The Arkansas Banker by Arkansas Bankers Association

SUMMER 2022

Convention Recap

Section 1071

Efforts Underway for Relief pg 32

The State's Bankers Hold Annual Event pg 38

ESG Strategies

Are you doing it already? pg 16

GREAT

SCOTT! B A N K E R R A N DY S C OT T E N T E R S A S C H A I R M A N O F T H E A B A

THE ARKANSAS BANKER

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SUMMER 2022

A PUBLICATION OF THE ARKANSAS BANKERS ASSOCIATION

CONTENTS

SUMMER 2022 VOLUME CV, NO. 2

ARKANSAS BANKERS ASSOCIATION STAFF

President/CEO Lorrie Trogden VP/Controller Carla Brinkley VP/Professional Development Kami T. Coleman

Technology & Design Director Jessica Sahene Executive Administrative Assistant Peggy Cecere

EDITORIAL STAFF

Editor Roby Brock Creative Director Ashlee Nobel

Lee Lee Arts + Design

Contributing Writers

Jim Bullard, Derek Eckelhoff, George Jared, Rob Nichols, Cole Plafcan, Randy Scott, and Amy C. Waninger

02 06

President’s Message Professional Development

Columns 04 08 12

Chairman’s Column Washington Update Emerging Leaders

Features The Arkansas Banker (ISSN 004-1726) is published quarterly by the Arkansas Bankers Association, 1220 West Third Street, Little Rock, AR 72201. Phone: 501.376.3741. Periodical postage paid at Little Rock, AR. Postmaster: Send address changes to Arkansas Bankers Association, 1220 West Third Street, Little Rock, AR 72201. Subscription to The Arkansas Banker magazine is included in the membership fees to the Arkansas Bankers Association. Cover price is $5.95 each. Annual subscription rates are $40.00 for members and $60.00 for non-members. Federal tax law prohibits the deduction of lobbying expenses for federal incomes tax purposes. Organizations like ABA, which assess member dues, are required by law to notify their members of the portion of their dues attributable to lobbing/and therefore non-deductible on your federal tax return. For the year 2021, it is estimated that 13.32% of your dues will be attributable to lobbing as defined by the IRS. Contributions to ABA are not charitable contributions, however, they may be deductible as a legitimate business expense.

ESG - Environmental, Social, and Governance Issues What does it mean for community banks?

COVER STORY

20 Farm to Table

Randy Scott's farming roots prepared him to lead the ABA's executive roundtable

Departments BANKER Q&As

10 14

Five Minutes With ... Landi Mkhize

INDUSTRY UPDATES

2022-23 Leadership

Payment Technologies

Down on the Farm

Section 1071 Burdens

Walking Away with Papercuts

Annual Convention Recap

NEWS & MOVES

ON THE COVER

Chairman of the Board Randy Scott. Photography by Lloyd Photography Studio

The Millennial Minute: Brandi Ray

Our Executive Committee and Board of Directors Opportunities and concerns surrounding cryptocurrency, blockchain and decentralized finance Challenges of agriculture in Arkansas Arkansas lawmakers try to lighten the load

Microaggressions in the workplace

Over 340 bankers came together for a great speaker lineup, sold out trade show, and networking

THE ARKANSAS BANKER

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PRESIDENT’S MESSAGE Lorrie Trogden

President & CEO

Arkansas Bankers Association

et’s talk about leadership. Specifically, your leadership in the Arkansas Bankers Association. There’s room at the ABA for everyone to participate in a leadership role and I’ve outlined some of those here.

