Citizens First Bank Announces 2020 Results and Appointments at Annual Shareholders’ Meeting
John McEleney, Chairman of the Board of Directors, provided his overview and insights to the bank’s directors, senior management, and shareholders. He commented on Citizens First’s ability to continue its growth and praised current business development initiatives.
Kathryn A. Forrest, President and CEO, Citizens First Bank, presented financial results of the bank for the fiscal year that ended December 31, 2020. She noted the bank accomplishments over the past year, and reported positive returns for shareholders, with an ROA of .93 and ROE of 10.58. Year-end financials for 2020 indicate Citizens First Bank assets of $267.8 million, a marked increase from $214.1 in assets the prior year.
Forrest stated, "The board and management continues to be pleased with the progress and growth of Citizens First Bank. Even with the challenges of the pandemic, we have been able to accomplish our goals and maintain steady growth. Our investment in technology and training is ongoing and complements our digital roadmap and commitment to our customers.”
Additionally, McEleney and Forrest provided their thoughts on the work plan and budget for 2021.
The following officer appointments and title changes were announced:
Kathryn A. Forrest, President and CEO; Keith D. Hook, Senior Credit Officer; Stephen C. Clements, Executive VP; Emily J. Schulz-Stiles, VP Human Resources / Board Secretary; R. Heather Farwell, VP Deposits & Compliance; Shauna H. Bellich, VP – IT/ Operations, Cashier; Gregory B. Farwell, VP Real Estate Lending; Edward J. Dunham, VP – Business Development; Evan R. Trenkamp – VP – Senior Lender; Georgia E. Cook, VP Loan Administration; Laura L. Gassman, Operations & BSA 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, retired from Farwell & Bruhn; Robert B. Holesinger, Quality Concrete Company; Steve L. Howes, Howes & Jefferies; Mike R. Hanrahan, Agri-King; Gary L. Foster, Winkel, Parker & Foster; Ryan J. Kinkaid, Evonik Corporation; Jens Baker, Apex Construction Consultants; Kathryn A. Forrest, Citizens First Bank.
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.
Photo: Citizens First Bank Officers: front row from left to right: Stephen Clements, Bank President & CEO Kathy Forrest, Keith Hook. Second row: Mary Temple, Heather Farwell, Emily Stiles, Kristine Wiersema. Back row: Laura Gassman, Evan Trenkamp, Shauna Bellich, Greg Farwell, Georgia Cook and Eddie Dunham.