Center for Family-Owned Businesses

Established by Our Family Business to Serve Your Family Business
  • Designed exclusively for family businesses.
  • Tailored resources to serve the unique needs of family business members.
  • Network with like-minded family businesses.

Join us for these upcoming events.

1 Innovation & Growth (New)

Giving to Grow: Core Values in a Family Business

Core values are what drive our daily decisions. From how we interact with others to the causes we support, everyone is motivated differently. This can also be the case for businesses.

According to thebalancecareers.com, core values are traits or qualities that represent an organization’s highest priorities, deeply-held beliefs, and are the heart of an organization.

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2 Philanthropy & Giving

The Role of Philanthropy in Family, Business, and Community

Family businesses often have deep roots in their communities. They receive many benefits from the people that surround them. With effective philanthropy, they have the opportunity to give back. Barbara Carswell, Chief Executive Officer at Youthbridge Community Foundation, Deborah Dubin, CEO & President at Philanthropy Missouri, David Frederick, Director of Client Success and Advice at First Bank, and Stacy Clay, Director of Community Affairs at First Bank, discussed the benefits of business philanthropy, how the business can be an avenue for a family’s charitable intentions, the best ways to structure charitable gifts, and opportunities to get involved in the community.

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3 Generational Success

Misconceptions of Family-Owned Businesses

The family-owned businesses of today have proven they can not only survive but thrive. From navigating labor and supply chain issues to leveraging technology to meet the needs of a socially distanced society, these companies are focused on long-term growth through entrepreneurship and consistently innovating to meet the needs of a changing world.

Still, misconceptions of family-owned businesses persist. The following are a few to keep in mind and manage against.

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1 Innovation & Growth

Growing Up in the Family Business

From being labeled the “boss’s kid” and learning the business to unique family dynamics, Michael Dierberg, fourth generation family leader, Chairman of FB Corporation, and President of First Bank, unpacked the challenges many next generation family business leaders face.

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1 Family Business Governance (New)

First Bank Family Business Symposium Josh Baron part 1

The First Bank Center For Family-Owned Businesses held a conference on building and sustaining a successful, enduring family business enterprise. Josh Baron, author of the Harvard Business Review Family Business Handbook, and co-founder of BanyanGlobal, presented his Four Room Model as a family business governance structure.

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2 Legacy

What Legacy Will Your Family Business Leave?

For family businesses, legacy can mean the succession of business and family assets from one generation to the next.  In fact, Merriam-Webster defines “legacy” as: a gift by will, especially of money or other personal property, and/or something transmitted by or received from an ancestor or predecessor or from the past. It’s a common misconception, however, that legacy only equates to financial terms in a family business model. That’s not always the case.

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3 Growth

Family Businesses and Growth: Four Pitfalls of Growing Too Fast

Growth is critical for businesses that want to gain traction and become a dominant business in their industry. Growth is often seen as a positive thing, but growing too fast can be dangerous. Joe Ambrose, Executive Director of the First Bank Center for Family-Owned Businesses, said, “While growth is an important objective to ensure success of your business, rapid short-term growth can pose many risks if your business isn’t properly prepared.” For family-owned businesses focused on longevity and multi-generational leadership, recognizing the warning signs and handling them appropriately can help ensure healthy growth in the future.

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Family Business Management Solutions

Achieving long-term success as a family business demands the right tools. Let First Bank’s tailored family business solutions help your organization achieve success now and for generations to come.

Explore First Bank in our clients' words

Roofers Mart

Roofers Mart's commitment to their clients, to their employees, and to the future of this business is a family endeavor.

Hanna Winery

Hanna Winery was started in 1985 with just 12 acres and has now grown to almost 300 acres of planted vineyards, four locations, and two tasting rooms. Learn more about First Bank’s partnership with Hanna Winery and how First Bank’s multi-generational family ownership and long-term view has helped their success.

Brinkmann Constructors

Every business has a unique start; typically a dedication to help others and a vision to innovate is a fundamental cornerstone on which to build. “So, someone suggested I start a company. I never would have thought of starting a company, but I did – and it worked out pretty well,” laughs Founder and CEO Bob Brinkmann.
Commitment to Family-Owned Businesses Michael Dierberg
Our multi-generational family history uniquely positions us to understand the needs and challenges.