Charlie Funk - One Exceptional Journey

Charlie Funk One Exceptional Journey

2000-2023

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One Exceptional Journey

C harles N. Funk led MidWest One Bank with distinction for over two decades as its President and Chief Executive Officer until his retirement in 2022. It was 2000 when Dick Summerwill chose his successor and hired Charlie Funk to become the new President of Iowa State Bank & Trust. Charlie and Connie moved their family from Des Moines and quickly became involved in the Iowa City community‒ and what a difference they made. Iowa State Bank was a $400 million dollar bank that had served the Iowa City Community since 1934. Charlie would be the first president that was not a member of the Summerwill family. Following in the footsteps of his predecessors, the bank’s mission statement, “Take care of our customers and those who should be”, was emphasized as Charlie grew the bank with great success. Three historic operating principles were also retained:

• Hire excellent employees • Take care of your customers, and • Conduct yourself with utmost integrity

To these, with leadership from Charlie, two additional operating principles were formalized and practiced:

• Work as one team, and • Learn constantly so we can continuously improve

Charles N. “Charlie” Funk

and leadership provided by Charlie quickly proved that it was a critical step to provide a stable base and the ability of the bank to grow in the future. That next step of growth came in 2014 when it was announced that MidWest One Financial Group (MOFG) would acquire Central Bancshares, based in Minneapolis. That bank’s footprint included branches in Minnesota, Wisconsin, and Florida. With acquisitions come new challenges and opportunities, and it takes a steady hand and fortitude to see the process through to completion. Charlie was up to the task. He and his staff grew MOFG to $3 billion in assets and established it as a regional community bank.

Charlie had the vision to use the excellent foundation of a great community bank and its staff to reach more communities and customers. With growth came advancement opportunities for employees, expanded banking products to serve customers better, and support and leadership for additional communities. In 2008, Charlie led the first major expansion of the bank when the Summerwill and Howard families merged their banks together as one. Iowa State Bank was the surviving corporation and changed its name to MidWest One Bank using the acquired bank’s name. This was no easy task given the economic downturn to come. Yet the tenacity

In 2017, Charlie was able to leverage the positive work culture he had nurtured at the bank to hire an excellent team of business bankers in Denver looking for a new home. It was another home run for the company. The new bankers were delighted with the team they joined and produced results immediately. Charlie positioned the bank for another acquisition expanding its footprint in Iowa and Wisconsin when in 2019 it acquired ATBancorp. Now with $4.7 billion dollars in assets, the MidWest One franchise added new markets in Dubuque and Des Moines, Iowa, and Grant County in Southwest Wisconsin. The Trust department tripled in size and added more services to the MidWest One portfolio. One more expansion was completed in 2022 with the acquisition of Iowa First Bancshares with locations in Muscatine and Fairfield. This was a strategic purchase that will again produce excellent results built on MidWest One ’s community banking strengths. Charlie has served the banking profession in Iowa and nationally in positions of leadership with great distinction. He has been called upon to testify in congressional hearings representing the banking industry. He taught banking skills to many at the Stonier and Colorado Graduate School(s) of Banking, and the Iowa and Nebraska School(s) of Banking. He was a favorite instructor for many years. There is not a bank president in Iowa who would not recognize Charlie and appreciate his accomplishments. In 2021, Charlie was honored with the highest award bestowed by the Iowa Bankers Association, the James A. Leach Leadership Award. He has earned the respect and admiration of many for his service, leadership, mentoring, counsel, and vision. While growing MidWest One Bank from a $400 million bank to over $6 billion bank (the largest community bank headquartered in Iowa), Charlie always found time to make an impact for the betterment of all. When Charlie moved to Iowa City, he immediately stepped up to provide his leadership skills to a variety of community activities

and continues to do so today. It is hard to estimate the true value of his tremendous volunteer efforts which have made our community a better place to live and work. Charlie has served the Iowa City Area Chamber of Commerce as a director and then as president. He has provided guidance and leadership in the work of the Iowa City Area Development (ICAD) group, serving as a director and then as president. His entrepreneurial spirit continues to be pressed into action as he is often sought for advice and counsel by the leadership of ICAD as they look to build a better future. Charlie served a key role in promoting and passing the “Yes for Kids” Iowa City School District bond. He has worked tirelessly for the kids of our community through his work on the Iowa City School District Foundation and was always the “go to” member of that board. He has served on United Way campaigns and has encouraged others to become involved in the United Way and other community-minded fundraising campaigns too numerous to mention. Not only does he support these organizations with his time, but he also supports them with financial help and sets an example for others. This community has benefited from Charlie’s high impact touches, sharing his leadership with so very many groups. He has earned the respect and admiration of many for his resilience and thoughtful vision for how we can work together to make this the best community it can be. He is a very effective leader.

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Cedar Falls Branch

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“Flywheel” presentation!

