2022 Proxy Statement

PROPOSAL 1

ELECTION OF DIRECTORS  The Board of Directors unanimously recommends that you vote “FOR” each of the nominees for director.

At the annual meeting, our shareholders will be entitled to elect three Class I directors for a term expiring at the 2025 annual meeting of shareholders. The Company’s directors are divided into three classes having staggered terms of three years. As described further below, each of the three nominees for election as Class I directors are incumbent directors. All of the nominees have consented to serving as a nominee and serving on the Board, if elected, but if any of the nominees becomes unavailable for election, the holders of the proxies reserve the right to vote for another nominee when voting at the meeting. With respect to the election of directors, the three nominees receiving the highest number of votes cast “FOR” their election will be elected as directors of the Company to serve until the Company’s 2025 annual meeting of shareholders and until his or her successor has been duly elected and qualified, or until his or her earlier resignation or removal. In an uncontested election, all director-nominees will be elected if they receive at least one vote. As a result, abstentions and broker non-votes, if any, will not affect the outcome of the election. Shareholders of the Company have no cumulative voting rights with respect to the election of directors. Set forth below is information concerning the nominees for election and for the other directors whose terms of office will continue after the meeting. NOMINEES CLASS I (Term Expiring 2025) Name Age Position with the Company Director Since James S. Johnson 59 Director 2005 Douglas J. Parish 55 Director 2018 David J. Volk 45 Director 2017

CONTINUING DIRECTORS CLASS II (Term Expiring 2023) Name

Age Position with the Company

Director Since

David B. Juran

54 Director 56 Director 65 Director

2010 2005 2005

Thomas P. Trutna Todd B. Urness

CLASS III (Term Expiring 2024)

Name

Age Position with the Company

Director Since

Jerry J. Baack Lisa M. Brezonik Mohammed Lawal Jeffrey D. Shellberg

55 Chairman, Chief Executive Officer and President

2005 2019 2020

52 Director 55 Director

60 Director, Secretary, Executive Vice President and Chief Credit Officer 2005 All of our directors will hold office until the annual meeting of shareholders in the year indicated, or until their earlier death, resignation, removal or disqualification, or until their respective successors are duly elected and qualified. There are no arrangements or understandings with any of the nominees pursuant to which they have been selected as nominees or directors. The business experience of each nominee and continuing director, as well as their qualifications to serve on the Board, is set forth below. Unless otherwise noted, nominees for director have been employed in their principal occupation with the same organization for at least the last five years. Other than as described below, no nominee, continuing director or executive officer has any family relationship, as defined in Item 401 of Regulation S-K, with any other director or with any of our executive officers.

2022 Proxy Statement

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