CLARKSTON, Mich., Nov. 1, 2011 (GLOBE NEWSWIRE) -- Mr. Ed Adler has announced his retirement as director from both Clarkston Financial Corporation (OTCBB:CKFC) and Clarkston State Bank effective October 21, 2011. Mr. Adler is the founding chairman of both entities and has served as chairman of Clarkston Financial Corporation since 1999. Mr. Adler's commitment to the bank and its mission has been unwavering over the past eleven years. He has dedicated his time and resources to the growth and turnaround of the bank and is optimistic about its future.
Mr. Adler is former president and chief executive officer of Food Town Supermarkets. He has also served on many boards including the Clinton Valley Council of Boy Scouts of America, Pontiac Osteopathic Hospital and the chairman of the Pontiac Silverdome Building Authority. He has an extensive background in commercial real estate and is the owner of Washington Management in downtown Clarkston.
J. Grant Smith, CEO, said, "It was Mr. Adler's vision to open Clarkston State Bank in 1999 to help small businesses in North Oakland County with their banking needs. The Bank has been successful in carrying out Mr. Adler's vision over the past eleven years. His insight and contributions will be missed by his fellow directors as well as the management and staff of the bank. We are thankful for his leadership and wish him well."
Clarkston State Bank opened in January 1999 and operates four branches in Clarkston, Waterford and Independence Township, Michigan.
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