bankers` bank of the west bancorp, inc.

2013
Annual Report
INDEX
PRESIDENT’S MESSAGE ....................................................................................................... 1
EXECUTIVE OFFICERS ......................................................................................................... 3
CONSOLIDATED BALANCE SHEETS ................................................................................... 4
CONSOLIDATED STATEMENTS OF INCOME ..................................................................... 5
ASSETS UNDER MANAGEMENT & TRANSACTION VOLUME .......................................... 6
CHARTS AND GRAPHS ......................................................................................................... 7
OPERATIONAL SERVICES .................................................................................................. 10
BANK CARD SERVICES ....................................................................................................... 11
LOANS AND MUNICIPAL LEASING SERVICES ................................................................ 12
BOARD OF DIRECTORS, MISSION STATEMENT, CORE VALUES STATEMENT ..... back cover
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LETTER FROM THE PRESIDENT
To our shareholders, customers, partners, and friends:
I’m pleased to report that Bankers’ Bank of the West Bancorp, Inc. (“Company”) and
its subsidiaries, Bankers’ Bank of the West (“BBW” or “Bank”) and Western States
Holding, Inc. (“WSH”) followed a solid performance in 2012 with quality results in
2013. Asset quality and capital ratios improved year-over-year, and earnings were
strong.
BBW reported earnings of $4,361,000 in 2013, resulting in a return on average
assets of 1.3%, versus earnings of $5,327,000, or a return on average assets of
1.4%, in 2012. A reversal of loan loss reserves affected earnings for both years, in
the amount of $1,000,000 in 2013, and $1,232,000 in 2012. In addition, the Bank
received a tax benefit of $310,000 and $727,000 in 2013 and 2012, respectively. The
probability of repeating a loan loss reversal and recognizing a tax benefit is low, and
in fact the Bank expects to accrue for income taxes beginning in 2014; however, the
core earnings of BBW are expected to remain solid.
The Company reported earnings of $4,413,000 in 2013, following earnings of
$5,259,000 in 2012. WSH liquidated the final pieces of owned real estate having
resolved $16,836,000 in troubled assets since its inception as a nonbank subsidiary
of the Company in December 2008. With the sale of the last troubled asset, WSH
reported earnings of $75,000 for the year.
Capital levels at BBW continued to be strong in 2013 marking increases in each
category. The Total Risk-Based Capital Ratio ended the year at 21.5% compared to
the 2012 level of 19.7%. The Tier 1 Leverage Capital Ratio increased to 11.7% from
9.3% year-over-year.
As noted earlier, the allowance for loan losses included a reverse provision for the
second consecutive year. The aggressive approach to recognizing losses from 2008
through 2011 positioned the Bank to resolve asset issues, leading to a relatively quick
BILL MITCHELL
President and CEO
healing process. Despite the reverse provision, the Bank maintained a strong loan
loss reserve as of year-end at 3.5% of total loans.
CRE concentration levels at Bankers’ Bank of the West are no longer an issue, as the
Bank continues to maintain concentration levels well below the regulatory guidelines
of 100% for CRE I and 300% for CRE II. As of December 31, 2013, BBW’s CRE I
and II levels were 43.5% and 137.2%, respectively.
BBW asset quality ended 2013 at levels not witnessed since before the Great
Recession. At the end of 2013, nonperforming loans were only $374,000, or
0.2% of total loans, a 92% drop from December 31, 2012. For reference purposes,
nonperforming loans were $26,369,000, or 12.8% of total loans, as of
December 31, 2010. The BBW team liquidated troubled assets at a consistent and
sustained rate while taking care to protect shareholder value. Owned real estate also
was significantly reduced, ending the year at $2,226,000, a 52% drop during the
BANKERS’ BANK OF THE WEST BANCORP, INC.
1
year. Classified loan levels improved during 2013, declining by 49% during the
year. Classified assets ended the year at 24.4% of Tier 1 Capital and ALLL, having
reached 144% at one point during the recession. Finally, BBW’s Texas Ratio was
5.7% as of December 31, 2013, having dropped from 28% the prior year, and from
85% at the high point in the recession.
