complete surprise. It’s a powerful motivator once people see what it can become.” LOOKING AHEAD The following 18 to 24 months will be a period of growth and fine-tuning for The Bank of Tescott. “Our top priority is ensuring the Beloit branch and community receive the same level of service and education that defines us,” Fief says. “We’re also planning to expand our staffing and bring on a new Chief Credit Officer to support our growth.” Schwerdtfager adds that the bank’s strong capital position will allow for continued expansion.“Whether it’s organic growth in our existing markets or new ago when the Berkley family decided they wanted employees to share in the bank’s success,” Fief says. “It’s been one of the best decisions we’ve made.” Schwerdtfager acknowledges that younger employees don’t always appreciate the long-term benefit at first.“Early in their careers, they’re thinking about paying rent and student loans, not retirement,” she says. “But when they get their annual ESOP statement and see the growth, it starts to click.” The impact can be life-changing. “We had an employee retire recently who thought their ESOP was tied to their 401(k),”Schwerdtfager recalls. “When they received a six-figure payout, it was a 125 BUSINESS VIEW MAGAZINE VOLUME 12, ISSUE 11 THE BANK OF TESCOTT
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