Two major shareholders of a small Illinois banking company say its management is spending on "excessive" perquisites and shouldn't build an expensive new branch.

Douglas M. Kratz and Perry B. Hansen, who together own 9.6% of First Financial Bancorp, Belvidere, said its expenses are out of line for a $94 million-asset company.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.