CFB Holding Company, the parent organization for Citizens First Bank, held its annual shareholders’ meeting Wednesday, February 19, 2020, at the bank’s main facility at 1442 Lincoln Way in Clinton.
Board of Directors Chairman, John McEleney, provided his overview and insights to the bank’s directors, senior management and shareholders. He commented on Citizens First’s adherence to a strategic plan that has allowed for steady growth.
Kathryn A. Forrest, President and CEO, Citizens First Bank, presented financial and operational results of the bank for the fiscal year that ended December 31, 2019. She noted the bank achieved record results and strong returns for shareholders, with an ROA of 1.22 and ROE of 12.35.
Forrest stated, "Successful execution of the bank’s strategies resulted in record net income for the bank. As we reflect on all we accomplished in 2019, we eagerly look forward to implementing the strategies before us for 2020; in addition to celebrating our 20th Anniversary.”
McEleney and Forrest provided their thoughts on the work plan and budget for 2020. They noted the bank is celebrating its 20th Anniversary in 2020, which will be marked with a Chamber ribbon cutting on Wednesday, March 18, at 9:30am.
The following officer appointments will be made for another year:
Kathryn A. Forrest, President and CEO; Keith D. Hook, Senior VP - 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; R. Heather Farwell, VP Compliance; Gregory B. Farwell, VP Real Estate Lending; Edward J. Dunham, VP – Business Development; Evan R. Trenkamp – VP Ag & Commercial Lending; Shauna H. Bellich, VP – IT/ Operations; Lori L. Welsh, Loan Officer; Georgia E. Cook, Loan Administration Officer; Laura L. Gassman, Operations Officer; Kristine E. Wiersema, Loan Officer; and Mary L. Temple, Branch Officer.
Directors appointed for the coming year were: John P. McEleney, McEleney Holdings LLC; Charles Armstrong, Ruhl Commercial; 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.
Along with these appointments, Citizens First Bank is happy to announce the addition of Ryan J. Kinkaid to their board of directors. Ryan holds a BS in Biology from the University of Iowa and is a Senior Account Manager, Contract Pharma Manufacturing with the Evonik Corporation. He is an active Camanche resident, enjoying his assistant coaching role with both the Camanche High School Football and Wrestling teams, in addition to his involvement with club wrestling. Ryan brings both business and community experience to the Citizens First Bank Board of Directors.
About Citizens First Bank
Chartered in 2000, Citizens First Bank plays an important role in community banking. Its products provide customers with effective, locally owned banking choices, the latest technology, and services expertise. Headquartered at 1442 Lincoln Way in Clinton, Citizens First Bank also has branches at 403 S Washington Blvd, Camanche and at 1329 N 2nd St, Clinton. This year, Citizens First Bank is happy to be celebrating 20 years of Banking as it should be.