Conrad Newburgh
Dawn Tollefsrud

Conrad Newburgh is retiring as executive vice president, chief credit officer, at United Bankers’ Bank, Bloomington, Minn. He will be replaced by Dawn Tollefsrud. Newburgh’s official retirement date is set for Friday, May 10.

As both senior credit officer and, more recently, chief credit officer, Conrad provided guidance and overall direction to UBB’s lending team, and was responsible for managing the aggregate risk in the bank’s loan portfolio. “Conrad’s knowledge and commitment to community banking contributed greatly to the growth and success of the UBB lending team,” said John Peterson, UBB’s interim president and CEO. “He has provided UBB with outstanding leadership and we are grateful for his service and dedication to our community bank customers.”

Newburgh came to UBB in 2008 with 30 years of experience working in commercial lending for First Bank and 16 years at Excel Bank in credit administration and lending. Since joining UBB, Conrad worked to expand services and improve credit quality. He has a bachelor’s degree in philosophy from the University of Minnesota, Minneapolis, and a master’s degree in philosophy from the Michigan State University, East Lansing. He has an MBA from the University of St. Thomas, St. Paul, Minn.

“An integral part of our culture was always, to do everything possible (within reason) to help our banks do their deals,” Newburgh said. “I am confident that Dawn will lead in a way that will continue to provide our customers with the same, high level of customer service and expertise built into our culture that continues today.”

Dawn Tollefsrud has been with UBB since 1998 and has worked side by side with Newburgh to ensure a seamless transition. Tollefsrud has a Bachelor of Science degree in business from the University of Wisconsin-River Falls.

“In selecting the next chief credit officer, Dawn was the natural choice,” Peterson said. “Her 21 years of experience at UBB has given her a vast knowledge of the correspondent lending culture as well as the ability to learn from some of the best senior managers in the industry. I know she is up to the challenge and that we can expect great things from the lending team under her leadership.”