2012 Rising Stars in Banking: Tod Eastman

As a technology person Tod Eastman is an anomaly. His banking experience got him a job with a technology company but his technology experience brought him back to banking. After graduating with a degree in economics, Eastman worked as a teller, retail banker, technology support analyst and finally chief technology officer. Each position has contributed to his knowledge of bank operations and technology. "I am not exactly sure how I ended up in technology," he said. Yet, he has made considerable contributions to HomeStar Bank as its chief technology officer..Eastman's first job after college was with Chevy Chase Bank in Maryland where he was a lead teller and retail banker. It was there that he gained important experience in the day-to-day operation of a branch. He also oversaw his branch's system upgrades and the safe deposit box billing system which gave him his first experience managing technology..Eastman later tested the first version of internet banking at Chevy Chase. The bank partnered with a technology provider to offer software to its customers which allowed them to bank from home. "Home banking is what it was called then," he said..In 1991, a visit to Iowa convinced him to search for a job in the Midwest. "My wife liked how friendly people were," he said. He began to search for a job and found Information Technology, Inc., in Lincoln, Neb., a software company looking for young people with experience in banking. Over the next nine years, Eastman developed a niche at ITI as an expert in software and worked with more than 100 banks.."That time of doing those core installations brought a lot of understanding for how the whole cycle of products works in a bank." Eastman learned how a bank's money gets from one place to another within its systems, how loan applications generate the correct documents and how a bank insures it is paying the correct amount of interest for savings accounts. His expertise with software and his focus on security brought him to HomeStar Bank in 2000..These attributes are the primary reasons he was nominated for honors as a 2012 Rising Star by NorthWestern Financial Review magazine. "Tod is charged with protecting our technology systems and our customers' financial information," said Pat Martin, president of HomeStar Bank. "He guards them as if they were his own."."The biggest asset to a community bank is a combination between trust and local friendliness," Eastman said. Any bank can give you a debit card, so why choose a community bank? "It's the level of trust," he said. "If we become the one that is throwing people's Social Security numbers in the dumpster or if we are broken into, that can have a significant impact on where people want to keep their deposits.".Eastman's ownership of his responsibilities and his care for customer information is not an exaggeration. In the days when the bank's data tapes were physically transported from one branch to another, Eastman went to great lengths to insure that the data was protected. For instance, the bags that transported the data tapes were believed to be fireproof. The metal cases in which the tapes were stored were supposed to be indestructible. The question naturally occurred to Eastman's practical mind: If the transportation vehicle is in an accident, will the tapes in fact be safe from fire and destruction? "He told me he had set the bags on fire," said Mike O'Brien, chief operating officer at HomeStar. "At one point he was running over the bags with his car to see if he could break them.".A practical mind is Eastman's great value to HomeStar. "Tod has a big picture view of the bank and the business of banking," Martin said. "His keen eye and suggestions for efficiency or enhancements have resulted in major savings for the bank.".Eastman uses his knowledge to improve the customer's experience at HomeStar. "Tod is committed to exceptional customer service. He is always working to insure the customers have a great experience each time they interact with HomeStar," Martin said. The intricacy of regulation, bank procedure and technological capability make process improvement difficult. "His understanding of the systems is so unique and clear that he can break it down and ask the right question," O'Brien said..These process improvements result in savings for his bank. Community bank customers are willing to pay for the service but "you do need to have the services the customer wants," Eastman said. The cost of providing these services is a prime spot for the bank to save on expenditures and provide a higher return. "If you are going to survive you have to save on ancillary services or make more on fee income," he said. To reduce these ancillary costs Eastman actively looks for the best service providers and contracts. He has reduced cost for the bank recently by renegotiating a card processor contract without having to reissue cards to all the bank's customers.Other 2012 Rising Stars in Banking honorees include:Sherri Van Beek, CorTrust Bank, Sioux Falls, S.D.Henry Schutz, Lake Country Community Bank, Morristown, Minn.Todd Heilman, Western State Bank, Devils Lake, N.D.Adam Dittrich, Americanna Community Bank, Sleepy Eye, Minn.Blair Folkens, L.A. Amundson Investments, Sioux Falls, S.D.Greg Turner, MidWestOne Bank, Iowa City, IowaEric Kjos, Regional Missouri Bank, Marceline, Mo