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OXFORD, Mich., Sept. 25, 2024 /PRNewswire/ -- Oxford Bank Corporation ("the Company") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank ("the Bank"), today announced the appointment of industry veteran Michael J. Tierney to the Oxford Bank Board of Directors, effective immediately.
About Michael Tierney
Tierney's career has included executive roles at various size banks throughout the region ranging from community banks to large regional institutions. Early in his career he held numerous senior roles at Comerica Bank including Senior Vice President, Personal Financial Services overseeing more than 250 depository branch locations and the consumer lending, mortgage, and electronic banking lines of business nationally. He also ran the Midwest Region for Chase Bank's Business Banking unit as the SVP, Managing Director Business Banking. He then transitioned to Peoples State Bank (Michigan) where, as President and CEO for four years before he helped co-found Blue Water Bank which raised $240 million to purchase financial institutions during the recession in 2010. In 2011, Tierney took over as the Midwest Market President for Commercial and Retail Banking at Flagstar Bank then becoming the President and CEO of the bank where he led the company through the aftermath of the Great Recession repositioning the company business model and balance sheet to achieve sustained profitability. Most recently he has served as the President and CEO of the Community Bankers of Michigan, the Lansing based trade organization dedicated to advancing Michigan based community banks through advocacy, education and a wide range of services including partner organizations to further our industry's role as a key economic engine for businesses and communities across the Great Lakes state.
Lead Independent Director Karen Mersino commented "The Board and Management has a deep commitment to improvement at every level of the organization. I believe this appointment will positively add to the Board's overall perspective and further enhance the strategic direction of the collective Company. The Board is looking forward to this relationship with a highly respected and extremely experienced Michigan banker."
Chairman, CEO and President David Lamb noted "The Bank's Board of Directors with unanimous support of the Company's Board of Directors, made this appointment to recognize the value that Mike can bring to our deliberations on a range of issues as our organization becomes larger and more complex. His experience in all facets of banking from retail and business banking to regulatory and advocacy will add even more industry knowledge to our boardroom." Lamb added "I serve on the Community Bankers of Michigan board with Mike, so I have seen first-hand why he has been such a highly regarded leader during his career and in our industry, both in our state and nationally. We look forward to welcoming him to our team at the Bank."