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Murphy to retire at WC Fed; Mourlam to assume reins

August 26, 2008
The Daily Freeman Journal

Webster City Federal will be wishing a fond farewell to one of its most familiar faces at the close of 2008 as President and CEO Phyllis Murphy retires, ending a distinguished career approaching four decades at the local financial institution.

Murphy began her career with Webster City Federal Savings Bank, subsidiary of Webster City Federal Bancorp, in May 1971. She was named president and CEO of the institution on Jan. 1, 1999. Her retirement will be effective on Dec. 31. However, she will retain her position as a director of the company until April 2009.

"My many years with the company have been a very rewarding experience. We are very fortunate to have a full staff of knowledgeable employees to continue the safe, sound, secure traditions our Company and subsidiaries are well known for. The years of experience of the management team and all employees are a great asset to our customers/shareholders," Murphy said.

Article Photos

The management team at Webster City Federal includes, seated from left: Steve Mourlam, incoming president/CEO/CEO; Phyllis Murphy, retiring president/CEO; Kyle Swon, incoming executive vice president/COO. In back are; Sheila Scott, Donna Downs, Jeff Kluver, Sherri Staley and Tami Hejlik.

Continuing a long-standing tradition of growing from within its own ranks, an equally familiar face will be taking the reins. Stephen Mourlam will be designated president/CEO/CFO of the company on Jan. 1, 2009.

Kyle Swon, with 22 years at the bank himself, will be named executive vice president/COO. And as another example of stability and longevity, Swon also has historical ties to the bank, as his father, Ellis 'Doc' Swon, led the institution for many years,

Jeff Kluver is vice president and CLO. Donna Downs is also a vice president and will assume the responsibility of treasurer. Other management team members include Sheila Scott, secretary and assistant vice president; Sherri Staley, assistant vice president and assistant treasurer; and Tami Hejlik, assistant vice president.

Webster City Federal Bancorp is the holding company for Webster City Federal Savings Bank. The company stock trades in the Pink Sheets under the symbol of WCFB.



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