December 11, 2006 www.bankersdigest.com Volume 129, No. 24 IBERIABANK Corp. Announces Brown Move to BOKNames Maun CEO, IBERIABANK Corporation, Lafay- through the acquisition of Pocahontas Bank of Kansas City, ette, LA, the holding company for Bancorp. Inc in Jonesboro, announced Tulsa, OK-based BOK Financial Corp. IBERIABANK, has announced that in July 2006. has entered the “heart of America” with senior executive As part of his promotion, Brown will the launch of its newest subsidiary, vice president Mi- relocate to Little Rock. Bank of Kansas City. chael Brown has Brown joined IBERIABANK in 1999. Marc Maun, chairman and CEO been given addi- Earlier, he served with Bank One of Bank of Kansas City, opened the tional responsibili- Louisiana as chief credit officer for the 30-employee full-service bank in mid- ties to include the commerical line of business in LA. He November in the Lighton Tower in management of all has also served as a capital markets Overland Park, KS. He reported in an of the company’s specialist and as a corporate finance article by Kirby Lee Davis in The Journal markets operat- advisor. The chartered financial analyst Record that “within five years we expect ing under IBERIA- (CFA) previously served with First Com- to be one of the top 10 banks in the BANK Corp., including LA, AR, TN, merce Corporation in New Orleans as area, and hopefully in the top five.” and OK. In addition, his current wealth senior vice president, manager of credit The bank will focus on the commercial management responsibilities include and client services, and with middle market and consumer business. the trust business to be acquired in AR Bank in treasury services Q He also said the bank is in the process of acquiring a MO bank charter that will First Financial Trust Co. Ups Thaxton and Young fulfill its name in an 18-county Kansas First Financial Bankshares Inc., Abilene, Financial, Abilene, as an assistant trust City metropolis. In addition, all of BOK TX, recently announced the promotion officer. He served with InterFirst Bank Financial’s operations, except a food of Kirk W. Thaxton, CTFA, to presi- in Abilene for several years, then re- and agribusiness lending group, have dent/CEO of First joined First Finan- merged into Bank of Kansas City. Financial Trust & cial in 1989. He has Maun has served with Bank of Okla- Asset Management served on the leg- homa in Tulsa for 21 years. He most re- Company, N.A., ef- islative and educa- cently managed the corporate banking fective January 1, tion committees of department, and earlier the commercial 2007. the Texas Bankers lending staff, national and regional Thaxton replaces Association wealth lending, among other duties Robert S. Patter- management and Q son who is retiring trust division. Please route this issue: after 12 years as In addition, D. president and CEO. Richard Young, Patterson will remain on the First Fi- CPA, has been promoted to executive nancial Trust board and will continue to vice president and manager of the In This Issue... work as a consultant for the company. Abilene trust office, the position that He was instrumental in forming the Thaxton vacates. He is a nine-year A Debtor by Any Other Name trust company in 2003. company employee. Thaxton, a certified trust and finan- Young received a BBA degree in Is Still a Debtor cial advisor, graduated from Abilene accounting and a masters degree in fi- Legal Phases...... 3 Christian University in 1983 with a nance from Hardin-Simmons University BBA degree in accounting. He also in Abilene. The 20-year banker joined Charter Activity...... 8 completed the National Graduate Trust First Financial Trust & Asset Manage- School at Northwestern University. ment in 1997 as a senior vice president Classified...... 9 He began his trust career with First Q p e o p l e TEXAS

