VWF Bancorp terminates Chief Risk Officer without cause; severance $214K

VWF Bancorp, Inc.

Mark K. Schumm's employment terminated as Chief Risk Officer effective June 30, 2023.
Employment agreement dated July 13, 2022 terminated without cause.
Severance payment of $214,296.83 includes unpaid salary, expenses, PTO, and bonuses.
COBRA premium reimbursements for up to 18 months if elected.

item 1.02 item 5.02

Executive movements

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Departed

Mark K. Schumm

Chief Risk Officer

VWFB · VWF Bancorp, Inc.

Effective: 2023-06-30
Filed: June 29, 2023, 7:59 PM ET

On June 23, 2023, VWF Bancorp, Inc. (the “Company”), the holding company for Van Wert Federal Savings Bank (the “Bank”), and the Bank terminated the employment of Mark K. Schumm, Chief Risk Officer of the Bank, effective June 30, 2023.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Mark K. Schumm was terminated as Chief Risk Officer at VWF Bancorp, Inc..

Action: terminated
Role: Chief Risk Officer

Exact text from the filing

On June 23, 2023, VWF Bancorp, Inc. (the “Company”), the holding company for Van Wert Federal Savings Bank (the “Bank”), and the Bank terminated the employment of Mark K. Schumm, Chief Risk Officer of the Bank, effective June 30, 2023.

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VWF Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-011597

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