paBanker Magazine 2021 Q4 : simplebooklet.com

PA Bankers Association » Quarter 4, 2021 3PA Bankers STAFF DIRECTORYGeneral Number (717) 255-6900President & Chief Executive Ocer  dcampbell@pabankers.com | (717) 255-6916External RelationsExternal Relations Administrative Assistant adoyle@pabankers.com | (717) 255-6937Director, Advocacy & Government Relations ekanter@pabankers.com | (717) 255-6910Vice President, Government Relations dreisteter@pabankers.com | (717) 255-6933Federal Government Relations & General Counsel Legal Assistant lbrandt@pabankers.com | (717) 255-6936General Counsel lrynd@pabankers.com | (717) 255-6935Finance & Operations Registrar and Records Coordinator jillametrano@pabankers.com | (717) 255-6927 Receptionist and Administrative Assistant mhenry@pabankers.com | (717) 255-6900 Director, Information Technology cferraro@pabankers.com | (717) 255-6921Director of Marketing & Communications shocker@pabankers.com | (717) 255-6912 Director, Finance amoshgat@pabankers.com | (717) 255-6938 Senior Vice President, Finance & Operations mstaton@pabankers.com | (717) 255-6923 Communications & Marketing Coordinator cyoung@pabankers.com | (717) 255-6915Member Relations, Professional Development & PA Bankers Services Corporation Vice President, Professional Development jcatalano@pabankers.com | (717) 255-6939 Director, PA Bankers Services Corporation tchambers@pabankers.com | (717) 255-6928 Director, Member Relations kmcdermott@pabankers.com | (717) 255-6914 Member Relations Administrative Assistant lscott@pabankers.com | (717) 255-6903 Senior Vice President, Member Relations and Professional Development, and Managing Director, PA Bankers Services Corporation cwallett@pabankers.com | (717) 255-6913 Vice President, Business Development wwhipple@pabankers.com | (717) 255-6925 Director, Residential Schools & Meeting Operations mwisniewski@pabankers.com | (717) 255-6934magazineSTAFF  Sara E. Hocker     J. Duncan Campbell III   Jacqueline A. Catalano   TianiA.Chambers Daniel J. Reisteter Louise A. Rynd Michelle L. Staton Cynthia L. Wallett Wayne R. Whipple Courtney M. YoungPA Bankers Services Corporation Board of Directors and Ocers   Jennifer A. Poulsen  M. Theresa Fosko  J. Duncan Campbell III  Gerard A. Champi Trudy K. Everhart Scott E. Fritz Philip Freeman Thomas Graver Richard L. Greslick Karl F. Krebs Joseph Toth David E. Raven Tracy E. Watkins Dale A. Westwood Address Correspondence to: paBanker Magazine c/o Pennsylvania Bankers Association 3897 N. Front St., Harrisburg, PA 17110 Tel. (717) 255-6912 Email: shocker@pabankers.compaBanker Magazine is published four times a year by the PA Bankers Services Corporation (Services Corporation), a subsidiary of the Pennsylvania Bankers Association (PA Bankers). The Association serves Pennsylvania banks and nancialinstitutionswitheducationalprograms,member services and represents members on the state and federal level. Since 1895, PA Bankers continuouslyworkedtobethepremiernancialservicesorganizationsupportingadiversiedmembership through volunteer participation, a knowledgeablesta,stateofthearttechnologyand a commitment to excellence.paBanker Magazine istheocialpublicationof PA Bankers.EditorialThe opinions expressed in articles by authors otherthanAssociationstaandocersarethe responsibility of the authors only and not necessarily those of the PA Bankers, the Services Corporation or its members. All articles, unless otherwise notied, have been written by paBanker Magazinesta.Questionsandcommentsshouldbe addressed to the Managing Editor. PA Bankers members may reproduce any non-commercial part of this publication with verbal permission from the editor. All others must receive written permission from the editor prior to reproduction of any part of this publication. Copyright ©2003 PA Bankers Services Corporation. All Rights Reserved.Printed by: HAAS Printing CoSponsored by:

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4 » PA Bankers Association pabankers.coms my time as chair continues, I often reflect on the experiences that have molded me into the person that I am today and how those experiences act as a guide as I move forward. Specifically, I have been thinking about my time as chairman of the PA Bankers Advocacy Committee. When I began my role as second vice chair on the PA Bankers board of directors, I was asked to chair this committee, which was somewhat new at the time. I really did not fully understand the importance of advocacy until I went on a PA Bankers-sponsored trip to Washington D.C. to meet our politicians. As an active participant in PA Bankers events for years, I thought I knew what the term “advocacy” meant. I attended PA Bankers’ events, so I believed I was putting forth my best effort to advocate for my bank and our industry. As chair of our Advocacy Committee, my sense was intensified, and I quickly realized that I needed to do more and that I needed to ask my fellow bankers to assist me in my advocacy efforts. Perhaps the most important lesson for me is that anyone can be an advocate. In fact, any employee within AWe Are Our Own Best AdvocateWESLEY M. WEYMERS Executive ChairmanThe Gratz Bankyour institution can be an advocate. It just takes any of the following: • Two minutes to tweet or email your federal and state legislators; • A few seconds to write a check or contribute online to PaBPAC; • Fifteen minutes to call your legislator; • Thirty minutes to create and send a letter to your representatives in congress; • An hour to visit your legislator in his/her office; and • Two hours to host your legislator at your bank. While these are quick and straightforward ways to advocate, these efforts combine to paint a full picture of your institution’s impact on your community for your elected officials. Sharing your bank’s story and community impact with both state and federal legislators can help to shape and improve the perception of our industry by telling your story. And that is the key to advocating effectively. Although the association has various ways to assist you in your advocacy efforts, including PA Bankers Day at the State Capitol, the ABA Washington Visit, the ABA Washington Summit and the PA Bankers Contact Banker Programs, we should all have a goal of increasing advocacy within the industry. We simply cannot delegate this important responsibility to others who are less passionate than we are about the banking industry. As bankers, we must harness our collective power and deliver our message to our elected officials, to a degree that results in legislation and regulations that positively impact banks, instead of new laws that further burden banks with more reporting requirements. One of the latest nonsensical ideas came from the Treasury Department through a proposal that would require banks and other financial institutions to provide detailed information on financial account transactions of all business and personal accounts and transfers between accounts of the same owner to the IRS. This overreaching proposal would create a huge compliance burden on community banks and unnecessarily intrude into consumers’ financial lives. Bankers decided to chairman’sINSIGHTS

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PA Bankers Association » Quarter 4, 2021 5do something instead of passively accepting an idea that would be bad for consumers and the banking industry. In response to this idea, bankers across the commonwealth pulled together and, with the assistance of PA Bankers, immediately advocated against this proposal. And our voices were heard, at least for the time being, as this proposal was excluded from the most recent budget reconciliation legislation. Approximately 2,500 messages were sent to Pennsylvania members of Congress by our bankers and their customers, in opposition to this idea. I thank Congresswoman Chrissy Houlahan, who represents Pennsylvania’s 6th congressional district (Chester and southern Berks Counties) for joining 20 of her Democrat colleagues, to publicly oppose this troubling proposal. Additionally, at the state level and at the request of PA Bankers, Representative Robert Mercuri (R-Allegheny) introduced House Resolution 150, which urges Congress to reject the Biden Administration’s proposal regarding the IRS reporting requirements. And in the Senate, Senator Kristin Hill-Phillips (R-York), a member of the Banking and Insurance Committee, and Senator Camera Bartolotta (R-Washington) introduced Senate Resolution 195, which is very similar to House Resolution 150. The House and Senate passed these resolutions in November, and we are grateful for their support. But we must continue to make our voices heard on this issue. We cannot risk a reversal of the progress that we have made because we are overconfident. Our advocacy must continue. PA Bankers and its government relations committees continue to monitor legislative issues, both on the state and federal levels that may negatively impact the banking industry. While the IRS reporting proposal is the latest issue to come to the table, it is not the only one we are facing. With so many moving parts within the legislature, it can be difficult for us bankers to keep track of every bill, proposal and related issues that affect our industry. That is where the PA Bankers Association comes in. The association has a team of government relations staff members who work around-the-clock to ensure that we are represented in the legislative process. Specifically, these PA Bankers staff members represent the banking industry before the Pennsylvania Legislature, Governor's Office and various state departments and agencies, as well as before Congress and the federal regulatory agencies. I am grateful and thankful for the work that they put in every day. Additionally, the association sends out a weekly members-only e-newsletter, Advocacy & Insights, which features current advocacy priorities and recommends quick and uncomplicated ways to engage your local legislators. This is a great advocacy tool, especially for beginners. If you are interested in receiving the e-newsletter, please contact Amy Doyle. Finally, another key aspect of the association’s advocacy strategy is the Pennsylvania Bankers Public Affairs Committee (PaBPAC). PaBPAC was created in 1974 to assist individual bankers and others in organizing to ensure more effective political action, raising funds for this action, and making contributions to political candidates who support banking ideals. Today, PaBPAC still honors this primary purpose by supporting the election campaigns of selected candidates for Pennsylvania Legislature and U.S. Congress in the best interest of our members and the banking industry. Essentially, by contributing to PaBPAC*, we can support those policymakers who support pro-banking ideals. We are currently wrapping up our 2021 PaBPAC Campaign. To those of you who have already contributed to this year’s campaign, we thank you. To those who have not, it is not too late. The deadline to contribute is Dec. 31. Every dollar makes a difference in supporting our industry. Click here to contribute today. Please consider a contribution, regardless of size. Advocacy is a crucial factor in how we are able to effectively and fairly conduct business and protect our customers, and it is my desire that I can encourage all of you to participate in the association’s advocacy initiatives moving forward. We can be heard through our advocacy, and every bank employee, officer and director should be part of this critically important cause. We must be heard; we are our own best advocates. I look forward to working with you throughout this coming year and beyond, as we bolster our industry’s advocacy efforts to advance pro-banking policy issues. Thank you. *This is not a solicitation for PaBPAC Federal.

