Community Advocate Spotlight: Jeff Standafer, President and CEO of Citizens Bank, Mukwonago

Rose: How did you first get into the banking industry?

Jeff: I’m actually a second-generation banker. I grew up in a small town in the 1970s, and my dad was very involved in the local bank. I saw how connected he was — he knew everyone, was active in the community, went to the country club, rode in parades — and honestly, it just looked like a lot of fun. I also like to joke that I always wanted to be the banker in Monopoly.

When I was in high school, my dad’s bank had a “Junior Board of Directors” program for students. It wasn’t a real board, of course, but it gave us a chance to learn about banking. That experience stuck with me. When I went to college, I decided to major in marketing with the goal of working in banking.

Now, all these years later, I’m proud that both of my sons also work in banking — and one of them even works here at our bank as a mortgage loan originator. It’s been fun to see that next generation carry it forward.

Q: What’s your favorite aspect of your role at the bank?

For me, it’s all about community connection. Banking comes full circle — you help someone buy their first home or start a business, and years later, you’re working with their kids. That kind of long-term relationship is what community banking is all about.

I also really enjoy that, as President and CEO, I get to be involved in every area of the bank. This gives me a great view of how everything fits together — from lending and operations to marketing and technology. It’s rewarding to know that I can help guide where we’re headed over the next 10 years. We have a great group of employees, and I look forward to what we’re able to achieve together as a team.

Q: What do you wish more people understood about the banking industry?

I wish more people realized how many different types of careers exist in banking. We have people in IT, accounting, compliance, operations, marketing, sales, you name it — all of them are “bankers.” It takes so many different skills to run a bank, but most students never hear about that as a career path.

I like to say that most of us are “accidental bankers.” We didn’t necessarily plan to go into banking, but once we got here, we found it was a great fit. I’d love to see more high schools and guidance counselors talk about banking as a career option because there’s something for almost everyone in this field.

Q: Where do you think the industry’s greatest challenges will be in the next three to five years?

Two big ones come to mind: artificial intelligence and cybersecurity.

AI has incredible potential to help banks become more efficient and serve customers better, but we also have to be careful and thoughtful about how we use it. And on the other side, cybersecurity and fraud are huge challenges right now. Check fraud is actually increasing, and digital scams have become so sophisticated that criminals can spoof our websites or phone numbers and make it look like they’re the bank. Protecting our customers from that is something I think about constantly.

Q: Tell us a bit about your current role and one of your most rewarding experiences.

As President and CEO, I oversee all areas of the bank and work closely with our board and leadership team on strategy. But the part that sticks with me the most is seeing the long-term impact of relationships we’ve built through community banking.

One example that really stands out: Years ago, I was coaching youth baseball, and one of the player’s dads came up to me and asked who he should talk to about a business loan. I told him, “That would be me.” We ended up helping him buy a business using SBA 7(a) and 504 programs, which allowed him to keep local jobs and even add a few.

A few years later, we helped him buy another company in his industry to expand, and then during COVID, we were able to support him again with PPP loans. Today, his company is thriving, and he’s even become one of our bank’s shareholders. To me, that’s what community banking is all about — being part of someone’s journey from the very beginning, helping them grow, and earning their trust over time.