October 2013 - Pentegra Retirement Services

Transcription

The financial crisis five years later
TEXAS
BANKING
One Industry. One Vision. One Voice.
32
V O LU M E 1 0 2 • N O. 1 0 • O C T O B E R 2 0 1 3
Texas Banking is the official
publication of the Texas
Bankers Association.
F E AT U R E S
8
Today’s evolving cyber
crime
EDITORIAL OFFICES:
203 West 10th Street, Austin,
Texas 78701-2388
512-472-8388
fax 512-473-2560
www.texasbankers.com
Three-pronged approach
helps banks prevent
corporate account takeover
12 How to hire a bank
attorney
12 tips for finding,
interviewing and selecting
the best candidate
Olivia Carmichael Solis
Editor
14 Lessons in leadership
14
Bankers learn from giving
back to their communities
COLUMNS
32 Community Banker
Spotlight
Officiating the industry
EXECUTIVE COMMITTEE
5
Message from the
President
October is National Cyber
Security Awareness Month
6
Chairman’s Forum
Immigration and
demographics
34 Banker to Banker
Austin hosts a RIOT
36 Your Advocate
The financial crisis five
years later
38 Compliance Hotline
Complying with the new
remittance rule
Ignacio Urrabazo Jr.
Chairman
Katherine Kolstedt
Art Director
Jocelyn Carby
Associate Editor
Sarah Van Ert
Assistant Editor
Jamie Tanner
Assistant Editor
ADVERTISING OFFICES:
BankNews Media
P.O. Box 29156, Shawnee
Mission, Kansas 66201-9156
800-336-1120
fax 913-261-7010
www.banknews.com
John L. Snider
Vice Chair
Scott Englert
National Sales Manager
8
Kenneth L. Burgess Jr.
Treasurer
D E PA R T M E N T S
18 News & Trends
30 Partner Focus
40 Bank People
12
41 Classifieds
41 Ad Index
42 Banking Bytes
Get the latest
Texas & Washington
news at the
TBA website,
www.texasbankers.com.
4
Expressed opinions in any signed article of Texas Banking are those of the author and
do not necessarily reflect the viewpoint of editors or the Texas Bankers Association on
the subject. While this magazine makes reasonable efforts to establish the integrity of
advertisers, it does not endorse advertised products or services unless specifically so
stated. Texas Banking © 2013, Texas Bankers Association. Articles may not be reproduced or reprinted without the expressed written permission of the Texas Bankers
Association.
Texas Banking (ISSN 0885-6907) is published monthly by the Texas Bankers Association, 203
W. 10th St., Austin TX 78701-2388. Periodicals Postage Paid at Austin, TX and at additional
mailing offices. POSTMASTER: Send address changes to Texas Banking, Texas Bankers
Association, 203 W. 10th St., Austin TX 78701-2388. Annual dues of TBA members include
$20 for each one-year subscription to Texas Banking. Annual rates for additional subscriptions
are $48 for member banks and $96 for non-members.
TEXAS BANKING • OCTOBER 2013
Mike Mauldin
Immediate Past Chair
Matt Reynolds
Community Bankers Council Chair
Suzanne Ramos
Regional Bankers Council Chair
Gary W. Claxton
Government Relations Council
Chair
J. Eric T. Sandberg Jr.
TBA President/CEO
TEXAS BANKERS ASSOCIATION
Board of Directors
Kenneth L. Burgess, Jr.
FirstCapital Bank of Texas, N.A., Midland
[email protected]
Charlotte M. Rasche
Prosperity Bank, Sugar Land
[email protected]
Danny B. Butler
Jefferson Bank, San Antonio
[email protected]
Mark S. Reiley
Icon Bank of Texas, N.A., Houston
[email protected]
Ronald D. Butler, II
First Financial Bank, N.A., Abilene
[email protected]
Matt Reynolds
First Financial Bank, N.A., Cleburne
[email protected]
Cindy Campbell
First National Bank, Southlake
[email protected]
J. Mark Riebe
Texas Bank Financial, Weatherford
[email protected]
George P. Chaggaris
RiverBend Bank, Fort Worth
[email protected]
Scott Rogers
Alliance Bank Central Texas, Waco
[email protected]
Gary W. Claxton
Panola National Bank, Carthage
[email protected]
Roberto A. Salinas
Citizens State Bank, Roma
[email protected]
Timothy J. Cooper
First State Bank, Spearman
[email protected]
J. Eric T. Sandberg, Jr.
Texas Bankers Association, Austin
[email protected]
Wade C. Donnell
The National Bank of Texas at Fort Worth
[email protected]
Jerry L. Schaffner
PlainsCapital Bank, Dallas
[email protected]
James D. Dreibelbis
Woodforest National Bank, The
Woodlands
[email protected]
Robert Sebaugh
First State Bank, Livingston
[email protected]
Robert W. Hoxworth
First National Bank Texas, Killeen
[email protected]
John L. Snider
Shelby Savings Bank, SSB, Center
[email protected]
Jay W. Isaacs
FirstCapital Bank of Texas, N.A., Midland
[email protected]
Kay St. John
Branch Banking and Trust Company,
Dallas
[email protected]
Joe Jackson
Community Bank of Snyder
[email protected]
James D. Stein
Bank of Houston
[email protected]
Rodney G. Kroll
Texas First State Bank, Waco
[email protected]
J. Ronnie Sullins
The First National Bank of Evant,
Gatesville
[email protected]
Mark Lowery
Texas State Bank, Lufkin
[email protected]
Mike Mauldin
First Financial Bank, N.A., Hereford
[email protected]
Eleanor Millwood Wright
Citibank, N.A., Dallas
[email protected]
Pamela K. Parish, CFP
Broadway Bank, San Antonio
[email protected]
Suzanne Ramos
Wells Fargo Bank, N.A., El Paso
[email protected]
Joseph M. Rankin, III
Sage Capital Bank, N.A., Gonzales
[email protected]
Gary B. Taylor
Lindale State Bank
[email protected]
William (Bill) Helms
BBVA Compass Bancshares, Inc.,
Houston
[email protected]
Ignacio Urrabazo, Jr.
Commerce Bank, Laredo
[email protected]
Steve C. Wiggs
Huntington State Bank, Lufkin
[email protected]
Roland L. Williams
Post Oak Bank, N.A., Houston
[email protected]
MESSAGE FROM THE PRESIDENT
October is National
Cyber Security
Awareness Month
By J.Eric T. Sandberg Jr., TBA President & CEO
hen the first website went live in 1991 few of us
ever imagined the impact the Internet would have
in our lives. Today, there are 2.5 billion users worldwide, and banking, among most other industries, has been
forever changed as a result.
As you know, despite its usefulness, the Internet is not
always a friendly place, and the threats of cyber attacks continue to grow.
October is National Cyber Security Awareness Month, a
collaborative effort between government and industry to
ensure that every American has the resources they need to
stay safer and more secure online.
In Texas, the Texas Bankers Electronic Crimes Task Force
was formed by Texas Banking Commissioner Charles Cooper,
in cooperation with the Secret Service, to develop recommended practices to mitigate the risks of electronic crimes
such as corporate account takeover. The task force has
developed a list of 19 recommended processes and controls
for reducing the risks of corporate account takeovers. We
have posted this document on the TBA website under the
“Fraud Prevention” tab.
In addition, TBA is committed to increasing the awareness to the membership. This month’s magazine features an
informative article by Craig Collins of One Beacon on how to
prevent corporate account takeover. Craig also discussed this
topic in our weekly radio show, Texas Banking Radio. To
keep the subject of banking fraud front and center in our
publications, we will be running a weekly “Fraud of the
Week” scenario in our Texas Banking Weekly e-newsletter.
We continue to offer education events to keep your staff
informed of these growing crimes. Early this month we
offered a live seminar, “Hands-on Cyber Attacks,” in San
Antonio to help bankers learn to proactively prevent attacks,
as well as learn about tools and techniques to ensure your
systems and networks are secure. In addition, our annual
Security & Risk Management Conference, held this year
Nov. 6-8 in San Antonio, will also address the different types
of cyber fraud.
As Craig Collins states in his article, not all fraud
attempts can be stopped, but with the proper awareness and
diligence, you can have a significant impact.
When the Texas Bankers Electronic Crimes Task Force
met in September, there wasn’t a banker there who didn’t
come away from the meeting without an acute awareness of
the seriousness of cyber crime. TBA will continue to find
ways to help our members deal with cyber crime issues, with
a strong focus on prevention.
W
Reprints: For reprints of Texas Banking articles, contact BankNews
Media at 800-336-1120 or [email protected].
5
CHAIRMAN’S FORUM
Immigration and
demographics
By Ignacio Urrabazo, TBA Chairman
ongress continues to struggle with
the immigration issue. What
Congress fails to see is that immigration requires a comprehensive approach:
World migration patterns run with economic
cycles, and natural demographics play an
important part of the problem and solution.
The history of the world has been based on
migration. The spread of human colonization
was based on migrations from hunting to
farming to trade and economic opportunities.
Western Europe, Asia, the Americas, Africa,
India and China were all populated by different groups at different times. All these
migrations were based on economic conditions
and the search for new opportunities. Land,
gold, trade routes, fertile lands, water, etc.
were the basis for these expansions.
Many governments tried to stop these
migrations by building walls such as the Great
Wall of China, Mao’s Bamboo Curtain, the Iron
Curtain or the Berlin Wall; none of them
worked for obvious reasons, and in today’s
world, walls continue to fail. In the U.S., we
will continue building walls that will also fail.
Immigration can be seen from different
points of view — social, legal, religious or economic. All of them should be considered. As a
banker, I choose to look at it principally from
an economic opportunity point of view, not
only because of economic growth and job creation, but because we have some serious
demographics issues in the United States as
well as the rest of the world. Emotions and
myths should not play a role on these issues.
As bankers, we build our communities, help
small business grow and finance the American
dream. We do these things because our communities, our businesses and our lives are all
based on growth — and we are there to
finance that growth. After all, what business
model is based on stagnation or decline?
Immigration has always been a primary
source for growth. As we all know, America is
the land of immigrants who we know have
added to our strength and value.
There is no better example today of a country in decline than Japan. For example, the
largest manufacturer of diapers in Japan
announced a year ago that for the first time
ever, adult diaper sales outpaced baby diaper
C
“Virtually every
major industry in
this country is
experiencing
some kind of
worker shortage
— energy,
manufacturing,
hospitality, high
tech and lowskilled service
jobs.
Unfortunately,
Congress only
looks at the
border and builds
fences.”
6
sales. Also, Japan now offers women $3,500 per
year per child until the age of 14 as an incentive to have more children, but to no avail.
Japan, once the darling of the engineering
world, today outsources half of its engineering
work to India and Vietnam because it lacks
workers to take those jobs. And it was not too
long ago that the Japanese were buying every
piece of landmark real estate in New York
City and California.
Population replacement requires 2.1 children for each female to sustain the population.
Japan is at 1.3, and most demographers
believe that Japan has passed the tipping
point and will never recover. Some demographers have even predicted the demise of the
Japanese people — estimating that the last
Japanese child will be born in the year 3011
at today’s birth levels. We must remember
that Japan has very strict immigration laws,
and as an island, it has absolute control.
Another example is Russia because its
population shrinks every year by hundreds of
thousands, and to combat this decline, it has
established a new federal holiday — A
National Day of Procreation on Sept. 12 —
where people have a day off, are encouraged to
turn off the lights, close the curtains and do
their patriotic duty! But that doesn’t seem to
be working either. And in France in just a few
short decades, there will be more foreigners in
France than native-born French. Similarly,
Italy has the same issues and depends on
heavy migration from Northern Africa. The
entire European continent is facing disaster.
The reality is that 97 percent of the world’s
population lives in a country with declining
fertility. During the Depression, children were
a profit center because they were free labor on
the family farm, ranch or family-owned business. But today’s children have become a cost
center, so we tend to have fewer of them.
The U.S. Total Fertility Rate (TFR) has
dropped below replacement level of 2.1 and
now stands at 1.93. Whites, African-Americans
and Asian-Americans are all below replacement level. The fertility rate for Hispanics in
the U.S. is at 2.3.