Lynch Named EVP, the promotion of Stephen Tyrone PlainsCapital Taps Ni- First Bank Farmersville Lynch to executive vice president and renberg and Litton First Bank Farmersville has announced senior lender. PlainsCapital Bank, Lubbock, has an- Lynch joined First Bank as senior nounced the appointments of Alan vice president in November 2005 from Nirenberg and Mike Litton as senior Gateway National Bank, Mesquite. He is vice president in Austin and Round responsible for coordinating all lending Rock, respectively. operations, including lenders in Lavon Nirenberg has been named senior and Princeton. vice president of commercial lending. He is a 2003 graduate of Southwest- He will be responsible for managing a ern Graduate School of Banking at SMU commercial and real estate loan port- and New Mexico State University folio while fostering new and existing Q business relationships. The 19-year banker, served as Austin branch presi- dent of First National Bank in Edinburg prior to joining PlainsCapital. He is an RED BOOK active member of the Real Estate Coun- cil of Austin and serves on the advisory board for Caritas of Austin. He earned a BBA degree in finance from The Uni- versity of Texas at Austin. Litton has been named senior vice president of small business lending. He will manage current banking needs of small business customers while extensively developing PlainsCapital’s SBA lending program. Prior to join- ing PlainsCapital, he was senior vice president and director of SBA lending for La Grange-based State Bank/Texas United Bancshares. He is a member of both the National Association of Gov- ernment Guaranteed Lenders and the Central Texas Government Guaranteed Lenders Association. He holds a BBA degree in marketing from The University Bankers Di- of Texas at Austin Established 1942 Q A Weekly Bank News Magazine (USPS 041180) Visit Bankers Digest on-line Published every Monday at Dallas, Texas to order or renew a Copyright 2006 Bankers Digest® subscription: BONNIE JAMISON BLACKMAN, Publisher/Editor R. GILBERT BLACKMAN, Managing Editor www.bankersdigest.com 9550 Forest Lane, Suite 125 Dallas, Texas 75243-5928 Phone 214/221-4544 Fax 214/221-4546 E-mail: [email protected] website: www.bankersdigest.com Subscription rate: One year $32.00, single copy $1.00 Opinions expressed by columnists and writ- IBS ers of bylined articles are not necessarily those of Bankers Digest. Editorial guidelines may be obtained upon request. Articles and photos may be submitted to above address or sent via e-mail. Periodical postage paid at Dallas, Texas POSTMASTER: Send address changes to Bankers Digest®, 9550 Forest Lane, Suite 125, Dallas, Texas 75243-5928.

Page  BANKERS DIGEST December 11, 2006 l e g a l p h a s e s D U E D I L I G E N C debtor well enough under federal law. of State search result, suggesting The IRS had filed its liens abbreviating they search for slightly different or A Debtor by Any Other certain aspects of the debtor’s name but abbreviated names of the debtor. The maintaining the critical “Spearing Tool” IRS was determined to have a first Name Is Still a Debtor core of the name. priority security interest on all of the By In the case of Spearing Tool and assets which the Bank had taken as Don Gwin Manufacturing Co. Inc., Debtor v. Crestmark collateral for its loan. SettlePou Bank; Crestmark Financial Corporation, This case contains important Dallas, Texas Appellees, 4112 F.3d 653, (6th Cir. 2005), lessons. When performing lien searches www.settlepou.com the Court ruled in favor of the IRS, automatically, you “get what you ask applying a more liberal notice standard for.” If you order a search in one name A recent United than that contained in the Uniform only, then the search will not include States Court Commercial Code. The Court noted that other names. Lien searches should of Appeals while a U.C.C. financing statement filed be broadly cast so that other possible d e c i s i o n under the abbreviated and truncated combinations of abbreviations and s h o w s t h e name used by the IRS would ordinarily truncations of a name are searched. importance of have been ineffective, under state law, This is the format provided by pursuing making careful the IRS is held to a lesser standard the Texas Secretary of State “Wild Card lien searches as part of the lender’s due under the IRS Code and held that the Search” for online search and is the diligence process, especially as regards IRS liens need not “perfectly identify” format provided by private companies federal tax liens. the taxpayer, but must only “sufficiently providing search results. Although the Crestmark Bank (“Bank”) was identify” a taxpayer so that a lender is additional names on the lien search may making a loan to Spearing Tool placed on notice for further inquiry. cost the Bank more money and effort at and Manufacturing Co. Crestmark Here, the use of the combination of the the beginning of the loan process, that documented the loan internally and words “Spearing Tool” was held to have expense is insignificant when compared searched the public records for U.C.C. placed Crestmark on reasonable notice to the cost of writing off a loan Q financing statements and federal that a tax lien may have been asserted tax liens that could have affected its against its customer. Crestmark had, in lien position in the collateral. The fact, received a prompt in their Secretary search reflected no liens or financing statements filed under the specific name which the Bank searched; namely, Spearing Tool and Manufacturing Co., which was the exact legal name of the debtor. The Bank then entered into a credit arrangement with Spearing, and Spearing granted the Bank a security interest in certain assets, which security interest was perfected through the filing of a U.C.C. financing statement in the name of Spearing Tool and Manufacturing Co. Spearing subsequently filed a Chapter 11 bankruptcy proceeding. During the proceedings in the bankruptcy court, the Internal Revenue Service took the position that it had prior perfected federal tax liens on all assets of the debtor, and that the Bank was in second lien position. The Bank responded by saying that the federal tax liens were not filed under the exact legal name of the debtor as required by the state’s Uniform Commercial Code, and were, therefore, ineffective. Although the correct legal name of the borrower was “Spearing Tool and Manufacturing Co.,” the IRS filed its liens under “Spearing Tool & Mfg. Company Inc.” The IRS position was that the notice of tax liens identified the

