TRADITIONS BANCORP AND TRADITIONS BANK ANNOUNCE RETIREMENT OF CHARTER BOARD MEMBER, WILLIAM J. SHORB

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Mar 07, 2024, 17:15 ET

YORK, Pa., March 7, 2024 /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 William J. Shorb from its Board of Directors effective at its April 16, 2024 annual meeting.

William "Bill" Shorb is one of the organization's six independent founding board directors. His 22-year tenure includes 20 years as chair of the loan committee from 2002 until 2022, when he pivoted to become the first board representative to the enterprise risk management committee. Shorb is a passionate entrepreneur with decades of executive leadership roles in successful family business ventures. He served as President and CFO of REH Holdings, Inc. and is currently CFO of Holla Spirits LLC.

"Serving on the Traditions Board has been a highlight of my business career," remarked Shorb. "I am immensely proud to have helped create an organization so unique and special, alongside a team of committed friends and colleagues. My dedication to the success of Traditions Bank remains steadfast, and I am grateful for the opportunity to have been part of its remarkable journey."

Reflecting on Shorb's departure, Traditions Bank Founder and Director Michael Kochenour expressed his gratitude, saying, "Bill Shorb embodies the essence of family values in his leadership. His unwavering commitment to fostering relationships and building trust has been instrumental in shaping the culture and core values of Traditions Bank."

Chair of the Board and CEO Eugene Draganosky lauded Shorb's invaluable contributions, stating, "Bill's keen analytical acumen and astute business skills have left an indelible mark on our organization. His leadership and guidance have been instrumental in our growth and success. We extend our heartfelt appreciation and wish him the very best."

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. A second Lancaster County branch is slated to open on State Road in April. With assets of $840 million as of December 31, 2023, 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.

SOURCE Traditions Bancorp, Inc.