The Missouri Banker March April 2025 : simplebooklet.com

ContentsThe Missourifacebook.com/mobankers @mobankers@mobankersMissouri Bankers AssociationFrom our ChairmanWhat It Means to be a Missouri Community Banker. .......................................... 2From our President and CEORate Caps and Price Controls Are Always Bad Policy .......................................... 5American Bankers Association PerspectiveCelebrating a Legacy of Collaboration ....................................................... 6Department NewsGovernment Relations: Interchange Debate Arrives in Missouri .................................. 8Legal: Agency Leadership Matters ........................................................... . 9Compliance: It Is CC Quinquennial Time! ..................................................... 10MBA VEBA: Dental Care, Insurance Play Vital Roles In Maintaining Oral Health .................. 11Next Generation in BankingWin $250 for Local Schools, Groups in Teach Children To Save Challenge ...................... 12Cover StoryThe State of Economic Affairs .............................. 14Economists share insights on what bankers can expectGuest CommentaryA Simple Solution for Improving Your Bank’s CRA Rating ....................................... 18Rethinking Strip Malls ....................................................................... 20Navigating the 2025 Housing Market: How Community Banks Can Thrive in a Stabilizing Market . 22Around the StateMBA Target Banker Visits .................................................................... 7Beyond Banking: Nico Krehmeyer ........................................................... 242025 MBA School of Banking ................................................................ 26Achievements .............................................................................. 28Jackson Hataway, PublisherLori Bruce, EditorLauren Rush, Designer573-636-8151The 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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What It Means to be a Missouri Community BankerDavid M. Gohn, MBA Chairman West Plains Bank and Trust CompanyDo you ever hear an interesting tidbit and wonder where they came up with that? Or are you one who stores it away for later use to share with friends and colleagues? I have one to share that you may ﬁnd interesting.The average tenure for CEOs in today’s workplace is three to four years, according to Steve Cadigan, author of “Workquake” and LinkedIn’s ﬁrst chief human resources ofﬁcer. Cadigan spoke about workplace culture at the American Bankers Association Community Bank Conference that was held in Phoenix in February. He highlighted other good points in his presentation, but this one stuck with me. In speaking with some of my Missouri peers about Cadigan’s comments, I came to the conclusion that the Missouri banking industry doesn’t follow this trend. Individuals working in community banks, especially in rural markets, stay in their From our Chairmanrespective positions for several years. Some even spend their entire careers with one bank. Why is that?There’s no statistic I can share in response to this question that would dazzle you. The only thing I can offer is my perspective, and I hope it’s one that resonates with you.Every day, before the doors open to our banks, our team huddles. There are no set agendas for our huddles — just 10 minutes dedicated to sharing what’s happening in our community, activities at the bank or recognition for a job well done. We close our huddles with games, and the winner enjoys bragging rights for the day. As I look around at my team during these huddles, I see individuals who I’ve known since our days together as Zizzers in the West Plains School District. I see those who have transitioned from another career to banking. I see the newest faces of our team — some who have grown up in West Plains and some new to our town. I see our OG crew — those who mentored me when I returned home to start my banking career. I see that our bank, our team, is a reﬂection of the communities we serve. The opening of a new manufacturing facility in our local community began with the owner’s dream, and that dream was aided with the assistance of our commercial loan team. A new homeowner beams with excitement as they open the door to their new home, and that moment happened because of the guidance from our mortgage team. Individuals enjoying retirement are pursuing their next chapters in traveling, volunteering and discovering new hobbies, and that adventure was fueled with thoughtful planning and guidance from our personal banking team. When the local hospital wanted a mobile mammography unit 2 mobankers.com

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What It Means to be a Missouri Community Banker“We are only as strong as our communities. The success of our communities is our success, and their struggles are our struggles. to travel to serve residents in the seven-county service area, they came to our bank for the name recognition donation, and hundreds of people now receive annual mammograms without having to leave their communities. These milestones occur simultaneously with hardships others are enduring. As costs for necessities increase, individuals tend to cut back on the “extras,” and this affects our communities’ small businesses. Some may lay off employees, hoping these cuts are temporary. Others increase prices, hoping customers understand they are simply covering their costs. Local organizations may experience a decrease in donations, as individuals may not have the resources to contribute as they did in the past. Some decide to close up shop as the deck is stacked against them.I share this because we are only as strong as our communities and customers are. The success of our communities is our success, and their struggles are our struggles. This issue of The Missouri Banker examines the economic condition of our nation. The economy has always been on the minds of bankers and economists; it’s the nature of our jobs. It’s not top of mind for most, until it affects their wallets. Some may delay a signiﬁcant purchase such as a vehicle or home. Businesses may be reevaluating their expansion plans or hiring more staff. These are just a few examples of how the economy is affecting our customers. So, what’s our role as bankers in all of this? It’s the same as it always is — to be here for our customers in guiding them with their ﬁnancial needs. Our customers rely on us for our ﬁnancial expertise, and we are here to reassure them and offer our best advice, in both the good times and the bad.For our communities to survive and thrive, they need us to survive and thrive. It’s what we have always done, and it is what we always will continue to do. S. David Gohn, Billy Kaye Gohn, David M. Gohn, former Ozarks Healthcare President and CEO Tom Keller and Ozarks Healthcare Vice President of Development Josh Reeves with mobile mammography unit THE MISSOURI BANKER 3

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Rate Caps and Price Controls Are Always Bad PolicyIt is always surprising when Republicans and Democrats can ﬁnd common ground. It is shocking when they ﬁnd common ground on terrible and dangerous policy. Missouri’s senior Sen. Josh Hawley, a Republican, has partnered with Vermont Sen. Bernie Sanders, an Independent who caucuses with Democrats, to introduce a bill that would cap the credit card annual percentage rate at 10%. Shocking is the only word that can be used to describe that pairing and that policy.We could not oppose this bill more vehemently or directly, as all Missouri bankers are aware. It ﬂies in the face of basic free market principles and completely disregards the fundamentals of designing and offering a credit product. Jackson Hataway, President and CEO, Missouri Bankers AssociationFrom our President and CEOThis should be a ﬁrm red line for our industry. It is a price cap on the kind of products we offer, and price caps always fail while wreaking damage to the U.S. economy.“Fundamentally, credit pricing is about risk management. If you cannot establish pricing to manage risk appropriately, a bank cannot offer a given credit product. It really is that simple.This bill goes even further than other rate cap bills of its kind. It precludes an issuer from offsetting the price cap with other fees or product designs that might give them a way to manage the unsecured credit risk. In other words, the legislation completely prevents an issuer from offering a credit card to anyone except the most super prime credit borrowers. It will, in one fell swoop, strip credit card access for millions of Missourians, many of whom use their credit cards for emergency short-term funds or basic goods and necessities. Those facts alone are enough reason to oppose the bill. However, our opposition goes a signiﬁcant step further. The idea of introducing rate caps on any credit product opens the door to rate caps on all credit products. This should be a ﬁrm red line for our industry. It is a price cap on the kind of products we offer, and price caps always fail while wreaking damage to the U.S. economy. Rather than helping consumers, they limit supply while driving up demand and — inevitably — drive people into the open arms of questionable or illegitimate providers. When it comes to people’s ﬁnances and credit, that is simply unacceptable.Helping people gain ﬁnancial control is a noble goal, but it also is exactly what banks do best. Instead of trying to manipulate the market, I would urge Sen. Hawley to sit down with Missouri bankers to discuss ways in which we can strengthen the efforts of banks to make Missouri prosper. THE MISSOURI BANKER 5

