Traditions Bancorp Inc (OTCMKTS:TRBK) and the wholly-owned subsidiary, Traditions Bank, having administrative headquarters in York Township, Pennsylvania on September 7, 2022, announced that Michael E. Kochenour will retire as Chairman of the Board of Directors from the April 2023 board meeting.
Trading Data
On Wednesday, TRBK stock moved down 3.85% to $0.0025 with more than 6.72 million shares, compared to its average volume of 17.14 million shares. The stock moved within a range of $0.0025 – 0.0026 after opening trade at $0.0026.
Traditions Bancorp And Traditions Bank Announce Executive Succession
Founder of the bank and having served as the original President and CEO, Kochenour retired as a bank associate in 2016. He aims to carry on serving as a director even as he stands for re-election next year.
The current President and CEO, Eugene J. Draganosky will be succeeding Kochenour as Chairman. Draganosky joined the bank and the executive team in 2008, becoming a Director in April 2015. He was later appointed in January 2017 as the CEO.
Kochenour said that Gene’s deep experience and passion for the Central PA market make him an ideal incoming Chair. As per him, Gene is a champion of the culture and core values besides being a strategic leader.
Draganosky said that Mike Kochenour has reached a 50-year milestone as a banker. He added that Mike had a profound impact and is grateful for the mentorship, partnership as well as wisdom.
Elizabeth F. Carson will become Traditions’ Lead Independent Director. Carson will be serving as the principal liaison between the Chair and the other independent Directors.
Key Quote
“Gene’s deep experience, industry knowledge, and passion for the Central PA market make him the ideal incoming Chair,” stated Kochenour. “He is a champion of our culture and core values, a strategic leader, steadfastly committed to corporate governance, and is fully prepared to assume this new responsibility.”
