Getting to know various members of our association, it was with great pleasure we were able to spend a bit of time with our very own Douglas J. Luetkemeyer, President and CEO of The Missouri Bank in Warrenton, MO. A long-time and active member of the Missouri Independent Bankers Association, he recently shared some of his interesting history with us. You’ve probably seen him at conventions and various association functions over the past several years, and we are proud to introduce him to you in a way you might not recognize.

Born in St. Louis, MO, he grew up in Florissant with his parents, Richard J and Maryln, and his two brothers, Rick and Russ. Doug attended the University of Missouri-Columbia where, after only three-and-a-half years, he was granted a bachelor’s degree in Finance and Banking. He is currently married to Joanne and has three children: stepson Tim, stepdaughter Cyndi and daughter Hannah. Additionally, he has a three-year-old grandson, Aaron.

According to Doug, Luetkemeyer’s have been in banking for many generations: he has uncles, many cousins and distant cousins who have banked all over Missouri and in Chicago. With this information at hand, we asked him why he became a banker.

“By accident,” he said. “When I went to college, it was my intent to become a dentist. When I got to ‘Mizzou’ my first semester, I enrolled in organic chemistry, inorganic chemistry, biology and physics classes. I showed this schedule to my dad and he said, ‘You’ll never pass these classes. Why don’t you take some general business classes and see how you like it?’ So I did. (Thanks, Dad.) When I graduated from college,” he explained, “I had a job lined up with Emerson Electric in their accounting department where I interned. However, a hiring freeze during the recession of 1991 prevented me from that. I heard my cousin was leaving the Missouri Division of Finance so I applied. I was offered a job there and took it. Subsequently, a week later, Emerson Electric called and said the hiring freeze was over and offered me a job. I declined.”

At one point, Doug was a bank regulator with the Missouri Division of Finance, and he explained about how that experience shaped him. “I started with the Missouri Division of Finance in 1992 in the St. Louis North Office,” he stated. “We examined all state chartered banks from St. Louis – north up to the Iowa border. We went as far west as Warrenton, where The Missouri Bank is located. The three years I spent with the Division was a great experience. We would examine all aspects of a bank, from the deposit side, the operational side, to the loan side of the organization. Being in a different bank every week exposed me to all different types of institutions. I’ve learned how great banks are operated and have witnessed how problem banks shouldn’t be run. I worked with many good people, most left the Division and are now with community banks. I am still in touch with them today.”
We then asked him to tell us about two or three of his favorite work experiences, which he happily shared. First, he told of experiences as an Employee: “When I first started,” he began, “the creative mind of Charlene Twiehaus livened up our Christmas Parties by putting on skits for the employees and their spouses. She talked me into being many different characters throughout the years. I’ve been ‘The Ladies Man’ from Saturday Night Live, The Grinch, Michael Jackson and even Mick Jagger.”

Secondly, he talked about his time as a Loan Officer. “It’s rewarding to see a borrower flourish. Making them their first business loan, watching the business grow and seeing the fruits of their labors.”

And thirdly, he spoke of his time as President: “Every employee is different,” he said. “They may see things different than you do. Sometimes I change my position and sometimes I don’t. It’s always an experience working through that process.”

Moving on to learn more about his career, we asked what the most rewarding part of it has been. He said, “Being a Community Banker allows you, truly, to be part of the community. Giving back your time, your talent, and even your treasure and seeing the response you get from the organizations you help. Seeing a child smile when you purchase his first steer or pig at the livestock auction is priceless.”

When discussing the benefits of MIBA membership and how he has benefited from it, he explained, “I see (the) MIBA as a useful resource not only for me as a President in sharing ideas, problem solving and developing strategies for the bank, but also for my employees who can learn from the various educational classes that the MIBA sponsors. I went to my first MIBA conference this past September at the Lake of the Ozarks. I had many good conversations with bankers who had the same concerns I had on particular banking issues. Some had good ideas on how they handled their issue and I was able to incorporate those ideas into my solutions. The speakers were also very informative.”

An important element of any person’s professional career is the mentor or mentors who help them along the way. Doug was enthusiastic when telling us about his. “The most influential person in my banking career has to be Ed Buscher. Ed was the President and CEO of The Missouri Bank from 1986 to 2021. He hired me back in 1995. I’ll never forget the interview. He asked me, ‘Do you like to drink? Do you like to play golf?’ I said, ‘Yes.’ He said, ‘We’ll get along just fine.’ He saw things in me that I never knew I had. He polished those qualities and brought them out of me.” He paused. “As Teddy Roosevelt once said,” he continued, “‘The best executive is one who has enough sense to pick good people to do what he wants done, and self-restraint enough to keep from meddling with them while they do it.’ Ed created an environment that was comfortable and fun. He not only cultivated me as a banker but he helped develop me as a person. Thanks, Ed.”

We asked Doug what three recommendations he would have for someone he was mentoring. He said, “One, listen. Truly comprehend what the person is asking or telling you. Two, keep an open mind. There have been many times I’ve changed my position on an issue after hearing another point of view. And three, be honest, with the people you deal with as well as with yourself.”

When we asked him his opinion of the most important challenges facing the community banking industry, he stated, “Inflation and retaining and hiring employees.” Simple and to the point. We then asked how bankers can successfully deal with those particular challenges. He said, “Inflation affects all institutions, big and small. We have laddered our security portfolio in a way to take advantage of the higher interest rates that are coming, and we have also kept our loan maturities relatively short.

“With regard to retaining and hiring employees, we realize we have to be competitive when considering pay. We have also created a workplace that is comfortable and fun and have become flexible in allowing some employees to work remotely.”

We asked Doug to provide us with any final thoughts for those reading this article. He said, “When I started my banking career I made many mistakes. Everyone does. I learned from them and took the criticism in stride. Everyone is different and everyone interprets critique differently. I have learned as an executive to know your audience. Give advice when solicited, but most importantly, give praise. It breeds confidence.”

Good advice.

It was interesting and informative to learn about Doug and how he thinks and feels about his work in the banking industry. But we also know he has other outside interests that round him out as a person, a husband, a father, a grandfather, and a friend. He told us he likes to hunt and play golf, and that over the past two years, he and his brothers have been building their farmhouse, doing most of the work themselves. He is currently in the process of making furniture from logs cut right off the farm (see picture). And finally, he enjoys the simple things, like spending time with his family and friends, and especially capturing the joys of his three-year-old grandson.