BANK ON IT: Ty Teague, Lending

By Arkansas NEXT: Money on Friday, May 14, 2021

Jacob Slaton
Ty Teague, Vice President/Lending at First National Bank

 Name:  Ty Teague
 Age:  27
 Hometown:  Jonesboro
 Alma mater:  University of Arkansas
 Major:  Finance with a minor in management
 Job Title:  Vice President/Lending
 Major:   First National Bank

Why lending?

To be honest, it just kind of happened. I worked a part-time teller job at Focus Bank in college and during my senior year an opportunity came up to work as an intern in the loan department. I really didn’t have a good grasp of what lenders did on a day-to-day basis, but I quickly learned it was a balance between financial analysis and networking/relationship building (which was right up my alley).

Did you always plan to go this route?

I definitely did not, but I am glad I did. I was one of the many students during my last semester who did not have a job lined up or a set career path I wanted to take.

Why should teens consider lending, too?

Well, I think everyone has different interests and skill sets, but if you are like me, and enjoy being a bit of a numbers nerd while also building relationships with people, I would urge you to consider banking. Banking and financial-sector jobs, in general, can be much more than sitting behind a desk looking at a computer for eight hours a day. In fact, prior to COVID-19, that was not normal at all.

Do you have to have a knack for certain things?

In banking, it’s very important that you are able to work and communicate well with others. You also need to be an eager learner who is always looking to soak up information or a better/quicker way of doing things. Be open to change — especially to technological change.

What’s a misconception about bankers:

It’s easily ‘banking hours.’ The bankers who are very good at their jobs and move up the chain tend to work more than the 8 a.m. to 5 p.m. that is required.

That’s not to say there isn’t some freedom with banking, as one of the most appealing parts to me is how easy it is to take off work when I need to, but it’s important to make sure you don’t leave behind unfinished work.

I can confidently say, however, that my job will not prevent me from attending many, if any, of my future kids’ sporting events, talent shows, etc.

"... If you are like me, and enjoy being a bit of a numbers nerd while also building relationships with people, I would urge you to consider banking." – Ty

Top 5 Highest-Paying Cities for Bank Jobs in Arkansas

1 Jonesboro $53,192 (Annual avg. salary)
$25.57 (Avg. hourly wage)
2 Fort Smith $48,079 (Annual avg. salary)
$23.12 (Avg. hourly wage)
3 Bentonville $47,323 (Annual avg. salary)
$23.75 (Avg. hourly wage)
4 Conway $47,112 (Annual avg. salary)
$22.65 (Avg. hourly wage)
5 Rogers $47,066 (Annual avg. salary)
$22.63 (Avg. hourly wage)

Source: ZipRecruiter

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