Westbury Bancorp, Inc. and Westbury Bank Inc. Announce Board Changes
April 21, 2017 at 10:04 pm
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Westbury Bancorp, Inc. announced that on April 20, 2017, the Board of Directors of the Company accepted the resignation of Raymond Lipman from his position as director and as the Chairman of the Board of Directors of the Company. In connection with the resignation, Mr. Lipman will no longer be a director or Executive Chairman of Westbury Bank. Both Mr. Lipman and Greg Remus, the current President and CEO of the Company and Bank, entered into employment agreements with the Company and the Bank in 2015 with the goal of effecting an orderly transition in management from Mr. Lipman to Mr. Remus. The transition has progressed efficiently, and the Board of Directors of the Company and Bank, including Mr. Lipman and Mr. Remus, believe the completion of the transition to be in the best interests of the Company and Bank. Accordingly, in connection with Mr. Lipman's resignation from the
Company's Board, the Board has appointed Mr. Remus as Chairman of the Board of the Company and the Bank following Mr. Lipman's resignation.
Westbury Bancorp, Inc. is the holding company for Westbury Bank (the Bank). The Bank is an independent community bank serving communities in Washington and Waukesha Counties through its eight banking offices providing deposit and loan services to individuals, professionals, and businesses throughout its markets. The Bank provides checking, savings, certificates of deposit, consumer loans, credit cards, individual retirement accounts, and others. The Bankâs services include online banking, mobile banking, bill pay, Pop Money, order checks, and e-statements, among others. The Bankâs business services include business checking and treasury management. The Bankâs commercial loans category includes commercial real estate, lines of credit, equipment, construction, working capital, acquisitions, letters of credit, and SBAs. The Bank offers an array of home loan options, including purchase, refinance, construction, Federal VA, WHEDA, and home equity loans and lines of credit.
WESTBURY BANCORP, INC. 