Tag Archive for: Community Advocate

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Community Advocate Spotlight: Jerry Jacobson, Northwestern Bank, Chippewa Falls

Jerry Jacobson

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Northwestern Bank President Jerry Jacobson.

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

Jerry: By the time I completed my MBA in the spring of 1978 in Chicago, I knew that large cities were not for me, so I moved back to my hometown of Chippewa Falls to look for a job. At that time, I was not sure what field I wanted to work in but was familiar with the banking industry as my mom had worked in the safe deposit area at a bank in town for many years.

When I returned to Chippewa Falls, I learned that another bank in town was hiring for a position that I was qualified for. That is when my career at Northwestern Bank started.

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

My favorite part of my job is listening to our commercial lenders who are so excited and motivated while they are working with entrepreneurs in getting their ideas into practice. I see their enthusiasm and satisfaction in helping the customers achieve their dreams. I love being able to provide them my insight to contribute to their successes.

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

I wish the public understood that banks are not like other businesses. We have a charter that calls on us to help our communities succeed. Of course, we need to make money, but we are also here to serve the community’s needs. I wish they knew that the banking industry — community bankers in particular — are at the heart of small business lending; that we assist in driving the nation’s growth.

Jerry and members of the band Black Sabbath.

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

The only way the banking industry will continue to succeed is with good employees and I feel that over the next few years, many long-time bankers will be retiring. Communication from the WBA reports almost daily of the retirement of another long-time employee and recently, Northwestern Bank celebrated fifteen employees with over 30 years of banking.

Unfortunately, I think it will be difficult to find employees who have the desire and passion to be bankers at all levels of banking. So, now more than ever, it is important that banks find ways to transfer that community-minded culture to new employees and nurture the same passion for banking that has been the norm in the past several decades.

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

Throughout my career at Northwestern Bank, I have had many rewarding experiences. One, however, happened when I was a young lender in 1982 and has stuck with me for over 40 years.

A young man in his 30’s — just a few years older than me — came in and said he was taking a two- month leave from work to travel and experience everything that Europe had to offer. He asked me for the largest loan I could possibly give against his life insurance policy. After a few months, he stopped back at the bank a to thank me and said he had the most enjoyable trip that anyone could have. Six months after I made the loan, it was paid off by his life insurance. He had passed away.

I tell everyone that I have the greatest job in the world to be a part of helping others achieve and enjoy their dreams and have a better life.

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Community Advocate Spotlight: Steve Ploetz, Bank of Prairie du Sac

Steve Ploetz

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Bank of Prairie du Sac President Steve Ploetz.

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

Steve: My father, Charlie Ploetz, was an attorney in Prairie du Sac. He had been practicing law since 1945 and when my mother passed away in 1968, he began thinking about a career change. He had made the decision to move out West in 1970. However, Edward Gruber, the Bank of Prairie du Sac’s president at that time, heard of my dad’s plan and approached him about buying his shares and taking over at the bank. As a result, Dad became a banker.

In 1976, I graduated from the University of Wisconsin– Madison and joined my dad at the bank in 1977. I am proud to say that I am still here today.

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

Like other community bankers, I really enjoy working with people to help them be successful. Whether it’s employees or customers, helping them achieve their goals is especially rewarding.

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

The role we play in supporting our communities and the differences between banks and credit unions. I’m not sure the general public understands that their deposits are what fund the loans we make back out in our communities. I also don’t believe they understand the tax advantages credit unions enjoy.

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

Margins, growth, credit quality, and cyber criminals are sure to be significant challenges our industry will face. Cyber is what scares me the most; technology is changing so fast, and the bad guys are really smart. Keeping our banks and our customers safe from cybercrime will be one of our greatest challenges.

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

After 40 plus years, there have been so many special people, businesses, charities, and community events. But it’s all the little things that keep me going.

Recently, a customer I hadn’t talked to in years came to thank me for the loan I gave her 30 years ago to help start her business. She came in to share that she had just sold her business and was retiring. As she left my office, I told her she had just made my day, which made us both smile. You cannot put a price tag on lasting relationships with customers, businesses, and employees, and it is wonderful to hear you have made an impact on people’s lives.

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Community Advocate Spotlight: Craig Stuedemann, AbbyBank, Abbotsford

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!

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Community Advocate Spotlight: Beverly Collins, Laona State Bank

Beverly Collins

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Laona State Bank President Beverly Collins.

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

Beverly: When I first got into banking, I did not think that it would be my career. Banking started off as short-term employment, and after 47 years, I am pleased to say that it has become a very satisfying career.

Whenever someone in the bank went on vacation, I offered to learn their position and cover for them. With today’s larger banks, much of the work is now centralized and leaves fewer opportunities locally for individual growth. I am grateful that I was able to learn banking by working in all the positions from the ground up. Through the years, I have also had wonderful mentors who have not only taught me about banking, but also the importance of compassion and caring when working with the customer.

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

I enjoy being in a community bank where I am able to take care of the whole customer relationship. When I was employed at a larger bank, we would have to refer the customer to a different department for their commercial needs, personal needs, mortgage, etc. Additionally, I am able to work with a local Board of Directors who understand the dynamics of the communities we serve. A community bank is so vital to the financial health of the areas they serve. Our customers do not bank with just the name on the building, it is the people within who are their bank. Our customers are friends and family.

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

There is a difference between community banks, larger banks, and credit unions. Not all banks are the same, and credit unions are not banks. With a vested interest in the success of local individuals and businesses, our success — as a community bank — is wholly dependent on the success of the people we serve.