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White Bear Lake Branch

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April 2023,

Dear Charlie, I cannot believe the time has actually come for you to retire, but here we are and oh, what a career you have had! I feel so grateful to have been a part of your last 23 years. Since the day you arrived as our new CEO, you have helped shape the careers of countless employees and Officers, me included. Your leadership has influenced our Company’s success and you have played an important part in helping our Iowa City Area community thrive. Your unwavering guidance and counsel to our Board has been instrumental to the growth of MidWest One . And it goes without saying that you are the epitome of a cultural leader and champion. I’ve learned so much from you about how to create, build, and maintain our Company’s values and legacy. I found some photos from the past that I thought would be fun for you to have:

The old ISB Board Room (before your time but you need to have a picture of WRS, JSK and Gene!)

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Sue Evans and me at the Most Powerful Women in Baking reception in NYC (You were instrumental in Sue receiving this award!)

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Congratulation Charlie on your retirement.

You have always been so kind to me, even before I had become an employee. Your kindness to everyone is something I will always take with me and what I strive to do myself. When people think of MidWestOne Bank you are the 1 st person they think of. It really has been a pleasure to get to work with you and know you. Thank you for all you have done for the community and the MidWestOne Bank family

Amy Dorsam

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United Way Campagin where we had multiple people running or walking (and one bike) from one Iowa City Office to another. It was called the Buck Walk and I think Charlie ran a good portion of it. We made a big hoopla of it and my Rochester IC office was the starting line. We all appreciated Charlie’s investment in time and talent with local non-profit fundraisers and Iowa City School support.

-Cindi Schrock

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Mr. Funk. (Charlie) Best Wishes upon your retirement. It was a pleasure working with you. Your leadership was exceptional, and you have pushed us as employees to live the same culture and it has been successful. I am truly sorry about your accident and the results that came from it. I hope and pray that you continue to improve and you are able to enjoy your retirement. From your favorite large-bearded friend up in Golden Valley, MN. Jeff Shafland

Hi Charlie. Congratulations on your retirement. I truly wish you could have retired under better circumstances. I know you are working hard at your recovery and will make the best of the situation. I want to thank you for being my mentor and friend over the past several years. I have admired how you’ve managed MWO through all of the acquisition activity and how you’ve always stuck to your principles and the principles of the bank. You have been a fabulous leader and I’ve learned a great deal from you. You’ve always had kind words of encouragement for me and many others in the bank. You are a good person and a great friend. Best of luck with your rehab and best of luck to you and Connie in your retirement.

Best Wishes, Jeff Wise

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Saint Michael Branch

“Thank you Charlie!!! I pray you are healing well. Enjoy Retirement! All the best to you! -Gloria Oshima

Have a wonderful retirement! -Cole Hendry

Charlie, I wish you the best in your retirement. Thank you for all you have done for MWO Bank. -Todd Peterson Hello Charlie, I hope you heal well and enjoy your retirement! You’re an icon and already deeply missed! -John Jost

Enjoy retirement, Charlie!! -Kelsey Dodge-Carlson

Enjoy every moment of your retirement! -Kelly Wood

Charlie, Congrats on the retirement and all that you accomplished throughout your career! -Josh DeBoer

Enjoy your retirement!! -Jake Marsolek

Hope you enjoy retirement. Congrats! -Matt Schwinghammer

Hi Charlie, Happy Retirement! I wish you the best to come! Enjoy and take good care. -Diane Duff”

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Charlie is Retiring!

Credits to YOU: • You showed your passion to help our employees, communities, and customers (and those who should be) by modeling strong leadership and support • You were involved on many local campaigns, boards, and celebrations • You called the shots as you saw them, honestly and openly. Your institutional/banking knowledge will be missed • You encouraged us all to bring our A-Game everyday • You cheered hard for the Little Hawks, Hawkeyes, and even a few • competitors • You educated us all by mentioning (more than a few times) that credit unions don’t pay taxes • You occasionally shared your sweet dill pickles with your family Enjoy the next chapter away from the Bank with your amazing spouse Connie and your growing extended family! Thanks for you and your many hours and years of service to Iowa State Bank & Trust/MidWestOne Bank. Keep in touch, we hope to see you at our Rochester Avenue Office from time to time.

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Parkersburg Branch

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I worked with Charlie for nearly 22 years and tried to set a few things aside now and again. Of course we have annual reports, I have per- sonal notes from him that reflect his lifelong habit of handwritten notes, he has always done impressions of people (HILARIOUS) and there are a million other stories I could tell about him. -Thais

Included - a flyer our Rotary Club put together - which is hilarious and who knew how good he’d look as an 80’s rocker!?! The other is something we did for his 50th birthday - we had water bottles made for his NIFTY FIFTY.

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Congratulations, Charlie, on a successful career!