FOR IMMEDIATE RELEASE:
Aquesta Bank Announces Results of Recent Shareholder Meeting and Vote
CORNELIUS, NC –June 25, 2012-- Aquesta Bank and Subsidiaries (“Aquesta”) announced today the results of its recent Shareholder meeting. During that meeting, shareholders were asked to vote on the Board’s recommendation to form a bank holding company, along with some routine items (i.e., election of board members and appointment of audit firm).
All items passed. The formation of the bank holding company resolution received overwhelming support. No shareholders exercised dissenter rights.
Jim Engel, President and CEO, said, “It’s very gratifying to have shareholders backing the Board’s recommendation. This vote provides Aquesta’s management the flexibility necessary to capitalize on opportunities that may arise in the coming years as the economy improves.”
For additional information, please contact Kristin Parsons (Executive Vice President and Chief Financial Officer) or Jim Engel (Chief Executive Officer and President) at 704-439-4343 or visit us online at www.aquesta.com.
Information in this press release may contain forward looking statements that might involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include without limitation, the effects of future economic conditions, governmental fiscal and monetary policies, legislative and regulatory changes, and changes in interest rates.