The Missouri Banker March April 2024 : simplebooklet.com

ContentsThe Missourifacebook.com/mobankersfacebook.com/monextgenbankers@mobankers@mobankersMissouri Bankers AssociationFrom our ChairmanWho’s Gonna Fill Their Shoes?. .............................................................. 2From our President and CEOThe Loss of a Leader and the Frustration in Another .......................................... 5American Bankers Association PerspectiveThe Real Losers in the Reg II Fight ............................................................ 6Department NewsGovernment Relations: MBA’s Strength Is Our Grassroots Advocacy .............................. 8Legal: What Were They Thinking? ........................................................... . 9Compliance: Go Forth and Comply! ......................................................... 10MBA VEBA: Understanding the Beneﬁts of VEBA’s New Whole Life Insurance Policy ............. 11Views from Washington, D.C.2024 ABA Washington Summit ............................................................. 12Cover StoryFinding Your Way ......................................... 14MBA Banking Leadership Missouri guides bankers’ career growthGuest CommentaryThird-Party Service Provider Contracts — Don’t Just Accept, Negotiate ........................... 18Bank Class Action Developments: Latest Wave Targets Fees for Returned Third-Party Checks ... 20Banks Leverage Strategic Mortgage Partnerships in Housing Sector ............................ 22Around the State2024 Target Banker ......................................................................... 24 Ag Seminar ................................................................................ 26Human Resources & Marketing Conference ................................................. 27Achievements .............................................................................. 28Jackson Hataway, PublisherLori Bruce, Editor573-636-8151The Missouri Banker (USPS Number 000044, ISSN Number 0893-5637) is published six times a year by the Missouri Bankers Association, 207 E. Capitol Ave., Jefferson City, MO 65101. Second-class postage is paid at Jefferson City, Mo. Copyright© 1998 by the Missouri Bankers Association. All rights reserved. POSTMASTER: Send address changes to The Missouri Banker, P.O. Box 57, Jefferson City, MO 65102. Opinions expressed in any signed article in The Missouri Banker are those of the author and should not be construed as the viewpoint of the editors or of the Missouri Bankers Association. Neither should information provided in The Missouri Banker be construed as legal advice. The Missouri Banker does not provide legal advice, nor does it take the place of legal counsel hired by ﬁnancial institutions. While this publication makes a reasonable effort to establish the integrity of advertisers, it does not endorse advertised products or services, unless otherwise so stated. This issue may contain legislative advertising. Advertising copy is generally segregated from news and other information.Address ChangesSubmit changes for The Missouri Banker to mba@mobankers.com.CONNECT WITH MBA!For the latest news, visit mobankers.com. THE MISSOURI BANKER 1

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Who’s Gonna Fill Their Shoes?Adrian Breen, MBA Chairman The Bank of Missouri, Perryville“Who’s gonna ﬁll their shoes?” It’s a question that George Jones crooned in his song about the future of country music, and it’s one that keeps popping up in my mind a lot these days as it relates to our industry and elected ofﬁcials.MBA members just met with Missouri’s congressional delegation in Washington, D.C., during the American Bankers Association’s Washington Summit. During these visits, as well as MBA’s Washington Visit in the fall, MBA members make every attempt to meet with every member of our delegation, whether it’s the lawmakers or their staffs. One of our visits was a bit surreal, knowing that this is the last year that Congressman Blaine Luetkemeyer will be in ofﬁce. Although he technically represents Missouri’s 3rd Congressional District, Luetkemeyer has been a constant ally for our entire industry. With his knowledge and expertise of the banking industry, Luetkemeyer has sponsored legislation that promotes and strengthens economic prosperity for communities throughout our state and nation. His latest bill — the Secure Payments Act of 2024 — would require the Federal Reserve to perform a thorough economic analysis of its proposed changes to debit card interchange fees and measure its impact on consumers, including access to affordable debit accounts. He also co-led a bipartisan group of lawmakers, including Congressman Emanuel Cleaver II, in expressing their views to the Federal Reserve about how its proposal could harm ﬁnancial inclusion for low- and moderate-income consumers. On behalf of MBA, I thank Congressman Luetkemeyer and Congressman Cleaver for their leadership on this issue. I also ask that other members of our delegation show their support and encourage bankers to contact your representatives to support Luetkemeyer’s bill. In addition, urge the Federal Reserve to oppose lower rate caps on debit interchange. The Fed is accepting comments on its proposal until May 12.Luetkemeyer could take the easy route for his last year in Congress, but that’s not who he is. No, he’s still tackling the red tape and bureaucracy from regulators that From our ChairmanAs individuals begin campaigning, take the time to research their platforms and where they stand on issues. Do they truly understand the issue and the potential ramiﬁcations for their proposals?“2 mobankers.com

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Who’s Gonna Fill Their Shoes?MBA’s podcast explores topics relevant and interesting to bankers. Our fun, engaging conversations help you stay ahead of what’s happening in banking. Our Two Cents with MBA is on MBA’s website, iTunes, Apple Podcasts, Google Podcasts and Spotify.signiﬁcantly hamper the banking industry’s services to our customers and communities. His departure leaves a giant, gaping hole as he joins an increasing number of lawmakers choosing to retire or opting to forgo running for another term. As individuals announce their candidacies and begin campaigning, take the time to research their platforms and where they stand on issues. Do they truly understand the issue and the potential ramiﬁcations for their proposals? Are they pandering to the topic at the moment, hoping a 30-second soundbite generates widespread buzz through clicks, likes, mentions?Helping lawmakers and regulators understand our industry is our responsibility, and they need to hear from diverse voices in our banks. It was truly exciting to see the Missouri banking community represented by men and women spanning various departments and responsibilities during our meetings with lawmakers. This was the ﬁrst class of Banking Leadership Missouri to participate in the Washington Summit, courtesy of a stipend from The Max & Cindy Cook Endowment for Advocacy & Leadership Training. The majority of those in the class interact daily with our customers, and they know ﬁrsthand how the decisions coming from Washington affect our customers. They ﬁeld customers’ questions about a new government rule they heard on the news. They hear customers’ frustrations when procedures are changed because of another government regulation imposed on banks. These bankers see the impact of Washington decisions every day. It is vital these bankers are part of your bank’s advocacy outreach — in your communities, in Jefferson City and in Washington, D.C.In your discussions with board members and your executive teams, devote time to succession planning and where advocacy falls within your strategic and succession plans. Identify those who are champions for your bank and customers. Give them opportunities to be part of discussions and lead efforts to meet with community leaders and elected ofﬁcials. Encourage those individuals to make an MBA Target Banker visit. Bring those individuals to Washington, D.C., this fall for MBA’s visit. At home and in Washington, lawmakers need to hear from the vast, numerous voices representing our customers and communities. Our voice will continue to thrive and strengthen, but only if we commit our time and resources for the next leaders to ﬁll our shoes. Live Well. Stay Well. Bank Well! “Helping lawmakers and regulators understand our industry is our responsibility, and they need to hear from diverse voices in our banks. Devote time to succession planning and where advocacy falls within your strategic and succession plans. THE MISSOURI BANKER 3

