The Annual Stockholders’ Meeting of First Vandalia Corp., parent company of The First National Bank with locations in Vandalia, Ramsey, Patoka, Mulberry Grove and Greenville, was held on Wednesday April 13, 2016 at The First National Bank in Vandalia, Illinois.
Dave Lidy, a rural Fayette County farmer and salesman for Total Livestock Services, was newly elected to the Board of Directors for a three-year term. Thomas L. McCarty and Janice K. Romack were re-elected to three-year terms. They join current directors William E. Chappel, B. Rand Edwards, Steven C. Henna, Michael R. Radliff, Ann M. Schwarm, and Todd L. Shulman. Lidy, the 54th director in First Vandalia Corp.’s history, replaced R. Wynn Provines who retired after 29 years of service.
Scott Lively, with the accounting firm of CliftonLarsonAllen LLP announced the annual audit resulted in a “clean” unqualified opinion and confirmed the “safe and sound” condition of The First National Bank. He commented on the company’s financial performance, “The shareholders should be very proud of what they’ve invested in.”
Chairman Todd Shulman welcomed the shareholders and observed, “We’ve had a good year with good things to talk about.” Shulman praised the leadership team and employees and thanked former President Ernie Chappel for his “leadership, integrity, and creating a culture of success.”
Bank President Michael Radliff spoke of the regulatory challenges the banking industry faces. He credited The First National Bank’s department heads for their hard work in delivering the solid results experienced in 2015. Radliff described the bank as “strong, relevant, and community based.”
Three long-time First National Bank employees retired in 2015: Kim Bone (34 years); Sandy Brumfield (47 years); and, Les Vaughan (40 years).
Following the annual meeting, the Board of Directors announced the promotion of Jerry Schukar to Vice President, Manager of Information Systems and Dusty Bauer to Vice President, Loan Officer. Other designations announced from the previous year were: Joe Schaal, Assistant Vice President, Loan Officer; John Goldsmith, Marketing Director; and Megan Alderson, Credit Analyst.
Chartered in 1865, The First National Bank has grown to over $318 million in assets.