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Community Trust Bancorp , Inc. (NASDAQ:CTBI) reported a change to its board of directors following the retirement of Franklin H. Farris, Jr., who stepped down after reaching the company’s mandatory retirement age of 75 on Saturday. The announcement was made in a press release statement based on a recent SEC filing.
Farris’ retirement reduces the number of board members from ten to nine. He previously served as Chairman of the Audit and Asset Quality Committee.
Following Farris’ departure, the board appointed Eugenia Crittenden “Crit” Luallen as the new Chairman of the Audit and Asset Quality Committee. Luallen is currently Vice Chairman and lead independent director on the board. According to the company, the board has determined that Luallen qualifies as an audit committee financial expert and meets the independence requirements outlined in Nasdaq listing standards Rule 5605(a)(2) and Rule 5605(c)(2).
Community Trust Bancorp, Inc. is headquartered in Pikeville, Kentucky, and its common stock is traded on the NASDAQ Global Select Market under the ticker CTBI. All information is based on a press release statement and the company’s SEC filing.
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