Legence - CBAI.com
Transcription
Legence - CBAI.com
O f f i c i a l P u b l i c a t i o n o f t h e C O M M UNIT Y BAN K E R S A S S O CIATI O N o f ILLIN O I S Banknotes January 2014 Volume 40 • Issue 1 Legence Bank University 2 0 1 3 B K D Awa r d FOr EXCELLENCE & I N N O VAT I O N W I N N E R 2014 Interest Bankers’ Private CBAI Rate Risk: Cloud: Cloud-Based Leadership A Priority for 2014 I.T. Services page 11 page 20 page 27 CBAI Board of Directors & Staff Community Bankers Association of Illinois Executive Committee CBAI Executive Staff +Chairman – Bill Wubben, Apple River State Bank < [email protected] > + First Vice Chairman – Todd Grayson, South Central Bank, N.A., Chicago < [email protected] > + Second Vice Chairman – Kevin Beckemeyer, Legence Bank, Eldorado < [email protected] > + Regional Vice Chairmen – Tony Sisto, STC Capital Bank, St. Charles < [email protected] > + Jeff Rolczynski, American Midwest Bank, Sycamore < [email protected] > +Tom Marantz, Bank of Springfield < [email protected] > + David Pirsein, First National Bank in Pinckneyville < [email protected] > +Treasurer – Gregg Roegge, Rushville State Bank < [email protected] > +Immediate Past Chairman – Rick Jameson, Morton Community Bank < [email protected] > + President – Bob Wingert, CBAI, Springfield < [email protected] > + Bob Wingert, President < [email protected] > + Jerry Cavanaugh, General Counsel < [email protected] > + Levette Shade, Paralegal < [email protected] > + Lisa Lippert, C.P.A., Controller < [email protected] > + Jenny Dial, Senior Vice President Operations < [email protected] > + Kraig Lounsberry, Senior Vice President Governmental Relations < [email protected] > +Megan Peck, Vice President Governmental Relations < [email protected] > + David Schroeder, Vice President Federal Governmental Relations < [email protected] > +Tracy Z. McQuinn, Senior Vice President Education & Special Events < [email protected] > +Valerie Johnston, Vice President Education & Special Events < [email protected] > +Melinda McClelland, Vice President Education & Special Events < [email protected] > + Andrea C. Cusick, Senior Vice President Communications (Banknotes Editor) < [email protected] > +Terry Griffin, Vice President Chicago Area < [email protected] > Group Directors + David Loundy, Devon Bank, Chicago < [email protected] > + David Stanton, PeopleFirst Bank, Joliet < [email protected] > + Dianna Torman, Prairie Community Bank, Marengo < [email protected] > +Cindy Martin, Lena State Bank < [email protected] > + Jeff Hammes, Peoples Bank of Kankakee County, Bourbonnais < [email protected] > + Doug Parrott, State Bank of Toulon < [email protected] > +Mike Mahair, State Street Bank and Trust Co., Quincy < [email protected] > + Jeff Bonnett, Havana National Bank < [email protected] > + Eric McRae, First Mid-Illinois Bank & Trust, N.A., Mattoon (Decatur) < [email protected] > + Shawn Davis, CNB Bank & Trust, N.A., Carlinville < [email protected] > + Sheila Burcham, Community Trust Bank, Irvington < [email protected] > + Dan Graham, Flora Bank & Trust < [email protected] > + John Dosier, First Southern Bank, Carbondale < [email protected] > CBAI Past Chairmen +Mike Estes, Fisher National Bank < [email protected] > +Mary Sulser, Buena Vista National Bank of Chester < [email protected] > ICBA State DELEGATEs + + Gerry Johnson, Grand Ridge National Bank < [email protected] > Preston Smith, First National Bank, Mattoon < [email protected] > CDD Chairman (ex officio) + Kim McKee, North Central Bank, Hennepin (Ladd) < [email protected] > 4 www.cbai.com + CBAI Legislative Consultant + David Manning < [email protected] > CBSC Executive Staff +Mike Kelley, President < [email protected] > +Mike Duke, Vice President, Electronic Payments < [email protected] > + Andy Burkett, Vice President, Member Services < [email protected] > + Lesa Black, Vice President, Member Services < [email protected] > Headquarters 901 Community Drive, Springfield, IL 62703-5184 • 217/529.2265 800/736.2224 (IL only) + Fax for CBAI (except for Departments below): 217/529.9484 • Fax for Departments of Communications, Education, and Special Events: 217/585.8738 • Fax for CBSC: 217/585.8735 • www.cbai.com Hours of Operation: 8 a.m. - 5 p.m. Fax copies of articles will not be accepted for publication in Banknotes; a hard-copy must be sent, preferably accompanied by the article on c.d. (most word processing programs can be converted or QuarkXpress); or they may be e-mailed to the editor [email protected]. Banknotes articles may be reprinted in their entirety without prior permission, unless indicated individual articles list copyright. Please use the author’s name/company/title, along with the following credit line and Banknotes issue number: “Reprinted from Banknotes, a publication of Community Bankers Association of Illinois.” If you are interested in a subscription to or advertising in Banknotes, contact the CBAI Department of Communications. With the exception of official announcements, the Community Bankers Association of Illinois and its staff disclaim responsibility for opinions expressed and statements made in articles published in Banknotes. This publication of the Community Bankers Association of Illinois is intended and designed to provide accurate and authoritative information regarding the subject matter covered. These services are provided with the understanding that the Community Bankers Association of Illinois is not engaged in rendering specific legal, accounting, or other professional services. If specific legal advice or other expert assistance is required, the services of a competent, professional person should be sought. Banknotes January 2014 Community Bankers Association of Illinois 08 20 27 features BKD Award for Excellence & Innovation Winner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 08 2014 CBAI Leadership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Four Ways to Mitigate Risk in Banking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 CBAI’s 7th Annual Women in Community Banking Conference Inspires Attendees . . . . . . . . . . . . 17 Interest Rate Risk: A Priority for 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Bankers’ Private Cloud: Cloud-Based I.T. Services for Community Banks . . . . . . . . . . . . . . . . . . 27 So, You’re Thinking About Brokering Mortgage Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 CDD Fall Meeting: “Lead Out Loud” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Member Bank Partners in Co-op to Continue Offering Core System . . . . . . . . . . . . . . . . . . . 35 departments Coming Attractions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Welcome New Members . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Legal Link . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 Member News . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 Foundation Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 Index of Advertisers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 Published for Community Bankers Association of Illinois 901 Community Drive Springfield, IL 62703-5184 p. 217.529.2265 p. 800.736.2224 www.cbai.com Director of Publishing Krystie Dovenmuehler Copy Editor Carrie Bethel Layout & Design Jeremy Davis Sales Manager Marc Lucia To submit editorial or request information — email [email protected] p. 217.529.2265 For information regarding advertising please contact Marc at 800.572.0011or [email protected] Published by E&M Consulting, Inc. 1107 Hazeltine Boulevard Suite #350 Chaska, MN 55318 p. 800.572.0011 f. 952.448.9928 www.emconsultinginc.com Please note: Editorial and contents of this magazine reflect the records of the Community Bankers Association of Illinois (CBAI). CBAI has done its best to provide useful and accurate information, but please take into account that some information does change. E&M Consulting, Inc., publishers, and CBAI take no responsibility for the accuracy of the information printed, inadvertent omissions or printing errors. We take no responsibility regarding representations or warranties concerning the content of advertisements of products/services for a particular use, including all information, graphics, copyrighted materials, and assertions included in the advertisements. The reader is advised to independently check all information before basing decisions on such information. 6 www.cbai.com + Banknotes Community Bankers Association of Illinois Ginger Hampton, Kevin Beckemeyer, and Arla Wasson of Legence Bank, Eldorado accept the 2013 BKD Award at the CBAI Annual Convention & Exposition in Springfield. 