FRANK M. THOMAS, JR. - Corporate Board Profile

SECURITY FEDERAL CORP

Filing Date	Source Excerpt
2008-06-20	Frank M. Thomas, Jr. is an Executive Vice President of the Bank. He began his career with the Bank in 1994 as a Business Development Officer and has served in positions of increasing responsibilities in his 14 years with the Bank. His most recent positions have included Senior Vice President of Commercial Lending and Senior Vice President and Aiken Area Executive of the Bank. Mr. Thomas is active in the Aiken community and serves as a Board Member and Treasurer for the Greater Aiken Chamber of Commerce, Board Member and Treasurer for the University of South Carolina at Aiken Partnership Board, Board Member and Co-Chairman for the Aiken Downtown Development Association, and Board Member for the Free Medical Clinic of Aiken County. Mr. Thomas did not become a director of Security Federal and the Bank until May 15, 2008, and, therefore, did not receive any directors' compensation during the year ended March 31, 2008.
2009-06-22	Frank M. Thomas, Jr. is an Executive Vice President of the Bank. He began his career with the Bank in 1994 as a Business Development Officer and has served in positions of increasing responsibilities in his 15 years with the Bank. His most recent positions have included Senior Vice President of Commercial Lending and Senior Vice President and Aiken Area Executive of the Bank. Mr. Thomas is active in the Aiken community and serves as a Board Member and Treasurer for the Greater Aiken Chamber of Commerce, Board Member and Treasurer for the University of South Carolina at Aiken Partnership Board, Board Member and Co-Chairman for the Aiken Downtown Development Association, and Board Member for the Free Medical Clinic of Aiken County.
2010-06-29	Frank M. Thomas, Jr. is an Executive Vice President of the Bank. He began his career with the Bank in 1994 as a Business Development Officer and has served in positions of increasing responsibilities in his 16 years with the Bank. His most recent positions have included Senior Vice President of Commercial Lending and Senior Vice President and Aiken Area Executive of the Bank. Mr. Thomas is active in the Aiken community and serves as the Chair-elect of the Board of Directors of the Greater Aiken Chamber of Commerce, Board Member and Treasurer for the University of South Carolina at Aiken Partnership Board, Board Member and Co-Chairman for the Aiken Downtown Development Association, and Board Member for the Free Medical Clinic of Aiken County. Mr. Thomas9 career has given him experience in a number of areas of banking, with particular expertise in the area of lending.
2011-06-22	Frank M. Thomas, Jr. was appointed President of the Bank effective January 1, 2011. Prior to that, he had served as an Executive Vice President of the Bank since 2007. Mr. Thomas began his career with the Bank in 1994 as a Business Development Officer and has served in positions of increasing responsibilities in his years with the Bank. His most recent positions have included Senior Vice President of Commercial Lending and Senior Vice President and Aiken Area Executive of the Bank. Mr. Thomas is active in the Aiken community and serves as the Chair of the Board of Directors of the Greater Aiken Chamber of Commerce. Mr. Thomas’ career has given him experience in a number of areas of banking, with particular expertise in the area of lending. The Compensation Committee makes recommendations to the Board regarding the amount of the Bank’s annual contribution to certain benefit plans and salaries for the Bank’s officers and employees. This Committee also determines certain minor administrative matters related to certain employee plans. The Compensation Committee is comprised of Directors T. C. Weeks (Chairman), Toole, Alexander and H.O. Weeks, Jr. This Committee met three times during the fiscal year ended March 31, 2011. The Proxy Committee, which is composed of the entire Board of Directors, is responsible for voting the proxies of Security Federal’s shareholders. The Committee met once during the fiscal year ended March 31, 2011. The Trust Committee consists of Directors Toole (Chairman), T.C. Weeks, Alexander, Simmons, Verenes, Lindburg and Thomas. This Committee reviews and approves activities of Security Federal Trust, a division of the Bank. This Committee met 18 times during the fiscal year ended March 31, 2011. The Investment Committee consists of Directors Toole (Chairman), T.C. Weeks, Alexander, Simmons, Verenes, Lindburg and Thomas. This Committee reviews and approves activities of Security Federal Investments, a division of the Bank. This Committee met 12 times during the fiscal year ended March 31, 2011.
