THURSDAY, JULY 23, 2020 | IN THIS ISSUE
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Wellmark announces Harris as its new CEO-elect
• CBJ Podcasts: Tom Cilek talks trucking with Mike Gerdin
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West Bancorp cautious despite stronger earnings
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CBJ invites Fall Leadership Academy applications
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Community Foundation awards funding to nonprofits
• Corridor events, KCRG-TV9 headlines and First Alert Forecast
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Wellmark announces Harris as its new CEO-elect
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Cory Harris, Wellmark Blue Cross and Blue Shield’s president and chief operating officer, was named CEO-elect by Wellmark’s Board of Directors, the health insurance company announced today. Mr. Harris will become Wellmark’s chief executive officer effective Jan. 1.
Mr. Harris joined Wellmark in 2011 as executive vice president and general counsel, and has held a variety of roles within the organization. In 2018, he was named
chief o
perating officer and assumed responsibility for driving Wellmark's enterprise-wide operations and long-term business strategies.
He also leads several of Wellmark's affiliated entities, including as chairman, chief executive officer and president of Wellmark Health Plan of Iowa Inc. and as chief executive officer of Wellmark of South Dakota Inc.
“Wellmark plays a vital role in ensuring access to affordable, quality health care for our members,” said Mr. Harris in a release. “I am humbled and honored with today’s announcement.”
Mr. Harris will succeed Chairman and CEO John Forsyth, who plans to retire at the end of the year. Mr. Forsyth has led Wellmark since 1996 and is the longest-serving Blue Cross Blue Shield CEO.
“Cory has played a leading and critical role in successfully developing our long-term corporate strategy and driving our strong business performance over the past several years,” said Mr. Forsyth. “He is undoubtedly the right person to continue to lead the execution of that plan as Wellmark continues to evolve to meet the needs of our members.”
Wellmark’s Lead Director Daryl Henze will replace Mr. Forsyth as Wellmark’s chairman.
IMAGE: Cory Harris CREDIT WELLMARK
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CBJ Podcasts: Tom Cilek talks trucking with Mike Gerdin
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If you’ve been in the Corridor business community for even a short time, you already know Tom Cilek. He’s a vice president at a bank, a former lawyer and one of the Corridor’s most connected business leaders. He loves making new friends and making things happen in Eastern Iowa.
We’ve decided to capture Tom’s inside conversations with the region’s leading business minds in a monthly podcast, “Tom Cilek’s New Best Friend,” presented by (his employer) West Bank.
In the latest episode, Tom calls up Michael Gerdin, chairman and CEO of Heartland Express, to discuss his life and upbringing around trucks, his introduction to marathons and the life of a pandemic-era truck driver.
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West Bancorp cautious despite stronger earnings
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West Bancorporation, the parent company of West Bank, reported stronger second quarter net income, while citing uncertainty over COVID-19 for a decision to break its string of annual dividend increases.
The company reported net income of $8 million, or 48 cents per diluted share, up from $6.7 million, or 41 cents per share, in the second quarter of 2019. Loans outstanding increased 13.3% due largely to the volume of Paycheck Protection Program loans originated, and credit quality remained strong. The company declared a dividend of 21 cents per common share.
COVID-19 is expected to have an adverse effect on West Bancorporation’s loan pipeline and loan portfolio credit quality during the remainder of 2020, the company said, as disruption to customers could result in increased loan delinquencies and defaults, and a decline in overall loan demand.
CEO Dave Nelson, citing “unprecedented challenges,” said the pandemic’s long-term economic impact remains uncertain and highly dependent on variables that are difficult to predict. The company’s allowance for loan losses stood at 1.08% of outstanding loans excluding Paycheck Protection Program loans, which are 100% guaranteed by the U.S. Small Business Administration, and management believes the allowance adequate to absorb any losses at that date.
“Throughout the pandemic, West Bank has continued to deliver all of our banking services and respond to our customers’ needs in a timely and efficient manner, as demonstrated by the implementation of the Paycheck Protection Program and prudent loan modifications,” Mr. Nelson said in a release. “We remain committed to supporting the recovery of the communities we serve.”
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CBJ invites Fall Leadership Academy applications
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The CBJ is accepting applications for its Fall 2020 Leadership Academy.
This rigorous five-session Leadership Academy focuses on practical leadership, coaching and management skills in a professional business environment, giving promising employees the skills and introspection to help them grow and lead.
“The eight-weeks facilitated some great self-discovery and vulnerability, which is fundamental to refining one’s leadership skills,” Jason Boyles, national account manager at Marion Process Solutions, said of the CBJ’s Spring 2019 Leadership Academy. “I can’t think of a better opportunity in the Corridor to expand my network with valuable resources from those in my cohort and the presenters in such a short time.”
This unique learning experience will enable participants to grow via:
- Personal and professional development through Core Values Assessment
- Established C-Level executives’ Leadership Lessons and fresh perspectives
- Custom curriculum including Team Building, Emotional Intelligence, Diversity and Inclusion, Community Involvement and Career Mapping
- Professional Network of Like-Minded Peers from a cross-section of industries
Lon Olejniczak, former global head of talent development at Aegon, will facilitate the sessions. Sessions will be held every other Wednesday from Sept. 30 through Dec. 2, barring the week of Thanksgiving.
Applications are open to emerging Corridor business and nonprofit leaders who are poised to take the next step within their organization. If selected, participants must pay a one-time enrollment fee of $2,950. The fee includes all meals and materials needed for the class.
For more information or to apply, visit
corridorbusiness.com/leadership-academy/
. Applications should include the nominee’s recent resume or bio and one letter detailing why the nominee should be selected. All application materials must be submitted together. Applications are due Aug. 21.