The sustained improvement in asset quality, in combination with the conservative
approach BBW employs concerning liquidity, is allowing us to truly focus on
strategic objectives. As defined in the 2013-2015 strategic plan, BBW is pursuing
market share growth. Of course, ensuring that current customer banks are familiar
with the full array of products BBW has to offer is equally important to the
objective of assisting customers in meeting their own objectives.
Per the strategic plan, our goal for 2013 was to increase market share in our core
market area from 50% to 55%. We achieved that objective. For 2014, the Bank’s
target is a 60% market share by year-end. Many of our officers have community
bank backgrounds, and they approach market share from a reverse perspective,
reasoning that if we are serving 55% of the banks in our market, that means 45%
of the banks in the market are not benefiting from our assistance in meeting their
goals. The fact that three senior executive officers at BBW have been presidents
of community banks signifies the Bank’s commitment to sustaining a vibrant
community banking industry. We fully intend to do everything in our power to
I appreciate working
with the knowledgeable
folks at Bankers’ Bank
of the West. Not only do
they understand critical
parts of our business,
but we’ve been able
ensure the continued strength and excellence of community banks.
to collaboratively come
Certainly Bankers’ Bank of the West had to address some real challenges during
up with solutions to
the last economic downturn. I’m proud of the way the team resolved these
problems—head-on and with open communication with all stakeholders at
every stage. We never dodged the issues, instead providing full disclosure of our
processes and plans. And because of the way we worked through the difficulties,
complex issues to help
our customers.
Bankers’ Bank of the West has emerged resilient and financially strong.
In addition to growing market share and maintaining the strong financial position
of BBW, we have another objective for 2014: We want to position the Company to
resume paying dividends to common shareholders. It is a major objective for this
year, albeit one that hinges on a solution to the Treasury Department’s ownership
Glen Jammaron
Vice Chairman and President
Alpine Bank
Glenwood Springs, Colorado
of preferred shares in the Company. We continue to work on solutions that replace
the Treasury’s preferred stock ownership position with the goal of enabling the
Company to once again reward its common shareholders.
Bankers’ Bank of the West is the second-oldest bankers’ bank in the country, now
in its 34th year of service to community banking. Your bankers’ bank is resilient
and well-positioned to work for you, as your partner and advocate, for the next
34 years.
Thank you for the opportunity to serve you.
William A. Mitchell Jr.
President and Chief Executive Officer
2
vision
BANKERS’ BANK OF THE WEST BANCORP, INC.
BILL MITCHELL
ALICE VOSS
DALLAS KIBURZ
President and
Chief Executive Officer
EVP and
Chief Financial Officer
EVP and
Chief Credit Officer
Joined BBW in 2007. 29 years
in banking, nine as an executive
of a Colorado community bank.
Board member, Independent
Bankers of Colorado. Past board
member and chair, Colorado
State Banking Board. Bachelor’s
and master’s degrees from
the Universities of Texas and
Colorado, respectively.
Joined BBW in 2009. 40 years
in community banking including
bank president, COO and
CFO. Board member, Bankers
Foundation of Colorado. Member
of American Bankers Association
Correspondent Bank Working
Group. Graduate School of
Banking at Colorado.
39 years in banking. Joined BBW
in 2000 and opened the Nebraska
sales office. Served previously
as president of two community
banks. Bachelor’s degree from
University of Nebraska.
PAUL HARRISON
MARY ANN
ELLIOTT-SUPPLES
JEFF BENSON
Senior Vice President —
Credit Administration
Senior Vice President —
Bank Card Division
Senior Vice President —
Correspondent Services
Over 25 years’ experience in
banking in various lending roles.
Joined BBW in 2009; focused
on credit administration, special
assets, and loan underwriting.
Bachelor’s degree from University
of Northern Colorado.
Joined BBW in 1998 as head of
the BBW Bank Card Division.
40-year background in banking —
34 specific to electronic banking.
Past president of MINIBANK
network.
Joined BBW in 2001; focused on
lending, product development
and marketing strategy.