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6 » PA Bankers Association pabankers.com*The Baker Group LP is the sole authorized distributor for the products and services developed and provided by The Baker Group Software Solutions, Inc.Oklahoma City, OK | Atlanta, GA | Austin, TXDallas, TX | Indianapolis, IN | Long Island, NYSalt Lake City, UT | Springﬁeld, ILRyan@GoBaker.comwww.GoBaker.com800.937.2257Member: FINRA and SIPCThe Baker GroupIs Here to HelpAs American ﬁnancial institutions—along with the rest of the world—face unprecedented times, The Baker Group is ready with tools and services to help maximize the performance of your institution.That’s why we’re oering new clients our Software Solutions* service package for a six-month free trial. Not only will you have access to our latest market research and insight from our Financial Strategies Group, you’ll be included in all of our webinars. There you’ll hear the latest on how COVID-19 could impact your institution and its investment portfolio.Baker’s Software Solutions Service Package Includes:Asset/Liability Analysis – Interest Rate Risk Monitor (IRRM®)Your management team will ﬁnd that The Baker Group’s quarterly review of the loan and deposit information outlined in the Interest Rate Risk Monitor and Asset Liability Analysis is an eective tool in managing your risk and performance.Baker Bond Accounting® (BBA)The Baker Group will provide you with accurate, easy-to-read reports delivered electronically to you each month.Investment Analysis – Advanced Portfolio Monitor (APM®)The Advanced Portfolio Monitor is a key monthly report that we utilize to help you measure, monitor, and manage the overall risk and performance of your investments.To obtain the resources you need to maximize the performance of your bank, contact Ryan Hayhurst with our Financial Strategies Group at 800.937.2257, or via email at Ryan@GoBaker.com.

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8 » PA Bankers Association pabankers.comnd just like that – we find ourselves at the end of another crazy year. When I think back to this time last year, I think about the great amount of uncertainty that we all faced. Many questions constantly swirled around our heads: Will the pandemic ever end? Will there be additional regulations? What will our industry be expected to do? One year later, some of these questions have been answered, but we still are grappling with the effects of this horrible pandemic, which has made a huge impact on our industry and association. But, in the midst of all of the adversity, the association trekked on. Although we could not convene in person for two-thirds of the year, we were hard at work in ensuring that we supported the membership through our diversity, equity and inclusion (DEI) initiatives. Our DEI Advisory Group continued to meet and further develop our association’s DEI strategies, including the creation of:•  a roadmap that lays out DEI strategies for PA Bankers' members. You can read more about this new roadmap on page 25.• a state-wide coalition that will support the local efforts and our members statewide to expand the Bank On program and offer these safe accounts to the entire unbanked/underbanked population across the state. The association recently launched a new Bank On Keystone website, which includes additional resources, news stories and partnership details. Click here to view the website today.•  the first of its kind within the Pennsylvania banking industry. The DEI Conference will take place on Feb. 27-28, 2022, at the Hershey Lodge and Convention Center. Conference attendees will learn the newest DEI strategies, including creating a sustainable inclusive culture, supplier diversity, unbanked and underserved community programs, minority-owned business funding and more. We are excited to bring this new opportunity to the membership, as it will complement the efforts of our association’s DEI strategy and the DEI Advisory Group. I encourage you all to consider attending or sending your colleagues.We also worked extremely hard behind-the-scenes to continue our efforts to find the best products and services for our membership. The Select Vendor Program is designed to provide PA Bankers' members with convenient access to a pre-screened selection of products and services. Many of the programs incorporate the benefits of aggregate buying power, direct member discounts, expense reduction and revenue enhancement components. Select Vendors are carefully chosen from a range of industries that complement the banking industry.All products and services within the Services Corp.’s Select Vendor program are subject to a rigorous selection process, receiving validation and approval from a 13-member board representing deposit groups across the membership. This board undertakes due diligence and proper vetting of third-party vendors that includes a detailed application process, independent financial review of the company, and extensive reference checks on current banking customers, among other things. In 2021 alone, we welcomed three new vendors into the program:Thank You for Another Great Yearfrom the CEO to the CEODUNCAN CAMPBELLPresident & CEO PA Bankers AssociationA

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PA Bankers Association » Quarter 4, 2021 9• Paylocity develops industry-leading, cloud-based HR and payroll solutions that empower you to drive strategic decision-making, cultivate a modern workforce propelled by innovative technology and improve employee engagement. Effectively manage your workforce with an intuitive, highly configurable solution that unifies applications.• Banzai is an interactive education platform with a focus on financial literacy. Banzai serves communities by providing unparalleled financial literacy education to schools, while providing its partners access to invaluable marketing insights and meaningful CRA opportunities. Banzai has two main offerings: the schools program and the community program (Banzai Direct).• ® KlariVis® is a cloud-based data analytics solution designed by bankers for bankers. We deliver banks' data through interactive dashboards providing immediate insight into key performance metrics that drive revenue, manage risk and streamline operations. The KlariVis® team has over 125 years of combined experience in banking systems, data analytics and reporting.The Services Corp. is proud to bring the membership the products and services that will best serve your institutions, and I encourage you to consider our full suite of Select Vendors as you think through your needs. If you have any questions about the program or our Select Vendors, please contact Wayne Whipple. Finally, once it was safe to do so, and following both state and federal guidelines, PA Bankers was able to once again welcome bankers from around the commonwealth to gather together for networking and professional development opportunities. It took quite a bit of planning to ensure the safety of our members at each of our events this fall, but it worth it to see you all again.The PA Bankers staff members are already planning for our 2022 events. We have a full schedule planned throughout the year. In addition to the DEI Conference mentioned above, you can expect the return of some of our biggest events this spring, including:• (beginning Feb. 2-3, 2022, PA Bankers Training Room): Through the PA Bankers Leadership Institute, participants go “behind the curtain” with Dr. Linda Eagle and Dennis Budinich to examine the success that comes from a strong organizational culture and assess how it relates to performance, leadership, engagement and communication to enhance the bank’s bottom line. This program provides invaluable experience that can truly enhance the leadership skills and qualities of attendees. Don’t believe me? See what past attendees have to say about the program here.• (March 13-14, 2022, Hershey Lodge & Convention Center): The Women in Banking Conference offers women in Pennsylvania’s banking industry the opportunity to gather for networking, recognition and professional development tailored to strengthen and deepen their involvement in the industry, community and the association. As PA Bankers’ biggest conference, this event features top-notch industry presenters and welcomes hundreds of bankers each year.• (April 5, 2022, Hershey Country Club): This event, co-hosted by the PA Chamber Educational Foundation, brings together some of the nation's most respected economic forecasters, successful leaders in organizational culture and team building, and those protecting against global threats to U.S. businesses. This program is designed to provide insights that will help executives understand the influences on today's economy to be able to plan for the future. • (May 12-15, 2022, The Phoenician, A Luxury Collection Resort, Scottsdale, Az.): Experience four days packed with dynamic speakers, lively discussions about the banking industry, inspirational programs, fine dining, entertainment, community service and more at the PA Bankers 2022 Convention.In closing, as we begin to celebrate the holidays and think about our plans and goals for 2022, it is hard to believe that we are closing out another year.On behalf of all of us here at PA Bankers, I want to say thank you for your passionate dedication to your customers, communities, the economy, the industry and the association, again this year. We could not function without your support, and we look forward to another successful year in 2022, as together we are making a difference.Happy Holidays!

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10 » PA Bankers Association pabankers.com10 TIPS for Writing Letters to Your Elected OfficialstenONpageTEN“Now, with the combined buying power of dozens of banks, we can keep costs relatively stable, even when we have experienced a year with higher claims.”M. Theresa SchwartzerExecutive Vice President, Chief Human Resources OcerUnivest Corporation of PAA unique health care alternative for nancial institutions and aliate members of the PA Bankers Association.Benets of Self-Funding with Bank Health Care Consortium of PAThe Bank Health Care Consortium of PA (BHCCPA) oers employee benets that provide you with strategic tools your organization can utilize to develop, retain and reward those who serve your institution and customers.Bank Health Care ConsortiumStand Alone Self-FundingFully-Insured Funding43 Groups | 6,000+ Enrolled | $93m Total FundingL.R. Webber Brad Webber, Marketing Manager814.317.4186 | bwebber@lrwebber.comThe Benecon Group Claudia Burchstead, Senior Sales Director717.723.4624 | cburchstead@benecon.comPA Bankers Services Corporation Wayne Whipple, VP, Business Development 717.255.6925 | wwhipple@pabankers.comGuaranteed annual premium for the plan yearLower carrier administration costOnly pay your actual claims plus xed expensesGreater exibility in plan design & claim eligibilityEliminate PPACA premium taxes and federal benet mandatesStop-loss renewals based on actual projections not loss ratioNo lasering at renewal or late discovery of submission claimsMember manages all claim fund surplusesEnables mid-market employers (30+ employees) the safest method to self-fund their benet plan  In the address block, address them as “The Honorable First and Last Name.” In the greeting, address them as “Senator/Congressman, Representative Last Name”.  Why are you advocating for this issue? Is it work-related or personal?   “I am writing to you today in support of HB1234, which allows [explain what the bill does]…”   Are you a constituent? Do you work in their district? Do you go to the same church?  If you have numerical data, add it to solidify your point.   If your letter is lengthy, offset important content in the middle by using bold or italics or even use bullets.  Be sure to give them a phone number or email address that they can use to contact you for more information.    If you do not agree with their position on an issue, be respectful of their opinion.

