Anthony R Contrucci - A 5th Generation Member of the Schrage Family, Owners of the 126 Year Old Centier Bank
The Business of FamilyShow Notes
Anthony Contrucci is a proud 5th Generation member of the Schrage Family. He serves in many roles within his broader family enterprise including his role as President and Board of Director of First Bancshares, Inc. (FBS) a bank holding company located in Merrillville, Indiana. FBS’s primary operating asset is Centier Bank. Founded in 1895, the Schrage family has owned and operated the financial institution for 126 years. From humble beginnings, today they are the largest private, family-owned bank in the State of Indiana with approx. $5.8 billion in total assets, over 60 branches, and in excess of 900 associates.
As his career has evolved, he has developed a true passion for governance and operations. One of his current focuses is the codification and institutionalization of the key elements that differentiate his family’s enterprise. At its core, this speaks to their desire to remain a purpose driven enterprise focused on the preservation of their servant heart culture for generations to come. This spans the continuum of the impact that they have on their associates, their clients, and the communities that they serve overlayed by a holistic approach which incorporates environmental, social, and governance considerations.
In addition, his passion for governance and operations has evolved beyond that of traditional corporate. For the better part of the last decade, he has led their family’s formalized family governance efforts. As they continue the transition from the 4th to the 5th generation, it was paramount to Anthony, and his generation, that they build the requisite operational and governance structures to ensure success in succession not just for their generation but for generations to come. With the collective support of the 4th and 5th generations, He has allocated a considerable amount of my time establishing their family office and formalized governance structure and framework.
Although he feels blessed to be able to serve his family and family enterprise in a variety of roles, the role he is most proud of is that of a devoted husband and loving father. He is married to his best friend and soulmate, Melissa Contrucci (nee Schrage) and has been blessed with two loving children.
Standout Quotes:
"I really believe our success as a family kind of exists at the crossroad of this desire to be civically involved" - [Anthony]
"That formula of putting people before profit is how you build long term sustainable value that transcends generations" - [Anthony]
"In order to be successful in succession, you have to be intentional and you have to be strategic" - [Anthony]
"If you think about the destination, you'll never start the journey" - [Anthony]
"If you're trying to solve a problem that you can solve during your lifetime, you're thinking too small" - [Anthony]
"Success requires action" - [Anthony]
"You can't appreciate something if you don't know how hard it was to have or you didn't have to work for it" - [Anthony]
"During times of dislocation, there's always opportunity" - [Anthony]
"The most important investment I've ever made is my time in my children" - [Anthony]
"Never try to replace your net worth for your self-worth" - [Anthony]
Key Takeaways:
Anthony is a 5th generation member of the Schrage family currently serving in the role of President and Board Director of First Bank Shares, a bank holding company with a primary operating asset "Centier Bank" which was founded in 1895. They are now the largest private family-owned bank in the state of Indiana.
The Schrage family came over from Germany into the US in the 1800s, and over time the family has always been passionate about the community. This alongside the risk tolerance accounted for the success of the family because being involved with the community helped identify needs and create solutions. The name "Centier" Bank was coined intentionally to represent a century of service, the founding of the bank on Center Street, and that the bank strives to be
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