Murfreesboro bank founders resign

Jack and Ben Weatherford have stepped down from their executive roles — senior chairman and president/COO, respectively — to help five-year-old MidSouth Bank cut costs.

"The size of this downturn caught all of us a little off guard,'' Jack Weatherford said. "I've been in this 40 years and have been through several cycles, and I've never seen one this severe."

SEE ALSO: MidSouth's first-quarter report, which detailed some of the other savings measures already enacted, moves that included cutting director fees and renegotiating the bank's data-processing deal