CHILTON RESIGNS FROM FIRST EXCHANGE CORP.

Donald R. Chilton has resigned as president of First Exchange Corp., parent company of several Exchange Banks, including Jackson Exchange Bank and First Exchange Bank of Cape Girardeau.

"I regret leaving banking and the many fine people that I have worked with over the years," he said Friday. "Banking has been an exciting and challenging business which offers a lot of opportunity."

Chilton has joined the family business, a vinyl and leather manufacturing firm headquartered in St. Louis.

"Banking has provided me with a wealth of knowledge and experience," he said. "But, I have an opportunity to go into business for myself, and to pursue other interests which would be impossible if I remained in banking."

In a letter to the corporation announcing his decision to leave the banking field, Chilton said he had been considering the move for some time and felt it was time for a change.

"I particularly hate leaving the Cape Girardeau area," he said. "That has been my home the past 20 years."

Chilton, a native of Fredericktown, attended Southeast Missouri State University. He entered banking in 1973 as an auditor and accountant for Jackson Exchange Bank.

He was appointed executive vice president in 1978, and headed the commercial and real estate lending. In 1982, he was named president and chief executive officer of First Exchange Corp.

First Exchange Corp. is a locally owned community bank holding company headquartered in Cape Girardeau. The corporation has banks in Cape Girardeau, Jackson, Fredericktown and St. Louis.