BankORION Announces Annual Shareholders Meeting - March 20, 2023
Orion, IL, March 28, 2023: The 132nd annual meeting of the shareholders of Orion Bancorporation, Inc. was held, on Monday, March 20, 2023 at Bally’s Quad Cities Casino & Hotel, Rock Island, IL.
President and CEO Matthew P. Bollinger informed stockholders the company ended 2022 with another year of record net income. This record net income was the seventh year in a row the company was able to achieve a new record for net income. Total assets ended the year at $613 million, and total stockholders’ equity ended the year at $42.6 million. In addition, total loans and total deposits ended the year, respectively, at $334 million and $528 million.
Bollinger reviewed progress made on a number of topics including the bank’s record earnings, strategic initiatives, the wealth management division, InvestORION, the construction of a new branch in Cambridge, IL, and the progression of technology in banking.
Bollinger announced the retirements of long-time employees Timothy J. Fritz, Senior Vice President & Chief Lending Officer and Mark A. Johnson, Vice President (Cambridge) from the bank in April. Tim joined BankORION on April 1, 1983 as a Farm Representative. His retirement date coincides with his 40th Anniversary with BankORION. Mark joined the bank over 29 years ago in December of 1993 when Peoples National Bank of Cambridge was acquired by BankORION.
The shareholders re-elected Timothy J. Fritz, DeAnne C. Bloomberg and Gerald D. Johnson to the board of directors for three-year terms. Other directors include James R. Dingman, Matthew P. Bollinger, Alan F. Wright, Douglas R. Nelson, Brad Keleher, and Kevin P. Koellner.
The board of directors of BankORION and its parent company, Orion Bancorporation, Inc. also announced the promotions of Grant Redpath, to Commercial Loan Officer, Hannah M. Robinson, to Agricultural and Commercial Loan Officer, Kylie M. Vandersnick to Agricultural & Commercial Loan Officer and Dean M. Kraus to Vice President & Chief Lending Officer.
The board re-appointed the following other BankORION senior officers: Matthew P. Bollinger, President & CEO, Toby A. Handel, Vice President & Chief Financial Officer, Scott A. Gilbraith, Senior Vice President, Mark B. Werning, Vice President & Chief Operations Officer, Lindsey J. Uttech, Human Resources Director, Daniel J. Cusack, Vice President and Information Systems Officer, Andrea A. Bobb, Vice President, Compliance Officer & Internal Auditor, Emily H. Snell, Vice President, Head of Residential Mortgage Lending, Kevin T. Schoonmaker, Senior Vice President & Business Development Director (Moline), Mark L. ‘Butch’ McCreight, Vice President (Moline), Janeane M. Minnaert, Vice President (Annawan), Rex A. Johnson, Vice President (Aledo), Luke M. Gierach, Vice President, Agricultural & Commercial Lending (Orion).
Headquartered in Orion, IL, BankORION has over 132 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.