CEO Succession Announcement

The Bennington State Bank Announces CEO Succession Plan

Salina, KS– August 6, 2020– The Bennington State Bank (BSB), a leading independent community bank in Central Kansas, today announced that its Board of Directors has unanimously elected Darren Gragg to succeed Burke Matthews as President and CEO of BSB, effective January 31, 2021. Matthews will continue to serve as President and CEO for the remainder of 2020 to ensure a seamless transition, and carry on as President Emeritus for the next several years.

“I have had the pleasure of working with Darren (Gragg) over the past 18 years and very closely over the past six years.” said Matthews. “I am highly confident he brings the skills and experience to deliver the leadership that is needed today, while building and preparing for tomorrow. My confidence comes from spending nearly two decades with Darren in multiple areas of the bank and his loyal commitment to BSB and our customers is exactly the person we need for this role.”

While BSB has historically been led by a Berkley family member, “The past six years has been an extremely strategic and thoughtful process.  The resulting succession plan includes many individuals within the organization to create the structure the Bank will need to continue our success.” said Matthews.

Mike Berkley, Chairman of the Board of Directors, stated, “Darren (Gragg) started in the IT Department 18 years ago and aggressively learned all aspects of our banking operation. The team that has been assembled for succession includes veteran employees along with newer employees. I am confident these efforts have created a well-rounded team for many years to come which is paramount in these important transitions.  The Bank is in good hands.”

Berkley also stated, “We are confident in the succession plans of leadership at BSB.  The team has shown a willingness to take on complicated challenges with a track record of delivering outstanding results. We are confident that Darren, along with others in management, will continue the legacy of commitment and excellence towards serving our customers and communities, which are the attributes that are the cornerstone of success for BSB.”

Commenting on his appointment, Gragg said, “It is an honor to assume the role as President and CEO at BSB. Working along-side the most talented and committed team of bankers to serve our communities and customers is a privilege. I am honored to have the opportunity to lead this great team and continue the tradition of excellence at BSB.”

About Bennington State Bank

Bennington State Bank was founded on the principles of integrity, trust, and fostering long-term customer relationships through the delivery of excellence in customer service and financial products including state-of-the-art online and mobile platforms. For nearly 130 years, BSB has served the financial needs of their customers, offering a full range of banking services to Central Kansas and beyond.   BSB is a full-service financial provider, offering Consumer banking, Ag solutions, and Commercial banking, including Trust and Wealth Management, Portfolio Management and Employee Benefit Services.  BSB is made up of employee-owners with the Employee Stock Ownership Program owning more than 10% of the Bank.  With nearly $800 million in total assets, BSB has locations in Salina, Kan., Bennington, Kan., Minneapolis, Kan., Lucas, Kan, Sylvan Grove, Kan, and Wamego, Kan. Always committed to local decision-making, excellent customer service and community investment, BSB is your trusted hometown bank. For more information please visit www.bsbks.com. Member FDIC.

BSB Trust and Wealth Management division is a full-service investment advisory, trust and custodial organization serving accounts of all sizes combining the expertise, resources and strength of a large asset management firm with the personalized service of a community bank. Clients receive tailored service with the advantage of a wide range of trust management and custody services, including financial & retirement planning, investment management, individual retirement accounts and specialized asset management.

Trust & Wealth Management Investment Products are: NOT FDIC insured • NOT deposits of the bank • NOT guaranteed. Subject to investment risks, including the possible loss of principal invested