2013 BKD Award FOR EXCELLENCE & I N N O V A T I on R E C I P I E N T Legence Bank University “In the past few years, we have been working through the worst financial crisis we have known since the Great Depression. ...We hear every day from people who lament the choices they made, often expressing anguished regret that they did not know more about the risks involved in financial decisions.” Financial Literacy and Education Summit held in Chicago, April, 2013 I n response to the challenge facing community banks to address this crucial need, Legence Bank, Eldorado initiated its own financial-literacy program, Legence Bank University (LBU). The program: • Was developed by Legence financial-service professionals who understand personal finance beyond mere theory, and who can effectively share the characteristics of positive money-management skills in real life; • Is motivating, fun, and accessible to parents, teachers, and students; • Is free to schools; and • Features a unique, identifiable mascot, Lucky the Star. LBU is an educational program to educate, inform, and encourage financial knowledge in the communities Legence Bank serves. LBU programs reach children in kindergarten through high school, 8 www.cbai.com + plus continuing education for adults. Legence Bank’s website, www.legencebank.com, features a special LBU section that takes the consumer to the area appropriate for their station in life. Elementary School Worksheets, games and activities are provided such as word search, maze, coloring sheets and “Fun Facts about Money.” The emphasis is on the three basic areas of money management: spend, save and share. Provisions are made for online privacy and security for children. Young Adults Videos are provided on “How To Save Money” and “How Mobile Banking Works.” Articles include “Frequently Asked Banking Questions for Teens and Grads,” “Financial Terms Dictionary,” and “Resumes – Tips To Get You Started.” Banknotes Community Bankers Association of Illinois Legence Bank University staff Olivia Bradley, Ginger Hampton, and Lucky the Star visit an Eldorado Elementary School firstgrade class. Continuing Education Videos include “How To Balance Your Checkbook” and “Your Credit Score.” Articles provided are “Financial Terms Dictionary,” “Best Practices To Help Protect Yourself from Identity Theft,” and “Store Credit Cards.” The first year of LBU, 200 students were reached. The following year, the number was increased to 1,200. Some teachers’ comments follow. “The presentation that the employees of Legence Bank give to our high-school seniors has a large impact on their financial futures. The demo that is shown to the class on how easy it is to take care of their finances through the bank’s website is a valuable lesson. Establishing communication between a bank and a young adult removes many barriers that might exist because of fear of the unkown or perhaps prior examples set by family members. Many students have visited Legence Bank after hearing the presentation in class, and several have opened new accounts.” Teresa Boulds, Eldorado High School services to premier examples of corporate citizenship. The 2014 nomination form for the award will be sent in January. Please consider your bank’s suite of unique services and philanthropic/ civic efforts. In 2013, Galena State Bank & Trust Company received an Honorable Mention for its Pink Ribbon Debit Card Program which benefits the fight against breast cancer. “As a junior-high math teacher, it is my honor to recognize Legence Bank for its willingness to come and educate my eighth-grade math students about financial stewardship. Providing a curriculum designed to teach students how to balance a checkbook, write checks, properly use a debit card, utilize online banking options, etc. serves as a valuable foundation for teaching life-application skills related to banking. This prepares students for the advanced skills to be taught in high school.” Jeffrey Herrmann, Gallatin County School “Your discussion and activities were on their knowledge level and very interesting to them. I personally feel that it is very important for students to learn how to save money. You did a great job making a fun lesson with such an important topic.” Blair Henson, First-Grade Teacher at Eldorado Elementary CBAI in conjunction with accounting firm BKD llp have presented the BKD Award for Excellence and Innovation each year since 1999. The purpose of the award is to recognize a highperforming, CBAI-member bank that demonstrates commitment to its employees, customers, shareholders, and/or community through exceptional programming. The BKD Award recognizes banks that go beyond the ordinary, from innovative customer Banknotes + January 2014 9 Community Bankers Association of Illinois 2014 CBAI Leadership BOARDS OF DIRECTORS OF CBAI AFFILIATED ORGANIZATIONS — on page four of Banknotes appears the names of those bankers who serve on the CBAI board of directors. Here is a listing of the members of the affiliated boards of directors and CBAI standing committees for 2013-14. Their time, consideration, and thoughtful participation are most appreciated. COMMUNITY BANCSERVICE CORPORATION CBAI FOUNDATION FOR COMMUNITY BANKING Board of Directors Board of Directors Todd Grayson, Chairman, South Central Bank, N.A., Chicago Gregg Roegge, Treasurer, Rushville State Bank Ray Altmix, Bank of Marion Scott Arnold, Durand State Bank Steve Backlund, Better Banks, Peoria Kevin Beckemeyer, Legence Bank, Eldorado Burnel Beckman, First National Bank of Dieterich Drew Black, Princeville State Bank Jeff Bonnett, Havana National Bank Sheila Burcham, Community Trust Bank, Irvington Patty Clarke, First National Bank of Raymond Will Coolley, Longview Capital Corporation, Newman Shawn Davis, CNB Bank & Trust, N.A., Carlinville Jim Dingman, BankORION John Dorsey, First National Bank of Staunton (Maryville) Ray Duncan, Hardware State Bank, Lovington Larry Franklin, CNB Bank & Trust, N.A., Alton Chris Gavin, Midwest Bank of Western Illinois, Monmouth Chris Gordon, Franklin Bank Rick Jameson, Morton Community Bank Gerry Johnson, Grand Ridge National Bank Mike Kelley, CBSC, Springfield Joe Leenerts, Herrin Security Bank Chad Martin, Goodfield State Bank David Pirsein, First National Bank in Pinckneyville Jim Potts, National Bank of Petersburg Gerry Reed, First National Bank of Brownstown Brad Rench, First Mid-Illinois Bank & Trust, N.A., Mattoon (Highland) Jeff Rolczynski, American Midwest Bank, Sycamore Alan Stremlau, Illini State Bank, Oglesby (Tonica) David Ward, North Central Bank, Hennepin Jim Weast, Warren-Boynton State Bank, New Berlin Bob Wingert, CBAI, Springfield Bill Wubben, Apple River State Bank Rick Hiatt, Foundation Chairman, Morton Community Bank Patty Clarke, Vice Chairman, First National Bank of Raymond Phil Lehmann, Vice Chairman, Harvard State Bank Kim McKee, North Central Bank, Hennepin (Ladd) Greg Richardson, Treasurer, Fairfield National Bank Gregg Roegge, Rushville State Bank Jeff Rolczynski, American Midwest Bank, Sycamore Sam Scott, Secretary, Scott State Bank, Bethany Bob Wingert (ex officio), CBAI, Springfield Banknotes CBAI CAREER DEVELOPMENT DIVISION Board of Directors Kim McKee, CDD Chairman, North Central Bank, Hennepin (Ladd) Ryan Beckemeyer, Legence Bank, Eldorado Joe Conroy, CCL*, First Farmers State Bank, Minier Tracy Downs, German-American State Bank, German Valley Ben Drebes, Farmers National Bank, Griggsville Kristen Eustis, First Federal Savings Bank, Ottawa Dax Garrison, Community Trust Bank, Irvington Karrie Herzog, CDD Secretary/Treasurer, Shelby County State Bank, Shelbyville Julie Jordal, American Midwest Bank, Sycamore Amy Logsdon, National Bank of Petersburg Carla Nicholson, Flora Bank & Trust Clint Squier, First Community Bank and Trust, Beecher * CCL Stands for Certified Community Lender — a designation created to professionalize the position of a community-bank lender WOULD YOU LIKE TO BE MORE INVOLVED IN CBAI AS A BANKER VOLUNTEER? Contact Andrea Cusick at 800/736-2224 or [email protected] and let us know you would like to participate! AFFILIATED ORGANIZATIONS AGRICULTURE COMMITTEE Kevin Beckemeyer, Chairman, Legence Bank, Eldorado Richard Anderson, Anderson State Bank, Oneida Joe Conroy, CCL, First Farmers State Bank, Minier Blain Cornwell, First National Bank in Taylorville Mike Estes, Fisher National Bank Todd Grayson, South Central Bank, N.A., Chicago Robert Heckler, Shelby County State Bank, Shelbyville Dennis Hesker, First National Bank of Okawville Mark Lawver, Table Grove State Bank Amy Logsdon, National Bank of Petersburg John Marshall, Bank of Pontiac Tony McLain, Gifford State Bank Rob Murray, Citizens State Bank of Milford Gerry Reed, First National Bank of Brownstown David Rennegarbe, First National Bank of Okawville Gregg Roegge, Rushville State Bank Kent Siltman, Citizens First State Bank of Walnut Doug Smith, Farmers National Bank of Griggsville Eric Stalter, Fisher National Bank Robert Sullivan, Oak Bank, Chicago John Williams, Jacksonville Savings Bank Bill Wubben, Apple River State Bank AUDIT COMMITTEE Bill Wubben, Chairman, Apple River State Bank Kevin Beckemeyer, Legence Bank, Eldorado Todd Grayson, South Central Bank, N.A., Chicago Rick Jameson, Morton Community Bank + January 2014 11 Community Bankers Association of Illinois COMMUNICATIONS COMMITTEE LEGISLATION & REGULATION COMMITTEE Jeff Rolczynski, Chairman, American Midwest Bank, Sycamore Debbie Devers, Capaha Bank, S.B., Tamms (Cape Girardeau, MO) Laura Elam, Morton Community Bank Jolleen Montgomery, BankORION Nichelle Nichols-Humphrey, State Bank of Toulon Hanna O’Brien, CNB Bank & Trust, N.A., Carlinville Delmar Sandage, Buena Vista National Bank, Chester (Decatur) Angela Truluck, First National Bank of Steeleville Todd Grayson, Chairman, South Central Bank, N.A., Chicago Frank Appleby Jr., Peoples’ Bank of Arlington Heights Jim Ashworth, CNB Bank & Trust, N.A., Carlinville Joy French Becker, Farmers State Bank & Trust Co., Jacksonville Mike Breisch, Mazon State Bank Sheila Burcham, Community Trust Bank, Irvington Frank Cerrone, Pan American Bank, Chicago Betty Chow, Pacific Global Bank, Chicago Joe Dively, First Mid-Illinois Bank & Trust, N.A., Mattoon John Dorsey, First National Bank of Staunton Timothy Dosch, First Neighbor Bank, Toledo (Mattoon) Keith Douglass, Tompkins State Bank, Avon (Galesburg) Douglas Dove, Shelby County State Bank, Shelbyville Tracy Downs, German-American State Bank, German Valley Mike Estes, Fisher National Bank Mark Field, Farmers Bank of Liberty Dan Graham, Flora Bank & Trust Dennis Guthrie, Illini Bank, Springfield Dennis Hesker, First National Bank of Okawville Rick Jameson, Morton Community Bank Gerry Johnson, Grand Ridge National Bank Dan Koenigstein, First National Bank of Dieterich (Belleville) Jason Knoedler, Bank of Springfield Steve Koehn, First Community Bank & Trust, Beecher Tony Liberatore, Illini Corp., Springfield Chris Phelps, State Bank of Niantic Rick Remijas Jr., Park Federal Savings Bank, Chicago Ken Scott, Preferred Bank, Casey Kent Siltman, Citizens First State Bank of Walnut Preston Smith, First National Bank, Mattoon Bill Smith, HomeStar Bank and Financial Services, Manteno Mark Spehr, First Community Bank, Elgin Hank Stephens, First National Bank of Dieterich Jeff Sterling, German-American State Bank, German Valley (Pecatonica) Mary Sulser, Buena Vista National Bank, Chester Steve Swinney, State Bank of Whittington, Benton Susan Volkert, Bank of Montgomery Bill Wubben, Apple River State Bank EDUCATION