Peoples Bank Grows to Serve the Community . . . 4 S .798 Proposes

Transcription

Volume 13, No. 3
May/June 2013
Contents
Filling a Niche: Peoples Bank Grows to Serve the Community . . . . 4
S.798 Proposes TBTF Solutions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Q and A: Catching up with Terry Burrington,
Financial Marketing Corp.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Three Keys to Understanding Your Role as a
Community Bank Director. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
‘Best in Class’ Boards: How Directors Help Their Banks Succeed. 20
Bottom Line
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— BOARD OF DIRECTORS —
Paul Hoffmann, Monona State Bank
2012-2013 Chairman
Stan Leedle, Choice Bank, Oshkosh
Chairman Elect
Jerry O’Connor, The First National Bank of Waupun
Vice Chairman
Jim Tubbs, State Bank of Cross Plains
Past Chairman
Steve Bell, Community State Bank, Union Grove
Secretary/Treasurer
Rick Busch, Royal Bank, Gays Mills
ICBA Director
John Slatky, Bank of Luxemburg
ICBA Director
— REGIONAL DIRECTORS —
— Northwest District —
Paul Kohler, Charter Bank, Eau Claire
Tom Armstrong, First National Bank, Park Falls
— Northeast District —
Fred Siemers, River Cities Bank, Wisconsin Rapids
Marty Reinhart, Heritage Bank, Marshfield
— Southwest District —
Steve Zeman, Union State Bank, West Salem
Mary Bomkamp, Highland State Bank
— Southeast District—
Bill McDonald, Greenwoods State Bank, Lake Mills
Dennis Doyle, Great Midwest Bank, Brookfield
Thomas Oehler, Peoples Bank, Elkhorn
— CBW STAFF —
Daryll Lund
President and CEO
Rick McGuigan
Executive Vice President
Sandra Gruber
Director of Member Services and Information Management
Shannon Schlueter
Director of Member Relations and Public Affairs
Jami Erickson
Director of Member Programs and Association Administration
Community Bankers of Wisconsin
455 S. Junction Rd., Ste. 101
Madison, WI 53719
Ph: 608.833.4229 Fax: 608.833.8114
E-mail: [email protected]
Published by Community Bankers of Wisconsin
through Client Communications
Doris Green, Editor and Publisher
Mary Lou Santovec, Contributor
Lisa Imhoff, Grey Horse Studio, Art Director
Editorial or subscriptions: e-mail Doris Green at
[email protected] or fax 608.583.2084
Advertising: Jami Erickson, Director of Member Programs and
Association Administration, at 608.833.2386
or contact Doris Green
Wisconsin Community Banking News is provided at no cost to
CBW members. The current and past issues are available on the
CBW Web site: www.communitybankers.org.
Community Banking’s Triple A
Rating
Paul Hoffmann, CBW Chairman and
President and CEO, Monona State
Bank
W
hen it comes to Advocacy,
Accessibility, and Acts of
kindness, we have a Triple A rating.
There is no industry more recognized
for community advocacy, customer
accessibility, or community service.
I had the opportunity to attend
ICBA’s annual Washington Policy Summit in D.C. this spring and experienced
firsthand the energy and excitement surrounding community banking’s successful advocacy efforts. Our public leaders
are hearing our messages. With such significant upcoming national legislation as
the Terminating Bailouts for Taxpayer
Fairness Act (S.798), it’s imperative that
we continue to speak up on behalf of our
local independent banks and our communities. We also need to communicate
often with our state leaders and encourage interchanges and visits with elected
officials at all levels of government.
Besides being noted for our positive advocacy, our community banking industry is noted for its accessibility
and transparency. If an elected official or
a reporter or a customer has a question,
we pick up the phone, e-mail, or respond
in person with an honest answer. I’m
proud to belong to an industry that
really listens to people’s comments and
questions, and that is accessible to their
needs. Whether it’s ATM Access or other
products and services designed specifi-
On our cover ...
River Cities
Bank recently opened a new branch at
110 Linn St. in Baraboo on the site of the
original Culver’s Restaurant. The bank’s
original Baraboo branch was located
at 507 Linn St. Friede & Associates of
Reedsburg was the general contractor
while ADCI of Lake Delton was the
architect. River Cities Bank is headquartered in Wisconsin Rapids and has a
branch in Stevens Point along with the
one in Baraboo.
cally for our customers, our community banks routinely and respectfully
welcome feedback
of all kinds.
Since our community banks are
extensions of our
communities,
they also routinely
invest in community building projects, support scholarships, and take
time to volunteer for local programs.
Several—including First Bank Financial Centre in Oconomowoc (p. 24) and
Peoples Bank in Elkhorn (p. 4)—practice “random acts of kindness,” but we
are all involved in different forms of
community engagement.
There’s a fourth “A” prevalent in our
industry, too: appreciation. More so
than many big businesses and bureaucracies, we show appreciation to our
employees, customers, and communities. Every year our association presents employee service and bank centennial awards. Thanks to the support of
many associate members, Community
Bankers of Wisconsin also hosts an
annual Member Appreciation Days. I
encourage you to send several of your
bank’s current and future leaders to one
of this year’s events and promise that
you won’t regret the time spent away
from the office! For details, visit www.
communitybankers.org.
Inside…
4 Filling a Niche: Peoples Bank
Grows to Serve the Community
5S.798 Proposes TBTF Solutions
8 Q and A: Catching up with Terry
Burrington, Financial Marketing
Corp.
18 Three Keys to Understanding
Your Role as a Community Bank
Director
20 ‘Best in Class’ Boards: How
Directors Help Their Banks
Succeed
May/June 2013
Wisconsin Community Banking News
3
Filling a Niche: Peoples Bank Grows
to Serve the Community
Mary Lou Santovec
W
hen a series of financial
institution mergers left the city
of Elkhorn (pop: 10,084) without a
community bank, Ronald Condroski and
three business professionals with strong
community ties decided it was time to
start a financial institution that would
focus on the needs of the community.
Condroski—an Elkhorn resident with
over 40 years of banking experience
including serving as president of Bank
One Elkhorn—came out of retirement
to lead the new venture.
Peoples Bank opened on March 5,
2001, with $7 million in capital and five
employees. It has since grown to $190
million in assets, $165 million in deposits, and 60 employees at three branch
locations. The bank’s $155 million loan
portfolio “consists primarily of loans to
local businesses and farms, consumers,
municipalities, and nonprofit organizations,” said Tom Oehler, president and
CEO. (Condroski continues as chairman
of the board.)
Music, Christmas Put City on the
Map
The county seat of Walworth County,
Elkhorn sits at the intersection of major
highways to Milwaukee, Chicago, and
Madison. The city is well known to amateur and professional musicians alike for
the instruments produced there since
1900. The city’s logo sports a stylized
French horn.
Despite its musical reputation, the
community is more widely known for
two 1950s events
intended to showcase Christmas in a
small town. In 1952,
the television series,
“The March of Time,”
featured Elkhorn as
the setting for one of
its shows. Producers
thought the city was
the perfect depiction
of “a small American town during the
Christmas season.”
Six years after the
4
partner of several real estate investment
firms including Market Street Ventures,
LLC, has worked with various banks for
his financing over the years. The real
estate investor owns six- and 12-unit
buildings, two-family duplexes, and
single family homes in Milwaukee,
Hartland, Oconomowoc, Burlington,
Elkhorn, Waterford, and Cudahy. Carmody initiated a connection between
his firm and the community bank when
he stopped by the trailer that was the de
novo’s initial home to show bank staff his
development plans. “They asked if they
could help me,” he said.
He’s remained a loyal customer of
Peoples Bank and has no plans to switch.
“I can’t say enough about Peoples Bank,”
said Carmody, who has been with the
financial institution for some 10 years.
“Peoples makes it very easy. They’re very
accommodating. Tom [Oehler] has been
very supportive of the different developments we work on.
“I always give them the first opportunity to make the loans, to do business,”
Carmody said. “They’re so professional
in their conduct.”
Gary and Sue Wallem own Wallem
Management, a real estate investment
firm with a portfolio comprising individual and commercial real estate properties. “I’ve been with Peoples since it
Professional Conduct Draws Rave
was in a trailer,” Gary Wallem said. “I’m
Reviews
in it [investing] for the bottom line and
Because of its location, the town
I need capital to work with.”
has attracted many real estate investors
Wallem appreciates the down-toincluding Dan Carmody and Gary Walearth
attitudes of the bank’s staff. “I
lem, both customers of Peoples Bank.
have
had
bankers in the past that have
Carmody, the owner and managing
behaved like royalty” but not Peoples.
“They’re easy to work
with—that was the
main thing.”
A welcoming attitude and the staff ’s
extensive experience in lending drive
business owners to
Peoples’ front door.