December 11, 2006 BANKERS DIGEST Page  p e o p l e TEXAS DeWhitt Named SVP industry experience including corporate Quinn Named EVP for banking and asset-based lending. Coppermark Bank She has a BBA degree in finance from Community National announced the promotion of Kellie Baylor University. Bruce P. Thomson has joined First DeWhitt to senior vice president in She is active in Community Bank Central Texas as CoppermarkPlano. Bank, Oklahoma City, has the Dallas, Texas senior vice president. His duties will DeWhitt serves in commercial chapters of Women include commercial lending as well as lending at the Coppermark branch in i n E x e c u t i v e managing First Community Bank Cen- Plano where she has served for the past Leadership, and the tral Texas’ first full-service location at two years. She has16 years of banking Women’s Finance 130 North New Road, Waco, which is Exchange set to open in December 2006. He has In addition, over 15 years of lending experience in Coppermark has the banking industry. promoted Patricia First Community Bank Central Texas Kelso to assistant vice president and is a member of FC Holdings, a Houston- residential mortgage lending officer. based holding company. First Commu- Kelso is a mortgage lending officer nity Bank Central Texas has locations serving customers in Plano and North in Meridian, Hico, and on North Valley Dallas. She serves at the branch at Mills Dr. in Waco. By mid-2007, the 7400 Preston Road in Plano Q bank will have new locations in Clifton, and in Waco at 1300 North Valley Mills Dr., 1201 Hewitt Drive, and Lake Shore Drive and IH-35 Q Richardson S&L Founder Cassidy Dies at Age 79 Franklin Bank’s Nocella ANICO Clifton Wilson Cassidy Jr. died in Dallas Re-Elected to ACB Board on November 21. He was born in San Anthony J. Nocella, president/CEO Antonio on October 30, 1927. He was of Franklin Bank Corp. in Houston, a resident of Richardson since 1940 has been elected to a second three- and served in the U.S. Navy at the end year term on the board of directors of WWII. of America’s Community Bankers, the Cassidy founded Richardson Savings national trade group for community and Loan in 1957 and served as chair- banks, based in Washington, D.C. man and CEO of the thrift institution Nocella is a 30-year veteran of the for many years. banking industry. His career began He served on various boards, includ- with the holding company for the Phila- ing Texas Bank & Trust in Dallas/First delphia Saving Fund Society in 1974. City Bank of Dallas. He co-founded Houston-based Bank He was a graduate of The University of United Corp. in 1988 and was its vice Texas at Austin with a BBA degree chairman and CFO until its merger in Q 2001. He joined Franklin Bank in 2002. Franklin Bank is now a publicly-traded $5.2 billion holding company Q

Quinn Named EVP for MAZON#1 Community National Community National Bank, Bellaire, has named Douglas P. Quinn executive vice president and officer of its newly established mortgage broker- age division Q visit Bankers Digest on-line: www.bankersdigest.com

