What changes do you see in banking?
AI changes everything. I think AI will start to manage much of the risk-based decision-making on both sides of the balance sheet, such as loan approvals and pricing, along with deposit holds. The potential ability of AI to foresee areas of fraud that are currently running rampant would be a great addition to the tools we are already using.

On the other hand, AI can also be used in negative ways. We will need to fight the deepfakes that are already being used to trick our customers into disclosing personal information to the fraudsters.

In my mind, you are either using AI or will be run over by it.

What challenges do you foresee for bankers in New Mexico?
The federal reduction in Medicaid payments to our state will have a significant impact on the state budget.. How we handle this shortfall will be important across the state because many businesses are reliant on it.

Who was the greatest influence on your career?
I have had several impactful mentors in my life. I was raised by a single parent. My father taught me about discipline, honesty and hard work. He was firm but compassionate while we were growing up. He grew up poor, so he instilled moderation and simplicity in how we lived. If he found clothes in our closet that we had not worn in a few months, they were sent off to Goodwill so that someone else could use them. He also taught me how to cook. 

Sam Levenson was the president at my first real bank. I was uncomfortable talking to people I did not know, so Mr. Levenson made me leave my desk every time a customer came in to introduce myself. Nobody is born with the confidence that this helped me build. He was also the smartest self-made banker I ever knew.

Lastly, Ike Kalangis was the president of the holding company for the Sunwest Bank system while I was president of the Sunwest Bank in Santa Fe. We both grew up in Santa Fe and my Greek uncle knew Ike since he was born. Ike started the bank in 1973, so he was very interested in the bank being community focused and friendly. There was no private banking. Ike wanted every customer to have a private banking experience.

If you worked for Ike, your greatest fear was letting him down. He never yelled at anybody, and if you screwed up, his disappointment only lasted a few hours before he called you back to let you know everything was back on track.

Any advice for young bankers?
Hit the ground running. Consume information from all sources to build your knowledge base. Read the Wall Street Journal, Forbes, The Economist and other sources. Have discussions with your mentors about what you are reading. You will be visible and respected for your efforts.

Here is a great quote from Mark Cuban: “Read like a maniac. Knowledge compounds faster than money.” 

Also, don’t be a one-trick pony. Work and learn in all areas of the bank. Every member of bank management should be a teller for a month, as it will give them a true appreciation for what goes on at the front line. Learn about the back-room operations because it is a pace of work very different from the rest of the bank. Deadlines come fast every day until you settle. Similar to washing dishes in a restaurant, when you are done, everything is clean, and you go home with no worries. 

Finally, don’t be afraid to move around. Take the job no one wants and make it yours. You will differentiate yourself from the herd of people who are afraid to take a risk.

Tell us about your family.
Linda and I just celebrated our 40th wedding anniversary. She is a true partner, and I could not have had the success I have enjoyed without her support and counsel. She has also signed several personal guarantees for some business adventures along the way. That’s a confidence builder.

We have three boys, ages 34, 35 and 36. I am not sure how that happened so quickly. It was great because they all had the same interests growing up. All three are married, and Linda and I have eight grandchildren ranging in age from seven years to four months.

I am involved with the New Mexico Amigos, just finishing my year as president in 2024. I have also been on several nonprofit boards over the years, including St. Michaels High School, El Rancho de las Golondrinas, New Mexico Children’s Foundation, El Castillo and the New Mexico State Hotel Restaurant and Tourism Management Board of Advisors.

I also like to play squash, golf (work in progress) and cook for my friends. I am currently trying to play my trumpet again — the lip is weak after 40 years.