Marquette Bank Names Seasoned Banking Executive President & CEO in Planned Leadership Transition
Rhea-AI Summary
Marquette Bank (OTCQX: MNAT) has appointed Elizabeth "Betty" Harn as President & CEO effective August 1, 2025, making her the only female CEO among the 25 largest Chicagoland banks. Harn succeeds George Moncada, who served for 45 years and will remain as a senior advisor and board member.
With over 25 years of experience at Marquette Bank, Harn previously served as Executive Vice President, overseeing operations, HR, IT, marketing, and governance. Under her leadership, the bank achieved its twelfth consecutive 'Outstanding' CRA rating. Marquette Bank operates 22 offices throughout Chicagoland and maintains assets over $2.0 billion, positioning it as one of the few remaining privately-held, locally-owned financial institutions in the region.
Positive
- First female CEO among top 25 Chicagoland banks, demonstrating progressive leadership
- Planned succession with 25+ years of internal experience ensures smooth transition
- Track record of success with twelve consecutive Outstanding CRA ratings
- Strong asset base of over $2.0 billion with 22 offices across Chicagoland
Negative
- Potential challenges in competing with larger banks and fintech companies
- Exposure to economic uncertainties including inflation and supply chain constraints
- Risk from deposits above FDIC insurance limits
News Market Reaction
On the day this news was published, MNAT gained 1.33%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Betty Harn Assumes Top Leadership Role
CHICAGO, Aug. 05, 2025 (GLOBE NEWSWIRE) -- Marquette Bank, the banking subsidiary of Marquette National Corporation (OTCQX: MNAT), announced today that long tenured bank executive Elizabeth "Betty" Harn has been named President of Marquette National Corporation and President & CEO of the bank effective August 1, 2025. She succeeds George Moncada who has served the organization for the past 45 years and will remain a senior advisor and board member. Harn becomes the only woman to currently hold the top job at any of the largest 25 Chicagoland banks.
Harn currently serves as Executive Vice President and now serves on the Boards of Directors of the bank and its holding company. In this role, she holds management responsibility for operations, human resources, information technology and security, marketing and governance. For the past decade, she has worked closely with Moncada in all aspects of the bank's major areas in anticipation of this planned succession, building relationships with the neighborhoods and customers served by the bank. Further, she has been involved in the planning of the bank's strategic vision for the next decade as part of the banks' senior executive leadership team. Harn, in collaboration with other bank team members, guided the bank to achieve its twelfth consecutive Community Reinvestment Act (CRA) 'Outstanding' rating - the highest performance rating from the Federal Reserve Bank of Chicago, during the most recent evaluation.
"Betty's leadership, strategic thinking and dedication are key attributes that will guide her successfully as President & CEO. She understands the dynamic banking environment, the need to bank within your own neighborhood and give back to those same neighborhoods, and fully supports our stable growth strategy that will continue to guide the bank," said Paul M. McCarthy, Chairman of the Board and CEO of Marquette National Corporation.
Having served the bank for more than 25 years, Harn has witnessed firsthand the impact the bank makes on the neighborhoods and families who have banked with Marquette for generations. Notably, Harn was instrumental in formalizing the Marquette Neighborhood Commitment - bringing together all of the volunteer services, economic development initiatives, community partnerships, and educational and charitable projects. The bank’s Marquette Neighborhood Commitment initiative has been recognized nationally with the American Bankers Association Foundation Community Commitment Award for Volunteerism and at the state level by the Community Bankers Association of Illinois (CBAI) with their Excellence and Innovation Award.
"I am truly honored to serve as President & CEO of Marquette Bank, a place I have called home professionally for almost three decades. I remain steadfast in our commitment to our neighborhoods, customers, employees, and partners as an independent neighborhood bank. I want everyone to love where you bank", said Harn. Outside of the bank, Harn serves on the Board of Directors of Mother McAuley Liberal Arts High School and The Port Ministries.
Marquette Bank has 22 offices located throughout the Chicagoland area, including: 20 banking centers, a north-side Chicago loan production office and a combined corporate administrative center/loan production office in Orland Park. With assets over
Special Note Concerning Forward-Looking Statements
This document contains, and future oral and written statements of the Company and its management may contain, forward-looking statements with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “bode”, “predict,” “suggest,” “project”, “appear,” “plan,” “intend,” “estimate,” ”annualize,” “may,” “will,” “would,” “could,” “should,” “likely,” “might,” “potential,” “continue,” “annualized,” “target,” “outlook,” as well as the negative forms of those words, or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events. A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. These factors include, but are not limited to: (i) the strength of the local, state, national and international economies and financial markets (including effects of inflationary pressures and supply chain constraints); (ii) effects on the U.S. economy resulting from the implementation of policies proposed by the new presidential administration, including tariffs, mass deportations and tax regulations; (iii) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics, acts of war or threats thereof (including the Russian invasion of Ukraine and ongoing conflicts in the Middle East), or other adverse events that could cause economic deterioration or instability in credit markets, and the response of the local, state and national governments to any such adverse external events; (iv) new or revised accounting policies and practices, as may be adopted by state and federal regulatory agencies, the Financial Accounting Standards Board or the Public Company Accounting Oversight Board; (v) changes in local, state and federal laws, regulations and governmental policies concerning the Company’s general business and any changes in response to the bank failures in 2023; (vi) the imposition of tariffs or other governmental policies impacting the value of products produced by the Company’s commercial borrowers; (vii) increased competition in the financial services sector, including from non-bank competitors such as credit unions and fintech companies, and the inability to attract new customers; (viii) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (ix) unexpected results of acquisitions which may include failure to realize the anticipated benefits of the acquisitions and the possibility that transaction costs may be greater than anticipated; (x) the loss of key executives and employees, talent shortages and employee turnover; (xi) changes in consumer spending; (xii) unexpected outcomes and costs of existing or new litigation or other legal proceedings and regulatory actions involving the Company; (xiii) the economic impact on the Company and its customers of climate change, natural disasters and exceptional weather occurrences such as tornadoes, floods and blizzards; (xiv) fluctuations in the value of securities held in our securities portfolio, including as a result of changes in interest rates; (xv) credit risk and risks from concentrations (by type of borrower, geographic area, collateral and industry) within our loan portfolio and large loans to certain borrowers (including CRE loans); (xvi) the overall health of the local and national real estate market; (xvii) the ability to maintain an adequate level of allowance for credit losses on loans; (xviii) the concentration of large deposits from certain clients who have balances above current FDIC insurance limits and who may withdraw deposits to diversify their exposure; (xix) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact the Company’s cost of funds; (xx) the level of non-performing assets on our balance sheets; (xxi) interruptions involving our information technology and communications systems or third-party servicers; (xxii) the occurrence of fraudulent activity, breaches or failures of our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; (xxiii) changes in the interest rates and repayment rates of the Company’s assets; (xxiv) the effectiveness of the Company’s risk management framework, and (xxv) the ability of the Company to manage the risks associated with the foregoing as well as anticipated. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.
For more information:
Patrick Hunt
EVP & CFO
708-364-9019 phunt@emarquettebank.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/18e6839a-21ec-4cc7-9d87-2264d34e9282.
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