Steven H. Shannon

About Steven H. Shannon

Independent director of Muncy Columbia Financial Corporation (CCFN). Age 62; director since 2000; owner/president of Steve Shannon Tire Company, Inc., with more than 40 years’ experience as an entrepreneur and business owner. He is classified as independent under Nasdaq-style criteria (all directors except the CEO and Chairman are independent), attended at least 75% of board and committee meetings in 2024, and serves on multiple risk-related committees, indicating active engagement and oversight .

Past Roles

External Roles

• No other public-company directorships disclosed in the proxy biography (only Owner/President role listed) .

Board Governance

• Independence: Board determined that all directors other than Messrs. Diehl and Glunk are independent; 12 of 14 directors independent (86%) .
• Attendance: Company and Journey Bank boards each held 13 meetings in 2024; every director attended at least 75% of board and committee meetings .
• Lead Independent Director: Bonnie M. Tompkins; presides at meetings of independent directors and serves as liaison; chairs Journey Bank’s Executive Committee .
• Committee memberships (Shannon):
  • Audit Committee member; committee met 4 times in 2024 .
  • Risk Committee member; committee met 4 times in 2024 .
  • ALCO Committee member; committee met 4 times in 2024 .
• Committee chair roles: None disclosed for Shannon .
• Related-party framework: Any director-affiliated transactions beyond ordinary-course banking services require approval by a majority of disinterested directors; loans and services to directors complied with Regulation O in 2024 and did not involve abnormal risk .

Fixed Compensation

• Director fee schedule: | Fee Component | 2024 Amount | 2025 Amount | |---|---|---| | Monthly Retainer | $1,550 | $1,612 | | Board Fee (per month) | $700 | $728 | | Committee Meeting Fee (per meeting) | $350 | $364 | | Special Meeting Fee (per meeting) | $450 | $468 | | Committee Chair Fee (per meeting, in lieu of committee fee) | $600 | $624 | | Audit Committee Chair Annual Fee | $12,000 | $12,480 | | Lead Independent Director Annual Fee | $6,600 | — (not disclosed) |

• Shannon’s 2024 director compensation: | Director | Director’s Fees | All Other Compensation | Total | |---|---:|---:|---:| | Steven H. Shannon | $35,100 | — | $35,100 |

• Deferred fee programs: Director deferred fee plans exist, but participants are listed (Kile, McMichael, Wenner, Klingerman, Brewington, Keenan); no deferred compensation amounts reported for Shannon .

Performance Compensation

• No director equity grants disclosed; director pay is cash-based fees. Company states it does not currently have any stock-based incentive plans, limiting equity award usage broadly .
• Performance metrics for director compensation: None disclosed; director compensation is fixed-fee based .

Other Directorships & Interlocks

• Public-company boards: None disclosed .
• Private/non-profit/academic boards: Not disclosed for Shannon beyond his business ownership .
• Potential interlocks: Shannon serves on Audit, Risk, and ALCO committees alongside regional business leaders and financial professionals, supporting information flow; no competitive/supplier/customer interlocks disclosed beyond ordinary-course banking relationships .

Expertise & Qualifications

• Domain: Entrepreneurial leadership, small business operations; 40+ years of experience .
• Governance: Active service on Audit, Risk, and ALCO committees indicates exposure to financial reporting oversight, enterprise risk management, and asset/liability risk .
• Education: Not disclosed .

Equity Ownership

Note: Proxy indicates “less than 1.00% unless otherwise stated” for individual directors; Shannon’s ownership falls below 1% .

Governance Assessment

• Strengths:
  • Independence and multi-committee service (Audit, Risk, ALCO) indicate robust participation in oversight of financial reporting and risk .
  • Attendance at least 75% and engagement across 13 board meetings in 2024 supports board effectiveness .
  • Meaningful personal share ownership (~22,981 shares) aligns interests; no pledging disclosed; anti-hedging policy enhances alignment .
• Pay structure:
  • Cash-only director compensation without equity grants minimizes pay-driven conflicts; predictable fee schedule .
• Compensation committee process (for executives):
  • Independent directors (including Shannon) acted as Committee on Executive Compensation; used Herbein HR Consulting peer data; met once in 2024, suggesting structured approach to management pay oversight .
• Conflicts/related-party exposure:
  • Ordinary-course banking services and extensions of credit to directors are governed under Regulation O; transactions require disinterested director approval if outside standard terms; 2024 loans complied and showed no unfavorable features .
• RED FLAGS:
  • None specific to Shannon disclosed (no pledging, no related-party anomalies identified, no director-specific legal proceedings reported) .