Item 17.1
July 21, 2014
Independence Bancshares, Inc.
c/o Robert B. Willumstad, Chairman
500 E. Washington Street
Greenville, SC 29601
Independence National Bank
c/o H. Neel Hipp, Jr., Chairman
500 E. Washington Street
Greenville, SC 29601
Re:
Resignation as a Director of Independence Bancshares, Inc. and Independence National Bank
Dear Bob and Neel:
I hereby resign from my positions as a director of Independence Bancshares, Inc., a South Carolina corporation (the “Company”), and its wholly-owned subsidiary bank, Independence National Bank, a national bank (the “Bank”), effective as of the date of this letter, due to my disagreement with the strategic direction of the Company. I have enjoyed working with the Company, the Bank and the boards of directors during the past six years, and I wish nothing but future success for the Company.
I acknowledge that, notwithstanding this resignation, I will remain subject to the Company’s insider trading policy for as long as I am in possession of material non-public information about the Company. I further acknowledge that I will remain under a duty of confidentiality to the Company.
| Sincerely, |
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| /s/ A. Alexander McLean, III |
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| A. Alexander McLean, III |