Here's what the Southern Baptist Convention says on the issue:
3. Can a divorced person serve as a pastor (or deacon) in an SBC church?
4. Can a divorced pastor conduct baptisms or serve the Lord's Supper in an SBC church? Once again, because of the autonomous nature of SBC churches, there is no policy within the Convention that addresses these matters. Each church directs its own affairs apart from outside intervention, deciding for itself how to deal with such matters.
Some Southern Baptist churches have called pastors or elected deacons who had been divorced, but there is no way of knowing how many have done so. There are Southern Baptist churches that would not base their decision on the issue of divorce. Others would want to know if the divorce fell within the parameters of what some refer to as a "biblically allowed" divorce. Still other Southern Baptist churches view 1 Timothy 3:2 as barring any divorced man from pastoral or deacon ministry. Again, there is no way for us to know the actual numbers, but there likely is a significant number of churches representing each view. Most churches probably fall into either of the last two categories.
The last two categories are the "exception clauses to divorce" and "no divorced deacons." You can read my article regarding the biblical exceptions to divorce and remarriage.
Other considerations on this issue is if a man is saved after his divorce. Colossians 2:13 states upon salvation, we're made alive with Christ and forgiven of our past.
Another view is how a man has lived decades after his divorce. If someone had a quick marriage and divorce at a young age, and now has been faithfully married for 30+ years - this is a different scenario than someone experiencing divorce last year. This view is promoted in a well-written article from Southern Baptist leader Joe McKeever. You can read it here.
What do I believe? Mark 10:9 states not to get divorced, but Matthew 5:32 offers the exception of "sexual immorality." If a man's divorce falls within one of the two biblical exceptions, he should not be disqualified to serve as a deacon. Remember, though, if the divorced man gets remarried, he becomes disqualified (Luke 16:18). Only death releases someone from marriage (Romans 7:2-3; 1 Corinthians 7:39). Scripture does not allow remarriage after divorce (Deuteronomy 24:1-4; Matthew 19:9). Divorce isn't what disqualifies most deacons, it's remarriage.
Here's a summary of the four major views of whether a divorced man is allowed to serve as deacon:
1). Not allowed - divorce disqualifies.
2). Allowed if divorce occurred before conversion to Christ.
3). Allowed if man has been faithfully married many years to current wife.
4). Allowed if divorce fell within biblical exceptions - and not remarried. (What I believe)