Life, Leadership and Lessons Learned with John Medina

In today's episode of The Gateway Connection Podcast, Joey O'Hern is joined by John Medina, President of First Federal Bank. Listen in as they discuss the importance of leadership through influence, as well as multiplying talents through community involvement and how to stay open to opportunity.

Thank you for listening today, and thank you to Security Safe for their support of the Gateway Connection Podcast! For more ways to connect with us, visit lnk.bio/gatewaychamber.

Transcript

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What I have learned about leadership throughout my career is that the highest form of leadership is influence without authority. In short, my goal is to foster a leadership culture where, you know, regardless of title, individuals can influence the change in success. If you work for me, Joey, and I asked you to do something, and the only reason you're doing it is because I gave you a direct order or I'm your boss, I can assure you that it will never be as effective as having team members who are truly connected to our mission and our objectives. Welcome to the Gateway Connection Podcast, where we connect you with the movers, shakers, and leaders shaping our region. I'm Joey O'Hearn, Executive Director of the Chamber, and your host. Let's get started. Today's guest is John Medina, president and CEO of First Federal Bank. He joined the bank in 2018 as chief banking officer and now leads its overall strategy, growth, and operations. Originally from the Dominican Republic, John has built a dynamic career holding roles ranging from commercial and private banker to corporate HR trainer, financial consultant leader, and area president. He brings deep expertise across lending, retail banking, and organizational leadership and has held multiple financial licenses throughout his career. Beyond the bank, John is deeply committed to community service, serving in leadership roles with nonprofit education, faith based, and economic development organizations across North Florida. Welcome, John, to the podcast. Welcome. Pleasure to be here. John, I'm thrilled to have you. I tell people that you're one of the most interesting, intriguing people that I know. So I'm excited that you're here to let people get to know you, your experience, and all the many, many, many hats you wear. So you've held roles ranging from commercial banking to private banking to HR training and executive leadership. How did that mix of experiences shape the leader that you are today? During what I've learned in over 40 years, yes, I'm that old, over 40 years of being in the banking industry and personally starting, buying, and selling businesses, is that the next three great business or career opportunities may not be in your radar. For the most part, every leadership role that I've had in banking was not on my radar. Companies that I've started or purchased were not on my radar. So simply put, I would encourage folks or those in leadership roles to at least consider new opportunities, including some that may most push your limits. I would certainly encourage you to do that. There's a great book out there by Burt Thornton called Find an Old Gorilla, and you're going to see a theme here. He was the president of Waffle House. And the short version of the book is if you're a young gorilla at the base of the jungle and you see a mountain that you want to climb, you can either go on that journey on your own or you can find an old gorilla that's been to the top and learn from them. And so it's a great book. I encourage you to read it. The paradigm is the word old. And so what I have found is age may not necessarily be a determining factor. I have a cousin, Manny, half my age, in the banking industry. The kid is brilliant. I mean, he is a genius, especially when it comes to things like technology, loan operating systems, customer expectations, customer experiences. I mean, the kid is just brilliant. So Manny, who's half my age, is one of those mentors who I routinely turn to and say, Manny, help me understand this. And so don't allow the word old to kind of get in the way. For sure. Speaking of your career, as you look back, what role has had the biggest impact on how you leak people today? Frankly, it was serving in the military. As a non-commissioned and commissioned officer, it really shaped my career going forward. And one of the first things I learned was that, especially as an officer, when I was saluted, it was a reminder that I am there to serve them and not them to serve serve me. And so that translates, I think, very well to the banking industry and really life in general. Speaking of the banking industry, it's obviously changed, let alone the last 10 years, the last few decades. What do you think the biggest change in banking is that you've seen and what did that teach you about evolving and adapting in the workplace? Yeah, without a doubt, it's speed of change and how that change impacts team members and customers' expectations. Joey, I'm guessing you're too young to remember most of what I'm about to say. But when I started in banking, we had things that were called fax machines that were exploding. Emails were only internal. And pagers, if you were a high-ranking officer, you were fortunate enough to have a pager. Or the compensation. Yeah, that was that was you got one of those. You argued for one of those. So you fast forward to emails, emails eventually having attachments, cell