PAOLA, Kan., June 11, 2008 (PRIME NEWSWIRE) -- Institutional Shareholder Services (ISS), the world's leading provider of corporate governance and proxy voting services, has made a recommendation that shareholders vote for the slate of directors nominated by Team Financial, Inc., (the "Company"), (Nasdaq:TFIN) rather than those nominees presented by a dissident shareholder. Glass-Lewis & Co., another world-wide provider of independent research and recommendations to shareholders, has also made a similar recommendation.
ISS noted that the Company has been responsive in addressing capital needs, loan loss reserves, and has been proactive in establishing cost savings. "We are extremely pleased with the recommendations of these two very respected, independent reports. These reports should assure our shareholders of the Board's ability to lead the Company and that the Company is proactively addressing restoring shareholder value," stated Robert Weatherbie, Chairman and Chief Executive Officer of the Company.
Both independent reports point to a lack of an actual plan for improvement from the dissident shareholder, and note that the claims of excessive executive pay are unwarranted, that in fact, the Company's compensation is in-line with that of its peers.
Both reports note hesitations to recommend two former directors on the dissident's slate whose presence on the Board did not add shareholder value the first time around. The Company's annual meeting of shareholders is set for Tuesday, June 17, 2008.
IMPORTANT INFORMATION AND WHERE TO FIND IT
In connection with its 2008 Annual Meeting, Team Financial, Inc. has filed a definitive proxy statement, WHITE proxy card and other materials with the U.S. Securities and Exchange Commission ("SEC"). WE URGE INVESTORS TO READ THE PROXY STATEMENT AND THESE OTHER MATERIALS CAREFULLY WHEN THEY BECOME AVAILABLE, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT TEAM FINANCIAL, INC. AND THE MATTERS TO BE CONSIDERED AT ITS ANNUAL MEETING. Investors may contact Robert J. Weatherbie at (913) 294-9667 or by email at bob.weatherbie@teamfinancialinc.com. Investors may also obtain a free copy of the proxy statement and other relevant documents as well as other materials filed with the SEC concerning Team Financial, Inc. at the SEC's website at http://www.sec.gov. These materials and other documents may also be obtained for free from: Secretary, Team Financial, Inc., 8 West Peoria, Suite 200, Paola, Kansas 66071 (913) 294-9667.
CERTAIN INFORMATION REGARDING PARTICIPANTS IN THE SOLICITATION
Team Financial, Inc. and its directors are, and certain of its officers and employees may be deemed to be, participants in the solicitation of proxies from Team Financial's stockholders with respect to the matters considered at the Team Financial, Inc. 2008 Annual Meeting. Information regarding these directors, and these certain officers and employees, is included in the definitive proxy statement on Schedule 14A filed with the SEC on April 28, 2008. Security holders can also obtain information with respect to the identity of the participants and potential participants in the solicitation and a description of their direct or indirect interests, by security holdings or otherwise, for free, by contacting: Secretary, Team Financial, Inc., 8 West Peoria, Suite 200, Paola, Kansas 66071 (913) 294-9667. More detailed information with respect to the identity of the participants, and their direct or indirect interests, by security holdings or otherwise, has been and will be set forth in our definitive proxy statement and other proxy related materials to be filed with the SEC in connection with the Team Financial, Inc. 2008 Annual Meeting.
The Team Financial, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=5145
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties that could cause actual results to differ materially from historical income and those presently anticipated or projected. The Company cautions readers not to place undue reliance on any such forward looking statements, which speak only as of the date of this release. Such risks and uncertainties include those detailed in the Company's filings with the Securities and Exchange Commission, risks of adverse changes in results of operations, risks related to the Company's expansion strategies, risks relating to loans and investments, including the effect of the change of the economic conditions in areas the Company's borrowers are located, risks associated with the adverse effects of governmental regulation, changes in regulatory oversight, interest rates, and competition for the Company's customers by other providers of financial services, all of which are difficult to predict and many of which are beyond the control of the Company.