The Missouri Banker November December 2024 : simplebooklet.com

Putting your institution’s best foot forward for a lower-rate environmentBy BOK Financial Capital Marketsboknancial.com/institutionsAfter transitioning from near-zero rates to one of the fastest rate-hiking cycles we’ve ever seen, nancial institutions are now in the position of waiting for rates to fall. As we wait for the Fed’s next move, it’s important for management teams to understand how lower rates will impact their institutions’ income statements and take steps to better position themselves for the lower-rate environment likely to come.Many nancial institutions funding their balance sheet shortFirst, let’s consider where we are now. Federal and consumer spending have been driving economic growth, despite the higher interest rates. This growth, in turn, has the markets thinking the Fed will delay rate cuts until later this year or possibly into 2025. Funding short has not yet worked out, with funding continuing to roll at nearly the highest cost on the curve. Coupled with continued deposit migration within the bank, cost of funds is continuing to rise at many institutions. Investment portfolio conundrumSome institutions may have decided that they’re not taking any risk by accumulating cash. However, we challenge that thought: If the Fed starts cutting rates and your institution doesn’t get a meaningful and immediate COF improvement, your institution’s earnings on that cash are going to drop immediately. And so, institutions that are asset-sensitive or holding cash today need to consider the immediate margin compression that could occur once the Fed starts cutting rates. In the meantime, locking into investments closer to cash rates today can help hold yield until the COF starts to decline. A balanced investment strategy could allow your institution to add a mix of securities that average a yield close to Fed Funds with an allocation to call-protected assets. We urge management teams to consider the trade-off of investing in only the highest yield options compared to the potential benets of adding assets with call protection that could result in an unrealized gain when the Fed lowers rates.Finally, it’s important to keep in mind that repeating the past is unlikely, but it’s still essential to learn from it. Understanding the choices that your institution made, and then making informed decisions is how your institution can and will put its best foot forward. Kent Musbach is a senior vice president and Marc Gall is a senior vice president and asset/liability strategist for BOK Financial Capital Markets.Managing expectations for rate cutsTo manage margin this year, one question to ask is if your institution will need to offer the highest interest rate in the market for deposits or one that’s “just close enough” to that rate to keep existing customers. We nd that, if the rates are close enough, the incumbent tends to win because consumers don’t want to deal with the hassle of moving their money. This strategy may allow your institution to manage the upward pressure in cost of funds (COF). Additionally, management teams may consider what realistic reprieve in COF may come from the rst few Fed cuts. Many institutions have not raised non-maturity account rates in line with non-bank alternatives (ex. money market mutual funds). Consequently, community banks may be reluctant to reduce rates on these accounts, as they will still be below alternate funding costs. Contact BOK Financial Capital Markets at 866-440-6514 to discuss the latest economic outlook and timely considerations. We can help guide a unique, well-conceived strategy that considers many variables and potential outcomes.The opinions expressed herein reect the judgment of the author(s) at this date, and are subject to change without notice. The information provided has been obtained from sources believed to be reliable, but not guaranteed. Forward‐looking statements contained herein are based on current expectations and the economy in general, and are not guarantees of future performance. Likewise, past performance is not a guarantee of future results. BOK Financial® is a trademark 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 VALUEWM-679 03-2024

Page 3

ContentsThe Missourifacebook.com/mobankers @mobankers@mobankersMissouri Bankers AssociationFrom our ChairmanPreparing to Move Forward in Our Advocacy Endeavors. ..................................... 2From our President and CEOElection Stirs Attention to Pursue CFPB Reform ............................................... 5American Bankers Association PerspectiveStop Punting on Credit Union Accountability ................................................ 7Department NewsGovernment Relations: New MBA Award Recognizes Bank's Advocacy Endeavors ................. 8Legal: Defending Against Fraud: MBA Launches Full-Court Press .............................. . 9Compliance: Understanding Withdrawn Applications ........................................ 10MBA VEBA: Life Insurance is an Essential Tool for Long-Term Financial Planning ................. 12Member Services: MBA Education Programs Strengthen Bankers' Expertise ..................... 13Cover StoryHonoring An Industry Leader .............................. 14Bankers thank Congressman Blaine Luetkemeyer for serviceNext Generation in BankingMBA Honors Lipe With NextGen Award ...................................................... 16Banking Leadership MissouriBuilding the Ideal Banker .................................................................... 17Guest CommentaryChoosing a Deposit Network & Maximizing Its Value for Your Bank .............................. 18Protect Your Bank From Losses Against a Growing Fraud Scheme ............................. 20Eight Reasons to Choose an MSP Specializing in Banks ........................................ 23Around the StateBeyond Banking: Jason Price ................................................................. 24MBA Events ................................................................................ 26Achievements .............................................................................. 282024 MBA Highlights ........................................................................ 29Jackson 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

Page 4

Preparing to Move Forward in Our Advocacy EndeavorsDavid M. Gohn, MBA Chairman West Plains Bank and Trust Company“There’s two buttons I never like to hit: that’s panic and snooze.” If you’re familiar with the Apple TV series “Ted Lasso,” you may remember this quote from the title character, Ted. (If you aren’t, I highly recommend putting this on your list to binge.) The show featured many memorable lines like this that one can apply to the many situations we encounter in our lives. For this particular one, I found it covers how we as an industry prepare to move forward in the coming year with our advocacy endeavors. With new faces in both Jefferson City and Washington, D.C., with our congressional delegation, it’s vital bankers carve out time in the New Year to meet with lawmakers.Nearly 200 lawmakers will converge in Jefferson City when the Missouri General Assembly convenes Wednesday, Jan. 8. Among From our Chairmanthese representatives and senators, the number of true freshmen who will serve in the state legislature for the ﬁrst time is 62 — nearly a third of the entire assembly. These newcomers, along with the veteran lawmakers, will be voting on issues affecting our customers. Will they know what the bills entail? Will they understand the potential ramiﬁcations that legislation will have on their constituents? Do they realize an idea may not be feasible given the regulatory nature of our industry? These questions illustrate the importance of building relationships with your elected ofﬁcials. MBA laid the groundwork for this with meet-and-greets throughout Missouri this summer and fall, providing an opportunity to bankers to discuss the banking environment with local state lawmakers. With the 2025 session fast approaching, it’s time for all bankers to hit the ground running. Both the freshmen and veteran lawmakers need to hear our stories, and we need your help to accomplish this. We need you in Jefferson City for Target Banker visits this legislative session.For nearly 40 years, MBA’s Target Banker program has been a cornerstone of the association’s advocacy initiatives. These visits to the Missouri Capitol have a signiﬁcant impact on MBA’s legislative priorities as lawmakers hear directly from bankers in their districts about pending bills. By sharing your expertise with representatives and senators, they know exactly what a yes or no vote means for their constituents. More important, they now know who they can seek additional information when a banking issue arises in the Missouri legislature. Target Banker visits played a key role in MBA achieving its legislative priorities in the 2024 legislative session, 2 mobankers.com