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The Loss of a Leader and the Frustration in AnotherIn another impressive showing of grassroots industry advocacy, more than 30 Missouri bankers attended the American Bankers Association’s Washington Summit in mid-March to make their voices heard with Missouri’s congressional delegation. I’m proud to say 12 members of the Banking Leadership Missouri class joined us for the ﬁrst time, thanks to the support of The Max & Cindy Cook Endowment for Advocacy & Leadership Training. The presence of so many emerging leaders from Missouri in congressional ofﬁces made an incredible impact on the way legislators perceive our industry.Their presence also came at a critical time, given recent events within our delegation. As you all know, Congressman Blaine Luetkemeyer announced his plans to retire at the end of the year. His presence will be Jackson Hataway, President and CEO, Missouri Bankers Associationdeeply missed by bankers across Missouri, not only because of the experience and knowledge he brings to the U.S. House Financial Services Committee but also because of his unwavering commitment to ensuring good, sound policy is moved through the House.In contrast to Luetkemeyer’s stalwart support, our senior U.S. Sen. Josh Hawley recently signed onto a piece of legislation that we have opposed since its introduction two years ago. Hawley chose to co-sponsor the so-called Credit Card Competition Act with its lead sponsors, Illinois Democrat Sen. Dick Durbin and Kansas Republican Sen. Roger Marshall. This comes on the heels of a bill that Hawley himself introduced in the Senate to arbitrarily cap the annual percentage rate for credit cards. Durbin and Marshall have been relentless in their pursuit of their legislation, completely disregarding arguments from MBA, other state associations, the American Bankers Association and the Independent Community Bankers of America about the dangers of this bill to banks of all sizes. It is incredibly difﬁcult to see one of Missouri’s senators directly support anti-banking legislation. We were fortunate to have so many experienced and emerging banking leaders join us in D.C. to express the importance of the banking industry in Missouri. I’m excited to see more of our Banking Leadership Missouri participants join us as we move forward. However, the loss of one of our most seasoned congressional leaders and a shocking show of support for anti-bank policy by our senior senator remind us that we must constantly show our delegation the impact our bankers make every day in communities across the state. Otherwise, bad policy like the Durbin-Marshall bill will follow in the steps of the original Durbin amendment and will go too far too fast, and Missouri consumers will pay the price for this reckless legislation. From our President and CEOThe loss of one of our most seasoned congressional leaders and a shocking show of support for anti-bank policy by our senior senator remind us that we must constantly show our delegation the impact our bankers make every day in communities across the state. “ THE MISSOURI BANKER 5

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The Real Losers in the Reg II FightRob Nichols, President and CEO American Bankers AssociationIn 2010, the Durbin Amendment was dropped into Dodd-Frank in the dead of night, and without so much as a hearing, the government imposed restrictions and price controls on debit cards and connected checking accounts. Bankers warned that mega retailers would not pass on any savings at the checkout and that bank customers would ultimately foot the bill in lost rewards. Both predictions have proven true, but for reasons clear only to the Federal Reserve, the government is poised to double down on this misguided policy with another 30% cut in debit interchange followed by an automatic biannual adjustment. This “one-way ratchet” will continue to hack away at debit programs every two years based on data and a formula of the Fed’s choosing, without public comment. The Fed is proposing to slash the interchange rate cap from 21 cents to around 14.4 cents — and recent research estimates that this move could reduce interchange revenue for banks by $3 billion annually. That’s essentially the equivalent of the government reaching into banks’ pockets, taking money allocated to ensuring affordable, seamless, secure banking products and services and handing it over to the very largest retailers. Retailers will claim that they intend to pass those savings on to consumers. But as we’ve seen in the 13 years since the original Durbin price caps took effect, those promises ring hollow. That means that the real losers in this ﬁght will be American consumers. Not only will consumers not gain the advantage of lower prices in stores, but the Fed’s proposed changes to Regulation II will fundamentally affect the economics of what banks do — and that, in turn, affects the products and services they are able to offer their customers and communities. Banks use interchange revenue to fund free or low-cost checking accounts and other services that consumers value. Before the enactment of the Durbin amendment, for example, many banks offered debit card rewards programs — but those programs were eliminated when the revenue streams funding them dried up because of government price controls. These new proposed cuts to interchange revenue will have an even more dire consequence: they will undermine banks’ efforts to foster ﬁnancial inclusion by providing access to the free and low-cost transaction accounts that help unbanked Americans get their foot in the door — a ﬁrst but necessary step to true inclusion. Our colleagues at the CFE Fund, which oversees the Bank On initiative that ABA has proudly championed, recently wrote to the Fed to emphasize what makes the national account standards work — they were designed ABA Perspective6 mobankers.com

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to address the needs of low- and moderate-income consumers (bill pay, debit card access, ATM access). They were designed to knock down the barriers that keep so many consumers outside the banking system (minimum balance, credit checks, overdraft fees). And, importantly, they were designed to be economically sustainable for banks offering the accounts. Interchange fees play an important role in that sustainability equation. If banks do not have the revenue streams to support these and other low-cost accounts, they have two options: pass the costs on to consumers or stop offering and/or marketing the product altogether. Bank On accounts are currently offered by a growing list of banks across the country. And to ensure we can continue that momentum, ABA has been working hard on behalf of its members to elevate these concerns to policymakers. But we can’t do it alone — we need your help. With the Fed recently extending the comment deadline to May 12, ABA is calling on all bankers to share how this change in regulation will affect their bank and their customers. You can send a letter easily through ABA’s grassroots platform, SecureAmerican Opportunity.com. Banks put interchange to work funding low-cost banking services that help consumers ﬁnd their way into the regulated banking system — enabling them to take advantage of deposit insurance protections, build credit and do so many other things that can only happen with a banking relationship. If the Fed’s Reg II proposal moves ahead, the very largest retailers will pocket that surplus to pad their bottom line, and consumers won’t see a penny of it. That’s a tradeoff that leaves our country poorer. Email Rob Nichols at rnichols@aba.com. “If the Fed’s Reg II proposal moves ahead, the very largest retailers will pocket that surplus to pad their bottom line, and consumers won’t see a penny of it. That’s a tradeoff that leaves our country poorer. Calling all photographers! The Missouri Bankers Association is accepting photo submissions for its 2025 Scenes of Missouri calendar. These photos depict the beauty of the Show-Me State — from the Bootheel to the Ozarks to the northern farmland, our great cities and all points in between — anything that features Missouri scenery, historical locations, the changing seasons, city scenes, wildlife and more. You could win $100 if your photo is chosen as “Best of Show!”MBA’s calendar features photos from MBA-member bank employees, directors and their family members. For more than a decade, dozens of Missouri photographers have had their photos featured. You could be next!Sold exclusively to banks throughout Missouri, these calendars make fantastic gifts for customers to enjoy year-round and to promote your bank. Only digital photos are being accepted until Friday, May 31. Email photos to photos@mobankers.com or submit them on a CD. For complete entry details and a photo contest entry form, visit mobankers.com. If you have questions, contact Carol Barnett at MBA at 573-636-8151 or cbarnett@mobankers.com.SHOWCASE YOUR PHOTOSIN MBA’S 2025 SCENES OF MISSOURI CALENDAR! THE MISSOURI BANKER 7

