Jim & Janet Ayers

Jim & Janet Ayers

Jim Ayers

Founder

November 19, 1943 - April 1, 2025
 

Early On

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 grew up to become one of the state’s most successful and admired businessmen, as well as a leading philanthropist, he never forgot the lessons he learned as a young boy. In fact, he has thrived on them.
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.
jim-headshot

Career

Just as Ayers remained in constant touch with his roots, so has FirstBank – the financial services company that he nurtured from a single branch in Scotts Hill, TN, into Tennessee’s largest independently owned and operated bank, with more than $16 billion in total assets and more than 90 locations.

FirstBank, is the third largest Tennessee-headquartered bank, based on total assets. FirstBank provides a comprehensive suite of commercial and consumer banking services to clients in select markets in Tennessee, Kentucky, Alabama, Georgia and North Carolina.

After building successful health care and real estate ventures, Ayers and a business partner bought Farmers State Bank in Scotts Hill in 1984. Two years later, after moving the home office to Lexington, TN and acquiring First National Bank of Lexington, Ayers changed the bank’s name to FirstBank and also became its sole owner. Since that time, the bank has grown tremendously, in terms of both assets and the impact it has had on the communities it serves.

Philanthropy

Despite his enviable business successes across several industries, 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, TN and the Ayers Institute for Teacher Learning and Innovation at Lipscomb University.

In addition to his business interests, Jim was active in a number of civic, educational and charitable organizations. He was 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, the 2007 Distinguished Alumni Award from the University of Memphis, and in 2019 received the Horatio Alger Award.

Ayers was named a Leader in Banking Excellence by the Tennessee Bankers Association, and holds honorary doctorates from Freed-Hardeman University, Union University, Bethel University and University of Memphis.

A Letter From Our Founder

My parents knew the importance of a good education, so from the age of ten, it was drilled into me that I would go to college. But a dear friend in high school, a pupil much brighter and more committed to the love of learning than I, did not have the financial resources to continue an education beyond high school. This friend was forced to take a job that was neither intellectually stimulating nor well paid, while I was able to use my college degree to become financially successful in health care management and banking.
I thought about my friend often and contemplated the circumstances that led to my success, but not his. Because of the many blessings I have received, I determined I wanted to give back in some way. I decided what I could do to help was to guarantee that no child from my hometown of Parsons, Tennessee would be denied a college education due to lack of funds; The Ayers Foundation was born. In the decade since its inception, through financial assistance and guidance counseling, The Ayers Foundation has awarded over 3,000 scholarships. Am I proud of the work the foundation has done? Of course, but I still feel I am receiving more than I am giving back. I don’t know why I have been so successful in my life’s work, but I do know that being able to give back – to help young people get an education, to assist adults who want to go back to school, to allow children to receive excellent medical attention, and now, to have the potential to save 60,000 lives each year through early detection of rectalcolon cancer – has given me more satisfaction and pure joy than anything else I can imagine doing with my life.

Jim Ayers

Janet Ayers

CHAIRMAN

About

Janet Ayers works tirelessly to improve the quality of life of rural Tennesseans. Born and raised in Washington County, she believes in the transformative power of education to open doors.

She served as President of the Ayers Foundation Trust since 2007 and began her role as Chairman in 2025. Under her leadership, the nationally recognized Ayers Scholars Program has expanded to 40 high schools across 28 of Tennessee’s most at-risk and distressed counties, to help nearly 20,000 rural students remove any barriers they face in accessing a quality education and earning a degree or credential that can lead to a rewarding career and a more prosperous life.

Janet shifted her expertise to education and workforce development after a very successful career in healthcare administration. She earned her bachelor’s degree in Health Care Administration from East Tennessee State University in 1986 and went on to spend the next 20 years managing, leading, and providing care for some of East Tennessee’s most vulnerable patients.

During her time as Administrator at Erwin Health Care in Erwin, TN, she was an active member of the Tennessee Health Care Association (THCA) and received the Distinguished Professional Service Award and the Distinguished Association Service Award. She has held multiple leadership positions at several statewide organizations, including serving as President of the Tennessee Health Care Association, and as a commissioner of the Tennessee Health Facilities Commission for five years. In 2015, she completed her Masters of Professional Studies in Strategic Leadership from East Tennessee State University. A loving mother and grandmother, Janet resides in Nashville, Parsons, and Erwin, Tennessee.

Janet actively supports and helps guide numerous civic, educational, healthcare, and charitable organizations, serving on multiple boards, including, but not limited to: 
  • Belmont University, Board of Trustees
  • East Tennessee State University, Board of Trustees
  • State Collaborative on Reforming Education (SCORE), Board of Directors
  • ExcelinEd, Board of Directors
  • Andrew Jackson Foundation, Board of Directors
  • Leadership Tennessee, Inaugural Member
  • Unicoi County Economic Development Board
  • United Way of Unicoi County, Board of Directors
  • American Friends of the Musee’ d’Orsay, Board of Directors

Meet Our Team

Meet our dedicated team at Ayers Foundation Trust: a group of passionate individuals committed to making a positive impact for Tennesseans. Together, we strive to empower and uplift those in need through our collective expertise and unwavering dedication to our mission.
OUR TEAM

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