After more than four decades in community banking, Steve Backlund has announced his intention to step down as Chief Executive Officer (CEO) of Backlund Investment Company. He will continue to serve as Chairman of Backlund Investment Company, State Street Bank, and Better Banks, working closely with leadership and the boards to ensure stability and consistency. Backlund began his career with Better Banks in 1979, advancing to the position of CEO and Chairman in 2002.

Succeeding Backlund as CEO is Mike Stratton, who has served as President of Better Banks for the past nine years. Stratton has been instrumental in guiding the bank’s growth and strengthening its community presence. In his new role, he will collaborate with the Bank Presidents to carry out the vision and strategic direction defined by the Board.

“I’m honored to assume the role of CEO of Backlund Investment Company and grateful for the opportunity to lead a company deeply committed to serving our customers, communities, and shareholders,” said Stratton. “Steve’s leadership has created a legacy of excellence, and I look forward to building on that foundation for the future.”

As Stratton steps into his new position, Marvin Streitmatter has been promoted to President of Better Banks. Streitmatter has managed the Lending department as Senior Vice President for the past decade, consistently demonstrating his commitment to delivering exceptional results to customers while cultivating a culture of collaboration and excellence within his team.

“This opportunity is a reflection of the incredible support I’ve received from my mentors, colleagues, and our community,” said Marvin Streitmatter, President of Better Banks. “I’m honored to take on this new leadership role and look forward to working with our talented team to deliver exceptional value to our customers. My focus will remain on operational excellence and, most importantly, continuing to earn the trust of those we serve.”

Better Banks also recently welcomed Grant Dietmeier as Assistant Vice President in Lending at its Peoria location. With extensive experience in business development, marketing, and sales operations, Dietmeier has a natural ability to foster long-standing relationships. He will be a valuable addition to Better Banks as we continue to fulfill our commitment to serving our local communities and developing strong customer relationships.

Additionally, board member Trent Scholl has been named Vice Chairman of Backlund Investment Company and Vice Chairman of both State Street Bank and Better Banks. Scholl brings extensive business knowledge and leadership experience outside the banking industry, along with strong connections across the Quincy and Peoria regions and beyond. His leadership and ability to build lasting relationships will provide a valuable perspective to the leadership team.

“Through these changes, our commitment to our employees, customers, and communities remains as strong as ever,” said Steve Backlund, Chairman. “Our family, alongside our leadership team, is deeply invested in carrying this legacy forward for generations to come.”

As an employee-owned, community-focused financial organization, Better Banks exists to serve the needs of its customers, communities, employees, and investors. Committed to upholding the ideals of traditional community banking, Better Banks has earned a reputation for consistently exceeding expectations by maintaining a strong record of growth, performance, and trust, while continually investing in modern technology to deliver the convenience and digital tools customers expect from their banking institutions.