Farmers & Merchants Bank and The Bank of Fayetteville announced Tuesday (Aug. 26) that Greg Connell has been named president and CEO. Connell, who is the president, will now also be the CEO following Brad Chambless’ decision to step down to focus on his health and family.
Connell has been a board member of Farmers & Merchants Bank and its holding company since 2008. During his tenure, he has held the positions of market president, chief revenue officer, and president.
“I’m honored by the trust the board has placed in me and excited about the opportunities ahead,” Connell said. “This year, Farmers & Merchants Bank is celebrating 80 years of being rooted in Arkansas. We are committed to community banking values and delivering financial solutions that grow with our customers. I look forward to leading this next chapter. Our team is passionate, experienced and ready to serve.”
Connell began his banking career 43 years ago as a management trainee for Deposit Guaranty National Bank in Jackson, Miss. For the past 40 years, Connell has served in senior roles in Arkansas’ financial sector, including commercial lending officer, chief credit officer and chief financial officer.
Connell holds a bachelor’s degree in business administration from Delta State University and a master’s degree in business in finance and management from the University of Central Arkansas. He is an inactive Certified Public Accountant and graduate of the Colorado Graduate School of Banking and the National Commercial Lending Graduate School at the University of Oklahoma.
Chambless informed the board of directors of his decision to step down, citing a year of ongoing health challenges.
“This has been a very difficult decision, but it’s the right one for me and my family at this time,” Chambless said. “I’m proud of all we’ve accomplished together over the years. I feel that the bank is stronger, more efficient and more profitable today than when I started. I leave knowing it is in great hands. I will always be grateful for the opportunity to serve and for the many relationships I’ve had the pleasure of building along the way.”
Chambless joined Farmers & Merchants Bank in 2006 as a commercial loan officer. He was promoted to chief lending officer in 2014 and became CEO in 2021.
“Greg Connell has been instrumental in the bank’s progress over the last several years, and the board has full confidence in his ability to guide the bank forward with strength, integrity and vision,” said Chris Morgan, chair of the bank’s board of directors. “I also want to recognize Brad for his leadership and years of service. He has been an advocate for community banking in Arkansas. We are grateful for his contributions and wish him the very best as he turns his focus to health and family.”
Farmers & Merchants Bank, headquartered in Stuttgart, is a locally-owned $1.9 billion community bank with 26 locations in Arkansas, including eight operating as The Bank of Fayetteville.