The Hancock-Henderson Quill, Inc.
The Bank of Stronghurst held its Annual Stockholders meeting Tuesday, March 10, 2015, at St. Patrick Community Center, near Raritan. Approximately 89 stockholders and guests attended the 12:30 p.m. luncheon buffet and meeting.
Charles Schumacher, President and C.E.O., led the stockholders and guests in the Pledge of Allegiance. The invocation was given by Joshua DeSotel.
At approximately 1:40 p.m. the meeting was opened by George Hennenfent, Chairman. Sidney Dowell and Jane Malcolm served as Judges. Brenda Brokaw was Secretary.
The chairman called on Stacie Newberry, Vice President and Cashier, for her financial report. Mrs. Newberry reported that the Bank of Stronghurst focused on restructuring the investment portfolio in 2014 in anticipation of rising rates. She noted that Capital had increased to $11,526,966.41 at year-end 2014. She also stated that Net Income before taxes was $351,327.19. Mrs. Newberry also reported on the additional services added at the Dallas City branch in 2014.
In closing, she stated that uncertainty remains as to when the Fed will begin raising rates but with our strong capital position, continued conservative banking philosophy and loyal customers and stockholders, the Bank of Stronghurst looks forward to a year of profitability and growth in 2015.
Chairman Hennenfent then called on Charles Schumacher, President and CEO to report on the Bank's loan portfolio. Mr. Schumacher reported to the shareholders the percentage of loans and dollar amounts by category. He closed his report by stating that we have a staff of loan officers with over sixty years of service to serve the public and we will continue to work hard to serve our present customers and to attract new customers.
Each stockholder was given a copy of the minutes of last year's meeting. The chairman asked for a motion to approve the minutes. A motion was made by Jay Stevenson and seconded by Tom Edmonds to accept the 2014 stockholder minutes as presented. The motion unanimously carried.
Judges for the meeting, Sidney Dowell and Jane Malcolm, reported 2,412 shares of stock represented in person and 2,619 shares represented by proxy, making a total of 5,031 shares represented. Chairman Hennenfent then declared a quorum present for the transaction of business.
Chairman Hennenfent called for the Election of Directors for the coming year. A motion was made by David Vancil Sr. and seconded by Pauline Oge, that the present directors be nominated for the coming year and that a unanimous ballot be cast to elect the nominees. The motion unanimously carried. The directors for the coming year will be:
Charles E. Neff
W. William Waddill
Charles E. Vaughn
Chairman Hennenfent called on Brenda Brokaw to conduct a drawing for door prizes. Winners of the drawing were as follows:
Fresh Floral Centerpieces:
2014 US Mint Proof Coin Sets:
Gift Basket of Specialty Items:
Mr. Hennenfent then asked for a motion to adjourn the meeting. A motion was made by Sidney Dowell to adjourn the meeting. The motion was seconded by Erin Anderson and unanimously passed.
Following the Annual Stockholders meeting, Tuesday, March 10, 2015, the newly elected Board of Directors of the Bank of Stronghurst met at the banking house for the Organizational Meeting.
The Officers for 2015 were appointed as follows:
George Hennenfent, Chairman of the Board
Charles Schumacher, President and C.E.O.
Stacie Newberry, Vice President & Cashier
Josh DeSotel, Vice President
Shawn McKoon, Vice President
Brenda Brokaw, Assistant Cashier
Brenda Brokaw Secretary of the Stockholder's Meeting March 10, 2015