DELANCO BANCORP, INC. (OTCMKTS:DLNO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d) On May 23, 2017, the Board of Directors of Delanco Bancorp, Inc. (the “Company”) appointed Corissa J. Briglia as a director of the Company. Ms. Briglia was appointed as a director of the Company to the terms of the previously disclosed Standstill Agreement, dated as of April 11, 2017, by and between the Company and Stilwell Activist Fund, L.P., Stilwell Activist Investments, L.P., Stilwell Partners, L.P., Stilwell Value LLC, Joseph Stilwell and Ms. Briglia. In connection with her appointment as a director, Ms. Briglia was not appointed to serve on any committee of the Company’s Board of Directors.
About DELANCO BANCORP, INC. (OTCMKTS:DLNO)
Delanco Bancorp, Inc. is a holding company, which operates as a community-oriented financial institution, offering financial services. The Company, through its banking subsidiary, Delanco Federal Savings Bank, is engaged in the business of attracting deposits from the general public and using such funds to originate one- to four-family real estate loans, multi-family and non-residential real estate loans, home equity loans and consumer loans, which are primarily held for investment by the Company. The Company’s investment portfolio consists of mortgage-backed securities and debt securities of government sponsored enterprises. The Company’s sources of funds include deposits, borrowings and loan repayments. The Company offers a range of deposit instruments, such as non-interest-bearing demand deposits (such as checking accounts), interest-bearing demand accounts (such as negotiable order of withdrawal and money market accounts), savings accounts and certificates of deposit. DELANCO BANCORP, INC. (OTCMKTS:DLNO) Recent Trading Information
DELANCO BANCORP, INC. (OTCMKTS:DLNO) closed its last trading session 00.00 at 12.64 with 250 shares trading hands.