Dedicated Community Banker, Advocate Concludes Successful 45-Year Career

STURGIS, MI / ACCESSWIRE / January 15, 2024 / Sturgis Bancorp, Inc. (OTCQX:STBI) today announced Eric L. Eishen is retiring after 45 years of service to Sturgis Bank, its subsidiary community bank.

Today's announcement marks the completion of a planned succession process that began in July 2022 when Eishen turned over day-to-day operations of the community bank to Jason Hyska as chief executive officer and Matt Scheske as president and chief operating officer. Eishen, who retained the Sturgis Bancorp roles of president and CEO and added Sturgis Bank roles of executive vice president and chief strategy officer, is now retiring from all responsibilities with Sturgis Bancorp, Sturgis Bank and its subsidiaries.

Sturgis Bancorp's board of directors unanimously appointed Hyska to serve as president and CEO effective immediately.

"We owe a tremendous debt of gratitude to Eric for his decades of service to Sturgis Bank and to our community," Board Chair David Franks said. "His leadership and vision have enabled us to grow in every sense of the word. During his tenure, we have added new banking centers and ATM locations, new products and services and new employees to support new customers. We deeply appreciate Eric's loyalty and service and wish him all the best in his well-deserved retirement.

"The board of the Bank is pleased to expand Jason's responsibilities in recognition of the tremendous work he has done as CEO over the past 18 months. He is supported by a strong and capable executive leadership team who is well able to take the bank to the next level."

"They say if you love what you do, you'll never work a day in your life," Eishen said. "I have truly loved working for the Bank, which has given me a memorable career and a unique opportunity to serve our community and its residents. I am incredibly thankful to our board for giving me the chance to retire earlier than I had thought possible.

"While I will truly miss my colleagues and customers, I am leaving Sturgis Bank in the best of hands. Jason, Matt and the leadership team are incredibly knowledgeable, highly motivated and deeply caring - in short, everything you want in community bankers. I am confident in their leadership."

Eishen began his work at Sturgis Bank at age 12, mowing the grass, weeding flower beds and washing windows for his father, Leonard, who was then Sturgis Bank president and CEO. He began his banking career as a teller at age 15, serving in roles of increasing responsibility until he became president, CEO and a director of Sturgis Bancorp in 2002 and of the Bank in May 2003.

"It's been an honor and privilege to work alongside and learn from Eric for so many years," Hyska said. "He has a true heart for community banking - and for this community. We have all benefited tremendously from his dedication, hard work and commitment to Sturgis Bank. Our 234 employees all wish Eric the best in his next chapter."

Active professionally in the banking industry and business community, Eishen is a past chair and board member of the Michigan Bankers Association, which named him Banker of the Year in 2014. He served in various leadership roles with the Michigan League of Savings Banks, America's Community Bankers, Michigan Bankers PAC and the Robert M. Perry School of Banking, as well as on committees for the American Bankers Association.

Eishen serves as board member and treasurer of the Michigan Chamber of Commerce. He also serves on the boards of the Sturgis Downtown Development Authority, Sturgis Improvement Association and Sturgis Brownfield Development Board. He is a trustee and Finance Committee advisor of the Sturgis Area Community Foundation and a board member and treasurer of St. Joseph County EDGE, the county's economic development authority. Eishen was recognized as the Sturgis Citizen of the Year in 2018.

His leadership roles include past president and board member of the Sturgis Area Chamber of Commerce, Sturgis United Fund and Sturgis Junior Achievement. Eishen also served on the boards of the Sturgis Hospital Endowment Fund and Sturgis Public Schools Endowment Fund.

Eishen's many contributions have been recognized with numerous awards, including the Exchange Club Book of Golden Deeds, Kiwanis International Recognition of Service, Glen Oaks Community College Outstanding Service Award and Pheasants Forever President's Commendation for Leadership in Wildlife Habitat Conservation.

"Eric's most significant contribution was to guide the bank through the most difficult economic environment since the Great Depression," Hyska said. "He was proud to be able to keep the Bank independent and institute our philosophy of the four stakeholders: customers, community, employees and shareholders. Our board, Matt and I continue to be committed to that philosophy."

Sturgis Bancorp is the holding company for Sturgis Bank & Trust Company (Bank) and its subsidiaries Oakleaf Financial Services, Oak Mortgage, Ayres/Oak Insurance and Oak Title Services. The Bank provides a full array of trust, commercial and consumer banking services from banking centers in Sturgis, Bangor, Bronson, Centreville, Climax, Colon, Marshall, Niles, Portage, South Haven, St. Joseph, Three Rivers and White Pigeon, Michigan. Oakleaf Financial Services offers a complete range of investment and financial-advisory services. Oak Mortgage offers residential mortgages in all markets of the Bank. Ayres/Oak Insurance offers various competitive commercial and consumer insurance products. Oak Title Services offers commercial and consumer title insurance.

For Sturgis Bank & Trust Company updates, visit www.sturgis.bank.

Contact:

Megan Yore, Chief Marketing Officer
Sturgis Bank, 269.659.1498

SOURCE: Sturgis Bancorp, Inc.