McCord retires to Siloam Springs after 40 years in banking


SILOAM SPRINGS – Tim McCord began his career in banking on January 4, 1982, and he ended his career exactly 40 years later.

McCord’s last day at Generations Bank was Tuesday, he said. A retirement party was held on Monday at the Torres family barn.

McCord said he grew up in Blackwell, Oklahoma. He studied at Central State University (now the University of Central Oklahoma). He first majored in computer science and math, but changed his focus to business.

While at Central State University, McCord served in the Student Senate. McCord said it was this service that helped him land his first job at First National Bank in Oklahoma City.

David Jones, who hired McCord, was also part of the student government at Oklahoma State University. Jones was in graduate school at Central State University where he read about McCord in the student newspaper and remembered him when McCord applied for a job at First National.

McCord was the first person hired at First National who did not have a degree from the University of Oklahoma or OSU.

Bank failures and new position

The two best offers McCord received came from First National and The Western Co., an oil company, he said. McCord said he tried the bank because the hours were better.

McCord was hired as a financial systems analyst for a new department made up of financial analysts and computer programmers.

“It was a precursor to data mining,” McCord said. “This is where I learned financial modeling. We used a program called VisiCalc on an Apple 2C.”

The VisiCalc program was a precursor to Excel and was the first such computer in banking, McCord said.

It was a fortuitous move because six months after McCord began working at First National, the oil crisis occurred on July 4, 1982, he said.

Moving to Siloam Springs

In 1986, Oklahoma City’s First National Bank went bankrupt, McCord said. Shortly before the bank failed, McCord embarked on commercial lending, he said.

“Since the problem was regional and all of the lenders jumped ship and left town,” McCord said. “They were advocating for hot bodies. I was able to make the switch. I wanted to have a loan experience.”

After a year, the McCords wanted to return to the community and leave the Oklahoma City area, he said.

McCord said he made a list of the perfect place to live with amenities like a university, a diverse economy, a lake and it was pretty. Siloam Springs offered everything McCord was looking for except a lake, but there were lakes around, so the family decided to move, he said.

Another reason for the move was that McCord wanted a community that would give him the opportunity to volunteer.

“When you’re in a big city market and working in a bank, local chambers and organizations only attract high-level agents to the bank,” McCord said. “You come to Siloam Springs, and they invite everyone to contribute and make a difference in the community.”

McCord started at Arkansas State Bank in 1987, he said.

McCord remembers that when Fridays rolled around and Allen Canning Co. and Simmons Foods employees walked in over lunch to cash or deposit checks, everyone, including McCord and the president of the bank, would organize lines. counter to process these payments.

Around 2004, the Arkansas State Bank was sold to Liberty Bank, McCord said. He worked there for about a year as a branch manager at Siloam Springs before deciding to move on.

“At one point, the bank owner wanted to look young and pretty on the front desk,” McCord said. “So the person who had the most impact was someone who was not young. This requirement made me decide it was time to make a change.”

At that time, Signature Bank wanted to establish a branch in Siloam Springs, so McCord went to work there with Steve Wilmott and Beverly Lesgarde.

During the Great Recession, Signature Bank had to shrink and sell branches of Rogers and Siloam Springs to Generations Bank, which held shares of Signature Bank, McCord said.

Generations Bank has focused more on family businesses than publicly traded companies, he said.

Memoirs of a Banker

Asked about some of his most memorable moments in his career, McCord spoke of ups and downs. When First National failed, McCord recalled spending sleepless nights offering packages to attract capital.

“On the financial systems side, we generated scenarios about the bank’s survival,” McCord said.

McCord said he remembers people in costume from the Federal Deposit Insurance Corp. coming to examine the bank’s documents.

Another momentous moment in McCord’s career was the year 2000, he said. McCord was one of the few who owned a computer, so he was appointed IT director.

As part of a committee where the community was assessing the risks, McCord met in the house of city and utility representatives and discussed the situation. Everyone compared the ratings and came to the conclusion that everything would be fine, McCord said.

The year 2000 was supposed to cause serious computer problems, and some experts said it could cause problems for the economy when January 1, 2000 arrived. McCord said any upgrades made to computer systems around this time were enough to ensure there wouldn’t be any issues.

One of the things McCord struggled with was government regulations, he said. McCord spent some time as a compliance officer and said government regulations made the job difficult.

“It’s got to the point where the government wants to tell you who to lend and who not to lend,” McCord said. “What was meant to protect the consumer now takes forever to go through the process. “


McCord is a long-time volunteer for a number of different organizations.

McCord currently volunteers on the boards of the Choices Pregnancy Center, the Siloam Springs Regional Hospital Board of Directors, the Siloam Springs Public Schools Foundation, the Roy Chesney Fund and the Siloam Springs Public Facilities Board. , did he declare.

McCord is currently chairman of the board of the Choices Pregnancy Center, the hospital board of directors and the Roy Chesney Fund, he said.

Asked about the future, McCord said he was not sure but had some ideas. One of the things McCord said he wants to do is write a blog on business loans.

He also intends to continue volunteering, but perhaps not as strongly as before.

“It’s good when you can choose what you want to spend time with and not have to come to the office,” McCord said.

Marc Hayot / Herald-Leader Tim McCord stands proudly on the eve of his retirement from banking after 40 years. McCord started his career in Oklahoma City and eventually moved to Siloam Springs where he helped Generations Bank as well as the city itself grow.


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