www.theBHCA.org — Summer 2016 BankThe magazine of the Bank OwnerHolding Company Association Economics & Politics Spring Seminar themes inspire discussion about future INSIDE: Spring Seminar coverage - L..... - S.... - F...... A glimpse into membership Fed Notes: Accurate filings key The following companies are Associate Members of the Bank Holding Company Association: Abdo, Eick & Meyers Dedicated Commercial HTG Architects Piper Jaffray Fixed Income Edina, Minn. Recovery, Inc. Eden Prairie, Minn. Minneapolis Brad Reich, partner Roseville, Minn. Jeff Pflipsen, partner Matthew R. Banks 952-835-9090 Shane Davis, president 952-278-8880 612-303-0606 612-351-3945 Allied Solutions LLC Insurance Strategies, Inc. Promontory St. Paul, Minn. Dougherty Funding, LLC Elm Grove, Wis. Interfinancial Network Greg Rueter, regional VP Minneapolis Deb Forsaith, president Des Moines, Iowa 651-366-6988 Jerry Tabolich, EVP/COO 800-236-6866 Steve Davis, regional director 612-317-2000 515-240-5451 Allison-Williams Company J.T. Miller Company, Inc. Minneapolis Eide Bailly, LLP Hamel, Minn. Reinhart Boerner Van Deuren S.C. Greg Larson, senior vice president Minneapolis Dirk J. Miller, president Milwaukee 612-333-3475 Don Johnson, CPA Partner 763-512-1950 James Sheriff 612-253-6500 attorney Anastasi Jellum, P.A. Leader One Financial 414-298-1000 Stillwater, Minn. Executive Minneapolis Nick Jellum, president Compensation Institute Dennis Eroman RSM 651-439-2951 Bloomington, Minn. 612-619-3971 Minneapolis Thomas Lynch, wealth coach Craig Murphy, Bank Financial Services Group 952-885-2727 Lindquist & Vennum, PLLP managing director Edina, Minn. Minneapolis 612-376-9295 Mark Blake, partner Equias Alliance Scott Coleman, attorney 800-931-7782 Prior Lake, Minn. 612-371-2428 SHAZAM Eric Hilgenberg, consultant Johnston, Iowa Barack Ferrazzano 952-435-7737 Malzahn Strategic James Ghiglieri Chicago/Minneapolis Maple Grove, Minn. SVP-relationship development Joseph Ceithaml, attorney Federal Home Loan Bank Marci Malzahn 866-590-4794 312-629-5143/952-500-9991 of Des Moines 612-242-4021 Des Moines, Iowa Stein & Moore, P.A. Brady, Martz & Associates, P.C. Dan Laird, vice president/ Meyer-Chatfield/e4 Brokerage St. Paul, Minn. Grand Forks, N.D. member services Jenkintown, Pa./Fargo, N.D. Peter B. Stein Peter Hoistad, CPA 800-544-3452 James Calla/Dan Peterson, SVP 651-224-9683 701-795-7451 800-444-BOLI/866-356-3203 FiServ Stinson Leonard Street LLP CASE Financial West Des Moines, Iowa Modern Banking Systems Minneapolis Anoka, Minn. Jeff Williams, VP, Ralston, Neb. Adam Maier, attorney Troy Case, president regional sales manager Robert E. Neville, president 612-335-1412 763-323-1048 515-224-8396 800-592-7500 Strategic Resource Management CBIZ AIA Fortress Partners Northland Securities, Inc. Memphis, Tenn. Brooklyn Center, Minn. Capital Management Minneapolis Ben Mrva, executive vice president Kris St. Martin Hartland, Wis. Michael Harlander, 901-681-0204 763-549-2267 Jon Bruss, managing principal/CEO managing director 262-369-1095 612-851-5992 Sycorr CenterState Bank, N.A. Fargo, N.D. Atlanta, Ga. Fredrikson & Byron Oak Ridge Financial Jeremy Neuharth, president Erik Bagwell, AVP, Bus. Dev. Minneapolis Golden Valley, Minn. 701-212-1155 Craig Mueller, 770-630-2042 Karen L. Grandstrand, partner 612-492-7000 senior vice president UMACHA CliftonLarsonAllen 763-923-2205 Brooklyn Park, Minn. Minneapolis FTN Financial Fred Laing II, president Neil Falken, CPA, principal Memphis, Tenn. Olson & Burns, P.C. 763-549-7000 612-376-4500 Sally Pace, senior vice president Minot, N.D. 800-456-5460 Richard Olson, attorney Winthrop & Weinstine, P.A. Country Club Bank 701-839-1740 Minneapolis Capital Markets Group Gislason & Hunter LLP Edward J. Drenttel, attorney Eden Prairie, Minn. New Ulm, Minn. OneBeacon 612-604-6400 Josh Kiefer, investment officer Michael Dove, attorney Professional Insurance 800-288-5489 507-354-3111 Plymouth, Minn. Wipfli Craig Collins, St. Paul, MInn. David R. Peltz, P.C., Ltd. Gray Plant Mooty president financial services Jason Wimmer, partner Minneapolis Minneapolis 866-827-0861 651-636-6468 David R. Peltz, CPA, president Sally Stolen Grossman, attorney 952-525-0336 612-632-3000 Performance Trust Capital Partners, LLC Chicago Michael Ritter, vice president 312-521-1459 2 Bank Owner — www.theBHCA.org The Bank Holding Company Association Mission Statement: Summer 2016 The Bank Holding Company Associ- Bank Owner ation, the premier national organization for bank holding company owners, di- rectors and employees, provides educa- CONTENTS tion and networking opportunities to those who work in, or serve, the finan- Columns: cial services industry. Through seminars, webinars, printed materials and other President’s Observations: means, the association supports