Shareholders of IF Bancorp backed a nonbinding proposal calling for the sale of the Watseka, Ill., company.
The $893 million-asset company disclosed in a regulatory filing that more than 1.4 million shares voted in favor of the proposal at its annual meeting, while 969,000 shares objected. About 55,000 shares abstained.
Separately, the company said that Walter Hasselbring, III, its president and CEO, was named chairman. He succeeded Gary Martin, who reached the company’s mandatory retirement age.
Thomas Chamberlain, who had been chief lending officer, was named president, succeeding Hasselbring. Finally, Joseph Cowan was named lead independent director.