Jerry O’Connor, New CBW
Chairman: Incumbent on
All to Be Engaged
Mary Lou Santovec
T
he third of Sir Isaac Newton’s laws of motion states
that for every action there is an equal and opposite
reaction. Jerry O’Connor appears to intuitively understand
that law. He strives to live his life to maximize any positive
actions and thus avoids many negative reactions or
“consequences.”
O’Connor, CEO and board chairman at The National
Bank of Waupun and the new CBW chairman, grew up in
Lone Rock. One of seven boys, O’Connor and his family
moved to Madison where he graduated from Madison West
High School.
Rather than studying for a business degree like many
bankers, O’Connor went to Minnesota Bible College in
Rochester, Minn., where he majored in pastoral studies with
the consideration of being a pastor. He hasn’t fully left that
initial career choice behind.
Every Sunday, O’Connor preaches at a church in Wiscon-
sin Dells where he and his wife, Amy, own a vacation home.
“While this [preaching] remains a keen interest in my
life, I have found my talents and passions have fit equally
well in my role as a community banker,” O’Connor said.
When asked why he’s not working full time in ministry, he
quipped: “Gee, I thought I was.
“The principles still stand up whether you’re a preacher
or doing something else.”
Strong Family Ties
Besides his six brothers, O’Connor credits his father, who
lost his eyesight by age 40, as being an influential mentor.
“The defining issue for my dad was not that he lost his eye-
sight; it was his commitment to overcoming it.”
His father had owned a small Chevrolet dealership. When
his eyesight failed, he became the first blind person to be
licensed as a mortgage banker, real estate broker, and insur-
ance agent, all of which set the stage for his sons’ careers.
O’Connor’s brother, Tom, is president of TSB Bank in
Lomira and Terry is a senior commercial lender for Horicon
Bank. John serves as president of Madison’s Velcor Leasing
and Pat is a real estate developer. Jim followed his dad into
the car business as a dealer and Dan retired as a professor.
Jerry O’Connor began his career working in mortgage
banking with his father, helping him place large agricultural
and commercial real estate mortgages with insurance com-
panies. He moved from mortgage banking to work for the
Farm Credit Bank of St. Paul in their Fond du Lac office for
13 years. He later served as branch manager for M&I Bank.
His experiences all have one thing in common: “the lending
principles are the same.”
O’Connor joined The National Bank of Waupun as its
chief credit officer in 1988 and was promoted to CEO and
chairman of the board in 2007. Originally a private bank
chartered in 1876, The National Bank of Waupun received a
national charter in 1885 as The First National Bank of Wau-
pun. In 1905, with $60,000, shareholders reorganized the
charter as The National Bank of Waupun.
The bank has assets of $140 million, $125 million in
deposits, a $90 million loan portfolio, and a $34 million
investment portfolio. There are four locations in Waupun,
Brandon, Rosendale, and Fairwater and 33 “exceptional
employees.”
In addition to mentoring the O’Connor boys, “Dad …
challenged us to a level [of perseverance] where it would
never be asked, ‘And what is your excuse for not being able
8
Wisconsin Community Banker
September/October 2014