Oehler started with
Peoples two months
after the bank opened
The de novo Peoples Bank puts its focus on the community.
city’s television debut, Ford Motor Company commissioned New York artist
Cecile Johnson to paint a series of six
watercolors to illustrate an article in the
company magazine. Johnson, who had
spent Christmas in Elkhorn two years
earlier, used the community as inspiration for her work. Five of Johnson’s six
paintings were eventually published as
Christmas cards, leading to a new Elkhorn moniker—“The Christmas Card
Town.”
Ford donated one of Johnson’s original paintings to the city, which later
acquired four more. The sixth painting
was never found. All are on display at
the local library.
The Christmas card tradition continues. Local artist T. James Carson produces an annual oil painting, which is
turned into Christmas cards and sold.
Elkhorn is also known around the
NFL for producing two players—Greg
Kent, who played for the Oakland Raiders and Detroit Lions in the 1960s, and
Dave Kraayeveld, who played for the
Seattle Seahawks in the late 1970s. Other
claims to fame include composer Joseph
Philbrick Webster, who composed the
hymn, “In the Sweet By and By.” The
Walworth County Fair is second in size
only to the Wisconsin State Fair.
May/June 2013
continued on page 6
S.798 Proposes TBTF Solutions
Y
our CBW Board of Directors voted
unanimously to support S.798,
Terminating Bailouts for Taxpayer
Fairness Act, introduced by Senators
Sherrod Brown (D-Ohio) and David
Vitter (R-La.). The bill would solve the
too-big-to-fail epidemic by raising bigbank capital standards.
If enacted, S.798 would impose a 15
percent capital standard on the largest
banks and an 8 percent capital standard on regional and mid-size banks.
No banks headquartered in Wisconsin
exceed the $50 billion threshold outlined
in this legislation, and capital standards
for all Wisconsin banks would remain
unchanged.
There is every reason to support
S.798. This legislation would restore a
degree of fairness to the banking system
not seen in decades. As it is now, the
too-big-to-fail banks enjoy competitive advantages over community banks,
benefit from bailouts at the expense of
taxpayers, and are not held accountable
for their risky behaviors.
According to the U.S. Government
Accountability Office, homeowners lost
more than $9 trillion during the 20072009 financial crisis, and the nation’s
economic output also suffered a loss in
the trillions. Yet, now, four years later,
the assets controlled by the big banks
have grown by more than $1 trillion.
How is this fair? How is this possible?
Earlier efforts to prevent the excesses
of big banks have added onerous regulatory burdens for all banks, especially for
community banks that must add staff
and commit staff time to ensure that
they understand and follow the increasing array of new rules. Community
banks did not cause the financial crisis,
and they should not be tasked with additional regulations instituted with the big
bank excesses in mind.
Community banks, with their knowledge of local consumer and business
needs, are already fixing the economy
and leading the nation into recovery.
They should not also be paying the price
to fix the failures of big banks through
a never-ending, steadily growing raft of
unneeded regulations.
The TBTF Act would benefit community banks through a variety of provi-
sions. For example, the act would:
Expand mortgage lending opportunities under the Consumer Financial
Protection Bureau’s rules.
Relieve banks of redundant annual
privacy notice requirements.
Support greater accountability in
bank exams.
Support mutual banks with new dividend waiver rules.
Simplify capital requirements for
small bank and thrift holding companies.
Exclude community banks from
new small business data-collection
requirements.
Allow thrift holding companies to use
the new 1200-shareholder Securities and
Exchange Commission deregistration
threshold.
Passage of S.798 will be a tough, uphill
climb. Wall Street firms, big bank trade
associations, and related organizations
are strongly lobbying in the media and
on Capitol Hill against this important
bill. They are circulating misinformation (TBTF is no longer a problem, the
Daryll Lund, CAE,
CBW President
and CEO
big banks have repaid all TARP funds,
S.798 would cause the collapse of the
U.S. economic system, etc.) in hopes of
killing the measure.
Your voice can help pass this important legislation. ICBA offers a Web page
enabling you to send a message to your
congressional leaders. Your national
association has also published a study,
“End Too-Big-to-Fail,” which provides
facts to counteract the myths and misconceptions of the big bank lobbying
efforts. This study and the advocacy page
are available at www.icba.org. I encourage you to let your elected officials know
where you stand.
CBW Legal & Compliance Consortium
Community Bankers of Wisconsin offers its Legal and
Compliance Services Consortium to provide CBW members
with fast, easy access to compliance and legal services at a flat
annual fee. Godfrey & Kahn renders written or oral legal advice that can
be maintained in bank records and provided to regulators. Consortium
members become clients of Godfrey & Kahn.
Consortium members have received answers to questions related to
permissible compensation arrangements for mortgage loan originators,
honoring powers of attorney, access to safe deposit boxes, overdrafts, financial
privacy, FDIC insurance coverage, flood insurance, federal and state consumer
loan disclosures—and many more issues. Clients often request written advice
and conclusions to follow-up on Godfrey & Kahn discussions.
Consortium members can rest assured that they have specialized legal
advice backing up their unique compliance questions and concerns.
For more information, contact Jami Erickson
at [email protected].
May/June 2013
5
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May/June 2013
its doors in March 2001. His previous experience with Bank
One in Milwaukee (now Chase) and Northern Trust in Chicago
gave him a solid education on commercial lending credit.
The bank’s eight commercial/agricultural lending officers
and three consumer lending officers have an average of over 27
years of lending experience. Products and services are simple
to explain and simple to understand. “They come without a
lot of red tape and fine print,” said Oehler.
It’s the focus on customers and simplicity of the products
that led Oehler and many of his staff to work at a community
bank. “Many of us came from large national banks and we
experienced the frustrations of not being able to provide even
simple courtesies to a customer, like an honest, same-day
response to a question or concern.”
A laser-like focus on customers is just one of the reasons for
the bank’s success. The other is the KISS (keep it simple, Sam)
philosophy. “We simply answer the phone and greet our clients
with a smile on our face [and] with the goal of making every
customer contact an opportunity to create Raving Fans of our
bank,” Oehler said. “In fact, to initiate new employees to our
culture, we strongly encourage them to read Ken Blanchard
and Sheldon Bowles’ book, Raving Fans: A Revolutionary
Approach to Customer Service.”
Employee Volunteers Make a Difference
The bank supports the community not only financially, but
also through participation in local activities. Last year, Peoples’
employees volunteered over 3,500 hours, an average of 60
hours of service per employee in the community. Employees
are often found serving in leadership roles with organizations
such as the Rotary, Kiwanis, Habitat for Humanity, and the
United Way.
Peoples is a founding sponsor of The Elkhorn Fund, a
community fund that gives a portion of its earnings from its
permanent endowment to support charitable programs and
projects in the community.
The bank sponsors a Kindness Crew that performs random
acts of kindness, such as raking leaves, delivering May Day
flowers, washing car windows in the drive up, or distributing
coupons for ice cream on hot summer days. Even the customers
get into the volunteer spirit with Wallem and his wife dressing
as Santa and Mrs. Claus during the bank-sponsored Christmas
tree lighting ceremony in the Courthouse Square.
Since opening in 2001, Peoples has added two additional
branch locations, a branch four miles north of Elkhorn in
the Lauderdale Lakes area in 2005, and a full-service branch
in the western Kenosha County community of Silver Lake in
2007. The bank also has a loan center in Waterford, which
opened 2011.
In addition, Peoples will soon open a loan production office
in Janesville. “We are excited about becoming active in the
Janesville community,” Oehler said. “Beyond this new office,
we will always look at expansion possibilities that present
themselves.”
Still, it’s not easy being a community banker these days. “We
will always be challenged with ongoing changes in regulations,”
he said. “We simply ask that those regulations make sense for
community banks.” And that’s a tune all community bankers
can sing along with.
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Q and A: Catching Up with Terry Burrington,
Financial Marketing Corp.
Doris Green
C
hances are, you know Terry
Burrington, owner of Financial
Marketing
Corp., Palmyra.
This longtime
CBW associate
member has
helped a number
of
member
banks promote
their brand
and knows hundreds of Wisconsin
community bankers. But, do you know
his background?
Born and raised in Janesville, Burrington enlisted in the U.S. Coast Guard
after high school and served aboard the
cutters Sundew and Mackinaw out of
Michigan ports. In 1965, he was one of
17 Coast Guardsmen selected to serve
at the Coast Guard Exhibit at the New
York World’s Fair.
Returning to Janesville, Burrington
was hired by WCLO Radio and served as
an announcer and commercial producer
from 1969 to 1975. He met and married
his wife, Delores, in 1971.
How did you become involved in
community banking?
A high school acquaintance of mine,
Bill Adamany, had joined a local Janesville bank after high school and rose
through the ranks to be vice president,
commercial lending. Bill purchased an
interest in the Prairie City Bank in Prairie du Chien in 1974 and asked for my
advertising help on a freelance basis.
In 1975, he asked me to join the bank
staff as marketing and business development officer. Between 1975 and 1981,
the Prairie City Bank doubled in size
and was one of the top earning banks in
its size group. Our bank staff was active
in the community and an innovator in
the industry. We were the first bank in
Southwest Wisconsin to lengthen our
weekday banking hours, add Saturday
morning lobby and drive-up hours, and
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May/June 2013
install an ATM.
