I am thankful each day that I am allowed to do what I love. I hope that each individual that gets into banking for a career sees it more than a job, but an actual commitment to our industry.
MIBA had the chance to sit down with Jim Anderson to discuss his journey in banking, how he became the President and CEO of Bank Northwest and the benefits of MIBA membership. We enjoyed talking with Jim and hope you enjoy learning about him as much as we did.
James (Jim) Anderson was born to Tom and Virginia Anderson in Hannibal, MO, but was raised in Philadelphia, MO. He has two sisters and a brother — all registered nurses. He attended Hannibal-LaGrange University in Hannibal, MO, Truman State University (formerly Northeast Missouri State University) in Kirksville, MO, and Carl Sandburg College – Knox College in Galesburg, IL, with studies in business and finance. He has also taken courses from Dun & Bradstreet to learn more about the business world and data analytics.
Jim and his wife, Kimberly, were married for 32 years before she, unfortunately, passed away two years ago. Their passion was to travel, so they visited over 100 countries over the course of their time together. They have a daughter, Renee Anderson, who lives and currently works in Hamilton, MO, at Bank Northwest as EVP, CFO, and COO. To this day, Jim still enjoys traveling in addition to working on his farm located in Caldwell County.
When it comes to supporting charitable organizations, Jim is on the board of directors of the Missouri Veterans Home in Cameron, MO. At home, veterans are given excellent food and living accommodations in addition to 24-hour medical care, skilled nursing care, social services, pastoral services, and recreational, physical, and rehabilitative therapy. The Board helps provide vans that are specially equipped to transport their special guests to any appointments or outings in a safe and secure manner. The Board also helps raise money to ensure the guests have the means to live as full of life as possible because funding is limited by the State of Missouri and the federal government.
Since Jim is a first-generation banker, his interest in banking is not attributed to anyone from his family but to a banker in Lewiston, MO. He was selling livestock at a young age and had gone to the bank to deposit his money. Mr. Bub Gnuse happened to be behind the teller’s line when Jim asked where they were going to keep his money. Mr. Gnuse asked Jim to come behind the counter to show him the vault where the money would be kept. “He made the mistake of telling me that I could come by at any time I wanted to check on my money — I am sure he regretted those comments later on,” Jim said.
In 1975, he started his banking career with the Bank of America in Illinois. From there, he left Galesburg and went to work at the Commerce Bank in Kahoka, MO. He was with Commerce Bank for eight years before he moved to Edina, MO, to work for Citizens Bank of Edina as the President. Jim is currently the President and CEO of Bank Northwest in Hamilton, MO, and has had the privilege of working in the community for approximately 30 years.
When asked about his favorite work experiences, Jim said, “One of my greatest memories is when I was asked to help build a jail to house federal prisoners.” The government was looking for a place to house both immigrants and federal prisoners; the terms they were offering were very beneficial for the county. He was able to put together a lease purchase program for the county. The jail continues to make a lot of money for the county and has provided a number of jobs for many years.
Jim said the most rewarding part of his career has been “Working with our customers and community — hopefully helping both grow and prosper.” Most of all, for him, it’s about making lasting memories for customers, their families, and the community.
When asked about the benefits of MIBA membership, Jim said, “I believe that the leadership of MIBA has the interest of not only our community banks at heart, but most of all, our customers.” In the end, it’s the customers that need a strong banking atmosphere that allows community banks to compete with larger institutions. MIBA provides a strong representation at both the state and federal levels. Jim continued, “In my opinion, the community bank is the heartbeat of our communities.”
Jim’s mentors were Dean Phillips, Larry Kelly and Dick Kelly, the owners of Citizens Bank of Edina. He commented that “Mr. Dean Phillips was the most intelligent banker and businessman I have ever known. Mr. Phillips always believed in the importance of staying with the basics of banking.” Larry Kelly’s common sense and belief not only in the people but making sure their banks’ safety and soundness were always strong. In addition, he always wanted to make sure the banks took care of their employees. Mr. Dick Kelly wanted every customer to be treated like a King or Queen. These three had such diverse backgrounds and instilled values of the strength of community banks that I still believe in today.
If Jim was to mentor someone and offered two recommendations based on his experience in the banking industry, they would be:
- Always remember why your bank was given a charter to be a financial institution and remember the responsibility to your customers and community.
- Stay with the basics of banking! It is easy to find shortcuts to try to find ways to make decisions.
“I am thankful each day that I am allowed to do what I love. I hope that each individual that gets into banking for a career sees it more than a job, but an actual commitment to our industry,” Jim reflected.
“In summary, as bankers, we have one of the greatest privileges to work in an industry that can not only support our communities but provide a better way of life for many. I have always been proud to be involved in our industry and will always be thankful for that opportunity,” Jim said.
