Flying bankers?

Northwestern Financial Review, Feb 1-Feb 14, 2003 by Bengston, Tom

[straight talk]

Have you ever heard of the Flying Bankers Association? I hadn't until I got a phone call from Bill Bond last fall telling me that the Minnesota Bankers Association was holding some money for the association in trust. An auditor suggested MBA move the money out of its responsibility. Bill, the executive vice president and chief executive officer of the MBA, was calling to see if I would be willing to take custody of the funds. I said "sure."

Bill and I are pilots, licensed to fly single engine aircraft. Bill took me for a ride once in the Cessna 172 he flies. It was a clear day and we got a great view of the Twin Cities, including Bill's home in a northern suburb.

I fly a Piper Warrior, although I haven't been up by myself in nearly three years. The responsibilities of a growing family have cut into my flying time. Nonetheless, I keep reading the flying magazines and hold onto a dream of getting an instrument rating. Bill sometimes flies his plane to industry meetings and I'd like to be able to do the same.

I am told that years ago, there was a very active group of bankers who were also pilots. They would host fly-ins that would attract dozens of bankers from throughout the Upper Midwest. I am not aware of any such events taking place now, but if I knew there were some bankers out there interested in participating in a fly-in, I would be willing to help get one organized.

I have always thought that bankers and pilots have something in common. They both have to be good at assessing risk. Good pilots navigate their way through stressful situations by understanding their environment, knowing the capability of their equipment, managing their resources well, and assessing their options quickly and accurately. A little bit of luck can also be a big help. The same thing has to be true in banking. The only difference is that instead of relying on a global positioning system to tell you where you are, you might use a spreadsheet. And instead of radioing Flight Watch for a weather update, you might talk to an economist to get a sense of where interest rates are going.

If you are a pilot, send me an e-mail (tom@nfrcom.com). Tell me a little about your experience and what kind of plane you fly. If I get enough responses, perhaps I can put out a call to organize some kind of event. It could be held in conjunction with some other already-established industry meeting. Or maybe the pilots in the banking world would like to get together for their own event. Either way, I know we could have a lot of fun.