COMMITTEE Tom Marantz, Chairman, Bank of Springfield Dale Boyer, Arcola First Bank Beth Cotner, Scott State Bank, Bethany Don Dinges, Farmers State Bank of Sublette Maria Eckert, First Bankers Trust Co., N.A., Quincy Julie Eilers, Spring Valley City Bank Shari Ferry, First National Bank in Staunton Deanna Froneyberger, Community First Bank of the Heartland, Mt. Vernon Kelly Green, Herrin Security Bank Scott Hedden, Heritage Bank of Central Illinois, Trivoli Gwyn Helton, Shelby County State Bank, Shelbyville Julie Jordal, American Midwest Bank, Sycamore Rick Klinedinst, MidAmerica National Bank, Canton Janice Lampe, Morton Community Bank (Toluca) Angela Lampley, Bank of Herrin Rebecca Lowrance, CNB Bank & Trust, N.A., Carlinville Lloyd Murphy, Tuscola National Bank Erin Pinter, Spring Valley City Bank Mike Renner, Bank of Yates City Doug Smith, Farmers National Bank, Griggsville Amy Thiede, CCL, Prairie Community Bank, Marengo FINANCE COMMITTEE Gregg Roegge, Chairman, Rushville State Bank Kevin Beckemeyer, Legence Bank, Eldorado Mike Estes, Fisher National Bank Todd Grayson, South Central Bank, N.A., Chicago Rick Jameson, Morton Community Bank Mike Kelley, CBSC, Springfield Mary Sulser, Buena Vista National Bank, Chester Bob Wingert, CBAI, Springfield Bill Wubben, Apple River State Bank 12 www.cbai.com + MEMBERSHIP COMMITTEE David Pirsein, Chairman, First National Bank in Pinckneyville Sheila Burcham, Community Trust Bank, Irvington John Dosier, First Southern Bank, Carbondale Jeff Hammes, Peoples Bank of Kankakee County, Bourbonnais David Loundy, Devon Bank, Chicago Mike Mahair, State Street Bank & Trust Co., Quincy Eric McRae, First Mid-Illinois Bank & Trust, N.A., Mattoon (Decatur) Dianna Torman, Prairie Community Bank, Marengo PENSION COMMITTEE Bill Wubben, Chairman, Apple River State Bank Rick Hiatt, Morton Community Bank Mike Kelley, CBSC, Springfield Ron Minnaert, State Bank of Graymont Gregg Roegge, Rushville State Bank Bob Wingert, CBAI, Springfield SPECIAL EVENTS COMMITTEE Tony Sisto, Chairman, STC Capital Bank, St. Charles Jeff Bonnett, Havana National Bank Shawn Davis, CNB Bank & Trust, N.A., Carlinville Dan Graham, Flora Bank & Trust Cindy Martin, Lena State Bank Doug Parrott, State Bank of Toulon Lori Pieper, Community State Bank, Galva David Stanton, PeopleFirst Bank, Joliet Pam Turner, Citizens First State Bank, Walnut Brian Ury, First National Bank in Staunton Julie Welborn, Fisher National Bank STRATEGIC PLANNING COMMITTEE The Strategic Planning Committee consists of all members of the CBAI and CBSC Boards of Directors, plus the following past chairmen of CBAI: Jim Ashworth, CNB Bank & Trust, N.A., Carlinville Jim Caspary, First Trust & Savings Bank, Watseka David Combs, First National Bank in Taylorville Gary Edwards, State Bank of Lima Mark Field, Farmers Bank of Liberty Jim Ghiglieri, SHAZAM®, Toluca Dennis Hesker, First National Bank of Okawville Gerry Johnson, First National Bank, Grand Ridge Roger Lehmann, Harvard State Bank Art Murray, Citizens State Bank of Milford Fred Paige, Farmers State Bank, Elmwood Paul Pogue, North Adams State Bank, Ursa Sam Scott, Scott State Bank, Bethany Jim Shafer, First National Bank in Tremont Kent Siltman, Citizens First State Bank, Walnut Ed Williams, Bank of Lawrence County, Bridgeport Jim Winningham, State Bank of Arthur Banknotes Community Bankers Association of Illinois TECHNOLOGY COMMITTEE Rick Jameson, Chairman, Morton Community Bank Burnel Beckman, First National Bank of Dieterich Rick Catt, First Robinson Savings Bank, N.A., Robinson Tanya Cowan, Buena Vista National Bank, Chester Tod Eastman, HomeStar Bank, Manteno Mark Field, Farmers Bank of Liberty Dan Fischer, Better Banks, Bartonville Ron Hallam, Fairfield National Bank John Hampson, American Enterprise Bank, Buffalo Grove Ed Heck, First National Bank of Nokomis Ryan Heiser, Fisher National Bank Matt High, Citizens State Bank of Milford Gerry Johnson, Grand Ridge National Bank Joe Leenerts, Herrin Security Bank Sarah O’Brien, American Midwest Bank, Sycamore Joe Peterson, Morton Community Bank Jake Pietkiewicz, First National Bank in Paxton Don Roch, Havana National Bank Phil Smith, Harvard State Bank Matt Turley, CNB Bank & Trust, N.A., Carlinville Loren Follmer, Tompkins State Bank, Avon Lynette Goldsmith, West Central Bank, Ashland Wendy Hoekstra, First Community Bank, Beecher Angela Lampley, Bank of Herrin Teresa Lovekamp, Midland Community Bank, Kincaid (Taylorville) Rick McGuigan, Community Bankers of Wisconsin Runay Olson, ICBA, Sauk Centre, MN Erin Pinter, CCL, Spring Valley City Bank Terry Prosise, Community First Bank of the Heartland, Mt. Vernon Veronica Schmitt, First State Bank, Mendota Mary Smid, Henry State Bank Jodi Swilley, Community Bankers Association of Georgia EDUCATION AUDITING SUBCOMMITTEE Lisa Frerking, Chairman, Citizens Community Bank, Freeburg Audrey Brueggeman, Farmers & Merchants National Bank, Nashville Angela Lampley, Bank of Herrin Patricia Whitehurst, National Bank of Petersburg EDUCATION MARKETING SUBCOMMITTEE Maria Eckert, Chairman, First Bankers Trust Company, N.A., Quincy Erin Dahms, State Bank, Freeport Debbie Devers, Capaha Bank, s.b., Tamms Dena McDonald, First Farmers State Bank, Minier (Bloomington) Kim McKee, North Central Bank, Hennepin (Ladd) Ann Scholtes, Bank of Pontiac Angela Truluck, First National Bank of Steeleville Arla Wesson, Legence Bank, Eldorado WOMEN IN BANKING SUBCOMMITTEE Beth Cotner, Chairman, Scott State Bank, Bethany Kate Alsup, West Central Bank, Ashland (Springfield) Jennifer Beard, Farmers State Bank, Elmwood Amy Logsdon, National Bank of Petersburg Suzy Perino, Sauk Valley Bank, Sterling (Rock Falls) Erin Pinter, CCL, Spring Valley City Bank Sally Quinn, Security Bank, s.b., Springfield AG LENDERS’ CONFERENCE SUBCOMMITTEE Doug Smith, Chairman, Farmers National Bank, Griggsville Jennifer Beard, Farmers State Bank, Elmwood Kerry Hoops, CCL, German-American State Bank, German Valley Alan Hoskins, Legence Bank, Eldorado Ron Rinkenberger, State Bank of Toulon CHICAGO-AREA EDUCATION SUBCOMMITTEE Amy Thiede, CCL, Chairman, Prairie Community Bank, Marengo Ron Cerutti, Jr., American Midwest Bank, Sycamore Kathy Hardy, Leaders Bank, Oak Brook Jeanne Lewis, Glenview State Bank David Loundy, Devon Bank, Chicago Susan Mead, Lisle Savings Bank COMMUNITY BANKERS SCHOOL SUBCOMMITTEE Lisa Julie Eilers, Chairman, Spring Valley City Bank Kate Alsup, West Central Bank, Ashland (Springfield) Jaci Billingsley, West Central Bank, Ashland Jennifer Bitter, First National Bank, Litchfield Leann Clark, State Bank of Davis Travis Cooley, Farmers Bank of Liberty Nicole Dilbeck, State Bank of Blue Mound JoAnna Engels, North Central Bank, Hennepin (Ladd) Banknotes + January 2014 13 Community Bankers Association of Illinois Four Ways to Mitigate Risk in Banking Mary Ellen Biery, Research Specialist, Sageworks, Raleigh, NC B ankers in today’s environment face a number of challenges, including deciphering and complying with ongoing regulatory changes, developing and conducting adequate stress-testing methods and justifying or defending changes in their allowance reserves. But bankers can do many things to mitigate risk in those areas, according to several industry experts participating in the Second Annual Sageworks Risk Management Summit last month. Here are four pieces of advice: 1. Document the rationale for loan upgrades. Linda Keith CPA, whose firm trains business lenders in credit analysis, says bankers should be careful to document the thinking behind their judgment that a loan should be upgraded for purposes of the allowance for loan and lease losses (ALLL). “It’s important to eliminate regulator guesswork,” she says. It’s also important, she says, for financial institutions to verify that guidelines for analyzing a potential upgrade are “clear, clearly communicated to, and consistently followed.” Keith helped lead a presentation on deciding and defending upgraded loans for the ALLL at the December 5-6 summit. 2. Don’t be afraid to uncover vulnerabilities. RMPI Consulting partner Jay Gallo, who discussed “Integrating Risk Appetite, Stress Testing and Capital Planning,” says stress testing is positive in that it enables financial institutions to gauge their potential vulnerability to exceptional but plausible adverse events. “Stress testing should assess and quantify your institution’s vulnerabilities under multiple unfavorable scenarios,” he says. “Once the potential downside is understood, you can take steps to reduce or mitigate those risks, or you can ensure you have sufficient capital to manage those risks.” institutions looking to prepare and manage stress-test forecasts need to know three key things: • The institution’s portfolio • The scenarios and their impact on the bank’s capital and liquidity • The forecasts including what they show and why. Gregory and Keever’s presentation also outlined three lines of defense all institutions need for stress-test production. 4. Set deadlines. “To make the year-end ALLL as efficient as possible, it is best to get as much work done as possible prior to year end,” says Mike Lubansky, director of consulting services at Sageworks. To do that, financial institutions should set hard deadlines for: • Risk-rating changes • Charge-offs • Updating the core system to reflect the risk-rating changes • Determining the loans that need to be reviewed for impairment (FAS 114/ ASC 310) and • Updating the data on the impairment analyses (appraisal values and selling costs, or cash flows). Industry experts also participated in a panel discussion on year-end ALLL calculations at the Summit. n About Sageworks – Raleigh, N.C.-based Sageworks is a financial information company that provides risk-management solutions to financial institutions. It is a CBSC preferred service provider and was named CBAI Vendor of the Year in 2009. About the Author – Mary Ellen Biery is a research specialist at Sageworks, where she produces content for the company’s blogs and websites, the “Sageworks Stats” blog on Forbes.com, and other outlets. She is a veteran financial reporter whose works have appeared in The Wall Street Journal and on Dow Jones Newswires, CNN.com, MarketWatch.com, CNBC.com, and other sites. Biery can be reached at: [email protected]. 