JULY 2017 WISCONSIN BANKERS ASSOCIATION FOUNDED 1892

Association the ongoing mission of joining the banking the job and the ability to “It’s a combination advocating on behalf industry in 1990. “I learn about other people of art and science priorities for of the industry to never thought, going and their businesses coming together,” he lawmakers, the media into banking, that 27 and their stories.” explained. “You have 2017-2018 and the public. years later I’d still be During the nearly three the analytical side On June 14, 2017, decades he’s been in with the numbers and Frederick J. Siemers, accounting, but then president of River there’s the human Cities Bank, Wisconsin ‘Stayin’ Alive’ Isn’t element of interpersonal Rapids, was installed as relationships and Chair of the Wisconsin Enough, Banks building networks. It’s Bankers Association Must Stay Relevant a nice balance.” for 2017-2018. During Speaking to WBA By Amber Seitz his term, Siemers will staff and his fellow lead the association board members at the and the industry in the industry, Siemers Board Installation new efforts to keep up A graduate of UW- a banker,” Siemers has held a variety on June 14, Siemers with the dramatic pace Oshkosh, Siemers admitted. “But, the of roles, and he has outlined his goal for of change in financial initially began his industry captivated me especially enjoyed the industry and the services and continue career in retail before by the variety within commercial lending. (continued on p. 12)

> Read about the 2017-2018 WBA Board of Directors, WBA’s objectives and the Board installation on pgs. 8 and 12 of this issue. Trend-Spotting and Bandwagon Hopping A strategic technology plan should guide your bank’s evolution By Amber Seitz industry as a whole, » To Change or Not to Change? The accelerated pace the pressure points of change in today’s vary by market region, While most banking industry means consumer demographics institutions will find that every institution and customer behaviors. it necessary to evolve must adapt in order For this reason, bank in order to thrive in to survive. However, leadership must look today’s new banking while new customer to their institution’s environment, every demands—especially strategic plan for bank’s market and for technology products guidance when goals are unique. and services—are determining which “While adapting to transforming the changes to implement. change is critical for (continued on p.20)

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Madison, WI 53718 WI Madison, PAID

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PRSRT STD PRSRT Wisconsin Bankers Association Bankers Wisconsin Trappers Turn Golf Club • Wisconsin Dells Register at www.wisbank.com/golf. 2 JULY 2017 Beginning with a Focus on the Future Below are excerpts from new some banks think about it. much more rapid now, we need WBA Chair Frederick Siemers’ The association will leaders who have the ability to remarks during the Board Message from continue to focus on serving adapt to that. BOLT remains an Installation Ceremony held the Chair our members through integral part of that equation. at the WBA offices on June Frederick J. advocacy. Every Wisconsin As I mentioned earlier, 14, during which Siemers Siemers bank should be involved on this year marks the 125th highlighted his goals for the some level in advocating for anniversary of the Wisconsin industry and the association. the banking industry. The Bankers Association. While I’d like to take this time to association will continue this it’s important to reflect on thank our Board of Directors business is about shift, and we effort in the upcoming year as this tremendous milestone as well as all the bankers in need to be ready to take on that we advocate for sound policy and all the accomplishments our state for the opportunity challenge. How do we continue and regulation for our industry achieved by the association and to lead our association during to make sure our industry as well as for proper oversight its members over the years, it the upcoming year. This is remains relevant in the eyes of of the shadow banking industry. is equally important for us to truly an honor and I will do my consumers, our customers and We will also continue to think about what we need to very best along with the rest opinion leaders? develop our young leaders in accomplish over the next 5, 10, of the officers and the Board Just like the banking the banking industry. BOLT 15, or even 125 years. of Directors to continue this industry needs to adapt to the has been a great program for Again, thank you for the association’s excellent record rapid pace of change, your this effort. Developing the honor of being selected to lead of outstanding service to its association should be nimble leaders of tomorrow will be the the WBA. With your help and member base. as well. We will question the difference-maker for the future support, I look forward to Both as an industry and relevance of everything we do and ensuring that we remain tackling the many challenges in as an association, we need to as an association and approach open to new ideas. Most of front of us, but more importantly, be looking to the future. The it through the lens of “does us have been in the industry taking advantage of the many business of doing business it add member value?” If the for 20 or 30 years, and in a opportunities that lie ahead. continues to evolve in a fast- association is forward reaching relatively stable environment Siemers is president of River changing marketplace. The and thinking, we can bring with a slow pace of change. Cities Bank, Wisconsin Rapids way we’ve historically done innovation to the table before That pace of change is so and the 2017-2018 WBA Chair.

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For more on this topic subscribe to bakertilly.com/insights. Baker Tilly refers to Baker Tilly Virchow Krause, LLP, an independently owned and managed member of Baker Tilly International. © 2017 Baker Tilly Virchow Krause, LLP JULY 2017 3 4 JULY 2017 Tangible Results Bankers’ Capitol Day efforts paying off in Madison By Jon Turke work with organizations and information on all types of WBA’s top legislative priority community coordinators to be issues and is organized to be Advocacy (Assembly Bill 280, relating visible where children spend relevant to people at different Update to incorporating financial their time. Our institutions levels of financial experience literacy into school curriculum) Jon Turke supply both financial resources or sophistication. Users can is gaining momentum in and human capital to ensure comment about the materials the state legislature. By the that financial literacy is a and whether they found it time you are reading this, the skill that will last a lifetime. helpful. The purpose Wisconsin State Assembly 6 Wisconsin’s banking industry is to help people obtain access will have passed the bill on Amy Vetrone, financial literacy also supports the Wisconsin to information that will help a broad, bipartisan basis. In coordinator at 1st National Bank, Bankers Foundation, a them make better-informed June, the Assembly Committee Berlin, testified on behalf of the Wisconsin non-stock financial decisions. on Financial Institutions WBA in support of AB 280. There corporation organized for AB 280 is a great of recommended passage of the is no substitute for a constituent charitable and education example of what a large turnout bill on a unanimous 13-0 vote. coming to Madison to make purposes dedicated to at Capitol Day can do for legisla- Thanks to your help at Capitol the case directly to his or her promoting financial literacy tion WBA supports. Two weeks Day, your legislators are legislator. Thank you, Amy! and financial responsibility after our event, the Assembly understanding the need for this (See p. 26 for more about Amy‘s to the public and to broaden Financial Institutions education in our classrooms. testimony in support of AB 280.) consumer empowerment in Committee set the first hearing Financial literacy is an 5 the financial services industry date for this bill. To help make important aspect of every primarily through research the case at the hearing, Amy person’s life. Knowing how and education. The WBF Vetrone, financial literacy to save for retirement and different standards and ways assists consumers by providing coordinator at 1st National distinguishing between a of going about the personal information that will help them Bank, Berlin, testified on good and a bad loan will keep finance crisis. According to make sound choices about behalf of WBA in support of Americans financially stable the Council for Economic financial products, offering the bill. Vetrone made the case through good and bad times. Education’s Economics and grants to advance the education on behalf of the industry and If a person is not financially Personal Finance Education of instructors in both the gave great examples of what literate, they are open to being Report, states that have public and private sectors, and her bank and others do in the taken advantage of and are mandated financial education providing consumer education community to support our susceptible to a financially are seeing positive impacts. through seminars and students. There is no substitute unstable future. Financial Banks are here to support performing research. WBF also for a constituent coming to literacy impacts the national our schools with implementing hosts a website for financial Madison to make the case economic landscape, but must financial literacy into the literacy curriculum called directly to his or her legislator. be dealt with at the state level. curriculum. Not only do we MyMazuma.com. The website Turke is WBA director – govern- States across America have visit classrooms, but we also provides links to financial ment relations.

Technology, Design Services Available for WBA Members Contact: Laurie Richards also believe the relationships The WBA Board of Directors For more information please has approved the following contact WBA at sales@wisbank. Tel: 608/824-8205 they’ve established with service providers as new com or visit www.wisbank.com. [email protected] their clients over the years WBA Associate Members. Lerdahl Business Interiors have been the backbone of has been in business since their business. Rather than Kasasa institutions by attracting, 1984. During this time, they focusing on a one-time sale, www.kasasa.com engaging and retaining have seen design trends and they value the long-term Austin, Texas consumers. Kasasa does this styles evolve. Their interior relationships they foster with Contact: Michelle Jacobi through branded retail products, design team enthusiastically their clients. Lerdahl is also Tel: 512/349-4421 world class marketing and guarantees that they stay up-to- very proud to be a part of this [email protected] expert consulting. date with the current design community, and giving back is Based in Austin, Texas For more information, and construction trends that a very important part of their with 350 employees, Kasasa® please visit www.kasasa.com. their clients want and need. business philosophy. They are proud of being a is a financial technology and WBA Associate membership marketing technology company Lerdahl Business Interiors family-owned business and should not be construed as an committed to driving results www.lerdahl.com take pride in treating their staff endorsement of the company’s for community financial Middleton, Wis. as part of the family. They products or services by the WBA. JULY 2017 5

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WBA Comments on Remittance and HMDA Rules Summary of recent regarding multifamily The WBA Legal Department dwellings, as it is our For copies of this or other WBA comment letters below advocates for the industry by belief that a loan secured comment letters, please contact WBA recently submitted writing comment letters to by five or more separate the WBA Legal Department at 608/441-1200 or visit www. two comment letters to federal and state regulators dwellings in more than one wisbank.com/CommentLetters. the Consumer Financial on proposals affecting the location does not meet the Protection Bureau (CFPB). industry and by filing friend- final rule’s definition of In a letter regarding the of-the-court briefs at the multifamily dwelling. CFPB’s assessment of request of WBA members regulations related to consumer and per approval by the remittance transfers under WBA Board of Directors. the Electronic Fund Transfer Act, WBA recommended Legal Hotline: that—in addition to the In a letter regarding bureau’s stated intent to focus CFPB’s proposed amendments WBA Program Provides Free Assistance on ways to promote access, to the 2015 HMDA final The WBA Legal Department within one business day for efficiency and limited market rule, WBA supported most does more than address legal more complex questions. disruption by considering how of the amendments because concerns for the association; That quick turn-around remittance volumes, prices and they provide clarification. it provides tangible assistance time allows banks to stay competition have changed— Additionally, WBA advocated to member banks via its on top of the various technical the bureau also consider for voluntary reporting free legal call program. The and compliance-related the increased costs and fees open-end lines of credit and association’s team of attorneys challenges they face on a imposed as a result of the rule, applications for open-end lines work to relieve some of the day-to-day basis. whether the expected utility of of credit that are excluded industry’s compliance pressure Most legal inquiries disclosures has been achieved, transactions because the as a timely resource for a wide addressed by WBA’s three the benefit of cancellation financial institution originated variety of legal inquiries. attorneys are technical and provisions weighed against fewer than 100 open-end lines WBA member bankers compliance-related, and it inconvenience and delays of credit in either of the two turn to this free resource by has been that way since the for consumers, whether the preceding calendar years, as submitting their inquiry via program began 25 years ago. refund provision has been truly WBA believes it is important email (wbalegal@wisbank. However, member questions beneficial, and the harm to memorialize such language com) or calling the hotline have become more and more of potentially reduced access in the official text, as opposed at 608/441-1200, and typically complex due to the explosion as a result of the low safe to the commentary. WBA receive a response to their of regulation over the past harbor threshold. opposed adding comments inquiry the same day or few years. JULY 2017 7

