Partners Bancorp announced that, as planned, John W. Breda has succeeded Lloyd B. Harrison, III as Chief Executive Officer of the Company (the ‘CEO Transition'). In addition, the Company announced that Mr. Harrison will serve as Senior Executive Vice President of the Company. In these executive roles, Mr. Breda and Mr. Harrison will work together on the Company's review of all strategic alternatives available to the Company to enhance returns to shareholders and other special strategic projects.

Mr. Breda continues to serve as President and Chief Executive Officer of The Bank of Delmarva, and Mr. Harrison continues to serve as Chief Executive Officer of Virginia Partners Bank. The CEO Transition was completed in accordance with the terms of Mr. Breda's and Mr. Harrison's employment agreements with the Company, as amended.