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First Trade Appoints Chairman and Three New Directors

First Trade Appoints Chairman and Three New Directors

June 21, 2012
Around Town – By Neal Tepel

First Trade Union Bank, http://www.ftub.com, a full-service bank with offices in Massachusetts and New York, has appointed a new Board Chairman while welcoming three new members to its Board of Directors. Dale Stuhlmiller has been appointed First Trade Union Bank’s Chairman of the Board.  Mr. Stuhlmiller, a board member since 2008, begins his duties in June 2012.  Dale succeeds Harry Dow, who has served on the Bank’s board for ten years, with the last four as Chairman.

“Harry has been an instrumental part of the Bank’s transformation over the past four years and will be missed,” commented Michael Butler, First Trade’s President and Chief Executive Officer (CEO).  “We all are very appreciative of the time and effort Harry has put into the organization.  And we’re looking forward to the future with Dale as Chairman.”
 
Three new directors fill vacant spots beginning June 2012:
 
Steve Adamic has had a life-long career in financial management, serving as Director of Finance at Raytheon in their Data Systems Division.  Mr. Adamic also served as Chief Financial Officer, President and eventually CEO of Mercury Company.  Steve is an Arbitrator for both the American Arbitration Association and the Commonwealth of Massachusetts. He also provides consulting services for existing and start-up companies regarding disputes, personnel, finance, organization, acquisitions and contract issues.

Dr. Thomas J. Mackell, Jr. has had a life-long career in the management, administration and investment management of employee benefit funds and in the financial services industry.  Dr. Mackell currently serves as Chairman of the Board of Directors of United Benefits and Pension Services, Inc. Thomas was also appointed to the Board of Directors of the Federal Reserve Bank of Richmond on January 1, 2003 where he served as Deputy Chairman since June 2003 and as Chairman from January 1, 2005 until December 31, 2008.

Howard Newburg is a licensed Certified Public Accountant, Licensed Certified Valuation Analyst and is certified in Financial Forensics through the American Institute of Certified Public Accountants.  Mr. Newburg is the CEO and Managing Partner of Newburg & Company, LLP, a CPA Firm that provides accounting and auditing services, litigation support services, business consulting, federal and state corporate and individual income taxes, estate planning and taxes and valuation for buying/selling agreements and estate taxes. His prior CPA experience includes Laventhol & Horwath, Abrams Little-Gill Loberfeld PC, and Starr, Finer, Starr LLP.

Additionally, the following directors were elected to another one year term: Robert Carlino, Georgina Macdonald, William Mausert, Al Peciaro, Thomas Roberts, Raymond Weaving and Michael Butler. 

“We believe that the demands on community banking, from both an economic and regulatory perspective, require industry-leading professionals at all levels of the organization.  The addition of these individuals, supplemented by our existing board and management team, position us well to achieve our objective of becoming one of the highest performing community banks in the region,” said Butler.

First Trade Union Bank is one of the few banks in the USA to be unionized with employees members of UFCW.
 

June 21, 2012

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