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Introducing the 2017-2018 WBA Board of Directors Leaders from across Wisconsin’s banking industry On June 14, 2017, the 2017- 2018 WBA Board of Directors Installation Ceremony took place at the WBA offices in Madison. New officers were installed and new directors welcomed. New New chair Frederick chair Frederick Siemers, Siemers addresses the president of River Cities Bank, bankers and WBA staff who gathered for the in- Wisconsin Rapids, told the stallation on June 14 at the gathered bankers and WBA WBA offices in Madison. staff that the association’s After the installation ceremony, members of the 2016-2017 and 2017-2018 WBA Board of Directors headed focus during his term will be to the Capitol to meet with state legislators about a budget amendment WBA is seeking that would create tax on preparing the industry for parity with credit unions. Along with the WBA committee chairs, the Board met with Assembly Speaker Robin the future. “The way we’ve Vos, Joint Finance Committee Co-Chairs Rep. John Nygren and Sen. Alberta Darling, Joint Finance Committee historically done business is Tax Leader Rep. Dale Kooyenga, Assembly Majority Leader Jim Steineke, and Financial Institutions Committee about to shift, and dramatically. Chairs Reps. Terry Katsma and Dave Craig. So we need to be ready to take Seated (left to right): WBA Vice Chair Mark Meloy, First Business Bank, Madison; WBA Chair-Elect David on that challenge,” he said. You Werner, Park Bank, Milwaukee; WBA Chair Frederick Siemers, River Cities Bank, Wisconsin Rapids; and WBA Past Chair Cynthia Erdman, Partnership Bank, Tomah. Standing (left to right): Scot Thompson, Denmark State can read more about Siemers’ Bank; Christopher Del Moral-Niles, Associated Bank, Green Bay; Sang Kim, Wells Fargo, Milwaukee; departing priorities for WBA on pgs. 1 member Thomas Jensen, 1st National Bank of Berlin; Stan Leedle, Choice Bank, Oshkosh; departing member and 12 of this issue. David Schuelke, Spring Bank, Brookfield; departing member James Mayo, Security Financial Bank, Durand; departing member Douglas Martin, Livingston State Bank, Platteville; Scott Kopp, Bank of Galesville; Mary See pgs. 1 and 12 Bomkamp, Highland State Bank; Ken Thompson, Capitol Bank, Madison; departing member Charlie Schmalz, for more about East Wisconsin Savings Bank, Kaukauna; and Tom Van Pelt, Citizens State Bank, Hudson. new WBA Chair Fred Siemers.

In addition to Siemers, continue serving on the board New WBA Committee Chairs WBA officers for 2017-2018 following his time filling the WBA are Chair-Elect David P. one-year unexpired term left committees Werner, president and CEO vacant by Werner’s selection as serve a of Park Bank, Milwaukee; WBA Vice Chair in 2016. vital role Vice Chair Mark Meloy, Bankers continuing their in guiding CEO of First Business Bank, terms on the board are: the WBA’s service to its Madison; and Past Chair Mary Bomkamp, president/ members, Cynthia Erdman, president of CEO, Highland State Bank; new WBA Partnership Bank, Tomah. Dennis Doyle, president/ Chair WBA president/CEO Rose CEO, Great Midwest Bank, Frederick Oswald Poels welcomed S.S.B., Brookfield; Sang Siemers, the new board members and Kim, regional president – WI/ River Cities Bank, Wisconsin Rapids, told incoming committee chairs after the WBA Board of Directors installation ceremony. Afterward, the thanked those rotating off this MI, Wells Fargo, Milwaukee; committee chairs gathered in the Capitol building with the WBA Board year for their service to the Paul Kohler, president and to meet with legislative leaders before re-convening at WBA for their association and the industry. CEO, Charter Bank, Eau orientation and strategy session. Front row (left to right): Jason Wilke, New board members beginning Claire; Scott Kopp, president/ Associated Bank, Green Bay, Trust Section Board; Karen Blok, First Bank their three-year terms are: CEO, Bank of Galesville; of Baldwin, Mortgage Lending Committee; Lenore Breit, Peoples State Christopher Del Moral- Stan Leedle, executive vice Bank, Wausau, Financial Crimes Committee; Jennifer Stein, TSB Bank, Lomira, FIPCO Software Users’ Committee. Back row (left to right): Tim Niles, CFO, Associated Bank, president, Choice Bank, Buttke, Nicolet National Bank, Green Bay, Ag Bankers Section Board; Green Bay; Scot Thompson, Oshkosh; Bill McDonald, Rick Beutler, Spring Bank, Brookfield, Retail Section Board; Jeff Schmid, president/CEO, Denmark CEO, Greenwoods State Fox River State Bank, Burlington, Government Relations Committee; State Bank; and Tom Van Bank, Lake Mills; Mark Kari Davis, State Bank of Cross Plains, Human Resources Committee. Pelt, president and CEO, Mohr, president/CEO, First Not pictured: Sara Baker, Ladysmith Federal Savings and Loan, Marketing Committee; Mike Gargaro, Coulee Bank, La Crosse, BOLT Citizens State Bank, Hudson. Bank Financial Centre, Board; and Amy Vetrone, 1st National Bank, Berlin, Financial Literacy In addition, Ken Thompson, Oconomowoc; and Marty Advisory Board. president and CEO, Capitol Reinhart, CEO, Partners Bank Bank, Madison was selected to of Wisconsin, Spencer. JULY 2017 9 Eleventh Annual Photo Contest Winners Announced! Sneak peek of the 2018 Scenes of Wisconsin calendar now available

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A Trip Down Memory Lane: Computerized Forgery: High Tech Hits Check Fraud By Rick McGuigan, $10,000 a would-be forger can not a restricted commodity. » Do routing numbers on WBA BancInsure Agency, Inc. purchase a complete desktop Normally, the forger targets checks reflect light? If they do, According to the 1983 ABA publishing system, including a companies or banks with large they probably weren’t printed Bank Insurance Survey, check PC, magnetic ink laser printer balances and a high volume with magnetic ink. fraud losses for that year and a high-resolution scanner. of checks. The sheer volume » If you remit small refund totaled $184.1 million (with From the privacy of his or her of activity in the accounts can or payment checks to strangers, a note that “figures do not home, without accomplices, cause the counterfeit draws to move these payments through a fully reflect industry status the check fraud artist can go undetected until the account checking account with a small due to underreporting”). forge almost any printed statement is reconciled, which balance to minimize loss poten- By 1988, the situation had document – including cashiers’ may not occur for months. tial. Keep a separate account for worsened dramatically, with checks, business checks, larger, established customers. personal checks and bank What Should Banks » Customers should examine the survey reporting check and Businesses Do? fraud losses of $864.2 million! notes. These documents can be and reconcile their account produced so accurately as to be According to a recent issue statements as soon as possible. Interestingly, during that same of Forbes, here are some pre- period employee dishonesty virtually undetectable. Keep in mind that technol- The most common desktop cautions and inspection tips ogies such as desktop production losses actually dropped bankers and their customers can significantly from $636.8 fraud scheme involves the con and FAX transmission have artist obtaining a legitimate follow to protect themselves implications for a variety of million to $272.2 million. So from computer counterfeits: what caused this explosion in document from a large security situations – and can be » Use color on important counterfeit check losses? corporation or bank. This used to fraudulently produce could be a refund check, a documents such as checks and anything from phony hiring The Problem purchase order or a purchased purchase orders. Color is more recommendations and college of Desktop Forgery cashier’s check. The forger difficult to accurately produce transcripts to fake expense In large part, affordable can then use the computer to than black and white. account receipts, letters of computers are beginning to read, modify and reprint the » Use nonstandard safety credit and property records. create a new phenomenon – check on real check paper – paper and restrict its availability. Originally published in the desktop forgery. For under which is easily obtained from » Check for perforations on February 1990 edition of the suppliers as check paper is at least one side of a check. Wisconsin Banking Digest.

