Princeton National Bancorp, Inc. & Citizens First National Bank Appoint Thomas D. Ogaard President & CEO
November 20 2009 - 11:00AM
Marketwired
Princeton National Bancorp, Inc. (NASDAQ: PNBC), the holding
company of Citizens First National Bank today announced the
appointment of Thomas D. Ogaard as President & CEO effective
February 2, 2010. Ogaard joined the Company in August of 2009 and
is currently serving on the Board of Directors of both Princeton
National Bancorp, Inc. and Citizens First National Bank. Ogaard has
an extensive background with both regional and community banks in
the Midwest.
"I am very excited about this new opportunity with the Company
and Subsidiary Bank," Thomas D. Ogaard commented. "The current
management has built a strong customer foundation, solid asset base
and continuous earnings stream. I have joined an outstanding
Company and look forward to being a part of its future
successes."
"I have been fortunate to join a fine management team,"
continued Ogaard. "The Management and Boards of Directors are
focused on the long-term safety, soundness, strength and viability
of the Subsidiary Bank and the Company. The current economic times
have impacted all financial institutions and will continue to be an
issue. Citizens First National Bank has been serving customers
since 1865 and will continue to meet the needs of individuals,
businesses and public entities for many years to come."
Current President & CEO Tony J. Sorcic commented, "Mr.
Ogaard has been a fine addition to the management team. His
knowledge of banking will be an asset as he leads the Company into
the future. I look forward to the many successes of the Company
which will further strengthen the franchise value and I am
confident Tom, the Boards of Directors and Management will achieve
many accomplishments going forward."
Chairman Craig O. Wesner stated, "We are fortunate to have
someone with Mr. Ogaard's experience in banking assume the
President's position. He has demonstrated several strengths in his
short time with the Company and will be a valuable asset. Although
we are losing an excellent leader with the retirement of Tony J.
Sorcic, Ogaard will continue the same community bank philosophy and
customer and shareholder focus which has developed Princeton
National Bancorp, Inc. into a fine institution."
Ogaard has a Bachelor's of Science in Business Administration
from Bemidji State University, in Bemidji, Minnesota. He has been
active in such organizations as Rotary, March of Dimes, Chambers of
Commerce, Habitat for Humanity, United Way, Junior Achievement, and
has served as a youth baseball, softball and hockey coach and has
been an active member of his church. Tom and his wife Mary Kay look
forward to continuing their involvement in community activities and
helping the worthwhile organizations that serve the area.
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Inquiries should be directed to: Lou Ann Birkey Vice President -
Investor Relations Princeton National Bancorp, Inc. (815) 875-4444
E-Mail address: Email Contact
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