Oxford Bank Corporation Expands Board Expertise with Appointment of Michael Tierney
Oxford, Michigan – September 25, 2024 – Oxford Bank Corporation (OTC: OXBC), the holding company for Oxford Bank, today announced the addition of banking industry veteran Michael J. Tierney to its Board of Directors, effective immediately. Tierney’s extensive experience, spanning roles in community banks and large regional institutions, will bring valuable insights and guidance to Oxford Bank’s continued growth and success.
A Career Dedicated to Banking Excellence
Tierney’s career has been marked by impactful leadership roles across various sizes and types of banks. Early in his career, he held numerous senior positions at Comerica Bank, including Senior Vice President of Personal Financial Services, overseeing over 250 branches and managing consumer lending, mortgages, and electronic banking operations nationwide. He also led the Midwest Region for Chase Bank’s Business Banking unit, serving as SVP and Managing Director.
Tierney then moved to Peoples State Bank in Michigan, where he served as President and CEO for four years. Subsequently, he co-founded Blue Water Bank, raising $240 million to acquire financial institutions during the 2010 recession. In 2011, he became the Midwest Market President for Commercial and Retail Banking at Flagstar Bank and eventually rose to become the bank’s President and CEO. Under his leadership, Flagstar navigated the aftermath of the Great Recession, repositioning the company’s business model and balance sheet to achieve sustained profitability.
Most recently, Tierney served as President and CEO of the Community Bankers of Michigan, a Lansing-based trade organization dedicated to supporting Michigan’s community banks through advocacy, education, and a range of services.
A Wealth of Experience to Benefit Oxford Bank
Karen Mersino, Lead Independent Director, commented, “The Board and Management are deeply committed to continuous improvement at every level of our organization. We believe that Michael’s appointment will bring a valuable perspective to the Board and further enhance our strategic direction. We look forward to this partnership with such a respected and experienced Michigan banker.”
David Lamb, Chairman, CEO and President, added, “The Bank’s Board of Directors, with unanimous support from the Company’s Board, made this appointment recognizing the immense value Mike can bring to our discussions on a range of issues as our organization grows. His experience across all facets of banking – from retail and business banking to regulatory and advocacy – will contribute even more industry knowledge to our boardroom.”
Lamb continued, “I serve on the Community Bankers of Michigan board with Mike, so I’ve witnessed firsthand why he’s been such a highly regarded leader throughout his career, both in our state and nationally. We are eager to welcome him to our team at Oxford Bank.”
About Oxford Bank
Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. As the oldest commercial bank in Oakland County, it operates seven full-service branches in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville, and Oxford. The Bank also has Customer Experience Centers in Rochester Hills and Macomb, Michigan, offering transactional services through Interactive Teller Machines. Additionally, Oxford Bank has business banking centers in Wixom, downtown Oxford, Ann Arbor, and Flint, Michigan.
Since its founding in 1884, Oxford Bank has continuously operated under local ownership and management. For more information about Oxford Bank and its comprehensive range of financial services, visit www.oxfordbank.com.
