MetroCity Bankshares, Inc. and Metro City Bank Announces Board and Committee Changes
August 24, 2020 at 07:11 pm IST
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On August 19, 2020, William M. Hungeling notified MetroCity Bankshares, Inc. (the Company") and Metro City Bank, the wholly owned banking subsidiary of the Company (the Bank"), of his decision to resign as a member of the Board of Directors (the Board") of the Company and the Bank, effective as of October 31, 2020. As a result, Mr. Hungeling will also be resigning as the Chairman of the Company's Audit and Compliance Committee and as a member of the Company's Compensation Committee and Nominating and Governance Committee. Mr. William M. Hungeling's decision to resign is not the result of any disagreement with the Company or its management on any matter relating to the Company's operations, policies or practices. On August 19, 2020, upon the recommendation of the Nominating and Governance Committee, the Board elected Mr. William J. Hungeling to fill the vacancy created by Mr. William M. Hungeling's resignation and to serve as a member of the Boards of the Company and the Bank, effective November 1, 2020, until the election and qualification of his successor or until his earlier death, resignation, or removal. Mr. William J. Hungeling is the son of Mr. William M. Hungeling. In connection with his election to the Board, the Board has appointed Mr. Hungeling to serve as the new Chairman of the Company's Audit and Compliance Committee and as a member of the Company's Nominating and Governance Committee, effective as of November 1, 2020. Mr. William J. Hungeling, age 49, is a certified public accountant and managing shareholder of Hungeling CPA, PC, a public accounting firm located in metropolitan Atlanta. Mr. Hungeling has been with Hungeling CPA since 1994 and has been the managing shareholder since 2015.
MetroCity Bankshares, Inc. is a bank holding company. It operates through its banking subsidiary, Metro City Bank (the Bank), which is a Georgia state-chartered commercial bank. It offers a suite of loan and deposit products. The Bank operates over 20 full-service branch locations in multi-ethnic communities in Alabama, Florida, Georgia, New York, New Jersey, Texas and Virginia. It offers customary banking services, such as consumer and commercial checking accounts, savings accounts, certificates of deposit, commercial and consumer loans, including single family residential loans, money transfers and a variety of other banking services. It offers traditional depository products, including checking, savings, money market and certificates of deposits. It also offers a full suite of online banking solutions, including access to account balances, online transfers, online bill payment and electronic delivery of customer statements, mobile banking solutions for iPhone and Android phones.