Citizens First Bank Announces 2018 Results and Appointments at Annual Shareholders’ Meeting
CFB Holding Company, the parent organization for Citizens First Bank, held its annual shareholders’ meeting Wednesday, February 20, 2019, at the bank’s main facility at 1442 Lincoln Way in Clinton.
Board of Directors Chairman, John McEleney, welcomed the shareholders and provided a strategic overview. He commended the leadership team for their continued efforts to execute on the bank’s strategic plan. In particular, he thanked Barb Olsen for her 19 years of service; approaching her retirement on March 1, 2019.
Kathryn A. Forrest, President and CEO, Citizens First Bank, presented financial and operational results of the bank for the fiscal year ended December 31, 2018. She noted the bank reached the milestone of $200 Million in average assets in 2018, while also achieving strong financial performance in terms of shareholder returns with an ROA of 1.14 and ROE of 12.00.
"We are pleased to see CFB’s continued growth as we follow our mission to become our communities’ premier bank by putting customers first,” Forrest commented. “It is through a concerted team effort that Citizens First has been able to sustain its growth and provide excellent service.”
McEleney and Forrest provided insight on strategic plan initiatives and budget for 2019. They noted growth and financial performance are anticipated to continue on a favorable trajectory.
The following appointments, changes, and associated titles were approved at the meeting:
In addition to the above named appointments, the following key officers were also appointed for another year:
Kathryn A. Forrest, President and CEO; Keith D. Hook, Senior Credit Officer; Stephen C. Clements, Senior VP, Senior Loan Officer; Susan M. Vogel, VP Financial Systems (Cashier); Emily J. Schulz-Stiles, VP Human Resources; Heather Farwell, VP Compliance; Gregory B. Farwell, VP Real Estate Lending; Lori L. Welsh, Loan Officer; Georgia E. Cook, Loan Administration Officer; Laura L. Gassman, Operations Officer; Kristine E. Wiersema, Loan Officer; and Mary Temple, Branch Officer.
Directors appointed for the coming year were: John P. McEleney, McEleney Holdings LLC; Charles Armstrong, Ruhl & Ruhl; Greg Baker, Bacor, Ltd.; Mary P. Connell, Air Control; Richard W. Farwell, Farwell & Bruhn; Robert B. Holesinger, Quality Concrete Company; Steve L. Howes, Howes & Jefferies; Mike R. Hanrahan, AgriKing; Gary L. Foster, Winkel, Parker & Foster; Kathryn A. Forrest, Citizens First Bank.
- Eddie Dunham has been promoted to Vice President of Business Development. Eddie has been with the bank since 2009, and has continued to take on increased responsibilities.
- Evan Trenkamp has been promoted to Vice President of Agriculture and Commercial Lending. Evan has been with the bank since 2014 and continues ongoing bank schooling.
- Shauna Bellich was named Vice President of IT and Operations. Shauna recently joined the Citizens First Bank staff, and brings with her 14 years of experience in banking including Operations, IT, BSA, HR and Finance. She has a Bachelor of Science degree in Computer Science from the University of Wisconsin – Platteville, and is currently pursuing her MBA from Western Illinois University.