Adding to the demographics issue in
America, about 82 million baby boomers have
see “Chairman’s Forum,” p. 26
Today’s evolving
cyber crime
8
Three-pronged approach helps banks
prevent corporate account takeover
By Craig M. Collins
I
n our digital society, banking is
more accessible than it’s ever been.
Bank customers can automate
monthly bill pay, deposit checks with
cellphone cameras, transfer funds
through text messages and tweet
about the entire process directly
from a bank app. Banks can serve
millions of customers without a
single branch office. Banking has
become so easy, customers don’t even
have to think about it.
Unfortunately, criminals are
thinking about it. With more money
increasingly changing hands through
the Internet, theft through these digital channels is on the rise.
One of the more frequent scams
today is known as corporate account
takeover. According to the Texas
Bankers Electronic Crimes Task
Force, corporate account takeover
happens when thieves manage to
gain access to a business’s banking
information through “legitimate”
channels by stealing user credentials
and passwords. The thieves then initiate transfers to other accounts,
often held by money mules, who then
withdraw the funds or transfer them
on to other criminals.
Small- to medium-sized businesses are particularly at risk
because they carry much larger
account balances than individuals
and generally have lower-level security in place than large corporations.
Compromising the users’ banking
credentials is far easier than trying
to hack directly into a bank’s secure
system. Some of the more popular
methods the FBI has seen employed
by thieves include:
• Sending infected emails containing a Trojan horse virus called
Zeus that records keystrokes for
passwords and account information.
• Planting pop-up advertisements
on legitimate websites that install
viruses once the user clicks.
• Redirecting users away from
banking websites and asking
them to verify key account information, which criminals can then
use to take over the account.
Corporate account takeover can
happen in all types of business
accounts, including churches, hospitals and government entities.
Banking customers often assume
their banks will reimburse them for
any funds missing from their
accounts. However, if the account
was accessed using the customer’s
verified legitimate credentials, is the
bank responsible for these missing
funds? Depending on the circumstances, liability for these types of
thefts can be heavily litigated.
The Internet Crime Complaint
Center (IC3) published a Fraud
Advisory on Corporate Account
Takeover. The IC3’s advisory suggests
banks take a three-part approach to
trying to prevent this type of fraud:
protect, detect and respond.
PROTECT
IC3 encourages banks to “implement
processes and controls to protect the
financial institution and corporate
customers.” These controls can
include elements such as verifying
bank protocols for transfers, educating bank employees on the threat of
fraudulent transfers and encouraging them to follow bank procedures
to the letter.
For example, if a customer callback is a part of the confirmation
process for a transfer, it may be
advisable to call the customer as
opposed to answering a call from the
supposed customer. Many criminals
will immediately call the bank to
verify the transfer in order to prevent the bank from making the call
to the true account owner.
Additionally, bank employees
should not conduct bank business
from their personal computers at
9
“Email accounts for
small businesses are
notoriously easy to break
into, giving criminals
access to all the details
and procedures normally
used with email
transfers.”
home or send bank information
through personal email accounts.
Banks may also want to consider
providing tips to the customers
themselves or establish requirements for certain customers. For
instance, it’s not unusual for a bank
to require corporate customers to
carry their own crime insurance to
have protection in place in the event
of certain types of losses. Banks
might also consider requiring a certificate of insurance from business
customers that demonstrates the
proper insurance is in place, much
like what is already required for
closing on a loan.
Email accounts for small businesses are notoriously easy to break
into, giving criminals access to all the
details and procedures normally used
with email transfers. As a result,
banks may consider recommending
to customers that they designate an
individual computer that is used only
for account transfers.
The use of a dedicated machine
may help prevent unauthorized
users from engaging in transfers and
also potentially help the business
provide a secure environment for
these transfers by avoiding the malware that can be acquired through
email and web browsing. It may
seem like an unnecessary expense to
designate a computer for this one
purpose, but the cost of one machine
is far more affordable than the
potential cost of a breach or theft.
Cash management systems are
also susceptible, and with an administrator’s credentials, thieves can
gain access to individual accounts
and Personally Identifiable
Information (PII) across the entire
system. For example, one method
being employed by cyber criminals is
to use the system to add unauthorized ACH payroll accounts.
Unauthorized payroll payments
can sometimes go unnoticed, so banks
might consider recommending to
business customers potential caps to
the amounts distributed through the
payroll. Banks might also consider
encouraging business customers to
evaluate their overall security procedures and protection options.
DETECT
There are tools available to banks
today to potentially detect thefts in
progress. Many of these systems use
scoring techniques to attempt to
grade the likelihood of a transaction
as legitimate or as a potential fraudulent transfer.
Banks shouldn’t underestimate
the ability of employees to potentially
identify in-progress theft as well. For
example, if an employee notices that
a small company that deals locally is
suddenly sending a large transfer to
an overseas location, and then seeks
to verify the legitimacy of the transaction, he or she might be preventing
a possible theft.
RESPOND
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Fraudulent transfers should be
responded to in a matter of minutes,
not hours, warns IC3. The sooner
banks respond, the greater the
chance of recovering a customer’s
money. The IC3 website offers suggestions for reacting to a fraudulent
transfer, which include verifying that
the transaction is in fact fraudulent,
attempting to reverse the transaction and reporting the theft to the
proper authorities.
While some attempted fraudulent
transfers can be stopped or reversed,
losses due to corporate account
takeover are in the hundreds of millions of dollars each year. Banks
can’t prevent all fraud attempts, but
diligence is invaluable. As with
many forms of fraud, the criminals
will evolve with the prevention techniques. Work to keep your employees
educated and alert.
Craig M. Collins is the president of Financial
Services for OneBeacon Professional Insurance.
He has more than 20 years of experience in the
financial institution industry. He can be
reached at [email protected].
10
How to hire a bank attorney
12 tips for finding, interviewing and selecting the best candidate
By Pat Huttenbach
Hiring the best attorney to provide specialized
services when you need them is a crucial decision
every bank makes at one time or another.
Unfortunately, the process requires extensive
research. Banks that use fees as the primary criteria
for selecting counsel risk paying much more in loss
of reputation or in settlements, damages and court
costs.
Although the list of traits to look for is exhaustive, it’s important to take the time to find an
12
attorney who provides good value, has experience
in banking law and will bend over backwards to
help solve the bank’s problems. There are many
factors to consider in making the decision.
Circumstances may dictate the need for a local or
an out-of-state attorney. Specific legal needs may
require attorneys who specialize in these areas. Do
you find a big firm or a small firm?
In general, however, there are 12 tips that every
bank should consider when hiring an attorney:
1. Look for a lawyer when you do not need a lawyer.
2. Experience counts.
Many times, a lawsuit will get filed and served or a transaction will arise, and a bank will need a lawyer rather quickly.
Most businesses do not want to make important decisions
in a rushed and/or stressed environment. Consequently,
one suggestion is that you look for a lawyer for future
needs. Yes, most bankers are already too busy, and this is
easier said than done. You never know when a legal issue
will arise, however, and you may need to find a lawyer fast.
You may not get the best lawyer for your bank if you have
to make a rushed decision.
There are quite a few lawyers who state that they have “represented banks in the past.” Look for a lawyer who currently
represents banks and has done so for an extended period
of time. I have met quite a few lawyers who have represented banks at one time or another over the last 10, 15
and/or 20 years. Many lawyers state that they represent
banks even if they’ve only represented a bank or two at
some point in the past.
3. Ask up front about billing
arrangements.
Lawyers, just like doctors, advisers,
accountants and/or any other service
professionals, have different qualities
of service. Some charge hourly rates
and others have alternative fee
arrangements. Is there a retainer? Is
any retainer refundable? Rather than
just get the “best” and/or most experienced lawyer, find a very good
lawyer who has a reasonable rate
that adds value to your bank. For
example, you do not want the lawyer
to learn how to handle a new type of
lawsuit and/or learn how to draft new
types of documents. You want a
lawyer who already has forms, so
you are not paying that lawyer to
learn on your case.
11. Interview three to five
lawyers, and pick two to three.
7. For specific legal matters, ask
for the strategy up front.
You want to make certain that both
you and the lawyer agree on the
best way to proceed. Do you try for
a quick settlement in a lawsuit or
do you begin aggressively defending the matter? Both you and the
lawyer need to be in agreement on
initial strategies, as these issues
will determine the overall cost of
the matter.
8. Conduct an interview with
the lawyer.
4. Ask about what clients the
lawyer currently services.
It is perfectly acceptable to ask the
lawyer for names and telephone
numbers of his current clients that
you can call and see how that lawyer
is doing. If the lawyer does not give
out that information, you may want
to look for a different lawyer.
5. When searching for a lawyer,
speak to the lawyer, and
determine if he or she talks at
you and/or listens to you.
Do not just go to a website and/or
ask for references. See how the
lawyer communicates with you,
because the lawyer you choose will
be communicating with you in the
future if you decide to hire him. As
with any relationship, communication matters.
6. Good lawyers should not
charge you for the quick, easy
questions.
A part of any good long-term relationship is that a lawyer should not
charge you for every single question
raised. A good lawyer knows many
answers to specific legal questions.
If the lawyer can provide a quick
answer, he should not always charge
you for doing so. Understand that if
a lawyer does need to research a
slight twist on a legal issue he or she
may need to bill you for doing so.
Ask questions that concern you.
Make sure you get answers. Tell
the attorney what keeps you up at
night, and ask how the lawyer can
assist you in addressing same.
It is always good to have more than
one lawyer represent you in various
different matters. If you only have
one lawyer, there is always a
chance that when a lawyer is
needed, he or she may have a conflict and be unable to represent you
with regard to a specific matter.
Many lawyers who are with big law
firms are conflicted out of many
matters since so many lawyers at
those firms represent so many
clients. As mentioned above, it is
good to try to find lawyers when
you do not need lawyers. Then,
you will be more prepared when
you do need a lawyer for a specific
legal problem. Many lawsuits in the
State of Texas require that an
answer be filed the following
Monday after 20 days of service.
12. Find a lawyer who
understands your business and
your specific legal needs.
9. Ask how the lawyer will
charge you for other expenses.
Ask whether or not clerical assistants will be charged, and how
travel expenses will be handled.
Also ask if there are associates
who can do the work on a cheaper
basis. Ask for paralegal rates. Ask
for any other charges that might be
incurred. You do not want any
surprises.
10. Discuss overall goals for the
legal matter.
Does the lawyer ask what you ultimately want to obtain out of the
engagement? A lawyer should ask
his clients, “If I could wave a magic
wand and get you the result you
want, what would it be?” This way
the lawyer has a clear understanding of what the client wants him to
do. The lawyer should also inform
the client that there are no guarantees. Even with the best lawyer, the
result cannot be absolutely guaranteed by any lawyer.
If a lawyer does not understand
your bank’s specific legal needs,
part of the interview with the lawyer
should be explaining what is
needed and when. Many banks
can handle routine legal matters
themselves or they may have internal legal counsel that can handle
various matters. However, if your
bank has specific legal needs,
such as handling garnishments or
UCC litigation or collecting
amounts due and owing, please
make certain the lawyer is a “bank
lawyer” who can handle such specific legal needs. There are a lot of
excellent lawyers licensed to practice law in the State of Texas, and
you can always ask other banks to
recommend lawyers that they think
are doing a good job for them.
William “Pat” Huttenbach is employed by
Hirsch & Westheimer in Houston, where he is a
litigation attorney concentrating on civil matters. For more information, he can be reached
at [email protected].
13
TEAM RATTLERS: School supply drive.
TEAM COWBOYS: MDP member, Tony Hernandez, donates blood.
Lessons in leadership
Bankers learn from giving back to their communities
By Sarah Van Ert
What does it mean to be a good leader? Is it
charm and charisma? Experience? Attendees of
TBA’s Management Development Program
enrolled in the course with fraying nerves, hearing
tales of intense sessions that push students to
their limits to bring out the leaders within.
