Stockholders at the May 21, 2012 Annual Meeting of the American Federal Corporation re-elected two Directors to the bank’s five-member Board. Directors Donald Sargeant, Crookston, Minnesota, and Gary Karlstad, Grand Forks, North Dakota, will serve three-year terms.
Dr. Sargeant joined the Board of Directors in 1990. He is Chancellor Emeritus of the University of Minnesota Crookston and Chairman of the Glenmore Foundation Board, Crookston.
Dr. Karlstad is a past owner and retired ophthalmologist of the North Dakota Eye Clinic and North Dakota Surgery Center in Grand Forks. He became a member of the Board of Directors in 1991.
Chief Executive Officer Steve Worwa, Fargo, North Dakota, was re-elected Chairman of the Board of Directors. Worwa joined American Federal as President, CEO and Director in 1989 and was first elected Chairman of the Board in 2002.
Other currently serving Directors are Executive Vice President Ross Olson and Pat Carey, both of Fargo. Olson joined American Federal as Chief Operating Officer in 1991. He became a Director in 1998. Carey is Vice President of Sales for the Smart Grid Division of Siemens Industry, Inc. in the United States. He was first appointed to the Board in 1995.