As this fall's Congressional races begin to take shape, some races are standing out as especially meaningful for bankers to potentially support. Friends of Traditional Banking's leadership teams are looking at races that are competitive, where our money bomb could help tilt the scales.

We are also looking at races where there is a clear contrast between candidates in how they support traditional banking. The final two races that receive our endorsement will be announced in the week after Labor Day. Candidates who get that nod, typically see hundreds of thousands of dollars pour in from bankers across the country, resulting in a solid track record of FOTB-backed candidates winning.

Here are the FINAL FIVE RACES under consideration at the moment (in alphabetical order):

Yvette Herrell (R-NM for US House)

Eric Hovde (R-WI for US Senate)

Rep. Mike Lawler (R-NY)

Rep. Zach Nunn (R-IA)

Rep. David Schweikert (R-AZ)



Harold G. “Harry” Wahlquist, chair and CEO of Star Bank, Maple Lake, Minn., passed away July 19, 2024, after an approximately year-long battle with pancreatic cancer. Wahlquist, whose career in banking began in 1960, was 85. Since 2017, he had represented Minnesota on Friends of Traditional Banking's Nationwide Banker Board.

Wahlquist was born in Minneapolis and lived most of his adult life in Edina, Minn. He once described his 60-year career in banking as "an awesome journey through life." For nearly 30 years Wahlquist was a correspondent banker with Minneapolis-based Northwestern National Bank, which he joined after graduating from Carleton College, Northfield, Minn. He became a community banker through the 1990 acquisition of First National Bank of Bertha-Verndale. He continued to acquire banks, and in 2000 rebranded his banks to Star Bank. Wahlquist continued to grow his banking franchise by acquisition – even after his cancer diagnosis; earlier this year, the bank acquired the Hancock, Minn., branch of Community Development Bank, Ogema, Minn. Today, Star Bank operates 11 branches throughout Greater Minnesota and the suburban Twin Cities and has approximately $430 million in assets.  

Wahlquist was a devoted industry advocacy, as well. In addition to leadership with Friends of Traditional Banking, he served with BankIn Minnesota, the Bank Holding Company Association, and was active with the Independent Community Bankers of America. When community bankers were called on to speak to lawmakers, Wahlquist never hesitated, his daughter said. “He always has been very vocal and passionate about using his voice for the greater good, especially about community banking.”

He deeply loved his family, and made community banking a family affair. The day before Wahlquist passed, Star Bank announced his daughter, Katie Wahlquist, would serve as president and chief strategy officer, and his son, Andy Wahlquist, would serve as executive vice president and chief operations officer. Both joined the bank in 2010. Wahlquist’s other sons, Kip and Charlie, serve the bank as directors. Wahlquist’s wife of 60-plus years, Maryalice, preceded him in death in December 2023.

Katie Wahlquist, President/CEO of Star Bank - Minnesota, has accepted an invitation to join Friends of Traditional Banking's Nationwide Banker Board. Katie’s father, Harry Wahlquist, served as a member of the FOTB Banker Board for years and we are honored that Katie has elected to succeed him in this role following his death from pancreatic cancer in July 2024. Katie currently serves on the Board of Directors of the Minnesota Bankers Association (MBA) and has been employed with Star Bank - Minnesota since 2010. She attended the Graduate School of Banking at Colorado (GSBC) and earned a MA from Bethel University and a BA from Drake University.

Katie is actively involved in the financial services industry nationwide and is a strong community bank advocate. She was named a Notable Woman in Banking & Finance by Twin Cities Business Magazine, an Outstanding Woman in Banking by BankBeat Magazine, and a Top Woman in Finance by Finance & Commerce Newspaper. Active in the community, Wahlquist currently serves on the Board of Directors of Star Bank; MidWest Bancorportation; the American Red Cross Minnesota & Dakotas Region; and a local non-profit, Transforming Resources. In her leisure time, Katie enjoys attending NFL or college football games, music concerts, and spending time with family members and friends at her summer cabin.

Mickey Schwarzbek has been named to FOTB's Nationwide Banker Board, representing Ohio. Mickey has been President/CEO of The Sherwood State Bank and their affiliates since 1998. He is a graduate of Fairview, Norwest Community College (NWSCC), and Defiance College. He currently sits on NWSCC Board.

Mickey served 14 years on the board of Community Bankers Association of Ohio and is a past chairman along with serving eight years on the national banking association (ICBA). Mickey and Anita have lived in Northwest Ohio their whole lives and in the Sherwood area for 26 years. They are owners of Iron Horse Brews restaurant. Mickey served eight years in the US Army in Communications.    

Ramon Looby, president and CEO of the Maryland Banker Association and a member of Friends of Traditional Banking's Advisory Council, has been named to The Daily Record's Power List for Banking and Finance Services for the fourth consecutive year. 

"This accolade is a testament to the unwavering dedication and hard work of our remarkable team," he said. "I extend my heartfelt gratitude to my colleagues, mentors, and all those who have supported me throughout this journey. Your encouragement and wisdom have been the cornerstone of my success."

Congrats, Ramon! Read The Daily Record's interview with him HERE.

Virginia Varela, a former vice chair and current executive committee member of Friends of Traditional Banking, has been named to the board of directors of Bank on Women, Inc. "Virginia’s tenure as a seasoned bank CEO and former bank regulator, coupled with her passion for making an impact, will be invaluable in shaping our future," said the six year-old 501(c)(3) non-profit organization in a news release.

Varela was the President and CEO of Golden Pacific Bank, a nationally chartered community bank headquartered in Sacramento for eight years until it was acquired by SoFi

Technologies in 2022, making it one of the most significant approved fintech bank purchases in the nation. Since the acquisition, Virginia has been the Head of Community Banking at SoFi Bank, N.A., and has led the Golden Pacific Bank division.

Bank On Women, Inc. is dedicated to educating the community banking industry on the importance of adding qualified women to the Board and C-suite, and to developing and promoting women leaders in community banking, with the goal of increasing the number of qualified women serving on boards of directors and in executive management.