Northeast Bank Mourns the Loss of Chairman Robert R. Glauber
Northeast Bank (NASDAQ: NBN) announced the passing of its Chairman, Robert R. Glauber, on February 14, 2021.
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Rhea-AI Summary
Northeast Bank (NASDAQ: NBN) announced the passing of its Chairman, Robert R. Glauber, on February 14, 2021. Glauber, who led the Board since 2010, was recognized for his integrity and steady leadership. He had a distinguished career, including roles as a professor at Harvard Business School, Under Secretary of the Treasury, and CEO of NASD. The Bank extends condolences to Glauber’s family and community. Northeast Bank provides personal and business banking services in Maine and operates a National Lending Division for commercial loans.
Positive
- Experienced leadership through Robert R. Glauber since 2010.
- Strong community ties and recognition of leadership values.
Negative
- Loss of a key leader may impact investor confidence.
Details
News Market Reaction – NBN
The recorded move for NBN in the trading session of this news was +0.83%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
PORTLAND, Maine, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today the passing on February 14 of the Chairman of its Board of Directors, Robert R. Glauber. Mr. Glauber had served as Chairman of the Board since 2010, Chair of the Bank’s Governance Committee and a member of its Compensation Committee.
Rick Wayne, President and Chief Executive Officer of the Bank, said “We are deeply saddened by the passing of Bob, who led our Board with a steady hand, a sharp mind and absolute integrity. He led by example and was a role model for all of us at Northeast Bank. Our most heartfelt condolences go out to his wife, his two children and their spouses, his friends, colleagues, and students around the world. He will be missed.”
Mr. Glauber was a tenured professor at Harvard Business School at the start of his career and later an adjunct lecturer at Harvard’s Kennedy School. He directed the Brady Commission on the causes of the 1987 stock market crash and later became Under Secretary of the Treasury for Domestic Finance under President George H.W. Bush. Mr. Glauber also served as chief executive officer of NASD (now FINRA). Over his career, Mr. Glauber served on numerous corporate and non-profit boards.
About Northeast Bank
Northeast Bank (NASDAQ: NBN) is a full-service bank headquartered in Portland, Maine. We offer personal and business banking services to the Maine market via nine branches. Our National Lending Division purchases and originates commercial loans on a nationwide basis. ableBanking, a division of Northeast Bank, offers online savings products to consumers nationwide. Information regarding Northeast Bank can be found at www.northeastbank.com.
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| For More Information: | |
| Jean-Pierre Lapointe, Chief Financial Officer Northeast Bank, 27 Pearl Street, Portland, ME 04101 207.786.3245 ext. 3220 www.northeastbank.com |
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