3.5 EDSR 11-08-2010iT~M #3.5.
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MEMORANDUM
TO: Economic Development Authority
FROM: Catherine Mehelich, Director of Economic Development
DATE: November 8, 2010
SUBJECT: Consider Appointments to EDA Finance Committee
The EDA Finance Committee serves as a subcommittee of the EDA for review and
recommendation of the Economic Development Micro Loan applications. The committee has
traditionally included representatives from the community banks, business, legal and EDA/HRA
Commissioners. The committee meets on an as-needed basis.
Mr. Chad Vitzthum, Lead Market President of First National Bank of Elk River has indicated in
interest in serving on the EDA Finance Committee. The EDA is asked to formally approve his
appointment to the Finance Committee.
Other members of the 2010 EDA Finance Committee include:
EDA Finance Committee
Nate Ovall (The Bank of Elk River representative)
Cliff Lundberg (Business representative)
Chris Carlson (Business representative)
Larry Toth (HRA representative)
Dan Tviete (EDA representative)
Paul Motin (EDA representative)
Recommendation
Staff recommends that the EDA consider appointing Chad Vitzthum of First National Bank of Elk
River to the EDA Finance Committee.
Mehelich, Catherine
From: Chad Vitzthum <cvitzthum@fnber.com>
Sent: Thursday, November 04, 2010 6:57 PM
To: Mehelich, Catherine
Subject: RE: EDA appointment to Finance Committee
Cathy,
Thank you for the opportunity to participate as a Finance Committee member. i am honored and appreciatikle of the
EDA's oonsideration. l personally appreciate the opportunity to be involved, in small part, in the betterment of the Eik
River business communit}f. As a representative of one of Elk River's longest established businesses and a locally owned
financial institution, we feel it very important for us to play a major role in such efforts.
I-iere is a personal bio for myself
I am a proud born, raised and eduoated Iowan {don't hold this against me;-} }. I have lived in Minnesota since 1993
primarily in the North West suburbs. i have lived with my wife and two daughters in Saint Michael, MN since
joining First National Bank of Eik River in 2003.
i attended and graduated from lows State University with a Bachelors of Business Administration with a Major in Finance
in 1992.
My banking career began in February 1993 with Marquette Bank in Monticello, MN. In my 17 year banking career nearly
all of it has been working directly with small to medium sized businesses and their owners. I have held various
management and fending position with financial institutions including, First National Bank or Eik River, Great Northern
Bank in St. Michael and Marquette Banks. I have been involved in a leadership role in community organizations such as
the I-94 West Chamber of Commerce, Rotary Clubs in Saint Michael and Mound, MN and a several Banking trade
organizations.
My current role with First National Bank of Eik River is that of Lead Market President. in this role my primary
responsibility is to serve as Market President for the Bank's Elk River Market. I also have management responsibilities for
the Bank's three other Market Presidents in Anoka, Rogers and Maple Lake as well as management responsibilities for
our investment Services division.
I hope this provide you with enough information regarding my background to come to a conclusion on my suitability for the
Finance Committee. if you require additional information please do not hesitate to contact me.
Sincerely
Chad Vitzthum