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Greg Raymo adds CEO title at First State Bank Southwest

Greg Raymo, who joined First State Bank Southwest in January 1997, is now president and CEO of the bank. (RYAN McGAUGHEY/Daily Globe)

WORTHINGTON — With the recent retirement of longtime First State Bank Southwest leader Alvin Kooiman, Greg Raymo has now added CEO to his administrative duties at the financial institution.

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Raymo, who had been already serving as president, was appointed the bank’s new CEO and chairman of the board last month. He presides over a bank that has offices in Rushmore (where First State Bank Southwest was originally founded), Worthington (on Oxford Street, as well as in Walmart), Leota, Edgerton and Pipestone.

“As CEO, I’m really responsible for all operations of the organization,” Raymo explained last week. “One of the most important parts of that is making sure our banks are involved in the community.”

That involvement has helped First State Bank Southwest continue to grow over the years. In January 2010, the bank had a total of $181 million in assets, Raymo said. As of Dec. 31, 2013, the bank had $228,244,343 in assets.

“We’ve had wonderful growth in the last four years, and that’s just come from our existing market of coverage,” he said. “Another part of being CEO is to seek out further opportunities for expansion, including anything within the existing market but other opportunities as well.

“As this community grows, we’re doing everything we possibly can to invest in it,” he added. “Doing projects like the YMCA and being basically involved in the community, that attracts more customers to you. The contributions we’ve made to the community have come back manyfold in customer relations.”

The banks themselves aren’t the only ones involved in improving regional communities ­— so are the employees themselves.

“There are a lot of people doing things in the community that garnish these relationships back to the bank,” Raymo said.

Raymo grew up in Madison and originally came to Worthington in January 1997 with his wife, Barb, and three young children. He joined First State Bank Southwest at that time as a credit administrator.

“It had always been Alvin’s plan to have me his successor after his retirement,” Raymo said. “I’ve been really blessed to work side by side with Alvin. He really mentored me in a lot of ways. We’ve been in a great position, but it’s really all about the people you surround yourself with.”

Raymo’s involvement in the community has been varied and currently includes the Worthington Area Chamber of Commerce’s Government Affairs Committee and the Sanford Worthington Medical Center advisory board, on which he serves as chair. He has been involved with Blandin Foundation as well as the Worthington Regional Economic Development Corp., been a board member of the Southwest Initiative Foundation and is currently part of the Minnesota West Booster Club.

Raymo’s wife, Barb, manages the First State Insurance Agency. Their oldest daughter, Tiffany Neugebauer, teaches fifth grade at Worthington Middle School; she and husband Dustin have two children, Dyson and Kinsley. Their son Nicholas and his wife, Tasha, who teaches second grade at Prairie Elementary, also have two children, Brayden and Kaylee. The Raymos’ youngest daughter, Ashley, is married to Jeff Johnson, and they have two daughters, Bella and Giahana.

“Alvin Kooiman gave me a great opportunity and was a great mentor, and my success is based on the great people that work here at the bank,” Raymo stated. “I’ve also received plenty of support from my family and that has been important, too.”

Daily Globe Managing Editor Ryan McGaughey may be reached at 376-7320.

Ryan McGaughey

I first joined the Daily Globe in April 2001 as sports editor. I later became the news editor in November 2002, and the managing editor in August 2006. I'm originally from New York State, and am married with two children.

(507) 376-7320