Page 5

Preparing to Move Forward in Our Advocacy Endeavors“For nearly 40 years, MBA’s Target Banker program has been a cornerstone of the association’s advocacy initiatives. These visits to the Missouri Capitol have a signiﬁcant impact on MBA’s legislative priorities as lawmakers hear directly from bankers in their districts. including increased funding for the state’s MOBUCK$ program. In 2024, 180 bankers participated in Target Banker visits, a 20% increase from 2023. For 2025, imagine if we could surpass 200 Target Banker visits. I believe we can, and I believe every banker can be a Target Banker for their customers and communities. For those bankers who continue to make Target Banker visits, keep on doing this! Bring along a co-worker or peer from another local bank. For those unsure about becoming a Target Banker, take the leap and come to Jefferson City this coming year. Every interaction with elected ofﬁcials shows our dedication for our customers and communities.This also applies to our interaction with Missouri’s congressional delegation in Washington, D.C. When Congress convenes Jan. 3, it will include two new freshman representatives from Missouri. They join two fellow Missourians starting their second terms and four with several years of congressional experience.A new Congress means new priorities, and it’s essential our industry is part of conversations shaping legislative policy. Our lawmakers must know and understand the crippling, burdensome regulations that have hampered our industry and their detrimental effects on our customers and business community. Regulatory agencies must follow the intended purposes for which they were created and when agencies purse rogue agendas, they must be held accountable.Our association will have the opportunity to meet with our congressional delegation during the American Bankers Association’s Washington Summit scheduled April 7-9. I urge you to make plans now to attend to share your perspectives with your elected ofﬁcials; let them know where our industry stands and how we play a key role in our country’s economic success. This summit also marks the opportunity for the second class of MBA's Banking Leadership Missouri to be part of our advocacy efforts, and it is exciting to see our future leaders become more involved with our advocacy endeavors.“There’s two buttons I never like to hit: that’s panic and snooze.” –Ted LassoAs 2025 approaches, I am optimistic for our industry’s future. We have dedicated, talented individuals working in an exciting ﬁeld that continues to evolve but remains true to its core — helping our customers and communities with their ﬁnancial needs. I believe in us, and I believe the best is yet to come. THE MISSOURI BANKER 3

Page 6

Page 7

Election Stirs Attention to Pursue CFPB Reform The U.S. general election played out much differently than any pundit, pollster or talking head projected. Rather than waiting on hand counts or court battles, election night resolved strongly in favor of Republicans. President-elect Trump and Vice President-elect Vance won both the popular vote and electoral college with comfortable margins; a feat few believed would happen. In the congressional races, both the U.S. Senate and U.S. House swung toward Republicans, giving the GOP control of both the executive and legislative branches.The election outcomes have led to endless questions for our industry. What rules are subject to the Congressional Review Act? Which pieces of legislation suddenly have life again that could provide regulatory relief? Who will Jackson Hataway, President and CEO, Missouri Bankers AssociationFrom our President and CEOA new director does not ﬁx the funda-mental problems within the CFPB’s structure. Now is the time to seriously pursue CFPB reform.“control key committees in the legislative chambers, and what will their agendas be? Which agency leaders will be the ﬁrst to leave? Who is likely to take their seats? All these questions have answers, although some are ﬁrmer than others. The most certain and celebrated by many in our industry, including MBA, will be the removal of Director Rohit Chopra from the Consumer Financial Protection Bureau. Numerous names have already been ﬂoated for potential CFPB directors in the new Trump administration. All of those names — and likely any others who may be considered — will be more open to industry input than Chopra, who almost single-handedly drove the CFPB beyond any congressionally-sanctioned boundaries. It is more than time for a change.At the same time, a new director does not ﬁx the fundamental problems within the CFPB’s structure. Now is the time to seriously pursue CFPB reform. Its funding should ﬂow through traditional congressional appropriations to ensure oversight and accountability. There should be no seat for the CFPB on the Federal Deposit Insurance Corporation board. A bipartisan commission should govern CFPB rather than empower a single director with limitless abilities (now) to issue “guidance.” New limits on CFPB authorities should be considered. We have seen ample examples of how the CFPB’s current structure empowers one person to doggedly pursue an agenda to the detriment of the very consumers who the CFPB is charged with protecting.There are any number of bills ﬂoating around congressional ofﬁces that would begin the process of CFPB reform. With the right leadership at the CFPB, it may well be the time to bring those bills to life and make the CFPB follow the same rules as the other agencies do. THE MISSOURI BANKER 5

Page 8

WHY?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, knowl-edgeable 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 FDICMortgage Investment Services Corporation22316 Midland Drive • Shawnee, KS • 66226 • 913-390-1010NMLS# 194708 • A Kansas licensed mortgage company #MC 0001182 • Missouri Residential Mortgage Loan Broker License #10-1912 • Oklahoma Mortgage Broker #MB001953 • Colorado License #100044344 • Nebraska Licensed Mortgage Company NMLS#194708 • Arkansas License #124530YEARS24Let’s Talk Fair Lending!Partnering with Mortgage Investment Services Corporation (MISC) means equal access to credit for housing to all within your community. Here’s why collaborating with us sets you apart: • Fair Lending Protocols, Regulatory Compliance • Tailored Solutions for Diverse Clientele • Government nancing options: FHA, VA, & USDA-RD • Rebuilding your community with renovation lending • Expand your customer reachJoin forces with MISC to provide every member of your community with the opportunity for homeownership. We get it right the rst time!Andrew Holtgraves, Senior Vice President • Cell: 913-558-2555Email: Andrew@MISCHomeLoans.com • NMLS: #2769326 mobankers.com

Page 9

Rob Nichols, President and CEO American Bankers AssociationABA PerspectiveStop Punting on Credit Union AccountabilityFootball season is in full swing, and the home of the Washington Commanders has a new name: Northwest Stadium, the moniker of Virginia-based Northwest Federal Credit Union that inked a multiyear, multimillion-dollar stadium naming deal. If you’re wondering how a nonproﬁt, tax-exempt credit union can afford a hefty marketing spend, you’d be asking the right question. The Federal Credit Union Act authorizing the creation of federal credit unions was intended for these institutions to serve people of modest means within clearly deﬁned communities united by a common bond. Times have changed. Many credit unions, in pursuit of endless growth, have dramatically expanded their ﬁelds of membership. Northwest, whose marketing budget ballooned by 88% from 2022 to 2023, was founded in 1947 to serve CIA employees. It now offers membership through multiple federal agencies, as well as “hundreds of businesses and community organizations.” Northwest isn’t the only credit union spending top-dollars to grow membership far beyond its original scope. Several of the largest credit unions now purport their potential membership base to be upwards of 330 million Americans — effectively the entire U.S. population. If credit unions can cast a net this wide and compete aggressively for market share with taxpaying institutions, it’s time for policymakers to stop punting the ball on ensuring that these institutions are accountable and transparent in their operations. ABA expressed this view to National Credit Union Administration Chairman Todd Harper, who has questioned if credit unions should be spending so much on stadium naming deals when funds could be spent supporting members. Several policy developments also suggest a growing appetite in Washington for greater accountability and transparency for the $2.3 trillion credit union industry. In a policy statement, the Federal Deposit Insurance Corporation signaled it will begin requiring credit unions to provide additional information when applying to acquire an FDIC-insured bank. Credit unions have targeted more than $9 billion in bank assets so far this year, with 18 deals announced in 2024 alone. ABA remains deeply concerned about the increasing number of these types of transactions and the potential tax losses and effects on local communities that accompany them. Regulators should rightfully scrutinize these deals, given that credit unions are not subject to any federal Community Reinvestment Act requirements. Greater accountability also is expected through an upcoming NCUA rule on executive compensation transparency that would require the disclosure of certain ﬁnancial information by federal credit unions. Given that credit unions are democratically controlled ﬁnancial cooperatives, it is essential that their member-owners have greater visibility into how top executives are incentivized relative to these transactions. Regulators are not the only ones taking note. In the past year, 80 members of Congress have publicly questioned credit union activities. Taking all these developments into consideration, it seems the time is right to move the chains on credit union accountability. You can count on ABA to continue playing offense on these issues in the months ahead. Email Rob Nichols at rnichols@aba.com. THE MISSOURI BANKER 7

