OXFORD, Mich., March 17 /PRNewswire-FirstCall/ -- The board of directors of Oxford Bank Corporation (BULLETIN BOARD: OXBC) , the holding company for Oxford Bank, announced today that effective March 31, 2006, Jeffrey M. Davidson will be appointed to president and chief executive officer of the Corporation. Mr. Davidson is also the president and chief executive officer of Oxford Bank. He became the 11th president and seventh CEO in Oxford Bank's 122-year history in December of 2003. Randall G. Fox will remain as chairman of both the Bank and the Corporation. He had served as president and chief executive officer of the Corporation since its formation in 1987.
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Mr. Davidson began his 20-year career with Oxford Bank in September of 1985 as an assistant vice president with responsibility for branch administration. He was promoted to vice president in December of 1987, senior vice president in June of 1991, and executive vice president in December of 2001. Mr. Davidson served as the Bank's retail banking officer from 1991 to 2004. Prior to joining Oxford Bank, Mr. Davidson served as regional branch manager for a large, regional banking institution based in Michigan.
A banker for 29 years, he holds a bachelor's degree from Central Michigan University, an MBA from Oakland University, and a diploma from the Prochnow Graduate School of Banking at the University of Wisconsin.
Mr. Davidson has also involved himself in numerous local and industry-wide organizations. He is a 22-year member, past president, and two-time Paul Harris Fellowship Award recipient of the Oxford Rotary Club. He is active within the Michigan Bankers Association, and is past chairman, and current vice chairman of the Michigan Bankers' Workers Compensation Fund. Mr. Davidson also serves on the board of the Michigan Association of Community Bankers Service Company, and is an active supporter of many local civic and charitable endeavors.
Raised in Oxford, Mr. Davidson and his family are current residents of Metamora.
Randall G. Fox, announced the appointment and commented, "This move furthers an agenda first initiated by our board of directors more than two years ago. This is the 'next step' for Jeff as the Corporation completes its successor management transition. Jeff is an outstanding banker and leader. He exemplifies the spirit and tradition of Oxford Bank and community banking. I congratulate him on an appointment well deserved."
Mr. Davidson added, "I am truly honored by the on-going confidence that Mr. Fox and the board of directors show in me. Oxford Bank Corporation is an outstanding franchise whose officers, managers, and employees continue to embody our 122-year tradition of community banking. I am excited about the future of our organization and look forward to what may lay ahead."
Oxford Bank Corporation is a registered holding company with over $500 million in total assets. Its subsidiary, Oxford Bank, is the oldest commercial bank in Oakland County and operates eight full-service offices in Clarkston, Davison, Dryden, Goodrich, Lake Orion, Oakland Township, Ortonville, and Oxford. It also manages a consumer-lending center in Oxford and a commercial-lending office in Lake Orion. The Bank has operated continuously under local ownership and management since it first opened for business in 1884.
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