At the recent board meeting, Mr. Moses Krausz resigned his position as President/CEO as well as Chairman of the Board of Directors, effective January 31, 2024.  Mr. Krausz served as President/CEO of the Bank from 1992 to 2019 and returned in November 2021 to again take over the reins.  In addition to serving as a Board member since 1992, he also served as Chairman of the Board of Directors from May 2021 to December 2023.  Mr. Krausz will remain on as a member of the Board of Directors, Chairman of the Bank’s Loan Committee and serve on a consultant basis to the Bank.  The Board expressed their deep appreciation to Mr. Krausz for his leadership and commitment to the Bank’s growth and success.

The Board of Directors, by an affirmative vote, elected Philippe D Katz, who has served on the Board since March 31, 2002, as Chairman of the Board of Directors.  Mr. Katz is a Certified Public Accountant as well as an attorney-at-law.

Mr. Krausz nominated Allison Powell, Senior Executive Vice President and Chief Operations Officer, and the Board unanimously voted to elect her as President/CEO, effective January 31, 2024.  Ms. Powell has been employed with the Bank since 2004 and was promoted to the Chief Operations Officer role on March 26, 2009.  Ms. Powell has an M.B.A. in Finance and has over 30 years of experience in the financial institution field.  We are confident that she possesses both the knowledge and experience necessary for this role and we wish her success.