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First Bankers Trustshares, Inc. Selects Seth Runkle as New CFO

Posted on 4/22/2021 by Kyle Beckman

On April 22, 2021, First Bankers Trustshares, Inc. (the “Company”) announced the appointment of Seth Runkle as Chief Financial Officer (CFO) effective on or about June 1, 2021. Mr. Runkle will also serve as the Chief Financial Officer for First Bankers Trust Company, N.A. which is a wholly-owned subsidiary of the Company. Tom Frese, the current bank Chief Financial Officer, as planned, will step down as CFO, but continue with the bank until his retirement at the end of 2021.

seth runkleMr. Runkle has been serving as the Chief Financial Officer for City and County of Denver’s Department of Transportation and Infrastructure since November 2018.  Prior to then, he served 21 years with Citigroup in a variety of finance/accounting positions in the United States, Europe and Latin America. He has extensive bank management and executive leadership experience.  . 

"After a comprehensive search process, we are excited to add Seth Runkle to the leadership team of First Bankers Trustshares, Inc. and First Bankers Trust Company, N.A," said Allen Shafer, President and CEO of First Bankers Trustshares, Inc. "We are extremely thankful for Tom’s decades of service to our company and are confident that Seth is the best candidate to fill those responsibilities."

"I am extremely thankful to the Company for this opportunity and look forward to contributing to a stable, growing company," said Runkle. "This is a wonderful community that my family and I are thrilled to be coming back to the Midwest."

Runkle holds a bachelor's degree in finance from Western Illinois University in Macomb, Illinois. Additionally, he served as Sergeant, 7th Battalion, 1st Field Artillery in the US Army Reserves.  

About First Bankers Trustshares, Inc.

First Bankers Trustshares, Inc. is a bank holding company owning First Bankers Trust Company, N.A. The Company was incorporated on August 25, 1988, and is headquartered in Quincy, Ill. First Bankers Trustshares, Inc. is a publicly held company whose common stock is traded over-the-counter under the symbol FBTT. For more information, visit http://fbti.firstbankers.com.   

About First Bankers Trust Company, N.A.:
Headquartered in Quincy, Ill., First Bankers Trust Company, N.A., a wholly-owned subsidiary of First Bankers Trustshares, Inc., is a community-oriented commercial bank offering a variety of financial services to meet the needs of the communities it serves, including personal banking, residential mortgage loans, consumer loans, small business loan and agricultural loans. The bank has branch locations in Quincy, Macomb, Mendon, Carthage, Rushville, and Springfield, Illinois as well as a Loan Production office in O’Fallon, Illinois. It is the largest bank in Adams County. For more information, visit https://www.firstbankers.com.

Special Note Concerning Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect the current views of First Bankers’ management with respect to, among other things, future events and First Bankers’ financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,” “forecast,” “goal,” “target,” “would” and “outlook,” or the negative variations of those words or other comparable words of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about First Bankers’ industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond First Bankers’ control. Accordingly, First Bankers cautions you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although First Bankers believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from First Bankers’ expectations include, without limitation, the following: the ongoing COVID-19 pandemic and measures to prevent its spread, which include wide disruptions to business activity that may impact the financial strength of our borrowers; competition from other financial institutions and bank holding companies; the effects of and changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; changes in the demand for loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market and monetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitions and integration of acquired businesses, and similar variables. The foregoing list of factors is not exhaustive.

Any forward-looking statement speaks only as of the date on which it is made, and First Bankers does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New risks and uncertainties arise from time to time, and it is not possible for us to predict those events or how they may affect us. In addition, First Bankers cannot assess the impact of each factor on First Bankers’ business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that First Bankers or persons acting on First Bankers’ behalf may issue.


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