2012-06-22	Frank M. Thomas, Jr. was appointed President of the Bank effective January 1, 2011. The Executive Committee of the Bank is composed of Directors Verenes (Chairman), Toole, Alexander, Weeks, Simmons, Lindburg and Thomas. The Loan Committee is composed of Directors Verenes (Chairman), Toole, Alexander, Weeks Simmons, Lindburg and Thomas. The Trust Committee consists of Directors Toole (Chairman), Verenes, Alexander, Weeks, Simmons, Thomas and Adams. The Investment Committee consists of Directors Toole (Chairman), Verenes, Alexander, Simmons, Weeks, Thomas and Adams. Compensation for Frank M. Thomas, Jr. for fiscal year ended March 31, 2012 was $265,918.
2014-03-28	Frank M. Thomas, Jr. was appointed President of the Bank effective January 1, 2011. Prior to that, he had served as an Executive Vice President of the Bank since 2007. Mr. Thomas began his career with the Bank in 1994 as a Business Development Officer and has served in positions of increasing responsibilities in his years with the Bank. His most recent positions have included Senior Vice President of Commercial Lending and Senior Vice President and Aiken Area Executive of the Bank. Mr. Thomas is active in the Aiken community and is past Chair of the Board of Directors of the Greater Aiken Chamber of Commerce. Mr. Thomas’ career has given him experience in a number of areas of banking, with particular expertise in the area of lending. On January 17, 2013, the Board of Directors determined to change our fiscal year end from March 31 to December 31. This change went into effect immediately. Accordingly, the following table shows information regarding compensation earned during the fiscal year ended December 31, 2013, the transition period from April 1, 2012 through December 31, 2012 and the fiscal year ended March 31, 2012 for our named executive officers: (1) J. Chris Verenes, our principal executive officer; and (2) our two other most highly compensated executive officers, who are Frank M. Thomas, Jr. and Roy G. Lindburg. The named executive officers did not receive any bonuses, stock awards, option awards or non-equity incentive plan compensation in the years reported; therefore, these columns have been omitted from the table below. The following table sets forth details of “All other compensation” for the year ended December 31, 2013 as presented above in the Summary Compensation Table. Frank M. Thomas, Jr. received total compensation of $224,713 for the year ended December 31, 2013.
2015-03-23	Frank M. Thomas, Jr. is retired. He served as President of the Bank from 2011 until June 2014. The Executive Committee, comprised of Directors Simmons (Chairman), Toole, Alexander, Weeks, Verenes Lindburg, Harmon and Thomas. The Audit Committee, comprised of Directors Moore (Chairman), Clyburn, Alexander, Simmons and Thomas. The Trust Committee consists of Directors Toole (Chairman), Verenes, Alexander, Simmons, Thomas and Harmon. The Investment Committee consists of Directors Toole (Chairman), Verenes, Alexander, Simmons, Thomas and Harmon. Compensation paid to Frank M. Thomas, Jr. for the year ended December 31, 2014 was $62,969.
2016-03-21	Frank M. Thomas, Jr. is retired. He served as President of the Bank from 2011 until June 2014, and as Executive Vice President of the Bank from 2007 until 2011. Mr. Thomas began his career with the Bank in 1994 as a Business Development Officer and served in positions of increasing responsibilities in his years with the Bank. His most recent positions have included Senior Vice President of Commercial Lending and Senior Vice President and Aiken Area Executive of the Bank. Mr. Thomas is active in the Aiken community and is past Chair of the Board of Directors of the Greater Aiken Chamber of Commerce. Mr. Thomas’ career has given him experience in a number of areas of banking, with particular expertise in the area of lending. The Audit Committee, comprised of Directors Moore (Chairman), Clyburn, Alexander, Simmons and Thomas. The Executive Committee, comprised of Directors Simmons (Chairman), Toole, Alexander, Weeks, Verenes Lindburg, Harmon and Thomas. The Compensation Committee, which also serves as the Stock Option Committee, is comprised of Directors Simmons (Chairman), Toole, Alexander and Weeks. The Executive Committee is composed of Directors Verenes (Chairman), Toole, Alexander, Weeks, Simmons, Lindburg, Harmon and Thomas. The Loan Committee is composed of Directors Verenes (Chairman), Toole, Alexander, Weeks Simmons, Lindburg and Thomas. The Trust Committee consists of Directors Toole (Chairman), Verenes, Alexander, Simmons, Thomas and Harmon. The Investment Committee consists of Directors Toole (Chairman), Verenes, Alexander, Simmons, Thomas and Harmon. Frank M. Thomas, Jr. received $100,700 in total compensation for the year ended December 31, 2015.
