IBA Chairman Kevin L. Olson’s Inaugural Speech Excerpts
ANNUAL CONFERENCE HIGHLIGHTS
It is truly humbling and an incredible honor to stand here as the new Chairman of this tremendous organization that serves Illinois banks and thrifts of all business models. I would like to thank you for your support and thank all of the former IBA Chairs that I have served under and from whom I’ve learned so much over these last several years on the board. And, let’s take a moment to thank Dan Daly for his wonderful leadership of the IBA this past year. I would also like to thank the Board of Directors, Officers and employees of Grundy Bank for allowing me to be active in the IBA the past several years and especially in the coming year. Without their support and encouragement, I would not have had this opportunity to serve our wonderful industry. And, last, but certainly not least, a huge thank you to my wife, Mary. Thank you for being here today, and on the many banking associations’ trips we’ve taken. It’s been a fun ride with you by my side. Who is this guy standing here? I’m President, CEO and Board Chair of Grundy Bank, Morris, Illinois. Our bank is an almost 155 year old institution located about 65 miles southwest of Chicago. I have been fortunate to be with Grundy Bank for over 30 years and to watch our clients, community and Bank prosper by forming the relationships that moves us all forward. My formal banking career began with a college internship that my college professor, Tom Frey put together with the Monahan family at the First National Bank of Arcola. To use a term former IBA Chairman Micah Bartlett uses to describe banking, it was a “fun” summer. I’d never really had a job other than helping out on our family’s and neighbors’ farms in Leland, Illinois, so it was a new experience. In that community bank, I was exposed to many things—lending, collections, opening accounts and being a teller, or I should say trying to be a teller. It was a disaster; I never did balance. I’m still amazed when our tellers can go weeks and months with never being out of balance. Even with this traumatic duty, my internship was a wonderful experience and it showed me the career path I wanted to follow. As we continue
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to visit with bankers in the state, one common theme we hear is that there is a shortage of talent—especially in the rural areas. The IBA is working to remedy this in several ways. One is by forging relationships with colleges and universities to assist in developing our next generation of bankers. An example is our work that began late last year with Harper College in Palatine, to help develop an apprenticeship program for banking and finance students. Another example is our work in formulating a banking curriculum with Marquette University in Milwaukee. Two classes have now graduated from this program and another class is forming for the upcoming school year. A second innovation is BankTalent HQ. The IBA launched BankTalentHQ two years ago. It began as a job board specific to the banking industry, and it has evolved into a premier talent management site with a footprint in more than 30 states across the country. It is the only nationwide site that is dedicated to working with colleges and universities to help financial institutions attract and retain quality employees. The site’s growing list of features include leadership and sales coaching services, an “ask the coach blog,” a bi-weekly podcast, and other career resources. Helping students financially is a third way the IBA is seeking to attract talent. As Dan Daly mentioned in his remarks, the IBA is launching a new college scholarship program for students seeking a career in the financial services industry. The goal is to reach $50,000 by year-end. Beginning with the 2020 school year, several $1,000 scholarships will be awarded to IBA member-sponsored high school graduates or college undergraduates pursuing financial industry degrees. As we look ahead, the next 12 months will be a time of transition for the IBA. One of the transitions will be the move to a new Springfield office. Beginning October 1st, we will be located on the Southwest side of Springfield in the Park Place One Building on West White Oaks Drive. This new location will provide us with higher quality space for our employees and members, easier access for our visiting bankers, and access
• September-October 2019
to a broader choice of nearby lodging, restaurants and shopping for those who may be attending multi-day events. The second will be to select Linda Koch’s successor. Linda has been with the IBA for over 30 years and will have served as our CEO for over 19 years when she retires in June, 2020. Her enthusiasm for banking in our state and across our country has allowed the IBA to grow and prosper. And, it’s made her one of the most respected state banking association leaders in the country. Linda is a consummate professional and this was again on display when she made her announcement in December of last year. This will give the IBA Board of Directors plenty of time to search for our new CEO and have a smooth transition. A committee, diverse of gender, geography and bank models has been formed to lead the search. The committee’s role is to appraise and review candidates and make a recommendation to the Board of Directors so that our new CEO will be in place by late First Quarter, 2020. We are very fortunate as we enter this period of CEO transition. We have an incredibly talented IBA staff that will continue to carry out the Board and membership’s strategic objective to promote, unite and advance our industry. And, let’s not forget, the IBA is a Member Driven Organization. Over 200 bankers volunteer each year to serve on our various boards and committees. It is these bankers who are instrumental in setting the tone and direction for the Association. In addition to having committed volunteers and a strong staff, our membership is strong and continues to grow—even in the face of industry wide consolidation. This is happening because Illinois banks and thrifts see the value of IBA membership created by the constant work of our members and staff who advocate on our behalf. And, please, continue your efforts. Share your IBA experience with a non-member bank and let them know the value you place on it. And, let’s be sure to let all our employees know the many valuable member opportunities
