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GLENWOOD - Peter Nelson, president of Glenwood State Bank in Glenwood, was named the Central Region Community Banker of the Year by the Independent Community Bankers of America.

The award recognizes exceptional work and commitment by individual community bankers to their bank and communities. Nelson will be featured in the December issue of Independent Banker and will be recognized at the group's convention next year in Las Vegas.

Since Nelson took over, the bank's assets have tripled and it was named one of the top 100 places to work in Minnesota. He also co-founded Habitat for Humanity of Prairie Lakes and created a chapter of Fellowship of Christian Athletes at Minnewaska Area High School.

Nelson was nominated for the award by bank staff.

Washington, D.C. (Oct. 16, 2017)—The Independent Community Bankers of America® (ICBA) announced that Peter Nelson, president of Glenwood State Bank in Glenwood, Minn., is the Central region winner of the association’s 2017 Community Banker of the Year award. This annual award recognizes the exceptional work and commitment of individual community bankers and their dedication to local communities.

“We are pleased to honor and recognize Peter Nelson as the Central region winner of ICBA’s Community Banker of the Year award,” said ICBA Chairman Scott Heitkamp, president and CEO of ValueBank Texas in Corpus Christi, Texas. “As a dedicated, driven leader and compassionate and conscientious citizen, Peter’s contributions to his community and the betterment of our industry are to be commended.”

Glenwood State Bank’s assets have nearly tripled under Nelson’s direction, and in 2017 it was listed in the top 100 places to work in Minnesota. “For Peter, ‘we care’ is more than a tagline, it’s a way of life and leadership,” said the Glenwood State Bank employee who nominated Nelson for the award. By entrusting staff to do right by customers, they in turn are driven to do their best for the bank and its customers, he said. “Peter puts others first and, without a doubt, puts people before profits.”

Volunteerism and community involvement are also passionate pursuits for Nelson, who co-founded Habitat for Humanity of Prairie Lakes in Pope and Stevens counties and created a Fellowship of Christian Athletes chapter at Minnewaska Area High School for grades 7 through 12. Last Thanksgiving, Nelson and his family traveled to the Dominican Republic to deliver supplies and help build a school.

Nelson will be featured in the December issue of Independent Banker®, ICBA’s award-winning monthly publication and the number-one source of community banking news for ICBA members. He will also be recognized at the 2018 ICBA Community Banking LIVE® national convention in Las Vegas.
For additional information about community banks, visit www.icba.org.

About ICBA

The Independent Community Bankers of America®, the nation’s voice for more than 5,700 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services.

Glenwood State Bank ranked No. 28 in a list of top small business employers compiled by the Minneapolis Star Tribune. The 150 Top Workplaces list is the result of an annual survey sent to hundreds of businesses in Minnesota and taken by thousands of employees.

The small business category consists of companies with 50 to 149 employees. Employees ranked Glenwood State Bank based on leadership, benefits, and the company's strategic direction without knowing the survey's intent.

"Glenwood State Bank allows me to work at my full potential," one employee wrote in the survey. Another said "my job makes me feel like I am part of something meaningful."

"Our No. 1 asset always has been, and always will be, our employees," President Peter Nelson said in a news release. "Why wouldn't you do all you can to invest in your greatest asset?"

Glenwood State Bank has offices in Glenwood, Alexandria and Villard.

The Star Tribune published the complete list of Top Workplaces on June 25. Bell State Bank and Bursch Travel were also among the local employers making the list.

(Glenwood MN) -- Glenwood State Bank in Glenwood Broke Ground on an expansion in Downtown Glenwood on Friday October 14th.

The expansion will be in two phases.  The first will add to the existing building adding additional office space.  The second phase will remodel of the existing facility.  "Over the past twenty years, we have grown our assets tremendously and doubled our staff size; because of this, we’re bursting at the seams at our Glenwood branch. We came upon the opportunity to expand and we took it! We’ve officially begun our expansion and remodel project, which should be wrapped up by next fall."

