Guaranty Bancorp (NASDAQ:GBNK) 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.
On June 29, 2017, W. Kirk Wycoff accepted the offer of the Board of Directors (the “Board”) of Guaranty Bancorp (the “Company”) to serve as a director on the Board. Mr. Wycoff will also serve as a director on the Board of Directors (the “Bank Board”) of Guaranty Bank and Trust Company (the “Bank”). On February15, 2017, Mr. Wycoff resigned from both the Board and the Bank Board in order to represent the investors of Patriot Financial Group(collectively the “Patriot Group”) on another board opportunity. Prior to February of 2017, Mr. Wycoff had served as a member of the Board and the Bank Board and as a member of the Board’s Corporate Risk Committee since 2009.
The Company is party to that certain Investment Agreement, dated as of May 6, 2009 (the “InvestmentAgreement”) by and among members of the Patriot Group and the other investors party thereto. to theInvestment Agreement, the Patriot Group is entitled to nominate one person to either be elected or appointed as adirector or be appointed as an observer to the Board. Mr. Wycoff was appointed to the Board and the Bank Board atthe request of the Patriot Group, of which he is a managing partner, to the Patriot Group’s right under the InvestmentAgreement. Mr. Wycoff is also a limited partner in certain entities in the Patriot Group.
As of the date hereof, Mr.Wycoff has not yet been appointed to serve as a member of any of the Board’scommittees. Although at this time there is no specific committee that he is expectedto be appointed to, the Boardexpects to appoint him to a committee at its next regularly scheduled meeting.
About Guaranty Bancorp (NASDAQ:GBNK)
Guaranty Bancorp is the bank holding for Guaranty Bank and Trust Company (the Bank). The Company’s segment is banking. The Company operates approximately 30 branches and over two investment management firms, including Private Capital Management LLC (PCM) and Cherry Hills Investment Advisors Inc. (CHIA), in Colorado through the Bank. The Bank provides banking and other financial services, including commercial and industrial loans, real estate loans, construction loans, consumer loans and agriculture loans across its targeted Colorado markets to consumers and small to medium-sized businesses, including the owners and employees of those businesses. The Bank also provides wealth management solutions, including trust and investment management services. It provides traditional deposit accounts, such as demand, interest-bearing demand, negotiable order of withdrawal (NOW), money market, individual retirement accounts (IRA), time deposits and savings accounts.