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PA Bankers Association » Quarter 4, 2021 11“Now, with the combined buying power of dozens of banks, we can keep costs relatively stable, even when we have experienced a year with higher claims.”M. Theresa SchwartzerExecutive Vice President, Chief Human Resources OcerUnivest Corporation of PAA unique health care alternative for nancial institutions and aliate members of the PA Bankers Association.Benets of Self-Funding with Bank Health Care Consortium of PAThe Bank Health Care Consortium of PA (BHCCPA) oers employee benets that provide you with strategic tools your organization can utilize to develop, retain and reward those who serve your institution and customers.Bank Health Care ConsortiumStand Alone Self-FundingFully-Insured Funding43 Groups | 6,000+ Enrolled | $93m Total FundingL.R. Webber Brad Webber, Marketing Manager814.317.4186 | bwebber@lrwebber.comThe Benecon Group Claudia Burchstead, Senior Sales Director717.723.4624 | cburchstead@benecon.comPA Bankers Services Corporation Wayne Whipple, VP, Business Development 717.255.6925 | wwhipple@pabankers.comGuaranteed annual premium for the plan yearLower carrier administration costOnly pay your actual claims plus xed expensesGreater exibility in plan design & claim eligibilityEliminate PPACA premium taxes and federal benet mandatesStop-loss renewals based on actual projections not loss ratioNo lasering at renewal or late discovery of submission claimsMember manages all claim fund surplusesEnables mid-market employers (30+ employees) the safest method to self-fund their benet plan

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12 » PA Bankers Association pabankers.comF&M Trust donated $10,000 to Waynesboro Community and Human Services (WCHS).The contribution will allow WCHS to continue to provide a central location for the provision and coordination of a wide variety of human services needed by low-income residents of the Waynesboro Area and Greencastle-Antrim school districts.communityCORNERF&MTrustdonated$5,000toQuincyVillage. The senior living community offers independent living, at-home services for in-home support, personal care, skilled nursing and rehabilitation, and senior housing options.ThedonationallowsQuincyVillageto reach its fundraising goal for its Village Terrace Campaign.F&M Trust made donations to a pair of Cumberland County human services organizations as part of its ongoing COVID-19 relief efforts.The bank contributed $10,000 to Project SHARE and $5,000 to Community Cares to assist their programs in Carlisle and neighboring communities.

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PA Bankers Association » Quarter 4, 2021 13HNB donated $2,500 to the missions of the Women’s Resource Center. The funds will support their Safe Dates Program.HNB designated $5,000 of their approved allotment to the Northern Tier Industry & Education Consortium. The funds will support educational programs for area youth.The $4,250 donation will support funding for 27 Class II Fire Service Safety Harnesses. ............................................................................................................................................................................................................... ........................................................................................................................................................... 7 ..........................................................................................................................................  ...................................................................................................................................................................................................  ............................................................................................................................................................................................. 63 ..................................................................................................................................................................................... .......................................................................................................................................................................................................................43 ..................................................................................................................................  ............................................................................................................................................................................................ 46 .................................................................................................................................................................................................................... 49 ............................................................................................................................................................................................................ .........................................................................................................................................................................................  .................................................................................................................................................................................................. 6 ..................................................................................................................................................................................................................................................................................47 ........................................................................................................................................................................adINDEX

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14 » PA Bankers Association pabankers.comcommunityCORNERThe Gratz Bank and its division LINKBANK, is a community-focused bank that started The LINK Foundation with a focus on positively impacting lives and strengthening the communities it serves. Through the foundation, they have been able to partner with 17 local nonprofit organizations, providing $175,000 in grants since 2020.  Orrstown Bank presented Junior Achievement of South Central Pennsylvania with a $50,000 contribution to fund work-readiness and financial literacy programs for students across Orrstown Bank’s Pennsylvania footprint. PS Bank supported the Lackawanna Trail School District with a charitable contribution of $5,000. The funds will be used to buy a district-wide license for Kami, a digital learning platform tool to help educators create engaging and interactive materials in a virtual environment.

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18 » PA Bankers Association pabankers.comfeatureARTICLEPA BANKERS ore than 300 bankers, Affiliate Members, sponsors and guests traveled to the JW Marriott Marco Island Beach Resort in Marco Island, Fla. For the PA Bankers 2021 Convention on Oct. 29-Nov. 1. Throughout the event, attendees had the opportunity to network and gain industry insights from professionals specializing in diversity, equity and inclusion, Fintech and digital banking, among many other topics. On Sunday, Oct. 31, we celebrated Immediate Past Chair Brad Scovill as he gave his last remarks, and on Monday, Nov. 1, we officially welcomed Chair Wes Weymers with a pinning ceremony and his first speech as chair.General session speakers included 2021-21 ABA Chair James J. Edwards, Jr., United Bank, who gave us an update on the American Bankers Association and its initiatives; Crystal Washington, who gave a presentation on the future of work; Dr. Linda Eagle, Global Bankers Institute, who discussed the association’s diversity, equity and inclusion initiatives, including the new DEI TRACC roadmap; and Gerard Senehi, who provided a unique blend of mind-blowing mentalism paired with an inspirational outlook on life.PA Bankers would like to thank all of its convention guests and sponsors for making the journey with us, especially our Diamond sponsors, PNC and PA Bankers Services Corporation, and our Platinum sponsors, FHLBank Pittsburgh, The Baker Group, Benecon, L.R. Webber, Stevens & Lee, Griffin Financial Group, PWCampbell, C&N, The Gratz Bank, The Northumberland National Bank and First Commonwealth Bank.Wrap upWrap upPHOTOGRAPH BY CJ MARTIN PHOTOGRAPH BY CJ MARTINPHOTOGRAPH BY CJ MARTIN

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PA Bankers Association » Quarter 4, 2021 21ACBB - PA Bankers Convention Open PrizesAPPI Energy - Co-Sponsor: Continental Breakfast - Oct. 31Arnold & Porter LLP - General Session Snacks - Nov. 1Aunalytics - Everglades Airboat Excursion TourBarley Snyder - Opening CeremoniesBoenning & Scattergood, Inc. - Co-Sponsor: Continental Breakfast: - Oct. 31Burns White LLC - Printing of Convention Pocket GuideBybel Rutledge LLP - Welcome Reception EntertainmentCOCC - Attendees Pads & PensCrowe LLP - Badge Lanyards/HoldersDeluxe - General Session Snacks - Oct. 31Dixon Hughes Goodman LLP - PA Bankers ConventionOpen SnacksKlariVis - Room DropPaylocity - Happy Hour Bourbon Tasting TourPillar+Aught - Digital Confirmation KitsPiper Sandler & Co. - Co-Sponsor: Welcome ReceptionS.R. Snodgrass, P.C. - Convention Room KeysShield Compliance - Hilton ShuttleThe Kafafian Group - Staff ShirtsWolf & Company - Co-Sponsor: Welcome ReceptionPCBBPursuit CDCStradley Ronan Stevens & Young LLPUnitas Financial ServicesWorldpay from FISTHANK YOU TO OUR SPONSORSDIAMONDPLATINUMGOLDSILVERBRONZEBaker DonelsonBaker TillyBerkley Financial SpecialistsFinancial Outsourcing SolutionsHerbein | Mosteller HR SolutionsFood Bank & Sponsor in Part: Board, Past Chair & Staff Reception & DinnerConvention WiFiChair's ReceptionCo-Sponsors: Closing Session Keynote SpeakerGeneral Session Keynote SpeakerCo-Sponsors: Officer GiveawayCo-Sponsors: Beach Party EntertainmentBoard, Past Chair & Staff Reception & Dinner*Contracts received by Oct. 5, 2021.Beach Party Food & BeverageContinental Breakfast - Nov. 1Sponsor in Part: Board, Past Chair& Staff Reception & DinnerIntraFi Network Jack Henry BankingJMFA KBWNcontracts

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22 » PA Bankers Association pabankers.comfeatureARTICLEThe 2022 CSBS Community Bank Case Study Competition is Underway!The CSBS Community Bank Case Study Competition is a nationwide academic competition for undergraduate students. Through this competition, undergraduate student teams partner with local community banks to conduct original case studies on relevant topics. In addition to providing undergraduate students with an excellent opportunity to engage and gain valuable knowledge of the banking industry, the case study competition serves as a platform for community banks to tell their individual stories. It is an opportunity to build an understanding of the community bank business model and the role community banks play in local communities, and it is a mechanism for connecting academics and millennials with the community banking industry. 2022 Competition Details:• Topic: Teams will be asked to (1) analyze the banking environment over the last 10 years to identify the most signiﬁcant developments for community banks and (2) attempt to predict the most signiﬁcant changes that will impact the industry over the next 10 years. • Deadline for Statements of Interest by Faculty Advisors: Jan. 10, 2022• Deadline for Student Team Members and Community Partners to Register: Feb. 21, 2022Looking to become involved? Contact Karen McDermott, kmcdermott@pabankers.com, today.Visit csbs.org/bankcasestudy for more information.COMMUNITY BANK CASE STUDY COMPETITION WHAT PAST PARTICIPANTS ARE SAYING:“We are very honored and grateful to have partnered with Messiah University for the 2021 CSBS case study competition. We had an extremely wonderful experience with the team as they came to meetings prepared with research materials, showed great eagerness to learn and engage, and ultimately delivered an excellent write-up that provided actionable insights back to our management team. It was exciting to learn that the team under the guidance of Professor Dwayne Safer was named one of the top three teams in PA for the CSBS Community Bank Case Study Competition! This case study competition is a fantastic way for students to learn about the banking industry and its impact in our community.” – Ray Chung, LINKBANKPA Bankers Association 50 Volume 21.1 | Quarter 1SOMEONE IS MAKING MONEY ON TITLE INSURANCE. IT SHOULD BE YOU.It’s like owning your own title insurance company, only better. PA Bankers Services Corporation – along with Investors Title Insurance Company – will help you become part of a multi-bank owned title insurance agency and share in the proﬁts every time title insurance is written. To learn more, simply give us a call at (717) 255-6925 and we’ll show you how your bank can earn non-interest income from title insurance.