Bachelor’s degree from Montana
State University. Graduate School
of Banking at Colorado.
BANKERS’ BANK OF THE WEST BANCORP, INC.
3
Bankers’ Bank of the West Bancorp, Inc. and Subsidiaries
CONSOLIDATED BALANCE SHEETS
December 31,
2013
2012
(in thousands)
Assets
Cash and due from banks
$
10,368
$
11,301
Interest-bearing deposits
39,450
86,452
Federal funds sold
45,670
29,072
95,488
126,825
Securities available for sale
50,750
64,558
Securities held to maturity
2,259
3,205
884
515
155,518
160,408
5,381
5,879
150,137
154,529
Leasehold improvements and equipment, net
101
135
Accrued interest receivable
992
809
Company owned life insurance
8,522
8,286
Other real estate owned, net
2,226
4,858
Other assets
5,609
5,285
Cash and cash equivalents
Nonmarketable equity securities
Loans
Less allowance for loan losses
Total assets
$
316,968
$
369,005
$
136,486
$
182,984
Liabilities and Stockholders’ Equity
Liabilities
Deposits
Noninterest-bearing
Interest-bearing
123,929
137,577
Total deposits
260,415
320,561
42
41
13,910
9,358
274,367
329,960
13,260
13,134
2,175
2,175
Capital surplus
14,152
14,152
Retained earnings
13,045
9,448
Accrued interest payable
Other liabilities
Total liabilities
Stockholders’ equity
Preferred stock - $20 par value, 5% cumulative 250,000 shares authorized,
13,271 shares issued and outstanding aggregate liquidation preference
$1,000 per share
Common stock - $10 par value, 750,000 shares authorized, 217,525 shares
issued and outstanding
(31)
Accumulated other comprehensive (loss) income
Total stockholders’ equity
Total Liabilities and Stockholders’ Equity
4
BANKERS’ BANK OF THE WEST BANCORP, INC.
136
42,601
$
316,968
39,045
$
369,005
Bankers’ Bank of the West Bancorp, Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF INCOME
Years ended December 31,
2013
2012
(in thousands)
Interest income
$
Interest and fees on loans
7,430
$
7,660
584
705
19
29
363
355
8,396
8,749
804
952
-
30
804
982
7,592
7,767
(1,000)
(1,232)
8,592
8,999
Service charges on deposit accounts
1,249
1,187
Commissions and fees
8,797
8,409
10,046
9,596
4,914
4,643
Occupancy expense of premises
619
618
Furniture and equipment expense
244
212
1,133
1,174
512
322
7,113
7,094
Total noninterest expenses
14,535
14,063
Income before income taxes
4,103
4,532
Interest on taxable investment securities
Interest on tax-exempt investment securities
Interest on deposits and federal funds sold
Total interest income
Interest expense
Deposits
Federal funds purchased and other borrowings
Total interest expense
Net interest income
Credit for loan and lease losses
Net interest income after credit for loan and lease losses
Noninterest income
Total noninterest income
Noninterest expenses
Salaries and employee benefits
Service charges
Net losses and writedowns of other real estate owned
Other expenses
(310)
Income tax beneit
NET INCOME
$
4,413
(727)
$
5,259
BANKERS’ BANK OF THE WEST BANCORP, INC.
5
stability
financials
Del Norte Bank could not have had our metamorphosis
without Bankers’ Bank of the West. In 1999, when we
decided to modernize a sleepy little savings and loan, we
needed the support and expertise of a powerful partner to
make it happen. We found it in BBW and we continue to
rely on their expertise and support in many ways. From
payment systems and settlement services to participated
loans, we love our bankers’ bank!
Michael Hurst
President
Del Norte Bank
Del Norte, Colorado
ASSETS UNDER MANAGEMENT & TRANSACTION
VOLUME - BANKERS’ BANK OF THE WEST
December 31,
2013
2012
Assets under management
Total assets of Bankers’ Bank of the West
Outstanding balance of loan participations sold
Safekeeping (par value)
Agent federal funds (YTD daily average)
Total assets under management
$
316,713,000
$
368,545,000
29,108,000
32,692,000
4,725,885,000
4,456,714,000
477,226,000
503,601,000
$ 5,548,932,000
$ 5,361,552,000
YTD transactional volume
Domestic and international wires sent and received
Principal federal funds sold
Direct partner merchant volume
ATM/debit network — transactions processed
6
BANKERS’ BANK OF THE WEST BANCORP, INC.
