2025 BankBeat Rising Stars in Banking: Katelyn Olson

Detail-oriented Minnesota banker focuses on relationships to drive growthKatelyn Olson is, in many ways, a perfect fit to work in human resources at a local, relationship-focused bank. .Olson, human resources officer and executive secretary at First State Bank Southwest in Worthington, Minn., sees her position as allowing her to establish closer relationships with the bank’s 55 employees. She knows all of their names and can identify all of their spouses and children.Even during challenging conversations, Olson understands the difficult choices she makes are the best for the employee. “My coworkers are my customers,” she said. “So in every area of banking we are all trying to do what’s best for our customers, and I feel like in human resources I am doing what’s best for my coworkers, and sometimes that does involve difficult conversations.“Normally, what’s best for my coworkers ends up being what’s best for the bank. If someone doesn’t fit here anymore or they’re not enjoying their job anymore, that will normally make the bank better as well.” Olson’s adherence to that approach is part of what led to her recognition as one of BankBeat magazine’s 2025 “Rising Stars in Banking.” Olson, 34, led the outsourcing of First State Bank Southwest’s payroll work a couple of years ago. Payroll, which once took three days even if nothing went wrong during the process, now only takes about an hour. Employees are now paid on a biweekly basis, instead of monthly. She undertook extensive research into the process, tapping into the expertise of the bank CFO, and soliciting opinions from others. She met with the payroll company; the bank chose to work out the kinks and set up processes and procedures. She ended up teaching the new payroll system to other bank employees.“Some of those things are scary, so you have to take bits and pieces as they come and learn that not every change is bad,” Olson said. ‘I’ve grown up here’Olson, who has more than a dozen years of experience in banking, wasn’t necessarily initially interested in the industry. A native of Worthington, her parents farm just north of town. She is the oldest of five children. She was hired as a receptionist and HR assistant at First State Bank Southwest in 2012. A college student at the time at Dordt University, Sioux Center, Iowa, she was engaged to her now-husband, a local farmer, and knew she wanted to return to the area. “It was a way for me to get to work in business and give back to where I wanted to live,” Olson said. After Olson assumed the HR assistant position, First State Bank Southwest combined the role with marketing director, leading Olson to update the bank website and add social media to its repertoire. Olson later assumed the top HR role upon the retirement of her predecessor and mentor, Connie Lonneman. “I kind of fell into this job, and I’ve just grown into other positions as the years have gone,” Olson said. President and CEO Mark Vis sees Olson’s strengths as complementing his own. While Vis has much experience on the lending and credit side of the bank, Olson is skilled at the relationship side of the business and consistently provides him with board reports and minutes while offering her own input. Olson helps onboard employees, and explains the bank’s health insurance and 401(k) offerings to employees who are unfamiliar with the programs. Olson is one of three bank employee trustees for its Keystone Savings and Profit-Sharing Plan. She finished the Minnesota Bankers Association leadership class in May. “She does a great job at making employees feel welcome,” Vis said. Employees can also trust that their conversations with Olson will be kept confidential and authentic, Vis said. “She’s real,” he added. “She’s just real with you, and you know you’re getting the honest answer that you’re hoping for.” Beyond her love for her coworkers, Olson is also attracted to Greater Minnesota. “Rural Minnesota is special,” she said. “We thrive on agriculture. I grew up on a farm and loved that. I love that I live in a town with no stoplights. I love that my kids can walk home from school and I don’t have to worry about them. I love that I know a lot of people in town. I love my relationships. That’s part of the reason why I love human resources. “Relationships enhance everything about life, and small communities thrive on those as well.” Olson’s commitment to her position and to the bank she’s spent most of her adult life working for shines through and leaves her with a positive mindset. “I love my job very much,” she said. I have been given so many good opportunities, wonderful opportunities by exceptional leaders in the bank who had and have so much confidence in me, and I can’t begin to tell you how thankful I am for that. I love working here. I have grown up here … I can’t wait to see where the bank continues to go.”