Mark Karl, Border Bank’s Board of Directors Chairman, announced Kory Shae has been promoted to CEO of Border Bank, effective January 1, 2024. Shae replaces David Felch, who served as Chief Strategy Officer of Border Bank from 2016 to 2018, at which time he became CEO.

Under Felch’s leadership, the bank grew from eight branches with $392MM in assets, to eleven branches with $930MM in assets. In addition, the bank purchased an insurance agency to enhance the services and products provided to customers. To ensure a seamless transition, Felch will serve as Advisor to the CEO through August 31, at which time he will retire but remain serving on the bank’s Board of Directors and holding company. 

Shae earned his Bachelor of Science Degree in finance from Moorhead State University, and his Master of Business Administration from North Dakota State University. He has over twenty years of experience in the financial services industry, primarily in business banking and has served in a variety of leadership positions, most recently as Chief Banking Officer and President. 

“We are fortunate to have a talented Executive Team to draw from for our new CEO; and are looking forward to the next chapter under Kory’s leadership for continued growth of our organization. The Board of Directors extends their appreciation to Dave for his years of leadership and the culture he and his team have built. We are pleased Dave will continue to serve on the Board of Directors where his experience and banking talent can serve us into the future,” said Karl.

“I am grateful to take part in honoring the legacy, while shaping the future of Border Bank. We are committed to continuing a rich tradition of community banking and service that endures for generations to come,” said Shae. 

Shae and his wife Kristi live in Fargo, North Dakota, and have one son, Carson. Shae enjoys spending time with his family, golfing, lake time, and hunting with his son.

Border Bank was established in 1935 and has two branches in Fargo, North Dakota, and nine branches in Minnesota: Coon Rapids, Greenbush, Thief River Falls, Middle River, Badger, Roseau, Baudette, International Falls and Clearbrook. In addition, Border Bank owns Northern Ag Insurance.