2017-03-20	Frank M. Thomas, Jr. is retired. He served as President of the Bank from 2011 until June 2014, and as Executive Vice President of the Bank from 2007 until 2011. Mr. Thomas began his career with the Bank in 1994 as a Business Development Officer and served in positions of increasing responsibilities in his years with the Bank. His most recent positions have included Senior Vice President of Commercial Lending and Senior Vice President and Aiken Area Executive of the Bank. Mr. Thomas is active in the Aiken community and is past Chair of the Board of Directors of the Greater Aiken Chamber of Commerce. Mr. Thomas' career has given him experience in a number of areas of banking, with particular expertise in the area of lending. The Audit Committee, comprised of Directors Moore (Chairman), Clyburn, Alexander, Simmons and Thomas... The Executive Committee, comprised of Directors Simmons (Chairman), Toole, Alexander, Weeks, Verenes Lindburg, Harmon and Thomas... The Compensation Committee, which also serves as the Stock Option Committee, is comprised of Directors Simmons (Chairman), Toole, Alexander and Weeks... The Trust Committee consists of Directors Toole (Chairman), Verenes, Alexander, Simmons, Thomas and Harmon... The Investment Committee consists of Directors Toole (Chairman), Verenes, Alexander, Simmons, Thomas and Harmon... Salary Continuation Agreement. Payments received pursuant to Salary Continuation Agreement.
2018-03-28	Frank M. Thomas, Jr. is retired. He served as President of the Bank from 2011 until June 2014. The Executive Committee, comprised of Directors Simmons (Chairman), Toole, Alexander, Weeks, Verenes Lindburg, Harmon and Thomas meets on an as needed basis. The Audit Committee is comprised of Directors Moore (Chairman), Clyburn, Alexander, Simmons and Thomas. The Trust Committee consists of Directors Toole (Chairman), Verenes, Alexander, Simmons, Thomas and Harmon. The Investment Committee consists of Directors Toole (Chairman), Verenes, Alexander, Simmons, Thomas and Harmon. Compensation paid to Frank M. Thomas, Jr. for the year ended December 31, 2017 was $105,800.
2019-03-25	Frank M. Thomas, Jr. is retired. He served as President of the Bank from 2011 until June 2014, and as Executive Vice President of the Bank from 2007 until 2011. Mr. Thomas began his career with the Bank in 1994 as a Business Development Officer and served in positions of increasing responsibilities in his years with the Bank. His most recent positions have included Senior Vice President of Commercial Lending and Senior Vice President and Aiken Area Executive of the Bank. Mr. Thomas is active in the Aiken community and is past Chair of the Board of Directors of the Greater Aiken Chamber of Commerce. Mr. Thomas' career has given him experience in a number of areas of banking, with particular expertise in the area of lending. The Audit Committee, comprised of Directors Moore (Chairman), Clyburn, Alexander, Simmons and Thomas assists the Board in fulfilling its oversight responsibilities. This Committee is responsible for reviewing our annual audited financial statements and any financial statements submitted to the public, appointment of the independent registered public accounting firm and monitoring the independence and performance of our independent registered public accounting firm and internal auditing department. The Board of Directors has determined that there is no "audit committee financial expert," as defined by the SEC; however, the Board believes that the current members of the Audit Committee are qualified to serve based on their collective experience and background. Directors Moore, Clyburn, Alexander and Thomas are "independent," pursuant to the rules of The Nasdaq Stock Market LLC ("Nasdaq") governing audit committee membership. Director Simmons is not independent for purposes of audit committee membership. Although Security Federal's common stock is not listed on Nasdaq, it has chosen to apply Nasdaq's definition of independence, as permitted by the SEC. This Committee met 12 times during the year ended December 31, 2018. The Compensation Committee, which also serves as the Stock Option Committee, is comprised of Directors Simmons (Chairman), Toole, Alexander and Weeks. This Committee meets on an as needed basis and makes recommendations to the Board regarding annual contributions to certain benefit plans and salaries for officers and employees. This Committee also determines certain minor administrative matters related to certain employee benefit plans. Each member of the Committee is "independent," as defined by Nasdaq, with the exception of Mr. Simmons. This Committee met once during the year ended December 31, 2018. The Trust Committee consists of Directors Toole (Chairman), Verenes, Alexander, Simmons, Thomas, Harmon, Lindburg and Cummins. This Committee reviews and approves activities of Security Federal Trust, a division of the Bank. This Committee met 22 times during the year ended December 31, 2018. The Investment Committee consists of Directors Toole (Chairman), Verenes, Alexander, Simmons, Thomas, Harmon, Lindburg and Cummins. This Committee reviews and approves activities of Security Federal Investments, a division of the Bank. This Committee met nine times during the year ended December 31, 2018.
2020-03-24	Frank M. Thomas, Jr. is retired. He served as President of the Bank from 2011 until June 2014, and as Executive Vice President of the Bank from 2007 until 2011. Mr. Thomas began his career with the Bank in 1994 as a Business Development Officer and served in positions of increasing responsibilities in his years with the Bank. His most recent positions have included Senior Vice President of Commercial Lending and Senior Vice President and Aiken Area Executive of the Bank. Mr. Thomas is active in the Aiken community and is past Chair of the Board of Directors of the Greater Aiken Chamber of Commerce. Mr. Thomas’ career has given him experience in a number of areas of banking, with particular expertise in the area of lending. The Audit Committee: Thomas L. Moore, Chairman William Clyburn Robert E. Alexander Timothy W. Simmons Frank M. Thomas, Jr. Frampton W. Toole III Richard T. Harmon. The Compensation Committee, which also serves as the Stock Option Committee, is comprised of Directors Simmons (Chairman), Toole, Alexander, Weeks, Moore, Clyburn, Thomas and Harmon. The Proxy Committee, which is composed of Directors Simmons (Chairman), Toole, Alexander, Weeks, Moore, Clyburn and Thomas. The Nominating Committee, consisting of Directors Simmons (Chairman), Toole, Alexander, Weeks, Moore, Clyburn, Thomas and Harmon. The Executive Committee, comprised of Directors Simmons (Chairman), Toole, Alexander, Weeks, Verenes Lindburg, Harmon, Thomas, Cummins, Clyburn and Moore. The Trust Committee consists of Directors Toole (Chairman), Alexander, Simmons, Thomas, Moore, Clyburn, Toole, Harmon, Lindburg and Cummins. The following table shows the compensation paid to our directors for the year ended December 31, 2019, except for those who are our named executive officers. Frank M. Thomas, Jr.: Fees Earned or Paid in Cash ($) 73,500, All Other Compensation ($) 37,600.
2022-04-08	Frank M. Thomas, Jr. is retired. He served as President of the Bank from 2011 until June 2014, and as Executive Vice President of the Bank from 2007 until 2011. The Audit Committee, comprised of Directors Moore (Chairman), Clyburn, Alexander, Simmons, Thomas, Toole, Harmon and Cummins assists the Board in fulfilling its oversight responsibilities. The Compensation Committee, which also serves as the Stock Option Committee, is comprised of Directors Simmons (Chairman), Toole, Alexander, Weeks, Moore, Clyburn, Thomas, Harmon and Cummins. The Proxy Committee, which is composed of Directors Simmons (Chairman), Toole, Alexander, Weeks, Moore, Clyburn, Thomas, Cummins and Harmon is responsible for voting the proxies of Security Federal’s shareholders. The Nominating Committee, consisting of Directors Simmons (Chairman), Toole, Alexander, Weeks, Moore, Clyburn, Thomas, Harmon and Cummins was formed to ensure that we maintain the highest standards and best practices in all critical areas relating to the management of our business. The following table shows the compensation paid to our directors for the year ended December 31, 2021, Frank M. Thomas, Jr. received $78,500 in fees and $37,600 in other compensation totaling $116,100.