12 RECOGNIZING NOTABLE HISTORICAL EVENTS, 1961-1970 YEARS 5 1963 1965 1968 National banking celebrates WBA announces plans to Banks being opening branches 1961 its 100th anniversary. The help banks statewide de- in March. Ninety-five branches WBA challenges the savings- WBA convention turns velop television advertising. (57 of state-chartered banks and-loan association raucous when a faction from and 38 of national banks) are deposit system, saying it is the Independent Bankers 1966 approved by August 1970. illegal. First National Bank Association tries to elect The U.S. postal savings of Wisconsin Rapids their own slate of officers. system is finally discon- 1970 becomes the first U.S. IBA candidates eventually tinued, decades after Bank income increases 24 business to build a nuclear win the election in balloting outliving its usefulness; percent over the previous fallout shelter for its delayed until October. Wisconsin bankers had year. Net income for all employees and their families; decried the system as Wisconsin banks reaches the shelter is located 1964 unnecessary competition $76.9 million. M&I Bank underneath the bank’s new A new WBA program since the 1920s. Stock Corp. acquires its 11th drive-up facility. provides training films to bank, the Ripon State Bank. banks. More than 100 banks 1967 Bryan K. Koontz is named 1962 begin making college- Branch banking legislation, WBA’s Executive Director. Banks donate $5,300 to student loans under the dubbed the “Plum City” build a replica of a pioneer United Student Aid Funds bill after a bank-less Pierce Historical events compiled bank near Cassville. State program. A few stubborn County community, finally from “Good as Gold — A bank deposits exceed banks still charge an passes the Legislature and History of Banking in Wiscon- $2.8 billion. Five new exchange on checks; ABA is signed into law by Gov. sin,” Copyright © 1992 by banks open. urges all to clear at par. Warren P. Knowles. Wisconsin Bankers Association. Future issues of Wisconsin Banker will feature historical events from the past 125 years. JULY 2017 11 Still in Vogue! Old investment strategies are viable today By Jim Reber Treasury notes is 60 basis If your community bank’s This generation of investment points (.60 percent). Over portfolio includes tax-frees, portfolio managers may be the last decade, which included you know that seasoned forced to contend with a host some of the steepest curves municipal issues continue of issues that hadn’t need in a generation, the average to mature and get called. tackling for more than a has been 85 basis points. In fact, these roll-offs have decade. You may have heard: So while the fun has had a big impact on municipal » Higher rates will create they reach a certain remaining diminished somewhat, it’s spreads, which continue unrealized losses in your life, and reinvesting into a still a reasonably good bet. to be tight, as investors struggle investment portfolio; longer bullet. As long as the to find the limited supply » Disintermediation by curve has some slope, it’s a Pre-Re Munis are a Hit of Ban-Qualified munis. your depositors will create money maker. There may be some funding challenges; As of this writing, the money in your pocket that » Bonds with embedded difference in the 2- and 5-year you didn’t know about. (continued on p. 21) options will extend as they become out-of-the-money; and » Management of income through the realization of losses OFFER MORE TO YOUR CUSTOMERS will demand some thought. The underlying presumption in all of this is With Inlanta’s Third Party Origination that interest rates are on the Solutions, you have loan options for way up. In fact, the bond your customers. market has been predicting this since 2008, when the interest rate curve steepened dramatically. Although HomePossible® HomeReady® the shape to the curve has fluctuated since, it is still normally sloped. USDA As the year progresses, HomeStyle® Rural there is growing suspicion that (Renovation) Development the Fed’s rate hike train may be traveling the tracks more slowly than had been thought at the beginning of 2017. There are more reasons for this FHA Veterans sentiment than we have room Loans to explore here, but the salient point for community bank portfolio managers is that some FHA 203k Conventional fundamental strategies utilized (Renovation) in the last ten years are still effective right now. Contact Us Today!

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Chair Siemers (continued from p. 1) 6 2017-2018 Goal … Get to Know the New Chair: association over the next 12 » Prepare the banking industry for future months: to become better » Siemers is a founding member prepared for the operational changes through leadership, education, of River Cities Bank, joining the advocacy and increased awareness. de novo as head of the lending and technological changes function in 1997. the industry will face in » He serves on the board of his the near future. “The way local YMCA, Incourage we’ve historically done Community Foundation, » Preparing for the Future business is about to shift, his term as WBA Chair is to and the Heart of Wisconsin and dramatically,” Siemers figure out how to make sure as an Association Chamber of Commerce. Wisconsin’s banking industry Maintaining FDIC explained. “We need to be » Siemers also served the ready to take that on.” remains relevant in the eyes of insurance as a differentiating banking industry on the board consumers and customers far value proposition is part of the of the Community Bankers » Preparing for the Future into the future. association’s role in preparing of Wisconsin prior to CBW’s as an Industry To accomplish that goal, the industry for the future, merger with WBA. According to Scratch’s Siemers says the industry’s according to Siemers. During 5 “Millennial Disruption Index,” leaders will need to re-focus his tenure as WBA Chair, banking is the industry on long-term strategic goals Siemers intends to ensure facing the highest risk of that may have been put on the association continues to bring innovation to the table disruption caused by the largest the back-burner during the advocate for sound policy before some of the banks think generation in American history. immediacy of the recession and regulation on behalf of about it.” and its lengthy fallout. “During the banking industry, with an Finally, Siemers has set the recession, we became so added focus to seek proper 6 a goal for the association to internally focused—and for oversight for the shadow double-down on its efforts “The way we‘ve historically the right reasons—that we banking industry. “We can’t to promote the banking done business is about to shift, neglected some very important be crippled by regulations industry as a career and to and dramatically. We need to be long-view strategic thinking that those outside of our foster the development of ready to take that on.” about what it will take to industry are not beholden to,” banking’s young leaders. “The 5 remain viable,” Siemers said. he explained. “If the banking importance of developing “Now is the time to correct industry isn’t at the forefront of leaders will be the difference- that oversight.” Siemers the payment system as a safe maker for the future by ensuring reflects often on how Amazon store for people’s assets, you we remain open to new ideas,” “Like it or not, they’re going dramatically altered the create the potential for a lot of he said, explaining that for to force change upon us,” value proposition of the retail volatility in the economy.” most of today’s bankers who Siemers told WBA. And the industry, and wonders if (or As a mirror of the have been in the industry for influx of millennials into the when) a fintech business will industry, Siemers predicts 15-30 years, the environment ranks of bank customers isn’t come along and do the same that the WBA will also need has been relatively stable. the only force driving the thing to banking. to adapt in order to thrive. “That pace of change is so much financial services industry’s However, when it comes “As we explore relevance in more rapid now, we need leaders evolution; it’s accompanied to competing with fintechs, a fast-changing marketplace, who have the ability to adapt by the rapid development of Siemers expressed confidence our association will need to to that.” Siemers recommended new and faster technologies, an in the industry, citing the be nimble,” he said. “The the BOLT (Building Our increasingly global economy, strength and stability that membership’s expectations and Leaders of Tommorow) and a host of other factors. most Wisconsin banks share. preferences are changing.” As program as a good example The crux of the issue, “We have a tremendous value chair, Siemers will direct the of how WBA is already according to Siemers, is that proposition in the safety WBA to examine everything working to accomplish this banking—as an industry— and soundness for deposits, the association does through goal. “BOLT has been a great hasn’t been keeping up. especially with backing of the lens of member value, addition in helping us develop “Coming out of the recession, the FDIC for deposits and assessing what value is added our young leaders,” he said. we were all in survival mode,” strong local knowledge and if it arrives in the timely Working together, the he explained. “It was all of the marketplace for manner the membership needs. banking industry and the WBA about ‘sustain and maintain’ lending decisions,” he said. “As the industry needs to be will rise to the challenge of and digesting a bevy of new “Consumers can be confident willing to take on more risk remaining relevant even in regulations. That kept us very in where they’re leaving their in adopting technology and today’s fast-changing world. internally focused, while in money.” That confidence creating products, so does the the meantime, the rest of the is something fintechs don’t association,” Siemers said. “We Seitz is WBA operations world continued to move have to offer, and as such, really mirror each other. If the manager – senior writer. forward.” That’s why Siemers’ banks must fight not to lose association is forward-reaching * www.millennialdisruption goal for the industry during that advantage. and forward-thinking they can index.com JULY 2017 13

Exploring aspects of bank operations, Exploring AspEcts of BAnk techology and SECUR-I.T. opErAtions, tEchnology And sEcurity c o n f e r e n c e Sept. 26-27, 2017 l Wisconsin Dells security Whether your goal is to keep your bank at the forefront of you really need to know about financial services. Wetherington frustrated at work will enjoy. technological tools, products fintechs, branch banking will get to the bottom line on “These People Drive Me Crazy” and services, or you are trends and other keys to the fintechs, Gen Y and branch will discuss ideas and provide charged with protecting your future of financial services. transformation, and explain solutions for improving bank and your customers Falling victim to hyperbole the real technology challenges, communication, teamwork, from ever-evolving criminal that hardens into “conventional security threats, and operational production and morale… and threats, you need to keep your wisdom” (such as “fintechs are opportunities ahead. help you make sure you no skills and your knowledge disrupting banks and Gen Y On day two of the conference, longer let others drive you crazy! sharp. Stay one step ahead hates banks more than dentists!”) Honey Shelton, InterAction Read about the other speakers of both technological and can do real damage to banks Training, will lead a keynote and breakout sessions online at physical threats to your bank navigating the future of everyone who has ever felt www.wisbank.com/Secur-IT. at this year’s WBA Secur-I.T. Conference. Held September 26-27 in Wisconsin Dells, this conference explores aspects of bank operations, technology and security. The conference will bring together banking professionals charged with defending their Bank Stock Loans and Bank Holding Company institutions from both physical Stock Loans Done the Simple Way and technological threats. Organ- ized into breakout sessions BANK MERGERS AND ACQUISITION LOANS in three separate tracks – AND REFINANCES UP TO $20 MILLION Operations, Technology and · Approval generally within 48 hours. Security – the conference is · In many cases loans can be started and completed in ideal for bankers who want to less than two weeks. customize their own profes- · If the Federal Reserve approves it we likely can get the sional development. For deal done for you. example, a veteran security · Standard Commercial Loan Documents in most cases. Limited or no special/extra covenants. officer who wants to hone his · · No Correspondent Bank Account relationship required. skills and supplement them · No origination costs. with education on the IT side · Low interest rates. may attend mostly security · Principal payments in most cases determined with sessions with a few from the borrower input on a year by year basis. technology on the side. Or, an · In many circumstances we will accept capital growth IT officer recently put in charge instead of principal reduction. We will come to you. Most loans initiated and closed at of all digital security may attend · borrower’s home or office. a mix of sessions from both tracks. All attendees have the You will deal directly with a lender who is a CPA and/or an attorney who freedom to choose the sessions understands the banking industry. Although we can not give direct advice, that are the best fit to their we have 30 years of experience in this type of lending and can make individual education goals. your job far less stressful and time consuming. We will understand your The conference’s keynote transaction. You don’t need to educate the lender. speakers are well-known Our belief is to make the loan and then stay out of the banker’s way and let experts in technology and you do your job. security. Lee Wetherington, Profit Stars, will open the Call Rick Gerber at 715-868-3502 or conference with a session email [email protected]. called “The Future Bottom- Member of FDIC Equal Housing Lender Lined (and Why What You’ve Heard is Wrong).” This engaging keynote will separate the hype from what 14 JULY 2017 Bulletin Board News about people working in Wisconsin’s financial institutions

