State Bank of Lincoln reports growth in 2009

[June 18, 2010]  At the State Bank of Lincoln annual meeting on June 16, Steve Aughenbaugh, bank president, reported: "The bank experienced excellent growth in 2009 with total assets at year end being $287,000,000. The bank's deposits grew to $259,000,000. During 2009 deposits invested back into the communities served, in loans to local businesses, farmers and individuals, stood at $128,400,000. During 2009 the bank acquired the John Warner Bank in Clinton.

"We couldn't have been more pleased with our deposit growth this past year and the outcome of our acquisition of the John Warner Bank in Clinton," Aughenbaugh said. "As a lot of banks in the country struggled in 2009, State Bank of Lincoln realized one of the best years in the bank's 105-year history."

"The success of the bank has been the result of our excellent staff, our being locally owned and operated, and our strong dedication to the success of the communities we serve," he said.

State Bank of Lincoln was founded in 1904.

At the annual meeting the following directors were elected: George Drake, chairman of the board; Stephen Drake, vice chairman of the board; Steve Aughenbaugh, president; and board members Terry Brown, Allen Drake, Richard Drake, Richard Martin and Glenn McCrea. John R. Gehlbach, who retired from the board after 37 years of service, was named director emeritus. Gail Nunnery was reappointed secretary to the board.

During the annual meeting Gehlbach was honored with a plaque recognizing him for his 37 years of service to the board of directors.

"We have been blessed to have John R. Gehlbach servicing on our board for 37 years, providing his leadership and dedication not only to the bank but also to our community," said Aughenbaugh.

Officers appointed for the following year are Steve Aughenbaugh, president; Paul Short, senior vice president; Gail Nunnery, vice president and trust officer; Kendall Hurley, vice president and cashier; David Irwin, vice president and farm manager; Marianne Krusz, vice president; Jeanne Scheurer, vice president; Annette Gettleman, assistant vice president; Kim Hoyt, assistant vice president; Rodney Meyer, assistant vice president; Michael Turner, assistant vice president; Steve Kraft, loan officer; Nate Sams, loan officer; Ann Marie Irwin, assistant cashier; Vicki Morrow, assistant cashier; Julie Schleder, assistant cashier; Donald Stanfield, assistant cashier; and Cathy Tiffany, information systems officer.

Officers promoted were Lance White, who was promoted to assistant vice president; Mark Smiley, promoted to assistant cashier; and Karen Coats, promoted to loan operations officer.

[Text from file received from State Bank of Lincoln]