Community Heritage Financial, Inc. Welcomes Frankie Corsi, III to Its Board of Directors

Rhea-AI Summary

Community Heritage Financial, Inc. (OTCPK: CMHF) announced the appointment of Frankie Corsi, III, to its Board of Directors on April 15, 2022. Corsi, currently the president of Beachley Furniture Company, brings extensive experience, including a background as CFO at Ridgecrest Investments and a licensed CPA since 1997. Board Chairman James G. Pierne expressed confidence in Corsi's business acumen, while CEO Robert E. (BJ) Goetz, Jr. noted Corsi's leadership experience and financial expertise as valuable for the Company.

Positive

• Appointment of Frankie Corsi, III, expected to enhance board expertise.
• Corsi's leadership experience may provide fresh perspectives for growth.

Negative

• Concerns about potential gaps in board continuity with new member.
• Uncertainties regarding integration of Corsi's experience into the existing board dynamic.

MIDDLETOWN, Md., April 15, 2022 /PRNewswire/ -- Community Heritage Financial, Inc. (the "Company") (OTCPK: CMHF), the holding company for Middletown Valley Bank (the "Bank") announced the appointment of Frankie Corsi, III to the Company and the Bank's Board of Directors.

Mr. Corsi is the president of Beachley Furniture Company, a furniture and millwork company in Hagerstown, Maryland. Previously, he was the Chief Financial Officer of Ridgecrest Investments, a Frederick, Maryland based private investment firm. Mr. Corsi is a graduate of Mount St. Mary's University and became a licensed CPA in 1997 while employed at Linton Shafer Warfield & Garrett, P.A., a tax, accounting, and business consulting firm with offices in Frederick and Rockville, Maryland. 

"We are very pleased to welcome Frankie to our Boards," said James G. Pierne, Chairman of the Board for both entities. "He is well-respected in the business community, and his financial and business expertise will be a tremendous asset to the Company."

Mr. Corsi also serves on the Executive Board of St. Mary's Catholic Church as a Corporator.

President and Chief Executive Officer Robert E. (BJ) Goetz, Jr. commented, "Frankie's experience leading a nationally established organization, in addition to his time spent in accounting and investment banking, brings added knowledge and diversity to our board room. He will be a great resource for the Company."

Community Heritage Financial, Inc. is the parent company of Middletown Valley Bank and its subsidiary, Millennium Financial Group, Inc (Mlend). Middletown Valley Bank is a full-service commercial and retail bank with locations in the Maryland counties of Frederick, Garrett, and Washington, and in Franklin County, Pennsylvania. For more information, visit https://www.mvbbank.com/.

Mlend is a full-service mortgage lender with offices in Middletown, Crofton, and Oakland, Maryland. For more information visit https://www.mlend.com/.

Investor Relations Contact:

Community Heritage Financial, Inc.
Robert E. (BJ) Goetz, Jr.
President & Chief Executive Officer
301-371-3055
www.communityheritageinc.com

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SOURCE Community Heritage Financial, Inc.

FAQ

Who is Frankie Corsi, III in relation to CMHF?

Frankie Corsi, III, is the newly appointed member of the Board of Directors for Community Heritage Financial, Inc. (CMHF) as of April 15, 2022.

What experience does Frankie Corsi bring to CMHF?

Corsi has experience as the president of Beachley Furniture Company and was previously CFO of Ridgecrest Investments, along with being a licensed CPA since 1997.

What potential benefits does Corsi's appointment have for Community Heritage Financial?

Corsi's appointment is expected to enhance the board's expertise and bring fresh perspectives to the company.

Are there any concerns regarding Corsi's appointment to the board?

There are concerns regarding possible gaps in board continuity and how effectively Corsi's experience will integrate with the existing board.