BankORION Announces Annual Shareholders Meeting
March 26, 2018
BankORION Announces Annual Shareholders Meeting2017 was a year of record earnings.
Orion, IL, March 23, 2018: The 127th annual meeting of the shareholders of Orion Bancorporation, Inc. was held on Monday, March 19, 2018 at The Quad City Botanical Center, Rock Island.
President and CEO Matthew P. Bollinger informed stockholders that during 2017, assets grew to $442 million. The company ended the year with $262 million in outstanding loans, an increase of 9%. Total equity capital amounts to $51 million up 7% from 2016. 2017 was a year of record net income, partially the result of favorable loan growth and relatively low loan losses.
Bollinger reviewed progress made on a number of topics including the bank’s record earnings, strategic initiatives, the investment division, InvestORION, and new technologies.
The board of directors of BankORION and its parent company, Orion Bancorporation, Inc. announced the retirement of Howard W. Nightingale from the board of directors. DeAnne C. Bloomberg was appointed to fill the open board of directors’ position. The board of directors also promoted Daniel J. Cusack to Vice President and Information Systems Officer as well as Jeremy T. Lewison to Loan Operations Officer.
Howard Nightingale served on the board of directors for BankORION and Orion Bancorporation, Inc. since his appointment on March 16, 1992. DeAnne Bloomberg’s background includes more than 25 years of service to the agriculture industry and is the Manager of the Rock Island County Farm Bureau. Dan Cusack joined BankORION in 2008 and has over 20 years of experience in information systems. Jeremy Lewison, joined BankORION in 2006 as a Loan Data Processor and has over 15 years of banking experience.
The shareholders re-elected James R. Dingman, Alan F. Wright and Daniel J. Wahlheim to the board of directors for three-year terms. Other directors include, Matthew P. Bollinger, Timothy J. Fritz, Matthew N. Miller, Charles H. Langman and Jerry L. Goddard.
The board re-appointed the following other BankORION senior officers: Matthew P. Bollinger, President & CEO, Timothy J. Fritz, Senior Vice President & Chief Lending Officer, Cindy S. Bender, Senior Vice President & Chief Financial Officer, Scott A. Gilbraith, Senior Vice President, Larry L. Greim, Vice President & Cashier, Sharon K. Warner, Vice President & Human Resources Director, Andrea A. Bobb, Vice President, Compliance Officer & Internal Auditor, Emily H. Snell, Vice President (Orion), Mark A. Johnson, Vice President (Cambridge), Rex A. Johnson, Vice President (Aledo), Mark L. ‘Butch’ McCreight, Vice President (Moline), Kevin T. Schoonmaker, Vice President & Business Development Director (Moline), Janeane M. Minnaert, Vice President (Annawan), and Barrett C. Scorpil, Vice President (Bettendorf).
Headquartered in Orion, IL, BankORION has over 127 years of experience in financial services. BankORION has seven locations including Orion, Cambridge, Moline, Aledo and Annawan, Illinois as well as Bettendorf, Iowa. To learn more about BankORION, please visit https://www.bankorion.com.
Matthew Bollinger, President & CEO