William “Bill” Rosacker passed away Jan. 12 surrounded by family at a care facility in Shakopee, Minn. Rosacker had a 51-year career in banking and was president of United Bankers’ Bank in Bloomington, Minn from 1985 to 2019. Rosacker, 79, was recently diagnosed with lung cancer.
Rosacker took over a struggling Independent State Bank of Minnesota — the nation’s first bankers’ bank — during the height of the agricultural crisis of the 1980s. The bank had less than $30 million in assets and fewer than 20 employees in 1985. By the end of Rosacker’s career, the bank, which was renamed in 1993, had grown to nearly $1 billion in assets and its market area grew from the state of Minnesota to a geography extending from the Pacific Northwest to the Ohio Valley.
Prior to UBB, Rosacker started his banking career at F&M Marquette National Bank in Minneapolis for 16 years. At Marquette, he was involved in the correspondent bank credit card program, and became a division manager in charge of correspondent banking and investments, as well as a member of the senior management committee.
At the time of his retirement in April 2019, he said: “It has been a true honor of my life, to lead UBB,” Rosacker said. “There is not a better or more genuine industry in the world than community banking. At its core, it’s all about building relationships and neighbors helping neighbors succeed for a shared common goal, a stronger and better community. What I will cherish most about my time at UBB is the countless relationships I’ve formed with fellow community bank leaders and the opportunity to lead a talented organization of people focused on the success of community banks and the communities they serve. All of the current and previous UBB staff members I’ve had the privilege to work with over the past 34 years deserve a heartfelt thank you for making my job at UBB the most enjoyable and rewarding one I’ve ever had.”
In August 2018, Rosacker was recognized by the Independent Community Bankers of Minnesota with an award commemorating 50 years of service in the banking industry. The following October he accepted the first-ever Lifetime Achievement Award from BankBeat magazine in recognition of the impact he has had on UBB, its customers and the community banking industry across the country.
Rosacker has been active on numerous boards and in many organizations, including: Member of the Independent Community Bankers of America and its Board of Directors, TCM Bank Board of Directors, ICBA Bancard Board of Directors, Secretary of ICBA Executive Committee, member and Chair of ICBA Political Action Committee and Auction.
Other professional memberships and associations he has been involved with include: Past president and Board of Directors at the Bank Holding Company Association; the Electronic Check Clearing House Organization Board of Directors, the Bankers’ Bank Council Treasurer, Past Chair of ICBM and Minnesota Bankers Association. In addition, Rosacker was a faculty member of the Minnesota Commercial Lending School for two years and served on the school’s advisory board for three years.
A native of St. Paul, Minn., Rosacker is a graduate of the College of St. Thomas. Earlier he graduated from Saint Thomas Military Academy high school.
After completing school, he thought he might like to be a teacher or a coach but he turned his attention elsewhere when he discovered that seemingly everyone in college wanted to be a teacher or coach. Instead, he started his career in retail, selling men’s suits at Dayton’s. A few months into that work, he reached out to a friend at Marquette Bank who helped him land his first job in banking in 1968. Bill’s wife Pam, whom he met while working at Marquette, passed away in 2017.
Rosacker was in the credit card department and by 1969, Rosacker transferred to Marquette’s correspondent banking division, calling on banks in North Dakota and northwestern Minnesota. Rosacker called on hundreds of community bankers, saying he loved the work. His Marquette experiences proved to be the perfect preparation for his eventual role at United Bankers’ Bank.