STURGIS, MI--(Marketwired - Jun 28, 2016) - Sturgis Bancorp, Inc. (OTCQX: STBI) today announced that David L. Franks rejoined the Boards of Sturgis Bancorp Inc. and its subsidiary Sturgis Bank & Trust Company, effective June 27, 2016.
Mr. Franks previously served as a director from May 2009 until January 2015. He cited personal reasons for his departure in 2015. Those reasons have mitigated.
President/CEO Eric L. Eishen stated, "The entire board is thrilled with the return of David to the boards. David was an excellent board member, served the shareholder and community interest and was sorely missed after he left. David is already fully up to speed on the banking industry and the strategic direction of the Bank. His strong manufacturing background, business knowledge and ability to construct well informed decisions made him a great candidate the first time he served. David will pick up right where he left off."
Mr. Franks fills the recent vacancy on the boards.
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 12 banking centers in Sturgis, Bangor, 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.