Current Report Filing (8-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 16, 2015

WESTBURY BANCORP, INC.

(Exact Name of Registrant as Specified in Charter)



Maryland	001-35871	46-1834307
(State or Other Jurisdiction of Incorporation)	(Commission File No.)	(I.R.S. Employer Identification No.)



200 South Main Street, West Bend, Wisconsin		53095
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (262) 334-5563

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17

CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17

CFR 240.13e-4(c))



Item 5.02.	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 16, 2015, the Board of Directors of Westbury Bancorp, Inc. (the “Company”) announced the appointment of Greg J. Remus, 45, President and Chief Operating Officer of the Company and its subsidiary, Westbury Bank (the "Bank"), as President and Chief Executive Officer of the Company and the Bank effective October 1, 2015. Raymond F. Lipman will continue to serve as the Chairman of the Board of the Company and the Bank.

Mr. Remus has been employed by Westbury Bank since 2009. From 2009 through February 2014, he served as Senior Vice President of Lending. He was appointed as Chief Operating Officer in February 2014 and as President effective January 1, 2015. Mr. Remus has over 20 years of experience in the financial services industry.

Mr. Remus has two mortgage loans with the Bank. The first is on his primary residence for $416,000 made in December 2014 and the second is for construction of a new primary residence for $450,000 made in May 2015. Both loans were originated through an employee loan program pursuant to which loans are made at a discount of 50 basis points to the Bank's regular loan rates. The principal balance was approximately $406,113 as of June 30, 2015. Mr. Remus, as of June 30, 2015 has paid approximately $9,887 in principal and approximately $5,036 in interest on the loan since September 30, 2014. The current interest rate on the loan is 2.25%. The principal balance on the second loan was approximately $450,000 as of June 30, 2015. Mr. Remus, as of June 30, 2015, has paid no principal or interest on the loan as of June 30, 2015 as the first payment was due July 1, 2015. The current interest rate on the loan is 3.375%.

A copy of the press release is included as Exhibit 99.1 to this report and is incorporated herein by reference.



Item 9.01.	Financial Statements and Exhibits.

(a)	Financial Statements of Businesses Acquired. Not applicable.

(b)	Pro Forma Financial Information. Not applicable.

(c)	Shell Company Transactions. None.

(d)	Exhibits.
	99.1 Press Release Dated July 16, 2015

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



		WESTBURY BANCORP, INC.
DATE: July 17, 2015	By:	/s/ Kirk J. Emerich
		Kirk J. Emerich
		Senior Vice President - Chief Financial Officer

Contact:

Noe Pacheco

Westbury Bank

262.289.6666

noe.pacheco@westburybankwi.com

FOR IMMEDIATE RELEASE

Westbury Bancorp, Inc. Names Greg Remus Chief Executive Officer

West Bend, Wis., July 16, 2015, Westbury Bancorp, Inc. (NASDAQ: WBB) - The Board of Directors of Westbury Bancorp, Inc. (the “Company”) appointed Greg J. Remus Chief Executive Officer (CEO) of the Company and its subsidiary, Westbury Bank (the “Bank”), effective October 1, 2015. Remus will succeed Ray Lipman who will be stepping down as Chief Executive Officer for the Company and the Bank. Lipman will continue to serve as Chairman of the Board for the Company and the Bank and will focus on corporate governance, strategic planning and growth opportunities.

The actions by the Board of Directors continue the management succession plan put in place several years ago. In January 2014, Remus was named Chief Operating Officer and in January 2015, he was named President of both the Company and the Bank. Remus has been an officer of the Bank since August 2009, and served in a number of positions of the Bank since that time. Prior to joining Westbury Bank, Remus had 18 years of commercial banking experience with a number of commercial banks.

In 2012, the Board of Directors made a strategic decision to aggressively transform the Bank’s operations to a community commercial business bank. This most recent promotion of Remus to CEO is the final step for Westbury’s transformation. This change is reflected in the Bank’s current balance sheet, with its loan portfolio consisting of 65% business loans vs. 35% retail loans, and a deposit structure of nearly 80% transaction accounts.

“We have improved the overall financial performance of our business during this transition,” said Remus. “We will continue to execute our strategy to grow and improve our economic status.”

The Company and Bank’s strategic focus as a community commercial banking model also resulted in the Board of Directors creating three new senior management positions effective as of October 1, 2015. Kirk Emerich was named Executive Vice President - Chief Financial Officer and Investor Relations. Glenn Stadler was named Executive Vice President - Chief Commercial Lending Officer. Peter Lee was named Executive Vice President - Chief Community Banking Officer.

Emerich, who has over 25 years of experience in financial reporting and banking, will be responsible for investor relations, enterprise risk management and all financial matters and will continue to serve as Chief Financial Officer. Stadler, who has over 25 years business banking experience, will be responsible

for developing and managing business banking relationships, overall production of business lending, cash management services and commercial deposit growth. Lee, in his expanded role, will be responsible for overall retail lending including sales production of all retail products in our branch network and has retail banking experience of over 30 years.

“Our management team remains focused on improving the bank and achieving its potential to be the best bank in Wisconsin,” Remus stated.

About Westbury Bancorp, Inc.

Westbury Bancorp, Inc. is the holding company for Westbury Bank. The Company’s common shares are traded on the Nasdaq Capital Market under the symbol “WBB”.

Westbury Bank is an independent community bank with over $625 million in assets. Westbury Bank serves communities in Washington, Waukesha and Outagamie Counties through its eight full service branches and one loan production office providing deposit and loan services to individuals, professionals and businesses throughout its markets.

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