2011 Rising Stars in Banking: Keith Willcut

Keith Willcut's star rose quickly in banking. At 22, he became vice president of First National Bank in Clinton, Mo. At 25, he was named president and CEO of the Bank of Billings, Mo. Today, the 31-year-old leads Peoples Community Bank, Missouri's top bank in terms of return on assets and among the top 5 percent in the country..Peoples Community Bank, with almost $125 million in assets, 56 employees, and seven locations, had an ROA of 4.04 percent in the first quarter of 2011. Since Willcut took over the reins, the bank's ROA has remained above 3 percent. The banking wunderkind led the Bank of Billings from negative earnings to fourth in ROA in the state in just five years..Willcut, who was named a 2011 NorthWestern Financial Review Rising Star in Banking, credits his success to hard work — his own and that of his outstanding staff — and a commitment to customer service.."To be a top tier bank, it's not that you do one thing better than everyone else," he said. "You have to do everything a little bit better. As a small bank, we make every decision one day at a time, one customer at a time.".Outstanding ROA aside, Willcut is most proud of creating a customer culture at both banks he has led. "If a customer calls and asks 'Keith, can you meet me at 7:30 at night and pick up my loan payment?' I say 'yes.' If I ask a teller to come in 30 minutes early to help out, they say yes.".Willcut learned the ropes of banking leadership from Elaine Paxton, president of First National Bank for 25 years. She taught him the importance of hiring a quality staff and working hard.."If you believe your staff is better than other banks, then your bank is better than other banks," he said. "I never expect my employees to give more than I do. I lead by example.".The man who doesn't accept mediocrity believes that hard work pays huge dividends in banking. Willcut puts in 60 hours a week to ensure that the bank is running smoothly. As CEO, he is in charge of the bank's day-to-day, financial, and lending operations because Peoples Community Bank, with its main office in Greenville, has no chief operations officer, chief financial officer, nor chief lending officer positions.."When I wake up in the morning, there's not another place I would rather be," he said. "I can't wait to get up and go to work.".The son of a Missouri preacher found his niche when he took a job as a loan officer with a consumer finance company during his second year of college. "I thoroughly enjoyed it," he said. "When you left work, you felt like you did good in someone's life. Yes, you had to deal with the ups and downs, but sitting across the table from a first-time homeowner makes it all worthwhile."."My goal was always to learn as much as I possibly could about the financial services industry. As I gained more knowledge, I realized this was something I was good at and banking was an industry where I could excel.".Excelling in banking today means adapting to change. "Banking is a changing environment," he said, "whether it is economic or regulatory changes. "You can never get into a daily routine in banking for very long. You may think you know what you are doing on Monday, but on Friday do you really know?".Willcut's drive to succeed is fueled by a passion for learning. He is an avid reader, has participated in more than 100 banking seminars, and attended the Barrett Graduate School of Banking and the Colorado School of Banking.."I believe we should learn something new everyday," he said. "Some bankers may be the best consumer loan officer, but if you ask them what their ROA is, they don't know. I want to know what I'm doing and what everyone else is doing.".Willcut expects to continue what he is doing well into the future. "Every day I come in and work really hard, try to learn as much as I can, and hope to leave the bank a little better for tomorrow," he said.Other 2011 Rising Stars in Banking include:Jackie Herman, Flagship Bank, Wayzata, Minn.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.