Company: EMYB
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001449794-25-000004
Chunk: 16

Company: Embassy Bancorp, Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 16
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 (such as the short-term interests of shareholders) as dominant or controlling.

As a part of its strategic planning process, the Board regularly engages with members of the Company’s executive management team and professional advisors in order to review and evaluate the Company’s business plan and strategic direction. Particular attention is paid to trends in the financial services industry both locally and nationally, continued customer migration toward mobile and electronic banking products and services, developments in the area of cyber-security and advances in the tools and techniques utilized by cyber criminals, and overall risk management, in order to ensure that the Company is well-positioned to continue its mission to remain an independent, locally owned and operated community bank. As evidenced by its strong historical earnings, asset quality, and the retention of essentially the same senior management team for the Bank’s full 24 year history, the Company continues to successfully execute its mission.

As with any company, succession planning is an important aspect of the Board’s strategic planning process, particularly as members of the Company’s Board and management team continue to age. While no individual member of the Board or executive management team has communicated an expectation or desire to retire in the near-term, the Board continues to work with executive management to implement programs and procedures designed to mitigate against the risk of disruption caused by expected and unexpected departures of key personnel. Because a significant contributing factor to the Company’s long-term success has been the efficiency with which it runs its operations, an important component of these programs is cross-training of officers among various disciplines within the Company, which is intended to ensure that the Company will always have the benefit of a well-rounded team of officers able to support multiple functional areas within the Company should the need arise. The Company has established a Leadership

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Team comprised of all Executive Officers and one Senior Vice President which meets weekly to review the strategic direction of the Bank and address any new developments that may impact the Company as a whole.

DirectorIndependence

As of April 21, 2025, all but three members of the Board of Directors are considered independent as determined in accordance with the independence standards of the NASDAQ Stock Market. Mr. Lobach, Chairman, President and CEO of the Company, Bernard Lesavoy, Esquire, whose firm provides legal services to the Company and who also serves as an officer of Red Bird Associates, LLC, and Frank Banko III, who serves as an officer of and owns 51% of Red Bird Associates LLC and who also receives rent from the Bank for a branch office,