First Vandalia Corp. Holds Annual Meeting

Todd Shulman making his opening remarks to the crowd of shareholders, employees, and retirees in the audience.

The 35th 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 17, 2019 at The First National Bank in Vandalia, Illinois.

David J. Lidy, Thomas L. McCarty, Janice K. Romack were re-elected to three-year board terms. They join fellow directors B. Rand Edwards, Steven C. Henna, Michael R. Radliff, Ann M. Schwarm and Todd L. Shulman. At a board meeting following the annual meeting, officers re-elected were Shulman as chairman and Schwarm as vice chairwoman.

Chairman Shulman welcomed the crowd by introducing board members, officers, retirees and employees in the audience. He reminded the group, “We’re a community bank owned by families.”

The theme of community continued as Michael Radliff , bank president and CEO, took a moment to commend FNB employees for recently reaching the $50,000 milestone in charitable giving through the Jeans for Charity program. Radliff said, “When we talk about a community bank, to me, that defines a community bank.”

Scott Lively, CPA, a partner with the accounting firm of CliftonLarsonAllen LLP, announced the annual audit resulted in “a very strong balance sheet.” He commented on the company’s financial performance, “The return on assets is outstanding. It’s a credit to your management team and board of directors for their daily managing of risk.”

First Vandalia Corp. finished the fiscal year with over $337 million in assets, an increase of $13 million over 2017. The First National Bank saw loan growth of 9.2% and deposit growth of 4.4% over the previous year.

Chartered in 1865, The First National Bank has received Bauer Financial’s highest ranking of five stars for every quarter over the past 28 years.

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