OXFORD BANK CORPORATION ANNOUNCES THE APPOINTMENT OF MICHAEL TIERNEY TO THE OXFORD BANK BOARD OF DIRECTORS

OXFORD, Mich., Sept. 25, 2024 /PRNewswire/ -- Oxford Bank Corporation ("the Company") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank ("the Bank"), today announced the appointment of industry veteran Michael J. Tierney to the Oxford Bank Board of Directors, effective immediately.

About Michael Tierney
Tierney's career has included executive roles at various size banks throughout the region ranging from community banks to large regional institutions. Early in his career he held numerous senior roles at Comerica Bank including Senior Vice President, Personal Financial Services overseeing more than 250 depository branch locations and the consumer lending, mortgage, and electronic banking lines of business nationally. He also ran the Midwest Region for Chase Bank's Business Banking unit as the SVP, Managing Director Business Banking. He then transitioned to Peoples State Bank (Michigan) where, as President and CEO for four years before he helped co-found Blue Water Bank which raised $240 million to purchase financial institutions during the recession in 2010. In 2011, Tierney took over as the Midwest Market President for Commercial and Retail Banking at Flagstar Bank then becoming the President and CEO of the bank where he led the company through the aftermath of the Great Recession repositioning the company business model and balance sheet to achieve sustained profitability. Most recently he has served as the President and CEO of the Community Bankers of Michigan, the Lansing based trade organization dedicated to advancing Michigan based community banks through advocacy, education and a wide range of services including partner organizations to further our industry's role as a key economic engine for businesses and communities across the Great Lakes state.

Lead Independent Director Karen Mersino commented "The Board and Management has a deep commitment to improvement at every level of the organization. I believe this appointment will positively add to the Board's overall perspective and further enhance the strategic direction of the collective Company. The Board is looking forward to this relationship with a highly respected and extremely experienced Michigan banker."

Chairman, CEO and President David Lamb noted "The Bank's Board of Directors with unanimous support of the Company's Board of Directors, made this appointment to recognize the value that Mike can bring to our deliberations on a range of issues as our organization becomes larger and more complex. His experience in all facets of banking from retail and business banking to regulatory and advocacy will add even more industry knowledge to our boardroom." Lamb added "I serve on the Community Bankers of Michigan board with Mike, so I have seen first-hand why he has been such a highly regarded leader during his career and in our industry, both in our state and nationally. We look forward to welcoming him to our team at the Bank."

Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. The Bank also has a Customer Experience Centers in Rochester Hills, MI and Macomb, MI with transactional services provided by Interactive Teller Machines only. In addition, Oxford Bank has business banking centers in Wixom, downtown Oxford, Ann Arbor and Flint, MI. 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.

SOURCE Oxford Bank Corporation