The Hancock-Henderson Quill, Inc.
By: Mindy Jones, Secretary of the Stockholder’s Meeting
The Bank of Stronghurst held its annual Stockholders meeting, Tuesday, March 11, at St. Patrick Community Center, near Raritan.
Approximately 75 stockholders and guests attended the 12:30 p.m. luncheon buffet and meeting.
George Hennenfent, Chairman extended greetings to stockholders and guests.
Sandra Ford, Vice President led the stockholders and guests in the Pledge of Allegiance.
The invocation was given by Stacie Newberry.
At approximately 1:30 p.m. the meeting was opened by George Hennenfent, Chairman. David Knutstrom, Chad Scott and Jerame Cokel served as Judges. Mindy Jones was Secretary.
After President Newberry welcomed shareholders and guests, Brenda Brokaw was recognized for her years of service with the bank and appreciation for organizing the stockholders’ meeting for the previous eleven years.
Mrs. Newberry discussed the banking outlook for the year along with current fraud trends. President Newberry ended her address by thanking the shareholders for their continued support.
Chairman Hennenfent called on Jacob Thompson, Vice President and Cashier, for his financial report. Mr. Thompson reported that the Bank enjoyed another profitable year with net income after taxes of $95,653.13. Mr. Thompson ended his 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.
Jacob Thompson, Farm Loan Officer then reported on the Bank’s loan portfolio. Total loans were $37,868,645 at year-end 2024 compared to $38,010,229.56 as of year-end 2023. As stated by Mr. Thompson, all real estate loans make up 64.36% of the bank’s loan portfolio and loans to farmers (both real estate and commercial) total 22.46% of the loan portfolio. Mr. Thompson indicated that with our competitive rates, we look forward to continual loan growth in 2025.
Each stockholder was given a copy of the minutes of last year’s meeting. Chairman Hennenfent asked for a motion to approve the minutes. A motion was made by Frank Doyle and seconded by Jean Steck to accept the 2024 stockholder minutes as presented. The motion unanimously carried.
Judges for the meeting, David Knutstrom, Chad Scott, and Jerame Cokel reported 1,742 shares of stock represented in person and 1,880 shares represented by proxy, making a total of 3,622 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 Knutstrom and seconded by Bonnie Hensley, 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:
Chairman Hennenfent called on Mindy Jones and Sandra Ford, to conduct a drawing for door prizes. The winners of the drawing were as follows:
Chairman Hennenfent then asked for a motion to adjourn the meeting. A motion was made by Jean Steck to adjourn the meeting. The motion was seconded by Frank Doyle and unanimously passed.
Following the Annual Stockholders Meeting, Tuesday, March 11, the newly elected Board of Directors of the Bank of Stronghurst met at the banking house for the Organizational Meeting.
Front Row (L to R): Stacie Newberry, Byron Burg, Cheryl Waddill; Back Row (L to R): Jerry Keimig, Charles Neff, Rodney Brake, George Hennenfent
Bank of Stronghurst Senior Officers Stacie Newberry, Jacob Thompson, Sandra Ford