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bimonthy magazine of the Missouri Bankers AssociationMay/June 2023 Vol. 04, No. 03COVER STORYTaking FlightJackson Hataway sets his course as MBA president and CEOThe Missouri
Connect with MBA!Become a member and see how easy it is to expand beyond your local borrower base.Nellie SzczechEVP, Institutional Relationships315.383.9648nellie@bhg-inc.comBHGLoanHub.com/MOBA• Access top-tier assets• Turn excess liquidity into revenue• Receive direct ACH payments from borrowers• Credit enhancements availableOur 1,525+ Bank Network members have earned more than $1B in combined interest income from exclusive access since 2001.Bank benets:The BHG Loan Hub is a secure, state-of-the-art platform that allows you to diversify your bank’s portfolio with top-performing loans. BHG LOAN HUBTHE
contents573-636-8151Jackson HatawayPublisherLori BruceEditorThe Missouri Banker (USPS Number000044, ISSN Number 0893-5637)is published six times a year by theMissouri Bankers Association, 207E. Capitol Ave., Jefferson City, MO65101. Second-class postage is paidat Jefferson City, Mo. Copyright© 1998by the Missouri Bankers Association.All rights reserved. POSTMASTER:Send address changes to The MissouriBanker, P.O. Box 57, Jefferson City, MO65102. Opinions expressed in any signedarticle in The Missouri Banker are thoseof the author and should not be construedas the viewpoint of the editors or of theMissouri Bankers Association. Neithershould information provided in The MissouriBanker be construed as legal advice. TheMissouri Banker does not provide legaladvice, nor does it take the place of legalcounsel hired by nancial institutions. Whilethis publication makes a reasonable effort toestablish the integrity of advertisers, it doesnot endorse advertised products or services,unless otherwise so stated. This issue maycontain legislative advertising. Advertising copyis generally segregated from news and otherinformation.Address ChangesSubmit address changes for The Missouri Banker todatabase@mobankers.com.The MissouriFrom our ChairmanOur Strength Stems from Our Commitment ............................................ 2From our President and CEOPlaying ‘What If ’ ....................................................................... 5American Bankers Association PerspectiveAmerica’s Banks are Stronger Together .................................................... 6Department NewsGovernment Relations:MBA Wraps Up a Successful 2023 State Legislative Session ............ . .8Legal: Court Cases Compel Government to Follow Rule of Law ............................ . 9Compliance: Advertising Annual Percentage Yields ....................................... 10Next Generation in Banking: 2023 Teach Children To Save Winners ...................... 12Cover StoryTaking Flight ............................................ 14Jackson Hataway sets his course at MBAGuest CommentaryNew MBA Endorsed Partner Abrigo Oers Solutions to Aid Missouri Banks ................ 18Planning for the Improbable: Protecting Uninsured Bank Deposit Funds. ................. 20CFPB Small Business Lending Collection Data Rule Has Potentially Devastating EnforcementImplications ........................................................................ 22Around the StateBreen, Gohn, Kussman Nominated for MBA Oces .............................. 25MBA Welcomes Bankers to Board of Directors .................................. 26 Achievements ............................................................... 28Seven Graduates Receive $1,000 MBA Foundation Scholarships ............... 29Connect
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MBA!facebook.com/mobankersfacebook.com/monextgenbankers@mobankers@mobankersMissouri Bankers AssociationBecome a member and see how easy it is to expand beyond your local borrower base.Nellie SzczechEVP, Institutional Relationships315.383.9648nellie@bhg-inc.comBHGLoanHub.com/MOBA• Access top-tier assets• Turn excess liquidity into revenue• Receive direct ACH payments from borrowers• Credit enhancements availableOur 1,525+ Bank Network members have earned more than $1B in combined interest income from exclusive access since 2001.Bank benets:The BHG Loan Hub is a secure, state-of-the-art platform that allows you to diversify your bank’s portfolio with top-performing loans. BHG LOAN HUBTHE THE MISSOURI BANKER 1
Our Strength Stems om Our CommitmentFrom our ChairmanJ.R. Buckner, MBA Chairman First Federal Bank of Kansas CityAs this is my last column as MBA chairman, I wanted to offer words of encouragement as we look ahead at a likely recession and potentially more regulatory overreach. As we watch our net interest margins get squeezed, liquidity decrease and credit quality deteriorate, it will be even more important for us to be present in Jeerson City and Washington, D.C., to articulate how current and proposed legislation negatively impacts our ability to serve the nancial needs of our communities. In the midst of ghting our own res, we must ensure our voices are heard on relevant issues. Missouri banks are well-capitalized and well-managed, and my travels around the state and multiple conversations with peers has reinforced my faith in the resiliency and strength of the banking industry in Missouri.at strength stems from our commitment to our communities — our customers know us, and we know them. For us to maintain and enhance that strength requires commitment.• Commitment to tell our stories. I’ve posed this question many times and will do so once more — if we don’t share our stories and how our banks make an impact in our communities, who will? Blast your story to your sta, your customers, your communities, elected ocials — anyone who will listen. Be vocal in showcasing all the good we perform in our communities. Every time we participate in activities in our communities or lend our services, we need to blast it — post it, share it, like it — make your presence known! Telling our stories is necessary in our advocacy endeavors. At critical moments like the ones that our industry just experienced, it’s absolutely imperative our elected ocials know who we are and where community banks stand. And we must have a united, collective voice with our peers and competitors in messages to lawmakers. • Commitment to invest in our sta. We must ensure community banks remain relevant and continue to thrive, and that starts with the resources we commit to enhancing employees’ skills and their professional 2 mobankers.com
Our Strength Stems om Our CommitmentOur Two Cents with MBAMBA’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.development. How do we expect them to have a passion for community banking if we fail to show, mentor and teach all that community banking encompasses? Send your team to seminars and conferences. Encourage them to network. Give your team opportunities before you think they are ready. ey are the ones who can share our stories, be our banks’ advocates and ensure our banks’ commitments to our customers and communities continue for years to come. • Commitment to support MBA. “What’s so special about Missouri?” is a question I oen heard in my travels this past year as MBA chairman. Our state has a signicantly large presence of community banks that all have a heart for service to their customers and communities. is has been strengthened by the culture that Max and Cindy Cook built at MBA. For this culture to thrive, we need to support Jackson Hataway and his wife, Michelle, as they begin a new chapter for our association. Support MBA’s initiatives and calls to action. We are only as strong when presenting a united front. Be engaged and active. MBA is only as strong as the support and commitment they receive from us. We are the Missouri Bankers Association, and we are proud to represent an association with an incredible legacy and a promising future for community banking. It’s been an extremely rewarding and humbling experience to serve as MBA chairman, and I am thankful for all who supported me in this journey. Community banking is the backbone of our economy and communities. As Jackson and incoming MBA Chairman Adrian Breen step into new leadership roles, I will be there beside them continuing to advocate for our noble profession and industry. THE MISSOURI BANKER 3