Page 10

Department NewsAs I reﬂect on this holiday season, I am incredibly grateful for all the bankers who support our industry by engaging with their lawmakers in Jefferson City and Washington, D.C. By dedicating your time and energy to advocate on issues affecting banks and their customers, you truly help shape the future of our industry.To recognize members for these important efforts, MBA is excited to announce its new FAME Award! The FAME — Fostering Advocacy & Meaningful Engagement — Award will recognize MBA-member banks that achieve speciﬁc advocacy goals throughout the year. MBA will recognize FAME Award honorees during its annual Executive Management Conference, beginning in 2025. More information will be forthcoming in the beginning of 2025, including how to qualify for the FAME Award.One qualiﬁer for the FAME Award will be to attend a Target Banker visit. I mention this for one simple reason — MBA needs your help in 2025!Nearly a third of the Missouri House of Representatives and Missouri Senate will be freshmen legislators. This gives us an opportunity to develop new relationships with these lawmakers and educate them on the issues important to our industry. GOVERNMENTAL RELATIONSNew MBA Award Recognizes Bank's Advocacy EndeavorsBy David Kent, Senior Vice PresidentWe also will be pushing several new legislative priorities in the next session. Additional tools to help prevent fraud and reforms to the state banking code to reduce regulatory burden top the list of priorities approved by MBA’s Government Relations Committee. We already know credit unions will be back in full force to aggressively push for ﬁeld-of-membership expansion. Your voice on these issues will be vital and could be the difference in ensuring a successful 2025 legislative session for the banking community.MBA’s Target Banker program is your opportunity to visit with your state lawmakers during the legislative session. MBA provides everything you need for the visit, including a short brieﬁng, talking points and appointments. If needed, MBA staff will attend the meeting with you. It’s a simple but incredibly effective grassroots advocacy program.To learn more about the Target Banker program or to register, visit mobankers.com. Click “Advocacy” and then click “Target Banker.” Thank you for your continued support of MBA’s advocacy efforts. We look forward to working together in the New Year to ensure a vibrant, thriving banking community! MAKE YOUR VOICE HEARD! BE A TARGET BANKER.For more information, scan the QR code.Schedule your Target Banker visit today. Visit mobankers.com for more details.8 mobankers.com8 mobankers.com

Page 11

MBA devoted a signiﬁcant portion of its 2024 Regional Meetings in gathering banker input on fraud affecting its members and their customers. An eye-opening brieﬁng from a representative of the IRS Criminal Investigations Division discussed the latest trends in fraudulent criminal and gang activity.The banking industry is experiencing a stunning amount of check fraud, much of which is driven by lax security and strained law enforcement resources in the U.S. Postal System. Some bankers have shared that fraud losses and the need for fraud loss reserves have been more signiﬁcant than loan losses in their markets. Clearly, banks and their customers are being blanketed with fraud attacks.MBA is pursuing resources and new tools to push back, presenting a full-court press against fraud.• The ﬁrst is to increase bank and customer awareness of fraud activity. MBA and the Missouri Chamber of Commerce are joining forces to raise fraud awareness among bankers, businesses and customers. A joint webinar was held in mid-November, and there will be additional opportunities for education and public service announcements to help prevent fraud. • The second involves state legislation. MBA is working with lawmakers on a proposal that would protect bank customers by establishing “trusted contact” programs that would allow customers to designate one or more trusted contacts for the bank to notify in the event of an emergency or if the bank notices suspicious activity that places the customer at risk. Another draft measure proposes that a state criminal law would deﬁne “ﬁnancial institution accounts fraud” and charge criminals who target banks or bank customers. This law would take account of and adapt to the rapidly escalating and evolving ﬁnancial account and services fraud. LEGALDefending Against Fraud: MBA Launches Full-Court Press By Keith Thornburg, Vice President and General Counsel• Third, MBA is circulating proposed federal legislation to amend the Federal Expedited Funds Availability Act, which underpins Regulation CC. The proposed legislation would authorize a receiving bank to place a nine-day security hold on a check, notifying its customer and the drawer bank, in these instances. • The account is less than one year old.• The check or account presents indicia of fraud.• The customer is noncooperative.• The check or amount is inconsistent with account history or expected account activity. The measure also would allow the drawer bank or the U.S. Treasury Bureau of Financial Services to extend the check security hold an additional nine days to verify the validity of the check. To improve diligence, the receiving bank and its customer also would warrant that each has acted with reasonable diligence and good faith, and that the check deposited for collection is not a stolen, forged, altered or counterfeit check. For consumer accounts, a receiving bank placing an extended security hold on a check would be required to provide, subject to underwriting, an interest free advance up to greater of the amount of the check or $5,000. The section will be self-implementing, and no bank would face any regulatory or civil liability for implementing and following these enhanced security procedures. MBA is reviewing all the foregoing with our stakeholders. For more information, comments or suggestions, please contact me at 573-636-8151. THE MISSOURI BANKER 9

