Tag Archive for: Community Advocate

Posts

,

Community Advocate Spotlight: Lake Ridge Bank CEO Jim Tubbs

Jim Tubbs

The following is a brief interview between WBA President and CEO Rose Oswald Poels and CEO of Lake Ridge Bank Jim Tubbs.

Rose: How did you first get into the banking industry?
Jim: As they say, it was “in the blood.” My father, Tom Tubbs, my grandfather, Monroe Tubbs, and my uncle, Bill Morrisey, were all bankers. In addition, by the time I was in college, I had three brothers who were bankers. Ironically, my dad had a strict nepotism rule, so none of us worked for him at the Bank of Sun Prairie.

As I was growing up, I saw the love and passion my dad had for the bank he worked for and more importantly, how his bank truly was making a difference in the City of Sun Prairie. I witnessed his commitment to the civic organizations and the lifestyle of a true community banker – being actively involved and engaged!

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

I enjoy working with our Executive Team in order to set the “Tone at the Top” and motivating others so we can be as successful as possible. (BTW – in my opinion, success is not only measured by your Income Statement, but there is also so much more, such as, providing a great place to work for all of our associates, creating a great client experience, and truly making a difference in the communities we serve … ) Selfishly, since my career path brought me up through the “lending side” of the bank, one of my passions still is getting out and meeting with our clients.

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

Probably the regulatory burden we are governed by. All of us in the industry want our clients to enjoy their experience while interacting with us. Unfortunately, as we abide by the regulations, I can appreciate why customers get frustrated about the magnitude of paperwork. (Do you remember what you personally went through the last time you applied for a mortgage or refinanced?) All of us aren’t trying to make if difficult, we are just abiding by the rules. Obviously, this is just one of many different examples…

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

Probably not a big surprise, but I believe the greatest challenge will be fraud and cyber-risk. Already the stories are endless where we hear of clients being hacked by washing of checks, wire fraud, debit card hacked, elderly abuse … and then theylook to us to either compensate them for their loss or fix their problem. These are merely examples of “exterior” things we need to address, much less, making sure we are keeping our own data and associates from being hacked.
The concern lies in the level of sophistication that we have already witnessed over the last two to three years. Now with artificial intelligence in the mix, I think this problem will only become more of a burden on our industry.

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.).

My role at Lake Ridge Bank is CEO. As a quick reminder, back in 2023, I was President/CEO of the State Bank of Cross Plains and my good friend, Paul Hoffmann, was President/CEO of Monona Bank. We merged the banks together to create Lake Ridge Bank. (Paul is our President.) Probably one of my most rewarding experiences as a community banker was in August 2018, when the Cross Plains region received a record amount of rain in an overnight storm which caused the Black Earth Creek to rise to record levels. Besides our bank lobby having three inches of water flowing through it, the region was devastated with homes and businesses completely flooded. After walking around the community, in my knee-high rubber boots, surveying the damage, a team of us started to formulate a plan on “how can we help.”

In a short period of time, the plan which included:
• Setting up an account where donations could come in and how families impacted could apply for disbursement.
• Establishing a 0% loan arrangement.
• Actively working side-by-side with other organizations, such as United Way and Team Rubicon, so we had an organized effort.

It was incredibly rewarding to see how a community and region can come together in a time of crisis and need. Certainly, a proud moment witnessing how our community bank was making a positive impact!

 

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!

/by
, ,

Community Advocate Spotlight: Northern State Bank President John H. Beirl

The following is a brief interview between WBA President and CEO Rose Oswald Poels and President of Northern State Bank in Ashland John H. Beirl.

John H. Beirl

Rose: How did you first get into the banking industry?
John: I mostly credit my education, at the University of Wisconsin – Madison, for my banking career. Neither of my parents were college grads. My mother was a secretary. My father was … well honestly … an alcoholic. Early on, I realized my only ticket out and up would be through a good education.

I couldn’t afford private college or out-of-state tuition, so I opted for Madison. First Wisconsin – Madison was my first banking job after obtaining my MBA. After First Wis, I continued to learn through positions at First of America – Michigan and NorthLand Bank of Wisconsin. Throughout my career, I have held many titles; branch manager (yes, with teller duties), consumer, mortgage, commercial lender, chief loan officer, and president.