SAVE THE DATEMBA Washington VisitOctober 15-18, 2023Tentative ScheduleSunday, October 15, 2023• Travel DayMonday, October 16, 2023• ABA Briefing• Regulatory Meetings• Possible Hill Visits• Group DinnerTuesday, October 17, 2023• Regulatory Meeting• Possible Hill Visits• Dine-Around DinnersWednesday, October 18, 2023• Regulatory Meeting• Adjourn and Travel Day
From our President and CEOPlaying ‘What If ’The news in May focused almost singularly on the debt ceiling. As we played “Lucy and the football” for what felt like the dozenth time on this issue in the last eight years, pundits and markets alike anticipated an eventual — if grudging — compromise. ankfully, they were correct as U.S. House Speaker Kevin McCarthy and President Biden negotiated a deal to raise the ceiling past the next presidential election. However, as we came closer and closer to the “X date” (the date at which Treasury cannot make payments), I couldn’t stop myself from wondering “What if?”What if, because of the extremely partisan environment we nd ourselves in, the debt ceiling was not raised? Where would the rst impacts be felt? What would happen to Jackson Hataway, President and CEO, Missouri Bankers Associationa banking system still dealing with ripple eects from the failures of Silicon Valley Bank and Signature Bank if securities were suddenly downgraded? What if consumers here and abroad lost condence in the U.S. economic system? Are we prepared for that to happen? Do we even know how to prepare for that to happen?As far from reality as those concerns may seem in hindsight, you should note that the nal vote counts on the debt ceiling agreement in both the House and Senate was far from unanimous. In fact, both chambers saw members of the Missouri delegation vote no on the agreement, including both of our senators. e dissenting votes have valid concerns around spending levels, communities in Missouri that could be aected by proposed cuts and, of course, ination. ankfully for our industry, the debt ceiling was raised, and the next impasse on that topic is several years away. However, the more important factor we should all incorporate into our risk assessment processes as bankers is that nothing is impossible in the modern political environment. As a result, our perspectives on risk must be much broader than at any point in history and include variables that, 20 years ago, might have seemed unnecessary. Remember at any point during the debt ceiling debate, a single member of Congress could have called to vacate the chair and forced a vote for a new House speaker — almost assuredly killing the debt ceiling agreement and forcing default.Most of what we saw over the past month was political posturing, and that will always be the case when the media is laser-focused on an issue. I hope that posturing is all we have to deal with in the future. at said, I think we must be wise enough to realize that the environment we are in is not one in which logic rules. If that were the case, regulators would be focused on safety and soundness, not on ancillary issues that take their eyes o the ball. e same is true in Congress. We must be prepared for any eventuality so that we can help our customers maintain their condence in our banks, no matter what happens federally or around the country. at means playing a lot of “what if,” but that’s a far better game than “I wish we had.” SAVE THE DATEMBA Washington VisitOctober 15-18, 2023Tentative ScheduleSunday, October 15, 2023• Travel DayMonday, October 16, 2023• ABA Briefing• Regulatory Meetings• Possible Hill Visits• Group DinnerTuesday, October 17, 2023• Regulatory Meeting• Possible Hill Visits• Dine-Around DinnersWednesday, October 18, 2023• Regulatory Meeting• Adjourn and Travel Day THE MISSOURI BANKER 5
America’s Banks are Stronger TogetherABA PerspectiveRob Nichols, President and CEO American Bankers AssociationThe U.S. banking system has long been the envy of the world. e reasons for this are many but at the core, it’s because our nation has cultivated a vibrant, thriving nancial services sector made up of banks of all sizes, charters, business models and risk proles. Each one of these institutions has an important role to play in the overall economic ecosystem: from the community bank guiding a family through the purchase of a rst home, to the midsize bank helping a small business manage its cashows, to the regional bank providing commercial loans to promote the building of new retail centers and oce spaces, to the large, globally active institution that supplies credit to multinational rms that provide thousands of jobs in the U.S. e breadth and diversity of our nancial services sector is something no one should ever take for granted. at’s why the American Bankers Association joined forces with the nation’s 51 state bankers associations to deliver a powerful message to members of Congress in the aermath of the Silicon Valley Bank and Signature Bank failures in March: the U.S. banking system remains the deepest and most resilient in the world, and policymakers in Washington need to keep it that way for the good of the country. at message continues to hold true in the wake of the unfortunate failure of First Republic Bank in early May. e sudden and swi collapse of these institutions is something that both banks and bank policymakers can and must learn from. But in recent days, there have been some in Washington who have seized this opportunity to advance misguided policy proposals — many of which have nothing to do with the failures of these banks. ese include proposals that would make it signicantly harder for community banks to compete and new capital requirements for larger banks that would limit their ability to lend at a time of economic uncertainty. e policy response to these failures should not place America’s competitive, thriving banking system at risk. Rather, we must seek solutions that preserve that competitive landscape and ensure that banks of all sizes with diverse business models are allowed to compete and succeed in serving the needs of their communities. 6 mobankers.com
America’s Banks are Stronger TogetherTo achieve that goal, we all must stand together as an industry and resist eorts to divide us. Past experience has taught us that we are stronger and most eective in our advocacy when we speak with one voice and that there The Max & Cindy Cook Endowment for Advocacy and Leadership TrainingIf you would like to make a contribution, please scan this QR code. We greatly appreciate your support!can be harmful consequences when we don’t. In the days to come, there will be many conversations about the future of banking regulation, about potential changes to the deposit insurance system and what we can do to preserve the depth and diversity of our banking system. By speaking with a united voice on these and other issues, we can move our industry forward and work with policymakers to understand what happened at SVB, Signature and First Republic, but, even more importantly, we can reinforce the overwhelming strength and resilience of the U.S. banking sector and li up the work our nation’s banks do every day to make our communities better. Email Rob Nichols at rnichols@aba.com. THE MISSOURI BANKER 7