Page 12

Department NewsCOMPLIANCEUnderstanding Withdrawn ApplicationsBy Gina Jolly, CRCM, Vice President of Compliance ServicesThe Consumer Financial Protection Bureau’s 1071 rule on small business lending data collection is the most extensive effort to gather loan application data in almost 50 years. As a result, banks should already be preparing for its implementation. The rule, which implements the Dodd-Frank Act Section 1071 requirements for the CFPB to collect lender data on small business loan applications, will likely require operational changes for your bank. A key piece of 1071 will be ensuring your bank understands when an application should be considered “withdrawn.” This topic has always caused confusion for banks, especially instances where a bank may label an application as “withdrawn” when it is a denial.KEY TERMSThe deﬁnition of “adverse action” within Regulation B 1002.2(c)(1) is, in part, as it relates to a loan application:“A refusal to grant credit in substantially the amount or on substantially the terms requested in an application unless the creditor makes a counteroffer (to grant credit in a different amount or on other terms) and the applicant uses or expressly accepts the credit offered.”The Ofﬁcial Interpretation to 1002.2(c)(1)–1 states:“Application for credit. If the applicant applied in accordance with the creditor's procedures, a refusal to reﬁnance or extend the term of a business or other loan is adverse action.”Regulation B 1022.2(f) also deﬁnes “completed application” as: “A completed application means an application in connection with which a creditor has received all the information that the creditor regularly obtains and considers in evaluating applications for the amount and type of credit requested (including, but not limited to, credit reports, any additional information requested from the applicant, and any approvals or reports by governmental agencies or other persons that are necessary to guarantee, insure, or provide security for the credit or collateral). The creditor shall exercise reasonable diligence in obtaining such information.”These deﬁnitions and ofﬁcial interpretations are critical to determine if an application is a denial or a withdrawal. NOTIFICATIONSTo review, a bank is required under Regulation B 1002.9 to send a notiﬁcation of action taken, which is commonly referred to as a “denial” or “adverse action.” The regulation states, in part, that a creditor shall notify an applicant of action taken within 30 days after:• “receiving a completed application concerning the creditor's approval of, counteroffer to, or adverse action on the application; or • taking adverse action on an incomplete application, unless notice is provided in accordance with paragraph (c) of this section” (commonly referred to as the “Notice of Incomplete Application”)To determine when a bank should deem the action taken as “withdrawn” versus “denied,” an application would be not considered a withdrawal:• when an applicant applies for credit, and • has not fulﬁlled the creditor’s requirements or procedures to become a completed application, and • the bank has attempted to communicate the need for additional documentation or veriﬁcations to allow it to make a credit decisionMany banks are erroneously labeling an application as “withdrawn” when the applicant either has not provided the requested information or has possibly decided to cancel (or withdraw) the application once additional information is requested or the bank counteroffers alternative loan terms. 10 mobankers.com10 mobankers.com

Page 13

To further illustrate, consider the following scenario.An applicant applies for a consumer installment loan. The applicant completes the application but omits his or her income amount. The lender contacts the applicant to discuss that the bank will need an income amount to make a credit decision. When contacted, the applicant indicates he or she does not want to proceed with the request, and the lender labels the application as “withdrawn” and does not send a denial notice or a notice of incomplete application.Should this be considered a “withdrawn” application? The answer is no; it should be considered a “denial.”In the example, the bank does not have a completed application and has communicated the need for the applicant’s income to evaluate a credit request. Regardless of the applicant’s statement not to proceed with the request, the bank should either deny the application as being incomplete or provide a written notice of incomplete application under 1002.9(c), which would state the information needed, a reasonable period of time to provide such information and that the failure to provide the information will result in no further consideration of the application. Suppose examiners ﬁnd a “pattern or practice” of improperly deﬁning the action taken on applications. In that case, the result will likely be a scrub of nonoriginated loan applications, with the bank being required to send denial notices in instances where a bank originally mistakenly considered an application as a withdrawal when it should have been a denial. Remember, the bank does not have to speciﬁcally state “No” for an application to be denied. You’ll also want to caution your loan ofﬁcers from saying something like “I’m not sure I can make this loan work, but if you want to try ... .” That statement could easily be viewed as discouraging the applicant from proceeding and should be viewed as a denial. 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. THE MISSOURI BANKER 11 THE MISSOURI BANKER 11

Page 14

MBA VEBALife Insurance is an Essential Tool for Long-Term Financial Planning By Lesley Weaver, Director of Business Development, Insurance ServicesLife insurance can be an essential part of ﬁnancial planning, offering protection for your loved ones in the event of your death. It helps provide ﬁnancial stability to your family and loved ones in times of loss. It offers protection against unexpected events and gives you control over your family’s ﬁnancial future. Depending on your stage in life, health and ﬁnancial responsibilities, the speciﬁc need for life insurance will vary, but it’s generally an essential tool for long-term ﬁnancial planning.BASIC TERM LIFE INSURANCE Basic term life insurance is a group life insurance policy that employers offer to their employees as part of a beneﬁts package. It is usually offered at no cost or at a very low cost to employees. The coverage amount is often a ﬂat dollar amount or a multiple of the employee’s annual salary. Employees are usually automatically enrolled in basic life insurance if they are eligible for other beneﬁts through their employer. Coverage may be limited to full-time employees, and employers generally pay the full premium for basic life insurance. One downside of basic life insurance is that it is usually not portable — if you leave your employer, you may lose the coverage.ADDITIONAL LIFE INSURANCE Additional life insurance is an optional beneﬁt that employers offer in addition to basic life insurance. It also is known as supplemental life insurance or optional life insurance, and employees can purchase additional coverage above the basic life insurance amount. This can often be done in increments up to a certain maximum limit. Employees can choose whether to enroll in voluntary life insurance. Premiums for voluntary life insurance are generally employee-paid (deducted from payroll), and the cost of premiums depends on the amount of coverage selected, the employee’s age and sometimes their health status. Unlike basic life insurance, voluntary life insurance may be portable, meaning if an employee leaves the company, they may be able to continue the coverage by converting it to an individual policy (although they may need to pay higher premiums). Voluntary life insurance may require employees to undergo a health screening or answer medical questions, particularly for higher coverage amounts. VOLUNTARY WHOLE AND UNIVERSAL LIFE INSURANCE Whole life insurance and universal life insurance are both types of permanent life insurance, meaning they provide coverage for your entire life if premiums are paid. However, they have key differences in terms of ﬂexibility, structure and cost. Whole life insurance has ﬁxed premiums and remains the same throughout the life of the policy; the death beneﬁt is generally guaranteed if premiums are paid, and whole life policies accumulate cash value over time at a guaranteed rate, which grows at a ﬁxed interest rate determined by the insurer. Universal life insurance offers more ﬂexibility, and you can adjust the amount and frequency of premiums within certain limits, depending on your needs or ﬁnancial situation. The death beneﬁt is ﬂexible and can be increased or decreased (increasing it may require additional underwriting), and the cash value grows based on a credited interest rate that can vary with market conditions or the insurer’s performance, typically with a minimum guaranteed rate. Generally, whole life insurance tends to be more expensive than universal life because it offers ﬁxed premiums, guaranteed death beneﬁts and a predictable cash value growth rate. The choice between whole life and universal life depends on your ﬁnancial goals, risk tolerance and preference for ﬂexibility in managing premiums and beneﬁts. MBA VEBA offers basic term life insurance through Minnesota Life and additional life insurance through The Standard. In addition, VEBA offers Allstate Beneﬁts voluntary whole or universal life insurance with long-term care that provides a monthly advance of the death beneﬁt for qualifying long-term care expenses if certiﬁed chronically ill. If you are interested in learning more about VEBA’s products, contact Lesley Weaver or Tina Woehr at 573-636-8151 or visit mobankers.com. 12 mobankers.com