After years away, I was offered a position to come back home — to work at the last remaining community bank in Ashland; Northern State Bank. I am living proof that you can go home again.

What is your favorite aspect of your role at the bank?
I value building relationships with my customers, fellow employees, supporting entities, and our community. Strong customer relationships are the foundation of community banking. I know the people in my hometown. A lot of them are my customers. I know their families. I know their life stories. Over the years, we’ve built a confident trust. They know I will be there for them … offering sound and honest financial options.

My fellow workers are my second family. I spend more of my waking hours with them, than I do at home. We are on the same team. We share our lives.

Building relationships with key external support partners and vendors helps us provide quality customer service. We cannot do everything internally. We form bonds with people and organizations we know we can rely on.

When our community improves, we all do better. I grew up in Ashland. My roots run deep. I volunteer … lots. We are in this together.

What do you wish the general public understood about the banking industry?
Community banking is built on trust. Most community bankers are not paid on commission. We do well when our customers succeed. Community bankers listen and match our products and services to wants and needs – to make lives better. It’s what we do. It sets us apart.

Where do you believe the industry’s greatest challenges are in the next three to five years?
I believe community banks’ greatest challenges are succession planning and finding good people who will be committed to our industry.

Do we have qualified people who will continue to carry the torch? If not, where will they come from? What about the work ethic?

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.).
I view my current role as managing, mentoring, and transferring longstanding relationships. Managing and mentoring means accepting change yet acknowledging and honoring the values, processes, and procedures that got us here … and made us successful.

Transferring my customer relationships will require both time and great care. My loan portfolio was sizeable and built over decades. Our customers are our greatest assets.

When I was grade school age, my mother worked as a loan secretary at Northern State Bank. We lived on the east side of Ashland and the Little League parks were on the west side. The bank is smack-dab in the center of town. Almost every day, a group of us sandlot kids would ride our banana bikes
to play baseball. After many a hot summer games, we would bicycle home and stop at the bank for a drink of cold water (at their water fountain) and I’d say “Hi!” to mom.

My mother retired in 1984 and was diagnosed with breast cancer that same year. She passed, after an anguishing battle, six years later. She would never live to see her son come back home and become President of Northern State Bank. Miss you, Mom!

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!

/by
, ,

Community Advocate Spotlight: Bank of Mauston President and CEO Molly Scully

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Bank of Mauston President and CEO Molly Scully.

Molly Scully

Rose: How did you first get into the banking industry?
Molly: My stepfather was a banker his entire life and from an early age, I was inspired by his work ethic and commitment to our community. He was dedicated to providing excellent service to his customers and to strengthening the community we lived in. He believed in giving back and set a remarkable example of how a community bank should actively engage with and support the community. I started working for him at Bank of Mauston when I was in college. I did everything from receptionist and teller work to filing and shredding documents.

What is your favorite aspect of your role at the bank?
My favorite aspect of my role is seeing the impact that our bank has on our community through donations, sponsorships, and employee giving. I am proud of how our bank and our employees partner with the communities we serve.

In addition, whether it’s supporting local businesses with different lending options, helping families buy their first home, or continuing to provide the most efficient products and services to our customers, I love that banking is more than just numbers, it truly is about building relationships.

What do you wish the general public understood about the banking industry?
I wish the public understood just how heavily regulated the banking industry is, and while the regulations can at times feel like a burden, they exist to protect customers and maintain trust in the financial system. Also, customers are often confused about interest rate changes from the Fed and how it relates to their accounts. It would be helpful if the general public understood the interest rate risk that banks need to manage.

Where do you believe the industry’s greatest challenges are in the next three to five years?
First, I think navigating the evolving regulatory environment is always a challenge. Second, although banks have made great advancements in cybersecurity monitoring technology, I also think that prioritizing the added expense for cybersecurity tools, employee training, and threat detection systems will continue to be challenging. Third, I think since interest rates surged in 2022 the impact of interest rates will remain a challenge. Despite the fact that rates have stabilized a bit, the economic environment remains volatile. Regardless of the challenges facing community banks, I do feel that banks will have great opportunities to leverage AI for enhancing fraud detection and risk management. It has been exciting to explore how these technologies can drive efficiency and detect fraud in real-time to limit financial losses.