What they learned surprised them. Leadership
can’t be defined. It’s a quality that can be honed
and shaped, but never perfected. It’s illusive, yet
desired by all. MDP attendees buckled themselves in for ropes courses, performed seemingly
strange team-building activities and were
14
instructed to go out and change the world, all
before completing the yearlong course. More
specifically, teams of bankers were instructed to
go start a charitable outreach project to benefit
their respective communities.
MDP’s Class VI was divided into four groups of
bankers: Team Rattlers, Team Cowboys, Team Pink
Mongoose and Team Bacon. Each group was to
come up with the project, present it for approval and
execute it within the specified time frame. With a purposeful lack of direction, these teams of bankers
scrambled to agree on a project and get started.
TEAM PINK MONGOOSE: Melanie Horton helps with Food for Friends.
TEAM BACON: Titus County Sheriff Tim Ingram [pictured behind bars]
receives some consoling after being dunked by American National Bank
Senior Vice President Ernie McAnally.
Supplying schoolchildren
“When we were given the assignment to give back to the
community, [Team Rattlers] knew we wanted to do something to give back to children,” says Norma Elizalde, vice
president of the loan department at First Community
Bank in Corpus Christi. “We decided to conduct a school
supply drive and fundraiser to benefit local kids who
were returning to school.”
In addition to Elizalde, the team consisted of Francis
Spruiell of Austin Bank, Texas N.A. in Nacogdoches; Josh
Avant of Sage Capital Bank in Lockhart; Kenneth
Burgess III of FirstCapital Bank of Texas, N.A. in
Midland; Jeff Rhea of Guadalupe National Bank in
Kerrville; and Marvin Walters of Ridglea Bank in Fort
Worth.
To achieve their goals, team members utilized the
Girls and Boys Club, or in Elizalde’s case, the United
Way, to use existing, proven systems. Spruiell conducted a
“Day of Caring” at the Boys and Girls Club of
Nacogdoches and recruited 10 NFL and NBA players,
including basketball Hall-of-Famer Moses Malone, to
attend the event.
“The focus of the event was on higher education, and
the kids were so excited and motivated since they idolize
professional athletes,” says Elizalde. “[Spruiell] knew the
athletes were in town for a golf tournament, and decided
to ask for their participation, never thinking she would
get a large number to attend. We learned that it never
hurts to ask!”
Additionally, Team Rattlers wanted to personally give
back to the school supply drive. Burgess, Walters and
Avant decided to split up a triathlon and raised money in
order to compete and donate to the cause.
Besides completing a grueling triathlon, Team Rattlers
conducted a successful school supplies drive, raising a
total of $2,666.26 and 10 boxes of school supplies. “What
surprised me is how much people will give and care about
your mission if you just take the time to educate them,”
says Elizalde.
Lending Life
The dedicated Team Cowboys was composed of Jodi
Dickau of Community Bank & Trust in Waco; Matt
Brown of Guaranty Bond Bank, N.A. in Commerce; Tony
Hernandez of Amistad Bank in Del Rio; Jonathan
Kamenicky of Citizens National Bank in Taylor; Todd
Price of First State Bank in Mesquite; and Haskell
Strange of Mineola Community Bank, S.S.B.
In light of the recent tragedies around Texas, including
the explosion in West and a tornado in Granbury, Team
Cowboys wanted to give back to their fellow Texans in
need. “We felt called to do something to help our neighbors in a way we hadn’t done before,” says Dickau. “We
learned about the lasting benefits giving blood has, and
saw that it’s an easy way to give back that doesn’t cost
much money.”
The group shared statistics to illustrate the need to
their communities, informing people that every two
15
TEAM RATTLERS: Setting up the school supply fundraiser.
TEAM COWBOYS: Promoting the blood drive.
seconds, someone in the U.S. needs blood, more than
44,000 blood donations are needed daily and one donation
can help save the lives of up to three people.
“We knew the need was ongoing, not just in the face of
a tragedy, so our decision was easy, and team members
contacted local agencies to schedule blood drives in our
areas,” says Dickau.
The appeal for help was more successful than these
bankers could have imagined. “I was not expecting the
response that I got,” says Dickau. “I had so many employees and family members stepping in to help that I didn’t
have room for everyone and had to turn people away
when the sign-up sheet was full.”
During the two weeks the project was conducted, these
six banks provided 148 donors. Do the math, and the
number of donations potentially saves the lives of up to
444 people. “A lot of people don’t realize that one simple
act of kindness can help so many people,” says Dickau.
“I’m looking forward to keeping in touch with our team
and perhaps continuing to collaborate on a project even
after MDP is over.”
Horton was also surprised by how eager the community was to give back. “A grocery store supervisor told me
that they would like to be more involved in future projects, and next year, would match what the bank spends
on groceries,” says Horton. “It’s eye-opening what you can
achieve when you ask for help, and the more help you
receive, the greater the reach.”
“Next year, before school starts, I can see my group
running this program again so that families who are
struggling financially don’t have to choose between
buying school supplies for their kids and putting food on
the table,” says Horton.
Feeding friends
Team Pink Mongoose came up with the idea for a food
drive by voting on project ideas team members submitted.
“What was great about the program we chose is that it
was easy to tweak for all banks to implement in their
areas,” says Melanie Horton, vice president and controller
at FirstCapital Bank of Texas in Midland. “We all labeled
the project as Food for Friends and teamed up with a local
grocery store, but each picked a different charity to help.”
In addition to Horton, team members included Kelly
Garcia of Sonora Bank in Boerne; Kirt Hearne of Horizon
Bank, SSB in Salado; Michele Philips of First National
Bank in Big Sandy; Dana Phillips, now with FirstCapital
Bank of Texas, N.A. in Lubbock; and Robert Slider of
First Federal Community Bank in Paris.
Horton selected Midland Fair Havens, a nonprofit that
helps provide self-sufficient living in residential and nonresidential settings for single mothers and their children.
Although she has experience volunteering with United
Way, getting a community impact project up and running
was outside Horton’s comfort zone.
“I’m an accountant and I like to be at my desk surrounded by financials and working with numbers, so to
get out there and know it was something I created and
oversaw was an amazing feeling,” she says. “It’s a project
I would normally be involved in, but never think to be the
leader of.”
16
Brick by brick
Team Bacon also set out to make a difference. Members
include Holly Stearman of the First National Bank of
Eagle Lake; Jeff Whitfield of Commercial Bank of Texas,
N.A. in Nacogdoches; Owen Cheney of Moody National
Bank in Galveston; Jess Koy of Austin County State
Bank in Bellville; Mark Jackson, formerly with First
Financial Bank; and Vikki Goates of the American
National Bank of Mount Pleasant.
One of the things MDP leaders suggest is finding a
project that you’re passionate about and giving it that
personal touch. One of Team Bacon’s members lives in
Granbury and witnessed firsthand the destruction the
recent tornado caused in the area, leveling many homes.
“We found out that many of those homes that were
destroyed were Habitat homes, and we got the idea to
give back to our local chapters and raise money for
Granbury’s rebuilding efforts,” says Stearman. “I received
initial feedback that it would be difficult to raise money
or have a strong buy in, so I was pleasantly surprised to
see my bank, church and youth group all come together to
help the cause.”
Their efforts paid off, as the team exceeded its initial
goal of $10,000 and raised $15,598.36 plus matching
donations of $7,726.43. “Habitat in Granbury was originally slated to do two homes, but due in part to our
efforts, they now expect to build six this year,” says
Stearman.
In addition to monetary goals, business relationships
were formed in which several companies in Nacogdoches
pledged continued support for future homes to be built.
Roofing materials, windows and new toilets have already
been donated. And Team Bacon isn’t stopping there.
“Several of us plan to go on builds, and employees in our
banks have expressed an interest in helping out as well,”
says Stearman.
TEAM PINK MONGOOSE: Nick Carpenter, Kelly Garcia and Patrick Luthen,
TEAM BACON: Holly Stearman good naturedly endures a pie in the face.
all of Sonora Bank-Boerne, prepare for the food drive.
Emerging as leaders
In typical MDP fashion, the community projects were both
emotionally and physically exhausting, but infinitely
rewarding. Although many bankers were already involved
in their communities, they learned just how many hours
and how much sweat is required to take the initial step.
“We are all community banks, so [as bankers] we need to
give back to the communities we live in, not just from 8-5
during work, but outside of our jobs as well,” says Elizalde.
Not only did the MDP program teach the bankers
about dedication and giving back, but it helped shape
their career ambitions and leadership styles.
“MDP gave me more confidence both at work and out-
side of work,” says Dickau. “You learn to step outside your
box in this safe environment, and the next step is just
transitioning this to the office. The program made me
more aware of my personal goals as a leader, as I realized
through our sessions that I want to be the leader who sets
the example and shows others how a leader should act.”
So, what did the bankers learn about leadership? It’s
about being a role model, one that others respect and
admire. Of course, this may stem from many different reasons and will vary from person to person. Yes, the concept
of leadership is still elusive, but we’re getting closer.
TBA is currently taking applications for Class VII, which kicks off Feb. 9,
2014. Additional information is available on the TBA website.
Charting
the course
to success
Now taking applications
for the 2014 class. Visit
www.texasbankers.com to
download the brochure.
“The TBA Management Development Program has been invaluable to several of our staff members to not only enhance bank management skills but also to broaden the vision of the community impact that our bankers and banks
can have on our respective communities.”
— Jay Isaacs, President of FirstCapital Bank of Texas
17
NEWS & TRENDS
IBC’s Bertha Garza honored by banking publication
American Banker selected IBC
Bank-Brownsville First Vice
President Bertha Garza as the inaugural, sole recipient in the nation to
receive the Community Impact
Award. This new recognition, to be
bestowed annually, was inspired by
Garza’s contributions in promoting
financial literacy. It is now intended
to honor a woman in banking who
has effectively brought innovative
strategies and personal compassion
to her role in making a significant
difference in the world around her.
“Bertha makes a difference in
our community daily and we are
proud that American Banker is recognizing her with this national
Community Impact Award,” IBC
Bank-Brownsville President & CEO
Fred Rusteberg said. “We are thankful for her 15 years of service to
IBC, her ‘We Do More’ attitude and
her commitment to the Brownsville
community.”
Garza continuously inspires positive change in the Brownsville
community through leading a variety of programs that focus on
Pentegra celebrates 70 years
This summer, Pentegra Retirement
Services celebrated its 70th anniversary and unveiled a new logo that
ties its three groups together.
Pentegra acquired Advanced Pension
Solutions in 2012 and Alliance
Benefit Group Carolinas in 2011.
Pentegra, one of TBA’s endorsed
partners, was founded in 1943 by the
Federal Home Loan Bank System to
offer a retirement program for its
employees. While the company still
serves financial institutions nationwide, it now manages more than
3,500 retirement plans with more
than $7.5 billion in retirement plan
assets with clients that include corporations, financial institutions and
nonprofit organizations, as well as
the advisers who serve them.
financial education and leadership
development. Some of her greatest
achievements include the FDIC
Money Smart Program, the Federal
Reserve Bank’s Building Wealth
Program, Get Smart about Credit,
IBC Bank’s proprietary “Money
Buzz” and IBC Bank’s Minitropolis
program. She also founded the program, “Women, Money & Power” to
teach and inspire women to live happier lives while providing a platform
that allows them to bond and celebrate their unique stories of
leadership.
“I am grateful to IBC for giving
me the opportunity in 1998 to
become part of an organization that
places such high value on giving
back to our community, and to my
family and friends for their abundant love and support,” Garza said.
“Giving back to my community is
something I feel strongly about and
strive to incorporate into my daily
life, so I am incredibly honored and
thankful to American Banker for the
recognition.”
Garza joined IBC Bank in 1998
as assistant vice president and main
bank branch manager. In 2006, she
was promoted to her current role as
first vice president, which includes
serving as CEO assistant, secretary
to the board, marketing director and
international banker.
Garza will receive her award Oct.
10 at the Waldorf-Astoria Hotel in
New York City.
