Jeffersonville Bancorp and Jeff Bank Announce Resignation of Director Philip Coombe, III
Rhea-AI Summary
Jeffersonville Bancorp (OTCQB: JFBC) announced the resignation of Director Philip Coombe, III from the boards of Jeffersonville Bancorp and its subsidiary, Jeff Bank, effective immediately. Coombe, who joined the board in 2012, served on all Jeff Bank committees and was the standing Chairman of the Asset and Liability and Compliance Committees. He is stepping down due to expanding business and professional obligations.
George W. Kinne, Jr., President and CEO, expressed gratitude for Coombe's dedication and support over the past 12 years. Jeffersonville Bancorp is a one-bank holding company that owns all capital stock of Jeff Bank, which operates ten full-service branches in Sullivan and Orange County, New York.
Positive
- Director's 12-year tenure contributed to company growth
- Amicable departure maintains positive relationship with former director
Negative
- Loss of experienced board member
- Potential disruption in committee leadership
News Market Reaction – JFBC
In the trading session that priced this news, JFBC declined 5.83%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
JEFFERSONVILLE, N.Y., Oct. 08, 2024 (GLOBE NEWSWIRE) -- Jeffersonville Bancorp, Inc. (OTCQB - JFBC) today announced that Director Philip Coombe, III, has resigned from the board of directors of Jeffersonville Bancorp and its subsidiary, Jeff Bank, effective immediately.
Mr. Coombe became a director of Jeffersonville Bancorp in 2012 and has provided beneficial contributions throughout his time to help aid the growth of the Company and Jeff Bank. Mr. Coombe served on every committee of Jeff Bank and was standing Chairman of the Asset and Liability and Compliance Committees. Mr. Coombe is stepping down from the board due to his expanding business and professional obligations.
“I am grateful for the opportunity to serve on the board and contribute to the Company's vision and growth over the past 12 years,” stated Mr. Coombe. “It has been a pleasure being involved with the Company and its talented professionals. I am confident the board and management teams will be successful in growing the Company and continuing to deliver shareholder value.”
“On behalf of Jeffersonville Bancorp, Jeff Bank, and the Board of Directors, I want to thank Phil for his dedication and support over the last 12 years,” stated George W. Kinne, Jr., President and CEO. “It has been a privilege sitting beside Mr. Coombe during his time on the board. We wish him all the best in his future endeavors and know that he will continue to be a supporter of Jeff Bank.”
Jeffersonville Bancorp is a one-bank holding company, which owns all the capital stock of Jeff Bank. Jeff Bank maintains ten full-service branches in Sullivan and Orange County, New York located in Anawana Lake Road/Monticello, Eldred, Callicoon, Jeffersonville, Liberty, Livingston Manor, Monticello, Port Jervis, White Lake, and Wurtsboro.
For More Information, call: 845-482-4000
Contact: George W. Kinne, Jr., President – CEO
