GRAND RIVER BANK PROMOTES DREW YSSELDYKE TO PRESIDENT & CEO

Rhea-AI Summary

Grand River Bank (GNRV) has promoted Drew Ysseldyke to President & CEO, completing a transition process that began in April 2023. Ysseldyke succeeds Pat Gill, who served as CEO since 2012 and will continue as an advisor and board member. With nearly 30 years of banking experience, Ysseldyke previously held the position of Market President and Corporate Banking Executive for Old National Bank in Grand Rapids, MI.

Under Gill's leadership, Grand River Bank grew to over $500 million in assets. The bank, founded in 2009 by West Michigan business leaders and local investors, provides comprehensive financial solutions for businesses and individuals across West Michigan. Grand River Bank is a subsidiary of Grand River Commerce, Inc., traded under the OTCQX ticker symbol GNRV.

Positive

• Promotion of experienced banker Drew Ysseldyke to President & CEO
• Bank's growth to over $500 million in assets under previous CEO
• Continuity in leadership with former CEO staying as advisor and board member

Negative

• None.

News Market Reaction – GNRV

+3.78%

1 alert

+3.78% News Effect

On the day this news was published, GNRV gained 3.78%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

GRANDVILLE, Mich., Sept. 3, 2024 /PRNewswire/ -- Grand River Bank is pleased to announce the promotion of Drew Ysseldyke to President & Chief Executive Officer. This completes a transition process that began when Mr. Ysseldyke joined the Bank as president in April 2023. He succeeds Pat Gill, who has served as CEO since 2012 and who will continue as an advisor and board member.

Immediately prior to joining Grand River Bank, Mr. Ysseldyke was Market President and Corporate Banking Executive for Old National Bank in Grand Rapids, MI. A West Michigan native with nearly thirty years of diverse banking experience, Mr. Ysseldyke is a highly skilled leader with a history of building strong teams and delivering impressive results.

"It has been a joy to work alongside Drew during this transition period," said former CEO Pat Gill, who guided the Bank's growth to over $500 million in assets during his tenure. "He's the ideal person to lead the accomplished Grand River Bank team and will ensure that the Bank takes full advantage of its many unique opportunities across West Michigan. I'm grateful to have been a member of this outstanding team for the past dozen years and pleased to pass the baton to Drew." 

"We are grateful to Pat for his many valuable contributions to our bank, and we are excited about the opportunity this brings for Drew to enhance our operational performance, expand our reach and renew the promise of our commitment to West Michigan," said Robert Bilotti, Chairman and CEO of Grand River Commerce, Inc., the Bank's parent company.

About Grand River Bank
Founded by twenty-three West Michigan business and professional leaders and hundreds of local investors, Grand River Bank opened in April 2009. The Bank provides comprehensive financial solutions for businesses and individuals across West Michigan. The Bank is a subsidiary of Grand River Commerce, Inc., a public company traded under the OTCQX ticker symbol GNRV.

View original content:https://www.prnewswire.com/news-releases/grand-river-bank-promotes-drew-ysseldyke-to-president--ceo-302236811.html

SOURCE Grand River Bank

FAQ

Who is the new President & CEO of Grand River Bank (GNRV)?

Drew Ysseldyke has been promoted to President & CEO of Grand River Bank (GNRV), completing a transition process that began in April 2023.

What is the asset size of Grand River Bank (GNRV) as of September 2024?

Under the previous CEO Pat Gill's leadership, Grand River Bank (GNRV) grew to over $500 million in assets.

When was Grand River Bank (GNRV) founded?

Grand River Bank (GNRV) was founded in April 2009 by twenty-three West Michigan business and professional leaders along with hundreds of local investors.

What stock exchange is Grand River Commerce, Inc. (GNRV) traded on?

Grand River Commerce, Inc. (GNRV), the parent company of Grand River Bank, is traded on the OTCQX market.