EXCHANGE BANK: STANFIELD RESIGNS AS PRESIDENT

Bill M. Stanfield has resigned as president and chief executive officer of First Exchange Bank of Cape Girardeau.

Stanfield, who joined the bank when it opened in Cape Girardeau in January of 1984, announced his intentions to leave the bank during a recent meeting with members of the Board of Directors.

"I have agreed to remain with the bank until a successor is named," said Stanfield. "Hopefully this will be accomplished by the first of the year."

Stanfield indicated that he had a couple of options, but refused to discuss other job opportunities at this time.

"The plans don't include another bank presidency," he said. "In today's difficult regulatory environment, this job just isn't much fun any more."

Stanfield, who retired from the U.S. Air Force in 1976, has spent 15 years in banking. He was formerly with First National/Centerre until joining First Exchange Bank.

"The toughest thing about leaving is the close relationship with customers, staff and stockholders," said Stanfield. "I wish them all the very best."