Oxford Bank Corp. (OXBC)

[norweger1979]

OXFORD BANK CORPORATION ANNOUNCES APPOINTMENT OF NEW PRESIDENT AND CEO


http://www.oxfordbank.com/ABOUTUS-pressreleases.cfm

Oxford Bank Corporation (the “Company”) and its wholly-owned subsidiary Oxford Bank (“Oxford Bank”) announced today that they have retained David P. Lamb, age 52, as President and CEO of the Company and the Bank. Mr. Lamb has extensive experience, over a 30 year career, in the banking industry. Most recently, since 2008 Mr. Lamb has been President and CEO of Hantz Holdings, Inc. and Hantz Bank, Southfield, Michigan. Prior to joining Hantz Bank in 2008 Mr. Lamb was a Senior Vice President of Fifth Third Bank.
Oxford Bank’s Board Chair Karen Mersino said, “After a rigorous search the board selected Dave as the best candidate to lead the Bank in its next chapter of continuing improvement and return to normal profitability and growth.” Ms. Mersino also stated, “Our President and CEO Jim Bess has led the Bank extremely capably since becoming President and CEO during 2009 at the height of the financial and banking crisis. We have been fortunate to have a leader of Jim’s experience and caliber during some of our most challenging years at the Bank. The Board extends its heartfelt thanks to Jim on behalf of all of the shareholders, employees and Oxford community for his steadfast leadership and guidance in bringing the Bank to its current substantially improved financial health and profitability.”

“I am truly invigorated by the opportunity at Oxford Bank to serve the community by helping our clients reach their goals. With our continued improved financial strength, I believe that Oxford Bank will be the best choice for families and businesses.” said Lamb. He added, “As the oldest bank in Oakland County, Oxford Bank has an enviable history as the place people turned to for financial services help and we look forward to earning that relationship again. Our daily goal will be to deliver a high value relationship for our customers and communities that is better than any alternative.” Mr. Lamb is expected to start with Oxford Bank on May 1, 2015.

Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates eight full-service offices in Clarkston, Davison, Dryden, Goodrich, Lake Orion, Oakland Township, Ortonville and Oxford. It also manages a consumer and commercial lending center in downtown Oxford. The Bank has operated continuously under local ownership and management since it first opened for business in 1884. For more information about Oxford Bank and its complete line of financial services, please visit www.oxfordbank.com.

Except for the historical information contained herein, the matters discussed in the Release may be deemed forward-looking statements that involve risk and uncertainties. Words or phrases "will likely result", "are expected to", "will continue", "is anticipated", "estimate", "project", or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Factors which could cause actual results to differ, include, but are not limited to, fluctuations in interest rates, changes in economic conditions of the Bank's market area, changes in policies by regulatory agencies, the acceptance of new products, the impact of competitive products and pricing and the other risks detailed from time to time in the Bank's and Corporation’s reports. These forward-looking statements represent the Bank's judgment as of the date of this report. The Bank disclaims, however, any intent or obligation to update these forward-looking statements.