our clients. It is very gratifying. I love molding the next generation of community bankers. Our management team is very young, and they are doing a great job. This story should be about them!” He also values the relationships he has formed with clients. “My longest client has been with me almost 35 years and has joined me at three banks. You become a financial partner. You may not be an owner, but you are invested. Most likely, if someone were in my role in a big bank, they wouldn’t handle clients. As it is, I know my clients and work with them daily. I can say hello if I see them in a restaurant. I see many of them at church; my children probably went to school with their children. We want our communities to thrive because this is our home. We donate hundreds of thousands of dollars into our markets.” MIBAmakes it easier for Mitch to reach out to people he knows and trusts. “I can run an idea by other bankers, and they will giveme an honest answer,” he said. “Wemay be competitors, but we are both in the business for the same reason, tomake our communities thrive, so we don’t view each other as a threat. MIBA gives us the ability to network with other successful people.That is unbelievably important.” MIBA also benefits members by providing training opportunities. “Training is a tremendous resource for our employees and me, personally,” he said. “During COVID, MIBA helped keep our staff trained and continued providing programs online and Zoom instead of shutting down.” Mitch sees several challenges currently facing the community banking industry. “I think some regulators want to have fewer banks,” he said. “They think banks will be more efficient if they reduce our number. That’s a threat to community banks. We are trying hard to find good people, grow fromwithin and do what we can to be solid citizens every way we can.” The second challenge is nontraditional bank competitors like credit unions and online lenders. “We need to level the playing field,” said Mitch. “First, credit unions don’t play by the same rules as we do. They became major competitors the day regulators allowed credit unions to provide commercial loans. Providing a competitive pricing advantage is huge when you do not have to pay taxes. Most credit unions are tax-exempt. Online lenders are changing the lending landscape, but I wonder if the ease of borrowing will ever replace a personal relationship. When things are going well, anyone can be a good lender. The truly great lender is the one who sticks with you in tough times.” Mitch thinks bankers must invest in and build their communities to deal with these challenges. “Community bankers live in our communities. We are active and reinvest our resources in our local markets,” said Mitch. “These are markets we call home! Mitch and Robin have three children, a daughter and two sons aged 37, 30 and 28. The two sons started their careers at other banks but now work at Royal. One son is head of the mortgage group, and the youngest son is the assistant manager on the retail side. Mitch and his wife sponsor and support many local charitable organizations within their community. One favorite is Operation Shower, which started in St. Louis. The website address is https://operationshower.org. The charity provides baby showers for women in the military or women whose husbands are in the military. The PGA Tour partners with Operation Shower. “These young parents think they are going to get diapers and a blanket, but it is much more,” said Mitch. “It’s a great charity that honors the service of people who are willing to put their lives on the line for our freedom.” Mitch’s main interest away fromwork is sports. “I love sports, but the only game I play is golf,” Mitch said. “I am also a huge supporter of the Mizzou football program and SLU basketball. At the end of the interview, Mitch said, “I’m so blessed by the opportunity our ownership has given us, and so blessed to be working with a great group of young people. What we’re doing as bankers is a lot of fun. If you are in your late 50s or early 60s, I recommend jumping at any opportunity that comes your way.” ■ Mitch sees several challenges currently facing the community banking industry. “I think some regulators want to have fewer banks,” he said. “They think banks will be more efficient if they reduce our number. That’s a threat to community banks. We are trying hard to find good people, grow fromwithin and do what we can to be solid citizens every way we can.” August 2022 | 15
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