CORTLAND BANCORP (OTCMKTS:CLDB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02(e) Compensatory Arrangements of Certain Officers
About CORTLAND BANCORP (OTCMKTS:CLDB)
Cortland Bancorp is a bank holding company. The Company’s principal activity is to own, manage and supervise The Cortland Savings and Banking Company (Cortland Banks or the Bank). The Company operates through the commercial banking segment. The Bank is a state chartered bank engaged in commercial and retail banking. The Bank’s services include checking accounts, savings accounts, time deposit accounts, commercial, mortgage and installment loans, night depository, automated teller services, safe deposit boxes and other miscellaneous services. The Bank provides brokerage and investment services through an arrangement with Investment Professionals, Inc. Under this arrangement, financial advisors offer customers a range of investment products and services, such as estate planning, annuities, life insurance, fixed income, and equity securities and equity research and recommendations. The Bank, through Investment Professionals, Inc., also offers asset management services to customers.