Banker takes post as head of Nebraska banking department

Northwestern Financial Review, Feb 1-Feb 14, 2005

John Munn, the former president and CEO of First National Bank & Trust of Syracuse, Neb., has been named Director of the Nebraska Department of Banking and Finance, by Gov. Mike Johanns. The previous Director, Sam Baird, retired at the end of 2004.

Munn, 57, had been president and CEO of the bank since 2001, and put in his last day on Jan. 11, before starting his new post on Jan. 18. From 1983 to 2001, Munn was senior vice president and director of Cornerstone Bank, N.A., in York, Neb. He has also held positions as correspondent officer for National Bank of Commerce in Lincoln, and vice president and director of The Cattle National Bank in Seward.

"I didn't seek the job, but I had known Sam Baird was retiring," commented Munn. "Some bankers encouraged me to apply. I talked to Sam and others and I put my name in." Munn was interviewed by Lt. Gov. Dave Heineman.

"I have been in community banking for more than 30 years. You only go around once in life, so I thought why not try this kind of service," Munn said.

"I am confident that John has the experience and knowledge to serve our state well as the director of banking and finance," said Gov. Johanns. "He is respected within the financial services industry and he clearly understands the importance of protecting the public confidence in the industry."

"I am honored with this opportunity to serve the state and the financial services industry," Munn said. "Our industry is an important component of the economic engine of Nebraska. I look forward to carrying on the department's tradition of providing fair and efficient supervision of financial institutions on behalf of the citizens of Nebraska."

The Nebraska Department of Banking and Finance is responsible for supervising banks and trust companies, credit unions, savings and loan associations, mortgage lenders, payday lenders, and securities professionals such as broker-dealers and agents. Nebraska has 185 state-chartered banks.

Munn said his biggest challenge will be learning the non-banking sectors of the financial services industry which the department supervises.

Munn has served on the boards of the Nebraska Educational Finance Authority and the Nebraska Bankers Association. He is a past president of the Schools of Banking, Inc., where he was an instructor.

Munn has a bachelor's degree in education from Nebraska Wesleyan University. He is a graduate of the Colorado Graduate School of Banking.

A statement issued by Gov. Johann's office said Munn will be paid $85,000 per year. Although the job is a full-time post, Munn said he hopes the position will require less time than the 60 to 70 hours per week he regularly put in as a bank president.