OTTAWA BANCORP, INC. ANNOUNCES APPOINTMENT OF VICE PRESIDENT TRACIE STEIDER AS CHIEF OPERATING OFFICER
June 15 2022 - 3:17PM
Ottawa Bancorp, Inc. (OTCQX: OTTW) (the “Company”), the holding
company for OSB Community Bank (the “Bank”), announced today that
the Boards of Directors of the Company and the Bank have appointed
Vice President Tracie Steider as Chief Operating Officer of the
Company and the Bank. Following Ms. Steider’s appointment, Mark
Stoudt, Executive Vice President and Chief Operating Officer of the
Company and the Bank, and Chief Lending Officer of the Bank, will
continue to serve as Executive Vice President of the Company and
the Bank and Chief Lending Officer of the Bank, in which capacity
he will continue to oversee the Bank’s lending function.
Ms. Steider joined the Company and the Bank in
2014 and, since that time, has held many positions within the
Bank’s retail and operations department. Most recently, Ms. Steider
served as the Bank’s Director of Human Resources since January 2021
and she will continue to maintain oversight over the Bank’s human
resources function following her appointment as Chief Operating
Officer. Ms. Steider received a B.S. in Family and Consumer
Sciences with a Human Development emphasis from Illinois State
University in Normal, Illinois and a M.B.A. in Business
Administration/Human Resources Management from University of
Phoenix in Phoenix, Arizona. Ms. Steider also recently graduated
from the Human Resources Management School through the Graduate
School of Banking at the University of Wisconsin – Madison.
“Tracie’s promotion to Chief Operating Officer
reflects the significant contributions she has made to the Company
and the Bank over the past several years, and her skill set well
positions her to serve as our Chief Operating Officer,” said Craig
Hepner, President and Chief Executive Officer. “As Chief Operating
Officer, Tracie will serve in an enhanced leadership position
within the Company and the Bank, and I am looking forward to
working with her in this new role.”
“We are also incredibly grateful to Mark Stoudt,
who has served as both our Chief Operating Officer and our Chief
Lending Officer since our management restructuring in August 2019,”
Mr. Hepner continued. “Since that time, we have grown from $293
million in assets to $349 million in assets as of March 31, 2022.
During the same period, our loan portfolio has grown from $236
million to $282 million. Mark has played an important role in our
growth, and has demonstrated exceptional leadership and dedication
to his dual roles. Separating the Chief Operating Officer and Chief
Lending Officer positions will enable Mark to devote more of his
time and efforts to lending matters, which are instrumental to our
future success, as we continue to grow the Company and the
Bank.”
About Ottawa Bancorp, Inc.
Ottawa Bancorp, Inc. is the holding company for
OSB Community Bank which provides various financial services to
individual and corporate customers in the United States. The Bank
offers various deposit accounts, including checking, money market,
regular savings, club savings, certificates of deposit, and various
retirement accounts. Its loan portfolio includes one-to-four family
residential mortgage, multi-family and non-residential real estate,
commercial, and construction loans as well as auto loans and home
equity lines of credit. OSB Community Bank was founded in 1871 and
is headquartered in Ottawa, Illinois. For more information about
the Company and the Bank, please visit www.myosb.bank.
Cautionary Statement Regarding
Forward-Looking Statements
This news release contains forward-looking
statements within the meaning of the federal securities laws.
Statements in this release that are not strictly historical are
forward-looking and are based upon current expectations that may
differ materially from actual results. These forward-looking
statements, identified by words such as “will,” “expected,”
“believe,” and “prospects,” involve risks and uncertainties that
could cause actual results to differ materially from those
anticipated by the statements made herein. These risks and
uncertainties involve general economic trends and changes in
interest rates, increased competition, changes in consumer demand
for financial services, the possibility of unforeseen events
affecting the industry generally, the uncertainties associated with
newly developed or acquired operations, market disruptions and the
potential effects of the COVID-19 pandemic on the local and
national economic environment, on our customers and on our
operations as well as any changes to federal, state and local
government laws, regulations and orders in connection with the
pandemic. Ottawa Bancorp, Inc. undertakes no obligation to release
revisions to these forward-looking statements publicly to reflect
events or circumstances after the date hereof or to reflect the
occurrence of unforeseen events, except as required by applicable
law.
Contact:
Craig Hepner
President and Chief Executive Officer
(815) 366-5437
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