First Bank's back-to-basics approach: How knowledgeable relationship managers turn challenges into opportunities
At First Bank, we're proud of our multi-generational, family-owned and St. Louis-based heritage. As a one-stop financial resource and strategic partner for businesses across various backgrounds and industries, we proudly help clients turn challenges into opportunities.
In times of uncertainty, our counterparts will often focus on expense management, capital allocation, consolidation of business lines and management roles. The focus becomes on 'growth' markets, advisory fees and creation of industry-specialty groups with too few relationship managers covering vast geographic territories.
Our team of experienced commercial lenders features expertise across various industries, including manufacturing, distribution, health care and wholesale sectors. With a commitment to understanding the unique challenges and opportunities within each vertical, our team strives to provide strategic, comprehensive services designed to foster growth and success.
Offering a comprehensive, back-to-basics approach
Bucking national trends, First Bank's go-to market strategy hasn't changed in 115 years. It's evolved, but at the end of the day, it's the same as it's always been. We offer 'back-to-basics banking,' build long-term relationships and help clients navigate uncertain times. With First Bank, you can expect to receive personalized, local service from a single point of contact from start to finish.
With this comprehensive approach, we also have intelligence regarding our clients' vendors and customers.
expand
Possessing experience in unique, complex situations
Complexity of the current economic environment is not unlike other challenges that we've faced and navigated throughout our history.
As a stable, family-owned business, we have the experience to help you manage through it all. During times of uncertainty, it's wise
to not put your entire banking relationship with only one provider.
From our holistic advisory services to First Bank's Commercial Lending and Banking, we can expand your financial advisory team while not disrupting your main banking relationship. Together, we'll work to help you achieve your short and long-term goals.
Below are some industry-specific scenarios, illustrating how we've supported clients in addressing their unique needs:
1. Distributor scenario
During a national health and economic crisis, a First Bank client needed to make larger purchases from a primary vendor to maintain inventory allotment and improve margin opportunity. We understood this business needed to have temporary debt capital in order to move forward. First Bank stepped up to support this distributor with what they needed. After the crisis, the client normalized to a new, larger level of business maintaining enhanced margins.
2. Manufacturer scenario
A First Bank client manufactures and supplies to an industry with few customers, multiple needs and evolving demands. First Bank understands the struggles of high fixed asset investment, changing volume and rising costs. There will always be the need to adjust mid-year when the forecast starts to deviate with the annual budget.
3. Family business scenario
When a family business needs to work through the individual needs of each family member, a strategic partner can be an asset. When a First Bank client was expanding their manufacturing capacity, the owners needed to determine the future direction.
First Bank stood by and continued to offer support as family owners determined their next steps. We continued to support family members and the business simultaneously.
Serving clients across industries to achieve goals
First Bank's relationship managers are industry agnostic and have a broad line of sight into multiple industries without having to go out of market to get industry expertise. Our experts are relationship-focused, know your business and support you through the ups and downs.
By combining deep industry knowledge with a comprehensive suite of banking services, First Bank empowers our clients to navigate their unique challenges, pivot to overcome obstacles and achieve their business goals.
Visit first.bank/commercialbanking for more information on First Bank's Commercial Banking team and services.
