Ottawa Bancorp, Inc. (the 'Company'), the holding company for Ottawa Savings Bank, FSB (the 'Bank'), announced that Jon Kranov, President and Chief Executive Officer of the Company and the Bank, will retire from those positions effective August 16, 2019. Following his retirement, Mr. Kranov will continue to serve as Chairman of the Company's Board of Directors and as a member of the Bank's Board. The Board of Directors has appointed Craig M. Hepner to serve as President and Chief Executive Officer of the Company and the Bank effective upon Mr. Kranov's retirement.

Company announced that Craig Hepner will be Jon's successor in August. Craig joined when Ottawa Savings acquired Twin Oaks Savings Bank in 2014. With Ottawa, Craig has worked closely with Jon, the senior management team and the Board in his role as Executive Vice President and Chief Operating Officer, and as a member of company's Boards of Directors.

Mark Stoudt has served as Vice President and Chief Lending Officer since 2015. Prior to January 2015, he served as a Commercial Banking Officer for seven years. Mark will be promoted to Executive Vice President and Chief Operating Officer, and continue to serve as Chief Lending Officer following his promotion.

Also in August 2019, Marc Kingry, the Company's Chief Financial Officer since 2010, will be elevated to Senior Vice President of the Company and the Bank and will continue as the Company's Chief Financial Officer.