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Davison retiring as River Falls State Bank president

As President Dan Davison, left, looks to retire after 40 years with River Falls State Bank, Senior Vice President Todd Schultz will be taking over as the new president. Davison will retire in March. Photo courtesy of Kerri Olson

In his 40-year career, Dan Davison has worked nearly every position at River Falls State Bank, starting as a teller in 1978 and working his way up to bank president for the last 25 years. "I joke that I know how to use every machine but the coffee maker," Davison said.

After so many years with the bank, Davison will be retiring this year in March.

"I think it's the right decision for me and the right time at the right time and the right decision for the bank at the right time," Davison said.

In his extended career Davison said he's seen a lot of changes, especially with technology and regulation. He remembers proposing the bank purchase its first personal computer.

"I've seen more changes in technology in the last 40 years than I think anyone will see again in the same time frame," he said.

Regulations on banks in that time has also increased, Davison said, becoming more time-consuming and costly to follow.

Amid the changes, the bank has grown from $15 million in assets when Davison started to almost $90 million. Davison said the employees and customers are responsible for that growth.

"I'm just proud of the bank as a whole," Davison said.

As he departs Davison said what he'll miss most is the relationships formed with both employees and customers.

"All the good memories come back to the people, whether it's the customers or employees," he said.

Davison said it's the comfort and trust he has in the current employees that helps him feel he can retire now.

"The biggest compliment I can give to our current employees is the fact that I am retiring," he said.

Once Davison officially retires, the position of president will be taken over by current Senior Vice President Todd Schultz, whose own experience with the company mirrors Davison's.

Schultz has worked with the bank for 13 years, starting out of college like Davison did.

"We're not looking at anything really in terms of sweeping changes," Schultz said about taking over.

Davison's retirement has been in the works for two years, meaning Schultz has had plenty of time to prepare for the new position.

"Everything we've done is to make sure it's business as usual when I retire," Davison said.

Davison will consult with the bank for a year and continue his position on the board to further smooth the transition.

"I'll help Todd and the others if they need some old-time wisdom," Davison said.

Davison is looking forward to the time off, and everything he can do with it.

"I see so many people who work past an enjoyable retirement," Davison said.

An open house will be held for Davison from 4-8 p.m. on Friday, March 2 at Junior's.

Rebecca Mariscal

Rebecca Mariscal joined the Hudson Star Observer as a reporter in 2016. She graduated from the University of St. Thomas with a degree in communication and journalism. 

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