Community Advocate Spotlight: Port Washington State Bank CEO James Schowalter

WBA President and CEO Rose Oswald Poels recently sat down with President and CEO of Port Washington State Bank James Schowalter to chat about his admirable career in banking and the industry as a whole.

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

James: For most of my life, it felt as though I was born into banking. After all, I’m the fifth generation of my family to lead Port Washington State Bank (PWSB) over its 127-year history. But banking wasn’t always my plan. While I was at Marquette University, I was far more interested in pursuing an automotive career. I enjoyed the dealership experience I had between high school and college and learned a lot from it. After meeting my spouse, Jennifer, and thinking about our future family, however, I began exploring other paths. My older sister, Tracy, was working at Norwest Bank at the time, just before it became Wells Fargo Bank NA. She encouraged me to apply for their personal banker training program in Milwaukee. I did, and I fell in love with banking. I spent several years at Wells Fargo, learning from great people, many of whom I remain close with today, including a few who now work for my family at PWSB. My love for the industry is rooted in those early days of retail banking and the customer interactions that shaped me. 

 What is your favorite aspect of your role at the bank?

As president and CEO of our family-owned institution, my favorite part of the job is seeing others succeed. Every role I’ve held here, nine in total over the last 20 years, is now filled by someone even more talented than I was. PWSB is filled with people who genuinely care about each other and our community. My role is to guide, support, educate, and be present, but they’re the ones who make the magic happen. I truly enjoy knowing each person who works here, their families, and the incredible work they do. 

What do you wish the general public understood about the banking industry?  

There’s a lot I wish more people understood about banking, but if I had to choose one thing, it’s that every bank, large or small, plays an important and distinct role in our financial system. Most Americans can point to a moment when a bank stepped in at a critical time for them or their business. Banks power our communities in good times and bad times. Each institution has a unique structure, mission, and risk tolerance that serves a particular place in our financial ecosystem. 

In Port Washington alone, more than 60 of our employees come to work each day, serve customers, buy lunch, fill up their cars, shop locally, and give back to this community. And that same commitment is happening across the country. While big banks sometimes get a bad rap compared to community banks, the truth is we need institutions of all sizes to keep our country moving. 

Where do you believe the industry’s greatest challenges are in the next three to five years? 

Challenges will always exist in this industry, but consolidation is the one that concerns me most, especially for small communities. At PWSB, we’ve thrived in both smaller towns and larger cities. We love every community we serve. But increasingly, I’m seeing customers drive five, ten, or even 15 miles because the bank in their rural town closed. I’ve received calls from communities more than 45 miles away asking us to build a branch where none remain. While rising operating costs and the ability to attract talent are part of the issue, our rural communities still need us. We’ll continue to do our part, and I encourage other banks to rethink how they serve these vital areas of our state and country. 

Please describe your current role at your bank and share one of your more rewarding experiences.

As the fifth president and CEO in our bank’s existence, I’ve been fortunate to have incredible role models. Working side by side with my grandfather Ron, my father Steve, and my uncle Mark has been a gift. Not every day in a family business is perfect, but we’ve always shared the same goals, even if we approached them differently. These men are true gentlemen, deeply committed to our customers, employees, and the place we call home. 

A simple story from my first day at Wells Fargo, 24 years ago, captures what I love most about this work. The first person I ever helped was a man named Curt, who opened a checking account that day. He stayed with me as a bank customer for years, eventually following me to PWSB and bringing his wife Katie and their children along. It’s not a unique story in banking, but it’s a powerful example of community and loyalty. Every time Curt calls or stops in, I’m taken back to that first day at a small wood desk, wearing the suit my parents bought me, with no idea how much this career would shape my life. I remain grateful for all of it and for what’s still ahead.

 

Do you know a banker who should be recognized as a Community Advocate for the work that they do? Nominate them today by emailing Rose at ropoels@wisbank.com!