Page 15

MEMBER SERVICESMBA Education Programs Strengthen Bankers' Expertise By Cheri Messerli, Senior Vice President of EducationAs the year winds down, many will consider goals they hope to achieve in the next year. Often, the goals involve tasks focused on learning a new skill or deciphering how a new regulation will affect bank operations. That’s where MBA’s educational services can assist you in accomplishing your project goals. Our programs provide bankers with the tools and resources needed to enhance their knowledge and skills to serve their customers and communities. As the New Year approaches, we are excited to once again bring an array of in-person, virtual and on-demand programs to assist bankers with their educational needs. This includes several new courses to strengthen your staff’s expertise.2025 EDUCATION AND TRAINERS FORUMFeb. 27 | June 12 | Oct. 23New to MBA’s education offerings, this virtual forum provides an opportunity for bank educators, directors and trainers to exchange ideas freely and examine pressing challenges in today’s ever-evolving regulatory, cost-conscience and results-driven environment. This forum is part of a long-standing tradition where peer-to-peer sessions have consistently demonstrated remarkable success. These interactive sessions foster an environment conducive to open dialogue and knowledge sharing among industry leaders. CONSUMER LENDING SCHOOLJune 24-27 | Jefferson CityBankers will gain a solid foundation for a lending career in this four-day course that prepares lenders for success in today’s universal banking environment, where they must have the skills and ﬂexibility to serve a wide variety of loan requests. Designed for lenders serving consumers, small real estate investors and/or small business clients in a branch environment, this real-world program will prepare consumer lenders to have more informed and effective conversations with credit partners and build stronger, more proﬁtable relationships with customers.In addition, our long-standing programs continue to provide immense value for bankers. This holds true for our schools, which deliver core skills for those seeking to advance in their banking careers.2025 SCHOOL OF BANKINGFeb. 3-7 | ColumbiaCelebrating its 40th anniversary in 2025, this MBA school has been a cornerstone for hundreds of bankers in their professional development. The school has boosted their banking careers, preparing them to address complex banking issues. Designed for mid-level and junior bank ofﬁcers, the school is a two-year program with a comprehensive study of 23 functional areas of banking.These highlighted programs are just a sampling that MBA is offering in 2025. At mobankers.com, you can view programs, conferences and schools for 2025. We look forward to seeing more bankers at our 2025 programs! Frontline Excellence SeminarJan. 21 – virtualSection 1071 Frontline BootcampJan. 29 – virtualOutside Calling SchoolFeb. 6 – Lesson 1– virtual | Feb.13 – Lesson 2 – virtualBSA/AML Fundamentals Boot CampFeb. 18-19 – virtualSchool of ComplianceMarch 4-7 – ColumbiaSchool of LendingMarch 17-21 – ColumbiaAdvanced School of LendingMarch 18-20 – ColumbiaCybersecurity SeminarMarch 25 – Jefferson CitySAVE THE DATESMBA 2025 EVENTSFor a list of all 2025 events, scan the QR code. THE MISSOURI BANKER 13 THE MISSOURI BANKER 13

Page 16

Page 17

After eight consecutive two-year terms in the U.S. House of Representatives, Congressman Blaine Luetkemeyer will close the chapter on his legislative career when he retires at the conclusion of the 2024 congressional session in December.First elected to the U.S. House of Representatives in November 2008, Luetkemeyer has represented the 3rd Congressional District of Missouri since 2009. In January 2024, Luetkemeyer announced he would not seek re-election.“Congressman Luetkemeyer has been a great leader for our state in Washington,” said MBA President and CEO Jackson Hataway. “With his knowledge and expertise of the banking industry, Congressman Luetkemeyer has sponsored legislation that promotes and strengthens economic prosperity for communities throughout our state and nation.”In the 118th Congress, Luetkemeyer serves on the House Financial Services Committee as chairman of the Subcommittee on National Security, Illicit Finance and International Financial Institutions, on the House Select Committee on the Chinese Communist Party and on the House Small Business Committee.Bankers from across Missouri gathered at MBA’s ofﬁce Tuesday, Oct. 22, to personally thank Luetkemeyer for his leadership in the U.S. House of Representatives.Congressman Blaine Luetkemeyer; MBA Chairman-Elect Patrick Kussman, Regional Missouri Bank, Marceline; MBA Chairman David Gohn, West Plains Bank and Trust Company; MBA President and CEO Jackson HatawayDoug Burnett, TPNP Bank, Paris; Congressman Blaine Luetkemeyer; MBA Past Chairman Chuck Brazeale, Paris Congressman Blaine Luetkemeyer and John Klebba, Legends Bank, LinnCongressman Blaine Luetkemeyer and Matt Williams, Simmons Bank, ColumbiaKevin Jaquet, HNB National Bank, Hannibal; Lance Boyer, Heritage Bank of the Ozarks, Lebanon; Doug Burnett, TPNP Bank, Paris THE MISSOURI BANKER 15

Page 18

Next Generation in BankingMBA Honors Lipe With NextGen AwardThe Missouri Bankers Association honored Jamie Lipe, chief ﬁnancial ofﬁcer with First State Community Bank in Farmington, with the 2024 Next Generation in Banking Leadership Award. This award from MBA recognizes the outstanding achievement of a Missouri banker employed by an MBA-member bank. Lipe, who was chosen by a selection committee of bank leaders from across the state, was honored Oct. 4 during the 2024 Next Generation in Banking Leadership Conference in Kansas City.“Jamie has served as a continual role model and has demonstrated leadership attributes not only within the bank but also within the industry and our community,” said John Denkler, president and CEO of First State Community Bank. "She truly lives a life of service in leadership."After starting her career in public accounting, Lipe began her banking career as a loan review ofﬁcer for First State Community Bank. She then moved to the accounting department, serving as a controller before her promotion to CFO.“In each role Jamie has served, she brought the desire to elevate the role and the organization as a whole, pushing herself and those around her to raise the bar,” Denkler said. Lipe has been instrumental in developing and improving the bank’s budget process, ALM modeling programs, ALLL analysis process and data analytics, as well as the bank’s overall operations and policies. As a mentor to other team members, Lipe is dedicated to the professional development of her team. The same commitment extends to her own professional development. She is a 2019 graduate of the American Bankers Association Stonier Graduate School of Banking and Wharton Leadership Program. Lipe’s involvement with MBA has continued to grow. A 2016 graduate of MBA's Banking Leadership Missouri, Lipe engages with lawmakers and regulators through MBA's advocacy endeavors in both Jefferson City and Washington, D.C. She also has served as chair of MBA’s Chief Financial Ofﬁcer Committee.As a volunteer for various organizations in the Farmington community, Lipe has volunteered for activities supporting the Parkland Health Center Foundation, Pink Penguin Project and Help the Hungry. She is actively involved in the Living Well Project and its efforts to build wells for communities in Africa. MBA Senior Vice President David Kent presents Jamie Lipe, chief ﬁnancial ofﬁcer with First State Community Bank in Farmington, with the 2024 Next Generation in Banking Leadership Award.16 mobankers.com

