Published in Wisconsin Banker
July 2010

Voice of Experience
New WBA Chairman Bob Just relies on member support to prevent banking from taking any more of the blame

By Becky Nelson

Ask Bob Just whether he finds it daunting to become the Wisconsin Bankers Association chairman during a recession and an election year, and he will calmly say that there has never been a time when the industry was not demanding.

“As I look back on my career, it’s been pretty steady that way. Banking has taken it on the chin; we’ve not received a lot of good publicity. Most of it has been unwarranted and that’s very disappointing to all of us,” said Just, president and CEO of Mound City Bank, based in Platteville.Just acknowledges that the next year will be a busy time as lawmakers grapple with economic recovery and attempt to refine financial reform legislation.

He brings to his role 39 years of banking experience and a work ethic that took him from teller to bank president during that time. Yet he maintains a sincere humility about his achievements. “I was the beneficiary of a great opportunity,” he said, quick to acknowledge the efforts of others.

‘Standards Have Not Changed’
Just grew up in Wauwatosa, where he graduated from high school in 1965. He attended the University of Wisconsin-Platteville, where he met his wife, Joan, and earned a degree in political science and history.

With teaching in mind, he attended one semester of graduate school at Northern Illinois University – but Platteville was already home, and Joan already had a teaching job there.

Seeking a temporary job, Just became a teller at Mound City Bank in 1971. The bank had just $16 million in assets then, with two locations and eight employees. Just also spent time working in the trust department, then operations and consumer lending.

He was managing the bank’s securities portfolio and regulatory reporting by the time the previous president, Morlan Melby, announced his retirement.

“I had gained his trust and respect,” Just said. “He taught me everything he knew about banking. Things have changed, obviously, since his time, but he introduced me to a lot of standards that have not changed – standards that remain important today.”

Just became president of the bank in 1986, toward the end of the agricultural crisis. “We faced some troubled times with our agricultural loan portfolio. The year I took over, the bank reported its first loss
to shareholders, and it took us two or three years to get back to a satisfactory profit,” he said. “But we came through it in good shape; we minimized foreclosure activity. We negotiated a lot of problems without getting into confrontations with our borrowers.”

Mound City Bank added its second branch in Cuba City (the first was in Belmont) in 1992, doubled the size of the main office in 1995, and built a new motor branch across the street from the main office in 1996. Additional branches followed in Mount Horeb in 2007 and Mineral Point
in 2008.

Just said that one of his – and his bank’s – most significant accomplishments was the creation of a holding company in 1997, which allowed the bank to retain its independence. Today the bank has 66 employees and $256 million in assets.

‘Many Don’t Understand’
Just completed the Graduate School of Banking program at the University of Wisconsin-Madison in 1986, the year he became president, and rounded out his education with leadership in organizations including the United Way, Chamber of Commerce board, the Jaycees, the Southwest Health Center, and Platteville Business Incubator, Inc.

He learned from other bankers by serving on the board of directors for Bankers’ Bank in Madison under the leadership of Helge Christiansen. “I received far more than I gave,” Just said of his six-year term.

He got involved with the Wisconsin Bankers Association through the
Government Relations Committee (GRC) – a natural fit with his interest in politics. After serving as chair of the GRC, Just joined the WBA Board of Directors.

“Having a feel for the legislative process, and understanding the issues under consideration, was valuable in helping our bank in the planning process,” Just said.

“One of the biggest surprises from visiting our representatives in Washington and Madison is what little understanding they have of banking issues,” he continued. “Remarkably, many don’t even understand that credit unions don’t pay taxes – and even more disturbing, they don’t understand the competitive advantage
afforded them over banks or the long-term effects the policy will have on future tax revenues.”

‘We’ve Been Fortunate’
Happily, the economic recession has not made a dramatic impact on Mound City Bank.

“We’ve been pretty fortunate in Platteville,” Just said, noting that the bank’s foreclosure rate remains one to three per year, the same as before the recession. “The credit problems that we are experiencing are similar to what the other banks in Wisconsin are experiencing, and that’s in regards to commercial loan participations. We are working our way through those, and our exposure has been reduced significantly over the past year.”

From a regulatory perspective, Just said his bank is fortunate to be at a size to afford a full-time compliance officer and an internal auditor on staff, which is not the case for all community banks.

“Some of the newer policies within the regulatory reform bill will do further damage to our community banks and make it that much more difficult for them to be profitable, at very little advantage for the
consumer,” he said.

Mound City Bank also has committed the staff to keeping up with technological advances and social media trends. “Because we’re in a university community, it’s important to us to be current on banking
delivery systems,” Just said.

All WBA member institutions – in particular, smaller community banks – could benefit by using the association’s resources more extensively, he said. “Most of our members do, and can see that benefit, but there are others that are not utilizing products and services that would allow them to take full advantage of their WBA membership.”

‘There is Definite Concern’
“It is more important today than ever before for bankers to remain engaged with WBA,” Just said. “There is a definite concern that discouragement over bad PR for the industry, combined with troubling asset quality and less-than-optimum earnings will result in fatigue for
our bankers.”

The answer, he believes, is getting more members more involved with the association – through participating in a committee or section, attending conferences and continuing education events, enrolling a future senior manager in the Leadership Program and more.

Broader member participation would allow for “the exchange of ideas from bankers who are currently not communicating with us – and that would have a positive impact on the entire banking community,” resulting in a more unified voice for the industry, Just told the WBA Board and staff as he was inducted as chairman on June 9.

Strengthening grassroots advocacy will be Just’s biggest priority for the year ahead. “Our lobbyists do a fantastic job, but the loudest and most clear voice is going to come from the banker himself or herself,” he said.

The goal is threefold: to increase grassroots communications from bank leaders and staff to their elected officials; to improve fundraising to “increase the power of our purse strings,” and to encourage bankers, directors, employees and associates to get out the vote for banking- and business-friendly representation.

As he begins the role of WBA chairman, Just will have the support of his family – and his bank family.

He and his wife, Joan, have two children and four grandchildren. Daughter Sara and her husband, Tom Koeppen, live in Burlington with their two sons, Ryan, 8, and Joey, 5. Son Michael and his wife Katie also live in Burlington with their daughter Hayden, 3, and son Robbie, 2. “We find a lot of excuses to go to Burlington,” Just said.

The couple also enjoys playing golf, fishing and watching UW-Platteville Pioneers basketball, Badgers football and basketball, Brewers and Packers games.

Joan is a volunteer for Southwest Health Center and other community organizations.

The emphasis on family extends to work as well. “We have the most amazing family environment imaginable. We see each other through the good times and the bad times,” said longtime internal auditor Patti Cullen.

“I’ve worked with Bob for 30 years and watched him evolve from a loan and trust officer to becoming Mound City Bank’s reputable bank president,” she continued. “He’s consistently genuine to his stockholders, directors, employees, customers and community.”

Nelson is a freelance writer for the Wisconsin Bankers Association.