United Bank and United Bancorporation of Alabama, Inc. announce the retirement of CEO Bob Jones and name the company's longtime Chief Credit Officer Michael Vincent to serve as interim president

News provided by

Jul 14, 2021, 11:57 ET

ATMORE, Ala., July 14, 2021 /PRNewswire/ -- The Board of Directors for United Bancorporation of Alabama, Inc. (OTCQX: UBAB), the parent company of United Bank and UB Community Development, announces the retirement of Bob Jones, who is 69, from his positions of chief executive officer and president of United Bancorporation of Alabama, Inc. and United Bank, effective July 2, 2021. The Board thanks Jones for his years of service and appreciates the company's achievements during that time.

The Board of Directors has elected Michael R. (Mike) Vincent to serve as interim president of United Bancorporation of Alabama, Inc. and United Bank. Vincent will continue to serve as chief credit officer of United Bank. In addition, the Board of Directors has elected Gwendolyn B. (Gwen) Braden to serve as executive vice president and chief operating officer of United Bank.

Mike Vincent previously served as executive vice president and chief credit officer of United Bank. Vincent joined United Bank in 2006. The Board promoted Vincent to chief credit officer in 2014.

Gwen Braden has returned to serve as executive vice president and chief operating officer of United Bank. Braden has been with United Bank since 2005, and from 2013 until January 2021 she served as executive vice president and chief operating officer. Prior to her recent return, Braden was a consultant to United Bank.

David Swift is a director of United Bancorporation of Alabama and United Bank. He joined United Bank's board in 1994 and has served as its chairman since 1997. Swift has been elected to serve as interim chief executive officer of United Bank and United Bancorporation of Alabama, Inc. Regarding the changes, Swift said: "We look forward to the continued growth of United, including, in particular, the acquisition of Town-Country National Bank. We are excited about welcoming Town-Country to the United family in the near future."

"This is a great time for United Bank especially because we have the opportunity to advance superb talent from within the company," Swift continued. "Because of their long history with United Bank, the elevation of Mike Vincent to interim president and the return of Gwen Braden to her role as executive vice president and chief operating officer have the added benefit of ensuring a seamless transition for both employees and customers."

Jones joined the company in 1990 and became president and chief executive officer in 1992. He is 69 years old and has had a long career in the banking industry.

Contact:
David Swift
Chairman of the Board
(251) 929-9399

SOURCE United Bancorporation