The bank counts, but so does the banker. In fact, in many cases, the banker could be more important than the bank. Here are things to consider when thinking about the banker:

1. How likely is he to stay with the bank? A common complaint about banks is that people turnover and move into different spots or they leave the bank. That means somebody else is coming onboard and you have to spend more time reacquainting a new banker with your company and developing a new relationship.

2. How likely will that person be to stay in his position at the bank? He could be staying at the bank, but he might move into a different role. That can lead to the same result. Now, you have to get reacquainted with a new bank officer. In this case, it may not be quite as bad because the prior officer is still around to help with the transition, but it’s still something to consider. In particular, what if it’s somebody who has just been in his career for a short time and this just could be one step along the path until he or she settles into a longer term position. It’s also something to watch for more if you are with a larger bank and there’s more of a history of moving people around.

3. Industry knowledge. How well does the banker understand your industry? Is the banker a quick study? Are there parallel industries he or she can draw upon?

4. What’s the first banker’s position with the bank? What level is the person with the bank? That can give you an idea about how quickly he can be able to move and what kind of decisions he can make on his own without having to deal with a committee?

5. How are his people skills? You can tell a lot by how he deals with your people. That could be a good indication of how he deals with people inside the bank and how effective he can be getting things done.

6. How is he compensated? This can determine how does he look at your performance and how likely is he to be staying at the bank. For example, we know of one bank where new bank officers are required to make a substantial equity investment in the six figures in the bank. It’s no surprise that almost none of the officers leave and they have pretty strong track records for growth.

7. What speed does the bank work at? What the decision making process? How quickly do they move?

8. How broad is his exposure? Does he know much about other forms of financing, such as real estate, leases or other special financing needs that you might have? Another area can be cash management. How well does he understand the cash management side of the bank, so that he can be aware of other opportunities that the bank might be able to help you?

These were many factors to consider. It’s big decision, but as you see, don’t just evaluate the bank evaluate the banker too. A strong banker could tip the scales. For example, at our church we are refinancing our mortgage. We went with a larger bank than we might have otherwise because of the strength of the person that we were dealing with. He’d been with the bank for a number of years and he was not in a position where you would expect him to be making another career change towards the end of his career. The positives he brought to the table offset the concerns we might have had with dealing with one of the big banks and being a small fish in a big pond.

Find the right banker and you’re on the way to a much smoother banking relationship.