By Leslie Collins
Northeast News
November 2, 2011

Bill Dana joked he hasn’t gotten a promotion in 20 years.

But he doesn’t mind.

Since 1991, he’s served as bank president and chief executive officer of Central Bank of Kansas City, 2301 Independence Blvd.

Just like Dana, Central Bank has also proven its longevity by serving Kansas City for 60 years and counting.

“I think it’s a significant accomplishment and something that we’re very proud of,” he said. “There’s very few businesses that last 60 years and very few businesses that stay in the community they started in.”

Dana grew up in the Kansas City metro and graduated from St. Benedict’s College, Atchison, Kan., with a Bachelor of Science in business administration. Later, he earned a master’s degree in banking from Louisiana State University.

One of his first “real” jobs was working as a janitor for a book publishing company during college. Then, he worked as a part-time teller for a bank in Overland Park, Kan.

“I ended up making less as a part-time teller than a janitor,” he said.

Following college graduation, he switched to full-time and worked his way up to the No. 2 spot in the bank. For 20 years, he worked in Overland Park and then continued his career at Central Bank.

Asked what attracted him to Central Bank, he said, “It was a family-owned bank. It was a good size for me and my experience level.”

With a family-owned bank, there’s a consistency in direction, he said.

For Dana, working in the banking industry allowed him to capitalize on his service oriented nature.

“I think I’ve always been sort of a service minded person, somebody that helps folks get things done,” he said. “Banking was one of those industries that allows you to help people realize their dreams.

“One of the jobs I always quote here at Central Bank is, ‘We’re in the business of helping people build wealth, having their balance sheet look good at the end of their period, whether that’s a day, two weeks or a lifetime…'”

With 40 years in the industry, a lot has changed.

He’s watched banks begin to utilize computers, issue more debit and credit cards as checks became less popular and offer electronic banking for the first time.

One thing that hasn’t changed is lending, he said.

“You still have to see if a borrower can qualify, lend the money and then get it back,” he said. “You still do the same type of underwriting.”

One product Central Bank began offering last week is prepaid express cards by MasterCard.

“Many of our customers and consumers in Northeast have no bank account. They’re either unbanked or underbanked,” he said. “The prepaid card we think is going to be one of those tools that helps us provide value and a deliverable service that they didn’t have before.”

One reason for consumers lacking a bank account is a negative credit past, he said.

Consumer’s can be put on the bank industry’s “bad list” for bouncing checks and not making a deposit to balance out an account, he said. As a result, banks will refuse to open an account for those customers, and in turn, the customers turn to the often predatory system of lenders, check cashers and title loan companies, Dana said.

Poor money management skills is a difficult cycle to break, but prepaid cards provide an avenue to regain control of finances, he said.

Asked what he likes about Central Bank, Dana said, “I think it’s our delivery of financial products to an underserved community. We’ve got a niche and there’s very few bankers that are in this niche. So, it gives us some uniqueness.”

Several days ago, a customer told Dana, “You’re going to heaven, Bill, for what you do.”

“That’s rewarding when you’re able to help someone that nobody else wants to help or you’re fighting for the little guy to help deliver value,” Dana said.

Another advantage of Central Bank is that since 1998, it’s carried the distinction of a Community Development Financial Institution (CDFI). Only 90 banks in the U.S. hold that title, he said. CDFIs must offer a majority of its services to low income and underserved communities. Through its designation as a CDFI, Central Bank has access to a number of programs, including the New Markets Tax Credit program, which encourages businesses to locate to distressed communities.

“We’ve been a three-time award winner under the New Markets Tax Credit program,” he said.

Being CDFI certified is only one reflection of how Central Bank aims to serve its customers. Twelve employees, ranging from tellers to customer service representatives to assistant branch managers speak Spanish fluently.

“It’s not unusual for our teller line to have six of the eight tellers speaking Spanish,” Dana said.

When customers walk in the door, Dana said he hopes they feel “warmth and I hope they feel like they’re wanted or noticed and part of who make us successful.”