Porter Bancorp, Inc. Holds Annual Meeting of Shareholders
May 28 2014 - 10:00AM
Business Wire
Shareholders Elect Seven Directors
Porter Bancorp, Inc. (NASDAQ: PBIB), parent company of PBI Bank,
announced today that its shareholders elected seven directors,
approved a non-binding advisory vote on the compensation of the
company’s executives, approved an amendment to the 2006
Non-employee Director Incentive Stock Plan, and approved an
amendment to the 2006 Stock Incentive Plan at its annual meeting of
shareholders.
In comments made at the meeting, John T. Taylor, President and
CEO of Porter Bancorp, Inc., stated, “On behalf of Porter Bancorp
and PBI Bank, we acknowledge outgoing board members David L.
Hawkins, Sidney L. Monroe, Jr. and Stephen A. Williams today and
offer our sincere gratitude for the time and effort they’ve
dedicated to our board as we’ve worked to move the bank
forward.
“We also want to recognize three new additions to the board and
officially welcome Marc Satterthwaite, Mark Wheeler and Mike Levy
to our solid team of directors,” continued Taylor. “I personally am
very excited about the experience and expertise they bring to the
table as we seek out growth opportunities and provide outstanding
service to our customers.”
At the meeting, shareholders elected the following as directors
to serve for a one-year term:
- W. Glenn Hogan – Chairman of Porter
Bancorp, Inc. and CEO of a commercial real estate development
firm
- Michael T. Levy – Vice President of
Brown & Brown, a Lexington-based insurance brokerage firm
- William G. Porter – Retired CPA and
manufacturing executive
- N. Marc Satterthwaite – Vice President,
Director of Sales Operations, North America, for Brown-Forman
Corporation, a diversified producer of fine quality consumer
products
- John T. Taylor – President and CEO of
Porter Bancorp, Inc., and President and CEO of PBI Bank, Inc.
- Mark F. Wheeler – Chief Financial
Officer of PT Development, a Louisville-based management firm that
specializes in providing management and other operational
efficiencies to privately held physical therapy practices
- W. Kirk Wycoff – Managing Member of
Patriot Financial Partners, L.P., a private equity fund focused on
investing in community banks, thrifts and other financial service
related companies
About Porter Bancorp, Inc.
Porter Bancorp, Inc., a bank holding company headquartered in
Louisville, Kentucky, had $1.1 billion in assets as of
March 31, 2014. Through Porter’s subsidiary PBI Bank, it operates
18 full-service banking offices 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. The words “believe,”
“may,” “should,” “anticipate,” “estimate,” “expect,” “intend,”
“objective,” “seek,” “plan,” “strive” or similar words, or
negatives of these words, identify forward-looking statements.
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.
PBIB-G
Porter Bancorp, Inc.John T. Taylor, 502-499-4800Chief Executive
Officer
Porter Bancorp, Inc. (delisted) (NASDAQ:PBIB)
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