Porter Bancorp, Inc. Holds Annual Meeting
Shareholders Elect Seven Directors
LOUISVILLE, Ky.--(BUSINESS WIRE)-- Porter Bancorp, Inc. (PBIB), parent company of PBI Bank, announced today that shareholders elected seven directors, approved a non-binding advisory vote on the compensation of the companys executives, approved the increase of the authorized shares of common stock to 86,000,000 shares of voting common stock and to 34,380,437 million shares of non-voting common stock, and approved an amendment to the 2006 Non-employee Director Incentive Stock Plan at its annual meeting of shareholders. Stockholders also defeated the proposal submitted by a stockholder that the Chairman of the Board not be an employee of the company.
At the meeting, shareholders elected the following as directors to serve for a one-year term:
- Maria L. Bouvette Chairman of the Board, President and Chief Executive Officer of Porter Bancorp, Inc.
- David L. Hawkins CPA, farmer and private investor
- W. Glenn Hogan CEO of commercial real estate development firm
- Sidney L. Monroe Retired Certified Public Accountant
- Stephen A. Williams President and Chief Executive Officer of Norton Healthcare
- W. Kirk Wycoff Managing Member of Patriot Financial Partners, L.P.
- William G. Porter Retired manufacturing executive
About Porter Bancorp, Inc.
Porter Bancorp, Inc., a bank holding company headquartered in Louisville, Kentucky, had $1.4 billion in assets as of March 31, 2012. Through Porters subsidiary PBI Bank, it operates 18 full service banking offices in Kentucky. Porter Bancorps common stock is traded on the Nasdaq Global Market under the symbol PBIB.
Statements in this press release relating to Porter Bancorps plans, objectives, expectations or future performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words believe, may, should, anticipate, estimate, expect, intend, objective, seek, plan, strive or similar words, or negatives of these words, identify forward-looking statements. These forward-looking statements are based on managements current expectations. Porter Bancorps actual results in future periods may differ materially from those currently expected due to various risks and uncertainties, including those discussed under Risk Factors in the Companys Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission. The forward-looking statements in this press release are made as of the date of the release and Porter Bancorp does not assume any responsibility to update these statements.
Porter Bancorp, Inc.
Maria L. Bouvette, 502-499-4800
President and CEO
Source: Porter Bancorp, Inc.Copyright Business Wire 2012