$481.3 billion
$503.7
billion
$7.1 billion
$3.9 billion
$201.8 billion
$199.6 billion
22.1 million
21.8 million
BANKERS’ BANK OF THE WEST BANCORP, INC.
BOOK VALUE (PER COMMON SHARE)
$150.00
$134.89
Book Value per Common Share
$119.94
$125.00
$100.00
The book value has been increasing
with the return to profitability
following sustained recovery from
the impact of the Great Recession.
$119.12
$101.74
$104.81
Dec-10
Dec-11
$75.00
$50.00
Dec-09
Dec-12
Dec-13
BANKERS’ BANK OF THE WEST
ASSET MIX
Dollars in Thousands
$500,000
Net Loans & Leases
Securities
Cash & Balances Due
Federal Funds Sold
Other Real Estate Owned
All Other Assets
$400,000
$300,000
The Bank has solidified its financial
position by reducing the size of
the balance sheet, reducing loan
concentrations, and diversifying the
mix of assets.
$200,000
$100,000
$0
Dec-09
Dec-10
Dec-11
Dec-12
Dec-13
ASSETS UNDER MANAGEMENT
$6,000,000
Total Assets
Safekeeping
Agent Federal Funds (Daily)
Loan Participations Sold
Dollars in Thousands
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0
Dec-09
Dec-10
Dec-11
Dec-12
While a decline in outstanding loans
caused shrinkage in the Bank’s
balance sheet, gains were made in
services used by community banks.
The Bank recorded significant growth
in assets held in its Safekeeping
Department, while maintaining sales
of loan participations and the sale of
federal funds in the role of agent.
Dec-13
BANKERS’ BANK OF THE WEST BANCORP, INC.
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BANKERS’ BANK OF THE WEST
LOAN MIX
$400,000
Real Estate
Dollars in thousands
$350,000
Commercial
Agriculture
Bank Stock & Other Loans
The loan portfolio has reduced
concentrations in commercial real
estate and bank stock loans, while
simultaneously improving asset
quality.
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Dec-09
Dec-10
Dec-11
Dec-12
Dec-13
DEPOSIT MIX
$400,000
$400,000
Demand Deposits
Time Deposits <$100M
Time Deposits >$100M
Time Deposits Brokered
Dollars in Thousands
Thousands
$350,000
$350,000
$300,000
$300,000
The Bank has diversified its funding
sources by expanding the use of time
deposits while reducing its reliance on
brokered funds.
$250,000
$250,000
$200,000
$200,000
$150,000
$150,000
$100,000
$100,000
$50,000
$50,000
$0
$0
Dec-09
Dec-09
Dec-10
Dec-10
Dec-11
Dec-11
Dec-12
Dec-13
CAPITAL RATIOS
25.00%
20.00%
Total Risk Based Capital
Tier 1 Risk Based Capital
Tier 1 Leverage Capital
19.67%
17.93%
14.85%
15.00%
10.25%
16.64%
20.19%
18.39%
13.54%
11.67%
10.00%
8.92%
5.00%
0.00%
8
21.46%
7.40%
8.67%
9.28%
5.45%
Dec-09
Dec-10
Dec-11
Dec-12
BANKERS’ BANK OF THE WEST BANCORP, INC.
Dec-13
By actively addressing asset quality,
the Bank was able to maintain capital,
reduce asset size, and diversify the
remaining assets, in turn improving
the capital ratios.
NONPERFORMING LOANS
AND LOAN LOSS RESERVE
$300,000
Total Loans
Non-Performing Loans
Loan Loss Reserve
Dollars in Thousands
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Dec-09
Dec-10
Dec-11
Dec-12
Dec-13
The loan portfolio has reduced concentrations in commercial real estate and
bank stock loans, while simultaneously improving asset quality.