As we see larger banks pulling out of the smaller communities, the value of the local community bank has been underscored. I feel that, at the community bank level, we still consider the character in our underwriting to be one of the strongest factors; we know our customers and understand that they can go through tough times; we are able to work with our customers to overcome the obstacles that they have encountered.

I also appreciate that the banking industry has expansive opportunities for training. The Wisconsin Bankers Association (WBA) and the Independent Community Bankers of America (ICBA) are a few examples of where a bank can access resources and education. One can start at an entry-level position and continue to advance within their organization with the training that is provided.

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

Customers have become more complex, and they demand tools that simplify their banking process. In order to meet these needs and stay competitive, a bank must invest in costly, constantly evolving technology.

Banks, like other industries, also struggle to find employees. With a number of frustrating and expensive rules and regulations to stay in compliance with, community banks must draw upon the strengths of their team. In the larger bank environment, there are whole departments that can be utilized as resources whereas, in a community bank, the compliance department may be only one person.

Of course, another challenge is competing with credit unions. The average consumer is not aware of the differences in our tax structure and reserve requirements.

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

Some of the most rewarding experiences in my career have been when I was able to work with start-up businesses. It is their dream, but we are the partner to help make it a reality. I enjoy watching the business grow from the ground up and achieve success.

I have also had the opportunity to work with many wonderful people through the years. They have not only been fellow employees, but also became friends. When I changed banks, the greatest compliment I received was when my customers brought their business over to the bank I was now employed with. This clearly demonstrates that people choose to bank with people, not just an institution. Sometimes we think that we need to spend dollars on this training or that training for customer service. At the end of the day, it is basic: take care of your customer.

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Community Advocate Spotlight: Emily Dahl, Bank of Ontario, Westby

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.

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Community Advocate Spotlight: Joe Peikert, Wolf River Community Bank, Hortonville

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Wolf River Community Bank, Hortonville President and CEO Joe Peikert.

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

Joe: I graduated from UW-Platteville with a degree in finance and an accounting minor. I was hired as an internal auditor at a bank holding company that was headquartered in my hometown of Menomonee Falls.

Once I passed the CPA exam and joined KPMG Peat Marwick’s Milwaukee office, I thought I would be out of the banking industry. A few years later, I was back in banking with Fox Cities Bank in Neenah, and then Thrivent Financial Bank. I’ve lived in Hortonville since leaving the Milwaukee area, and 15 years ago, I ended up right in my “backyard” at Wolf River Community Bank.

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

Stating it simply — I love helping people. I’m so fortunate to have this role at a community bank where we live, go to church, send our kids to school, shop, etc.

I most enjoy helping each one of our employees grow their skills and careers. I like to teach and share with people the things I’ve learned over many years. That might be helping someone understand the complexities of interest rate risk management or developing the skills of our next generation of leaders at the bank. I also get the opportunity to help our customers navigate their financial needs.

I especially enjoy the variety of what I’m able to do on a daily basis. I might spend my lunch hour at our local library reading books to preschoolers, then in the evening, present our annual results at our stockholder meeting.

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

I believe that many people don’t really think all that much about where they bank. However, I wish more people understood that where they choose to bank makes a difference both to them and their community.

I have talked to friends and neighbors about where they bank, and they seem surprised when I share that I’d love for them to bank with us. I’ve seen a light go on when I explain to them that when they bank with a local community bank, not only are they getting remarkable service from people they know, but that banking local also helps our communities. The more support we get from the communities, the more we are able to give back to the communities through volunteerism and donations to schools, clubs, service organizations, and the like.

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

As in all industries, our biggest challenge will be in keeping up with all the changes occurring. I read a quote recently that said “the rate of change we experienced in the last year has been the fastest in history. And it will never move this slowly again.” Throughout the banking industry, we need to be sure to keep up with changes in technology. The time gap from one new technology to the next is getting shorter with each iteration. We need to make a commitment to stay current because our customers are going to expect it. While I truly believe that customers will always want to be able to walk into a physical location and meet in person with their banker, they will also expect to handle most of their regular financial transactions without doing so.

With the number of moving parts we face each day, including cybersecurity, cryptocurrency, economic uncertainty, regulatory reach, etc., our industry must keep an eye on each of these challenges so we can keep our customers safe and best serve their financial needs.

Finding and keeping great people will be a challenge as well. I recently spoke to a group of business students at our local high school and asked how many are thinking they’d like to have a career in banking. It is probably not a surprise that there were none. As bankers, we need to do a better job of telling our story on how rewarding a career in banking can be.

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

The one that comes to mind is a recent situation where I helped a customer who was the victim of a fraud.

I noticed that this customer, whom I know from church, was coming in the bank regularly over several days — which was unusual for him — and spending time on long transactions at the teller line. When I asked the tellers about the transactions, they said he was depositing a lot of old coins and asking how much was in his account. He told them he needed to get a certain dollar amount in his account. They said he seemed confused and was also a bit evasive with them.

A day or so later, one of our lenders came to me and said this same customer wanted to take out a loan using his car as collateral — which also seemed very unusual for this customer. The lender and I agreed that when the customer came in, we would ask him about this sudden unusual change in his finances.

In that conversation we were eventually able to learn that he had fallen victim to one of the well-known elder scams in which he was to send money in order to secure a large “prize.” We were able to keep him from losing a lot of money and get family members involved to help him.

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