Sorcic announces his retirement

PRINCETON — Princeton National Bancorp Inc. and Citizens First National Bank announced the retirement of President, CEO and Director Tony J. Sorcic effective Feb. 1, 2010.

Sorcic joined the staff of Citizens First National Bank in August 1981 as assistant vice president of operations. He was promoted several times during his employment at Citizens, was appointed to the board of directors of both the company and the bank in 1986. In 1995, Sorcic became president and CEO of Citizens.

“I have decided to retire to pursue a few favorite community service projects and develop a leadership program,” Sorcic said. “It has been a lifelong goal to retire near age 55, and this year I turned 56. Although I will really miss the day-to-day interactions with the staff, customers and shareholders, I have been fortunate to have made many friends in each market which has been extremely fulfilling. We are very excited about this new phase of my life. My wife, Donna, and I have some very exciting plans. To ensure a smooth transition, I will continue to be involved with the company after my retirement for a six-month period under a consulting arrangement.

“When I joined the staff of Citizens, total assets were $130 million with three locations, and now, 28 years later, assets are $1.3 billion, and the bank has 21 locations to serve its customers,” Sorcic continued. “I have worked hard to prepare the bank for this day. We have a fantastic staff and an excellent management team, and I am very confident about the future. A few of the things I am most proud of while affiliated with the company include: The staff’s community involvement and achievements, expansion of the bank’s sales culture, development of the mortgage banking department which now services over $450 million in residential loans to our customers, development of Citizens Financial Advisors, Internet and mobile banking, and the development of an outstanding training program. The staff reached a milestone this year with over 16,000 hours of community service to local organizations and events.”

Craig O. Wesner, chairman of the board said, “Sorcic has played an integral part in the success of the company and the bank. His knowledge and contribution to the board of directors of Princeton National Bancorp Inc. and Citizens First National Bank have been invaluable, and he will be greatly missed at both the management and board of directors’ levels.”