CONSUMERS BANCORP, INC. (OTCMKTS:CBKM) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders
On October 17, 2019, the following matters were voted upon by the shareholders of Consumers Bancorp, Inc. (Company) at its Annual Meeting of Shareholders:
1) Election of two directors, each to serve a three-year term expiring in 2022:
2) Proposal to adopt amendments to Consumers Bancorp, Inc’s Amended and Restated Articles of Incorporation to increase the number of authorized shares of common stock from 3,500,000 to 8,500,000 as disclosed in the Company’s Proxy Statement dated September 12, 2019:
4) Non-binding advisory resolution on whether the shareholder advisory votes on the compensation of the Company’s named executive officers will occur every 1, 2 or 3 years:
The Board of Directors has decided to include future shareholder advisory votes on the compensation of the Company’s named executive officers every 3 years.
About CONSUMERS BANCORP, INC. (OTCMKTS:CBKM)
Consumers Bancorp, Inc. is a bank holding company. The Company holds common stock of Consumers National Bank (Bank). The Company is engaged in the business of commercial and retail banking. The Bank’s business involves attracting deposits from businesses and individual customers and using such deposits to originate commercial, mortgage and consumer loans in its market area, consisting of Carroll, Columbiana, Stark, Summit, Wayne and contiguous counties in Ohio. As of June 30, 2016, the Bank had 12 branch locations and two loan production offices. Its business banking consists of checking, including business entree checking and business complete checking; business debit card; business savings; business services; loans and credit, and services for employers. Its personal banking services include checking, which consists of Brilliant High Yield Checking, Flash Checking, Bright Checking and Vivid Interest Checking; personal debit card, and savings and certificates of deposit (CDs).