Ephrata National COO and board director to step down

Ephrata National Bank has announced the retirement of a COO, the resignation of a board director and the beginning of its common stock trading on the OTCQX marketplace.

Barry E. Miller is retiring Oct. 4 as the bank’s senior vice president and COO, a position he has held since 2014, according to a recent U.S. Securities and Exchange Commission filing.  Miller joined Ephrata National in 2013 as vice president of sales and development, according to Scott Leid, Ephrata National senior vice president and  CFO.

Miller oversees the bank’s retail division, mortgage and commercial lending, money management and marketing. Before joining Ephrata National, he was a Lancaster regional president with Lititz-based Susquehanna Bank, which was acquired in 2015 by North Carolina-based BB&T Bank.

Paul M. Zimmerman Jr. also announced his resignation as a board director of the bank, effective May 7. He has served on the board of directors since 1999, according to the SEC filing.

Miller’s retirement and Zimmerman’s resignation were not the result of any disagreement with the bank or its holding company, ENB Financial Corp., according to the filing.

Ephrata also announced that its common stock began trading on the OTCQX marketplace under the symbol “ENBP,” according to a news release.

The bank was previously trading on the Pink market.

“OTCQX is a good fit for our company as it will enhance the visibility of our stock and better showcase the value of our organization to increase the level of return to our shareholders,” Aaron L. Groff Jr., Ephrata CEO and chairman of the board, said in the release.

Leid further explained that the bank’s asset size reached $1 billion two years ago and that most banks with similar assets have a presence on OTCQX or Nasdaq.

“We’re stepping up our game,” he said.

Manheim Township-based Boenning & Scattergood, a broker/dealer specializing in financial institutions, is serving as the company’s corporate broker on OTCQX.

ENB Financial Corp. is headquartered in Ephrata. Its subsidiary, Ephrata National Bank, operates 12 full-service locations in Lancaster County, southeastern Lebanon County and southern Berks County. It has assets of $1 billion.

Editor’s Note: This story has been updated to reflect additional information.