2023 Community Bank Case Study Competition Journal

SECOND PLACE: Iowa State University

their work family than their real family. He understands the importance of having a work life balance. In addition, the flexibility of hybrid work allows employees to make their job work around their lives rather than the other way around. PSB exudes “family-first” values in contrast to the “grind culture” displayed frequently in today’s workplace. Halterman credits these factors for why they possess a high employee retention rate for tenured employees. PSB’s greatest asset is the personal connections they develop with their customers and the community. They adapt to the needs of their mostly rural customers by providing them with a friendly and trusting environment. Walking into the bank, customers are greeted warmly in what can only be described as “Iowa nice.” The attitude in Iowa is that a complete stranger will strike up a conversation and show genuine interest in another person’s life for no personal gain. The term “family” was frequently brought up by employees to describe the bank’s atmosphere. After spending time with several employees, it became clear they enjoyed their roles and valued the company culture. Halterman implores himself and his staff to follow what he coined as the “sundown rule.” The sundown rule ensures that the PSB staff will respond to their customers by sundown of the day the customers contacted them. Company standards such as the sundown rule set PSB’s customer service apart from their competitors and guarantee great bank and customer communication. As a community bank, Halterman has seen the relationships between himself and his customers grow into

friendships, which has added to the bank’s community commitment. From an outside perspective, PSB has repeatedly proven that community and customer service are core values that aid in its continued growth. For example, the Seymour location resides in a region of Iowa with a large Amish presence. PSB is committed to satisfying the sometimes unconventional demands of these customers. Director of Operations, Bobbi Gladson, recounted how the credit department quickly learned how to approve loans for horse buggies. They had to find different ways to establish valid government identification as many of the Amish individuals did not possess driver’s licenses. The bank even constructed a horse-hitching post outside the Seymour location. The Seymour branch presents a clear pattern of how strong the customer and community commitment is within the organization. Halterman states, “Successful banks are successful because of the communities they serve.”

From an outside perspective, PSB has repeatedly proven that community and customer service are core values that aid in its continued growth.

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