First Security Group Names Michael Kramer as CEO and Director [Professional Services Close – Up]

Financial services veteran Michael Kramer has been named chief executive officer and director of First Security Group, Inc.

As previously announced on December 6, Kramer was appointed as chief executive officer of FSGBank, N.A., the community-bank subsidiary of First Security. According to the Company, FSGBank is a $1.1 billion bank based in Chattanooga, Tennessee with 31 full- service offices in eastern and middle Tennessee and northern Georgia.

"Certainly 2011 has been a year of change and transition for FSG," said First Security Group Lead Director Carol H. Jackson. "With this appointment, Mike can now lead the company in all aspects. As a shareholder of FSG, I consider today an exciting day as we can focus our complete attention on creating a successful, profitable community bank."

Kramer most recently was managing director of Ridley Capital Group, a private equity/merchant banking firm focused on financial service companies. He has more than 20 years of executive leadership in commercial and retail banking, correspondent banking, credit and risk management, treasury management services, banking operations/ technology and market management.

Kramer succeeds Roger Holley, who resigned as CEO in April 2011. Kramer will also serve as President of First Security and FSGBank as well as a director of FSGBank, subject to regulatory non- objections.

As an inducement to Kramer joining First Security and as a material term of his at-will employment agreement, he was awarded 35,000 shares of First Security's common stock. The Company noted the stock closed at $1.78 on December 28. As a result of the grant, First Security has approximately 1,684,000 issued and outstanding shares.

Prior to his tenure with Ridley Capital, Kramer was president and CEO of Ohio Legacy Corp., a bank holding company based in Wooster, Ohio. During his five-year tenure, he led a Board and management reorganization, executed a credit turnaround strategy and balance sheet transformation, which resulted in the recapitalization of the company by Excel Bancorp.

From 1999 to 2004 he was chief operating officer and chief technology officer at Evansville, Indiana-based Integra Bank Corp., where he led a team that transformed operating, technology and product platforms. His teams built the bank's Treasury Management, Electronic Banking and Mortgage Banking businesses.

Among other career highlights, Mike led the correspondent banking practice at Cincinnati-based Star Bank,N.A. (kna as US bank) building the practice into the second largest Correspondent Bank in Kentucky and Ohio, was a member of the Strategic Advisory Board for Fiserv/CBS from 2001 to 2004 and led various key initiatives with Deluxe Corp., a Fortune 500 financial services company.

More information:

FSGBank.com

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