Courtesy Citybizlist
ALPHARETTA, Ga. - Thomas Persons, Sr., the chairman of Touchmark Bancshares Inc. (OTC BB: TMAK), has stepped down citing a major split in the board of Touchmark National Bank's holding company,, according to an 8-K filing with the U.S. Securities and Exchange Commission.
In his resignation letter dated March 3, Persons, 65, said he could no longer "support many of the recent actions" by the board and would not allow the Alpharetta-based regional bank "to go through an expensive and nasty proxy fight under my leadership."
"I am exhausted with the split in our board. Our legal cost for the management review that is being conducted has already cost our bank much more than was ever necessary," he added.
Persons, who was a member of the company's audit and executive committees, expressed the hope that his successor "could promote more cohesive board action at the company and the bank."
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