How (and when) did you come to
launch your business?
Because of the success of the Prairie City Bank, the Wisconsin Bankers
Association asked me to speak at a WBA
Marketing Conference in 1979. I met a
number of community bankers at the
conference and several of them called me
after the conference with questions about
their marketing, advertising, public relations, and promotions. The following
year I saw a newspaper article about the
proposed financial deregulation and how
it would dramatically change the financial services industry. At the same time,
the directors of Prairie City Bank were
getting inquiries from persons interested
in purchasing the bank.
I decided the time was right to launch
Financial Marketing Corporation and
be able to assist banks by offering a full
range of marketing services. On June 1,
1981 we opened for business in a building we owned next to our home in Prairie du Chien. Through the transition
from bank officer to bank consultant,
Bill Adamany was very supportive of
my efforts and his endorsement opened
many doors for me.
How long have you been
associated with CBW?
That same year, both Bankers Bank
and the Independent Bankers Association of Wisconsin (IBAW) were started
by a group of Wisconsin community
banks. I attended the second IBAW conference in 1982 at The American Club in
Kohler and joined as an associate member the next year and attended the third
conference. As the group was small, I
met Richard Woodcock, (Central Bank,
West Allis); Dave Ballweg, (Community
State Bank, Union Grove), and Helge
Christiansen and Ron Slater from Bankers’ Bank who were to become some of
my first clients and biggest supporters.
I remember helping Richard and
Carol Woodcock and then IBAW Executive Director Donna Coughlin stuff
envelopes with conference materials. We
started in late afternoon, ordered a pizza,
and continued stuffing into the evening
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to get the mailing out to members and prospective members.
What are the primary ways in which your business
has changed over the years?
Young & Associates, Inc.
Liquidity Planning
Strategic Planning
Regulatory Assistance
Stock Valuations
Capital Markets
Expansion &
De Novo Bank Charters
Internal Audit
Information Technology
Recruitment &
Human Resources
Lending & Loan Review
Compliance
We added staff and built a recording studio in our office to
expand the creative services we provided banks. We outgrew
our original office in Prairie du Chien and moved a block north
to an 1865 church we purchased and remodeled.
At one time, we had a creative director, three graphic artists, a recording engineer, office manager, and administrative
assistant.
What changes have you seen in the community
banking industry?
Technology has dramatically changed the financial services
industry and also helped our business do more with fewer
people. The use of computers and e-mail has helped every
business give faster, more efficient service to customers.
What are your favorite memories of your work in this
industry?
Attending the IBAA Conference in San Antonio, Texas,
when Tom Sheehan was elected IBAA Chairman was one of
the highlights.
Another is serving now on the CBW Associate Member
Advisory Board and having an opportunity to meet and work
with so many other associate members and the CBW staff.
Please complete this sentence: Without my
involvement with CBW, I never would have …
Been as successful as we have been. We continue to work
with community banks, all of whom are members of the Community Bankers of Wisconsin.
Over the years, each CBW conference is an opportunity to
renew old friendships and make some new ones.
Is there anything else you would like our magazine
readers to know about you?
I feel truly blessed to have the opportunity to work in an
industry I love, with people who share my passion for serving
customers.
I’m also blessed to have Delores in my life. She is my best
friend, my wife, and my business partner.
Finally, thanks to the CBW staff and the bankers who serve
on the association board of directors and committees. We all
share the same commitment to community banking.
To learn more about the Financial Marketing Corporation,
visit www.terryburrington.com.
Policy Development
800.525.9775
younginc.com
Bankers Working For Bankers
10
May/June 2013
Waukesha State Bank to Break Ground
Waukesha State Bank will break ground this summer on a new
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11
Wisconsin Community Bankers Attend
Washington Policy Summit
From left: Rob Marlatt, Butch Pomeroy, Rep. Ron Kind, Rick
Busch, and Daryll Lund
Eight Wisconsin
community bankers joined with
nearly 1,000 other
industr y representatives for the
Independent Community Bankers of
America (ICBA)
From left: Dennis Doyle, John Slatky, Rep.
annual Washington
Reid Ribble, Rick Busch, and Daryll Lund
Policy Summit in
April. Participating were Paul Hoffmann, Monona State
Bank; Jim Tubbs,
State Bank of Cross
Plains; Dennis
Doyle, Great Midwest Bank, Brookfield; John Slatky,
Bank of Luxem- From left: Jim Tubbs, Paul Hoffmann, Rep.
burg; Butch Pome- Mark Pocan, Steve Eager, and Daryll Lund
roy, International Bank of Amherst; Rick Busch, Royal Bank,
Gays Mills; Steve Eager, Union Bank & Trust, Evansville, and
Daryll Lund, CBW. Also attending and pictured: Rob Marlatt,
ICBA vice president, Great Lakes Regional Office.
Key issues were supporting regulatory relief, ending toobig-to-fail, stopping the tax-subsidized credit union charter
re-write, and supporting a community bank exemption from
Basel III.
In addition to meeting with elected officials, community
bankers heard from key speakers during the Policy Summit.
Speakers included House Financial Services Committee Chairman Jeb Hensarling (R-Texas) and Senate Banking Committee
member David Vitter (R-La.), as well as Senate Banking Subcommittee on Financial Institutions and Consumer Protection
Chairman Sherrod Brown (D-Ohio).
12
May/June 2013
From left: Jim Tubbs, Dennis Doyle, Steve Eager, Butch
Pomeroy, John Slatky, Daryll Lund, Paul Hoffmann, and Rick
Busch
From left: Dennis Doyle, Rob Marlatt, Butch Pomeroy, Jim
Tubbs, Daryll Lund, Rep. Sean Duffy, Rick Busch, Steve Eager,
John Slatky, and Paul Hoffmann
From left: Dennis Doyle, Daryll Lund, Jim Tubbs, Paul
Hoffmann, Sen. Ron Johnson, Steve Eager, John Slatky, Rick
Busch, and Butch Pomeroy
Always your partner,
never your competitor.™
Bankers’ Bank serves community-minded financial institutions
of all sizes throughout the Midwest and has been doing so
successfully since 1981. We are not a retail bank for the general
public; therefore we never compete with you, for business.
(l to r) Steve Schnering, Jen Rozinski,
Vicki LaFond, Sam Devine & Garrett Marr
of Bankers’ Bank Investment Services
Always Your Partner,
Never Your Competitor™
www.BankersBankUSA .com
Scott Krieger
Eau Claire, WI
715.271.0937
Jeff Niesen
Madison, WI
608.577.8081
May/June 2013
Rob Shetter
Sterling, IL
815.441.2656
13
Madison, WI • Des Moines, IA • Indianapolis, IN • Springfield, IL
CBW’s Telephone/Webcast training sessions bring the latest regulatory
information right to the desks of your bank employees:
Tuesday, June 25: Detecting Counterfeit Items & Fraudulent ID for
the Frontline
Wednesday, June 26: Pricing Consumer & Commercial Loans for
Profitability
Thursday, June 27: Bank Opportunities with Small Businesses:
Growing Deposits, Loans & Fee
Income
Tuesday, July 2: Using the
APRWIN Calculator to
Effectively Avoid & Correct
Violations
Tuesday, July 9: Internet Fraud
Claims: Who Is Liable?
Wednesday, July 10: Duties of the
Board Secretary: Fundamentals,
Best Practices, & E-Package
Delivery
Thursday, July 11: RDFIs & ACH
Healthcare Payments: Is Your
Bank Prepared for the Sept. 20
Deadline?
Tuesday, July 16: Directors and
Enterprise Risk Management
Thursday, July 18: IAT Suspect
Transactions: What’s an RDFI
to Do?
Friday, July 19: New Appraisal
Requirements for Consumer
Access & Higher-Priced Mortgages: Deadline Jan. 18, 2014
Tuesday, July 23: Determining
Cash Flow from C Corp Tax
Returns & Financial Statements
Wednesday, July 24: Your Depositor Has Died: Actions to Take,
Mistakes to Avoid
Thursday, July 25: Business Writing Boot Camp, Including Submission & Critique of Your Own
Writing Sample
Tuesday, July 30: Compliance
Rules All Staff Must Know: Red
Flags for ID Theft, Bribery, and
Privacy
Wednesday, July 31: Assessing
E-banking Services & Delivery
Channels: Strategic Deployment
and Risk Assessment
Most webinars run from 2:00 p.m. to 3:30 p.m. However, the webinar on July 19 begins at 10:00 a.m. For questions
on any of these conferences or about the Webcast itself, please call Sandy Gruber at (608) 833-4229 or email sandy@
communitybankers.org. Visit CBW’s Web site, select the desired workshop, and follow the link to register online.