the vi- Survey results offer insights into member expectations for BHCA ............................4 tality of bank holding companies. By Paul Means Down to Business: Our organization: The Bank Holding Company Associ- A board leadership change, mini-seminar report, and other news from your ation, founded in 1981, welcomes association ................................................................................................................5 Members from around the country. By Tom Bengtson Holding companies of all sizes from throughout the Midwest make up a Features: majority of the current membership. Companies that serve bank owners, Seminar Coverage: their holding companies and banks, are Speakers urge bankers to consider non-traditional business approaches .....................6 welcomed as Associate Members. The BHCA is run by a board of directors Gov. Pawlenty notes industry, political challenges for bankers and the nation ..............8 and a managing director. Washington Post journalist takes in-depth look at passage of the Dodd-Frank Act .........9 Our magazine: Regulators pushing directors deeper into bank management issues ......................10 Bank Owner magazine is the quarterly Coverage by Matthew Doffing publication of the BHCA. It is your best source for information about bank holding company and bank ownership Departments: issues. The magazine also is your best source for BHCA information, includ- Associate Member Listing .........................................................................................2 ing upcoming events. Members receive Holding Company Transaction Report .....................................................................12 the magazine in the mail and have ac- cess to an online version in the mem- bers-only section of our web site, www. theBHCA.org. The magazine also is Fed Notes: distributed to bank owners and holding Accurate filings help applications to process more quickly .....................................13 company professionals who are excel- By Zachary Lundquist lent candidates for membership. The Bank Holding Holding Company List: Company Association Minnesota ..............................................................................................................15 7400 Metro Blvd., Suite 217 Minneapolis, MN 55439 Welcome New Members ........................................................................................18 Tel. (952) 835-2248 Toll Free: (800) 813-4754 www.theBHCA.org Bank Owner is published quarterly by the Bank Holding Company Association. Managing Director Tom Bengtson serves as editor. Contact him at (952) 835-2248 or 1-800-813-4754 or via e-mail at [email protected]. © 2016 The Bank Holding Company Association Summer 2016 3 PRESIDENT’S OBSERVATIONS 2016 BHCA Board of Directors: President Survey offers useful insight into BHCA membership interests Paul Means Great River Holding Company As Tom Bengtson explains in his column, I became president of the Bank Baxter, Minn. Holding Company Association at a meeting of the board of directors on May 2, following the resignation of Michael Vekich. I am an avid supporter of the Vice President BHCA and am pleased to continue my board service to the organization as Chad Bergan president. Dacotah Banks, Inc. Aberdeen, S.D. I am chairman of the $335 million RiverWood Bank which has 10 branches in Northern and Central Minnesota. I also am a founder and Treasurer/Secretary chairman of our holding company, which is based in Baxter, Minn. I joined Larry D. Peterson the bank in 2003 initially serving as CEO until 2006 at which time I First Financial Services Inc. Moose Lake, Minn. became chairman. Prior to that, I worked in Baxter, Minn., as president of Northern National Bank. In the early 1990s, I worked at Boatmen’s Bank in Past President Spencer, Iowa. Earlier in my career, I worked for First Bank offices in Duluth, By Paul Means Erick Gandrud Sioux Falls and Worthington. I have a Bachelor of Arts degree in Business Great River Holding Company Eagle Investment Company, Inc. Glenwood, Minn. Administration from Buena Vista College in Storm Lake, Iowa, and I am a Baxter, Minn. graduate of the Graduate School of Banking at Madison, Wis. Directors: I have been active in the Brainerd Lakes Area Economic Development Mary Jayne Crocker Corporation, YMCA, Rotary Club and the Brainerd Basketball Association. My wife, Marcene, and Bridgewater Bancshares, Inc. I will be celebrating our 40th wedding anniversary this summer. We have two grown children. My Bloomington, Minn. oldest son, Matt, is a Business Banker at Bridgewater Bank and my youngest son, Mitchell, is a CPA Bruce Ferden with Grant Thorton in Minneapolis. We have three grandchildren. Hobbies include golfing, fishing, Frandsen Financial