Nevada County Picayune and Gurdon Times Newspaper Archive

Brandon New CEO At Elk Horn Bank

William H. Brandon, chairman and chief executive officer of First Delta Corporation in Helena, has also been named to a similar position with the Southern Development Bancorporation in Arkadelphia, which is the parent company of Elk Horn Bank and Trust in Arkadelphia as well as three other financial organization-- Arkansas Enterprise Group, Southern Ventures, Inc., and Opportunity Lands Corporation.

James Harrington has been elected chairman of the board and Joe Miles president and chief executive officer of Elk Horn Bank and Trust, replacing George P. Surgeon, who has resigned to become chief financial officer of Shorebank Corporation in Chicago, Ill.

All these changes became effective October 1.

Brandon will continue to serve as chairman and executive officer of First National Bank of Phillips County and Bart Lindsey will continue as president of that Helena financial institution.

Harrington, who previously owned Elk Horn Bank and Trust, currently serves as a director of the bank and its holding company, Southern Development Bancorporation.

Miles was also elected to the board of Elk Horn Bank and Trust. Prior to his election as president of Elk Horn Bank and Trust, Miles was president of Citizens First Bank of Arkadlephia, which he joined in 1991.

"We are sorry to see George go back to Chicago, but we feel very fortunate to have landed Joe as his replacement," said Harrington.

"Joe is a fine, experienced Arkansas banker with strong Arkansas roots. We feel confident that he will continue to maintain Elk Horn's preeminent position in Clark County. I am sure that he will also do a fine job leading our community development efforts in rural Arkansas," Harrington said.

"My appointment to the post at Southern in Arkadelphia," Brandon said, "reinforces the work relationship that Delta and Southern Development Bancorporation have successfully developed over the past eight years.

"These strong financial institutions have worked well together to expand community development programs that benefit the Delta regions of our state," Brandon concluded.

Southern Development Bancorporation has as its primary objective community development as spearheaded by Arkansas Enterprise Group and its other subsidiaries, which are funded by profits from its commercial banking operation, Elk Horn Bank and Trust in Arkadelphia.

Brandon said Southern and First Delta will form the "Delta Partnership" to increase the level of economic development activity in this area of the state. The Delta Partnership, which will include other banks and organizations, will be a long-term cooperative relationship that will enable its members to best serve their communities, he noted.

Brandon stressed that the Delta Partnership will not effect the independence of any of its member banks or organizations.