Norman D. Lowery will become First Financial Foundation’s new president and CEO on Jan. 1.
Norman D. Lowery is succeeding his father, Norman L. Lowery, the current chairman, president and CEO of the Terre Haute-based company. Norman L. Lowery will transition to the role of non-executive chairman of the board.
“It is an honor to succeed my father as First Financial’s president and CEO, and to have the continued benefit of his leadership as chairman and that of our committed board of directors,” Norman D. Lowery said in a press release.
Norman D. Lowery has been with First Financial for three decades. He was named chief operating officer in 2010 and was elected to the company’s board of directors in 2020.
“Norman earned the opportunity to take on this role through years of demonstrated strong operational expertise and leadership,” said Ron Rich, First Financial’s lead independent director. “We are well-positioned for the future with him at the helm.”
Rich said Norman D. Lowery’s leadership enabled the company to weather the challenges of the financial crisis and pandemic.
“Norman D. is absolutely the right person to lead First Financial,” Norman L. Lowery said of his son. “He is a proven leader who knows our culture and brings significant energy to work every day.”
First Financial is undergoing additional changes in the coming year. The company announced they will acquire SimplyBank, which has headquarters in Dayton, Tennessee. SimplyBank operates 13 bank branches and one loan production office in Tennessee and Georgia.
The transaction is expected to close in the second quarter of 2024. After the proposed merger, First Financial will have total combined consolidated assets of about $5.5 billion.
First Financial Bank is the fifth oldest national bank in the U.S. They operate 70 banking centers in Illinois, Indiana, Kentucky and Tennessee. First Financial Corp. is the holding company for First Financial Bank.