Not for Golfers Only: 2013 Member Appreciation Days
Community Bankers of Wisconsin
has announced the details of its popular
Member Appreciation Days. The 12th
annual event features a full-day program—with morning workshops, lunch,
afternoon golf, and an evening dinner
and awards presentation. Each CBW
member bank receives one complimentary registration, thanks to generous cosponsors, imcluding Gold Corporate
members Bankers’ Bank, CBFS, Executive Benefits Network, Federal Home
Loan Bank of Chicago, ICBA Services
Network, McGladrey, Travelers, and
WIPFLI LLP, as well as Silver Corporate
members BOSC, Inc., CliftonLarsonAllen, Pulse, Shazam, West Bend, and
Young and Associates, Inc. If you are
not a golfer, please come for all of the
other activities.
Additional attendees are encouraged
to come for the program and networking opportunities. Additional participants pay $110 or $130, depending on
location.
This year’s events will be held:
Thursday, June 20—Eau Claire Golf
14
& Country Club, Altoona
Wednesday, July 10—University
Ridge Golf Course, Madison
Monday, July 15—The Bog, Saukville
The morning agenda also differs by
location. While each session begins with
a CBW update by Chairman Paul Hoffmann and President and CEO Daryll
Lund, the morning also features three
different topics, according to date/
location:
June 20—1) ICBA Securities, “What
Concerns Community Bankers?” 2)
Community Bankers Financial Services,
“Reduce the Risk of Cyber Loss,” and 3)
WIPFLI, LLP, “Your Bank and UDAAP”
July 10—1) Travelers, “Cyber Threats:
May/June 2013
Are You Covered?” 2) Bankers’ Bank,
“Don’t Let Your Customers’ International Needs Outgrow Your Bank,” and
3) Federal Home Loan Bank of Chicago,
“Economic Update”
July 15—1) McGladrey, “Asset Liability Management Emerging Issues & Topics” and 2) Executive Benefits Network,
“Bank Mergers & Acquisitions: How the
BOLI Asset Is Affected”
To learn more or register online, visit
www.communitybankers.org and click
the links under “What’s New.”
Baker Tilly Announces
Merger
CHICAGO—Baker Tilly Virchow
Krause LLP has merged with Holtz
Rubenstein Reminick LLP (HRR), a
New York firm. HRR is among the Top
100 firms in the U.S. according to the
magazine, Accounting Today.
The combined firms, which will be
named Baker Tilly Virchow Krause LLP,
will have 1,600 professionals and revenues of $300 million.
Power comes from being understood.
SM
When you trust the advice you’re getting, you know your next move is the right move.
Backed by our experience serving more than 1,500 financial institutions across the country—
including many right here in Wisconsin—we help bank leaders navigate complex reporting,
governance and regulatory issues in times of rapid change.
That’s what you can expect from McGladrey. That’s the power of being understood.
To learn how we can help you, contact John Behringer at
[email protected] or 414.298.2855.
www.mcgladrey.com
© 2013 McGladrey LLP. All Rights Reserved.
May/June 2013
15
The Board and CEO: Partners in Progress
Jeff Rendel, Certified Speaking
Professional
“W
hat’s the real-world role between
a board and its CEO?” is a
question often posed by board members
and CEOs at director’s conferences. A
consistent answer is: “The CEO relies
on his or her board for guidance just
as much as that board relies on its CEO
for execution. Focus your efforts and
expectations on that central dynamic
and you will achieve exceptional results.”
With this answer in mind, consider
adding or enhancing the following
elements to the forces at work between
your board and CEO.
If You Are the CEO:
Streamline and support. Keep your
reports straightforward and strategic,
ensuring that your board understands
the drivers of earnings, profitability, and
capitalization, as well as your institution’s ability to sustain growth. Keep
your board members refreshed and on
top of matters, as new developments
present operational and strategic oppor-
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tunities. Also, find the precise balance
between strategy, tactics, and drilleddown details with an understanding that
your board wants assurance that daily
activities will lead to strategic success.
Go one on one. Get to know each of
your board members, independently,
taking the time to discover their personal and professional side. Sit on their
side of the table, seeking an understanding of their reasons for sitting on your
board. Appreciate each member’s drivers
and aspirations, discovering their vision
for your institution.
Engage your board members.
Expect questions from your board members, making certain that you hear the
thoughts and opinions of all. Encourage
them to gain industry expertise, allocating funds for conferences and certifications. Help board members be informed
advisors through continuing education
and meaningful participation.
Strive for accord. Prepare for both
sides of an argument, knowing that consensus may involve compromise in order
to move forward. Leave more time for
discussion than presentation in your
board meetings, recognizing that strategic conversations about direction are
often more important than last month’s
operational details.
Be transparent. Share the good news
and the bad news with your board. Its
support helps you lead your institution
through all environments. Spring no
surprises, giving your board full disclosure. Learn what your board wants from
your institution, discovering its perspective as representatives of the customers
you serve.
If You Are on the Board:
Answer the question, “What’s
required to be our CEO?” Determine
your non-negotiables, defining what is
required to be your institution’s CEO.
Work with your CEO on his or her strategic career growth, obtaining for your
CEO the training and expertise he or she
needs to lead your institution’s strategic
future.
Discover your CEO’s vision for the
institution. Where would he or she
like to lead your institution? What is
required for that vision to be realized?
How does your CEO’s vision match
May/June 2013
the board’s collective vision for your
institution?
As a full board, determine what
you want your institution to be and
why that vision is necessary. With
your CEO, develop objectives to achieve
what’s right and relevant for your members. Task your CEO with developing,
explaining, and executing strategies.
Regularly review measures of progress
to gauge your institution’s strategic
success.
Commit to being a wisely engaged
board. Provide insight, advice, and support to your CEO. Conduct useful, twoway discussions about key decisions.
Define areas where the board wants to be
very engaged, and areas where updates
and information are the norm. Strategically, accept that permanence requires
mobility, relevance requires innovation,
and growth requires change.
Remain “big picture” while your
CEO remains operationally focused.
One progressive board at a West Coast
institution abides by a philosophy that it
is responsible for establishing the “Why”
and “What” for the institution’s strategic objectives; the CEO is responsible
for developing and executing strategies that involve the “How,” “Where,”
“Who,” “When,” and “How Much?” As
a full board, concentrate on establishing
objectives that support your institution’s
mission, and task your CEO with developing strategies and standards that are
realistic and quantifiable.
The relationship between a board and
its CEO is reciprocal; both necessitate
assistance and action from the other in
order to thrive. As your institution continues to grow in governance and management, seek ways to be jointly active
and removed in the roles you accept and
oversee. In the end, you will find success
for your board and CEO, as both parties
partner to ensure ongoing accomplishment for your institution.
Jeff Rendel, Certified Speaking Professional and president, Rising Above Enterprises, works with financial institutions
that want elite results in leadership, sales,
and strategy. Contact: [email protected]; www.RisingAboveEnterprises.com; or 866-340-3770.
©2013 CliftonLarsonAllen LLP
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Fine Points
The Field Is Ours
Camden Fine, President and CEO of
ICBA
OK,
community bankers, it’s time
for our industry to lace up
our combat boots
again and take the
field together. We now
face another monumental, must-win
policy confrontation
in Washington. This
time Congress is taking a hard look at enacting further legislation to end too-big-to fail once and
for all, and that’s great news for Main
Street and for America.
Fortunately, with our industry on the
offensive, the tide of opinion and constructive policy solutions has turned our
way, and our momentum continues to
build almost daily.
A critical jump-start to the too-bigto-fail debate in Congress was the introduction of the Terminating Bailouts for
Taxpayer Fairness Act (S. 798) introduced by Sens. Sherrod Brown (D-Ohio)
and David Vitter (R-La.). Designed to
limit taxpayer exposures, protect against
future crises and level the playing field
for community banks, the TBTF Act
would set minimum equity capital standards according to a financial institution’s size and complexity. The bigger
the bank, the greater its systemic risk,
the higher its minimum capital requirement would be.
That central prescription for addressing financial overconcentration is so
practical, feasible and transparent that
it’s scaring the daylights out of Wall
Street’s risk management geniuses, who
have been accustomed to dictating what’s
supposedly safe and appropriate for their
too-big-to-manage institutions. So of
course the megabank lobby is desperately opposing this legislation, both publicly and behind the scenes, with all of its
immense resources. This legislation, and
just as ominously for them the momentum behind it, presents a huge threat to
the megabanks’ preferential, can’t-lose
hegemony in the financial marketplace.
So for Wall Street, and its half-dozen
national financial trade groups, this will
May/June 2013
be an all-out fight, where virtually no
political tactic will be off the table.
Nevertheless, ICBA has given its full
and enthusiastic backing to the BrownVitter legislation, which was introduced
while community bankers were visiting
their congressional delegations during
ICBA’s Washington Policy Summit in
April. But fortunately the TBTF Act
is only one bipartisan measure being
discussed in Washington. Several other
members of Congress, from House
Financial Services Monetary Policy
Subcommittee Chairman John Campbell (R-Calif.) to Sen. Bernie Sanders
(I-Vt.), have introduced separate bills
taking dead aim at too-big-to-fail. Even
FDIC Vice Chairman Thomas Hoenig
and Federal Reserve Bank of Dallas
President and CEO Richard Fisher have
introduced their own widely considered
legislative plans.
