Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
| 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On December 16, 2020, Robert L. Hunter advised the Board of Directors (the “Board”) of Emclaire Financial Corp (the “Company”) that he was retiring from the Board effective on December 31, 2020. In addition, Mr. Hunter also advised that he was retiring from the Board of Directors of The Farmers National Bank of Emlenton (the “Bank”), the Company’s wholly owned subsidiary, effective on December 31, 2020.
On December 16, 2020, the Board appointed Steven J. Hunter to the Board of Directors of the Company, effective on January 1, 2021. He is a Managing Director of TM Capital Corp. (“TM”), headquartered in their Atlanta office. Steven applies his extensive background in investment banking to lead the firm’s Financial Sponsor practice. During Steven’s 20+ year career, he has worked with clients in a broad range of industries, including industrial, business services and consumer. Prior to joining TM, Steven was a Managing Director with Greene Holcomb Fisher (“GHF”), which was acquired by BMO Capital Markets. While at GHF, Steve opened their Atlanta office and built and led the firm’s private equity coverage group. During his four plus years at GHF, Mr. Hunter was involved in more than 40 transactions involving private equity firms. Prior to joining GHF, Steven was a managing director at Morgan Keegan, a middle-market investment banking firm, where he co-led the firm’s Industrial and Financial Sponsor Coverage efforts. Mr. Hunter has also worked at Robertson Stephens, Alex. Brown & Sons and The Robinson-Humphrey Company. Steven received an MBA from Harvard Business School and a B.A., magna cum laude with Honors in Economics, from Bucknell University.
The Board has not yet made a determination as to which Board committees Mr. Hunter will serve on. Steven Hunter is the son of Robert Hunter. Steven Hunter will serve an initial term as director until the Company’s next annual meeting of shareholders to be held in April 2021. The Board of Directors of the Bank also appointed Steven Hunter to serve on the Board of Directors of the Bank, effective on January 1, 2021.
