On October 23, Addison-based Guaranty Bancshares Inc., the parent company of Guaranty Bank & Trust NA, announced that Clifton A. “Cappy” Payne, senior executive vice president and chief financial officer of the company, plans to retire March 31, 2024, after 40 years with the company and 35 years as its principal accounting officer. He will step down as CFO this December and will be succeeded by Shalene Jacobson. Jacobson joined the bank in 2016 and currently serves as executive vice president and chief financial officer of the bank. She will retain that title after her appointment as CFO of the company.
Payne advised senior management and the board well in advance of his intention to retire to enable an orderly and effective leadership transition. Upon his retirement, Payne and Jacobson will have worked side-by-side as CFOs of the company and the bank, respectively, for two years as part of the bank’s long-term succession planning and transition. Payne will continue to serve on the board of directors until his retirement date.
“While we have been planning for this transition for a number of years and wish Cappy well in his upcoming retirement, he will certainly be missed,” says Ty Abston, the company’s chairman and chief executive officer. “Cappy has not only been a significant contributor to our company’s growth over the past 40 years, he’s been instrumental in the development of our strong culture, leading to many years of success for the bank.”
Payne joined Guaranty Bank & Trust in 1984, was named controller in 1988 and was elected to the board of directors of both the bank and the company in 1995. He was promoted to executive vice president and chief financial officer for both the bank and the company in 1996. Payne is a graduate of Baylor University and is a certified public accountant.
“I am proud to have had the opportunity to be a part of the strategic guidance and financial leadership for Guaranty as we grew the bank, customer confidence and shareholder value,” Payne says. “It’s been rewarding over the years to be part of a team that shares the same vision and values as owners of the company and to gain the trust and confidence of our employees and shareholders.”
Established in 1913, Guaranty Bank & Trust NA has 32 banking locations across 26 Texas communities located within the East Texas, Dallas/Fort Worth, Houston and Central Texas regions of the state.