CHICAGO, April 29, 2016 /PRNewswire/ -- Marquette National Corporation (OTCQX: MNAT) (the "Company") today announced the resignation of Michael Devlin from the board of directors of the Company effective April 27, 2016. Mr. Devlin is an experienced commercial banker who has served on the board of directors for the past 18 years. The publicly traded bank holding company of which Mr. Devlin is the CEO is merging into a larger organization in May 2016. Because of the size of the resulting organization, Mr. Devlin is required to step down from his positions with the Company until a waiver is obtained from the Federal Reserve. On April 28, 2016, the Company filed a request for exemption with the Federal Reserve Bank of Chicago to permit Mr. Devlin to serve on the board of directors of the Company. If the exemption is granted, Mr. Devlin is expected to be reappointed to serve the remainder of his term.
Marquette National Corporation is a diversified bank holding company with total assets of approximately $1.577 billion. The Company's banking subsidiary, Marquette Bank, is a full-service, community bank that serves the financial needs of communities in Chicagoland, offering an extensive line of financial solutions, including retail banking, real estate lending, trust, investments, wealth management and business banking to consumers and commercial customers. Marquette Bank has 22 branches located in Chicago, Aurora, Bolingbrook, Bridgeview, Evergreen Park, Hickory Hills, Lemont, New Lenox, Oak Forest, Oak Lawn, Orland Park, Romeoville and Summit, Illinois. For more information visit: http://www.emarquettebank.com.
Special Note Concerning Forward-Looking Statements
This document contains, and future oral and written statements of the Company and its management may contain, forward-looking statements with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company's management and on information currently available to management, are generally identifiable by the use of words such as "believe," "expect," "anticipate," "plan," "intend," "estimate," "may," "will," "would," "could," "should" or other similar expressions. A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. These factors include, among others, the following: (i) the strength of the local and national economy; (ii) the economic impact of any future terrorist threats and attacks, and the response of the United States to any such threats and attacks; (iii) changes in state and federal laws, regulations and governmental policies concerning the Company's general business, including Basel III, the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations issued thereunder; (iv) changes in interest rates and prepayment rates of the Company's assets; (v) increased competition in the financial services sector and the inability to attract new customers; (vi) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (vii) the loss of key executives or employees; (viii) changes in consumer spending; (ix) unexpected outcomes of existing or new litigation involving the Company; and (x) changes in accounting policies and practices. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.
For more information:
EVP & CFO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/marquette-national-corporation-announcement-300260309.html
SOURCE Marquette National Corporation