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Department NewsMBA’s government relations team has had a busy 2024 state legislative session so far. With the last half of the session underway, priority bills are in good position to receive consideration by both chambers. This includes an increase to the cap for the MOBUCK$ program and a bill to allow banks to pass through to consumers the cost of credit reports on consumer loans.Much work remains in the Missouri General Assembly before the lawmakers adjourn Friday, May 17. In addition to our priority bills, MBA is actively opposing credit union ﬁeld of membership expansion. The credit union association has been more organized and aggressive this session; they are hyper-focused on expanding their ﬁeld of membership. However, they aren’t necessarily working for this year. Rather, they are working toward next year and beyond. Simply put, credit unions are laying the groundwork this session. In our discussions with lawmakers, it is apparent that many don’t understand the difference between a bank and a credit union. This fact was highlighted by a meeting we had with a GOVERNMENTAL RELATIONSMBA’s Strength Is Our Grassroots AdvocacyBy David Kent, Senior Vice Presidentsenator’s chief of staff, who switched from a credit union to a bank after we shared that credit unions don’t pay federal income tax! This is why your efforts are crucial in combating the credit union ﬁeld of membership expansion.MBA’s strength has always been and will always be our grassroots advocacy. You make a difference in our advocacy efforts in your conversations with lawmakers. They truly want to hear from you about the issues that are important to you and the banking community. The relationships you have built on the local level are invaluable to our success in Jefferson City and beyond.If you haven’t already done so, we encourage you to register for a Target Banker visit. Please visit mobankers.com to choose the date that best ﬁts your schedule. And if you can’t make it, please schedule a visit with your lawmakers back home. We are happy to assist you with these conversations and can provide an update on the latest developments with legislation. Your efforts to share your views with lawmakers signiﬁcantly affect legislative outcomes at the Capitol. For the latest on activity in the Missouri General Assembly, read the MBA Legislative Update. To receive this weekly e-newsletter, send your contact information to mba@mobankers.com. Stay in the KnowMBA Senior Vice President David Kent and MBA Vice President Emily Lewis recap the ﬁrst half of the 2024 state legisltive session and the vital role that MBA-member banks play in their conversations with lawmakers on an episode of Our Two Cents with MBA. The podcast is available on MBA’s website, iTunes, Apple Podcasts, Google Podcasts and Spotify.GO INSIDE THE LEGISLATIVE SESSIONView Target Banker photos on Pages 24-25.8 mobankers.com8 mobankers.com

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Did Congress exceed its constitutional authority with the Corporate Transparency Act? A federal court thinks so. On March 1, the U.S. District Court for the Northern District of Georgia invalidated CTA in a case brought by the National Small Business Association (NSBA, et al, v. Janet Yellen, et. al., Case No. 5 :22-cv-1448). The decision prevents the Financial Crimes Enforcement Network and the U.S. Treasury from enforcing the act against the association’s 65,000 members. It is likely there will be an appeal, and it is likely that other business associations will seek to intervene to protect their members from this intrusive act and penalties.The CTA affects an estimated 32 million businesses subject to the reporting requirements and penalties that will create a massive federal repository of personal data on millions of Americans to be used primarily for covert government surveillance in support of enforcement of criminal laws.There were no contested facts, and the court ruled on the cross motions for summary judgment presented by the parties. The 53-page opinion found no enumerated power in the U.S. Constitution to support Congress’ authority to enact this law. The government argued that authority could be found under the Commerce Clause and as incidental to foreign affairs powers and for the efﬁcient administration of taxing powers. The government also called out the objectives to prevent ﬁnancial crimes associated with “shell corporations,” such as money laundering and tax evasion. The court rejected all these arguments; the most substantial portion of the opinion was addressed to the Commerce Clause. The court began with the premise that corporate formation is not an enumerated power vested in the U.S. and that corporation law has historically been a matter for the states (apart from speciﬁc corporate charters Congress has granted to establish federal instrumentalities and government-sponsored enterprises).If this decision is afﬁrmed on appeal, it has the potential to reset Washington, D.C., and slow or reverse the growth of the administrative state. My recent columns in The Missouri LEGALWhat Were They Thinking? By Keith Thornburg, Vice President and General CounselBanker have focused on the overreach by administrative agencies and the abuse of due process in the failure to provide meaningful notice and comment and to follow proper administrative law procedures and to disregard, or conversely to seek to expand the statutes beyond their plain meaning that the agencies apply or enforce. A much less intrusive path would have been a focused federal law to require corporations to designate an individual, registered with the various state business ofﬁces (or perhaps the Treasury department), whom the government or other private businesses could access on a case-by-case basis for legitimate government or business purposes to certify, under penalty of law, the individual or individuals exercising control or having signiﬁcant beneﬁcial ownership. If a corporation failed to designate, maintain and support such an agent or ofﬁcer, the entity could be sanctioned by the state charter authority, or the responsible individuals sanctioned by the federal government. This option would strengthen anti-money laundering, Bank Secrecy Act and customer due diligence programs by creating an authoritative and veriﬁable source to certify these matters for purposes of business, commerce and law enforcement, including investigations, tax and national security purposes, without imposing enormous costs, burden, complexity and loss of privacy to millions and the collection of personal data from millions of Americans whose data also would be at risk of abuse or breach.This case illustrates the actions of Congress to expand the administrative state and broadened federal powers by delegating vast authority to administrative agencies that then effectively mandate the draft of citizens and the use of their private property and money to execute government functions. The ever-growing reliance to implement government mandates as the be-all and end-all for every perceived need and to rely on mandates on the private sector to respond to every challenge infringes on privacy and property rights. Boundaries based on enumerated powers and adherence to checks and balances protect against government intrusion. THE MISSOURI BANKER 9

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Department NewsCOMPLIANCEGo Forth and Comply!By Bryan Bradley, CRCM, Vice President of Compliance ServicesCompliance is not exactly the headliner in the show of banking. One of the most commonly repeated descriptions I have heard during my tenure is that compliance is a “necessary evil.” Although that may ring a little true related to the regulations responding to “bad actors,” I prefer to think of banking compliance as simply “doing the right thing.”For those new to banking or those climbing the corporate ladder into senior management, I would encourage you to gain a sound understanding of the banking compliance rules and regulations because they will affect your decisions throughout your career. A personal approach that has served banks well is this.• What is the issue?• What is the root cause of the issue?• How can the issue be resolved?Banks are subject to a compendium of compliance rules and regulations, which are focused on all banking functions, ranging from advertising bank products to managing unclaimed property that a customer may have forgotten. Compliance exams are a regular event for banks in which your bank’s regulator assesses its risk to various compliance requirements and how well the bank addresses those risks. Depending on a bank’s compliance exam rating, these exams may occur every 12 to 72 months, with the more frequent exams likely because of noted past issues. Although this space does not allow for a deep dive into all the compliance requirements affecting banks, the following is intended to give you a 30,000 foot view. Regardless of your bank’s primary federal regulator, each will focus on the bank’s compliance management system during an exam. A CMS demonstrates how a bank:• learns about its compliance responsibilities• ensures that employees understand these responsibilities• ensures that requirements are incorporated into business processes• reviews operations to ensure responsibilities are carried out and requirements are met• takes corrective action and updates materials, as necessaryIn short, know what impacts the bank and plan accordingly.There are two elements that comprise an effective CMS.• Board and Management Oversight — keeping them informed, along with proposed resolution to any deﬁciencies• Consumer Compliance Program — a set of formal and/or informal policies and procedures that are designed to address and mitigate compliance concerns, along with adequate training, monitoring/audit and a consumer compliance response process A bank’s board of directors is ultimately responsible for its CMS. Although individual board members are likely not carrying out policies and procedures, their role is to ensure they know the facts, risks, rewards and solutions to maintaining an effective program.As you progress within your banking career, always be aware of your bank’s compliance responsibilities and consult with your compliance team regularly. In summary, there is no escaping the compliance rules and regulations, so one might as well understand the requirements and develop policies and procedures to mitigate any risks! This article is for information purposes and does not contain or convey legal advice. The information should not be used or relied upon in regard to any particular situation without consultation with your bank attorney. MBA Compliance Services and its Compliance Force program offer various programs to aid banks with compliance needs. For more information, call 573-636-8151.10 mobankers.com10 mobankers.com

