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United States

Citizens Community Bancorp Inc (CZWI.OQ)

CZWI.OQ on NASDAQ Stock Exchange Global Market

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15 Dec 2017
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Summary

Name Age Since Current Position

Richard McHugh

73 1988 Lead Independent Chairman of the Board

Stephen Bianchi

52 2017 President, Chief Executive Officer, Director

James Broucek

54 2017 Chief Financial Officer of Corporation abd Bank

Francis Felber

2017 Director

James Lang

72 2012 Independent Director

Brian Schilling

61 1987 Independent Director

Michael Swenson

65 2011 Independent Director

David Westrate

72 1991 Independent Director

Biographies

Name Description

Richard McHugh

Mr. Richard McHugh is Lead Independent Chairman of the Board of the Company. Mr. McHugh has been the majority owner and President of Choice Products USA, LLC for the past 34 years. Choice Products is engaged in the national distribution of products for the fundraising industry. The Chairman of the Board is not considered one of our officers or employees. Mr. McHugh is a member of the Audit Committee, Merger and Acquisition Committee and Governance and Nominating Committee of our Board of Directors.

Stephen Bianchi

Mr. Stephen M. Bianchi is President, Chief Executive Officer, Director of the Company. He brings to the chief executive officer role substantial leadership experience in operations, finance, sales, strategic planning and general management experience. Mr. Bianchi joins the Company from the $1.1 billion asset HF Financial Corp. and Home Federal Bank, both based in Sioux Falls, South Dakota, where he served as President and Chief Executive Officer for the past five years. Mr. Bianchi was a member of the board of directors of HF Financial Corp. Mr. Bianchi also served in several senior management positions at Wells Fargo Bank and Associated Bank prior to his employment with HF Financial Corp. and Home Federal Bank. Mr. Bianchi holds an MBA from Providence College and a B.S. in Finance from Providence College.

James Broucek

Mr. James S. Broucek has been appointed as Chief Financial Officer of the company and Citizens Community Federal, N.A., a national banking association and the wholly-owned subsidiary of the Company (the “Bank”) effective as of October 31, 2017. He served as a Senior Manager of Wipfli LLP since December 2013, where he led the asset liability team which assisted clients with interest rate risk, liquidity risk and capital planning. Before joining Wipfli, Mr. Broucek held several positions with TCF Financial Corporation and its subsidiaries from 1995 to 2013, with his last position being Treasurer of TCF Financial. Prior to joining TCF Financial, Mr. Broucek served as the Controller of Great Lakes Bancorp. He currently serves as a member of the Strategic Issues Council of the Financial Manager Society, Inc. and as a member of the Finance Committee of Youthprise. Mr. Broucek holds a B.A. in mathematics and business administration with a concentration in accounting from Hope College.

Francis Felber

Mr. Francis E. Felber is Director of the Company. Mr. Felber will serve until the Company's 2020 annual shareholders meeting. Mr. Felber brings over 40 years' experience in the agricultural industry to the Board of Directors. His career includes time at the Minneapolis Grain Exchange as a grain merchant and merchandised grain on the Chicago Board of Trade. In 1975, Mr. Felber joined his family's feed and grain country elevator in southern Minnesota and worked there until it was sold in 1982. He remained in the grain, feed and agronomy business until he joined Jerome Foods, Inc. (Jennie-O Turkey Store, Inc.) in 1990 to manage the Feed Ingredient Purchasing Department. In 2007, Mr. Felber founded Ag Risk Managers Insurance Agency LLC, which specializes in the risk management of crops and livestock. Prior to Mr. Felber's election to the Board of Directors, Citizens Community Federal National Association, the Company's wholly owned subsidiary (the "Bank"), granted loans to Mr. Felber. The loans were made in the ordinary course of business, on substantially the same terms and conditions, including interest rates and collateral, as those prevailing at the time for comparable loans with persons not related to the Company, and in accordance with the Bank's underwriting guidelines. The loans also do not involve more than the normal risk of collectability or present other unfavorable features. There is no arrangement or understanding between Mr. Felber and any other person pursuant to which he was selected as a director. Mr. Felber will receive compensation for his service on the Board of Directors and Credit Committee in accordance with the Company's standard compensatory arrangement for directors. A description of the Company's director compensation can be found under the caption "Director Compensation" in the Company's most recent definitive proxy statement on Schedule 14A, filed with the Securities and Exchange Commission on January 25, 2017.

James Lang

Mr. James R. Lang is an Independent Director of the Company. Mr. Lang has over 35 year’s leadership experience in the financial service and manufacturing industries with an emphasis on strategic realignment, revenue enhancement, mergers and acquisitions and financial performance. Mr. Lang has been the owner and President of Advantech Manufacturing, Inc., a company engaged in the business of manufacturing products for the dry particle sizing industry, since April 1998. Additionally, Mr. Lang has held several executive positions at Firstar Bank. Most recently serving as Chairman, President and Chief Executive Officer at Firstar Bank Iowa, NA from April 1991 to April 1996. Mr. Lang is a member of the Merger and Acquisition Committee, Governance and Nominating Committee and Chairman of the Credit Committee of our Board of Directors and a Board Member Representative of the Asset Liability Committee.

Brian Schilling

Mr. Brian R. Schilling is an Independent Director of the Company. Mr. Schilling has served as a principal of Bauman Associates, Ltd., a certified public accounting firm, since 1990. Mr. Schilling previously served as the Managing Partner of Bauman Associates. Mr. Schilling is a member of the Audit Committee and the Compensation Committee of our Board of Directors.

Michael Swenson

Mr. Michael L. Swenson is an Independent Director of the Company. Mr. Swenson retired in 2012. Prior to his retirement, Mr. Swenson was the President and CEO of Northern States Power Company - Wisconsin (an Xcel Energy Company and an electric and natural gas utility holding company) in Eau Claire, Wisconsin and had served as an engineer in various executive roles with Xcel Energy for over a decade. Mr. Swenson is a member of the Compensation Committee and Chairman of the Governance and Nominating Committee of our Board of Directors. The Board of Directors benefits from Mr. Swenson’s executive and leadership expertise all of which led to the conclusion that he should serve as a director of Citizens.

David Westrate

Mr. David B. Westrate is an Independent Director of the Company. David B. Westrate’s diverse management experience with Fortune 500 corporations, the Federal Government, the United States Air Force, and his own companies, spans more than 45 years. In 1989, his marketing firm was named to INC Magazine’s “500 Fastest Growing Privately Held Companies in America.” Since 1996, Mr. Westrate has been involved in several start-up enterprises, including his current frac sand mine project. He has also served on several non-profit and ministry boards, and established two successful K-8 private schools. Mr. Westrate joined the Board of Citizens Community Federal N.A.'s predecessor, the Citizens Community Credit Union, in 1992, and was instrumental in converting the credit union to a publicly traded savings bank in 2004. He has been chairman of both the Audit and Compensation Committees of our Board of Directors since 2006. Mr. Westrate earned his BA and MA in economics, with postgraduate study in management at Loyola University in Chicago.