The Hancock-Henderson Quill, Inc.
The Bank of Stronghurst held its Annual Stockholders meeting Tuesday, March 12, 2019, at St. Patrick Community Center, near Raritan.
Approximately 83 stockholders and guests attended the 12:30 p.m. luncheon buffet and meeting.
Stacie Newberry, President and C.E.O., led the stockholders and guests in the Pledge of Allegiance. The invocation was given by Joshua DeSotel.
At approximately 1:30 p.m. the meeting was opened by George Hennenfent, Chairman.
David Knutstrom, Jerame Cokel and Chad Scott served as judges. Brenda Brokaw was secretary.
The chairman called on Joshua DeSotel, Executive Vice President and Cashier for his financial report. Mr. DeSotel reported that the bank enjoyed another profitable year with net income after taxes of $393,769.91. Total Capital and Reserves ended the year at $11,416,491.26. Mr. Desotel ended the report stating that with the bank's excellent capital position, strong management team and loyal customers and shareholders, the Bank of Stronghurst looks forward to another year of profitability and growth.
Chairman Hennenfent then called on Charlie Ford, Vice President & Farm Loan Officer to report on the bank's loan portfolio. Mr. Ford reported continued loan growth during 2018 and he shared the breakdown of the loan categories. Mr. Ford indicated that with our competitive rates, we look forward to additional loan growth in 2019.
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 Charles Vaughn and seconded by William Waddill to accept the 2018 stockholder minutes as presented. The motion unanimously carried.
Judges for the meeting, David Knutstrom, Jerame Cokel and Chad Scott, reported 1,893 shares of stock represented in person and 2,703 shares represented by proxy, making a total of 4,596 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 Jerame Cokel and seconded by Sara Nimrick, that the present directors be nominated for the coming year, close the nominations and that a unanimous ballot be cast to elect the nominees. The motion unanimously carried. The directors for the coming year will be:
George Hennenfent, Charles Neff, Jerry Keimig, Cheryl Waddill, Stacie Newberry, Rodney Brake and Byron Burg
Chairman Hennenfent called on Brenda Brokaw and Sandra Ford to conduct a drawing for door prizes. Winners of the drawing were as follows:
Fresh floral centerpieces: Bonnie Hensley, Kathy Keimig, Phillip Anders
US Mint proof coin sets: Elaine White and Shirley Kane
Gift basket of specialty items: Chuck Vaughn, David Knutstrom, Roger Hofland
Mr. Hennenfent then asked for a motion to adjourn the meeting. A motion was made by Bonnie Hensley to adjourn the meeting. The motion was seconded by Nancy Kane and unanimously passed.
Following the Annual Stockholders meeting, Tuesday, March 12, 2019, the newly elected Board of Directors of the Bank of Stronghurst met at the banking house for the organizational meeting.
The Officers for 2019 were appointed as follows:
George Hennenfent, Chairman of the Board
Stacie Newberry, President and CEO
Joshua DeSotel, Executive Vice President & Cashier
Charlie Ford, Vice President and Farm Loan Officer
Brenda Brokaw, Assistant Cashier
Sandra Ford, Assistant Vice President
Shelley Morrison, BSA Officer
Barb Logan, Branch Manager
Wyatt Logan, Loan Officer
Brenda Brokaw, Secretary of the Stockholder's Meeting 3/12
George Hennenfent, attorney and Chairman of the Board at the Bank of Stronghurst is master of ceremonies for their annual Stockholders meeting held March 7th at St Patrick's Community Center, Raritan.
-photo by Larry Louden