3. Develop a successful stress-testing framework with three “knows.” Jack Gregory and Dave Keever, senior stress testing and credit experts for Crowe Horwath, say financial Banknotes + January 2014 15 16 www.cbai.com + Community Bankers Association of Illinois Top left – Keynote speaker Kelly Swanson inspires the audience with her enthusiasm, humor and thought-provoking stories. Top right – Elaine Hand’s interactive session gets attendees up and moving. Bottom left – Jean McMaster of Welch Systems speaks with Crystal Baylor and Angie Hobbs of Fisher National Bank during the mini-expo. Bottom right – Participants enjoy an uplifting session at the conference. CBAI’s 7 th Annual Women in Community Banking Conference Inspires Attendees O n November 19, CBAI held its seventh annual Women in Community Banking Conference at the Crowne Plaza in Springfield. Participants from all areas of banking throughout Illinois benefitted from expert speakers, pertinent and informative topics, peer networking and a miniexpo. This one-day conference was developed by a committee of female community-bank professionals who shaped the agenda to address top concerns facing women professionals, as well as pertinent banking issues for community banks. This conference helped participants restore their passion for work and home and find a renewed sense of purpose. Attendees also learned how to set themselves apart from the competition, motivate themselves to deal with stress and change, form stronger teams, embrace change, inspire accountability and more! An address from CBAI Chairman Bill Wubben also highlighted the day. The conference was kicked off by Kelly Swanson, High Point, NC, with her session entitled “Who Hijacked My Fairy Tale,” followed by an interactive session with Elaine Hand of Innerview, Inc., entitled “Change Is Good – You Go First.” Theresa Lovekamp, Midland Community Bank, Kincaid, agreed, saying “Kelly Swanson was entertaining and kept my attention. Elaine Hand was thought-provoking, and I enjoyed her presentation. I really enjoyed myself and hope to be able to attend next year!” Closing out the morning’s education was a Consumer Financial Protection Bureau (CFPB) Update with Robin Loftus, who served as the chair of the CFPB’s Community Bank Advisory Council during 2012 and 2013 and is a Past Chairman of CBAI. After a networking lunch where participants were seated by area of banking, CBAI Chairman Bill Wubben, president of Apple River State Bank, provided an update on the association, the future of community banking, and opportunities to become more involved with CBAI. Participants then heard from Julia Johnson of Wipfli LLP on “Accountability and Emotional Intelligence.” Her program explored the concepts and skills associated with emotional intelligence, influence, and accountability and examined ways to increase staff accountability. “Kelly was wonderful! Very engaging!” said Jodi Banker, Security Bank, s.b., Springfield. “I could have listened to her all day!” Banknotes + January 2014 17 Community Bankers Association of Illinois “Julia is a very good speaker,” said Amy Logsdon, National Bank of Petersburg. “She provided very interesting and intelligent information.” Closing out the conference was a session called, “Stand Up and Stick Out in a Crowded Market – Because Nobody Notices Normal,” with Swanson. A mini-exposition featuring the latest in products and services designed for community banks also highlighted the day. “I loved Kelly Swanson – she was very inspirational!” said Joan Honeycutt, Farmers State Bank of Danforth. “This was one program where I looked forward to the last speaker of the day instead of thinking of reasons to leave early.” An evening social activity was also offered the night before the conference which included dinner, drinks and dessert at the Rosewood Dining Room at the Crowne Plaza. The well-received event provided participants with opportunities to network with female community bankers from across the state. Women in Community Banking SUBCommittee •*Chairperson Erin Pinter CCL, Spring Valley City Bank •Kate Alsup, State Bank of Ashland (Springfield) •*Jennifer Beard, Farmers State Bank of Elmwood •*Beth Cotner, Scott State Bank, Bethany •*Amy Logsdon, State Bank of Petersburg •Suzy Perino, Sauk Valley Bank, Sterling (Rock Falls) •Sally Quinn, Security Bank, s.b., Springfield n *denotes member of CBAI Career Development Division Christie Schmidt, Spring Valley City Bank, agreed saying “Each speaker was so enthusiastic, and their enthusiasm came from overall knowledge and passion for what they do. I really enjoyed this seminar and would definitely be interested in others sponsored by CBAI.” Exhibiting Firms BOS Financial Services 3400 West Wabash Avenue Springfield, IL 62711 401(k) Services Stephen Raupp 217/529-5555 CBAI Foundation for Community Banking 901 Community Drive Springfield, IL 62703 Endows the Association’s Annual Scholarships for HighSchool Seniors, the Children and Grandchildren of Community Bankers, and Member Banks’ Employees Andrea Cusick 217/529-2265 — 800/736-2224 (in Illinois) Community BancService Corporation 901 Community Drive Springfield, IL 62703 Access to Top-Quality Products and Services Mike Duke 217/529-2265 — 800/736-2224 (in Illinois) 18 www.cbai.com + Harland Clarke 23-126 Lake Carroll Boulevard Lake Carroll, IL 61046 CBSC Preferred Provider of Check Printing, Direct Marketing & MCIF Diane Schipkowski 815/493-8763 Innerview, Inc. 17022 Hoover Road Sterling, IL 61081 HR Consulting – Leadership Development Elaine Hand 815/499-9181 iZale Financial Group 1901 North Roselle Road Suite #800 Schaumburg, IL 60195 BOLI, Executive Benefits Phil Aderton 630/561-9071 Welch Systems, Inc. 7206 North Terra Vista Drive Peoria, IL 61614 CBSC Preferred Provider of Talaris Cash Solutions Banking Equipment, ATMs, Banking Supplies, & Maintenance Jean McMaster 800/322-2657 Banknotes me Interest Rate Risk: A Priority for 2014 Jeffrey F. Caughron, Associate Partner, The Baker Group LP, Oklahoma City, OK The Banking Environment: As we move into a new year, the U.S. economy continues to plod along at a slow and steady pace. Things are getting better, but we’re still far from where we were before the “Great Recession” began. Meanwhile, the banking landscape has improved markedly as earnings clocked 16 consecutive quarters of year-over-year increase. Returns-on-assets remain below pre-recession levels, but they’re higher than a year ago and comfortably above one percent. Much of the improved performance comes from healthier asset quality. Loan losses have declined to levels not seen since 2007, and provisions have fallen nearly forty percent. All of this is good news, but make no mistake; banks face a multitude of challenges ahead. Spotlight on Interest Rate Risk: Not the least of these challenges is that of potential interest rate risk (IRR). Regulatory agencies have once again elevated IRR as a focal point for examiners, as evidence suggests that many financial institutions are taking on higher levels of interest rate risk. Balance sheets have changed noticeably in recent years as loan demand has been weak and shortterm rates have hugged historic lows. This could leave them significantly exposed to a sustained increase in interest rates. In October, the FDIC released an FIL on Sensitivity to Market Risk. Simultaneously, the OCC conducted a webinar to address the IRR issues they thought most important. There 20 www.cbai.com + is a consensus among regulators that the essential risk for banks stems from long-term (or high-duration) assets funded by non-maturity deposits that have surged into bank balance sheets in the wake of the Great Recession. The influx of “surge deposits” has regulators concerned about the potential for fast rising interest expense from rate sensitive liabilities. At the same time, asset values could come under greater pressure than in past rate cycles because effective durations are relatively high. The price risk of some investment portfolios has increased significantly in the past few years due to lengthened maturities, options risk, and declining yields. Management Tools: The regulatory concerns should cause bank managers to ponder several questions about the reporting tools that they have at their disposal: 1.Do we have reports that project securities depreciation relative to capital in a rising rate environment? 2.Does our IRR model shock the fair value of regulatory and risk-based capital ratios as well simple equity capital? 3.Do we have a way to model faster re-pricing liabilities relative to earning assets? 4.Are “floors” on loans modeled properly in our IRR system? 5.Do we have reports that show how our balance-sheet liquidity is affected by rising interest rates? 