State Financial Services Corp. Announces Management Promotions.Business Editors HALES
The church of Hales St Margaret is one of 124 existing round-tower churches in Norfolk. CORNERS, Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. .--(BUSINESS WIRE)--April 22, 2003 State Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SFSW) announced today promotions for several key executives. The announcement follows record annual earnings for 2002 and a 20% increase in earnings per share in first quarter 2003 to $0.42 as compared to $0.35 per share for the same period one year ago. "We are very pleased with the progress we have made during the past year," said Michael J. Falbo, President and 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 State Financial Services Corporation. "As our management team assessed our opportunities it became apparent we would be best positioned to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. those opportunities by focusing our key executives in functional areas of responsibilities." These steps complete an organizational shift that was started over a year ago, focusing executives on product lines rather than geographical markets. As a result, the company has combined two Wisconsin markets into one unit comprised of two regions. Thomas Lilly has been named Senior Vice President of the South Region in Wisconsin for Commercial Banking from the headquarters in Hales Corners. Brian Hillstrom, Vice President, will lead the North Region for Commercial Banking from his office in Brookfield. The Bank's Illinois Commercial Banking region will remain unchanged, under the leadership of Peter LeSueur. Dave Towe, head of Retail Banking in Illinois has been named SVP SVP S'il Vous Plaît (French: Please) SVP Senior Vice President SVP Schweizerische Volkspartei (Swiss People~s Party) SVP Society of Vertebrate Paleontology SVP Social Venture Partners SVP St Vincent de Paul of Retail Banking for the entire bank. Towe has 30 years of experience in retail banking, mortgage lending and operations. Towe will continue to oversee the company's mortgage division and investment services. Donna Bembenek, SVP of Marketing, will now join commercial banking, focusing on business development and sales, particularly as it relates to the growing cash management needs of the bank's business customers. Bembenek will continue to lead the company's Marketing and Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most initiatives. In December State Financial Services Corporation reported record annual earnings for 2002. In March, State Financial increased its regular quarterly dividend as a result of the upward earnings the company has enjoyed. "Our significant growth in the past year, particularly within our loan portfolio, points to a specific market niche available to State Financial Bank. By taking these steps within our senior management team we are confident in our ability to continue this positive trend," said Robert J. Cera, President of State Financial Bank. State Financial Services Corporation is a financial services company operating 26 locations in southeastern Wisconsin and northeastern Illinois. Through its banking network, the Company provides commercial and retail banking products; long-term fixed rate secondary market mortgage origination and brokerage activities. Shares of the Company's common stock are traded on the Nasdaq National Market System under the symbol "SFSW." The Company intends that certain matters discussed in this release are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " intended to qualify for the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. from liability established by the private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements can generally be identified as such because the statements will include "believes," "anticipates," "expects," or "estimates" or words of similar meaning. Similarly, statements that describe future plans, objectives, targets or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated as of the date of this release. Factors that could cause such a variance include, but are not limited to, changes in interest rates, local market competition, customer loans and deposit preferences, regulation, and other general economic conditions. Shareholders, potential investors, and other readers are urged to consider these factors in evaluating the forward-looking statements. The forward-looking statements included in this release are only made as of the date of this release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. |
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