Banks with deposit accounts
by asset size
Wyoming
With a 55% market
Arizona
share in its seven-state
Washington
Utah
South Dakota
ALICE VOSS
core market area,
Colorado
New Mexico
the Bank intends to
further penetrate
those core states and
also target additional
Nebraska
My back-office people have a
lot of contact with the BBW
staff, and you have some of
the friendliest people working
for you. Your wire transfer
specialists are awesome—
really conscientious.
The same goes for your
operations area. We have a
great rapport with the people
who support us at BBW.
Idaho
Montana
strategically defined
areas.
Banks with deposit accounts
by state
> $1 billion
$500 million
to> $1 billion
$500 million
to
(7) (7)
$1 billion
$1 billion
(16) (16)
$250 million
to
$250million
to
$500million
$500 million
(35)
(35)
< $100
million
< $100
million
(72)(72)
The 217 banks with
BBW deposit accounts
range in size of total
assets from less than
$10 million to nearly
Robin Wallingford
VP and Operations Manager
Jonah Bank of Wyoming
Casper, Wyoming
$8 billion.
$100 million
to
$100 million
to
$250 million
$250 million
(87) (87)
BANKERS’ BANK OF THE WEST BANCORP, INC.
9
serv
OPERATIONAL SERVICES
With the goal of saving customer banks time,
Certificates of Deposit. U.S. community
generating high yields, and delivering timely
financial institutions can invest in our FDIC-
account information at the lowest possible cost,
insured certificate of deposit.
Bankers’ Bank of the West offers a variety of
cash management products and services—all
Cash Management. Community banks can
supported by our knowledgeable and service-
obtain image cash letter processing and Check
minded operations team.
21 services, participate in OnWe® exchange, and
enroll in an optional fed funds sweep.
BIDS. The secure, easy-to-use web-based
delivery system known as Bankers Internet Data
Settlement Services. Bankers’ Bank of the
System (BIDS) eliminates the need for specialized
West can receive a client bank’s FRB settlement of
software, dial-up lines and modems, and enables
debits and credits to settle at its Bankers’ Bank of
simultaneous access by multiple users within a
the West account.
customer bank. A multilayer security solution
incorporates biometric technology as well as other
Safekeeping. Trade clearance and custody
authentication controls in keeping with standards
services are delivered with professionalism and
established by the FFIEC.
above-and-beyond customer service. Payment
detail receipts and monthly reports appear on
Federal Funds. Bankers’ Bank of the West
BIDS.
handles federal funds transactions as both
“principal” and “agent,” providing both shortterm investments of excess funds and the capacity
to borrow on a daily basis. Interest is paid daily.
Wires. Bankers’ Bank of the West facilitates
international and domestic wires. Trained
specialists are available to assist banks by
performing research on wires sent or confirming
details (e.g. SWIFT and ABBAs) provided by your
customers.
International Services. Bankers’ Bank of the
West provides essential international services at
competitive prices.
International capabilities include wire transfers,
check and currency deposits, check collections,
currency, drafts, and letters of credit.
10
BANKERS’ BANK OF THE WEST BANCORP, INC.
Bankers’ Bank of the West has been our
correspondent bank for the past 10+ years
and has been there for us in so many ways
as our bank has grown over the past decade.
We use so many of BBW’s services, ranging
from our incoming and outgoing imaged
cash letters, ACH files and wires to our
securities safekeeping, nightly borrowing
and excess balance account sweeps. They are
always very professional, timely and eager
to answer any questions we might have. . . .
With all the advancements in technology, it
is hard to imagine where Town & Country
Bank would be today without BBW.
John Phillips
Cashier
Town & Country Bank
Ravenna, Nebraska
vice
Mary Ann Elliott-Supples and
the Bank Card Operations
department provide great
customer service. They always
provide swift responses
to questions and requests.
. . . Their service helps us
provide better service to our
customers.
Donna Johnson
CFO and SVP
Pine River Valley Bank
Bayfield, Colorado
BANK CARD SERVICES
Bankers’ Bank of the West provides high-quality bank card
programs at prices negotiated for our client pool, making us
competitive on price as well as service and expertise.
