For the City Times
Key Savings Bank held their 97th annual meeting on Wednesday.
The bank had a capital of over $10.9 million on December 31, 2016, and had assets of $75.7 million at year end. Bruce W. Rokke, President and Chief Executive Officer reported these numbers to the members at the meeting.
“KeySavings Bank closed 171 mortgage and consumer loans in 2016, totaling $11.5 million in loans to people in our local community,” said Rokke. “KeySavings Bank services approximately 1,000 mortgage and consumer loans totaling over $46.9 million.”
According to Rokke, KeySavings Bank had approximately 4,450 savings and other deposit accounts totaling $62.1 million at year end, and $283,000 in interest was paid to depositors last year.
“Our depositors continue to recognize and appreciate the importance of KeySavings Bank’s strong financial condition and the value of FDIC insured deposits when they make investment decisions,” said Rokke. “KeySavings Bank will continue to be a community bank.”
Directors re-elected by the shareholders were Earl Staege and Dr. Stephen Sternitzky. Other board members include Lawrence Schmick, Nelson Dahl, Bruce Rokke, Cynthia Henke and Todd Buntrock. Geraldine Groskopf is a director emeritus.
At the annual organization meeting immediately following the membership meeting, the board of directors elected Dahl as Chairman of the Board; Schmick, Vice Chairman; Rokke, President and Chief Executive Officer; Buntrock, Vice President; Darin Olson, Secretary; Colleen Windegarden, Treasurer; Tamatha Huser, Assistant Secretary; and Tracy Ostrowski, Operations Officer.
KeySavings Bank is located at 811 E. Grand Ave.