Porter Bancorp, Inc. Holds Annual Meeting
May 21 2009 - 4:01PM
Business Wire
Porter Bancorp, Inc. (NASDAQ: PBIB), parent company of PBI Bank,
announced today that shareholders elected six directors and
approved a non-binding advisory vote on the compensation of the
company�s executives at its annual meeting of shareholders.
In comments at the meeting, Maria L. Bouvette, President and CEO
of Porter Bancorp, Inc., said, �We expect to report continued
growth in loans, deposits and assets in 2009 as we focus on
building our share of existing markets. We also expect to grow our
net interest margin based on our outlook for downward repricing of
liabilities. We remain focused on managing credit risks and we
believe our current level of non-performing assets is
manageable.�
At the meeting, shareholders elected the following as directors
to serve for a one-year term:
- Maria L. Bouvette � President
and Chief Executive Officer of Porter Bancorp, Inc.
- David L. Hawkins � Farmer and
Private Investor
- W. Glenn Hogan � Founder,
President and Chief Executive Officer of Hogan Real Estate
- Sidney L. Monroe � Retired
Certified Public Accountant
- J. Chester Porter � Chairman of
the Board and General Counsel of Porter Bancorp, Inc.
- Stephen A. Williams � President
and Chief Executive Officer of Norton Healthcare
Shareholders also approved a non-binding advisory vote on the
compensation of the company�s executives.
About Porter Bancorp,
Inc.
Porter Bancorp, Inc., a bank holding company headquartered in
Louisville, Kentucky, had $1.6�billion in assets as of March 31,
2009. Through Porter�s�subsidiary PBI Bank, it operates 19
full-service banking offices in 11 counties in Kentucky. Porter
Bancorp�s common stock is traded on the Nasdaq Global Market under
the symbol �PBIB.�
Forward-Looking Statements
Statements in this press release relating to Porter Bancorp�s
plans, objectives, expectations or future performance are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are based on management�s current expectations. Porter
Bancorp�s actual results in future periods may differ materially
from those currently expected due to various risks and
uncertainties, including those discussed under �Risk Factors� in
the Company�s Form 10-K and subsequent periodic reports filed with
the Securities and Exchange Commission. The forward-looking
statements in this press release are made as of the date of the
release and Porter Bancorp does not assume any responsibility to
update these statements.
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