STERLING – The 127-year-old Sterling Federal Bank will have a new president at the start of the new year.
The bank announced Friday that Michael W. Shoger, president and CEO who has served various positions at the bank since 1989, will retire effective Dec. 31.
His successor will be Dean A. Ahlers, who has been with the bank since 2007. He currently is vice president of operations.
Before becoming president, Shoger had been vice president of lending, treasurer and CFO. He has been a bank director since 1994 and will remain on the bank’s board.
Shoger is a member of the American Institute of Certified Public Accountants, the Financial Managers Society, Sterling Noon Rotary, and St. Mary’s Catholic Church. He was also a board member of United Way of Whiteside County for 12 years and was chairman of the agency’s fundraising campaign in 2010 and 2011.
Ahlers, who also has has been assistant treasurer of the bank, holds the professional designations of Certified Financial Planner, Chartered Financial Consultant, and Chartered Life Underwriter, among others.
Before he joined the bank, Ahlers worked for Northwestern Mutual Financial Network. He is a member of Sacred Heart Catholic Church, is president-elect of Twin Cities Sterling Sunrise Rotary, is president of Home of Hope Cancer Wellness Center, and coaches youth football, basketball and baseball.
Sterling Federal Bank is a federal mutual savings bank with 10 offices in northwestern Illinois and eastern Iowa. It was chartered in 1885.