Perham graduate Andy Schornack named to Twin Cities 40 under 40 list – Perham Focus
Perham played a significant role in Andy Schornack’s life at every stage, from birth through high school graduation to his career as CEO of Flagship Bank Minnesota in the Twin Cities.
Schornack’s successes were recently celebrated in Minneapolis/St. Paul Business Journal, which named him the 2022 “40 Under 40” winner.
The newspaper’s annual “40 Under 40” list highlights 40 people under 40 for their business successes and contributions to their communities.
“(To be honored) is definitely a great honor,” Schornack said. “They only give out 40 every year, so it’s pretty exciting to be recognized by the local business paper as well as some of my peers. It’s just a reflection of the people you surround yourself with. S’ they always support and encourage you to succeed – if you surround yourself with people you love and trust – then good results will show up.”
Schornack has surrounded himself with supportive people since a young age. He describes his hometown of Perham as close-knit, having had teachers and coaches around him who consistently offered support. Schornack played sports in high school, was involved in student council, and met people who helped him grow and excel along the way.
Her parents, well-known members of the Perham community themselves, also served as role models: her father, David Schornack, owns Perham Linen, and her mother, Denise Schornack, owns Nadine’s Ladies Fashions. Thanks to them, Schornack experienced entrepreneurship from an early age.
“(Perham) is pretty tight-knit where people support you to reach for the stars,” Schornack said. “When you get out of this environment, you can do anything. The world is your oyster.”
After graduating from Perham High School, Schornack moved to the Twin Cities to study finance and entrepreneurship. He continued his education when, in 2006, he earned a master’s degree in business administration from the University of St. Thomas. He started in the banking sector with an internship in 2005, before obtaining his master’s degree.
He continued to work in banking for several years when Flagship Bank arrived in 2013. The company was struggling, emerging from the Great Recession, so Schornack and his group of investors joined.
“I was the person to lead (Flagship),” Schornack said. “Our goal was to mitigate any risk of loss and grow it with a focus on Twin Cities businesses. We brought in people I had worked with before and focused on our customer base, which is made up of many owner-operated businesses, small businesses and real estate investors here in the Twin Cities.”
When he started at Flagship Bank, there were two locations and about $90 million in assets. Schornack wanted to clean up the business. He used the skills he learned in his previous years in banking, and now Flagship Bank has six different locations and around $320 million in assets.
While he no longer lives in Perham, Schornack returns from time to time and sees how much it is growing. His father takes him on tours, showing him expanding businesses and new apartments. In his words, the city has truly excelled.
“Perham is a great community. It takes a village to raise a child, and it’s one of those communities where everyone engages and encourages students to grow and excel, and it shows in the way which the city has grown over time,” Schornack said.
He took this philosophy with him and carried it into his successful career.
“It still takes a village to build anything,” he continued. “I’m surrounded by great people, which allowed me to participate in ’40 Under 40′.”