Orange Savings Bank Elects New Directors

 Mike Poutra and Ted Hanchey were elected as Directors of Orange Savings Bank and its parent company OSB Financial Services Inc. in a meeting held on October 20, 2004 .

 Darby Byrd, President/CEO of Orange Savings Bank stated, “Hanchey’s election will continue our commitment to serve the needs of the Vidor and West Orange County area”. Hanchey is a long time resident of Vidor. He has previously owned and operated businesses in Orange , Jefferson and Hardin County . He is currently active in commercial real estate investments and home building. Hanchey attended Lamar University , Beaumont and currently serves as a board member of Main Street Ministries. He and wife, Betsy, reside in Vidor and are members of First Baptist Church there.  Byrd said, “Ted brings a wealth of business knowledge to our Board and a genuine concern for the well being of this community”.


Poutra


Hanchey

 “Mike Poutra is a life long resident of the Orange area and we are pleased to have a local person of his character and ability as a member of our team”, said Tommy Gunn, Orange Savings Bank and OSB Financial Services Board Chairman. Gunn added, “As a local bank we look for stockholders and directors who are business owners in our community.   They know first-hand what it takes to operate in our area, and Mike Poutra fit the profile”. He and wife Gwen own and operate Dominion Forms with offices in Orange and Houston. Poutra is a Lamar University graduate. The Poutras are members of North Orange Baptist Church .  Mike is also a Director of the Little Cypress Mauriceville Educational Foundation, a member of Orange Rotary and the Greater Orange Chamber of Commerce.  He has also served as a Board Trustee for the LCM School District .

President Byrd stated the sale of the Charter of the former Mauriceville National Bank (now Orange Savings Bank of Texas ) is pending subject to regulatory approval. The charter was purchased by an out of state bank which will operate in the Dallas area under a new name. Once the transaction is completed all five locations of Orange Savings Bank will operate under one charter.  In addition to the immediate financial benefit there will be on going service and cost benefits to both stockholders and customers. The Bank will have total assets of about $242 million with four locations in Orange County and one in Newton County .