phones, computers. And today, I would argue we're firmly in the digital age. And now, seeing the early impacts of artificial intelligence, blockchain, and all types of technology that is going to completely shape the future of our society and industry. So once again, what have I learned? I recommend a book. Imagine that. A famous book called Who Moved My Cheese? Yeah, yeah. Probably read by most of your listeners. But, you know, what the book says, in short, is that change is inevitable. And so it's not the change, but rather how we choose to react or anticipate the change. For sure. How is AI impacting the banking industry as of now? Well, we're in the earliest stages. And so one of the biggest issues is from a regulatory perspective, you know, we control and have access to a lot of information, a lot of personal and private information. For sure. And so while on the one hand, we want to maximize artificial intelligence to help us be more thorough, more efficient, better delivery of products and services and solutions, at the same token, safeguarding the information and safeguarding our consumers, especially in an age of fraud, is critical. So if AI were a stock, I'd say it's too new to rate, but we certainly are optimistic in terms of where we're headed with that technology. Do you think it has the potential to impact your actual workforce, whether reducing, increasing, making them more efficient, et cetera? I do. And let me tell you how. I don't necessarily see a reduction in full-time equivalence. I see a reallocation of that intellectual capital. And then what I do see is between AI and the systems that are available, us being able to have faster delivery of service or solutions, being more efficient. And I spoke with the president of one of a large tech company that supports us. And I asked him, I said, what do you envision AI happening? He says, John, take any process within a mortgage. So for example, underwriting or closing closing. He says, if you have 12 individuals doing that function today, in three years, you're going to have eight individuals doing that function, but they're going to do three times as much work. And so it doesn't mean that we're going to reduce staff necessarily, just means that we'll be able to reallocate talent to other parts of the bank. Well, specifically, as I would say first federal bank, though a large bank is still a community-based bank, in my opinion. I don't know if you agree or disagree. The chamber of banks with First Federal, transparently, I still like to be able to call people. I like to be able to speak to GG or Chris Renee, like call the person and not speak to a computer. And that is something that I don't think personally as a customer will ever change when it comes to banking. Yeah. Joey, I agree. Focus group after focus group, survey after survey, feedback after feedback. Consumers say the exact same thing, regardless of how the question is asked. You know, they want solutions and service that is fast, easy, and error-free. And most importantly, they want it where, when, and how they want. And so that's something we got to constantly be cognizant of. For sure. So changing gears, more on a personal level. You were born in the Dominican Republic. How's your background and really your personal journey influence how you think about leadership and opportunity as a whole? Well, I firmly believe, Joey, that we all have God-given talents and we're all called to maximize those talents. Coming to this country, live o to be more specific, at the age of 10, not knowing the language or the culture, could have been a catastrophic setback. The day before I started Suwanee Elementary School, I remember my mother telling me that in any language, the two most important words are please and thank you. And I can tell you that my first day of Suwannee Elementary School, I far exceeded. I excelled. You know, kids would come up to me and go, Boy, you're not from around here, are you? And I would say, please. Then somebody else would come and say, Boy, where are you from? And I would say, thank you. And that's where my homeroom teacher, Miss Lord, taught me the third most important word in any language, bathroom. And so it was uh those were interesting times. But you know, George, what I know today that I didn't realize then is that God was exposing me to talents that I could have never imagined, or they may not have been fully developed in the Dominican Republic. You know, talents like a strong work ethic, faith, values, character, teamwork, conation, and so many others. I would guess that most of your leaders or listeners can connect to those early lessons in life that have helped them be successful in where they are today. I forgot one very important talent. I'm living proof that women from the South marry down. And so next, next to God, my wife is my most important role model and mentor. For those who may not know John's wife, she is fantastic, a real joy if you do get to know her. So, yes. Thank you for not saying that I am living proof. I think your personal story is so just really intriguing and cool. Specifically, I mean, the odds were stacked against you. I mean, to be 10, moving to Live Oak, Florida to your role now. What is something about your personal story that people might not fully appreciate when they look at your professional resume? Joey, in most circles, I would guess I'm the only one who was born in another country. English was not my first language. I had a green