CLINTON, Iowa – CFB Holding Company, the parent entity of Citizens First Bank, reported its 2023 achievements at its annual shareholder meeting held last month.
In a news release in early March, CFB said that Citizens First Bank President and CEO Stephen C. Clements shared the outcomes of the bank for the fiscal year ending Dec. 31 at its annual meeting on Wednesday, Feb. 21. The release was posted on the Grow Clinton website.
Achievements, he said, included positive returns for shareholders, reflected in an ROE (Return on Equity) of 7.90%. The 2023 year-end financial report shows the bank reflects Citizens First Bank’s total assets increasing 3.7% year-over-year reaching $314 million.
“We are optimistic for the opportunities that 2024 holds,” Mr. Clements said as he discussed the economic impacts on the banking industry and the bank’s performance compared to local and national peers. “We extend heartfelt thanks to our board and shareholders for their support, and we celebrate the dedication of our incredible staff. Together, we are heading in the right direction toward the bank’s continued growth.”
Chairman steps down
Chairman John McEleney also announced his resignation from the board. Mr. McEleney was among the founding directors and served as chairman since 2017. He also said Citizens First Bank is positioned for a successful 2024.
Robert Holesinger, also a founding director and active community member, assumes the role of chairman of the board.
Established in 2000, Citizens First Bank plays a vital role in community banking, offering customers effective, locally owned banking solutions, coupled with technology and service excellence. Headquartered at 1442 Lincoln Way, Clinton, Citizens First Bank also has a Midtown branch at 1329 N. 2nd St., Clinton, and a branch in Camanche. Its digital branch can be accessed at GoCFB.bank.
