2016 Outstanding Women in Banking: Karen Gregerson

Indiana banker's work ethic fuels rise to President/CEO.In April, Karen Gregerson was hired as president and CEO of The Farmers Bank, Frankfort, Ind. Observers say her work ethic, passion for developing herself and for leading others have fueled her ascension to leader of the bank..Gregerson is a 2016 selection for Outstanding Women in Banking honors. The recognition, sponsored by CliftonLarsonAllen, is presented by NorthWestern Financial Review magazine..It was no small achievement for Gregerson to get hired as The Farmers Bank's new leader. Historically the president/CEO has come up through the ranks. "We had quite a few candidates and interviewed some excellent people," said Kent Ryan, chairman of the $503 million bank. "It was a tough decision.".In her final interview for the job, Gregerson made it easier for the board to decide. "A director asked her what she would do in her first three months if she got the job," Ryan said. "In answering, Karen pulled out a written 100-day plan for her first months on the job and presented it to us. This particular group is not easily impressed but that impressed us.".Gregerson wants to be a leader who sees potential in others and helps them develop, she said, describing her personal brand of leadership. She completed a Master's Degree in Organizational Leadership at the Indiana Institute of Technology, Fort Wayne, in 2010. Her 100-day plan shares her views on leadership in quotes, like this one from Ralph Waldo Emerson: "Everyone I meet is in some way my superior in that I learn from him."."We were looking for someone with banking experience, who was comfortable with a community bank and who could carry the culture of our bank as a great place to work and to bank," Ryan said. "We know we made the right decision.".It's no surprise to Cindy Konich, president of the Federal Home Loan Bank of Indianapolis, that Gregerson showed up to her interview with a detailed plan. "If you want to get something done, you go to someone like Karen," Konich said..Gregerson, who serves on the FHLB-Indianapolis board of directors, is the first woman ever elected to the 16-person governing body. Since she was elected in 2012, her work ethic and interest in learning have made Gregerson a superb board member, Konich said. "Karen is much respected on the board," she said. "She has a natural thirst for knowledge and has taken up new responsibility more quickly than average.."Karen has stepped up in a very short time into the vice chair role on our audit committee," Konich added, noting that Gregerson is running for a second term on the FHLB board. "She does the extra work to understand. We are a $50 billion bank; our board packet sometimes has hundreds of pages of reading. Karen is always very prepared for our meetings.".Gregerson was quick to point to support she receives from others as the source of her success. "I am so blessed to have worked with wonderful people who have helped me grow and have given me opportunities to advance in my career," she said. "I would not have been able to accomplish what I have without them.".One person Gregerson recognized was Jim Marcuccilli, president/CEO of the $1.8 billion STAR Financial in Fort Wayne. Gregerson graduated from Ball State University, Muncie, Ind., with a degree in accounting in 1981. Hired as an audit manager at the bank in 1982, the 34 year old began her career at STAR Financial. In 1997, Gregerson was named the bank's first chief financial officer. She also served as president of its trust and wealth management division from 1996 through 1999..Additionally, Gregerson has served on a number of the boards of the Girl Scouts of America; St. Martin de Porres Community Center; Habitat for Humanity; Matthew 25 Health and Dental Clinic, and Fort Wayne Junior Achievement. She also has volunteered for the United Way of Allen County and is a past president of the school board of Bishop Luers High School, where she was Academic Super Bowl coordinator.."Karen has an excellent understanding of the connection of budgeting, finance and investment. She has never been a stranger to community engagement," Marcuccilli said. "Board members from these community organizations would always say how much they appreciated having someone like her on the board.".Other 2016 Outstanding Women in Banking honorees include:Tirzah Wedewer, F&M Bank, Manchester, IowaSusan Koranda, Security Bank, Laurel, Neb.Nichol Beckstrand, Sunrise Banks, St. Paul, Minn.Jan Odin, Unison Bank, Jamestown, N.D.Leann Stessman, Park State Bank, Minneapolis