Eichinger: Banking to Build Others Up
Michael Eichinger, AVP/credit analyst for Kerndt Brothers Bank, is a continuous learner and enjoys helping others understand their financials. Eichinger strives to build trusting relationships with clients built on consistency and respect. He believes there is nothing more rewarding than seeing a business grow, thrive, and become a competitor in its market.
Eichinger said the IBA Commercial Lending School has provided valuable information to him and his bank, and he also enjoys connecting with other bankers through IBA events. When he’s not working, Eichinger enjoys spending time with his 8-month-old daughter, reading and golfing. He seeks to always do the “right thing” without expecting anything in return.
What drove you to choose a career in banking?
When I went to college, I thought I wanted to be an accountant. However, I was bartending at the time, and I was beginning to struggle to see myself locked in a cubicle alone. I was looking for a career where I could use my accounting and financial analysis skills, paired with working with people and helping them grow. My favorite thing is when you are able to help a borrower learn their own financials, and then they start asking you questions about why certain parts look the way they do.
Describe one life experience that taught you a lesson that you apply to your banking career.
If you are just chasing the numbers, you’re doing it wrong. In construction, you can chase after your ‘white whale’ jobs that are really large with a high margin and also one-in-a-million. I found that the best salesmen at our company developed relationships with contractors and made sure to treat each and every job with the respect it deserved. When you do a great job for them, those contractors refer others, helping those salesmen build a consistent book of business.
What is your best elevator pitch for why banking is a great career?
For me, banking is a great career because of all the people you can help build up. You can become an asset to a lot of people from a lot of different walks of life. Every client’s business is different, so every time you meet with a client, you have the opportunity to visit a different type of business and learn more about it. I love to learn, and banking provides an opportunity to learn about all sorts of different businesses that you may have otherwise never had an opportunity to walk through their doors. There’s not a lot that is more rewarding than watching a business grow from a small ‘mom and pop’ operation to a legitimate force in their market.
Another big factor is the work-life balance. Before banking, I was in construction sales, which was weighted much more heavily to the work side of things. Having our daughter has made me very thankful for the career I am in now, and how flexible the schedule can be to accommodate for her.
how does getting involved with the iowa bankers association help you and your bank?
I am still relatively new to the world of banking. For me, the IBA provides an opportunity to meet with other bankers throughout the state and see the way that they do things. The IBA Commercial Lending School provides different ways to look at credits and exposes us to different ratios that we may not be currently utilizing. We have already begun utilizing a couple of points from the school in our credit presentations. Not only that, but the IBA Commercial Lending School also provides a great opportunity to network with other bankers. I’ve met some great people through the IBA, and I can’t wait to do more.
when you’re not at work, what do you like to do most?
We have an 8-month-old, and she keeps me very busy outside of work. As a result, most of my free time is spent hanging out with her, watching her learn & reading books with an average of 6 pages. When I have time, I like to read books with a few more pages than that or play some golf when the weather permits. I’ve also always been a big football fan – I love the game at any level. It’s probably unlikely that my daughter will want to play football (never say never!), so I’ve been mentally preparing to learn how to coach a different sport when that time comes.
what is a quote or guiding principle you live by?
Always do the right thing – and do it because it’s the right thing, not because you want something out of it.