Make no mistake, finishing off toobig-to-fail will take commitment. Grasping hold of this brass ring is far from
guaranteed. But as a community banking industry we can do this. We’ve been
in similar foxholes together before, and
you’ve always responded with energy,
passion, intelligence and integrity that
have been overpowering and impossible
to disregard. In this way, we’ve faced
down Wal-Mart, mega-credit unions
and Wall Street itself.
So put on your combat boots one
more time. Let’s stay on the offensive
and end too-big-to-fail. The momentum
is ours to keep. Let’s finish the job for
Main Street America and all Americans,
current and future.
Community Bankers
Welcome New Associate
Member
Elan Financial Services, Pittsburgh, PA
Judd Halverson
651-414-9025
[email protected]
Elan provides EFT processing
solutions, including ATM processing,
bank and debit card POS processing,
ATM network membership, ATM and
POS gateway services and MoneyPass
network.
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May/June 2013
19
‘Best in Class’ Boards:
How Directors Help Their Banks Succeed
John T. Reichert, Financial Institutions
Practice Group, Godfrey & Kahn, S.C.
M
uch has been written about
the challenges facing today’s
community bankers,
including ongoing
asset quality issues,
shifting capital
requirements,
cutthroat competition
for customers, rapid
developments in technology, and an
endless onslaught of new rules and
regulations. Notwithstanding these
challenges, many banks have turned
the corner and see opportunity on the
horizon.
What distinguishes the banks that are
improving (and perhaps even excelling)
from those that continue to struggle? In
many instances, we believe the difference can be traced to the boardroom.
This article summarizes common
characteristics we have observed from
those banks that are thriving partially
as a result of their board’s involvement,
guidance, and strategic direction.
Composition
Take a step back: A board’s primary
objectives are to represent the shareholders’ interest, provide oversight of
management, and provide direction,
support, and guidance to management.
Those boards that excel at these objectives often are comprised of people with
different backgrounds, experiences, and
perspectives.
Consider the following:
While your bank undoubtedly has
business owners on its board, are their
experiences really diverse? Do your
directors’ business experiences include
a mix of manufacturers, retailers, real
estate investors, professionals, and, perhaps most important, current or former
bankers or other people familiar with
running businesses that are heavily
regulated?
Is the bank doing a good job of rotating talent on its board? Many boards
we deal with have been comprised of
the same directors for 15 years or more.
20
How do you ensure that fresh perspectives and viewpoints are being contributed if you don’t rotate people in (and
out) of board service? Should you consider including a mandatory retirement
age in your bylaws?
Does your board act independently
when necessary and are your outside
directors willing to ask the right questions of management? The best boards
we encounter are capable of “pushing”
management, yet stop short of micromanaging. In order to fulfill this role,
directors need to be willing to invest the
time to become (and remain) knowledgeable about the inner workings of
the bank.
We think successful banks should
be focused on these questions and
should be continually looking for ways
to attract, retain, and cultivate talented
directors who desire to take an active
role in the oversight of management
and the strategic direction of the bank.
Continuing Education
Can your directors converse knowingly about the operations of the bank
without management present? Often, the
answer is no. It should be noted that outside directors are not expected to know
every line item and operational aspect of
the bank. However, they should be sufficiently knowledgeable about the bank
and its operations to speak with regulators, shareholders, or the bank’s outside advisors about the bank’s primary
challenges and opportunities without
relying on management. If directors are
not conversant in the bank’s operations,
how can they be expected to provide
independent oversight or meaningful
support and guidance to management,
which increasingly is what regulators
expect? Yet, many community banks
still resist the notion of having their outside directors even become involved in
operating details or matters that may be
perceived as micromanagement.
In addition to the use of standard
board packets and presentations, there
are several things directors can do to
improve their performance:
Attend periodic bank director train-
May/June 2013
ing. This can be done internally, by
bringing in a third party to conduct a
half-day session with the directors. It can
also be done through one of many trade
groups and vendors that offer director
conferences.
Have bank employees from different business lines make periodic presentations to the board. This allows the
directors to hear from the front-line
people what’s happening in the bank. It
also allows the employees to establish
a level of familiarity and comfort with
the directors.
Network with other bank directors.
This can be done formally through trade
groups and conferences, or informally
through a variety of other networking
opportunities. By reaching out to other
directors, your board will be able to
gauge its performance.
Committees
Most banks have several standing
committees. These committees meet
regularly and have very clear, ongoing
objectives. In our experience, banks
performing at better than peer levels
often make better use of their committees by divvying up responsibility for
the numerous challenges and opportunities facing the bank. There are many
areas that deserve (or require) in-depth,
time-consuming commitments from the
directors, yet don’t necessarily require
full board participation on a regular
basis. Examples include:
Technology — IT remains a primary
area of risk for fraud and a large, ongoing expense item for most community
banks.
Capital Planning — It’s becoming
increasingly important to have a written plan describing how the bank will
preserve, deploy, and, when necessary,
raise capital and deal with the challenges
presented by Basel III.
Marketing — Successful banks often
have directors who are actively engaged
as “ambassadors” for the bank in the
bank’s marketplace. Tasking two or three
directors with staying up to speed on
the bank’s marketing efforts will ensure
a more coordinated effort between staff,
management, and directors.
Strategic Initiatives — If your bank
is considering a deal, be it a branch sale,
loan sale, or merger, or if you are searching for a new executive, there will be a
substantial time commitment required
from the board. To ensure that the
board can move quickly on a proposal,
we recommend that a special committee comprised of two or three outside
and management directors be formed,
who will work to identify, negotiate, and
evaluate transactions and then make formal recommendations to the full board.
Compliance — Much like IT, compliance continues to be a primary area of
risk for community banks. This will continue to be so in the foreseeable future
and it needs sufficient attention at the
board level.
“Ad hoc” committees of several directors to respond to regulatory enforcement actions have been formed by many
of our clients.
Conflicts of Interest
There are many situations where bank
directors inadvertently find themselves
or affiliated with companies in a conflict
situation with the bank. In addition to
the numerous regulations governing
transactions between the bank and its
directors, banks should consider procedures to ensure transactions with directors are fair to all parties involved. Best
practices include:
Adopting self-imposed blackout
periods where directors cannot trade
shares of the bank’s stock if they possess
information that is not available to other
shareholders and may be material to a
person’s investment decision. Even if
you’re not a publicly-traded company,
there is still significant risk related to
insider trading.
Having a majority of the disinterested directors approve any transaction
between the bank and a fellow director,
including the bank’s purchase/redemption of shares from a director, and the
price being paid. The interested director
may not be counted for the quorum,
should not participate in the board discussion, and should not vote. The minutes should reflect this. Make sure any
such transactions are on arms-length
terms and document why the board feels
they are in the best interest of the bank
and its shareholders.
Adopt and periodically review a Conflict of Interest Policy.
As banking becomes more complex
and competitive, it is going to become
more important (and difficult) to assemble and maintain a “best in class” board
of directors. At the same time, we believe
the quality of a bank’s board of directors
will be a key factor in distinguishing
those banks that excel in the next decade
from those that merely survive.
Contact John Reichert at 414-287-9674
or at [email protected].
BancVue Is New CBW Associate Member
BancVue of Austin, Texas, is CBW’s
newest associate member. The firm
provides innovative products like
Kasasa and dynamic support services
such as marketing and consulting to
help community financial institutions
compete and win against megabanks.
For more, contact Deanna Anderson at
651-492-5427 or Deanna.anderson@
bancvue.com.
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Risk Advisory • Tax • Finance & Accounting
©2011 ManpowerGroup. All rights reserved. Experis Finance is a not a certified public accounting firm.
May/June 2013
21
The Many Challenges of EMV in the U.S.
By Terry Dooley, SHAZAM, Senior
Vice President and CIO
EMV
(Europay, Mastercard
& Visa) chip cards are
receiving a lot of well-deserved attention. Overseas, this technology has
proven its ability to create a more secure
transaction and to reduce fraud, compared to the typical static magnetic
striped cards. As the benefits of EMV
technology continue to surface globally, so do the challenges this technology
presents to the U.S. payments industry.
The challenges lie in how transactions
are currently processed in the U.S. More
specifically, EMV is facing hurdles in
three areas:
Federal regulation, including Regulation II, or the Durbin Amendment
The competitive payments networks
environment
Merchant and issuer flexibility
Choices, Choices
In short, Regulation II mandates that
merchants have a choice over which network to route a debit transaction. The
rules also stipulate that choice may not
be directly or indirectly influenced by
the card issuer. This means the merchant, or in many cases the “merchant
acquirer processor” on behalf of the
merchant, must be allowed to choose
which network over which to route a
transaction.
