Fighting for Community Banks on a National Level
Tim Zimmerman, president and CEO of Standard Bank in Monroeville, Pa., wasn’t always a banker, but he has always been a “finance guy.” Tim’s recent election to the Executive Committee of the Independent Community Bankers of America (ICBA) is the latest addition to his growing service to the community banking industry.
Just out of college, Tim went to work as an auditor for Peat, Marwick, Mitchell & Co., a public accounting firm now known as KPMG. He passed the examination and became a certified public accountant. He did a lot of traveling, and many of his clients were financial institutions, especially community-based ones. When the time came that he was ready to stay in one place, banking seemed to be the right fit. His first banking job was with a predecessor of Landmark Savings Association in 1977. After 15 years and a few promotions, he left Landmark and took the job as president and CEO of Standard Bank, a position he still holds today.
While managing a community bank for over 20 years, Tim has seen a lot of changes in the industry. “The industry overall has become much more complex—there has been a tremendous increase in the number of products and services offered to customers,” says Zimmerman. He also mentioned the ever-changing technology, debit cards, online banking, and now mobile banking that are becoming the industry standard. Standard Bank started using the secondary mortgage market shortly after Tim started there, something that significantly changed the way they are able to run the business. The secondary market provides a way to control interest rate risk and to provide more customers with long term fixed rate mortgage loans. “No matter what changes we make to the way we do business, the customer remains our priority,” Tim says. “Offering competitive products and great customer service are two things that haven’t changed over the years.”
In part because of the ever-changing industry, Zimmerman has always seen the importance of organizations such as Pennsylvania Association of Community Bankers (PACB) and ICBA to community banks. He has become more involved with the organizations during his tenure at Standard Bank. “PACB has always been a strong organization, advocating for community banks that are too small to do it on their own,” he says. According to Zimmerman, this advocacy is important for Standard Bank and other banks like it. He is currently a member of the PACB board of directors and serves as its Strategic Planning Committee chairperson. He has also recently served as the chairperson of the Legislative Committee.
Read the full article in June’s issue of Transactions. Aren’t a subscriber? Visit the Transactions page on this website or call PACB at 717-231-7447 to start receiving the magazine.