Department NewsWith the 2023 legislative session now concluded, I am incredibly excited to report that this was one of the most productive years in recent memory. Seven provisions supported by MBA are on the governor’s desk awaiting his signature! What makes this even more impressive is that just 37 policy bills made their way through the legislative process.MBA did not accomplish this alone. ere are many people to thank for such a successful session, including so many of our member bankers. We had nearly 150 Target Banker participants throughout the legislative session. at’s 150 voices speaking directly to their lawmakers about legislation, which has a huge impact on the outcome of our success!Others to thank include our bill sponsors and committee chairs — Sen. Sandy Crawford, R-Bualo, and Rep. Michael O’Donnell, R-St. Louis, — who all play a major role in guiding legislation through the process. If you know them or see them around the state, please reach out to thank them for their eorts. GOVERNMENTAL RELATIONSMBA Wraps Up a Successful 2023 State Legislative SessionBy David Kent, Senior Vice PresidentA few highlights among the bills passed by the Missouri General Assembly follow.• Destroying, stealing or installing a skimming device on a teller machine is now a felony penalty. is is intended to deter this type of criminal behavior, which has been on the rise recently in Missouri. anks to Sen. Justin Brown, R-Rolla, and Rep. Rick Francis, R-Perryville. • Clarication of credit card lending law to ensure Missouri banks that issue their own credit cards and adopt a bordering state’s credit card lending law are allowed to adopt the full terms and conditions of that state. Current law is unclear, which led to at least one lawsuit against an MBA-member bank. anks to Sen. Crawford and Rep. Bill Owen, R-Springeld.A full list of MBA-supported bills that passed is available at mobankers.com.e governor has until July 14 to sign, veto or allow legislation to become law. New laws become eective Aug. 28, unless passed with an emergency clause or other specied date. MBA will keep you apprised on Gov. Mike Parson’s legislative actions.Again, thank you for all your eorts to make this a great legislative session. We look forward to seeing you in the interim, either in your bank or at MBA events! MBA Senior Vice President David Kent and MBA Vice President Emily Lewis highlight MBA-priority bills that were passed by the Missouri General Assembly and the vital role that MBA-member banks played during this legislative session 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 SESSION8 mobankers.com8 mobankers.com
MBA is tracking the following cases in which a state or federal agency acted without prior notice to change longstanding practices or took arbitrary action against a regulated company or bank. FDIC Position on NSF FeesMBA and other state banking associations are considering a legal challenge to the Federal Deposit Insurance Corporation’s position taken in bank examinations and guidance that nonsucient funds fees for items that are represented but relate to a single transaction are not permitted under longstanding account agreements. Minnesota Bankers Association has engaged counsel to prepare for a potential challenge. Missouri DOR Change, Denial of REIT Dividend DeductionAn appeal concerning dividends from real estate investment trusts is pending with the Administrative Hearing Commission in Great Southern Bancorp Inc. v. Director of Revenue. e AHC ruled April 23 on a discovery motion led May 31, 2022. Some MBA members claim the REIT dividend received a deduction for decades. e Missouri Department of Revenue changed its position without legislation or rulemaking. MBA will support our industry on any appeal taken on the decision. CFPB Funding MechanismOn Oct. 19, 2022, the 5th U.S. Circuit Court of Appeals held that Congress abdicated its Article I appropriations power under the U.S. Constitution when it authorized the Consumer Financial Protection Bureau to determine its own budget and to independently appropriate its own funding by a direct levy on the Federal Reserve System, violating separation of powers established under the Constitution. Community Financial Services Assoc. of America v. CFPB (or CFSA v. CFPB) has been taken up by the U.S. Supreme Court for review (granting certiorari). e court is likely to hear arguments this fall. CFPB UDAAP Examination Manual Changee American Bankers Association, Texas Bankers Association, U.S. Chamber of Commerce and others led a complaint LEGALCourt Cases Compel Goernment to Follow Rule of Law By Keith Thornburg, Vice President and General CounselSept. 28, 2022, in U.S. District Court for the Eastern District of Texas alleging the agency bypassed proper administrative procedures to implement provisions of the Dodd-Frank Act proscribing unfair, deceptive or abusive practices (Chamber of Commerce, et al., v CFPB, et al.). e CFPB is attempting to extend UDAAP to “discriminatory” practices, which are typically proscribed under specic laws enacted by Congress, including the Equal Credit Opportunity Act. e CFPB’s actions are alleged to be beyond the scope of Dodd-Frank, as well as faulty for failure to follow authorized procedures.Parties have led cross-motions for summary judgement. CFPB also has requested the court to stay a decision on certain issues presented in this case, pending a Supreme Court ruling in CFSA v. CFPB on whether the CFPB’s status and funding is unconstitutional.CFPB Rule Implementing Section 1071 On April 26, 2023, the Texas Bankers Association and Rio Bank led a complaint in U.S. District Court for the Southern District of Texas challenging the CFPB’s nal rule under Section 1071 of the Dodd-Frank Act. Section 1071 amended the Equal Credit Opportunity Act to impose signicant data collection and reporting requirements on small business creditors. TBA relies signicantly on CFSA v. CFPB.With more than 80 reporting requirements, the rule will require substantial processes and compliance mechanisms. e costs and inconvenience to customers will be signicant. More concerning is that the potential use and misuse of the data by the agency will disrupt and undermine banking relationships. ABA has intervened in the case, Texas Bankers Association et al. v. Consumer Financial Protection Bureau, to support the banking industry nationally in this challenge. SummaryGovernment tax and regulatory agencies are acting without proper legal authority or due process. ese suits not only seek to reverse the actions taken but to compel the government to follow the rule of law. THE MISSOURI BANKER 9
Department NewsCOMPLIANCEAdvertising Annual Percentage Yields By Gina Jolly, CRCM, Vice President of Compliance ServicesIn this rate environment, more banks are advertising to attract deposit customers. Banks want to ensure they adhere to the advertising requirements in Regulation DD and avoid misleading statements or omissions. Regulation DD broadly denes an advertisement as a commercial message in any medium that promotes directly or indirectly (1) “the availability or terms of, or a deposit in, a new account” and (2) for purposes of §1030.8(a) and §1030.11, “the terms of, or a deposit in, a new or existing account.”Section 1030.8(b) restricts the use of rates in advertisements. If an advertisement states a rate of return, the rate must be identied as an “annual percentage yield” (using that term). No other term can be used except for “interest rate,” provided it is stated in conjunction with the annual percentage yield. e abbreviation “APY” may be used if the term “annual percentage yield” is stated at least once in the advertisement. Oen, advertisements will use the abbreviation in the text of the advertisement and direct the consumer to the bottom of the advertisement for the expansion of the abbreviation. If the annual percentage yield is stated in an advertisement, §1030.8(c) requires that the following additional disclosures be made clearly and conspicuously. • Variable Rates — for variable-rate accounts, a statement that the rate may change aer the account is opened • Time Annual Percentage Yield is Oered — the period of time the annual percentage yield will be oered or a statement that the annual percentage yield is accurate as of a specied date • Minimum Balance — the minimum balance required to obtain the advertised annual percentage yield; for tiered-rate accounts, the minimum balance required for each tier shall be stated in close proximity and with equal prominence to the applicable annual percentage yield • Minimum Opening Deposit — the minimum deposit required to open the account, if it is greater than the minimum balance necessary to obtain the advertised annual percentage yield • Eect of Fees — a statement that fees could reduce the earnings on the account • Features of Time Accounts• Time Requirements — the term of the account • Early Withdrawal Penalties — a statement that a penalty will or may be imposed for early withdrawal • Required Interest Payouts — for noncompounding time accounts with a stated maturity greater than one year that do not compound interest on an annual or more frequent basis, that require interest payouts at least annually and that disclose an APY determined in accordance with Section E of Appendix A of the regulation, a statement that interest cannot remain on deposit and that payout of interest is mandatoryIf a bonus is involved, additional requirements apply. ere also are some exemptions for broadcast media (television or radio), outdoor media (billboards) and telephone response machines. See 1030.8 for more information. Advertising compliance requires an eective compliance program as administrative penalties for noncompliance could include consumer reimbursement, cease and desist orders, civil money penalties and/or downgrades in the bank’s compliance rating. 