---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-023486"
form_type: "8-K"
ticker: null
cik: "0001850398"
company_name: "TC Bancshares, Inc."
filed_at: "2023-05-22T23:59:59+00:00"
generated_at: "2026-06-14T18:31:25.209830+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# TC Bancshares appoints Scott McLean as CFO with $210k base salary, 3-year term

## Summary
- McLean appointed CFO of TC Bancshares and TC Federal Bank effective May 18, 2023, succeeding retiring Linda Palmer.
- Employment agreement: 3-year initial term, $210k annual base salary, eligibility for up to 20% bonus, relocation up to $20k.
- Severance: if terminated without cause or for good reason, 12 months base salary; change-in-control triggers additional lump sum equal to base salary plus average bonus.
- Shareholders elected three Class II directors (Bryant, Eiford, Johnson) and ratified Wipfli LLP as independent auditor for 2023.

## SEC filing metadata
- accession: 0000950170-23-023486
- form_type: 8-K
- cik: 0001850398
- company_name: TC Bancshares, Inc.
- filed_at: 2023-05-22T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1850398/000095017023023486/0000950170-23-023486-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1850398/000095017023023486/tcbc-20230127.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-023486
- JSON: https://secwatch.observer/filing/0000950170-23-023486.json
- Plain text: https://secwatch.observer/filing/0000950170-23-023486.txt

## Key facts
- Executive change
  Scott McLean was appointed as Chief Financial Officer at TC Bancshares, Inc..
  - Action: appointed
  - Role: Chief Financial Officer
  source text: appointed Scott “Mac” McLean as Chief Financial Officer
  evidence_url: https://www.sec.gov/Archives/edgar/data/1850398/000095017023023486/0000950170-23-023486-index.htm
- Executive change
  Linda Palmer retired as Chief Financial Officer at TC Bancshares, Inc..
  - Action: retired
  - Role: Chief Financial Officer
  source text: In connection with Linda Palmer’s previously announced retirement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1850398/000095017023023486/0000950170-23-023486-index.htm
- Shareholder Votes
  TC Bancshares, Inc. shareholders approved Ratification of the Company’s Independent Registered Public Accountants at the 2023-05-18 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2023-05-18
  source text: The shareholders ratified the appointment of Wipfli LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1850398/000095017023023486/0000950170-23-023486-index.htm
- Shareholder Votes
  TC Bancshares, Inc. shareholders approved Election of three Class II director nominees at the 2023-05-18 meeting.
  - Proposal: director election
  - Outcome: passed
  - Meeting: 2023-05-18
  source text: The shareholders elected each of the three Class II director nominees to serve a three-year term expiring at the Company’s 2026 annual meeting and until their respective successors are duly elected and qualified.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1850398/000095017023023486/0000950170-23-023486-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.