Territorial Bancorp Inc. Announces Results of Annual Meeting

Rhea-AI Summary

On June 11, 2020, Territorial Bancorp Inc. (NASDAQ: TBNK) held its 2020 Annual Meeting of Stockholders in Honolulu, Hawaii. The Company announced the re-election of Board members Howard Y. Ikeda and David S. Murakami for three-year terms. Stockholders also ratified Moss Adams LLP as the independent public accounting firm for the fiscal year ending December 31, 2020, and approved executive officer compensation on an advisory basis. Territorial Savings Bank, founded in 1921, operates 29 branches across Hawaii.

Positive

• Board members Ikeda and Murakami re-elected for three-year terms.
• Moss Adams LLP ratified as independent accounting firm for 2020.

Negative

• None.

News Market Reaction – TBNK

+5.32%

1 alert

+5.32% News Effect

On the day this news was published, TBNK gained 5.32%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HONOLULU, June 11, 2020 (GLOBE NEWSWIRE) -- Territorial Bancorp Inc., (NASDAQ:  TBNK) (the “Company”), headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, announces the results of its 2020 Annual Meeting of Stockholders held on June 11, 2020.

Two members of the Board of Directors, Howard Y. Ikeda and David S. Murakami, were each elected to serve for a three-year term.  Stockholders also ratified the appointment of Moss Adams LLP as the independent registered public accounting firm for the Company for the year ending December 31, 2020 and approved the Company’s compensation of named executive officers on an advisory basis.

Territorial Savings Bank is a state chartered savings bank that was originally chartered in 1921 by the Territory of Hawaii.  Territorial Savings Bank conducts business from its headquarters in Honolulu, Hawaii and has 29 branch offices in the State of Hawaii.

Contact:		Walter Ida
		(808) 946-1400

FAQ

What were the results of TBNK's Annual Meeting on June 11, 2020?

Territorial Bancorp Inc. announced the re-election of Board members and the ratification of its accounting firm.

Who were re-elected to the Board of Directors of TBNK?

Howard Y. Ikeda and David S. Murakami were re-elected for three-year terms.

Which accounting firm was approved for TBNK for 2020?

Moss Adams LLP was ratified as the independent accounting firm for the fiscal year ending December 31, 2020.

What was approved regarding executive compensation at TBNK's 2020 meeting?

Stockholders approved the compensation of named executive officers on an advisory basis.