by David Chapman
Staff Writer
For Nathaniel Herring, it’s been good to be home again.
Named City President of Fifth-Third Bank last December, Herring is wrapping up his first year in the post and first year back in Jacksonville after an eight-year absence and numerous relocations for work.
In the year that’s past, establishment has been a key term. He’s spent much of his time establishing relationships with both clients and associates across the city, establishing his leadership role with the bank and establishing community roots.
“It’s been a busy, busy year,” he said, smiling.
As president, he feels a large part of his responsibility is to lead by example with an energy, excitement and enthusiasm that will rub off on associates in addition to implementing area strategies in discipline, management and growth in the local marketplace.
Like with almost all banks, though, there have been challenges.
“It’s been a tough year to be a banker,” he said. “The biggest thing has been the state of the credit climate … in terms of cash flow, it’s been different than most (years).”
Real estate values are less than what was anticipated yet not overly down. However, Herring expects values to stabilize in the coming year. The exception could be commercial properties, he said, as they could go down but not as drastically as some expect.
Through it all, though, it’s been a solid year, he said. Fifth-Third has been active in hiring new personnel, something that hasn’t been commonplace in the banking industry he pointed out, and the company is on track to grow though he couldn’t speak on specifics. Additionally, Herring is proud of the work in the community through means such as the Fifth-Third foreclosure tour bus returning to Jacksonville, financial literacy workshops the bank’s assisted with and the grants the bank have donated to several area nonprofits.
Herring attributes being able to manage in the surrounding economic conditions to entering the marketplace with somewhat of a blank slate — no existing outstanding debt from clients, as it’s a relative new entity.
It’s also why he’s spent the year laying the groundwork, building client relationships and getting Fifth-Third’s name out there — even if he always has to explain the origins of the bank’s name, he joked.
The year has also afforded Herring time to analyze the business landscape as well, and he noticed the diversification in the leadership and influential business parties around Northeast Florida — a positive step and something that wasn’t nearly as prevalent while he was growing up, he said.
Away from the business, he is happy with the decision to come home and get back to a familiar place for both he and his wife, Janister, and two boys, Nathaniel III and Christian.
“If I count the relocations I’ve had, this would be the fourth time,” he said. “I’ve made mistakes with them (relocations) before, but this time I really got it right.”
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