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William Valerian and James Hojnacki, CPA Appointed
Monday, January 12, 2004


Liberty Bank Board Forms New Team


William Valerian to Chairman & CEO, James Hojnacki, CPA to Senior Vice President and Chief Credit Officer

January 12, 2004; Twinsburg, Ohio– Liberty Bank, N.A. and its Board of Directors has appointed William A. (Bill) Valerian to the position of Chairman and CEO and James M. Hojnacki, CPA, to the position of Senior Vice President and Chief Credit Officer. Mr. Valerian, who has been Chairman of the Board of Directors since June of 2003 succeeds Philip Studer who had held the position of President and CEO since July of 2001. Liberty Bank, N.A. is a thirteen-year-old financial institution with locations in Twinsburg and Solon. Liberty specializes in growing privately held businesses, corporate and consumer banking and commercial real estate.


“The Board is appreciative of the efforts of Philip Studer but has decided a change of direction is in the best interests of the bank's future,” stated Mr. Valerian. “With the addition of Jim Hojnacki, a proven, quality lender with a track record of growth and stability, we hope to deliver the message of commitment to those principles.”


Mr. Valerian has been in the financial institution industry since 1969 and is presently Director of Mortgage Consulting for Smythe, Cramer Company’s Home Mortgage Assured Corporation. Previously, he was President of Charter One Investor Services, a subsidiary of Charter One Financial, Inc., the parent of Charter One Bank, N.A. Prior to his affiliation with Charter One Bank, Mr. Valerian was the Chairman, President and CEO of Haverfield Corporation and the CEO of Home Bank, which was owned by Haverfield Corporation. He is the former Director of the Edward M. Muldoon Center for Entrepreneurship at John Carroll University. Mr. Valerian is a graduate of Marquette University and a 1961 graduate of St. Ignatius High School. Mr. Valerian has a long history of civic involvement including serving as the chairman of the Convention and Visitors Bureau of Greater Cleveland, a trustee for both the Cleveland Institute of Art and Notre Dame College and a member of the Visiting Committee of the Levin College of Urban Affairs at Cleveland State University. Additionally, he is the past chairman of the Institute of Financial Education where he served as a National Director and president of a local chapter.


James M. Hojnacki, CPA also was appointed to the position of Senior Vice President and Chief Credit Officer. Mr. Hojnacki comes to Liberty Bank from The Provident Bank, where he served as a Regional Vice President. Mr. Hojnacki has over two decades of experience in commercial banking, underwriting, business development and public accounting. Mr. Hojnacki was also an Assistant Vice President with Keycorp and a senior accountant with Pricewaterhouse.


Mr. Hojnacki earned his Bachelor’s in Business Administration from the James J. Nance College of Business Administration at Cleveland State University with a major in accounting. He is a certified public accountant in the State of Ohio, a member of the Accountancy Board of Ohio, the Executive Loan Committee of Cascade Capital Corporation and a board member and director of corporate gifts at Valley Christian Academy. Mr. Hojnacki resides in Hudson with his wife Nancy and their three sons. James M. Hojnacki, CPA


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