The banker responsible for building FB Financial in Nashville, Tenn., has died.
Jim Ayers passed away on April 1. Once the sole owner of FirstBank, his ownership amounted to 23% of the company’s stock following its initial public offering.
FB Financial noted in a regulatory filing that a shareholder’s agreement with Ayers terminated with his passing. Under that agreement, Ayers had the right to designate up to a fifth of the company’s directors and at least one member of the board’s nominating and corporate governance and compensation committees.