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OAK Financial Corporation Announces New Chairperson of the Holding Company.

Business Editors

BYRON 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 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, Calvin College, the Downtown Rotary Club and the Grand Rapids Chamber of Commerce. Shearer holds a B.A. from the University of Michigan and an M.B.A. from Eastern Michigan University.

"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 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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Publication:Business Wire
Date:Apr 23, 2004
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