Southern States Bancshares, Inc., the holding company for Southern States Bank, an Alabama state-chartered commercial bank, announced the appointment of Mark Chambers as Chief Executive Officer. He succeeds retiring Chief Executive Officer and founder Stephen Whatley.
Whatley, 71, also retired from his positions as Chairman of the Company’s Board of Directors and Chairman of the Bank’s Board of Directors. His successor on each Board is J. Henry Smith, IV, who previously served as Lead Director. For more than 20 years, Smith has served as President of Interstate Sheet Metal Co., Inc., a metal components fabrication company specializing in parts fabrication for original equipment manufacturers around the country.
"Founding and leading Southern States for nearly two decades has been the highlight of my career, but after careful consideration, I am ready to enjoy retirement,” Whatley said. “I have the utmost confidence that the bank will continue to thrive with Mark leading our strong management team along with the expertise we have on the board of directors."
The leadership change is part of the company’s succession plan. In addition to serving as President of both the Company and the Bank since 2019, Chambers was appointed CEO of the Bank in March 2022. From 2007 until 2019, he served as Senior Executive Vice President and President of the Bank’s Southeast Region. Prior to joining Southern States, Chambers worked as a Market President at Wachovia Bank from 2004 until 2007, and as a Commercial Lender at Aliant Bank from 1998 until 2004.
“Mark is a proven banker and veteran leader with a long history of delivering for customers, stockholders, employees and communities,” said Smith. “We are very confident that he will continue to drive strong results and position Southern States for ongoing success.”
Chambers said, “It’s an honor to succeed our founder and long-time CEO, and I am excited to further build upon the strong foundation and standout team that Southern States established under Steve’s 16 years at the helm of our Company. We have a deep bench of leadership talent across some of the most vibrant markets in the South, and together, we are committed to disciplined growth and further strengthening of our franchise value.”
Whatley had served as Southern States Chief Executive Officer since 2007 and Chairman of the Board of Directors since 2014. Whatley worked in the banking industry since 1973. Prior to joining Southern States, he served as Market President of Colonial Bank from 1982 through 2006. From 1980 until 1982, he served as Vice President Commercial Lender of AmSouth Bank and, from 1978 until 1982, as Vice President of Trust Company Bank.