Business Context and Reporting Period
This Form 8-K filing by Citizens Community Bancorp Inc. was submitted on November 29, 2012. The report addresses corporate governance changes under Item 5.02, specifically the appointment of a new director to the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a current report regarding management changes and does not contain financial statements or performance metrics.
Material Changes
The material change reported is the appointment of James R. Lang as a director of the Company and its wholly owned subsidiary, Citizens Community Federal, effective November 29, 2012. Mr. Lang was appointed to serve on the Audit, Compensation, and Nominating Committees. He will serve on the Board for the class of directors whose terms expire at the 2013 Annual Meeting of Shareholders.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of risks and contingencies. Management commentary is limited to the expectation that Mr. Lang will bring extensive leadership experience in the banking industry to the Board.
Key Facts for Investor Verification
- James R. Lang was appointed as a director effective November 29, 2012.
- Mr. Lang is expected to serve on the Audit, Compensation, and Nominating Committees.
- Mr. Lang's term as a director will expire at the 2013 Annual Meeting of Shareholders.
- The appointment was approved by the Board of Directors upon recommendation from the Nominating Committee.