How did you get started in the banking industry?
I developed an interest in banking and specifically agricultural finance way back in high school. I saw it as an opportunity to live and work in a small rural community while pursuing a rewarding career. Upon graduation from college, I worked for the Farm Credit System and immediately experienced the difficulties brought on by the Ag Crisis of the 1980s. It was a very difficult time, but it also provided a great training ground for my future in lending. After 18 years with FCS, I transitioned into community banking, and it has been my passion ever since. Now, with 20 years of experience, I am more convinced than ever that we need to work hard to preserve the community banking model. I firmly believe that the “too big to fail” institutions cannot and will not truly serve the needs of rural communities as effectively as community banks.
Tell us about Farmers State Bank.
FSB was chartered in 1878 and subsequently reorganized in the 1930s during the Great Depression. The original home office is in Cameron, but we have continued to expand over the past 30 years and now have six branches covering Northwest Missouri. Originally, FSB was primarily an ag bank; however, in the past 20 years, the lending portfolio has expanded to include large mortgage and commercial segments. During this period, the bank has grown from $40 million in assets to over $300 million. We continue to be challenged to provide the most up-to-date products and technology to our customers while at the same time remembering our community banking roots and our commitment to reinvesting in and supporting the communities we serve.
What is the most rewarding part of your career?
People. Customers, co-workers, community leaders, industry peers, you name it. I simply cannot describe the extent to which I value personal relationships. I will most likely never remember what was on a loan memo back in 2015, but I will remember the person who sat across from me at the closing desk. Likewise, it is rewarding to watch a young bank employee learn and develop their skill set over time and then transition into a leadership position within the bank. You just can’t buy this stuff.
I will always remember a customer who had a very difficult time in the 1980s. He and I had some very hard discussions, and let’s just say I was not likely to be invited over for Thanksgiving dinner. Years later, I ran into this customer. He came up to me and said, “I just have to thank you for helping me through a hard time. You told me things I did not want to hear, and I resented that. Looking back, I can see that had you not forced me to look at things differently, I would have lost everything.” It doesn’t get much more rewarding than that.
How and when did you become a member of the Missouri Independent Bankers Association?
FSB has been a member of MIBA since I came to the bank in 2002. Over the years, I have read the publications, participated in the training, etc. When I transitioned to the role of CEO in 2018, I decided it was time to get more involved. I looked at different organizations but was drawn to MIBA because of its ties to community banking. I actually drove to the office in Jefferson City in 2019 just to visit and become more familiar with the organization. I have agreed to serve on the board and look forward to more involvement with legislative and organizational activities.
What do you see as the benefits of MIBA membership?
Advocacy. Community banks need a united common voice for legislative issues, vendor access, product development, product deployment, training, etc. Our long-term survival partly depends on a cooperative approach to utilize economies of scale to compete within the industry. MIBA provides the best conduit for this cooperative approach. I would also point to the extensive and quality training library provided through MIBA. We utilize this resource every day, and it has proven to be especially useful.
Are there any specific individuals who have had a significant impact on your career? How?
I won’t name names here, but I will say that I have been extremely fortunate in my career to work for leaders (both at FCS and on the banking level) that “got it.” They understood what it took to be successful in this industry, and they were willing to share that knowledge.
These individuals were effective communicators and valued the development of staff. In essence, they helped me to develop the necessary tools to grow in this industry. Without their commitment to development, I think my path would have been much different.
If you look back at your career and life, what would be three things you’ve learned that you would share with someone you are mentoring?
- Respect: Show respect to customers, co-workers, leaders, and the industry as a whole. You cannot expect to receive respect if you do not first give it.
- Persistence: This is a tough business that requires constant attention and development. There is no “finish line,” so to speak. The race continues every day, and you must commit to keep growing and learning.
- Balance: Being a community banker means you represent the institution at all times, whether at the bank, church, a school function or whatever. It is kind of a 24/7 job in some aspects. You have to make certain you allow some “me” time and some “family” time. It is important in a lot of ways and provides that always needed recharge.
The pandemic seems to be winding down. Do you think it permanently changed the banking industry? If so, how?
No doubt there are lasting changes. In my opinion, the most profound change was the acceleration of digital banking. Suddenly customers were using online products, bill pay, remote deposit etc. at a rapidly increasing pace. Customers that would have never before considered digital were forced into it and many have found they really like it. If we as an industry and individual banks do not recognize this and provide access to these products, I think customers will likely move away from us. That is why MIBA’s ability to align vendors with this need is so crucial.
Do you have a favorite quote? Or do you have a favorite writer or book that might benefit other bankers?
I am an avid reader, both recreationally and for the profession. I will be honest and say that I do not have a favorite. I feel that any reading stimulates the mind and helps our critical thinking and cognitive process. Whether an industry-related article, a good novel or simply the newspaper, reading keeps us relevant, introduces new ideas and confirms long-held opinions. My recommendation is to skip golf one day a week and spend an hour reading instead. Given that I am very competitive and a really bad golfer, this practices is much better for my emotional health!
What do you do in your spare time?
My spare time is pretty much spent on two things: 1. Anything outdoors, and 2. Anything grandkids. When not with the grandkids, I love woodworking, fishing, hunting, baseball and working on the little hobby farm. I don’t think I will have a problem finding something to do after I retire!
