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Chanhassen, MN, United States, 2012/08/02 - Adam Dittrich, President/CEO of Americana Community Bank (ACB) has been named one of eight Rising Stars in Banking for 2012 by banking publication, North-Western Financial Review - AmericanaFinancial.com.
Dittrich, a native of New Ulm, MN and currently a Victoria, MN resident, oversees all functions for the four-branch community bank and serves on their Board of Directors.
Highlighting the problems facing bankers due to our current economic times, Dittrich was lauded for being “…the leader his bank needed as it defied the odds against its survival…” in an article about the award. David Saber, senior manager at Wipfli, an accounting and consulting firm, was quoted as asserting,“For someone to step up to the plate like Adam has done is tremendous. CEOs with 40-plus years of experience are pulling their hair out over challenges like this. But Adam has seen his way through.”
Americana Community Bank, chartered in Sleepy Eye, MN, serves both commercial and consumer customers in southern Minnesota and the western suburbs of Minneapolis. The bank’s commercial portfolio was heavily weighted with real estate and housing development loans in 2008, when the economy faltered. Dittrich was named bank president in 2008. “We had to transition from a time when things were good – with no delinquencies and a ramped up sales team – to a time of protecting the base and looking at the risk,” said Dittrich.
Dittrich credits his father, Bob Dittrich, New Ulm native, entrepreneur and bank owner, for inspiring him to forge on through the difficulties. “Dad was taught in the school of hard knocks; it’s not the cheapest education, but it is a good education. Not many bank lenders have had the experience of meeting payroll and making hard business decisions like my dad has,” continued Dittrich. He also had praise for the bank employees,“There are many people in the bank who have more knowledge than I have. I have been able to contribute by bringing about collaboration.”
The article states that the bank is now headed in the right direction. Dittrich told the magazine,“Everything is improving. It has been a ton of hard work, just to see a turn. We’re starting to spend some time in “normal” again.”
The North-Western Financial Review is a twice-monthly print magazine, covering the issues, products, meetings, legislation, regulations, trends and technology that affect the community banking industry in the Upper Midwest. For deeper coverage, they also offer on-line banking information through their blog. The Rising Star designation honors mid-career bankers who are making a difference in their bank and in their community.