The Bottom Line - Banking on Growth
Banking On Growth
No standing still: Why our growth is good news for everyone
There’s a saying in business: You’re either growing or shrinking—there’s no such thing as standing still.
Fortunately, we’re growing at Country Club Bank. And that growth is good news not just for our customers and partners, but also for the entire Kansas City metropolitan area because we believe deeply in the idea that when a bank grows the right way, its community grows with it.
Here's how.
We focus our lending activity right here at home, on borrowers -- and their collateral -- and projects based in the Kansas City metro area. Whether it’s real estate development, business expansion, or investment in infrastructure, we provide capital for the kinds of projects that directly improve our neighborhoods, strengthen our economy, and enrich the quality of life we all enjoy.
To that end, our lending portfolio has grown at a compound annual rate of 7% from 2021 through 2024, totaling more than $2 billion in new loans. Those aren't just statistics either. Those numbers represent new businesses, jobs created, homes built, and amenities added across our community.
That loan growth drives other important metrics: earnings and capital levels that fuel even more local investments. Pre-tax earnings at Country Club Bank have grown steadily over the same period, contributing to an overall pure capital increase of over 25%. That growth gives us even more capacity to lend and invest in the region, and proves that we're expanding responsibly and growing wisely. That’s real strength, and we intend to press that advantage to expand our presence, deepen our relationships, and serve even more businesses and individuals throughout the metro region.
We now manage more than $2.17 billion in assets, and our footprint of locations and team members reflects a continued commitment to stewardship, accessibility, and local service.
At Country Club Bank, we’re proud to be growing, and even prouder of what that growth means for our customers, partners, and hometown. Because when our community thrives, we all thrive.
— Brian Hoban, Chief Lending Officer, Country Club Bank, Member FDIC
Economic Insights
A reality check with room for optimism
Markets are coming off a period of outsized enthusiasm—what some might call “froth,” particularly in areas like crypto and the Magnificent Seven tech stocks.
That exuberance is now being tempered as valuations and investor sentiment normalize in the face of a less accommodating overall economic environment, jolted by new policies, spending cuts, and tighter monetary forecasts.
The broader message? A cautious Fed, increased earnings scrutiny, and a shift in investor focus from growth at all costs to fundamentals have the market transitioning from hyper-growth mode to something more balanced and, arguably, more sustainable.
The Federal Reserve has moderated its outlook for the U.S. economy in 2025. GDP growth is now expected to be at 1.7%, down from an estimate of 2.1%, indicating a more modest pace of expansion. The unemployment rate is projected to tick up slightly, from 4.1% today to 4.4%, suggesting a slight softening in the labor market.
Inflation is now expected to come in higher at 2.7% in 2025, up from the previous estimate of 2.5%. Despite these shifts, the Fed did not change its overall projection for the federal funds rate (still expecting two rate cuts in 2025). However, the range of possible rate outcomes widened for 2025 and 2026, signaling increased flexibility about the path of interest rates going forward.
That said, equity valuations remain elevated by historical standards, and uncertainty related to inflation stickiness, geopolitical tensions, and Washington, D.C. volatility is still high. In the short term, investors with upcoming cash needs should consider how much risk they’re taking. Overallocating to equities or highly volatile assets might not be prudent if they need liquidity in the next 12–24 months.
Despite short-term headwinds, long-term investing fundamentals remain solid at this point. A look back over 70+ years shows that in any rolling 5-year period, a 50/50 or 60/40 stock/bond portfolio has never produced a negative return. While such diversification of assets does not protect against all risk, including loss of principal, nor guarantee a profit, that’s a powerful reminder of the resilience of diversified investing—even through recessions, inflation spikes, and wars. Timing the market is nearly impossible, but time in the market has consistently worked.
Cautious optimism is warranted. Yes, we're seeing air come out of some overinflated pockets of the market, and yes, we’re facing a more uncertain macro backdrop than we’ve grown used to. But that’s not a signal to change fundamental strategy necessarily—it’s a signal to revisit allocation with clarity and discipline.
Bottom Line: For those needing cash soon, one may consider dialing back risk. The U.S. economy demonstrates resilience even as market volatility and policy uncertainties persist. Stay informed and vigilant, and consider a balanced approach, as always. However, remain ready to capitalize on emerging opportunities while mitigating potential risks.
— Marcus Scott, CFA, CFP®, Chief Investment Officer (CIO) for Country Club Trust Company
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, CFP® (with plaque design), and CFP® (with flame design) in the U.S., which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.
The opinions and views expressed herein are those of the author and do not necessarily reflect those of Country Club Trust Company, a division of Country Club Bank, or any affiliate thereof. Information provided is for illustrative and discussion purposes only; should not be considered a recommendation; and is subject to change. Some information provided above may be obtained from outside sources believed to be reliable, but no representation is made as to its accuracy or completeness. Please note that investments involve risk, and that past performance does not guarantee future results.
Partnership Profile
Cleanroom and air outlet innovator AJ Manufacturing grows with new markets—and capital from Country Club Bank
Rob Haake didn’t always see himself leading the family business. But today, as CEO of AJ Manufacturing, he’s at the helm of one of Kansas City’s most innovative and fastest-growing cleanroom and air outlet manufacturers.
What started as a modest operation with under $1 million in revenue is now a $40 million company with plans for even more expansion and growth in the coming years.
