James W. Ayers
Chairman of the Board
Jim Ayers grew up in rural West Tennessee in the town of Parsons, and early on he was
introduced by his parents to the rewards of an honest day of hard work. As he went on to
become one of the state’s most successful and admired businessmen, and a leading
philanthropist, he never forgot the lessons he learned as a young boy. In fact, he has
thrived on them.
Just as Ayers has remained in constant touch with his roots, so has FirstBank – the
financial services company that he nurtured from a single branch in Scotts Hill, Tenn.,
into Tennessee’s largest independently owned and operated bank, with more than $2
billion in total assets and more than 40 locations.
After building successful health care and real estate ventures, Ayers and a business partner in 1984 bought Farmers
State Bank in Scotts Hill. After moving the home office to Lexington, Tenn., in 1986 and acquiring First National Bank
of Lexington, Ayers changed the bank’s name to FirstBank and also became its sole owner. Since then, the bank has
grown tremendously, in terms of both assets and the impact it has had on the communities it serves.
Ayers is perhaps most proud of his contributions to increasing educational opportunities for young people.
In 1999, he established The Ayers Foundation, which supports a wide range of programs and institutions with an
emphasis on education in Henderson and Perry counties, as well as his home county of Decatur. He also established
and funded the Ayers Institute at Vanderbilt University, which conducts advanced cancer research, the Ayers
Children’s Hospital in Jackson, Tenn, and the Ayers Institute for Teacher Learning and Innovation at Lipscomb
University.
In addition to his business interests, he is active in a number of civic, educational and charitable organizations. He is
the recipient of the Association of Fundraising Professionals’ 2007 Philanthropist of the Year Award, the Silver
Beaver Award from the Boy Scouts of America, the Joe Kraft Humanitarian Award from The Community Foundation
of Middle Tennessee and the 2007 Distinguished Alumni Award from the University of Memphis.
Ayers was named a Leader in Banking Excellence by the Tennessee Bankers Association, and holds honorary
doctorates from Freed-Hardeman University, Union University and Bethel University.
About Jim Ayers
A 1961 graduate of Parsons High School, Jim Ayers received a bachelor’s degree in business administration with a
major in accounting from Memphis State University, becoming one of the first in his family to attend college. He is an
avid outdoorsman.
Favorite book: “My American Journey: An Autobiography” by Colin Powell