Lovelady begins role as CEO at First Southern State Bank
STEVENSON — Jack Lovelady assumed the role of President and Chief Executive Officer effective the first of April at the Stevenson- based First Southern State Bank, following Mike Ellenburg’s retirement on March 31.
Lovelady also follows his father, the late Bunn W. Lovelady, who served First Southern from 1947 until his death in 2011. The elder Lovelady served in many capacities within the bank, and served as President and CEO from 1975 until 1996 and subsequently as Chairman of the Board.
In addition to its Stevenson base, First Southern State has offices in Centre, Scottsboro, Higdon, Leesburg, Rainsville, North Fort Payne and South Fort Payne.
A native of Stevenson, Jack Lovelady is a 1977 graduate of Stevenson High School and a 1981 graduate of the University of Alabama, where he earned his Bachelor of Science degree in Finance. In 1993, Lovelady completed studies at the Graduate School of Banking, conducted at Louisiana State University.
During summers following his high school graduation, Lovelady worked in numerous departments within the bank, starting in Bookkeeping and as a teller. Upon earning his college degree, he gained experience working with the First National Bank of Birmingham/AmSouth prior to joining First Southern State Bank in 1988. Since that time, he has served as Assistant Vice President and Loan Officer, Vice President and, just prior to his being named President, Senior Vice President.
In 2002, he was elected to the Board of Directors of both the bank and its holding company, First Bancshares of Stevenson, serving as Secretary to both Boards.
Lovelady earned the rank of Eagle Scout and is a member of the Scottsboro Rotary Club and Scottsboro Cumberland Presbyterian Church. He is married to the former Elizabeth Findlay of Tuscaloosa and they have two children: Thomas Campbell Lovelady and Sara Lovelady.
“First Southern has been a part of my personal and professional life for many years,” Lovelady said. “I welcome this opportunity to continue the growth and prosperity of the bank along with our wealth of good bankers, with appreciation to Mike Ellenburg for his many years of leadership.”