Today, transaction routing is done at
the merchant acquirer’s host system and
is a dynamic and complex algorithm.
This algorithm can vary by processor
and uses various attributes of the transaction. These may include items such
as the device, the type of transaction,
the amount of the transaction, and the
merchant location.
The EMV standard, however, as written and implemented in most countries,
does not allow the merchant or acquirer
to determine over which network to
route the transaction once the transaction is in progress, unlike magnetic
stripe. Currently, an EMV transaction
determines the payment network in two
ways:
The terminal may pick the network
that has the highest priority as communicated by the card. The issuer determines network priority during card
personalization. Because the terminal
must follow EMVCo type I and type II
certifications and the rules associated
with these certifications, the issuer priority indicator on the card influences
the path of the transaction.
The terminal may prompt the cardholder to choose an application from
a list. This is useful when a chip card
has multiple sourcing accounts, such
as credit, debit, and prepaid accounts.
However, this feature does not necessarily help determine the network on
which the transaction should route. If
the consumer chooses debit like they
do today, the
merchant then
needs the ability
to determine the
transaction attributes used for
routing.
Need for
Change
Because merchant routing
choice is required
by the Durbin
Amendment,
which gives the
merchants and/
or acquirers the
ability to choose
how to route a
22
May/June 2013
transaction, the country’s migration
to EMV highlights a need for change.
Understandably, card issuers, such as
community banks and credit unions,
as well as merchants, may not fully recognize the complexity of the situation.
Under today’s rules, it’s not possible
to simply load two separate network
applications to a chip card and remain
compliant. The reason for this is that the
issuer priority and rules of EMV directly
or indirectly influence the route of a
transaction. The current alternative to
the issuer priority determining the route
of the transaction is to prompt the cardholder with a list of payments brands to
choose from. This again, although it is
a choice, is not the merchant’s choice.
Clearly, the EMV standard and network
rules need to change in order to support
the U.S. market. Without changes, the
technology itself prevents a fully compliant solution.
One alternative is to change EMVCo
and other network rules. While the technical specification of EMVCo would not
necessarily need to change, the business
rules of EMVCo and other networks
would need to change before the country
can truly leverage the benefits of chip
technology and enjoy choice and competition at the same time.
Merchant Routing
The good news is that the industry
is coming together to meet and discuss
EMV and its challenges. The consensus
is a need to support merchant routing.
Two primary paths have evolved as a
result of these conversations:
The EMV specification needs to
change, specifically in regard to how
the chip and terminal interact and to
how a network is chosen.
All of the payments brands would
support a common U.S. application
identifier (AID) and common U.S. application or specification. This concept is
gaining momentum in the issuer and
merchant community. In fact, in January
the Electronic Transactions Association
(ETA) announced its support for a single
U.S. debit AID for EMV. A common U.S.
AID and a common U.S. specification
or application would allow all brands
to participate in a common standard for
debit transactions. This would also allow
a merchant to support one U.S. AID
and specification or application in order
to have access to any debit network in
which the issuer of a card swiped in its
stores participates.
The most important goal of an industry solution is for all the debit networks
to participate. Equally important is that
the solution not use a standard or an
application that is ultimately controlled
or influenced by one or more payments
networks. It’s difficult to imagine a
workable solution where, for example,
Network A would need to pay Network
B to use a payment technology.
Avoiding a Mass Cards Reissue
There is an additional benefit of a
common AID solution for issuers. With
a single AID, issuers would retain the
debit network portability they enjoy
now. Today, many issuers use several
debit networks to service their debit
card portfolios. The issuers can move
their portfolios between debit networks
without the significant cost of card
reissuance.
The current implementation of EMV,
however, suggests issuers will need to
initiate a mass reissue of cards any time
they change debit networks. This adds
significant costs for issuers during a
time when debit portfolio profitability
is already challenged by regulation. A
common AID and a common specification or application provides a higher
level of flexibility and will potentially
save our country’s banks and credit
unions millions.
The challenges outlined above exist
not only for EMV, but for contactless
payments, as well. Thus, issuers should
be cautious before rushing into a rollout
of dual-interface cards, which have a
single chip with both contact and contactless interfaces. Merchants should
also be cautious of turning on contactless support until they fully understand
how routing will be handled, how terminals will be maintained, and how easy or
difficult it will be to add new contactless
applications.
Share Your Insight
Although the answers are not yet
completely clear, there is a lot of time
and energy being devoted to ensuring
merchant choice is provided, issuer portability is maintained, and the integrity
and competitiveness of the payment
industry continues to exist. However,
more voices from all stakeholders are
needed. If you are watching the developments and want to be heard, get in touch
with any of the EMV work groups operating today. Any of the following groups
would welcome your involvement:
Secure Remote Payment Council
(SRPc)
Merchant Advisory Group (MAG)
SmartCard Alliance – EMV migration Forum (EMF)
ATMIA – ATM ISO industry group
Terry Dooley can be reached at tdooley@
shazam.net.
Bank’s Donation Funds
Historical Society
Purchases
WHITEWATER—Commercial Bank
recently donated funds to the Whitewater Historical Society to purchase new
audiovisual equipment, new display
cases, and a computer and printer for
the museum’s offices.
Your SBA Legal Department
At Anastasi Jellum, we know every aspect of
United States Small Business Administration
(SBA) loan documentation, loan liquidation,
and regulatory compliance. We provide
lenders with full support in processing,
closing, servicing and liquidating SBA loans.
May/June 2013
23
Community Involvement
First Bank Again Celebrates Community Banking Month
with Random Acts of Kindness
OCONOMOWOC— Throughout April, First Bank Financial
Centre (FBFC) employees celebrated Community Banking
Month by “paying it forward” to
local citizens and organizations.
Employees from the Brookfield branch paid for and handed
out $5 coupons at Fantastic
Sam’s, in addition to free food
items at Dominos Pizza, Subway, and Cousins Subs. A few
customers at the bank were left: Kara Kephart with Haley Wagner, both of FBFC. right: Germantown Police and Fire
excited to receive $5 Sendiks gift Departments receive cakes.
the Lutheran Homes of Oconomowoc.
FBFC employees from the West Bend
cards, while much needed supplies were
The Menomonee Falls branch had
branch handed out $5 gift cards at the
donated to the Elmbrook Humane Socia great time handing out $10 gift cards
Family Video Store. Cleaning, beauty,
ety and the Brookfield Fire Department.
for
Woodman’s
and
delivering
snacks
and household supplies were delivered
The Hartland branch had a great time
to
the
teacher’s
lounge
at
Ben
Franklin
to the Washington County Family Promdelivering Panera Bagel Bags to the HartElementary.
Several
$10
chamber
gift
ise. Lunch was purchased for the lunch
land Police Station, Fire Department,
checks
were
handed
out
at
Blair’s
Hardladies at Greentree School, where one
Post Office, and Lake Country Caring.
ware,
and
a
continental
breakfast
was
employee stated, “No one has ever done
Employees handed out $5 Piggly Wiggly
delivered
to
the
Village
reception
staff
anything like this in the five years I’ve
gift cards to shoppers and $5 Culver’s gift
at
the
Menomonee
Falls
police
and
fire
worked here.” Breakfast from Dunn Bros
cards downtown. Customers at the Citgo
departments.
Coffee Shop was also delivered to Fair
were thrilled when FBFC offered to pay
Employees
from
the
Germantown
Park Elementary School for their staff
$10 toward their tank of gas.
branch
purchased
and
delivered
sheet
meeting.
In Oconomowoc, employees delivcakes
to
the
police
and
fire
departEmployees from the Mequon branch
ered treats to the Ixonia, Ashippun, and
ments.
Two
cakes
were
also
donated
donated
items to the Food Pantry at
Oconomowoc food pantries for the volto
the
Senior
Center.
Children’s
books
Family
Sharing
in Ozaukee County.
unteers to enjoy. The Stone Bank Fire
were
purchased
for
the
pediatric
ward
Customers
at
Fiddleheads
were thrilled
Department received dinner during
at
Community
Memorial
Hospital
in
to
receive
$5
bills
to
be
used
toward their
their monthly meeting, and $5 Subway
Menomonee
Falls,
while
a
$125
gift
card
purchase.
One
customer
joked,
“I just
gift cards were handed out to customers
for
Stein
Gardens
and
Gifts
was
delivered
had
a
root
canal
and
was
wondering
how
at St. Vincent De Paul. Meanwhile, Red
to
a
group
of
residents
at
the
Gables
to
I
would
pay
for
my
coffee.
This
is
perBox discounts were handed out to unsusbeautify
their
property.
The
Germanfect!”
Volunteers
delivered
Wal-Mart
gift
pecting customers at Pick n Save, stuffed
town
Police
Department
received
a
$125
cards
to
Advocates
of
Ozaukee,
and
pet
monkeys were delivered to patients at
donation
to
help
with
the
care
and
trainsupplies
were
purchased
for
the
Ozauthe ProHealth offices, Quiznos lunch
ing of Officer Rambo, a German shepkee campus of the Wisconsin Humane
boxes were delivered to the Western
herd
used
for
education
in
schools,
as
Society.
