Calvin B. Taylor Bankshares, Inc. (OTCQX: TYCB), Parent Company of Calvin B. Taylor Bank, Today Announced that Its Board of Directors has Elected Hale Harrison as Chair of the Board of Directors of the Company and the Bank

Rhea-AI Summary

Calvin B. Taylor Bankshares, Inc. (OTCQX: TYCB) has appointed Hale Harrison as Chair of its Board of Directors. With a long history on the board since 1995 and experience in community service, Harrison is poised to enhance the bank's governance. The bank continues its growth and aims to align with industry standards and shareholder expectations. Raymond M. Thompson, CEO, commended Harrison's understanding of community banking and respect among board members. The bank offers various banking services across 12 locations in the Delmarva Peninsula.

Positive

• Hale Harrison has significant experience on the Board since 1995.
• Harrison's leadership is expected to align the bank's governance with shareholder expectations.

Negative

• The announcement of a new chair may create concerns about continuity in leadership.

BERLIN, MD, Feb. 12, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Calvin B. Taylor Bankshares, Inc. (the “Company”) (OTCQX: TYCB), parent company of Calvin B. Taylor Bank (the “Bank”), today announced that its Board of Directors has elected Hale Harrison as Chair of the Board of Directors of the Company and the Bank.    

Mr. Harrison joined the Company’s Board of Directors in October 1995 and the Bank’s Board of Directors in 1975.  He owns and operates Harrison Group Resort Hotels in Ocean City, Maryland. Mr. Harrison is a former Councilman and Secretary for the Town of Ocean City, and former Chairman of the Ocean City Planning and Zoning Commission.  He is also a past Chairman and member of the Finance Committee of the Board of Trustees of Atlantic General Hospital.

In addition to serving as Chair of the Board of Directors of the Company and the Bank, Mr. Harrison is Chair of the Bank’s Executive Compensation Committee and a member of its Governance Committee. 

“As the Bank continues to grow, it is important that our Board composition and corporate governance initiatives align with the community banking industry and stockholder expectations.  Mr. Harrison understands the community banking business and is highly respected by his Board colleagues and our bank employees.  He is perfectly suited for this important leadership role,” said Raymond M. Thompson, President and Chief Executive Officer. 

About Calvin B. Taylor Banking Company

Calvin B. Taylor Banking Company, the bank subsidiary of Calvin B. Taylor Bankshares, Inc. (OTCQX: TYCB), founded in 1890, offers a wide range of loan, deposit, and ancillary banking services through both physical and digital delivery channels. The Company has 12 banking locations within the eastern coastal area of the Delmarva Peninsula including Worcester County, Maryland, Sussex County, Delaware and Accomack County, Virginia. 

Contact

Raymond M. Thompson, President and Chief Executive Officer
410-641-1700, taylorbank.com

FAQ

Who was appointed as the Chair of Calvin B. Taylor Bankshares on February 12, 2021?

Hale Harrison was appointed as the Chair of the Board of Directors.

What is Hale Harrison's background before becoming Chair of the Board for TYCB?

Hale Harrison has been on the Board since 1995 and has experience in community service and hotel management.

How many banking locations does Calvin B. Taylor Bank operate?

Calvin B. Taylor Bank operates 12 banking locations in the Delmarva Peninsula.

What are the expectations for Hale Harrison's leadership at Calvin B. Taylor Bank?

Hale Harrison's leadership is expected to enhance governance and align with community banking standards.