In another fallout from the banking crisis, AJC reporter Paul Donsky writes that troubled Appalachian Community Bank in Ellijay has placed its CEO and two other top executives on administrative leave pending an internal review into possible violations of bank policy.
Officials at Appalachian, one of the state’s largest community banks, said the review involves foreclosed property, but declined to provide more details.
They said Tuesday the review so far has turned up some “compliance issues,” but nothing that would harm the safety and soundness of the bank, Donsky writes.
The executives –- CEO Tracy Newton, chief credit officer Adam Teague and bank-owned property officer Rusty Beamon — were suspended on Nov. 2.
The investigation is being overseen by the bank’s board of directors. On Tuesday, the banks said the board had hired veteran Georgia banker Danny Jett as interim chief operating officer, Donsky writes.
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