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8-K - FORM 8-K - PRINCETON NATIONAL BANCORP INC | k49927e8vk.htm |
Exhibit 99.1
PRINCETON NATIONAL BANCORP, INC. & CITIZENS FIRST NATIONAL BANK
ANNOUNCE RETIREMENT OF JAMES B. MILLER, EXECUTIVE VICE PRESIDENT
& COMMERCIAL BANKING MANAGER
ANNOUNCE RETIREMENT OF JAMES B. MILLER, EXECUTIVE VICE PRESIDENT
& COMMERCIAL BANKING MANAGER
December 23, 2010: Princeton National Bancorp, Inc., Princeton, Illinois (NASDAQ: PNBC), the
holding company of Citizens First National Bank.
Princeton National Bancorp, Inc. and Citizens First National Bank today announced the retirement of
Executive Vice President & Commercial Banking Manager James B. Miller effective February 4, 2011.
Miller joined the staff of Citizens First National Bank in June of 1979 as an Ag Loan Officer. He
was promoted several times during his employment at Citizens and was appointed an Executive Vice
President in 1996.
Ive been proud to be a part of Citizens for over 30 years, commented Miller. Many remarkable
relationships have been forged with customers and staff who are now close friends. As a nation and
as a Bank, we are now coming out of the most significant economic downturn in three generations
stated Miller. The time is right for others to pick up the torches and take the organization into
the next era.
I am fortunate to be able to retire at this stage of my life and am looking forward to enjoying
the perks that come along with retirement concluded Miller.
Jim has been an integral part of Citizens First National Bank for over 31 years, stated President
and CEO Thomas Ogaard. His leadership and commitment to the organization have been invaluable.
His will be big shoes to fill and all of us wish him the best in retirement.
As we look to transition someone into Jims position, we are very cognizant of ensuring that we
maintain the same high level of commitment to our community banking philosophy said Ogaard.
At the time of his retirement, Jim will have served as an Executive Vice President for almost 15
years. Since he joined the Bank, the Companys loans have grown in size from $69.3 million to
$709.2 million as of September 30, 2010. Jim has been instrumental in this growth and as a member
of the Companys management team.
During Millers tenure at Citizens, he has taken an active role in many community service
organizations. A few examples include: Princeton High School Board; Chairman, Princeton Chamber
of Commerce; Vice Chairman, Upper River Valley Development Authority; Chairman, Princeton
Industrial Commission; Princeton Revolving Loan Fund Committee; Illinois Agricultural Leadership
Foundation; Bureau Co. Livestock Association; various Farm Bureau Committees; Princeton Jaycees;
and Princeton Lions Club.
The Management, Staff and Board of Directors are very grateful for Mr. Millers contributions to
the Company and wish him many successes with his future endeavors. The Company will announce
Millers successor in the near future.
Inquiries should be directed to: | Lou Ann Birkey, Vice President Investor Relations, Princeton National Bancorp, Inc. (815) 875-4444, E-Mail address: pnbc@citizens1st.com |