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Rob Nichols, President and CEO American Bankers AssociationABA PerspectiveCelebrating a Legacyof CollaborationAt the beginning of this year, my travels on behalf of ABA took me to southern California at a time when deadly wildﬁres were still raging through many neighborhoods in Los Angeles and the surrounding area. As I sat there in that room full of bankers, friends and colleagues, the sentiment I felt was unmistakable: that when the smoke cleared and the dust settled, bankers would be there, ready to serve their communities and support the recovery — just as they have done throughout American history. As I reﬂect on ABA’s 150th milestone anniversary in 2025 and as I look at where we are as a nation today, I am reminded that bankers have a long and proud tradition of coming together during hard times to work together and ﬁnd solutions. That certainly was true of ABA’s founding. In 1873, the United States was facing a ﬁnancial panic and one of the worst recessions in history. Unemployment and bankruptcies were surging, and 300 banks failed. It was on the heels of this unrest that two young bankers — inspired by the women’s suffrage movement and the power of collective action — worked to convene the ﬁrst-ever meeting of the American Bankers Association in July 1875 in Saratoga Springs, New York. Since then, ABA has provided a forum for bankers to meet and together develop solutions that make the banking sector stronger, safer and more accessible. Just a few examples — we helped mobilize bankers to safeguard bank funds during a string of bank robberies in the 1890s, we pioneered the routing number system that made it easier for customers to move money, and we encouraged bank lending throughout World War II to help ﬁnance military operations through bank purchases of government bonds. In more recent times, ABA has supported banks’ role as economic ﬁrst responders in the wake of major natural disasters and a global pandemic, and we have helped bolster their mission of making sure that the American dream is achievable for all Americans, particularly those in historically underserved communities. As we continue to face a climate of unprecedented challenges, from a deeply divided political landscape to heightened economic uncertainty, our nation’s banks remain strong, resilient and ready to respond to whatever comes our way. ABA is standing ready to aid them in their important work. Despite the many things today that threaten to divide us, much like our founders experienced, I too believe that we are stronger together. And I hope that in the months and years to come, you’ll continue to be an active part of this organization. Continue sharing your voices, your perspectives and your ideas as we work to shape the future of banking policy in this country throughout the next 150 years. Together, we can — and will — achieve more. Email Rob Nichols at rnichols@aba.com. Bankers have a long and proud tradition of coming together to work together and ﬁnd solutions. Our nation’s banks remain strong, resilient and ready to respond to whatever comes our way.“6 mobankers.com

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MBA Target Banker Visits Through the Target Banker program, MBA has a continuous presence at the Missouri Capitol throughout the session.Bank of Advance President and CEO and past MBA Chairman Harold Miles and Executive Vice President Neil Miles led members of their team at a Target Banker visit Feb. 25 — Carson Miles, Harold Miles, Alyssa Miles, Cierra Crites, Brooke Pipes, Neil Miles, Tonya Lewis, Creighton Miles and Torie Johnson.Sen. Rusty Black, R-Chillicothe, met with Duane Kohlstaedt, president and CEO of Farmers State Bank in Cameron, during a Target Banker visit Feb. 20. Kohls-taedt is a member of MBA's Government Relations Committee.Lt. Gov. David Wasinger met with Kevin Jaquet, vice president of HNB Bank in Hannibal, during a Target Banker visit Feb. 20. Jaquet is a member of MBA's Government Relations Committee.MBA's ﬁrst Target Bankers for the 2025 state legislative session spoke with lawmak-ers Feb. 4. Thank you for sharing your perspectives with lawmakers — Marilyn O'Bannon, chairman of the board, TPNB Bank, Paris; Kim Barnes, president and CEO, The Callaway Bank, Fulton; Chuck Brazeale, MBA past chairman, TPNB Bank, Paris; Doug Burnett, president/CEO, TPNB Bank, Paris; Kyle Smith, executive vice president/chief lending ofﬁcer, Jonesburg State Bank; and MBA Senior Vice Presi-dent David Kent.Scan the QR Code to learn more about MBA's Target Banker program. THE MISSOURI BANKER 7

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Department NewsThe debate over interchange fees has been one of the hottest payment card issues facing the banking industry since the passage of the Durbin Amendment in 2010. Although MBA’s legislative efforts on interchange fees have been focused on the federal level, the interchange issue is now on our doorstep in Jefferson City. Legislation ﬁled in February would prohibit the interchange fee from being applied to sales tax. House Bill 1274 is similar to the Illinois Interchange Fee Prohibition Act that is currently being challenged in court. House Bill 1274 poses a severe threat to Missouri’s ﬁnancial landscape.The bill offers merchants two ways to avoid interchange fees on sales tax — designate the tax amount in real time at the point of sale or navigate a convoluted rebate process lasting up to 180 days. The refund process would impose signiﬁcant administrative burdens on merchants, acquiring and issuing banks, and payment networks.Real-time designation would require massive ﬁnancial and technological investments to point-of-sale systems and other payment infrastructure. This would result in signiﬁcant disruptions amid technical overhauls, all for the sake of supposed “savings” that may never materialize. MBA stands ﬁrm in opposition to House Bill 1274. Interchange fees help cover the costs of payment transactions, risk of fraud and bad debt, and cyber and payment security programs, among other services. House Bill 1274 is big government at its worst. This bill intrudes on essential banking services by enacting price controls that will reduce bank revenues while imposing enormous, perhaps unworkable, programming and card administration costs. Unfortunately, the burden will ultimately land on consumers.Proponents assert that the interchange fee collected on the sales tax portion of a transaction amounts to a tax on tax. In reality, interchange fees represent free market pricing of commercial services. Missouri merchants retain 2% of sales GOVERNMENTAL RELATIONSInterchange Debate Arrives in MissouriBy David Kent, Senior Vice President, and Caleb McDairmant, Policy and Lobbying Interntax as their cost of collection which, by this argument, also presents a tax on tax. Thus, merchants should give up the 2% they get to keep.Proponents also claim that House Bill 1274 will help merchants to lower costs of products or services. However, numerous studies following the Durbin Amendment show that 75% of merchants did not pass the savings on to consumers. Researchers from the University of Chicago concluded that, after taking into account lost perks and increased fees, consumers lost upwards of $25 billion.Grassroots advocacy efforts are the strongest line of defense against dangerous interchange legislation. MBA encourages you to schedule your Target Banker visit so you can discuss this issue in person with your lawmakers. Simply log in to mobankers.com and choose your date, and MBA staff will take care of the rest. Your voice is critical in ensuring this legislation does not pass. 8 mobankers.com8 mobankers.com

