Community Banking: A Glimpse in the Life of CEO Erik Skovgard
In celebration of Community Banking Month, we asked Erik Skovgard, Lincoln Savings Bank President and CEO, to share how community banking has personally impacted him. We are thrilled to showcase his personal points of pride, community banking experiences, and advice for those seeking to be a part of Lincoln Savings Bank.
In your own words, how would you describe community banking?
Community Banking got it roots in small communities. People who live in small communities understand that to have strong communities there are four key pillars to survive and prosper: excellent schools, a healthy and growing main street, vibrant churches, and a strong community bank. Community bankers invest money and time in to making sure their pillar and the other three pillars are successful. At Lincoln Savings Bank, we understand that our bank and our communities have a symbiotic relationship.
What are some of the benefits customers can see within their community because of Lincoln Savings Bank?
The top benefit is our people. Our people are encouraged to passionately grow their communities. We encourage Team LSB to make a difference in their community. We do this through providing credit to support economic growth, volunteering our expertise and sweat equity to support local causes, and finally through offering financial support to local philanthropies.
Share an instance where Lincoln Savings Bank has been able to help customers when perhaps a non-community bank would not have.
When I first moved to Reinbeck, I heard multiple stories where Lincoln Savings Bank helped farmers through the eighties agriculture crisis, especially when national banks and Farm Credit exited the market. Today we’re constantly looking for ways to support our area businesses in their development, security, and philanthropic efforts. Simply look at any town board in our small communities and I bet you will see representation from Lincoln Savings Bank on nearly every one of them.
What is a memory you have that has made you proud to be a community banker?
Lately, I have been so proud of local office engagement. There is not a week that goes by without evidence of Lincoln Love at work. Our people are truly everywhere getting involved and making a difference in their communities. They are on the front-line improving quality of life in our communities and making our communities stronger.
Erik Skovgard started his Lincoln Savings Bank career straight out of the University of Northern Iowa. After learning the ropes in the bank’s IT department, Erik developed into a sales leader, eventually becoming the Executive Vice President of Financial Services before transitioning into the CEO role. Erik has been the CEO and President of Lincoln Savings Bank since 2014. In the past five years Lincoln Savings Bank has expanded into the Des Moines and other rural markets, growing their lending and community impact opportunities.
If you’d like to learn more about Lincoln Savings Bank and their involvement in local activities, click
HERE to read more about the LSB Foundation.
Lincoln Savings Bank. Member FDIC.
