Dieterich Bank Announces CEO Retirement, Successor
Chuck Deters to retire; Jason Semple named CEO and board member
EFFINGHAM, IL., Feb. 22, 2023---Dieterich Bank’s board of directors today announced that Chuck Deters, its chief executive officer, plans to retire after fifteen years with the bank. The Board said that the Bank’s current chief financial officer, Jason D. Semple, will succeed Deters as chief executive officer effective May 1, 2023. He will also be a member of the holding company and bank board of directors. Deters has agreed to stay active for a transition period through the second quarter of the year.
“On behalf of the Board and our entire Dieterich Bank team, we want to thank Chuck for his leadership and positive impact over the past decade and a half,” said Dieterich Bank chairman of the board Bob Willenborg. “Chuck’s leadership and management has played a significant role in profitably growing Dieterich Bank from $187 million in assets when he started to over $1.2 billion in assets today. We wish him nothing but the best in this next chapter of his life.
“We also are delighted to welcome Jason as our new leader. The Board, in accordance with our established succession planning process engaged an executive search firm to conduct a nationwide search, which included both external and internal candidates. Jason’s familiarity with our community values and the strategic direction of the bank, his leadership skills and significant experience in finance, lending, mergers and acquisitions, were important attributes in his selection. The Board looks forward to working with Jason in the months and years ahead as we continue to execute on our strategies to meet the evolving needs of our stakeholders”, Willenborg said.
Deters joined the bank in 2008 as vice president of business development after a 20-year career in senior management positions at Consolidated Communications. In 2011, he was named President of the Bank’s holding company, Prime Banc Corp, and appointed a director of both. He was named CEO of the Bank and the holding company in 2014.
“In early 2022, I notified the Board of my desire to retire so we would have adequate time to select and establish a seamless transition plan for my successor. It’s been an honor to serve as CEO during this transformational period for the banking industry. I’m especially proud of the Dieterich Bank team, whose hard work and dedication to the South Central Illinois and Metro East communities we serve have allowed us to achieve so much. I also want to thank our customers, communities, colleagues, shareholders, and the Board of Directors for their ongoing support. I’m looking forward to working actively with Jason through the transition period and while I’ll be spending more time with my family and doing a bit more traveling thereafter, you can be sure I will remain actively involved in the community.” said Deters.
Semple joined Dieterich Bank in 2014 as chief financial officer after serving for 5 years in a variety of treasury and financial analyst and operations positions at a multi-billion asset midwestern bank. He began his career with the accounting firm of Crowe Horwath LLP as a senior associate, CPA. He graduated cum laude with a Bachelor of Science degree from the University of Illinois at Urbana -Champaign and is a registered certified public accountant in Illinois. Active in many community and industry affairs, Semple was a former board member of the Effingham Regional Growth Alliance and currently serves as a board member of the Effingham Park District.
About Dieterich Bank
Dieterich Bank, a unit of Prime Banc Corp., has approximately $1.2 billion in assets with 13 locations in South Central Illinois and the Metro East region, as well as a loan production office in South County, St. Louis. For the past four years the Bank has been recognized as a Best Place to Work in Illinois.
For further information contact:
Bob Willenborg, Chairman of the Board