Tag Archive for: Community Advocate

Craig Stuedemann

The following is a brief interview between WBA President and CEO Rose Oswald Poels and AbbyBank, Abbotsford President and CEO Craig Stuedemann.

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

Craig: I started my career in banking in 1990 at the Bank of Mauston as their credit card manager. Some of us may remember the old Independent Community Bankers of America (ICBA) Direct Visa Card program they offered community banks. Let’s just say it was a crash course in the art of collections. As often happens, a new position soon opened purchasing dealer paper from a couple local mobile home dealers meaning even more collection training.

In 1998, I moved to AbbyBank and became the first branch manager in a new Wausau location. Over the last 25 years, I have had the opportunity to start AbbyBank’s Freddie Mac mortgage program, move into commercial lending, become the senior lender, and now run the bank as president and CEO.

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

Every banker talks about how much they enjoy working with their customers. I do as well, but I particularly enjoy learning about the different ways entrepreneurs make money. It is fascinating to hear how people reclaim waste products or turn biproducts into something useable. Every industry seems to have a place for their cast offs and community bankers have helped develop many successful businesses that turn nothing into something.

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

Community banking is still a highly desirable, rewarding place to build a career. Banking is such a unique business model and young people can be exposed to so many different career options — finance, credit, underwriting, customer service, IT, accounting, and marketing are just a few.

Like many of us, I also take so much pride in seeing our customers improve their financial lives — ranging from the consumer who buys their first home to our commercial and farm customers who want to improve their operations. People should know that main street bankers are the best at serving these customers fairly and efficiently.

This year especially, I think the message is bigger is not always better. We have to change public and media perception that your money is only safe in a super-regional or national bank. Community banks are well-diversified, well-run, and very stable.

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

Our industry is under pressure on so many fronts. Digital disrupters, credit unions, insurance companies, fraudsters, and increasing regulations all seem to want a piece of community banks or our customers. Finding qualified staff is one of our biggest challenges — we need to continue to develop talent to professionally serve our customers. The baby boomer retirement trend is hitting our industry hard and replacing that talent and experience is a huge challenge. It’s up to us to bring the next generation along, teach them how to problem solve, and understand the complexities of the banking business.

Consolidation is another concern. I’ve heard it said that the U.S. has more banking institutions than any other developed country in the world. However, we have seen a huge reduction in the number of community banks over the last 10–15 years. Some want to nationalize banking or reduce our numbers to just a handful of massive institutions. Although regulation, efficiency, and succession often play a role in these decisions, I am concerned about the future for community banks. The consumer has less choices and often, rural communities are abandoned. Our country was built on free enterprise and independence — it’s up to us to keep community banking relevant.

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

As CEO, I enjoy both the compliments and the challenge to improve. As community bankers, sometimes we take for granted the impact we have on our customers. There is nothing more gratifying than helping someone recover money they lost to a fraudster or approving a debt consolidation loan that improves their payment situation. We sometime view that line of credit or small business loan as just another sale. But when I hear a customer thank us — often to the point of tears — for giving them their first start, I don’t think there’s a better feeling.

I was fortunate to have a father who was a community banker in Wausau for many years. When I moved back home to help AbbyBank, I often crossed paths with people who said, “your dad gave me my first home loan.” Seeing that pride in their face is something that I do not take for granted. That’s what continues to drive me and the message I send to our bankers. Take pride in what you do for your customers and your community — there is nothing else like it!

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Bank of Ontario, Westby Executive Vice President and Chief Financial Officer Emily Dahl.

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

Emily: After graduation from the University of Wisconsin – La Crosse with a degree in political science and history, I was looking for a temporary job. I was hired at Bank of Ontario as part of the internal auditing department.

It was important to our president that I also learned how to teller. I’m so thankful for the roles I started in; these duties gave me an understanding of operations, the front line, and loan files. It was the ideal foundation for a career in banking. What I thought was a temporary job started to become more of a career as I took on additional duties and responsibilities as the bank secrecy act (BSA) officer and regulatory compliance officer. As the bank evolved, I became responsible for the call report, ALM, information technology and security, and leading the safety and soundness exam preparation and was promoted to senior vice president. 2023 marks 12 years at Bank of Ontario, where I now serve as the chief financial officer (CFO) and executive vice president (EVP).

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

Like all community bankers, I wear many hats. I love that I am involved in so many different aspects of the bank. My passion though is asset liability management and liquidity. Many of my duties at the bank are in the background, but I love my role and being a resource for our employees. Whether it’s a regulation, accounting question, or helping them troubleshoot an issue with their email, I enjoy being the go-to person that keeps our bank thriving.

