Citizens First Bank Announces 2023 Results at Annual Shareholder Meeting

Clinton, March 4, 2024: CFB Holding Company, the parent entity of Citizens First Bank, held its annual shareholder meeting on Wednesday, February 21, 2024.

Stephen C. Clements, President & CEO of Citizens First Bank, shared the outcomes of the bank for the fiscal year concluding December 31, 2023. He reported the achievements of the bank from the previous year, including positive returns for shareholders, reflected in an ROE (Return on Equity) of 7.90%. The 2023 year-end financial report reflects Citizens First Bank’s total assets reaching $314 million, marking a 3.7% increase in assets compared to the prior year.

Clements discussed the greater economic impacts on the banking industry in 2023 and explored Citizens First Bank’s performance compared to local and national peers. He stated, “We are optimistic for the opportunities that 2024 holds. We extend heartfelt thanks to our board and shareholders for their support, and we celebrate the dedication of our incredible staff. Together, we are heading in the right direction toward the bank’s continued growth.”

John McEleney, announcing his resignation from the board and as Chairman, reflected on his time with Citizens First Bank. McEleney was among the founding directors and served as Chairman since 2017. McEleney echoed sentiments that Citizens First Bank is positioned for a successful 2024. Robert Holesinger, also a founding director and active member of the community, assumes the role of Chairman of the Board, marking this transition in leadership. The meeting also entailed several noteworthy promotions among the staff.

Mary Temple is promoted to Vice President Branch Operations. Mary has been a key employee at Citizens First Bank for 21 years, working with deposit products and branch management. She is a graduate of Iowa Bankers Association Consumer Credit School. Mary is an active member of the community, serving the Kiwanis Club, Unity Christian School committees, the Lyons Business and Professional Association and the Camanche Committee for Grow Clinton.

Kristine Wiersema is promoted to Vice President Real Estate Lender. Kris has been in banking since 1990 and with Citizens First Bank since 2006, where she started as a Loan Operations Specialist. Kris graduated from Iowa Bankers Consumer Credit School in 2013 and is an integral member of the real estate lending team. Kris is a member of Clinton Kiwanis and Skyline Foundation board member.

Kelly Goodsman-Smith is promoted to Commercial/Ag Lending Officer. Kelly has been with Citizens First Bank since 2018 where she started as a Credit Analyst. She completed the Credit Analyst Institute at Independent Community Bankers of America (ICBA), and Advanced Commercial Lending School at Iowa Bankers Association. Kelly is involved in the community as Commissioner on the City of Clinton Airport Commission, and a board member for the YWCA of Clinton.

Anne West joined the Officer team in July 2023. Anne brings 17 years of banking experience to her role as Retail Banking Officer. Her focus is on community banking and financial education. Anne’s community involvement includes Kiwanis and Junior Achievement.

Bank Officers are: Stephen C. Clements, President & CEO; Keith D. Hook, Executive Vice President; Emily J. Schulz-Stiles, Senior Vice President Human Resources, and Board Secretary; R. Heather Farwell, Senior Vice President Financial Services; Edward J. Dunham, Senior Vice President Business Development; Ryan A. Melton, Senior Vice President IT/Operations; Gregory B. Farwell, VP Sr. Real Estate Lender; Kristine E. Wiersema, Vice President Real Estate Lender; Georgia E. Cook, VP Loan Administration Officer; Mary L. Temple, Vice President Branch Operations; Anne K. West, Retail Banking Officer; Ashley E. Streed, Compliance/BSA Officer; Carrie R. Donaire, Marketing Officer; Kelly M. Goodsman-Smith, Commercial / Ag Lending Officer; Michelle L. Osborn, Operations Officer; Stacy L. Barenz, Controller (Cashier).

Directors appointed for the coming year are Robert B. Holesinger, Quality Concrete Company (Chairperson); Jens E. Baker, Apex Construction Consultants; Mary P. Connell, Air Control; Gary L. Foster, Winkel, Parker & Foster; Mike R. Hanrahan, Agri-King; Steve L. Howes, Howes & Jefferies; Ryan J. Kinkaid, Aceto; Elizabeth A. Srp, Abstract & Title Guaranty; Stephen C. Clements, Citizens First Bank.

Citizens First Bank officers standing at the front of the main branch in Clinton, Iowa

About Citizens First Bank

Established in 2000, Citizens First Bank plays a vital role in community banking, offering customers effective, locally owned banking solutions, coupled with technology and service excellence. At Citizens First Bank, our mission is to be our communities’ premier bank by putting our customers first. Our purpose is to deliver innovative financial services and products with unmatched personal service. Headquartered at 1442 Lincoln Way in Clinton, Citizens First Bank also has branches at 403 S. Washington Blvd, Camanche, Iowa, and at 1329 N. 2nd St, Clinton. Our digital branch can be accessed at www.GoCFB.bank.