OTTAWA BANCORP, INC. (NASDAQ:OTTW) 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 of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) On January 29, 2019, Jon Kranov, President and Chief Executive Officer of Ottawa Bancorp, Inc. (the “Company”) and Ottawa Savings Bank (the “Bank”), notified the Company and the Bank that he will be retiring effective August 16, 2019.

(c) On January 30, 2019, the Company issued a press release announcing that, effective as of Mr. Kranov’s retirement on August 16, 2019, Craig M. Hepner has been appointed as the President and Chief Executive Officer of the Company and the Bank. Mr. Hepner, age 54, has been a director and Executive Vice President and Chief Operating Officer of the Company and the Bank since 2014. Mr. Hepner served as a director and as President and Chief Executive Officer of Twin Oaks Savings Bank from January 2001 until the Bank’s acquisition of Twin Oaks Savings Bank in December 2014.

On January 30, 2019, the Company also announced that in August 2019, Mark Stoudt will be promoted to Executive Vice President and Chief Operating Officer of the Company and the Bank. Mr. Stoudt, age 50, has served as Vice President and Chief Lending Officer of the Bank since 2015. Prior to January 2015, he served as a Commercial Banking Officer for seven years. Mr. Stoudt will continue to serve as Chief Lending Officer following his promotion.

The Company also announced that in August 2019, Marc N. Kingry, age 56, will be promoted to Senior Vice President of the Company and the Bank effective August 16, 2019. Mr. Kingry will also continue to serve as Chief Financial Officer of the Company and the Bank, a position which he has held since December 2010.

A copy of the Company’s press release is included as Exhibit 99.1 and is incorporated by reference herein.

Ottawa Bancorp Inc Exhibit
EX-99.1 2 ex_133924.htm EXHIBIT 99.1 ex_133924.htm     Exhibit 99.1 DATE: January 30,…
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