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Banking and real estate executive Danny Herron selected to succeed president and CEO Chris McCarthy
When Chris McCarthy retires at the end of 2010, she will pass the baton to seasoned banking executive and real estate developer Danny Herron. After a rigorous four-month search process, a search committee composed of board members and other community leaders selected Herron from a pool of 150 applicants.
Herron becomes president on August 2 and will work closely with CEO McCarthy, chief financial officer John Roberts, chief operating officer Ralph Knauss, and chief administrative officer Lucile Houseworth to build on the success McCarthy has brought to Nashville Area Habitat over the past 8 1/2 years. McCarthy will stay on as CEO through the end of the year, and Herron will assume the role of CEO in January 2011.
“We are so fortunate to have found a leader with expertise in both finance and real estate, which are important assets for running a nonprofit that functions as a real estate developer as well as a mortgage lender,” said Matthew Wilson, board chair. “Danny has leadership and development skills that I believe will take Nashville Area Habitat to the next level.”
Herron earned a bachelor’s degree in civil engineering from University of Alabama. After six years working as a civil engineer for Duke Power Company in Charlotte, N.C., Herron moved to Nashville in 1987 to become vice president of real estate development company Republic Properties.
In 1993, he was named president and CEO of the former First Southern Saving and Loan. Under his leadership, First Southern was converted to a commercial bank in 1997, was renamed Cumberland Bank in 2004, and became a publicly traded company (CVBG, NASDAQ) in 2007. Cumberland Bank grew to more than $700 million in total assets (seven times the assets it had when Herron took the helm in 1993) and 14 branches. A study conducted by Middle Tennessee State University recognized Cumberland Bank as one of Nashville’s 25 fastest-growing businesses.
In 2007, Cumberland Bank was acquired by GreenBank, where Herron became regional president. In 2009, Herron returned to real estate by joining Enterprise Construction as president. Enterprise has developed more than 1,000 residential lots and more than 100,000 square feet of commercial real estate in Williamson County.