FirstBank of Lexington, Tenn., has named its chief banking officer as its new president.

The $2.1 billion-asset company said Wednesday that Chris Holmes will take over for Doug Cruickshanks, who will become its vice chairman. Cruickshanks has been president since 2002.

Holmes will be the company's third president since it was purchased by businessman Jim Ayers in 1984. Ayers said in a news release that the change was part of a two-year transition plan.

Holmes joined the bank in 2010 as its chief banking officer and as a director. Prior to joining FirstBank, Holmes was director of corporate financial services and chief retail banking officer for South Financial Group in Greenville, S.C.

Cruickshanks joined FirstBank in 2002 after retiring from Bank of America (BAC), where he was president of the Tennessee region.

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