Business View Magazine | Volume 9, Issue 1

75 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 1 “When we started, we had a handful of investors and about three million dollars in capital, which at the time was enough, but today would not be anywhere near enough capital to start a bank. Since I had almost 20 years of commercial banking experience, plus a team of seasoned bankers around me, we were able to use this capital to jumpstart the bank.” As the bank began taking in customers, the founding team soon realized two things would help them grow faster – mastering operations and hiring smart, motivated people. As Jacobson explains, “Most bankers think that starting a bank is just about issuing loans. While working in the banking industry, I discovered that operations could make or break a new bank. I also knew that micromanaging just was not going to work. So, we resolved to focus on operations early on and hire smart and motivated people who could work with little supervision. These two things are the main reason we have grown so fast and NEBRASKALAND BANK maintained an excellent balance sheet.” Leveraging these two areas of focus, plus an entrenched relationship-building culture, the bank achieved profitability within just a first few years of inception. Another significant milestone Jacobson notes is that the bank has only incurred about $300,000 in net credit losses since its founding, even factoring in the credit crisis of 2008/2009. Today, NebraskaLand Bank has close to $900 million in assets and operates out of six locations, including a subsidiary, Commerce Bank of Wyoming, in Rock Springs, WY. Although the bank offers personal banking services like checking and savings accounts, its primary focus is on business banking, including commercial