card, which allowed me to enlist in the U.S. Army. And I chose, I chose at the age of 25 to take an oath and become a U.S. citizen, primarily so that I could serve our country as an officer, as a light infantry officer. And so, you know, with very few exceptions, I would say that we are all either immigrants or descendants from immigrants. And unfortunately, in my opinion, segments of our society and media, frankly, marginalized the concept of immigrants. And so I consider it a high, high honor to be an immigrant and hope that in some small way I have and will be able to do good in our community, the state, the country, and the world. For sure. You've led multiple banking environments. How has your definition of good leadership changed as you've moved from large bank systems into a community bank setting? Well, I'm not sure that I am qualified to define what is a good leader or good leadership. I certainly don't consider myself to be a subject matter expert. But Joy, what I have learned about leadership throughout my career is that the highest form of leadership is influence without authority. In short, my goal is to foster a leadership culture where, you know, regardless of the title, individuals can positively influence the change in success. If you work for me, Joey, and I asked you to do something, and the only reason you're doing it is because I've given you a direct order or I'm your boss, I can assure you that it will never be as effective as having team members who are truly connected to our mission and our objectives. From smart home systems and 24-7 monitoring to commercial surveillance and access control. With mobile access and real-time alerts, you're always in control. And when you need help, you'll talk to a real person ready to support you. Security Safe. Peace of mind, day or night, home or business. Visit securitysafe.com today to schedule your free security assessment. So when you stepped into the chief banking officer and then president role at first feral, what was the first real strategic priority that you felt needed your attention? Typical of my leadership style and predisposition, Joey, I always enter all new roles with a well-defined and articulated 30, 60, 90 day, and one-year plan. One of my previous role models and mentors told me when I was taking a senior level role at Wacovia, John, that's the most impressive 30, 60, 90-day, and one-year plan I have ever seen. Can I give you some advice? I said, Of course. But I'm thinking it's already in my plan. Clearly, you did not read my plan. I'm disappointed in you, Mr. CEO. And he said, John, you're taking over a division of the bank that has approximately 5,000 employees, 500 branches, and located in multiple states. In your first 30 days, you should do the following visit, listen, think, and learn. Let me read that. Visit, listen, think, and learn. Say somebody write that down that's listening. Joey, I can assure you that he was absolutely right. And I can also assure you, those words were nowhere in my plans. I'm forever grateful for those kind of role models that can give me that kind of more frequently a better perspective. As I walked out of the office, I smiled. I thought of another role model that two weeks before, his name is Marshall Vermillion. God, God rest the soul. Marshall had called me to congratulate me on getting that particular role and left a voicemail in my BlackBerry. You remember Blackberries? Yeah. Marshall left a voicemail, and it was an extended voicemail somewhere along the lines of John, congratulations. You were absolutely the most qualified leader to lead that particular division. You're going to be amazing. You're going to be successful. You've got thousands of us that are here to support you. Please call on us. And he just went on and on. And um, I believed everything he said. And then right before he hung up, or right before he ended the voicemail, he says, John, remember one thing. The higher a monkey climbs a tree, the more he shows his rear end. And you know, I thought about it. I wasn't arrogant, but my thoughts were of an arrogant nature. And Marshall knew that. Not that Marshall knew that, but the the wisdom that he shared with me just two weeks before couldn't have been more on the dot. But there has to be some level of confidence to lead a team and a department and a bank of that size, no? Yeah, yes. Um, but is it confidence in yourself? Is it confidence in the team? Is it confidence in the support systems? Is it faith? You know, I would say it's a combination of all those things. And you know, in the Army, we we had a saying the six P's of success. I don't know if you've heard of this. Proper preparation prevents piss poor performance. And so I write that down. That's also good. And so while having confidence is great, I kind of go back, and this is gonna sound arrogant, I gotta go back to if you don't have a 30, 60, 90 day or one-year plan, you're probably behind the the curveball. And so I think it's extremely important to have that. So, how do you approach balancing structure and scale with the flexibility and relationships that define community banking? Joey, yeah, I don't think it's just community banking. I think all organizations attempting to balance structure and scale. It comes down to a few things. One, I think intellectual capital, leadership, and partnerships. You know, for example, we just talked about artificial intelligence and blockchain and other emerging technology that, again, I agree with, I