PriyaPatelTLDR: Sturgis Bank’s CEO, Eric Eishen, has retired after 45 years with the organization. Eishen began his career as a teller at the bank when he was 15 years old, eventually rising to become president, CEO, and a director of the holding company. The leadership transition began in July 2022, with Jason Hyska becoming the bank’s new CEO and Matt Scheske as president and COO. Sturgis Bank holds a leading position in St. Joseph County, with a 42.54% market share and $446.3 million in in-market deposits. The bank recorded $8.3 million in net income for 2023.
Sturgis Bancorp Inc., the parent company of Sturgis Bank, has completed its 18-month leadership transition with the retirement of CEO Eric Eishen. Eishen had a 45-year career with Sturgis Bank, starting as a teller at 15 and rising to become president, CEO, and a director of the holding company.
The leadership transition began in July 2022 when Jason Hyska succeeded Eishen as the bank’s chief executive officer and Matt Scheske became president and chief operating officer. Eishen remained president and CEO at Sturgis Bancorp. Directors appointed Hyska to serve as president and CEO of the holding company, effective immediately, after Eishen’s retirement.
Eishen is past chair and board member of the Michigan Bankers Association and served in various industry leadership roles that includes the Michigan League of Savings Banks, American’s Community Bankers, Michigan Bankers PAC and the Robert M. Perry School of Banking, and committees for the American Bankers Association. He also serves on the board and as treasurer at the Michigan Chamber of Commerce.
Sturgis Bank holds the leading position in its home market of St. Joseph County with a 42.54% market share and $446.3 million in in-market deposits as of midyear, according to the FDIC’s 2023 Summary of Deposits. The bank overall had $799.2 million in total deposits at the end of 2023 and $918.9 million in total assets…
