Independent Banker - March 2018 - 40

NOW
All together
During last year's " merger of equals " with Allegheny Valley
Bank, Standard Bank's CEO Tim Zimmerman and his colleagues
learned the value of pragmatism and team building. Now, he'll
apply this approach to his term as ICBA chairman, continuing the
association's fi ght for regulatory relief.
By Kelly Pike
W
hen Tim Zimmerman began
planning a merger of equals, the
fi nancials made perfect sense. Two
Pittsburgh-area community banks
with similar philosophies and about
$450 million in assets each would
combine to become a more formidable competitor. Of
course, cost savings would be necessary to drive down the
combined bank's projected noninterest expense.
No spreadsheet could have calculated just how challenging
it would be to unite the two banks. Yet the endeavor
has been more than worthwhile, says Zimmerman, and the
project aligned well with his practical manner.
Today, Zimmerman is CEO of $983 million-asset Standard
Bank, which legally merged with Allegheny Valley
38 ICBA Independent Banker March 2018
Bank in April 2017, with customer account conversion in
August. The institution enjoys a strong position as a commercial
lender serving a small-business niche neglected
by the big banks and the large regionals that dominate the
market. But Zimmerman, ICBA's incoming chairman, says
it wasn't easy to get there, and there's still more to do.
" We started with the high-minded idea to build the
best bank possible, " says Zimmerman, who has been a
community banker for more than 30 years. " We decided
early on we were going to take the 'equal' part of the
merger seriously, making decisions jointly. If I had said,
'I'm the CEO, this is the way it's going to be' and run part
of the team over with a bulldozer, it would have been
impossible to build a team. "
They started at the top, with essentially even numbers

Independent Banker - March 2018

Table of Contents for the Digital Edition of Independent Banker - March 2018

Table of Contents
Independent Banker - March 2018 - Intro
Independent Banker - March 2018 - Cover1
Independent Banker - March 2018 - Cover2
Independent Banker - March 2018 - Table of Contents
Independent Banker - March 2018 - 2
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Independent Banker - March 2018 - Cover3
Independent Banker - March 2018 - Cover4
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