OWATONNA, MN, November 4, 2026 /24-7PressRelease/ -- Derek J. Skala has been recognized for achievement in financial services.

Mr. Skala currently serves as the president of Community Bank Owatonna, a role secured in 2026. In this capacity, he oversees the bank's day-to-day operations, ensuring its success and profitability while advancing growth throughout Owatonna and the surrounding region. Mr. Skala's leadership is marked by a focus on commercial banking, with particular expertise in supporting small businesses and entrepreneurs as they launch and expand their ventures. Drawing on his agricultural background, Mr. Skala is deeply committed to providing specialized financial solutions for local producers and farmers, especially those entering the industry or facing significant startup costs.

In addition to his banking career, Mr. Skala owns Reggie's Bar, a longstanding neighborhood establishment he acquired in 2023 along with its downtown Owatonna property. The bar serves as a local gathering place for sports fans and live music enthusiasts while also contributing to community benefit events and charitable causes. Additionally, Mr. Skala manages a rental property and farms 160-plus acres on the farm he grew up on.

Before his current position, Mr. Skala served from 2021 to 2026 as the vice president of credit, risk and business development at Central Farm Service in Owatonna. There, he managed the credit department and acted as an intermediary between WinField United and the cooperative, helping develop programs that offered producers lower interest rates when purchasing through the cooperative. This experience broadened Mr. Skala's expertise in agricultural finance and relationship management, preparing him for executive leadership in community banking.

Between 2018 and 2021, Mr. Skala was a business relationship manager at AgQuest Financial Services Inc., in Winthrop, Minnesota. During this period, agricultural markets faced considerable challenges due to low prices and tight cash flows. Mr. Skala helped producers navigate these difficulties by restructuring finances and developing creative solutions that allowed them to continue operating. He considers this work among his proudest professional achievements.

Among Mr. Skala's earlier roles, he served as a claim representative at North Star Mutual Insurance Company from 2014 to 2018, where he focused on property, auto, and liability insurance. Beginning his initial work as a loan processor at Wells Fargo Home Mortgage in the Greater Minneapolis-St. Paul area between 2012 and 2014.

Mr. Skala's academic foundation includes a bachelor's degree in business management with a minor in finance from St. Cloud State University, completed in 2012. The combination of formal education and practical experience has been instrumental to his success across multiple sectors of finance and agriculture. Growing up on a farm instilled discipline and resilience, while participation in athletics honed leadership skills that have proven invaluable throughout his career. Influences from family members who worked in finance further shaped Mr. Skala's professional direction, ultimately leading him to return to serving his hometown through Community Bank Owatonna.

Throughout his life, Mr. Skala has maintained strong civic involvement. He has been active with the Steele County Corn and Soybean Growers Association and is becoming involved with the Owatonna Area Chamber of Commerce and Tourism. His commitment to youth development is reflected through coaching roles with both high school and youth wrestling programs.

Additionally, Mr. Skala supports United Way, Big Brothers Big Sisters and numerous high school sports teams through donations and fundraising events hosted at Reggie's Bar. The bar frequently organizes benefits for community members experiencing hardship, reinforcing its role as a cornerstone of local support.

Mr. Skala's athletic achievements have earned him significant recognition over the years. In 2024, he was inducted into his high school's hall of fame for wrestling accomplishments, including a state championship and individual and team titles. Mr. Skala is also an inductee of the St. Cloud State University Jack Gause Wrestling Hall of Fame and was honored as Male Athlete of the Year at St. Cloud State University after winning a national title in 2012.

Looking ahead, Mr. Skala intends to maintain a diverse range of interests both professionally and personally while continuing to contribute meaningfully to Owatonna's growth and prosperity. He remains dedicated to ongoing learning, community service and making the most of time spent with family as they grow together through each new chapter of life.

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