County Bancorp, Inc. announces Board of Director changes
December 07 2018 - 8:30AM
County Bancorp, Inc., the holding company for Investors Community
Bank, has announced changes to its board of directors resulting
from the upcoming merger of the Company’s independent registered
public accounting firm, CliftonLarsonAllen LLP (“CLA”), with
Schenck S.C., a certified public accounting firm (“Schenck”).
Rick G. Dercks and Kenneth R. Zacharias, directors of County
Bancorp, Inc. (the “Company”), provided notice to the board of
directors of the Company on December 3 of their intentions to
resign from the Board, effective December 19, 2018.
Zacharias is a current shareholder at Schenck, and Schenck is
engaged to provide services to Dercks. As a result of the merger of
CLA and Schenck, CLA has informed the Company that such
relationships between the two could compromise CLA’s independence
from the Company. As a result, Dercks and Zacharias have
announced their intentions to resign from the Board so that the
Company can continue to retain CLA as its independent registered
public accounting firm.
"Both of these directors have played an invaluable role on our
board and has been instrumental in the bank’s growth and success,”
said Tim Schneider, President of County Bancorp, Inc. and CEO of
Investors Community Bank. “Ken Zacharias brought a wealth of
knowledge, serving as the ‘audit committee financial expert.’ Rick
Dercks joined us through The Business Bank merger and, with his
financial background, has provided solid guidance. Each has been
strongly invested in the culture of our organization,
organizational growth and ensuring shareholder value, and we are
saddened that they are no longer able to serve as Company board
members.”
Additionally, Edson P. Foster, Jr., who is currently a director
of the Company and member of the Company’s Audit Committee, will be
named the “audit committee financial expert;” replacing Zacharias
in this role.
About County Bancorp, Inc.
County Bancorp, Inc., a Wisconsin corporation and registered
bank holding company founded in May 1996, and our wholly-owned
subsidiary Investors Community Bank, a Wisconsin-chartered bank,
are headquartered in Manitowoc, Wisconsin. The state of
Wisconsin is often referred to as “America’s Dairyland,” and one of
the niches we have developed is providing financial services to
agricultural businesses statewide, with a primary focus on
dairy-related lending. We also serve business and retail
customers throughout Wisconsin, with a focus on northeastern and
central Wisconsin. Our customers are served from our
full-service locations in Manitowoc, Appleton, Green Bay, and
Stevens Point and our loan production offices in Darlington, Eau
Claire, Fond du Lac and Sheboygan.
Investor Relations ContactGlen L. StiteleyEVP -
CFO, Investors Community BankPhone: (920) 686-5658 Email:
gstiteley@icbk.com
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