TERRITORIAL BANCORP INC. (NASDAQ:TBNK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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TERRITORIAL BANCORP INC. (NASDAQ:TBNK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

TERRITORIAL BANCORP INC. (NASDAQ:TBNK) 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 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On August 28, 2019, Richard Murakami retired as a director of Territorial Bancorp Inc. (the “Company”) and its subsidiary, Territorial Savings Bank, effective immediately.

On August 28, 2019, John M. Ohama was appointed to the boards of directors of the Company and Territorial Savings Bank, effective at the September board meeting.

There are no arrangements or understandings between Mr. Ohama and any other person to which Mr. Ohama became a director. Mr. Ohama is not a party to any transaction with the Company or Territorial Savings Bank that would require disclosure under Item 404(a) of Securities and Exchange Commission Regulation S-K. Mr. Ohama has been appointed as a member of the Company’s Compensation Committee and Nominating Committee.

Item 9.01 Financial Statements and Exhibits

Not applicable.

About TERRITORIAL BANCORP INC. (NASDAQ:TBNK)

Territorial Bancorp Inc. is a bank holding company. The Company owns Territorial Savings Bank (the Bank). The Bank provides financial services to individuals, families and businesses through its approximately 30 banking offices located throughout the State of Hawaii. Its business consists of accepting deposits from the general public and investing those deposits together with funds generated from operations and borrowings in one- to four-family residential mortgage loans and investment securities. It offers a range of deposit accounts, including passbook and statement savings accounts, certificates of deposit (CDs), money market accounts, commercial and regular checking accounts, and Super NOW accounts. It also offers various non-deposit investments to its customers. Its primary lending activity is the origination of one- to four-family residential mortgage loans. Its primary source of funds for its investment and lending activities includes deposits.