FREMONT – The annual shareholders meeting of Croghan Bancshares Inc., the parent holding company of
Croghan Colonial Bank in Custar, was held May 12 at the Fremont Inn.
Kendall W. Rieman, the chief financial officer and treasurer, reported Croghan Bancshares Inc.’s net
income was $4,352,000 compared to $5,511,000 in 2007. On a per-shares basis, net income for 2008 was
$2.51, which is a 19.8 percent decrease from the $3.13 per share earned in 2007. Return on average
assets was 0.96 percent, and return on average equity was 8.09 percent.
In other actions, the Croghan Colonial Bank board approved the following promotions: Robert W. Constein
to vice president and elected as a Trust Officer; Robert L. Overmyer, vice president, Deposit
Administration, Security and Risk Management Officer; and Christopher S. Elfring, assistant vice
president and officer in charge of Retail and Mortgage Lending.FREMONT – The annual shareholders meeting
of Croghan Bancshares Inc., the parent holding company of Croghan Colonial Bank in Custar, was held May
12 at the Fremont Inn.
Kendall W. Rieman, the chief financial officer and treasurer, reported Croghan Bancshares Inc.’s net
income was $4,352,000 compared to $5,511,000 in 2007. On a per-shares basis, net income for 2008 was
$2.51, which is a 19.8 percent decrease from the $3.13 per share earned in 2007. Return on average
assets was 0.96 percent, and return on average equity was 8.09 percent.
In other actions, the Croghan Colonial Bank board approved the following promotions: Robert W. Constein
to vice president and elected as a Trust Officer; Robert L. Overmyer, vice president, Deposit
Administration, Security and Risk Management Officer; and Christopher S. Elfring, assistant vice
president and officer in charge of Retail and Mortgage Lending.