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
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 Accident800-234-4939 mobankers.comDiscover what these MBA ENDORSED PARTNERS can achieve for your bank.For more information, visit mobankers.comCyberSecurity THE MISSOURI BANKER 11
Next Generation in Banking2023 Teach Children To Save Winners CEDAR RIDGE ELEMENTARY SCHOOL, BRANSON CENTRAL BANK OF BRANSONNext Generation in Banking hosted its Teach Children To Save 2023 Challenge in April.MBA-member banks participating in the challenge were automatically entered into a drawing to win $250 from MBA for a school or community youth organization bysharingphotos of their visits on their banks' Facebook, Twitter or Instagram accounts and tagging MBA. The winning banks also had the opportunity to match theamount.JUNIOR ACHIEVEMENT IN SOUTHEAST MISSOURI FIRST MISSOURI STATE BANK, CAPE GIRARDEAUHERMANN ELEMENTARY SCHOOL PEOPLES SAVINGS BANK, HERMANNST. JOACHIM CATHOLIC SCHOOL, CADET BELGRADE STATE BANK, POTOSI12 mobankers.com
MBA’S 2023 LENDING & CREDIT CONFERENCEMargaritaville Lake Resort Osage BeachJuly 27 & 28, 2023August 10-11Margaritaville Lake Resort Osage Beach, MOBanking on Women Conference THE MISSOURI BANKER 13 THE MISSOURI BANKER 13
Cover StoryBy Lori Bruce, Director of CommunicationsJackson Hataway gazed in amazement as he stood before the B-2 stealth bomber in the hanger at Whiteman Air Force Base in Knob Noster. As the base commander shared details about the B-2 with the Missouri Bankers Association’s Banking Leadership Missouri class, Hataway imagined what it would be like to y the B-2 compared to his small single engine airplane. Being a pilot is one of his passions, and he constantly seeks new missions to y.at enthusiasm fuels Hataway as he takes o as MBA’s new president and CEO.In June, Hataway became just the seventh individual to lead MBA in its 133-year history. Early in his career, however, Hataway didn’t envision this career path.Jackson Hataway sets his course at MBA Taking Flight 14 mobankers.com
“I didn’t even consider an association as the end destination for me,” he said. “I thought I would be a partner in a consulting firm.”Hataway was a consultant and principal consultant with Strategic Arts and Sciences for 10 years. He served as a strategist and communications professional for numerous financial institutions, banking/trade associations and other for-profit and nonprofit organizations. “I worked with wonderful people as a consultant,” Hataway said, “but the travel load was remarkably intensive as I was traveling more than 230 days a year. It was time to make a change and find a way to plant roots to be with family more and to be closer to home.”Unbeknownst to Hataway, former MBA CEO Max Cook also was considering his future at the same time. Cook, who was nearing 30 years with the association, heard Hataway speak at the 2019 Central States Conference in Dublin, Ohio, and approached him after his session.“It was just a fortune moment,” Hataway said. “I had been playing out in my head what the future held in my consulting role and when Max talked to me at the conference, I instantly thought ‘That’s it!’ My wife’s family is from Jefferson City, and it was a great opportunity to land in a place she calls home and that I’m happy to call home.”Hataway joined MBA in November 2019 as senior vice president of communications, marketing and member services. He enjoyed working in an office again and meeting his co-workers as he began to see association operations from the inside as an employee, not a Taking Flight THE MISSOURI BANKER 15
“One of the things I’ve been most impressed by is the people we have here at MBA and their passion for this industry,” said MBA President and CEO Jackson Hataway, whose goal is to generate excitement about what MBA and its members can accomplish together.consultant. That changed in mid-March 2020 when MBA staff began working remotely because of the COVID-19 pandemic.“I was immediately taken away from the group of people who I was working with and getting to know,” Hataway said. “It was surreal to work from home, but it was an opportunity for staff to work closer together because we were constantly talking to each other and working together. I think my relationships with the staff actually blossomed over the course of time as a result.” Hataway was instrumental in spearheading the association’s outreach to banks about the Paycheck Protection Program and ensuring MBA continued to provide exceptional educational programs and services to its members during the COVID-19 pandemic. In June 2020, he was promoted to executive vice president and was named MBA president in April 2022, succeeding Cook.“It is an honor to follow Max, and I want to build upon the legacy and the strength of the association that he has built over the last 32 years,” Hataway said.For this to happen, the association must continue to evolve as it launches new services, products, technologies and delivery systems that members will find valuable for their customers, their employees or their own operational use.“Our goal is to continually find new ways to add value to all banks — small, medium and large — across the state of Missouri, even as we continue to carry out our core mission of advocacy,” Hataway said. Hataway understands engagement is necessary for MBA to have a strong voice for the banking community, and that engagement is a two-way street.16 mobankers.com
the state level, we have strong representation from the Missouri Senate and House banking committees. I’m very proud of our state legislative accomplishments, particularly those from this year’s session.”As Hataway embarks on his first year in leading MBA, his main goal is to generate excitement about what MBA and its members can accomplish together.“I want everybody to feel the same enthusiasm for our industry that we feel around MBA,” Hataway said. “One of the things I’ve been most impressed by is the people we have here at MBA and their passion for this industry. I want to make sure that our passion is communicated with our members — we want people to be excited about the state of banking in Missouri, the future of banking in Missouri and what we as a community of bankers can do together.” “Our members can expect transparency from me,” he said. “They will know what MBA is doing and why we are doing it.“Our job is to be their advocate; that’s what we’re here for,” Hataway added. “I believe we are the best at doing that, but that’s contingent on knowing what’s happening with our bankers. We need to know what they’re thinking and experiencing, and the only way we’ll know those things is if they tell us.”The engagement with bankers serves a key role in the association’s advocacy initiatives at both the state and federal levels. Hataway notes Missouri is one of the strongest banking states in the country and that MBA members must be at the forefront of conversations with both lawmakers and regulators.“Our U.S. House delegation has significant roles on committees that are critically important to our industry and our state,” Hataway said. “At 6 ings AboutJackson Hataway1Michelle, his wife, is the acting director for the Missouri Department of Economic Development. They have two children, Jack and Gabrielle, and a dog, Cooper.2An Alabama native, Jackson embraces all things Alabama — football, basketball, baseball — anything that prompts him to shout, “Roll Tide Roll!”3Jackson earned his bachelor’s, master’s and doctoral degree in communication and information sciences from the University of Alabama in Tuscaloosa.4Hobbies are golf, ying, playing guitar, kids’ activities and “super nerdy stuff.”5Book recommendations include “Good to Great” by Jim Collins and “It’s Your Ship” by Captain D. Michael Abrashoff. 6Favorite podcasts are “Hardcore History,” “SmartLess,” “Science Friday” and “Sean Carroll’s Mindscape: Science, Society, Philosophy, Culture, Arts and Ideas.” THE MISSOURI BANKER 17