With the rumble of heavy machinery, a cornerstone of Glenwood’s downtown landscape came down a few weeks ago in cascades of crashing bricks and plumes of dust. Once the site is prepped, work on the space’s new building will begin; Glenwood State Bank, the building’s neighbor to the east, is expanding to the corner.

That corner, Franklin Street N and Minnesota Ave. E, has long been a staple of Glenwood’s downtown commerce—first as a department store, then as a series of grocery stores, and finally, a drug store. Trumm Drug, the latest business to occupy the corner building, recently moved to Glacial Ridge Health System’s new Ridgewood Villa addition, leaving the space available.

Peter Nelson, Glenwood State Bank president, stressed that Trumm Drug was always “driving the ship” when it came to the decision. “We never want a business to leave downtown,” he said. But when Trumm decided they had other plans, Nelson said GSB was ready to take on the downtown space. The answer of why, he said, is a simple one: growth.

“From 1997 on we’ve doubled our staff and haven’t changed our square footage at all,” said Nelson. In that time, GSB has also grown five times from a $50 million to a $250 million institution. “We needed to do something,” said Nelson.
 

Why not renovate?

Nelson said engineers were called in to evaluate the existing Trumm building, and the consensus was that there were too many structural challenges to make renovation a feasible option.

“We recognize there are emotions and memories [in that building],” said Nelson. While the building itself may have served its life, Nelson said GSB plans to honor the businesses that have contributed to downtown Glenwood’s prosperity throughout the years. As the Trumm building came down, GSB saved some pieces of history in the form of bricks. “Those will be used to carry on the history of the building,” said Nelson. The details haven’t been set, but one idea is to incorporate the bricks into planters, with the names of corner businesses engraved into the stone.

“We’re taking the opportunity to make the building more efficient for our operations and create a better experience for our customers.” At the same time, Nelson said GSB is looking forward to adding to the progress being made across the community, mentioning the courthouse renovations, Glenwood Lutheran Church’s renovation and expansion, plans to update city buildings, and the 2018 Complete Streets project. “We will have a beautiful downtown to match our beautiful lake,” said Nelson, something he feels will stimulate downtown business growth.

Project timeline
Nelson said he anticipates the new addition being completed next June. At that point, GSB will start using the new building and begin remodeling the existing GSB space. The existing Glenwood State Bank building will be undergoing extensive remodeling, including ceilings, flooring and a new electrical
system. “Every wall is changing,” said Nelson. Once completed, the existing GSB building will flow seamlessly into the new corner space.

The target date for everything to be completed is Fall 2017.

Nelson said he appreciates people’s patience as the project progresses, and realizes there are challenges ahead with construction. In the end, Nelson said he feels those challenges will be outweighed by benefits of the finished product.

Glenwood State Bank was recently named a 2015 Top Workplace by Minneapolis’ Star Tribune.  The Top Workplaces program is an annual survey sent to hundreds of businesses in Minnesota and taken by thousands of employees (almost 70,000 this year).  The result of the survey is a ranking of the top 150 companies.

Glenwood State Bank participated in this survey and ranked #44 in the small business category, which consisted of companies with 50 to 149 employees.  They were also the highest ranked community bank represented on the list.

The results of the Top Workplaces list are determined solely on employee feedback.  Employees ranked Glenwood State Bank based on leadership, benefits, and the company’s strategic direction without knowing the intent or purpose of the survey.

“The bank sees the bigger picture and helps me and my family appropriately prioritize my life,” one employee wrote on the survey.  Another felt “valued and appreciated” by management.  Yet another employee praised management’s ability to make “forward-thinking decisions based on the needs of the community and employees.”

“Our No. 1 asset is our employees. People bank with people, not with Glenwood State Bank,” said President Peter Nelson. “Our purpose is to make a difference in the lives of our employees, our customers and our community.”

The employee survey is conducted by WorkplaceDynamics, LLC, a research firm on organizational health and employee engagement.  WorkplaceDynamics conducts regional Top Workplaces programs with 45 major publishing partners across the United States.

