RESTON, Va.--(BUSINESS WIRE)--John Marshall Bancorp, Inc. (OTCQB: JMSB), the holding company for John Marshall Bank (the “Bank”), announced today that effective as of the Annual Meeting of Shareholders, to be held on May 21, 2019, John R. Maxwell, Executive Chairman of the Board, has elected to retire from the Board of Directors, but will continue to actively engage in business development efforts on behalf of the Bank and serve as the Advisor to the Chief Executive Officer, Christopher (“Chris”) W. Bergstrom. Mr. Maxwell indicated that he is looking forward to continuing his support of the Bank and expanding his involvement with charitable and community organizations.
In connection with Mr. Maxwell’s retirement as Chairman, the Board of Directors expects to nominate current Vice Chairman of the Board and founding Director, Jonathan C. Kinney to succeed Mr. Maxwell as Chairman of the Board. Mr. Kinney is a shareholder at the law firm of Bean, Kinney and Korman, P.C. in Arlington, Virginia. He has a Juris Doctorate degree from the University of Chicago Law School and is actively involved in various philanthropic and civic efforts.
Mr. Maxwell served the Bank as Chief Executive Officer for over a decade, prior to our current President and Chief Executive Officer (CEO), Chris Bergstrom joining the organization in April of 2018. Under Mr. Maxwell’s leadership, the Bank thrived and reported strong growth and earnings. “It has been extremely rewarding to be a part of the John Marshall Bank narrative, while positively contributing to the communities in which the Bank operates. I’ve never been more optimistic about the Bank’s ability to effectively serve our clients while also being in a position of strength and relevance,” said Mr. Maxwell.
John Marshall Bank CEO, Chris Bergstrom said, “In the past year I have been with John Marshall Bank, I have been deeply impressed with John Maxwell’s insightful leadership and longstanding commitment to this community and wish him and his family all of the best in his retirement. I am confident in our team's ability to continue providing our clients with the sophisticated products, financial solutions and personalized service that they have come to expect from us, while adhering to a thoughtful and fiscally responsible growth strategy that our shareholders value.”
“On behalf of the entire board, we want to express our gratitude to John Maxwell for his service to the Company and the Bank. I look forward to working closely with Chris Bergstrom and the other members of the John Marshall Bancorp Board, to continue to build shareholder value and establish the Bank as one of the leading community business banks in the Washington, D.C. metro region,” said Mr. Kinney.
About John Marshall Bancorp, Inc.
John Marshall Bancorp, Inc. is the bank holding company for John Marshall Bank. John Marshall Bank is headquartered in Reston, Virginia and has eight full-service banking centers located in Reston, Leesburg, Arlington Alexandria, Tysons Corner and Woodbridge, Virginia; Rockville, Maryland; Washington, DC and one loan production office in Arlington, Virginia. Further information on the Bank can be obtained by visiting its website at www.johnmarshallbank.com.
This press release contains forward-looking statements within the meaning of the Securities and Exchange Act of 1934, as amended, including statements of goals, intentions, and expectations as to future trends, plans, events or results of Company operations and policies and regarding general economic conditions. In some cases, forward-looking statements can be identified by use of words such as “may,” “will,” “anticipates,” “believes,” “confident,” “expects,” “plans,” “estimates,” “potential,” “continue,” “should,” and similar words or phrases. These statements are based upon current and anticipated economic conditions, nationally and in the Company’s market, interest rates and interest rate policy, competitive factors, and other conditions which by their nature, are not susceptible to accurate forecast, and are subject to significant uncertainty. Because of these uncertainties and the assumptions on which this discussion and the forward-looking statements are based, actual future operations and results may differ materially from those indicated herein. Readers are cautioned against placing undue reliance on any such forward-looking statements. The Company’s past results are not necessarily indicative of future performance.
