Thread Bancorp, Inc. Welcomes Banking Veteran Michael Farrell as Chief Financial Officer to Drive Next Phase of Growth
  • Press Release

Thread Bancorp, Inc. Welcomes Banking Veteran Michael Farrell as Chief Financial Officer to Drive Next Phase of Growth

  • threadbank_editor

Former CFO Clif Howard assumes newly established Chief Accounting Officer role

BRENTWOOD, TN / September 24, 2024 – Thread Bancorp, Inc. and Thread Bank (together, “Thread”) today announced the appointment of Michael Farrell as its new Chief Financial Officer, further solidifying Thread’s commitment to enhancing its financial operations and accounting services. Farrell will play a key role in supporting the Bank’s next stage of strategic growth.

In addition, Clif Howard, who served as Thread’s CFO for more than two years, has been named Chief Accounting Officer. In this newly appointed role, he will continue to build upon the foundation of financial and accounting excellence at Thread. Together, Farrell and Howard will collaborate to drive forward the successful business strategies already in place and ensure the Bank’s long-term financial strength.

“We are thrilled to welcome Mike to our leadership team as Chief Financial Officer and to have Clif pioneering the role of Chief Accounting Officer,” said Chris Black, CEO, President, and Director of Thread Bancorp, Inc. and Thread Bank. “Their expertise and vision will be instrumental as we continue to grow and evolve. These appointments reflect our commitment to strengthening our financial strategy, driving innovation, and delivering sustained value to our customers, employees, and partners.”

Farrell brings a wealth of experience in banking and financial services to Thread, having held senior leadership roles such as Chief Operating Officer and Chief Financial Officer at Time Investment Company, as well as President and CFO at Axiom Bank.

“Thread’s tech-forward approach to banking provides an exciting opportunity to leverage my expertise in banking and fintech, helping to scale the Bank’s financial operations as it continues to grow,” Farrell said. “I look forward to working alongside Thread’s leadership team to ensure the Bank remains on strong financial footing as operations continue to scale up.”

With these leadership changes, Thread Bank is well-positioned to continue its trajectory of success, enhancing its financial strategy and expanding its embedded, business, and personal banking capabilities to meet the demands of an evolving marketplace.

To learn more about Thread Bank, please visit www.thread.bank.

About Thread Bank

Thread Bank, a wholly owned subsidiary of Thread Bancorp, Inc., is an FDIC-insured bank providing embedded and digital banking services nationwide and local community banking in Eastern Tennessee. To learn more about Thread Bank, visit thread.bank and connect with them on LinkedIn.

Click here to read the press release online.

Media Contact
Caliber Corporate Advisers
threadbank@calibercorporateadvisers.com

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Thread Sweep Program:

IntraFi Sweep Program for Unit Fintech Partnerships
Through the IntraFi Thread Deposit Sweep Program, available deposits will be “swept” (moved) into deposit accounts at one or more of our Program Banks. Cash deposits made to Program Banks are covered by Federal Deposit Insurance Corporation (“FDIC”) Insurance up to a minimum of $3,000,000 inclusive of deposits you may already hold at the bank in the same ownership capacity. Note: Thread Bank is not responsible for monitoring the amount of deposits in any Program Bank. For more information about the program, see the Thread Sweep Disclosure.

Note: If you have questions about which sweep program is applicable to your deposits with Thread Bank, please contact us at: customerservice@thread.bank.