First Community Bank & Trust:
Position:
- Board Member
Years:
- 2010 to Present
Location:
- Beecher, Illinois
Worked With:
- Greg Ohlendorf – President
Location:
- Beecher, Illinois
Factoids:
- $190 Million Assets
- Specialize in Small Business
- Provided financing for Suite Properties
Joining the Board
Okay, I’m no banker. But I have been on the board of directors at 1st Community Bank in Beecher Illinois since 2010. We are a technology savvy medium sized community bank, willing and able to service clients in a wide geographic area. If you are looking for financing, please don’t hesitate to contact us.
I met the President of 1st Community bank, Greg Ohlendorf, at Flossmoor Country Club. He’s a rather type A gentleman, and one of the smartest men I have ever met. This is a guy who, after becoming a golf course rater for Golfweek Magazine, went on a mission to play and rate all 200 of the top golf courses in the country. In a bit over four years he was at 199, with only Augusta National left on the list. Rarely does Greg only play 18 holes, as here’s always room for a bonus nine! And between rounds he’s able to run a healthy 150 million dollar community bank on the very south side of the Chicago suburbs, and be heavily involved in the national trade organizations for community banks as well.
One day on the driving range, after I learned Greg was President of a bank, I first asked him if there was any money in that bank. He laughed, and I then asked if he might be interested in looking at my brother Jeff’s idea for the salon suite business. He was very open to the idea, and from there a relationship was born.
Two years after opening our first InStyle Salon & Spa Suites location, Greg asked me to join the board of directors at 1st Community Bank and Trust. I knew nothing about banking, and even less about being on a board, but I did have a background in both technology and small business. I was actually a bit apprehensive because this was stepping out of my comfort zone, but I accepted the job.
COVID
What a time to be on the board of a bank! The PPP money was flying out of Washington, but it certainly wasn’t guaranteed early on in the crisis. Our team worked their butts off, and we picked up many customers who were very dissatisfied with how their larger bank handled the crisis.
What I’ve Learned
I must say, running a bank is a very complicated business. Through this position I have learned a great deal about corporate governance, detailed budgeting, government regulation, customer relations, and the macro economy in general. This has been very good for my brain, and I imagine I will be doing it for many more years to come.