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MBA VEBAUnderstanding the Beneﬁts of VEBA’s New Whole Life Insurance PolicyBy Lesley Weaver, Director of Business Development, Insurance ServicesSeven out of 10 adults turning 65 will need long-term care in their lifetime, according to the U.S. Department of Health and Human Services. They will need care for dementia/Alzheimer’s disease, stroke, arthritis/bone and joint issues, circulatory problems and cancer. Depending on the care needed, the monthly average cost of long-term care (nursing home) is $8,669 per month — $104,028 per year. On average, people requiring long-term care need services for two to four years. Many wonder how they will afford these staggering costs if they or their loved ones would need long-term care. MBA members now have an option to assist with these costs. MBA VEBA has partnered with Allstate Beneﬁts to offer Group Whole Life Complete. This life insurance policy features an accelerated death beneﬁt for long-term care, with restoration of beneﬁts and an extension of beneﬁts rider. This policy is designed to cover long-term care services for short or extended periods in various settings, including your home, adult day care, assisted living facility and nursing home. The need for long-term care increases as we age, and women are more likely to need long-term care because they live longer. Single individuals also are more likely to receive care from paid providers. Those with unhealthy lifestyle habits or heredity traits also have increased risks for needing long-term care.A group life insurance policy like Group Whole Life Complete is a lifetime investment with ﬁnancial protection. An injury or illness can result in a costly long-term care expense that can quickly deplete funds you have worked to build for retirement. Group Whole Life Complete provides ﬁnancial protection in three ways. 1. Traditional Whole Life Insurance — When the insured passes away, the designated beneﬁciary receives the policy’s death beneﬁt as a lump sum cash payment. 2. Long-Term Care Services — The insured is certiﬁed chronically ill and receives long-term care, opting to draw funds from the death beneﬁt to help pay for long-term care services. After a 90-day waiting period, the insured can receive up to 6% of the death beneﬁt and can use the long-term care beneﬁts up to 34 months. For example, if you have a $50,000 Group Whole Life Insurance policy and need long-term care services, you will receive $3,000 each month for up to 34 months (6% of the death beneﬁt). 3. Accumulated Cash Value — The insured encounters a ﬁnancial emergency and needs cash, opting to withdraw funds from the cash balance (or borrow against it). Rates are based on your age and tobacco status as of the coverage effective date. Rates are guaranteed not to change as you get older. The death beneﬁt you elect also is guaranteed to never decrease as you get older. This is a guaranteed issue offer with no evidence of insurability, if a policy is purchased during the initial open enrollment in 2024. The Group Whole Life Complete from MBA VEBA is available for employees and spouses up to the age of 70. Coverage is portable, meaning that you can keep it after you retire or leave your employer. You may accelerate up to two times the death beneﬁt while living to fund qualiﬁed long-term care services, and your beneﬁciary will still receive 100% of the death beneﬁt in a lump sum cash payment. MBA VEBA offers personalized enrollment and service through a designated Allstate agent. If you are interested to learn more about this policy, as well as group accident, critical illness and hospital indemnity, please contact Lesley Weaver or Tina Woehr at 573-636-8151, or visit mobankers.com. THE MISSOURI BANKER 11

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Views from Washington, D.C.Thirty Missouri bankers participated in the Washington Summit hosted by the American Bankers Association on March 18 – 20. Bankers met with seven of Missouri’s House representatives and both senators’ staff members to discuss banking legislation. Bankers attending these meetings included 12 members of MBA’s Banking Leadership Missouri class. They are the ﬁrst class of Banking Leadership Missouri to receive stipends from The Max & Cindy Cook Endowment for Advocacy and Leadership Training.Kim Leeper with Mid-Missouri Bank in Mount Vernon and John Klute and Deron Burr with People’s Bank of Seneca met with Rep. Eric Burlison to discuss banking legislation and his bill, the Overtime Pay Flexibility Act, supported by MBA, along with several trade associations. MBA thanked Rep. Emanuel Cleaver II for his leadership in questioning the lending practices of Navy Federal Credit Union and urging the Federal Reserve to analyze the impact of lowering the cap on debit card interchange fees. Representing MBA in its meeting with Cleaver was Joe Cwiklinski, Federal Home Loan Bank of Des Moines; Shannon Johnson, UMB Bank, Kansas City; Mark Larrabee, Arvest Bank, Shawnee Mission, Kan.; Lori Ewing, Union State Bank of Shoal Creek, Kansas City; MBA President and CEO Jackson Hataway; Cleaver; Melanie Riley, Country Club Bank, Kansas City; Sherry Wideman, Bank of Washington; and Alexander Brown, Equity Bank, Warrensburg.2024 ABA WASHINGTON SUMMIT12 mobankers.com

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Representing MBA at ABA’s Washington Summit were 12 members of Banking Leadership Missouri — (front row) Cody Honse, Legends Bank, Rolla; Missy Montgomery, Central Bank of the Ozarks, Springﬁeld; Lori Ewing, Union State Bank of Shoal Creek, Kansas City; Mindi Montgomery, First State Community Bank, Fredericktown; Kim Leeper, Mid-Missouri Bank, Mount Vernon; Crystal Wade, Heritage Bank of the Ozarks, Lebanon;Melanie Riley, Country Club Bank, Kansas City; (back row) Clay Johnson, West Plains Bank and Trust Company; Cory Daniel, Alliance Bank, Cape Girardeau; Alexander Brown, Equity Bank, Warrensburg; Sherry Wideman, Bank of Washington; and Jase Glendenning, Heritage Bank of the Ozarks, Lebanon. They are the ﬁrst class of Banking Leadership Missouri to receive stipends from The Max & Cindy Cook Endowment for Advocacy and Leadership Training to participate in the Washington Summit.MBA thanked Rep. Blaine Luetkemeyer for his leadership in sponsoring the Secure Payments Act of 2024. This bill would require the Federal Reserve to perform a thorough economic analysis of its proposed changes to Regulation II before ﬁnalizing the rule. The Fed is proposing to signiﬁcantly lower the cap on debit card interchange fees. Luetkemeyer’s bill directs the Fed to measure the proposal’s impact on consumers, including access to affordable debit accounts, and to review of the primary beneﬁciary of the interchange cap. MBA members meeting with Luetkemeyer included (ﬁrst row) Deron Burr and John Klute, People’s Bank of Seneca; Rich Weaver, Federal Home Loan Bank of Des Moines; Shannon Johnson, UMB Bank, Kansas City; Scott Breckenkamp, First State Community Bank, Washington; Jamie Lipe, First State Community Bank, Farmington; Dianna Robb and Dan Robb, Jonesburg State Bank; Kaleb Earls, BCC, Plano, Texas; Randy Smith, BCC, Plano, Texas; Sherry Wideman, Bank of Washington; Kim Leeper, Mid-Missouri Bank, Mount Vernon; Mindi Montgomery, First State Community Bank, Fredericktown; Melanie Riley, Country Club Bank, Kansas City; Lori Ewing, Union State Bank of Shoal Creek, Kansas City; (second row) Michael Ireland, The Bank of Missouri, Columbia; Luanne Cundiff, First State Bank of St. Charles; Neil Miles, Bank of Advance; Casey Crowell, The Bank of Missouri, Cape Girardeau; Cody Honse, Legends Bank, Rolla; Jase Glendenning, Heritage Bank of the Ozarks, Lebanon; Luetkemeyer; Crystal Wade, Heritage Bank of the Ozarks, Lebanon; MBA President & CEO Jackson Hataway; Missy Montgomery, Central Bank of the Ozarks, Springﬁeld; David Gohn and Clay Johnson, West Plains Bank and Trust Company; Alexander Brown, Equity Bank, Warrensburg; and Cory Daniel, Alliance Bank, Cape Girardeau.The bipartisan Access to Credit for our Rural Economy Act was received positively in every Missouri congressional ofﬁce. From discussions with Ways and Means Committee Chair Jason Smith, MBA hopes to see ACRE included in the committee’s tax policy discussions this year or next year. Meeting with Smith was Cody Honse, Legends Bank, Rolla; Clay Johnson, West Plains Bank and Trust Company; MBA President & CEO Jackson Hataway; Smith; Jamie Lipe, First State Community Bank, Farmington; Mindi Montgomery, First State Community Bank, Fredericktown; Cory Daniel, Alliance Bank, Cape Girardeau; Casey Crowell, The Bank of Missouri, Cape Girardeau; Neil Miles, Bank of Advance; and David Gohn, West Plains Bank and Trust Company.2024 ABA WASHINGTON SUMMIT THE MISSOURI BANKER 13

