Name: Bryce Cohen | Title: Vice President/Commercial Loan Officer
Bank Name: First Midwest Bank
Where are your main bank and branches located? What is the market like?
First Midwest’s main bank is located in Poplar Bluff with branches in Columbia, Puxico, Piedmont, Van Buren and Greenville. We also have a sister charter with branches in Dexter, Sikeston, Cape Girardeau, Jackson and soon Springfield. We’ve been fortunate that the majority of our markets are constantly growing, with new development and an increase in population. This growth also promotes an increase in bank competition. There are now 10 or more banks in most of the markets we serve.
What is something unique about your bank?
Our bank has done an excellent job at long-term employee retention. As a family-run business, it has always been important to treat employees like family. This cultural aspect has led to multiple people reaching 50-plus years of service with the organization and many others making First Midwest their career home. The long-term dedication to the bank is also rewarded with our retirement plan, the ESOP, a benefit plan that gives workers ownership in the company.
How did you get started in the banking business?
While attending the University of Missouri, my girlfriend (now wife) told me about a teller position at her family’s bank. I was in desperate need of a part-time job. First Midwest Bank had recently opened a new branch in Columbia; the hours were perfect for a college student, although I didn’t know the first thing about banking!
What prompted you to continue the family tradition & join the bank?
Many can relate to the uncertainties of career choice after college. To be honest, I never saw myself being a banker long-term. This changed very quickly once I began my commercial lending role. I significantly enjoyed creating new relationships and being heavily involved in community development. Joseph McLane, my father-in-law and CEO of First Midwest for over 25 years, played a significant role in my decision as well. He truly created a workplace with an amazing atmosphere and stands as a model banker for anyone in the industry.
What is the most important thing you’ve learned from this career so far?
One aspect that sets banks apart from other businesses is that personal finance is extremely private information. As a result, the relationship strength and trust with our customers are vital to community banking. I’ve learned so many things from this career, but the emphasis on building relationships has been the most important by far.
Tell us about the bank’s community investment efforts.
First Midwest has always strived to be a major staple in the communities we serve. This is achieved by supporting local charities, volunteering and sponsoring local initiatives. We have also partnered with other local banks to help build manufacturing facilities. As a result, hundreds of new jobs are created, immediately benefiting the entire community.
What is the bank’s biggest challenge in internet banking/mobile banking?
The biggest challenge is operating in times of constant technological change. New and more efficient technology is being rapidly produced, and the bank must stay ahead of the curve. This digital era with the internet and mobile banking has caused a permanent change in customer behavior, making these services a top priority. With markets full of good competition, if we don’t continue adding technological value, other banks will!
What’s your favorite thing about your bank/banking in general?
Banking can play a pivotal role in the success and growth of the businesses we serve. As a loan officer, I can see the beneficial impact firsthand. More specifically, my favorite thing about First Midwest is our loan approval process. With a vast range of experienced banking professionals, loan decisions are executed quickly. This speed has differentiated us from the many competitors in our markets and keeps customer retention high.
If you didn’t have a career in banking, what other career would you choose?
One of my hobbies has always revolved around computers. Their capabilities seem to grow stronger every year and become more vital to our everyday lives. If it weren’t for my incredible banking position, I would probably learn computer coding and find a career in that direction.