Guest CommentaryBy Danielle Austin-Rios, CAMS, AbrigoNew MBA Endorsed Partner Abrigo Offers Solutions to Aid Missouri Banks Missouri Bankers Association has endorsed Abrigo’s portfolio risk, lending and credit, and nancial crime products to aid its members in loan origination, enhancing credit analysis, optimizing their portfolio risk and ghting nancial crime.Along with Abrigo’s soware solutions, Abrigo’s advisory services also are gaining the support of MBA. Abrigo currently provides guidance to thousands of institutions every year in fraud, portfolio risk, asset/liability management and anti-money laundering.“We are excited about this opportunity to endorse Abrigo’s solutions for MBA members,” said MBA President and CEO Jackson Hataway. “Abrigo’s services and products will help our members enhance their nancial services for their customers.”More than 2,500 community nancial institutions currently rely on Abrigo’s soware to help maintain compliance requirements, automate important processes and drive data-based decision-making. “It means a great deal to us to gain the acknowledgment and trust of industry leaders like the Missouri Bankers Association,” said Abrigo CEO Jay Blandford. “Ultimately, our goals are comparable — to serve community nancial institutions by providing the best tools we can to help them succeed.”Abrigo also is a leader in the thought leadership space, in addition to their soware and advisory services, publishing blogs and articles on the latest industry topics. Its recent article on de-risking SARs covers how and when to end the relationship with a customer that has repeated suspicious activity report lings.Many AML professionals have been in a scenario like this: they have identied potentially suspicious nancial activity, investigated it and reported it by ling a SAR. e SAR ling goes to FinCEN, and the 90-day wait period begins before the next SAR review is due. Continued suspicious activity is detected, and a supplemental SAR is led. But the cycle simply continues — aer 90 days pass, another SAR is led and then another. 18 mobankers.com
A robust AML/CFT program should include procedures for when and how to exit a relationship with a SAR subject. But when and how to end a banking relationship is a risk-based decision unique to each nancial institution. Consider these best practices to build exit strategies into your SAR relationships. 1. Correctly identify and le supplemental and continuing activity SARs. 2. Determine criteria for exiting a repeat SAR subject. 3. Determine an appropriate timeline for your institution to exit a repeat SAR subject.4. Determine which departments are needed for cross-functional support and engage those department leaders to facilitate the account closure process.5. Engage the legal department to dra an account closure letter for relationships closed for AML/CFT reasons.6. Develop and train customer-facing employees to handle ending banking relationships. 7. Assist other departments in developing procedures for the account closure and exiting process.Enacting processes and procedures to end banking relationships can be time-consuming, but building exit strategies into your program now will save time in the future on potential investigations and SAR lings for repeat accountholders. A solid plan for exiting repeat SAR subjects is critical. It can spare the institution from risks associated with AML/CFT-related oenses, such as hard dollar losses and the reputational risk of having relationships with known or suspected criminals. Danielle Austin-Rios, CAMS, is a senior risk management consultant for Abrigo. More than 2,500 community nancial institutions currently rely on Abrigo’s portfolio risk, lending and credit and nancial crime software to help maintain compliance requirements, automate important processes and drive data-based decision-making. Abrigo’s platform centralizes the institution’s data, creates a digital user experience and delivers efciency for scale and protable growth. Abrigo’s team of industry experts can give your institution guidance needed to stay on the path towards increased protability. From portfolio risk and CECL to BSA/AML, our advisory services team helps you solve problems. Learn more at Abrigo.com. Abrigo is an MBA endorsed partner. THE MISSOURI BANKER 19
Guest CommentaryBy Greg Omer, Armstrong TeasdalePlanning for the Improbable: Protecting Uninsured Bank Deposit Funds“There’s only two things you can start without a plan: a riot and a family. For everything else, you need a plan,” said late American humorist Groucho Marx.Maybe bank runs could be added to that list of unplannable events.However, a plan is exactly what many banks are oering nervous customers looking for ways to protect their uninsured deposit funds in response to the unrest caused by the bank runs on Silicon Valley Bank and Signature Bank.Although federal authorities instituted “systemic risk” powers to guarantee all deposits at Silicon Valley and Signature upon failure, those same authorities have indicated such guarantees will not be the norm for every bank failure and, of course, the size alone of most banks would not trigger “systemic risk” powers.1Similarly, although JPMorgan Chase agreed to assume all deposits of First Republic Bank upon its recent failure, a May 2023 report from the Federal Deposit Insurance Corporation illustrates that uninsured depositors can incur — and historically have incurred — losses when the buyer of a failed bank does not assume their deposits.2Since these failures, bankers and their customers across the U.S. have been parsing through current options available to protect uninsured bank deposit funds — including the risks and costs involved.ACCOUNT OWNERSHIP TITLING CHANGES TO EXPAND INSURANCEWith regard to personal and estate planning deposit accounts, FDIC rules allow account ownership to be structured in ways that can signicantly expand the standard $250,000 coverage level by retitling those accounts in dierent “ownership categories.”3 Simply adding “payable-on-death” beneciaries can multiply coverage, depending on the number of beneciaries and other factors. ese options usually have minimal to no cost involved. For a summary of these options, visit the “Resources” section at fdicgo.4REPURCHASE AGREEMENT INTERNAL SWEEPSMany banks oer overnight “repurchase agreement sweep programs” in which uninsured deposit account funds can be automatically transferred at the end of each banking day from the deposit account and invested in U.S. treasury bonds (or other qualifying debt securities) sold by the depository bank to the customer. At the start of the next banking day, the bonds are automatically sold from the customer back to the bank, 20 mobankers.com
