Iowa State Bank shareholders meeting held

The 12th annual meeting of the shareholders of Iowa State Financial Services Corporation was held May 21 in the lobby of the downtown branch of Iowa State Bank and Trust Company.

David Eastburn was appointed the chairman and presiding officer while Marcia Gaines was appointed as the secretary of the meeting.

A resolution from the shareholders was passed unanimously increasing the number of authorized directors from 11 to 12 with Pat McMahon of Fairfield elected to fill the new seat on the board of directors. Additionally, Eastburn, chairman of Iowa State Financial Services Corporation, Sarah Cochran, attorney-at-law and partner of Foss, Kuiken and Cochran, and Jon Simplot, president and CEO of Iowa State Bank and Trust Company, all of Fairfield, were unanimously re-elected to the board of directors for a three-year term of office.

In other action, the board of directors of Iowa State Bank and Trust Company unanimously elected Kathy Love as a new vice president of commercial lending and credit administration and Dena Morrissey as a new assistant vice president of deposit administration and assistant deposit compliance officer. Love started with Iowa State Bank March 13, 1989. Her first responsibility was in the bookkeeping area and then she moved to the commercial note window. She advanced to the loan processing department and currently works as the commercial loan administrator. Morrissey began her career with Iowa State Bank June 25, 1996, in the bookkeeping area of the bank. She became a personal banker in 1998. She also had an opportunity to work in the loan administration area of the bank for a year, before returning to be a personal banker. She has been a member of the Community Bankers of Iowa, Leaders of Tomorrow since 2005.

The appointment of Simplot as president and CEO, Gaines as senior vice president, Sue Buch as vice president, Susan Booth as vice president, Sheri Stone as vice president and cashier, Laurie Smith as vice president and investment officer, Jackie Hinshaw as vice president, Deanne Hickenbottom as assistant vice president, and Kathy Conger as assistant cashier, were also approved by the directors.

Eastburn was elected as the chairman of the board of directors and Connie Boyer was appointed as the corporation?s chief financial officer and its secretary.

Eastburn reviewed the financial condition of the organization and its subsidiary banks located in Fairfield and Marion. He thanked the shareholders for their support and expressed the appreciation for the help of the board, the chief executives of the subsidiary banks, and all of the staff for their hard work and efforts during this time of economic uncertainty.

Iowa State Financial Services Corporation is a multi bank holding company headquartered in Fairfield.