Area News

Winds of Change Blow Through Raritan State Bank at 106th Annual Shareholders Meeting

The Raritan State Bank held its 106th annual meeting of the shareholders on Saturday, March 14th, at the St. Patrick’s Community Center.  

The St. Patrick Altar Society provided an excellent meal, enjoyed by the shareholders, employees, and guests.  

Typical for this time of year, it was a blustery day, as the winds of change were blowing.

Director Marcum Spears ran the business portion of the meeting, where Angela Pollock, who has been the CFO for the last twenty-three years, reported on the financial position of the bank. 

The bank’s assets have grown to $251,266,656.37 through year-end. Along with the growth, the bank earned record profits of $2,402,673.36 after taxes, as reported by Director Bill Simonson.  

CEO Robert Schleich thanked St. Patrick’s for the food and facilities. He then introduced the three newest full-time employees of the bank. 

Abigail Batson joined the bank last spring as the Administrative Assistant in the Abingdon branch, Kyle Eathington joined the Bushnell team late last year as a Loan Officer, and Dudley Ricketts recently joined the staff as a Loan Officer at Raritan. 

Machai West and Ethel Logue were introduced as the newest part-time Customer Service Representatives in Bushnell and Abingdon, respectively.

In a heart-felt address, the Chairman of the Board, Steve Wisslead, thanked the shareholders and staff for their long-term support as he announced his retirement from serving as a director for the last thirty years. 

Angela Pollock, who is soon retiring from the bank as CFO, was elected to fill his vacancy, and Rich White was re-elected for another three-year term. 

Additionally, Steve informed the shareholders that the bank was now a member of the Federal Home Loan Bank (FHLB), which will provide additional liquidity options for the bank as well as enhanced consumer products for the customers.

In banking, change is everywhere, and change is guaranteed. From new shareholders, new directors, new employees, new growth, new customers, and new products, the Raritan State Bank is now, and always, going through change. 

Throughout its 106-year history, Raritan State Bank has transited many seasons and seen much change. 

Filled with growth and new potential, spring is a season full of change. Once again, as the winds of change are blowing through the bank, it certainly feels like spring!