OAK Financial Corporation Announces New Chairperson of the Holding Company.Business EditorsBYRON CENTER, Mich.--(BUSINESS WIRE)--April 23, 2004 OAK Financial Corporation (OKFC), the holding company for Byron Center State Bank, is pleased to announce the election of Grace O. Shearer, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of West Michigan Heart, as chairperson of the holding company. "Grace is a tremendous asset to our Boards. Her election as chairperson of the holding company Board confirms the confidence our directors have in her organizational and decision-making skills," said Patrick K. Gill, president and CEO of OAK Financial Corporation and Byron Center State Bank. "Adding a holding company leadership role to her duties as bank Board chairperson is a logical step and will enhance the effectiveness of both Boards." At West Michigan Heart, P.C., Shearer is responsible for overseeing the leading cardiology practice in West Michigan, with more than 150 employees. Previously, she was vice president of operations at St. Mary's Hospital and, in 1992, served as interim CEO of the hospital. Her previous board experience includes chairperson of the board for Pine Rest Christian Mental Health Services Pine Rest Christian Mental Health Services is a Psychiatric Hospital and mental health treatment facility based primarily in West Michigan. Founded in 1910 in Cutlerville, Michigan (south of Grand Rapids, Michigan) as the Christian Psychopathic Hospital, the name was changed in , Calvin College This article is about a liberal arts college in the United States. For the school in Switzerland, see Collège Calvin. For the U.S. president, see Calvin Coolidge. , the Downtown Rotary Club and the Grand Rapids Grand Rapids, city (1990 pop. 189,126), seat of Kent co., SW central Mich., on the Grand River; inc. 1850. The second largest city in the state, it is a distribution, wholesale, and industrial center for an area that yields fruit, dairy products, farm produce, Chamber of Commerce. Shearer holds a B.A. from the University of Michigan (body, education) University of Michigan - A large cosmopolitan university in the Midwest USA. Over 50000 students are enrolled at the University of Michigan's three campuses. The students come from 50 states and over 100 foreign countries. and an M.B.A. from Eastern Michigan University Eastern Michigan University, mainly at Ypsilanti, Mich.; coeducational; founded 1849 as a normal school, became Eastern Michigan College in 1956, gained university status in 1959. . "Byron Center State Bank continues to make organizational changes in support of our commitment to excellence," Shearer said. "Adding holding company responsibilities to my role as bank Board chair will provide uniform Board leadership and create even greater functional efficiencies." Byron Center State Bank, with over $511 million in assets and 219 employees, was founded in 1921. The bank also provides investment services, retirement planning Retirement financial planning refers to a collection of systems, methods, and processes which, in their aggregate, support a family unit's (client's) desire to achieve a state of financial independence, such that the need to be gainfully employed is optional. and a full array of insurance products through its subsidiaries OAK Financial Services and the Dornbush Insurance Agency. Byron Center State Bank has 12 branches in West Michigan. The bank's parent company, OAK Financial Corporation, is publicly traded under the symbol OKFC. |
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