Page 19

MBA Banking Leadership MissouriBUILDING THE IDEAL BANKERIn their November session at MBA's ofﬁce, Banking Leadership Missouri explored leadership excellence through effective communication. During one of the exercises conducted during this session led by Vicki Kraai with InterAction Training, Banking Leadership Missouri teams created their ideal bank leader using a Potato Head.Travis Townsend, First State Community Bank, Lebanon; Luke Polen, Carroll County Trust Com-pany, Carrollton; McKenzie Ward, BTC Bank, Bethany; Samantha West, FCNB Bank, Steelville; Emily Kennedy, Farmers & Merchants Bank, St. ClairChris Martin, Farmers State Bank, Cameron; Rachel Dreyer, The Bank of Missouri, Cape Girardeau; Sarah Sanchez, UMB Bank, Kansas City; Cass Denton, West Plains Bank and Trust Company; Colby Schmid, CNB St. Louis Bank Kyla Pierce, Adrian Bank; Doug Weber, First State Community Bank, De Soto; Amanda Hamilton, West Plains Bank and Trust Company; Kevin Griffon, First State Community Bank, FredericktownTraci McClinton, First State Community Bank, De Soto; Gena Hillhouse, Heritage Bank of the Ozarks, Lebanon; Tara Crosby, Mid-Missouri Bank, Springﬁeld; Billy Fowler, Bank of AdvanceAshley Harris, Legends Bank, Belle; Heather Dameron, First Missouri State Bank of Cape County, Cape Girardeau; Cade Higginbotham, Mid-Missouri Bank, Joplin; Drew Smith, First State Community Bank, Columbia THE MISSOURI BANKER 17

Page 20

Submitted by Steve Kinner, Senior Managing Director, IntraFiChoosing a Deposit Network & Maximizing Its Value for Your Bank Guest CommentaryIn a market where deposit competition is ﬁerce and industry turmoil has placed an increased emphasis on safety, one of the best ways to proactively reassure your most-valued customers could be joining a reciprocal deposit network. Per IntraFi’s quarterly survey of bank executives, as of second quarter 2024, 90% of institutions reported that deposit competition had worsened or stayed the same compared to 2023, with most expecting this trend to continue into 2025. Given this competition, access to millions of dollars of aggregate Federal Deposit Insurance Corporation insurance across network banks in a reciprocal deposit network can be a valuable tool to any bank.WHAT DO BANK CUSTOMERS SAY ABOUT RECIPROCAL DEPOSIT NETWORKS?Reciprocal deposits — deposits a bank receives through a deposit network in return for placing a matching amount of deposits at other network banks in increments under the FDIC’s insurance limit of $250,000 — can delight large depositors and bankers alike. Cindy Thomas, a depositor who handles millions of dollars ﬂowing through a property management company in Silver Spring, Maryland, found signiﬁcant value in the reciprocal deposit products offered by her bank.“My bank does all the work for me,” Thomas said. “I’m getting a good rate of return, and it is so easy for me. I can see all the details in one place. I would think that anyone who is doing my type of job would want to use these products.”Erik Burgdorf, the business manager at Immanuel Lutheran, a 175-year-old church and school in St. Charles, Missouri, also uses products available via a deposit network. “When we looked at this product, we said yes, absolutely, this is something we need to jump on. It was a no brainer,” Burgdorf said. “With this product, our funds are protected, we earn a competitive rate, and it does not cost us the signiﬁcant time and effort required if we were to do this ourselves.” 18 mobankers.com

Page 21

WHAT SHOULD YOU LOOK FOR IN A DEPOSIT NETWORK?Not every deposit network is created equal. Before signing up, consider these questions.• Does the provider compete with banks for deposits? Some networks may double-dip and pursue depositors, creating a potential conﬂict of interest. • Does the provider offer multiple deposit product options for placement of funds? The more options, the more ﬂexibility your bank can offer. • Does the provider ever have possession of customer funds? Preferred networks will use highly reputable, established banks for settlement, keeping your depositor’s funds at arm’s length. • Is the bank allowed to set the interest rate? A network that lets your bank set the interest rate enables you to control your proﬁt margin and create customized offerings to retain valued depositors. • Does the provider have relationships with many banks? Larger networks typically mean higher deposit balances can be placed, providing more ﬂexibility for your bank. With the right reciprocal deposit network, your bank can build stronger customer relationships, fund more loans and seamlessly manage its liquidity. IIntraFi® 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® or visit intraﬁ.com. Reduce collateralized deposit and increase asset liquidity.By signiﬁcantly reducing the collateral it holds for pledging purposes, your bank can avoid having pledging requirements drive its investment strategy. Reducing collateralization can give your bank more ﬂexibility to manage interest rate risk. And, decreasing the need to track collateral on an ongoing basis can save time for both your bank and its customers.Talk to us today about IntraFi's solutions for collateral reduction.Repurpose pledged funds for balance sheet ﬂexibility. www.intraﬁ.comContact your Managing Director, Glenn Martin at (866) 776-6426, x3462 or gmartin@intraﬁ.comUse of an IntraFi service is subject to the terms, conditions, and disclosures in the applicable program agreements. Deposits placed through an IntraFi service that are placed at FDIC-insured banks in IntraFi’s network are eligible for FDIC deposit insurance coverage at the network banks. IntraFi is not an FDIC-insured bank, and deposit insurance covers the failure of an insured bank. A list identifying IntraFi network banks may be found at https://www.intraﬁ.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. Certain conditions must be satisﬁed for “pass-through” FDIC deposit insurance coverage to apply. To meet the conditions for pass-through FDIC deposit insurance, deposit accounts that hold deposits placed using an IntraFi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage. IntraFi, the IntraFi logo, ICS, IntraFi Cash Service, and CDARS are registered service marks of IntraFi LLC.IntraFi is an MBA endorsed partner. THE MISSOURI BANKER 19

Page 22

Submitted By Shelli Clarkston, Spencer Fane LLPRecently, ﬁnancial institutions have been facing large losses as a result of a growing fraud scheme. It is important for institutions to understand this fraud scheme and how to protect themselves from potential losses.The fraud scheme begins when an individual intercepts a check in the mail. Typically, these checks are payable to a business. The same or another individual then forms an entity in a state with the same name as the payee business. For example, for a check payable to ABC Inc., the individual will set up a corporation in the name of ABC Inc. and will prepare the relevant corporate documents. The individual will then go into the institution and open a new account in the name of ABC Inc. The institution will obtain the Articles of Incorporation, as well as a Certiﬁcate of Good Standing, corporate resolutions and bylaws. The institution will then deposit the intercepted check into the new account. Sometime later, the actual payee eventually contacts the payor to report that it never received the check, and the payor contacts its ﬁnancial institution only to be told that the check has cleared. The payor’s institution then submits a breach of transfer warranty claim to the institution of ﬁrst deposit for fraudulent endorsement. However, the funds in the new account have been withdrawn.Financial institutions are left facing the issue of determining who is liable for the funds. The fraudster is ultimately liable for the stolen money but typically cannot be located or has already spent the money. As a general rule, the most negligent party should be held liable. However, the law may shift liability to another party, possibly to your institution.When it comes to forged endorsements, the Uniform Commercial Code § 4-207 Transfer Warranties provides that all signatures, such as an endorsement, are authentic and authorized. Under UCC § 3-403, an unauthorized signature is ineffective except as the signature of the unauthorized signer in favor of a person who in good faith pays the check or takes it for value (such as the ﬁnancial institution of ﬁrst deposit). However, UCC § 3-406(a) provides that a person whose failure to exercise ordinary care substantially contributes to the making for a forged signature on a check is precluded Guest CommentaryProtect Your Bank From Losses Against a Growing Fraud Scheme20 mobankers.com

