Michael Hammer joins URSB Bancorp (URSB) boards and key committees
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
URSB Bancorp, Inc. reported that its Board of Directors has appointed Michael L. Hammer as a director in the class of directors whose terms expire in 2026. His term on the Company’s Board and on the Board of its bank subsidiary, United Roosevelt Savings Bank, will begin on July 29, 2026.
Mr. Hammer was recommended by Lawrence B. Seidman, an investor in community banks, and will serve on the Audit Committee and the Nominating/Corporate Governance Committee once his term starts. He is currently the Chief Compliance Officer and Portfolio Manager of Veteri Place Corporation and an Independent Registered Representative of LPL Financial.
The Company states there are no transactions since the beginning of the last fiscal year, or currently proposed, in which URSB Bancorp was or is to be a participant, where the amount involved exceeds $120,000 and in which Mr. Hammer had or will have a direct or indirect material interest.
Positive
- None.
Negative
- None.
8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Board term start date: July 29, 2026
Board term expiration class year: 2026
Related-party transaction threshold: $120,000
3 metrics
Board term start date
July 29, 2026
Effective date for Hammer’s service on company and bank boards
Board term expiration class year
2026
Class of directors in which Hammer will serve
Related-party transaction threshold
$120,000
No transactions over this amount involving Hammer and the company
Key Terms
Emerging growth company, Audit Committee, Nominating/Corporate Governance Committee, Independent Registered Representative, +1 more
5 terms
Emerging growth company regulatory
"Securities registered pursuant to Section 12(b) of the Act Emerging growth company x"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
Audit Committee financial
"Mr. Hammer has been appointed to serve on the Audit Committee"
A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.
Nominating/Corporate Governance Committee financial
"and Nominating/Corporate Governance Committee of the Company’s Board of Directors"
A nominating/corporate governance committee is a small group of a company’s board members tasked with choosing and evaluating directors and setting the rules that guide how the board operates. Think of it as the board’s hiring and rule-making team: it shapes leadership, board makeup, independence and ethical standards, which in turn influence how well the company is overseen and how investor interests are protected.
Independent Registered Representative financial
"and an Independent Registered Representative of LPL Financial, Fort Mill, South Carolina"
registered investment advisory firm financial
"Veteri Place Corporation, Parsippany, New Jersey, a registered investment advisory firm"
FAQ
What board change did URSB (URSB) announce in this 8-K filing?
URSB Bancorp, Inc. announced the appointment of Michael L. Hammer to its Board of Directors, with his term beginning on July 29, 2026 and expiring in 2026, adding banking and compliance experience to its governance structure.
When does Michael L. Hammer’s term begin on URSB (URSB)’s boards?
Michael L. Hammer’s term on the URSB Bancorp, Inc. Board and the United Roosevelt Savings Bank Board begins on July 29, 2026. He joins as a director in the class whose terms expire in 2026, aligning his start date across both entities.
Which URSB (URSB) board committees will Michael L. Hammer join?
Michael L. Hammer will serve on URSB Bancorp, Inc.’s Audit Committee and Nominating/Corporate Governance Committee once his term starts on July 29, 2026, giving him direct involvement in financial oversight and board nomination and governance matters for the company.
Who recommended Michael L. Hammer for the URSB (URSB) board seat?
Michael L. Hammer was recommended to URSB Bancorp, Inc.’s Board of Directors by Lawrence B. Seidman, described as an investor in community banks, indicating that his appointment followed input from an experienced sector-focused investor familiar with regional and community banking institutions.
What is Michael L. Hammer’s professional background relevant to URSB (URSB)?
Michael L. Hammer is Chief Compliance Officer and Portfolio Manager at Veteri Place Corporation and an Independent Registered Representative of LPL Financial. He previously served on the boards and audit committees of HV Bancorp, Inc., Huntington Valley Bank, and Simsbury Bank & Trust Company.