Page  BANKERS DIGEST December 11, 2006 MONEYPASS #2 4-COLOR- routes

December 11, 2006 BANKERS DIGEST Page  p e o p l e OKLAHOMA LOUISIANA NEW MEXICO Bjornson Named Mkt Oubre Promoted to AVP at Sayre Hired as VP/Trust, Pres, Thompson SVP St. Martin Bank and Trust First National of Santa Fe Citizens Security Bank & Trust Co., Renee Oubre has been promoted to Karen Sayre has been hired as vice Bixby, has named Sandy P. Bjornson assistant vice president and commer- president and trust operations manager market president and Stanley N. cial loan officer I at St. Martin Bank and for the First National Bank of Santa Fe. Thompson senior vice president of the Trust Co., St. Martinville. She has more than 24 years of experi- 81st St. and Yale Ave. location in Tulsa Oubre began her banking career at ence in trust operations and manage- which is under construction. St. Martin Bank and Trust. In August ment. She serves at the main office at Bjornson has 25 years of banking 1994, she was named administrative 62 Lincoln Ave. at Palace Ave. Q experience. He most recently served assistant to the bank’s senior com- as president/East Bank for Community mercial lender Q Bank & Trust Co., Tulsa, at 9004 E. 61st ARKANSAS St. South. Retired First National of La- Burns Joins Farmers Bank, Thompson has 31 years of experience fayette AVP Lantier Dies in the financial services industry, with Magnolia, as Vice President Curtis Lantier, 76, died November 14 20 years in banking and 15 years in SBA Elizabeth Burns has joined Farmers at Lafayette General Medical Center. lending. He also previously served with Bank & Trust Company in Magnolia Community Bank & Trust Co., Tulsa, as He was a native of Scott and a lifelong as vice president in the commercial senior vice president and loan officer resident of Lafayette. banking division. She develops state- He was a veteran of the U.S. Navy and Q wide participation commercial loans served with Allied Finance for five years in northwest AR and in the Little Rock BOK, Tulsa,Taps Anderson before his banking industry service. market. She splits her time between a Sara B. Anderson was appointed as- He retired as assistant vice president satellite office in Little Rock and at the sistant vice president, senior product and branch manager with The First Na- main office in Magnolia. manager, commercial banking division, tional Bank of Lafayette after 15 years She is the daughter of bank chairman of service Bank of Oklahoma, N.A., Tulsa Q Q and president/CEO Bob L. Burns Q

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Page  BANKERS DIGEST December 11, 2006 N E W S W A T C H TEXAS ARIZONA First National of Goliad to First National Bank SW Wachovia Is Hiring in Merge with American Bank Opens 4th Office in Dallas Phoenix and Western States First National Bank of Goliad will offi- First National Bank Southwest has Carlos Evans, the head of Wachovia cially merge with Corpus Christi-based opened its fourth office in the north- Corp.’s commercial banking unit, said American Bank, N.A., in 2007. Though ern suburbs of Dallas. The new branch recently in Boston that his group has the bank was purchased by American opened November 13 in West Plano at begun hiring commercial lenders in Bank’s parent, American Bank Hold- 2913 Legacy Drive. Arizona and other Western states, and ing Company, in January 2004, its two FNB Southwest is the TX trade name using its growth model in Texas as a locations have operated as stand-alone of First National Bank of Omaha, which recruiting tool, according to Will Boye banks. At the start of 2007, customers has $6.8 billion in assets, mostly in NE. of The Charlotte Business Journal. can expect to see new logos and sig- The institution is part of a $14.3 billion Wachovia recently began hiring sales nage reflecting the change. family-owned bank holding company, directors and commercial lenders in Al Jones, president and CEO of Lauritzen Corp., which operates banks Phoenix and other Western states. The American Bank, said the merger has in IL, CO, KS, SD, IA, GA, and NE. bank is entering those markets through First National entered TX in 2000 and its acquisition of Golden West Financial been approved by both banks’ boards operates offices in Plano at 1300 Pres- Corp.,Oakland, CA, which operates as and is expected to be effective at the ton Rd. and in Frisco at 4500 Preston World Savings Bank. There are 15 World beginning of next year, pending regula- Rd. and 1961 Teel Pkwy Savings locations in Arizona tory approval. Q Q Bill Whitworth, First National Bank of Goliad president, told the Corpus Christi Caller-Times he will serve as a regional bank manager for the new American Bank offices in Goliad and Victoria. American Bank currently has 11 branches: seven in Corpus Christi, one NATIONAL MODULAR #4 in Port Aransas, one in Rockport, one in the Westlake area of Austin, and one in Lakeway Q

