Independent Banker - April 2017 - 24

With Interest
Broadcasting ambition-Rick Beall, here with CFO Jordan Nelson (left) and Nora Andrade (right), says while Peoples State Bank may be the " little guy " in its market,
he sees this as a strength, lending it flexibility and nimbleness.
understanding of banking. "
In 2009, he joined Peoples State
Bank full time, helping to open the
bank's first branch in Minot, N.D.,
and eventually taking over as branch
president. The Minot branch was an
immediate, nearly overnight success:
Peoples State grew from $32 million
in assets in 2009 to $115 million
in 2016. In the process, its loan
portfolio mix went from 95 percent
agriculture to roughly half agriculture
and half small business.
Growth advantages
Beall acknowledges that North
Dakota's oil economy-booming at
the time-accounts for some of the
growth. In addition, the bank hired
two established loan officers who
brought significant business with
them. Beall is proudest, though, that
Velva customers who had moved
to Minot quickly returned their
business to Peoples State Bank once a
branch was opened there.
That loyal customer base confirms
the bank's fundamental goal of developing
long-term relationships and
business. Its strategy is basic: Be honest,
know your customers and deliver
good service. " If you don't truly have
the best interest in that community,
people will catch on and you won't
last long, " Beall says. " We're there for
the long haul and we've always carried
through on the promise to stand
by our word and do what it takes to
take care of the customer. "
Peoples State Bank employees
strengthen their relationships with
customers by bringing the personal
touch to every interaction, Beall
says. He notes that new customers
frequently tell him that after just a
few visits, the bank staff knows them
by name. Loan officers routinely
meet customers at their place of
24 ICBA IndependentBanker April 2017
work, which may be in the middle of
a wheat or corn field.
" At the end of the day, we offer
the same products as other banks, "
Beall says. " But how you offer them
and how quickly you can get those
out to the marketplace can be a big
differentiator. "
Peoples State also encourages
employee engagement with civic
and charitable organizations and
pays membership dues for groups
such as Sertoma, a North American
network of service clubs; Young
Professionals Network; and Women's
Leadership Program.
Quick change
As the only bank in the area with less
than $1 billion in assets, Peoples State
Bank embraces its " little guy " role,
touting its flexibility and ability to
get things done quickly. " Mom and
Dad and I joke that we have board

Independent Banker - April 2017

Table of Contents for the Digital Edition of Independent Banker - April 2017

Table of Contents
Independent Banker - April 2017 - Intro
Independent Banker - April 2017 - Cover1
Independent Banker - April 2017 - Cover2
Independent Banker - April 2017 - Table of Contents
Independent Banker - April 2017 - 2
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Independent Banker - April 2017 - Cover3
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