Orion Bancorporation ended 2021 with another record year for net income, and reported progress on strategic initiatives, the wealth management division, InvestORION as well as the addition of several new technologies.
The 131st annual meeting of the shareholders of Orion Bancorporation, Inc., the parent company of BankORION, was held Monday, March 21, at Bally’s Quad Cities Casino & Hotel, Rock Island.
BankORION President and CEO Matthew P. Bollinger told stockholders the 2021 record net income marked the sixth year in a row the company achieved record net income, a news release from Orion Bancorporation said.
Total assets ended the year at $612 million, an increase of 13% over the prior year end. Total stockholders’ equity ended the year at $63 million. In addition, total loans were $285 million and total deposits closed at $518 million.
Shareholders also re-elected Mr. Bollinger, Douglas R. Nelson and Brad Keleher to the board of directors for three-year terms. Other directors include: James R. Dingman, Timothy J. Fritz, Alan F. Wright, DeAnne C. Bloomberg, Gerald D. Johnson and Kevin P. Koellner.
Headquartered in Orion, Illinois, BankORION has seven locations including Orion, Cambridge, Moline, Aledo and Annawan, all in Illinois, and Bettendorf, Iowa. To learn more, visit https://www.bankorion.com.