TROY, Mich., Nov. 21, 2014
/PRNewswire/ -- (NASDAQ TLMR) Talmer Bancorp, Inc. announced
today that Wilbur L. Ross, Jr. has
resigned from its Board of Directors. Talmer's Board is
scheduled to meet in December 2014 to
address the vacancy resulting from Mr. Ross' resignation. WL
Ross & Co. intends to nominate Denny
Kim to the Board at that time.
Mr. Kim is a Vice President at WL Ross & Co. and has worked
closely with the Talmer team since WL Ross & Co.'s initial
investment in the Company. Mr. Kim would replace Mr. Ross who
has served on Talmer's Board since 2010.
"It has been an honor and privilege to have Mr. Ross as an
active Board member but we have every confidence that upon official
appointment, Mr. Kim will carry forward the valued contributions we
have come to expect from Mr. Ross and WL Ross & Co.," said
Gary Torgow, Chairman of Talmer
Bancorp, Inc.
Mr. Ross resigned from the Board due to regulatory restrictions
in the European Union which limit the number of directorships a
bank officer may hold. Mr. Ross was recently appointed Vice
Chairman of the Bank of Cyprus
following a recent investment by WL Ross & Co. "I regret
having to resign from the Board of Talmer Bancorp, along with
several other companies with whom I have worked closely, but I am
pleased to recommend Denny to the Board, and I am fully confident
in his ability to contribute to Talmer's continued success.
WL Ross & Co. and its affiliates remain a major shareholder of
Talmer and I will continue to be engaged with this well-managed
Company," said Mr. Ross.
Mr. Kim joined WL Ross & Co. in 2010 and is primarily
responsible for investments in financial services companies. Prior
to joining WL Ross & Co., Mr. Kim worked at J.C. Flowers &
Co., a private equity firm focused exclusively on the financial
services sector. Mr. Kim began his career in Credit Suisse First
Boston's Investment Banking Division, where he advised on mergers,
acquisitions and capital raising initiatives for financial
institutions. Mr. Kim holds an M.B.A. from the Tuck School of
Business at Dartmouth and a B.A. from
Northwestern University.
About Talmer Bancorp, Inc.
Headquartered in Troy,
Michigan, Talmer Bancorp, Inc. is the holding company for
Talmer Bank and Trust and
Talmer West Bank. These banks,
operating through branches and lending offices in Michigan, Ohio, Indiana, Maryland, Nevada, and Illinois, offer a full suite of commercial and
retail banking, mortgage banking, wealth management and trust
services to small and medium-sized businesses and individuals. For
more information, please visit www.talmerbank.com.
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SOURCE Talmer Bancorp, Inc.