Security Federal Corp. President and CEO Tim Simmons has retired from his position and will be succeeded by J. Chris Verenes, chairman of the board and chief executive officer of Security Federal Bank.Security Federal Corp. announced Simmons' retirement Thursday; his retirement became official on Jan. 1.Simmons will continue to serve as the company's chairman of the board and as a bank director."I will be remaining as chairman of the board of Security Federal Corp., which is the holding company of Security Federal Bank. I'll remain active on the board and serving on various committees such as the executive committee, loan committee, trust committee and audit committee," said Simmons. "I'll be catching up on a lot of things; I'll be staying busy. I'll still be involved with the railroad depot, I'm still on the board of Hitchcock Woods Foundation, and I'm still the chairman of the board of the Aiken County Commission for Higher Education and the board of trustees of Aiken Technical College. I've got a lot of interests in the community.""Tim's leadership and dedication are evident in the success the company and the bank have enjoyed over the years," Verenes said. "Our company, board, employees and stockholders are indebted to him for his many contributions to the company. I am pleased that he will continue to serve as a director, and, as a result, we will have the ongoing benefit of his knowledge in our successful operation."Simmons has served as president of the company since 1987 and as CEO since 1994. Before taking these positions, Simmons served as president of the bank from 1987 to 2001 and as CEO of the bank from 1988 until his retirement."The other directors and I are very pleased that Chris is taking over management of the company. During the past year, he has been successful in the management of the bank and in the completion of the bank's charter conversion to a South Carolina commercial bank. I'm excited to provide my continued support from the board room and to watch Chris continue in his leadership of our organization," Simmons said. "We've got a great management team and I'm very fortunate to be able to retire with such a great team to take over."The company also announced that the bank's executive vice president, W. Barry Adams, has been appointed to the board of directors.Security Federal Corp. is the bank holding company for Security Federal Bank. The bank has 13 full-service branch locations in Aiken, Clearwater, Graniteville, Langley, Lexington, North Augusta, Wagener, Columbia, West Columbia and in Evans, Ga.Suzanne Stone is a general assignment reporter at the Aiken Standard. Contact Suzanne Stone at, or follow on Twitter at #SuzanneRStone and on Facebook at Suzanne Stone | Aiken Standard.