2012 Rising Stars in Banking: Blair Folkens

In 11 years Blair Folkens has gone from a trainee at First Security Bank of Sleepy Eye, Minn., to chief financial officer at Sioux Falls, S.D.,-based L.A. Amundson Investments..Folkens is also the chairman of the board at three separate Minnesota banks: First Security Bank of Sleepy Eye, First Security Bank of Canby and Capital Bank in St. Paul. Additionally, he is a director at the Valley Bank and Trust in Mapleton, Iowa, and an advisory director of First Security Bank West in Beulah, N.D.."I feel he is unique in having this position since neither he nor his wife have blood relationship to the ownership," said Lloyd Amundson, owner of L.A. Amundson Investments..Folkens is being recognized as a 2012 Rising Star in Banking by NorthWestern Financial Review magazine..A native of Hector, Minn., Folkens always enjoyed math. He chose to major in business management in college because business seemed the right place to employ his math skills. He graduated from St. John's University in Collegeville, Minn., in 2001..After a short search, Folkens found the position that would launch his ascent at L.A. Amundson Investments. A friend's brother was president of First Security Bank of Sleepy Eye, a connection that secured him a job as a trainee in August of 2001. "He moved into Sleepy Eye and he fit like a glove," Amundson said..Like many beginners in community banking, Folkens had numerous jobs in the bank. He started as a teller, where his people skills were recognized by his peers. "The people on the teller line were more than eager to help train him," Amundson said. "He doesn't throw his weight around; he earns respect rather than demanding it.".After keeping the books for the bank, Folkens was the assistant cashier for a few months but ultimately moved into a lending position. "It soon became obvious to management he had unique skills with people and a bright business mind," Amundson said. "His analytical skills are way above most people his age. When we bid on loans he is a lead guy by far; his reports are thorough and sound," he added..As a lender, Folkens also showed a natural propensity for dealing with people. "He had special skills with farmers," Amundson said. "Farmers would come in and be very comfortable dealing with him.".Folkens attributes these people skills to his manager who mentored him while he was a loan officer. "He taught me a lot about lending and about dealing with people," Folkens said. "He taught me how to help an upset customer and how to do deal with different kinds of customers.".In 2006, the president of the bank left for a job in the ethanol industry. When he left, "he indicated that we already had a good manager here," Amundson said, speaking of Folkens who had graduated from college just five years prior. "We decided to give Blair a chance.".After two years as president, an opportunity became available to work directly with the holding company owners in the corporate home office in Sioux Falls. Folkens accepted the offer to train for the position and joined the staff in July 2008. "Blair is the youngest of our group so far," Amundson said. "I have never heard one ounce of criticism.".Just as Folkens accepted the position the recession was coming into full swing. One of the holding company banks had participated loans in the Twin Cities, an area hit hard by the recession. The bank needed to make some difficult decisions to resolve those loans. Folkens was an important part of the resolution team. "He met our expectations during the trying business climate and helped steer the corporation through the most serious problems we had ever had," Amundson said. "He was the quarterback and guided the bank out of those deals.".Folkens handles L.A. Amundson Investments' entire bank investment portfolio. Together the five bank charters have assets of $420 million. The company's strategy is to invest deposits that aren't funding loans. With low loan demand and strong deposit growth, the importance of the investment portfolio to the success of the organization has never been greater. "I am meeting that challenge the best I can," Folkens said. "This is the most difficult time in history to be trying to invest assets." But his skill with numbers and research allow him to navigate the task. "The due diligence is big, you have to understand what you are buying because if you don't you can get in trouble pretty quick," he added.."I was considered an investment man back when they were simple," Amundson said. "Now, Blair handles the investment portfolio. He can explain why we are invested in the things we have. The banks perform well under his leadership."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.Tod Eastman, HomeStar Bank and Financial Services, Manteno, Ill.Adam Dittrich, Americanna Community Bank, Sleepy Eye, Minn.Greg Turner, MidWestOne Bank, Iowa City, IowaEric Kjos, Regional Missouri Bank, Marceline, Mo