I am Orv Kimbrough, a social worker, who happens to lead a nearly $3 billion in asset bank. I consider myself ‘The Accidental Banker’ because I never aspired to be in the banking industry.
When I was handed the baton to lead Midwest BankCentre in January 2019, I had no idea what a ride I was in for. I had been on the bank’s board since 2014, joining shortly after I had become CEO of United Way of Greater St. Louis.
It was the board members’ job to ensure that we had the right CEO and management, make sure we had appropriate risk management systems in place, and provide oversight. We had a staff of traditional, professional bankers.
On that day in January, when I became CEO, I crossed the Rubicon. I maintained my presence as a board member, but now I was one of those traditional, professional bankers – or was I?
I came in conscious of the fact that banks had participated in historical wrongs, and it had only been ten years since the market crashed on the heels of subprime lending when large financial institutions were responsible for issuing what they called “ghetto loans” that extracted billions in wealth from Black people and others as they lost their homes.
Transitioning industries from the nonprofit sector into the banking sector was one of the most challenging and rewarding experiences of my life. My goal was to be a good steward of the asset I was entrusted with, surround myself with people who I trusted to give sound advice, be impactful, and have fun.
My foremost objective was the medical oath – “Do No Harm.”
We implemented a strategic framework to guide the bank’s efforts, which included deepening partnerships with our customers and communities, ensuring that leadership was aligned philosophically, emphasizing that everyone deserves a fair chance at credit, and prioritizing profitability.
Significant change was the backdrop of my transition. During my first two years, the bank underwent significant board and leadership transitions. I spent that initial year drinking from the proverbial water hose.
In the second year, the challenges and unpredictability brought by COVID tested the resilience of our customers, community, and the bank. This was followed by the Federal Reserve slashing interest rates to historic lows to bolster the economy, dealing with heightened “margin pressures” and a pervasive sense of uncertainty in how we approached the business of banking with so much in the air.
During this time, we diligently worked on leveraging technology and digitization to enhance customer service, streamline operations, and support our local communities through the turbulence. Behind COVID loomed a recession, followed by the Federal Reserve raising interest rates at an unprecedented clip. During these challenges, I transitioned into a banker role, but one of a different breed.
The idea of stewardship is as old as scripture. As I transitioned into banking, I felt the weight of the role. I came in conscious of the fact that banks had participated in historical wrongs, and it had only been ten years since the market crashed on the heels of subprime lending when large financial institutions were responsible for issuing what they called “ghetto loans” that extracted billions in wealth from Black people and others as they lost their homes. Most people from the community I grew up in had a suspicion of financial institutions.
During those early days, I received more than my fair share of deals that were nowhere near bankable. The business of banking is straightforward and operates on razor thin margins, requiring an astonishing 99% accuracy rate for profitability – a standard rarely seen in other industries. I’ve had numerous conversations explaining why the bank can’t do certain things that seem reasonable to the party asking. For instance, I was once told there is no need for me to submit my financials, “just trust me.” Trust is the foundation of banking, that’s why it’s important that banks verify!
Surrounding myself with the right people has been key to my success in life, and it’s no different at the Bank. The leaders I have been able to curate into my network make me a better leader and I enjoy the work we do together. Fun isn’t just a perk; it’s essential.
Years ago, each time I met with the CEO of Enterprise Holdings, he would always ask, “Are you having fun?” My knee-jerk reaction was always to say yes. I later realized the point he was making – why do it if you’re not having fun? We dedicate so much of our lives to our work; we might as well enjoy it. I’ve found that creating an environment where purpose and fun intersect has been instrumental in our team’s success at the bank.
When I walked into my Chesterfield office five years ago, I settled into my chair. Shortly after, I received a call from Annie Malone about their May Day Parade. As a foster kid and former resident, I couldn’t ignore the significance of their outreach on that day. I have studied business, theology, and social work. I have led in the human services, faith-based sectors, and banking.
I have served on the boards of a university, global nonprofit, a construction company, private companies, and a public company. I sit at the intersection of business; that’s always the way I’ve wanted it. But that wasn’t always in the cards. Reflecting on the call from Annie Malone, I’m reminded of the countless young people and professionals who might be unoptimized, who might not fit into the “traditional” role but possess untapped potential to contribute meaningfully to our communities. If they might look at my journey and once again believe in their potential, that is enough for me.
Considering the challenges we’ve faced over the past five years—pandemic, fluctuations in the interest rate environment, supply chain shortages, and geopolitical uncertainty—the looming question on many minds is the impact of artificial intelligence on all industries, banking included. We are at a business turning point. Now, more than ever, we will need leaders who have high emotional intelligence and what some call “soft skills.” I think they have always been the most critical skills, but as artificial intelligence transforms so many industries, they will become even more crucial. I think the bank of the future will require a different type of banker. Perhaps… a social worker as a banker?
Orvin T. Kimbrough is chair and CEO, Midwest BankCentre
