Grant Retires As Head Of Lake City Bank
July 28, 2016 at 4:25 p.m.
When he walked out of Lake City Bank's main doors yesterday, it was the last time as the leader of the institution he led for nearly 20 years.
Today was the first day of retirement for Doug Grant. He'll have to learn to adapt to a new lifestyle, but adapting is something Grant has had to do a lot of during his career.
"There was a time when someone in banking leadership was able to handle all aspects of the business," he said. "Today, everything is so specialized it requires so many people in different areas of expertise."
The reason for the increased complexity, as Grant sees it, is the deregulation of the banking industry.
"It used to be that banking was so regulated, making decisions was really very easy, with the government telling you what you could and couldn't do," he said. "Then, about the time I got to be a big shot, they deregulated and things got a lot tougher."
Despite that complexity, Grant said, he wouldn't have traded his years in the industry, or the 19 years in Warsaw, for any other job in the world.
"I feel very lucky with the quality people I've been able to work with," he said. "I guess I've just been at the right place at the right time."
The Elkhart native earned his bachelor's degree from the University of New Mexico, then served a stint in the Marine Corps. After his military service, he graduated from the Wharton School of Finance with a Master's of Business Administration.
Upon graduation, Grant joined the First National Bank of New York, which later became Citicorp, where he spent two years in Bombay, India, opening the first international office for FNBNY.
"They got into international banking very early, and I was fortunate to be able to gain that experience with them," he said.
When he returned to the United States and Indiana, he joined St. Joseph Valley Bank as executive vice president and director.
In October 1980, he came to Warsaw to succeed Bruce Wright as president of Lake City Bank.
"When I came here, it was a small local bank, with $100 million in assets," Grant said. "Today, the bank has more than $1 billion, with 44 offices in 15 counties."
Grant will be succeeded at the helm of LCB by Pierceton native Bruce Kubacki, but he will remain as chairman of the board. Kubacki came to Lake City last year from Northern Trust Co. in Chicago.
As chairman, Grant said, he will continue to provide the guidance to the company that has helped it weather the seachange the industry has undergone in the past two decades.
"Banking has changed substantially, but we've been able to fill the niche," he said. "As the larger banks have pulled out of the smaller towns, we've moved in to fill the void.
"It's been an expansion policy on our part - and it's been a strategy that has worked," he added.
Grant attributes much of the success to Lake City's emphasis on keeping up with the expanding use of technology the industry has experienced, and by maintaining the emphasis on the local communities they serve.
""We've spent over $5 million to upgrade our computer technology, so we have the same technological advantages any of the large banks have," he said. "It's been a two-pronged strategy - keeping the 'back room' - the technology - up to date and offering the service the customers want and need out front."
Grant said another way Lake City has kept its emphasis on the local communities has been to resist the urge to merge with larger regional banks, a trend that has left it as one of a very few Indiana-based banks.
"The downside of the consolidations we've seen is that the people in the smaller communities aren't as close to the decision makers for loan approvals and the like," he said. "Our response time is generally not just days faster but weeks faster than the larger banks.
"Where we've been strong is keeping loans in the local area. That's good for the vitality of the local economy," he added.
So what will retired life be like for Grant? Reading and working with his favorite conservation groups - and a list of domestic chores at home.
"I love to read and travel and working with the Wawasee Conservancy Foundation and the Indiana Nature Conservancy board," he said. "Having said all that, I'm sure my wife has a long list of things for me to do around the house." [[In-content Ad]]
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When he walked out of Lake City Bank's main doors yesterday, it was the last time as the leader of the institution he led for nearly 20 years.
Today was the first day of retirement for Doug Grant. He'll have to learn to adapt to a new lifestyle, but adapting is something Grant has had to do a lot of during his career.
"There was a time when someone in banking leadership was able to handle all aspects of the business," he said. "Today, everything is so specialized it requires so many people in different areas of expertise."
The reason for the increased complexity, as Grant sees it, is the deregulation of the banking industry.
"It used to be that banking was so regulated, making decisions was really very easy, with the government telling you what you could and couldn't do," he said. "Then, about the time I got to be a big shot, they deregulated and things got a lot tougher."
Despite that complexity, Grant said, he wouldn't have traded his years in the industry, or the 19 years in Warsaw, for any other job in the world.
"I feel very lucky with the quality people I've been able to work with," he said. "I guess I've just been at the right place at the right time."
The Elkhart native earned his bachelor's degree from the University of New Mexico, then served a stint in the Marine Corps. After his military service, he graduated from the Wharton School of Finance with a Master's of Business Administration.
Upon graduation, Grant joined the First National Bank of New York, which later became Citicorp, where he spent two years in Bombay, India, opening the first international office for FNBNY.
"They got into international banking very early, and I was fortunate to be able to gain that experience with them," he said.
When he returned to the United States and Indiana, he joined St. Joseph Valley Bank as executive vice president and director.
In October 1980, he came to Warsaw to succeed Bruce Wright as president of Lake City Bank.
"When I came here, it was a small local bank, with $100 million in assets," Grant said. "Today, the bank has more than $1 billion, with 44 offices in 15 counties."
Grant will be succeeded at the helm of LCB by Pierceton native Bruce Kubacki, but he will remain as chairman of the board. Kubacki came to Lake City last year from Northern Trust Co. in Chicago.
As chairman, Grant said, he will continue to provide the guidance to the company that has helped it weather the seachange the industry has undergone in the past two decades.
"Banking has changed substantially, but we've been able to fill the niche," he said. "As the larger banks have pulled out of the smaller towns, we've moved in to fill the void.
"It's been an expansion policy on our part - and it's been a strategy that has worked," he added.
Grant attributes much of the success to Lake City's emphasis on keeping up with the expanding use of technology the industry has experienced, and by maintaining the emphasis on the local communities they serve.
""We've spent over $5 million to upgrade our computer technology, so we have the same technological advantages any of the large banks have," he said. "It's been a two-pronged strategy - keeping the 'back room' - the technology - up to date and offering the service the customers want and need out front."
Grant said another way Lake City has kept its emphasis on the local communities has been to resist the urge to merge with larger regional banks, a trend that has left it as one of a very few Indiana-based banks.
"The downside of the consolidations we've seen is that the people in the smaller communities aren't as close to the decision makers for loan approvals and the like," he said. "Our response time is generally not just days faster but weeks faster than the larger banks.
"Where we've been strong is keeping loans in the local area. That's good for the vitality of the local economy," he added.
So what will retired life be like for Grant? Reading and working with his favorite conservation groups - and a list of domestic chores at home.
"I love to read and travel and working with the Wawasee Conservancy Foundation and the Indiana Nature Conservancy board," he said. "Having said all that, I'm sure my wife has a long list of things for me to do around the house." [[In-content Ad]]