On Tuesday, June 13, 2023, President & CEO Erik Skovgard submitted his resignation from Lincoln Savings Bank (LSB). The LSB Board of Directors accepted his resignation on Thursday, June 15, 2023.
Effective immediately, Emily Girsch has been named Interim President & CEO. Ms. Girsch started with LSB as Controller in 2002, was promoted to Chief Financial Officer (CFO) in 2007 and Executive Vice President (EVP) in 2009. Under her guidance as CFO, the Bank has grown from $200 million in assets and nine locations to $1.8 billion in assets, 17 locations, and a nationally recognized leader in the Banking as a Service (BaaS) financial technology space. A graduate of the University of Northern Iowa with a degree in accounting and a Master of Business Administration from the University of Iowa’s Tippie College of Business, she has been an integral part of LSB, including the launch of LSBX, and has demonstrated exceptional leadership skills, strategic vision and a deep understanding of the company.
"I appreciate the Board’s trust in me and embrace the opportunity to lead Lincoln Savings Bank during this transition period,” said Girsch. “Despite the economic headwinds facing the banking industry, I see immense opportunities for growth and a bright future for the Bank. Together, we will embrace this new journey, alongside our loyal customers and talented employees to achieve success."
Sally Hollis, Chair of the LSB Board, has assumed the role of Executive Chairman. In that role, she will work closely with the executive team and the board of directors to provide strategic advice, ensure continuity, maintain stability and protect the commitment to LSB’s employees, customers, communities and shareholders.
Ms. Hollis joined LSB’s Board in 2017 and was appointed Chair in March of 2022. She has a Bachelor of Science in Mechanical Engineering from Iowa State University and a Master of Business Administration from the University of Northern Iowa. After working at John Deere for 15 years, she spent the last 10 years leading Lanehaven Farms, Inc.
“I would like to express my gratitude to Erik for his valuable contributions as CEO and wish him well in his future endeavors,” noted Hollis. “Looking forward, the Board and I have full confidence in Emily’s ability to lead our company during this transition. We have an excellent team of customer-focused employee owners who provide outstanding customer service and support. I am excited about our future!”
Sally Hollis
Executive Chairman, Lincoln Savings Bank
Chair, Lincoln Bancorp Board of Director
Emily Girsch
Interim President & CEO
About Lincoln Savings Bank:
We may have been founded in 1902, but we are anything but dated. Yes, we are proud of our rich history because a solid foundation only enhances our focus on the future - helping businesses grow and customers protect what they have worked so hard to build. As leaders in financial tech and supporters of our communities, our commitment to better banking is real, and it is personal. Visit MyLSB.com or find us on Facebook. Member FDIC.
Contact:
Sue Carnahan, Lincoln Savings Bank, 641-484-4620
