Princeton National Bancorp, Inc. Announces Promotion of CFO and Hiring of Executive Vice President & Banking Group Manager
September 03 2009 - 1:15PM
Marketwired
Princeton National Bancorp, Inc. (NASDAQ: PNBC), the holding
company of Citizens First National Bank, today reported the
appointment of Todd D. Fanning as Executive Vice President &
Chief Financial Officer and the hiring of Thomas D. Ogaard as
Executive Vice President & Banking Group Manager.
Fanning joined the Company in December of 1990 as Assistant Vice
President & Controller, was promoted to Vice President &
Controller in 1993, Vice President & Chief Financial Officer in
1997, and Senior Vice President & Chief Financial Officer in
2005.
President & CEO Tony J. Sorcic stated, "We are very pleased
to announce the promotion of Todd Fanning to Executive Vice
President & Chief Financial Officer. Todd is an integral part
of the management team and his dedication and knowledge have been
instrumental in the Company's growth and success."
Fanning has a Bachelors of Science degree in Accounting from
Illinois State University and obtained his Certified Public
Accounting certification in 1988. He is a currently president of
the Hall High School Board of Education, an elder of the First
Baptist Church in Princeton, and president of the Spring Valley
Flag Football League, and has coached little league baseball for
over seventeen years, served as an instructor for Junior
Achievement and been a member of the Bureau Country Senior Citizens
Association Board of Directors. Todd and his wife Rachel have four
children, Chelsae (24), Gregg (21), Derek (18), and Brett (14).
Fanning stated, "I was fortunate to join the Company nineteen
years ago at a time when there was much opportunity for growth in
banking and for myself personally. I am thankful to be part of such
a great organization committed to the customers, communities and
shareholders we serve. I look forward to the continued success of
our Company."
Ogaard, who joined the Company today, has experience in all
areas of banking. Ogaard started his career in banking in 1978 and
most recently was employed by State Bank of Park Rapids in Park
Rapids, Minnesota as Executive Vice President & Chief Loan
Officer.
President Sorcic commented, "Mr. Ogaard will be a fine addition
to our outstanding management team. His wealth of banking knowledge
will be a tremendous asset as the Company continues to grow. We
look forward to many future successes with him on our team."
Ogaard noted, "I am especially pleased to join such a solid
financial institution like Citizens First National Bank. They are a
first class organization and I am fortunate enough to become a part
of the team. They really care about the communities they serve and
I look forward to becoming involved in local initiatives."
Ogaard has a Bachelors of Science in Business Administration
from Bemidji State University, in Bemidji, Minnesota. He has been
active in such organizations as Chambers of Commerce, Habitat for
Humanity, United Way, Junior Achievement, and has served as a youth
baseball, softball and hockey coach and as treasurer, board member
and a member of the finance committee of his church. Tom and his
wife Mary Kay have five children, Jennifer (31), Jason (27), Katie
(23), Alissa (22), and Whitney (17).
Princeton National Bancorp, Inc. is the parent holding company
of Citizens First National Bank, a $1.258 billion community bank
with strategic locations in 8 counties in northern Illinois. The
Company is well-positioned in the high growth counties of Will,
Kendall, Kane, Grundy, DeKalb and LaSalle plus Bureau and Marshall.
Communities include: Aurora, DePue, Genoa, Hampshire, Henry,
Huntley, Millbrook, Minooka, Newark, Oglesby, Peru, Plainfield,
Plano, Princeton, Sandwich, Somonauk and Spring Valley. The
Subsidiary Bank, Citizens First National Bank, provides financial
services to meet the needs of individuals, businesses and public
entities.
This press release contains certain forward-looking statements,
including certain plans, expectations, goals, and projections,
which are subject to numerous assumptions, risks, and
uncertainties. These forward-looking statements are identified by
the use of words such as 1) believes, 2) anticipates, 3) estimates,
4) expects, 5) projects or similar words. Actual results could
differ materially from those contained or implied by such
statements for a variety of factors including: changes in economic
conditions; movements in interest rates; competitive pressures on
product pricing and services; success and timing of business
strategies; the nature, extent, and timing of governmental actions
and reforms; and extended disruption of vital infrastructure. The
figures included in this press release are unaudited and may vary
from the audited results.
Inquiries should be directed to: Lou Ann Birkey Vice President -
Investor Relations, Princeton National Bancorp, Inc. (815) 875-4444
E-Mail address: Email Contact
Princeton National Bancorp (CE) (USOTC:PNBC)
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