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.).
My current role at Bank of Mauston is President and CEO. One of the most rewarding aspects of my career has been the opportunity to hire and develop our staff. Banking is a people-driven industry, and I firmly believe that our bank’s greatest asset is the talent and commitment of our team. I am
truly blessed to work with the amazing people at the Bank of Mauston. I am also very proud of how we partner with our community. Most notably, my stepfather started a food drive over 41 years ago to support our local food pantry that continues today. Every November the bank hosts a food drive
and matches donations that are raised. In addition, the Bank also partners with the Mauston High School Key Club. Their fundraising efforts have taken our community food drive to new levels and have impressively set records in our state for money raised and food collected. Over the past 41 years, together as a community, we have raised over half a million dollars.

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!

/by
,

Community Advocate Spotlight: Edward H. Schaefer, First Federal Bank of Wisconsin

Edward H. Schaefer

The following is a brief interview between WBA President and CEO Rose Oswald Poels and First Federal Bank of Wisconsin CEO Edward H. Schaefer.

Rose: How did you first get into the banking industry?
Ed: My first banking job was interning during the summers in college at First Wisconsin Bank. One summer I worked as a teller at Capitol Drive and Teutonia Avenue in Milwaukee. I loved working the hectic paydays before ACH Payroll existed where we verified identities via signature cards. Another summer I worked in the international department doing workout support on troubled loans in Central America. Very interesting! I never saw myself making a career out of community/commercial banking, but a bank recruited me out of business school and now I have been directly or indirectly involved in the industry for over 40 years.

What is your favorite aspect of your role at the bank?
I enjoy the mentoring and team development aspect of running a business. I had a few mentors along the way that believed in me and provided me the skills to be successful. They were tough but fair and I have followed in their footsteps where I can look back and see the many executives who I mentored as junior bankers that are now very successful running numerous banks throughout Wisconsin.

What do you wish the general public understood about the banking industry?
I wish the public understood the many types of financial services companies and their differences. Although money is the commodity we use in banking, we all serve different niches. Community banks provide value-added service and they support their communities, while providing quick local decision making. We call that “The Community Bank Difference” at First Federal. Too often we are treated just like a number at larger financial institutions. Not at a community bank, we believe every business/individual should have a great attorney, a great accountant, a great insurance agent and a great banker to give them the advice and feedback to be successful.

Where do you believe the industry’s greatest challenges are in the next three to five years?
Our industry’s biggest challenges can be our biggest opportunities.

1. People/Staffing: How are we going to fill our people/staffing needs in the future? The big banks used to have training programs, but now they train bankers to only do specific tasks.
The generalist bankers who understand the many facets of a bank are hard to find. It is ironic that we used to get that talent from the larger banks, now they are hiring our people. It is also amazing how many community bankers are now in roles at the numerous credit unions, regional banks, and national banks in Wisconsin. The opportunity for us is that we must continue to mentor and train to develop the team that best serves our customers’ needs, lives within our value system, and wants to be a well-rounded banker in a community bank setting.
2. FinTechs/Credit Unions/Consolidation: FinTechs are going to serve niches more efficiently than we are able. Credit unions are going to continue to grow until there is a severe credit event. Consolidation is only going to accelerate. Fourteen out of the top 20 financial institutions in the state are credit unions. Banking charters have declined by half as well as credit union charters. The public does not care because there are so many more bank and credit union branches than there were 30 years ago (five times as many). The opportunity is to profitably grow your bank utilizing technology to be the bank of choice and provide the value-added service your customers want and deserve.
3. Size: Even with technology, the cost of running our businesses must be paid for over more earning assets. The $50-$100M banks and credit unions are almost all gone. The $100-$250M banks are quickly consolidating, and I believe if you are not a $500M bank (unless family owned) in the next five years you will not be able to make a proper  return for your shareholders/ investors.