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As I write this, the banking regulatory agencies are in turmoil. Trade associations are leading seven signiﬁcant legal cases challenging regulatory actions. Banking rules that were rushed into effect last fall are targets for possible elimination under the Congressional Review Act. The banking industry is drowning under a tsunami of regulations, and the agencies face a reckoning in the courts, in Congress and with President Trump’s administration. CONSUMER FINANCIAL PROTECTION BUREAUTrump removed Rohit Chopra as CFPB director on Feb. 1. Under Chopra, the CFPB aggressively expanded its operations and pursued enforcement and regulatory actions that damaged banks and limited consumer choice, alleging that many products and services presented junk fees or unfair terms and conditions. Many consumers abandoned their banking relationships in favor of unregulated ﬁnancial services providers. The CFPB’s aggressive regulatory agenda has resulted in numerous lawsuits.Russell Vought, the new director of the Ofﬁce of Management and Budget, was appointed by Trump to serve as CFPB acting director. Trump has nominated Jonathan McKernan to serve as CFPB director. McKernan, a Republican, served as a member of the board of directors of the Federal Deposit Insurance Corporation after he was appointed by former President Biden in January 2023. If conﬁrmed, McKernan would return to the FDIC board in his capacity as CFPB director. OFFICE OF THE COMPTROLLER OF THE CURRENCYTrump has nominated Republican Jonathan Gould to be comptroller of the currency. Rodney Hood is currently serving as OCC acting director. If conﬁrmed, Gould also would ﬁll a seat on the FDIC board.FEDERAL DEPOSIT INSURANCE CORPORATIONMartin Gruenberg, a long-time FDIC director, resigned Jan. 19. He served as vice chairman and as chairman at various times since 2005. His service was marred by the 2023 bank failures; accusations and litigation over “Operation Chokepoint;” and allegations of employee misconduct, harassment and abuse. Like Chopra, Gruenberg also oversaw overreaching regulatory rules and supervisory enforcement actions that resulted in signiﬁcant litigation.LEGALAgency Leadership Matters By Keith Thornburg, Vice President and General CounselThe FDIC board is made up of ﬁve directors: three appointed directors, one of whom must have state bank supervisory experience; OCC director; and CFPB director. Not more than three directors may be from the same political party. The chair and vice chair are to be from the appointed directors.At the time of this article, there are two vacancies and three positions in “acting” status (FDIC Vice Chair Travis Hill as acting director, Hood and Vought). McKernan had recently stepped down from the FDIC board to ensure the board did not have more than three members from one party. If Hill, a Republican, remains on the board, the remaining two nominees will be Democrats. FEDERAL RESERVE BOARD OF GOVERNORSThe board is made up of seven appointed members serving 14-year terms, and no more than one from any one of the 12 Federal Reserve Districts. One of the appointees must have primary supervisory experience of community banks under $10 billion in assets. The Dodd-Frank Act of 2010 amended 12 USC 242 to require that one of the members be appointed and conﬁrmed as vice chair for supervision.Michael Barr served as vice chair for supervision but resigned, effective Feb. 28. During his tenure, signiﬁcant supervisory failures occurred and were exposed by the 2023 bank failures. The banking industry frequently protested regulatory proposals presented by Barr.MBA and other state banking associations have urged that Federal Reserve Gov. Michelle Bowman be appointed as vice chair for supervision. Bowman holds the seat designated for a former community bank supervisor and is an excellent advocate for community banks. The next expiration term for a Federal Reserve board member is in 2026 for Adriana Kugler.CONCLUSIONStability in the banking sector is the ability of banks and ﬁnancial institutions to manage risk and operate well, which beneﬁts the economy. Safety and soundness are fundamental to stability. Agency leadership at the banking regulatory agencies matters, and it is essential that regulatory leaders get back to the fundamentals of banking. THE MISSOURI BANKER 9

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Department NewsCOMPLIANCEIt Is CC Quinquennial Time!By Bryan K. Bradley, CRCM, Vice President of Compliance ServicesThis quinquennial (ﬁve years) since July 1, 2020, has ﬂown by! The Expedited Funds Availability Act and Regulation CC require banks to provide their customers with a notice regarding the dollar amount changes that become effective July 1, 2025. WHAT’S CHANGED?The Dodd-Frank Act amended the EFA Act to require inﬂation adjustments to certain dollar amounts within Regulation CC. Effective July 1, 2025, the following will change.• 229.10(c)(1)(vii)(A) — Remove $225 and replace with $275 related to next day availability for certain checks.• 229.12(d) — Remove $450 and $225 and replace with $550 and $275 related to the time period adjustment for withdrawal by cash or similar means.• 229.13(a)(1)(ii), (b), and (d)(2) — Remove $5,525 and replace with $6,725 related to new account, large deposit and repeated overdraft holds.• 229.21(a)(2)(i) — Remove $100 and $1,100 and replace with $125 and $1,350 related to civil liability.CUSTOMER NOTIFICATION Regulation CC (229.18(e)) requires the following related to changes in policy.“A bank shall send a notice to holders of consumer accounts at least 30 days before implementing a change to the bank’s availability policy regarding such accounts, except that a change that expedites the availability of funds may be disclosed not later than 30 days after implementation.”The section above requires banks to send notices to their customers when a bank changes its availability policies with regards to consumer accounts. Although this is limited to consumer customers, it is advisable from a UDAP perspective to send the notices to any customers subject to the bank’s funds availability policies. Banks sending a new Funds Availability Disclosure as the notice shall direct the customer to the changed terms in the disclosure by use of a letter or insert, or by highlighting the changed terms in the disclosure.Because the dollar amount changes that are effective July 1, 2025, are advantageous to customers, banks must send the notices to affected customers no later than 30 calendar days after the change is implemented (by July 31, 2025). Notiﬁcation may take a variety of methods, such as a statement message/insert or a separate mailing. The notice shall address what is changing.DEPOSIT PLATFORM SYSTEM/ACCOUNT DISCLOSURESIn addition to notifying existing customers as of June 30, 2025 (or an earlier implementation date), banks also must ensure that the Funds Availability Disclosure given at account opening when the bank implements the new dollar thresholds is updated to reﬂect the changed dollar amounts for case-by-case, large deposit and new accounts, and that the bank’s system is applying the correct dollar amounts. CONCLUSIONSome banks have already implemented these changes or are planning to do so before the mandatory July date. We suggest informing staff of the changes and when they become effective, and that Reg CC training is updated. In addition, based on hold notice reviews since July 1, 2020, we also recommend monitoring of hold notices for a period of time following the change to ensure staff has properly implemented the changes. Lastly, if your CC notiﬁcation process relied on in 2020 passed ﬂying colors with examiners, this should be a simple redo from ﬁve years ago. 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 VEBADental Care, Insurance Play Vital Roles In Maintaining Oral Health By Lesley Weaver, Director of Business Development, Insurance ServicesDental care and dental insurance are both important for maintaining oral health and preventing costly future issues. They work together to ensure long-term health and prevent the ﬁnancial burden of dental issues. Caring for your oral health is crucial for children and adults, and it has a lasting impact on overall health and well-being. CHILDREN• Dental care in childhood helps establish habits that last a lifetime. Brushing and ﬂossing regularly at an early age reduces the risk of cavities and gum disease later in life.• Children’s baby teeth may fall out, but they play a key role in the development of permanent teeth. Good dental care ensures proper alignment and positioning of adult teeth.• Cavities and dental infections can lead to severe pain in children. Early dental visits help detect problems early and prevent unnecessary pain.• Healthy teeth play a critical role in speech development as they help children properly pronounce words. Dental issues can interfere with this process.ADULTS • Consistent dental care helps prevent issues like cavities, gum disease and tooth sensitivity. Untreated gum disease can lead to tooth loss and affect overall health. • Poor oral health is linked to systemic health problems such as heart disease, diabetes and respiratory conditions. Bacteria in the mouth can enter the bloodstream and contribute to these conditions. • Regular check-ups and cleanings help preserve natural teeth and reduce the need for expensive treatments like root canals or extractions.• Maintaining good oral hygiene improves the appearance of your teeth, leading to a more attractive smile. It also supports the functionality of chewing, which is crucial for nutrition and digestion.• Proper dental care helps prevent bad breath by reducing bacteria buildup on the teeth, tongue and gums. KEY PRACTICES FOR CHILDREN AND ADULTS • Brush at least twice a day with ﬂuoride toothpaste to remove plaque and prevent cavities. • Floss daily to clean areas between the teeth that a toothbrush can’t reach. • Visit the dentist regularly (usually every six months) for professional cleanings and to catch any potential problems early.• Limit sugary foods and drinks, which contribute to plaque and cavities, and opt for a balanced diet to maintain healthy teeth and gums.• For children, ﬂuoride helps strengthen teeth and prevent decay. Adults can beneﬁt from ﬂuoride toothpaste and professional ﬂuoride treatments. IMPORTANCE OF DENTAL INSURANCE• Dental treatments can be expensive, especially for procedures like root canals, crowns or orthodontic work. Dental insurance can reduce the ﬁnancial burden by covering a portion of the treatment costs, making it more affordable.• Many dental insurance plans cover preventive services like routine cleanings and checkups at no additional cost. This encourages regular visits, which can help catch issues early and reduce the need for more extensive treatment in the future.• If you experience a dental emergency, such as a broken tooth or sudden pain, dental insurance can help cover the costs of emergency treatments. Without insurance, these unexpected situations can become very expensive• Individuals with dental insurance are more likely to visit the dentist regularly as the cost of routine care is often reduced or fully covered. This consistent care prevents issues from escalating and can save money in the long run.In short, good dental care and insurance play vital roles in maintaining oral health, preventing disease and ensuring overall well-being. MBA VEBA offers dental insurance through Delta Dental. In addition, MBA VEBA offers medical, group term life, group long-term and short-term disability, vision beneﬁts, voluntary worksite beneﬁts and pet insurance. To learn more about VEBA’s products, contact Lesley Weaver or Tina Woehr at 573-636-8151 or visit mobankers.com. Scan QR code for more details on VEBA's dental plans. THE MISSOURI BANKER 11 THE MISSOURI BANKER 11