Leadership In Banking Academy – The ABA in partnership with the Walton College of Business Executive Education, is now taking applications for the inaugural 2022-2023 class. You will find additional information about this program in the magazine and on our website. We are very excited about this program; it was created to develop a network of dynamic leaders who can move the Arkansas banking industry into the future. Those selected will gain the necessary skills to motivate, inspire and lead high-performing teams in their organizations and communities. This program is open to any banker over 25 years old with at least three years in banking. Applications are due by August 26th. Take an Active Role in ABA Leadership – Nominations will open in November for ABA leadership positions. These include Board of Directors, Association Officers, Emerging Leaders Council, and Group Vice Chairman. Each group elects someone to serve in each of these positions. Serving in an ABA leadership position not only allows you to give back to the profession that we care so much about, but also provides you with an outstanding leadership and professional development opportunity. ABA leadership and the board value and strive for inclusive representation of volunteer leaders that reflects our organization, membership, and profession. Our success today and into the future relies on our ability to capitalize on diverse perspectives and points of view resulting from a balance of race, gender, age, experience, industry, skill set, nationality, ethnicity, and other factors deemed relevant. The nomination process fully appreciates, considers, and is informed by the value derived from diverse representation.

“A leader is one who knows the way, goes the way, and shows the way.” - John Maxwell

Bill Holmes Leadership Award - This prestigious distinction will recognize outstanding leadership among the emerging leaders in Arkansas banking. Please consider nominating rising stars in your institution who contribute to team success, industry success, and make an impact on their community. One statewide award is issued each year at the Emerging Leaders Leadership Conference. Nominations will be accepted from any member source. Nominees must be a current banker and member of the Arkansas Bankers Association. Nominations are now open and can be found on our website and in our weekly eNews email. (If you are not subscribed, let us know!)

Arkansas Bankers Association Power Woman in Banking Award – This award celebrates a woman in banking who has made positive and substantial contributions to her industry, is active in the community, and goes the extra mile to promote and inspire women to reach their full potential. A successful nominee: Has achieved success within a leadership role; Displays qualities of courage, values and ethics; Demonstrates undeniable enthusiasm for her industry, institution, the ABA, and the community in which she lives and works; Displays the ability to utilize her skills within and outside of her career; Has passion for being a change agent; and Is driven to accomplish great things. This award is presented each year at the ABA Women in Banking Conference. ABA Emerging Leaders Section Leadership Conference – This conference is not just for young bankers. Emerging leaders encompasses anyone at the bank that wants to go into a leadership

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role or is currently in a leadership role and wants to strengthen their skillset. The conference this year will be held in Northwest Arkansas October 24-26th. An ABA BankPAC golf tournament will be held in conjunction with the conference. Be sure to read ELS Council President Derek Eckelhoff ’s column for an overview of ELS projects you can get involved with.

Industry Advocacy – You knew this was coming! I repeat it often because advocacy is vital to help our industry thrive and best serve our customers. Every phone call, every email, every online submission, every text, every PAC check, etc. are all ways you play a part in government relations leadership. It takes all of us to create the roar of a lion that can be heard from the state capitol all the way to the Hill in D.C. Our industry has been under heavy attack for two years now under the current federal administration, and it’s up to us to ensure the safety and soundness of the banking system. It is election season, and we need PAC contributions to make sure the candidates that understand banking have a seat at the table. The next state legislative session starts in January and when the call goes out to contact your legislator, I ask that you add your voice to our lion’s roar. None of us are ever too small to make a difference in our industry, in our state, and in our local communities. I hope you will lend us your talent and get involved in ABA leadership.

ABA

OFFICERS Randy Scott, Chairman

Farmers Bank and Trust, Blytheville

Jim Taylor, Chairman-Elect First Security Bancorp, Rogers

Brad Chambless, Vice Chairman

Farmers and Merchants Bank, Fayetteville

Lori Ross, Treasurer

Citizens Bank, Arkadelphia

Jim Cargill, Past Chairman Arvest Bank, Little Rock Lorrie Trogden, President & CEO

Lorrie Trogden, President & CEO

Arkansas Bankers Association, Little Rock

CONGRATULATIONS to the GSB SCHOLARSHIP WINNERS

BOARD OF DIRECTORS

Joe Dunn, Little Rock Derek Eckelhoff, Rogers Robert Husong, Rogers Gary Kleck, Springdale Cody Knight, Piggott Wilson Moore, Little Rock Scott Saffold, Monticello Loren Shackelford, Fayetteville

