Incoming Chairman brings a unique blend of experience

Tom Stanberry knows a thing or two about leadership. Since 2004, Tom has served as chairman, president and CEO of West Bancorporation and its subsidiary, West Bank, in West Des Moines. The current IBA Chairman-elect is also an active member of the community and father of four, and he admits that finding spare time is “kind of tough.” Though he is now a community banker, Tom’s years of experience as an attorney and investment banker bring a unique blend of expertise to the IBA’s highest leadership position.

“I think a key to leadership is to surround yourself with really good people,” Tom said. He credits West Bank’s history of success to its highly-skilled and highly-experienced staff. Today, the $1.3 billion bank conducts business at 10 branches in Des Moines, Iowa City and Coralville. West Bank also offers investment management services through its affiliate, WB Capital Management Inc. Together, the organizations employ nearly 200 people. 

“I take a lot of pride in seeing the organization succeed,” Tom said. He first developed a relationship with the bank as an attorney in the 1980s.

An Indianapolis native, Tom graduated from Wabash College, a private college in Crawfordsville, Ind., in 1976. He then earned his juris doctorate from Drake University Law School in 1979 and spent 10 years as an attorney at what is now Ahlers & Cooney in Des Moines. Tom served as the lawyer for West Des Moines State Bank in the 1980s when a group of local investors purchased the family-owned bank.

Tom joined the Des Moines office of investment firm Piper Jaffray in 1989. While at Piper, he transferred to the Minneapolis office and became a senior investment banker and president of the company’s fixed income division.

A strong relationship with West Des Moines State Bank led Tom back to Des Moines in 2003 to serve as chairman and CEO of West Bancorporation and vice chairman of the Bank, which then formally became West Bank. Following the retirement of Dave Milligan in 2004, Tom assumed the roles of Chairman and CEO of West Bank.

Today as a community banker, Tom understands the struggle that many banks in Iowa. Tom said these challenges, coupled with customers’ needs and pressure from regulators, make it a very challenging time for the banking industry; however, Tom is confident in West Bank’s future.

“We have a very strong foundation at West Bank. We will weather the storm,” he said, noting that the Bank is also determined to solve customers’ problems and ensure they don’t happen again.

Tom’s legal training and investment-banking experience have been valuable preparation for his current role at a community bank. He said past experience working with clients, developing new business and maintaining relationships was excellent training for the business development side of banking. His legal training has also been valuable.

“Legal training and the way you’re taught to think as a lawyer is a positive attribute for any leadership role,” Tom said.

Tom enjoys spending time with his family, which includes wife Paula and four daughters (ages 3, 5, 16 and 18), who Tom says are “pretty well grounded.”

“We’ve instilled in all of them a sense of social justice,” Tom said. “We’ve always told them that there are givers and takers in the world, and they need to be givers.”

Tom himself has chosen to be a giver. As an active member of his church, he has co-chaired a capital campaign and this summer joined one of his daughters on a mission trip to Mexico.

Tom recently completed two years as Chairman of the Board of the Central Iowa Chapter of the American Red Cross and currently serves on the boards of the Greater Des Moines YMCA, Civic Center of Greater Des Moines, Wabash College and Drake University Law School. As IBA Chairman-elect, Tom has led the BUILD campaign to raise funds for the banking industry’s political action committee.

Among his experience with other trade associations, Tom has found the IBA to be the most effective in recognizing issues, mobilizing people to take action and addressing issues proactively.  Tom noted the IBA’s role in providing a collective voice to speak on behalf of the industry to both regulators and legislators.
 
“The power of the collective voice of the IBA is much more powerful than a single banker,” Tom said. 

IBA President and CEO John Sorensen said Tom is well-suited to lead the IBA.

“Tom brings a unique perspective to his Chairmanship of the IBA.  In today’s rapidly changing world of financial services, his combined experience as an attorney, investment banker, and now community banker has and will serve our industry well. We applaud him for his willingness to share these talents with our Association of Iowa bankers,” Sorensen said.

“Tom is also a giver of his time and talents to many charitable organizations.  Tom and his wife, Paula, are wonderful role models in the greater Des Moines community,” Sorensen added.

2007-08 IBA Chairman Jim Schipper will pass the gavel to Tom during the IBA’s Annual Convention in Des Moines later this month. As Chairman, Tom said he looks forward to meeting bankers across the state and spending more time beyond his peer group and the Des Moines and Iowa City area. He expects to learn more about what rural and urban banks are facing.

“I expect it’s going to be a big educational opportunity for me to learn a lot more about what other community banks across Iowa are facing, and help direct the IBA’s resources to help them,” Tom said.

Not too late to register for upcoming IBA Annual Convention

Imagine the possibilities, invest in the future and inspire the next generation at the 2008 Iowa Bankers Association Annual Convention. There is still time to register for the event, which will take place Sept. 21-23 at the Polk County Convention Complex in Des Moines.

The Convention features opportunities for networking and learning, including an outstanding line-up of keynote speakers. Political columnists Bob Beckel and Cal Thomas will discuss  the issues that divide America along partisan lines. Monday’s Ag Breakfast on Sept. 22 will feature an economic outlook for the banking industry and ag economy presented by Dr. Edmond Seifried.

Tuesday’s Legislative Symposium will feature a panel experts, including Dr. David Kohl, prepared to discuss Iowa’s ag economy and problems in the national housing markets.

The Convention will conclude with former Navy SEAL and best-selling author Marcus Luttrell sharing his incredible story of courage and survival.

Get more details or register on the IBA Web site at www.iowabankers.com under “Featured Events.” A registration form is also available in this week’s edition of Extras.

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