As we celebrate a century of history, we move into the future: North Shore Bank is proud to announce to employees that Jay McKenna has been named president and chief executive officer of the company.

The news will be announced to the public on Monday. Former CEO Jim McKenna will continue to serve as executive chairman.

Jay talked to Shorelines about his new role and what lies ahead for North Shore Bank.

Obviously, your promotion to CEO is coming at a historic time for North Shore Bank. When you look back at 100 years of the company’s history, what do you think the big takeaway is? Why is North Shore still here and thriving, and what do you have to do as a leader to make sure it stays that way?
After graduating from Marquette University, Jay worked for eight years in the audit department of an international accounting firm and then joined North Shore Bank in 1999 as vice president of finance. He was named executive vice president and chief operating officer in 2010, and later named president and COO. He currently serves on the boards of the Zoological Society of Milwaukee (as immediate past chairman) and Cristo Rey Jesuit High School of Milwaukee, and has previously served on the board of the Wisconsin Bankers Association and Marquette University High School. He is also a member of the American Institute of Certified Public Accountants and Wisconsin Institute of CPAs, and of the Federal Reserve Bank of Chicago’s Wisconsin Economic Roundtable. In 2021, the U.S. Treasury appointed Jay to serve on its Office of the Comptroller of the Currency Mutual Savings Association Advisory Committee.Personally, it’s humbling to realize I have been here for almost a quarter of those 100 years! I started here shortly after my oldest was born, and now he’s out of school and into the workplace on his own, so it is also a bit frightening to look back and realize how fast time flies.

I obviously was not involved with NSB for about 75 percent of its existence, but I am a history lover and I know what kind of changes the world has seen over the last 100 years. The company has survived and thrived and grown through many turbulent and life-changing times, and that is attributable to a management philosophy and culture of always looking forward but never forgetting the lessons of the past. We remember that our paychecks are brought to us by our customers, that we exist to serve them. And we know we have an obligation to give back to our communities, in both time and treasure. But most importantly, our survival and success are due to the many, many North Shore Bank employees who are here today and who have come before us, who share that ethos of service and treat our customers and each other with the utmost respect.

What kind of advantages does a century-old financial institution have in the market?
Certainly there are not a lot of businesses that can claim to be 100 years old, especially in our industry, which is ripe with consolidation. So I think that gives a lot of comfort to our individual and business customers that they can trust us, that we are well-run and successful, and that we will continue to be there for them in a very fast-changing and turbulent world. That being said, given the ultra-competitive nature of our business, we can’t take anything for granted. We must continue to provide outstanding service and products if we are to continue to succeed.

One advantage I believe we have always had and will continue to have is our mutual charter. We do not have shareholders, so we do not have to focus on a share price or meeting short-term investor expectations. We can take a longer-term, strategic perspective in balance against shorter-term objectives. We have customers, employees, and communities. Those will continue to be the sole focus of North Shore Bank.

I also believe we continue to be remarkably well-positioned in the market as a midmarket community bank. We have the size, scale, and resources to serve our customers in ways our smaller competitors cannot. On the other hand, compared to the giant multinational out-of-state-headquartered banks that we compete against, we can be much nimbler, quicker, and more local in our decision making and customer service. Thus, we can continue to “out-big” the little guys and “out-little” the big guys.

Lastly, you’ve been president of North Shore for a while and part of the executive leadership before that. What changes for you with this promotion, as far as your day-to-day?
Given my new and recent roles, I don’t envision much day-to-day change for me or North Shore Bank. The executive team around me that we have here is second to none in our industry, and I truly look forward to coming to work with them every day as we continue to meet the challenges of the day and move North Shore Bank forward.