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24 » PA Bankers Association pabankers.comfeatureARTICLEesearch from the Federal Deposit Insurance Corporation shows that there are many reasons consumers lack a basic transaction account: not enough money for the minimum balance; distrust of financial institutions; high or unpredictable fees; or identification, credit or banking history problems. Many Americans are driven to use expensive alternative financial services that charge high fees for financial services that fail to help people get ahead. Without a checking account, families wind up paying too much for basic financial transactions and are hard pressed to build savings and assets.• Close to five percent of U.S. households (approximately 12 million adults) are “unbanked,” without a checking or savings account.• Almost 11 percent of U.S. households (approximately 24 million adults) are underbanked, meaning they still use some fringe financial services.• Nearly 34 percent of unbanked and 45 percent of underbanked households earn less than $30,000 per year.• Nationally, 48 percent of Black households and 42 percent of Hispanic households are unbanked or underbanked, compared to less than 14 percent of white households.One key challenge facing unbanked and underbanked individuals has been a lack of safe bank accounts, particularly those without overdraft. Without a bank account, people are driven to use expensive alternative financial services that charge high fees for financial services that fail to help people get ahead. Without a checking account, families wind up paying too much for basic financial transactions and are hard pressed to build savings and assets.The Cities for Financial Empowerment (CFE) Fund has worked closely with the Bank On National Advisory Board and other key stakeholders to develop the Bank On National Account Standards.Bank On certified bank accounts are intended to provide safe banking products and services to everyone and to reduce the number of underbanked and unbanked. Accounts have minimal monthly fee.While many banks may already offer accounts that meet the Bank On standards, they may not realize they qualify for a Bank On certification.Supporting Bank On certified accounts statewide is a key component of the association’s diversity, equity and Inclusion efforts. We kicked off the association’s support of Bank On certified accounts at our annual member meeting in May of this year. Our goal was to create a statewide Bank On coalition to support existing local coalitions and areas of the state not covered by an existing local effort. When we launched this effort, there were less than 10 banks offering Bank On certified accounts in Pennsylvania. There are now over 25 banks offering the accounts.Since that time, we have been working to create a statewide Bank On Coalition (Bank On Keystone Coalition) by securing partners, creating a website, etc. We are excited to announce the statewide Bank On Coalition is live, and we are joined by the following partners who are committed to reducing the number of underbanked and unbanked in the commonwealth:REnsuring everyone has access to safe banking products and services is critically important, and PA Bankers is partnering with the CFE Fund to expand the number of member banks in Pennsylvania offering certified Bank On accounts to reduce the number of unbanked and underbanked in the state. We will continue to add partner agencies and resources moving forward, and we encourage our members to visit the website for more information about offering Bank On accounts and other resources available from our partners in the community. If you have questions about the effort, please contact Michelle Staton. Bank On Keystone Coalition

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PA Bankers Association » Quarter 4, 2021 25featureARTICLEA Bankers is developing a roadmap to guide member banks throughout their Diversity, Equity and Inclusion (DEI) journey, regardless of where they are in the process. The roadmap, formally known as  outlines the various phases involved in establishing long-term sustainable change, to include assessing the current approach to DEI and what strategic steps they should take to create a diverse, equitable and inclusive organization. The process includes the steps and actions required to support an inclusive culture and the key results of each stage. Few organizations will achieve full inclusion and equity; however, the best organizations recognize this and understand that continuous improvement is in the best interest of the organization, employees and stakeholders, both internal and external. Organizations should consider their specific needs when designing a DEI strategy and plan but can benefit from using established approaches. The goal of DEI TRACC is to provide our member banks with a roadmap and tools to use at the board and executive level to determine where they are, assess themselves and work through an ongoing, lasting effort. It is scalable based on the bank size and resources they have available to support their DEI efforts.The four phases of DEI TRACC include:  – Define DEI, commit to mission, brainstorm, and research• Plan – DEI statement is established and projects to carry the initiative are set  – Initiatives/projects are implemented, and the culture fosters DEI values and actions•  – Ongoing maintenance, management and assessment drive the futureEach phase will include guidance, support, best practices, fillable forms and shared resources.DEI TRACC is being developed by PA Bankers and Dr. Linda Eagle, president and co-founder of Global Bankers Institute. Linda is a longtime supporter and speaker for the association, as well as a member of the PA Bankers DEI Advisory Group.The association will launch DEI TRACC as follows:  – PA Bankers 2021 Convention, November 2021  - DEI Conference, February 2022  – PA Bankers 2022 Convention, May 2022Part of DEI TRACC includes ongoing support for member banks through monthly/quarterly virtual roundtable discussions, as well as the ability to share best practices and ask questions through the PA Bankers website. Please stay tuned as we continue to develop this valuable tool for our member banks across the commonwealth. If you have any questions, please contact Michelle Staton.PDiversity, Equity and Inclusion Roadmap

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28 » PA Bankers Association pabankers.comgovernmentRELATIONSAt the request of PA Bankers, Representative Robert Mercuri (R-Allegheny) introduced House Resolution 150 on Oct. 21, which urges Congress to reject the Biden Administration’s proposal regarding Internal Revenue Service reporting requirements that would require financial institutions to report the total dollar amount of incoming and outgoing transactions from each customer account with gross inflows and outflows above a certain di minimus amount to the Internal Revenue Service. In the Senate, Senator Kristin Hill-Phillips (R-York), a member of the Banking and Insurance Committee, and Senator Camera Bartolotta (R-Washington) introduced Senate Resolution 195 on October 19, which is very similar to House Resolution 150.The House and Senate passed these resolutions in November, and we are grateful for their support.  Senator Pat Browne (R-Lehigh) has agreed to introduce directed trustee legislation supported by PA Bankers and the PA Joint State Government Commission’s Decedents Estates Law Advisory Committee. On Dec. 13, PA Bankers submitted testimony opposing a proposed Philadelphia City Council ordinance, introduced by Councilman Derek Green, authorizing the formation of a public bank. We continue to be actively engaged on this issue at the local level.In addition, Representative Chris Rabb (D-Phila.) has circulated a co-sponsorship memo indicating his intention to introduce state legislation to authorize the formation of a state-run public bank.The prior PA Treasurer, Joe Torsella, convened a task force that recommended legislation to enact a state-run auto IRA program for employees of private employers who do not offer a retirement program. The current Treasurer, Stacy Garrity, has requested to know our views on last session’s bill, so we reconvened our working group to make initial recommendations. We have provided those views and have requested an opportunity to meet with the Treasurer to discuss them. Rep. Pennycuick (R-Montgomery) and Rep. Mike Driscoll (D-Phila.) are introducing this legislation in December. State Government Relations Update

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PA Bankers Association » Quarter 4, 2021 29PA Bankers is forming a working group of bankers to engage on this issue and assist in the formation of policy positions.There is interest by some in the Legislature to pursue state legislation to attempt to ease barriers financial institutions face in offering cannabis banking services. PA Bankers is working with PACB and CrossState Credit Union Association on a proposal that largely models the federal Safe Banking Act. Of most interest to PA Bankers are provisions that will enable financial institutions to gain access to records of the Department of Health on medical cannabis related businesses in order to do proper AML and BSA due diligence. The draft of the proposal has been shared with the Departments of Banking and Securities and Health, and we are awaiting their reactions and comments to it. PA Bankers has been engaged with proponents of expanding PA’s commercial property assessed clean energy financing programs (C-PACE) to permit multi-family unit projects to qualify through passage of state legislation amending the 2018 statute. Senate Bill 635 was introduced by Senator John Yudichak (I-Luzerne) and is poised for a vote in the Senate. Rep. Doyle Heffley (R-Carbon) has also introduced C-PACE legislation, HB 1760, which was voted out of the House Commerce Committee on Dec. 13. PA Bankers has had some concerns with the proposal and recommended changes to it in order to not oppose the legislation.Act 24 of 2021 (HB 1348) establishes a Homeowners Assistance Grant Program to be administered by the PA Housing Finance Agency to distribute PA’s allocation for this purpose from the American Rescue Plan. HAF fund programs must comply with US Treasury guidance. PA Bankers has been in communication with PHFA to receive updates on implementation of the program, which may be later this fall or early next year.Employee Benets | Rerement & Wealth Management Benets Technology & Plan Administraon | Human Resources & Compliance www.lrwebber.com Congratulations Booker! Thank you for your leadership, wisdom and guidance for the past 32 years. We wish you, Janet and the rest of your family much happiness as you embark on the next chapter of your life! Sincerely, Your LR Webber family!

