1st Summit Bancorp of Johnstown, Inc. Announces Resignation of President and Chief Executive Officer and Appointment of New President and Chief Executive Officer

JOHNSTOWN, Pa.--(BUSINESS WIRE)-- 1^st Summit Bancorp of Johnstown, Inc. (OTC Pink: FSMK), the parent company for 1^st Summit Bank (the “Bank”), announced today that Eric Renner has submitted his voluntary resignation due to personal reasons as President and Chief Executive Officer and Director of the Company and the Bank, effective March 28, 2025. Mr. Renner has served in these positions at the Bank since June 2020 and of the Company since January 2023.

In making the announcement, Rex W. McQuaide, Esq., Chairman of the Board, said, “We appreciate Eric’s dedication and hard work on behalf of the Company and the Bank over the past six years. We wish Eric nothing but the best in his future endeavors.”

“I am proud to have been the leader of 1^st Summit Bancorp of Johnstown and 1^st Summit Bank. I wish the Company and its employees the best as I pursue new opportunities,” said Mr. Renner. “I am pleased that Allison Johson will be taking over the leadership of 1^st Summit.”

Simultaneously, the Company also announced the appointment of Allison Johnson, the current EVP & Chief Financial Officer & Chief Risk Officer of the Company and the Bank, to succeed Mr. Renner as President and Chief Executive Officer of the Company and the Bank effective March 28, 2025. Ms. Johnson will also continue to serve as the Chief Financial Officer and Chief Risk Officer of the Company and the Bank. Ms. Johnson has over seventeen years of banking experience and has experience in a leadership role leading banks through restructurings, enhanced process development, initial public offerings, and mergers and acquisitions. Ms. Johnson has served as the Chief Financial Officer of 1st Summit Bancorp of Johnstown for the past year. She formerly held the same position at Mid Penn Bancorp in Harrisburg and Spirt of Texas Bancorp in Houston.

“We are lucky to have someone as strong and capable as Ms. Johnson to step up and lead this organization. Ms. Johnson has the full support of the Board to continue to lead the organization and meet the challenges of the current market,” said Mr. McQuaide.

“I appreciate the Board’s trust in me and embrace the opportunity to lead 1^st Summit,” Ms. Johnson said. “Despite the economic headwinds facing the banking industry, I believe there are immense opportunities for growth and that there is a bright future for the Bank. I look forward to leading 1^st Summit.”

The Company also announced today that John W. McCall has resigned from his role as Chairman of the Board of the Company and the Bank. Mr. McCall will continue to serve as a board member of both the Company and the Bank. The Boards of Directors of the Company and the Bank appointed Rex W. McQuaide, Esq., a current board member of each entity, to assume the role of Chairman of the Board of the Company and the Bank.

About 1^st Summit Bancorp, Inc.

1^st Summit Bancorp of Johnstown, Inc. is the bank holding company for 1^st Summit Bank. The Bank provides banking products and services to customers through 17 community offices in Cambria, Somerset, Indiana, Blair, and Westmoreland counties in Pennsylvania. For more information, please see our most recent Annual Report on our website at https://www.1stsummit.bank/home/who-we-are/meet-1st-summit/investor-info/

Forward-Looking Statements

This press release contains forward-looking statements about the Company and the Bank. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which the Company and the Bank are engaged.

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Allison Johnson

CEO & President

888-262-4010

Source: 1st Summit Bancorp of Johnstown, Inc.

FAQ

When will Allison Johnson take over as CEO of FSMK?

Allison Johnson will assume the role of President and CEO of FSMK effective March 28, 2025.

How long did Eric Renner serve as CEO of 1st Summit Bank (FSMK)?

Eric Renner served as Bank CEO since June 2020 and Company CEO since January 2023.

What is Allison Johnson's experience before joining FSMK?

Johnson has 17+ years of banking experience, previously serving as CFO at Mid Penn Bancorp and Spirit of Texas Bancorp.

How many branches does 1st Summit Bank (FSMK) operate?

1st Summit Bank operates 17 community offices across Cambria, Somerset, Indiana, Blair, and Westmoreland counties in Pennsylvania.

What leadership changes were announced at FSMK?

Eric Renner resigned as CEO, Allison Johnson appointed as new CEO, and Rex W. McQuaide replaced John W. McCall as Chairman.