6.What if we just want to look at securities cash flow? Banknotes Community Bankers Association of Illinois Risk-management decision-making depends on thorough and meaningful data in a useable report format. The five questions above are good ones to consider when assessing the adequacy of an IRR reporting system. reviews should ensure that floors on loans are being modeled properly. The dynamics of balance-sheet cash flows should be reported and reviewed, and investment cash-flow projections tracked for different rate environments. Risk, Capital, and Stress Tests: It makes good sense to measure and monitor the relationship between unrealized losses and capital. And this extends to various measures of capital itself. For example, if we apply the mark-to-mark adjustment for securities to risk-based capital measures, we can more closely capture a total picture of the bank’s relative risk. All else being equal, a bank that makes relatively few loans can sometimes justify a higher level of interest rate risk than a bank with a high loan/deposit ratio. Similarly, well-capitalized banks with pristine asset quality can tolerate more interest rate risk than those with high “Texas Ratios.” Banks have again been given a “heads up” from examiners on interest rate risk. With proper reporting tools, good policies, and sound processes, the regulatory challenge can be met and the potential risks managed for a smooth and profitable 2014. n Institutions should run stress tests on assumptions for nonmaturity deposits in IRR models to identify exposure to rising rates and higher interest expense. Back tests and assumptions Banknotes THE BAKER GROUP is a preferred service provider of Community BancService Corporation (CBSC). For more information, contact Jeffery Caughron at THE BAKER GROUP: 800/937-2257, www.GoBaker.com, or email: [email protected]. *THE BAKER GROUP LP is the sole authorized distributor for the products and services developed and provided by THE BAKER GROUP SOFTWARE SOLUTIONS, INC. + January 2014 21 BANKERS’ PRIVATE CLOUD CLOUD-BASED I.T. SERVICES FOR COMMUNITY BANKS Charles Cheatham, SVP & General Counsel, BankOnIT, Oklahoma City, OK BankOnIT has created a unique cloud-based I.T. solution for community banks: the Bankers Private Cloud™. This service combines security and other unique characteristics of a private cloud with the capabilities and efficiencies of a public cloud. Two types of cloud computing are generally available—public and private. A public cloud is designed for the general public. Data is stored remotely and accessed through the Internet with a username and password. The public cloud provides immense economies of scale because costs can be spread over a large numbers of users. However, banks have certain requirements—such as privacy laws, internal controls, regulatory oversight, disaster recovery and location where data is stored—that make the public cloud unacceptable. A private cloud usually involves only one company. It provides more security than a public cloud, and permits unique applications and controls that serve the entity’s needs. The top ten largest banks in the U.S. use the private cloud approach to provide specialized capabilities throughout their vast branching networks. But a community bank lacks necessary scale to create and maintain its own private cloud with features like these megabanks enjoy. BankOnIT solved this problem by creating a private cloud that offers banks the efficiencies and capabilities gained from use of a public cloud, with the security and unique features of a private cloud. “BankOnIT understands the financial industry’s requirements— security, reliability, scalability and regulatory compliance— and brings them together in one complete solution for a bank’s I.T. network,” said Robert Mendez, EVP of BankOnIT. Mendez, a former banker who was one of the firm’s first clients, added, “The staff at BankOnIT includes not only Banknotes technical experts, but also former bankers and a banking attorney, to help keep bankers competitive in today’s rapidly changing technical and regulatory environment.” Mendez noted, “We continue to earn the business of bankers across the country because we understand the unique needs of the banking industry. We specially designed the Bankers Private Cloud™ to meet those needs. Bankers have enough to worry about. They don’t need to struggle with changing technology and the resulting regulatory issues. We make it easier for bankers to focus on running their banks and spending more time with their customers.” In a recent speech about cyberattacks on banks, Thomas Curry, U.S. Comptroller of the Currency, stated, “How does an institution know whether its defenses are sufficient?... The fact is that cyberattackers need only limited resources to trigger significant costs for these institutions.” He emphasized, “[W]e’re devoting more resources to cybersecurity—at all of our institutions, but especially at community banks and thrifts.” n About BankOnIT BankOnIT is a preferred service provider of Community BancService Corporation (CBSC). Headquartered in Oklahoma City, BankOnIT offers a cloud-based I.T. solution that meets the unique needs of community banks. BankOnIT’s resources help a community bank to meet its goals while reducing risk, increasing capabilities, controlling costs and improving regulatory compliance. Visit BankOnIT’s webpage at www.bankonitusa.com. Contact Robert Mendez, EVP, for more information at 800/498-8877 or by e-mail at [email protected]. + January 2014 27 So, You’re Thinking about Brokering Mortgage Loans Tim Tedrick, CRCM, CRP, Partner, WIPFLi, Sterling, IL M any financial institutions have already become brokers of mortgage loans rather than or in addition to being direct lenders. Some financial institutions might be considering a change to a broker model in light of the mortgage changes coming in January 2014. There are different methods and workflows for brokering loans. A financial institution can be a “pure” broker by limiting its involvement to obtaining applications, issuing early disclosures, and funneling the applications to a creditor/lender/investor that underwrites the loans, prepares all the closing documents, and closes the loans in the name of the investor with the investor’s money. Alternatively, the application is sent to the investor that makes the credit decision, but the loan closes in the financial institution’s name with the financial institution’s money, and the loan is sold to the investor a few days or weeks later. There are other variations, but even slight modifications in the process can impact the regulatory demands. Home Mortgage Disclosure Act (HMDA) If you are not an HMDA reporter, you can skip this section. If you are an HMDA reporter, it is important when engaging in a broker relationship to make it clear which party will be making the credit decision and document that in the contract with the investor. For examiners, if the loan package is sent to the investor prior to closing, then the investor is making the credit decision, and the application must go on the investor’s LAR. According to Appendix D of Regulation C, if the broker makes the decision based on the investor’s underwriting criteria, the broker reports the loan. Another way it might play out is to assume that, prior to closing, four investors Banknotes receive the same application from a broker; two deny it, one approves it, and one approves it and acquires the loan. In this circumstance, the first two report denials, the third reports the transaction as approved but not accepted, and the fourth reports an origination (whether the loan closes in the name of the broker or the investor). If the broker denies a loan before sending it to an investor; the broker reports a denial. So it is important to know who is making the decision to avoid double reporting or not reporting a loan application. Regulation X A good faith estimate (GFE) must be provided within three business days of the broker receiving the six pieces of information that make up an application. The lender is responsible for ascertaining whether the GFE has been provided. If the broker is closing the loan in its own name with its own funds, then the sale of the loan to the lender is considered a true secondary market transaction and the profit from the sale is not reflected in the GFE. If the loan is closing in the lender’s name or is table funded by the lender to close in the broker’s name, the money paid by the lender to the broker is disclosed on the GFE as a negative number in Line 2 of the GFE. The amount shown on Line 1 is equal to the net amount charged to the consumer plus the amount paid to the broker. Line A is the net amount charged to the borrower. The handling of the gross and net is the same on the HUD-1, with the gross amount shown on Line 801, the broker fee shown as a negative number on Line 802, and the net number on Line 803. It might seem odd, but that is the way HUD wrote the instructions. If the loan is not closing in the broker’s name with the broker’s money, then the broker cannot be paid without violating Section 8 referral fee rules unless the broker earns + January 2014 29 Community Bankers Association of Illinois the payment. In a 1999 policy statement, HUD laid out the minimum standards that, after taking the application, a broker must perform at least five additional services from this list, one of which must be a non-counseling service. • Analyzing the borrower’s income and debt • Educating the borrower on the home buying and financing process • Collecting financial information • Ordering verifications of employment and of deposits* • Ordering mortgage and loan verifications* • Ordering appraisals* • Ordering inspections or engineering reports* • Providing various required disclosures* • Counseling the borrower concerning credit problems • Maintaining contact with the various parties to the process • Ordering legal documents* • Determining flood zone coverage* • Participating in the loan closing* *Non-counseling service Parts of the list might not be useful any longer because of changes in the loan origination process and restrictions on appraisal orders. Regulation Z Fees charged by a broker, including fees paid by the consumer directly to the broker or to the creditor for delivery to the broker, are finance charges even if the creditor does not require the consumer to use a broker and even if the creditor does not retain any portion of the charge. Creditors sometimes compensate mortgage brokers under a separate arrangement with those parties. Creditors may draw on amounts paid by the consumer, such as points or closing costs, to fund their payment to the broker. Compensation paid by a creditor to a broker under an agreement is not included as a separate component of a consumer’s total finance charge, although this compensation may be reflected in the finance charge if it comes from amounts paid by the consumer to the creditor that are finance charges. When a loan closes in an investor’s name or is table funded by the investor, the investor is the creditor, and the broker is an originator. The amount paid to the broker cannot vary based on the