Nebraska banker has knack for producing champions

Northwestern Financial Review, Jun 15-Jun 30, 2004 by Dullum, Justin

Janell Beveridge is a banker by destiny, if not design. Beveridge, president of Bank of Paxton, Neb., and a 2004North*Western Financial Review Rising Star, became the bank's leader unexpectedly and overnight. She rose to the occasion, doubling the size of the bank and, even more admirably, found balance following the personal tragedy that catapulted her into business leadership.

Beveridge moved to Paxton in 1980 following her dream to work as a physical education teacher and coach.

"My family was in the funeral business, so I knew how to approach business, but throughout high school and college I knew I would be a teacher," said Beveridge. "It's what I had always expected for myself."

She accumulated grades and references good enough throughout college to be able to name the town in which she would start her teaching career. She chose Paxton since it offered an immediate position as head volleyball coach. She coached and taught for two years before meeting Jody Beveridge, who owned the Bank of Paxton. Jody himself became somewhat of an unlikely bank president when his uncle, the bank's previous owner and president, died of a massive heart attack in 1979. His will left the bank to Jody.

"He had worked at the bank for seven years previously, but kind of had the president position dumped on him all of a sudden," said Beveridge. "A correspondent bank in Lincoln sent somebody out and got him up to speed."

Janell married Jody in 1982. In 1989, Jody was killed in a car accident. Janell suddenly found herself a widow, the single parent of an 18month-old daughter, and the majority owner of an $11 million family bank. And although her career as a coach had been a resounding success - seven state tournament appearances, two runners-up and one state championship in nine years - she decided to hang up the clipboard.

"I didn't feel it was my place to sell the family business," said Beveridge. "A little town is a good place to raise your daughter. So I chose to stay here and run the bank."

Beveridge had worked at the bank part-time doing a little teller work and some proofing. She also had sat on the board as family, but was otherwise unfamiliar with the nuts and bolts of running a bank. She took a page from Jody's book of banking. "After he was suddenly made president, he surrounded himself with good people," said Beveridge. "He had a good accountant, a good attorney, good officers - it's what you need to do when thrust into such a situation."

Beveridge took the ball and ran. She and her new team have grown the bank to $21 million. She also has pursued a leadership role in the industry and has sat on the board of the Nebraska Independent Community Bankers for a year.

"She's a neat lady," said Kurt Yost, NICB's executive vice president, "She cares a lot about her community and her industry. She's just a great person to be around."

Beveridge has proven her talent for taking on new challenges in other ways. When one of the commissioners on the Nebraska Racing Commission, which regulates horse racing, fell ill with cancer, Beveridge was asked to complete the remaining three months of his three-year term. Having no significant horse racing experience, Beveridge was appointed on a recommendation given to the governor's office by a friend. As someone who is comfortable in unlikely positions, Beveridge has excelled as a leader on the commission during a critical time for horse racing in the state. Soon after her appointment, she voted, amidst fiery contention, to allow the construction of a new track in Omaha that would feature simulcast racing.

"It was a tough decision, but it saved racing in Omaha," said Beveridge.

Beveridge has since been appointed to two consecutive terms on the commission. "She's a business leader and understands the agricultural relationship between ranching and horse racing," said Dennis Oelschlager, executive secretary of the commission. "She brings a lot of common sense and integrity to the function of the racing commission."

While her successes loom large, Beveridge's personal goals remain humble. "If I can pay my expenses, pay the bank's overhead, and raise my daughter, Fm happy," said Beveridge, whose daughter recently completed her sophomore year of high school and played on her school's Volleyball team, which happened to win state this year.

"Things have kind of come around full circle," Beveridge said, the pride in her voice apparent.

By Justin Dullum