Porter Bancorp, Inc. Appoints Bradford T. Ray As New Director
December 30 2014 - 4:30PM
Business Wire
Porter Bancorp, Inc. (NASDAQ: PBIB), parent company of
PBI Bank, today announced that Bradford T. Ray has been
appointed to the boards of directors of Porter Bancorp, Inc. and
PBI Bank, Inc.
Bradford T. Ray, pictured, has been
appointed to the boards of directors of Porter Bancorp, Inc. and
PBI Bank, Inc. (Photo: Business Wire)
Ray, age 56, served in various leadership roles at Steel
Technologies, Inc. from 1981 - 2010, including Chairman and CEO. He
also served as an advisor to Steel Technologies, Inc. from 2010 -
2012. He has been a consultant with BTR Advisory Services since
2012 and has been an independent director at Global Brass and
Copper Holdings, Inc. since Dec. 2014. Mr. Ray also serves on
Bellarmine University’s Board of Trustees in Louisville, Ky.
“We welcome Mr. Ray to the boards of Porter Bancorp and PBI Bank
and appreciate his commitment to the future of our organization,”
stated John T. Taylor, President and CEO of Porter Bancorp, Inc.
“He brings significant leadership experience to us and will add a
valuable perspective to our team.”
Porter Bancorp and PBI Bank have received notice of
non-objection from its primary regulators to appoint Ray to its
boards of directors. Mr. Ray fills the board positions being
vacated by the retirement of William G. Porter as a director of
Porter Bancorp and PBI Bank.
“We also extend our sincere gratitude at this time to Mr. Porter
for his dedication and leadership. We are extremely grateful for
his advice and counsel over the many years he has served the bank,”
added Taylor.
About Porter Bancorp, Inc.
Porter Bancorp, Inc., a bank holding company headquartered in
Louisville, Kentucky, had $1.0 billion in assets as of
September 30, 2014. Through Porter’s subsidiary PBI Bank, it
operates banking offices in Kentucky. Porter Bancorp’s common stock
is traded on the Nasdaq Capital Market under the symbol “PBIB.”
PBIB-G
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,” “possible,” “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 indicated by forward-looking
statements due to various risks and uncertainties, including our
ability to reduce our level of higher risk loans such as commercial
real estate and real estate development loans, reduce our level of
non-performing loans and other real estate owned, and increase net
interest income in a low interest rate environment, as well as our
need to increase capital. These and other risks and uncertainties
are described in greater detail 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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http://www.businesswire.com/multimedia/home/20141230005615/en/
Porter Bancorp, Inc.John T. Taylor, 502-499-4800Chief Executive
Officer
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