2004 Rising Stars in Banking

Northwestern Financial Review, Jul 15-Jul 31, 2004 by Dullum, Justin

North Dakota banker offers leadership with a voice

As a play-by-play announcer for high school football, Tim Siegle is known in Cavalier, N.D., as the Voice of the Tornados.

"I love it. It's fun," said Siegle. "I grew up with sports. And now I've got kids involved so I'd be at the games anyways."

His radio voice also serves as a voice for the banking industry. Siegle recently joined the board of the North Dakota Bankers Association, where he said he looks forward to fighting for banks' best interest. The charismatic president of United Valley Bank in Cavalier, and a 2004 North'Western Financial Review Rising Star, has seen his own bank more than double in size since he took over eight years ago.

The Tornados have also had a good run. Cavalier won the state championship in football this year, and Siegle's son played on the team.

"Someone asked me once if as an announcer I'm biased and I said, Oh, you bet I am!'" said Siegle, who brings the same bias and clarity of voice to his organization and industry.

"Farm credit is a tough issue in North Dakota," said Siegle. "It's a tax exempt industry that cherry picks our best customers by offering them rates we can't compete with. It's not competitive. It's unfair. Give us a level playing field and we'll compete."

Siegle's family forged his career path as a banker. His grandfather was once president of Citizen State Bank in Finley, N.D. Siegle worked entry-level bank jobs while in college before taking a position as a loan officer with the First National Bank of Walker, Minn. Meanwhile, Siegle's uncle, Dick Solberg became president of State Bank of Fargo. Solberg asked Siegle to join his team. Sielge spent "13 fantastic years at the Fargo bank," which now is called State Bank & Trust, he said.

"I'll never forget the things I learned at that bank and that Dick gave me a chance," said Siegle. "He believed in me and I believe in giving others a chance to succeed."

The board of United Valley Bank, which was searching for a new president in 1995, gave Siegle his next big chance. The board had coincidently hired a friend of Siegle to aid them in their search. Siegle wasn't immediately convinced the job was for him.

"At the time, I didn't have any interest in leaving Fargo," he said. "Yet when I came up and looked at the community of Cavalier, I decided this would be a great place for my wife and I to raise our family."

Siegle took over the bank's presidency in 1996 and within three years, he had coordinated a major branching operation into Grand Forks, N.D. In 2003, the bank opened a second branch in downtown Grand Forks. This past April, the bank closed on a deal for Argyle State Bank in Minnesota. Following that acquisition, the bank's assets grew to just shy of $100 million.

United Valley Senior Vice President Barry Hanson said Siegle has led every step of the charge. "Tim is a real positive guy," said Hanson. "He's energized. He's passionate about his community and his employees. He has an obvious passion for people. He looks out for a lot more than our bottom line. Those who do business with our bank are considered family to him."

Siegle said the bank had to branch into competitive markets to insure its survival. "We're in a predominantly agricultural community," said Siegle. "We needed to diversify ourselves. The growth in our community has not declined, but it has been flat. If we want to grow, we need to rely less on agriculture."

Tim Horpedahl manages the Grand Forks branch. He described Siegle as a people person who sets the bank's tone from the top. "He's a pleasure to work for and very supportive of his staff here," said Horpedahl. "And we've done well. We have been able to find our own niche of personalized service."

Operating in different markets has been a great challenge, said Siegle; but like most good leaders, he surrounded himself with the right people. "It's a very competitive world, but the truth is, you're only as good as the people working for you," he said. "I've got some of the greatest employees in the world. Our bank is all about them. It's not about Tim Siegle. We're a team."

By Justin Dullum