PRESENTED BY
2013
Banker Outreach Program
November 20, 2013
Hilton Austin Airport • Austin, TX
November 22, 2013
Richardson Hyatt Hotel • Richardson, TX
Register online at www.texasbankers.com
18
NEWS & TRENDS
Merger creates one of the largest independent banks in Houston
CBFH Inc., the holding company of
CommunityBank of Texas,
announced the completion of the
merger between CommunityBank of
Texas and Vista Bank Texas. As of
Aug. 23, the bank has been operating
under the CommunityBank of Texas
name. It is one of the largest independent banks in the greater
Houston area with aggregate assets
exceeding $2.3 billion.
Robert Franklin
Jr., co-CEO of
CommunityBank of
Texas, noted the
strategic partnership
between the banks is
opening doors to
greater opportunities for the bank in
new commercial markets.
“This is truly a merger of equals,
a partnership created to provide
extensive capital resources to a
flourishing marketplace that
demands speed and flexibility,” said
Franklin. “Both banks are known for
a culture of responding quickly to
customer needs. This partnership
opens up significant new resources
for commercial development and
lending that we can dedicate to the
Houston market and across East
Texas.”
“This is a new model of community banking that retains every bit
of local responsiveness at the branch
level, but offers customers financial
resources, products and services on
par with nationally based financial
institutions, in fact
better than big
banks,” added J. Pat
Parsons, chairman
and co-CEO of
CommunityBank of
Texas.
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“A community bank of our size is
becoming more of a rarity in the
banking world. But our independence and size is exactly what allows
us to serve mid-market businesses
and industries with expanded
resources and less red tape. No one
else in the market is doing this, and
it’s what has enabled us to grow so
aggressively in the six years since
we opened our doors.”
Gov. Perry
reappoints Dale
Brock
Gov. Rick Perry has reappointed
three members to the Texas
Commission on the Arts, including
Dale Brock, senior
vice president of
OmniAmerican Bank
in Fort Worth. The
commission encourages appreciation for
fine arts in Texas
and acts in an advisory capacity
regarding the construction and
remodeling of state buildings and
works of art.
Brock is a member of the Risk
Management Association, American
Bankers Association, Texas Bankers
Association, French-American
Chamber of Commerce and Fort
Worth Chamber of Commerce. He is
a board member of Downtown Fort
Worth Initiatives Inc., Downtown
Fort Worth Inc. and the Texas
Manufacturing Assistance Center
Metroplex Regional Advisory Board.
He is also a board and executive
committee member of the Arts
Council of Fort Worth and Tarrant
County, a member of the Fort Worth
Strategic Action Plan steering committee for Plan 2023 and president
of the Fort Worth Downtown
Neighborhood Alliance Board of
Directors.
Brock received a bachelor’s degree
from Southern Methodist University
and is a graduate of the University
of Delaware Stonier Graduate School
of Banking. He is reappointed for a
term to expire Aug. 31, 2017.
NEWS & TRENDS
Chairman Larry Uhlick retires from BBVA Compass board
BBVA Compass
announced recently
that Larry Uhlick is
retiring as chairman
of the board of directors of BBVA
Compass and its
holding company, BBVA Compass
Bancshares Inc. Manolo Sanchez,
BBVA Compass president and CEO,
took over as chairman upon Uhlick’s
departure Sept. 30.
Uhlick plans to continue working
on policy issues in international
banking and financial services.
“I’ve been privileged to be a part of
an exciting chapter for BBVA
Compass,” he said. “And I look forward
to using my cumulative knowledge and
expertise to assist others in dealing
with our complex regulatory system.”
Over the course of his career, Uhlick
has distinguished himself as an expert
in regulatory and legislative affairs.
Before his appointment as BBVA
Compass chairman, he spent 23 years
as the chief executive of the Institute
of International Bankers, which represents internationally headquartered
banks from 40 countries that operate
in the United States.
“Larry’s deep understanding of
international banking and his keen
insight into regulatory issues has
been a real benefit to BBVA
Compass,” said Sanchez. “He has
played a key role in the growth and
success of our bank, helping us to
effectively navigate the Washington
landscape during an important and
challenging time for the industry.”
Uhlick is a graduate of Adelphi
University and holds a master’s degree
in political science and a law degree
from Syracuse University as well as an
advanced master’s, or LL.M., from
New York University School of Law.
Uhlick also recently served as a
member of the TBA Board of
Directors.
Your source for Texas banking publications
TBA online publications
• Texas Home Equity Lending
Guide
• Texas Secured Lending Guide
• Texas Real Estate Lending Guide
• Texas Account
Documentation Manual
• Texas Credit Law Guide
• Texas Problem Loan Guide
• Texas Guide to Record Retention
www.thebankstore.com
21
NEWS & TRENDS
Most bank customers pay little or no monthly fees
According to a recent survey by the
American Bankers Association, most
bank customers — 65 percent —
spend $3 or less in monthly fees for
banking services such as checking
account maintenance and ATM access
— less than the cost of a gallon of gas.
The majority of Americans — 55 percent — continue to pay nothing at all.
“Today’s savvy consumers are
avoiding many bank fees by taking
steps like maintaining a minimum
balance and only using ATMs owned
by their bank,” said Nessa Feddis,
ABA’s senior vice president and
deputy chief counsel for Consumer
Follow TBA on
Twitter @texasbankers
and get the latest
banking and TBA news.
Protection and Payments. “These
results prove that most customers
responsibly manage their accounts,
allowing them free access to a service that ensures their money is safe
and available day and night.”
The annual survey of 1,000 U.S.
adults was conducted for ABA by
Ipsos Public Affairs, an independent
market research firm, July 11-17.
ABA has conducted the survey annually since 1998.
When asked “How much do you
estimate you spend on fees for banking services each month, such as fees
for checking account maintenance,
ATM use and so forth?” consumers
provided the following responses:
• 55 percent said they pay nothing;
• 10 percent said $3 or less;
• 8 percent said $4 to $6;
• 4 percent said $6 to $9; and
• 14 percent said $10 or more.
The number of persons who pay
nothing in bank fees declined
slightly in the last year (59 percent
reported paying no monthly fees in
2011), due in part to governmentimposed reductions in the fees that
merchants pay banks to use the payment system. This is revenue that
banks rely upon to help cover the
cost of providing checking accounts.
Nonetheless, many savvy customers
are continuing to prevent themselves from owing fees.
“While providing free checking
accounts has become more challenging in today’s regulatory
environment, a competitive financial
marketplace — along with prudent
account management from bank customers — means most people still
pay nothing for the great service
banks provide across multiple convenient channels,” said Feddis.
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22
NEWS & TRENDS
Prosperity Bancshares to merge with F&M Bancorporation
Prosperity Bancshares Inc., the
parent company of Prosperity Bank,
recently announced the signing of a
definitive merger agreement with
F&M Bancorporation Inc., the
parent holding company of The F&M
Bank & Trust Company, headquartered in Tulsa, Okla., whereby
Prosperity will acquire FMBC and
F&M Bank. Prosperity has completed six merger transactions in the
last two years and currently has one
transaction pending, which was
announced July 1.
F&M Bank operates 13 banking
offices: 10 in Tulsa and surrounding
areas and three in Dallas. As of June
30, FMBC, on a consolidated basis,
reported total assets of $2.437 billion, loans of $1.9 billion and
deposits of $2.208 billion.
Under the terms of the definitive
agreement, Prosperity will issue
3,298,246 shares of Prosperity
common stock plus $47 million in
cash for all outstanding shares of
FMBC capital stock, subject to certain
conditions and potential adjustments.
Anthony Davis, chairman and CEO
of FMBC, will serve the combined
entity as chairman-Tulsa Area and
Turtle Creek Banking Center and will
be responsible for the day-to-day oper-
TBA calendar of events
Oc t o b e r
10-11 Texas Association of Bank
Counsel 37th Annual
Convention, Austin
25
Advanced Trust Forum, Dallas
ations and management of all Tulsa
locations and the former F&M Bank
Turtle Creek location in Dallas.
Eric Davis, president of FMBC,
will serve as vice chairman-Tulsa
Area and Turtle Creek Banking
Center and will have management
responsibilities for Prosperity’s Tulsa
area and the Turtle Creek location.
Jeff Pickryl, president of F&M Bank,
will become president-Tulsa Area
and Turtle Creek Banking Center,
and will be responsible for lending in
the Tulsa area and for the lenders at
the Turtle Creek location.
“I am very excited to be able to
announce the merger of F&M
Bancorporation Inc. with Prosperity,”
stated David Zalman, chairman and
CEO of Prosperity. “F&M Bank has a
rich background, with over 68 years
of banking history in the Tulsa
market. Our combined companies,
together with our recent merger with
Coppermark Bank in Oklahoma City,
will have the seventh largest deposit
market share in Oklahoma.”
The merger has been unanimously approved by the boards of
directors of both companies and is
expected to close during the first
quarter of 2014, although delays
may occur. The transaction is subject
to certain conditions, including the
approval by FMBC’s shareholders
and customary regulatory approvals.
Operational integration is anticipated to begin during the second
quarter of 2014.
Texas tailgaters
benefit BankPac
Payne and Mallory Howard are on their way to
a Texas tailgate party before the University of
Texas versus Kansas State football game Sept.
21. Payne, whose father, Howell, is a director at
Shelby Savings Bank in Center, bought the
football package at last year’s TBA BankPac
Auction in San Antonio. The tickets were
donated by Horizon Bank in Austin; AT&T
Center donated the hotel room; and Ty and
Celeste Embrey hosted the tailgate party.
COMING
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Now!
No v e m b e r
8
Texas Bankers Foundation Board
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Trust Risk Issues & Compliance,
Houston
The most up-to-date officers, directors, financial
data*, addresses, phone/fax numbers and other
reference information.
De c e m b e r
3-6
4
4
5
CEO and Senior Lender Forums,
Austin
TBA Executive Committee
meeting, Austin
TBA Bank Leadership Council
meeting, Austin
TBA Board of Directors meeting,
Austin
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*Data current as of
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NEWS & TRENDS
Sen. John Cornyn hosts Texas Dove Hunt
TBA staff and members were represented at U.S. Sen. John Cornyn’s Texas Dove Hunt, held Sept. 22-23 at Nooner Ranch in Hondo. The fundraising event
included a reception and dinner and afternoon and morning hunts. Shown with Sen. Cornyn are, left to right, Larry Uhlick, BBVA Compass Bancshares Inc.,
Houston, and TBA’s President and CEO Eric Sandberg and General Counsel John Heasley. Pictured with U.S. Sen. Ted Cruz are, left to right, Sandberg, TBA
Member Relations Officer Donny Palmer and Heasley.
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NEWS & TRENDS
Chairman’s Forum
continued from page 6
already begun to retire. The problem
is that only 67 million people are
entering the workforce behind them. I
don’t need my calculator to figure out
the problem with this equation.
Virtually every major industry in this
country is experiencing some kind of
worker shortage — energy, manufacturing, hospitality, high tech and
low-skilled service jobs.
Unfortunately, Congress only looks at
the border and builds fences.
The problem is that Congress
resolves issues based on a foundation
of myths, paranoia and emotional
rhetoric. We bankers don’t make loans
that way, so why is Congress making
laws that way? Congress has become
so obsessed with law enforcement that
is has been blind to the GAO Report
that stated that in 2012, 51 percent of
all Border Patrol and Customs agents
would be eligible for retirement.
Meanwhile, Congress constantly
calls for the doubling of the Border
Patrol. But for every one they hire,
they are going to lose one to retirement. We are now spending more than
$18 billion annually on border protection, which is more money than is
spent in all other federal law enforcement combined. I think we may have
reached another tipping point.
Studies show that the elderly population is expected to double between
now and 2030. Meanwhile, one-third
of the physician workforce consists of
boomers who are retiring, and, according to the American Association of
Medical Colleges, the percentage of
people per capita going to med school
has been declining since 1980. So who
is going to take care of the elderly in
this country? The bottom line is that
you either produce your own human
capital or you import it. We are failing
to do either.
Because of the proximity between
the United States and Mexico, we
must focus on that vital relationship.
