Porter Bancorp, Inc. Appoints Two New Board Members
September 23 2015 - 4:10PM
Business Wire
James M. Parsons Joins Porter Bancorp and
PBI Bank Boards
Dr. Edmond J. Seifried Joins Porter Bancorp
Board
Porter Bancorp, Inc. (NASDAQ: PBIB), parent company of PBI Bank,
Inc., today announced the addition of new members to its board of
directors. James M. Parsons was appointed as a board member of
Porter Bancorp and PBI Bank, and Dr. Edmond J. Seifried was
appointed as a board member of Porter Bancorp.
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Dr. Edmond J. Seifried (Photo: Business
Wire)
Mr. Parsons is CFO of Ball Homes, LLC, a residential real estate
development firm headquartered in Lexington, Ky. that has
operations in Kentucky and Tennessee. He previously served as
President and CEO of ONB Insurance Group and has held various board
positions for a variety of companies and charitable organizations,
including serving as an advisory board member for two community
banks. He is a CPA and has degrees in business administration and
accounting from West Virginia University.
Dr. Seifried is Co-Chairman of Seifried & Brew, LLC, a
community bank education center. He is also the Executive
Director of the Sheshunoff Affiliation Program, which provides
education and idea exchanges for community bank executives. Dr.
Seifried is also Professor Emeritus of Economics and Business at
Lafayette College in Easton, Pa. He has taught at numerous
banking schools, regularly speaks at banking events, and has prior
experience as a community bank director. He is a co-author of the
book “The Art of Strategic Planning in Community Banks.” Dr.
Seifried has a doctorate degree in economics and business from West
Virginia University.
“We welcome Mr. Parsons and Dr. Seifried to the boards of Porter
Bancorp and PBI Bank,” said John T. Taylor, Porter Bancorp
President and CEO. “Their skill sets and experience in finance and
banking will be important additions to our team. We are very
fortunate to have their counsel as we position PBI Bank to grow and
build shareholder value in the future.”
About Porter Bancorp, Inc.
Porter Bancorp, Inc. (NASDAQ: PBIB) is a Louisville,
Kentucky-based bank holding company which operates banking centers
in 12 counties through its wholly-owned subsidiary PBI Bank. Our
markets include metropolitan Louisville in Jefferson County and the
surrounding counties of Henry and Bullitt, and extend south along
the Interstate 65 corridor. We serve southern and south central
Kentucky from banking centers in Butler, Green, Hart, Edmonson,
Barren, Warren, Ohio and Daviess counties. We also have a banking
center in Lexington, Kentucky, the second largest city in the
state. PBI Bank is a traditional community bank with a wide range
of personal and business banking products and services.
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.
PBIB-G
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Porter Bancorp, Inc.John T. Taylor, 502-499-4800Chief Executive
Officer
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