FOR IMMEDIATE RELEASE
Tuesday, August 26, 2004

GOVERNOR HALEY BARBOUR APPOINTS COMMISSIONER OF THE MISSISSIPPI DEPARTMENT OF BANKING AND CONSUMER FINANCE

(Jackson, Miss.) - Governor Haley Barbour reappointed Mr. John S. Allison, of Ridgeland, the Commissioner of the Department of Banking and Consumer Finance. Allison has served in that capacity since July 1, 2000.

"I am very proud of this appointment," said Governor Barbour. "John has extensive experience within the Department, and has been in the field of banking his entire career. He brings a wealth of talent to the table, and Mississippi is fortunate to have him continue to serve as Commissioner."

Mr. Allison began his career with the Department on February 28, 1972 serving in various capacities, including Deputy Commissioner. He was also Acting Commissioner from January 29, 1996 to August 11, 1997. He attended the University of Mississippi attaining a Bachelor of Business Administration degree, while majoring in Banking and Finance. Upon graduation, Mr. Allison served for two years in the United States Army and was awarded the Bronze Star Medal. Mr. Allison is also a graduate of the School of Banking of the South, Louisiana State University. He was elected Chairman of the Conference of State Bank Supervisors in 2004. He began a term as a member of the State Liaison Committee of the Federal Financial Institutions Examination Council on May 1, 2002. Mr. Allison is married to the former Jan Garner of Kosciusko, Mississippi, and they have two grown children.

The primary functions of the Department of Banking and Consumer Finance are to insure the safety and soundness of the financial institutions chartered under state authority and to monitor the institutions' compliance with governing laws and regulations.

The Department additionally serves as a regulatory interpreter for the institutions supervised and considers various applications for charters, branching, licensing, or other permissible activities. The Department may also bring various supervisory and enforcement actions against an institution to preserve regulatory practices and principles. In order to preserve the public interest, the Department may find it necessary to close an institution operating in a unsafe and unsound manner.

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