In the 1960s, Mexico’s fertility rate
was 7.0. That means the average
adult female was having 7 children.
Today, their fertility rate has dropped
to 2.2. No country in the history of the
world has seen such a decline in fertility in such a short period of time.
Despite this decline, and the cartel
violence, Mexico’s economy is booming. Their unemployment rate is 4.5
percent; ours is 7.5 percent. Their
GDP is growing at a faster rate than
ours; they graduate three times as
many engineers per capita as the U.S.
does, and now President Peña-Nieto
is talking about opening up offshore
oil exploration. President Peña-Nieto
J.B. Lloyd & Associates Welcomes Fred Eickoff
Meet our newest producer and see how he can help your firm get more from
its insurance.We sat down with Fred Eickoff—the newest producer
at J.B. Lloyd—to give our clients a chance to get to know Fred.
Q: What should our clients Q: Tell us a little more
know about Fred Eickoff? about your background
and training.
A: Pretty much, I
help financial services
companies get the insurance
products they need so
they can stay focused on
their core business. I’ve
been at it for 33 years as
an underwriter and agent
for financial institutions.
I really excel in helping
banks that are experiencing
difficulties obtain the
broadest Bank Bond and
D&O coverage.
A: I worked at USF&G
and then at The St. Paul
before becoming an agent.
I specialize in Financial
Institution Bond, D&O,
Package, and Mortgage
Impairment Insurance. I
hold CPCU (Chartered
Property and Casualty
Underwriter) and AFSB
(Associate in Fidelity
and Surety Bonding)
designations. Before that,
Visit J.B. Lloyd & Associates, LLC at www.lloyd-ins.com
26
I graduated from Indiana
University. Go Hoosiers!
Q: How can clients reach
you to learn more?
A: I’m based in Cape
Coral, FL. Feel free
to email me
([email protected]) or
call me at 239-994-4339.
is also passing major educational and
social legislation reforms.
If we build any more border fencing, it should be to prevent the
Mexican nationals here in the U.S.
from going home, or our economy will
really take a dive. We must remember
that Mexico experienced major economic crisis in the mid 80s and early
90s (the lost decades) with high unemployment rates due to many reasons,
including oil collapse, trade isolationism, nationalization of the Mexican
private banks, devaluations due to
government mismanagement, etc.
At the same time, the United
States was experiencing strong economic growth and declining birth
rates coupled with a very weak immigration policy. It should be obvious to
everybody what happens when these
economic forces meet. As broad
changes in the global economy are
occurring, Mexico is experiencing
unprecedented immigration patterns.
According to a recent New York
Times article, in 2000 the 492,617
documented foreigners in Mexico
nearly doubled to 961,121 in 2010.
Between 1995 and 2000, there were
2.94 million Mexicans that migrated
to the United States and only 670,000
U.S. citizens that migrated to Mexico.
But from 2005-2010, the tables
changed. There were 1.37 million
Mexican citizens that migrated to the
United States while there were 1.39
million U.S. citizens that did the
same into Mexico. The net change
was 2.27 million to the United States
between 1995-2000 and 20,000 net
change to Mexico between 2005-2010.
The economic patterns have changed.
The reason Congress can’t make
any headway on immigration is
because they talk about it in an emotional space. As bankers, it’s up to us
to keep our elected leaders informed
and accountable. One way to achieve
that is to ensure that we focus on the
numbers and not on emotions. We
need to look at the road ahead and
realize the economic calamity that is
coming if we fail to produce or import
the workers we need to keep our economic engine humming.
Nobody knows numbers like
bankers do. So it’s time we engage on
this issue through a simple message
to Congress. It’s about demographics
and economic growth!
NEWS & TRENDS
PlainsCapital Bank acquires failed Edinburg bank
Hilltop Holdings Inc. recently
announced that its subsidiary,
PlainsCapital Bank, has entered into
a purchase and assumption agreement with the FDIC to assume
substantially all of the liabilities and
purchase substantially all of the
assets of Edinburg-based First
National Bank. The transaction is
structured as a whole bank purchase
and assumption agreement with loss
share coverage. PlainsCapital Bank
assumed all deposits and opened all
branches under its name.
Based on April 19 balances of
First National Bank, PlainsCapital
Bank purchased at book value
approximately $2.6 billion of assets
and assumed approximately $2.4 billion of liabilities. Under the terms of
this transaction, PlainsCapital Bank
assumed all deposits and did not pay
a deposit premium to the FDIC.
PlainsCapital Bank bid an asset discount of $260 million.
Hilltop Holdings previously has
bid on failed banks through FDICassisted transactions, but this is the
first successful acquisition. First
National Bank’s deposit franchise
and expansive branch network
allows PlainsCapital Bank to further
develop its Texas footprint. This
transaction also allows PlainsCapital
Bank to enter the Rio Grande Valley,
Houston, Corpus Christi, Laredo and
El Paso markets, among others.
“The First National Bank transaction provides an extension of
PlainsCapital Bank’s franchise into
new Texas markets and strengthens
our franchise in markets that we are
already serving,” said Jeremy B.
Ford, president and CEO of Hilltop
Holdings.
Upon completion of the transaction, Hilltop Holdings and
PlainsCapital Bank will remain well
capitalized. Regulatory approval of
the transaction was simultaneous
with the announcement.
DEALS
AS BIG AS
TEXAS
THIS ANNOUNCEMENT
APPEARS AS A
MAT TER OF RECORD ONLY.
______________________________________
San Antonio,Texas
is Acquiring
Commerce Street Holdings, LLC
1445 Ross Avenue, Suite 2700
Dallas,Texas 75202
214.545.6800
Odessa,Texas
Commerce Street Capital, LLC
is a member of FINRA/SIPC
The undersigned acted as f inancial advisor to
WNB Bancshares,Inc.– Member FINRA/SIPC
27
NEWS & TRENDS
TBA Professional Development
Banking School
Webinar - $265 ($530 nonmember)
5-day - $2,300 ($4,600 nonmember)
Conference
4-day - $2,100 ($4,200 nonmember)
2-day - $595 ($1,190 nonmember)
3-day - $1,425 ($2,800 nonmember)
2-1/2 day - $625 ($1,250 nonmember)
Compliance Update School - $725
($1,450 nonmember)
Management Development Program
Professional Development
$3,900 (1-year program)
Full-day Seminar - $325 ($650 nonmember)
Program pricing, dates & locations are subject to
Evening Seminar - $145 ($290
change. Banking school fees are based on single
occupancy and include housing and meals.
nonmember)
Shaping the Future of Banking
The featured AIB courses are instructor-led online
courses and start on the date shown. Course
lengths vary from five to 16 weeks and are noted
on each course. For full descriptions and a list of
self-paced online courses, please visit our
website at www.texasbankers.com.
October 2013
Principles of Banking
7 16 weeks
Introduction to Agricultural Lending
TBA Schools & Conferences
7 8 weeks
SCHOOLS
Internal Audit School
CONFERENCES
Security & Risk
Strategic Opportunities 2013 Management Conference
Marketing Financial Services
Oct. 7-11, Montgomery
Oct. 23-25, New Orleans
Nov. 6-8, San Antonio
Analyzing Financial Statements
C&I Lending
Webinar
Law and Banking: Principles
28 1:30-3:30 p.m.
(Part 1)
Nov. 41:30-3:30 p.m.
(Part 2)
Law and Banking: Applications
7 16 weeks
7 16 weeks
Introduction to Lending
October 2013
16 Richardson
17 San Antonio
18 Houston
Fair Lending for Lenders
Webinar
8 1:30-3:30 p.m.
Loan Originator
Compensation Rules: YearEnd Review
Webinar
Better Hires & Stellar
Performance
Webinar
9 1:30-3:30 p.m.
(Hire Right)
24 1:30-3:30 p.m.
(The Best in the
Business)
Auditing for Internal Fraud
Webinar
18 1:30-3:30 p.m.
Lending Compliance Update
10 1:30-3:30 p.m.
Competing with the Big
Guys: Successful Strategies
for Community Banks
Webinar
Strategic Loan Pricing
Webinar
15 1:30-3:30 p.m
BSA Staff Training
Webinar
16 1:30-3:30 p.m.
30 1:30-3:30 p.m.
(Vendor Management)
31 1:30-3:30 p.m.
(Exam Hotspots)
17 1:30-3:30 p.m.
Commercial Real Estate
Loan Documentation
Webinar
11 1:30-3:30 p.m.
Technology
Webinar
21 San Antonio
21 Video Webcast
22 Richardson
Working Capital & Asset
Based Lending
Webinar
Directors Certification
Program
31- Nov. 2 Richardson
November
Professional Credit Analyst
Webinar
5 1:30-3:30 p.m.
6 1:30-3:30 p.m.
21 1:30-3:30 p.m.
Oil & Gas Lending
Webinar
22 1:30-3:30 p.m.
Lending to Municipalities
Webinar
23 1:30-3:30 p.m.
Preparing for Your FCRA
Exam
Webinar
7 1:30-3:30 p.m.
(moved from 9/10)
Supervisor Boot Camp
7-8 Houston
All webinars are Central Time Zone
www.texasbankers.com/education
7 16 weeks
15 16 weeks
Principles of Banking Accelerated
15 10 weeks
General Accounting
16 16 weeks
21 16 weeks
Consumer Lending
21 16 weeks
Introduction to Mortgage Lending
28 16 weeks
Commercial Lending
28 12 weeks
November 2013
Analyzing Financial Statements
4 16 weeks
4 16 weeks
General Accounting
12 16 weeks
Money and Banking
12 16 weeks
Online Review Course for the CTFA
Examination
12 12 weeks
Principles of Banking Accelerated
12 10 weeks
Managing Interest Rate Risk
12 8 weeks
December 2013
Basic Administrative Duties of a Trustee
2 5 weeks
2 16 weeks
28
ND
D
TEXAS
B
TION
CIA
E
KERS ASSO
AN
ORSE
PARTNER FOCUS
Insperity helps businesses succeed,
communities prosper
t Insperity, our mission is to
help businesses succeed so
communities prosper, and
our offerings help companies at
every stage of growth enjoy greater
success and profitability. Insperity
has been a trusted adviser to
America’s best businesses for more
than 27 years, and provides an array
of human resources and business
solutions designed to help improve
business performance.
Through our Business
Performance Advisors, we offer the
most comprehensive suite of products and services available in the
marketplace. Insperity Workforce
Optimization is our full-service
human resources solution that delivers administrative relief, better
benefits, reduced liabilities and a
systematic way to improve productivity.
Workforce Optimization ensures
that your day-to-day administrative
A
needs are met with the highest quality services, from benefits
management, payroll processing and
employment administration services
to the management of your employer
liability and government compliance
issues. To further drive your success,
we support your recruiting and outplacement needs, provide training
and development opportunities for
your leaders and workforce and help
you manage the performance and
alignment of your people for maximum effect.
Here’s how our HR services can
help grow your business:
• Lower your costs: Reduce payroll, accounting and benefits costs
along with all the other administrative duties that drain your
valuable time and attention.
• Better benefits: Give your
employees access to Fortune 100level benefits to help attract and
retain top talent.
• Health care reform support:
We take on the compliance and
complexity around health care
reform, shielding you from any
potential repercussions.
• Reduce your risk: Limit
employer-related liability by
allowing us to handle government
reporting, agency interface, unemployment claims management,
and wage claims and audits.
• Full HR support: Get a dedicated team of professional HR
specialists to help fill in the gaps
with day-to-day HR duties as well
as employee recruitment, retention and management.
To find out how Insperity can
help your business run better, grow
faster and make more money, visit
Insperity.com or call 800-465-3800.
Banks join the new-media education movement
EverFi Inc., whose financial literacy
education platform was recently
endorsed by the Texas Bankers
Association, is partnering with
banks across the state to educate
students and communities about personal finance using the tools teens
love — digital learning and gaming.
EverFi has created an online learning platform to help banks and schools
work together to educate young adults
on financial literacy. The EverFi curriculum incorporates virtual worlds,
gaming, social media and videos to
help teach users critical skills, from
filing taxes and using credit cards
wisely to investing in 401(k)s and
financing higher education.
