Home Bank 75 years in group banking – Impartial Banker

75 years in group banking – Impartial Banker

75 years in group banking – Impartial Banker


John V. Anderson purchased F&M Financial institution within the early Seventies. It’s a third-generation household enterprise at present.

John V. Anderson celebrates 75 years in group banking this 12 months. The chairman emeritus of F&M Financial institution gives us a glimpse of his life, his profession and the teachings he’s discovered alongside the way in which.

By Molly Bennett

F&M Financial institution

$650 million

Crescent, Okla.

How do you seize a life in 1,000 phrases? The reply: with issue. And when that life takes within the Nice Despair, World Conflict II and 75 years in group banking, the problem turns into extra acute. However right here goes nothing.

John V. Anderson, who’s 95, is chairman emeritus of F&M Financial institution in Crescent, Okla. Since shopping for it 50 years in the past, he has watched it develop from a single-branch group financial institution to 1 with 9 places throughout the state and $650 million in property. His three sons and one daughter are all concerned within the 100% family-owned enterprise, as are three of his grandchildren.

“And I’ve bought great-grandchildren now which might be starting to drive automobiles, in order that’s the following wave that desires a job,” he laughs.

“In these 75 years, I’ve made lots of buddies. I simply did the most effective I might at no matter job I had.”
—John V. Anderson, F&M Financial institution

Anderson’s household ties have at all times been sturdy. He was born right into a farming household in Choctaw, Okla., in 1927. His father’s household, members of the Residents Potawatomi Nation, farmed corn and cotton, and his mom got here from a produce farming household.

When Anderson was three, his father misplaced his job on the native utility firm. “We needed to skimp and save,” he says. “We picked cotton, and we chopped cotton and corn. We didn’t have a automobile, so we needed to stroll out to the fields. That made such an impression on me. So, each job I’ve had, I’d do the most effective job I might.”

In 1945, proper after highschool, he enlisted within the Navy, ending boot camp proper because the U.S. dropped the bombs on Hiroshima and Nagasaki. He was stationed on an plane service and took half in Operation Magic Carpet, which noticed U.S. troops gathering armed forces personnel from varied Pacific islands and dropping them off at San Diego or Pearl Harbor. “We have been part of a very joyful time, as a result of everyone was coming house,” Anderson says.

The banking journey begins

After he was discharged, he labored at a utility firm earlier than taking a job at Liberty Nationwide Financial institution in Oklahoma Metropolis in 1947. There, he labored his manner up from messenger to teller to the correspondence division. The latter is the place he met his spouse, Jo Laverne, who’s 93.

“She labored about 10 toes from me … and I assumed she was a reasonably handsome woman. I’d shoot a rubber band again there now and again simply to get her consideration,” he laughs. The couple celebrated their 73rd wedding ceremony anniversary in September.

Anderson (heart, standing), who’s chairman emeritus of F&M Financial institution; his three sons and one daughter, all of whom work on the group financial institution; and his spouse, Jo Laverne (seated).

However again to 1972. That 12 months, Anderson was senior vp of operations at Liberty when certainly one of his business connections, J.R. Gibson, who owned F&M Financial institution in Crescent, Okla., informed Anderson he was trying to promote as a consequence of well being issues.

“He stated, ‘If you’re , you’d be my first alternative,’” Anderson says. “I stated, ‘J.R., let me inform you that I don’t have any cash, I’ve no web value and I’ve no secondary supply of earnings. However I’ll see what I can do.’”

Anderson went to some colleagues at Liberty Nationwide Financial institution, and so they agreed to think about loaning him the $548,000 he wanted—about $4 million at present. “And I assumed, when you make me a mortgage, you’re most likely the worst mortgage officers I’ve ever run into,” he laughs. “However anyhow, they made that mortgage.”

Anderson says that when one of many presidents at Liberty heard concerning the mortgage, he stated, “Let me inform you one thing. You’re gonna be one of many final guys that may purchase a financial institution with simply sweat fairness.”

And so started the Anderson household’s possession of F&M Financial institution. It was a baptism of fireplace: The late Seventies and early Nineteen Eighties introduced a recession, excessive inflation and better rates of interest; Anderson was paying 18% curiosity on the mortgage he used to purchase the financial institution. However F&M survived by means of laborious work and the connections Anderson had made.

Reminiscences of John V. Anderson’s life in group banking and elsewhere.

Since then, the group financial institution’s development has been regular. It acquired a handful of distressed banks over time and opened branches to broaden its footprint. Anderson has been an energetic member of the Oklahoma Bankers Affiliation and ICBA, and he additionally sat on the board of First Nationwide Financial institution & Belief Co., a Potawatomi tribal financial institution in Shawnee, Okla. His son, John Tom Anderson, is a present director.

“We have now glorious relations with the tribe, and [F&M Bank] does some loans with the Bureau of Indian Affairs,” Anderson says.

Immediately, he and his household have their eyes on the longer term. “Proper now, we’re within the technique of drawing up guidelines for using members of the family,” he says. “We would like them to have a great training, and we wish them to work someplace else for 3 or 4 years to see what it’s wish to work for someone that’s very goal. We would like them to look at the identical requirements that everyone observes once they come to work for us.”

In 2019, Anderson was inducted into the Oklahoma Bankers Corridor of Fame. “I assumed that was one thing,” he says. “I’ve accomplished that by means of mentors and friendships, and in these 75 years I’ve made lots of buddies. I simply did the most effective I might at no matter job I had.”

John V. Anderson’s deep perception in training

Having gone straight from highschool to the Navy after which into the workforce, John V. Anderson by no means went to varsity.

His first employer in banking, Liberty Nationwide Financial institution in Oklahoma Metropolis, Okla., provided banking programs at no cost to its staff—so long as learners handed. “Nicely, I took benefit of all these programs that I might,” Anderson says.

Later, he went to the Graduate College of Banking in Madison, Wis., and likewise relied on mentors. “A few of them have been guys who had made it by means of in banking through the massive Despair,” he says. “They have been actually seasoned bankers, and I appreciated what they did to assist me alongside.

“I’m an actual believer in getting all of the training you could in a area that you simply suppose you’re gonna get pleasure from.”

Molly Bennett is govt editor of Impartial Banker.



Please enter your comment!
Please enter your name here