Promotions and New Hires Port Washington Augusta Port Washington State Bank Unity Bank has announced has promoted Joel Dykstra the appointment of Teresa (pictured) to vice president – (“Terry”) Rosengarten senior business lending and (pictured) as president, Rosengarten Moats Moran Vanden Heuvel Schroeter hired John P. Schumacher effective May 1, 2017. As (pictured) and Brian C. President, Rosengarten will Gold (pictured) to the head both the Wisconsin and positions of vice president – the Minnesota charters of business banking. Unity Bank, replacing Terry Szydel and Rachel Goodell Sterr Sanchez Heroux Dykstra Schumacher Superior respectively. Szydel will National Bank of Commerce be retiring after working has announced six promotions: (pictured) as marketing Milwaukee at Unity Bank in Augusta Shaw Adams (pictured) to coordinator and Gina Vanden North Shore Bank has hired for many years. Goodell assistant vice president – Heuvel (pictured) as assistant Jessica Sanchez (pictured) as remains the CEO for Unity area manager; Linda Emmert relationship manager. a new mortgage loan originator Bank Group. (pictured) to vice president for Milwaukee and southeast Manitowoc – controller; Jennifer Hill Wisconsin communities. Horicon Investors Community Bank (pictured) to vice president – Tracy Moats (pictured) has has named Scott Schroeter Peshtigo retail loan operations director; joined Horicon Bank as a (pictured) as agricultural The Peshtigo National Bank Troy Lambert (pictured) mortgage lender. banking officer; Mark Sterr has announced the promotion to vice president – eServices director; and Jaron Larson Hortonville (pictured) has joined the bank’s of Kelly Heroux (pictured) to (pictured) and Megan Wedel Wolf River Community Bank Appleton location as vice president and CEO, effective (pictured) to assistant vice has hired Lauren Moran president – senior business June 1, 2017. Heroux joined banking officer. the bank in 2004 and most president – commercial banker. recently served as executive vice president of operations. (continued on p. 15)

Community State Bank Hosts Fourth Annual Business Economic Forum Community State Bank hosted their fourth annual Business Economic Forum May 12 in Lake Geneva. Over 200 business professionals and guests turned out to hear featured speakers, including House Speaker Paul Ryan and Speaker of the Wisconsin State Assembly Robin Vos.

» At left: Community State Bank CEO and President, Scott Huedepohl introduced Speaker Paul Ryan (far left) at the Business Economic Forum. » At right: House Speaker Paul Ryan and Speaker of the Wisconsin State Assembly Robin Vos (far right) answered a variety of questions from forum guests ranging from healthcare reform, social security, border security, employment and education.

Have good news? To submit a notice, please email [email protected]. Or mail entries to WBA Bulletin Board, 4721 South Biltmore Lane, Madison, WI 53718. Send photos as JPEG files. Questions? Contact WBA’s Amber Seitz at 608/441-1237 or [email protected]. JULY 2017 15 Bulletin Board News about people working in Wisconsin’s financial institutions

Promotions and New Hires after nearly 25 years of (continued from p. 14) service to the bank and almost 40 years in the Waukesha financial services industry. First Federal Bank of Congratulations! Wisconsin has announced Gold Adams Emmert Hill Lambert several staff changes: the In Memoriam bank has promoted Michael Madison E. Berry (pictured) to assistant Capitol Bank vice president, commercial has relayed the loan officer and hired Victoria sad news of Andes (pictured) and Larson Wedel Berry Andes Wiesneski the passing of Dolister William Wiesneski (pictured) Jim Dolister to the role of senior residential (pictured) on May 11. Dolister and consumer lending was the bank’s founding officer and Joseph G. president and leaves a legacy Bogenberger (pictured) based on a culture of empathy, as vice president, senior Bogenberger Pfalz Shepard Smith Sturm professionalism and integrity. commercial loan officer. He served Wisconsin’s Waukesha State Bank has banking industry for over 50 promoted Heather Pfalz Wisconsin Dells Retirement years, 23 of them at Capitol (pictured) to vice president The Bank of Wisconsin Dells La Crosse Bank. In 2016, Dolister was – bank manager and Keith has hired Tammy Smith Coulee Bank CEO Brad inducted into the WBA Fifty Shepard (pictured) to assistant (pictured) as vice president Sturm (pictured) will be Year Club in recognition of vice president – bank manager. of operations. retiring on March 31, 2018 fifty years in banking industry.

Horicon Bank Named a Top

Workplace for Fifth Year Call me at 608.234.1438 Denise Bunbury Based in Madison, WI, serving Wisconsin and Illinois.

Why choose Bell as your bank’s lending partner? As your partner, we won’t have to contact someone in San Francisco to make the call. You’ll get a loan decision as rapidly as you need it.

Horicon Bank has been awarded the Top Workplace honor by Together,let’s make it happen. the Milwaukee Journal Sentinel for the fifth year in a row! Top Workplace results are calculated based on results of an extensive survey process conducted by Workplace Dynamics, LLC. The list of top places to work in the state is determined based solely on • Commercial & ag participation loans employee feedback. Congratulations! Pictured above (left to right): • Bank stock & ownership loans Meredith Strieff, Doreen Hartgerink, Fred C. Schwertfeger and • Bank building financing Joelle Lohr. • Business & personal loans for bankers bellbanks.com | Member FDIC 14503-V2 16 JULY 2017

Wisconsin Bankers Association Visit www.wisbank.com/education to find out more about these programs, register or browse a full list of WBA Education events. Calendar of Events Please direct questions to the WBA Education Department at July – December 2017 608/441-1252 or [email protected].

Baseball Games Schools WBA Featured Events Workshops and On-Demand Webinar WBA 125th Anniversary Minor WBA Agricultural Lndg. School League Baseball Games (July) Aug. 2-4 | Wausau/Rothschild WBA IRA Workshops: IRA Essentials 7/11 | Eau Claire Oct. 10 | Madison Oct. 12 | Neenah Oct. 18 | Eau Claire Introduction to Commercial 7/13 | Madison The IRA Essentials workshops will give attendees a solid Lending School (www.wisbank.com/Baseball Sept. 6-8 | De Pere foundation of IRA knowledge. Exercises are included through- or see ad on p. 25.) out the day to help participants apply information to job-related Supervisor Boot Camp situations. Attendees will leave this session able to work with Sept. 19-20 | Wisconsin Dells IRA owners and process basic IRA transactions with confidence. Conferences Loan Compliance School This is a beginner’s session; no previous IRA knowledge Sept. 25-29 | Wisconsin Dells is assumed. Management Conference Real Estate Compliance School & Expo Sept. 27-29 | Wisconsin Dells WBA IRA Workshops: Advanced Workshops Sept. 12-13 | Wisconsin Dells Oct. 11 | Madison Oct. 13 | Neenah Oct. 19 | Eau Claire (See article on pgs. 18-19.) Personal Banker School Oct. 17-18 | Wisconsin Dells Advanced IRAs builds on the attendee basic IRA knowledge Secur-I.T.: to address some of the more complex IRA issues that their Deposit Compliance School Exploring Bank Operations, financial organization may handle. This is an advanced session; and Alumni Update Seminar Technology and Security previous IRA knowledge is assumed. The Instructor uses | Nov. 6-8 | Wisconsin Dells Sept. 26-27 Wisconsin Dells real-world exercises to help participants apply information to (See article on p. 13.) job-relate situations. LEAD360 Conference Visit www.wisbank.com/Search?type=all&q=ira to select the Oct. 24-25 | Wisconsin Dells Seminars/Workshops workshop level and date/location of your choice. (Visit www.fipco.com/events.) Home Mortgage Disclosure Act Workshop Wisconsin Consumer Act and July 24 | Wisconsin Dells and Wisconsin Marital Property Act FIPCO Events (See WBA Featured Events.) On-Demand Webinar IRA Essentials Workshops This webinar is designed to provide your financial institution Threat Intelligence Briefings Oct. 10 | Madison Aug. 15 | Marion and lenders with the essential facts and rules necessary Oct. 12 | Neenah to have a clear understanding of the Wisconsin Consumer Dec. 14 | Madison Oct. 18 | Eau Claire Act (WCA) and Wisconsin’s Marital Property Act (MPA). (See WBA Featured Events.) FIPCO Compliance & Software Purchase this webinar here: https://shop.wisbank.com/ Forum (Loan + Mortgage) IRA Advanced Workshops products/wba-wisconsin-consumer-act-and-wisconsin- Oct. 11-12 | Stevens Point Oct. 11 | Madison marital-property-act-webinar. (Visit www.fipco.com/events.) Oct. 13 | Neenah Oct. 19 | Eau Claire Home Mortgage Disclosure Act Workshop (See WBA Featured Events.) July 24 | Wisconsin Dells Golf Outing While the Home Mortgage Disclosure Act (HMDA) has existed for many years, recent regulatory activity will increase the WBA Chairman’s Member Webinars (online training) potential for errors. While in many ways the new rule is simpler, Appreciation Golf Outing the volume and complexity of information that will have to Aug. 17 | Wisconsin Dells (Register online for webinars at be collected will create great strains on your institution. This (www.wisbank.com/Golf.) www.wisbank.com/education.) seminar will discuss those changes. HMDA assumes that > Register online for WBA events at www.wisbank.com/education. everyone lives in an absolutely cookie cutter world – which > Register online for FIPCO events at www.fipco.com/events. of course is not accurate. While the new rule takes out some guesswork, it certainly does not solve every possible problem. WBA’s social media efforts focus on communication, advocacy: This workshop is designed to help you get ready for 2018 > Like Us > Follow Us > Join Us > Watch Us and beyond. We will not be focusing on the current rule (still effective for 2017 information gathering); we will be focusing on the new rule. Visit www.wisbank.com/events to learn more and to register. Wisconsin Bankers @wisbank – Wisconsin Bankers Wisconsin Bankers Association – www.youtube. www.twitter. www.linkedin.com/ Please direct any questions about upcoming www.facebook. com/wisbank company/wisconsin- com/Wisconsin com/wisbank bankers-association Bankers WBA education programs to WBA’s Miranda Helt at 608/441-1270 or [email protected]. JULY 2017 17