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By Lori Bruce, Director of CommunicationsCover StoryMBA Banking Leadership Missouri guides bankers’ career growthFinding Your WayFinding Your WayWhat’s the secret to a successful leadership program? Today’s workplace environment features a variety of leadership programs focusing on similar concepts — communication, employee engagement and ethics, among others — that guide individuals to ﬁnd a style that works best for them. The participants in these programs may share certain characteristics, but that’s where the similarities end and the secret to these programs lies. No two leaders are alike. For individuals to lead, they must discover in themselves what it means to lead others and how they can spark others to take action to achieve their organization’s goals as a team and their own personal career goals. Through Missouri Bankers Association’s Banking Leadership Missouri, bankers throughout the state are learning more about the type of leaders they aspire to be in an industry that is constantly evolving. Bankers in the program’s ninth class reﬂect on how Banking Leadership Missouri is helping them to become the leaders they strive to be.

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Jase GlendenningMichael Arway, The Hamilton Bank Bankers adapt to various situations in their interactions with customers and employees with diverse backgrounds and skills. As a loan ofﬁcer for The Hamilton Bank, Mike Arway knows ﬁnancial security drives banking, and banks must have dedicated teams to successfully guide their customers with their ﬁnancial needs.Jason Bone, First State Community Bank, Paciﬁc Lessons and insights obtained through Banking Leadership Missouri have prompted Jason Bone, executive vice president/loan ofﬁcer for First State Community Bank, to consider individuals’ natural behaviors when assessing situations to have a better understanding of their motivations. Alexander Brown, Equity Bank, Warrensburg Alexander Brown, retail regional manager for Equity Bank, appreciates the connections with peers and a better understanding of the issues in today’s ﬁnancial environment. The cross pollination of ideas, practices and philosophies gathered through MBA’s program is important to the banking industry.Alex Collins, West Plains Bank and Trust Company Banking Leadership Missouri has inﬂuenced Alex Collins, mortgage credit ofﬁcer/assistant vice president for West Plains Bank and Trust Company, to work more closely with colleagues. Engaged employees drive the bank’s success, and leaders must inspire their teams to reach their full potential.Ashley Combs, Mid-Missouri Bank, Republic Banking is constantly changing, and leaders will make mistakes. Ashley Combs, bank manager/assistant vice president for Mid-Missouri Bank, understands leaders must always be teachable and open to new things, and the mistakes you make help you grow into a better leader.Cory Daniel, Alliance Bank, Cape Girardeau Communication is a fundamental requirement for Cory Daniel in his role as community bank president for Alliance Bank. Communicating effectively with employees, customers, community leaders and lawmakers is vital to ensuring a vibrant, thriving banking industry.Lori Ewing, Union State Bank of Shoal Creek, Kansas City Lori Ewing, vice president of lending administration with Union State Bank of Shoal Creek, has focused on lending throughout her banking career. Banking Leadership Missouri gave her insights into banking as a whole and an understanding how departments work together to achieve their goals.Jase Glendenning, Heritage Bank of the Ozarks, Lebanon For Jase Glendenning, vice president-lending for Heritage Bank of the Ozarks, the biggest impact of MBA’s program may seem small but is necessary — showing appreciation to co-workers. Doing so creates a successful bank culture that takes pride in its employees and their commitment to their customers. Lori EwingCory DanielAshley CombsAlex CollinsAlexander BrownJason BoneMichael Arway THE MISSOURI BANKER 15

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Kelly Hohe, FCNB Bank, Rolla MBA’s leadership program has empowered Kelly Hohe, assistant vice president branch and community relations/head of digital marketing for FCNB Bank, to initiate programs and services that drive innovation, foster a customer-centric culture and deliver greater value to the bank’s team and customers.Cody Honse, Legends Bank, Rolla The lessons gained from Banking Leadership Missouri have provided Cody Honse, assistant vice president for Legends Bank, with a better understanding of how each department ﬂows with one another to achieve exceptional services for customers.Clay Johnson, West Plains Bank and Trust Company Clay Johnson, credit analyst lead for West Plains Bank and Trust Company, has built a strong foundation to grow in his career from perspectives shared in MBA’s program. Knowing the external factors challenging the banking industry has assisted Johnson in focusing on the big picture to make informed decisions.Cohlby Jones, BTC Bank, Carrollton For Cohlby Jones, regional president and senior vice president for BTC Bank, Banking Leadership Missouri has reinforced his belief that everything bankers do is based on service to both their customers and their teams. Although there are some competitive advantages in products offered, at the end of the day, the success of the bank comes down to how bankers serve their customers through their teams.Kimberly Leeper, Mid-Missouri Bank, Mount Vernon The network of connections made through MBA’s program is invaluable for Kim Leeper, bank manager and assistant vice president for Mid-Missouri Bank. Insights and perspectives on leadership offer Leeper different ways to guide her team in achieving their goals and assisting customers.Gabe Magnuson, The Bank of Missouri, BolivarInteracting with peers experiencing the same issues and eager to learn how to best solve them has been beneﬁcial for Gabriel Magnuson, commercial loan ofﬁcer for The Bank of Missouri. MBA’s program has been eye-opening to see the importance of advocacy in both legislative and regulatory activities.Dean Mansur, Community Bank of Pleasant Hill Dean Mansur, assistant vice president/loan ofﬁcer for Community Bank of Pleasant Hill, credits MBA’s program with enhancing his leadership style to inﬂuence his team’s behavior, nurture their career goals and assess situations that enhance the bank’s culture and its services to customers.Mindi Montgomery, First State Community Bank, Fredericktown Mindi Montgomery, senior vice president for First State Community Bank, appreciates the government relations component of Banking Leadership Missouri because it provides more awareness of things happening within the industry. MBA’s program has given her new insights on leadership ideas and styles.Mindi MontgomeryDean MansurGabe MagnusonKimberly LeeperCohlby JonesClay JohnsonCody HonseKelly Hohe16 mobankers.com

