NorthWest Indiana Bancorp (OTCBB:NWIN) 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
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On April 27, 2017, NorthWest Indiana Bancorp (the Corporation)
announced that it will appoint Todd Scheub to the position of
Executive Vice President, Chief Banking Officer, effective June
5, 2017. Mr. Scheub, who is 49 years old, will be responsible for
retail banking, retail and commercial lending, wealth management,
and marketing for the Corporation. For the last four years, Mr.
Scheub served as the Chief Lending Officer of Peoples Bank SB, an
Indiana savings bank and a wholly owned subsidiary of the
Corporation. Mr. Scheub will receive an annual base salary of
$200,573 and is employed on an at-will basis.
Mr. Scheub will be replacing John Diederich, who has served as
the Corporations Chief Banking Officer since April of last year.
Effective June 5, 2017, the Corporation will appoint Mr.
Diederich to the position of Executive Advisor to the
Corporation. Mr. Diederichs responsibilities will include support
to Mr. Scheub, business development, community support, and
projects assigned by the chief executive officer. Mr. Diederich
will receive an annual base salary of $108,000 and is employed on
an at-will basis.
Mr. Scheub was not selected as Executive Vice President, Chief
Banking Officer to any arrangement or understanding between him
and any other person. There are no family relationships between
Mr. Scheub and any of the Corporations other directors or
executive officers. Since the beginning of the Corporations last
fiscal year, there has been no transaction or currently proposed
transaction in which the Corporation was or is to be a
participant and in which Mr. Scheub or any of his immediate
family members had or will have a direct or indirect material
interest required to be disclosed under Item 404(a) of Regulation
S-K.
On April 28, 2017, the Corporation issued a press release
announcing the appointment of Mr. Scheub as the Corporations
Chief Banking Officer and Mr. Diederich as the Corporations
Executive Advisor. A copy of the press release is attached as
Exhibit 99.1 to this report on Form 8-K and incorporated by
reference herein.
| Item 5.07. | Submission of Matters to a Vote of Security Holders |
On April 27, 2017, the Corporation held the Annual Meeting of
Shareholders to due notice. Four directors were elected to the
following terms, by the following votes. Holders of a total of
2,103,831 shares were present in person or by proxy at the
meeting.
|
Director |
Expiration of Term |
Votes For |
Votes Withheld |
Broker Non-Votes |
||||||||||||
| Donald P. Fesko | 1,736,512 | 5,959 | 361,360 | |||||||||||||
| Danette Garza | 1,732,985 | 9,486 | 361,360 | |||||||||||||
| Robert E. Johnson, III | 1,741,595 | 876 | 361,360 | |||||||||||||
| Benjamin J. Bochnowski | 1,739,105 | 3,366 | 361,360 | |||||||||||||
The proposition described below, having received a vote, in
person or by proxy, of more favorable votes than votes cast
against the proposition, was declared to be duly adopted by the
shareholders of the Corporation.
|
For |
Against |
Abstain |
||||||||||
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Approval and ratification of the appointment of Plante Moran, PLLC as auditors for NorthWest Indiana Bancorp for the year ended December 31, 2017 |
2,098,921 | 1,818 | 3,092 | |||||||||
The proposition described below, having received an advisory
vote, in person or by proxy, of more favorable votes than votes
cast against the proposition, was declared to have been adopted:
| For | Against | Abstain | Broker Non-Votes | |||||||||||||
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Approval, on an advisory basis, of compensation paid to executive officers of the Corporation as disclosed in the proxy statement |
1,710,269 | 17,307 | 14,895 | 361,360 | ||||||||||||
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| 99.1 | Press Release dated April 28, 2017 |
About NorthWest Indiana Bancorp (OTCBB:NWIN)
NorthWest Indiana Bancorp (Bancorp) is the holding company for Peoples Bank SB (the Bank), an Indiana savings bank. The Bank is a subsidiary of the Bancorp. The Bank is primarily engaged in the business of attracting deposits from the general public and the origination of loans, mostly upon the security of single family residences and commercial real estate, as well as construction loans and various types of consumer loans, commercial business loans and municipal loans, within its primary market area of Lake and Porter Counties, in northwest Indiana. In addition, the Company’s wealth management group provides estate and retirement planning, guardianships, land trusts, profit sharing and 401(k) retirement plans, individual retirement accounts (IRAs) and Keogh accounts, investment agency accounts, and serves as the personal representative of estates, and acts as trustee for revocable and irrevocable trusts. NorthWest Indiana Bancorp (OTCBB:NWIN) Recent Trading Information
NorthWest Indiana Bancorp (OTCBB:NWIN) closed its last trading session 00.00 at 40.00 with 136 shares trading hands.
