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posted on Tuesday, March 23, 2021
Orion, IL, March 23, 2021: The 130th annual meeting of the shareholders of Orion Bancorporation, Inc. was held virtually, on Monday, March 15, 2021.
President and CEO Matthew P. Bollinger informed stockholders the company ended 2020 with record net income and total assets of $543 million. The company’s outstanding loans ended the year at $292 million, an increase of 6% and total deposits ended the year at $445 million, an increase of 16%. In addition, total stockholders’ equity amounted to $63 million up 6% from 2019.
Bollinger reviewed progress made on a number of topics including the bank’s record earnings, strategic initiatives, the investment division, InvestORION, COVID-19, and the addition of new technologies.
The board of directors of BankORION and its parent company, Orion Bancorporation, Inc. announced Daniel J. Wahlheim retired from the board of directors in September 2020. Wahlheim served on the board of directors for BankORION and Orion Bancorporation, Inc. since his appointment in 2002.
The shareholders elected Kevin P. Koellner to the board of directors. Koellner is involved in commercial real estate development, the commercial construction business and has been a strong supporter of BankORION for many years.
In addition to Koellner being elected as a new member of the board of directors, the shareholders re-elected James R. Dingman and Alan F. Wright to the board of directors for three-year terms. Other directors include, Matthew P. Bollinger, Brad Keleher, Douglas R. Nelson, Timothy J. Fritz, DeAnne C. Bloomberg and Gerald D. Johnson.
The board re-appointed the following other BankORION senior officers: Matthew P. Bollinger, President & CEO, Timothy J. Fritz, Senior Vice President & Chief Lending Officer, Beth A. Grabin, Vice President & Chief Financial Officer, Scott A. Gilbraith, Senior Vice President, Mark B. Werning, Vice President & Chief Operations Officer, Sharon K. Warner, Vice President & 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 (Orion), Mark A. Johnson, Vice President (Cambridge), 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), and Dean M. Kraus, Vice President (Bettendorf).
Headquartered in Orion, IL, BankORION has over 130 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.