Please describe your current role at your bank and share with us one of your more rewarding experiences.
I am currently CEO of First Federal Bank of Wisconsin and president and CEO of our holding company, FFBW Bancorp. I have been a part of helping turn around five struggling/failing banks in my career. It has been truly rewarding watching bankers that I have challenged exceed my expectations, realize their potential, and become exceptional bankers. In one case a banker told me she was going to show me that she could do the job I challenged her to do. She is now a senior executive at a $1 billion+ bank. That is very rewarding to me.

You could probably call me a turnaround specialist or a profit enhancer. Putting out fires, putting a platform and team in place, developing the necessary cultures that lead to success is very demanding work. However, as the end of my career nears, providing the value-added service to our customers/prospects and running a bank to me is easy, it is the successful businesses and bankers that I have had a small part in mentoring that makes me most proud. Well, maybe second to my wonderful family.

/by
,

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

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.

/by
, ,

Community Advocate Spotlight: Independence State Bank President and CEO Thomas L. Jensen

Thomas L. Jensen

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Independence State Bank President and CEO Thomas L. Jensen.

Rose: How did you first get into the banking industry?
Tom: As college graduation approached at Beloit College, I began a search for a career in the finance industry. I approached John Eldred (president/CEO) for an interview about entry level positions at the 1st National Bank of Beloit. Dennis Staaland (EVP) was also asked to join the “interview.” I soon learned that there were no positions available, but Dennis pulled me aside and explained that a solid foundation in financial services could be as a National Bank Examiner with the Comptroller of the Currency (as he had done). He provided me with employment brochures, names, and phone numbers of previous colleagues and encouraged me to apply. Later that summer (1986), I was assigned to a training crew in Milwaukee, Wis. and started my banking career with the OCC.

What is your favorite aspect of your role at the bank?
I am surrounded by an exceptional team and Board of Directors at the bank. My trust in the team affords me the flexibility to serve my community in ways that don’t necessarily require me to be at the bank. I have been a volunteer firefighter for over 30 years, and our team understands that there may be times that the pager goes off and I have to respond. The same is true for community events (Lions Club, Water and Sewer Commission, church events, etc.). There is nothing more satisfying than actively serving your community and making a difference.

What do you wish the general public understood about the banking industry?
I wish the general public understood how heavily regulated the banking industry is. I learned early in my career of the sheer magnitude of rules, regulations, and guidance that bankers are expected to understand and comply with. This can be a daunting task and can sometimes be perceived by the public as being difficult to work with. Banking is not the same as it was 60 years ago. This is especially true for smaller community banks who are generally expected to comply with the same regulations as the largest banks in the country.

Where do you believe the industry’s greatest challenges are in the next three to five years?
Artificial intelligence (AI). The cyber risk associated with AI is obvious. However, while predictive modeling, automated loan approval, and optimal deposit gathering could all benefit from AI, I believe consumers will still demand meaningful business relationships and human interaction well into the future. Automated processes are great in a perfect world; unfortunately we don’t live in a perfect world. AI can’t make judgment calls, and humans are able to identify specific situations and critical calls that AI may not be able to. It might be difficult to explain cost over-runs, a death in the family, or strategic direction of a family-owned business to an AI Bot.

Please describe your current role at your bank and share with us one of your more rewarding experiences.
My current role at the bank is president/CEO. We pride ourselves in being a community bank. This may sound corny, but each and every day in a community bank is rewarding. We hope to be worthy stewards of our customers’ financial assets, providing quality products and services in a thoughtful and protective manner. I frequently remind our team that it isn’t so much what we have to offer, it’s what we give back to the community that is most important.

/by
,

Community Advocate Spotlight: Laine Lazers, Farmers State Bank of Waupaca

Farmers State Bank of Waupaca
President and CEO Laine Lazers.

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Farmers State Bank of Waupaca President and CEO Laine Lazers.

Rose: How did you get started in banking?