and the sale proceeds are transferred back into the customer’s deposit account for use that banking day. e process can repeat each banking day, so the customer has access to the funds before the sweep at the end of each day.is option usually involves some cost to the customer and somewhat complicated legal documentation. Under FDIC rules, in the event of a bank failure, if the sweep arrangement has been “properly executed” and the customer has obtained legal ownership or a perfected security interest in the bonds, then the customer has legal rights to those bonds, and the funds invested in those bonds are not subject to loss as uninsured deposits.5 Business customers commonly use overnight repurchase agreements to protect uninsured funds in operating accounts.FDIC has cautioned some repurchase agreement documenta-tion used by banks does not adequately convey legal ownership or a perfected security interest to the customer, which defeats the program’s entire purpose.6 Banks should take steps to ensure the legal documentation complies with FDIC rules.EXTERNAL MULTIBANK DEPOSIT SWEEP PROGRAMSAnother common tool to protect uninsured deposit funds involves an external sweep of funds from a deposit account at the customer’s primary bank into deposit accounts at a series of other banks linked together in a program. e amounts transferred to each “program bank” are normally limited to $250,000. Customers are usually allowed to instruct the program administrator not to transfer funds into deposits at certain program banks in which the customer already has deposit funds to avoid aggregation of all those funds, resulting in a deposit amount exceeding the FDIC insured amount.ese programs typically involve some cost to the customer. Unlike internal sweeps, external sweeps can involve risk that upon a bank failure, FDIC would not allow the external transfer of funds to the program banks if that transfer was set to occur later that same banking day.7 Such a prohibition would expose the unswept funds to loss as uninsured deposits. e level of this risk would depend on various factors, including how oen the sweeps occur, the amounts involved and the timing of the sweeps and FDIC closure of the bank.OTHER EXTERNAL SWEEPSMany banks also oer other types of external sweeps of uninsured deposit funds in which uninsured funds are swept out of a bank deposit account and into another type of investment outside the bank, such as a money market mutual fund. ese arrangements also usually involve some cost to the customer and the same type of risk previously explained that the FDIC would disallow an external sweep to occur aer a bank failure earlier the same banking day.8POTENTIAL CHANGES TO DEPOSIT INSURANCE SYSTEMA recent FDIC report presented various options to expand or revamp the current U.S. deposit insurance system, including insights about the positive aspects and negative fallout likely associated with each option.9 Banks and depositors should stay tuned to see if any such options are adopted into law and their potential impact. In the meantime, although we won’t know when or how the next banking crisis will unfold, banks and their customers can do some planning within the current deposit insurance system to be ready for the impact. 1“Not all deposits at other banks are guaranteed, Yellen tells Congress,” American Banker, March 16, 2023.2Options for Deposit Insurance Reform, Federal Deposit Insurance Corporation, May 1, 2023, pgs. 25-26.312 CFR Part 330.4FDIC also provides an “electronic deposit insurance estimator” at https://edie.fdic.gov/calculator.html.5See 12 CFR 360.8 and FDIC Financial Institution Letter 39-2009 (July 6, 2009).6See FDIC Financial Institution Letter 9-2009 (Feb. 4, 2009).7See 12 CFR 360.8; FDIC Financial Institution Letter 39-2009, Question No. 6, (July 6, 2009); and 74 Fed. Reg., 5800-5802 (Feb. 2, 2009).8Id.9Options for Deposit Insurance Reform, Federal Deposit Insurance Corporation, May 1, 2023.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 rms and chief counsel for the Missouri Division of Finance. Learn more atarmstrongteasdale.com. Armstrong Teasdale is a MBA associate member. THE MISSOURI BANKER 21
Guest CommentaryBy Stephanie Kalahurka, Fenimore Kay Harrison LLPOn March 30, the Consumer Financial Protection Bureauissued its nal rule implementing changes to the Equal CreditOpportunity Act under Section 1071 of the Dodd-Frank Act.enal rule requires banks to collect and report sensitive dataabout “small business” applicants for credit, which includesany business that had $5 million or less in gross annual revenuefor its preceding scal year. When implemented, the nal rulewill require banks to collect 20 separate data points on coveredsmall business loan applications, including the minority-ownedstatus of the business.Much of the attention given to the nal rule has focused onthe administrative burden of the data collection and reportingrequirements for banks and their customers. Although theseaspects will be onerous, community banks should be far moreconcerned about how data collected under the nal rule willbe used in fair lending examinations. If the data is used inthe way that the CFPB has stated — to identify unexplaineddiscrepancies and to facilitate fair lending enforcement —the nal rule has potentially devastating implications forcommunity banks and their customers to undermine therelationship lending model. e nal rule is likely to removeloan ocer discretion from small business loan pricingand underwriting, eliminating the strategic advantage thatcommunity banks have, to customize loans to the individualneeds of a particular small business.UNDERSTANDING THE REGULATORY PROCESSFOR FAIR LENDING EXAMINATION ANDENFORCEMENTWithin the current regulatory policy, a pattern or practice ofdiscrimination does not require any evidence of discriminatoryintent. Many fair lending violations are supported only bystatistical evidence and data. e data collected under the nalrule will be used to support ndings of ECOA violations basedon “disparate treatment.”Disparate treatment occurs when a lender treats a creditapplicant dierently because of a prohibited basis, such asrace, age or gender without regard to whether the treatmentwas motivated by prejudice or a conscious intention todiscriminate. Because the current regulatory standard requiresonly a showing of dierence in treatment, the regulatormay then presume that dierence is due to protected classstatus, potentially resulting in a fair lending violation. isstandard places the burden on banks to prove the absence ofdiscrimination. e regulators reinforce their 20/20 hindsightwith statistical techniques that may be skewed by the biases oflimited sample size and omitted variables.CFPB SmallBusiness LendingCollection Data Rule Has PotentiallyDevastating EnforcementImplications22 mobankers.com
Statistically driven fair lending enforcement for consumer lending has contributed to the adoption and use of uniform credit terms and underwriting criteria with no lending ocer discretion. is also includes mortgage loans, for which uniformly reported data (e.g., HMDA data) identies the applicant’s minority status. e statistical approach to fair lending enforcement has not previously weighed on small business loans, largely because the testing data was not as uniform or readily available. With the CFPB’s nal rule, that is about to change.IMPLICATIONS FOR THE FINAL 1071 RULE AND LENDING ENFORCEMENT Regulatory agencies will use the new data to identify protected class status of small business loan applicants and identify apparent class disparities in underwriting or pricing small business loans. Under current examination guidelines, the regulator’s determination of whether borrowers who are “similarly situated” suer disparate treatment may depend solely on reported data points even when the lending relationship and management of risk are much more complex. e regulators’ data-driven approach to fair lending enforcement has forced banks of all sizes to use stringent underwriting metrics and pricing guidelines for consumer loans. e risk of unexplained disparities has eliminated most loan ocer discretion from the consumer lending process. A commoditized and formulistic approach to consumer lending may not materially hamper a bank’s ability to serve its customers or to underwrite