ATM and Debit Card Processing. Bankers’ Bank of the
West makes available the issuance of ATM access cards, debit
and business debit cards, and Health Savings Account cards.
Each community bank can customize its offerings by choosing
from a full menu of products and services.
Merchant Services. Bankers’ Bank of the West’s program,
which is risk-free to the customer bank, allows community
banks to offer a competitive merchant program without
devoting day-to-day resources to back-office support. The
community bank generates monthly revenue based on
merchant processed transactions.
Credit Cards. There are two programs to choose from:
• The risk-free program, which can generate income
for the community bank in the form of account
referral fees and sales residual on credit card
purchases.
• The community bank-controlled program, which
enables the community bank to earn revenue while
retaining control of pricing and approval decisions.
Prepaid Cards. Often used by community banks to expand
product selection, prepaid cards can help serve a broader
spectrum of customers. Bankers’ Bank of the West’s prepaid
products include gift cards, reloadable cards, travel cards, and
youth cards.
MARY ANN ELLIOTT-SUPPLES
BANKERS’ BANK OF THE WEST BANCORP, INC.
11
LOANS AND
MUNICIPAL LEASING
The correspondent lending division of Bankers’
Bank of the West functions as a flexible
extension of the community bank’s loan
department, empowering banks of any size to
obtain and keep quality loans.
Chartered as a noncompeting correspondent,
Bankers’ Bank of the West never solicits loan
business directly from commercial or retail
customers. Each loan request receives prompt,
thorough attention from Bankers’ Bank of the
West’s knowledgeable, responsive lenders and
support staff.
PAUL HARRISON
DALLAS KIBURZ
Following is a partial list of services:
• Loan participations—overline, share-therisk, and concentration management.
• Agricultural loans—operating, equipment,
and real estate loans.
• Commercial loans; real estate loans;
operating lines of credit.
• Direct loans; bank building financing;
Bankers’ Bank of the West was there when we
needed them, and they’ve stayed with us ever
since. This is no fair-weather relationship—it’s
loyalty, and it’s rare. Main Bank is a big BBW
supporter because they’ve been a real partner
for us.
Ronald Shettlesworth
President and CEO
Main Bank
Albuquerque, New Mexico
bank stock loans.
• Credit to banks, bankers, bank directors,
and bank holding companies.
• Federal funds lines of credit.
• A municipal leasing program that helps
community banks serve high-profile clients
such as school districts, fire districts,
townships, and other municipal entities.
12
BANKERS’ BANK OF THE WEST BANCORP, INC.
RSNB Bank relies on Bankers’ Bank of the
West for a good many services we use—from
loan participations to cash letter, wires, fed
funds, international services, safekeeping,
and merchant processing. We’re also longtime
shareholders. Everything BBW has done
for us over our 20-year relationship, they’ve
done very well.
John Hay III
President
RSNB Bank
Rock Springs, Wyoming
BOARD OF DIRECTORS
Richard J. Fulkerson
Chairman of the Board
Consultant
Betzer Call Lausten & Schwartz, LLP
Denver, Colorado
Chad S. Adams
President
Adams Bank & Trust
Ogallala, Nebraska
Mike C. Daly
Chairman - Division Board
First State Bank, a division of Glacier Bank
Wheatland, Wyoming
R. William Isham
Chairman and President
The First National Bank of Gordon
Gordon, Nebraska
Larry W. Martin
Chairman
Bank Strategies, LLC
Denver, Colorado
Byron E. Maynes
President
First National Bank
Cortez, Colorado
William A. Mitchell Jr.
President and CEO
Bankers’ Bank of the West
Denver, Colorado
Roger R. Reiling
Vice Chairman of the Board
Retired CEO
Bankers’ Bank of the West
Denver, Colorado
Dennis Schardt
Chairman
Exchange Bank
Gibbon, Nebraska
Kent C. Shurtleff
President
Wyoming Community Bank
Riverton, Wyoming
Dawn M. Thompson
Executive Vice President and Chief Credit Officer
Steele Street Bank & Trust
Denver, Colorado
Alan D. “Pete” Wilson
Chairman and President
Wray State Bank
Wray, Colorado
BANKERS’ BANK OF THE WEST
M I S S I O N S TAT E M E N T
As a partner to community banks in our service
area, we support our clients with outstanding
service and effective solutions, ensure long-term
value for shareholders, and foster the well-being
of our employees.
