8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) November 23, 2009 (November 20, 2009)

Princeton National Bancorp, Inc.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

0-20050	36-3210283
(Commission File Number)	(IRS Employer Identification No.)

606 South Main Street Princeton, Illinois	61356
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code (815) 875-4444

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

     On November 20, 2009, Princeton National Bancorp, Inc. (the “Company”) announced the appointment of Thomas D. Ogaard to succeed Tony J. Sorcic as President and Chief Executive Officer of the Company upon Mr. Sorcic’s retirement effective February 1, 2010. Mr. Ogaard is currently serving as the Company’s Executive Vice President and as a member of the boards of directors of the Company and its subsidiary bank, Citizens First National Bank. A press release related to Mr. Ogaard’s appointment is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

     (d) Exhibits:

          Exhibit 99.1     Press Release

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SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PRINCETON NATIONAL BANCORP, INC. (Registrant)
By:	/s/ Tony J. Sorcic
	Tony J. Sorcic, President and
	Chief Executive Officer

Dated: November 23, 2009

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EXHIBIT INDEX

Number	Description
Exhibit 99.1	Press Release

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EX-99.1

Exhibit 99.1

PRINCETON NATIONAL BANCORP, INC.
& CITIZENS FIRST NATIONAL BANK
APPOINT THOMAS D. OGAARD
PRESIDENT & CEO

November 20, 2009: Princeton National Bancorp, Inc., Princeton, Illinois (NASDAQ: PNBC), the holding company of Citizens First National Bank.

Princeton National Bancorp, Inc. today announced the appointment of Thomas D. Ogaard as President & CEO effective February 2, 2010. Ogaard joined the Company in August of 2009 and is currently serving on the Board of Directors of both Princeton National Bancorp, Inc. and Citizens First National Bank. Ogaard has an extensive background with both regional and community banks in the Midwest.

“I am very excited about this new opportunity with the Company and Subsidiary Bank,” Thomas D. Ogaard commented. “The current management has built a strong customer foundation, solid asset base and continuous earnings stream. I have joined an outstanding Company and look forward to being a part of its future successes.”

“I have been fortunate to join a fine management team,” continued Ogaard. “The Management and Boards of Directors are focused on the long-term safety, soundness, strength and viability of the Subsidiary Bank and the Company. The current economic times have impacted all financial institutions and will continue to be an issue. Citizens First National Bank has been serving customers since 1865 and will continue to meet the needs of individuals, businesses and public entities for many years to come.”

Current President & CEO Tony J. Sorcic commented, “Mr. Ogaard has been a fine addition to the management team. His knowledge of banking will be an asset as he leads the Company into the future. I look forward to the many successes of the Company which will further strengthen the franchise value and I am confident Tom, the Boards of Directors and Management will achieve many accomplishments going forward.”

Chairman Craig O. Wesner stated, “We are fortunate to have someone with Mr. Ogaard’s experience in banking assume the President’s position. He has demonstrated several strengths in his short time with the Company and will be a valuable asset. Although we are losing an excellent leader with the retirement of Tony J. Sorcic, Ogaard will continue the same community bank philosophy and customer and shareholder focus which has developed Princeton National Bancorp, Inc. into a fine institution.”

Ogaard has a Bachelor’s of Science in Business Administration from Bemidji State University, in Bemidji, Minnesota. He has been active in such organizations as Rotary, March of Dimes, Chambers of Commerce, Habitat for Humanity, United Way, Junior Achievement, and has served as a youth baseball, softball and hockey coach and has been an active member of his church. Tom and his wife Mary Kay look forward to continuing their involvement in community activities and helping the worthwhile organizations that serve the area.

Inquiries should be directed to: Lou Ann Birkey, Vice President — Investor Relations,
Princeton National Bancorp, Inc. (815) 875-4444,
E-Mail address: pnbc@citizens1st.com

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