Oxford Bank Corporation announced that Chief Financial Officer, Richard K. Miller, will be retiring in 2023. The company's board of Directors have appointed, Jesse A. Deering, age 42, as Chief Financial Officer of the Company, effective June 20, 2022. During the past several months, the Company's and Bank's Board of Directors and executive management developed a comprehensive plan to ensure a seamless succession of the CFO position and continued development of financial systems. The plan calls for Mr. Miller to remain with the Company and Bank through a transition period.

Mr. Miller has served as SVP &CFO of Oxford and the Bank since September 18, 2017. He joined Oxford to lead the finance department through the transition and improvement of the accounting and financial reporting functions of the organization. Miller, with his 40+ years of broad experience with specific expertise in accounting, tax planning and regulatory reporting, was also a key contributor in the Company's recent acquisition related activities and overall organizational growth the past five years.

Mr. Deering brings 20 years of diversified banking experience to Oxford. Most recently, he spent 17 years with the former Mackinac Financial Corporation and mBank where he served the last 5 years as the collective organization's Executive Vice President &Chief Financial Officer. In addition to his role overseeing the day-to-day financial operations and reporting at Mackinac and its wholly owned bank, he was also part of a management team that completed five whole bank acquisitions and a follow-on equity raise as the public company grew to over $1.5 billion in assets.

He was involved in all aspects of the M&A activity including deal negotiations, financial modeling, pre-deal due diligence, expense and accretion analysis as well as post-transaction operational integration. Along with his corporate development and investor relations duties, Mr. Deering also led strategic planning initiatives for the company. Immediately preceding his time as CFO, Deering led retail branch banking, marketing and IT.

Prior to this role, he managed all banking related activities in the Southeast Michigan region as the Senior Vice President &Southeast Michigan Executive which included oversight of the regional loan portfolio, commercial lending function and branch operations. He also worked closely with the credit department serving as Assistant Vice President /Senior Credit Administrator shortly after joining the company. Mr. Deering holds an undergraduate degree from Albion College and a MBA from the University of Notre Dame.

While at Notre Dame he worked with particular focus in the areas of strategic finance, corporate communications and change management.