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Win $250 for Local Schools, Groups in Teach Children To Save ChallengeNext Generation in BankingThe Next Generation in Banking is excited to announce the Teach Children To Save 2025 Challenge! MBA-member banks participating in the challenge could win $250 for local schools or organizations in their communities.MBA’s Teach Children To Save Challenge celebrates National Financial Literacy Month in April. Throughout the month, Missouri bankers will teach basic savings principles to students in their communities.Bankers who share photos of their presentations on their banks’ Facebook, X, LinkedIn or Instagram accounts and tag MBA on those social media channels will automatically be entered into a drawing to win $250 for a school or community youth organization from MBA. Four $250 prizes will be awarded, and MBA encouages the winning banks to match this amount, giving a school or organization an opportunity to win as much as $500. The contest begins April 1 and ends April 30. Photos must be posted on social media channels, as well as tagging MBA, by 5 p.m. May 1. Visit mobankers.com for additional details. Scan QR code for details on NextGen's Teach Children to Save MBA's Next Generation in Banking held its annual NextGen Day at the Capitol on March 5. NextGen members spent the morning discussing banking legislation with state lawmakers at the Capitol. After their meetings, NextGen members heard presentations from lawmakers and industry leaders on banking issues and the importance of being a banking advocate. Thanks to these bankers for making our NextGen Day a great success!Justin Bender, MA Bank, Macon; Dylan Brocato, First State Community Bank, Washington; Taylor Cox, First State Community Bank, Wright City; Brandi Greene, The Bank of Missouri, Scott City; Zach Grossman, BTC Bank, Bethany; Tim Harbison, Ozarks Federal Savings and Loan Association, Ironton; Ashley Harris, Legends Bank, Belle; Madison Harrison, MA Bank, Macon; Grace Hoener, First State Community Bank, Marthasville; Kelly Hohe, FCNB Bank, Rolla; Cody Honse, Legends Bank, Rolla; Connor Janssen, The Bank of Missouri, Columbia; Cohlby Jones, BTC Bank, Carrollton; Tamekia Juszczyk, CNB St. Louis Bank; John Klebba, Legends Bank, Linn; Joe Klebba, Legends Bank, Jefferson City; Andrew Nemeth, First State Community Bank, Paciﬁc; Marcus Puryear, The Bank of Missouri, Springﬁeld; Lauren Ray, MA Bank, Macon; Lauren Uplinger, MA Bank, Macon; Larissa Wells, First State Community Bank, Washington; Samantha West, FCNB Bank, Steelville; Hattie Widhalm, The Bank of Missouri, Columbia; Abigail Wilt, MA Bank, Macon; Morgan Yoder, First State Community Bank, Richland; Nicolai Zurcher, Farmers & Merchants Bank, High RidgeNextGen Day at the Capitol12 mobankers.com

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BOK Financial® and We go above. So you can go beyond.® are trademarks of BOKF, NA. Member FDIC. Bank dealer services offered through BOK Financial Capital Markets, which operates as a separately identiable department of BOKF, NA. BOKF, NA is the bank subsidiary of BOK Financial Corporation. Investment products are: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUEWe go above. So you can go beyond.Seeking a fresh perspective on your interest rate risk and balance sheet management?As a community banker, your time is valuable. With mounting margin pressures, maximizing earnings from your investment portfolio is crucial. Our unique approach integrates portfolio management within the overall interest rate risk position, optimizing balance sheet performance. At BOK Financial Capital Markets, we help you navigate regulatory requirements with a comprehensive, cost-efcient, tailored solution to enhance your institution’s performance by engaging your management team to formulate ideas and execute strategies that drive results.BudgetingProt projectionsALCOCapital planningDecay/beta analysisRegulatory complianceInvestment portfolioInvestment mixInterest rate riskLoan pricingBoard educationLiquidity stress testingBrokered fundingSCAN TO LEARN MORE OR VISIT BOKFINANCIAL.COM/INSTITUTIONS THE MISSOURI BANKER 13 THE MISSOURI BANKER 13

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The State ofEconomic AffairsBy Lori Bruce, Director of CommunicationsCover StoryThe State ofEconomic AffairsEconomists share insightson what bankers can expectAcross the country, the condition of America’seconomy dominates the landscape. It’s beingdebated in Washington, D.C., and statehousesacross the nation. It’s part of conversations incoffee shops and restaurants, and it’s discussed inhomes as families review their expenses.The economy also is top of mind for bankers.They keep an eye on the activities of Wall St. andhow the decisions from policymakers will affectthe bank’s customers and communities. Theexpectations for 2025 have already proven todiffer from reality. Now, the question is howfar will the new economic trajectory we ﬁndourselves on take us and where will we land.Three economists share their perspectiveson the current national and state economicenvironments, their projections for the yearahead and what all of this means for the Missouribanking community.*responses from late February and early March14 mobankers.com

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voted to begin removing policy restraint, lowering the federal funds rate target range by 50 basis points. This move was followed by two additional rate cuts of 25 basis points in both November and December. The FOMC then paused at its January meeting.Even with a reduction in policy restraint, longer-duration market rates moved the opposite direction over this time, with the 10-year Treasury yield rising from 3.63% on Sept. 16 to as high as 4.79% on Jan. 13. However, it has eased in the weeks since and was about 4.30% as of this interview. These movements in longer-term Treasury yields have been less about changes in short-term policy rates and more about evolving market expectations for economic growth and future policy changes, as well as market pricing of the premium investors require to hold longer-duration bonds. Measures of bank credit tightness and loan demand are helpful in evaluating the effects of interest rates on these areas of banking. The Senior Loan Ofﬁce Opinion Survey aggregates these views for various loan types. On net, credit standards tightened, and loan demand weakened across most loan types over the last two years. This put downward pressure on areas of the economy like business investment, where small businesses in particular rely on bank lending for funding. More recently, these surveys show credit standards remain somewhat tight for most loan types, though the standards have moved much closer to neutral. In addition, while demand remains somewhat weak on loans for consumer credit cards, construction and mortgages, it has returned to roughly neutral on loans for CRE and autos. The latest survey indicated demand for C&I loans turned slightly stronger, on net, in the fourth quarter, the ﬁrst positive reading since the middle of 2022. Kathleen NavinSenior Business EconomistFederal Reserve Bank of St. LouisWhat are the main factors inﬂuencing economic growth in the U.S. and Missouri at this time?The U.S. economy was on solid footing heading into 2025. Real GDP rose at a 2.3% annualized rate in the fourth quarter of 2024, driven by a 4.2% increase in consumer spending. Indeed, the consumer has been the biggest driver for U.S. growth over the last few years. Looking ahead to this year, heightened uncertainty of late and a recent jump in consumer expectations for inﬂation cloud the outlook and bear watching. The Missouri economy tends to mirror the overall U.S. economy. Real GDP growth in Missouri also was solid coming into this year, averaging 2.5% over the four quarters ending in 2024 Q3 (latest data available), close to the 2.7% growth recorded for the U.S. over the same period. Focusing on the third quarter of 2024, Missouri’s real economy rose at a healthy 3.8% annualized rate. How does recent inﬂation data (indicating inﬂation increasing again) impact your thoughts on the economic outlook at both the national and state levels?A ﬁrst look at consumer prices for January released in mid-February showed an unwelcome pick-up in inﬂation. While some of this increase may reﬂect what economists call “residual seasonality” (or seasonal variations in the data that are not removed by standard seasonal adjustment methods), the disappointing report highlighted the fact inﬂation remains above the 2% objective and upside risks to the inﬂation mandate remain. Anchored long-term inﬂation expectations are an important component to achieving the 2% objective.The FOMC has voted to hold rates and has indicated no desire to ease policy further. What impact do you believe that will have, directly or indirectly, on various banking segments?FOMC decisions occur on a meeting-by-meeting basis and take many factors into account. Last September, the FOMC Measures of bank credit tightness and loan demand are helpful in evaluating the effects of interest rates on these areas of banking.“ THE MISSOURI BANKER 15

