Title: Come along for the Ride: Colorado Banker John Ikard Wants to Bring Some New Faces into Banking
Abstract: John Ikard never met a gadget he didn't like--digital gadgets in particular, like voice-recognition software when it first came out. He often finds himself thinking, That's really cool. How does that work? The president and CEO of $14 billion-assets FirstBank Holding Co., Lakewood, Colo., takes a bit of kidding about this propensity from his executive team. He says he does listen, however, when they suggest that maybe the need for the latest mobile app isn't quite there, yet. For Ikard, who will become ABA chairman at the association's Annual Convention this month, technology isn't just a personal interest. He believes it is a way to attract more young people into the banking business. We need more diversity in the business, he says. We need more young bankers in the industry and involved in shaping its future. Technology is also a way for banks to stay relevant. a banker, have to embrace technology, says Ikard. If you're not going to compete on the technology front, you're going to be in trouble. Customers are going to tell how they want to bank. It's a message he will communicate as ABA chairman. What's interesting about all this is that Ikard, in many ways, is the consummate people As CEO of the second-largest bank in Colorado, he's on a first-name basis with Colorado Gov. John Hickenlooper, FDIC Vice-Chairman Tom Hoenig, U.S. Bancorp CEO Richard Davis, and most of Denver's leaders. Yet, spend some time with him and you'll notice he always takes a moment to speak with tellers and others below the radar. Not just a perfunctory Hello. He asks them how things are going or where they're from. Ikard talks with people out of genuine interest, but he also believes that every conversation is a seed planted. It's why he tries to meet at least a couple of times each month with people looking for jobs. When was coming out of college, looking for a job, remember who took the time to spend a half hour with me giving me advice. try to do the same. People ask him, What do expect to get out of such conversations? Ikard responds, I don't know. Somewhere down the road might meet that person again. Maybe they'll refer a good customer to us. He also says he learns a great deal by speaking with people. It's a trait he's been putting to good use the past few years in his travels for ABA. Homegrown in every way Ikard's seed-sowing approach to business and life fits well with a defining attribute of FirstBank, one that he didn't invent, but has been a beneficiary of. It is this: The bank does not hire other bankers. It grows its own. [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] Over the years, there have only been a handful of situations where the bank has required a particular expertise and plugged someone in from the outside. FirstBank requires all officers to begin as management trainees, learning lending and operations. Most trainees-Ikard included--were hired right out of college. Others, however, including nonsupervisory employees, can apply to enter the program. The bank requires a business degree, but will pay for a trainee's education as long as he or she maintains at least a B average. Says FirstBank President and COO, Dave Baker, We give people a path. It's limited only by the person. As a result of this approach, the average tenure of FirstBank's 342 officers is eight and a half years. Even more telling is that most of its senior management team, including Ikard, have been with the bank 20 to 30 years. The grow-your-own approach has many benefits, which is why the bank has stuck with it even as it grew larger. Baker ticks off some of the pluses: less turnover; strong culture; officers well-known to management. If make it to market president, he says, referring to one of the bank's core management positions, you will have been here for at least 15 years. …
Publication Year: 2014
Publication Date: 2014-10-01
Language: en
Type: article
Access and Citation
AI Researcher Chatbot
Get quick answers to your questions about the article from our AI researcher chatbot