COUNTY BANCORP, INC. (NASDAQ:ICBK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

COUNTY BANCORP, INC. (NASDAQ:ICBK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 3, 2018, Rick G. Dercks and Kenneth R. Zacharias, directors of County Bancorp, Inc. (the “Company”), provided notice to the board of directors of the Company of their intentions to resign from the Board, effective December 19, 2018, as the result of the upcoming merger of the Company’s independent registered public accounting firm, CliftonLarsonAllen LLP (“CLA”), with Schenck S.C. (“Schenck”), a certified public accounting firm.

Mr. Zacharias is a current shareholder at Schenck, and Schenck is engaged to provide services to Mr. Dercks. As a result of the merger of CLA and Schenck, CLA has informed the Company that such relationships between the two could compromise CLA’s independence from the Company.As a result, Mr. Dercks and Mr. Zacharias have announced their intentions to resign from the Board so that the Company can continue to retain CLA as its independent registered public accounting firm.

Additionally, Edson P. Foster, Jr., who is currently a director of the Company and member of the Company’s Audit Committee, will be named the “audit committee financial expert;” replacing Mr. Zacharias in this role.

A copy of the Company’s press release announcing the resignation of Mr. Dercks and Mr. Zacharias is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

Exhibit

Number

Description

99.1

Press release dated December 7, 2018


County Bancorp, Inc. Exhibit
EX-99.1 2 icbk-ex991_7.htm EX-99.1 icbk-ex991_7.htm   Exhibit 99.1 FOR IMMEDIATE RELEASE   County Bancorp,…
To view the full exhibit click here

About COUNTY BANCORP, INC. (NASDAQ:ICBK)

County Bancorp, Inc. is a bank holding company. The Company’s primary activities consist of holding the stock of its subsidiary bank, Investors Community Bank (the Bank), and providing banking and related business activities through the Bank and its other subsidiaries. It operates in the community banking segment. The Bank is an independent community bank offering financial services focusing on the needs of agricultural businesses, with a primary focus on dairy-related lending with lending relationships in over 60 Wisconsin counties. It also serves business and retail customers throughout Wisconsin, but is focused on northeastern and central Wisconsin. Its customers are served from its service branches in Manitowoc and Stevens Point, and its loan production offices located in Darlington, Eau Claire, Fond du Lac, and Sheboygan. Its subsidiaries include Investors Insurance Services, LLC, County Bancorp Statutory Trust II, County Bancorp Statutory Trust III and County Acquisition LLC.

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