Lakes Dive Team, and free car washes
well
as
for
drug
detection.
In Grafton, random passersby
were handed out at Herr’s Mobil.
received
$5 bills while garden baskets
In Hartford, employees assisted resiOther Oconomowoc employees
were
donated
to the Ozaukee County
dents
at
the
Emerald
Place
with
crafts
handed out rolls of quarters at the local
Volunteer
Appreciation
event. Much to
while
others
took
turns
walking
dogs
at
laundromat and $10 Kwik Trip and Pigthe
appreciation
of
patients
and staff,
the
Washington
County
Humane
Society.
gly Wiggly gift cards to patients at the
cookies,
tea,
and
handmade
fleece
shawls
And
$100
was
also
donated
with
$50
Lake Area Free Clinic. A $150 donation
were
donated
to
the
Aurora
Cancer
Cenworth
of
cleaning
supplies
for
the
care
was made to New Heart, and car wash
ter.
Plates
of
cookies
were
delivered
to
of
the
animals
and
upkeep
of
the
facility.
tokens were handed out at the AshipFamily
Sharing
of
Ozaukee
County,
The
local
fire
department
was
happy
to
pun BP. More volunteers purchased
Starbucks gift cards were handed out
receive pizza for their monthly meetbird seed and filled the bird feeders at
outside the local Starbucks, and $5 bills
ing,
while
the
Boys
and
Girls
Club
of
local assisted living facilities, handed
were given away at the Target store.
Hartford
was
given
snack
items
and
playout gift cards at Hillside Cinema, and
ground
equipment
valued
at
over
$150.
held an ice cream social for residents at
24
May/June 2013
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25
Changing Scene
CBW Testifies on Public
Deposits Bill
MADISON—CBW Chairman Paul
Hoffmann and CBW President/CEO
Daryll Lund testified in May before the
Senate Financial Institutions and Rural
Issues committee on Senate Bill 66 that
would increase the payment under the
Wisconsin Public Deposit Guarantee
account (PDGA) from the current
$400,000 to $750,000. CBW initiated
this important legislation with lead
Senate sponsor Sen. Frank Lasee (R-De
Pere). Rep. Howard Marklein (R-Spring
Green) is the lead sponsor of the Assembly companion bill, Assembly Bill 57. SB
66 passed the Senate, 33 to 0, on May 15.
The current PDGA balance is
approximately $48.6 million. Since 1985,
net losses to the PDGA are just over
$600,000 and no losses have occurred
in the last decade. Community bankers
pledge securities to cover excess balances above the FDIC and PDGA limits. Increasing the PDGA limit would
simplify the process for banks pledging
securities, provide additional protections to taxpayer funds, and help keep
Wisconsin public deposits in Wisconsinbased banks to benefit local economic
development lending and job creation.
Waukesha State Bank
Growing
WAUKESHA—Waukesha State Bank
celebrates the grand opening of its 14th
full-service office, located in New Berlin, from June 24 to 29. Community
activities, new customer promotions,
and special events will mark the occasion. Monica R. Fransen will manage
the New Berlin office, which is located
on the corner of National Avenue and
Sunnyslope Road.
During the week, guests can enter
daily drawings to win a variety of gifts,
26
including an Apple® iPad® mini with
Wi-Fi; 32” LED HDTV; a Char-Broil
gas grill; and a dining package for New
Berlin area restaurants. Guests also can
spin a prize wheel to win a variety of
giveaways, including hats, shirts, and
travel mugs. On Saturday, June 29, grand
opening events will conclude with a free
“Family Fun Day,” featuring familyfriendly games with prizes, food, and
a special appearance by Friendly the
Eagle, the Waukesha State Bank children’s savings club mascot.
Waukesha State Bank purchased the
building from BMO Financial Group
in December 2012. The office features
5,800 square feet of interior space, three
drive-up lanes, and a drive-up ATM.
Badger Bank Ranks High
FORT ATKINSON—Seifred & Brew
LLC, a community bank risk management firm, named Badger Bank to its
2012 Top 15th Percentile of Community Banks. To receive this ranking,
Badger demonstrated “exemplary performance” in its total risk/return composite ranking.
Bank Named Friend of
Education
From left, Olivia Dachel, Tomahawk
High School Business Education, Tammy
Stiteley and Carol Swan, Tomahawk
Community Bank, and Sheila Briggs,
Assistant State Superintendent-Division
of Academic Excellence, Department of
Public Instruction
TOMAHAWK—Tomahawk Community Bank was named a 2013 Business
Friends of Education by the Wisconsin
Department of Public Instruction. The
bank was nominated by the local school
district and joined eight other businesses
statewide including Johnson Controls
Inc., Jones Dairy Farms, and the Kohler
Company for successful school-business
partnerships.
May/June 2013
The bank is one of only two in Wisconsin with a student-operated branch
(Tomahawk Hatchet Bank) in a high
school. The high school branch offers
opportunities for students to develop
marketing strategies and hone their
personal financial skills. The bank also
supports scholarships, job shadowing,
apprenticeships, curriculum assistance,
a summer teacher externship program,
field trips, and guest speakers.
Bank First National to
Open New Branch
MANITOWOC—First Manitowoc
Bankcorp Inc., the parent company of
Bank First National, plans to build a new
branch in Two Rivers with a three-lane
drive thru. The bank currently has a
branch in the community in a retrofitted grocery store and the new building
will be built on the same site. Kubala
Washatko Architects have designed the
new structure that’s expected to be completed either in late 2013 or early 2014.
Nicolet Buys Home, Base
Camp
GREEN BAY—When Nicolet Bankshares, the parent company of Nicolet
National Bank, announced it would
acquire the 11 branches of Medfordbased Mid-Wisconsin Bank last fall,
administrators knew they were going to
be making regular trips to Central Wisconsin. Instead of putting its employees up in hotels, the bank purchased a
2,500-square-foot home in Medford as
a base camp. Once the Mid-Wisconsin
branches are operating under the Nicolet
banner, the bank plans to put the house
up for sale and recoup its investment.
Westbury Goes Public
WEST BEND—Westbury Bank, formed
from the merger of West Bend Savings
Bank and Continental Savings Bank in
2009, has raised $50.9 million in a stock
sale to account holders. With the sale
of 5.09 million shares at $10 apiece, the
bank converts from a mutual company
to a publicly held bank. The shares,
which trade under the Nasdaq ticker
symbol “WBB,” jumped 35 percent on
the first day of trading on April 11.
continued on page 28
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May/June 2013
27
Middleton Bank Receives
Bauer 5-Star Rating
MIDDLETON—Middleton Community Bank received a 5-Star Superior
rating from Bauer Financial, a national
bank rating and research firm.
With assets of $240 million, the bank
has offices in Middleton, Belleville,
Brooklyn, and Sauk Prairie, and is building an office in Cross Plains.
Bank Has New, Old Name
IXONIA—ISB Community Bank has
announced that its name will again be
Ixonia Bank, reflecting its roots.
Dan Westrope, president and CEO,
said “Ixonia Bank is a unique name that
has historically signified strength and
soundness. Our customers, in all the
markets we serve, will
continue to have access
to all of our quality products and services. We
plan to continue distinguishing Ixonia Bank by our convenient
branch locations, knowledgeable and
professional staff, local lenders and decision makers, [and] wealth management...
Among our new services is mobile bank-
28
ing, which next week will make us one
of the few community banks offering the
convenience of making mobile deposits.
We will continue to innovate for the benefit of our customers.”
New capital has provided the bank
with the financial foundation to ensure its
soundness and financial independence.
Ixonia Bank has six locations throughout
Waukesha and Jefferson Counties.
De Forest Bank Rescues
Animal Shelter
DODGEVILLE—Last fall, the Iowa
County Humane Society was facing
the closure of its no-kill animal shelter.
The Society had only $300 in the bank,
$20,000 in monthly expenses, and some
130 animals. Thanks to a community
fund-raising campaign, which raised
$48,000 in two months, DMB Community Bank in De Forest felt comfortable
taking a risk to help the Society.
The bank held the deed to the
13,000-square-foot building, which
the animal shelter was renting when
the owner stopped making payments.
Although the building was worth
$650,000, the bank, which had already
paid $50,000 in back taxes, decided to
May/June 2013
offer it to the shelter for $400,000.
Park Bank Credit Card
Benefits Charity
MADISON—Park Bank has donated
$5,000 to Access Community Health
Centers as part of the financial institution’s Community Credit Card program. Each year, Park Bank identifies
a local charitable cause to benefit from
purchases made by holders of its Community Credit Card. Park Bank donates
25 cents to the selected charity each time
the card is used, no matter what the purchase amount.
This contribution was made in June
to Access Community Health Centers,
a local nonprofit organization that provides affordable health and dental care
to Dane County residents from locations
on East Washington Avenue and South
Park Street in Madison.
