The former CEO of Community First Bank & Trust has stepped down as COO of Reliant Bancorp, a role he has held since the Brentwood-based lender bought his former employer at the beginning of 2018.
Louis Holloway told the Brentwood-based Reliant team he would retire, effective immediately, last Monday. The 67-year-old has more than three decades of banking experience and led Community First through the tough slog of cleaning up from the housing bust of last decade before aligning with Reliant. Earlier this year, he said he would not stand for re-election when his term on Reliant’s board of directors expired in May.
Holloway submitted his retirement notice just a few days after Reliant Chairman and CEO DeVan Ard Jr. tapped John Wilson to be the holding company’s president. Reliant Chief Strategy Officer Kim York told the Post that that timing is coincidental and that Holloway’s former duties are being allocated to other members of the company’s leadership team.
Holloway isn’t walking away empty-handed: Reliant is preparing to pay him a severance benefit of about $340,000 — a little more than one year of his salary — and will cover his health insurance for the next 13 months. The company also will vest 5,000 restricted shares it granted Holloway.
Reliant’s acquisitions earlier this year of fellow locals First Advantage Bank and Community Bank & Trust grew the bank’s asset base to $3 billion. That’s about double the size of the bank the Reliant-Community First deal created and some four times the combined assets of the former Commerce Union Bancshares and the legacy Reliant organization that joined forces in 2015.