It's a dubious distinction, but Oregon's Centennial Bancorp may have won this year's proxy award for candor. The $113 million-asset bank company disclosed that director Harry Rubenstein missed half of its board meetings last year "due to vacation travel."
Mr. Rubenstein is one of just five directors on the board of the Eugene-based company, which was formerly know as Valley West Bancorp.
A Centennial official said that the holding company board meets infrequently, and has no attendance requirement. He added that Mr. Rubenstein met attendance requirements for the monthly board meetings of the company's four-branch lead bank subsidiary, which has 12 directors.