“My dad bought the company in 1974,” Haake said. “I worked here in high school and college, but like many kids, I left to try something different. Eventually, I came back, and it was a perfect match. My dad was the technical mind, and I brought the sales and business development side.”
The partnership and collaboration have worked well. Today, AJ Manufacturing employs more than 100 people across two Kansas City facilities. It serves customers around the globe—from the Middle East to South America to newly opened markets in Australia.
The company specializes in cleanroom and operating room ceiling systems installed in hospitals, pharmaceutical labs, and electronics manufacturers. AJ’s reputation and business are expanding rapidly in this space.
But scaling any business requires more than vision, marketing, and sales; it requires capital. That’s where Country Club Bank has made a difference.
“Country Club Bank has been a crucial part of our growth story, especially over the last five years,” said Haake. “They’ve financed our moves, helped us build a whole new factory, and supported us through multiple equipment upgrades. And now, as our ceiling system business grows, they’re helping us gear up for even more expansion.”
Beyond the numbers, the relationship is rooted in years of personal trust and shared values.
“I’ve known many of their people for years because of their commitment to the community, like Dan Teahan, Chris Thompson, and Jeff Whelan,” said Haake. “It’s comfortable when I call because I don’t feel like just another customer; they make me feel like their only customer.”
Haake also serves on the bank’s south region advisory board and has experienced Country Club Bank's operations firsthand.
“The operation runs like a Swiss watch, how they manage risk, communicate with transparency, and stay open to new ideas. It gives me total confidence in our future together,” said Haake.
That future is looking bright. AJ is actively growing its healthcare ceiling systems division and is already outgrowing its current footprint. The company is in talks to expand one key facility, adding more space and equipment to meet rising demand. New strategic partnerships are also driving higher volumes, and the team recently added two new salespeople to keep up with opportunities.
“There’s so much momentum right now,” Haake said. “We’ll need more people, more space, more support. And I know Country Club Bank will be right there with us. They’ve always believed in us—even when we were smaller—and now they’re helping us take the next leap.”
For Haake, the relationship isn’t just about banking but shared ambition and mutual respect.
“They care about our success, listen, follow through,” said Haake. “It’s good people helping each other, and that’s the partner you want in your corner.”
Mergers & Acquisitions
Kansas City's M&A landscape: CC Capital Advisors' 2024 year in review and outlook for 2025
CC Capital Advisors has released its latest "State of M&A in Kansas City" report, offering a comprehensive look at the 2024 mergers and acquisitions landscape and forecasting trends for 2025.
Now in its 20th edition, this annual report provides invaluable insights into the local M&A market, highlighting key transactions, active sectors, and emerging trends. Here are a few highlights:
- 2024 saw a more tempered uptick, influenced by persistent inflationary pressures, high interest rates, and geopolitical uncertainties. In Kansas City, 214 transactions involving local companies were recorded, a slight decrease from the previous year.
- Notable deals included UMB Financial's acquisition of Heartland Financial and First Busey Corporation's purchase of CrossFirst Bankshares.
- The Financial Institutions sector dominated activity, with significant contributions from Modern Wealth Management and Mariner Wealth Management as well.
Looking ahead to 2025, a more stable deal environment is expected, with an anticipated Fed rate cut and a shift in U.S. fiscal policies. Private equity firms are also poised to play a crucial role, facing pressure to exit long-held portfolio companies while deploying substantial existing capital.
Download the complete Report here.
Women's History Month
Celebrating Women’s History Month and Honoring our Leaders at Country Club Bank
At Country Club Bank, we believe growth and progress are powered by people, and during Women’s History Month, we’re especially proud to recognize the incredible contributions of the women leading the way within our organization and our community.
This is a time to celebrate the accomplishments of women throughout history and acknowledge the vital role they continue to play in shaping our society, businesses, and institutions. We’re fortunate to have many outstanding women across our organization who are not only making an impact in our business but also being recognized across the Kansas City region for their leadership, expertise, and service:
Suzy Hall, President of Country Club Trust Company, is a respected leader in wealth management and estate planning. Suzy’s work is deeply rooted in Kansas City’s professional and nonprofit communities, serving on the boards and committees of organizations like The Nelson-Atkins Museum of Art, Children’s Mercy Hospital, and the Kansas City Estate Planning Symposium.
Toni Walsh, our Chief Human Resources Officer, has been a driving force in cultivating a strong, values-driven culture at Country Club Bank. With over two decades in financial services, Toni has developed and led organizational development, talent acquisition, and employee engagement strategies, ensuring our people-first philosophy continues to thrive. Her leadership experience in the community includes serving on the Board of Directors for the Women's Employment Network.
Rachael Ausmus, Senior Vice President and Director of Private Banking, brings a passion for building relationships and improving systems across our bank. Recognized with the Missouri Bankers Association’s Next Gen Award in 2023, Rachael is also a dedicated community volunteer and champion for education and literacy.
Christee Highbarger, Chief Risk Officer and Chief Audit Officer, leads with integrity and precision. With over 20 years of experience in risk and compliance, Christee oversees enterprise-wide risk management functions, ensuring the bank operates with excellence and accountability at every level.
These women are a few examples of the talented leaders helping shape the future of Country Club Bank and our city. We’re proud to celebrate their accomplishments and the lasting impact they’re making at Country Club Bank, throughout Kansas City, and beyond.