STANLEY, Va., May 24, 2011 /PRNewswire/ -- Pioneer Bankshares,
Inc. (OTC Bulletin Board: PNBI) ("Company") held its annual
shareholders' meeting on Wednesday, May 18,
2011. At the annual meeting, shareholders elected each
of the persons listed below to serve as a director of the Company
for a term of three years and to continue in office until a
successor has been elected or until his resignation or removal in
such a manner as prescribed by the Articles of Incorporation of the
Company. The independent inspectors of election reported the
following totals as the final vote for each director elected:
Proposal 1: Election of Directors.
|
|
Nominees
|
Votes
For
|
Votes
Against
|
Votes
Withheld
|
Votes
Abstained
|
Broker
Non-Votes
|
|
|
|
|
|
|
|
|
E. Powell Markowitz
|
734,219
|
- - -
|
8,554
|
- - -
|
- - -
|
|
Mark N. Reed
|
737,556
|
- - -
|
5,217
|
- - -
|
- - -
|
|
James F. Printz
|
732,119
|
- - -
|
10,654
|
- - -
|
- - -
|
|
|
|
|
|
|
|
|
|
Other Matters: Adoption of Resolution for Honorary Director
Emeritus.
The Board of Directors of the Company also presented to the
shareholders a recommendation for the adoption of a formal
resolution naming retired Director Louis L.
Bosley an Honorary Director Emeritus in recognition and
appreciation of his previous 34 years of service with the Company.
The resolution was unanimously adopted by those shareholders
present at the meeting and shall be included in the permanent
records of the Company.
There were no other items of business requiring a vote of
security holders at this meeting.
Pioneer Bankshares, Inc. is a one-bank holding company
headquartered in Page County,
Virginia. It owns and operates Pioneer Bank with six
branch office locations. The Company's main branch and
corporate office is located in Stanley,
Virginia, with other branch locations in Shenandoah, Luray, Harrisonburg, Stanardsville, and Charlottesville, Virginia. The Bank also
operates a small consumer loan service, known as Valley Finance
Service, a Division of Pioneer Bank, and a non-deposit investment
subsidiary known as Pioneer Financial Services, LLC.
The institution has been in business for more than 100 years and
is proudly serving the banking needs of its customers and the local
community.
SOURCE Pioneer Bankshares, Inc.