Assets grew 6% over previous fiscal year.
President James R. Dingman informed stockholders that during 2015, assets grew 6% to $423 million. The company ended the year with $227 million in outstanding loans, an increase of 3%. Total equity capital amounts to $46 million or 10.95% of assets.
Dingman reviewed progress made on a number of topics including the bank’s 125###sup
The shareholders elected Matthew N. Miller and Charles H. Langman to the board of directors for three-year terms. Other directors include Timothy J. Fritz, Howard W. Nightingale, Jerry L. Goddard, Daniel J. Wahlheim, Alan F. Wright, and James R. Dingman.
Subsequent to the shareholders’ meeting, the board of directors of BankORION and its parent company, Orion Bancorporation, Inc. promoted Matthew P. Bollinger to President. In addition, Bollinger was appointed to the Board of Directors. Current President and CEO James R. Dingman, will retain the title of Chairman and CEO.
Matt Bollinger joined BankORION in 2014. Prior to joining BankORION, he was a Partner in Wipfli LLP’s Financial Institutions Practice. At Wipfli LLP, Matt worked with community banks specializing in providing financial statement audits, loan reviews, merger & acquisition assistance and capital planning. He is a CPA and a graduate of both Northern Illinois University and the University of Illinois. Matt resides in Coal Valley with his wife and their three children.
The board re-appointed the following other BankORION senior officers: Timothy J. Fritz, Senior Vice President & Chief Lending Officer, Cindy S. Bender, Senior Vice President & Chief Financial Officer, Scott A. Gilbraith, Senior Vice President, Larry L. Greim, Vice President & Cashier, Sharon K. Warner, Vice President & Human Resources Director, Emily H. Snell, Vice President, Mark A. Johnson, Vice President (Cambridge), Mark L. ‘Butch’ McCreight, Vice President (Moline), Kevin T. Schoonmaker, Vice President (Moline), and Janeane M. Minnaert, Vice President (Annawan).
Headquartered in Orion, IL, BankORION has over 125 years of experience in financial services. BankORION has seven locations in Iowa and Illinois servicing the Orion, Cambridge, Moline, Aledo and Annawan, Illinois markets as well as the Bettendorf, Iowa market. To learn more about BankORION, please visit http://www.bankorion.com.