cfsbank reappoints 2 board members at annual meeting

By CHRISTINE HAINES
chaines@yourmvi.com
Two directors were reappointed to the board of Charleroi Financial MHC Wednesday during the bank’s annual meeting.
Bert Cherry and Michael Lee were reappointed to serve three-year terms. Bruce Marshall, the board’s acting chairman, summarized the past year for the bank, noting that the bank has no debts and exceeds banking standards by a large margin.
“cfsbank continues to be a viable community bank,” Marshall said.
Marshall noted that this past year included entering into an agreement with the Office of the Comptroller of the Currency (OCC), an independent bureau of the U.S. Department of the Treasury. The OCC oversees and regulates all national banks, federal savings associations, federal branches and agencies of foreign banks.
“We obviously are a stronger bank in the process,” Marshall said.
The bank’s CEO, Neil Bassi, retired after 28 years with the bank and the search is on for a new CEO, Marshall said. Cherry was named as the interim CEO for a 90-day period while the search is conducted. The bank’s Chief Lending Officer, Dave Galloni, also retired. New to the management team are Chief Lending Officer Donna Heldman and Controller Jediah Perko, a certified public accountant.
“We also are interviewing for two directors. We are looking for professionals who will add to the board,” Marshall said.

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