In his role as the president and CEO of Citywide Banks, Michael Wamsganz said a big part of his leadership role is to look down the hall, but also around the corner. “As we enter 2024, the business climate will continue to be turbulent, and a major part of this year will be focused on communication and providing insight to business owners,” he said.
Citywide Banks is a local bank with a mission to enrich lives, one customer, employee and community at a time by delivering financial expertise and excellent experiences.
Since Wamsganz was named a Titan 100, he said he learned critical lessons during the financial crisis of 2023. “Being clear, transparent and timely created a sense of calm with both the leadership team and employee base,” he said. “I learned and reinforced with myself that it is so important to keep the team, key stakeholders and customers well-informed.”
In addition, during a time of crisis, Wamsganz said his ability to rapidly change with the economic trends was paramount. “We had changing loan and deposit rates almost daily from March 9 to mid-summer, and I had to demonstrate the leadership ability to change and make quick decisions that would impact the profitability of our organization,” he said.
Despite the economic challenges, Wamsganz said 2023 was also about success. “We had a strategic plan in place for 2023, and our ability to organically grow quality assets and net new relationships by double digits during a turbulent economic environment demonstrates effective planning and execution,” said Wamsganz. “Our leadership quickly engaged our employees, key stakeholders within the organization, as well as our top customers, to reinforce the strength and stability of Citywide Banks.”
Wamsganz said this year fostered an environment for the next generation of titans. His team stepped up with coaching and established mentorships with younger team members. “Our intent was for the team to learn from the changing market environment,” said Wamsganz. “We established training and built tools to help younger bankers provide market and rate insight to the customer base and it has provided experience that will help them in the future.”
As a leader, Wamsganz said that he relies on his ability to balance multiple powers. “What makes me a stronger banker is my ability to be agile, forward-thinking and be able to walk in the shoes of our customers,” he said. “As a business owner, as well as a banker, I understand what a business deals with on a day-to-day basis.”