Page 23

from asserting the forgery against a person who, in good faith, pays the check or takes it for value or collection. If the person asserting the preclusion fails to exercise ordinary care in paying or taking the check and that failure substantially contributes to the loss, the loss is allocated to the extent to which the failure of each to exercise ordinary care contributed to the loss. Simply, if the ﬁnancial institution of ﬁrst deposit did not exercise ordinary care in taking the check for deposit, it will be precluded from asserting liability for the forgery against the payor’s ﬁnancial institution.So, what does your ﬁnancial institution need to do to show that it acted in good faith and exercised ordinary care when accepting the check for deposit? The following checklist details some actions your institution should take.• Follow all procedures for customer identiﬁcation program and beneﬁcial ownership, including obtaining valid government issued identiﬁcation. • Closely examine the identiﬁcation provided to determine if it is genuine (institutions typically use an ID checking guide that has images of valid driver’s license formats for all 50 states). • Compare the check issuance date with the entity formation date. A check issuance date before the entity formation date could be an indicator of fraud. • Compare the address of the payee on the check (if there is one) with the address for the entity. Different addresses could be an indicator of fraud. • Look at the address of the payee and the entity in comparison to your institution’s branch locations. An address that is not close to any branch location could be an indicator of fraud.Banks needing assistance with handling a fraudulent endorsement dispute or other breach of transfer warrant dispute should contact legal counsel. An attorney in Spencer Fane’s Kansas City ofﬁcer, Shelli Clarkston provides ﬁnancial institutions of all sizes with proactive legal counsel on regulatory and compliance matters, allowing them to conduct business and complete transactions with more precision, speed and cost-efﬁciency.Spencer Fane LLP has a long tradition of representing ﬁnancial institutions of all sizes, from small locally owned banks to large multistate institutions, with legal, regulatory and compliance assistance. The ﬁrm’s attorneys help banks with mergers and acquisitions, holding company formation, federal and state regulatory affairs, regulatory enforcement actions, troubled institution assistance, internal policy preparation, consumer credit and deposits, and corporate bond trustee and ﬁduciary liability. As a full-service ﬁrm, Spencer Fane also provides an array of nonbanking services to its ﬁnancial services clients, including human resources counseling and training, employment litigation and employee beneﬁts counsel. Learn more at spencerfane.com. Spencer Fane is an MBA associate member. 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 & More THE MISSOURI BANKER 21

Page 24

Page 25

Eight Reasons to Choose an MSP Specializing in BanksBy Lance LaBedelle, Integris Guest CommentaryAren’t all IT managed service providers the same? Not exactly. The banking industry’s rapidly evolving IT and information security landscape makes it difﬁcult to manage and requires specialized expertise. The expertise of a managed service provider specializing in banking ensures robust cybersecurity, regulatory compliance and efﬁcient IT operations for your bank. This allows your bank to stay ahead of threats and focus on what matters most — serving your customers.An MSP with a banking focus can provide lots of shortcuts and beneﬁts, including the following.1. vCISO Support for Your Cybersecurity Governance — Gold-standard, CISSP-certiﬁed cybersecurity experts can ensure all your written cybersecurity policies, plans and procedures are on point and regulation ready. They know exactly what a bank needs for third-party vendor risk management, system monitoring and so much more. 2. White-Glove Handling of Your FFIEC Audit — Never worry your IT MSP doesn’t “get” the pressures that come from your audit documentation as your MSP will handle your questionnaires from start to ﬁnish. 3. Bank-board Reporting for Your IT Key Performance Indicators — Partner with an MSP that knows how to create data and deliverables your C-suite needs for its decision making. 4. Software and Packages Designed Just for Banks — Work with MSP products that are designed speciﬁcally for the needs of community banks, from cloud productivity to cybersecurity to backup/disaster recovery and more. 5. Around-the-Clock Service and Escalation Desks — Your MSP must understand the sacred trust that comes with handling your customer’s online transactions and the importance of a smooth-running system. Your MSP should have a dedicated service desk that is never closed and staff expertise that is always available to your IT leadership. 6. Disaster Recovery Built for the Speed of Banking — Ensure your MSP has offsite, scalable backups and business continuity planning that will get your bank up and running fast. 7. Partnership With Your Core Providers — Your MSP should have an excellent working relationship with your core providers in providing the system frameworks and supports to keep your cores running well. 8. IT Strategy for the Future of Banking — From machine learning to AI chatbots, your MSP must understand what fast growing tech is best for the bank sector and how to deploy it safely. Integris provides managed IT service for more than 100 banks nationwide. The 200+ employees in its ﬁnancial institution division would love to show you what bank-focused IT can do for you. Learn more at integrisit.com or schedule a free discovery call with Lance LaBedelle at integrisit.com/contact. Integris is an MBA associate member.FINANCIAL IT SERVICESARE WHAT WE DO BESTMANAGED IT SUPPORTCYBERSECURITYHOSTING IT CONSULTING2 0 2 4Empowering Missouri's Banks Through Technology Top priorities for 2025 Benchmarks from 1,000+ executives How banks are staying ahead of cyberconcernsUnderstanding USBanks’ Annual ITSpend in 2025Scan QR Code or Visit:integrisit.com/resources/us-bank-it-spend-2025-report/ THE MISSOURI BANKER 23

Page 26

Around the StateBeyond Banking: Jason Price, Vice President Wood & Huston Bank, MarshallBy Lori Bruce, Director of CommunicationsThe vocations Jason Price has pursued in his life vary, but they all share a key aspect that guides him in his endeavors — service to others.“If I can contribute in any way to make an organization better, then that’s what I should do,” said Price, vice president and commercial lender at Wood & Huston Bank in Marshall.Price has followed this principle throughout his adult life, ﬁrst as a high school agriculture teacher and coach and now as a community banker. However, it was another calling that fulﬁlled his desire to serve others. “I had always thought about serving others besides myself, and I really wanted to serve our country,” Price said. “I pushed those urges off all through college and basically through my 20s.”Yet, the call to serve his country always lingered for Price. A unique program focusing on agri-business development from the Missouri National Guard piqued his interest. The Guard was interested in citizen soldiers sharing their knowledge to aid in developing agriculture practices.“This was right up my alley,” said Price, an ag teacher at that time. “I was always trying to inspire students to do what their heart called them to do and if an opportunity presented itself, they should at least open the door to see what it entailed. I didn’t want to be the person who gave advice but never followed it. I couldn’t pass up the second urge I was feeling to serve our country, so I made the leap at 30 years old to enlist.”Price enlisted in the Missouri National Guard in February 2010 and completed his basic training during the summer at Fort Jackson, South Carolina. After training, he returned with his unit to Whiteman Air Force Base in Knob Noster. Price then pursued his main purpose for enlisting — becoming an ofﬁcer. He began ofﬁcer candidate school at Fort Leonard Wood three months after returning from basic training. In September 2012, he was commissioned as a second lieutenant. Since joining the National Guard, Price has only been deployed once. He was stationed at Camp Arifjan in Kuwait from 2017 to 2018 as the headquarters support company commander with the 35th Infantry Division out of Fort Leavenworth, Kansas. Price was tasked to provide administrative guidance and direction to nearly 240 soldiers who were a part of the division staff and to facilitate anything that dealt with the formation in general.24 mobankers.com

