VALDOSTA, Ga., April 26, 2007 (PRIME NEWSWIRE) -- On Tuesday, April 24, 2007, the Board of Directors of PAB Bankshares, Inc. (Nasdaq:PABK), the holding company for The Park Avenue Bank, appointed Douglas W. McNeill to serve as Vice Chairman of the Board of the Company and the Bank. Mr. McNeill has served as director of the Company and the Bank since March 2005. Mr. McNeill, age 64, is the President of Case Pomeroy Properties, a subsidiary of Case, Pomeroy and Company, Inc. Case Pomeroy Properties is a real estate development and investment firm located in Jacksonville Beach, Florida. In December 2006, he was elected to the Board of Directors of Case, Pomeroy and Company, Inc. Mr. McNeill has been involved in the real estate industry for more than 30 years as a senior level executive directing multi-million dollar developments and investments. He also serves as a director of the Real Estate Advisory Committee of the Reinhold Corporation and a member of the Investment Committee of the Levitt Corporation. In addition, he is a director of Kent State University Foundation and a past director of Leadership Florida and the Florida Chamber of Commerce. Since March 2005, Mr. McNeill has served on the Bank's Loan Committee and the Company's Compensation Committee.
Also on Tuesday, the Board of Directors promoted George D. Henderson to Executive Vice President and Chief Credit Officer of the Company and the Bank. Mr. Henderson has been a Senior Vice President in Commercial Lending with the Bank since 2002 and has served as the Market President for the Bank's Hall County, Georgia, office since 2006. Mr. Henderson, age 56, has over 33 years of experience in commercial banking with various financial institutions in Georgia. In his new role, Mr. Henderson will be responsible for policy direction and supervision over the Bank's lending function and credit administration department. "We are pleased to announce this promotion for George Henderson. George has done everything from building a commercial loan portfolio, to managing a workout team in cleanup situations, to developing a de novo bank presence in a new market. He will provide significant experience and depth to our executive management team," stated President and CEO M. Burke Welsh, Jr.
"Bill Kane has served the dual role of Chief Credit Officer and North Georgia Market President since November 2005. Transferring the CCO role to George will allow Bill to devote 100% of his time to further developing our metro Atlanta and North Georgia markets. Tommy Heydet was hired in January to build a presence for us in Forsyth County. We will expand Tommy's market responsibilities to also include Hall County," added Welsh.
About PAB
The Company's sole operating subsidiary is The Park Avenue Bank. Both the Company and the Bank are headquartered in Valdosta, Georgia. The Bank was established in 1956 by Mr. James L. Dewar, Sr. in a small office at the corner of Park Avenue and Ashley Street in Valdosta. The Bank operates in 20 branch offices and three loan production offices in 15 counties in Georgia and Florida. Additional information on the Bank's locations and the products and services offered by the Bank is available on the Internet at www.parkavebank.com. The Company's common stock is listed on the NASDAQ Global Select Market under the symbol PABK. Prior to November 1, 2005, the Company's common stock was listed on the American Stock Exchange under the symbol PAB. More information on the Company is available on the Internet at www.pabbankshares.com.