The Star Tribune published the complete list of Top Workplaces on June 14^th.  For more information about Top Workplaces, visit www.startribune.com/topworkplaces.

Glenwood State Bank, a $211 million-asset community bank located 120 miles northwest of Minneapolis, has been creating loyalties in its community for 107 years. President Peter Nelson attributes the bank’s success in loan volume—it is ranked in a tie for 32nd place among the top 100 overall loan producers, with an 89 percent ratio between loans and assets—above all to its attitude toward customers.

“Typically, we restructure rather than foreclose,” Nelson says. “We keep the flexibility to work through the bumps and bruises where we perceive a good work ethic, good business sense, good product and willingness to listen.”

Helping when the chips are down solidifies relationships for the long haul. So does taking an initial chance on financing startups and entrepreneurs, who may begin their companies in garages but now employ hundreds. The bank’s philosophy of taking some risks on those borrowers make it known as “a little more progressive” than some of its competitors, according to Nelson.

Glenwood State Bank’s diverse loan portfolio is representative of the economic diversity in west-central Minnesota, divided among lake tourism, agriculture, retail and manufacturing. Commercial loans, including those involving real estate, make up 59 percent of the bank’s loan portfolio, agriculture about 22 percent, one-to-four family about 17 percent and consumer loans take the remaining. The bank particularly supports family-owned enterprises, where it can add value through its expertise in relevant issues like corporate succession planning.

Nelson himself makes radio commercials, advertising the bank’s values and longstanding family ownership. “People see my family and me in the bank every day, and know we can make our own decisions fast. We do what we have to in order to meet our customer’s time frames and expectations.”

Nelson recalled one commercial real estate transaction that the bank completed in 22 hours from the time of application. “We had to call in some favors, but we got it done.”

Glenwood State Bank, believing in the soft sell, has the patience sometimes to wait years for customers to respond. Loan officers dedicate one day a week outside of the bank prospecting and developing relationships. Also, the bank’s 56 employees are actually paid to perform voluntary work in the community. Both of these initiatives are deemed important enough to warrant having additional staff to cover in-house responsibilities.

“We try to foster a culture of compassion and giving back,” Nelson says, and that commitment includes reinvesting money locally. Lastly, he insists giving credit for the bank’s success to God. “God has blessed us, and we are doing our best to be good stewards of His assets.” 

Glenwood State Bank was recently recognized by In View as a national example of excellence in community banking.  In View, hosted by Larry King, produces educational television shows. Their purpose is to produce quality educational programming to inform, educate and enlighten their viewers. In View covers a variety of topics and has won many TELLY Awards for its educational programming.

The program will focus on the part community banks played during our nation's struggling economy over the past few years.  In View points out that not all banks are the same. They noticed that community banks, although often co‐mingled with larger banks, were different.

Their report shows how Community banks took additional risks to help the entrepreneurs and that Community banks do things larger banks won’t.  Things that may not always be what is best for the bank, but rather, what's in the best interest of the customer.  In View realized that it was NOT community banks that drove our nation into the economic challenges, yet it will BE community banks leading us out!

As a result In View did a series of educational programs on community banks. In this process, they looked for community banks around the  county that were stand outs in our industry. What criteria did they use to select the banks to be recognized? The answer?  They looked for banks that were financially successful and growing, making more loans than their peers, and most important, giving back to their communities…  They also looked for banks that were doing the things they felt made our American economy great and would be the catalyst for getting our nation back to being the economic world leader.

Glenwood State Bank President Peter Nelson says "We appreciate that community banks are being highlighted for the differences they are making in this country. With almost 7,000 community banks nationwide, we are humbled to be recognized as an example of excellence in community banking and to be considered a leader among this highly-regarded group. Glenwood State Bank works hard, and we are proud of what we have accomplished in our 107-year history. Being recognized by In View and featured on national television is truly an honor."

Watch the Segment >>