In this insightful Q&A, we sit down with Rick Schulte, a distinguished member of our board of directors, recently honored with an induction into the Quincy University Legal Hall of Fame. His career as a passionate advocate for justice has shaped his professional journey and the leadership style he brings to First Bankers Trust. From empowering teams to advocating for creative solutions, his unique perspective continues to drive meaningful contributions to our bank and the community we serve. In this interview, he reflects on key milestones, and his experiences on the board, and shares valuable advice for aspiring leaders.
Congratulations on your induction into the Quincy University Legal Hall of Fame! How do you feel this recognition reflects on your career achievements and contributions?
The core of being a good plaintiff’s trial lawyer is passion for helping those who have been wronged. Civil Trial lawyers provide access to the courthouse and often find justice for those who are poor or marginalized. Quincy University is a Franciscan University, and the core of being a good Franciscan is helping those who are poor and marginalized. The honor bestowed is significant because my professional path shares some of the same objectives as the University that gave me my start. I will be forever thankful.
Can you share some key milestones or accomplishments from your journey that you believe have shaped your leadership style and approach?
Often attorneys are focused primarily on themselves and like to talk about their biggest cases. This can prohibit their ability to scale their business the right way. When the wrongdoer you’re trying to hold accountable is a multibillion company, you must have scale, and a team with diverse talents and resources. Making the transition to an empowerment approach to management was probably my most significant milestone in my professional career. Learning to give up control of the things I am not good at, helping others find what they are best at, while giving them authority to act, has allowed me to build a dedicated team of attorneys and staff more than 100 strong. All of them committed to helping others find justice. By building our team, we can handle almost any civil litigation successfully. Learning to empower those around me has been my biggest accomplishment.
What inspired you to join the board of directors of our bank, and what do you find most fulfilling about serving in this role?
My curiosity to learn from bank staff and fellow board members first inspired me to join the board. Continuing to learn and improve my own skills is the most fulfilling aspect of serving on the bank board.
In what ways do you believe your background and experiences bring a unique perspective to the board discussions and decision-making processes?
My background as an attorney helps our board avoid “group think”. When board members become accustomed to each other and management, and the same group of people meet regularly over time and make decisions together, the board can become complacent. Groupthink can lead members to not adequately assess the potential risks and benefits of a decision. Attorneys are trained to be advocates and are comfortable taking positions that are unpopular. When we deal with a challenging issue, my advocacy promotes informed decision making while minimizing the likelihood of group thinking. By avoiding group thinking we are more creative and can avoid bad decisions, which leads to greater profitability. I believe my background has been helpful in this regard.
Can you share an example of a project or initiative during your tenure on the board that you're particularly proud of, especially regarding its impact on our community?
Providing leadership to management as they move into Niche markets is what I am most proud of. Ultimately the bank’s involvement and growth helps make our communities better.
Looking ahead, what do you see as the biggest opportunities and challenges for our bank in terms of community engagement and maintaining our values?
The biggest opportunity we have is to continue doing what we are good at while introducing innovative banking products tailored to our market’s unique needs. To do this, we must maintain our personal relationships with customers, maintain our strong local presence, while pushing the strategic integration of software that allows us to compete at the highest levels. Our board is committed to this process.
Lastly, what advice would you give to aspiring leaders, both within our bank and beyond, based on your experiences and successes?
Many people you meet will want to talk you out of success because they are incapable of leadership. Set your goals high and don’t be afraid to fail. How you handle your failures will be more important to your overall success than any single achievement.