Centric Bank Announces Resignation of CIO and Director of Operations

Rhea-AI Summary

Centric Financial Corporation (OTC: CFCX) announced the resignation of Clair Finkenbinder, Executive VP, CIO, and Director of Operations, effective April 1, 2022. His departure is due to a new opportunity outside the banking sector. Patricia A. Husic, President and CEO, expressed appreciation for Finkenbinder's contributions, particularly in technology enhancements and team development. A successor will be named in due course. Centric Bank, a community bank with assets of $983 million, has garnered several awards, including being recognized as one of the Best Banks to Work For by American Banker.

Positive

• Recognition for technology enhancements and team development under Clair Finkenbinder's leadership.
• Strong financial performance with assets of $983 million.
• Multiple awards including Best Banks to Work For and Top 200 Publicly Traded Community Banks.

Negative

• Leadership change could lead to continuity concerns during the transition period.

HARRISBURG, Pa., Feb. 24, 2022 /PRNewswire/ -- Centric Bank, ("the Bank") the banking subsidiary of Centric Financial Corporation (OTC: CFCX) ("Centric" or "the Company") announced today that Clair Finkenbinder, the Bank's Executive Vice President, CIO and Director of Operations, will resign from the Bank effective at the close of business on April 1, 2022. His decision to resign is related to an employment opportunity outside of the banking industry.

Patricia A. Husic, President and CEO of Centric Bank and Centric Financial Corporation stated, "On behalf of our Board of Directors and the management team, we are grateful for Clair's leadership with new technology implementations, security enhancements and overall strengthening of the technology infrastructure over the past four years at the Bank. Clair has developed a strong team that will allow for an easy transition to his successor."

The Company will make a subsequent announcement regarding a successor to his role.

ABOUT CENTRIC BANK

Founded in 2007, Centric Financial Corporation, and its subsidiary, Centric Bank, is headquartered in south central Pennsylvania with assets of $983 million and remains a leader in organic loan growth.  A locally owned, locally loaned community bank, Centric Bank provides competitive and pro-growth financial services to businesses, professionals, individuals, families, and the health care industry.  An American Banker 2021, 2020, 2019 and 2018 Best Banks to Work For, three-time Best Places to Work, Top 50 Fastest-Growing Companies for eight years, and three times ranked a Top 200 Publicly Traded Community Bank by American Banker for financial performance.    

Centric Bank has financial centers located in Harrisburg, Hershey, Mechanicsburg, Camp Hill, Doylestown, Devon, and Lancaster, loan production offices in Lancaster and Devon, and an Operations and Executive Office campus in Hampden Township, Cumberland County. To learn more about Centric Bank, call 717.657.7727, or visit CentricBank.com.  Connect with them on Twitter, Facebook, LinkedIn, and Instagram.

Centric Financial Corporation is traded over the counter (OTC-Pink) with the ticker symbol CFCX.

Contact: Patricia A. Husic
President & CEO
717.909.8309

 

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SOURCE Centric Financial Corporation

FAQ

What prompted Clair Finkenbinder's resignation from Centric Financial Corporation?

Clair Finkenbinder's resignation is related to an employment opportunity outside of the banking industry.

When will Clair Finkenbinder's resignation take effect?

Clair Finkenbinder's resignation will take effect at the close of business on April 1, 2022.

Who will succeed Clair Finkenbinder at Centric Financial Corporation?

Centric Financial Corporation will announce a successor to Clair Finkenbinder's role in due course.

What is the current asset size of Centric Financial Corporation?

Centric Financial Corporation currently has assets amounting to $983 million.