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Missy Montgomery, Central Bank of the Ozarks, Springﬁeld Meeting colleagues in similar leadership roles has been valuable for Missy Montgomery, senior vice president/commercial lending for Center Bank of the Ozarks. Each has a heart of service and understands that everyone doing well in their respective banks beneﬁts the banking community.Melanie Riley, Country Club Bank, Kansas City Learning more about issues affecting banking has aided Melanie Riley, senior vice president/loan operations for Country Club Bank, in her discussions with lawmakers. Representing the banking industry and its customers on issues with signiﬁcant impacts is critical for the banking community.Collin Thompson, Country Club Bank, Kansas City MBA’s program reafﬁrmed the banking vision that Collin Thompson, vice president of corporate banking for Country Club Bank, has — Missouri banks aspire to be successful economic engines for their communities by providing opportunities for community members and the bank employees who serve them.Crystal Wade, Heritage Bank of the Ozarks, Lebanon Crystal Wade, executive vice president-operations for Heritage Bank of the Ozarks, has learned that no matter the size of the bank, all experience struggles concerning technology, stafﬁng and products. The relationships she has made provide opportunities to discuss concerns facing the industry.Sherry Wideman, Bank of Washington Building relationships, learning new perspectives and advocating for your customers are key program takeaways for Sherry Wideman, assistant vice president-loan operations for Bank of Washington. She has developed a deeper understanding of the banking industry and that your voice matters with lawmakers.Sherry WidemanCrystal WadeCollin ThompsonMelanie RileyMissy Montgomery THE MISSOURI BANKER 17

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By ABA Insurance ServicesUsing third-party service providers can increase conﬁdence and capacity for ﬁnancial institutions, but a systems breach occurring at a third-party vendor also can create havoc for any bank that hasn’t considered the risks in advance. Regulators have stressed the importance of applying a comprehensive risk management process throughout the life cycle of the vendor relationship — from vendor selection and performance monitoring through relationship termination.One vendor risk management area receiving more attention lately is contract negotiations and for good reason — third-party providers have long shifted the bulk of liability and responsibility for their system breaches to the bank. However, banks should recognize that they have a voice in contract negotiations and look for their own contractual protections.Third-Party Service Provider Contracts — Don’t Just Accept, NegotiateGuest CommentarySuch protections should address the following.• protecting bank and customer information• shifting liability and expense risk of a vendor breach back to the vendor• compliance with state and federal laws, such as the Graham-Leach-Bliley Act and MA Data Security Regulation• compliance with regulatory guidance, such as OCC Bulletin 2013-29, “Third-Party Relationships: Risk Management Guidance”Key Contractual Provisions to ConsiderAlthough there is no one-size-ﬁts-all approach to crafting third-party contracts, here are some key contractual provisions to consider in all provider agreements. 18 mobankers.com

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• Legal Compliance — If the third-party provider will have access to personal identiﬁable information, some security procedures are required by law. For example, GLBA requires service providers to adhere to the Safeguards Rule requiring organizations to have a security program in place that ensures the security and conﬁdentiality of customer records. • Security Standards — Providers should commit to adhering to an up-to-date security program that addresses physical safeguards, data and system safeguards, employee training, risk assessments and data destruction policies. • Personnel Policies — Providers should perform background checks on all employees who will have access to the bank’s data. Further, any personnel access to the bank’s data should be on a “need-to-know” basis. • Data Encryption — Encryption is a safe legal harbor in nearly all data breach notiﬁcation laws. Therefore, it is critical for vendors (and banks) to always transmit or store sensitive data in an encrypted format. • Response in the Event of a System Breach — A provider should be required to investigate and remediate the cause of the breach, and the bank should expect full cooperation and notiﬁcation of all investigatory ﬁndings. The bank will want the right to control all customer-facing aspects of the breach response, including breach notiﬁcations. • Audit Access — Contracts should allow the ﬁnancial institution and its regulators the right to audit the vendor’s security practices. In addition, consider requiring third-party audits with reports copied to the bank. • Termination Rights — Maintain or obtain the right to terminate the contract if the supplier fails to comply with its security obligations. Do not tie the right to termination to an actual security breach. • Expense Reimbursement — Providers should be required to reimburse the bank for expenses incurred by the bank while responding to a breach event, such as credit monitoring services, notiﬁcation expenses and professional service fees. Vendors may push back on this and request an expense cap or require a negligence standard of liability. • Require Contractual Liability — Most vendors include contractual disclaimers of consequential damages and a general liability cap, which is surprisingly small, but banks should insist on certain exceptions to the cap, including any indemniﬁcation obligations pertaining to provider breaches of conﬁdentiality or security procedures. Source: David J. Ackley, Jr., Senior Vice President, Senior Information and Corporate Security Ofﬁcer, Camden National Bank, and Joshua T. Silver, Esq., Shareholder, Bernstein Shur Sawyer & Nelson; speakers at the ABA Risk Management Forum 2015 Session, “Cyber Governance: Managing the New Risks.”This article is meant to highlight certain issues that ﬁnancial institutions may wish to consider when entering into service contracts. It is not intended to be, nor is it, a substitute for legal advice. Legal contracts should always be reviewed by a company or ﬁnancial institution’s legal advisor or attorney prior to entering into any agreement. Any discussion relating to policy language and/or coverage requirements is non-exhaustive and provided for informational purposes only. This information provides guidance and is not intended as a legal interpretation of any federal, state or local laws, rules or regulations. ABA Insurance Services Inc. (“ABAIS”) does not warrant that all potential hazards or conditions have been evaluated or can be controlled. The liability of ABAIS and its afﬁliates is limited to the terms, limits and conditions of the insurance policies issued by ABAIS. © 2024 ABA Insurance Services Inc., dba Cabins Insurance Services in CA (CA license #0G63200), ABA Insurance Services of Kentucky Inc. in KY, and ABA Insurance Agency Inc. in MI, 3401 Tuttle Rd., Suite 300, Shaker Heights, OH 44122.ABA Insurance Services, a member of Great American Insurance Group, is a long-term, reliable and stable source of D&O, bond and cyber liability for ﬁnancial institutions, including trust companies and banks in formation. Our unique insurance program, co-endorsed by Missouri Bankers Association and American Bankers Association, has been committed to serving and supporting ﬁnancial institutions by providing quality insurance and excellent customer service for more than 35 years. P&C insurance, excess insurance and STAMP surety bonds are also available. For more information on risk management, visit abais.com/Insights or contact ABA Insurance Services’ Scott Harris at 800-274-5222 or sharris@abais.com. “One vendor risk management area receiv-ing more attention is contract negotiations Banks should recognize that they have a voice in contract negotiations and look for their own contractual protections. THE MISSOURI BANKER 19

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By Greg Omer, Armstrong TeasdaleBank Class Action Developments: Latest Wave Targets Fees for Returned Third-Party Checks“Trouble comes in threes” is an old saying that may occur to some bankers regarding the latest wave of class action lawsuits against banks.Three large Wall Street banks — Citibank, JP Morgan Chase and Wells Fargo Bank — have all been sued recently over charging the same type of fees to customers for depositing checks that are later returned.The type of fee in question is a charge against a bank customer for depositing a check written by a third party that is later returned unpaid, because, for example, the check has bounced or the third-party check originator has stopped payment on the check or has closed the checking account before the check is presented.As bankers have learned over the years, consumer class action lawsuit trends in the banking industry tend to begin with suits against the largest banks, like the three banks being sued over these third-party returned check fees, but then those same lawsuits are gradually ﬁled against super-regional banks, then regional banks and eventually some unlucky community banks.Lawsuit Theory — The theory behind these third-party returned check lawsuits is that the depositing bank customer has no way of knowing whether the third-party check will be returned and, therefore, no way of avoiding the fee.Of course, the customer’s bank that accepts the check for deposit from the customer also has no way of knowing whether the check will be returned by the check originator’s bank, and the depositing customer would usually have more knowledge than the depository bank about the writer of the check and the validity of the payment it represents.In addition, there also are scenarios in which the customer depositing the check is actually in collusion with the originator of the check or may otherwise have knowledge that the check may be returned.Guest Commentary20 mobankers.com

