CIB Marine Bancshares, Inc. Announces Expansion of Board of Directors and Appointment of New Director
Annual Meeting of Shareholders Set for April 30, 2026BROOKFIELD, Wis., Feb. 13, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of CIB Marine Bancshares, Inc. (the "Company” or "CIB Marine”) (OTCQX: CIBH), the parent company of CIBM Bank, has approved an expansion of the Board from nine to ten members. The newly created seat has been filled with the appointment of Mr. Dennis Pollack, effective February 16, 2026. Mr. Pollack will also join the Board of Directors of the Company’s wholly owned subsidiary, CIBM Bank.Mr. Pollack will serve in the director class scheduled to stand for re‐election at the Company’s 2028 Annual Meeting of Shareholders.The Company also announced that its 2026 Annual Meeting of Shareholders will be held virtually on April 30, 2026. Standing for election at the 2026 Annual Meeting will be Directors Gina M. Cocking, Mark A. Elste, and Steven C. Palmitier."We are very pleased to welcome Mr. Pollack to our Boards,” said Mark Elste, Chairman of CIB Marine. "He brings extensive leadership experience within financial institutions and a deep understanding of the banking industry. His banking expertise, knowledge of the broader markets, and skills in strategic planning and implementation will further strengthen our commitment to creating value for our shareholders and we look forward to his contributions.”Mr. Pollack brings significant board and executive management experience to CIB Marine. His background includes executive roles at Sony Corporation of America, the Connecticut Bank of Commerce, the Savings Bank of Rockland County, and Paulson & Company. He has served on the boards of several depository institutions, including TF Financial Corp., SI Financial Group, Prudential Bancorp, and Provident Bancorp. CIB Marine Bancshares, Inc. is the holding company for CIBM Bank, which operates nine banking offices and has mortgage loan officers and/or offices in six states. More information on the Company is available at www.cibmarine.com, including recent shareholder letters, links to regulatory financial reports, and audited financial statements.FORWARD-LOOKING STATEMENTSCIB Marine has made statements in this release that may constitute "forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. CIB Marine intends these forward-looking statements to be subject to the safe harbor created thereby and is including this statement to avail itself of the safe harbor. Forward-looking statements are identified generally by statements containing words and phrases such as "may,” "project,” "are confident,” "should be,” "intend,” "predict,” "believe,” "plan,” "expect,” "estimate,” "anticipate” and similar expressions. These forward-looking statements reflect CIB Marine’s current views with respect to future events and financial performance that are subject to many uncertainties and factors relating to CIB Marine’s operations and the business environment, which could change at any time.There are inherent difficulties in predicting factors that may affect the accuracy of forward-looking statements. Stockholders should note that many factors, some of which are discussed elsewhere in this release and in the documents that are incorporated by reference, could affect the future financial results of CIB Marine and could cause those results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. These factors, many of which are beyond CIB Marine’s control, include but are not limited to:operating, legal, execution, credit, market, security (including cyber), and regulatory risks;economic, political, and competitive forces affecting CIB Marine’s banking business;the impact on net interest income and securities values from changes in monetary policy and general economic and political conditions; andthe risk that CIB Marine’s analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. CIB Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to significant risks and uncertainties and CIB Marine’s actual results may differ materially from the results discussed in forward-looking statements.FOR INFORMATION CONTACT:J. Brian Chaffin, President & CEO(217) 355-0900brian.chaffin@cibmbank.com
2026-02-13 18:36:41