Mid Penn Bancorp, Inc. Holds Annual Meetings
2008年4月25日 - 2:44AM
ビジネスワイヤ(英語)
The Annual Shareholder and Organization Meetings of Mid Penn
Bancorp, Inc. (AMEX:MBP) were held on April 22 and April 23,
respectively, at Mid Penn Bank, 349 Union Street, Millersburg,
Pennsylvania. Matthew G. DeSoto, Robert C. Grubic and Gregory M.
Kerwin were re-elected to serve a three-year term on the Board of
Directors of Mid Penn Bancorp, Inc. Other Directors currently
serving are Jere M. Coxon, Alan W. Dakey, A. James Durica, Theodore
W. Mowery, Donald E. Sauve, and William A. Specht, III. Retiring
from the Board were Edwin D. Schlegel and Guy J. Snyder, Jr. A
proposal submitted by a shareholder requesting the elimination of a
classified Board of Directors to require that all Directors stand
for election annually was not approved by the shareholders.
Chairman Dakey gave a brief overview of the organization�s history,
making particular mention of the 140th year anniversary that the
Bank will celebrate in 2008. Headquartered in Millersburg since
1868, Mid Penn Bank has $536 million in assets and operates 15
community offices in four counties�Cumberland, Dauphin,
Northumberland, Schuylkill�and offers comprehensive Internet
banking services. Dakey reviewed performance measures and
emphasized a number of strategic choices the Bank made in 2007 that
resulted in a strong financial position for the start of 2008. Mid
Penn Bank did not engage in sub-prime lending, suffer any losses
attributable to investments in collateralized mortgage obligations,
or finance speculative real estate development. Growth activities
for 2007 included the opening of community offices in Camp Hill on
Market Street and in Elizabethville on Route 209. A retooled web
site offers new features and online functions for customers.
Infrastructure investments include a new mainframe IT system and
enhanced software. Dakey concluded his remarks by acknowledging the
challenges ahead in 2008 related to the economy and emphasizing Mid
Penn�s solid position and opportunities presented by other bank
mergers which have caused disruption in the market. At the
Organization Meeting, the Board of Directors waived the retirement
age policy for Edwin D. Schlegel and appointed him to the Board of
Directors as a Class B Director. Mr. Schlegel has served on the Mid
Penn Bancorp, Inc. Board of Directors since its formation in 1991
and on the Mid Penn Bank Board of Directors since 1981. The Bank
has experienced strong growth and solid financial performance. In
order to promote and demonstrate strong corporate governance, the
Board of Directors elected Mr. Schlegel to serve as Chairman of the
Board of Mid Penn Bancorp, Inc. Mr. Schlegel will succeed Alan W.
Dakey, who previously served as Chairman. Mr. Dakey will continue
to serve as President and CEO of Mid Penn Bancorp, Inc. as well as
Chairman, President and CEO of Mid Penn Bank, a wholly-owned
subsidiary of Mid Penn Bancorp, Inc. Schlegel served as
Superintendent of the Millersburg Area School District prior to his
retirement in 1998. Robert C. Grubic was elected to serve as
Vice-Chairman of the Board of Directors of Mid Penn Bancorp, Inc.
Mr. Grubic joined the Board in 2006. Mr. Grubic is President of
Herbert, Rowland & Grubic, Inc., a regional engineering firm
located in Harrisburg, Pennsylvania. In addition to Mr. Schlegel
and Mr. Grubic, the following officers were elected: Alan W. Dakey,
President and Chief Executive Officer; Kevin W. Laudenslager, Vice
President and Treasurer; and Cindy L. Wetzel, Secretary.
Appointments were also made to the following committees: Audit,
Executive, Nominating and Corporate Governance, and Compensation
Committees.
Mid Penn Bancorp (AMEX:MBP)
過去 株価チャート
から 5 2024 まで 6 2024
Mid Penn Bancorp (AMEX:MBP)
過去 株価チャート
から 6 2023 まで 6 2024
Real-Time news about Mid Penn Bancorp, (アメリカ証券取引所): 0 recent articles
その他のMid Penn Bancorp, Inc.ニュース記事