Iowa banker shares personal story
In banking for more than 35 years, Dale Torpey, is a well-known figure in banking, particularly in Iowa where he is president and CEO of Federation Bank in Washington, Iowa. I remember covering Torpey in the early 2000s when he was president of the Federal Home Loan Bank of Des Moines. Well, little did anyone know that at that same time he was dealing with a major crisis at home. His daughter was going through a stage of rebellion that had the entire Torpey family on edge.
Dale, along with his wife JoAnn and their daughter, Stephanie, shared their story in an emotional presentation last July at an industry meeting. It is highly unusual for an industry leader to be so open about his personal life. But I have to say that this was one of the most impressionable presentations I have ever heard at a banking industry meeting. I will never forget it. Just about all of us in the room have kids, and we could all relate to the angst Dale and JoAnn felt over their daughter.
Here is a glimpse of what Dale told us:
I had my priorities screwed up and I had to change. My success was based on how well the bank was doing. When the bank was doing good, I was doing good. Suddenly, a 1 percent ROA or 15 percent ROE didn’t make a damn bit of difference to me. I could not have cared less. So I had to start concentrating on priorities, and on my family and making sure that they were first.
In my Bible study, we did a study called, “When the game is over, it all goes back in the box.” It was something that just hit me. We all know this. We all know what’s really important in life. But sometimes it needs to be pointed out. What the study was about was the game of Monopoly. You accumulate houses, hotels, money, whatever material things you want… So when things go back in the box at the end of your life, what really counts is the relationships. What really counts are those people who are left behind. What kind of an impression have you made on them. And I know we know this. But do we really practice it? I knew it, I didn’t practice it.
I thank God everyday that JoAnn is in my life. If she wasn’t there, I wouldn’t be here today. I would not have made it by myself through this process. You need someone to support you. You need someone there that’s with you. Our goal for that one 18-month period was, we were going to get Stephanie back in one piece. That was all we concentrated on. And we have grown a lot closer over this whole deal.
I invite you to read the Torpeys story in the current print issue of NorthWestern Financial Review.
