Hello and welcome to The River Foundation Podcast! Today Dan speaks with esteemed property guru Joe Hafley in the iconic office that he has worked out of for over twenty years. In this highly educational discussion, Joe shares his wealth of experience in banking over his forty-year career, including navigating two financial crises and helping to build First Southern and River Foundation from their very beginnings. Joe and Dan also discuss how Joe's experiences might inform how markets will turn in the future. Join us as we hear stories and advice from father, grandfather, follower of Jesus, eighth-generation Kentuckian, and proud member of the First Southern and River Foundation families for over thirty years: the man they call "Too Low Joe," Joe Hafley.
Episode Highlights:
[0:20] Dan introduces the esteemed Joe Hafley.
[1:24] Joe tells us about his family and shares the history of his deep Lincoln County background.
[3:32] We learn how Joe became connected with the First Southern family.
[4:46] "People were just not able to make ends meet." Joe describes his experiences banking in the 80s during a financial downturn.
[6:23] Joe remembers the early days of his work with First Southern after joining the company in 1990, and how the bank was able to navigate the failed savings and loans crisis.
[9:02] We learn how Joe, Doug, and the team worked in the early days of the company.
[9:34] Joe shares some of the basic tactics that he brings to his work today.
[10:40] "Things have become more competitive." We learn how technology and increased expertise have led to more competition in today's industry.
[11:36] "It was the greatest redistribution of the wealth the world has ever known." Dan and Joe discuss working through another round of credit crises in 2007 and 2008.
[13:23] Dan and Joe speculate on what major shifts the market might face in upcoming years.
[14:34] "You do it because you have to do it. You're not looking for any recognition… It's old school." Joe reflects on his favorite parts about joining the River Foundation team.
[16:02] Joe touches on how he strives to persevere through hard times, including his struggles with Parkinson's Disease and his three-week battle with COVID in 2021.
[17:52] "First of all, I think you got to put your faith in the right place." We close out this episode with Joe taking to the pulpit to share his well-earned advice.
Episode Resources:
Click here to learn more about the failed savings and loans crisis of the 80s and 90s