GREAT WESTERN BANCORP, INC. (NYSE:GWB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(b)
On February 23, 2018, the Board of Directors of Great Western Bancorp, Inc. (the “Company”) and Kenneth J. Karels, who serves as President and Chief Executive Officer of the Company and its principal banking subsidiary, Great Western Bank (the “Bank”) made the determination that as a result of the growth of both the Company and Bank to separate the duties of the President and Chief Executive Officer. Subject to the hiring of a new President for the Company and the Bank, this transition is expected to occur by the end of 2018. Mr. Karels will continue to serve as Chief Executive Officer and Chairman of the Board for both the Company and Bank and will continue to oversee its leadership and growth in the marketplace. The Executive Committee of the Company’s Board of Directors will conduct the nationwide search for a new President.
A copy of the press release announcing the changes is attached hereto as Exhibit 99.1, and the information contained therein is incorporated by reference in this Item 5.02.
Item 9.01.Financial Statements and Exhibits.
(d)Exhibits.
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Exhibit No. |
Description |
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99.1 |
Copy of Company's press release dated February 28, 2018, furnished herewith. |
Great Western Bancorp, Inc. ExhibitEX-99.1 2 a22818gwbkarelspressrele.htm EXHIBIT 99.1 a22818gwbkarelspressrele
Great Western Bancorp,…To view the full exhibit click here
About GREAT WESTERN BANCORP, INC. (NYSE:GWB)
Great Western Bancorp, Inc. is a full-service regional bank holding company. The Company is the holding company of the Great Western Bank (the Bank). As of September 30, 2016, the Company served customers through 173 branches in various markets in Arizona, Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota. The Company focuses on business and agribusiness banking, complemented by retail banking and wealth management services. The Company’s loan portfolio consists primarily of business loans, consisting of commercial and industrial loans (C&I), commercial real estate loans and agribusiness loans. The Company offers its business banking customers a focused range of financial products designed to meet the specific needs of their businesses, including loans, lines of credit, cash management services, online business deposit and wire transfer services, in addition to non-interest-bearing demand deposit and savings accounts, and corporate credit cards.