Michelle Schaefer Announces Retirement

After 50 years in banking, Michelle Schaefer, Assistant Vice President/Retail Advisor, has announced her plans to retire. The bank will be hosting a retirement open house from 1-4pm on June 5th at First Security in Hampton (100 1st St. NW.)

It all began following high school graduation in a small Illinois town where Michelle’s dad managed a discount store. The bank where they held their business accounts was hiring, so Michelle applied. She got her start working in bookkeeping and as a Teller before following her dad to Hampton, where he had transferred to open a new store. There, she applied to work at Hampton State Bank, and in May of 1977, she was hired on the spot to start the following week.

At that time, Hampton State Bank was temporarily operating out of a building across the street, as its original location had been damaged by a fire that started in the neighboring clothing store. The reconstruction of its new building completed just a few months into Michelle’s career there.

“I was so excited to be working in a brand-new bank,” said Michelle. “The rest is history as I have been in this building since 1977.”

Although Michelle has been a fixture in banking, a lot has changed since she got her start.

“When I started, everything was done by hand. For example, we hand folded statements and personally delivered them to all our business customers,” said Michelle. “There was a lot more foot traffic back then.”

Another big change occurred in 2015, when First Security Bank and Trust purchased Hampton State Bank and Michelle would have the added responsibility of taking loan applications.

“I studied for weeks and, on top of that, had to navigate the testing site in Des Moines on crutches after recently breaking my ankle,” Michelle said. “Sitting in a room full of 20-year-olds while in my 60s was intimidating. I must have looked anxious as I waited for my results, because the woman behind the counter caught my expression and said, ‘You passed!’ I couldn’t help but let out a yell—and the room erupted in applause.”

Michelle later celebrated by having her husband Bob take her out to a steak dinner.

Speaking of Bob, their relationship is the most special memory of Michelle’s banking career. In 1978, he was working in construction and laying brick at the Koerner Whipple building next door. Michelle would walk by each day on her way from the main office to the drive up to cover lunches.

“I spied this young man who also looked at me,” said Michelle “He did some investigating and called me for a date. Later, I learned that he had said to the guy who laid brick with him, ‘Now, that’s the kind of girl I would like to marry.’ We have been married for 47 years this year and have been blessed with two daughters.”

With 49 years in one building, Michelle was bound to develop other meaningful relationships at work and in the community.

“The most rewarding part of my career are the friendships I have made,” said Michelle. “Whether it was coworkers or customers, helping with finances or sharing family stories, they are fond memories.”

“She is a friend to everyone and customers trust her unconditionally,” said Donnis Borcherding, who worked alongside Michelle from 1978 until her retirement in 2024.

“Michelle’s legacy is measured in part by the countless people she taught, encouraged, and inspired along the way,” said Retail Supervisor Kayleigh Bass, who started her banking career in 2017. “She always takes the time to help others learn and grow, and her patience, wisdom, and kindness make a difference every single day.”

Michelle’s influence will continue through those who have had the privilege of working alongside and learning from her. Her impact on the community will also endure as she’ll remain actively involved in volunteer efforts with the Lions Club and the Preservation Commission.

“I hope, with retirement, that she puts herself first and enjoys all of the little things she hasn’t had the opportunity to do,” added Donnis.

Until Bob is ready to retire and travel, Michelle plans to focus her free time on family, chasing grandkids, and finishing some projects and crafts at home.

Michelle added, “It’s time for me to make this move, and I’m sure it’ll bring a whole new and rewarding adventure. Those I’ve worked with have a special place in my heart and I wish them all the best in their life adventures, too.”

First Security Bank & Trust has locations across North Central Iowa and headquarters in Charles City. Member FDIC.