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Bank Class Action Developments: Latest Wave Targets Fees for Returned Third-Party ChecksLegal Claims in Suits — Among the allegations in the lawsuits are claims for breach of contract (based on alleged failure to properly disclose and authorize the fees in the applicable deposit account agreement), breach of the implied covenant of good faith and fair dealing and unjust enrichment, as well as claims under state consumer protection laws. The Chase lawsuit has fewer types of claims than the other two.CFPB Cited by Plaintiffs — Each of the lawsuits cites the Consumer Financial Protection Bureau’s guidance issued in CFPB Bulletin 2022-06, which indicates that “blanket policies” by banks that impose fees on customers depositing checks that are later returned are likely unfair under federal law if the fees are imposed “irrespective of the circumstances of the transaction or patterns of behavior on the account.” The CFPB also states in the bulletin that disclosures made by a bank about the fees may not be able to remedy the perceived violation.Outlook — One of the law ﬁrms representing plaintiffs in each of the three class actions against the Wall Street banks has already stated publicly that it is looking into similar class action lawsuits against more than two dozen other ﬁnancial institutions. Of course, Citi, Chase, Wells and future bank defendants may prevail in these suits and may even get them tossed early. However, assuming the initial lawsuits against the three big banks are harbingers of a spate of similar suits against banks across the country, bankers at other banks may want to review their fee structures, deposit account agreements, fee disclosures and policies to see if preemptive action would be appropriate or could potentially mitigate risk. Greg Omer, a partner with Armstrong Teasdale, has more than 25 years of experience in banking and corporate law as general counsel and executive vice president at a regional bank holding company, partner at law ﬁrms and chief counsel for the Missouri Division of Finance. Learn more atarmstrongteasdale.com. Armstrong Teasdale is a MBA associate member. Outsourced Banking Solutions was formed in 2020 with the mission to bring high quality loan review and credit risk services to community nancial institutions. OBS brings high quality, experienced, local credit professionals who fully understand how loan production, loan administration, credit risk management, and regulatory compliance systems work together most eectively. Our team are experts in these areas, having served in capacities such as senior lenders and chief credit ocers in community banks. OBS is aordable and currently serving banks throughout the state of Missouri. For additional information, please check out our website at outsourcedbankingsolutions.com or contact Steve at Steve.middelkamp@outsourcedbankingsolutions.com. Steve MiddelkampDirector of Business DevelopmentQuade WoodPrincipalTerry VisinneDirector of Loan ReviewMBA JOB BOARDPromote your company’s jobs with MBA!Posted on MBA’s Online Job BoardPublished in weekly MBA e-newsletterShared on social mediaVisit mobankers.com for details. THE MISSOURI BANKER 21

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By Sherri L. Waller, BancMac Guest CommentaryAs we step into the promising landscape of 2024, the housing and mortgage industry is set to undergo promising transformations, presenting unique opportunities for community banks. Missouri’s community banks ﬁnd themselves at the crossroads of innovation and transformative trends within the secondary market mortgage industry. A growing emphasis on sustainability opens doors for community banks to engage in green initiatives, including eco-friendly mortgages and incentives for energy-efﬁcient homes. In addition, the industry’s focus on affordability is driving innovative ﬁnancing options and partnerships, creating avenues for community banks to cater to diverse homebuyers. With the continued rise of remote work, housing market dynamics may shift, offering opportunities in areas experiencing an inﬂux of remote workers. Digital mortgage platforms are evolving, providing end-to-end solutions that simplify the application process for borrowers and improve efﬁciency for lenders. Government initiatives, policies and demographic shifts, such as the increasing entry of millennials into the homebuying market, further shape the landscape. Community banks that leverage secondary mortgage lending partnerships and adapt to evolving mortgage products will position themselves strategically to thrive in this dynamic environment. The persistent low-interest rate environment adds further potential for increased mortgage activity, with community banks ready to capitalize on reﬁnancing and home purchase transactions.By staying attuned to these promising trends in the housing and mortgage industry markets for 2024, community banks can position themselves strategically to navigate changes and capitalize on emerging opportunities.When community banks embark on the search for an ideal secondary market mortgage lending partner, several critical factors come into play. Foremost among these considerations is the partner’s track record of Banks Leverage Strategic Mortgage Partnerships in Housing Sector22 mobankers.com

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reliability and stability. A dependable lending partner ensures consistency and reliability in services, crucial for maintaining smooth operations within the secondary market. Equally important is the partner’s depth of experience and expertise in secondary market mortgage lending, ensuring a nuanced understanding of local market dynamics.Comprehensive product offerings are a key facet to evaluate, as a diverse portfolio enables community banks to cater to a broad spectrum of homebuyers. Embracing technology is paramount in the contemporary mortgage landscape, making it essential for community banks to seek partners committed to ongoing innovation. A partner’s ability to seamlessly integrate technology into their processes can greatly enhance efﬁciency and customer experience.Regulatory compliance remains a cornerstone of responsible lending, making it imperative for community banks to align with partners with a robust commitment to adhering to relevant regulations. Flexibility and customization in lending solutions are equally crucial, enabling community banks to tailor offerings to meet the unique needs of their local market and customer base.Establishing a collaborative relationship with a transparent and communicative lending partner fosters a foundation for success. Effective communication is vital, ensuring that both parties share a common vision and strategy for community development through responsible lending practices. In addition, a partner’s robust risk management practices contribute signiﬁcantly to safeguarding the interests of the community bank and its customers.Community banks also should seek partners actively engaged in community development, as a shared commitment to local initiatives and affordable housing programs reinforces the bank’s role as a community pillar. Ultimately, the choice of a secondary market mortgage lending partner is a strategic decision that involves thorough evaluation of these factors, ensuring that the partnership aligns with the community bank’s mission, goals and dedication to responsible lending in the ever-evolving landscape of the housing industry.Scan here to learn more about what BancMac can offer you.BANCMACCOMMUNITY BANC MORTGAGE CORP.YOUR COMMUNITY BANK MORTGAGE PARTNERbancmac.commortgages@bancmac.com888.821.7729|NMLS# 571147BancMac provides correspondent and wholesale lending and is your Community Bank Mortgage Partner to help your financial institution originate fixed-rate secondary market loans including:PROGRAMS• Conventional Loans• USDA Rural Development Loans• Rural Living (Hobby Farm) Loans• VA Loans• Jumbo Loans• FHA LoansOUR PARTNERS RECEIVE:• Superior Service & Competitive Pricing• No Minimum Volumes• Signiﬁcant, Non-Interest Fee Income• Non-Solicit Protections & MoreChoosing the right secondary market mortgage lending partner is a strategic decision that affects the community bank’s ability to thrive in the dynamic mortgage landscape. A thorough evaluation of potential partners based on these factors will help make an informed and beneﬁcial decision. BancMac provides wholesale correspondent lending and is the community bank mortgage partner for ﬁnancial institutions to originate secondary market loans. BancMac is a registered Service Mark of Community Bank Mortgage Corporation, which is a subsidiary of United Community Bancorp. The BancMac loan program offers more proﬁtable access to the competitively priced secondary mortgage markets, regardless of your institutions size and experience and without a minimum loan production volume. For more information, visit bancmac.com. BancMac is an MBA associate member.Scan Here To Learn More About What BancMac Can Offer You THE MISSOURI BANKER 23

