Consumers Bancorp, Inc. and Consumers National Bank Announces Executive Changes, Effective January 1, 2024
October 24, 2023 at 01:20 pm
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On October 18, 2023, Laurie L. McClellan announced she has decided to retire as the Chairperson of the Board of Directors of Consumers Bancorp, Inc. and Consumers National Bank effective January 1, 2024. Ms. McClellan will remain a member of the Board of Directors of the Company and Consumers National Bank. Ms. McClellan has been a member of the Boards since 1987 and Chairperson of the Boards since 1998 and her decision to retire as Chairperson did not result from any disagreement relating to the Company?s operations, policies or practices.
On October 18, 2023, the Board of Directors of Company approved the appointment of Frank L. Paden as Chairman and Richard T. Kiko, Jr. as Vice Chairman of the Board of Directors of the Company and Consumers National Bank effective January 1, 2024. Mr. Paden has been a member of the Boards since 2013 and Mr. Kiko has been a member of the Boards since 2015.
Consumers Bancorp, Inc. is a bank holding company for Consumers National Bank (the Bank). The Company is engaged in the business of commercial and retail banking. The Bankâs business involves attracting deposits from businesses and individual customers and using such deposits to originate commercial, mortgage and consumer loans in its primary market area. The Bank also invests in securities consisting primarily of United States government-sponsored entities, municipal obligations, mortgage-backed and collateralized mortgage obligations issued by Fannie Mae, Freddie Mac and Ginnie Mae. Its deposit products include business and personal savings accounts, negotiable order of withdrawal accounts, time deposits and demand accounts, as well as certificates of deposit. The Bankâs primary market area includes Carroll, Columbiana, Jefferson, Mahoning, Stark, Summit, Wayne, and contiguous counties in Ohio, Pennsylvania, and West Virginia. The Bank operates online and 21 branch locations.