credit in a safe and sound manner. But does this translate for commercial loans?Community banks and small businesses benet mutually under a relationship model compared to larger banks that tend to have stricter, uniformly applied underwriting criteria and centralized decision-making. e large bank model can leave small businesses underserved and without access to credit. Community banks have been able to ll this gap by taking a more qualitative approach, recognizing the individualized characteristics presented by a small business and the unique community factors that shape the business plan. e regulatory and policy risks of the 1071 rule for fair lending could strip community banks’ ability to consider intangible relationship and community factors — forcing community banks to adopt the large bank model. Traditional, community bank relationship lending based on nondiscriminatory, and oen intangible, factors allow for the lender’s personal knowledge of both their customer and their community to be leveraged. ese factors cannot be captured and adequately reported in the data points under the nal rule. ese factors then cannot be accurately quantied and accounted for in the statistical models currently used for fair lending analysis. Fair lending risk will cause community banks to adopt less exible and oen less favorable terms for their small business customers to avoid the inevitably of having to answer for “unexplained disparities” in loan data. Do our customers benet from a level of protection that could result in a denial of access or to less favorable terms?CONCLUSION AND RECOMMENDATIONSAt the end of the day, the implementation of data-based fair lending enforcement could have the consequence of “protecting” many small businesses by denying them broad access to lower-cost, more individualized commercial credit. Community banks will be further disadvantaged and diminished. Lawmakers and the federal banking agencies should be encouraged to consider the consequences of the nal rule and, at a minimum, adjust examination and enforcement policies to preserve relationship-based lending in community banks. Stephanie Kalahurka is an equity partner with the law rm of Fenimore Kay Harrison LLP. She has twenty years of experience representing nancial institution clients in corporate and regulatory matters. Stephanie also previously served as a Financial Examiner for the Texas Department of Banking, a Professor of Banking Law at The University of Kansas, and as an editor for The Banking Law Journal. Learn more at fkhpartners.com. Fenimore Kay Harrison is an MBA associate member. THE MISSOURI BANKER 23
BANCMACCOMMUNITY BANC MORTGAGE CORP.YOUR COMMUNITY BANK MORTGAGE PARTNERbancmac.commortgages@bancmac.com888.821.7729|NMLS# 571147BancMac provides correspondent 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 CORRESPONDENTS RECEIVE:• Superior Service & Competitive Pricing• No Minimum Volumes• Significant, Non-Interest Fee Income• Non-Solicit Protections & MoreWHY?Lending ServicesOperational ServicesAudit ServicesWe are very fortunate to have Andrew Lee with MIB as a trusted partner in these ever-changing times. MIB has the technology and experience to lead us into the future. The electronic banking site is easy to navigate; and the friendly, knowledge-able sta are always there to assist at any time. It is important to feel secure with the people you do business with and MIB has proven that over the numerous years we have done business together. Curt Brumley, President/CEOCommunity Point BankRussellville, MOAndrew LeeCurt Brumley800-347-4MIBmibanc.comMEMBER FDICMBA 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.24 mobankers.com
Around the StateAdrian Breen CEO/President e Bank of Missouri, PerryvilleAdrian Breen, chairman-elect of MBA’s Board of Directors, has served as a director since June 2019. Breen joined e Bank of Missouri in February 2017. He is the president of Reliable Community Bancshares Inc., the holding company for e Bank of Missouri. With nearly 35 years of banking experience, Breen is a sixth-generation banker who began his career in Cincinnati and has worked in numerous nancial roles with regional banks and community banks in Ohio and Nebraska. Breen has served on MBA’s Board of Directors since 2019, MBA’s River Heritage PAC Committee and Strikeforce Grassroots Team. He is a member of the American Banking Association’s Government Relations Council and the Barret Graduate School of Banking in Tennessee.David Gohn President/CEO West Plains Bank and Trust CompanyDavid Gohn has served as president/CEO of West Plains Bank and Trust Company since 2017. He joined the bank in 2005 aer serving as an associate attorney with Husch and Eppenberger LLC (now Husch Blackwell) in Springeld. In 2009, Gohn was named the bank’s president and chief operating ocer. Gohn previously served on MBA’s Board of Directors and was MBA treasurer in 2021. He has chaired MBA’s Budget and Audit Committee, the Young Bankers Leadership Board of Directors and the VEBA Board of Trustees. He also served a three-year term on the American Bankers Association’s Community Bankers Council. Patrick Kussman President and CEO Regional Missouri Bank, Marceline Patrick Kussman currently represents Region 2 on MBA’s Board of Directors and has served as a director since June 2020. His roles and responsibilities have expanded tremendously with promotions throughout his banking career, and each accomplishment was withRegional Missouri Bank. Kussman joined the bank in 2002 as a bank ocer, consumer and ag lender, and he has been involved with the conversion, acquisition, merger and start-up of six branches. He has served as assistant vice president, vice president and executive vice president. He was named bank president and chief operating ocer in 2010. Kussman has served on the bank’s board of directors since 2008 and was named CEO in 2017. He has served on MBA’s Budget and Audit Committee, Bankers Service Corporation Board and VEBA Board of Trustees. Breen, Gohn, Kussman Nominated for MBA Ofces The Missouri Bankers Association is pleased to announce the nominations of Adrian Breen, David Gohn and Patrick Kussman to serve as chairman, chairman-elect and treasurer, respectively, of the MBA Board of Directors. They were selected by MBA’s Nominating Committee and will stand for election in June at MBA’s 132nd Annual Convention and Trade Show in Branson. If elected, their terms begin in June. THE MISSOURI BANKER 25
Around the StateREGION 2 Brian Alderton, Peoples Bank of Wyaconda, Kahoka Brian Alderton is executive vice president/co-CEO of Peoples Bank of Wyaconda. A third-generation banker, Alderton joined the bank in 1988 and worked for his father, David Alderton Sr. During the 1990s, Alderton took on more lending roles and responsibilities at the bank. He attended MBA’s banking schools before completing the Graduate School of Banking at the University of Wisconsin — Madison. Alderton previously chaired MBA’s Board of Trustees for Banking Education. REGION 3 Jacob Wilson, Bank of Weston, Kansas City Jacob Wilson is CEO/president of Bank of Weston. He joined the bank in May 2015 as business development ocer and later was named assistant vice president and vice president. In January 2022, he was named bank CEO/president. A graduate of MBA’s Banking Leadership Missouri program, Wilson has participated in the association’s annual Washington Visit and has served on the Executive Management Committee.REGION 1 Cort Hegarty, Nodaway Valley Bank, St. Joseph Cort Hegarty is president and chief operating ocer of Nodaway Valley Bank in St. Joseph. Hegarty joined the bank in 2003 and was named to his current roles in 2015. He has served on the bank’s board for 20 years. A lifelong resident of northwest Missouri, Hegarty is celebrating 40 years in banking in 2023. He has served on MBA’s Government Relations Committee and Pony Express PAC Committee.MBA Welcomes Bankers to Board of DirectorsThe Missouri Bankers Association is pleased to welcome these bankers to the MBA Board of Directors. These bankers were elected by their peers at the 2022 MBA Executive Management Conference to serve as regional directors on the board. Their three-year terms begin in June. 26 mobankers.com
