Berlin, Maryland (December 19, 2022) - Calvin B. Taylor Bankshares, Inc. (the “Company”) (OTCQX: TYCB), parent company of Calvin B. Taylor Bank (the “Bank”) today announced that the Board of Directors has elected Thomas K. “Tom” Coates as Chair of the Board of Directors of the Company and the Bank.
Mr. Coates first joined the Board of Directors of the Company and the Bank on May 14, 2014. He is a member of Coates, Coates, and Coates, P.A., and has practiced law in the Berlin and Ocean City area since 1985. He is admitted to practice law in the State of Maryland, the United States Tax Court, and is a retired Certified Public Accountant. In 1994, he was appointed Court Auditor by the judges of the Circuit Court for Worcester County, Maryland. Mr. Coates is a member of the Worcester County and Maryland Bar Associations. He is past President of the Worcester County Bar Association, a past member of the Worcester County Board of License Commissioners and previously served as Chair of the Board of Trustees for Atlantic General Hospital. He currently serves on the Board of Trustees for TidalHealth and the Humphrey’s Foundation.
In addition to serving as Chair of the Board of Directors of the Company and the Bank, Mr. Coates is Chair of the Bank’s Governance Committee and is a member of the Audit Committee.
Raymond M. Thompson, President and Chief Executive Officer commented, “Mr. Coates’ legal and accounting background and previous Board leadership positions provide him the skills and experience to be an effective Board Chair. As we look to the future, it is important that our Board composition continues to align with the community banking industry and stockholder expectations. Mr. Coates’ understands community banking and is highly respected by his Board colleagues and our bank employees. He is well-qualified for this important leadership role”.
Thomas K. Coates
About Calvin B. Taylor Banking Company
Calvin B. Taylor Banking Company, the bank subsidiary of Calvin B. Taylor Bankshares, Inc. (OTCQX: TYCB), founded in 1890, offers a wide range of loan, deposit, and ancillary banking services through both physical and digital delivery channels. The Company has 12 banking locations within the eastern coastal area of the Delmarva Peninsula including Worcester County, Maryland, Sussex County, Delaware and Accomack County, Virginia.