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30 » PA Bankers Association pabankers.comgovernmentRELATIONSt’s the message a CEO never wants to receive: “We’ve got your data and you need to pay up if you want it back.”Unfortunately, that message is landing in CEO inboxes increasingly often, as ransomware attacks ramp up in the U.S. In just the first six months of 2021, the Financial Crimes Enforcement Network identified $590 million in ransomware-related Suspicious Activity Reports—a 42% increase from the 2020 total of $416 million. And FinCEN reports that we could be on track to see a higher transaction value for ransomware-related SARs than we’ve seen in the past 10 years combined. Ransomware attacks—which use malware to encrypt files on a computer or mobile device and render it unusable until a ransom is paid—present companies with an unsavory dilemma: pay a ransom to a criminal actor, or lose a potentially devastating amount of data, which could seriously compromise business operations. These kinds of attacks are evolving quickly in sophistication and scope, and virtually any business could be targeted at any time. What’s perhaps most concerning is that criminal actors are increasingly targeting critical infrastructure entities, as we saw in the Colonial Pipeline incident earlier this year that caused a shutdown of a major East Coast oil provider. They’ve also begun branching out into “extortionware,” in which the hacker not only encrypts sensitive data, but then goes the extra step and threaten to publicly release it unless the institution complies with their demands. Given the potential operational and reputational consequences of these types of cyberattacks, banks need to have a plan in advance for how they’ll respond. There are a number of factors to consider. First, while most companies do choose to pay—cyber insurer Marsh McLennan reports that more than 60% of ransomware victims pay the requested ransom—it’s not always a guarantee that the encrypted data will be fully restored. In fact, one survey of more than 5,000 IT decision-makers worldwide found that about half of those who did pay a ransom only recovered 65% of their compromised data. Twenty-nine percent said they only recouped about 50%. And even if a company’s ransom hacker unlocks all the encrypted data after the ransom is paid, the company will still need to take steps to clean that data and make sure that it can’t be easily re-encrypted. On the other hand, there are also a number of good reasons not to pay a ransom. There are the societal costs to consider—paying the ransom could perpetuate attacks on other institutions or entice the hacker to hit you again for more money. Paying a ransom could also erode trust from customers and business partners, as payment could signal a lack of continuity planning and preparation. Either way, the first time you think about ransomware attacks and how to handle them should not be after your bank has fallen victim to one. To that end, ABA in October released a new Ransomware Toolkit, which provides helpful guides for protecting your bank against ransomware attacks, responding in the event of an attack and determining whether to pay a ransom. Download the toolkit at aba.com/ransomware. Ransomware represents a serious threat to all businesses. But the good news is that the financial sector is ahead of the game when it comes to cybersecurity, given the rigorous regulatory framework banks adhere to. After all, as we found in a recent ABA/Morning Consult poll, consumers overwhelmingly trust banks the most to keep their personal information safe and secure. By addressing the problem of ransomware head-on and taking prudent steps to prepare, we can help our industry maintain its reputation as the “gold standard” for data protection. To Pay or Not to Pay: Ransomware Attacks Offer an Unsavory ChoiceABOUT THE AUTHOR:  Email Rob at nichols@aba.com.

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Richard L. Graver Posthumously Receives 2021 William S. Latoff Advocacy AwardgovernmentRELATIONSt the PA Bankers 2021 Convention, PA Bankers posthumously awarded Richard Graver, chief lending officer, The Victory Bank, with the 2021 William S. Latoff Advocacy Award. The award recognizes an individual who is an active policymaker with PA Bankers, an outspoken and successful advocate for the industry and a supporter of the Pennsylvania Bankers Public Affairs Committee (PaBPAC).Throughout his tenure as a PA Bankers volunteer, Graver was an officer for the association’s Group 2 region in the greater Philadelphia area; a member of the association’s many working groups on various legislative issues; and the 2021-22 Government Relations Policy Committee chair. As the Government Relations Policy Committee chair, Graver also served as vice chair of the association’s Advocacy Committee and a 2021-22 PA Bankers board member. Graver was also active in the Tri-County Chamber of Commerce.The award honors the late William S. Latoff, former chairman and CEO of DNB First – National Association in Downingtown. Latoff was the chair of the PaBPAC Board of Directors from 2007-10, a PA Bankers Government Relations Policy Committee member, the chairman of the Nominating Advisory Committee of the Federal Reserve Bank of Philadelphia and a representative to the American Bankers Association’s BankPAC Committee. A PA Bankers Association » Quarter 4, 2021 31

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34 » PA Bankers Association pabankers.coma aheadlook  Please note: all dates and locations are subject to change.General Association PA BANKERS 2022 CONVENTION THE PHOENICIAN: A LUXURY COLLECTION RESORT SCOTTSDALE, AZ. 5/12-15DEI CONFERENCE HERSHEY LODGE & CONVENTION CENTER, HERSHEY, PA2/27-28TREASURY MANAGEMENT PERSPECTIVES SEMINAR PA BANKERS TRAINING ROOM, HARRISBURG, PA3/30-31ECONOMIC FORECAST SUMMIT HERSHEY COUNTRY CLUB, HERSHEY, PA 4/5SCHOOL OF BANKING PENN STATER CONFERENCE CENTER, STATE COLLEGE, PA6/12-16ADVANCED SCHOOL OF BANKING PENN STATER CONFERENCE CENTER, STATE COLLEGE, PA7/24-29

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38 » PA Bankers Association pabankers.comvendorARTICLESn the 12 years that have passed since the world’s first Bitcoin transaction, digital payment systems have come a long way. Crypto and digital assets such as Bitcoin, Ethereum and Ripple make the headlines almost daily and account for more than a million transactions every day.With more customers holding crypto and digital assets, banks can no longer afford to dismiss the crypto trend and must find ways to address those customers’ needs. The potential benefits extend beyond customer retention. Engaging with crypto and digital assets can provide banks with opportunities to reach out to new customers, differentiate themselves from competitors and find new sources of noninterest income.As the scope of the crypto landscape has expanded, the debate over the banking industry’s place in it has intensified. Because of its historical role as a cornerstone of the broader financial system, many industry leaders contend that the banking sector has a logical role to play in bringing order and stability to the world of crypto transactions.This contention is bolstered by the advent of stablecoins, which have values pegged to some other asset such as a fiat currency or a commodity. This feature seeks to reduce price volatility and enable more confident valuations so that stablecoins can be treated more like other intangible assets.Proponents also note that banks clearly are capable of accommodating the crypto trend — just as they adapted to credit card processing, automated clearinghouse transactions and peer-to-peer payment systems.While the broader industry sorts out its eventual role in the crypto world, individual banks face more immediate decisions about whether and how they should start accommodating crypto and digital assets. Opportunities abound — beginning with the provision of commercial banking services to companies that hold crypto assets or use them as a medium of exchange.Beyond standard account services, some banks might choose to apply their expertise in payment processing and settlements to enable digital transactions. Banks with strong custody and wealth management operations might expand those services to accommodate crypto investments. Other banks could decide to accept digital assets as loan collateral.Blockchain and Banking: Opportunities and Risks With Digital Assets

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PA Bankers Association » Quarter 4, 2021 39More specialized, technologically demanding applications could prove feasible for some banks. Possible scenarios include providing merchant processing services using crypto assets, operating crypto ATMs and managing crypto reward or cash-back programs and other decentralized finance applications.The first step is deciding which of the various opportunities to pursue. Establishing a separate department or division is usually a poor strategy. A better course is to integrate crypto and digital asset capabilities into existing business lines.Bank leadership teams clearly have an important role to play in guiding such decisions and should make sure that any venture into crypto and digital assets begins with a thorough strategic assessment. The goal is to identify the bank’s existing strengths and build in crypto components rather than forcing crypto capabilities into business lines where the bank might already be struggling.Once executives identify promising opportunities, another critical early step is determining the best methodology for developing crypto capabilities. Large banks with extensive in-house technology resources might build their own applications, but most community and regional banks might find it more feasible to work with strong technology partners, including targeted fintech companies supporting the banks’ strategic goalsRisk and compliance uncertainty are common concerns underpinning hesitation among banks when it comes to developing crypto capabilities, given that the relevant regulatory, financial reporting, auditing and tax standards are still evolving. Yet banks can successfully mitigate the uncertainty through effective strategic planning and due diligence.In addition, regulatory and advisory bodies are actively working to clarify the picture. Agencies such as the Office of the Comptroller of the Currency, the Federal Reserve Board and the Securities and Exchange Commission are crafting guidance or comment letters; financial reporting and accounting organizations are developing standards that will aid board members responsible for overseeing compliance.With fintech businesses and other competitors eager to engage with crypto-oriented customers, banks cannot ignore the potential customer retention, brand enhancement and revenue generating capabilities of crypto and digital assets. By monitoring the evolving guidance and carefully evaluating the risks and opportunities, banks can pursue a balanced approach that capitalizes on the potential benefits while remaining consistent with their established levels of risk tolerance.ABOUT THE AUTHOR:  is a partner at with more than 15 years of experience in auditing financial institutions. She specializes in working with both SEC registered and digital asset companies.ABOUT THE AUTHOR: is a principal at with more than 15 years of experience providing consulting and advisory services to the financial services industry. Specializing in regulatory compliance and supporting operationalization of sustainable financial crime, consumer compliance and enterprise risk management programs.

