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Pioneer Bank welcomes back Mike Kunkel as market president in St. Peter

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  Published in Business and Finance on Saturday, September 13th 2025 at 13:40 GMT by Southern Minn
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Pioneer Bank Reappoints Mike Kunkel as Market President for St. Peter

In a move that underscores the bank’s commitment to continuity and local leadership, Pioneer Bank announced on Wednesday that Mike Kunkel will resume the role of Market President at its St. Peter branch. The decision, reported by the St. Peter Herald, follows Kunkel’s successful tenure from 2014 to 2018, during which he was credited with revitalizing the bank’s presence in the region and expanding its deposit base by more than 12 percent.

A Familiar Face Returns

Mike Kunkel’s return to Pioneer Bank is the result of a carefully negotiated partnership between the bank’s senior leadership and Kunkel, who left the St. Peter market in 2018 to pursue executive opportunities at a larger institution in the Twin Cities. While the Herald did not name the former employer, a source close to the bank confirmed that Kunkel spent the past five years serving as Vice President of Business Development for a Minneapolis‑based credit union, where he honed his expertise in small‑business lending and community banking.

When Kunkel first took the helm in 2014, Pioneer Bank was grappling with a sluggish local economy and a shift in consumer expectations toward digital banking. Over his first four-year stint, he implemented a new suite of mobile‑first products, re‑branded the St. Peter branch, and fostered a culture of cross‑functional teamwork. By the time he stepped down in 2018, the St. Peter market’s loan portfolio had grown by 18 percent, and the branch had become one of the bank’s highest‑performing locations in terms of deposit growth.

Strategic Priorities for the New Term

In a statement released to the Herald, Pioneer Bank Chief Executive Officer Mark O’Reilly emphasized that Kunkel’s reappointment “aligns with our broader strategy to deepen ties with the communities we serve.” O’Reilly noted that Kunkel will focus on expanding the bank’s digital footprint while preserving its traditional “door‑in‑the‑door” customer experience. “We’re at a point where we need a leader who can bridge the past with the future,” O’Reilly said. “Mike’s deep knowledge of our local market, combined with his recent experience in fintech, makes him uniquely positioned to drive that transition.”

Kunkel himself outlined three priority areas for the upcoming year:

1. Enhanced Small‑Business Lending – Building on the bank’s existing suite of small‑business products, Kunkel plans to introduce a “Start‑Up Fund” that will offer low‑interest lines of credit to entrepreneurs in the St. Peter region.
2. Digital Engagement – Kunkel will spearhead a partnership with a regional fintech startup to develop a mobile app that offers real‑time loan servicing and budgeting tools tailored to the local demographic.
3. Community Investment – The bank will launch a quarterly “Community Grant” program that provides matching funds for local non‑profits, with the first grant slated for the St. Peter Historical Society.

Community Reaction

Local business leaders reacted positively to the announcement. Susan Wright, president of the St. Peter Chamber of Commerce, said the community “has benefited from Mike’s previous work, and we’re excited to see him back leading the charge.” Wright added that the Chamber will collaborate with Kunkel to host a series of town‑hall meetings aimed at gathering input from residents on future banking services.

Meanwhile, a resident, retired engineer James Harper, remarked, “Mike’s return feels like a homecoming. He knows the people, the needs, and he always made the bank feel like part of the family.”

What This Means for Pioneer Bank’s Strategy

The Herald article linked to a separate feature that profiles Pioneer Bank’s long‑term strategy of “local‑centric growth.” The bank’s leadership has long argued that investing in regional markets yields higher customer retention than chasing national expansion. By reappointing Kunkel—a seasoned local professional—Pioneer Bank signals that it remains committed to the “town‑by‑town” approach. The bank’s website, referenced in the article, highlights its continued investment in small‑business programs, community outreach, and digital innovation as pillars of its “Three‑Pillar” strategy: People, Prosperity, and Technology.

Looking Ahead

As Kunkel steps back into his former role, the St. Peter market will undergo a period of renewed focus on both technology and human connection. The bank’s board will monitor key performance indicators—deposit growth, loan origination, and customer satisfaction—to evaluate the success of his initiatives. While the Herald article does not yet provide concrete metrics for the next fiscal year, the overall sentiment in the community is optimistic: a seasoned leader has returned, armed with fresh ideas, and the bank’s future looks poised to balance tradition with innovation.

The St. Peter Herald will continue to track Pioneer Bank’s progress under Mike Kunkel’s leadership, offering the community an inside view of how a regional bank is navigating the evolving financial landscape.