Ken Theroff has spent more than two decades in banking, eventually climbing to the role of president of Jefferson Bank.
Though he didn't originally plan to be in the field, Theroff has found a passion in banking and serving the central Missouri community. Recently, Theroff sat down to share his views on his role at Jefferson Bank, his career path and Jefferson City.
Name: Ken Theroff
Organization: Jefferson Bank of Missouri
Age: 50
Hometown: Jefferson City
Last book I read: "The Return of George Washington" by Edward Lawson
Favorite movie: "Saving Private Ryan"
If I wasn't doing this, I'd be ...: Coaching basketball
Q. How would you describe your job?
A. "I am the cheerleader, coach and player all at the same time."
Q. What was the career path that brought you to this position?
A. "Upon graduation from college, I took a position in banking in order to save some money, buy an engagement ring for Susie, and figure out what I wanted to do when I grew up. Some 28 years later, I'm still working in the banking business."
Q. Who influenced you to enter this profession? (Or who was your biggest influence?)
A."My parents encouraged me in every way possible, but didn't try to influence my career choices. I am so grateful to them for challenging me to make my own decisions and then to not look back. I'm also thankful that they tolerated my living at home for a year after college so I could save some money! I think they were happier than I was when I rented my first apartment!
"I would be remiss if I didn't mention a few bankers who influenced me to stay in the business. First, I still can't believe Richard Popp hired an English major who had no business or accounting background. He still takes a lot of grief for that hire! And Joe Loethen "encouraged' me to take some accounting, economics and business classes to enhance my background. My banking mentor, Mark Johnson, taught me so many things about lending and other topics, and I'll never be able thank him enough. Later in my career, I had the benefit of working alongside notable bankers like Harold Westhues and Dick Wilson. There are too many others to list, but suffice it to say, I've been fortunate to work with a lot of great people over the years."
Q.What's the biggest professional achievement you've realized?
A."I consider it an honor to work for a bank with such a rich tradition of improving and enriching our community."
Q. What's the most common mistake people make when entering your profession?
A."I would say that people get a little impatient. Career advancement in banking is usually a marathon, not a sprint."
Q. What's the biggest lesson you have learned?
A."I think we all enter the work world thinking we know a lot more than we do. Hopefully, I now have better self-awareness to know what I don't know."
Q. What's the biggest challenge facing you in the next year?
A."Small banks continue to face over-regulation and increasing non-bank competition, but I think we're up to the challenge."
Q. Why did you decide to locate in Jefferson City?
A."I had no choice as I was born in Jefferson City. However, Susie and I made a conscious decision to make our home and raise our family here. We can't think of any place we would rather be."
Q. What can Jefferson City do to improve itself?
A. "We need to refrain from being so critical of ourselves. Let's focus more on our assets and not so much on our liabilities. We'll all be inspired if we look around and take inventory of the exciting things that are in the works."
Q. Where do you see your profession in five years? Where do you see yourself in five years?
A."I suspect community banks will always be important in our country. Hopefully, in five years, I will still have the privilege of being a banker."
Q. What are the best/worst parts of your job?
A."Without a doubt, the best part of my job is witnessing the positive impact our bank has on the central Missouri area and on our bank family. Increasing regulation is the worst part, as community banks have been painted with the same brush as the mega banks who contributed to the last financial crisis. Hopefully, common sense will prevail and the regulatory environment will improve."
Q. What is something about yourself that nobody knows?
A."Not many people know that Susie is the "handy man' of our family. I break it, and she fixes it!"