Phillips County News - One Nation, Under God

By Mark Hebert
Publisher 

Galt becomes fourth FSB of Malta President named MBA Chairman

 

First State Bank of Malta President Bob Galt entered the 2019 Montana and Wyoming Banker’s Convention held in Jackson, Wyo., as a board member and left three days later with a new title: Chairman of the Board for the Montana Banking Association (MBA.)

The title of MBA Chairman of the Board isn’t new to The First State Bank of Malta’s presidents and Galt becomes the fourth person from FSB to be named to the position in the 104 years of MBA’s existence.

“There are four guys now from this bank and I’d venture to guess that has never happened at another bank in the state,” Galt said.

Galt will hold the position of MBA for one year and adds his name to the list with R. G. Monroe, R. H. Ulrich, and R. D. Scott as FSB of Malta presidents to hold the position of MBA Chairman of the Board. Galt was nominated for the position by his peers on the MBA Board of Directors which is currently comprised of 14 people. Galt has been an MBA Board member since 2015.

“One of the biggest things MBA does is advocate community banking for its members whether it be at the State Legislature or the Federal level by constantly lobbying for deregulation of regulations the Feds are sending down and state legislation that would be derogatory or is heavily anti-business for the locals at the state level.”

Galt’s responsibilities as Chairman of the Board for MBA include running meetings that are held twice per year and accompanying a delegation to Washington D.C. twice a year to tell the tale of community banking and trying to lobby the state delegation to support any current banking laws that are looking to effect change.

“I am excited from the standpoint that I am a big advocate of community banking,” Galt said of his new role. “I am excited to be basically perpetuating First State Bank’s legacy of former MBA Chairman, and I feel small town, community banking is a necessity for our state, and it is an honor to be able to represent other community banks in our state.”

Galt graduated from Stanford High School in Stanford, Mont., in 1983, and then from Montana State University in 1987 with a degree in Agricultural Business, but said he knew he wanted to be a banker at a very young age.

“I used to see the banker in Stanford walking down our street on his way to work with his white, short-sleeved shirt and black, pencil tie and I thought that would be a pretty decent job to have,” Galt said.

He married wife Barb in 1985 and moved to Malta in November of 1987 to start working at FSB as a loan officer trainee (hired by then FSB Bank President and CEO Ron Scott.) Bob and Barb have three children — John and Jay, 32-year-old twins, and Jase, 22, all graduates of Malta High School. Galt moved from officer trainee to loan officer in 1991 (wearing a dozen different hats), before becoming assistant Vice President and then FSB President and CEO in 2014 as he replaced Jim Sandsness.

“This job is rewarding,” Galt said. “It is definitely harder than when I started and I think if you ask any of the retired bankers around this area they would all say that it’s not nearly as much fun as it used to be because there are so many more regulations, but I still enjoy it.”

 

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