2008 Rising Stars in Banking: Lynn Olson

"Never, never — in nothing great or small, large or petty — never give in," Winston Churchill said..Lynn Olson attributes her success to Churchill's philosophy, which was instilled in her by her mother. "My parents just really taught us about hard work and dedication. It really is the reason why I'm successful now," Olson said..At age 30, Olson is vice president in charge of Great Northern Bank's $80 million commercial lending portfolio in St. Michael, Minn. Olson is a 2008 selection for NorthWestern Financial Review's Rising Star recognition.."Ms. Olson is a respected banker and one who is always seeking leadership positions in business and community organizations on the bank's behalf," said President Paul Ederer..Olson's community involvement as a youth morphed into involvement with the local Rotary and Chamber of Commerce, Business Networking International, Relay for Life, and St. Michael's Daze and Knights festival. She also spearheaded the origination of the bank's medallion hunt event at the community's annual festival..Olson got into banking while attending the University of Minnesota-Duluth. She was an intern at Lake Bank in Two Harbors, Minn., while completing her finance degree and accounting minor. She stayed there nearly five years.."When I first got into banking, I didn't really know the difference between banking and community banking," Olson said. "What I really like about a community bank is the overall welcoming, personalized relationships with customers, always being available. You're so much more rooted in your community; you get involved and get a pulse for the community.".When she joined GNB in 2004, her background as Lake's senior credit officer allowed her to implement and smooth out processes and procedures to ensure safe and sound underwriting. "Great Northern was started in 1999; it's such a phenomenal thing to see a bank grow, to evolve and to be a part of that,' she said. Since Olson joined the bank's staff, the loan portfolio has grown by nearly $25 million which Olson says is a "collaborative effort" to integrate the customer into the bank, build a long-term relationship and provide a high level of service which includes a consultative role.."I can really communicate well with our customers, and yet I'm able to offer them a level of service that sometimes is unique to lending — to be able to have both credit side and people skills, to act in a more consultative role."."Quality service is no longer a premium; it is an expectation," Olson said about the evolving community bank marketplace. "Banking is not just transactional. It is about helping the customer to better understand their business and to mitigate and avoid undo risk to their business. It is about striving to help our customers to become more successful. It is also about knowing and understanding their pains and finding solutions to ease those pains. The most satisfying part about banking is when we are an integral part of a customer's growth and success.".Olson's own personal growth and success has been enhanced by mentors such as David Devorak who was a colleague in Two Harbors, and Ederer with his "phenomenal leadership. You see how he works with the employees and relates to people and you think, 'Wow! That's how I want to be' and hope someday that you can strive to be on that same level.".Olson is a Certified Lender Business Banker through the Institute of Certified Bankers and passed the Risk Management Association's credit certification exam. Olson continues her education this summer at the Graduate School of Banking in Madison. "I hope to take these experiences and evolve them into making me a better manager, a better banker, and in general, a more well rounded person."Other 2008 Rising Stars in Banking include:Bruce Kout, Farmers & Merchants Savings Bank, Iowa City, IowaJon Schmaderer, The Tri-County Bank, Stuart, Neb.Michael Solberg, State Bank & Trust, Fargo, N.D.Mark Demske, Community State Bank, Avilla, Ind.Dale Boyer, Citizens National Bank, Paris, Ill.