ATLANTA, April 6, 2007 (PRIME NEWSWIRE) -- NetBank, Inc. (Nasdaq:NTBK) today announced the passing of board member Robin C. Kelton on Monday April 2, 2007, in London, UK. Kelton, who was 72, had served on the NetBank, Inc. Board of Directors since 1997. He was chairman of the investment banking firm of Kelton International Ltd. which he formed in 1995.
"Robin was a tremendous resource for NetBank because of his depth of knowledge of the financial services industry and experience in the U.S. and abroad. It was an added benefit that he was such a pleasure to work with," said NetBank, Inc. chairman Thomas "Thos" Muller, Jr., who served with Kelton on the company's board for 10 years. "His wisdom and wit were always welcomed in our planning and decision-making. We will miss his enthusiasm for our business and the friendship he freely shared."
Kelton founded the international investment banking firm Fox-Pitt, Kelton in 1970 where he was chairman and CEO. He served on the boards of several other companies including Directo, Findlay Park, Eagle & Dominion and Thomas Murray. He was also executive chairman of FCC, the company developing the island of St Lucia's offshore centre.
There are no current plans to replace Mr. Kelton on the board, but as provided in the company's bylaws, the remaining members of the board may appoint a replacement to serve until the end of his original term, which expires at the company's annual meeting in 2009.
About NetBank, Inc.
NetBank, Inc. (Nasdaq:NTBK) is a financial holding company that operates a family of businesses focused primarily on consumer and small business banking, as well as conforming mortgage lending.
The company's businesses have a shared value proposition of providing consumers in select markets an attractive combination of price, service and experience through skilled associates and advanced technology systems. Retail brands include NetBank and Market Street Mortgage. For more information, please visit www.netbankinc.com.