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Sayee SrinivasanChief EconomistAmerican Bankers AssociationWhat are some of the main factors inﬂuencing the economic growth in the U.S. and in Missouri?The biggest concern is what’s going to happen with inﬂation in the U.S. over the next sort of six to 12 months. We thought that inﬂation would be trending down much faster than we have actually seen, and falling inﬂation would have allowed the Fed to cut its policy rate further. But inﬂation has been very sticky, and the Fed has paused rate cuts. This is not where we expected to be in early 2025.Another concern is the labor market and unemployment. The Fed has a dual policy goal of keeping inﬂation low and full employment. The labor market in the U.S. has been very strong, and the economy has been robust.What do these concerns mean for banks?With inﬂation, the short-term rates have been higher, so banks have kept their deposits rate higher. As the Fed cuts the policy rate, banks have been able to lower the rate that they pay on the deposits, and that helps them with the net interest margin. If inﬂation stays stubborn and the Fed doesn’t cut its policy rates, banks will be forced to maintain the rates on the deposits, and holding everything else constant, that will put pressure on the net interest margin for the banking industry.On the loan side, lending rates are based on longer-term market-determined rates, and those rates haven’t really gone down. They have ﬂuctuated a bunch, but they also are elevated. If those rates stay elevated, it puts pressure on business and households; higher mortgage rates also constrain activity in the housing market.What are some of the factors that are currently driving GDP growth?What we’ve seen through most of 2024 is that all parts of the U.S. economy are doing well. We’re not seeing any signs that give us concern that either in Missouri or in the U.S. that there’s an economic slowdown. Despite the prevailing economic uncertainty from tariff policies, at the time of this conversation, economists are still not forecasting a recession. There is an expectation of an economic slowdown, but not a recession.How can banks use the economic forecasts they’re seeing right now to plan for their future ﬁnancial trends and risk?Economic forecasting is difﬁcult during the best of times, and it has been particularly challenging since the pandemic hit us early 2020. When your customers are looking at their business or when your bank is looking at its forecast, it’s based off what is happening in the local or the national economy. Right now, it’s hard to forecast in this environment. If it’s hard to forecast, then it’s hard to plan. Some are not very comfortable making long-term investment decisions in the form of big projects that require years of development work and sizeable investments. On the other hand, you see billions of dollars being invested in things like artiﬁcial intelligence by ﬁrms that are cash rich. In some sense, there is a dichotomy in the sense that there are speciﬁc sectors in the U.S. economy where big capital investments are being made, and other sectors are constrained by higher rates and the prevailing uncertainty.Joe HaslagProfessor, Kenneth Lay Chair in EconomicsUniversity of Missouri-ColumbiaWhat can you tell us about the economy right now in Missouri?For about a decade or so, Missouri has generally experienced a slower growth rate than the rest of the nation. Growth has been a little bit slower, about a quarter percentage point less than what we saw in the U.S. in 2023 and in 2024, as well, which were quite robust growth periods for the U.S. economy.Missouri is doing OK. It’s not really catching up or even staying even with the rest of the nation, but it appears that it’s growing between 1.75% and roughly 2% for the last ﬁve or six years in the major metro areas.If inﬂation stays stubborn and the Fed doesn’t cut its policy rates, banks will be forced to maintain the rates on the deposits, and holding everything else constant, that will put pressure on the net interest margin for the banking industry.“16 mobankers.com

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What do you see moving forward with the economy right now?All the rhetoric on tariffs has been discombobulating. I think it’s a whipsaw with the ﬁnancial markets. The trade balance was negative in the last quarter, perhaps reﬂecting the idea that in order to beat tariffs, our importers in the United States were importing at a faster rate to try to avoid the tariffs. The downside is importing into the United States is that it drags down GDP. Prior to March 3, when the trade balance was released, that number was running somewhere near 2.5%. It fell like a rock and is now reporting around a negative 2.8% for the ﬁrst quarter of 2025. How would you describe Missouri's economy and GDP right now?The ﬁrst quarter of 2025 across the national level has slowed down to 2-2.5% growth. I would predict that the Missouri economy is probably going to be somewhere in that 1.5-2% range. It’s not growing at the kind of level that you would call a miracle, but it’s not showing any signs that it’s going to go to an immediate contraction phase. What are your thoughts about what the Fed has done trying to control inﬂation?I think the Fed is sort of practicing a reasonable policy right now it. I think it’s appropriate to pause given the numbers that are causing the pause, and I don’t see a major uptick in inﬂation. My best guess is there’s going to be a lowering of rates at some point and if the US economy unexpectedly is weaker than I’m anticipating, we could see rate declines as early as middle of this year. It may wait until the end of the year, but I think it will be fairly soon.My best guess is we’re not going to see prices at the same level as we saw in 2020 during the COVID years. However, let’s not confuse the rate at which prices are increasing now with just the sticker shock of buying eggs at $5 a dozen. Prices are high but when you look at all the goods and services that people buy, the rate of increases is closer to 2-3% and is not rising very rapidly beyond that.How does the current economic situation affect banks’ strategies?I think in the next few months you’ll see a lot of competition in banks looking for really good investment projects. Some banks may take on more risk just to have something other than a treasury bill in their portfolio, and they’ll be looking for really good loans.One of the most exciting things about the U.S. economy is the productivity growth that we’ve observed, and the source of that appears to be an AI boom. We don’t have an industry leader located in Missouri doing AI stuff, but there are a lot in the nation. It’s probably propping both the nation and Missouri up right now from even slower growth. THE MISSOURI BANKER 17

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IntraFi is not an FDIC-insured bank, and deposit insurance covers the failure of an insured bank. A list identifying IntraFi network banks can be found at IntraFi.com/network-banks. Certain conditions must be satisﬁed for “pass-through” FDIC deposit insurance coverage to apply.By Diane Ellis, IntraFiGuest CommentaryFor many bank executives, meeting the Community Reinvestment Act requirements can feel like solving an intricate puzzle.But a new initiative offers a safe, straightforward solution to one key aspect of CRA compliance. Launched earlier this year by the Community Development Bankers Association and the National Bankers Association, the Advancing Communities TogetherSM Deposit Program provides banks with a secure and efﬁcient way to fulﬁll their CRA obligations. By placing deposits into community development ﬁnancial institutions or minority depository institutions, your bank can earn credit toward the CRA’s community development and investment tests.“The ACT Deposit Program is a promising new tool for community and regional banks to earn CRA credit,” said Brian Blake, CBDA’s chief public policy ofﬁcer and a former bank CRA ofﬁcer. “ACT excels at meeting both the spirit and the letter of the CRA, and I believe it is very competitive compared with more complex, costly, or time-consuming alternatives.”HOW DOES THE ACT DEPOSIT PROGRAM WORK?The ACT Deposit Program uses IntraFi’s ICS® — or IntraFi Cash Service® — so your bank’s deposit is eligible for millions of dollars in aggregate FDIC insurance at network banks. The minimum deposit under the program is $1 million for banks with $10 billion or less in assets and $5 million for larger banks. And the deposits earn interest.A Simple Solution for Improving Your Bank’s CRA RatingA Simple Solution for Improving Your Bank’s CRA Rating18 mobankers.com

