OXFORD, Mich., May 30 /PRNewswire-FirstCall/ -- The Board of Directors of Oxford Bank Corporation (BULLETIN BOARD: OXBC) , the holding company for Oxford Bank, announced today that Jeffrey M. Davidson has resigned as president and chief executive officer of Oxford Bank Corporation and Oxford Bank, effective immediately. Mr. Thomas Dorr, the Company's vice president and chief financial officer, has been named chief executive officer on an interim basis. Mr. Dorr will also retain his responsibilities as CFO.
"Mr. Davidson's resignation was accepted by the Board. On behalf of the Bank, we extend our appreciation for his many years of service and commitment to the organization," said Karen Mersino, Oxford Board Chair.
The Board will immediately begin a search for a new CEO and does not expect to make any additional executive leadership changes at this time. "The Board has complete confidence that Mr. Dorr will provide excellent transitional leadership as we conduct a search for a new CEO," said Ms. Mersino.
Oxford Bank Corporation is a registered holding company. Its subsidiary, Oxford Bank, is the oldest commercial bank in Oakland County, celebrating its 125th year in 2009. The Bank was recently voted the Best Bank in Oakland County by the readers of the Oakland Press and earned the 1st Place Readers Choice for Best Bank in December of 2008 by the readers of the Oxford Leader and the Lake Orion Review. It operates eight full-service offices in Clarkston, Davison, Dryden, Goodrich, Lake Orion, Oakland Township, Ortonville and Oxford, along with a consumer lending center in Oxford and a commercial banking office in Lake Orion. The Bank has operated continuously under local ownership and management since it first opened for business in 1884. For more information about Oxford Bank and its complete line of financial services, please visit http://www.oxfordbank.com/.
Oxford Bank Corporation
CONTACT: Anthony P. Lasher, +1-248-969-7227, Fax: +1-248-969-7230,
lasher@oxfordbank.com
Web Site: http://www.oxfordbank.com/
