Mark Altadonna has been a familiar face in the Monroe County banking scene for the past 21 years.
However, he will retire at the end of the year from his president position at State Bank of Waterloo and pass the torch to Kevin Day, who was named executive vice president of the bank on Sept. 30.
Day has 20 years of experience as a community banker and is originally from Forrest, located near Champaign in central Illinois.
His most recent position was at St. John’s Bank and Trust in St. Louis, where he was senior vice president and chief lending officer.
Altadonna and Day have known each other for 15 years, having worked together on a board that serves community banks in Illinois.
Altadonna said so much has changed in the banking scene over the past two decades in terms of how both the bank and customers handle their money
“It’s such an exciting part of the business for the customers because they can access their information electronically,” he said. “In terms of customer service, the industry has definitely progressed considerably.”
He has seen State Bank of Waterloo through the good and bad – the toughest time being when the financial crisis hit in 2008.
“Community banks had nothing to do with that, but unfortunately we were caught in the wave of what the big guys were doing,” Altadonna said.
Altadonna has high hopes for Day as he comes into the president position at the beginning of 2014.
“He brings youth and energy, along with creative thoughts on how to take the bank forward into this century,” Altadonna said. “He has the contacts to bring commercial business from outside the immediate area, and that’s going to help the bank considerably in terms of enhancing its earnings and being able to do more for its customers.”
Day praised Altadonna for his work with the bank and said he is looking forward to stepping into the position.
“This bank is a great community institution,” Day said. “The trick for community banks is being able to keep up with the larger banks and provide the access channels customers want but to keep the community feel.”
Day said his goal is to bring more commercial business to the bank but also maintain the same level of “hometown, locally-owned, community bank feel.”
“I want to extend our reach just a little further,” Day said.
Altadonna said the bank does not have any expansion plans right now, but he would like see the bank increase its footprint in the current market.
“Being able to help people get their first home, the home of their dreams or help them solve their problems over the years has really been what’s guided me and kept me in the business,” Altadonna said. “We’re able to do almost anything the larger banks can do.”
For more information on State Bank of Waterloo, call 939-7194 or visit online at www.statebankofwaterloo.com.