think will change the course of business and perhaps society. You know, so as a CEO, I need to ensure that we have access to intellectual capital, both internally and externally, that can help us navigate our path. You know, also I need entrepreneurial leadership that can help us be opportunistic and maintain safety and soundness. And finally, we need partners that can help us there. Again, we need some old gorillas to help us as we move forward. For sure. Changing gear is something that I know is near and dear to your heart, community service. It's been a consistent theme throughout your career. But what first pulled you into a level of civic involvement that goes beyond your day? Let's go back to Swanee Elementary School since we started there. Honestly, Joey, as far back as I can think, you know, Cub Scouts, Boy Scouts, the concept of service has just been ingrained. Family, friends, community. You know, if you think about whether it's in the faith-based community, high school, college, army, rotary, and certainly my vocation, community service is something that allows me to multiply my talents. We talked about that earlier. I can't think of a better venue to be able to multiply your talents than in helping others. For sure. How do you decide in your limited free time, John, what gets your attention when there are so many needs throughout our region? Well, the truth is managing work-life balance with community service has always been a challenge for me. It's an opportunity to multiply your talents, and simultaneously it's it's a challenge, it's a real challenge. And so I don't pretend to be able to maintain that balance. You know, Stephen Covey, a famous author, says that, you know, sometimes you have to say no for the greater yes within. You know, as a leader, I also have to do a better job of allowing other members of my team to serve nonprofits that benefit our communities and also allow them the opportunity to multiply their talents. Absolutely. I'll give you one example that you may be familiar with. If not, you're going to be familiar with it, especially in June when Mark Wilson comes to town. I'm the incoming chair for the Florida Chamber of Commerce, and we've got a project called the Prosperity Initiative. And it, we have the data to be able to look at the zip code level and identify children that are at risk. And the concept of the Prosperity Initiative is to aggregate centers of influence, community leaders, and organizations that can actually impact that. And I'll give you an example. Right now, we are a zip code sponsor for a zip code in Jackson County. I have one of my colleagues there, Sandy Speer, who's a regional manager. And within that zip code, and I may get the numbers slightly off, we've been able to identify 88 youth, 88 individuals who are at risk. Any way you look at it, from the standpoint of food insecurity, shelter insecurity, levels of literacy, et cetera. Those are 88 future leaders of this country potentially who are at risk. And so it's not necessarily about money, it's about convening the resources that can influence that. And so I don't know that they've set their goal yet, but just let's just say hypothetically, their goal as a community is to go from 88 in that zip code, let's say to 50 within an 18-month, two-year period. Think about the impact that that would have on the zip code, on the community, and in the future of those leaders for this country. And so those are the kind of things that really get my attention. Literacy, uh housing affordability, healthcare. It's just there's a lot of things that that I think we can do, do a good job of. And I appreciate what you and the chamber do as being a convener of those resources in our communities. For sure. Well, thank you. So last question as we wrap up, we ask everyone this question as we end the episode. What is one leadership or business tip you live by or had to learn the hard way? Well, most of what I've said, I've I've referenced other people. And so I don't want to disappoint you. So I'm going to reference a quote. I think it's a great quote from Warren Buffett. He says that when the tide goes out, you see who's swimming naked. When the tide goes out, you see who's swimming naked. It is extremely difficult to predict. I certainly can't do it. People ask me all the time, John, what are interest rates going to do and and and when. And I tell them, if I give you an answer, do the complete opposite because I can't predict. I don't know that anyone can predict. But I'll tell you what we can do. And obviously in banking, interest rates in the financial markets have a significant causal effect on our ability to survive and thrive. And so we make every effort to hedge or at least understand the risk that's associated with the various environments. And so again, we want to be able to hedge and understand the risk so that when the tide goes out, we're not air quotes exposed. Right. Well, John, thank you so much for your time. Nothing but insight and wisdom as always. So we really appreciate you being here. It's a pleasure to be here. And again, I appreciate all that you and the chamber do to help this community. Thank you. Thank you again to Security Safe for their support of the Gateway Connection Podcast. And until next time, don't forget to subscribe, leave us a review, and share it with a friend. For ways to stay connected, be sure to visit the links in the show notes, and we'll catch you here next time on the Gateway Connection Podcast.