COUNTY BANCORP, INC. (NASDAQ:ICBK) Files An 8-K Results of Operations and Financial ConditionItem 2.02 Results of Operations and Financial Condition.
On July 20, 2017, County Bancorp, Inc. issued a press release setting forth certain information concerning its results of operations for the quarter and year ended June 30, 2017. A copy of this press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
The information furnished to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to liability under that Section and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act.
|
Item 2.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On July 20, 2017, County Bancorp, Inc. (the “Company”) announced that Glen Stiteley will be appointed Treasurer and the Chief Financial Officer (and principal financial officer and principal accounting officer) of the Company and Executive Vice President – Treasurer and Chief Financial Officer of Investors Community Bank, the Company’s wholly-owned subsidiary (the “Bank”), effective August 15, 2017.
Mr. Stiteley, age 47, previously served as the Executive Vice President and Chief Financial Officer of First Community Financial Partners, Inc., a publicly traded bank holding company, since 2005. Prior to joining First Community Financial Partners, Inc., Mr. Stiteley was a practice leader for the Chicago-based community bank practice of McGladrey & Pullen, LLP and was with the firm from 1995 to 2005.
On July 18, 2017, the Company, the Bank and Mr. Stiteley entered into an employment agreement, the form of which is substantially similar to the employment agreements entered into with the other executive officers of the Company.The employment agreement provides for an annual base salary of $240,000, annual incentive award opportunities and an opportunity for Mr. Stiteley to participate in other employee and fringe benefits on the same basis as is generally available for other similarly situated senior executives of the Company.
The foregoing description of Mr. Stiteley’s agreement is qualified in its entirety by the terms and conditions of such document, which is filed as Exhibit 10.1 to this Current Report on Form 8-K.
Mr. Stiteley is not related to any other director or executive officer of the Company or the Bank by blood, marriage, or adoption, and there are no arrangements or understandings between Mr. Stiteley and any other person to which he was selected as an officer.
David Kohlmeyer’s has served as the Company’s interim Chief Financial Officer and Treasurer (and principal financial officer and principal accounting officer) of the Company and interim Chief Financial Officer of the Bank since August 15, 2016. Mr. Kohlmeyer will continue to serve in these positions until August 15, 2017 when Mr. Stiteley joins the Company and the Bank.
Item 2.02 Financial Statements and Exhibits.
d. Exhibits
|
Exhibit Number |
Description |
|
10.1 |
Employment Agreement dated July 18, 2017, by and among County Bancorp, Inc., Investors Community Bank and Glen L. Stiteley |
|
99.1 |
Press release of County Bancorp, Inc. dated July 20, 2017 |
County Bancorp, Inc. ExhibitEX-10.1 2 icbk-ex101_10.htm EX-10.1 GLS EMPLOYMENT AGREEMENT icbk-ex101_10.htm Exhibit 10.1 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.