Mars National Bank 2008 Annual Meeting
Thursday, April 17, 2008
Dallas C. Hipple, re-elected Chairman of the Board and CEO of Mars National Bank, conducted the annual meeting of the Bank’s shareholders on Tuesday evening, April 8th, at the Mars Office in Mars, PA.
Dallas Hipple and James V. Dionise, President reviewed the Bank’s financial performance for 2007. During 2007, the Bank generated net income of over $2.5 million, an increase of more than 12% from the previous year, and provided a return on average assets of 0.92%. Total assets at the end of 2007 grew to almost $284 million. The Bank is looking forward to another year of continued growth and expansion in the community. A new full-service office in the Heritage Creek Shoppes on Route 228, Adams Township will be completed by Fall 2008.
The Board of Directors is: Chairman, Dallas C. Hipple, Vice-Chairman, Janet L. van Buskirk Balentine, Secretary, R. Bruce Mensch, Harry G. Austin, III, Dr. Daniel J. Cole, James V. Dionise, Kenneth R. Fleeson, Diane Dobson Howard and J. Jay Thier.
The Board announced the promotions of Ronald J. Dambaugh to Bank Secrecy Act, Compliance & Risk Management Officer, Daniel F. Doyle to Security Officer and Rick Layo to Senior Network Administrator. Also re-elected as executive officers were: Chairman of the Board and CEO Dallas C. Hipple and President James V. Dionise. All other officers of the Bank retained their current positions.
Dallas also noted that Mars National Bank continues to reinvest over 90% of its deposits into the local communities it serves.