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Members of MBA Next Generation in Banking participated in a Target Banker visit March 5. After a brieﬁng on state legislation from MBA staff, bankers met with their state lawmakers at the Capitol. Bankers attending this visit were (front row) Andrew Cosby, MA Bank, Macon; Joe Klebba, Legends Bank, Jefferson City; Katie Hamlin, Jordan Teter and Cortnie Canote, MA Bank, Macon; Courtney Jones, TPNB Bank, Paris; Tiffany Haertling, The Bank of Missouri, Perryville; Bill Costello, The Bank of Missouri, Columbia; (back row) Nick Raikos, The Bank of Missouri, Springﬁeld; Rachel Dreyer, The Bank of Missouri, Cape Girardeau; Ashley Rainey, Bank of Advance; Jennifer Lynn, Bank of Advance, Chaffee; Torie Johnson and Morgan Roper, Bank of Advance.Around the StateSen. Sandy Crawford, R-Buffalo, is sponsoring two MBA-priority measures this session. Senate Bill 736 would increase the cap for the MOBUCK$ program from $800 million to $1.2 billion. Senate Bill 835 would allow banks to pass through to consumers the cost of credit reports on consumer loans. Crawford (middle) discussed the bills’ progress March 6 with Brian VanFosson with Citizens Bank of Rogersville, Kelly Slayton with Community First Banking Company in West Plains, Sara Richardson with Heritage Bank of the Ozarks in Lebanon and Jack Muench with First Independent Bank in Aurora. Scan the QR codes to view more photos of Target Banker visits.24 mobankers.com

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MBA welcomed First State Bank of St. Charles to Jefferson City on Feb. 20 for a Target Banker visit — Andy Eckhard, credit analyst; Renee Vogelgesang, senior vice president/risk management; Luanne Cundiff, president and CEO; and Mark Prainito, senior vice president/commercial lending. The bankers met with their state senators and representatives to discuss banking legislation.Bank leaders from TPNB Bank in Paris discussed legislation with their state lawmakers Feb. 7 during their Target Banker visit — Marilyn O’Bannon, board chairman; Chuck Brazeale, advisory director and past MBA chairman; and Doug Burnett, president/CEO.Members of MBA’s Government Relations Committee met with their state lawmakers at the Capitol on Feb. 6 — Kyle Smith, senior vice president/chief lending ofﬁcer, Jonesburg State Bank; Kim Reigelsberger, president, Preferred Bank, Rothville; Kevin Jaquet, vice president/compliance and loan review ofﬁcer, HNB Bank, Hannibal; Don Thompson, president, First State Community Bank, Potosi; and Tim Harbison, branch manager/loan ofﬁcer, Ozarks Federal Savings and Loan Association, Ironton. THE MISSOURI BANKER 25

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Ag SeminarAround the StateBankers throughout Missouri enjoyed our 2024 Agricultural Seminar held March 13 in Columbia! Thank you to all our bankers, vendors and speakers for attending!MBA Senior Vice President David Kent discussed MBA’s priority bills in the Missouri General Assembly, including legislation to increase the cap on the MOBUCK$ program from $800 million to $1.2 billion. MBA’s annual ag seminar featured national and state experts sharing their insights on agriculture and what it means for Missouri’s ag producers. The information bankers learned from the seminar greatly beneﬁts their ag customers, their communities and their banks.Mike Poland with Farmers State Bank in Cameron and Connections Bank customer Jason Dick greet speakers Dr. David Kohl and Doug Johnson.Bill Allee with The Tipton Latham Bank visits with Kevin Berry with Earl R. Whaley and Company in Farmington. Earl Niemeyer with Community State Bank of Missouri in Bowling Green and John Deeken with Legends Bank in Linn chat during a session break.26 mobankers.com

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Human Resources & Marketing ConferenceMembers of MBA’s Human Resources Committeeattending the conference March 19-20 in Columbia were Angie Temple, West Plains Bank and Trust Company; Leeanna Delaney, Homebank, Palmyra; Kristen Ziegler, The Bank of Missouri, Perryville; Melody Marcks, Central Bank of Boone County, Columbia; Rachel Keller, Preferred Bank, Rothville; and Carrie Bergﬁeld, MA Bank, Macon. Not pictured is Susie Thompson, Wood & Huston Bank, Marshall.Members of MBA’s Communications Committee attending the conference were Leigh Adams, Country Club Bank, Kansas City; Beth Roby, Regional Missouri Bank, Marceline; Ryan Bowling, OMB Bank, Springﬁeld; and Candice Davis, The Bank of Missouri, Perryville.Opening keynote speaker Kim Becking with Momentum Motivation visits with MBA HR Committee Member Susie Thompson with Wood & Huston Bank in Marshall.Ashley Woody and Olivia Hartley with Farmers Bank of Northern Missouri in Bethany found the conference topics beneﬁcial to their roles at the bank. Latoya Williams with Central Bank of Boone County in Columbia chats with Ashleigh Leenerts with Royal Banks of Missouri in St. Louis.Lydia Sumner with MRV Banks in Cape Girardeau, Raechel Cantoni with First Missouri State Bank of Cape County in Cape Girardeau, Megan Cattoor with MRV Banks in Cape Girardeau and Kayla Klipfel with First Missouri State Bank of Cape County in Cape Girardeau enjoyed discussing their key takeaways from the conference. THE MISSOURI BANKER 27

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AchievementsKiera StraitArvest Bank named Kiera Strait branch sales manager for its Hollister location. Strait is responsible for overall sales, consumer lending and operations. She has 13 years’ experience in banking. Kandace Plott, who previously served as branch sales manager in Hollister, transferred to the bank’s Gretna Road branch in Branson. Plott is responsible for overall sales, consumer lending and operations. She has 10 years of experience in the industry and has her American Bankers Association Supervisor & Team Leader certiﬁcate.Central Trust Company, a division of The Central Trust Bank, promoted Meredith LaRock to market executive for its St. Louis wealth management team to oversee operations and guide its strategic direction. She joined Central Trust Company in June 2023 as vice president and wealth management advisor. LaRock has more than 20 years of ﬁnancial advisory experience. Kayla Hult was named vice president and wealth management advisor for Central Trust Company in Lake Ozark. An experienced ﬁnancial professional, Hult served as a commercial lender at Central Bank of Lake of the Ozarks for more than six years. Kandace PlottAround the StateSend achievements, news and announcements to Lori Bruce, MBA communications director, at mba@mobankers.comfor posssible inclusion in The Missouri Banker.Submit Your News! Meredith LaRock Kayla HultTracey WoodwardTracey Woodward was appointed the ﬁrst female president of Carroll County Trust Company in Carrollton. With her knowledge of ag business, Woodward has served as the bank’s senior lender for the past several years. She completed MBA’s School of Banking, is a graduate of MBA’s Banking Leadership Missouri and served on MBA’s Next Generation in Banking Board of Directors. Community Bank of Raymore promoted several staff members to new roles. Sherie Flowers was promoted to vice president. She leads the loan operations department and has been with the bank since 2009. Jessica Williams was promoted to vice president. She is the branch manager for the Peculiar branch and has been with the bank for 18 years. Brandi Torres was promoted to vice president. She began her career with the bank in 2010 and is the branch manager for the Harrisonville location. Miranda Robinson was promoted to vice president. She serves as the bank secrecy ofﬁcer and has been with the bank for 18 years.Mahrysa Harmon joined Peoples Bank as a teller and deposit counselor for its Steelville and Cuba branches. Her dedication, professionalism and strong commitment to excellence will make a signiﬁcant contribution to the bank’s continued success and growth. Sherie Flowers Jessica WilliamsBrandi Torres Miranda RobinsonMahrysa HarmonMBA SPRING 2024 EDUCATION EVENT HIGHLIGHTSADDED FOCUS! Lending, Credit and Finance ConferenceMay 8–9Holiday Inn Executive Center, ColumbiaMBA’s 134th Annual ConventionJune 4–6 Hilton Branson28 mobankers.com

The Missouri Banker March April 2024

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