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PRESS RELEASE
FOR IMMEDIATE RELEASE
Raymond Heh named President and COO
Akron, OH - News Release Date: 11-20-2003 -
Central Federal Bank today announced that Raymond E. Heh has been named President and Chief Operating Officer.
About Raymond E. Heh
Raymond Heh, former Regional President of Bank One, has worked in banking for 39 years. He served as President and CEO of Winters National Bank in Cincinnati until January 1984 when it was acquired by Bank One. In 1984, Heh moved to Bank One Akron as head of commercial lending and subsequently became Chairman and Chief Executive Officer of the Akron affiliate. He has served on numerous professional and charitable organizations. Heh resides in Hudson.
“This change in our management structure reflects Ray Heh’s commitment to our Bank, his prominence in the greater Akron community, his wealth of experience, and his leadership contributions to our growing Bank”, said David C. Vernon, Chairman & CEO.
About Central Federal Bank
Central Federal Bank was organized in 1892, operates two offices in Columbiana County, Ohio, one in Columbus, Ohio, and a temporary office in Fairlawn, Ohio. The Bank is currently constructing a new office building at the corner of Smith and Ghent roads in Fairlawn, Ohio. The office is scheduled to open in the first quarter 2003. The Bank is a wholly owned by Central Federal Corporation, (NASDAQ: GCFC) which was formed in connection with the mutual-to-stock conversion of Central Federal Bank completed on December 30, 1998.
This release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. We intend these forward-looking statements to be subject to the safe harbor created by that provision. These forward-looking statements involve risks and uncertainties and include, but are not limited to, statements regarding future events and our plans, goals and objectives. Our actual results may differ materially from these statements. Although we believe the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in these forward-looking statements will be realized. The inclusion of this forward-looking information should not be regarded as a representation by our company or by any person that the future events, plans or expectations contemplated by our company will be achieved. Furthermore, past performance in operations and share price is not necessarily predictive of future performance.
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