Page 27

Beyond Banking: Jason Price, Vice President Wood & Huston Bank, MarshallShare your Beyond Banking ideas to Lori Bruce, MBA communications director, at mba@mobankers.comfor possible inclusion in The Missouri Banker.Submit Your Story! Jason Price received the Walter R. “Hank” Harrington Company Grade Ofﬁcer Award in fall 2018 as the most outstanding ofﬁcer for the 35th Infantry Division.“The division staff focused their efforts across the entire area of responsibility,” Price said. “It was our company staff’s job to provide internal support to make them successful.”For this assignment, Price said his experience as a teacher and coach was invaluable because it allowed him to connect with individuals. “I gained their trust and was able to give them guidance that maybe helped them not only through a situation they were dealing with while they were deployed but also basically further their advancement whenever we got back home stateside,” he said.During his deployment, Price said his Wood & Huston Bank family took it upon themselves to support his family and him “in more ways than I know” as they “pitched in” to share his workload to help continue serving the bank’s customers. The bank also displayed an outpouring of support with multiple care packages for Price and his unit. The Employer Support of the Guard and Reserve, a U.S. Department of Defense ofﬁce, has honored Wood & Huston Bank for its support of citizen soldiers.Jason Price performs weapons qualiﬁcation training at a range in Kuwait during his deployment from 2017-2018. “It’s important that our companies are recognized for their support of us as soldiers,” Price said. “It takes a lot of support from all organizations and companies, big and small, to basically sacriﬁce a bit of their employees’ time to allow us to go and serve something bigger than ourselves.” Currently a major with the National Guard, Price recently completed schooling at the U.S. Army Command and General Staff College at Fort Leavenworth, Kansas. He hopes to be promoted to lieutenant colonel in the future.As his 15th anniversary of enlistment approaches in February 2025, Price takes it upon himself to acknowledge any veteran he meets. “Every veteran has a story,” Price said, “While most veterans do not believe that their story is important, it truly is.” THE MISSOURI BANKER 25

Page 28

Page 29

Page 30

AchievementsArvest Bank in Springﬁeld promoted Jammi Glenn to private banker/health care relationship banker. Glenn is growing and expanding current relationships with local health care professionals, including nurses and physicians' assistants, using a concierge-style approach to provide products and services tailored to meet their needs. She most recently served as a relationship banker and has two years of industry experience.Branson Bank named Tammy Kelley vice president, controller and operations ofﬁcer. She oversees the internal audit program and provides redundancies for the ﬁnance and accounting department while managing the holding company, shareholder and board duties on behalf of the bank. A graduate of MBA’s Banking Leadership Missouri, Kelley was honored with the Young Bankers Leadership Award from MBA in 2017, served two consecutive terms as chair of MBA’s Young Banker Leadership Division Board of Directors and was instrumental in creating MBA’s Heroes Cup golf tournament that beneﬁts veterans. She has more than 20 years of banking experience.Autumn Quatrocky joined First Bank of the Lake in Osage Beach as assistant vice president, retail bank manager. She leads the performance of the retail team, ensuring high-quality customer service experience, overseeing the daily management of the retail branch, and building community relationships. She has more than eight years of banking experience.Zilian Falig was promoted to private banking ofﬁcer at Guaranty Bank in Springﬁeld. Falig has been with Guaranty Bank for more than three years and previously served as a private banking specialist and assistant branch manager. She has more than nine years of retail banking experience.John Meyers was named branch manager for Mid America Bank in Columbia. He oversees the daily operations and sales function of the branch, and he leads the branch in making sales calls, conducting training, processing transactions and setting up new accounts. Meyers has ﬁve years of banking experience. He previously served in the U.S. Marine Corps.Around the StateJammi Glenn James Switzer Ashley RieckeSelena Garnica-SappingtonChad RieckeKris Drew Jared Reeves Joe LandTammy KelleyAutumn QuatrockyZilian FaligJohn MeyersRobin WilkinsCentral Bank in Springﬁeld announced staff changes at its branches. James Switzer was promoted to vice president, retail operations ofﬁcer. Switzer, who joined the bank in 2006, also acts as the bank security ofﬁcer, information security coordinator and business continuity planning coordinator. Ashley Riecke was promoted to consumer loan ofﬁcer. Her banking career spans nearly two decades. Selena Garnica-Sappington was promoted to banking center manager and retail ofﬁcer. She has seven years of banking experience. Chad Riecke and Kris Drew were named banking center managers and retail ofﬁcers. Riecke has 15 years of banking experience. The bank also welcomed two new lenders. As assistant vice president, commercial loan ofﬁcer, Jared Reeves manages a commercial loan portfolio with oversight on the proﬁtability and quality of the loans in his book of business. He has more than 14 years of banking experience. Joe Land assists with ﬁnancial analysis, credit assessments, market research and customer relationship management as a commercial lender, trainee. He has four years of experience in the ﬁnancial industry.Robin Wilkins joined St. Johns Bank in St. Louis as vice president of loan operations. She has more than 40 years of experience with credit, loan administration and loan operations. Send achievements, news and announcements to Lori Bruce, MBA communications director, at mba@mobankers.comfor possible inclusion in The Missouri Banker.Submit Your News! 28 mobankers.com

Page 31

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.comGOVERNMENT RELATIONSMEMBER SERVICESMBA VEBACOMPLIANCE SERVICESEDUCATIONFederalState2024 MBA HIGHLIGHTSThrough The Max & Cindy Cook Endowment for Advocacy and Leadership Training, 12 members of Banking Leadership Missouri attended the ABA Washington Summit.participants in Target Banker visits20% increase from 2023232 bankers participating in MBA’s 5 schoolsbankers participating in education & training programsbanks participating in conferences, seminars, webinarsKansas Bankers Association joins VendorPRO506 referrals 430 vendorsdozens of bank reviews conducted by staffadded pet insurance to productsmember banks purchase at least one MBA insurance product 63942161000+individuals attended meetings with Missouri’s congressional members in Washington, D.C.6 bills supported by MBA passed into lawincluded priority bills to increase MOBUCK$ cap to $1.2 billion and allow banks to recoup cost of a credit report on consumer loanshosted 6 in-district meetings across the state attended by more than 50 state lawmakersdefeated legislation to expand credit union ﬁeld of membership1802,037your source for vendor peer referrals onlinecompliance bank questions answeredlaunched Bankers Consulting Services to provide MBA-member banks access to expert, cost-effective legal services that complement our outstanding compliance services

The Missouri Banker November December 2024

Page 1

Page 2