Over 35 years in banking, Jack Alberg has seen a lot. From working at banks that were acquired to those doing the acquiring, Jack has built extensive experience that now serves him in his role as a correspondent banking business development officer with Bell Bank in White Bear Lake, Minn.

Jack’s career began in 1990, when he joined consumer finance company NorWest Financial out of college. There, he learned all aspects of lending and gained valuable experience managing a team.

“In that industry, you got thrown in and it was either sink or swim,” Jack says. “I learned in four years there what it might have taken me to learn in 10 years in a traditional bank environment.”

After several years with NorWest in Kansas and Missouri, Jack returned home to Minnesota in 1994 to join Lake Area Bank, his first foray into traditional banking. At just 25, he was tasked with opening a new bank office and managing a team of seven people.

A few years later, Jack joined a community bank in the Twin Cities called Mid-America Bank, which was eventually purchased by NorWest. Following that acquisition, he moved to Central Bank in 2000 to focus on commercial lending.

During the financial crisis of 2009, Central Bank acquired 9 area banks closed by the FDIC. Jack oversaw two of those integrations – one in Forest Lake, Minn., and another in western Wisconsin – and ultimately managed seven new offices and a staff of 75.

“It was stressful at times, but I wouldn’t give up that experience for anything,” he says.

Moving to Bell

In 2016, after Central Bank was acquired by Midwest One Bank, Jack decided to join Bell Bank. Having worked with Bell’s correspondent team for several years, he knew the bank was expanding in the Twin Cities, and joined as president of the northeast metro. He then moved to Bell’s correspondent banking group in 2021.

“Joining the correspondent team was always something I wanted to do at some point in my career,” he says. “The networking and building of relationships – that’s what drives me, and that’s especially true in correspondent banking.”

That same relationship focus is what Jack values most about Bell.

“We’re able to respond quickly to clients,” he explains. “Some banks can take weeks to make a decision, but Bell empowers lenders to build strong relationships and move fast for our clients.”

What’s Changed Over 35 Years

Over three decades, Jack has seen tremendous change in the industry, from advancements in technology to the ongoing consolidation of banks.

“Across the country, essentially half of all banks went away – and that pace is continuing,” he says. “The banking environment has also become much more competitive than it was in the past, in addition to the many technological changes in the industry.”

One thing that hasn’t changed for Jack, though, is the importance of relationships in banking. He’s had clients that he’s worked with for more than 30 years, and in one case, has watched a client grow their company from having less than $1 million in revenue to over $50 million.

“It’s satisfying to watch a client or company grow over the years of working with them, and being a part of that ride,” Jack says. “I’m friends with many long-time clients – it’s not just a client relationship, it’s a true friendship. And at the end of the day, it’s the relationships that matter.”