Laine: It was really by chance that I became a banker. I had just graduated college in 1983 with a degree in accounting. I’m from Marshall, Wis. and one day shortly after graduation I received a call from our local banker, Melvin Martin, who was at the time the executive vice president at Farmers & Merchants State Bank of Waterloo & Marshall and a family friend. He knew I had graduated, and he asked me what my plans were and if I ever thought about working in a bank. I never gave banking much of a thought, but decided to interview for the position and was hired. Here I am 41 years later, still proud to be a community banker. Melvin was a wealth of knowledge when it came to business and banking. I was very fortunate to train with someone who was so willing to share that knowledge, which has helped me throughout my banking career.

What is your favorite aspect of your role at the bank?
I enjoy all the aspects of my job. I’m really fortunate to work in a community where you get to know so many of your customers, and I enjoy being able to sit down with them and hear their stories and find out what we can do to help them with their personal or business needs. I’m also very blessed to be part of such a talented and committed Board and staff that make our customers and communities we serve, their number one priority.

What do you wish the general public understood about the banking industry?
I wish the public understood that when the term ”bank” is used, we are not alike. The community bankers play such an important role in our markets. We take the time to listen to our customers, help them find solutions to their concerns and when loan decisions need to be made, they are made locally. I also don’t think the public understands how much the community banks financially contribute, large or small, to clubs, local events, charities, and sports teams in our communities. Our employees are also volunteering their time to support these events. In many cases, the credit unions and large banks only seem to focus on their larger markets when it comes to contributions.

Where do you believe the industry’s greatest challenges are in the next three to five years?
Keeping up with the ever-changing technology and the costs that are associated with new technology will be a challenge for community banks along with cybersecurity and making sure customer information remains safe in our institutions.

Being able to navigate through all the regulatory changes that continue in our industry and making sure we have compliance people on staff who can keep up with the changes is another challenge.

Finding, retaining, and developing staff who can step into leadership roles as baby boomers exit our industry via retirements will be key in keeping community banking alive and well into the future.

Please describe your current role at your bank and share with us one of your more rewarding experiences.
As CEO I have had several rewarding experiences during my career, but I would have to say that as difficult as it was during the first few months of COVID-19 in 2020, it was remarkable to see how our staff was able to handle the volume of PPP loans, stimulus checks, and mortgage loan refinances that all came at us at once. Everyone rose to this tremendous challenge, worked as a team, and did their part to make sure our customers were taken care of in a timely and efficient manner given the circumstances we were dealing with at the time with our lobbies closed and sometimes working with limited staff.

/by
, ,

Community Advocate Spotlight: Steve Peotter, One Community Bank

Steve Peotter

The following is a brief interview between WBA President and CEO Rose Oswald Poels and One Community Bank President and CEO Steve Peotter.

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

Steve: From a young age, I’ve known that my career path would be centered towards helping others, alongside a strong interest in finance. My career began in consumer finance, which provided a foundation to explore other areas including mortgage lending, retail banking, and commercial lending. It’s been rewarding to experience all aspects of banking and ultimately lead to my current role in community banking. Being involved in my community has always been a passion of mine. Currently being in community banking is the best approach for me and it allows me to continue assisting others while investing in communities.

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

Supporting colleagues in their professional journey is something I truly enjoy. From promotions to new roles, or simply enhancing existing responsibilities, the support we provide for each other is inspiring. Witnessing the growth and joy of our team members at One Community Bank is my favorite aspect of our work culture.

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

Main Street community banks are different than Wall Street banks. Community banks are here to focus on clients, whether that be local small business owners, first time homebuyers, high school graduates, or other members of the community. We specialize in serving clients, supporting colleagues, and investing in our communities. Multinational banks headquartered on Wall Street have a different focus, which may not center on their clients. With the current growth of digital banking, community banks can deliver the same online banking experience that multinational banks do. As locally owned institutions, community banks are committed to surpassing expectations and providing outstanding service.

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

I believe the industry’s greatest challenge in the next three to five years will be bringing in young professionals. Community banks strive to provide work life balance for colleagues and have the ability for a rapid career progression if you desire it. We have a great ability to provide purposeful work while continuing to grow and evolve in our industry. To young individuals considering their next career steps, I highly recommend looking into community banking. It’s a highly rewarding and exciting field.

