Martin Sutter, chairman of GenBanc, Inc., announced the stock valuation as of January 31, 2023, to increase from current market fair of $31 to the new price of $33.25. This is a 7.25 percent increase in stock value.
GenBanc, Inc. is the holding company of the 120-year-old GenoaBank, as well as GenoaFinancial. The parent company was created to build a leading community bank franchise delivering high quality customer service while committed to stakeholders’ results. Through its bank subsidiary of Genoa-Bank and GenoaFinancial, they operate a network of 10 branch locations serving individual consumers, small businesses, families, farmers and non-profit entities. Its banking branches are located in its core footprint of northwest Ohio.
“GenoaBank continues to demonstrate solid financial performance due in large part to an effective partnership with our customers, our employees and our shareholders,” said Mr. Sutter, chairman, president and chief executive officer. “We continue to grow, and we are proud to reward our dedicated and loyal shareholders.”
