Dustan Cross elected as Chairman of Citizens Bank Minnesota Board of Directors

Citizens Bank Minnesota Board of Directors Chairman, Dustin Cross

Dustin Cross

Citizens Bancorporation of New Ulm, Inc., parent company of Citizens Bank Minnesota, held its annual meeting on Tuesday, January 10, 2017. Citizens Bancorporation is owned by approximately 350 shareholders from the New Ulm and surrounding area.

Re-elected to three year terms were incumbent directors Lou Geistfeld, Bob Hinnenthal and Ted Marti. Other directors not up for election include Bill Brennan, Bryon Christenson, Dustan Cross, Mark Furth, Walt Luneburg and Jim Schuetzle. Dustan Cross was elected to serve as Chairman of the Board, replacing Mark Furth who will be retiring from the Board in March.

Stockholders in attendance were provided with a complete review of the financial performance of the bank for 2016. Highlights of the financial report were that the bank has grown to over $369 million in assets, has total equity capital of $38,930,000, and a net profit in 2016 of $2,770,581. Dividends paid to stockholders in 2016 totaled $0.76 per share.

Citizens Bank Minnesota was chartered in 1876 and has offices in New Ulm, Lafayette, La Salle and Lakeville.

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