Board of directors of Highlands Bankshares Inc. at its meeting held March 13, 2012, has decided to combine the positions of Chairman of the board and President and CEO of the company. Upon doing so, the board appointed Mr. John G. Van Meter, the company's current Chairman of the board, to also serve as the company's President and CEO. The board and executive management have agreed that based on the board's and management's oversight at the subsidiary level, the combination of the Chairmen and CEO is economically beneficial at this time. Mr. Van Meter has served as a Highlands board member since May 1985 and has served as board member of The Grant County Bank, since 1977. Mr. Van Meter will assume the role of President and CEO of the company effective from May 8, 2012.