Pontiac Bancorp, Inc. holds annual meeting
Pontiac Bancorp, Inc., parent company of Bank of Pontiac, experienced another year of solid financial performance in 2023 as reported by Bill Kauffman, Chairman of the Board. The meeting was held on Monday, April 15 at the Pontiac Township High School.
During his address, Kauffman thanked the directors, stockholders, staff, and customers for contributing to the success of Pontiac Bancorp, Inc.
He reported to stockholders that “The past 12 months have been a very successful and busy time for Bank of Pontiac and Pontiac Bancorp, Inc. Along with maintaining our goals of being a community bank providing the latest in banking services, products, and outstanding customer service, many achievements and milestones were accomplished. The milestones included: the bank grew and crossed the one billion dollar mark in total assets; deposits also increased to rank in the top 50 banks by size in the State of Illinois; multiple data processing systems were merged and integrated; three new branches were acquired; and another year of record earnings was achieved. The Executive Management’s leadership, combined with our talented and dedicated team of officers and employees, made the past 12 months a success.”
John Marshall, Pontiac Bancorp President & CEO, reported to the stockholders that “Since the Bank crossed one billion dollars in consolidated assets at the end of the year, it is now subject to additional compliance requirements under the Federal Deposit Insurance Corporation Improvement Act (FDICIA). The bank has added an additional layer of review and audit, adding at least 2 full-time employees. All this is to say, as a shareholder, you should feel confident that your funds are well-protected and your investment in the company is solid.”
Mark Donovan, Bank of Pontiac President & CEO, announced the promotion of Bank of Pontiac employees: Ryan Tartaglia to Senior Vice President, Chief Credit Officer; Amy Brummel to Vice President, Chief Credit Policy Officer; Nicolle Albrecht to Vice President, Underwriter; Braden Ifft to Assistant Vice President, Ag Lending; and Karley Mrozek to Trust Officer.
During his address, Donovan reported to the stockholders that “Loans grew to $749,496,715. Total assets increased to $1,015,741,875, and stockholder equity ended the year at $109,475,414. Total earnings for the year stood at $11,728,101 or $56.75 per share”. 2023 was the strongest financial year in the bank’s 76-year history. Despite facing unprecedented challenges and market fluctuations, the bank achieved remarkable growth and stability across all key performance metrics. Through strategic planning, innovation, and the dedication of our exceptional team, we surpassed expectations and set new benchmarks for success. In closing, asset quality, liquidity, and capital levels remain strong. The successes of 2023 have left us inspired to continue pushing innovation, driving sustainable growth, and delivering value to our shareholders.”
At the organizational meeting held after the meeting of stockholders, the election and re-election of directors and officers took place. Directors re-elected or newly elected to the Pontiac Bancorp & Bank of Pontiac boards were: Bill Kauffman, Chairman of the Board; Mark Donovan, Courtney Farrell, Daniel Gschwendtner, Stuart Hoselton, John Marshall, Mark Steffen, and Douglas Swartz.
Pontiac Bancorp officers re-elected or newly elected were: Bill Kauffman, Chairman of the Board; John Marshall, President & CEO; Mark Donovan, Vice President; Chris Clement, Secretary; and Michelle Schultz, Treasurer.
Officers re-elected or newly elected for Bank of Pontiac were: Bill Kauffman, Chairman; Mark Donovan, President & CEO; John Marshall, Executive Vice President, Senior Trust Officer; Bob Meiner, Executive Vice President, Chief Operations Officer; Chris Clement, Executive Vice President, Chief Ag Services and Information Officer & Assistant Trust Officer; Doug Durham, Senior Vice President, Chief Risk Officer; Michelle Schultz, Senior Vice President, Chief Financial Officer; Joseph Conroy, Senior Vice President, Chief Lending Officer; Ryan Tartaglia, Senior Vice President, Chief Credit Officer; Tina Trevino, Vice President, Chief Investment Officer & Asset Liability Analyst; Amy Brummel, Vice President, Chief Credit Policy Officer; Kate Fortner, Vice President, Chief Retail Banking Officer; Troy Harms, Vice President of Real Estate Lending; John Bowman, Vice President of Information Technology; Jean Rabe, Vice President of Lending & Branch Manager of Fairbury; Andrew Weber, Vice President of Lending; Ann Scholtes, Vice President, Marketing; Seth McCoy, Vice President, Loan Administration; Steven Timmermann, Vice President, Lending; Brenda Henderson, Vice President, Assistant BSA Officer; Michael Turner, Vice President, Ag Lending; John Mendoza, Vice President, Commercial Lending; Nicolle Albrecht, Vice President, Underwriter; Rhys Meiner, Vice President, Lending; Jenn Ullrich, Vice President, Retail Banking Officer; Nancy Hofer, Vice President, Lending & Branch Manager of Paxton; Rebecca Hendershott, Vice President, Operations; David Hammer, Trust Officer; Carla Corrie, Trust Officer; Karley Mrozek, Trust Officer; Becki Lanzara, Assistant Vice President, Branch Manager of Delavan; Amy Crump, Assistant Vice President, Branch Manager of Minier; Mary Beth White, Assistant Vice President, Lending; Daniel Corrigan, Assistant Vice President, Lending; Rebecca Lee, Assistant Vice President, Lending; Braden Ifft, Assistant Vice President, Ag Lending; Colton Fieldman, Loan Officer; Danielle Thompson, Loan Officer; Patricia Wilson, Loan Officer; and Olivia Dexter, Loan Officer.
Advisory Directors re-appointed or newly appointed for the Odell, Dwight and Coal City Branches were: Nicolle Albrecht, Chris Clement, Mark Donovan, Thomas Doran, Kate Fortner, Diane Jensen, John Marshall, Daniel Mehochko, Jim Rebholz, and Laurie Turner.
Advisory Directors re-appointed or newly appointed for the Fairbury and Forrest Branches were: Chris Clement, Mark Donovan, Rob Duffy, Kate Fortner, Troy Harms, John Marshall, Jean Rabe, and Jennifer Stuckey.
Advisory Directors re-appointed or newly appointed for the Bloomington, Minier and Delavan Branches were: Jeff Bressner, Chris Clement, Amy Crump, Mark Dekeersgieter, Mark Donovan, Kate Fortner, Thomas Hundman, Becki Lanzara and Steve Timmermann.
Advisory Directors newly appointed for the Paxton, Piper City and Melvin Branches were: Kevin Bachman, Savanna Brown-Gebauer, Chris Clement, Stephanie Cole, Mark Donovan, Kate Fortner, Nancy Hofer and Alaina Kief.
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