2023-04-07	Frank M. Thomas, Jr. is retired. He served as President of the Bank from 2011 until June 2014, and as Executive Vice President of the Bank from 2007 until 2011. Mr. Thomas began his career with the Bank in 1994 as a Business Development Officer and served in positions of increasing responsibilities in his years with the Bank. His most recent positions have included Senior Vice President of Commercial Lending and Senior Vice President and Aiken Area Executive of the Bank. Mr. Thomas is active in the Aiken community and is past Chair of the Board of Directors of the Greater Aiken Chamber of Commerce. Mr. Thomas’ career has given him experience in a number of areas of banking, with particular expertise in the area of lending.
2024-04-08	Frank M. Thomas, Jr. is retired. He served as President of the Bank from 2011 until June 2014. The Audit Committee, comprised of Directors Moore (Chairman), Clyburn, Alexander, Simmons, Thomas, Toole, Harmon and Cummins. The Compensation Committee, which also serves as the Stock Option Committee, is comprised of Directors Simmons (Chairman), Toole, Alexander, Weeks, Moore, Clyburn, Thomas, Harmon and Cummins. The Proxy Committee, which is composed of Directors Simmons (Chairman), Toole, Alexander, Weeks, Moore, Clyburn, Thomas, Cummins and Harmon. The Nominating Committee, consisting of Directors Simmons (Chairman), Toole, Alexander, Weeks, Moore, Clyburn, Thomas, Harmon and Cummins. Security Federal’s Bank Board of Directors Executive Committee is composed of Directors Verenes (Chairman), Toole, Alexander, Weeks Simmons, Lindburg, Moore, Clyburn, Harmon, Thomas and Cummins. The Loan Committee is composed of Directors Verenes (Chairman), Toole, Alexander, Weeks Simmons, Lindburg, Thomas, Moore, Clyburn, Harmon and Cummins. The Compensation Committee is comprised of Directors Simmons (Chairman), Toole, Alexander, Weeks, Moore, Clyburn, Thomas, Harmon and Cummins. The Trust Committee consists of Directors Verenes (Chairman), Alexander, Simmons, Thomas, Moore, Clyburn, Toole, Harmon, Lindburg and Cummins. The Investment Committee consists of Directors Verenes (Chairman), Alexander, Simmons, Thomas, Moore, Clyburn, Toole, Harmon, Lindburg and Cummins. The following table shows the compensation paid to our directors for the year ended December 31, 2023, except for those who are our named executive officers. Frank M. Thomas, Jr.: $85,300 fees earned or paid in cash, $37,600 other compensation, total $122,900.
2025-04-07	Frank M. Thomas, Jr. Age: 78 Role: Director of Security Federal and the Bank Committees: Executive Committee, Audit Committee, Compensation Committee, Proxy Committee, Nominating Committee Compensation: $127,000 Excerpt: 'The Executive Committee, comprised of Directors Simmons (Chairman), Toole, Alexander, Weeks, Verenes Lindburg, Harmon, Thomas, Cummins, Clyburn and Moore... The Audit Committee, comprised of Directors Moore (Chairman), Clyburn, Alexander, Simmons, Thomas, Toole, Harmon and Cummins... The Compensation Committee, which also serves as the Stock Option Committee, is comprised of Directors Simmons (Chairman), Toole, Alexander, Weeks, Moore, Clyburn, Thomas, Harmon and Cummins... The Proxy Committee, which is composed of Directors Simmons (Chairman), Toole, Alexander, Weeks, Moore, Clyburn, Thomas, Cummins and Harmon... The Nominating Committee, consisting of Directors Simmons (Chairman), Toole, Alexander, Weeks, Moore, Clyburn, Thomas, Harmon and Cummins... Compensation: $127,000 (Fees Earned or Paid in Cash $89,400 + All Other Compensation $37,600)'}},{