EverFi’s investors, who have put
the company in a
national spotlight,
include some of the
biggest names in consumer technology:
Amazon founder and
CEO Jeff Bezos,
Twitter founder Evan Williams and
Google Chairman Eric Schmidt.
“Our platform is something of a
blend between Xbox, virtual reality
and Facebook, and is designed to
arm students with the skill-sets to
make smart decisions about their
finances,” said Tom Davidson, EverFi
For a full list of TBA’s endorsed
products and services, visit
www.texasbankers.com/tbasco
30
CEO. “If we succeed,
we can quite literally
change the trajectory
of the lives of millions
of students. It’s important that we do.”
EverFi’s unique
model brings banking leaders into the
education innovation movement by
enabling them to license and privatelabel the EverFi learning platform in
local schools. EverFi sits in the background. These are your programs,
your technology, your brand and your
education results in the communities
that are important to you.
To learn more about bringing the
benefits of the EverFi financial literacy platform to your community,
contact Tyhler Raye, senior vice
president of Business Development,
at 202-625-0011 ext. 353 or
[email protected] or visit
www.everfi.com/sponsors.
ND
D
TEXAS
B
E
KERS ASSO
AN
TION
CIA
No Bull.
All Business.
LOOK FOR
THE LOGO
ORSE
Endorsement is granted by an eight-member TBASCO
Board of Directors after thorough evaluation of the
products or services, as well as the provider’s corporate
structure, operations, financial strength, industry stability
and other factors.
Vetted and endorsed by the TBASCO Board of Directors
ANOVA Financial Corporation
High Yield Liquid Deposit Insurance, Wholesale & Treasury Services
Burkholder Corporation
Group Health, Life, Dental, Vision, Long Term Care,
Long & Short Term Disability
CSI Managed Services
Technology Management
Equias Alliance
EverFi, Inc.
Federal Home Loan Bank of Dallas
Executive Benefit & BOLI Consulting
Web-based Financial Literacy Programs
Letters of Credit; MPF Xtra program
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
Harland Clarke
Marketing Services, Strategy, Analytics, Creative & Production;
Print & Electronic Statements; Survey Services
[email protected]
Harland Clarke
Personal and Business Check Products & Accessories
[email protected]
Insperity
Business Performance Solutions
[email protected]
Investment Professionals, Inc. (IPI)
Non-Deposit Retail Investment Programs
[email protected]
JB Lloyd & Associates, LLC
Lender-Placed Hazard & Flood and
Mortgage Impairment/Errors & Omissions
[email protected]
Pentegra Retirement Services
Promontory Interfinancial Network, LLC
Q2
Employee & Customer Retirement Plans
Certificate of Deposit Account Registry Services (CDARS)
Online, Voice and Mobile Banking
Senior Housing Crime Prevention Foundation
Staples Advantage
TIB Capital Markets
Vantiv
VINtek, Inc.
Wolters Kluwer Financial Services
Zero-In Media
Nursing & Veteran Home CRA Program/Loans & Investments
Bank, Office, Janitorial & Breakroom Supplies;
Printing & Promotional Products; Furniture
Investment Consultation & Sales,
Treasury Management, Risk Management
Merchant Services;
Credit and Debit Cards; Prepaid Cards
Electronic Lien and Title Processing
Compliance Forms and Software
Lobby & Outdoor Digital Signage, Kiosks and
On-Hold Messaging & Music
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
For more information about the products or services offered by these endorsed partners, please contact Wanda Stevens at 512-472-8388 or [email protected]
TBASCO provides this information as a service to the member banks of the Texas Bankers Association. TBASCO promotes those products and services that it believes to merit consideration by TBA member banks.
However, its endorsement is not intended as, and should not be construed as a guarantee of any product or service. The appropriateness of a particular product or service may vary from bank to bank.
t
h
g
i
l
t
Spo
COMMUNITY BANKER
Officiating
the industry
Ford Sasser, President and CEO, Rio Bank, McAllen
rowing up working at his father’s
tractor dealership in San Antonio,
Ford Sasser, president and CEO of
Rio Bank in McAllen, had dreams of becoming a high school football coach.
An athlete himself, Sasser set off to Texas
A&M University to major in physical education, and, although not on scholarship, he
worked out with the football team. He only
played one night, against Baylor University,
but it was a game he would never forget.
“Although I loved the game, I became disenchanted with my PE classes early on
because they were teaching me how to teach
others and develop lesson plans, when all I
was really interested in were Xs and Os on a
chalkboard,” says Sasser. “So I decided to stop
focusing on athletics and changed my major
to agricultural economics, what my father
majored in at A&M.”
G
“Lots of
customers just like
to come in and
bounce ideas off
of us. They aren’t
always asking for
a loan, but for our
professional
opinion.”
Banking playbook
With graduation approaching, Sasser looked
to the banking industry for a job. His family
had moved to Uvalde and his father did business with a local banker, Charles Spangler, so
Sasser reached out to set up an interview.
“When I told Spangler I was hoping to
come work for him, he said that I should
start as a bank examiner instead and gave
me the contact information of Bill Alderidge,
an examiner at the Texas Department of
Banking,” says Sasser. “Frankly, I didn’t feel
like the interview went very well, and I
didn’t hear back, so I accepted a job with the
old NBC Bank in San Antonio in their officer
training program.”
Lo and behold, a week before he was to
start at NBC Bank, Sasser received a phone
call from Alderidge, who asked him if he was
still interested in being a bank examiner. “He
told me to get myself to Austin and that they
had a bank for me to examine on Monday.”
During his four years as a bank examiner,
Sasser lived in Austin, Odessa, Amarillo,
Dallas, Longview and McAllen. After a year
in McAllen, he entered the banking side of
the industry, moving to Beeville to work at
Commerce National Bank. Six years later, in
1986, one of the banks he used to examine in
McAllen called and asked if he would be
interested in moving back, so he returned to
the Valley.
“In 1999, I got a chance to buy a significant ownership interest in what was then Rio
National Bank with a group of a few others,”
says Sasser. “It was a $30 million bank, with
some major problems, so we got the bank
recapitalized, and 14 years later, we are up to
$220 million in assets. Today, we have a
state-chartered bank known as Rio Bank.”
Banking on the Rio
Ford Sasser, wife Abbie and daughters Emily and Amanda.
32
Rio Bank is located in communities along the
Mexican border in deep South Texas, with
many of the bank’s customers hailing from
Mexico. “We have a different culture than the
rest of the state,” says Sasser. “I jokingly tell
people we are just north of Mexico and just
south of the U.S.”
Although the bank has expanded from the
two original locations to eight, it is still very
much a community bank. The bank
is more heavily concentrated on the
commercial side, but it does have
retail customers.
“For a mom and pop business, we
provide more value than bigger
banks,” says Sasser. “Lots of customers just like to come in and
bounce ideas off of us. They aren’t
always asking for a loan, but for our
professional opinion.”
Although the bank has taken
great strides over the years, the regulatory burden makes banking
difficult for community bankers.
Sasser reports that the bank isn’t
able to provide some of the services
it used to, such as in the area of
home loans.
“The regulations are set up with
the assumption that everybody
works for somebody and has a W-2
and a 700 credit score or better,”
says Sasser. “In the real world, sometimes people have multiple incomes
and don’t fit into the box.”
“My customers come in and don’t
understand the paperwork they are
filling out to open a checking
account, and I tell them the government doesn’t think they are smart
enough to come in and do this without being protected from someone
like me,” he says. “I find it insulting
that they say I’m dishonest, and customers are offended that they are
assumed to be stupid.”
However, Sasser believes there
will always be a place for community
banks in our country if Washington
doesn’t run them out. “I tell customers that there are things that
those big banks can do for you that I
can’t do for you because of my size,
but there are things that I can do for
you that they can’t because of my
size,” he says.
Rio Bank encourages employees to
be involved in the community,
whether it’s with Rotary Clubs, local
nonprofits or serving on city government boards. Sasser sets a positive
example for his employees, serving his
community in numerous capacities.
He is currently chairman of the Board
of Directors of the McAllen Economic
Development Corp., and previously
served two terms as a member of the
Board of Directors of TBA.
Who is your hero?
I have many heroes in my life –
heroes at my work that inspire
me, heroes in my home that
encourage me, heroes that are
friends who set good examples
for me. I’ve been blessed to be
surrounded by heroes all my life
who have molded my character.
What is your favorite book?
Of course my answer is the
book I recently wrote and was
published called, “Why Would
Anyone Officiate Football?”
Sasser prepares to officiate an arena football
game.
Perhaps, most notably, Sasser was
recently appointed to serve a threeyear term as one of the public
members of the State Bar of Texas.
The appointment came by virtue of
an order of the Supreme Court of
Texas upon a recommendation by
Gov. Rick Perry.
Life outside of banking
Sasser and his wife, Abbie, have two
daughters, Amanda and Emily.
Amanda is finishing up her master’s
degree, and Emily works at Rio
Bank with her father.
In his spare time, Sasser can be
found participating in his hobby of
22 years, officiating football games.
In fact, he released a book this
summer about his football officiating
called, “Why Would Anyone Officiate
Football?” The book explains why he
became an official, tells humorous
stories and outlines what officials do
to prepare for their jobs on the football field.
“My wife isn’t a big football fan,
but she would listen to my stories
and suggested I consider writing a
book,” says Sasser. He reached out to
people in the community to help
with the endeavor, including a
retired English professor who
reviewed it and a local author who
connected him to a publisher. Within
three days of submitting his manuscript, he received a response that it
was accepted, and the rest is history.
“It’s been fun and has given me a
chance to tell my story,” says Sasser.
“I still love the game, so if I can’t
coach and I’m too old to play, the
next best thing is to officiate it!”
What is your favorite movie?
Any movie that makes me feel
good when I am watching. I
always enjoy watching the
movie “Shenandoah” with
Jimmy Stewart.
Who was your favorite
president?
Ronald Reagan. Our country
needs another Ronald Reagan
now. He knew how to make you
feel proud to be an American,
and he was a leader.
What is your favorite sports team?
Being an Aggie, any Texas A&M
University team that’s competing.
What is your favorite quote?
“It is not the critic who counts;
not the man who points out how
the strong man stumbles, or
where the doer of deeds could
have done them better. The
credit belongs to the man who
is actually in the arena, whose
face is marred by dust and
sweat and blood; who strives
valiantly: who errs, who comes
short again and again, because
there is no effort without error
and shortcoming; but who does
actually strive to do the deeds;
who knows great enthusiasms,
the great devotions; who spends
himself in a worthy cause; who
at the best knows in the end the
triumph of high achievement,
and who at the worst, if he fails,
at least fails while daring greatly,
so that his place shall never be
with those cold and timid souls
who neither know victory nor
defeat.” — Theodore Roosevelt
33
BANKER TO BANKER
Austin hosts
a RIOT
By Donny Palmer, TBA Member Relations Officer
ustin recently hosted the first
Conference of the Robbery
Investigators of Texas (RIOT) with a
three-day series of meetings at the downtown
Omni Hotel. More than 175 state, federal and
local law enforcement officers heard excellent
presentations from some of the most knowledgeable and respected investigators in the
nation. TBA joined several banks and private
security professionals to sponsor the program.
The intense program covered many areas
of interest to investigators, including, but not
limited to:
• Statement and threat analysis
• Embezzlement investigations
• Robbery training — what to do before,
during and after a robbery
• Case studies
• Workplace violence
• Roles and responsibilities of the corporate
security officer
• Environmental risk assessment
• Bandit Shield initiative
RIOT is the brainchild of Round Rock
Police Detective Shawn Scott, FBI Special
Agent Dennis May and Texas Ranger Matt
Lindeman. Scott, the president of RIOT, is on
loan to the FBI, and partners with May on
the Central Texas Violent Crimes Task Force.
In addition to working robbery cases, the
Task Force provides bank robbery training
for financial institutions in the region.
