EDWARDSVILLE – After 10 years of distinguished service and leadership, Thomas E. Holloway, president and chief executive officer of The Bank of Edwardsville, announced that he will retire on May 29.
“It’s been a tremendous honor and privilege to work with the wonderful people at this great institution,” said Holloway, who became only the 12th president in the bank’s 146-year history when hired in April 2005. “Time sure does pass quickly, and I know the next nine months will as well. But I truly feel that it will be the right time for me. I never planned to work forever, and I’m turning 65 years old next year. I’m ready for the next phase of my life.”
Robert Plummer, chairman of the bank’s Board of Directors, said Holloway’s retirement plans come as no surprise.
“When we went through the process of hiring Tom nearly 11 years ago, it was clear that he was looking to work another 8 to 10 years, and next year will be his 10th as president and CEO of our bank,” he said. “Of course, we would like for Tom to stay another 20 years. He’s been a great leader and a tremendous asset to the bank. But we also understand his decision to want to spend more time with his family and enjoy the next part of his life. We wish him nothing but success and happiness in retirement.”
Mark Shashek, chairman of the bank’s holding company, The Banc Ed Corp., said a search committee has been established to find a replacement, with the goal of having someone in place to work with Holloway during his last few months to make the transition as smooth as possible.
“We’ve started the process and we’re going to be interviewing a number of candidates, both internal and external,” Shashek said. “We want someone who understands the culture and the values of not only our company, but also the values of the people in the communities we serve. That is such an important aspect of this whole process, finding a candidate who understands what the bank is trying to do and can lead us forward. Tom did a wonderful job at that over the past decade.”
A graduate of Southern Illinois University Carbondale with a bachelor of arts in mathematics and a master of business administration in finance, Holloway began his banking career in 1974 at First Granite City National Bank, where he was elected president in 1984. He served in that capacity until the bank was acquired in 1988 by Magna Group Inc., a Belleville-based banking holding company. He then served Magna Bank and its successor, Union Planters Bank, as president and CEO from 1991 until taking over as president and CEO of the bank in 2005.
The results of Holloway’s leadership at the bank speak for themselves. During his term as president, the bank grew from 14 to 18 locations while its assets have grown each year, rising from just over $1 billion in 2005 to more than $1.6 billion. Meanwhile, The Investor Group at the bank, its trust and financial services division, grew from $600 million to about $1 billion in assets during his tenure. Holloway was able to help guide the bank to success despite the longest and most catastrophic financial crisis in this country since the Great Depression.
“There have certainly been some rather unique challenges along the way,” Holloway said. “But there is a great group of people working at the bank and a great management team in place, so I’m confident that the success we’ve shared over the past 10 years will continue well into the future.”
In addition to guiding the bank to continued financial success, Holloway has been active in the communities throughout the area. He serves on the board of directors of the Edwardsville School District 7 Foundation, the Illinois Chamber of Commerce, McKendree University, the SIUE Foundation, University Park at SIUE, the St. Louis Regional Chamber and Growth Association, Memorial Group (parent company of Memorial Hospital) and Memorial Hospital East. A current member of the Belle-Scott Committee, he has also served on the boards of the Belleville District 118 Educational Foundation, Hospice of Southern Illinois, the Home Builders of Greater Southwest Illinois and Junior Achievement, as well at the Advisory Board of the Okaw Valley Council, Boy Scouts. In addition to a variety of other charitable and community development commitments, he has served as president of the Chamber of Commerce of Southwest Illinois, the Greater Belleville Area Chamber of Commerce and the Leadership Council Southwest Illinois. A former chairman of the United Way Illinois Auxiliary Board, he also chaired the 1996 United Way annual campaign.
A charter member of the SIUC College of Business Hall of Fame (1986), Holloway delivered the 2012 SIUC College of Science commencement address and was honored with the college’s Alumni Achievement Award. He is also a recipient of the Okaw Valley Boy Scouts Distinguished Citizen Award, Lewis and Clark Boy Scout Council Lifetime Achievement Award, Belleville Chamber’s Commitment to Community Award, Alton NAACP Humanitarian Award, Book of Golden Deeds Award from the Belleville Exchange Club, and Martin Luther King Jr. Award from the New Shining Light Church Outreach Ministry.
In retirement, Holloway said he plans to spend time with his family, including his wife of 35 years, Lisa, their three children and one grandchild.