MB Bancorp, Inc. (the Company) the holding company for Madison Bank of Maryland (the Bank), announced that it has parted ways with President and Chief Executive Officer Julia A. Newton and has appointed Philip P. Phillips as President and Chief Executive Officer of the company and the Bank effective September 30, 2016. Ms. Newton has resigned as a director of the company and the bank effective October 25, 2016, and Mr. Phillips has been appointed to the Boards of Directors of the company and the Bank effective that same date.