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.