SPRINGFIELD, Mo., Feb. 1, 2005 (PRIMEZONE) -- Guaranty Federal Bancshares, Inc., parent Company of Guaranty Bank, announced the appointment of Don Gibson as Chairman of its Board of Directors effective March 1, 2005.
Don Gibson will retire as president and CEO of Guaranty Federal Bancshares, Inc. effective February 28, 2005.
Shaun Burke has been appointed president and CEO of Guaranty Federal Bancshares, Inc. in addition to his current role as president and CEO of Guaranty Bank that he has held since March 2004. Burke was previously with Signature Bank for seven years where he served as executive vice president, senior credit officer, and was a member of the board of directors. Burke has a total of 22 years banking experience. Burke is also a past member of the United Way Allocations and Agency Relations Executive Committee, Salvation Army Board, and Big Brothers Big Sisters Board.
Jack Barham, 71, Chairman since 1990, initiated the change by relinquishing the position and nominating Gibson to be the new Chairman. Barham will continue to serve on the Board and was appointed Vice Chairman.
After being retired from Great Southern Bank for two years, Gibson joined Guaranty Bank in January 2002 as president and CEO of both the bank and the bank's holding company Guaranty Federal Bancshares, Inc.
Gibson successfully led Guaranty Bank's transformation from a savings bank to a state chartered trust company with banking powers in 2003. Gibson's leadership also helped to significantly grow the commercial lending department as well as improve the bank's financial performance.