Press Release (ePRNews.com) - Vienna, VA - Apr 08, 2016 - On March 23, 2016 Jacques Rebibo submitted his resignation to the Board of Directors of MainStreet Bank and it was accepted by the Board of Directors on March 31, 2016. Mr. Rebibo stated in his opinion, poor governance has resulted in a concentration of power in the hands of the President, who is also CEO and Chairman, and has marginalized the shareholders.
It is Mr. Rebibo’s understanding that his resignation is the fifth resignation by a director of MainStreet Bank citing poor governance as the principal reason for his or her respective resignation.
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Ategra Capital Management, LLC
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