10 Hoosier Banker August 2014 COVER STORY Jim Kleinfelter enjoys meeting with members of the Indiana banking community. The prerequisite for consulting in any field is to have personal experience in that field. Jim Kleinfelter, 59, of bank consulting company Young & Associates Inc., has ample banking background to support his position as president and senior consultant. Before joining Young & Associates, Kleinfelter served for 27 years as a community bank executive and senior lender. His past work experience includes the former Society National Bank of Northwest Ohio, Bank One Wooster and, most recently, 17 years with The Savings Bank and Trust (formerly The Orrville Savings Bank). Kleinfelter also is an educator, having served as an instructor for the American Institute of Banking and for several state bankers associations, including the Indiana Bankers Association. Community outreach includes board service with Central American Medical Outreach, Orrville Rotary and various youth and church activities. He is a graduate of Bowling Green State University and of multiple banking schools. Young & Associates, based in Kent, Ohio, and Phoenix, was founded in 1978 by Gary J. Young, who now serves the company as chief executive officer and senior consultant. Originally named Young Marketing Services, the organization has branched beyond it initial focus into a consulting company that covers numerous areas of banking. Young & Associates Inc. is an IBA associate member. Hoosier Banker recently interviewed Jim Kleinfelter about his role in the banking community. What services does Young & Associates Inc. provide to the banking community? “We fill service niches in a variety of consulting areas for community banks all over the United States. We do for banks what they either don’t have the expertise or the independence to do themselves. “Our sweet spot is the Midwest, in part because we started in Ohio – but Indiana seems like home – and also because there are more community banks in Indiana, Ohio and Illinois than in most states. The community banks we work with range from $20 million to $2+ billion in asset size. “Our consulting services include regulatory compliance, both for deposit operations and lending compliance. We provide a great deal of safety and soundness services for the lending area, such as loan review, ALLL* analysis, stress testing and appraisal reviews. We also do management consulting in the areas of strategic planning, management studies and branch feasibility studies, and we provide some other consulting services. “Several years ago, we created an internal audit division to perform traditional internal auditing and risk-control risk assessments. Plus we offer loan servicing for small numbers of loans that the bank holding company might own, or servicing of land contracts because of the changes in the regulations as a result of the Dodd-Frank Act. “We also do some human resources and marketing consulting. For a community bank, it may not be worth it to service these areas themselves, because it’s a lot of work with relatively small return. “Finally, we are very big in education. Through the Indiana Bankers Association, we present Jim Kleinfelter: Leading Young & Associates in Support of Banks Continued on page 12. * Allowance for loan and lease loss
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