MISSISSIPPI BancorpSouth to Merge with Missouri Banking Company BancorpSouth Inc., Tupelo, and City Bancorp, parent company for The Signature Bank, Springfield, MO, have signed a definitive agreement which calls for City Bancorp to merge with and into BancorpSouth. The Signature Bank currently oper- ates six full-service banking locations in SUMMIT Springfield and an LPO in Clayton, MO. The Signature Bank had approximately $847 million in assets and $600 million in deposits as of September 30, 2006. The transaction is valued at approxi- mately $170 million, and pursuant to the terms of the merger agreement, shareholders of City Bancorp would receive 50 percent cash and 50 percent BancorpSouth common stock. The merger is subject to necessary approvals Q

December 11, 2006 BANKERS DIGEST Page  r e g u l a t o r s ciation, New Orleans, for a branch at application by Hancock Holding Com- 1805 Southwest Railroad Ave., Ste. C, pany, Gulfport, to acquire 100% of the C h a r t e r Hammond. outstanding shares of Hancock Bank It has approved an application by The of Alabama, Mobile, AL (in organiza- Highlands Bank, Jackson, for a branch tion). a c t i v i t y at the 8800 block of Sullivan Rd., Baton New Mexico Rouge. BRANCHES Arizona It has filed an application by First Peoples Bank, Lawrence, KS, has filed BRANCHES NBC Bank, Harahan, for a branch at application with the FDIC for a branch The OFFICE OF THE COMPTROL- 5359 Mounes St., Ste. E, Harahan. at 7300 Jefferson St. NE, Albuquerque. LER OF THE CURRENCY has approved It has approved an application by Oklahoma an application by JPMorgan Chase First Community Bank, Hammond, BRANCHES Bank, N.A., Columbus, OH, for a branch for a branch at the corner of LA Hwy The OCC has received an application at 10746 E. Baseline Rd., Mesa. 59 and Harrison Ave. Extension, Abita by Bank of Oklahoma, N.A., Tulsa, for a Louisiana Springs. branch at 3501 Northwest Expwy. St., BRANCHES It has filed an application by Red Oklahoma City. The OFFICE OF FINANCIAL INSTI- River Bank, Alexandria, for a branch at Texas TUTIONS has filed and approved an 9045 Ellerbe Rd., Ste. 101, Shreveport. CHARTERS application by Sabine State Bank and MERGERS AND ACQUISITIONS The TEXAS DEPARTMENT OF Trust Company, Many, for a branch at The FEDERAL RESERVE BANK BANKING has approved an application 565 E. Gibson St., Jasper, TX. OF ATLANTA has filed an application for a bank charter by Westbound Bank, It has approved an application by by Whitney Holding Company, New 655 W. Grand Pkwy., Katy. Citizens Bank & Trust Company of Viv- Orleans, to merge with Signature Finan- BRANCHES ian for a branch at LA Hwy. 1 (Lot 1, cial Holdings Inc., and thereby acquire The OCC has received an applica- Northport Subdivision), Shreveport. its subsidiary, Signature Bank, both of tion by First Community Bank Central It has filed and approved an applica- St. Petersburg, FL. Texas, N.A., Meridian, for a branch at tion by Statewide Bank, Terrytown, for Mississippi 130 North New Rd., Waco. a branch at 2037 Gause Blvd., Slidell. MERGERS AND ACQUISITIONS It has received an application by Cen- It has filed and approved an appli- The FRB OF ATLANTA has filed an tury Bank, N.A., Texarkana, for a branch cation by Fidelity Homestead Asso- at 4000 Legacy Dr., Plano. MERGERS AND ACQUISITIONS The OCC has received an application by American Bank, N.A., Corpus Christi, for the merger of First National Bank of Goliad with and into American Bank, N.A., Corpus Christi. The TXDB has received an applica- tion by Prosperity Bank, El Campo, for a merger with State Bank, La Grange. It has approved an application by Happy State Bank, Happy, for a merger with American Church Trust Co., Hous- ton. It has approved an application by American Church Trust Co., Houston, to merge with Houston National Invest- ment Corp., Inc., Houston. It has approved an application by Pa- triot Bank, Houston, for a merger with Northeast National Bank, Mesquite. It has approved an application by Enterprise Bank, Houston, for a merger with Texas Premier Bank, N.A., Brook- shire. It has approved an application by First Bank of West Texas, Coahoma, to purchase and acquire the Big Spring branch of Western National Bank, Odessa.

Page  BANKERS DIGEST December 11, 2006