Date: July 8, 2022
We held our annual shareholder meeting in McCall yesterday and I wanted to share a few items with everyone. To begin with, I was proud to report the fantastic results this team produced in 2021. Everyone on the team contributed to a record year for the bank in terms of growth and profitability – THANK YOU!
There were a handful of items that required shareholder approval. The first of those was re-electing four of our current board members, great news for our organization. I believe we have the most talented community bank board in our region each with a diverse background and experience. The board’s perspectives are invaluable to our organization, and help the executive team as a trusted group of advisors.
Our shareholders also voted to approve the merger agreement with BAWAG. I have talked to the team about this being one of the steps needed to close the transaction, and yesterday over 99% of the votes cast voted in favor of the merger. With the IDFB shareholder vote concluded the last remaining step is approval by banking regulators, and BAWAG is working through that process.
Overall a very productive meeting where strong shareholder support was shown for the many great things taking place at Idaho First Bank.
Happy to answer any questions you may have.