On May 19, 2021, the Board of Directors of William Penn Bancorporation and its wholly owned subsidiary, William Penn Bank approved the promotion of Jonathan T. Logan, Senior Vice President and Chief Financial Officer of the Company and the Bank, to Executive Vice President and Chief Financial Officer of the Company and the Bank, effective immediately. On May 19, 2021, the Company and the Bank entered into a Separation and Release Agreement with Gregory S. Garcia. As previously disclosed, the Executive resigned as Executive Vice President and Chief Operating Officer of the Company and the Bank effective as of May 19, 2021.