On February 3, 2026, Eric Lane, President and CEO, and Becca Worm of First Federal Savings Bank of Washington visited the Daviess County CEO Cohort. Eric shared his non-linear career journey to leadership, providing students with valuable insights into the banking industry and life lessons.
Banking and Financial Insights
Eric offered an in-depth exploration of key financial concepts and current challenges in the banking industry. He explained how rising interest rates impact borrowing, lending, and overall economic stability. Stressing the growing importance of cybersecurity, Eric discussed how financial institutions prioritize protecting sensitive data against evolving threats. He also highlighted the necessity of pledging collateral and maintaining a healthy credit score, linking these elements to financial success and responsible borrowing.
Eric emphasized the importance of the "5 C's" in assessing creditworthiness for individuals and businesses:
**Character: A borrower's trustworthiness and reliability.
**Capacity: The ability to repay loans based on income and expenses.
**Capital: Personal or business assets available as financial security.
**Collateral: Assets pledged to secure a loan.
**Conditions: External factors, such as economic conditions, that could impact repayment ability.
Life and Career Lessons
Beyond technical knowledge, Eric shared practical advice applicable to both professional and personal growth. He encouraged students to be good stewards of resources, whether financial, professional, or personal. He stressed the importance of committing fully to whatever you pursue, noting that dedication and perseverance are crucial to success. Eric reminded students never to underestimate the power of a first impression, especially in networking and professional settings, and to practice daily discipline, as establishing good habits is foundational to achieving long-term goals.
He emphasized that networking is critical, as strong connections can open doors and provide support throughout life. Eric encouraged students to have skin in the game by taking ownership and investing in their endeavors, noting that failure can be one of the best learning tools. He also advised them not to be afraid to pick up the phone and make direct connections. Staying educated and adaptable through lifelong learning prepares individuals for change in a dynamic world. Eric recommended preparing for the "what-ifs" by anticipating challenges and planning ahead to build resilience, and above all, to never stop learning.
Eric's concluding remarks emphasized timeless values that extend beyond business success. He highlighted the importance of building relationships, noting that success is often rooted in meaningful connections. He encouraged students to stay hungry and humble, balancing ambition with humility to continue learning and growing. Eric reminded them to learn from failures, as mistakes are invaluable lessons on the path to success. He stressed the value of surrounding yourself with supportive people, as a strong network of mentors, peers, and friends fosters growth. Finally, and most importantly, Eric emphasized putting family first, prioritizing personal relationships over work and recognizing their lasting importance.
Becca and Eric's visit left the Daviess County CEO Cohort inspired and equipped with practical insights for their future endeavors in business and beyond. Thank you!