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40 » PA Bankers Association pabankers.comvendorARTICLESor many of you, an energy strategy that makes sense, saves you time and money, and increases efficiencies and sustainability is already on your short list of 2022 goals, whether that means re-tuning your current strategy or building one from the ground up. But let’s take a closer look at the core motivators in securing smarter energy solutions in 2022. Energy is among one of the biggest cost factors of a business, large or small, but ironically enough it’s also one that isn’t always a top priority. Re-prioritizing how your organization approaches energy management and spend is the first step, but how do you move from talking about energy strategy to executing on smarter strategies? Start by exploring your current energy costs, demand, objectives and issues so that you can make informed decisions about how to move forward. No two businesses are the same, and no two strategies are alike either, which is why a customized solution led by experts in the field is key to managing your energy needs. Did you know...Business executives in deregulated energy markets have the flexibility to create energy management strategies that align with corporate goals, budgets, and fiscal calendars?An integral component of an energy management strategy is to seek consultation regarding market timing, the procurement process, and suppliers and their contracts. Business executives that are proactive have a competitive advantage when addressing their energy supply needs. They are positioned to make more fully informed decisions that decrease costs and provide improved budget planning and forecasting.A core component of risk management is mitigating exposure to volatile energy prices that can cause budget uncertainty and operating cost increases. Effectively managing energy supply contracts yield substantial cost reductions and improved business performance. Pro Tip: Act sooner rather than later. A common misconception is on the timing of when energy supply agreements can be executed. Many executives believe they must wait until just before their current contract expires to decide what to do next. They are not aware they can begin the process much earlier, in fact, at any time during their current contract term without negotiating or harming their current contract.Favorable electricity price trends also greatly determine when executives evaluate prices and suppliers, as well as when to go the route of a consultant. The question is, do you have adequate time and knowledge to track energy price trends and compare suppliers? For a business that consumes one million kilowatt hours of electricity annually, the cost difference between supplier price quotes could be several thousand dollars annually.First things first, don’t get overwhelmed. If energy isn’t your area of expertise, that stands to reason! Start with a complimentary assessment from one of APPI Energy’s experienced Energy Consultants. Independent, unbiased, and data-driven, you can rest assured that our clients’ interests are our top priority. Their team will conduct an energy assessment and present solutions to reduce energy costs, reduce demand, and improve resiliency and sustainability to provide significant and ongoing savings. A great place to start is by contacting the PA Bankers Association endorsed energy provider, APPI Energy. To learn more about how they can assist you contact their team at info@appienergy.com, visit our website www.appienergy.com, or give us a call at 800-520-6685. Why an Energy Management Strategy Should Be a Goal for 2022ABOUT THE AUTHOR: 

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42 » PA Bankers Association pabankers.comvendorARTICLESew leadership usually takes us into the future. The Office of the Comptroller of the Currency (OCC) is reversing this trend by first taking us into the past for a bit. Seeing the June 5, 2020, final rule to modernize its Community Reinvestment Act (CRA) framework (June 2020 Rule) as a false start, the OCC has issued a proposed rule to rescind it in favor of working with the other agencies to develop a new rule. The proposed rule would replace the existing 12 CFR part 25 with a revised 12 CFR part 25 based on the 1995 Rules and reinstate 12 CFR part 195 (for savings associations). The proposed 12 CFR part 25 would be substantively identical to the 1995 rule. All definitions, performance tests and standards, and related data collection, recordkeeping, and reporting requirements would revert to those in place before the OCC issued the June 2020 Rule. Also, the rules surrounding the public file and public notice requirements would revert to those in the 1995 rule. The proposed rule applies to all national banks and all federal and state savings associations. If you would like to comment on any aspect of the proposal, you must submit those before October 29, 2021. The June 2020 Rule would remain in effect until replaced by final rules based on this proposalThe OCC recognizes that banks have relied on the June 2020 Rule to plan for their ongoing compliance with the CRA. Given the partial implementation of the June 2020 Rule, its replacement would change the regulatory framework that impacts, among other things, how examiners evaluate banks and what qualifying activities they would consider in CRA examinations. The OCC proposes a transition to replace certain aspects of the June 2020 Rule, which it summarizes in a chart on page 38 of the proposed OCC Releases Proposal to Rescind CRA Final Rule After a False StartN

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PA Bankers Association » Quarter 4, 2021 43ABOUT THE AUTHOR: serves as Associate General Counsel forHe holds a bachelor’s degree in Political Science from the University of Memphis, a master’s degree in Political Management from the George Washington University and a law degree from the St. Mary’s University School of Law. Chris began his career working for a regional bank in Tennessee, where he developed a passion for serving customers through the banking system. In law school, Chris focused his studies on the different financial aspects of the law, including the Internal Revenue Code and Uniform Commercial Code. Chris has worked in the legal department of a federal savings bank and for the Texas Department of Banking. As one of our hotline advisors, Chris helps C/A members with a wide range of regulatory and compliance questions.rule, https://www.occ.gov/news-issuances/federal-register/2021/nr-occ-2021-94a.pdf. Subsequently, as part of the ongoing interagency CRA rulemaking, the OCC would propose a joint revised CRA rule to replace the rules in this proposal. Following publication of any final rules regarding this proposal, banks would have a minimum of 30 days before they would be required to comply with most of the provisions described in the proposed rule. Therefore, the OCC is considering an effective date of January 1, 2022, for any final rules, provided they are published by December 1, 2021.Banks that changed type based on the asset threshold adjustments in the June 2020 Rule are subject to different performance standards for activities conducted on or after October 1, 2020. Also, former "large banks" that became "intermediate banks" under the June 2020 Rule were no longer required to collect data for calendar years 2021 onward and report data for calendar years 2022 onward. Many of these banks will transition back to their prior bank type based on the proposed asset-size thresholds. Consistent with its historical practices, if the proposed rules take effect on January 1, 2022, the OCC would require newly-classified large banks to begin collecting data on January 1, 2023, and reporting required and optional data the following year. The OCC will not provide banks transitioning from small banks to Intermediate Small Banks (ISB) to transition to the ISB performance standards. However, the OCC would consider the change in bank type as part of the bank's performance context when evaluating the bank's CRA performance.The OCC proposes that OCC-regulated banks would receive consideration in their CRA examinations for activities that met the qualifying activities criteria or definitions that were in effect when the bank conducted those activities. The OCC will maintain the illustrative list of qualifying activities on its website to help banks determine whether the activities they performed while the June 2020 Rule was in effect are eligible for CRA consideration. However, activities included on the illustrative list may not receive consideration if conducted after the effective date of the final rules.The June 2020 Rule changed the public file requirements by reducing the information required in the public file and changing the requirements for how an OCC-regulated bank makes the public file available to the public, including permitting these banks to make the public file available solely on their websites. Under the proposed rules, banks would need to include additional information in their public file and make the file available at their main office. Interstate banks must make their public file available at one branch in each state and more limited information at each branch. Since the proposed rules would impose additional public file content and availability requirements, the OCC expects to provide in the final rule that banks would comply with these requirements no later than three months after the final rule's effective date.The June 2020 Rule permitted banks to include target market assessment areas when requesting approval for a strategic plan. The OCC proposes maintaining any strategic plans approved by the OCC under the June 2020 Rule and would not require these banks to amend their strategic plans.

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44 » PA Bankers Association pabankers.comvendorARTICLES020 was a year of challenges in many aspects of life, business, and the economy. The start of 2021 brought a close to a tumultuous year and opened the door to a year of economic recovery and a hope for more normal times. In March 2020, the banking industry was rocked when the Fed funds rate was cut down to zero at an unprecedented speed and Treasury yields tumbled to all-time lows. Additionally, the massive influx of stimulus related deposits that flowed into the banking system greatly changed the size and structure of balance sheets. As a former bank examiner, I am taking a chapter from my previous regulatory career by looking at the banking industry as it relates to the Uniform Financial Institutions Rating System and its six components, known as CAMELS.  A wise person once told me that capital cures a lot of ills. While this statement is very true, not properly leveraging your capital may leave some additional earnings and shareholder returns on the table. Before the pandemic hit, leverage ratios were very strong with only 14 banks on the “less than well capitalized” list. For the most part, leverage ratios haven’t been stressed in the traditional sense with loan losses; however, many institutions have seen a reduction in their leverage ratios as asset growth has greatly outpaced capital growth. Additional pressure on leverage ratios could continue throughout 2021. This is likely the biggest unknown of all the components. When the COVID-19 pandemic forced many states to shut down to varying magnitudes, many businesses struggled and millions lost their jobs. As we continue the second half of 2021, the delta variant is pushing its way throughout the country, but in general, we haven’t seen massive asset quality problems materialize. Asset quality is likely to vary greatly from bank to bank and region to region. Some institutions Checking In on the Banking Industry

