YOUR BUSINESS AUTHORITY

Springfield, MO

SBj photo by emily letterman

A Conversation With ... Diane Homan on market growth

Posted online

You’re Central Trust Co.’s new market executive following Jami Peebles’ retirement. What does the job entail?
My previous role was the market administrative leader, managing that department. That’s the daily administration of our accounts. I worked closely with Jami, and in November when she had her surgery, I assumed some of her duties, because we thought she was coming back, of course. Then after her retirement, I was interim until I was appointed a couple weeks ago. Before, I reported to the executive here. Now, I am responsible for the entire market. That includes budgeting, growth, personnel, anything that has to do with Springfield and southwest Missouri. In addition to my role here, I served on the Senior Relationship Managers Committee for the company. I was able to help implement policies and procedures on the administrative side.

Peebles was in the role eight years. Has the office handled the transition well?
From my perspective, it has been pretty much seamless. I worked very closely with Jami as part of the management team here. For basically the last six months, I had been in that role. There really haven’t been any major changes and I don’t see the need for that. My style is very participative in the sense of encouraging staff to bring ideas, comments and possible changes to the table. Not one person is going to run a department or a location or a company.

Central Trust recently crossed the $1 billion mark in local assets administered – up from $945 million in 2015. What put the company over that milestone?
Client relationships are key. A lot of that growth has come from within. We’ve had additions from current clients, but we’ve also been able to work with new clients through family situations that have changed. That can be from retirement, it can be from selling a business, an inheritance. We’ve also focused a lot on financial planning, not just estate planning – providing retirement projects and cash flow analysis for our clients. It doesn’t matter if you have the largest budget or the highest net worth or you don’t have very much, that projection is still very important for that person. We can help them see if they have enough money to complete their goals.

What’s the next step after $1 billion?
It’s $2 billion. Really, it’s slow continuous growth. You can’t grow at that pace without continuing to take care of your clients. We are growing internally, externally from prospects and also going into other markets. We have a great partnership with the West Plains Bank and Trust, where we are providing trust and investment services for their clients. It’s opened up an area for us.

There’s been movement in local trust companies over the last 10 years – the purchase of two independent firms by banks and most recently the startup of Missouri Trust & Investment Co. What does that say to you?
I was at Springfield Trust Co. when Central Trust bought it and went through that merger. I’ve worked in both the independent and corporate trust world and there’s really not a lot of difference. When I look at all the trust companies in town, everybody wants to provide the best service to their clients. Now, we’ve got four trust companies in town associated with a bank and a new independent. I can’t see much more movement, honestly.

Diane Homan is an executive vice president and southwest Missouri market executive for Central Trust Co. She can be reached at diane.homan@centraltrust.net.

Comments

No comments on this story |
Please log in or register to add your comment
Editors' Pick

Open for Business: JQH Tower Club

JQH Tower Club reopened; Tractor Supply Co. launched its first Bolivar store; and the Springfield branch of PrimeLending moved.

Most Read
SBJ Live logo
MOST-WATCHED VIDEOS
We're Our Own Biggest Stumbling Blocks

“It’s easy to get wrapped up in yourself, your own career and what you’re doing,” says Amanda Tummons with Husch Blackwell. “Things like law school don’t make that easy because you’re …

90 Ideas - Bob Noble “Client want big things. They want big things fast, and they want big things before others see it before they do,” says Bob Noble, Founder of Noble Communications. “That’s what category …
Mobile First World “For marketers in this day and age, it’s so important to think about how you are engaging with customers and potential consumers on that mobile device,” says Erika Murray, Global Brand Manager …
App-titude - Tracking Projects with Trello “I like to think of it as a big white board where you can put post-it notes and track your progress on the different stages of a process,” says David Brazeal. Trello allows you to make a list, …
Realities of Medical Malpractice Lawsuits “Medical negligence or medical malpractice cases essentially are a platform for families to bring a lawsuit against a healthcare provider,” says Debbie Dodge, Managing Shareholder at Hall Ansley. …