The Clinton Herald, Clinton, Iowa


March 8, 2014

Strong fourth quarter announced

CLINTON — CFB Holding Company, the parent organization for Citizens First Bank, held its annual shareholders’ meeting Feb. 19, at the bank’s main facility at 1442 Lincoln Way in Clinton. Attendees were welcomed by Board of Directors Chairman Bart Baker.

Tom Soenksen, President and CEO, provided the shareholders news of 13 years of continued growth. Key financial results included assets at year-ending 2013 of $163.8 million, earnings in 2013 of $1.9 million after tax, ROA of 1.8, ROE of 12.09, as well as solid financial performance. He stated that though 2013 continued to be a challenge for the financial services industry, Citizens First Bank held strong once again and remains one of the healthiest banks in Iowa. Accolades went out to the efforts and performance of CFB staff and were shared numerous times during the event.

Soenksen also provided updates concerning the bank’s operations and attendees toured the nearly completed expansion project at the Lincoln Way facility.

“We have grown significantly through a combination of dedication and commitment to community banking, terrific products and services, as well as superior service in Clinton and the surrounding area,” he said. “We now have the additional work space and features upgrades to provide a better work environment for employees and better means to serve our customers.”

He also invited the group to an open house that is planned for the bank’s 14th anniversary in business to be held on March 14 at the Lincoln Way office.

Citizens First Bank executive management also announced the following appointments and election of officers that were approved. Soenksen was reappointed President and CEO and Director of the bank; Kathryn A. Forrest, Executive Vice President; Keith D. Hook, Senior Vice President Lending; Barbara A. Olsen, Sr. Vice President Deposits; Gregory B. Farwell, Vice President Lending; Sherri L. Blohm, Compliance Officer; Rita L. Zeeryp, Vice President Compliance and Business Development; Heather Farwell, Teller Supervisor Officer; Lori L. Welsh, Loan Officer; Georgia E. Cook, Loan Administration Officer; Stephen C. Clements, Loan Officer; Edward J. Dunham, Loan Officer; Jesse H. Mitchell, Credit Review Officer; Laura L. Jeffrey, Operations Officer; Susan M. Vogel, Financial Systems Officer; Judith A. Leonard, Retail Banking Officer. Bart Baker of Frontier Management Corp. will continue to serve as Chairman of the Board of Directors. Other Directors renewing terms on the board include Thomas Kelly, Kelly Heating & Oil; Charles Armstrong, Ruhl & Ruhl; Greg Baker, G. Baker Distributing; Mary Connell, Air Control; Richard Farwell, Farwell & Bruhn; Robert Holesinger, Quality Ready Mix; Steve Howes, Howes & Jefferies; Ronald Kircher, Winkel, Parker & Foster, CPA PC, John McEleney, McEleney Motors, and Mike Hanrahan, AgriKing.

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