Karen Mersino Named Board Chair of Oxford Bank Corporation and Oxford Bank

OXFORD, Mich., May 19 MI-Oxford-Bank-elect
OXFORD, Mich., May 19 /PRNewswire-FirstCall/ -- The board of directors of Oxford Bank Corporation (OTC Bulletin Board: OXBC), the holding company for Oxford Bank, announced today the appointment of Karen Mersino to board chair of both the Corporation and the Bank. The move is pending regulatory approval. Mrs. Mersino has been a member of the board of directors since 1999.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090519/DE19714 )

Jeffrey M. Davidson, president and chief executive officer of the Corporation and the Bank, who has served as chairman since April of 2007, commented on the move, "As I have stated in prior correspondences, the board and management have remained aggressive in evaluating all areas of our organization as we look to lead Oxford Bank back to profitability. During the last twelve-to-eighteen months, we have initiated the reorganization of vital functional areas, leadership positions, and board and managerial committees, with an eye toward improving oversight, work flow and the dissemination of critical information. This current announcement represents the next action in this process. The separation of the duties of board chair from the internal president and CEO more closely reflects the manner in which this Board functions, and always has. During these times of increased outside scrutiny, perception often over-rules reality. Therefore, I feel it is important to emphasize that this change is not just symbolic, it is prudent. Karen is an outstanding business person with a vast background in operating and chairing numerous corporations and entities. She has been a critical contributing member of our board for ten years, and is the right choice to assume these responsibilities. I sincerely look forward to furthering our already strong professional relationship." Mr. Davidson will remain a member of both boards of directors.

In addressing her appointment, Mrs. Mersino added, "I'm honored by the board's decision and their confidence in me. The opportunity to play such an integral role in the guidance of this historic, 125-year old institution is humbling. My ten-year association with Oxford Bank has been a rewarding one. I look forward to broadening that experience as I undertake this new challenge."

A resident of Lapeer, Michigan, Mrs. Mersino is the co-founder, and current chief financial officer, of Mersino Dewatering and Mersino Enterprises with operations in Michigan, Ohio and Florida. She is the founder and former operator of the Oxford Frosty Boy ice cream parlor, as well as a licensed real estate broker and owner of several property management companies. She, also, currently serves as a member of the board of trustees of the Lapeer Regional Medical Center.

Mrs. Mersino's professional leadership experience also includes an eight-year period as a Brandon School District board member (four as the board's president), six years as vice chair, and two years as chair, of the Lapeer County Republican Party, and three years as chair of the board of directors of Our Lady Academy in Lapeer, Michigan. She has also donated her time as the chair of the Immaculate Conception Parish council in Lapeer, Michigan and as a member and officer of the Brandon Sports Boosters.

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 www.oxfordbank.com.


SOURCE Oxford Bank Corporation