The largest shareholder at HopFed Bancorp in Hopkinsville, Ky., is calling on the company's president and chief executive to resign.
Stilwell Group in New York, in a
"It seems to me you have little regard, value or respect for shareholders," Megan Parisi, Stilwell Group's director of communications, wrote in the Nov. 21 letter. "You have utterly failed to earn our trust. Maybe your next letter should be a resignation – then we'd be the ones with something to smile about."
Peck, who gave no indication that he would resign, said in an interview that the letter represents "repeated rhetoric" from the activist investor.
Stilwell Group, which owns 9.5% of HopFed's stock, has locked horns with the company in the past. In 2013, the firm sent a letter of HopFed's shareholders
Stilwell was able to get a representative, Robert Bolton, appointed to HopFed's board. Bolton's term expired in May and Stilwell "did not nominate or support him for reelection," Peck said.