Compliance Counts: Choose the Best IT Audit and Security Partner Today’s banking industry auditors are doing a great job, faces unparalleled regulatory Some of the items to consider including in your audit RFP can it is always good to get a fresh scrutiny, compounded by new be found in industry standards such as NIST, ISO or from your set of eyes on your system and regulations that make staying regulatory guidance (FFIEC, HIPAA, PCI). FIPCO can assist you documentation. By getting compliant more complex than in a complete and detailed list of what you should include. a fresh perspective, using ever before. State, local and different procedures, you can federal regulations such as sometimes find things that have Sarbanes-Oxley, HIPAA and documents the areas tested, So, what should you have been overlooked or gain ideas Gramm-Leach-Bliley continue or specifically list each item in your RFP? The answer is: for new efficiencies. to require institutions to regularly audited whether there was a As much as possible. Granted, Choosing the right auditing perform independent reviews finding or not, and do they the more you have the auditors firm is an important aspect of their Information Security match to your scope of work? look at, the higher the audit of making future exams easier Program, including the review » Timelines cost could go. But in our and meeting more than just of technical controls. These Be sure to include a world of ever-increasing cyber your regulatory requirements. audits provide your institution deadline for receipt of your security awareness and the Ensuring that your controls with valuable insights into final report that includes a “bad guys” becoming even are based on industry accepted upcoming information/cyber reasonable turnaround time. more advanced, having as practices and that they meet security trends and compliance And keep in mind that the much looked at as possible management expectations regulatory requirements. speed in which you provide could be well worth the money will give you confidence This regular review and evidence and responses to spent for a complete and that your information/cyber diligence regarding information questions directly impacts detailed audit. security program is continuing security has allowed organi- that timeline. Once completed, One last recommendation: to mature. zations to become stronger, any exceptions should be Consider changing auditors For more information, and can provide your agreed upon by both you and from time to time, not please contact FIPCO Director institution with additional the audit firm. necessarily the firm you work – IT Services, Ken Shaurette resources to draw upon. When with but the person doing the at 800/722-3498, kshaurette@ it comes to choosing your » Communication Skills analysis. Even if your current fipco.com. auditor, it should be done Audits can be challenging with the care and confidence for the organization as well as to select a strong partner to the auditor, often resulting in support your organization. defensive staff and territorial When selecting an audit issues. Look for someone who I didn’t know... partner, consider the following offers a level of common sense, accepted best practices: and can be flexible and respon- sive to your needs. And, FIPCO » Skill Level although they possess a high offered mortgage booklets! An auditor’s skill level of understanding pertaining level should go beyond a to the technical, administrative predefined audit checklist. and physical controls unique Along with industry accepted to the industry, they should certifications, they should convey this knowledge to your (11508) CHARM BOOKLET illustrate past experience with organization at a fundamental, Consumer Handbook on Adjustable Rate Mortgages information technology and non-overwhelming level. (11516) CFPB’S YOUR HOME LOAN information security. What’s Consider whether they provide TOOL KIT more, they should demonstrate a consultative approach A Step by Step Guide their understanding of the and offer resources to help (11527) HELOC BOOKLET process, methodology and you improve—not just a list Home Equity Lines of Credit - What You Should results of any testing that they of deficiencies. Know About perform. In short, check their » Ask to See Their Work track record, references and client testimonials. If you want to see what type of audit report you are » Reporting going to get, ask to see a Rather than “exception template of the structure and based” reports that fail to sample content. Be sure it illustrate what was reviewed, reads in a manner that you feel To place an order: examiners are looking for fits your requirements and the www.FIPCO.com documentation that illustrates audience you intend to include [email protected] the scope of what was tested. in its review (i.e. Board of 800.722.3498 Will your auditor freely Directors, non-technical or provide the work program that technical staff) 18 JULY 2017 Bank Leaders Gather for Celebration, Education Join your community banking peers for two days of networking and education Held September 12-13 at to nominate recipients for keynote session the Kalahari Resort in these awards is August 18. “Fintechs, Wisconsin Dells, the 2017 Visit www.wisbank.com/ Neobanks and WBA Management Conference ServiceAwards to nominate Beer Garages – & Expo is the ideal event deserving individual from Fear, Fight for casual networking and your bank! If recipients are Drahota or Join Them?” professional development, unable to attend the banquet will focus on how banks can all in an atmosphere that dinner, WBA staff will make stay relevant to tomorrow’s celebrates community banking. arrangements to mail or customers without revolutioni- One highlight of the Sept. 12-13, 2017 l Wisconsin Dells deliver their awards. zing their organizational conference each year is the The first speaker announced structure. Millennials need evening banquet and awards for this year’s conference banking services but don’t dinner, during which the is Becki Drahota from need banks. Entrepreneurs Lifetime Service Awards are Mills Marketing, a company presented. The deadline 4www.wisbank.com/Management she started in 1975. Her (continued on p. 19)

WBA Management Conference Outing Information Sept. 12, 2017 | Outings begin at 9 a.m. | Register at: www.wisbank.com/ GSB Bank management. Technology Golf Enjoy the beautiful Trappers 2 017 Security School Turn Golf Club while networking with fellow attendees! The registration* October 15 - 20, 2017 of $100 per golfer includes golf (scramble format), half Dex Media Center, Dallas, Texas Interactive Labs cart and boxed lunches. Afterwards, participants will This innovative one-week school especially for information Includes practical, daily hands- security officers in the financial industry provides skills and on labs involving network gather in the clubhouse for tools you can put to use immediately to secure your bank’s penetration and web hacking. the award and reception. and your customers’ most sensitive information. Good luck on the links! Enroll Today at gsb.org The program’s curriculum features two core areas of *Golf registration will be study—the business of banking and offensive and defensive IT security measures. closed after Aug. 27, 2017. Registration will be accepted IT Security Curriculum from bankers, directors and • Security Breaches, Laws and Regulations spouses who are registered • Information Security Management OTHER UPCOMING SCHOOLS • Virtualization for the entire conference. Graduate School of Banking Conference sponsors may • Network Defense July 30 - August 11, 2017 • Mobile and Wireless Security Defense be offered golf registration Financial Managers School • Network Penetration/Testing and Ethical Web Hacking depending on availability. September 10 - 15, 2017 Business of Banking Curriculum Bank Technology Security School Bike Tour • Introduction to the Business of Banking in Dallas, TX October 15 - 20, 2017 Led by Butch Pomeroy, • Bank Profitability Analysis • Asset/Liability Management Bank Technology Management School International Bank of April 8 - 13, 2018 Amherst, this casual 15-mile • Bank Regulatory & Competitive Environment Enrollment open Summer 2017 ride is the best way for Human Resource Management School cyclists to see Wisconsin Dells! April 15 - 20, 2018 Bankers, spouses and Enrollment open Summer 2017 associate members are welcome to participate in this trip around the area’s GSBEducating.org | Professionals, Educating Professionals, Creating Leaders Creating Leaders gsb.org bike paths and trails. JULY 2017 19 Yield Curve Behavior: Flattening in the Face of the Fed By Jeffrey F. Caughron to be exhibiting classic signs of If you want to gauge market late-cycle behavior, but with an The Baker expectations and forecasts important new wrinkle. In the of future short-term interest Group last year and a half, the Fed has raised the funds rate three times rates, a good place to start is Jeffrey F. the yield curve. According to Caughron (soon to be four), which of the “Expectations Hypothesis,” course pushes up the short-end a long-time favorite of relative to longer maturities. economists, the shape of Simultaneously, economic data the yield curve at a moment consider what it tells us about » The Reality: since the beginning of the year in time reflects investors’ the future. When the curve is steep, has been lackluster and inflation forecasts of future interest rate it is because the market is sluggish. So while the Fed seems » The Temptation: levels. A positively sloped expecting short-term rates to intent on “normalizing” rates by If the curve is steep, it curve implies short-term rates rise. When the curve is flat moving the short end higher, tempts you to extend asset are expected to rise in the or inverted, it is because the they run the risk of moving too duration because you can pick future, a downward-sloping (or market expects rates to stay far too fast, a potential problem up meaningful yield by doing inverted) curve suggests the the same or fall. Though it for an economic cycle that’s expectation of lower rates, and so. Similarly, when the curve isn’t infallible, the slope of the now nearly a decade old. And a flat yield curve represents a is flat you have no incentive yield curve has been a pretty then there’s the unprecedented market consensus for stable to extend duration since you good predictor historically of situation regarding the Fed’s yields. Remember, though, are paid the same rate for what will happen to the general enormously bloated balance that nothing about financial staying short. Thus investors trend of interest rates. So, sheet, a legacy of “Quantitative markets is static. The curve are induced to extend duration counter-intuitive though it may Easing,” which is expected (and its shape) is constantly when the curve is very steep be, a steep curve can be viewed to gradually unwind, perhaps changing as expectations ebb and shorten duration when as a signal to reduce duration beginning later this year. This and flow. The yield curve the curve is flat or inverted. (since rates are expected to may complicate curve behavior can steepen, flatten, or go Sometimes this works out fine rise) while a flat curve is a depending on the sequence and inverted in anticipation of Fed depending on the point of the signal to extend (since rates are pace of the unwind. curve to which you extend expected to fall). policy changes or inflation » Bottom Line: expectations that may take a or shorten. But mistakes are » The History: It’s always a good idea to long time to come about if they often made when we forget Over the last two interest have a sense of the signals that occur at all. Still, investors are to consider what the curve is rate cycles, we’ve seen periods the market is giving us. It’s wise to make note of trends in telling us. of yield curve inversion and also worth noting how things the changing rate structure and periods of extreme steepness. have played out in the past. In each case, the slope of the If the Fed keeps raising rates curve accurately forecast the while the economy remains direction of rates over the next sluggish and non-inflationary, Management Conf. n year, particularly during the we could eventually find (continued from p. 18) » WBA Management Conference tightening phase. Once the Fed ourselves with a flat or inverted & Expo l Sept. 12-13 l Kalahari began to tighten, the curve yield curve. At that point, we can get $150,000 loans online Resort l Wisconsin Dells l flattened and eventually inverted. could face the prospect of a in minutes. Rocket Mortgage www.wisbank.com/management. Then we saw rates head lower policy reversal by the Fed in promises to make getting a » WBA Lifetime Service Awards (30- (though not immediately) as the not-too-distant future. mortgage fast and easy. If your Year and 40-Year Recipients) the economy weakened. newer employees don’t even Nomination deadline: August 18 Caughron is a managing director www.wisbank.com/ServiceAwards. bank with you, you may be » Today: with The Baker Group, where he challenged in your efforts to n We’ve seen substantial serves as president and chief exec- attract new customers. Drahota yield curve flattening in the last utive officer. The Baker Group is a will demonstrate how cherry- also set aside time for attendees three years. The curve appears WBA Bronze Associate Member. picking the tools you need to devote to peer networking, now will help you become providing space to discuss the a top-performing and even issues, trends and hot topics Staff Change? Address Change? Let WBA Know more attractive bank. that are important to them with Getting information to the right person quickly is critical in The conference will also other banking leaders. these challenging times. Has there been a personnel change at feature a session providing an Learn more about the your bank, or are WBA’s mailings targeted to the wrong staff? economic outlook, including Management Conference & Send your address corrections and/or additions to our impacts from politics and Expo and other upcoming database administrator, WBA’s Assistant Director – IT Randy policy on the banking industry. events online at www.wisbank. Molepske, at 608/441-1212 or [email protected]. Of course, the conference will com/management. 20 JULY 2017

