Jim Floyd Jr. is retiring as president of The Heritage Bank.
“I have submitted my retirement and it will be acted upon at a board meeting Thursday,” Floyd said Tuesday morning. Thursday is also his 52nd birthday, he said.
He said rumors that he is being forced out and that Federal Deposit Insurance Corp. is planning other actions against the Hinesville-based banking chain are “unequivocally false.”
“It is my decision and it’s amicable with every board member,” he said, adding he has been discussing the move with his family and coworkers for months.
He said he is using leave time this week and, as yet, has no concrete plans.
“I’ve promised my wife 30 days of stable hand and barn help,” Floyd said, “and then we’ll see.”
Heritage has been operating under a consent order from the FDIC for a year now and Floyd acknowledged troubles in the area’s economy.
“We’re still involved in challenging times due to coastal real estate and loss of the 5th brigade, but we have a good team that will continue to work through these challenges as they arise,” he said.
Editor’s note: The Courier is working on a story about developments at The Heritage Bank for Sunday’s paper.