PWSB passes CEO title to fifth generation

James Schowalter, president of Port Washington State Bank, has a new title to his name — chief executive officer.

The change was approved by the bank’s board of directors on Jan. 27, making Schowalter the fifth generation of his family to lead the Port Washington-based financial institution.

“These are big shoes to fill,” Schowalter said Tuesday. “The good news is they taught me a lot through the years.”

Schowalter, 45, takes the title of CEO from his father Steve, who remains chairman of Port Bancshares Inc., the bank’s parent company, and executive chairman of Port Washington State Bank’s board of directors.

He also continues to serve on various bank committees.

“He’s semi-retired from the day-to-day functions but remains very active in the business,” James Schowalter said. “He by no means has walked away from the business.

“My dad loves this business and he’s very good at it.”

James Schowalter, who has worked in the banking industry for 23 years, has been with the bank for 20 of those years in roles spanning credit, operations and executive leadership.

He has served as president for the past six years and has been a member of the bank’s board of directors since 2015.

Schowalter said he will continue to serve as the bank’s president while adding the duties of CEO.

As CEO, he said, he will “spend a little less time doing and a little more time planning for future operations, making sure we have the expertise we need, avoiding risk we shouldn’t take, making sure we have the amenities customers and businesses will ask for in the future.

“It’s not making massive, sweeping changes,” Schowalter said.

As he does all that, Schowalter said, he will continue to handle the day-to-day duties of bank president, “actively managing all the business sectors we have.”

Schowalter is the fifth generation of his family to hold the title of CEO, following bank founder Clarence Hill — his great-great-grandfather — Hill’s son Donald, his son-in-law Ronald Schowalter, and Schowalter’s son Steve.

“This is an evolution of our family business,” Schowalter said. “I’m proud to be here working with these wonderful people and in these amazing places. We’re very lucky to be in the banking business  here in Ozaukee County.

“It’s good work, rewarding work. I get to work with 140 amazing people and have a profound impact on our community. It’s a gift to be in this office and do what I do each day — and do it with my family.”

In addition to his father, Schowalter’s uncle Mark Schowalter is the vice chairman of Port Bancshares and executive vice chairman of Port Washington State Bank’s board of directors.

Asked if there is a sixth generation in the wings, Schowalter noted his two sons are too young to make that decision yet.

“There is always a thought but we want them to find their own way, just like we were allowed to,” he said.

Port Washington State Bank has more than $1 billion in assets, with a portfolio of $1.2 billion in loans and $900 million in deposits.

It has roughly 4,000 customers who bank at the institution’s nine locations in Ozaukee County.

“We’re proud of our heritage, and we’re going to continue to be Port Washington State Bank and be a really great resource for our communities and our customers,” Schowalter said, adding the bank will continue to evolve but never forget its core mission. “We’re uniquely positioned to meet the needs of our communities.”