BRIEF: Hampton Roads Bankshares stockholders OK changes
Dec 27, 2012 (Menafn - The Virginian-Pilot - McClatchy-Tribune Information Services via COMTEX) --Stockholders of Hampton Roads Bankshares on Wednesday approved changes to the company's bylaws that will streamline the election of directors.
The board of Hampton Roads Bankshares, the parent of Bank of Hampton Roads, Shore Bank and Gateway Bank, will reconvene Friday to permit a declaration of effectiveness of the amendments before year's end by the State Corporation Commission.
Shareholders approved changing directors' terms to one year rather than three. Company officials said this has become standard practice as a way to hold directors accountable on an annual basis. The Virginia Beach-based banking company's next annual meeting will be June 26.
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