First Federal Bank Names Wewers CEO

Christopher Wewers will succeed Dabbs Cavin as CEO of First Federal Bank and its holding company, First Federal Bancshares of Arkansas Inc., according to a company news release issued Thursday.

Wewers, currently president and COO, will assume his new role effective June 30. He was elected by the companies’ boards of directors.

Cavin has served as CEO since Bear State Financial Holdings’ $46.3 million recapitalization of the Bank in May 2011. He will serve as executive vice chairman of the company and bank boards.

According to the release, the bank has made “significant progress under the leadership of Mr. Cavin and Mr. Wewers since Bear State’s investment.”

Also according to the release, the company returned to profitability for the year that ended Dec. 31, and had its cease-and-desist order terminated on Jan. 15.

“Dabbs originally agreed to lead the bank until it was in a position of strength and he will now take his new role as executive vice chairman, where he can continue to work with Chris and me on the strategic opportunities we see in front of us,” company and bank chairman Rick Massey said in the release.

The company’s stock was trading at $10 per share early Friday. It has traded between $6.77 and $10.74 over the last year.