Big banking has been Joanie Netterville’s world for most of her professional career. But in January, the former senior vice president and South Louisiana community banking executive for Regions Bank made a dramatic shift, becoming president of Fidelity Bank.
The difference between the two financial institutions is vast, akin to that of a big-box retailer and a mom-and-pop store. Birmingham, Ala.-based Regions Bank, where Netterville was considered a top performer, employs more than 28,000 people at 1,800 branches across 16 states. At the end of 2010, it held assets of $132 billion.
In contrast, Fidelity is a homegrown bank with just five branches, a staff of 55 and $152 million in assets. But it’s that small-business feel that Netterville found appealing.
“It’s an incredible environment to work in,” she says. “Every day, I feel a big sense of accomplishment because we’re able to make decisions easily that make a big impact on our clients. Here, I’m working in all aspects of the bank, and it’s really rewarding.”
Fidelity, CEO Meg Anderson says, is big enough to serve its clients, but small enough to fly under the radar of banks looking to buy. Chartered originally in 1987, the institution built its first branch in 2002 and opened its most recent branch in 2007. No other locations currently are planned.
Anderson, who previously served as COO, says she will remain in charge of operations, and Netterville will streamline and build business among the branches.
“Already, Joanie has made a big difference,” Anderson says. “It’s created a lot of excitement.”
Netterville says the decision to leave big banking wasn’t easy. She had achieved notable results at Regions and thrived on coaching her direct reports. In 2009, Netterville’s regional team grew revenue by 7.4% from the previous year, and was ranked No. 1 nationally in key financial indicators for Regions Community Banking.
By late 2010, she was managing a team of 17 regional bankers and held a $1 billion business book, the third largest in Regions’ southeastern U.S. footprint. Participating in the bank’s elite Stone Mountain management program had given her regional exposure. But advancement most likely meant relocation, which didn’t interest Netterville.
Furthermore, the significance of becoming Fidelity’s first female president and having the chance to work with a female CEO wasn’t lost on her.
“These opportunities don’t come along very often in banking, especially for women,” says Netterville, who was one of Business Report’s Influential Women in Business for 2010. “I had a real sense of loyalty to the people I worked with at Regions, but I knew I couldn’t pass this up.”
Anderson began courting Netterville late last year. They have known each other since Netterville’s early days in banking.
“I knew it would be a difficult decision for her, but I also knew that she would find the work here refreshing and challenging,” Anderson says. “When you come from big banking, as we both have, and you go to make a decision, your first thought is to flip around and check the manual. Here, there’s no manual. You have the freedom to make good decisions for your customers. It’s banking the way it’s supposed to be.”
Danny Montelaro, South Louisiana Group president for Regions Bank and Netterville’s former boss, fully supported her move.
“There’s no future in trying to hold people back,” he says. “It’s a great opportunity for Joanie. I’ve worked closely with her for 10 years, and I have pushed her to take more responsibility along the way. I think it’s a huge opportunity to use the skills she’s been blessed with.”
Netterville is charged with growing business through the bank’s main branch on Old Hammond Highway and branches on Jones Creek Road, Perkins Road, Central and Dutchtown.
“It’s very relationship-oriented here,” Netterville says. “We want to be able to really help our clients find solutions quickly and efficiently. It’s very hands-on. We’re not pushing people out to a 1-800 number. The number rings here.”
Netterville’s journey to the president’s desk started in unassuming fashion.
Self-financing her undergraduate degree at LSU in the late eighties, she needed a part-time job, and the proof department of then-Hibernia Bank accommodated her academic schedule. Shortly after, she needed to place school on hold and work full-time, moving into an entry-level position in the bank’s dealer services, where she stayed for the next three years.
Then, she took a job as executive assistant to Hibernia’s Baton Rouge leadership: Kyle Waters, Rob Stuart and Gee Gee Hargon. She developed a reputation as a go-getter, and she was encouraged to move away from clerical work and into banking itself.
It was a successful experiment. Netterville worked in business banking and chalked up strong figures. She moved into positions at Bank One and, later, Union Planters, which merged with Regions in early 2004. At 44, Netterville now finds herself at the top of the heap.
“I’ve had a spring in my step since I got here,” she says. “Having the chance to build something like this is very rewarding.”
