BancInsure’s Chief Financial Officer to retire, interim replacement named

PR Log (Press Release) – Nov 03, 2009 – Oklahoma City, Oklahoma – Following a meeting of the board of directors last week in Oklahoma City, BMSI Holdings, Inc. - the holding company for insurance carrier BancInsure (www.bancinsure.com) - announced the retirement of Cynthia F. McInerney.  Mrs. McInerney has served in numerous roles, most recently as a director, Executive Vice President, CFO, Treasurer and Secretary of the Companies.  Her retirement becomes effective November 15, 2009.  

“Cindy’s presence in the organization pre-dates the inception of the first policy.  She was here on the first day of operations and her accomplishments will continue to benefit our policyholders, shareholders, and employees well into the foreseeable future,” said Rodney N. Sargent, President & Chief Executive Officer.”

“Cindy’s impact over the years has been truly significant,” said Galen T. Pate, Chairman of the Companies. “On behalf of the entire Board of Directors, we commend Cindy for her dedication, contributions, and commitment throughout her career.”

BMSI Holdings also announced the promotion and election of Mark Krienke to Vice President of the Companies.  Mr. Krienke, 44, was also named interim CFO, Secretary and Treasurer until a permanent replacement is named and he will report directly to the CEO.

“We are very fortunate indeed to have a financial professional of Mark’s caliber already in place and immediately prepared to assume the responsibilities of the position.” said Sargent, “His in-depth knowledge of our financials and accounting systems will allow Mark to transition smoothly into his larger responsibilities.”

Prior to his promotion, Mr. Krienke served as Director of Accounting at BancInsure, where he was responsible for controllership, financial planning and month-end reporting. Before coming to BancInsure, Mark was a Director at Claimetrics, where he was instrumental in implementing accounting, claims, and financial systems for the firm.

A graduate of Midwestern State University in Wichita Falls, Texas, Mr. Krienke is active in his church and community.

ABOUT BANCINSURE
Headquartered in Oklahoma City, BancInsure is a full-line independent insurer, licensed in 48 states.  BancInsure holds an “A- (Excellent) with a stable outlook” rating from A.M. Best and is endorsed by eighteen state banking organizations.

Contact:

Peter Risman
BancInsure
Director of Communications
5005 North Lincoln Boulevard
Oklahoma City, Oklahoma 73105
(m)   (210) 854-7121
(e)   prisman@bancinsure.com