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Little Rock, Ark. – Southern Bancorp Bank, a Community Development Financial Institution (CDFI) and one of the nation’s oldest and most impactful community development banks, has announced the promotion of Lee Reddmann to Chief Credit Officer.
He succeeds Jimbo Boyd, who had served as the institution’s Chief Credit Officer since 2018. Boyd will continue to serve Southern Bancorp as Executive Vice President of Credit, providing transitional support and guidance as he plans for his eventual retirement.
“Lee’s deep understanding of our mission, combined with his strategic mindset and commitment to responsible lending, makes him an ideal leader for this role,” said John Olaimey, President and CEO of Southern Bancorp Bank. “We’re excited to see him step into this position and continue building on the strong foundation laid by Jimbo Boyd, whose contributions to our organization have been invaluable.”
Reddmann joined Southern Bancorp in 2018 as Director of Planning & Metrics, where he played a key role in developing and implementing strategic initiatives to support the institution’s mission-driven approach to banking. His leadership and analytical expertise have helped shape Southern Bancorp’s credit strategy and performance over the years, enabling the CDFI to deepen its impact in the communities it serves.
As Chief Credit Officer, Reddmann will oversee Southern Bancorp’s credit policies, risk management strategies, and lending practices, ensuring alignment with the institution’s mission to balance profits with its purpose to create economic opportunity in underserved communities.
“I’m incredibly proud of my time at Southern Bancorp and grateful for the opportunity to serve our organization in this new role,” said Reddmann. “I deeply believe in our mission to be wealth builders for everyone, and I look forward to continuing to support that mission by ensuring our credit practices remain responsive, responsible, and impactful.”
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About Southern Bancorp
Founded in 1986 by some of the nation’s leading political, business, and philanthropic leaders with an initial investment of $10 million, Southern Bancorp, Inc., along with its development partners – Southern Bancorp Bank and Southern Bancorp Community Partners – has grown into a $2.8 billion asset organization with 56 locations serving customers throughout the South. Southern Bancorp has a unique array of financial products and services designed to help individuals at all stages of life’s financial journey – from teaching kids how to save to helping entrepreneurs and families realize the American Dream. Southern Bancorp is a certified Community Development Financial Institution, certified B-Corp, and proud member of the Global Alliance for Banking on Values. Learn more at www.BankSouthern.com and www.SouthernPartners.org.