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.).

Throughout my career, I’ve had many rewarding experiences. One that comes to mind took place back in 2020. The pandemic was just beginning and happened to overlap with Girl Scout cookie season. I encountered a group of Girl Scouts selling cookies in person at the entrance to a grocery store near one of our bank locations. In talking with the troop leader, her anxiety around being in person with her troop interacting with the general public was apparent. She had the desire to support the girls’ cookie sales goal, but also keeping them safe in what at the time was an unknown and very scary environment.

In that moment, I decided Team OCB would purchase all the boxes of cookies the troop had with them. This decision wasn’t about the cookies; it was about enabling the troop to hit their goal for the Girls Scouts and allowing the troop to head home safely. Bringing those cookies back to OCB and sharing them with my colleagues was another opportunity to spread kindness and a reminder of the impact of supporting our community.

/by
, ,

Community Advocate Spotlight: Jeff Johnson, First National Bank of River Falls

Jeff Johnson

The following is a brief interview between WBA President and CEO Rose Oswald Poels and First National Bank of River Falls President and CEO Jeff Johnson.

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

Jeff: After graduating from UW–Whitewater in 1987, I landed my first “real job” as a bank examiner with the Federal Deposit Insurance Corporation (FDIC) in Milwaukee. As you might imagine, it was quite an education for a 22 year old, as the savings and loan crisis was at its peak. The FDIC hired hundreds of new college graduates throughout the country in the late 80s, and we were thrown right into the fire despite the fact that most of us really had little education in our industry.

Our office traveled quite a bit, and we spent a great deal of time in New England, New York City, and the southwest part of the country. In my mind, there is no better opportunity for someone to learn about banking than to take a job out of college as a regulator.

After seven years with the FDIC, I decided that I had enough of the travel, and ended up taking a position as a lender at PremierBank in Fort Atkinson. I spent most of the next 15 years in the Fort Atkinson/Jefferson area, before my family and I came up to River Falls in 2009 to take the CEO job at First National. Throughout my career I have worked in a variety of areas, including lending, human resources, and bond portfolio management.

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

Like everyone who is reading this, I am a huge fan of the community banking model. Having the ability to quickly and efficiently help customers with their financial needs is so very important, and community banks do a better job of that than anyone. I’m certainly biased from working in community banks for the last three decades, but the ability to make local decisions is a huge differentiator, and it sets us apart from many of the
larger banks.

Also, I am so grateful that our bank ownership group, the Smith family, allows us to make such a positive impact throughout our communities. In addition to significant financial gifts, our staff regularly donates over 3,000 hours of their personal time to support local causes that they are passionate about. Banks are only as strong as their communities, thus it is our responsibility to give back as much as we are able. I am blessed to work alongside such a fantastic group of teammates that share the same desire to give back to others. I wouldn’t trade them for anyone!

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

That we are not all the same. There is a big difference between community banks, large mega-banks, and credit unions. Of the three, we (community banks) are much more reliant on the success of our customers and the communities that we serve. And like I said earlier, nobody provides more efficient customer service than community banks. Also, I am constantly astounded by the fact that the vast majority of people have no idea that credit unions are tax-exempt. I can’t tell you how many conversations I have had with people over the years about this subject, and it is rare when I come across an individual that is aware of this advantage that credit unions have over others. I’m not sure it will happen in my lifetime, but I remain hopeful that someday we will all be able to play on an equal playing field.

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

Short term, our biggest challenge as an industry will be treading water until rates start to decline. The housing market has grounded to a complete standstill due in large part to high rates, and community banks like us typically rely on this area to provide significant revenue.

Long term, it will be really important for us to promote the fact that community banking is a great place to build a career. Where else do you have the opportunity to help others with their financial needs, build relationships with teammates, and give back to your community? We have so many different career paths — lending, finance, accounting, customer service, marketing, IT, human resources, and many others. There are a large number of current bankers in the 55–65-year-old range and nearing retirement and finding talented individuals to provide succession will be a big challenge for all of us.

