9 Hoosier Banker March 2016 With fond memories of family road trips growing up, Brad Pemberton displays a collection of replicas of cars that his parents have owned through the years. Continued on page 10. from high school to young adult. Family and community are particularly dear to Randall and Brad, as yet another common bond is that both are cancer survivors. Brad was diagnosed with non-Hodgkin’s lymphoma in 1998, and Randall with prostate cancer one year later. Both men have enjoyed full remission for more than 15 years, and both are vocal about the prioritizing effects of cancer. “It magnifies the importance of family and community,” Brad summarizes. Hoosier Banker recently interviewed Randall and Brad Pemberton at the bank’s Lynnville headquarters. The bank also has branches in Chandler, Newburgh and Boonville. Randall K. Pemberton Hoosier Banker: What are your work responsibilities as chairman of LNB Community Bank? Randall: “As chairman of the bank and holding company, I conduct monthly board meetings and the annual meeting of shareholders each April. I also manage most of our renovation and remodeling projects, and the purchase of investments for the bank’s portfolio. “In this role it’s important to stay up-to-date on economic developments, and I find the economy fascinating and challenging. Having been in banking as long as I have, I have seen a lot of cycles and a lot of ups and downs, but nothing like what we’re experiencing now. “We now have a world economy. LNB Community Bank is a small, rural community bank, but we’re influenced by what is going on throughout the world. What is happening in China and other places affects our local economy, and that’s what makes economic issues so different from before. When I first started in banking, it was strictly a local economy.” Prior to your current position, you served as bank president from 1976 through 1997, following the tenure of your late father. What insights can you offer about leadership transition? “My family’s history in banking began in 1951 when my father and a group of local businessmen bought controlling interest in the bank, because they did not believe the bank was serving the best interest of the community. At the time, my father was running the local hardware store and funeral home. Eventually he sold both businesses, which had been in the family for years, to become a full-time banker. “I joined the bank in November 1974 with the intention of becoming president when my father retired in June 1976. The plan was to devote time to learning about banking, since my background was in mechanical engineering. “When I started at the bank, we had one location, total assets of about $6 million and total capital of about $353,000. By contrast, today capital changes more in a few months than what we had accumulated in the history of the bank up until that point. “Back then, our main concern was serving the community and providing jobs for employees; profitability was not a high priority. I remember that my first experience with bank examiners was a rude awakening, but enlightening. “The examiners wanted us to make a few changes, which we did. I also recognized that I needed to learn more, so I attended night classes, and then completed the Graduate School of Banking at the University of Wisconsin. It was a steep learning curve, but over time I figured out how to successfully manage a small community bank. “I have thoroughly enjoyed my career in banking over the years. My Three generations of Pembertons gathered on Aug. 3, 1992, the date that Brad Pemberton joined LNB Community Bank. Shown are (left to right): Randall K., Charles W. and Bradley K. Pemberton.
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