“Contributing the Community Card
funds to Access Community Health was
a natural fit. They help make our community stronger and provide invaluable
services for our local community,” said
Jim Hegenbarth, Park Bank’s president
and chief executive officer. “They are
building a new facility to better serve our
local area and it’s right on Park Street,
where the first Park Bank branch opened
in 1966.”
Park Bank’s history of providing sup-
port to Dane County organizations goes
beyond the monetary donations each
year to local not-for-profit groups. Park
Bank also encourages its employees to
be involved in the community through
tutoring at local schools, assisting the
elderly, serving food at local pantries, and
working with Junior Achievement.
People
Former CBW Chairman
Retires
and chaired CBW from 1999–2000. The
Bank of Monticello, with locations in
Monticello and Evansville, merged with
Greenwoods State Bank last year.
Bobholz: 30 Years with
Fire Department
From left: Rick McGuigan, CBW; Bonnie
and Michael Klassy, Daryll Lund, CBW
MONTICELLO—Friends and colleagues gathered in May to recognize
the retirement of Michael Klassy, former Community Bankers of Wisconsin
chairman and board member, and president of the Bank of Monticello. Klassy
served the Monticello bank for 33 years
COLUMBUS—The Beaver Dam Daily
Citizen profiled Randy Bobholz, president of Farmers &
Merchants Union
Bank in Columbus,
on April 24, highlighting his 30 years
with the volunteer
Friesland Fire Department. The Friesland
native remembers
when the fire station Randy Bobholz
was unheated and firefighters had to fill
up their trucks before heading out on
fire calls because they could not leave
water in the trucks. Bobholz joined the
department in 1982 and has been chief
since 1994. Reichert New EVP
MIDDLETON—Middleton Community Bank welcomes Rob Reichert as
executive vice president-business banking. Reichert, who was with Park Bank
in Madison, has more than 25 years of
banking experience.
Olson Promoted
BRODHEAD—The Bank of Brodhead
has promoted Michael Olson to vice
president of lending. Olson began his
career at the bank in 1996 and now
focuses primarily on consumer and
residential mortgage lending but is also
active in commercial and ag lending.
Staff Promotions
Announced
HORTONVILLE—Joe Peikert, president and CEO of Wolf River Community Bank, has announced two
promotions. Chelsea Hanson is now
vice president-compliance officer and
Robbie Miller was promoted to vice
president-accounting/operations.
River Cities Bank
Announces Promotions
WISCONSIN RAPIDS—River Cities
Bank recently announced the following
employee promotions:
Tom Marti has been promoted to
executive vice president/chief operating officer. He has been with River Cities Bank since it opened in 1997 and
manages the operations and compliance
departments.
Nathan Quinnell has been promoted
to vice president. Quinnell has been with
River Cities Bank for eight years and is
an integral part of the operations and
IT departments.
Skip Jackson Retires
LAKE MILLS—E. G. “Skip” Jackson,
senior vice president at the Bank of Lake
Mills, retired at the end of May after 34
years in banking. He served for the past
eight years with the Bank of Lake Mills
and is a former director of the Graduate
School of Banking in Madison.
Executive Transitions
MADISON—Wisconsin Bank & Trust
has named Kevin Tenpas as president and CEO. Tom
Wilkinson, who has
been with the company since 1998, will
continue as chairman.
Wisconsin Bank &
Trust is a subsidiary
of Heartland Finan- Kevin Tenpas
cial USA, Inc.
Schaaf Joins Bank of
New Glarus
NEW GLARUS—Ron Schaaf has joined
the Bank of New Glarus and Sugar River
Banks as vice-president commercial
lending manager. He will be based in
Monroe.
First State Bank
Welcomes Pyke
NEW LONDON—First State Bank wel-
May/June 2013
29
comes Audrey Pyke as vice president of
consumer banking. She has more than
24 years of banking and management
experience including most recently at
Fidelity National Bank in Appleton
where she was branch manager and
mortgage and consumer lender.
Barnett New SVP
Community Bank & Trust
SHEBOYGAN—Errol Barnett joins
Community Bank & Trust’s Glendale
office as senior vice president SBA/commercial lender.
Myricks to Lead North
Milwaukee State Bank
MILWAUKEE—Randolph Myricks, the
former interim president and chief executive officer of North Milwaukee State
Bank has had the “interim” removed
from his title. Myricks has served as
president/CEO since early 2013 when
previous CEO Erbert Johnson left.
Myricks also led the bank from 1993
to 2004.
Miller Joins InvestorsBank
WAUKESHA—InvestorsBank welcomes
Dawn Miller as vice president-compliance and audit manager.
Rosenthal New SVP of
Home Savings
MADISON—Home Savings Bank welcomes Matt Rosenthal as senior vice
president of community banking. Before
moving to Madison in 2005, Rosenthal
earned his MBA from the University
of Dubuque, taught marketing at Loras
College also in Iowa, and served as a
branch manager of a US Bank location
in Illinois.
Koopman Joins Town Bank
DELAFIELD—Stanley Koopman has
joined Town Bank as senior vice president, commercial banking.
Koopman brings some 30 years of experience to his new role. A former banking
examiner with the Federal Reserve Bank
of Chicago, Koopman has held positions
with M&I and AMCORE banks.
Rydeski New Controller
at Foundations
PEWAUKEE—Foundations Bank welcomes Amy Rydeski as vice president,
controller. In her new role, Rydeski will
manage the bank’s accounting functions
as well as oversee its financial and regulatory reporting.
Promotions at Bank of
Luxemburg
LUXEMBURG—The Bank of Luxemburg promoted DeAnna Tittel to vice
president of retail. In her new position,
Tittel will supervise the retail department at the bank’s seven offices and
oversee business development and customer service.
The bank also promoted Joel Williquette to vice president of information
technology. Williquette will become a
member of the bank’s executive team
and focus on financial and strategic
planning.
New Faces at Anchor
MADISON—AnchorBank has named
Scott Ciano as senior vice president and
head of its commercial and industrial
banking division.
Timothy Nemec was named first vice
president and head of AnchorBank’s
special assets division.
Cross Plains Welcomes
Ohlendorf
CROSS PLAINS—George Ohlendorf
has joined the State Bank of Cross Plains
as vice president-business relationship
manager. With his 20 years of experience
in the industry, Ohlendorf will serve
loan and deposit clients out of the bank’s
Waunakee location.
Bank, Busch Receive
Business Development
Award
WAUZEKA—Rick Busch, president of
Royal Bank, Gays Mills, accepted in May
the 2013 Business
Development
Award presented
by the Crawford
County Community Fund. The
award honored
the bank and its
president because
they “epitomize
the involvement that is essential to the
continued development of the county
and its business community.”
The bank has supported the work of
the Mississippi Valley Conservancy and
its Kickapoo Bottomland project, which
laid the foundation for the trail system
and improved recreational access to the
river. Additionally Busch and the bank
were instrumental in securing the site
for the Gays Mills Marketplace and supported events including the Crawford
County Fair, Driftless Area Art Festival,
and Applefest.
Directory of Community Banking Service Providers
Community bankers, you have a choice.
You can spend your valuable time finding
one prime candidate to fill your mid- to upper-level
position, or you can call me. I will present you with the
right person for the job in less time
with less hassle.
Del Garcia
30
Office location:
155 E. Capitol Dr., Ste. 5
Hartland, WI 53029
Phone: (262) 369-8109
Fax: (262) 369-8028
email: [email protected]
May/June 2013
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Compliance Program Highly Rated by Wisconsin Community Bankers
For the eleventh straight year CBW is sponsoring the Community Bankers for Compliance Program
(CBC) in 2013 with Young & Associates, a nationally recognized compliance consulting firm that
specializes in community banking. The CBC program is CBW’s most highly rated educational program.
The CBC program includes quarterly full-day seminars based on the most recent industry and regulatory developments, access to the Young & Associates
toll-free compliance hotline, and a CBC Members Only website hosted by Young & Associates that provides timely compliance information and tools.
The quarterly compliance seminars offer peer networking and include a regulatory update and a comprehensive discussion of one or more compliance
regulations. Attendees receive a compliance manual each quarter that is generally in excess of 200 pages that can and is used as a reference to the changing
regulations and as a training manual for other employees.
If you have questions, contact:
Sandy Gruber at 608.833.2384, [email protected]
or Rick McGuigan at 608.833.2382, [email protected]
Financial Institution
Products & Services
Offered by Your Association
◆ Financial Institution Bond
◆ Directors and Officers Liability
◆ Property, Casualty, and Workers’ Compensation
◆ Forced Placed Property Mortgage Protection
◆ $9.00 Life of loan flood determinations
Kevin Christians Denise Davis
Community Bankers Financial Services offers a wide variety of products and services for the benefit of you, our members. For additional information on any
of our financial institution programs call CBFS at 651.687.9080.

Peoples Bank Grows to Serve the Community . . . 4 S .798 Proposes

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