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

After nearly 37 years in our industry, there are so many things that come to mind. People that I have worked with, non-profits that we have helped through financial support or volunteerism, bank scholarship recipients, the businesses we helped out with the Paycheck Protection Program (PPP) program, etc.

About two years ago, I received a call from a former customer in Fort Atkinson who I helped purchase an insurance business over 30 years ago. I hadn’t talked to him since we moved to River Falls 15 years ago. He was getting ready to retire and was closing on the sale of his business later that day. He called to thank me for taking a chance on him many years ago when nobody else would. He said without that help, he wouldn’t be in the position that he is today. Aside from being humbled by his call, it caused me to pause and reflect on the tremendous impact that we all have within our local communities. That’s something that we can’t ever put a price tag on, and it’s the reason why many of us choose to devote our lives to this great industry.

/by
, ,

Community Advocate Spotlight: Eric Glewen, Oostburg State Bank

Eric Glewen

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Oostburg State Bank President and CEO Eric Glewen.

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

Eric: After graduating from Marquette University in 1990 with a Finance degree, I started my banking career with United Savings & Loan in Sheboygan. My first job in banking was to design and implement a Retail Indirect Lending Program for the institution. It didn’t take off overnight but a year and a half later we had it rolling pretty good. When Valley Bank purchased United Savings & Loan, I had the opportunity to move over to the commercial side of banking and worked as a credit analyst for two years, also gaining some exposure to treasury management during this time. This was a great learning opportunity for me and helped position me to be a business lender when M&I purchased Valley Bank.

I spent the next eight years working as a business banker for M&I in Sheboygan and Manitowoc. At that point in my career, I was offered an opportunity out of the blue to join Oostburg State Bank as their vice president of business banking. I took over as president in 2019 and have been with Oostburg State Bank now for over 21 years.

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

All of it, I love the community banking model! Helping people and serving the community are at the core of community banking. I am privileged to work with a group of talented, committed, and passionate community bankers here who care about doing great work that makes a difference for our clients and the greater community we serve. If our communities thrive, we thrive. Serving others and strengthening our communities, that’s what I enjoy and that’s what I work for.

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

When it comes to mission and values, financial institutions are not all created equal. Many financial institutions will ultimately measure their effectiveness in terms of their asset size or perhaps their quarterly performance. We at Oostburg State Bank — and other true community banks — tend to have a little longer perspective, preferring to judge our success by the strength of our communities and quantity of banking relationships that last for decades and span generations. Customers most often pursue long-term banking relationships with someone they can trust and depend upon. We make it our mission to preserve the local community banking experience. Our team — as well as teams from other community banks across this great state — work diligently to meet the needs of our customers and our communities. In so doing, they exemplify what it truly means to be community bankers.

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

There’s certainly no shortage of great challenges that community banks face and the one thing they have in common is that they all possess the potential to threaten our continuation of business. Second only to employees, deposits are a community bank’s lifeblood. The ongoing assault on deposits perhaps causes me to lose sleep the most often.

The combined effect of credit unions, FinTechs, cryptocurrency, regulatory, and other competitive forces, not to mention the big one — the prospect of a central bank digital currency — will not only continue to erode community bank’s deposits, but in the worst case, threaten the viability of our business model. It’s no time to relax in our advocacy efforts through the Wisconsin Bankers Association and Independent Community Bankers of America to preserve the precious community bank model.

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

Oostburg State Bank is a pillar of community support and investment. It was this way long before I became president and I’m confident it will be that way far into the future. Just recently, we were presented the opportunity to partner with the Cedar Grove-Belgium School District. Their indoor pool had served Cedar Grove, Belgium, Oostburg, and the surrounding communities for over 50 years and the pool needed some serious work. I grew up in Cedar Grove and as a kid I spent just about every summer afternoon at that pool. When I was in high school, one of my first jobs was lifeguarding at the pool. After a substantial renovation, today, the Oostburg State Bank Community Aquatics Center in Cedar Grove once again stands ready to serve the greater community for the next 50 plus years.

/by
Wisconsin Bankers Association logo

questions@wisbank.com

608-441-1200

4721 S Biltmore Ln.
Madison, WI 53718

Get our Newsletter!
Subscribe