The main reason RIOT was formed was to
provide an outlet for information sharing
regarding robberies and violent crimes in
Central Texas. Members are able to log onto
the RIOT website and review activities in
specific categories, such as banks, jewelry
stores, armored cars, retail and pharmacies.
Participants can quickly download pertinent
A
“Maps, incident
data and
regional/national
information filters
allow a wide
range of
research
opportunities.
I urge bank
security and
corporate
security officers
to visit the RIOT
website and
consider
becoming a
member.”
Welcome new member
TBA is proud to welcome this
new member to our Texas Banking family:
Stockmans Bank
Mark Holder, Texas CEO
15455 Dallas Parkway, Suite 960
Addison, TX 75001-9673
Phone: 972-386-9950
www.stockmansbankok.com
Represented at the RIOT Conference are, left to right,
Austin Police Chief Art Acevedo, FBI Special Agent Dennis
May, FBI Special Agent in Charge of the San Antonio
Division Armando Fernandez, Round Rock Police Detective
and FBI Task Force Officer/ RIOT President Shawn Scott,
Round Rock Assistant Police Chief Troy Evans and Major
Frank Malinak of Texas Rangers Company F.
information regarding the event, including
physical descriptions, photos and a narrative
of the circumstances that can be used to
match similar crimes to allow law enforcement to collaborate to solve crimes.
RIOT makes the information accessible
via a mobile application so officers can conduct research in the field. Maps, incident
data and regional/national information filters
allow a wide range of research opportunities.
I urge bank security and corporate security
officers to visit the RIOT website and consider becoming a member.
Another useful tool that RIOT promotes is
the Bandit Shield Crime Initiative, which was
created in 2012 by the San Antonio Division of
the FBI. Bandit Shield is a cooperative program in which financial institutions adopt best
practices and other security measures developed to deter robberies. Institutions completing
the training post Bandit Shield door decals to
warn would-be robbers that the institutions
have taken special measures to prevent crimes.
The inaugural conference was a huge success, and plans for the 2014 Conference, which
is tentatively scheduled for Austin, are already
underway. If you have questions about RIOT
or Bandit Shield or wish to arrange robbery
training for your institution, please contact
Shawn Scott at 512-569-0465 or email him at
[email protected]. You may also become a
member of RIOT by accessing its website at
www.robberyinvestigatorsoftexas.org.
[email protected]
34
YOUR ADVOCATE
The financial crisis
five years later
By John Heasley, TBA General Counsel
“No longer can
an institution
operate like
Lehman did five
years ago with
$30 of debt for
every dollar of
cash on hand.”
36
he collapse of Lehman Brothers in
September 2008 brought about the
biggest economic downturn since the
1930s. Hundreds of billions of dollars were
spent on GSEs, TARP infusions and subsequent assistance by the Federal Reserve. In
July 2010, the Dodd-Frank Act became law.
Has our dysfunctional financial system
changed much since then? Daniel Gross
argues in a recent Newsweek article that
while Wall Street banks “remain arrogant,
highly leveraged, largely unrepentant and
prone to violating regulations” they have
begun to act more responsibly. Debt in the
financial sector has gone down significantly.
No longer can an institution operate like
Lehman did five years ago with $30 of debt
for every dollar of cash on hand. Some of the
demands for increased capital and lessening
of debt came from federal regulators, some
from Dodd-Frank.
According to the Federal Reserve, in 2008
financial sector debt was $17.1 trillion. In
2013, it is now $13.9 trillion, 19 percent less.
Expect less leveraging with the recent proposal requiring systemically important entities
to have a leverage capital ratio of 5 percent for
FDIC-insured subsidiaries and 6 percent for
other subs.
One of the undesired outcomes of the crisis
has been consolidation. The five largest banks
and broker dealers constituted 46 percent of
GDP in 2007 and now are over 54 percent of
GDP. There were 8,534 banks in 2007. There
are now 6,940, a drop of 20 percent. The crisis
caused 450 bank failures. The remaining
losses are due to mergers and acquisitions.
T
The household sector of the economy has
also reduced debt. This was inevitable when
you consider that hundreds of thousands of
homes were purchased in 2006 and 2007 on
which no payments were made and billions
in credit card debts were written off. The
credit card companies wrote off more than
$83 billion. Households are now managing
their debt better. The credit card delinquency
rate is the lowest it has been since 1990.
What happened to the $700 billion in
TARP funds authorized by Congress in
September 2008? Former Treasury Secretary
Hank Paulson told Business Week that he
continues to believe the program was a success. The $700 billion was paid back with an
additional $32 billion for the Treasury.
Richard Kovacevich, former head of Wells
Fargo, begs to differ. On Sept. 13, he told
CNBC that he did not want TARP funds and
that TARP caused the crisis to become “much
greater.” He noted that the stock market fell
by 40 percent after TARP passed and that
“the banking industry stocks fell by 80 percent. How can anyone say that TARP
increased the confidence level of an industry,
when its stock market valuation fell by 80
percent?” Most observers and economists
agree with Paulson.
What about “Too Big To Fail”? The TBA
Board of Directors met at the Dallas Fed
Sept. 5 and heard from Fed President
Richard Fisher. He quoted a recent New
York Times editorial about a large Wall
Street bank’s troubles: “The underlying
problem is not only this or that violation,
but the fact that the sheer size and scope
and complexity of the banking behemoths
defy controls, encouraging speculation and
bad behavior.”
Fisher added that the behemoths were
also undermining free-market capitalism and
nearly bankrupting the United States. A
Federal Reserve Bank of Dallas study of the
2007 to 2009 crisis estimates the cost in the
range of $15 trillion to $30 trillion. That
would be between $50,000 and $120,000 per
American household. Fisher believes that the
Dodd-Frank Act entrenches TBTF while at
the same time burdening community and
regional banks with its complexity.
Diebold ATM security.
Not like a security guard, like a security army.
With losses at $1 billion a year, threats to ATM security are increasing and alarming. It’s why
Diebold is relentlessly proactive with an entire team dedicated to keeping its customers
safe. From ATM security alert e-mails and ATM educational seminars to developing security
solutions that combat sophisticated attacks, Diebold delivers a multilayered security
approach. It’s another example of Diebold doing more to build the relationships that have
inspired us to become security leaders and innovators for more than 150 years.
For the entire story, visit www.diebold.com/boldsecurity.
1.800.806.6827 www.diebold.com [email protected]
COMPLIANCE HOTLINE
Complying with the
new remittance rule
By Jennifer Kirby, Compliance Specialist, Compliance Alliance
“Remittance
transfer providers
include any
person who
provides
remittance
transfers in the
‘normal course
of business.’”
he remittance rule goes into effect
Oct. 28. Does the rule apply to your
bank?
Do you offer consumers a way to send
money abroad? Are the transfers you provide
remittance transfers? Are you a remittance
transfer provider? If the answer to any of
these questions is “no,” then you don’t have to
worry about complying with the rule. If the
answer to all of these questions is “yes,” you
will need to understand and comply with the
remittance rule.
Are the transfers you provide remittance
transfers? Remittance transfers are electronic
transfers of funds that are more than $15
requested by consumers in the United States
and sent to persons or businesses in foreign
countries. These transfers include many types
of international transfers, including cash-tocash money transfers, international wire
transfers, international ACH transactions and
certain prepaid card transfers.
To qualify as a remittance transfer, the
transfer must be sent by a remittance transfer
provider. Also, the rule applies whether or not
a consumer in the United States who requests
a remittance transfer provider to send a
remittance transfer holds an account and
whether or not the transfer is an electronic
fund transfer as defined in Regulation E.
Transactions that are covered include
consumer-to-consumer transfers and consumer-to-business transfers. Transfers can be
closed-network transfers (e.g., consumer
T
So far in 2013, Scott Daugherty and
staff have responded to more than
4,200 hotline calls. Call Scott to get
those compliance questions
answered with confidence.
38
transfers sent through a money transmitter,
including transfers funded by cash) or opennetwork transfers (e.g., consumer-initiated
international wire transfers).
Business-to-consumer transfers and business-to-business transfers are not covered.
Furthermore, the following transactions are not
covered: a consumer providing a debit, credit or
prepaid card directly to a foreign merchant as
payment for goods or services; consumers providing checking account numbers directly to
foreign merchants; a merchant-initiated ACH
payment request to a consumer’s bank; transfers of $15 or less; and certain transfers in
connection with purchase/sale of securities.
Are you a remittance transfer provider?
Remittance transfer providers include any
person who provides remittance transfers in
the “normal course of business.” The rule provides a safe harbor to determine whether you
provide remittance transfers in the “normal
course of business.”
If you provided 100 or fewer remittance
transfers in the previous calendar year, and
you have provided 100 or fewer remittance
transfers in the current calendar year, then
you will not be considered to be providing
remittance transfers in the normal course of
your business.
All departments that may initiate remittance transfers need to be reviewed as a
whole. Departments that may be considered
include retail, high-net worth, commercial
divisions, prepaid or payroll card services,
brokerage, etc.
When counting to 100, you need to count
all types of remittance transfers covered by
the rule together. If you sent 60 international
wire transfers and 50 international ACH
transactions last year, then you provided more
than 100 remittance transfers last year. If you
were eligible for the safe harbor but then
exceed it in a given year, you have up to six
months to come into compliance with the rule.
If you are a remittance transfer provider,
the next steps are to understand your obligations under the rule. At Compliance Alliance
our goal is to provide our members with what
they need to understand and comply with the
new rules. Please give us a call; we would be
more than happy to discuss this with you.
Navigate the
rules and regulations
with ease!
, Inc.
Compliance tools and resources
to ensure your bank experiences
smooth sailings ahead.
• More than 500 documents
• Hotline by phone, email
and live chat
• Reviews and more!
888-353-3933
www.compliancealliance.com • [email protected]
BANK PEOPLE
Bill McAnally
The Pecos County
State Bank
Fort Stockton
Chris Bezdek
CommunityBank of
Texas
Houston
Gary S. Englert
CommunityBank of
Texas
Houston
Stan Grisham
CommunityBank of
Texas
Houston
Bryan Robinson
Texas Bank and
Trust Company
Longview
Fort Stockton
The Pecos County State Bank
Bill McAnally to vice president.
Houston
CommunityBank of Texas
Chris Bezdek, Gary S. Englert and
Stan Grisham to executive vice presidents-market CEOs.
Post Oak Bank
Karen Templeton to senior vice president in loan operations. Peter Huber
to technology systems officer.
Longview
Texas Bank and Trust Company
Bryan Robinson to senior vice president and mortgage origination
manager.
McKinney
Valliance Bank
Robert Gottlich to senior vice president of commercial lending.
Robert Gottlich
Valliance Bank
McKinney
Announce
your employee
promotions
and new
hires here.
Doug Dobbins
First Financial
Bank, N.A.
Stephenville
Andrew Ozuna
Broadway Bank
San Antonio
Stephenville
First Financial Bank, N.A.
Doug Dobbins to senior vice president and loan officer.
Diana C. Garcia
Broadway Bank
San Antonio
Give your
employees credit
for their hard work.
Your source for Texas banking publications
TBA online publications
• Texas Home Equity Lending Guide
San Antonio
Broadway Bank
Andrew Ozuna to commercial real
estate lender and senior vice president
in the Commercial Real Estate Group.
Diana C. Garcia to marketing communications services specialist.
• Texas Secured Lending Guide
• Texas Real Estate Lending Guide
• Texas Account Documentation Manual
• Texas Credit Law Guide
• Texas Problem Loan Guide
• Texas Guide to Record Retention
www.thebankstore.com
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3KDVH,,,(QYLURQPHQWDO6LWH$VVHVVPHQWV$VEHVWRV/HDG0ROG&RPSOLDQFH$XGLWV6WRUPZDWHU&RPSOLDQFH3URSHUW\&RQGLWLRQ5HSRUWV
3KDVH(QJLQHHULQJ¶V3KDVH,UHSRUWVFRPSO\ZLWKWKH(3$¶VHQYLURQPHQWDOVLWHDVVHVVPHQWUHTXLUHPHQWV
/HQGHU$SSURYHG/LFHQVHG&HUWL¿HG
)RUGHWDLOVRQKRZWKLVFRXOGDIIHFW\RXUWUDQVDFWLRQSOHDVHFDOORUHPDLOXV7RUHTXHVWDSURSRVDOYLVLWZZZH]HVDFRP
_ZZZ3KDVH(QJLQHHULQJFRP_0HODQLH#3KDVH(QJLQHHULQJFRP
40
CLASSIFIEDS
If you would like to place a positionwanted or available ad or an ad to sell
or buy new and used bank equipment,
call 800-336-1120 ext. 7053, fax 913261-7010 or e-mail kwagner@
banknews.com. The costs for classified
ads are $50 for the first 30 words, and
$10 for each additional 10 words.
