The Hancock-Henderson Quill, Inc.
The Bank of Stronghurst held its Annual Stockholders Meeting Tuesday, March 8, 2022 at St. Patrick Community Center, near Raritan, IL. Approximately 75 stockholders and guests attended the 12:30 P.M. luncheon buffet and meeting.
Stacie Newberry, President & CEO, led the stockholders and guests in the Pledge of Allegiance. The invocation was given by Joshua DeSotel.
At approximately 1:39 P.M. the meeting was opened by George Hennenfent, Chairman. David Knutstrom, Jerame Cokel, and Chad Scott served as Judges. Brenda Brokaw was Secretary.
George Hennenfent, Chairman called on Stacie Newberry, President & CEO for her opening remarks. Mrs. Newberry discussed how the staff had shown great resilience to the challenges that all community banks have faced in the last couple of years. Mrs. Newberry ended her remarks by stating that remaining accessible, responsive, and accountable to our customers will allow us to be a strong community bank for years to come.
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 $358,331.57. Total Equity Capital ended the year at $12,655,069.01. 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 shared a breakdown of the loan categories and indicated that with our competitive rates, we look forward to additional loan growth in 2022.
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 Jim Blender and seconded by Norman Menzenberg to accept the 2021 stockholder minutes as presented. The motion unanimously carried.
Judges for the meeting, David Knutstrom, Jerame Cokel and Chad Scott reported 961 shares of stock represented in person and 2,821 shares represented by proxy, making a total of 3,782 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 Chad Scott and seconded by Charles Vaughn 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, Byron Burg
Chairman Hennenfent called on Brenda Brokaw, Sandra Ford and Shelley Morrison to conduct a drawing for door prizes. Winners of the drawing were as follows:
Fresh floral centerpieces Rhonda Blender, Merlin Foresman, and Joe Hutson
Gift basket of specialty items Doris Armstrong, Virginia Larsen, Garland Lefler and Don Fry
Hanging glass globe Norman Menzenberg
“Things as I Remember Them” history book by Zach Stamp Daniel Kane
Mr. Hennenfent then asked for a motion to adjourn the meeting. A motion was made by Charles Vaughn to adjourn the meeting. The motion was seconded by Dessa Rodeffer and unanimously passed.
Following the Annual Stockholders Meeting, Tuesday, March 8, 2022, the newly elected Board of Directors of the Bank of Stronghurst met at the banking house for the Organizational Meeting.
The Bank of Stronghurst Officers for 2022 were appointed as follows: George Hennenfent, Chairman of the Board; Stacie Newberry, President and CEO; Joshua DeSotel, Executive Vice President and Cashier; Charlie Ford, Vice President and Farm Loan Officer; Brenda Brokaw, Assistant Cashier; Sandra Ford, Assistant Vice President; Shelley Morrison, BSA Officer; Wyatt Logan, Loan Officer.
Brenda Brokaw
Stockholders Meeting Secretary
March 8, 2022