terms and conditions of the loan. When the loan closes in the originator’s name with the originator’s money, the originator and the creditor are the same entity, and the sale of the loan to the investor is a secondary market transaction not subject to the loan originator compensation restrictions. There are anti-steering rules to be concerned about for originators using multiple investors. There is a safe harbor provision to protect against allegations of steering if the originator obtains loan options from at least three creditors with which the originator regularly does business and presents the consumer with loan options that include: • The loan with the lowest rate. • The loan with the lowest total dollar amount for origination points or fees and discount points. • The loan with the lowest rate without negative amortization, a prepayment penalty, interest-only payments, a balloon payment in the first seven years, a demand feature, shared equity, or shared appreciation. It makes sense for some financial institutions to become only brokers/originators, for some financial institutions to become investors/creditors for other financial institutions in addition to originating loans for which they are also the creditor, and for some financial institutions to remain creditors/originators and not become investors or brokers. Whichever you choose, understand the role you are playing and who does what in the process and ensure your compliance pieces are in place and that it is all documented clearly for regulators. If embarking on a new venture, contact your regulator to obtain their position on reporting requirements and other concerns they might have. n Tedrick can be reached at 800/486-3454 or [email protected]. 30 www.cbai.com + Banknotes Banknotes January MARCH MAY JULy SEPTEMBER NOVEMBER Editorial Date – December 9, 2013 Editorial Date – February 7, 2014 Editorial Date – April 7, 2014 Editorial Date – June 9, 2014 Editorial Date – August 8, 2014 Editorial Date – October 8, 2014 Artwork Date – December 13, 2013 Artwork Date – February 14, 2014 Artwork Date – April 11, 2014 Artwork Date – June 13, 2014 Artwork Date – August 15, 2014 Artwork Date – October 17, 2014 REACHING 3,000+ With articles written by the financial services’ most authoritative practitioners and consultants in the field, Banknotes covers a broad range of subjects, including the following: • Legislative and Legal Updates • Growth Management • Conventions and Educational • Marketing and Branding Seminars Notices • Compliance and Regulatory Issues • Technology • Adding Value and Relevancy to Client Services • Communication Concerns • Organizational Performance • Leadership and Operations Planning • Risk Concerns and Assessments • Finance Management • Cash-Flow and Investment Portfolio Management • Tax Considerations • Compliance Contact E&M Consulting, Inc. regarding Adver tising Sales 800.572.0011 // 217.391.3719 // [email protected] 1-ISSUE RATE BANKNOTES is the premier, AWard Winning PROFESSIONAL TRADE JOURNAL for COMMUNITY BANKERS SIZE B & W Back Cover COLOR $ 1,029 Inside Covers $ 949 PAGE 3 $ 949 Full Page $ 729 $ 829 /2 Page $ 649 $ 749 1 /4 Page $ 619 $ 719 Business Card $ 329 $ 399 1 SIZE 6-ISSUE RATE Community Bankers, Accountants, Attorneys, Auditors, Credit-Rating Agencies, Data-Processing Companies, Merchant-Card Services, Human Resources, Consultants and others! ADVERTISING RATES B & W COLOR Back Cover $ 4, 299 Inside Covers $ 4, 049 PAGE 3 $ 4, 049 Full Page 3,279 $ 3,799 2,469 $ 2, 849 $ /2 Page $ 1 /4 Page $ 1,799 $ Business Card $ 1,219 $ 1 2,139 1,499 Left: Didi Drake, Bank of Chestnut, and Patricia Niendorf, Goodfield State Bank, listen to the general session. Below: Tracy Downs, German-American State Bank, German Valley, requesting a song during the fun and entertaining dueling piano show. ChaiVay Chau and Jenny Beals, BKD llp, during one of the popular and beneficial networking sessions. General session speaker, Elaine Hand. CDD Fall Meeting: CDD ANNUAL SPRING MEETING March 18-19 Hilton Hotel, Springfield Featured Speaker: David Kemp, Bankers Management, Inc. Watch for more details on this exciting program 32 “Lead Out Loud!” N early 70 members gathered for the 2013 Fall Meeting of CBAI’s Career Development Division (CDD) October 22 at the Peoria Marriott Pere Marquette. The evening prior to the meeting, CDD members participated in an interactive and thoroughly entertaining networking social at the hotel. The entertainment was “Coole 2 Duel,” a dueling piano show. recruitment efforts were: Jennifer Beard, Farmers State Bank, Elmwood; Karrie Herzog, Shelby County State Bank, Shelbyville; Veronica Schmitt, First State Bank, Mendota; and Beth Zappa, Buena Vista National Bank, Chester. These individuals received a CDD logo insulated mug with $10 inside for each new member they recruited and are eligible for the overall recruitment prize of $100 cash. This year’s Fall Meeting began with the popular networking session. This session provided attendees the opportunity to participate in roundtable discussions according to their respective areas of banking. This was followed by a Legislative Update by Kraig Lounsberry, CBAI senior vice president of governmental relations. Elaine Hand then presented her session entitled, “Lead Out Loud.” The afternoon agenda also featured breakout sessions on A/L Management, sales, compliance, elder abuse and other important topic. A second networking session was then conducted to allow participants an opportunity to exchange ideas. Elaine Hand concluded this year’s Fall Meeting with a continuation of the earlier general session. n The Annual Business Meeting Luncheon featured an address from CBAI Chairman Bill Wubben of Apple River State Bank on the association along with Andrea Cusick, CBAI senior vice president of communications, with an update on CBAI’s Foundation for Community Banking Capital Campaign. CDD’s current membership, financial issues and convention activities were also reported. The results of the membership campaign were also announced during the luncheon. CDD members recognized for their www.cbai.com + New CDD Members Kristi Fessler, Farmers Bank of Liberty Jeanie Glass, CNB Bank & Trust, N.A., Carlinville Adam Parrott, Farmers State Bank, Elmwood Landon Reutter, First Trust & Savings Bank, Watseka Kyle Runge, First National Bank of Sparta Joe Stouffer, First National Bank in Tremont Denise Swanson, Prairie Community Bank, Marengo Banknotes Community Bankers Association of Illinois Member Bank Partners in Co-Op to Continue Offering Core System W aldorf Computer Systems (WCS), of West Des Moines, IA, a corebanking system provider since 1977, has entered into an agreement to transition ownership of its core-banking software product (BANCADO) to the Community Bankers Cooperative (in formation), a not-for-profit, memberowned and controlled cooperative. Leonard Waldorf, president of WCS and primary author of the software had been evaluating various strategies to ensure continuity for the program, and had several offers to sell to competing firms, but chose to work with the user banks to protect their interests. “If we had chosen to sell out to a competitor, it would have supported our banks for maybe a few years, and then forced them to convert to other programs,” said Waldorf. “Many of my banks have been with me for decades, and are more like family than customers, so it made perfect sense to help them form a cooperative and have some control over the future of their program.” Waldorf will stay actively involved and will work with the co-op for the next several years to ensure a smooth transition and for training purposes. One of the organizers of the cooperative is Mark Field, president and chairman of $88 million-asset The Farmers Bank of Liberty in Illinois. “It is Banknotes time for small banks to band together and share resources in the IT arena. By owning our own core, our co-op banks will not be at the mercy of their vendors when it comes to fees and upgrades,” Field said. “It is also our hope that each of the member banks will open up and communicate with each other to share tips and strategies to help one another through the vexing issues facing the IT area, because not every bank can afford a full-time IT staffer. We want to create a ‘community’ of community banks to help keep our costs down and keep us all competitive.” Chuck Goodwin, president of BSIEagle Computers in Gardendale, AL, started selling the BANCADO product in Alabama in 1983 after a successful career in the data-processing department of a regional bank, and already supports several of the banks now using the BANCADO program. His firm will be one of the key partners for the co-op going forward, as the firstline telephone support is transitioned to his firm, over time, from Waldorf. “We are looking forward to helping more banks improve their backroom operations, and have the tools they will need at the front line to take excellent care of their customers,” says Goodwin. Goodwin also provides hardware solutions and support to his banks. When banks began to head toward check imaging several years ago, Goodwin enlisted the help of Rob Tarte from Pacific CodeWorks in San Francisco to provide a solution for processing images through the BANCADO program. Tarte’s firm will be the other key partner for the co-op, providing programming and support services to keep the program up-to-date and make new services possible. “We have worked closely with BANCADO for years with our imaging suite, and now we are excited about taking that relationship to the next level,” explained Tarte. “We are looking forward to enhancing BANCADO and creating better integration with our imaging suite so that we can move the BANCADO community to the next level of performance, features, and ease of use.” The Community Bankers Cooperative will be governed by a board of directors elected by the membership, who will then work closely with the two partners on the future direction of the program. “The beauty of this structure is that the banks will no longer have to