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Regulators deﬁne CRA “qualiﬁed investments” to include bank deposits with a primary purpose of community development. Under this deﬁnition, and subject to considerations such as the asset size and assessment area of the bank seeking CRA credit, deposits placed at CDFI and MDI banks qualify for CRA consideration.Although CRA guidelines require CDFIs to be located within a bank’s assessment area to qualify for the credit, deposits into any MDI bank qualify, regardless of geographic location. Currently there are 34 MDIs and 64 CDFIs1 operating in 31 states participating in the ACT Deposit Program. A full list of participating CDFIs and MDIs is available online at intraﬁ.com/act-deposit-program#ﬁnd-a-bank.Blake notes that these deposits will help CDFIs and MDIs do even more to help underserved communities.“ACT program deposits put capital to work in communities that need it most,” he said. “Because CDFI and MDI banks operate in low-income or low-wealth communities, their funding options are limited, but they excel at ﬁnancing affordable housing and small businesses, creating jobs and expanding neighborhood facilities in low-income communities.” Blake adds that ACT deposits offer banks qualitative beneﬁts when it comes to CRA ratings because the deposits meet standards of being responsive, ﬂexible and innovative. He concludes that “when leveraged by CDFI and MDI banks, ACT deposits go to very good use.”LEARN MORE ABOUT ACTIf your bank is looking for a secure, effective way to meet CRA’s community development or investment tests, learn more by visiting the ACT Deposit Program website at intraﬁ.com/act-deposit-program or emailing Diane Ellis at dellis@IntraFi.com. You’ll be doing something smart for your bank while also supplying a CDFI or MDI with much-needed deposits to lend in their markets. 1 Fifteen ACT Deposit Program banks are both CDFIs and MDIs.Deposit placement in the ACT Deposit Program within ICS (“Program”) is subject to the terms, conditions and disclosures in applicable agreements, including the ACT Addendum to the ICS Deposit Placement Agreement. A portion of a deposit placed in the program may be allocated to IntraFi network banks that are not CDFIs or MDIs. The interest rate earned on program deposits will likely be lower than the interest rate available on deposits outside of the program. IntraFi and ICS are registered service marks, and ACT is a service mark of IntraFi LLC.Diane Ellis is senior managing director at IntraFi. She leads the Advancing Communities TogetherSM Deposit Program for IntraFi. Previously, she was the director of the Division of Insurance and Research at the Federal Deposit Insurance Corporation. IntraFi® is a trusted partner chosen by more than 3,000 ﬁnancial institutions nationwide. IntraFi’s network — the largest of its kind — brings scale, giving each participant access to tens of billions of dollars in funding, the highest per-depositor and per-bank capacity, and the peace of mind of being able to make large-dollar placements. Contact IntraFi at 866-776-6426 or contactus@intraﬁ.com to ﬁnd out how your bank can join our network of ﬁnancial institutions and beneﬁt from The Power of Many®. IntraFi is an MBA endorsed partner. THE MISSOURI BANKER 19

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Submitted By PolsinelliNeighborhood strip malls are starting to regain attention. Factors such as the growth of hybrid shopping behaviors (a combination of in-store and online shopping), demand for last-mile delivery hubs and the strength of the economy have made strip malls more appealing again. These retail centers are becoming attractive for local businesses, service-oriented tenants and e-commerce fulﬁllment operations that beneﬁt from being in closer proximity to customers. As a result, investors are beginning to reconsider the potential of strip malls, recognizing that they may still offer value through strategic tenant mix and location advantages. This shift is helping to revitalize these retail properties, breathing new life into what were once declining assets in many parts of the country. In an interview with Connect Money, Jared Rothkopf with Polsinelli discussed the adjustment by investors in the retail sector and the bidding war that has emerged for shopping center space. Rothkopf also touched on the impact of rising costs on lease negotiations, the amenities that draw in shoppers and how landlords are incorporating them in their decision making, and the leverage landlords have over tenants given the scarcity of supply of new shopping centers, among other topics. Guest CommentaryTell us about the bidding war for top spaces in retail real estate and the heavy volume of transactions being seen recently. It’s been an extremely busy few years. Vacancies caused by the Bed Bath and Beyonds of the world have led to a race to backﬁll this space, and retailers pounce when space become available. To a certain extent, landlords have had the luxury of evaluating multiple offers on spaces so they can get the best deal. Once a letter of intent (LOI) is signed, it’s a race to ﬁnish the lease — time has been known to kill even the best of deals. How does the rising cost of shopping centers impact lease negotiations? Costs are rising everywhere, and landlords are not immune to inﬂationary pressures. Construction costs have a huge impact on lease negotiations, and pricing out those costs up front is hugely important. I’ve seen deals get stuck because the HVAC units need to be replaced, and the cost and lead time on those units can easily throw a deal out of balance. What amenities are most effective in attracting shoppers to a shopping center and how are developers incorporating them? Lifestyle centers are what attracts the most shoppers for the longest periods of time. So in addition to having a great tenant mix with shopping, food and activities (pickleball, bowling, Rethinking Strip Malls20 mobankers.com

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etc.), you’ll also see outdoor gathering areas, playgrounds, maybe even an area for live music. Whatever owners can do to get people to their center and keep them there, that’s the key. What leverage do landlords have over renters? Smaller tenants and start-ups are at the mercy of landlords to some degree. The bigger the risk of failure by the tenant, the bigger the security package or guaranty from the tenant’s principals. In these scenarios, the landlords have a lot of leverage, and there’s not a ton of lease negotiation. What due diligence factors should investors consider before acquiring an existing shopping center? It’s the classic things, and it could be a really long list. Are there any environmental issues or structural defects that haven’t been addressed? What sort of capital expenses are going to be required to maintain the center for the next ﬁve to 10 years? It sounds simple, but what do the leases say? You never know what kind of surprises can be buried in old leases, like a tenant improvement allowance at renewal that a buyer will need to factor into their pro forma. Are the tenants paying on time? That last thing you want is to inherit a habitual late payer. What advice do you have for landlords negotiating with big-box retailers today? Be really careful when you negotiate the LOI. Kicking the can down the road from the LOI to the lease is asking for trouble. The big box retailers are leaving nothing to chance in the LOI process, so you have to be sure you’re comfortable with the deal you’ve struck before you go to lease. Trying to re-trade an LOI term during the lease process can be done, but you’re going to end up with a protracted and costly lease negotiation process. article reprinted from Connect Money with permission of PosinelliJared Rothkopf is leasing attorney and shareholder at Polsinelli's ofﬁce in Chicago. Polsinelli understands the business and the needs of community banks and works with banks on a broad range of issues, including formation, capital raising, acquisitions, divestitures, corporate restructurings and regulatory compliance issues. Polsinelli's attorneys also understand the challenges our ﬁnancial institution clients face with respect to employment, executive compensation and related issues, and they work with owners regarding business succession and wealth planning. Learn more at polsinelli.com. Polisinelli is an MBA associate member. Calling all photographers! The Missouri Bankers Association is accepting photo submissions for its 2026 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. 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 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 2026 SCENES OF MISSOURI CALENDAR THE MISSOURI BANKER 21

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One of the key challenges for buyers today is adjusting to higher mortgage rates. Although it’s unlikely we’ll see signiﬁcant drops in rates anytime soon, buyers have started to accept this new normal. Community banks must help their clients navigate this shift, offering strategic advice and solutions that can offset the impact of higher monthly payments.Missouri’s housing market is dynamic, and homebuyers are becoming more discerning in their search for mortgage solutions that best meet their ﬁnancial needs. Community banks that maintain constant communication with their clients will be the most successful in fostering relationships and guiding customers through this complex decision-making process. It is more critical than ever to proactively market mortgage products. Offering a diverse range of mortgage options that align with the evolving needs of homebuyers can set your institution apart. Providing more ﬂexible, long-term ﬁxed rate options with lower down payment requirements and eased credit standards will help your bank thrive in this changing environment. As interest rates ﬂuctuate and housing prices remain a concern, ﬂexible mortgage products have become a key tool By Sherri L. Waller, BancMac Guest CommentaryAs we step into 2025, the housing market is showing promising signs of stabilizing after a period of rapid price increases and volatility. Reports indicate that home price appreciation is beginning to slow. This moderation is due to several factors, including buyers adjusting to the reality of higher mortgage rates, gradually improving inventory levels and the ongoing impact of broader economic conditions. Although pending home sales remain weak compared to historical norms, predictions for the year ahead are optimistic. Experts agree that we are unlikely to see a signiﬁcant drop in mortgage rates in the near term, but opportunities for growth and successful transactions still exist, especially for community banks that remain proactive and adaptable in their approach. After several years of rapid home price increases, slowing appreciation may initially seem concerning for those hoping for continued equity growth. However, this shift could actually be beneﬁcial in the long term. For homebuyers, a moderation in prices makes homeownership more attainable, allowing buyers to enter the market without extreme competition and bidding wars that characterized previous years. This could translate into a more stable market with fewer unpredictable ﬂuctuations, offering better opportunities for customers who have been on the sidelines.Navigating the 2025 Housing Market: How Community Banks Can Thrive in a Stabilizing Market22 mobankers.com

