LNB BANCORP INC FILES (8-K) Disclosing Change in Directors or Principal Officers
(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
On October 22, 2013, the Board of Directors of LNB Bancorp, Inc. (the "Company")
elected Frederick D. DiSanto as a member of the Company's Board of Directors,
effective immediately, on the unanimous recommendation of the Governance
Committee of the Board of Directors. Mr. DiSanto has been elected as a Class I
director to serve a term expiring at the Company's 2014 Annual Meeting of
Mr. DiSanto, 51, has served as the Chief Executive Officer of Ancora Advisors,
LLC, a registered investment advisor, since January 2006. Mr. DiSanto served as
Executive Vice President and Manager of Fifth Third Bank's Investment Advisors
Division from 2000 to 2006, overseeing investment management, private banking,
trust and banking services. From 1998 until 2000, Mr. DiSanto served as
President and Chief Operating Officer of Maxus Investment Group and was
responsible for its marketing, sales, financial and general operations. Prior to
that, Mr. DiSanto served as managing partner of Gelfand Partners Asset
Management from 1991 until its merger with Maxus Investment Group in 1997. Mr.
DiSanto began his investment career in 1985 with McDonald Investments. Mr.
DiSanto currently is a director of W.F. Hann & Sons, an HVAC Company. In
addition, Mr. DiSanto serves as Chairman of the Greater Cleveland Sports
Commission and on the Board of the Greater Cleveland Film Commission. Mr.
DiSanto currently is a trustee of Case Western Reserve University. Mr. DiSanto
earned his Bachelor degree in Management Science and his Masters of Business
Administration from Case Western Reserve University. Mr. DiSanto previously
served as a director of PVF Capital Corp., a publicly-traded financial holding
company, from July 2010 until it was acquired in October 2013.
There is no arrangement or understanding between Mr. DiSanto and any other
person pursuant to which Mr. DiSanto was elected as a director of the
Company. Mr. DiSanto has not entered into any related party transactions with
the Company that are required to be disclosed pursuant to Item 404(a) of
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