Partners Bancorp, the parent company of The Bank of Delmarva, Seaford, DE, and Virginia Partners Bank, Fredericksburg, VA, announced that, as planned, John W. Breda has succeeded Lloyd B. Harrison, III as Chief Executive Officer of the Company. In addition, the Company announced Harrison will serve as Senior Executive Vice President of the Company. In these executive roles, Breda and 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.

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

“On behalf of the Board of Directors, I want to thank Lloyd for his excellent service as the Company’s CEO and his leadership following the combination of Virginia Partners Bank and The Bank of Delmarva that created Partners Bancorp,” said Jeffrey F. Turner, Chairman of the Company’s Board of Directors. “The Company is very fortunate that Lloyd will continue as a senior executive of the Company focused on our strategic planning process.”

Turner continued, “We are confident that John Breda will serve the Company’s shareholders, customers and employees exceptionally well as CEO. John’s leadership and banking experience will be critical to the Company’s strategic planning process and then to executing on that strategic plan.”