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PA Bankers Association » Quarter 4, 2021 45ABOUT THE AUTHOR: is Senior Vice President in the Financial Strategies Group at He joined the firm in 2015 after spending six years as a bank examiner with the Federal Deposit Insurance Corporation. Sheller holds a bachelor ’s degree in finance and a master’s degree in business administration from Oklahoma State University. He works with clients on interest rate risk management, liquidity risk management, and regulatory issues. Contact: 800-937-2257, dsheller@GoBaker.com.have more exposure to the most hard-hit industries while others have little to no exposure. We do know that extensions, deferrals, and government stimulus have propped up some businesses and kept loans from going bust. Time will tell which businesses and customers will be able to get back on their feet and which won’t. Management is easily the most subjective component of all the CAMELS components. Bank management has been extra busy with the many challenges being thrown their way due to the pandemic. Community banks have continued to shine bright, providing us a friendly reminder of just how important they are to the communities of this country. The industry was riding high in 2018 and 2019 after record years of profitability through expanding net interest margins, low provision expenses, and lower tax rates. However, zero bound short-term interest rates, combined with high levels of low earning cash liquidity, have put margins back under pressure. The average community bank has seen significant margin compression in 2020 and 2021. In 2020, many institutions were aggressive in providing for their allowance for loan losses, given the uncertainty of the economy throughout the year. Going forward, many predict low interest rates are here to stay; therefore, some level of margin compression will likely continue. Many banks are likely well reserved against future loan losses, and the absence of more near-term provision expenses will be welcomed. Higher loan-to-deposit ratios and less on-balance sheet liquidity was the consistent theme for many institutions over the last several years; however, the pandemic quickly changed that theme. A combination of massive government stimulus via direct payments and the PPP loan program, coupled with higher personal savings rates and a flight to quality, boosted the industry’s deposit base and overall liquidity picture extremely fast. Institutions are now flush with more liquidity than they have been in years and this excess liquidity doesn’t seem to be going away anytime soon. Having excess on balance sheet liquidity 18 months ago was generally a good thing as loan demand was consistently outpacing deposit growth. The pandemic has completely flipped that narrative. Excess liquidity is now the enemy with short term interest rates near zero and a lack loan demand (outside of PPP loans) plaguing the industry. Once the financial crisis sent short term rate to zero, most bank examiners tended to associate interest rate risk only if interest rates increased. However, the pandemic quickly reminded us that most banks perform better when interest rates rise. During a rising rate environment, the economy experiences growth and expansion and margins tend to expand due to stronger loan demand, higher loan and bond yields, as well as deposit costs that lag market rates. Institutions spent most of the last decade preparing their balance sheets for rising interest rates; therefore, they were not as well prepared for the pandemic-induced zero interest rate environment. Margins contracted hard and fast in 2020 and are currently at historic lows. Today, the vast majority of institutions are well positioned for rising interest rates as their stockpiles of short-term liquidity have pushed them even further asset-sensitive than before. As we find ourselves near historically low interest rates, we must remind ourselves that the risk of rates not rising is a risk not to ignore.Bank balance sheets have been dealt a tough hand with all the deposits flowing into the banking system at historically low interest rates. Community banks have once again shown their resiliency during tough times and will continue to push forward.

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46 » PA Bankers Association pabankers.comvendorARTICLESot too long ago, bank marketing activities primarily focused on three things:1. Producing campaigns to stimulate and support sales; 2. Developing bank literature and branch merchandizing; and3. Maintaining visibility in the communities served.Bank executives and the Board might rave about a “catchy” new slogan or campaign, but results were hard to anticipate much less prove. Moreover, even if the ROI became apparent, did the Board fully understand what led to its success?Today, strategic plans focus on key initiatives such as digital transformation, improving the customer experience, and building sustainable value. Competition is no longer just retail and commercial banks in the neighborhood. Not only have consumer and business buying habits and expectations changed and grown, but now banks generally earn less in terms of ROA, ROE, NIM, and other metrics. Through it all, marketing’s role has evolved from just producing campaigns to supporting (even driving) a bank’s key strategic initiatives. Therefore, a bank’s marketing agenda, priorities, allocated budget, and performance merit Board attention and consideration.What should the Board know about marketing in today’s changing world? Here are four ways marketing now supports critical management and Board objectives and delivers a higher return on investment:1. Marketing is now an integrated, not isolated, function.2. Marketing is guided by data—lots of it.3. Marketing is both an investment and a profit center.4. Marketing builds more than brand visibility. The transition from being product-centric to customer-centric requires bank-wide collaboration and buy-in. What feeds and fuels this transition are customer attitudes, perceptions, and behaviors. A key initiative such as improving customer experience requires insights into how different generations now want to access their accounts, solve problems, and explore solutions. In many cases, marketing not only participates but guides these evaluations and, ultimately, helps execute good solutions.An integrated approach also is needed to generate deposit and loan growth. Once marketing teams used seven media channels. Today there are hundreds of media channels potential prospects use to gather information, referrals, and solutions to their needs. It’s a big job to map those customer journeys, create relevant messages, and invest accordingly. Internal collaboration is a must, because any message or action inconsistency throughout the bank can mean the difference between a new account gained or lost. Like all bank functions, marketing uses data to make informed decisions. At a minimum, marketing teams review website analytics, monitor competition, review consumer trends, and build customer profiles based on whatever demographic, geographic, or psychographic information is available to them.But often one item is still elusive—cost of conversion--because marketing, sales, and revenue data aren’t fully integrated. An integrated technology “stack” is essential to understand the flow of a lead from start to finish so What Boards of Directors Need to Know About Bank Marketing in Today’s WorldN

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PA Bankers Association » Quarter 4, 2021 47that resources are invested at the most critical decision points along that journey. This missing piece also affects decisions on media investments, a large percentage of marketing budgets. For instance, digital media reports on “likes and clicks” help marketing teams select good, better, and best media channels. But without timely conversion data, it’s hard to discern which media channels merit more dollars because they deliver the highest sales results.Much of a marketing team’s effectiveness depends on what technology tools are available to them, and how the data collected is interpreted and applied. Without access to marketing technologies such as media monitoring tools, it’s easy to miss subtle changes in consumer behaviors, new competitors, or even negative comments posted on social media. Both marketing and IT are essential in today’s banking world. More is accomplished when these functions are aligned, integrated, and not competing for much needed resources.In recent years, the role of a bank website has shifted from just providing product and service options to serving as a virtual customer storefront and a direct banking channel. For an increasing number of customers, bank websites are the preferred choice for contacts and transaction—their 24/7 “bank office.” Managing and maintaining this profit center takes one set of skills. Increasing traffic involves additional tactics, tools, messaging, and media investment. Both are worth the Board’s time, attention, and financial support.Bank websites also are a hub for public, shareholder, and media information. Each expect a bank’s website to be easy to use, enable them to accomplish what they want to do, and deliver a personalized and positive experience. Content must be relevant, accurate, and current—not only to rank well on search engines, but to provide useful knowledge and tools that help them solve problems. Managing content and maintaining site efficiency are critical to ensuring digital and other marketing campaigns are successful. With the proper technology in place, website analytics can be combined with digital, direct mail, and drip campaign data, resulting in dashboards that show all these marketing efforts together to demonstrate results and improve decision-making. New customer/prospect expectations and declining revenue have compelled many banks to seriously look at the purpose behind their organization, the value they deliver, and the type of relationship they want to have with their customers and community. This process needs the marketing team’s insights and guidance—because the final decisions management and the Board make impact their ability to build brand visibility, equity, and reputation.Important questions marketing teams can help management and the Board address include:• Is your bank brand relevant to the people you serve today, but also those you want to serve tomorrow? • What brand equity have you built with your customers and your community? • What new expectations do people have around your bank’s responsibility to promote social justice, diversity, inclusion, and environmental sustainability?• How will the bank demonstrate the values it stands for as much as the value it delivers? As bank’s evaluate and invest in new technology and revenue streams, every strategy and expenditure must be viewed in the context of today’s financial services world. Marketing’s role and contribution have a higher impact than ever before, both internally and externally. Therefore, how executive management and the Board evaluate their marketing strategy, govern the expenditures to support the strategy, and set desired goals, including ROI, is of utmost importance. ABOUT THE AUTHORS:  EVP, Financial Strategy, and Owner & Brand Strategist.

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48 » PA Bankers Association pabankers.comoes the phrase “AI in risk and compliance management" conjure up images of robots taking over the world—or worse yet, replacing you at work?From the Terminator to Hal in 2001: A Space Odyssey (and a spate of other films like Blade Runner and The Matrix), countless films have imagined a world where artificial intelligence has become so advanced that it becomes a threat to mankind’s very existence.The good news is that the AI that Hollywood has imagined up is just that—imaginary. Comparing the AI capabilities of The Terminator to what AI can do today is like comparing the work of Indiana Jones with real-life archeologists. It’s all fantasy.The reality is that AI isn’t going to replace you, but it will make you smarter.There are things that humans are really good at. There are things that artificial intelligence is really good at. These are not necessarily the same things.Computers are amazing when it comes to crunching massive amounts of data. They are able to find patterns and trends that a human with finite time is unlikely to find. For example, NASA used a network of 80 personal computers equipped with AI to develop a super powerful and small antenna for space satellites. They fed it a few basic antenna designs and gave it performance parameters for the antenna. In just 10 hours the computers were able to assess and adapt millions of iterations to find a design with peak performance. The design it settled on wasn’t sleek and streamlined. It looked like a couple untwisted paper clips. It’s a very random-looking yet specific design a human would have taken much longer to develop—if we even thought of it at all.But computers don’t win at everything.Humans are superior when it comes to interpreting data to understand the why behind the trends. Even a 5-year-old can make connections that a machine can’t. Consider this passage:Sally got a new cat. The cat was outside. Sally put on her shoes.Why did Sally put on her shoes? You probably inferred that Sally wanted to go outside to be with her cat. That’s a basic assumption, yet one that a machine can’t easily make. It’s a job for humans.The future of banking will require some combination of humans and machines working together. A smart machine can only get you so far, but a smart machine working in tandem with a smart human becomes smarter than either of them working alone.Consider AI in risk management. A machine might be able to tell you that it is 80 percent confident in a credit score. A human risk manager may decide it’s only comfortable using the AI assessment when theconfidence score is 92 percent or more. If the score is between 50 percent and 92 percent it will go to a human for review. Scores below 50 percent will be denied.In this scenario, the slam dunk decisions will be made by a machine, freeing up employees to focus on decisions that require greater analysis and understanding. Both the machine and the human are deployed in a way that makes the most of their innate talents.Artificial Intelligence Won’t Replace You But It Will Make You SmartervendorARTICLES

