The Hancock-Henderson Quill, Inc.
Approximately 75 stockholders and guests attended the 2006 annual stockholders meeting and luncheon of the Bank of Stronghurst Tuesday, January 24 at Country Fun Restaurant near Biggsville.
Charles E. Vaughn, President and C.E.O., led stockholders and guests in the Pledge of Allegiance. Chairman of the Board, George Hennenfent, welcomed the stockholders and guests, and the invocation was given by board member Kenneth Nimrick.
George, Hennenfent, Chairman of the Meeting, introduced the other officers of the meeting. They were Robert Dillon, Mitchell Cortelyou and Ronald Stamp, Judges. Marlene Knutstrom was secretary.
Vice President and Cashier, Rodney Brake gave the financial report. "2005 was a year of growth and expansion," he said. "The bank experienced record year-end loan, deposit and investment totals."
The bank opened another new branch in Little York, in the former First State Bank of Little York building. After major remodeling, the branch opened for business on Monday, April 4, 2005.
Jerry Keimig, Vice President and loan officer, reported on the banks's loans. He reported total loans at year end 2005 of $18.1 million.
"This was an increase of approximately 10.4% over 2004," Mr. Keimig said. He explained the breakdown of the loans to the stockholders as follows: 65% ag related, with commercial, individual and other real estate loans making up the balance. He reported the present loan/deposit ratio as 35% and loan/asset ratio as 29%. He closed by stating, "Although loan competition remains very strong, the bank continues to strive for growth."
There were 3,704 shares of stock represented in person and 1,456 shares represented by proxy, making a total of 5,160 shares represented. Chairman George Hennenfent declared a quorum present for transaction of business.
The following directors were elected for 2006:
Sidney L. Dowell, George Hennenfent, Charles E. Neff, Kenneth Nimrick, Charles E. Vaughn, Rodney Brake and William Waddill.
Marlene Knutstrom conducted a drawing for door prizes and fresh floral arrangements. The winners were:
Agnes Shaner, Tom Edmonds - fresh floral arrangements,
Lois Campbell, Willa Covert - one gallon thermos jugs,
Norma Harden, Irene Grabau - 2005 U.S. coin proof sets.
A motion to adjourn was made by Bonnie Hensley and seconded by Duane Harden, and carried unanimously. The meeting was adjourned at 1:57 p.m.
2006 Bank OF STRONGHURST
Following the annual stockholders meeting, January 24, the newly elected Board of Directors of the Bank of Stronghurst met at the bank for their organizational meeting. Officers were appointed for 2006 as follows:
George Hennenfent Chairman
Charles Vaughn President and C.E.O
Jerry Keimig Senior Vice President and Farm Loan Officer
Rodney Brake Executive Vice President Cashier
Gary Kline Vice President
Shawn McKoon Vice President
Jane Malcolm Assistant Vice President
Stacie Newberry Assistant Vice President
Josh DeSotel Loan Officer
Marlene KnutstromExecutive Secretary
Bank of Stronghurst Board Of Directors elected for 2006 are from left:
Front row: William Waddill, Charles E. Vaughn, Kenneth Nimrick, and Sidney Dowell.
Back row: Rodney Brake, George Hennenfent, and Charles E. Neff.