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in making homeownership attainable for many buyers. By offering these diverse secondary market mortgage products, banks can provide customers with more ways to ﬁnance their homes and adapt to different ﬁnancial situations. To ensure your customers are aware of the mortgage options available to them, implementing a comprehensive marketing strategy is essential. Promoting your mortgage offerings effectively and increasing customer engagement not only boosts your bank’s visibility but also helps build long-term relationships as your customers move through different life stages, whether purchasing their ﬁrst home, upgrading to a larger property or reﬁnancing to tap into their home’s equity to pay off high-interest debts. As home values have risen throughout the last several years, many homeowners ﬁnd themselves sitting on a signiﬁcant amount of equity. Ongoing dialogue about mortgage solutions will keep your customer engaged with your institution. In addition, secondary market products that meet the unique needs of your community can contribute to broader economic development by revitalizing neighborhoods, supporting local businesses and fostering a sense of stability. Your bank becomes more than just a lender — it becomes a partner in helping your customers achieve ﬁnancial security and long-term prosperity through homeownership.Finally, as community banks look to offer competitive mortgage products, it is crucial to partner with a reliable and trustworthy source to deliver loans into the secondary market. A strong mortgage partner can help guide clients through the documentation process, ensure that all regulatory requirements are met and ﬁnd innovative solutions to meet the unique needs of each borrower’s situation. By offering comprehensive support to borrowers, community banks can transform what might seem like a daunting process into an opportunity for success. This collaboration helps maintain a variable cost structure while earning signiﬁcant noninterest income and ensuring that the dream of homeownership remains achievable for Missouri families. 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 & MoreBancMac provides wholesale correspondent lending and is the community bank mortgage partner for ﬁnancial institutions to originate secondary market loans, including conventional, USDA, VA and Rural Living programs. 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 institution's size and experience and without a minimum loan production volume. Most importantly, the BancMac loan servicing will not be sold, and customers won't be cross-sold to other banking services. Learn more at bancmac.com. BancMac is an MBA associate member.Scan here to learn more about what BancMac can offer you.Scan Here To Learn More About What BancMac Can Offer You THE MISSOURI BANKER 23

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Around the StateBeyond Banking: Nico Krehmeyer, Project Coordinator Midwest BankCentre, St. LouisBy Lori Bruce, Director of CommunicationsFrom the moment his tiny ﬁngers struck the keys of his grandmother’s piano, Nico Krehmeyer has always wanted to play music. “I remember reaching up to my grandma Sharon’s piano at her house and wanted to play music,” he said. “It was sort of pre-programmed in me I guess, and I’ve carried it forward ever since.”He’s still tapping away at keyboards, both in his professional and personal life, as he shares his talents with others. Krehmeyer has been a part of the Midwest BankCentre team in St. Louis since 2019. Active with nonproﬁt groups in the community, Krehmeyer admired the work of Orv Kimbrough as CEO of United Way of Greater Saint Louis. When Kimbrough was named CEO of the bank, he added the tagline “Dream Big” to the bank’s slogan, and it caught Krehmeyer’s attention.“I wanted to do something totally different, too. I wanted to dream big,” Krehmeyer said.As project coordinator for the community and economic development department at Midwest BankCentre, Krehmeyer works closely with commercial lenders and nonproﬁt organizations in the community.“For many years, I have wanted to do all I can in my personal and professional life to support some of our great nonproﬁts here in Saint Louis,” Krehmeyer said. “My role with the bank has given me an opportunity to do that and really connect with some organizations that I care about deeply in a more personal and meaningful way.”That sentiment of personal connection extends to his music. A lifelong musician and composer, Krehmeyer doesn’t “remember a life before music.” He began playing the piano when he was 3 and began taking lessons as a child. The lessons struck a sour note.“There never seemed to be a good ﬁt with instructors. Most lessons lasted only a few weeks,” Krehmeyer said. A self-taught pianist, Krehmeyer enjoyed learning from others’ music from a composer’s viewpoint to help him become a better performer or understand a musical idea that he could potentially apply to his own composition. “I'm a composer ﬁrst and foremost. I love sitting at the piano and creating new melodies and chord structures and bringing ideas into the world,” Krehmeyer said.Krehmeyer spends hours learning and listening, letting ideas ﬂow as he absorbs the inﬂuences around him. He sifts through those ideas as he composes a new combination of melodies into the world.“That’s sort of essence of the music that I write. It's never something that I force,” Krehmeyer said. Ideas may come one at a time, he said. 24 mobankers.com

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once belonged to his great-grandmother.“Everyone in my family is very much an appreciator of music,” Krehmeyer said. “Music has always been a wonderful part of my life.” Krehmeyer continues to ﬁnd inspiration for composing music from his surroundings.“Everything that is happening — the chaos, the calm — that makes up life fuels music,” he said. “I’m inspired every day by seeing people support one another in our community and lifting each other up. I anticipate a lot more music in the years ahead.” “Each one is a little bit different and can take on its own personality and develop in its own way through the years as I continue to sort out the fundamental ideas that make up that song,” Krehmeyer said.Krehmeyer has composed 40 songs in his lifetime. In looking back at his compositions, he can track his musical evolution over the years. Krehmeyer considers “Suzanne’s Song” his greatest musical accomplishment.“That song has a very personal meaning to me and to my family,” he said. “I remember the writing and all the surrounding circumstances and how everything came together. I’m very proud of ‘Suzanne’s Song.’”Krehmeyer does not promote his music. He does share his music on his YouTube channel — youtube.com/@nicoforeverm31 — when he feels he has something “worthy of listening.” The channel currently has 30 videos of Krehmeyer’s music. He hopes his music brings calm and peace to all who may listen to it.“My music has that same effect on me when I play,” Krehmeyer said. “Instantaneously, it can put things sort of back into perspective for me and bring a sense of calm and peace.”There isn’t a day that goes by that Krehmeyer doesn’t ﬁnd himself sitting in front of his Baldwin piano. More than 100 years old, the piano belonged to his great-grandmother. Krehmeyer thinks of her and his family when playing the piano in his home, which also THE MISSOURI BANKER 25

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Around the State2025 MBA School of BankingFirst Year ClassTanner Abbott, Midwest Independent BankersBank, Jefferson CityRylan Allsup, The Hamilton BankFernando Carlos Jr., Central Bank of Boone County, ColumbiaSteven Conklin, United Bank of UnionAmy Emery, Town & Country Bank, Mountain GroveNicole Fritzemeyer, United Bank of UnionMatthew Grove, Bank of Franklin County, WashingtonBrennan Haynes, Nodaway Valley Bank, St. JosephAmy Hedrick, Mid-Missouri Bank, StocktonShanika Jones, St. Johns Bank & Trust Company, St. LouisSpencer Juergens, Citizens Bank, New HavenAbby Lecure, Flat Branch Bank, RichmondMisty Matthews, Focus Bank, SikestonAshley Mercer, United Bank of UnionCreighton Miles, Bank of AdvanceJack Mueller, Phelps County Bank, St. JamesSean Neal, Town & Country Bank, AvaCourtney Neville, Commercial Trust Company, FayetteSpencer Nothum, Peoples Savings Bank, HermannErica Pefferman, Flat Branch Bank, RichmondLydia Placht, Bank of Franklin County, WashingtonChristina Rea, St. Johns Bank & Trust Company, St. LouisCourtney Redhage-Johnson, United Bank of UnionBrandon Riggs, First State Bank & Trust Company Inc., CaruthersvilleMitch Robinson, Nodaway Valley Bank, MaryvilleJohn Sapp, Midwest Independent BankersBank, Jefferson CityKent Shikles, Community Point Bank, RussellvilleMatthew Sweeney, CNB St. Louis BankJennifer Williams, Progressive Ozark Bank, HoustonSPONSORS26 mobankers.com

