Dec. 30, 2009 – Agreement issued for 2,200,000 shares of common stock, $.01 par value per share to seven investors

Dec. 8, 2009 -

• Chief Executive Officer resigned [ Tracy Newton ]
• Chief Credit Officer resigned [ Adam Teague ]
• Head of foreclosed real estate resigned [ Rusty Beamon ]

Interim COO Danny Jett said the decisions to resign were all personal decisions.

Nov. 17, 2009 -

• CEO is placed on leave pending a review for alleged violations of foreclosed real estate procedures [ Tracy Newton ]
• CCO is placed on leave pending a review for alleged violations of foreclosed real estate procedures [ Adam Teague ]
• Head of Foreclosed Property is placed on leave pending a review for alleged violations [ Rusty Beamon ]

Interim COO is hired that has previous history with a failed Georgia bank [ Danny Jett ]. Appalachian Bancshares hires Stewart Long & Associates as consultants. An Interim Chief Credit Officer [ Fred Smith ] and interim “head of special assets” [ Kirk Rankin ]  join APAB.

Nov, 2009 – Stock trading at 0.30 per share

Oct, 2009 – Voluntary delisting from NASDAQ

April 24, 2009 – An agreement is signed with the Federal Deposit Insurance Corp to reduce the concentration in real estate loans.

Aug. 15, 2008 – Chief Operating Officer and Executive Vice President resigns [ Keith Hales ]
Interim COO [ Danny F. Dukes ]

Late 2006 – APAB stock peaks at $24

* The information provided on this page is not guaranteed to be accurate but is believed to be so.