Tom Geiger passes the CEO role to Bob Mathiasen
[Spicer, MN / Sioux Falls, SD] — Heritage Bank, N.A. announced today that Robert W. Mathiasen has been appointed Chief Executive Officer, effective April 1, 2026. Mathiasen, who has served as Chief Operating Officer, succeeds Tom Geiger, who will step away from day-to-day management and continue his leadership as Chairman of the Board.
Mathiasen described the appointment as both humbling and energizing, reflecting a long tradition of strong leadership at Heritage Bank across different charter eras. “I am deeply honored to carry forward the Geiger family’s philosophy of banking,” said Mathiasen. “Their commitment to relationships, entrepreneurship, and doing what’s right for customers and communities has shaped Heritage Bank for more than five decades, and it will continue to guide us into the future.”
With a 30-year career in banking, including 18 years at Heritage Bank, Mathiasen brings a unique perspective shaped by his early career in large corporate banking. That experience, he says, clarified his passion for banking. “I’ve seen what happens when customers are treated like a number,” Mathiasen noted. “A strong banker knows their customers, understanding their goals, explains how they can improve their bankability, and provides tailored solutions.”
Vision for the Future of Heritage Bank
As CEO, Mathiasen is focused on leading Heritage Bank into the future by combining relationship-driven banking with innovation. His priorities include delivering personalized financial solutions, expanding financial education for customers and communities, and leveraging technology to create customized, intuitive banking experiences. “Technology should enhance relationships, not replace them,” he said. “Used thoughtfully, it allows us to serve customers in more meaningful and flexible ways.”
Mathiasen is also proud of Heritage Bank’s launch and rapid growth of Physician Bank, the organization’s digital banking brand designed to meet the unique needs of medical professionals. “Physician Bank is a powerful example of how we can blend technology, specialization, and white-glove personal service to deliver exceptional value,” Mathiasen said. “Its early success reinforces our strategy and our belief in thoughtful innovation.”
Commitment to Community and Culture
Community involvement has been a defining element of Mathiasen’s leadership. He has served as past chair of the Willmar Lakes Area Chamber of Commerce Public Policy Committee, founder and past chair of the Highway 23 Coalition, and a member of the Minnesota Bankers Association Government Relations Council. His service also includes Rotary, the KCEO board, helping catalyze the Robbins Island Amphitheater, and founding the NEXT! young professionals’ group, and bringing Junior Achievement programming to the Willmar area. “Strong communities and strong banks grow together,” Mathiasen added. “That belief has guided my career.”
As an employee-owned (ESOP) organization, Heritage Bank’s culture is central to Mathiasen’s vision. “Our employee owners are the heart of this bank,” he said. “My goal is to make Heritage Bank the most incredible place to work, where people feel empowered, supported, and proud of the impact they make for customers and communities every day.”
Board Leadership and Organizational Continuity
Tom Geiger praised the transition, calling it a natural next chapter for the organization. “Bob has the experience, values, and leadership mindset to guide Heritage Bank forward,” Geiger said. “I have great confidence in his ability to honor our history while building the bank of the future.”
Mathiasen earned his Bachelor of Science in Finance in 1993 and his MBA in 2000 from St. Cloud State University. He resides in Sioux Falls with his wife, Linda, and has two grown daughters.
About Heritage Bank, N.A.
Founded in 1969 with the acquisition of State Bank of Holstein in Holstein, Iowa, Heritage Bank, N.A. was built on the belief that helping people succeed financially strengthens families, businesses, and communities. That mission continues today through the work of its employee owners across the country.
Helping People Succeed Financially. We see every customer as an individual and treat our customers’ businesses as our own. Our dedicated, experienced staff is there for our customers on every step of their journey.
