What makes us different and a great community bank is we choose to work at a community bank. We prefer the personalized, one-onone service of a smaller bank. We all know what it feels like to be at a large bank where clients can become a number. We didn’t like that culture. Like other community bankers, we prefer to develop relationships with our clients.” When Steve decided to retire, Mitch interviewed for Steve’s position. “I didn’t expect the board to choose me. Steve and I are not owners. I was 63 and thought they might want a younger person or be tired of having a Baden in charge. I am blessed to work for great principal shareholders, Linda and Matt Renner and Steve Pessin. They gave me the opportunity of a lifetime. I don’t want to disappoint them. I owe themmy best efforts. I do not take it for granted!” During his interviews, Mitch told the board he wanted the bank to be a relevant shareholder investment by growing shareholder value and improving client experience. “I’ve worked for great people who want to make the bank as successful as possible, and I’m probably a better manager and think more strategically because this job came later in my career,” said Mitch. “Most people have difficulty believing I am 67. I’m energized by our team, and I’m having too much fun to retire. I’m very energetic and enjoy working long hours. Being active and creative keeps your mind sharp. I work with an amazing group of young people, and their energy keeps me young.” Within 45 days of taking over as CEO, the bank was presented with a major acquisition opportunity. The expansion increased revenue, and the bank has had record dividends for the last three years, but the bank is still community-focused. Mitch understands that employees are the bank’s biggest assets. Despite bringing in five new locations and growing to 17 locations, the bank did not lay off any employees and has continued to invest in its communities. The Royal Bank of Missouri has replaced drive-up windows with interactive tellers and is the only one in St. Louis to expand its hours. To reach the interactive tellers, customers can drive or walk up to an ATM, press a button and connect to one of Royal’s most experienced tellers. “Clients love the individual service,” said Mitch. “Transaction times are longer because people are visiting with friends. One elderly client in his 90s told us he was moving the accounts he’d had with us for 50 years because he didn’t want to do business with an out-oftown service center. I told himwe were not going out of the market. I showed him he would work with the same friends he has had for years. He is still a client today! Community banks are a part of the fabric of the communities they serve. I tell our team that we have failed if we start acting like a big bank.” When Royal purchased another bank last year, regulators repeatedly asked what Royal Bank would do with a facility in Center, Missouri. The office is in a community of 500 people. Center had farmers and clients who had banked there since the 1930s, and it is the only bank in town. Mitch said, “Why do you keep asking us about the Center location?”The regulators answered that they were concerned Royal Bank would close the facility center to be more efficient. Mitch said, “We are not planning to close or lay anyone off! I can commit to you that we are not closing our Center office.” Mitch knows he has worked with great people who shaped his career. “I hope I honor them by doing good things,” he said. He has also been blessed with great opportunities. However, watching young teammembers grow has become the most rewarding part of his career. He said, “When I took over the job, I knew it wouldn’t be for 20 years. My legacy wouldn’t be the bank I took over; it would be the people I leave in charge after I retire. I watch young people really grasp our business and understand how important what we do is for Continued from page 13 14 | The Show-Me Banker Magazine
RkJQdWJsaXNoZXIy ODQxMjUw