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• W237913723 abstract "Things are changing along Main Streets of country, and changes in many cases are making business banking more of a challenge than ever. Take case of Blair Hillyer, president and CEO at First National Bank, Dennison, Ohio. I'd say between coming of Wal-Mart, and passing of generations in local businesses over last six or seven years, we've had many more failures than successes, says Hillyer, whose $160 million-assets bank has served community since 1933. Wal-Marting of Main Street is an old story, but passing of old generation on Main Street is one that community bankers like Hillyer are still experiencing. view is frequently not a happy one. We've had a lot of problems with passing of reins to next generation, says Hillyer, 51. They don't want to put in time that a small business person has to put in to be successful. Case in point: A recent loan applicant that bank turned down. business in question was a longtime customer, a local service original owner was old school. sold gas, fixed flats, and would hustle out his wrecker if someone needed at tow at 3 a.m. He was good as gold, said Hillyer. But he finally sold his station. new station owner quickly made it clear that station was definitely under new--and somewhat detached--management. The new guy wanted to run it like a 10 a.m. to 5 p.m. says Hillyer. No wrecker calls after 4:30 p.m., that kind of thing. In end, bank decided it didn't want to lend to this fellow--it doubted long-term appeal of his work ethic to customers. But somebody else went ahead and made loan, says Hillyer, so we'll see. Sheila Schauer, president and CEO of Four Corners Community Bank, Farmington, N.M., says she had picked up intergenerational attitude differences not only in lending on Main Street, but in hiring. Those people coming out of high school, college, really anyone up to about 35, seems to have a totally different mentality, says Schauer, 42, whose $115 million-assets bank is six years old. When they interview for positions, she explains, their questions reflect an attitude: What's in it for me? When am I going to become an officer? When am I going to make more money? Younger business customers are reflecting similar attitudes, says Schauer. are you doing for me today? What are you doing for me tomorrow? If you don't satisfy me, I'll move across street. Hillyer and Schauer were among seven members of ABA Community Bankers Council who met in a roundtable discussion earlier this year concerning business customer of future. (The group also discussed retail customer of future. See page 20.) Differing lifestyle choices The second generation has watched Mom and Dad work really hard to get it done and they are saying, 'Uh uh, not for me', says Joe Vich. says many, on getting control of their family businesses, are opting to take money and run. Vich says that puts bankers like himself in position of trying to play defense for community, trying to keep business in town, somehow, to hold onto those jobs. Not all of bankers have seen such a drastic intergenerational shift. We've actually had a couple of businesses that have passed ownership successfully, says Ron Heaton of Utah. What accounts for difference? Heaton says younger generation in these firms was intimately involved for some time and had strong education to boot. One company saw takeover by a son who not only knew business, but also knew accounting. In another case, the father had too many friends, and he gave them all price breaks, says Heaton. children saw profits going down drain as a result and wondered about firm's future. …" @default.
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• W237913723 date "2006-09-01" @default.
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• W237913723 title "Business Banking after the Me Generation Arrives: Banking Gen X and Gen Y Is Different Than Banking Mom and Dad. Here's How Seven Bankers Meet the Challenge" @default.
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