9 HќќѠіђџȱ юћјђџ Ѣћђ 2014 &RQWLQXHG RQ SDJH &29(5 6725< Imagine a bank that excels in customer service, and yet puts employ- ȱęǯȱ ȱȱ ȱȱȱ Şȱȱ ȱǰȱȱȱěȱ with “servant’s hearts.” A bank led by a competitive former athlete who, three decades ago, transformed his outlook so dramatically that some ȱȱȱȱȱȱȃ Ȅȱ ǯ The bank is Centier Bank, Indiana’s largest, private, family-owned bank. It was established in 1895 as Bank of Whiting by Henry Schrage a German immigrant who fought in the Civil War and helped found the bank’s namesake town. In 1991 the bank was renamed Centier Bank, and headquarters were ȱȱ ǯȱ ȱ ȱ name is a play on “century,” in honor of the bank’s longevity; “center,” as ȱȱȱȂȱęȱȱ location on Center Street; and “premier,” signifying Centier as a premier provider of services. When Henry Schrage established the bank nearly 120 years ago, he began a leadership legacy that would continue with his son Walter, grandson Walter Jr. and now great-grand- ȱ ȱ ǯȱ ǰȱ ȱȱ today as chairman, chief executive Ĝȱȱǯ ȱ ȱ ǰȱŜŜǰȱȱȱȱ in 1972 as a loan and investment ofęǯȱ ȱȱȱȱȱȱ lender and assistant branch manager before being named president; he was elected chairman of the board in 1982. With 42 years of banking experience, he is a member of the Indiana Bankers Association Forty Year Club and indicates that he plans to remain ȱȱȱ ȱȱȱȱ nine more years. ȱ ȱȱ ȱ ¢ȱ - emy, Denison University and the University of Colorado, Schrage initially was hesitant to follow the banking footsteps of his predecessors. However once he decided in his mid-20s to join the bank, what followed was a transformation for both Schrage and Centier. Recently Hoosier Banker inter- ȱ ȱ ȱȱȱ¡- riences. What are your duties as chairman, ȱ¡ȱĜȱȱȱ of Centier Bank? “It’s somewhat common in smaller ȱȱȱȱȱȱ ȱ to be the same. As banks grow larger, those duties and responsibilities are more divided. At some point, as the bank grows to $5 billion, we’ll look at a separation of duties and responsibilities. ȱ ȃ ¢ȱȱ¢ȱȱȱ roles are to coordinate the outside board members. There are 13 board members – myself plus 12. They’re all outside directors, diverse both geographically as well as professionally. “Apart from myself, none of our directors are either Centier employees or Schrage family members. This arrangement is intended to keep the board objective. ȱ ȃ ¢ȱȱȱȱȱȱȱ sure that directors participate actively in directing the future of the bank. I encourage them to engage in the com- Ĵȱȱȱȱǯȱ They serve on a number of bank management committees, interacting with the management team, and that role is at least as important as participating in the monthly board meetings.” How do you ensure that your banking family legacy continues? ȱ ȃ ȱ ȱȱȱęȱ generation in the bank in the form of two son-in-laws and my daughter. ¢ȱ ȱ ȱȱȱȱ also work part-time at the bank. “I’m working on my grandkids now for the sixth generation. They’re only four and three years old, but we’re working on it through exposure. They come into the bank with me sometimes on weekends. ȱ ȃ ¢ȱȱ¢ȱȱ¢ȱ- stilling sound values. By that I mean mentoring and teaching the values of integrity, respect, friendship and loyalty. “In order to have a continuity of a family business in the competitive structure of today’s business environ- ǰȱ¢ȱȱȱȱęǯȱ You cannot indulge in the ultimate lifestyle and expect your kids or ȱȱȱȱěȱ¢ȱȱ excesses. “Strong grassroots values are necessary to perpetuate a family business, so I’m careful about not spoiling my children and grandchildren. They need to be strengthened, as steel is by ęǰȱȱȱȱȱȱȱȱ them the fortitude to get through tough times, not just the good times.” Mike Schrage: Leading Centier Into the Next Generation 0LFKDHO ( 6FKUDJH
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