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Community Foundation awards funding to nonprofits
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The Community Foundation of Johnson County has awarded $164,871 in emergency funding to 35 local nonprofit organizations using its Emergency Response Fund.
The Emergency Response Fund provides resources to nonprofit organizations in Johnson County working with communities who are disproportionately impacted by the coronavirus and the economic consequences of the outbreak.
The Community Foundation also administered grants through the Coralville Community Fund, a fund hosted at the Community Foundation of Johnson County that supports Coralville’s nonprofit organizations and community needs. This fund awarded $10,000 in coronavirus relief grants to community organizations.
In addition, 5224GOOD, a giving organization connected to the Community Foundation, awarded $25,000 in coronavirus relief grants. These grants were made in partnership with the Community Foundation of Johnson County to requests the foundation was unable to fully support. 5224GOOD stepped in to provide additional funding to those requests.
To see the list of nonprofits that received funding, visit
here
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Connect with the CBJ
The CBJ’s mission of informing and connecting the Corridor’s business community is more important than ever. Our news operations will continue researching and reporting on the impacts of the COVID-19 pandemic through our multiple distribution channels. Here’s how you can connect with us today and moving forward:
- You can reach our newsroom directly with leads, updates, cancellations, etc. at [email protected].
- Our comprehensive, deep-dive content continues in our weekly CBJ. If you are not a digital subscriber, you can sign up here.
- Our daily news coverage solution is spread throughout the week with our free e-newsletters. If you have not already signed up, you can do so here.
- Updated coronavirus information will also be published on our website, corridorbusiness.com/latest-coronavirus-updates, and through our Facebook, Twitter and LinkedIn channels.
- All of our staff members remain available to assist you. You can find our full contact information at www.corridorbusiness.com/cbj-contact.
Remember: Subscribers can access the digital CBJ anytime and anywhere. Don't remember your password? Please email
[email protected] for a password reset.
The CBJ print subscribers can also temporarily have the CBJ mailed to their home. To temporarily switch your address, please send your full temporary mailing address to
[email protected]. Please include start and stop dates for the temporary address.
Thank you for your continued support of the Corridor Business Journal.
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Short Term Event Planner
July 24
Cybersecurity Intern Series: Interviewing and Networking Tips for Security Roles,
by the Technology Association of Iowa, 1-2 p.m., online. The session will focus on recruiting tips and networking. Free. To register, visit
bit.ly/38XVwCZ
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July 28
Hiawatha Business Summit,
by Hiawatha Economic Development Corp., city of Hiawatha and Cedar Rapids Metro Economic Alliance, 8 a.m., online. Mary Lund, manager of Stillwater Coffee, will present “
Windows of Opportunity – How to See Chaos as an Opportunity to Innovate.” Free. To register, visit
bit.ly/2YLKfCB
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July 29
Iowa Fraud Fighters - Shield Your Savings Series,
by Iowa Insurance Division, noon-1 p.m., online. This webinar is for family members or caregivers of Iowa seniors and provides tips for caregivers to recognize the red flags of Medicare fraud and investment scams. Free. To register, visit
bit.ly/3gBQX41
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1 Million Cups,
by 1MC Iowa City, 9 a.m., online. Join for community connections and presentations by entrepreneurs, established companies, experts and more. Free. For more information, visit
facebook.com/1MillionCupsIC
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July 30
Remote Leaders Online Roundtable,
by Executive Coach Jennifer Zach, 10-10:20 a.m., online. Touch base with other leaders who are leading remote teams, exchange resources and share what's on your mind. Free. To join, visit
bit.ly/3j5gXqm
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Ignite ICR: Launching Your Career,
by ICR Iowa, noon, online. The final Ignite ICR event will focus on job opportunities that exist within ICR Iowa. Jennifer Daly, president and CEO of ICR Iowa, will give a short overview of key industries and the businesses that represent them within the region. Free. To register, visit
bit.ly/2Ys3LUw
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How to Support Minority-Owned Business by Creating a Supplier Diversity Program,
by Iowa Economic Development Authority, 2 p.m., online. Speaker
Kathey Porter will share an overview of supplier diversity, its advantages to your business and how to successfully launch a supplier diversity program. Free. To register, visit
bit.ly/3eyyLa5
.
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These news items are provided by KCRG-TV9
While some school districts, including Cedar Rapids, Iowa City, and Linn-Mar, will require everyone to wear face coverings when they return next month, at least one district will not: the Solon Community School District.
The district’s
Return to Learn plan
, released this week, said, “Students and staff will be strongly encouraged to wear face coverings as feasible when social distancing or other mitigation variables are hindered.” During a webinar with families Wednesday, Superintendent Davis Eidahl said they were following
reopening guidance from the Iowa Department of Education
, which has recommended schools do not mandate face coverings. Eidahl said the district believes if the requirement is put in place but not totally enforced, schools and their staffs could open themselves up to potential lawsuits. Read the full story
here
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The National Cattle Congress has postponed the 2020 110th National Cattle Congress Fair in Waterloo until Sept. 15-19, 2021, due to COVID-19 concerns. “The National Cattle Congress believes this is the responsible action to take in an effort to keep everyone safe during this ongoing COVID-19 pandemic,” fair organizers said. Fair organizers also said the fair will return in 2021 for rides, attractions, livestock shows, rodeo, Motor-X, live music and fair food as well as other activities.
These news items are provided by KCRG-TV9
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Your KCRG-TV9 First Alert Forecast
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Wonderful weather continues today with plenty of sunshine and highs into the lower 80s in many areas. Parts of northeast Iowa may have a day in the 70s. Enjoy another day of lower humidity as that will greatly ramp up Friday into the weekend. As that front pushes by, it may possibly generate an isolated storm on Saturday though it looks like the better chance of rain may occur Sunday into early Monday with the passage of a cold front.
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