Member FDIC
Possessing over 30 years of commercial and corporate banking experience, Skornia grew up working in a family-owned business. His expertise encompasses manufacturing, distribution, oil/chemical, commercial construction, technology and health care. He is a current member of Lutheran Senior Services Finance Committee and former board member of the Association of General Contractors. Skornia has a Bachelor of Science degree and an MBA from the University of Central Missouri. Contact him at mark.skornia@fbol.com or 314-277-4543.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
35 minutes ago
- Newsweek
Kroger To Close 60 Stores Across US: What To Know
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Kroger announced plans to close 60 of its supermarkets across the United States over the next 18 months, representing about 5 percent of the Cincinnati-based company's 1,239 Kroger-branded grocery stores across 16 states. The popular grocery retailer revealed the closure plans while reporting first-quarter earnings on Friday but has not specified which store locations will be affected or released a list of impacted stores. Newsweek reached out to Kroger on Saturday via email for comment. Why It Matters Companies close store locations for various reasons. While shifts in consumer shopping behavior and lower demand can cause stores to close, corporations often choose to shutter underperforming locations. Sales dropped slightly to $45.1 billion compared to $45.3 billion for the same period a year earlier according to Kroger earnings data. The move comes as grocery retailers nationwide face mounting pressures from changing consumer habits, inflation, and increased competition from discount chains and online retailers. More than 2,500 store closures are planned across the U.S. this year, according to The Mirror. What To Know Kroger expects the 60 store closures to provide a modest financial benefit to the company, according to a regulatory filing. In the first quarter, Kroger recognized an impairment charge of $100 million related to the planned closings. The company indicated that resulting savings will be reinvested into customer experience initiatives across remaining locations. The closures affect Kroger's extensive footprint spanning 16 states, though the company has remained tight-lipped about specific locations. The grocery retailer told CBS MoneyWatch that it will not be releasing a list of the affected stores. This lack of transparency has left employees and customers uncertain about which communities will lose their local Kroger. However, Kroger says it is committed to supporting displaced workers. All employees at affected stores will be offered roles at other Kroger store locations, though details about relocation assistance or wage protection remain unclear. The timing coincides with broader challenges facing traditional grocery retailers. Many chains are grappling with rising operational costs, changing shopping patterns accelerated by the pandemic, and fierce competition from warehouse clubs, dollar stores, and e-commerce platforms. FILE - This June 17, 2014, file photo, shows a Kroger store in Houston. Kroger Co. FILE - This June 17, 2014, file photo, shows a Kroger store in Houston. Kroger Co. AP Photo/David J. Phillip What People Are Saying Kroger company statement: "As a result of these store closures, Kroger expects a modest financial benefit. Kroger is committed to reinvesting these savings back into the customer experience, and as a result, this will not impact full-year guidance." Director of Media Relations/Corporate Communications Erin Rolfes told Newsweek in an email response: "In the first quarter, Kroger recognized an impairment charge of $100 million related to the planned closing of approximately 60 stores over the next 18 months." Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, previously told Newsweek: "For some major retailers, 2025 is becoming a year of consolidation. Retail locations that have struggled in recent years to remain profitable due to rising costs and less demand are being shuttered, as companies focus their efforts on more successful stores. The hope is these closures will ultimately produce more fiscal and operational efficiency, but it will come at the cost of customers who favored these locations having fewer options." Michael Ryan, a finance expert and the founder of previously told Newsweek: "These aren't random casualties; they're strategic amputations of unprofitable limbs to save the corporate $15+ minimum wages to supply chain inflation, all crushing their razor-thin margins. Combine this with the march of e-commerce and changing consumer habits post-pandemic, physical retail becomes a luxury many companies can no longer afford." What Happens Next The 18-month closure timeline suggests Kroger will implement the plan gradually, though specific dates and locations remain undisclosed.
