At United Bankers’ Bank (UBB), “First for Your Success” is more than a tagline — it’s a commitment that has guided the nation’s first bankers’ bank since 1975. While the banking landscape has shifted dramatically over the past five decades, UBB’s role has remained constant: to provide community banks with the products, services and support they need, without ever competing against them.

Leading the organization are Jim Amundson, CEO, and Jen Severson, President and CFO. Jim joined UBB in July 2025, bringing more than 30 years of community banking experience, including nine years as President and CEO of BankIn Minnesota, the association serving Minnesota’s community banks — much like MIB in Montana. Jen has been with UBB for five years and has more than two decades of experience spanning community, regional and de novo banks in credit, lending, finance and operations.

We sat down with Jim and Jen to discuss the role of bankers’ banks, the challenges facing community banks today, and their deep commitment to serving financial institutions across the Midwest, including Montana.

Tell us a bit about who you are and what you do at UBB.

Jen: I serve as President and CFO. I’ve been with UBB for five years and took on the role of President in July 2025. I oversee risk, finance, accounting and business services.

Jim: I’m coming up on a year with UBB in July, after spending most of my 30-plus-year career in community banking in the Twin Cities. As CEO, I oversee the major executive functions of the bank, and Jen and I work closely together to lead the organization.

You both have deep community banking backgrounds. How has that guided your work?

Jen: I’ve spent my entire career in community banking — from large regional banks to de novo start-ups to family-owned banks in several states. That range of experience, especially in credit and lending, helps me relate to what our clients are facing.

Jim: Same for me. My background helps me understand firsthand what community banks need from a partner like UBB.

UBB pioneered the bankers’ bank model. How has the industry changed since 1975?

Jim: When UBB was founded in 1975, we were the nation’s first bankers’ bank. Our purpose was to provide correspondent banking services to community banks without competing with them — and that remains core to who we are.

Since then, the number of community banks nationwide has declined, but many of the banks that remain are larger, more efficient and leveraging technology in new ways. Technology has been the biggest change overall; decades ago, we were literally shipping paper checks across the country by plane. Now everything is digital.

While the tools have changed, our commitment to serving community banks — and not competing with them — hasn’t changed in 50 years.

What challenges are community banks facing today?

Jen: Succession is a big one. Many family-owned banks have aging shareholder bases, and the next generation doesn’t always want to stay in the smaller communities where the bank is located. Ownership transitions — including estate-driven sales — can force a sale even when the bank is still strong.

And running a smaller bank is hard. You’re expected to meet the same regulatory requirements as everyone else, but with fewer resources. That’s where UBB can help.

Jim: If you look only at the number of charters, it appears the industry is shrinking. But it’s more nuanced than that. Today’s community banks generally have larger asset bases, employ more people and are more efficient. Still, succession issues and regulatory burdens — especially since the post–Great Recession era — remain real challenges.

How does UBB help banks manage those pressures?

Jim: We’re strong advocates for community banks — serving more than 1,000 institutions. While we’re not a lobbying firm, we do work to ensure lawmakers understand the unique needs of community banks and why they must be protected.

What are the biggest ways community banks rely on UBB today?

Jim: Many banks depend on us for daily settlement — the essential movement of money in and out of the bank through wire transfers, electronic payments and other channels. It’s foundational work, and they trust us to get it right.

Beyond that, some banks rely on our consulting teams for compliance support, loan review, HR guidance or other advisory services.

Jen: Lending limits are another big one. We support participation lending and offer liquidity solutions, including Fed funds lines. Regulators want to see multiple funding sources, and we help provide that diversification.

Our approach is comprehensive. UBB aims to offer a broad array of services so clients can pick what they need — whether that’s settlement, compliance support, valuations, HR consulting or loan participation opportunities.

That sounds like a similar role to what community banks provide their own customers.

Jim: Exactly. I spend a lot of time meeting with our clients and shareholders, including a recent visit to Montana. What I consistently hear is how much they appreciate the personal, proactive support they receive from our operations and service teams. We help resolve issues quickly and with far less friction than larger institutions can provide.

Jen: Everyone at UBB is passionate about community banking. That’s why people work here — because we believe deeply in keeping community banks relevant, independent and successful. Many of us, including Jim and me, have been UBB clients ourselves in past roles. We understand the value because we’ve lived it.

Any final thoughts you’d like to share with community banks in Montana and across the Midwest?

Jim: Montana is a very important state for us, and we have a strong client base there. We also value the work MIB does as a state association — they’re a tremendous resource for the industry.

At the end of the day, our biggest message is simple: we will never compete with you. That matters. Some competitors may offer certain services at a slightly lower price, but they may also compete with you in other areas — retail, commercial, ag lending, you name it. We believe the total relationship matters, not just the standalone transaction.

Jen: And we genuinely care about our clients. We want to help them grow, remain independent and thrive in their communities. That’s the heart of what we do.