Pub. 7 2019 Issue 2

6 The Community Banker www.mibonline.org F irst Security Bank of Deer Lodge began its banking operations in 1972 in the town of Deer Lodge, Montana. The bank was formed by a group of local businessmen & businesswomen who saw an opportunity to profitably operate a financial services business by serving the monetary needs of the community. In the following 47 years since that period of inception, First Security Bank of Deer Lodge has faithfully served Deer Lodge and the surrounding community by prudently supplying credit and assisting depositors in all their required needs through many different lines of business over the years. In May of 2018, existing management of First Security Bank of Deer Lodge led a buyout of its majority shareholder. After receiving the blessing to move forward from all regulators, a group of local business- men & businesswomen from the community stepped up to purchase all the remaining shares from the majority shareholder. In addition, all members of the management team purchased stock in the buyout of May 2018. In this successful & dramatic transition of ownership, First Security Bank of Deer Lodge retained its identity as a locally owned community bank that continues to faithfully serve its customers. With no bank branches, First Security Bank of Deer Lodge operates from the same building that was built in 1972 which is being renovated over time to meet the current needs of its customers. In a constantly changing environment for community banks, First Security Bank of Deer Lodge continues to find its niche in a suite of offerings, products, and tailored expertise for customers. The types of loans the Bank pres- ently originates differs from those loans of the past decades. Where home and car loans previously composed a significant proportion of the total loan portfolio, agriculture & commercial loans have grown in proportion due to increased competition in those earlier areas of lending focus. Deposit services offered and required by customers of the Bank have also changed over the years as fewer customers physi- cally visit the Bank location in more recent times. The geography of the customer base has also expanded over time as the Bank casts a wider net for customers. First Security Bank of Deer Lodge provides outside customer service and focuses intensely on building and forging relationships with new and existing customers. In an age when many Bank customers may choose to interact with their bank entirely through their smartphone and quickly shop rates on loans & deposits through many financial ser- vices providers, First Security Bank of Deer Lodge focuses on lavishing individual attention and building relationships with customers. First Security Bank of Deer Lodge has an excellent management teamwho are all now incentivized as owners of the Bank through their stock ownership. This tenured team of bank staff includes Tom Christ- nacht who serves as President of First Security Bank of Deer Lodge. Tom joined the Bank in 1983 after graduating fromMontana State University and has worked in all areas of the bank over the years. Tom recently finished his stint as President of the Montana Independent Bankers and will continue to serve on its Board. Other members of manage- ment include Elizabeth Lowery who serves as the cashier, Jana Baker who serves as AVP, and Colter Cumin who serves as CEO. The Board of Directors for First Security Bank of Deer Lodge also transitioned in 2018 to include two new directors who are also larger shareholders of the Bank. These two new directors are wonderful additions to the Board and stand as pillars of the local community. Ongoing local ownership of First Security Bank of Deer Lodge ensures that the Bank may continue to chart its own course as the insti- tution has done since inception in 1972 and may continue to faithfully serve its community for many fruitful years to come. Learning the les- sons from its history, the Bank continues to evolve over time following the needs of our community and customers. The business of banking is a beautiful, thrilling, and fulfilling enterprise. FIRST SECURITY BANK OF DEER LODGE Featured Member Bank