Time Business News
an hour ago
- Time Business News
Shaping the Future of Leadership: The Strategic Role of C-Suite Executive Recruiters in NYC's Innovation Economy
New York City is more than just a business hub—it's a breeding ground for innovation. From fintech startups in Flatiron to global media empires headquartered in Midtown, the city pulses with disruption, reinvention, and opportunity. But behind every transformative business model is a leadership team equipped to execute with clarity and conviction. That's why C-suite executive recruiters in NYC have become indispensable partners to organizations looking to build forward-thinking, high-impact leadership teams. As NYC continues to position itself as a global leader in technology, sustainability, life sciences, and AI-driven enterprise, the profile of its executive leaders is shifting. Today's CEOs, CFOs, CMOs, and CTOs must not only bring proven management expertise—they must also possess the vision to navigate uncharted terrain. Traditional leadership search models aren't always equipped to address these evolving demands. That's where niche C-suite executive recruiters in NYC come in. These firms specialize in identifying talent who are not just functional leaders but are also fluent in innovation, adaptable to change, and capable of aligning with both investor expectations and market disruptions. NYC companies operate at breakneck speed. Whether in finance, media, health tech, or retail, market shifts happen rapidly—and leadership decisions must keep pace. But that doesn't mean companies can afford to cut corners when hiring for the C-suite. Every executive hire affects company culture, investor confidence, and long-term strategy. Executive recruiters mitigate this risk by offering both speed and precision. They leverage deep networks, proprietary search methodologies, and psychological assessments to vet candidates not only for technical fit, but also for values alignment and long-term leadership potential. In a city where the wrong hire can make headlines—and the right one can shape an industry—this level of rigor matters. One of the most valuable assets C-suite executive recruiters in NYC bring to the table is access to passive talent—executives who are not actively job-hunting but are open to compelling, strategically aligned opportunities. These individuals rarely respond to job postings or recruiter cold calls. Instead, they rely on trusted relationships and discreet introductions. Recruiters with long-standing reputations in NYC's leadership circles know how to initiate these conversations, build trust, and guide top candidates through complex, high-stakes transitions. Another area where modern C-suite recruiters are having a tangible impact is in advancing leadership diversity. In an increasingly global and socially conscious market, companies are under pressure to build executive teams that reflect the diverse perspectives of their customer base, employees, and investors. The best NYC-based recruiters proactively cultivate diverse candidate pipelines and advise companies on how to remove bias from their hiring processes. This not only strengthens brand reputation but also enhances business outcomes. Studies consistently show that diverse leadership teams drive better innovation and financial performance—a critical advantage in NYC's competitive sectors. As a leading name among C-suite executive recruiters in NYC, BCL Search brings a modern, strategic approach to leadership hiring. By combining deep market insight, long-standing industry relationships, and a highly personalized search process, they help companies build leadership teams that are not just ready for today—but equipped for the future. Whether you're seeking a transformational CEO or a digitally savvy CMO, BCL Search delivers the strategic partnership needed to secure world-class executive talent. TIME BUSINESS NEWS
Business Insider
2 hours ago
- Business Insider
Mistral AI CEO says AI's biggest threat is people getting lazy
As tech leaders continue to debate the potential impact of artificial intelligence on the job market, one CEO says the technology's biggest risk may be "deskilling." In an interview with The Times of London, Arthur Mensch, the CEO of the Paris-based firm Mistral AI, dismissed the idea that AI would lead to huge cuts to white-collar jobs, saying the bigger risk was that people may become progressively lazier as they increasingly rely on the tech to search for information. Speaking to the outlet at the VivaTech conference in Paris earlier this month, Mensch, who cofounded the open-source large language model developer alongside Guillaume Lample and Timothée Lacroix in April 2023, said that a key way to avoid this would be to ensure humans remained actively involved in reviewing and critiquing AI output. "It's a risk that you can avoid, if you think of it from a design perspective, if you make sure that you have the right human input, that you keep the human active," he said, adding that he believed it was important humans did not take AI output as the "truth." "You want people to continue learning," he continued. "Being able to synthesize information and criticize information is a core component to learning." Mensch, a former Google DeepMind researcher, also responded to recent warnings that AI poses a threat to white-collar jobs, including from Anthropic CEO Dario Amodei, who recently said that AI could replace half of all entry-level white-collar jobs within five years. "I think it's very much of an overstatement," Mensch said, adding that he believed Amodei liked to "spread fear" about AI as a marketing tactic. Instead, Mensch said he thought AI would change white-collar jobs. "I do expect that we'll have more relational tasks because that's not something you can easily replace," he said.
