Mid-Southern Bancorp, Inc. Announces Increase in the Number of the Board of Directors and Appointment of James O. King III as a New Director
16 December 2022 - 8:15AM
Mid-Southern Bancorp, Inc. (“Company”) (Nasdaq:MSVB), the holding
company for Mid-Southern Savings Bank, FSB (“Bank”), announced
today that the Company’s Board of Directors has approved an
increase in the number of members of the Board of Directors from
seven to eight and has appointed James (Jimmy) O. King, III to the
Board of Directors. Similar action was taken to add Mr. King to the
Board of Directors of the Bank.
The Company’s Corporate Governance and
Nominating Committee proposed, and the Board of Directors ratified
and approved, the increase in the number of directors of the
Corporation from seven to eight and the appointment of Mr. King to
the Board of Directors. The appointment of Mr. King to the
Company’s Board of Directors is effective December 14, 2022
for a term of office to expire at the Company’s 2024 Annual
Meeting.
Mr. King joined the Bank as its Executive Vice
President and Senior Loan Officer in October 2021. He began
his career at King Southern Bank of Chaplin, Kentucky in 1994.
Through the years Mr. King held various positions as he
advanced to the position of President and CEO of King Southern Bank
and its holding company, King Bancorp, Inc. King Bancorp, Inc. was
acquired by a Louisville, Kentucky-based regional bank in 2019.
Mid-Southern Bancorp Chairman of the Board, Dana
J. Dunbar, commented, “We are pleased to welcome Mr. King and know
he will be a valuable addition to our Boards of Directors. Jimmy’s
knowledge and extensive background in community banking will help
further our mission in the markets we serve.”
About the Company
Mid-Southern Bancorp, Inc. is the parent of
Mid-Southern Savings Bank, FSB. The Bank is a federally chartered
savings bank headquartered in Salem, Indiana, approximately 40
miles northwest of Louisville, Kentucky. The Bank conducts business
from its main office in Salem and through its branch offices
located in Mitchell and Orleans, Indiana and loan production
offices located in New Albany, Indiana and Louisville,
Kentucky.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains certain
forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements
may be identified by reference to a future period or periods, or by
the use of forward-looking terminology, such as “estimate,”
“project,” “believe,” “intend,” “anticipate,” “plan,” “seek,”
“expect,” “will,” “may,” “continue,” or similar terms or variations
on those terms, or the negative of those terms. Forward-looking
statements, by their nature, are subject to risks and
uncertainties. Certain factors that could cause actual results to
differ materially from expected results include the effect of the
COVID-19 pandemic, including on the Company’s credit quality and
business operations, as well as its impact on general economic and
financial market conditions and other uncertainties resulting from
the COVID-19 pandemic, such as the extent and duration of the
impact on public health, the U.S. and global economies, and
consumer and corporate customers, including economic activity,
employment levels and market liquidity; increased competitive
pressures; changes in the interest rate environment; general
economic conditions or conditions within the securities markets;
and legislative and regulatory changes affecting financial
institutions, including regulatory compliance costs and capital
requirements that could adversely affect the business in which the
Company and the Bank are engaged; and other factors described in
the Company’s latest Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q and other filings with the Securities and
Exchange Commission that are available on our website at
mid-southern.com and on the SEC’s website at www.sec.gov.
The factors listed above could materially affect
the Company’s financial performance and could cause the Company’s
actual results for future periods to differ materially from any
opinions or statements expressed with respect to future periods in
any current statements.
Except as required by applicable law, the
Company does not undertake and specifically declines any obligation
to publicly release the result of any revisions which may be made
to any forward-looking statements to reflect events or
circumstances after the date of such statements or to reflect the
occurrence of anticipated or unanticipated events. When considering
forward-looking statements, you should keep in mind these risks and
uncertainties. You should not place undue reliance on any
forward-looking statement, which speaks only as of the date
made.
Contact:Alexander G.
Babey, President and Chief Executive OfficerRobert
W. DeRossett, Chief Financial OfficerMid-Southern
Bancorp, Inc.812-883-2639
Mid Southern Bancorp (NASDAQ:MSVB)
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