Spotlight On: Heather Kesner, Branch and Small Business Regional Executive for the East Region, U.S. Bank
July 2024 — In an interview with Invest:, Heather Kesner, branch and small business regional executive for the East region at U.S. Bank, discussed significant milestones in Charlotte, the impact of inflation and interest rates, risk management strategies, and U.S. Bank’s commitment to diversity, equity, and inclusion.
What have been significant milestones for U.S. Bank in Charlotte over the past year?
There have been many significant milestones, but I’ll focus on a few key ones in Charlotte and the East region for U.S. Bank. Over the last 12 to 18 months, we’ve notably advanced our Business Access Advisors program, including right here in Charlotte where Kimberly Edwards was hired to lead our efforts in the city and surrounding communities, building on the success of her predecessor Tamika Stafford. U.S. Bank Access Business is a focused initiative under our U.S. Bank Access Commitment umbrella which provides information, connections and resources to help diverse small business owners sustain and grow their businesses.
Our team of advisors helps both business owners and bankers understand what local resources are available, educational tools to increase knowledge, and the process to be successful.
In Charlotte, Kimberly’s efforts have been critical in supporting the local community, leading us to expand the program to Nashville and Cleveland, joining Little Rock to comprise our Business Access Advisor team in the East region. These advisers connect small-business owners with local resources, helping them thrive. Kimberly works directly with individual entrepreneurs, has hosted a forum on how businesses can get capital, and even helped organize a pitch contest for growing small businesses.
Overall, the expansion of our Business Access program over the last 12 to 18 months reflects our commitment to supporting underserved communities and helping small businesses grow nationwide.
How have inflation and interest rate changes impacted your operations in Charlotte and the small businesses you serve?
Inflation and rising interest rates have posed challenges across the banking industry. Clients, including consumers and small business owners, are adjusting to higher rates on loans and savings, highlighting the importance of strong banker-client relationships. By focusing on holistic conversations, we better match our products and services to customers’ needs.
Charlotte continues to thrive as a desirable place to live and invest, and U.S. Bank is committed to this growth. Over the past year, we’ve doubled our branch footprint and added nearly 100 employees. We expect this growth to continue into 2024 and 2025.
To support small businesses, we’ve expanded our team of small-business specialists in Charlotte. With over 4,500 small-business clients, having dedicated bankers ensures we can provide sound advice and support. Our strategies include expanding our branch footprint and increasing our number of small-business bankers to help clients navigate the current rate environment, understand borrowing needs, and plan for the future. Our goal is to ensure small businesses in Charlotte have the resources and guidance to thrive despite economic challenges.
How have your risk management strategies adapted to recent challenges?
Fraud and increasingly sophisticated scams are at a high making it crucial for consumers and small-business owners to be vigilant about their finances. Consumers need to keep a close eye on all their accounts and double-check recipients when they send money through payment apps. Consumers should talk to their banker if they think something doesn’t look right. We train our bankers so they can help provide protection, prevention, and education, offering expertise and advice.
Our approach combines human and digital methods for efficient banking. While many clients prefer digital banking, the role of bankers remains critical. They ensure clients understand digital tools to prevent fraud and scams, which is essential as banking trends toward digital experiences.
We’ve invested in digital channels like web and mobile, with our app available in English and Spanish. This reflects our commitment to serving diverse communities. Hiring bilingual and multilingual staff helps us better represent and serve our diverse customer base.
By combining digital tools and human interaction, we help clients protect themselves from fraud and scams, lowering risks and enhancing the overall security of our banking operations.
How are diversity, equity, and inclusion values being implemented and expanded in U.S. Bank’s operations?
At U.S. Bank, we prioritize diversity, equity, and inclusion, earning several accolades for our efforts.
Our Access Commitment program supports minority-owned businesses and underserved communities with financial advice, capital, and support, part of our strategy to close the wealth gap and foster economic growth.
We also have employee resource groups for various backgrounds, promoting connection and support. For six years, U.S. Bank has ranked among Fair360’s Top 50 companies for workplace fairness, most recently at No. 14, highlighting our commitment to DEI.
How would you describe the health of small businesses today?
Small businesses are the backbone of our country, built on the dreams and hard work of immigrants and entrepreneurs; however, they face significant challenges, especially with rising costs and inflation. Since COVID, small businesses have navigated a complex economic environment with rising costs, making community, bank, and institutional support essential. Last year, we surveyed small businesses and found strong optimism, with 9 out of 10 respondents feeling positive about their future.
At U.S. Bank, we aim to be part of the solution. In April, the U.S. Bank Foundation distributed $15 million in grants from our Opportunity Fund to increase wealth-building opportunities for low to moderate-income communities, including rural, Native American, and communities of color. In Charlotte, the foundation distributed over $450,000 in grants to nonprofits like the United Way of Greater Charlotte, the Business Expansion Funding Corp, and Prospera.
These nonprofits support small-business growth and community development. When consumers support small businesses, these businesses thrive. Communities need the backing of nonprofits and corporations, especially in challenging economic times. Supporting these organizations helps small businesses by fostering a sense of community and ensuring resources are available even when consumer spending declines due to rising costs.
What are the top priorities and goals for the U.S. Bank in Charlotte for the next two to three years?
Over the past year, we’ve expanded significantly in Charlotte, opening three new branches in 2023, and doubling our footprint to six branches. The SouthPark branch opened in January, Huntersville in August, and Charlotte University in September. This growth is part of our strategy to establish Charlotte as a major hub. With over 1,200 employees across various business lines, we plan to continue hiring and expanding operations.
We are considering additional sites, including a new branch in South End set to open in late 2024 or early 2025. Beyond physical expansion, we are investing in our community and business lines, bolstering our small business banking team, and adding a new wealth team for financial advice. We’ve also introduced healthcare banking specialists for doctors, dentists, and veterinarians.
Our commitment to community investment includes a partnership with Greenlight, a family fintech company, to help parents raise financially smart kids. U.S. Bank clients with eligible checking accounts receive complimentary access to Greenlight, teaching children money management, budgeting, and saving.
This aligns with our goals of fostering growth and innovation in Charlotte. We are excited about the ongoing developments and new initiatives, reflecting our dedication to supporting our clients and the community.
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