Old Line Bancshares, Inc. (NASDAQ:OLBK) 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.
(b) On November 27, 2017, Joseph E. Burnett, Executive Vice President and Chief Lending Officer of Old Line Bancshares, Inc. (the “Company”) and Executive Vice President of Old Line Bank (the “Bank”), informed James W. Cornelsen, the President and Chief Executive Officer of the Company and the Bank, that he will retire from his positions with the Company and the Bank effective January 2, 2018. Mr. Burnett’s decision to retire is not in connection with any disagreement with the Company, the Bank or its management.
The Company’s press release announcing Mr. Burnett’s retirement and the appointment of Jack Welborn as Chief Lending Officer, discussed below, is filed as Exhibit 99.1 hereto.
Section 8 – Other Events
Item 8.01 Other Events.
Additionally, on November 28, 2017, the Bank announced the promotion of Jack Welborn to serve as Chief Lending Officer, effective January 2, 2018. Mr. Welborn joined Old Line Bank in 2005 as a Commercial Loan Officer with an extensive background in commercial lending in the Greater Washington area.
Section 9 – Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibit is filed herewith:
99.1 Press Release dated November 29, 2017.
OLD LINE BANCSHARES INC ExhibitEX-99.1 2 ex991.htm ADDITIONAL EXHIBITS Blueprint Exhibit 99.1 Old Line Bank Announces the Retirement of Joseph E. Burnett,…To view the full exhibit click here
About Old Line Bancshares, Inc. (NASDAQ:OLBK)
Old Line Bancshares, Inc. is the holding company of Old Line Bank (The Bank). The Bank is a chartered trust company engaged in commercial banking business, making various types of loans, investments and accepting deposits. It markets its financial services to small to medium sized businesses, entrepreneurs, professionals, consumers and clients. The Bank, through its division Old Line Financial Services, provides retirement planning and products, as well as investment services. Its lending activities consists of short to medium term commercial business loans, commercial real estate loans, real estate construction loans, home equity loans and consumer installment loans, both secured and unsecured. The Bank monitors its investment portfolio and it usually classifies investments in the portfolio as available for sale. It offers a range of deposit products that include demand, negotiable order of withdrawal (NOW), money market and savings accounts, as well as certificates of deposit.
