Jefferson Security Bank Announces the Election of Two New Board Members, Archibald R. Hoxton IV, CFP and Kelvin L. Upson

Rhea-AI Summary

Jefferson Security Bank (OTC Pink: JFWV) announced the election of new independent directors, Archibald R. Hoxton IV and Kelvin L. Upson. Hoxton brings 30 years of financial planning experience and previously worked with Goldman Sachs PFM. Upson, a Senior Cybersecurity Professional, has extensive military and engineering expertise. The Chair of the Board expressed confidence that their diverse skills will enhance strategic guidance and shareholder value, reinforcing the bank's commitment to strong performance amidst evolving market conditions.

Positive

• Addition of experienced directors Hoxton and Upson expected to enhance strategic guidance.
• Robust backgrounds of new board members could strengthen governance and decision-making.

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• None.

SHEPHERDSTOWN, W. Va.--(BUSINESS WIRE)-- Jefferson Security Bank (OTC Pink: JFWV) is pleased to announce the election of new independent directors Archibald R. (Rob) Hoxton IV, CFP and Kelvin L. Upson. The Board of Directors regularly evaluates its composition to ensure it includes the appropriate skills, experience and perspective necessary to position for the future.

“We are pleased to welcome Rob and Kelvin to the Board of Directors. Their extensive knowledge and expertise will be a significant asset to the Board, and we look forward to working with them to provide collective strategic guidance in support of the Bank’s mission,” said Frederick Parsons, Chair of the Board of Directors. “They join us at an exciting time with a Board and management team committed to achieving outstanding performance and building shareholder value.”

Mr. Hoxton joins the Board with 30 years of experience in financial planning which includes more than 20 years as a Certified Financial Planner (CFP). Mr. Hoxton is currently the managing member of Hoxton Planning & Management LLC, a Shepherdstown based investment advisory firm. Previously, he served as Vice President, Head of Office in Shepherdstown for Goldman Sachs PFM from April 2016 through March 2022. In 2020, Mr. Hoxton co-founded the Center for Financial Education at Shepherd University.

Mr. Hoxton graduated from North Carolina State University with a Bachelor of Arts in English and earned the designation of Certified Financial Planner from the College for Financial Planning. Mr. Hoxton lives in Shepherdstown, WV with his wife Mary-Logan and dog Muffin.

Mr. Upson is a Senior Cybersecurity Professional and Engineer and a Combat Veteran with 24 years of senior military leadership and management. He is an industry Certified Information Security Manager with over six years of systems engineering and cybersecurity expertise as a Senior Defense Contractor with the Department of Defense. In his current role, Mr. Upson is the Cyber Supply Chain Risk Management Engineering Lead for Vertex Company and has held a senior cyber engineering role at Raytheon since 2016. His extensive experience also includes 20 years as a Certified Advanced Instructor with University of Phoenix, where he has taught courses in the areas of operating systems, networking, network defense and cybersecurity.

Mr. Upson earned a Bachelor of Science degree in Computer Science from the United States Naval Academy, a Master of Science in Systems Engineering from the Naval Postgraduate School and is a Certified Information Security Manager (CISM). Mr. Upson lives in Charles Town, WV with his wife Jill, son DJ, dog Tiki, cat Bigly and snake Zeus.

About Jefferson Security Bank

Jefferson Security Bank is an independent community bank evolving with the needs of the customers and the communities it serves. Serving individuals, businesses and community organizations, Jefferson Security Bank strives to support entrepreneurial efforts within its target markets. Delivering long-term value to its shareholders is at the core of the organization’s culture. Jefferson Security Bank is a West Virginia state-chartered bank that was formed and opened for business on May 19, 1869, making it the oldest bank in Jefferson County, West Virginia. The bank provides general banking services in Berkeley County and Jefferson County, West Virginia, and Washington County, Maryland. Visit www.JSB.bank for more information

This press release may contain forward-looking statements, as defined by federal securities laws, which may involve significant risks and uncertainties. The statements are based on estimates and assumptions made by management in conjunction with other factors deemed appropriate under the circumstances. Actual results could differ materially from current projections.

Offices:

105 East Washington Street, Shepherdstown, WV (304-876-9000)
7994 Martinsburg Pike, Shepherdstown, WV (304-876-2800)
873 East Washington Street, Suite 100, Charles Town, WV (304-725-9752)
277 Mineral Drive, Suite 1, Inwood, WV (304-229-6000)
1861 Edwin Miller Boulevard, Martinsburg, WV (304-264-0900)
103 West Main Street, Sharpsburg, MD (301-432-3900)

View source version on businesswire.com: https://www.businesswire.com/news/home/20220603005396/en/

Jenna Kesecker, CPA, Executive Vice President

and Chief Financial Officer

304-876-9016

Source: Jefferson Security Bank

FAQ

What does the election of new directors at Jefferson Security Bank (JFWV) signify?

The election of new directors signifies Jefferson Security Bank's commitment to improving governance and strategic guidance to enhance shareholder value.

Who are the newly appointed directors of Jefferson Security Bank (JFWV)?

The newly appointed directors are Archibald R. Hoxton IV, a financial planning expert, and Kelvin L. Upson, a cybersecurity professional with military leadership experience.

What experience does Archibald R. Hoxton IV bring to Jefferson Security Bank (JFWV)?

Archibald R. Hoxton IV brings 30 years of financial planning experience, including positions at Goldman Sachs and founding the Center for Financial Education.

What is Kelvin L. Upson's professional background relevant to Jefferson Security Bank (JFWV)?

Kelvin L. Upson is a Senior Cybersecurity Professional with 24 years of military leadership and systems engineering expertise, currently working with Vertex Company.

How might the new board appointments impact Jefferson Security Bank (JFWV)?

The new appointments are expected to provide fresh perspectives and enhance the bank's strategic direction, potentially leading to improved performance.