[Congressional Record Volume 149, Number 131 (Tuesday, September 23, 2003)]
[Senate]
[Page S11831]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   KEN FERGESON, CHAIRMAN OF THE ABA

 Mr. NICKLES. Mr. President, today I rise to honor an Oklahoman 
who has climbed to the top of his profession. Today, Ken Fergeson, from 
Altus, OK, is being installed as the American Bankers Association 
chairman. He is also the chairman of National Bank Commerce in Altus.
  Ken has been active in the ABA for many years. He has chaired its 
Government Relations Council, Community Bankers Council, a joint trade 
association Credit Union Steering Committee and Minbanc Capital Corp., 
in addition to serving on the board of the Corporation for American 
Banking. He also served on the ABA Communications Council, Education 
Foundation and Professional Development Council, and chaired the 
Oklahoma Banker's Association.
  After graduating from college Ken began his career at Liberty Bank in 
Oklahoma City. A native Texan, Ken had interviewed and considered a 
better job offer from a Houston Bank, but he decided to go with the 
Liberty job in part because, as he joked, it had cheaper parking.
  It was at Liberty that Ken first became involved in the ABA and the 
Oklahoma Bankers Association as well as numerous charitable 
organizations, trade groups and civic organizations.
  After leaving Liberty, Ken went on to purchase National Bank Commerce 
in Altus. At the time of the purchase the 38-year-old father of two 
didn't have the money to buy the bank, but he knew if he could somehow 
find it he could make the venture work. So he decided to take some 
risks that he admits were ``stupid'' in retrospect: he got the biggest 
loan he could get, sold his house, withdrew his kid's college funds, 
and issued debentures and subordinated notes. His risk was rewarded as 
he expanded the bank's markets and customer base.
  Ken's success has grown over the decades, and for good reason. He 
conducts business with one concern in mind: What is best for the 
customer? He understands that a bank that conducts business in this 
manner will retain customers for life. Ken tells his employees not to 
``sell anything you wouldn't sell your mother.'' Many today will see 
this mentality as old fashioned, but you can't argue with success.
  When Ken was approached by his daughter about her desire to be a 
foreign missionary, his response was telling of his view of his 
business. He encouraged her to come to work for the bank. Ken noted 
that there is no greater mission field than the ``ministry of 
banking.'' In his own words he explains that the banking industry helps 
people ``plan for their children's education, or buy their first home, 
or plan for retirement, or expand a business. If those outcomes are not 
a ministry, I don't know what is.''
  The next chairman of the ABA will bring this experience and worldview 
to bear upon his new post. He plans on making ethics a central theme of 
his chairmanship. Ken believes that in life and in business you need a 
set of ethics to live by so that when tough decisions come your way, 
you will have a moral reference point to help you reach a conclusion. I 
am excited about Ken's chairmanship and the ideas and values he will 
bring to the table.
  I extend my sincere congratulations to Ken and his family and I wish 
him all the best as he takes his new post.

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