In Brief: Chief Exec Resigns At Ala.'s SouthFirst

Joe McArthur has resigned as chief executive of SouthFirst Bancshares Inc. of Sylacauga, Ala., after less than four years on the job.

The $144 million-asset company said in its announcement Friday that the decision was made by mutual agreement with the board of directors. Chief operating officer Sandra H. Stephens was named interim CEO.

Mr. McArthur joined First Federal of the South, SouthFirst's subsidiary, as chief financial officer in 1992 and was elected CEO of both the bank and the holding company in September 2001.

For fiscal 2004, which ended Sept. 30, the company lost $528,000, in part because of the writedown of a $2 million commercial real estate loan.