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

Community banks — like Bank of Ontario — want our customers to prosper. We want the members of our community and the businesses in our community to be successful. Community banks want to create a place where people choose to live, work, and raise their families. Every day, we strive to contribute to an environment that makes this possible. Daily, we invest in individuals, local businesses, and farmers to make our communities strong. We want people to know our banks are a place they can trust and count on, always.

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

First, we need to continually remain competitive with the products and services we offer. We need to be open and ready for change, specifically when it comes to how people want to bank and access their money. Banks must be able to move forward with the technology that our customers want. From an organizational standpoint, banks, like many other companies, need to be open to new ideas to not only attract new talent, but also retain the talent we have. A community bank is nothing without dedicated employees. The market and regulatory environment will always present challenges and we need to have the right people to navigate those challenges at our banks.

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

I serve the bank in many different capacities as CFO, EVP. In addition to that role, I also serve as the BSA officer, as a member of the IS/IT committee, ALCO committee, asset quality and loan committee, compliance committee, and as the Board of Director’s secretary.

While the majority of my roles at the bank do not give me much face-to-face time with our customers, and most of my duties — like the call report and exam and audit preparation — are behind the scenes, I honestly have so many amazing memories.

However, a few years ago, I was given the task of implementing the Paycheck Protection Program (PPP) at the bank. At the time, the bank  was not an SBA lender, and this required additional set-up on the bank’s part.

I worked with our lenders and customers on PPP applications, gathering documentation and tracking data, and then eventually applying for forgiveness. Acting in this role allowed me to work one-on-one with our business customers to help provide much-needed relief and payroll funds for their employees in the incredibly difficult time of COVID-19 shutdowns.

Dennis Vogel

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Citizens State Bank, La Crosse President and CEO Dennis Vogel.

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

Dennis: The summer after my junior year of college, I interned at Coulee Bank in La Crosse as a credit analyst. I fell in love with the industry right away because of one’s ability to work with so many different businesses and also not be seen as the typical “boring banker!”

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

Since starting at Citizens State Bank of La Crosse, my favorite facet of my role has changed over the years from a financial aspect to an impact aspect.

Daily, I’m fortunate to see and hear how Citizens has impacted its employees, customers, and community. Inspiring this impact and the status quo has created something special. There is nothing more rewarding than hearing how Citizens has changed so many lives. When a spouse of an employee thanks me for how Citizens has impacted their spouse, marriage, and family, there is nothing more gratifying.

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

That a bank isn’t just a bank or a transaction and it doesn’t have to be a boring place to work or do business with. The general public shouldn’t have to settle for just a transaction or poor customer service. Also, the majority of community banks offer the same products as the big banks do with better service. If the general public does their research, they can find that the stereotypes of banking are not always the case if you find the right community bank. Do your homework and it isn’t always about the rate.

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

I could list off some of the common answers: cybersecurity, fraud, fintech, commoditization, credit unions, etc.; however, with all banks facing the challenge of quality staffing, I think it is only going to get worse.

Yes, technology is helping with being able to do more with less; however, in community banking, it is about people. Unfortunately, the number of students going to college to pursue banking is lower and lower. At Citizens, we have worked very hard to create a culture like no other and break some of the stereotypes; however, as an industry there is a big opportunity for all of us to get the message out on the industry overall and all the opportunities which exist. With no new talent coming into the industry, it makes all the other challenges very difficult to address.

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

Being engaged in the community is one of our core values and is one of several components to an employee’s review at Citizens; it is not optional if one is going to work at Citizens State Bank.

If there is something or someone in need, Citizens and its employees are always there to help. Whether it is the Children’s Museum calling with no notice that they have a delivery truck with an exhibit and help is needed to unload the exhibit, getting together as a team to do iFeed on a Saturday, or an employee knowing a customer doesn’t have enough money to eat so they help by buying him lunch — it is in our DNA to give back and make an impact in the community.

Just recently, I had a customer call to thank me for everything I did for him and his business over the years. Years ago, he was on the verge of closing his doors because he couldn’t cover payroll; however, I stuck behind him and since then, the company has flourished with significant wealth.

Ted Gerber

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Community Bank, Grantsburg President Ted Gerber.

