Opening More Doors for Women in Community Banking

When Lacey Klose walked into her first session of First Western Bank & Trust’s Women in Leadership program, she wasn’t sure what to expect. The BSA/AML officer had heard good things about the program, which brings women from across the bank together for professional development. She came into the experience ready to learn, interact with other First Western women and take away ideas she could use in her own career.

The experience gave Klose a stronger connection to the Minot, North Dakota, community bank and a new group of colleagues she expects to rely on for years to come. 

“Meeting and connecting with so many incredible First Western women, each with unique roles and responsibilities from different locations, made me feel even more a part of our organization,” Klose says. “These are connections I never would have made had I not attended, and I truly believe we’ll continue to be a resource and support system for one another for years to come.”

Kailey Boraas, VP and trust officer for the $2.2 billion-asset community bank, says this response is echoed by other women who have completed the program. It all started in 2024, when Boraas was working through annual performance reviews with her team. She’d participated in several outside women’s leadership programs and seen the benefits of bringing women together around a common purpose.

Boraas and vice president and marketing officer Karly Schefter took the idea to First Western Bank & Trust’s CEO, Brenda Foster, who immediately got behind it. Today, women across the bank can apply after three years of employment. Boraas and Schefter review the applications without names, locations, titles or tenure attached, keeping the program open to women at every level. 

Selected participants join a weekly book discussion before attending the two-day, in-person program, with sessions on self-awareness, confidence building and workplace challenges (such as imposter syndrome). The program also includes community service. This year, participants made no-sew fleece blankets for United Way. 

“Ultimately, we want this to be as impactful for participants as it is for us,” Boraas says. “We learn something from every program we host.”

Tracking progress: Slow but sure

According to Deloitte, the number of women in financial services who reach the highest levels of leadership—the C-suite and the board—is rising. Over the past decade, more women have been added to financial services industry C-suites than men, and women now account for 18% of C-suite positions globally. But there’s still more work to be done in this area. In fact, Deloitte says that “without a more concerted effort, global growth in the share of women financial leaders may not even reach 25% by 2031.”

At First Western, women make up about 60% of the workforce, and both its CEO and CFO are women. Boraas says more women are taking on larger roles across community banking, both in day-to-day management and long-term planning. But as Deloitte’s report suggests, that growth won’t continue on its own. 

“Keeping that going means making sure women have access to opportunities, sponsorship and development throughout their careers,” Boraas says.

Spreading out into the community

At $768 million-asset United Southern Bank, support for women’s career aspirations extends beyond the bank itself. 

The Eustis, Florida, community bank supports a monthly women’s group sponsored by the Lake Eustis Area Chamber of Commerce that connects employees with women across the community, with these connections growing into relationships that foster mentorship, shared learning and professional development. The bank also sends employees to the Florida Bankers Association’s Women’s Conference and other industry programs. 

The women’s group meets on the second Monday of every month at different local businesses. Meetings might include a speaker, an activity or a visit to an organization run by a woman. The city’s mayor, Emily Lee, recently spoke to the group, and members have toured a food pantry headed by a woman CEO.

United Southern’s programs and support have opened up new career and community opportunities for employees like VP and branch manager Roxy Cruz. The community bank sent her to the three-year Florida School of Banking program and supports her involvement with the Lake Eustis Area Chamber of Commerce, 1 Million Cups, Lake Professionals and the Hispanics of Lake County Association.

Cruz says the women who attend United Southern’s monthly meetings support one another while building relationships that organically create new business for the bank. “I’m really thankful to be part of this empowerment movement,” she says.

United Southern CFO Connie Nelson has seen an increase in the number of women at the senior management level at the bank, saying that having more women at that level supports the promotion of others because they can identify strengths that may be overlooked from a male’s perspective.

As women continue moving into senior banking roles, Nelson says they need to support one another and resist the urge to volunteer for every assignment that comes along. 

“If there’s a project to be done, a woman is often the first one to raise her hand,” she says. “It’s about making sure you’re not spreading yourself too thin, that you’re choosing things that play to your strengths and that you have the time to give them your best.”

Don’t recreate the wheel

To community banks that want to create more leadership and advancement opportunities for women, Nelson suggests looking at what peers are doing and borrowing the ideas that fit. She points to a monthly community meeting at First National Bank Coastal Community in Boca Raton, Florida, that helped inspire a similar effort at United Southern. 

“Don’t try to recreate the wheel,” Nelson says. “Talk to your peers, find out what’s working and share ideas.”

Boraas also recommends finding a handful of people to carry the idea from planning through launch. They can choose the topics, work through the budget, decide where the program will be held and identify the employees who could benefit most. 

“Start by mapping out what the program should look like for your organization,” she says. “Look at your current staff, the challenges they’re facing and where additional development could have the greatest impact.”