Technology Plan is not prepared to handle.” » Evaluation Before perspective,” said Schweiger. (continued from p. 1) Like with any other high- Evolution “A good strategic planning every bank, the pace and impact decision, the board and Using the strategic plan process should help ensure extent to which the bank bank management should look as a guide, the board and the infrastructure is in place to changes should be a function to their institution’s overall management must evaluate bring new products to market of local market and strategy,” strategic plan when making the wide array of technology when the organization is ready said Lee Wetherington, strategic technology decisions investments available to to implement them.” director of strategic insight at in order to ensure the new financial institutions and Metrics are essential Jack Henry & Associates. technology product or service select the few that will because they provide concrete, “There’s not one right answer.” fits holistically. “Having help the bank accomplish measurable goals and “Certain banks have and updating a strategic those strategic goals. That benchmarks for the success established niches or operate plan is absolutely critical to winnowing process can be of the new offering, whether in communities which are determining which investments difficult, and there are four it’s customer adoption rates, relatively insulated from many in technology should be made,” elements to keep in mind usage statistics or profit. of the changes impacting the said Manny. “Without that during each evaluation: “The best strategic objectives industry,” explained Kyle plan it is extremely difficult data, infrastructure, metrics are measurable, so pursue Manny, CPA, CGMA, senior because banks are thrown and partnerships. technologies that will give manager, financial services new opportunities all the Banks, in general, have all you the results you’re looking at Plante Moran. “Those in time.” Wetherington cautions the high-quality data they need for,” Wetherington advised. communities with consumers against the natural tendency in order to determine which “Optimally, you want to be

On Trend: What the Experts See …

“From an operational “If we’re going to stay relevant “The advent of real-time The three experts standpoint, it’s very important we have to make payments payments will create interviewed for this for small community banks to faster and more convenient opportunities to reengineer article shared their consider developing a shared for customers while still existing products and services, thoughts on top trends services arrangement,” said controlling risks,” said Ken and create new ones as well,” in the banking industry Kyle Manny. “That could be Schweiger. “For mainstream said Lee Wetherington. that you should pay the last frontier in cost-saving consumers, we’ll need to “Imagine how real-time attention to. opportunities for banks.” look more like a fintech money movement will enable solution than the traditional banks to do things like onboard banking model.” new accounts faster or offer instant loans.”

who demand innovative to haphazardly go after those products and/or services will able to measure before and products and services will need “shiny objects” rather than bring the highest return based after implementation.” to innovate in order to maintain pursue innovations that fit the on their current customer base. As for partnerships, fintechs and expand their market share.” bank’s overall strategy. “Begin However, many institutions are no longer generating Different institutions also with strategy,” he said. “Never don’t have the means or business models designed have different thresholds for change for change’s sake.” the inclination to fully to replace banks. In fact, 60 risk which will impact the An initial assessment of leverage that information. “I percent of fintech venture speed and degree of their the bank’s strategic goals recommend community banks capital goes to collaborative technology changes; it’s not is the best starting point for harvest the data available to business models (rather always about keeping up any technology planning. them in order to determine than disruptive), according with the bank up the street. “You have to decide what which investments will have to Wetherington. “The real “Your technology can be you want to achieve from an the most meaningful impact to challenge is navigating the on the bleeding edge, but if organizational standpoint,” the retention and development complexity of opportunity your risk management isn’t, Schweiger advised. “Then take of customer relationships,” banks have in working with that could be a problem,” an inventory of where you’re said Manny. these new fintechs,” he said. cautioned Ken Schweiger, at and decide if you need to It’s also critical to “The highest-performing COO at Community First fill in holes in your product factor in the bank’s current banks will be those who Bank, Boscobel. “Many times offerings, or if you want to technology capabilities based best navigate, curate and organizations make changes for advance on the curve with a on its infrastructure. “Your leverage the opportunities competitive reasons, and while market-leading product.” Then, technology infrastructure needs and innovations offered by that is often appropriate, it can management and the board to be able to handle the new fintechs, and it starts with the also lead to strategic and other can begin evaluating specific product or service, especially strategic plan.” types of risk that the institution opportunities. from a risk management (continued on p. 21) JULY 2017 21

Technology Plan your regulators, especially (continued from p. 20) your technology plans,” Wetherington advised. » Smooth and Strategic “Familiarize yourself with Strategic technology plan in your regulators’ innovation place, the board then typically posture and outreach. It’s steps back and management one thing to assume, but it’s must implement the new or better to know.” updated product or service. By placing the strategic Rolling out a new product, plan at the center of all no matter how large or small, technology changes, banks is a complex process. By can evolve and thrive in focusing on small changes today’s tumultuous industry by and relying on standard a large change­—such as the but also that all potential investing in the right products procedures, management can launch of a new website risks are recognized. for their customers and help ensure a smooth strategic or mobile app—focusing “Since essentially all new implementing those changes change process. on smaller improvements product and service offerings smoothly. Finding the right fit For most banks, the is essential to stay ahead require a several-step risk in technology is the only way most appropriate strategy of the competition. “There assessment today, having a community banks can keep for change will not involve are so many options that well-defined process for up with the pace of change; trailblazing, according to can differentiate you product and service develop- technology is one more tool Manny. He described it incrementally from direct ment is helpful,” Schweiger they can use to define their using a baseball metaphor, competitors that the real explained. “Creating standard brand for their customers and recommending banks focus on challenge isn’t putting procedures and templates to their community. “There are singles rather than homeruns. in any one technology, it’s facilitate things like model so many options out there, “Incremental improvements sustaining a systematic risk, vendor risk, and IT risk the challenge is to figure out to the community bank’s effort to incrementally assessments as part of the where to put your assets,” value proposition will keep differentiate from your product development cycle said Schweiger. “You can’t customers loyal and attract competitors,” said Wether- can be very helpful.” do everything in every market, those from other institutions,” ington. “That’s the key to Finally, no significant but that doesn’t matter because Manny explained. “It’s long-term viability.” technology change at any not every market requires the always been the community Putting a standard institution will go smoothly same products.” bank model to deliver procedure in place will without open and active excellent customer service help manage change at communication between the Plante Moran is a WBA Silver over and above the latest the bank by ensuring that bank and its regulator. “Be Associate Member. technology.” For this reason, not only are all the essential proactive in communicating Seitz is WBA operations even when implementing operational steps followed, your strategic plans with manager and senior writer.

Investment Strategies (continued from p. 11) A subplot to this is the pre- on the bonds will reflect that. your investment will have a will depend on variables refunded market. A number of This makes “pre-re’s” very dwindling remaining balance, such as total pool size, stated outstanding seasoned munis logical swap candidates. which eventually will be of maturity date and recent are not yet callable, although There is no standard reporting such size that it will have very prepayment history. their interest rates are in-the- mechanism to inform an limited liquidity. It’s highly likely your money to be called. Often investor when a pre-re has It has long been the community bank owns some or the municipality will issue occurred, so check with your recommendation of Vining all of these investment sectors more bonds in anticipation of brokers to stay up-to-date Sparks, ICBA Securities’ mentioned here. Collectively retiring the outstanding ones on this matter. endorsed broker-dealer, to they comprise over 80 percent as soon as possible. For the “clean up” odd lot pieces of of community bond portfolios. interim period, the proceeds on MBS Consolidation Work MBS, and consolidate them So you may be able to put the new issue will be invested One of the key advantages into fewer, larger blocks. When several of these techniques to in Treasuries to pay off the of amortizing bonds like to do this? It’s something of good use, and demonstrate that old debt. This begets the name mortgage-backed securities a moving target, but to put the more things change, the “pre-refunded munis.” (MBS) is that the investor a number on it, when the more they remain the same. This causes the seasoned receives some cash flow remaining balance on a pool issues to be effectively every month, whether you is around $200,000. The Reber is president and CEO of guaranteed by the Federal like it or not (and these days, liquidity of these odd lots, and ICBA Securities, a WBA Gold government, and the prices you do). This assures that therefore the market prices, Associate Member. 22 JULY 2017 Don’t Trip Up with Your Employee Benefits The right insurance partner can make all the difference As you review your options their expertise to solve for 2018 employee benefits, problems for their clients keep in mind that your decision so they can focus on their should result in a partner Value Added Resources business and achieve who will offer the attention, their aspirations. ABRC’s flexibility and support your collaborative approach Benefit Plans Human Resource for strategic, customized employees deserve. WBA EBC Support would like to be that partner employee benefits, business and has taken steps this past insurance and HR solutions Technology Compliance year to prove it. (and the competitive

In October 2016, WBA WBA MEMBERS advantage that brings their Workplace finalized a correspondent Communication clients) is part of what relationship with Associated Wellness makes their partnership with Benefits & Risk Consulting WBA so exciting. Actuarial Employee to offer Wisconsin banks Services Advocacy So, when it’s time throughout the state a broader for you to review your variety of insurance options to employee benefit packages, For more information contact Brian Siegenthaler | Director — Sales | WBA Employee Benefits Corporation, Inc. | 608.441.1211 | [email protected] fit their unique business needs. » For more information, contact EBC’s Brian Siegenthaler at 608/441-1211 keep WBA Insurance [email protected] Through this new relationship, or . Services in mind as your WBA Insurance Services is industry-specific source able to offer Wisconsin banks insurance compliance, workplace Minn., ABRC is a premier for a variety of options. expanded options and meet a wellness programs, actuarial employee benefits, business For more information about wider variety of bank insurance services, communications assis- insurance and HR consulting WBA Insurance Service’s needs, including employee tance and employee advocacy. agency. They believe in offerings, contact Brian benefit plans, human resources A subsidiary of Associated removing obstacles, simplifying Siegenthaler at 608/441-1211 or support and IT solutions, Bank based in Minnetonka, the complicated and applying [email protected].

