Porter Bancorp, Inc. Holds Annual Meeting of Shareholders
Shareholders Elect Seven Directors
LOUISVILLE, Ky. -- May 28, 2014
Porter Bancorp, Inc. (NASDAQ: PBIB), parent company of PBI Bank, announced
today that its shareholders elected seven directors, approved a non-binding
advisory vote on the compensation of the company’s executives, approved
anamendment to the 2006 Non-employee Director Incentive Stock Plan, and
approved an amendment to the 2006 Stock Incentive Plan at its annual meeting
In comments made at the meeting, John T. Taylor, President and CEO of Porter
Bancorp, Inc., stated, “On behalf of Porter Bancorp and PBI Bank, we
acknowledge outgoing board members David L. Hawkins, Sidney L. Monroe, Jr. and
Stephen A. Williams today and offer our sincere gratitude for the time and
effort they’ve dedicated to our board as we’ve worked to move the bank
“We also want to recognize three new additions to the board and officially
welcome Marc Satterthwaite, Mark Wheeler and Mike Levy to our solid team of
directors,” continued Taylor. “I personally am very excited about the
experience and expertise they bring to the table as we seek out growth
opportunities and provide outstanding service to our customers.”
At the meeting, shareholders elected the following as directors to serve for a
*W. Glenn Hogan – Chairman of Porter Bancorp, Inc. and CEO of a commercial
real estate development firm
*Michael T. Levy – Vice President of Brown & Brown, a Lexington-based
insurance brokerage firm
*William G. Porter – Retired CPA and manufacturing executive
*N. Marc Satterthwaite – Vice President, Director of Sales Operations,
North America, for Brown-Forman Corporation, a diversified producer of
fine quality consumer products
*John T. Taylor – President and CEO of Porter Bancorp, Inc., and President
and CEO of PBI Bank, Inc.
*Mark F. Wheeler – Chief Financial Officer of PT Development, a
Louisville-based management firm that specializes in providing management
and other operational efficiencies to privately held physical therapy
*W. Kirk Wycoff – Managing Member of Patriot Financial Partners, L.P., a
private equity fund focused on investing in community banks, thrifts and
other financial service related companies
About Porter Bancorp, Inc.
Porter Bancorp, Inc., a bank holding company headquartered in Louisville,
Kentucky, had $1.1billion in assets asof March 31, 2014. Through Porter’s
subsidiary PBI Bank, it operates 18 full-service banking offices in Kentucky.
Porter Bancorp’s common stock is traded on the Nasdaq Global Market under the
Statements in this press release relating to Porter Bancorp’s 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 management’s current expectations. Porter Bancorp’s
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 Company’s 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.
John T. Taylor, 502-499-4800
Chief Executive Officer
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