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Congratulations to the 2025 School of Banking Graduates!Scott Bartlett, Carroll County Trust Company, CarrolltonJanine Brinker, BTC Bank, ColumbiaLewis Chapman, Bank of Prairie Village, KansasBill Cotton, Unico Bank, PotosiTaylor Cox, First State Community Bank, Wright CityLogan Darnell, First State Bank & Trust Company Inc., CaruthersvilleCory Dudley, Southern Bank, SmithvilleDean Ekle, Exchange Bank of Northeast Missouri, KahokaCordell Finley, West Plains Bank and Trust CompanyCassie Fisher, Concordia Bank, OdessaJacob Forsythe, Farmers State Bank, CameronAshly Galbreath, The Callaway Bank, FultonCurtis Gilliland, Bank of AdvanceCharles Hendrix, CNB St. Louis BankMatthew Kallmeyer, Peoples Savings Bank, HermannBryan Keene, Ozark Bank, NixaHenry Kientzy, Silex Banking CompanyAdrianne Logsden, Unico Bank, PotosiNathan Martin, First State Bank & Trust Company Inc., Caruthersville Sonja McKinney, Central Bank of Boone County, ColumbiaMary Miller-Quartemont, The Callaway Bank, FultonRobin Morrison, Central Bank of Boone County, ColumbiaLydia Palmer, Bank of Brookﬁeld-PurdinNathan Ramseyer, Hawthorn Bank, Jefferson CityJason Reuterdahl, Bank of New CambriaPhillip Roller, Sterling Bank, Rogers, ArkansasDarius Schultz, farmbank, KirksvilleDeborah Young, The Callaway Bank, FultonSecond Year Class THE MISSOURI BANKER 27

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AchievementsArvest Bank in Springﬁeld promoted Andreea Westerhold to consumer loan sales manager. She oversees the consumer lending team and provides expertise on loan policies, products and services. Westerhold, who has more than 16 years of industry experience, previously worked as a real estate loan advisor for Arvest and served as the bank’s branch sales manager in Branson for more than 10 years. Branson Bank promoted Karla Yeary to community bank ofﬁcer. She joined the bank in 2007 as a loan processor and transitioned to the role of lender in 2018. Over the years, she has cultivated a deep expertise in consumer and agricultural loans. Yeary has 25 years of banking experience. Joseph Cherek Jr. was promoted to portfolio ofﬁcer and government loan specialist. Cherek manages the day-to-day operations of the credit department, ensuring efﬁcient loan underwriting and portfolio management and serving as the point person for guaranteed loan processing. He is responsible for performing loan reviews, underwriting, maintaining regulatory compliance and managing credit risk. Cherek joined the bank in 2019 and has more than 11 years of banking experience.Carrollton Bank in St. Louis promoted Chris Dickey to regional president for the bank’s Clayton market. He joined the bank in 2011 as a commercial banker. Dickey succeeds Scott Larson, who was named chief lending ofﬁcer for the bank. Larson served as regional president since 2010, and his new role will help drive the bank’s continued growth. James McGauley will continue in his role as executive vice president of commercial banking.Around the StateAndreea WesterholdSend achievements, news and announcements to Lori Bruce, MBA communications director, at mba@mobankers.comfor possible inclusion in The Missouri Banker.Submit Your News! John Landwehr joined Community Bank of Missouri in Richmond as vice president. He has spent the past ﬁve years as a manufacturing engineer and is currently pursuing a master’s degree in business administration with a certiﬁcate in investments from the University of Missouri-Columbia. Landwehr is excited for the opportunity to help sustain the bank’s legacy of community stewardship and provide customers with high quality products and service.First State Bank of Purdy named Jeff Scott as its new CEO. He steps into this role previously held by owner Glen Garrett, his stepfather. Scott has been actively involved in the bank’s operations for 18 years as a director, contributing to key strategic initiatives and fostering a culture of excellence. Randy Henderson, bank president, said Scott understands the bank’s importance to the community and his vision will guide the bank toward a bright, prosperous future. With a strong background in ﬁnance and technology, combined with experience in banking at a previous institution, Scott is uniquely equipped to lead the bank into its next chapter of growth and innovation. First State Community Bank in Farmington promoted Joe Miller to president. Matt Sebastian will continue as CEO. Miller has nine years of banking experience with FSCB as a market president for the central Missouri market and transitioned to a regional president with responsibilities over the Marshall, Boonville, Columbia, Mexico, Moberly and Macon markets. His banking career began in 1987 while working part-time as a bank mail courier in college. In his 37-plus years in banking, he has served in a variety of positions, including human resources, loan operations, loan collections, real estate loan ofﬁcer, commercial loan ofﬁcer, market president, senior vice president of retail banking and commercial lending division manager. Hawthorn Bank named Gavin Robinson its chief investment ofﬁcer for Hawthorn Wealth Management. Based in Kansas City, Robinson develops and oversees investment portfolios and strategies, balances risk, analyzes data and collaborates with current and potential clients. Robinson has more than 10 years of investment strategy experience.Karla Yeary Joseph Cherek Jr. John LandwehrJeff ScottJoe MillerGavin RobinsonChris Dickey Scott Larson James McGauley28 mobankers.com

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Joyce Kennedy Manager, Insurance Servicesjkennedy@mobankers.comLesley WeaverDirector, Business Developmentlweaver@mobankers.comTina WoehrEmployee Beneﬁts Account Executivetwoehr@mobankers.comMedicalDentalVisionLife & Additional LifeLong-Term & Short-Term Disability Felonious AssaultGroup AccidentWorksite ProductsPet Insurance800-234-4939 mobankers.comAround the StateMEMBER FDIC40yearsGROWING STRONGERTOGETHERLending ServicesOperational ServicesAudit Services* 800-347-4MIB mibanc.com* Audit Services are oered thru MIB Banc Services, LLC, a subsidiary of our holding company.Madison Foster was promoted to digital marketing manager at OMB Bank in Springﬁeld. She oversees the development and execution of innovative digital marketing strategies. Foster joined the bank in 2022. Michelle Sullivan was named senior vice president and chief risk ofﬁcer. She has more than two decades of banking and compliance experience.Duane Farmer was named senior vice president and director of consumer lending. He has 20 years of industry experience.Brandon Kalista joined Mid America Bank in Columbia as assistant vice president, loan ofﬁcer. He is responsible for evaluating, authorizing, recommending approval of and closing loan applications for consumer, residential, commercial and agricultural loans. He has more than 14 years of banking experience.Madison Foster Michelle Sullivan Duane FarmerBrandon KalistaJames Mitchell “Mitch” Robinson joined Nodaway Valley Bank as a business development ofﬁcer. He is the sixth generation to join the family-owned bank currently led by his father, James G. Robinson, chairman of the board and CEO. He is working out of the bank’s loan production ofﬁce in Liberty. Joe Christifano was named chief ﬁnancial ofﬁcer for Pony Express Bank in Liberty. Christifano works closely with bank leaders to develop scalable ﬁnancial processes to support the bank’s continued growth. He also oversees the bank’s balance sheet, investments, and ﬁnancial operations. In his banking career spanning more than 15 years, Christifano has extensive experience in both large and community banks. Mitch and James RobinsonJoe Christifano

The Missouri Banker March April 2025

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