Muncy Columbia Financial Corp Files 8-K with Officer/Director Changes
Ticker: CCFN · Form: 8-K · Filed: Feb 12, 2025 · CIK: 731122
Sentiment: neutral
Topics: corporate-governance, officer-changes, director-changes
TL;DR
Muncy Columbia Financial Corp filed an 8-K detailing leadership changes and compensation updates.
AI Summary
Muncy Columbia Financial Corporation filed an 8-K on February 11, 2025, reporting changes in its board of directors and certain officers, as well as updates to compensatory arrangements. The filing also includes financial statements and exhibits.
Why It Matters
Changes in corporate leadership and executive compensation can signal shifts in company strategy or financial health, impacting investor confidence.
Risk Assessment
Risk Level: low — This filing is a routine corporate disclosure of leadership and compensation changes, not indicating immediate financial distress or significant operational shifts.
Key Numbers
- 000-19028 — SEC File Number (Identifies the company's filing history with the SEC.)
- 23-2254643 — I.R.S. Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- Muncy Columbia Financial Corporation (company) — Registrant
- Pennsylvania (jurisdiction) — State of incorporation
- 232 East Street Bloomsburg, PA 17815 (address) — Principal executive offices
- 570 - 784-4400 (phone_number) — Registrant's telephone number
- CCFNB BANCORP INC (company) — Former company name
FAQ
What specific changes were made to the board of directors or certain officers?
The filing indicates changes related to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers', but the specific details of these changes are not provided in the excerpt.
What is the date of the earliest event reported in this 8-K?
The date of the earliest event reported is February 11, 2025.
What is the principal executive office address for Muncy Columbia Financial Corporation?
The principal executive office is located at 232 East Street, Bloomsburg, PA 17815.
What is the SIC code for Muncy Columbia Financial Corporation?
The Standard Industrial Classification (SIC) code is 6022 for State Commercial Banks.
What was the former name of Muncy Columbia Financial Corporation?
The former company name was CCFNB BANCORP INC.
Filing Stats: 1,095 words · 4 min read · ~4 pages · Grade level 12 · Accepted 2025-02-12 16:22:52
Key Financial Figures
- $650,000 — ement provides for Mr. Glunk to be paid $650,000 in a single lump sum within fifteen (15
- $900,000 — mpensation, but capped at the lesser of $900,000 or the amount of the Net Death Proceeds
- $150,000 — o the full normal retirement benefit of $150,000 under his Supplemental Executive Retire
Filing Documents
- ccfn-8k_021225.htm (8-K) — 25KB
- ex10-1.htm (EX-10.1) — 37KB
- ex10-2.htm (EX-10.2) — 5KB
- 0001999371-25-001553.txt ( ) — 252KB
- ccfn-20250211.xsd (EX-101.SCH) — 3KB
- ccfn-20250211_lab.xml (EX-101.LAB) — 33KB
- ccfn-20250211_pre.xml (EX-101.PRE) — 24KB
- ccfn-8k_021225_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers;
ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors: Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (e) On February 11, 2025, Muncy Columbia Financial Corporation (the "Company"), and its wholly-owned subsidiary, Journey Bank (the "Bank"), entered into an Employment Separation Agreement and Release dated February 11, 2025 (the "Separation Agreement") with Robert J. Glunk, Executive Chairman of the Company and the Bank, and the Bank entered into a Fourth Amendment to Supplemental Executive Retirement Plan (the "Amendment") with Mr. Glunk. The Separation Agreement and Amendment were approved by the boards of directors of the Company and the Bank on February 11, 2025. Pursuant to the Separation Agreement, Mr. Glunk's employment agreement will be terminated and his last day of active employment with the Company and the Bank will be February 28, 2025 (the "Termination Date"). He will be paid his salary pursuant to the terms of his employment agreement through the Termination Date. In consideration of the termination of his employment agreement, the Separation Agreement provides for Mr. Glunk to be paid $650,000 in a single lump sum within fifteen (15) days after the Termination Date. The Separation Agreement further provides for Mr. Glunk to receive a benefit under the Muncy Bank & Trust Company Executive Supplemental Life Insurance Plan (the "Split Dollar Plan") that was assumed by Journey Bank in connection with the merger with The Muncy Bank and Trust Company, in an amount equal to 3.5 times his compensation, but capped at the lesser of $900,000 or the amount of the Net Death Proceeds as such term is defined in the Split Dollar Plan. The Company also agreed to transfer to Mr. Glunk title to his Company vehicle, a 2023 Jeep Gladiator, and to maintain for Mr. Glunk through the date of his attainment of age 65 all employee benefit plans and programs to which he was entitled prior to the Termination Date if contin
01 FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS . (a) Not applicable (b) Not applicable (c) Not applicable ( d) Exhibits. Exhibit Number Description 10.1 Employment Separation Agreement and Release dated February 11, 2025 between Robert J. Glunk, Muncy Columbia Financial Corporation and Journey Bank 10.2 Fourth Amendment to Supplemental Executive Retirement Agreement dated February 11, 2025 between Journey Bank and Robert Glunk 104 Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Date: February 12, 2025 Muncy Columbia Financial Corporation By: /s/ Joseph K. O'Neill, Jr Name: Joseph K. O'Neill, Jr. Title: Executive Vice President and Chief Financial Officer