TRADITIONS BANCORP AND TRADITIONS BANK ANNOUNCE RETIREMENT OF CHARTER BOARD MEMBER, JOHN D. BROWN

Rhea-AI Summary

Traditions Bancorp, Inc. (OTC Pink: TRBK) announced the retirement of John D. Brown from its Board of Directors, effective April 18, 2023. Brown, a founding member, served as chair of the compensation committee and has made significant contributions to the bank's strategic growth over two decades. His leadership has helped establish Traditions Bank as a leading community bank in central Pennsylvania, with assets totaling $777 million as of December 31, 2022. The company’s CEO, Eugene Draganosky, expressed gratitude for Brown's influence and dedication to the bank and community.

Positive

• John D. Brown's leadership has significantly contributed to the bank's growth and strategic direction.
• The bank's assets are reported at $777 million, indicating strong financial health.

Negative

• John D. Brown's departure may create a gap in experience and continuity on the Board.

YORK, Pa., March 7, 2023 /PRNewswire/ -- Traditions Bancorp, Inc. (OTC Pink: TRBK) and its wholly owned subsidiary, Traditions Bank, (collectively, "Traditions"), with administrative headquarters in York Township, Pennsylvania, has announced the retirement of John D. Brown from its Board of Directors effective at its April 18, 2023 annual meeting.

Brown is one of the institution's six original independent community Board Directors. He served as chair of the compensation committee from the bank's inception until June 2022. As founder and retired Board Director of Blockhouse, Inc, and retired Managing Director of Blockhouse Properties based in York, John Brown is also the namesake for York College's J.D. Brown Entrepreneurship Center, which serves to link the region's entrepreneurial community with the knowledge and resources of York College through their early-stage incubator, student engagement, and campus and community programs.

"John Brown is an innovator, investor, and true success story," noted Traditions Founder and Chairman Michael Kochenour. "We are fortunate that two decades ago, the idea of forming a true community bank spoke to him. John was excited about the prospect, and his vision for expansion coupled with his dedication to central Pennsylvania helped to fuel our plans of strategic organic growth."

"It has been personally satisfying to be a part of an organization so deeply committed to its Core Values," reflects Brown. "I believe that is why the bank has been so successful since day one, and why it will continue to grow for many years to come. I will remain a strong advocate, and I look forward to seeing what is next for Traditions Bank."

"We wish John Brown the very best and thank him for his wisdom, influence, and loyalty," stated CEO Eugene Draganosky. "John has made immense contributions to the organization and the community over the past twenty years, and we have all benefitted from his entrepreneurial talent."

About Traditions Bank
Formed in 2002 with administrative headquarters in York, Pennsylvania, Traditions Bank operates seven full-service branch offices located in York, Hanover, and Lancaster, as well as a loan production office in Lemoyne, Cumberland County. With assets of $777 million as of December 31, 2022, and 170 associates, Traditions Bank provides depository and borrowing services to businesses and individuals located in south-central Pennsylvania. The Bank is a leading provider of residential mortgages and has been a Bauer Financial recommended financial institution for more than a decade. To learn more about Traditions Bank, visit www.traditions.bank.

SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS:

This release contains forward-looking statements about Traditions Bancorp, Inc. that are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are not historical facts.  These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," "anticipate" or similar terminology.  Such forward-looking statements include, but are not limited to, discussions of strategy, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives, goals, expectations or consequences; and statements about future performance, operations, products and services of Traditions Bancorp.

Traditions Bancorp cautions readers not to place undue reliance on forward-looking statements and to consider possible events or factors that could cause results or performance to materially differ from those expressed in the forward-looking statements, including, but not limited to:  ineffectiveness of the organization's business strategy due to changes in current or future market conditions; the effects of competition, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products and services; interest rate movements; difficulties in integrating distinct business operations, including information technology difficulties; challenges in establishing and maintaining operations in new markets; volatilities in the securities markets; and deteriorating economic conditions.

Forward-looking statements in this release speak only as of the date of this release and Traditions Bancorp makes no commitment to review or update such statements to reflect changes that occur after the date the forward-looking statement was made.

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SOURCE Traditions Bancorp, Inc.

FAQ

What is the significance of John D. Brown's retirement from Traditions Bancorp?

John D. Brown, a founding Board member, played a crucial role in the company’s growth, and his retirement may impact the board's experience.

What are the details of John D. Brown's tenure at Traditions Bancorp?

Brown served as chair of the compensation committee since the bank's inception and has been influential in its strategic direction.

How might John D. Brown's retirement affect Traditions Bancorp's future?

While Brown's leadership was pivotal, his departure could lead to potential gaps in experience and continuity.

When did John D. Brown retire from Traditions Bancorp?

John D. Brown's retirement is effective April 18, 2023.

What are the financial highlights of Traditions Bancorp as of December 31, 2022?

Traditions Bancorp reported assets of $777 million as of December 31, 2022.