REGION 5 Matt Laumann, Farmers & Merchants Bank, St. Clair Matt Laumann is president/CEO/board chairman of Farmers & Merchants Bank in St. Clair. He joined the bank as a residential lender in 2007 and was named branch manager. Laumann was promoted to chief lending ocer in 2012, president in February 2015 and CEO and board chairman in September 2015. Laumann completed the Graduate School of Banking — Madison in 2011. He has served on the MBA Gateway PAC Committee.REGION 6 Brian VanFosson, Citizens Bank of RogersvilleBrian VanFosson is the president of Citizens Bank of Rogersville. He joined the bank in 1997 and was named president in 2013. VanFosson’s banking career started in 1986 as a bank examiner for the Missouri Division of Finance, and he also worked at the former Metropolitan National Bank in Springeld. VanFosson is the president of the Community Foundation of Rogersville and is currently a member of the American Bankers Association’s Community Bank Council.REGION 7 Jim Limbaugh, Montgomery Bank, Cape Girardeau Jim Limbaugh is regional president and executive vice president of Montgomery Bank in Cape Girardeau. His previous roles with the bank include chief operating ocer, president of commercial banking and regional president of the Cape Girardeau market. Limbaugh has served on MBA’s Government Relations Committee and the Ocer Nominating Committee. He currently is a board member for the Southeast Missouri State University Board of Regents in Cape Girardeau.REGION 4 Tom Klebba Legends Bank, LinnTom Klebba is president of Legends Bank in Linn. He joined the bank in 2002 as chief nancial ocer and was named president in 2018. In his banking career spanning more than 20 years, Klebba is a graduate of Banking Leadership Missouri and was chairman of the MBA Young Bankers Leadership Board of Directors. He also served on the VEBA Board of Trustees and Executive Management Committee, as well as committees for the American Bankers Association. THE MISSOURI BANKER 27
AchievementsAround the StateTom Shimmens has joined Central Bank in Jefferson City as senior vice president, business development ocer. His new role gives him the opportunity to serve Central Bank customers strictly in the business arena. He has more than 40 years of experience in the banking industry.Central Bank in Springfield promoted several sta members. Blair Gann was promoted to assistant vice president, loan ocer. Beginning her career with Central Bank in 2021, Gann facilitates custom solutions for agricultural and commercial clients in the Webster County area. Abby Glenn was promoted to assistant vice president, business development ocer. She has more than eight years of experience working with the community and is focused on assisting area businesses reach their fullest potential. Garrett Koopmann was promoted to assistant vice president, central investment advisor. With more than four years of experience in the nancial services industry, Koopmann assists clients with identifying their short and long-term goals while creating a customized investment strategy for their portfolio. Kara Turner was promoted to vice president, private banking relationship manager. She has more than 22 years of executive sales and relationship management experience and is responsible for assisting clients with their personal and commercial banking and credit needs. Tommi Campbell was promoted to branch manager of Mid America Bank in Belle. She oversees the daily operations and sales function of the branch. Campbell has 18 years of banking experience and has spent the last 13 years with Mid America Bank.Tom ShimmensBlair Gann Abby GlennMRV Banks in Ste. Genevieve promoted Pam Hopkins to senior vice president and senior administrative ocer. She joined the bank in 2007 as banking center manager and has served as BSA ocer and director of marketing and public relations. Hopkins also is the MRV board secretary, MRV Financial Corporation secretary and the Starz 50+ club coordinator. She has more than 42 years of experience in the banking industry. Heather Jokerst was promoted to senior compliance ocer. She started with MRV Banks in 2019 as a loan processor and moved to compliance in July 2020. Jokerst became a certied community bank compliance ocer in 2021. Megan Cattoor joined MRV Banks as director of marketing and public relations. Cattoor, who has more than 15 years of experience in advertising, oversees and develops all internal and external marketing eorts for the bank.Oksana Kigilyuk joined the residential lending team at OMB in Springfield as vice president, mortgage loan ocer. She has nearly 20 years of lending experience, with 13 years specializing in mortgage lending. Garrett Koopmann Kara TurnerTommi CampbellPam Hopkins Heather JokerstMegan CattoorOksana KigilyukSubmit your news! Send achievements, news and announcements to Lori Bruce, MBA communications director, at lbruce@mobankers.com for posssible inclusion in The Missouri Banker.28 mobankers.com
Calix Daultone Missouri Bankers Association established the Missouri Bankers Foundation in 1985 to provide funding for college scholarships for high school students planning to pursue banking-related college degrees. Your generosity e scholarship selection committee for the Missouri Bankers Foundation reviewed 80 applications from Missouri high school seniors. e committee members were amazed by the achievements of these exceptional students and awarded a $1,000 scholarship to the following students.• Keegan Peterson, a 2023 graduate of Chillicothe High School, will attend Northwest Missouri State University in Maryville to study accounting. Chillicothe State Bank presented the scholarship to Peterson.• Katlyn Spegal, a 2023 graduate of Kolbe Academy, will attend Benedictine College in Atchison, Kansas, to study nance or accounting. Community State Bank of Missouri in Bowling Green presented the scholarship to Spegal.• Paige Bruat, a 2023 graduate of Raymore-Peculiar High School, will attend the University of Miami in Florida to study business administration with an emphasis in nance and banking. Country Club Bank in Raymore presented the scholarship to Bruat.• Brock Schoeld, a 2023 graduate of Capital City High School in Jeerson City, will attend the University of Missouri-Columbia to study nance. Central Bank in Jeerson City presented the scholarship to Schoeld.• Leah Crawmer, a 2023 graduate of Troy Buchanan High School, will attend the University of Missouri-Columbia to study personal nance planning. e Bank of Old Monroe in Wentzville presented the scholarship to Crawmer.• Calix Daulton, a 2023 graduate of Stockton High School, will attend the College of the Ozarks in Point Lookout to study computer programming. Simmons Bank in Stockton presented the scholarship to Daulton.• Lilly Hodgkiss, a 2023 graduate of Sikeston High School, will attend Mississippi State University in Starkville to study accounting and nance. First State Community Bank in Sikeston presented the scholarship to Hodgkiss. Seven Graduates Receive $1,000 MBA Foundation ScholarshipsKeegan PetersonPaige BruatLeah CrawmerLilly HodgkissKatlyn SpegalBrock SchoeldMBA Foundation to Award InternConnect Scholarships This Fallto the Missouri Bankers Foundation helps students throughout the state pursue college degrees. Your donation to the Missouri Bankers Foundation also supports the MBA InternConnect Scholarship Program that encourages college sophomores and juniors majoring in a banking-related discipline to explore careers in the Missouri banking industry. e Missouri Bankers Foundation will award up to ve $1,000 MBA InternConnect Scholarships to college students completing an internship with an MBA-member bank. e application deadline for 2023 InternConnect scholarships is Friday, Oct. 6. Visit mobankers.com for more details. Submit your news! THE MISSOURI BANKER 29
P.O. Box 57Jeerson City, MO 65102mobankers.comPERIODICAL