Term up; for election?

Current directors and their terms as per last year’s meeting..
Name and Age at
December 31, 2010 Position, Principal Occupation, Business Experience and Directorship
Class I Director — Nominee for a Three-Year Term Expiring in 2014
Craig O. Wesner, 69 Director since 1997. Retired General Manager of Ag View FS, Inc., a farm supply cooperative. A member of the Corporation’s Executive Committee. Mr. Wesner was chosen as a Director due to his business knowledge and past experience in the agricultural sector as General Manager of Ag View FS, Inc. He represents the Princeton/Illinois Valley region of the Corporation.
Class III Directors — Term Expires in 2013
Sharon L. Covert, 67 Director since 2001. Secretary/Treasurer of Covert Farms, Inc., a farming operation. A member of the Corporation’s Audit Committee. Ms. Covert was chosen as a Director due to her knowledge of the agricultural sector and her involvement in the local and state level. She represents the Princeton/Illinois Valley region of the Corporation.
Mark Janko, 55 Director since 2002. Owner and President of Janko Realty and Development, a real estate development corporation. Mr. Janko was chosen as a Director due to his knowledge of the real estate sector. He represents the Princeton/Illinois Valley region of the Corporation.
Willard Lee, 81 Director since 2005. Retired President of Somonauk FSB Bancorp, Inc. and Farmers State Bank. Mr. Lee was chosen as a Director due to his past banking experience as President & C.E.O. and a Director of one of the companies acquired. He represents the Central region of the Corporation.
Stephen W. Samet, 66 Director since 1986. President and General Manager of WZOE, Inc., a commercial radio broadcasting corporation. A member of the Corporation’s Audit and Executive Committees. Mr. Samet was chosen as a Director due to his knowledge and expertise in the media field. He represents the Princeton/Illinois Valley region of the Corporation.
Class II Directors — Terms Expire in 2012
Gretta E. Bieber, 58 Director since 2009. Attorney with Alschuler, Simantz & Hem LLC. Director of Citizens First National Bank since 2005. Ms. Bieber was chosen as a Director due to her legal expertise and experience as a Director of one of the companies acquired. She represents the Eastern Region of the Corporation.
Gary C. Bruce, 58 Director since 2001. Owner of Bruce Jewelers. A member of the Corporation’s Audit and Executive Committees. Mr. Bruce was chosen as a Director due to his expertise in the retail sector. He represents the Princeton/Illinois Valley region of the Corporation.
John R. Ernat, 62 Director since 1994. Partner in I. Ernat & Sons, a farming operation. Mr. Ernat was chosen as a Director due to his background in the agricultural sector. He represents the Princeton/Illinois Valley region of the Corporation.
Todd D. Fanning, 48 Appointed to the Board February 2, 2010. Executive Vice President & Chief Operating Officer/Chief Financial Officer of Citizens First National Bank and Princeton National Bancorp, Inc. since February 2, 2010. He has been with the Corporation since December 1990.
Thomas D. Ogaard, 54 Appointed to the Board September 25, 2009. A member of the Corporation’s Executive Committee. President & Chief Executive Officer of Citizens First National Bank and Princeton National Bancorp, Inc. since February 2, 2010. He has been with the Corporation since August 2009.

10 comments on “Term up; for election?

  1. I’ve been thinking….

    The bank and it’s directors refused to add Steve to the list on the official poxy – preferring to ignore a legitimate candidate proposed by a shareholder. Why not replace the weakest candidate with Steve (I know, tough choice, so forget that). Or, add Steve to the proxy list, and let the shareholders decide who they want to support?

    Well, the answer seems to be No. The bank’s directors and management continue on their arrogant path of disrespecting the shareholders – after the mismanagement that has squandered most of the bank’s and shareholders’ equity. I suspect that arrogance and disrespect will be on display again at this year’s annual meeting.

    I wish top management and the directors, present and former, could know the contempt in which they are held by us.

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