Case Study
Playing the Long Game to Generate Compounding Results and Impact
At a Glance
In 2006, First United partnered with Stagen to assess its organizational and leadership capabilities, aiming to unlock strategies for growth. From the outset, CEO, Greg Massey set the context for the work to be done in an initial 25-year time horizon. During the first five years, a strong foundation was established by defining corporate values and purpose, and developing a stakeholder model. Over the next decade, First United’s purpose to inspire and empower others to spend life wisely took root and became deeply embedded across their stakeholder community. Grounded in a commitment to the long game, the company has achieved compounding results and a tenfold increase in assets—from $1.6 billion in 2006 to more than $16 billion by 2024—and they are just getting started.
Discover
The Challenge
At the start of the engagement, First United had already established itself as a high performing regional bank led by a veteran team of loyal executives. Scaling the organization while maintaining community bank autonomy and customer responsiveness was a critical challenge. Additionally, they were experiencing organizational design issues, talent gaps, succession questions, and had a need to develop an internal organizational development team. Most critical was the need to create a compelling vision for change that would engage the hearts and minds of key leaders at the corporate office and in the field.
Design
The Intervention
Over the course of 18 years, Stagen and First United have collaborated on multiple interventions spanning two major S-curve reinventions. The initial focus was to establish a core set of corporate values, define the organization’s purpose, and adopt a stakeholder-centric model. These foundational elements were woven into the culture through multi-year leadership development programs and a steadfast commitment from the executive team—evident in overnight retreats, trust-building, and learning how to “work on” the business together. Subsequent interventions included the retirement of longstanding executives, strategic recruitment and onboarding of external talent, and an overall elevation of people, systems, and processes. Eventually, the capacity was in place to extend interventional programming into local community stakeholders served by brick-and-mortar bank branches.
Deliver
The Results
Through an authentic dedication to people and culture and a relentless commitment to playing the long game, First United set itself apart from its competitors. Rather than focusing on short-term results, the organization embraced the long-term journey of purpose and being of service to others. As a result, First United has achieved extraordinary results and a tenfold increase in assets—from $1.6 billion in 2006 to more than $16 billion by 2024.
The Impact
First United’s commitment to purpose and profit has amplified their impact in countless ways. Through the creation of the Spend Life Wisely Academy built on the four pillars of faith, financial well-being, health, and personal growth – First United Bank is creating meaningful strategic differentiation. Most excitingly, First United Bank is well on its way to supporting the formation of 5,000 healing organizations committed to improving the overall well-being of their employees and community stakeholders.
First United’s Purpose
