Illinois Bank & Trust has announced the promotion of Jeff Hultman to the
position of President and CEO. Hultman succeeds Steven E. Ward, who will
relocate and be named President of Centennial Bank and Trust in Denver,
Colorado. Both Illinois Bank & Trust and Centennial Bank and Trust are
subsidiaries of Heartland Financial USA, Inc., a Dubuque, Iowa-based
community bank holding company.
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Jeff Hultman, President and CEO, Illinois Bank & Trust (Photo Credit: Heartland Financial USA Inc.)
Hultman has most recently served as Market President of Illinois Bank &
Trust, having joined the bank in 2011 as Executive Vice President in
charge of Commercial, Treasury Management and Private Banking.
Previously, Hultman was Rockford Area President of Commercial Banking at
JPMorgan Chase Bank where he served in various Commercial Banking
capacities for 14 years.
Hultman is a graduate of Bethel University, where he earned a bachelor’s
degree in Business (Finance). He received a Master’s of Business
Administration degree from Northern Illinois University.
Dan Loescher, Chairman of the Illinois Bank & Trust Board of Directors,
said, “I know our employees and valued clients will be in excellent
hands going forward with Jeff Hultman at the helm. In his five years
here, Jeff has come to know the bank and is deeply committed to the
communities we serve. He is recognized as an excellent leader and
commercial banker. Like Steve, Jeff shares the same high esteem for
employees and customers.”
Active in the community, Jeff currently sits on the Board of Directors
and Executive Committee of Alignment Rockford, the Rockford Chamber of
Commerce Board of Directors, and Discovery Center Board of Directors.
Previously, he served on boards for the Rockford Area Economic
Development Council, Next Rockford, Rockford Area Century Group and the
United Way of the Rock River Valley.
Said Hultman, “I am humbled and excited to become the next President and
CEO of Illinois Bank & Trust. It is very exciting to be part of a
dynamic and growing organization. Our bank is steeped in a great
tradition and I eagerly look forward to working with our Board of
Directors and talented team of bankers to build on the momentum created
by Steve Ward.”
Ward completes a nearly eight-year stretch as President and CEO of
Illinois Bank & Trust. During his tenure, the bank grew organically and
through acquisition by 182 percent in total loans and by 219 percent in
total deposits, doubling its market share in the Rockford MSA to 6.5
percent. Ward oversaw the name change from Riverside Community Bank to
Illinois Bank & Trust and managed the acquisition of Freedom Bank
locations in Sterling, Seaton and Rock Falls as well as the merger with
IBT’s sister bank, Galena State Bank and Trust Company, with locations
in Elizabeth, Stockton and Galena.
Ward said, “While I am honored to have the opportunity to serve as
President of Centennial Bank and Trust, I leave the community of
Rockford and Illinois Bank & Trust with mixed emotions. I will certainly
miss the many friends and business partners I have come to know and
appreciate over my many years in the community.”
About Illinois Bank & Trust
Illinois Bank & Trust serves
customers from 11 locations in the Rockford metropolitan area, Rock
Falls/Sterling region, Galena, Elizabeth and Stockton, Illinois markets.
The $757 million bank is a subsidiary of Heartland Financial USA, Inc.
and offers commercial, personal, agriculture, and wealth management
services. Illinois Bank & Trust is a Member of the FDIC and an Equal
Housing Lender. For more information, visit illinoisbank.com.
About Heartland Financial USA, Inc.
Heartland Financial USA,
Inc. is a diversified financial services company with assets exceeding
$8 billion. The company provides banking, mortgage, private client,
investment, insurance and consumer finance services to individuals and
businesses. Heartland currently has 108 banking locations serving 85
communities in Iowa, Illinois, Wisconsin, New Mexico, Arizona, Montana,
Colorado, Minnesota, Kansas, Missouri, Texas and California, with
mortgage loan production offices in California, Nevada and Idaho.
Additional information about Heartland Financial USA, Inc. is available
at www.htlf.com.
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