CertusBank Names John S. Poelker Chairman of Board of Directors

GREENVILLE, SC, S.C., Aug. 13, 2014 (GLOBE NEWSWIRE) -- CertusBank, the banking subsidiary of CertusHoldings, Inc. has named John S. Poelker Chairman of the Board of Directors as well as President and Chief Executive Officer, marking the completion of a key transition period. Poelker joined CertusBank as Interim President and Chief Executive Officer in April 2014.

"The transition in the management of our company over the last few months has gone very smoothly, and our Board and our teammates have greatly appreciated John's leadership and guidance throughout the process," said Douglas W. Johnson, chairman of a committee of independent directors. "His appointment as the leader of CertusBank marks an important point in our company's path forward. We are making steady progress in addressing CertusBank's structural and financial challenges, and are delighted to formalize and expand John's role."

The company also announced that, at its annual meeting held Aug. 6 in New York City, the shareholders of CertusHoldings, Inc. reelected its five current directors and elected six new directors with deep financial knowledge, extensive industry experience and strong managerial backgrounds.

The new directors are:

  • Bruce L. Campbell – Principal of ALCO Partners, LLC, a financial risk advisory firm focused on bank risk management.
  • Howard S. Hoffmann – Managing Partner of De Novo Perspectives, LLC, a firm specializing in financial and operational performance improvement.
  • Andrew R. Jones – Founder of North Star Partners, an alternative investment company dedicated to value investing focused on the small-cap sector of the U.S. equity markets. North Star is an investor in CertusHoldings, Inc.
  • Nooruddin (Rudy) S. Karsan - General Manager of IBM Kenexa Smarter Workforce. Mr. Karsan co-founded Kenexa, a provider of proprietary tools for employee recruitment and retention, in 1987.
  • Bradford B. Kopp – Financial services industry advisor with extensive banking industry experience with RBS America, Citizens Financial Group, Lehman Brothers and Bank of N.T. Butterfield & Son (Bermuda).
  • L. Spencer Wells – Partner at Drivetrain, LLC, a provider of investment focused fiduciary expertise with an extensive background in investment management and finance.

The newly elected directors will serve as members of the Boards of both CertusHoldings, Inc. and CertusBank, and appointments to the board are subject to non-objection by the Federal Reserve for the holding company and the Office of the Controller of the Currency (OCC) for the bank. The directors will be allowed to serve as non-voting advisory directors of the bank once their applications have been accepted by the OCC.

"The talent and experience these leaders bring to the table will be a great help to our management team and current directors as we continue the work of restoring shareholder value by every means possible," said Poelker. "I look forward to working with them."

About CertusBank

CertusBank is a full-service, nationally chartered bank with operations in 12 states including Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, North Carolina, Ohio, South Carolina, Tennessee, Texas and Virginia. Headquartered in Greenville, S.C., the company has more than 30 branches in the Carolinas, Florida and Georgia and offers a full range of Consumer, Commercial, SBA Lending, Treasury Management and financial planning solutions. CertusBank's Small Business Finance division ranks 16th in the country for SBA 7a lending volume (as of June 30, 2014). Visit CertusBank.com to learn more.

CONTACT: Emily Ledbetter Communications Manager 864.315.4963 EmilyLedbetter@CertusBank.com

Source: CertusBank