2010 Outstanding Women in Banking: Susan Whitson

Hiking in the mountains is a lot like banking for Susan Whitson, executive vice president of First National Bank in Waverly, Iowa..She sees the big picture while keeping her feet on the ground..Whitson, one of NorthWestern Financial Review's 2010 Outstanding Women in Banking, has taken a sensible, practical approach to banking throughout her successful 29-year career..As chief financial officer and cashier, she is responsible for investments, asset/liability management, information technology and daily operations of the $265 million bank with five locations. She measures success on a daily basis, ensuring that earnings and net interest margins are stable, technology is up to date, and the business plan is well run.."To succeed in banking today, you need to be proficient at what you do, learn to work with others in a group, and get the big picture to see what you are trying to accomplish," she says..Whitson draws on an early lesson she learned while working at a college summer job with the Soil Conservation Service. "I saw that the three offices I worked with all had the same goals, but they had different ways of accomplishing them," she recalls..The Iowa native grew up on a farm in Manly, Iowa. She started at First National as a loan review officer in the midst of the farm crisis after working as a lender for Farm Credit Services for five years.."It was an opportunity to try something new and serve customers and the community," she says..As a community banker, Whitson's first responsibility is to her customers. "How we handle things today affects them tomorrow," she says. "If we do the right things for our customers, we will grow because of it.".In her 24 years with First National, Whitson has helped the bank increase assets 257 percent, construct three new buildings, and diversify its portfolio to achieve a balance of agricultural, commercial, and consumer loans. The bank is owned by its 363 community shareholders..Whitson tackles challenges head-on — whether it's a flood, tornadoes, or changes in banking regulations and technology — without losing sight of her customers.."I want to determine what the situation is and how we resolve it," she says. "Our priority is taking care of the community."."We need to balance keeping up with changes in regulations with doing what's best for our customers," she says. "If the volume of required paperwork is hard for customers to understand, then our role as a community banker is to help them understand what they have.".Whitson's ability to communicate complex issues served her well as the former chair of the legislative, as well as the technology and operations committees of the Iowa Bankers Association. She is currently serving a two-year term on the executive committee as the first female treasurer of the organization.."Susan is bright and articulate," says John Sorensen, president of the Iowa Bankers Association. "She can summarize our legislative positions well to lawmakers as well as members and, at the same time, she is a good listener. She is a wonderful advocate for banking in Iowa.".In today's busy, demanding world, Whitson advises women in banking to pick their battles and determine where to put their energy. "You have to ask yourself what are the things I can make a difference with and what, at the end of the day, will be OK," she says.."Personally, I work hard to achieve balance in my life and be present at what I am doing. When I am at work, I am at work. When I am volunteering, I am volunteering. When I am at home, I am at home.".In her free time, Whitson enjoys traveling and hiking in the mountains of Colorado and northern New Mexico with Mike, her husband of 30 years. However, when her husband, son, and daughter go rock climbing, she does not accompany them. "I take pictures," she says. "I keep my feet on the ground."Other 2010 Outstanding Women in Banking honorees include:Cindy Haas, Gateway Bank, Mendota Heights, Minn.Jana Sipe Berndt, Bremer Bank, Breckenridge, Minn.Lesa Black, Princeville State Bank, Princeville, Ill.