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Together we protect what matters most to YOU. JULY 2017 23

Economic Development Are Your Customers Prepared to Handle Higher Interest Rates? By Dan Schneider of their fixed asset needs into borrowers as interest rates In the May 2017 issue of low, long-term, fixed-rate continue to increase. Wisconsin Banker, we Economic financing. Since the SBA 504 If you are wondering discussed three ways that Development loans are funded through the what customers think of our sale of bonds in the secondary rates, just know the desire lenders might think about Dan Schneider how the SBA 504 refinance market, WBD is able to tap for long-term fixed rates is program can help find new into a fixed-rate funding source the second most popular business and assist some that is not typically available reason for using the 504 in your current portfolios. 6 to small businesses. program based on our As a business banker for many Since the SBA 504 loans are Over the past several years, customer survey results. years, I know that regular funded through the sale of WBD’s SBA 504 portfolio The most popular reason reviews of your portfolio bonds in the secondary market, has experienced substantial is lower (10 percent) down payments. Both reasons with an eye toward mitigating WBD is able to tap into a fixed loan payouts as banks and positively impact cash flow the bank’s risk while posi- rate funding source that customers alike have taken and enhance working capital. tioning your borrowers for is not typically available to advantage of record low I encourage you to contact success is a critical role small businesses. interest rates. However, many one of the WBD loan officers you serve. Depending on 5 refinanced with shorter term, to discuss how they can the borrower’s most recent variable rate loans. On a assist you with the financing financial performance and the positive note, what will remain in our portfolio are high- needs of your customers current economic environment, to survive and actually quality loans with historically and prospects. each review is usually thrive in the rising rate low, long-term fixed rates. We performed through a specific environment while their Schneider is CEO of WBD, Inc. – think this is good news for Your Business Finance Resource, lens that seems appropriate competitors suffered. In both WBD and our current and a WBA Associate Member. at that time. addition, the quality of With one interest rate our SBA portfolio was increase this year and two actually stronger than more anticipated, the signs our “conventional” portfolio. all point to higher rates in the While that was an extreme future. Are your borrowers case of rising interest rates, ready? What are you doing the concept applies to today’s to maximize their chances rising rate environment. Northwest WI for success? We know that during Without trying to date April Nelson the past several years when Mike Dieckman myself, I can recall a time rates were historically low, when the prime rate was a majority of loans were rapidly increasing and originated on a variable rate actually exceeded 20 percent. basis or with a short-term Southeast WI The bank was concerned fixed rate. These loans will Steve Kohl about positioning the now be maturing and, in most Nick Drewsen borrowers for success cases, be renewed at a higher in the rising rate environment. rate. How high? For those Since the bank’s loans had you serve, there will be some been primarily funded that even a modest increase Get to know our Loan Officers at WBD.org with deposits, providing will be cause for pain, fixed rates using conventional negatively impact growth, Central/Southwest WI methods was not a viable or even be the difference Kyle Kuntz option. The SBA became between success and failure. Diane Byler our source of long-term fixed The question is, are you rate financing rather than positioning your customers the “lender of last resort.” to survive and thrive? By being proactive, we Of course, one of the Northeast/Fox Valley WI were able to provide many ways to protect the interests Jeff Sheffler customers with long-term, of your borrowers (and yours Matt Wilcox single-digit fixed rates too) is to use the standard before prime hit double digits. SBA 504 program or the We provided our customers SBA 504 refinance program 20 year fixed-rate 504 loans for 4.668% (May 2017 effective rate)! with the staying power to lock in up to 40 percent 24 JULY 2017

Wisconsin Banks and Social Media WBA recently compiled an inventory of its member banks’ participation on various social media channels.* View highlights of our findings below.

» Overview Most Popular Social Media Platforms Of WBA’s 223 member banks 10 headquartered in Wisconsin, 54 have no social media presence. Here’s the most 10 popular platforms for the 169 banks who are on social media: 120 100 acebook witter 80 inkedin ou ube » Single-Platform Banks 0 Of the banks with a social media presence, 0 53 have chosen to focus their efforts on a single platform. Here are the 20 most popular: 0 18 7 127 0 2 1 otal

» Engagement The average number of followers/likes for each platform shows that, overall, the banks who engage online have gathered an audience. 26 24 Social Media Followers/Likes

witter ollowers 7

inkedin ollowers 1,77 acebook inkedin witter ou ube acebook ikes 2,0

0 00 1,000 1,00 2,000 2,00 ,000 » 1+ Posts Per Week otal ollowersikes When looking only at banks who post at least once per week on Facebook, the average number of “Likes” Social Media Likes Per Post jumps up 23.5 percent from 2,606 to 3,221. For 1 Posts Per eek , LinkedIn, the average jumps ,221 almost 215 percent, shooting up to 4,964 from 1,577. verage 1,77 Fun fact: WBA member 2,0 banks on Facebook average acebook nfreuent Posts 1 3 posts per week. 287 witter

0 1,000 2,000 ,000 ,000 ,000 ,000 otal ollowersikes

*All data compiled and analyzed by WBA’s Ally Bates. JULY 2017 25

Banks and Regulators Agree: Cybersecurity a Major Concern Protect your bank with cybersecurity insurance By Daryll J. Lund timely provide those letters— Managing cybersecurity is and the development of a set Association a top priority for banks of frequently asked questions Update and regulators alike. When for use by the call center and WBA met with the FDIC on Daryll J. Lund how to anticipate and prepare May 24, cybersecurity was for call escalations. BBR also identified as one of the agency’s includes a number of products biggest concerns for banks; the that provide resolution and FDIC’s regulatory guidance* FDIC’s Cybersecurity mitigation services, including on this issue reflects that in the Regulatory Guidance: one- and three-credit bureau number of tools and resources • www.fdic.gov/news/news/ monitoring and identify the agency offers financial financial/2016/fil16068.html. provides access to webinars monitoring solutions. institutions to help them assess on current topics related to Through Beazley and manage their risk. information security and cybersecurity insurance However, no matter how information, a computer breach preparedness. Another policies, MBIS now insures diligent banks are in protecting forensics guide, and popular feature of the BBR over 100 banks in Wisconsin, their customers’ data, criminals assistance at every stage of the policy is access to included Minnesota and North Dakota. will continue to step up their investigation of and response legal services which assist Don’t leave your institution game and breaches will to a data breach incident. policyholders in investigating open to the risk of dealing continue to occur. That’s why In addition, the BBR and responding to an incident. with a cybersecurity incident WBA Insurance Services policy entitles purchasing Finally, the BBR policy on your own. For more informa- offers banks a cybersecurity organizations to enroll includes assistance during the tion about this and other WBA insurance policy through in Beasley’s online risk notification process, including MBIS products, please contact MBIS. Provided by Beazley, management portal, which arranging for notification and/ Jeff Otteson, vice president – this coverage provides privacy provides educational and or call center service and other sales at [email protected]. loss control information necessary follow-up. After a breach response and risk *www.fdic.gov/news/news/ management services. The relating to compliance with breach occurs, BBR Services financial/2016/fil16068.html Beazley Break Response applicable laws, safeguarding will walk through notification (BBR) insurance policy information, preparing to details—such as how to work Lund is WBA executive vice includes complimentary loss respond to breach incidents and with privacy counsel to develop president – chief of staff and control and risk management best practices. Enrollment also notification letters and how to president of EBC and MBIS.

WBA is Taking its 125th Anniversary Celebration on the Road!

This summer, join your fellow bankers and association staff for some tailgating and America’s game. WBA will be covering the cost of tickets for member banks to attend one of five different minor league match-ups. Attendees will also be able to enjoy the food and beverages available at their stadium. We hope you can join us at one of these games for an evening of networking and good old-fashioned fun!

» Register for July games at: Game Schedule: www.wisbank.com/Baseball. • Appleton Timber Rattlers June 22 l 7:05 p.m. Here is how it works: WBA is providing 4 complimentary • La Crosse Loggers tickets for each member bank with additional tickets June 26 l 7:00 p.m. available at $20 each. Tickets include food and beverages. • Wausau Woodchucks Space is limited so early registrations are encouraged. JuneCOMPLETED 27 l 6:35 p.m. • Eau Claire Express July 11 l 6:35 p.m. Wisconsin Bankers Association • Madison Mallards July 13 l 7:05 p.m. 4721 South Biltmore Lane | Madison, WI 53718 | 608-441-1200 | wisbank.com 26 JULY 2017

WBA Perspective Industry briefings for Wisconsin bankers

There’s certainly no shortage of information channels in this day and age. You Rose Oswald Poels is WBA president and CEO can find out news from around the globe in newspapers, online and even on your [email protected] | 608/441-1200 Twitter: @RoseOswaldPoels smartphone. If you don’t have time to sift through hundreds of articles and news bytes, here’s what you need to know about what’s going on in the banking industry this month:

Financial Literacy Regulatory Advocacy WBA Testifies to Promote Financial Literacy Bankers, WBA Meet with FRB-Chicago

On May 24, 1st National Bank Financial Literacy Coordinator Amy Vetrone, CFEI, gave oral testimony on behalf of the Wisconsin Bankers Association (WBA) before the State Assembly’s Com- mittee on Financial Institutions to support AB 280. The bill would require all Wisconsin public schools to incorporate financial lit- eracy into K-12 curriculum. AB 280 and its companion bill, SB 212, both have broad bi-partisan support. Vetrone, a member of the On May 18, WBA facilitated an informal discussion between a WI Bankers Foundation Board of Directors and Advisory Board, small group of bankers and staff from the Federal Reserve Bank impressed upon the Committee members the importance of Chicago (FRB). Topics included economic conditions of commu- incorporating financial literacy into school curriculum. nity banks in the state, overdraft programs, commercial real estate concentrations, product innovation, and more efficient examination Advocacy processes. WBA member bankers were Larrie Hayes, WoodTrust Pocan Meets with Madison-Area Bankers Bank; Dan Klahn, Community First Bank, Boscobel; Teri Martin, Union Bank & Trust, Evansville; and Troy Mitchell, Town Bank. Representing the FRB were Joe Davidson, vice president su- pervision and regulation; Mark Medrano, assistant vice president supervision and regulation; Thomas Payton, supervision manag- er; and Aaron Brown supervision manager. WBA’s Rose Oswald Poels, Daryll Lund and Kris Cleven were also present

