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6 n e w h a v e n B I Z | J a n u a r y 2 0 2 3 | n e w h a v e n b i z . c o m O n T h e R e c o r d | Q & A By Michelle Tuccitto Sullo T imothy Geelan says his focus while leading the Connecticut Bankers Association will be to make sure every bank in the state has a voice. Geelan was recently named chairman of the CBA's board of directors, with his term to expire in October 2023. He previously served as the board's first vice chairman. e CBA represents Connecticut's banks and acts as their advocate, including in the state legislature and on regulatory matters at the state and federal levels. Its members include 47 banks, while another 88 banks are associate members. It also ensures information and ideas are shared among its membership, and offers educational pro- grams and services. Geelan has a lengthy background in the banking industry. He joined GSB (its formal name is Guilford Savings Bank) in 1994. During his nearly three decades with the bank, he has had multiple roles, such as chief loan officer and chief operating officer, before becoming CEO in 2014. He's grown the institution to just over $1 billion in assets and eight branches. It reported $3.3 million in profits during the first three quarters of 2022, compared to $6.1 million in the year-ago period, according to fi- nancial data from the Federal Deposit Insurance Corp. For the past decade, Geelan has served as an advi- sor for the CBA's Connecticut School of Finance and Management, which provides a curriculum aimed at training those in the financial services industry. He also serves as a member of the executive committee for the Connecticut Community Bankers Association. New Haven Biz recently spoke with Geelan about what he hopes to accomplish while leading the CBA's board. What are your priorities for your new role? It is mainly advocacy for the members. A lot of that is directed up at the state Capitol, where we are involved in the legislative process. It is really to promote positive legislation, and equally important is to either kill or modify what would be detrimental to the membership. e bulk is at the state level, but we are also involved nationally down in Washington, D.C., and we affiliate with the American Bankers Association. Education is a big piece, including (the CBA's Con- necticut School of Finance and Management). Everybody competes for talent, and it is not just within the banking industry. As we increasingly move toward a more digital and virtual world, you are competing for talent with industries and firms that are outside. We want to make sure it is a healthy and robust in- dustry. We consider the banking industry, particularly the community banks, vital to Connecticut and the economy. I like to refer to us as the catalyst for social and economic improvement in areas served. I think you saw that throughout the Paycheck Protection Program loans program. It was really the banks that answered the bell, the community banks in particular, when businesses were struggling and in need. at is what we are here for — we think we are vital to the well-being of Connecticut. e CBA is a vehicle that serves the interests of all member banks. We all compete with each other at some level, but we all share common interests too. What are the key issues facing the banking industry? Inflation is top of mind for everybody. You are looking at 7% thereabouts. We've got our eye on that. People who are on the edge are going to be more on the edge. What we need to do to address that is top of mind. Another key issue is digital and virtual change — it is really the transformation of the banking industry. I'll talk about GSB a bit. You want to keep the best of what got you to where you are today. We have been around since 1875. What you will hear me rail against is complacency. You've got to be relevant. My job as chair is to ensure that not only my bank, but all member banks really get the education they need to ensure they are more forward-looking than backward-looking. COVID accelerated (digital banking trends). Cybersecurity is a huge issue. And then talent. You can't do any of it without talent, so working with other organizations, whether it is the Connecticut Business & Industry Association or others to ensure a robust labor force. Connecticut has to be a place where the kids want to stay, and where there is talent. How can the CBA help? Legislative advocacy is important, to make sure you are promoting the positive, what would help the industry and customers, and preventing anything det- rimental. It is more than lobbying, it is also educating legislators about the perspective of our industry. Certainly working with prudential banking regula- tors to make sure the regulations are appropriate and right-sized based on the institutions. I can't stress education enough. In particular — cred- it analysts and commercial lenders. ere is sort of a wave of retirements coming. And a lot of them were formally credit trained. e big banks provided some of the best training around — and that is where a lot of them came from. I see a gap. To become an effective commercial lender, you really need formal credit training, credit analysis. Our School of Finance and Management can help with education. ere is another related program at Central Connecticut State University. (CCSU is offer- ing a certificate program in commercial lending.) You need quality lenders across the state to address the business needs. Making sure we have a robust, talented workforce — it is key to the industry. Where there are gaps, we will look to fill them, where people need training. at is where I think the CBA plays a role. Not every bank, especially small commu- nity banks, can afford it, nor do they have the scale to do it. ere is CBA's ASPIRE Leadership Academy. (AS- PIRE is an acronym for Advancing the Skills, Passion, Impact and Resilience of Emerging leaders. It launches in 2023 and is a 12-month program on topics such as coaching and creating a high-performing team.) Are you hoping to get more college-age individuals and others interested in working in the industry? ey are interested. ere are careers for most people in banking. People tend to think we are all bean counters, and it's not. If you are into the digital and virtual — you need people who are very talented technologically. ere is cybersecurity, to make sure people are protected. ere are marketing roles. We want to make Industry Advocate Education, inflation, cybersecurity top of mind for new banking association chair Geelan Timothy Geelan, who is president and CEO of Guilford-based GSB, is the new board chairman of the Connecticut Bankers Association. PHOTOS | GARY LEWIS Timothy Geelan GSB, President & CEO Connecticut Bankers Association, Board Chairman Education: MBA, University of New Haven Age: 58

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