2011-02-03 / Front Page

Tower Bank Restructures Board Of Directors

McConnellsburg directors resign

According to a Security and Exchange Commission filing, Tower Bancorp Inc. and its subsidiary, Graystone Tower Bank, on January 27 implemented a board restructuring plan providing for the reduction of the number of directors serving on their respective boards.

Tower Bancorp received voluntary resignations from nine directors, including two McConnellsburg directors originally from The First National Bank of McConnellsburg board. Dr. Harry D. Johnston and Patricia A. Carbaugh have resigned from the Tower Bancorp Board along with Jeffrey B. Shank, former president of The First National Bank of Greencastle, Stephen E. Beck, John M. DiSanto, Marcus Faust, John A. Featherman, III, Frederic M. Frederick and Mark E. Gayman.

Terry Randle of Hagerstown also on The First National Board when it was bought by The First National Bank of Greencastle will remain on the board. The First National Bank of Greencastle was subsequently merged with Harrisburg, Pa.,-based Tower Bank and Lancaster, Pa.,- based Graystone Tower Bank.

According to Globe Newswire, Tower Bancorp Inc. has also announced the appointment of Jeffrey Renninger to the position of president and chief operation officer and Janak M. Amin to the position of president and chief executive officer of Graystone Tower Bank, effective immediately. The announcement was made by Andrew Samuel, chairman and CEO of Tower Bancorp.

Prior to their appointments, Amin was president and CEO of the Graystone Bank division of Graystone Tower Bank, and Renninger was executive vice president, chief operating officer of Tower Bancorp Inc. In their new roles, Renninger will be responsible for overseeing all the operating functions of the organization, while Amin will oversee Graystone Tower Bank’s three divisions: Graystone Bank, Tower Bank, and 1N Bank.

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