SOURCE: Sturgis Bancorp Inc.

January 06, 2015 09:30 ET

Sturgis Bancorp, Inc. Announces Director Resignation

STURGIS, MI--(Marketwired - Jan 6, 2015) - Sturgis Bancorp, Inc. (OTCQX: STBI) today announced David L. Franks resigned from the boards of Sturgis Bancorp Inc. and its subsidiary Sturgis Bank & Trust Company, effective January 2, 2015. Mr. Franks cited personal reasons for his departure. Mr. Franks stated, "My experience serving this organization has truly been an honor." He added, "I will continue to support the Bank as a customer and stockholder." 

President/CEO Eric L. Eishen stated, "David has done a fine job advising the board and his guidance will be missed. I understand David's reason for departure and wish him well."

Sturgis Bancorp is the holding company for Sturgis Bank & Trust Company, and its subsidiaries Oakleaf Financial Services, Inc. and Oak Mortgage, LLC. Sturgis Bancorp provides a full array of trust, commercial and consumer-banking services from 11 banking centers in Sturgis, Bronson, Centreville, Climax, Colon, South Haven, Three Rivers and White Pigeon, Mich. Oakleaf Financial Services offers a complete range of investment and financial-advisory services. Oak Mortgage offers residential mortgages in all banking centers of the Bank.

For Sturgis Bank & Trust Company updates, visit www.sturgisbank.com.

This release contains statements that constitute forward-looking statements. These statements appear in several places in this release and include statements regarding intent, belief, outlook, objectives, efforts, estimates or expectations of Bancorp, primarily with respect to future events and the future financial performance of the Bancorp. Any such forward-looking statements are not guarantees of future events or performance and involve risks and uncertainties, and actual results may differ materially from those in the forward-looking statement. Factors that could cause a difference between an ultimate actual outcome and a preceding forward-looking statement include, but are not limited to, changes in interest rates and interest rate relationships; demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking laws and regulations; changes in tax laws; changes in prices, levies, and assessments; the impact of technological advances; government and regulatory policy changes; the outcome of any pending and future litigation and contingencies; trends in consumer behavior and ability to repay loans; and changes of the world, national and local economies. Bancorp undertakes no obligation to update, amend or clarify forward-looking statements as a result of new information, future events, or otherwise. The numbers presented herein are unaudited.

Contact Information

  • CONTACTS:
    Sturgis Bancorp, Inc.
    Eric Eishen
    President & CEO

    Brian P. Hoggatt
    CFO
    P: 269 651-9345