CLINTON — CFB Holding Company, the parent organization for Citizens First Bank, held its annual shareholders’ meeting Feb. 21, at the bank’s main facility at 1442 Lincoln Way in Clinton.
Board of Directors Chairman John McEleney welcomed all in attendance. McEleney shared an overview of the initiatives undertaken in 2017 and ongoing for 2018. He recognized Tom Soenksen, who recently retired from his position as CEO of CFB Holding Company. Soenksen was a founding member of the bank and served as bank President and CEO from 2000 to 2015, subsequently stepping into the role of CEO of CFB Holding company.
Kathryn A. Forrest, president and CEO, Citizens First Bank, presented financial and operational results of the bank for the fiscal year ended Dec. 31, 2017. She noted the bank has consistently operated under controlled growth of approximately 5 percent the last several years. She noted the bank finished the year at almost $197 million in assets, $165 million in deposits and $169 million in loans.
“We are very much looking forward to reaching $200 million in assets; that will be an important milestone for all of us at Citizens First,” Forrest commented.
McEleney and Forrest reported on the holding company’s strategic plan initiatives. They noted opportunities for future growth and impacts on shareholder return.
The following appointments, changes, and associated titles were approved at the meeting:
n Stephen Clements was promoted to Senior Vice President — Senior Loan Officer, effective Oct. 1, 2017.
n Keith Hook was promoted to Senior Credit Officer effective Oct. 1, 2017.
n Gary L. Foster, Winkel, Parker & Foster, joins the board of directors. Foster brings a wealth of knowledge and experience to the board.
In addition to the above named appointments, the following key officers were also appointed for another year:
Kathryn A. Forrest, president and CEO; Barbara A. Olsen, Sr. VP Deposits; Susan M. Vogel, VP Financial Systems (Cashier); Emily J. Schulz-Stiles, VP Human Resources; Heather Farwell, VP Operations/ Compliance; Gregory B. Farwell, VP Real Estate Lending; Edward J. Dunham, VP Real Estate & Consumer Lending; Lori L. Welsh, Loan Officer; Georgia E. Cook, Loan Administration Officer; Laura L. Gassman, Operations Officer; Judith A. Leonard, Retail Banking Officer; Evan R. Trenkamp, Loan Officer; Kristine E. Wiersema, Loan Officer; and Mary Temple, Branch Officer.
“All of these employees have been instrumental in the success of the bank and vital to sustaining that in the future,” commented Forrest.
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.