JASPER, IN / ACCESSWIRE / May 30, 2019 / SVB&T Corporation (OTCQX: SVBT), parent company of Springs Valley Bank & Trust Company, announced today that Ronald "Pete" Sermersheim would not seek re-election as a Director. Pete, former Vice President Environment, Health & Safety with Kimball International, joined the Bank's Board of Directors in 1976 and retired at the end of his term on May 21, 2019. During his directorships with SVB&T Corporation and Springs Valley Bank & Trust Company, Mr. Sermersheim served on various Bank committees, most recently as Chairman of the Audit & Risk Committee and member of the Bank's Compensation Committee and Nominating & Governance Committee.
"Pete has been a supportive and engaged Board Member during my entire tenure at Springs Valley," stated President & CEO Jamie Shinabarger. "I want to publicly thank him for his years of service and dedication to helping grow shareholder value."
Mr. Sermersheim reflected, "I was blessed to spend my years in the world of finance surrounded by a wonderful group of honest, caring, and loyal Board Members who were focused on maintaining a true community banking experience." He went on to say, "The cultures of Kimball and Springs Valley made being a part of both organizations a true joy."
SVB&T Corporation is headquartered at 8482 West State Road 56, French Lick, Indiana 47432 with administrative offices at 1500 Main Street, Jasper, Indiana 47546. Springs Valley has two locations in both Dubois and Orange Counties. Its subsidiary, Springs Valley Bank & Trust Company, offers full-service bank and trust services. Springs Valley has products and services for all types of families and businesses, including checking and savings accounts, certificates of deposit, electronic services, online mortgage applications and a variety of other loan options. In addition, the company has a full-service trust department managed by experienced, talented professionals specializing in estate planning, tax planning and wealth management. Investment Services are also offered by a licensed, professional Springs Valley representative. More information can be found online at www.svbt.bank. The company's stock is traded on the OTCQX trading platform under ticker symbol SVBT (www.otcmarkets.com).
Springs Valley Bank & Trust Company is a member of FDIC and is an Equal Housing Lender.
For more information contact: Dianna Land, Marketing Director, at 812.634.4963 or email at [email protected].
SOURCE: SVB&T Corporation