Courts

JUDICIAL ADVOCACY Amicus Brief Filed Against NCUA by State Banking Associations

Recently, the Wisconsin Bankers Association and 50 additional state banking associations filed friend-of-the-court briefs in sup- In late May, WBA hosted a small breakfast fundraiser for Con- port of ABA’s lawsuit challenging the NCUA’s expansive field of gressman Mark Pocan (D) in Madison. Ten representatives from membership rule. ICBA also filed a separate, similar brief the WBA had a wide-ranging discussion on federal legislation and the same day. The state association brief argues that the final rule’s local economy. He committed his office to look into several bills definition of “well-defined neighborhood, community or rural dis- outside of the CHOICE Act that would provide relief to commu- trict” to include large regions encompassing multiple metro areas nity banks. During the August congressional recess, Pocan will stretches well beyond the authority of the NCUA board. It also be touring banks within his district. Pocan serves on the House points out that the final rule will have a substantial adverse effect Appropriations Committee where he sits on the Subcommittee on community banks and that the way the final rule allows credit on Labor, Health and Human Services and Education, and the unions to serve parts of Core-Based Statistical Areas without serv- Subcommittee on Agriculture. ing the urban core that defines the area goes against congressio- nal intent. The ABA had filed for summary judgement in the case For more industry updates like these, sign up and is seeking a declaration that the rule exceeded the agency’s to receive the WBA Executive Letter ePublication statutory authority and is arbitrary and capricious, as well as an by visiting your profile on www.wisbank.com (located in injunction prohibiting any community charter expansions pursuant the upper-right corner of the screen). to the challenged portions of the rule. JULY 2017 27 Bankers Marketplace and reviewing customer financial require a minimum of 5 years of experience HELP WANTED Want to See More Ads? Want to See More Ads? information to assign a risk rating. The ideal in a financial institution environment. Vice President, Risk Management Visit www.wisbank.com/classifieds to view a candidate should possess a degree in Experience in working within complex Description: Join the senior leadership team tofull view listing a fullof job listing postings of job or postings for more or finance or accounting or equivalent work spreadsheets is desired, with ALCO of Peoples State Bank, Wausau as a strategic forinformation more information on placing on or placing responding or experience as a credit analyst or lender, experience and strong IT skills a plus. This business partner to ensure profitable growth, respondingto an ad. to an ad. an understanding of all tax ownership position also requires strong organizational customer-centric service delivery and structures, tax returns, financial statements, and communication skills, with problem- regulatory compliance. Help to establish, accounting principles, ratio and trend solving needed for special project work. coordinate and maintain regulatory analysis, cash flow, collateral analysis and Day to day duties will include preparing compliance, audit and risk assessment efforts take series 7 exam or series 7 licensed. loan covenants. Proficiency in Word and and maintaining financial statements, of the Bank as we continue to grow. Ensure Preferences will be given to series 7. The Excel is required, and the ability to work working with budget spreadsheets, Board policies and procedures comply with right candidate is currently living in or independently to meet lending officer report preparation, ALCO support, assisting appropriate laws and regulations working willing to relocate to Iowa County. This deadlines and maintain a positive, service- with shareholder records, Precision core with others to demonstrate the value of person will need to integrate into our oriented attitude. processing system work, and other bank compliance. Oversee the internal audit trade area to help service and grow a well- financial related assigned areas. Markesan function to ensure that internal controls, established book of business. We have To apply for one of these positions, email a State Bank is a locally owned community operations and banking functions are an established process and are aligned resume to: [email protected]. bank with a 126 year history of serving appropriate to limit the risk to the Bank, and with a high-quality Independent Broker/ Equal Opportunity Employer of minorities, its community. Branch locations are in to protect customers and shareholders. Dealer. We have been focused on “Fee females, protected veterans and individuals Markesan, Randolph and Waupun. We offer Peoples State Bank ($827 Million in Assets) Based” business for the past 15 years. with disabilities. a competitive compensation package and a has been recognized as one of the top We specialize in relationship-building Assistant Controller friendly team atmosphere with opportunity 200 community banks for eight years in a and straightforward communications. Markesan State Bank is seeking an to grow. All qualified candidates are row. We take pride in our community by This is an excellent opportunity for the experienced Controller to assist our Chief encouraged to apply by sending your providing a high level of service and right individual to join a well-established, Financial Officer. We seek a candidate resume and salary requirements to Lisa being a good corporate citizen. At Peoples, stable institution celebrating their 100-year with a bachelor’s degree in accounting, Broder, Human Resource Coordinator, at it’s about our customers, employees and anniversary of service to our communities. finance or business, with an emphasis in [email protected]. Markesan shareholders. Requirements: Preferred Excellent compensation package includes: budgeting and financial reporting. We State Bank is an Equal Opportunity Employer. candidates will have a bachelor’s degree in salary, bonus, profit sharing (401k), paid the field of business, five to six years vacation, sick leave, and insurance benefits. of related bank compliance, audit or risk If interested, please forward your resume management experience. Experience and salary history to: Farmers Savings Bank, leading and supervising a team with good Attn: Human Resources, 305 Doty Street, Place Your Classified dA Here! written and verbal communication skills. Mineral Point, WI 53565. Email: FSB_HR@ To apply or find out more information farmerssavings.com. Looking to fill a position at your bank? Reach out to a pool on this opportunity, please go to: of candidates from within the banking industry by advertising www.bankpeoples.com/About/jobs.asp. Compliance Officer | Credit Analyst We are an Equal Opportunity Employer of Premier Community Bank, an independent in Wisconsin Banker and on wisbank.com through the WBA Minorities, Females, Protected Veterans, and community bank in northeast Wisconsin has Bankers Marketplace. Visit www.wisbank.com/classifieds and the following openings: Individuals with Disabilities. click on “Place an Ad” to learn more and to submit your ad. Compliance Officer – This position will be Loan Officer responsible for the compliance management Bank of Alma is a $223 million bank with process for the Bank, including reviewing, four locations along the Mississippi River monitoring and maintaining a system of (Alma, Wis., Nelson, Wis., Pepin, Wis. audit controls, keeping abreast of new WISCONSIN BANKER and Wabasha, Minn.). We are currently regulatory developments and anticipating searching for a well-rounded loan officer Association Officers: how changes may impact the Bank, Frederick J. Siemers (Chair), President, River Cities Bank, Wisconsin Rapids to join our team at our Alma office. preparing training materials and conducting David P. Werner (Chair-Elect), President/CEO, Park Bank, Milwaukee The successful applicant should be an training sessions to educate Bank personnel, Mark Meloy (Vice Chair), President/CEO, First Business Bank, Madison experienced lender with knowledge in and directing individuals responsible for Cynthia Erdman (Past Chair), President, Partnership Bank, Tomah consumer, ag and commercial lending compliance in each respective area in the Rose Oswald Poels, President/CEO, Wisconsin Bankers Association, Madison and have the potential to move into identification, measurement and monitoring Association Board of Directors: bank management. He/she will have of risks within the Bank. This position will Mary A. Bomkamp, President/CEO Bill McDonald, CEO strong personal computer skills, excellent Highland State Bank also be responsible for board reporting Greenwoods State Bank, Lake Mills communication skills, the ability to develop Christopher Del Moral-Niles, EVP/CFO Mark Mohr, President/CEO and act as a contact for external regulatory new business relationships, demonstrate Associated Banc-Corp, Green Bay First Bank Financial Centre, Oconomowoc agencies. A thorough knowledge of banking credit judgment, credit analysis skills, Dennis P. Doyle, President/CEO Marty Reinhart, President/CEO regulations, compliance, security, typically Great Midwest Bank, S.S.B., Brookfield Heritage Bank, Spencer a proven record of personal financial acquired with at least 5+ years of banking Sang Kim, Regional President – WI/MI Ken Thompson, President/CEO responsibility, and looking to make the area experience is required. Wells Fargo, Milwaukee Capitol Bank, Madison their home. Please email your resume to Paul D. Kohler, President/CEO Scot Thompson, President/CEO [email protected]. Credit Analyst – This position will be Charter Bank, Eau Claire Denmark State Bank responsible for assisting our commercial Scott A. Kopp, President/CEO Tom Van Pelt, President/CEO Investment Advisor and agricultural loan officers located in Bank of Galesville Citizens State Bank, Hudson Farmers Savings Bank is seeking a our NE Wisconsin locations analyzing Stan Leedle, Executive Vice President community-oriented individual with customer financial information, preparing Choice Bank, Oshkosh either a series 6 with a willingness to written analysis and loan presentations, Wisconsin Banker is published by Wisconsin Bankers Association, 4721 South Biltmore Lane, Madison, WI 53718; Telephone: 608/441-1200; Fax: 608/661-9381; www.wisbank.com. Eric Skrum, Editor Advertising: (608) 441-1216 [email protected] Send This to Your IT Staff… WBA has switched [email protected] to a new email service. To ensure you continue to receive WBA To report a change of address, email us at [email protected]. emails, please send the following information to your IT staff. The publication of advertisements does not necessarily represent endorsement of those products or services by the Wisconsin Bankers Association. The editor reserves the right to reject any They will need to “whitelist” WBA and our new provider, advertising or editorial copy deemed unsuitable for publication for any reason. Copy deadline is MailChimp. The IP addresses to use are: 205.201.128.0/20 eight business days before publication date. Disclaimer: With the exception of official announcements, the Wisconsin Bankers Association and 198.2.128.0/18 disclaims all responsibility for opinions expressed and statements made in printed articles and advertisements in the Wisconsin Banker. This publication is designed to provide accurate and Visit http://mailchimp.com/about/ips for more information. authoritative information in regard to the subject matter covered. It is distributed with the under- Please contact WBA’s Randy Molepske at rmolepske@ standing that the publisher is not engaged in rendering legal, accounting or other professional services. If legal or accounting advice or expert assistance is required, the services of a qualified wisbank.com, 608/441-1212 with additional questions. professional should be sought. 28 JULY 2017

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