Blind box ads are $20 extra. As a
bonus, all ads will also appear for
two months on the BankNews
website (www.BankNews.com).
Deadline is the 1st of the month prior
to the issue.
MODULAR BANK BUILDINGS —
Looking to branch? Opening a new
charter? Disaster planning? Need a
temporary while remodeling?
Temporary/permanent modular bank
buildings new and used. North
American Buildings, 888-800-8866,
www.NorthAmericanBuildings.com.
city, and the ability to make notes,
highlight entries and bookmark
pages. To purchase, go to
http://Bankers-eStore.com.
COMING SOON — 2013 Fall
Texas Banking Red Book ($50 plus
S&H) with June 30, 2013, financial
data. To order, call 800-336-1120,
ext. 7053 or order at
www.TexasRedBookOnline.com.
ONLINE RED BOOK NOW
AVAILABLE — Texas Banking Red
Book Online brings you all the information from the print version, plus
the interactive benefits of online,
including searchability by individual
name, financial institution, primary
and branch locations, or asset size.
Plus, information is updated
throughout the year — adding the
most current information available
to the convenience and flexibility of
the Web. For more information, go to
www.TexasRedBookOnline.com.
Texas Banking eBook — The
Texas Banking eBook is readable on
iPhone/iPad and all other smartphones and tablets with eBook/ePub
capability. The eBook contains the
same information as the Red Book
print edition, plus special interactive
features such as phone and website
links, searchability by banks and
Send your employee promotions and new hires to [email protected].
Index to Advertisers
For information on advertising in Texas Banking magazine, please contact Scott Englert at [email protected]
Company Name
Phone
Website
Page
Baker Donelson
901-526-2000
www.BakerDonelson.com
19
BKD, LLP
800-783-8515
www.bkd.com
10
Briggs and Veselka
713-353-1941
www.bvccpa.com
22
Commerce Street Capital, LLC
214-545-6800
www.commercestreetcapial.com
27
Compliance Alliance
888-353-3933
www.compliancealliance.com
39
Computer Services, Inc.
800-545-4274
www.csiweb.com
44
Diebold
800-806-6827
www.diebold.com
37
202-625-0011 ext. 353
www.everfi.com
29
J.B. Lloyd & Associates
800-964-0360
www.lloyd-ins.com
26
Kansas Bankers Surety
785-228-0000
Pentegra Retirement Services
800-872-3473
www.pentegra.com
3
Phase Engineering, Inc.
800-419-8881
www.phaseengineering.com
40
866-776-6426 ext. 3432
www.promnetwork.com
2
Pulse Network
800-420-2122
www.pulsenetwork.com/pdd-txb
43
Q2
512-275-0072
www.Q2ebanking.com
25
Texas Bankers Insurance Agency
800-318-4142
www.texasbankers.com/insurance
7
TIB Capital Markets
800-374-4842
www.mybankersbank.com
21
Veillon Business Consulting
225-384-0760
www.veillonbusinessconsulting.com
24
VINTek
215-599-2435
www.vintek.com
20
EverFi
Promontory Interfinancial Network
35
41
BANKING BYTES
50 years ago this month:
From the Texas Bankers Record, October
1963
Texas bankers mingle with
future president and first lady
The Vice President of the United
States and Mrs. Johnson gave a
reception at their home, 4040 52nd
Street, N.W., Washington, D.C., the
afternoon of Monday, October 7th,
to all Texas bankers and members
of their families in attendance at
the A.B.A. Convention. Attending
the reception were Texans in three
groups, staggered from four to
seven o’clock. The weather was
perfect and the home of the Vice
President and Mrs. Johnson was a
superb locale for delightful social
mingling. The domicile, formerly
made famous by Mrs. Pearl Mesta,
hostess of many famous parties,
was of particular interest to ladies
of the Texas group. They delighted
in the magnificence of the home,
the furnishings, the swimming
pool and the landscaping.
“Why can’t the top two officials at
CFPB answer this simple question: How much data is CFPB
collecting and from how many
individual consumers?”
—Tweet from U.S. Rep. Jeb Hensarling,
chairman of the House Committee on
Financial Services.
“We chose Houston eight years
ago as a base for our U.S. operations because like BBVA, it’s
hardworking, fast growing and
global. A city of the future.”
—BBVA Group Chairman and CEO
Francisco Gonzalez, in an American Banker
article.
42
STATEMENT OF OWNERSHIP
STATEMENT OF OWNERSHIP, MANAGEMENT, AND CIRCULATION (Requester Publications
Only) 1. Publication Title: Texas Banking. 2. Publication Number: 0885-6907. 3. Filing Date:
Sept. 24, 2013. 4. Issue Frequency: Monthly. 5. Number of Issues Published Annually: 12. 6.
Annual Subscription Price: $20/$48/$96. 7. Complete Mailing Address of Known Office of Publication: 203 W. 10th St., Austin, Travis County, TX 78701-2388. Contact Person: Olivia Solis.
Telephone: 512-472-8388. 8. Complete Mailing Address of Headquarters or General Business
Office of Publisher: 203 W. 10th St., Austin, Travis County, TX 78701-2388. 9. Full Names and
Complete Mailing Addresses of Publisher, Editor, and Managing Editor. Publisher: Eric Sandberg, 203 W. 10th St., Austin, TX 78701- 2388. Editor: Olivia Carmichael Solis, 203 W. 10th St.,
Austin, TX 78701-2388. Managing Editor: none. 10. Owner: Texas Bankers Association, 203 W.
10th St., Austin, TX 78701- 2388. 11. Known Bondholders, Mortgagees, and Other Security
Holders Owning or Holding 1 Percent or More of Total Amount of Bonds, Mortgages, or Other
Securities: None. 13. Publication: Texas Banking. 14. Issue Date for Circulation Data: October
2013. 15. Extent and Nature of Circulation: Members of the Texas Bankers Association. A.
Total Number of Copies (Net press run): Average No. Copies Each Issue During Preceding 12
months: 7,610; No. Copies of Single Issue Published Nearest to Filing Date: 7,595; B. Legitimate Paid and/or Requested Distribution (By Mail and Outside the Mail) (1) Individual Paid/Requested Mail Subscriptions Stated on PS Form 3541. (Include direct written request from
recipient, telemarketing and Internet requests from recipient, paid subscriptions including
nominal rate subscriptions, employer requests, advertiser’s proof copies, and exchange
copies): Average No. Copies Each Issue During Preceding 12 Months: 7,455; No. Copies of
Single Issue Published Nearest to Filing Date: 7,445. (2) In-County Paid/Requested Mail Subscriptions stated on PS Form 3541. (Include direct written request from recipient, telemarketing, and Internet requests from recipient, paid subscriptions including nominal rate
subscriptions, employer requests, advertiser’s proof copies, and exchange copies: Average
No. Copies Each Issue During Preceding 12 months: 0; No. Copies of Single Issue Published
Nearest to Filing Date: 0; (3) Sales Through Dealers and Carriers, Street Vendors, Counter
Sales, and other Paid or Requested Distribution Outside USPS: Average No. Copies Each
Issue During Preceding 12 months: 0; Copies of Single Issue Published Nearest to Filing Date:
0. (4) Requested Copies Distributed by Other Mail Classes Through the USPS (e.g. First-Class
Mail): Average No. Copies Each Issue During Preceding 12 Months: 0; No. Copies of Single
Issue Published Nearest to filing date: 0. C. Total Paid and/or Requested Circulation (Sum of
15b (1), (2), (3), and (4): Average No. Copies Each Issue During Preceding 12 Months: 7,455;
No. Copies of Single Issue Published Nearest to Filing Date: 7,445. D. Nonrequested Distribution (By Mail and Outside the Mail. (1). Outside County Nonrequested Copies Stated on PS
Form 3541 (include Sample copies, Requests Over 3 years old, Requests induced by a Premium, Bulk Sales and Requests including Association Requests, Names obtained from Business Directories, Lists, and other sources): Average No. Copies Each Issue During Preceding
12 months: 0; No. Copies of Single Issue Published Nearest to Filing Date: 0. (2). In-County
Nonrequested Copies Stated on PS Form 3541 (include Sample copies, Requests Over 3
years old, Requests induced by a Premium, Bulk Sales and Requests including Association
Requests, Names obtained from Business Directories, Lists, and other sources): Average No.
Copies Each Issue During Preceding 12 Months: 0; No. Copies of Single Issue Published
Nearest to Filing Date: 0. (3). Nonrequested Copies Distributed Through the USPS by Other
Classes of Mail (e.g. ,First-Class Mail, Nonrequester Copies mailed in excess of 10% Limit
mailed at Standard Mail or Package Services Rates); Average No. Copies Each Issue During
Preceding 12 Months: 32; No. Copies of Single Issue Published Nearest to Filing Date: 20. (4)
Nonrequested Copies Distributed Outside the Mail (include Pickup Stands, Trade Shows,
Showrooms and Other Sources): Average No. Copies Each Issue During Preceding 12
Months: 61; No. Copies of Single Issue Published Nearest to Filing Date: 50. E. Total Nonrequested Distribution (Sum of 15d (1), (2), (3) and (4)): Average No. Copies Each Issue During
Preceding 12 months: 93; No. Copies of Single Issue Published Nearest to Filing Date: 70. F.
Total Distribution (Sum of 15c and e): Average No. Copies Each Issue During Preceding 12
months: 7,548; No. Copies of Single Issue Published Nearest to Filing Date: 7,515. G. Copies
Not Distributed: Average No. Copies Each Issue During Preceding 12 months: 62; No. Copies
of Single Issue Published Nearest to Filing Date: 80. H. Total (Sum of 15f and g): Average No.
Copies Each Issue During Preceding 12 months: 7,610; No. Copies of Single Issue Published
Nearest to Filing Date: 7,595. I. Percent Paid and/or Requested Circulation (15c divided by f
times 100): Average No. Copies Each Issue During Preceding 12 months: 99%; No. Copies of
Single Issue Published Nearest to Filing Date: 99%. 16. Total circulation includes electronic
copies. Report circulation on PS Form 3526-x worksheet. 17. Publication of Statement of Ownership for a Requester Publication is required and will be printed in the October 2013 issue of
this publication. 18. Signature and Title of Editor, Publisher, Business Manager, or owner. I certify that all the information furnished on this form is true and complete. I understand that anyone who furnishes false or misleading information on this form or who omits material or
information requested on the form may be subject to criminal sanctions (including fines and
imprisonment) and/or civil sanctions (including civil penalties). Olivia Carmichael Solis, Editor.
Date; Sept. 24, 2013.
Bottom Line
“It’s the power of information
at my fingertips – right now.”
©2013 PULSE
At PULSE, we are committed to delivering products and services that help our
network participants maximize the value of debit. That commitment is reflected in
the PULSE Debit Dashboard®, an analytics reporting tool that delivers easy access
to timely information through a unique, intuitive web interface. Ben Benack sees
the value this information brings to his organization, “When every department
is engaged with reviewing and dissecting insightful data, that’s good for Dollar
Bank’s customers, and for our bottom line. It’s refreshing to work with a partner
like PULSE that cares enough to be completely accessible.”
To learn how the PULSE Debit Dashboard can enable your financial institution to
implement, analyze and react to relevant insight, and to watch Mr. Benack’s interview,
go to: pulsenetwork.com/pdd-txb

October 2013 - Pentegra Retirement Services

Transcription

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