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Exchange State Bank, Lanark Names Matt Zumdahl President & John Nelson Remains as Vice President & Chairman of the Board

LANARK, IL – March, 2019 – Exchange State Bank has announced that Matthew P. Zumdahl has been named President, effective immediately.  Current President John H. Nelson will remain with the bank as Vice President and will continue to serve as Chairman of the Board for both Exchange State Bank and Lanark Bancshares, Inc., the bank's holding company.

Mr. Zumdahl joined Exchange State Bank in 2009 as a Loan Officer and was soon promoted to Assistant Vice President. He was named Vice President in 2015 and has also served on the Board of Directors since that time.  Mr. Zumdahl, a Shannon, IL native, is a 2001 graduate of Eastland High School, a 2005 graduate of Western Illinois University, and a 2012 graduate of the University of Wisconsin – Madison's Graduate School of Banking. He currently serves on the City of Lanark's Park Board and as Treasurer for the Lanark Chamber of Commerce, the Lanark Old Settler's Day Committee, and the Lanark Sesquicentennial Committee.

“I'm honored that the Board of Directors has appointed me to be the 11th President in Exchange State Bank's 140 year history, and it is not a responsibility I take lightly," said Zumdahl.  “John has been a strong mentor to me over the last 10 years and I will continue to lean on his experience and guidance throughout this transition.  I look forward to stepping into this role and working with our outstanding staff to continue to deliver the high level of personal service and product offerings our customers have come to expect."

Mr. Nelson joined Exchange State Bank in 1978 as a Loan Officer and Assistant Cashier, has been a Director since 1982, was named Vice President and Chairman of the Board in 1996, and has served as President since 2009.  He will remain Chairman of the Board and will continue to work on a part-time basis as Vice President.

“It has been an honor to be involved with and lead an outstanding community bank like Exchange State Bank over the last 40 years.  The Board of Directors and I are confident in Matt and the team's ability to continue to serve the best interests of our shareholders, customers, and community at a high level.  I look forward to continuing my work both at the Board level and by lending a guiding hand as we transition to our next generation of leadership, just with a little more free time."