American Savings Bank underwent leadership changes with two different positions in higher management, effective July 1.
The changes came directly from the office of Jack Kuntz, president and CEO of the company. The position of vice president will now be filled by Mike Veeneman and the position of executive vice president will be filled by Jack Stephenson.
As executive vice president, Stephenson will continue his role as the bank’s chief lending officer, and will now assume additional responsibilities in the areas of operations, retail and technology. Stephenson’s career with American spans over 30 years.
“Jack has always been an important part of our management team,” Kuntz said. “Our customers and their families and businesses have trusted Jack with financing their dream to own a home and with helping finance their businesses. This promotion is the next step in the continued growth of our company.”
During Stephenson’s tenure, the operational aspect of banking has changed with technology, but the fundamentals are the same as when the bank opened in 1892, to help friends and neighbors with their finances. Stephenson’s promotion comes at a time when American Savings Bank is seeing growth, both in the Portsmouth as well as the Cincinnati, Ohio, markets.
“We have greatly appreciated Jack’s efforts over the past 30 years,” said Kuntz. “He has been a dedicated employee, serving the loan needs of our community and ensuring excellent banking services. He is the perfect example of what American Savings Bank leaders should be.”
Mike Veenaman, who will soon become vice president, is newer to American Savings Bank, having joined the staff in 2014. He was hired to grow the Cincinnati Mortgage Origination Division (CMOD) and Kuntz said that he has been a significant contributor to the bank’s recent success and the promotion is well deserved.
Veeneman, who has successfully closed over 5,000 mortgage loans, came to American from Warsaw Federal Savings & Loan where he was VP of Residential Lending. With his strong background in mortgage lending, he has also served at other institutions in the Cincinnati area such as Franklin Savings, Progressive Mortgage Group and Midas Mortgage.
“Under Mike’s impressive leadership, American has quickly seen appreciable growth in the bank’s mortgage division,” continued Kuntz. “As we move into the future, we are committed to continued growth and success in this area. Mike and his team are the best in the business.”
Kuntz said he has made these moves to benefit the bank, its shareholders, and the community it serves.
“These promotions solidify Jack Kuntz’ vision for the future of American and the direction the Company is heading,” Leigh Anne Smith, assistant vice president of community relations at ASB said. “Jack Stephenson knows the corporate culture and the people in the communities we serve in this area and Mike Veeneman is the pulse of what is helping establish American as we branch out to the west. It’s a very exciting time to be part of our banking family.”
Reach Joseph Pratt at 740-353-3101, ext. 1932, or by Twitter @JosephPratt03.