Brunswick Bancorp Shareholders Re-Elect James Atieh and Nicholas A. Frungillo, Jr. to Board of Directors at 2021 Annual Meeting

Rhea-AI Summary

Brunswick Bancorp (OTC: BRBW) announced the re-election of James Atieh and Nicholas A. Frungillo, Jr. to its Board of Directors during the 2021 Annual Meeting of Shareholders held on April 27, 2021. Preliminary voting results indicated that Mr. Atieh received approximately 68% approval, while Mr. Frungillo garnered about 98%. Chairman Frank Gumina expressed gratitude to shareholders for their support, while Mr. Frungillo reaffirmed the Company's commitment to enhancing overall performance and shareholder value.

Positive

• Re-election of directors may enhance board stability.
• Mr. Frungillo's strong approval suggests shareholder confidence in leadership.

Negative

• Mr. Atieh faced opposition from a dissident nominee.

Brunswick Bancorp (“Brunswick” or the “Company”) (OTC: BRBW), the holding company for Brunswick Bank and Trust (“the Bank”), yesterday announced that at its 2021 Annual Meeting of Shareholders (the “2021 Annual Meeting”) held on Tuesday April 27, 2021, and based on the preliminary vote count provided by the independent inspector of elections, shareholders voted to re-elect James Atieh and Nicholas A. Frungillo, Jr. to serve on the Company’s Board of Directors for a term of three years.

Frank Gumina, Jr., Chairman of Brunswick, said: “We are pleased that shareholders have re-elected James and Nick to the Board. On behalf of my fellow directors, I would like to thank our shareholders for their support at this year’s Annual Meeting.”

Mr. Frungillo, President and Chief Executive Officer of the Company and the Bank, said: “Brunswick is committed to executing on the Company’s strategy to drive top- and bottom-line performance and deliver value for all shareholders.”

Based on the preliminary results provided by the inspector of elections, the re-election of Mr. Atieh, whose election was opposed by the dissident nominee, was approved by approximately 68% of the votes cast, and Mr. Frungillo was approved by approximately 98% of the votes cast at the 2021 Annual Meeting. Brunswick will announce final tabulations of the voting results after they are certified by the Company’s independent inspector of elections.

About Brunswick Bancorp

Brunswick Bancorp is the holding company for Brunswick Bank & Trust, a New Jersey chartered commercial bank which serves central New Jersey through its New Brunswick main office and four additional branch offices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210428005947/en/

FAQ

What were the voting results for the re-election of directors at Brunswick Bancorp's Annual Meeting?

James Atieh received approximately 68% approval, while Nicholas A. Frungillo, Jr. was approved by about 98% of votes cast.

Who were re-elected to the Board of Directors of Brunswick Bancorp?

James Atieh and Nicholas A. Frungillo, Jr. were re-elected for a term of three years.

What date was the 2021 Annual Meeting of Brunswick Bancorp held?

The 2021 Annual Meeting of Brunswick Bancorp was held on April 27, 2021.

What is the significance of the re-election of directors for Brunswick Bancorp shareholders?

The re-election of directors is usually a sign of stability and continuity in leadership, which can positively impact shareholder confidence.

Who is the current President and CEO of Brunswick Bancorp?

Nicholas A. Frungillo, Jr. is the current President and Chief Executive Officer.