Passion for community banking drives transition to new role

Peter Nelson is fired up about community banking. And, he recently began a new mission to fan that flame. The former president of Glenwood State Bank in Glenwood, Minn., joined the Independent Community Bankers of America on Feb. 10 as senior executive vice president of member engagement..For 28 years, Nelson devoted his career to Glenwood State Bank, working alongside his wife, Kari Nelson. He served as president for the last 19 years, following in the footsteps of Dennis Martinson, Kari’s father, who held the presidency for 23 years. Now, Kari is stepping into this role, carrying on her family’s legacy within the bank.Peter Nelson, who joined the ICBA board of directors in early 2024, noted the posting for the open job and inquired about it. As the job duties were explained to him, Nelson thought the role sounded attractive, particularly given his experience and passion for community banking. When it became clear that Kari Nelson would step in as bank president if he took the ICBA job, Peter Nelson said the decision became much easier for him. He applied for the job and accepted an offer on Christmas day.Nelson, who reports directly to ICBA President and CEO Rebeca Romero Rainey, remains on the board of directors at Glenwood State Bank, as well as the boards of First National Bank of Osakis and Lowry State Bank, which also are owned by the Martinson family. Nelson works out of his home, checking in with the ICBA’s Sauk Centre office, which is 22 miles from Glenwood, where the ICBA was launched in 1930 when 28 independent bankers from across the country met in a hotel. Nelson’s job requires him to visit banks all over the country, as well as the ICBA office in Washington, D.C.Nelson has experience listening to members. When he became chair of BankIn Minnesota the first week of August, 2023, he promised to follow up with each person who attended the association’s annual meeting. He reached out to every banker and associate member, seeking their comments on their event experience, their satisfaction level with their membership, and their thoughts on how BankIn Minnesota might serve them better.“You learn about what they like, what they don’t like,” Nelson said of his round of phone calls. “You definitely learned their concerns. Some people just want to be heard, which they were.“I probably learned the most from the vendors, learning what they need, what works for them, what doesn’t work for them.”Including stand-alone associations and partnering organizations with state banker groups, there are 44 ICBA affiliates around the country that are under Nelson’s direction. He also supervises the ICBA’s 12-plus member relations officers, and the organization’s muscular communications and marketing departments.“Community banking is in my blood,” Nelson shared soon after the Jan. 9 announcement from ICBA about its new hire. He said the job is a perfect fit.“It is right down my alley, my fairway, my lane, whatever terminology you want to use,” Nelson said. “I love community banking. I’m passionate about community banking, and if I can be part of a team that furthers that mission and if I can bring a perspective that they’re looking for, and I have the experience they are looking for, well, then I guess I better listen to God and walk through that door.”Nelson is known for his dedication to community banking, often described through the language of faith. During his acceptance speech for the BankIn Minnesota chairship, he shared the bank’s mission: “To be the premier community bank, positively impacting our customers and employees and our communities through Christian principles.”He cited examples, like when a banker considers extending a loan to an unemployed customer with a 460 credit score, or considers a business loan that other banks pass over because it doesn’t check the right box.“But you take that chance and now they’re currently in your community employing 75 people,” Nelson said.Nelson told that audience at the BankIn Minnesota convention that he’s “fired up. And, I hope you stay fired up. Our future is very bright,” he said in a robust statement of encouragement in front of about 200 people. “It’s bright because our model works and our communities need us. Our future is bright because of you, your passion and your hearts.”