Touchstone Bankshares Inc. (OTC:TSBA) Stock in Focus After Recent News

This morning, most investors are expected to be on the lookout for stocks of those companies that may have been in the news this past Friday. One of the companies worth looking into at this point in time is possibly Touchstone Bankshares Inc. (OTC:TSBA), which made certain key announcements on September 8.

The company, along with its fully owned subsidiary unit, Touchstone Bank, announced some changes to management. It was revealed that Shauna Robertson had been promoted to Executive Vice President, Chief Banking and Human Resources Officer from the post of Senior Vice President and Director of Human Resources. In this context, it could be a good time for investors to take a look at Robertson’s credentials as an executive in order to make up their minds about the move.

Robertson’s experience in the banking sector spans 23 years, spanning a range of areas from human resources and recruitment to talent development and operations management. She has also been involved in consumer banking, business banking, and team-building efforts. She holds a Bachelor of Science degree in business administration from Virginia Commonwealth University. Additionally, she also graduated from the University of Virginia’s Virginia Bankers School of Bank Management.

She had formerly been a member of the Retail Executive Committee, and currently, she is a member of the Virginia Bankers Association Human Resources Committee. Additionally, Touchstone Bankshares also revealed that it had appointed Senior Vice President Justin Clay as its interim Chief Financial Officer for both the company and the bank. Clay’s experience as a banker with Touchstone Bank spans 23 years, and he would succeed Joseph Pennington, who had resigned from his position as Chief Financial Officer recently.

The company made the announcement about another major appointment on August 8. It announced that it had appointed Bruce Brockwell as the senior vice president and executive vice president of Touchstone Bank. The appointment was a significant one for the company, and in the news release, the company noted that Brockwell was a seasoned player in the local banking industry.

He had made a name for himself in the community due to his skills in both retail and commercial banking. His experience in the banking sector spans more than three decades, and that was mainly concentrated in the Richmond and Tri-Cities areas. Before joining Touchstone Bank, he had been working at Primis Bank in Richmond for 12 years in the capacity of Director of Commercial Banking. The last post he held at the bank was that of Regional Market President, and in that role, he was in charge of providing leadership for the Richmond market.

More importantly, during his time at Primis, Rockwelll was responsible for managing some of Primis biggest customers. James Black, the President and Chief Executive Officer of Touchstone Bankshares expressed his excitement at the fact that Brockwell had joined the management team of the company. He went on to note that his leadership skills would help in serving the local community.

Ian Leigh

Ian Leigh is a specialist in analyzing stocks, SEC and OTC filings, and financials of public and privately-held companies. He has played a significant role in M&A activity, consulting with publicly-held firms on acquisitions and divestitures. He also consults on valuations and branding. He lectures at major universities and teaches at specialty financial schools.