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

Ted: My family was involved in many businesses, including banks, in northwestern Wisconsin when I was growing up. Banking seemed the most interesting to me, so I pursued a degree in finance and started working for Norwest Bank in St. Paul, Minn. as a credit analyst. After a few years, my grandfather Franz and father Terry were interested in opening a branch in Grantsburg, Wis. and asked me to be the branch manager.

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

I love working with small business customers — they are the heart and soul of our economy, especially in rural areas. Helping them succeed is good for business, but it is also great for our communities. Beyond that, I respect and admire the dedication it takes to run your own business and really enjoy lending a helping hand.

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

Not all banks are the same. While many times the products we provide are very similar, how we deliver those products can be vastly different. Two banks across the street from each other might have vastly different philosophies on technology, underwriting, service, etc. I think the general public assumes we are all the same on everything, and that couldn’t be further from the truth.

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

Like all bankers, I worry about credit union expansion, data breaches, and non-bank competition, but perhaps my biggest fear is regulatory overreach. I believe there is a segment of the government bureaucracy that thinks charging for financial services is inherently wrong. It seems as though banks are an easy target as the regulatory framework is already in place to enforce whatever perceived “wrong” they want us to correct. Holding the line on regulation will be key to our industry going forward.

Every day, bankers serve their local communities by helping their customers achieve their financial dreams. Please describe your current role at your bank and share with us one of your more rewarding experiences.

I believe that all of us have talents, and the best way to serve our community is to share those talents with others. As president of the bank, it is my responsibility to set a good example.

My passions are business and baseball. Not surprisingly — like almost every other small-town banker — I’ve served as treasurer for many organizations over the years, from the local chamber of commerce to our town’s industrial development company. I have also coached baseball at the youth and high school levels in Grantsburg for over 20 years.

Watching the boys I coached grow into men has been incredibly rewarding. Recently, I was helping with a youth practice and told a youngster that his swing looked like a guy I used to coach. He smiled and said, “That’s my dad, he told me you were going to say that.” That smile and comment (and the slap on the back I got from his dad after practice) are one of the many memories that show you get back much more than you give when you share your talents.

David Schuelke

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Spring Bank, Brookfield CEO David Schuelke.

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

David: I was born into a banking family. Even though my father, Don Schuelke, was a banker, he didn’t encourage me to pursue a banking career and it wasn’t an original career goal for me. I graduated college with an accounting degree intending to enter public accounting. However, I accepted a good offer from First Wisconsin Bank to start my professional career. At First Wisconsin, I joined an outstanding culture and a talented team of professionals. Those colleagues and that culture led me to want to remain in the banking field.

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

The most rewarding aspect for me is helping businesses. I’ve always been intrigued and fascinated by different businesses — how they operate, how similar businesses do things differently but all reach success in their own way. It’s also meeting people and the variety. But nothing is better than somebody telling you that you came up with an idea that helped them improve their business.

I also enjoy watching my colleagues advance in their careers and sharing news of our strong financial results with my fellow shareholders. I’m very proud to have played a key role in developing a successful bank — from raising the capital to open to forming a team that executes our business plan of being a locally owned, locally operated bank focused on providing the personal attention our customers deserve.

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

I wish the public had a better understanding of how banks operate within very narrow interest rate margins and about the costs to maintain the infrastructure needed to deliver high quality service and products. This lack of understanding leads a few clients to expect bank services to be delivered at little or no cost.

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

Our industry’s greatest challenges include changing technology, a sometimes-oppressive regulatory environment, and potential economic challenges.

Technology will continue to evolve rapidly. Figuring out how to adopt new or changing technologies is a constant challenge. The cost to keep up with regulatory pressures has easily doubled, and possibly tripled or more, since we opened Spring Bank in 2008. Managing these increasing costs and requirements is a big challenge.

Lastly, current levels of inflation, supply chain disruptions, and a shortage of workers have resulted in expectations of a recession after many years of economic growth. When the next recession arrives, banks will need to focus on credit quality and work to resolve problem loan situations that arise. Fortunately, the banking industry is better capitalized today than it was at the start of the last recession.

Every day, bankers serve their local communities by helping their customers achieve their financial dreams. Please describe your current role at your bank and share with us one of your more rewarding experiences.

With regard to community involvement, one of the most impactful days of my life was joining a group of over 100 World War II veterans on a trip to Washington D.C. to view the WWII Memorial as part of the Stars & Stripes Honor Flight program. Spring Bank has supported this effort for many years as part of our pride and appreciation for our nation’s veterans. Speaking with many heroes that day, watching them interact with their peers, and experiencing the welcome home celebration at the end of the day is a memory I will never forget.