Community Advocate Spotlight: Intercity State Bank President and CEO Randy L. Balk

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Intercity State Bank President and CEO Randy L. Balk.

Rose: How did you first get into the banking industry?
Randy: I was serving as an assistant director of admissions at Luther College in Decorah, Iowa. It was a position that I enjoyed a great deal but required extensive overnight travel. My wife and I discussed possible career alternatives, and as a result I reached out to my hometown bank about possibilities. I was hired to become a loan officer trainee at the branch office in Pepin, Wisconsin.

What is your favorite aspect of your role at the bank?
Being a community banker has been a huge blessing; spending so many years in a career sweet spot. To be able to walk in the doors with a passion for what you do each day is so important. I’m very grateful to have spent time with so many good, hard-working and bright people through the years. Building and strengthening our local communities in a variety of ways has been incredibly rewarding. We’ve:
• Coordinated with developers and municipalities, funding several new residential construction projects and subdivisions, as well as multifamily complexes, providing quality housing options to families and individuals;
• Spent time with entrepreneurs to establish and expand their businesses, and work through challenges and opportunities along the way;
• Built a residential servicing portfolio from ground zero, to provide fixed rate financing options to home buyers; and
• Encouraged our staff to give back through involvement and community leadership positions within our local non-profit and service organizations.

All these aspects of the work we do here have led to longtime relationships with our customers and community members, and those resulting friendships.

What do you wish the general public understood about the banking industry?
Recognizing the value of direct banker relationships. That is becoming more challenging in the retail sector, especially within larger markets. My feeling is that our industry’s greatest competitive advantage will remain aligned to the small business segment.

Where do you believe the industry’s greatest challenges are in the next three to five years?
The time and investment required to stay technologically competitive and relevant for community banks. This, along with the expanding regulatory requirements put a continuous strain on us. I’m stating the obvious to most people reading this. But a big shout out to WBA for your successful lobbying effort in helping our state government recognize the impact that Wisconsin banks have on their local economies. The resulting tax law changes will have a huge impact on our ability to stay in the game down the road.

Please describe your current role at your bank and share with us one of your more rewarding experiences (e.g., a time you had to go above and beyond to help a customer, a memorable customer interaction, stepping in to help the local community after a disaster, or something more personal, etc.).
President/CEO. I’m going to mention two experiences. I’ve been a guest presenter in up to 10 separate DC Everest High School personal economics and AP classes a year, for more than a decade. I reference some baseline economics, help the students prepare for some college and general budgeting considerations and primarily focus on strategies to minimize student loan debt. It has been worthwhile, and I’ve had a number of those young people later indicate how that helped them prepare for their next stage of life financially. And then this past summer, I received a call from a customer thanking us for taking a chance on her many years ago, providing funding for her home when no other financing options worked out due to her recent divorce at that time. She was dealing with Stage 4 cancer and passed away shortly after that phone conversation. Later her daughter came in to settle some estate matters, gave me a hug and indicated the credit decision to help her mom all those years ago provided her and her brother a stable and happy upbringing. All turned out well for them, and the family was very grateful. That affected me and stood out because of the recency of the event. As bankers, we certainly can impact people’s lives in a positive way.