2011 Rising Stars in Banking: Jackie Herman

Jackie Herman launched a campaign earlier this year by contacting 15 friends, co-workers, vendors and former bosses, asking them to endorse her. Her campaign, however, wasn't for political office. It was about raising support for her selection as a Northwestern Financial Review Rising Star for 2011. Most nominees receive one or two nominations, so the campaign caught the attention of NorthWestern Financial Review staff..Herman, senior vice president, chief financial officer and director of operations for Flagship Bank in Wayzata, Minn., is one of seven bankers the magazine is recognizing with Rising Star honors this year. Two other bankers are honored in this edition; four additional are set to be honored in the July 1 edition..Herman, a 23-year veteran of the banking industry, celebrates her one-year anniversary at the $122 million Flagship Bank on June 14. She started her career at the Atwater State Bank in Atwater, Minn. She remembers 1998 when a colleague in the bank's holding company, Keith Markwardt, was honored with Rising Star recognition.."I was just amazed by his knowledge, his involvement, his knowing the banking world," Herman said about Markwardt. When he was named a Rising Star, "I thought, 'Someday, I want something like that," Herman said..At the time, she was raising three children and had to divide her interests between banking and parenting. "My dedication [to banking] at that time wasn't as strong" she said. But now, 13 years later, "I've come to the point where I'm ready for that.".And she almost missed her chance..It was just a few weeks before this year's deadline when Herman visited NorthWestern Financial Review's website and noticed the request for nominations. She also noticed nominees had to be under the age of 45. This was Herman's last year to qualify. So she reached out to different individuals and asked if they'd be willing to nominate her..Hometown roots.Herman was born and raised in the same town in which her parents were raised: Atwater. "That's where I settled with my family when I was married and starting out with my children," Herman said. Then an opportunity to work as a computer operator opened at the bank. Herman was 21. "I was processing the core system and backing up to huge magnetic tapes," she explained. Each reel only held 256k of memory. Eventually she began basic teller training and working with the public. "I absolutely loved it," she said.."Jackie was one of the most wonderful employees that I ever had the joy to work with. She is smart, down to earth, hardworking, good natured and kind. [She] got along with everyone and always made us proud and thankful to have her on our staff," writes Sue Meyerson, who hired Herman. "She was a local girl; we knew her parents and grandparents on both sides of the family. On her mother's side, the family is known for their athleticism, good looks, and ability to have fun. On her dad's side, the family is stable, honest, respected and liked by everyone. Jackie carries on all of those traits.".Meyerson notes Herman "had no experience in banking or educational background in business. But I knew what tremendous potential she had, and over the years she has always proven it, from heading up our data processing operation and being a cool head in stressful computer conversions to helping us in virtually any capacity in the bank with the many changes and growth due to the addition of three other locations over the years.".Until her three kids – Racquel, Todd and Whitney – were in high school, Herman worked part-time. But once she began working full-time, Herman said, "I began to flourish in my career.".During her tenure, Herman "took over call report duties, payroll, staff benefits, trouble shooting, customer issues, staff issues, computer matters. She introduced [health savings accounts] and other products and services," wrote Bob Meyerson, president at Atwater State Bank and husband to Sue. "She was smart, dedicated and extremely loyal to management and very good with customers.".When the kids were off to college, and after 20 years at Atwater, Herman decided to move to the Twin Cities area where her younger sister lives. The Meyersons were sad to see her go.."When Jackie informed Atwater State Bank that she was leaving, they were devastated. They wanted to clone her," said Herman's older sister Kimberly Wothe, operations manager and assistant cashier at Atwater State Bank. "Instead, they figured her sister was the next best thing, and I am now attempting to fill Jackie's big shoes.".However, even in their disappointment, her mentors, the Meyersons, "were very, very kind and they understood where I was coming from. Bob [Meyerson] actually gave me a list of banks in the metro areas and their key contacts," Herman said..When looking at Herman's experience in banking, it's faster to list what she hasn't done: commercial lending. "When you have your hand in virtually everything, it really helps when you're overseeing it, to see how it all ties together. It's a huge benefit working in a small town community bank; you have the luxury of working in every area," Herman said.."I worked with Jackie during her 20-year term with the Atwater State Bank and the State Bank of Kimball," writes Markwardt in his nomination letter. "She quickly became a go-to person for bank operation issues. She seized nearly every opportunity to learn by observing, by researching and by attending seminars. Her resume outlines the growth in responsibility achieved through promotions as well as the breadth of her banking knowledge.".Herman was instrumental in opening the Kandiyohi branch of the Atwater bank which increased the institution's size by roughly 44 percent in two years. She also successfully implemented online banking with a 60 percent customer utilization, telebank services with 40 percent customer utilization, a direct deposit and direct payments program, and a consumer debit card program which became profitable in less than two years.."Jackie and I worked at competing banks for close to 20 years and when people spoke of Atwater State Bank, the name I continually heard praised was Jackie Herman," writes James Strouth, who began working with Herman in 2007 and is senior vice president and branch manager of Atwater's Kandiyohi office. "Jackie was a vital part of our success…In my 38 years of banking, I have never worked with anyone with the people skills that Jackie possesses.".She continues to make her mark in the industry both at Flagship Bank and in various community organizations. "She has proven to be an effective leader with deep knowledge in managing the financial operations of the bank. She has brought many ideas and changes over the past year as CFO that have helped improve efficiency within the bank and also have helped reduce overhead," writes Steven Droen, president and CEO of Flagship Bank. "Some of these changes include negotiating improved contracts with better support and coverage areas such as information technology support, improved IT security, better financial reporting and reduced reliance on external support such as legal and accounting. In addition, she has taken the lead on improving the net interest margin of the bank by increasing the return on investable funds brought on by the increased liquidity requirements imposed on banks by the regulators.".Herman's dedication to banking also extends to the associations. She currently is on the Minnesota Bankers Association's operations and IT sub-committee, and is a part of the group planning the MBA Women's Leadership Conference. In the future, she'd like to be more involved in the legislative end of banking by coming up with long-range strategic planning and figuring out how to address industry issues..Many of those whose lives Herman has touched value her experience and insight. "Even though we no longer work together, I use her knowledge and great banking savvy from time to time when I need an honest and common sense approach solution," wrote Bill Thell, vice president and chief lending officer at State Bank of Cold Spring, Minn. "Jackie is a 'one of a kind' banker in today's world. It would be an honor for me personally to see her name in lights on the cover of the NorthWestern Financial Review."Other 2011 Rising Stars in Banking include:Doug Truex, Iowa Falls State Bank, Iowa Falls, IowaDavid Hanson, American State Bank and Trust Company, Williston, N.D.Dan Fagan, Tradition Capital Bank, Edina, Minn.Michelle Gross, State Bank of Bement, Ill.Lori Heath, The Farmers State Bank, Brookston, Ind.Keith Willcut, Peoples Community Bank, Greenville, Mo.