WINCHESTER, Ky. — Anthony D. (Tony) Parrish has been promoted to president and CEO of Peoples Exchange Bank, Charles Beach, III, chairman of the board for Peoples Exchange Bank, announced Thursday. Parrish, who has been with the bank since 1997, will hold the dual role and oversee the financial institution’s long-term growth strategy.
Claude Bentley recently announced he will be stepping down as president of the organization after 23 years in the position. He will continue his employment in a reduced capacity focusing on business development and asset risk management. He will remain a member of the board of directors at Peoples Exchange Bank. This transition acknowledges and recognizes the strength and depth of the Peoples Exchange Bank executive team.
“We have a great history of carefully planned leadership succession at Peoples Exchange Bank, and we’re following the model that has served our institution well for several generations,” said Beach. “Tony’s commitment to our bank and customers coupled with his ability to inspire employees makes him the right person to preserve our culture and community banking values.”
Parrish, a native of Montgomery County, has served as market president, CFO, COO, and member of the board during his career at Peoples Exchange Bank. In 2018 he was promoted to CEO as part of a long-term succession process managed by the board of Ddirectors. Parrish will serve as the bank’s fourth president since opening in 1912.
During their time together, Bentley and Parrish have led Peoples Exchange Bank through a period of sustained growth from $70 million to over $400 million in assets. They have been champions of vision and expansion adding Powell, Montgomery, Clark, Fayette and Scott counties to their service area, which originally began in Lee County.
Bentley and Parrish have implemented strategy to blend the use of technology, including ATMs, online and mobile services with brick and mortar branches to conveniently meet the needs of customers.