The East Stroudsburg, Pennsylvania-based activist investor also mentioned reports of bank CEO Greg Oakes’ retirement at the end of the year and the apparent absence of a viable succession plan. Since issuing the letter, he said he had been contacted by other supportive Cashmere Valley shareholders. Cashmere Valley Bank has the largest deposit market share in three of the four counties it operates in, where it’s “the only true community bank left that could realistically be acquired,” Rinschler said. UBAB is another bank that’s “growing up and getting a broader shareholder base and is having to adapt to these situations,” said Sam Haskell, who manages financial sector-focused investment firm Colarion and previously owned shares of Cashmere Valley Bank. “I think they want it to be kept as a community bank, so there's a tension there,” Haskell said of Cashmere Valley Bank’s board.