worry about whether or not their core vendor is going to sell to the highest bidder and leave them hanging. The member banks, collectively, ARE the vendor. That should make bank examiners happy!” concluded Field. n + January 2014 35 Community Bankers Association of Illinois C O M I N G FEBRU A RY CBC Program 2nd Quarterly Meeting 4 Webinar A TTR CEO Forum Group III –– 12 Escrow Account Compliance: 12 Meeting –– Hilton Lisle/Naperville Trust Compliance in Opening 25 Accounts & Lending Deposit Documentation –– 26 Credit Risk Management Workshop 12 –– Hilton Hotel Lisle/Naperville Email Archiving & Encryption: 26 4th Quarter Banking Essentials: 19 “Integrated Bank Security, Compliance, & Customer Service” –– CBAI West Conference Room, Springfield 19-21Commercial Lending Institute –– Hilton Garden Inn, Springfield Expanding Your Required IT Risk 19 Assessment Program Preparing for Your Next IT 12 Starved Rock Lodge, Utica “Regulatory Guidelines & Examinations” –– CBAI West Conference Room, Springfield Lending Under the New CFPB Mortgage Rules What to Keep, What to Destroy, What Holds Up in Court CBAI Education Center, Springfield Deposit Documentation –– 25 3rd Quarter Banking Essentials: 18 Imaged Documents: 11 S CBAI Education Center, Springfield Starved Rock Lodge, Utica –– CBAI Education Center, Springfield N Holiday Inn, Mt. Vernon Compliance, Ownership & Access Issues Credit Risk Management Workshop 11 O Deposit Documentation –– 24 Opening Accounts for Minors: 13 CEO Forum Group IV –– 6 Construction to Permanent 6 I Debt & Foreclosed Examination CBAI Education Center, Springfield CBC Program 2nd Quarterly 5 T The ALLL in Troubled 20 Rules, Best Practices & Examiner Hot Buttons Preparing for Your Next IT 13 Exceptions & Bank Liability C CBSC & CBAI Board Meeting –– 20 CBAI Education Center, Springfield –– Crowne Plaza Hotel, Springfield Tax Refunds: ACH Postings, 4 A Examination CBAI Education –– Hilton Lisle/Naperville New Rules & Best Practices for Minimize Risks Deposit Documentation –– 27 Hilton Lisle/Naperville Key Lending Strategies for 27 Growth & Profitability –– CBAI Education Center, Springfield What Is That Personal Tax 27 Return Telling Me? Part 2: Schedules E & F Welcome New Members New ASSOCIATE MemberS Austin Financial Services New MEMBER FINANCIAL INSTITUTION 1690 Woodlands Drive, Suite #210 Maumee, OH 43537 Craig Bernard, President 419-531-9559 / Fax: 910-256-6109 www.bankguys.com [email protected] Bank Consulting and Investment Banking Services CBRE, Inc. – Appraisal Management Washington Savings Bank, Effingham 311 South Wacker Drive, 4th Floor Chicago, IL 60606 Victoria Pierce, Director 312-233-8677 / Fax: 312-233-8660 www.cbre.com/AppraisalManagement [email protected] David Doedtman, President & CEO R.D. McClain’s Labor Service dba My Tidy Office 31 Danbury Drive Springfield, IL 62704 Daniel McClain, Owner 217-498-3476 www.mytidyoffice.com [email protected] Janitorial Service & Carpet Cleaning Secured Retirement Strategies Group, LLC 500 West Silver Spring Drive, Suite K-200 Glendale, WI 53217 Dennis A. Christiansen, Partner 414-617-4002 / Fax: 414-847-6201 [email protected] Long-Term Care Consulting and Insurance for Officers and Directors AMC – Appraisal Management 36 www.cbai.com + Banknotes Community Bankers Association of Illinois LEGAL LINK Death, Taxes and Attorney’ s Fees Jerry Cavanaugh, CBAI General Counsel, Springfield, IL “I’m not dead yet!” was the protestation from a peasant who was about to be prematurely loaded onto a human-debris wagon in the movie Monty Python and the Holy Grail. That quote and scene came to mind as I read the recent First District (Cook County) Illinois Appellate Court opinion in the case of Estate of Zagaria vs. Samuel Zagaria. Zagaria had a $500,000 stock-brokerage account when his family lost all contact with him in August of 2000. In July of 2009, a court order declared him to be presumed dead and his sister (“Sister”) was appointed to administer his estate. Sister hired two attorneys (“Heroic Lawyers”) to assist in the handling and eventual closing of Zagaria’s estate. During their efforts to collect benefits for the estate on an annuity contract, Heroic Lawyers stumbled across the fact that someone with Zagaria’s name had given his social security number to a homeless shelter not far from the town in which Zagaria last resided. By December of 2009, evidence strongly suggested that Zagaria was, in fact, not dead yet. That evidence was confirmed in June of 2010, when Heroic Lawyers actually met Zagaria for the first time. No doubt the best-represented resident of the homeless shelter, Zagaria had his own attorney (“Miser’s Lawyer”) unwind the probate estate and revoke Sister’s authority over his financial affairs. The balance in his brokerage account, at that time approximately $366,000, was transferred from the estate to a new account opened for Zagaria. Heroic attorneys came calling, politely asking the court if they could please be paid $27,000 in fees for services rendered while Zagaria was presumed dead. They petitioned for $27,000 to be turned over from Zagaria’s new account back to the estate account, because the client of Heroic Lawyers had been the estate and not Zagaria himself. Because Heroic Lawyers were polite and their petition was very neat with no spelling errors and no run-on or fragmented sentences, the court granted their request and Zagaria and Miser’s Lawyer appealed. The Appellate Court affirmed the trial court’s decision in favor of Heroic Lawyers getting paid from the estate, even though it 38 www.cbai.com + meant siphoning money from the new account of the still-alive Zagaria, because the presumption-of-death order was sufficient under Illinois law to warrant the opening of an estate of the presumed decedent, Sister was within her authority in hiring Heroic Lawyers to assist with the estate, and it was uncontested that Heroic Lawyers did, in fact, provide substantial estate administration legal assistance to Sister. Moral of the story: Don’t think for a second that you can avoid paying your attorney(s) by dying. Round Two: Attorneys Get the Short End For those who did not like the outcome of that first story, you might be happier to learn that, in the case of Dixon, Laukitis & Downing, P.C. vs. Busey Bank, a law firm (“Poor, Victimized Lawyers”) that deposited a $350,000 check into its Client Trust account at Bank was unable to recover funds from Bank after writing checks totaling $270,000 against that deposit, only to find out that the fraudulent check was dishonored and Bank charged back the $350,000 against the account of Poor, Victimized Lawyers. Poor, Victimized Lawyers claimed that Bank had been negligent by not observing commercially reasonable standards when Bank allowed the $350,000 fraudulent check to be deposited and that Bank had breached a fiduciary duty of care owed to Poor, Victimized Lawyers. However, the Illinois Third District Appellate Court shafted Poor, Victimized Lawyers by ruling that Bank’s duties owed to Poor, Victimized Lawyers were limited to those found in the Uniform Commercial Code or prescribed in the account agreement, which stated unambiguously that any deposit was provisional until such time as the deposited item had resulted in collected funds. There is no common law fiduciary duty or extraordinary duty of care beyond the account contract and the Uniform Commercial Code that runs from a depository bank to its depositor. n Legal Link is a free CBAI member benefit. For answers to your general, banking-related legal questions, contact Jerry Cavanaugh in the “Members Only” section of the CBAI website, www.cbai.com. Banknotes MEMBER NEWS Robert Scott Snavely has been hired by Midland States Bank, Effingham (MSB) as its market president in its Grant Park location (formerly First National Bank of Grant Park, acquired by MSB). Prior to joining MSB, Snavely was market president for a large regional bank in Carbondale. He has more than 25 years of experience in financial services in Illinois, Indiana, and Kentucky. Snavely received his B.S. degree in business management from the University of Illinois in Springfield and is currently pursuing his MBA. Dennis Eckhardt, president of Port Byron State Bank, accepts a plaque congratulating the bank on its sesquicentennial anniversary from CBSC Vice President of Member Services Lesa Black. Community Trust Bank, Irvington celebrated its 100th Anniversary October 21-25 with giveaways throughout the week, and a luncheon and cash prizes the final day. Darrell A. Richey, financial advisor located at First MidIllinois Bank & Trust, N.A., Effingham, was recently named a member of the 2014 Achievers Club in recognition of his personal accomplishments in 2013. This award recognizes advisors who have achieved exceptional growth. Richey, who joined First Mid in 1993, has more than 25 years of experience in financial services. William S. Rowland, chairman, president, and CEO of First Mid-Illinois Bancshares, Inc. (First Mid), Mattoon, retired effective December 31. Rowland’s retirement brings to a close a career of nearly 25 years of continuous service to First Mid and its stockholders. When he began his career with the company, First Mid employed fewer than 100 people in five communities; today it employs more than 400 people in 25 communities. Joseph R. Dively has become chairman, president, and CEO upon Rowland’s retirement. Dively had served as senior executive vice president of First Mid and president of its subsidiary, First Mid-Illinois Bank & Trust, N.A. Calvin Schultz, commercial loan officer, with First MidIllinois Bank & Trust, N.A., Mattoon recently graduated from the National Commercial Lending School in Dallas, TX. The School, an advanced commercial-lending curriculum for lenders with five or more years of experience in this arena, was held in March at Southern Methodist University. Seth Reedy recently earned the designation of Certified Insurance Counselor (CIC) from the National Alliance for Insurance Education & Research. The Certified Insurance Counselors (CIC) Program has been the insurance industry’s premier, proven source for practical, real-world education since 1969. Reedy earned a B.S. degree in marketing from Eastern Illinois University, Charleston, and began his career with First Mid Insurance Group in 2001 as a commercial production manager, and returned to its sales staff in 2009. First Mid Insurance Group is a subsidiary of First MidIllinois Bank & Trust, N.A., Mattoon. + January 2014 39 Community Bankers Association of Illinois MEMBER NEWS Schuyler State Bank branches in Macomb and Rushville are now part of the Marine Bank, Springfield network serving all of Central Illinois. The merger of the Macomb and Rushville branches has been completed, and the branches re-opened as Marine Bank. Legence Bank, Eldorado has broken ground for its new corporate office in Eldorado. The site is located at the corner of US Highway 45 and Illinois Route 142. First Mid-Illinois Bank & Trust, N.A., Mattoon has teamed with The Mattoon Police Department’s Cops for Kids with an $800 donation toward its annual charity event. Cops for Kids offers at-risk youth the opportunity to shop with an officer and guardian for toys and winter clothes they may not receive during the holiday season. In recognizing the importance of youth development, First Clover Leaf Bank, Edwardsville recently gave a $1,000 charitable gift that it received from Computer Services, Inc. (CSI) to the Lewis & Clark Council of the Boy Scouts of America. The bank selected the Lewis & Clark Council for its commitment to helping youth build character, learn skills, and practice leadership. Nicoud Insurance was named a 2013 Best Practices Agency by the Independent Insurance Agents & Brokers of America. A best practices agency demonstrates a commitment to constantly improving the quality of service provided to its customers. Factors considered for nomination include strong leadership; excellent employees; access to proper suppliers, tools and resources; and organization. Nicoud was the only agency in Springfield, and one of only five Illinois agencies, on this year’s list. Nicoud is a preferred service provider of Community BancService Corporation, Inc. (CBSC). CBSC-preferred service provider Ameren Energy Marketing has become part of the Dynergy Inc. family. As such, its name has been changed to Illinois Power Marketing, d/b/a Homefield Energy. Guardian Analytics has created FraudMAP Connect, a realtime collaboration platform and fraud intelligence community for financial institutions to securely exchange actionable information and improve fraud-prevention practices. By pooling experiences and expertise through FraudMAP Connect, financial institutions are better prepared to defend against sophisticated and continually evolving attacks and fraud schemes. 40 www.cbai.com + Wipfli has expanded its Financial Institutions Practice’s risk advisory regulatory compliance team with the addition of Melissa Blaser and Teri Downey. Blaser joined Wipfli as a senior manager. Her financial-services knowledge has been cultivated through five years of experience in community banks, and more than 15 years in public accounting and consulting. Downey joined Wipfli as a manager. She brings over 15 years of experience in public accounting and consulting to the firm’s clients. Both women hold bachelor’s of science degrees in accounting from Rockford College and a number of compliance certifications. Midwestern Securities Trading Company, LLC (MSTC) has added Jaeson Lister and Stephanie Copeland to its home-office team in East Peoria. Lister is from Pekin and recently graduated from Illinois State University, Normal with a degree in accounting. As a compliance associate at MSTC, he assists the firm’s chief compliance officer and its network of financial advisors. He is in the process of studying for his Series 7 and 66 securities licenses and, upon completion, will be studying for the Series 24. Copeland is a senior at Bradley University, Peoria, where she is earning her degree in business management and administration, with a concentration in human resources. As an intern at MSTC, she is assisting the firm with several projects. Small Business Growth Corporation (Growth Corp), which is located in Springfield, was recognized by the National Association of Development Companies (NADCO) for its regional contribution to veterans with an award for record loan volume and exceptional service to U.S. Veterans and small businesses. Growth Corp, the U.S. Small Business Administration (SBA) and NADCO are helping veterans transition back into civilian life as business owners. Veterans who own a business can take advantage of Growth Corp’s financing assistance through the SBA 504 Loan Program, which is open to all U.S. veterans from every branch of service. Borrowers looking to purchase commercial real estate and/or equipment receive long-term fixed-rate financing, a low down payment (typically 10%) and additional assistance specific to veteran entrepreneurs. Computer Services, Inc. (CSI) has announced its ranking on the 2013 FinTech 100. The annual international listing, published by American Banker, Bank Technology News and research firm IDC Financial Insights, ranks the top hardware, software, and service providers that derive more than one-third of their revenues from the financial community. CSI rose to 56th on the list of financial-technology companies that were judged according to their global revenues. n Banknotes Community Bankers Association of Illinois Foundation for Community Banking CBAI CBAI Foundation Kicks Off “5-for-5” Campaign The CBAI Foundation for Community Banking 2014 Annual Scholarship Program is underway. The Foundation is in its 28th year of offering 26 annual scholarships to deserving high-school students-at-large through the essay contest. THERE IS NO COST TO THE BANK TO PARTICIPATE! CBAI member dues DO NOT fund the scholarships, however. Only through the tax-deductible donations of our members and associate members is the funding made available. Please consider the “5-for-5” Campaign. Allocate just $500 per year for the next five years for the Foundation. It’s 100-percent tax deductible. By doing so, WITH YOUR FIRST CHECK, your bank is eligible to submit names for the two, four-year scholarships offered annually and sponsored by SHAZAM® and BancVue for the children and grandchildren of your bank employees, officers, and directors. Additionally, your bank will be entered into a two-year scholarship to the Community Bankers School sponsored by THE BAKER GROUP, the Career Development Division of CBAI, and the Federal Home Loan Bank of Chicago. In Recent Donations • State Street Bank & Trust, Quincy has made an additional donation which moves it to the Silver level of giving. • West Central Bank, Ashland and State Bank of Davis have become new, Bronze-level donors of the Foundation. • Durand State Bank has made an additional payment toward its Bronze-level commitment. • Preston Smith was a winner of $500 from Bank Consulting Group at the CBAI Annual Convention & Exhibition; he donated his winnings to the CBAI Foundation. • Board members of the CBAI corporate family donated travel expenses for recent meetings as follows: Jim Ashworth, CNB Bank & Trust, N.A., Carlinville; Jeff Bonnett, Havana National Bank; Kevin Beckemeyer, Legence Bank, Eldorado; Will Coolley, Longview Capital Corporation, Newman; Larry Franklin, CNB Bank & Trust, N.A., Carlinville; Todd Grayson, South Central Bank, N.A., Chicago; David Loundy, Devon Bank, Chicago; Cindy Martin, Lena State Bank; Eric McRae, First Mid-Illinois Bank & Trust, N.A., Mattoon (Decatur); Doug Parrott, State Bank of Toulon; Paul Pogue, North Adams State Bank, Ursa; Gregg Roegge, Rushville State Bank; Jeff Rolczynski, American Midwest Bank, Sycamore; Mary Sulser, Buena Vista National Bank, Chester; and Bill Wubben, Apple River State Bank. Memoriam Barton S. Burch, 96, passed away November 5, 2013. He was born January 31, 1917, in Rockford to Willard and Georgie (Somers) Burch. Barton married Helen G. Jones on February 4, 1939. He was a farmer his entire life, farming for 64 years on the same farm in the Lindenwood area. He also was a co-owner of Burch and Carmichael Trucking in Rochelle. Burch was preceded in death by his first wife, Helen, in 1975, and his brother, John in 2003. He served on the Holcomb State Bank board of directors for 62 years, including more than 30 years as its chairman. At the time of his death, he was honorary chairman. Barton is survived by his wife, Edna; two sons, Ken (Lynn) of Lindenwood and Ben (Pat) of Rochelle; four grandchildren, and four great-grandchildren. Banknotes + January 2014 41 Community Bankers Association of Illinois I N D E X OF A D V E RT I S E R S The Baker Group . . . . . . . . . . 25 Homefield Energy . . . . . . . . . . . . 39 SHAZAM ®, Inc. . . . . . . . . . . . . . . 19 BancVue . . . . . . . . . . . . . . . . . . 43 IBT ® . . . . . . . . . . . . . . . . . . . . . 10 Southwest Financial Services, Ltd. . . . . . . . . . . . . . . . 30 BankOnIT USA . . . . . . . . . . . . . . 26 LKCS . . . . . . . . . . . . . . . . . . . . 14 Systemax/FUSE . . . . . . . . . . . . . 13 . . . . . . . . . . . . . . . . . . 05 McGladrey . . . . . . . . . . . . . . . . . 34 Cardinal Software . . . . . . . . . . . . 14 Mortgage Services III, LLC . . . . . . 23 Community BancInsurance Services . . . . . . . 18 PG Architecture . . . . . . . . . . . . . 33 BKD llp . Triad Financial Services . . . . . . . . 14 Welch Systems Incorporated . . . . 44 Wipfli LLP . . . . . . . . . . . . . . . . . 28 Plante Moran . . . . . . . . . . . . . . . 07 Continuity Control . . . . . . . . . . . . 03 Young & Associates, Inc. . . . . . . 02 Quad City Bank & Trust . . . . . . . . 21 CSI . . . . . . . . . . . . . . . . . . . . . . 09 The Redmond Company . . . . . . . 22 Diebold . . . . . . . . . . . . . . . . . . . 16 42 www.cbai.com + Banknotes Banknotes Community Bankers Association of Illinois 901 Community Drive Springfield, IL 62703-5184
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