C O R E VA L U E S S TAT E M E N T
We value our client banks. We measure our
success by the satisfaction of our customers
and the benefits we deliver to shareholders. We
maintain the strength, safety and soundness of
our organization, thereby assuring our ability to
help community banks thrive. We advocate for
our clients through industry involvement and
leadership.
We value one another. We treat our colleagues
with respect, appreciation and courtesy. We
are open and accountable. We work as a team
knowing we are also individually responsible for
making a positive difference for our clients.
We value honesty, integrity and excellence in
all aspects of our performance.
BANKERS’ BANK OF THE WEST STAFF
Administration
William A. (Bill) Mitchell Jr., President & CEO
Alice M. Voss, Executive Vice President & CFO
Christopher Hill, Vice President — Finance
Darci Zuber, Vice President — Human Resources
Jacqueline Tall, Communication Officer
Jennifer Svitak, Executive Assistant
Bank Card & Electronic Support Services
Mary Ann Elliott-Supples, Senior Vice President — Bank Card
Jack Hitt, Vice President — Bank Card
Lynette Gregg, Assistant Vice President — Bank Card
David Philippi, Bank Card Project Coordinator
Carolyn Overall, Bank Card Operations Supervisor
Brenda DiNardo, Bank Card Operations Specialist
Susan Gonzales, Bank Card Operations Specialist
Kate Holloway, Bank Card Operations Specialist
Wire Transfer & Fed Funds
Rosemary Fuentes-Malone, Vice President — Wire Transfer/Fed Funds
Eileen Ortega, Wire Transfer/Fed Funds Specialist
Karen Pinkney, Wire Transfer/Fed Funds Specialist
Leilani Sankey, Wire Transfer/Fed Funds Specialist
Information Systems
Ken Shoemaker, Chief Information Officer
Sean Moore, Programmer
Andrew Prosnik-Benigsen, IT Administrator
Steve Sherman, Senior IT Support Specialist
Greg Miller, IT Support Specialist
Loans
Dallas Kiburz, Executive Vice President & CCO
Paul Harrison, Senior Vice President — Credit Administration
Jeff Benson, Senior Vice President — Correspondent Services
Steve Hogan, Vice President — Correspondent Services
Tara Rosenbaum, Vice President — Correspondent Services
Scott Wintenburg, Vice President — Correspondent Services
Reena Shakya, Credit Analyst
Greg Stanek, Credit Analyst
Karen Milano, Loan Administration Supervisor
Joann Brewster, Loan Administration Specialist
Darlene LaMora, Loan Administration Specialist
Operations
Patty Pinson, Vice President — Operations Calling Officer
Mary Brown, Assistant Vice President — Operations Calling Officer
Debbie Wendt, Vice President — Operations
Pilar Balatbat, International Services Specialist
Stephanie Balltrip, Customer Service Specialist
Sandy Hess, Customer Service Specialist
Christine Lash, Customer Service Specialist
Mary Naslund, Customer Service Specialist
Safekeeping
Sandy Gerk, Assistant Vice President — Safekeeping
Lincoln, Nebraska Office
Dallas Kiburz, Executive Vice President & CCO
Lee Anderbery, Vice President — Correspondent Services
Dan Morrow, Assistant Vice President — Correspondent Services
Mary Sue Drees, Office & Loan Coordinator
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3/25/2014 3:18:36 PM
1099 Eighteenth Street, Suite 2700
Denver, Colorado 80202
303-291-3700 • 800-873-4722 • fax 303-291-3714
411 South Thirteenth Street, Suite 100
Lincoln, Nebraska 68508
402-476-0400 • 888-467-5544 • fax 402-476-4533
www.bbwest.com
MEMBER FDIC