Stilwell Group plans to vie for two board seats at Central Plains Bancshares in Grand Island, Neb.
Central Plains disclosed in a regulatory filing that the activist investor also plans to present a proposal at the next annual meeting that would require the company to buy back at least 10% of its outstanding common stock every year in which the stock trades below book value per share.
Subsequently, the company added one of Stilwell’s proposed nominees, Francis Younes, to its board.