BROOMALL, Pa., Feb. 19, 2014 (GLOBE NEWSWIRE) -- Alliance Bancorp, Inc. of Pennsylvania (the "Company") (Nasdaq:ALLB), the holding company for Alliance Bank (the "Bank"), and PL Capital, LLC, ScurlyDog Capital, LLC, certain affiliated entities and others (collectively, the "PL Capital Parties") announced that they have entered into a Standstill Agreement pursuant to which, among other things, the Company has agreed to appoint Howard Henick to the Company's Board of Directors. Mr. Richard J. Lashley, a principal of PL Capital, LLC, had previously provided the Company with notice of his intent to nominate Mr. Henick as a candidate for election to the Company's Board of Directors at the Company's 2014 Annual Meeting of Shareholders. Mr. Henick will, subject to the terms of the agreement, be added to the Boards of Directors of the Company and the Bank on March 19, 2014 and will be nominated by the Company's Board of Directors for a three-year term for election as a director of the Company at the 2014 Annual Meeting of Shareholders to be held in April 2014.
Alliance Bancorp, Inc. Of Pennsylvania Announces Agreement With PL Capital, LLC And Others
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