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Baker Named Director

NEWS RELEASE
FOR IMMEDIATE RELEASE
Contact(s):

Matthew A. R. Converse
President and CEO
Sevier County Bank
865-453-6101

Leading financial expert Wynne E. Baker appointed to Board of Directors for Sevier County Bancshares and Sevier County Bank

SEVIERVILLE, TN – Sevier County Bancshares, Inc., holding company for Sevier County Bank, elected Wynne E. Baker of Nashville to serve on the Board of Directors of both the bank and holding company.

Baker, a nationally recognized authority on financial management, recently retired as partner/owner with the accounting firm KraftCPAs PLLC of Nashville. Baker headed the firm’s Banking Industry Team for 40 years. His group provided financial institutions with accounting, auditing and consulting services and advised banks in compliance and loan reviews, stock valuations, litigation support and mergers/acquisitions. In addition, Baker helped Kraft clients evaluate and execute organic growth strategies, and provided counsel in the strategic management of acquisitions and the start-up of new banks.

“There are few in the financial industry with Wynne’s understanding of the community bank market, its complexities, challenges and opportunities,” said Matthew A. R. Converse, president and CEO. “His widespread knowledge of banking and experience in financial management will provide our board the highest level of insight and perspective.

A certified public accountant (CPA) and certified financial services auditor (CFSA), Baker is a graduate of the Tennessee Technological University College of Business Administration at Cookeville. In 1999, TTU presented Baker with the Louis B. Johnson “Outstanding Business Alumnus Award.” The following year, he received the “Distinguished Service Award” from the Tennessee Society of CPAs.

“I have a great deal of respect for Sevier County Bank and the progress it has made over the past several years,” said Baker, who has provided training to the Tennessee Department of Financial Institutions, FDIC and OCC (Office of the Comptroller of the Currency) along with the Tennessee Bankers Association. “They have worked extremely hard in cleaning up their balance sheet and positioning the bank for future success. I’m honored by their invitation to be a member of the board and proud to be part of an organization whose core purpose is built on the foundation of “Keeping Our Community in Business.”

Baker is a member of the American Institute of CPAs and author of its premier bank course – “Introduction to Bank Accounting and Auditing.” He is also co-editor of the McGraw Hill published “Handbook of Financial Management for Banks.”

Former chairman of the Tennessee Society of Certified Public Accountants, Baker is certified by AICPA in financial forensics (CFF) and is a “preferred examiner” under the American Bankers Association (ABA). Baker is a frequent speaker at CPA seminars and conventions throughout the country.

Baker is respected nationally as an authority on the Current Expected Credit Losses (CECL) model, developed in the aftermath of the financial crisis by the Financial Accounting Standards Board (FASB) to replace current impairment models.