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PA Bankers Association » Quarter 4, 2021 49AI is poised to play a greater role in banking in the future. Here are just a few examples of where AI could have a measurable impact on FIs, getting work done faster and more efficiently than ever before.Complaint management. Complaint management involves a lot of legwork for staff. Complaints come in across a variety of channels, including calls, emails, tweets and Yelp reviews. Each of these complaints needs to be reviewed and the FI must determine what regulations, rules, or laws apply to each complaint. An FI is then required to respond to the complaint. This is especially true when it comes to consumer complaints, where depending on the type of product, complaint, and channel used to report it can create a specific timeline for a response.AI should make quick work of complaint management in the future. AI will be able to use the rules your FI provides to identify and assess complaints and grow more sophisticated as it gets more data. It will be able to cross reference policies and procedures in milliseconds, letting humans know what complaints require what types of action.It might even be able to respond to complaints, using natural language processing (NLP), an area of machine learning that deals with speech, text, translation, understanding its context, and responding.Analyzing the content and past experience, it could determine which templated response would be most appropriate. Even if it can’t answer the complaint, it would be able to rout it intelligently to the right staff member.Understanding if policies and procedures comply with regulation. AI is already used in call centers to answer basic questions. As AI becomes increasingly adept at understanding questions, it could help us understand if a policy meets both the spirit and letter of a regulation.Better risk and credit decisions. Alternative data, including information gleaned from social networking and comparing peer behavior, is already in use today. These are only going to grow more sophisticated as different troves of data are connected. This newly combined data can be used to train AIs and improve their algorithms. Machines will be able to uncover some really interesting relationships. Maybe we’ll find out that people who wake up 6:30 a.m. in the morning are more likely to pay their bills on time.As AI becomes more advanced and offers more opportunities, financial institutions should be thinking about how AI can help their operations and what they should be doing be prepare. That includes:Assessing the risks and benefits of AI. FIs can choose not to embrace AI and keep doing things the way they are. Avoiding AI removes the risk of new and evolving technologies. Keeping the status quo may end up putting your FI at a competitive disadvantage if it allows other providers to offer products and services cheaper and quicker. Being an early adopter may be a market differentiator. The only way to understand the risk and opportunities of AI is with a careful risk assessment.Finding partners and vendors able to provide these services. Most financial institutions don’t have the resources to build their own AI. They are going to want to find companies capable of doing these things for them. Vendor due diligence and vendor management rules will apply.Find new ways to connect data. Google makes its AI technologies freely available, but there’s one thingit jealously guards and won’t share: its data. Data is the fuel that makes AI learn and evolve. Your FI could purchase the most expensive, sophisticated AI available, but if you don’t have relevant data it will provide a very limited value.Much of the data at today’s FIs are siloed and segregated. Now is the time to start thinking about how your FI could centrally store and connect data from disparate departments for future AIs to analyze. There are insights to be gleaned if data can be connected.Don’t write off artificial intelligence as a sci-fi movie plot point. AI is real and an increasingly valuable business tool, especially when it comes to risk and compliance management.ABOUT THE AUTHOR: is the founder and CEO of a leading provider of risk and compliance management solutions, and the author of The Upside of Risk: Turning Complex Burdens into Strategic Advantages at Financial Institutions. His extensive background in legal and regulatory matters has afforded him unique insights into solving operational risk management challenges and drives Ncontracts’ mission to efficiently and effectively manage operational risk.

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50 » PA Bankers Association pabankers.comBANKERS ALLIANCE*A Family of Bank Compliance ServicesThat Includes Compliance Alliance,Review Alliance andVirtual Compliance OfficerWayne Whipple, (717) 255-6925wwhipple@pabankers.com  PA Bankers Members *Vendors provide products and services to both financial institution members and Affiliate Members.ABA INSURANCE SERVICES*Bond, D&O, Cyber Insurance, andEmployment Practices LiabilityPatricia Williams, (216) 220-1280pwilliams@abais.comACCUME PARTNERS*Outsourced Internal Auditingand Risk Management ServicesNicole Lloyd, (717) 903-3142nlloyd@accumepartners.comANDERSON GROUP*Integrated Marketing andCommunications andBusiness IntelligenceRay Melcher, (610) 678-1506rmelcher@thinkanderson.comAPPI ENERGY*Electricity and NaturalGas Procurement Services, UtilitiesManagement PlatformMargo Madden, (667) 330-1239mmadden@appienergy.comEVOLV*Merchant Processing, Search EngineOptimization, Website Design and SocialMedia ManagementDanielle Lausch, (717) 892-8988dlausch@apsolutions.netBANZAI!*Interactive, Award-Winning CourseTeaching Students Real-WorldFinance, No Upfront CostJake Finlinson, (214) 417-9426jake@teachbanzai.comBITS*Managed Service Provider for Voiceand Data CommunicationChristian Ericson, (973) 474-1828christian.ericson@bitsnetwork.comCOMMONWEALTH CHARITABLEMANAGEMENT*Application and Administrationof EITC ProgramsCristine Clayton, (570) 278-3800cclayton@commonwealthcharitable.orgTHE BAKER GROUPAsset/Liability ManagementSoftware and ServicesCharles Amis, (405) 415-7231Charlie@gobaker.comBANK HEALTH CARECONSORTIUM OF PA*43 Banks Received Credits inSurplus of Over $16.7 Million in2020 With an AverageNet Funding Increase in Single Digits.Wayne Whipple, (717) 255-6925wwhipple@pabankers.comBANKTALENTHQ*Diversity is Essential -Find Talent in all the Right PlacesWayne Whipple (717) 255-6925wwhipple@pabankers.com

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PA Bankers Association » Quarter 4, 2021 51PAYLOCITY*HCM Solutions andEngagement SoftwareLisa DeJoy, (717) 303-7663ldejoy@paylocity.comTHE FULCRUM GROUPINTERNATIONAL, INC.*Reviewing, Re-Negotiating andBidding Check Printing RelationshipTed Amon, (770) 736-5787ted@thefulcrumgroupintl.comNFP EXECUTIVE BENEFITS*BOLI, Executive Compensationand Long-Term CareDavid Shoemaker, CPA/PFS, CFP®(901) 754-4924david.shoemaker@nfp.comDEALERTRACK COLLATERALMANAGEMENT SERVICES, INC.Electronic Lien and Title ProgramWayne Whipple, (717) 255-6925wwhipple@pabankers.comVendor selections and recommendations are made in accordance with PA Bankers Services Corporation’s stated mission. It is believed that the promoted products and services merit strong consideration by PA Bankers member banks. PA Bankers Services Corporation due diligence and selection criteria should not be construed as a guarantee, as the ultimate appropriateness may vary from bank to bank. In addition, member banks are encouraged to conduct their own due diligence reviews of recommended vendors. Remuneration received by PA Bankers Services Corporation is utilized in-part to support the PA Bankers Association through contracted agreements, corporate sponsorships and overhead coverage. This financial support expands resources and strengthens the services and programs of the PA Bankers Association.CORNERSTONE ADVISORS*Core, Debit EFT, Card Program, LoanOrigination, Bill Pay, Mobile Banking &ATM Contract NegotiationJennifer Wagner, (480) 425-5204jwagner@crnrstone.comGRADIENT CYBER*Automated CAT Tool & DigitalForensic Investigation, NetworkConsensus CybersecurityChris Warman, (412) 600-7860cwarmanjr@gradientcyber.comNCONTRACTS*Integrated Compliance,Vendor and Risk ManagementMichael Harrison (888) 370-5552Michael.Harrison@ncontracts.comDELUXE CORPORATION*Check ProgramTodd Wroblewski, (724) 625-5599todd.wroblewski@deluxe.comGLOBALVISION SYSTEMS, INC.Anti-Money LaunderingCatherine Lew(818) 998-7851 x128clew@gv-systems.comINVESTORS TITLEINSURANCE COMPANYMulti-Bank Owned TitleInsurance ProgramKaren Barnett, (419) 577-5900kbarnett@invtitle.comTHE KAFAFIAN GROUPPerformance MeasurementRobert E. Kafafian(973) 299-0300 x106rkafafian@kafafiangroup.comKEYSTATE CAPTIVE MANAGEMENTCaptive Management andInvestment Portfolio ServicesBrian Amend, (302) 425-5158bamend@key-state.comL.R. WEBBER*Multiple Medical, Drug, Dental &Vision Options and EB SolutionsBrad Webber, (814) 695-8066bwebber@lrwebber.comONE POINT*Outsourced Internal Purchasing, OfficeSupplies, Inventory Control and IPAddress Marketing/SalesPat McMahon, (570) 207-5107pmcmahon@opoffice.comPWCAMPBELL*Planning, Design Coordinationand Construction ManagementErin Campbell, (800) 253-7430erin.campbell@pwcampbell.comKLARIVIS*Data Analytics Solution Designed by Bankers for BankersAmber Robinson, (603) 860-3162amberrobinson@klarivis.comCRA PARTNERSReceive High-Yielding CRA CreditTerry B. Rooker, (901) 529-4781terry.rooker@SHCPFoundation.org

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