EARL LEVON OGDEN III

BRAD MARTIN

Rob S. Tiffee, Little Rock

SVP/Area Loan Manager

Assistant Vice President

ARVEST BANK

CITIZENS BANK & TRUST

Van Buren

Scott Walker, El Dorado

PROCHNOW EDUCATIONAL FOUNDATION/ABA SCHOLARSHIP Graduate School of Banking at the University of WisconsinMadison – Madison, WI

GSBC/ARKANSAS BANKERS ASSOCIATION FUTURE LEADERS SCHOLARSHIP Graduate School of Banking at Colorado – Boulder, CO

Jay Wisener, Little Rock

Fayetteville

Jamie Waller, Magnolia

THE ARKANSAS BANKER

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CHAIRMAN’S C O LU M N

Level the Playing Field Randy Scott

Chairman

Arkansas Bankers Association

he 132nd Annual Arkansas Bankers Association Convention was a huge success, and it was great to see so many people in person again.

A comment that echoed more than once was that it seems fewer and fewer bankers attend each year, and that statement is true. The number of banks in Arkansas is declining rapidly, as it is across the United States. In 1931, Bert Lynch served as chairman of the Arkansas Bankers Association. Mr. Lynch was president of Farmers Bank and Trust, Blytheville, and is the only other banker from Blytheville or Mississippi County to serve as Chairman of the ABA in the past 132 years. In his day, 420 banks were chartered in Arkansas. We were amid the Great Depression, and it was two years before the FDIC was formed. I cannot imagine all the issues facing our industry in those years when bank failures were a daily occurrence. Today, the number of Arkansas chartered banks has shrunk to 84, but our concerns are very different from those of our predecessors. Our competition doesn’t come from the bank down the street; we are pitted against the non-banking sector, and those rivals are not burdened by the government regulations placed on our industry, nor do they have a tax encumbrance equal to ours. The Arkansas Bankers Association will continue to address those concerns in Washington, DC, in the coming year. With each of our issues, the message is simple: Level our playing field.

ECORA (Equal Credit Opportunity for Rural America) is one piece of legislation that has gained attention nationally and accomplishes precisely what community banks need to compete in a fair environment with Farm Credit. While we believe that ideally, Farm Credit should pay income taxes as banks do, this bill would remove taxation of banks on income earned through farmland loans. The bill, sponsored by both Senators Boozman and Cotton, shows promise of passage. We also need a level playing field with the credit unions. This segment is rapidly buying up banks across the United States, repositioning them under the tax-free shelter provided to credit unions, and removing tax-paying banks from the federal tax rolls. Credit unions walk and talk like banks, but they do not pay taxes like banks. Our federal government is looking for more revenues, so tax credit unions! This would level our playing field and stop credit unions from the buy-up of commercial banks. The third area of concern is cryptocurrency. Regulators must apply consistent oversight and supervision of these products

“I look forward to the next year as your association chair ... You can trust that I will be fighting for a level playing field for our 84 banks who call Arkansas home.” 4

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for banks and non-banks alike to ensure that customers are protected equally, regardless of where in the financial marketplace they engage. Cryptocurrency initially was intended to disrupt banking by decentralizing finance, but consumers are increasingly seeking help from banks in the safe holding of these assets. Their digital and programmable nature allows cryptocurrencies to be used to facilitate financial activities that mirror the products and services of traditional institutions. However, significant regulatory uncertainty and an uneven application of existing rules lead to risks for consumers and our financial systems. Finally, we will continue to hammer Congress to give CFPB (Consumer Financial Protection Bureau) the authority to supervise nonbank lenders to ensure compliance with fair lending laws. In particular, the Bureau is not authorized to supervise nonbanks making small business loans. We ask for a level playing field from the CFPB—which has strong-armed the banking industry since its 2011 formation—on non-bank entities entering the banking market. The current lack of supervisory oversight for nonbank lenders significantly impedes the ability to detect potential discrimination in that market segment. We know our industry is ever in flux, and the Arkansas Bankers Association wants to make sure Arkansas banks are prepared for the many changes ahead. As an industry, we follow the regulations and pay our taxes, and we only want everyone who uses the verb “bank” to be treated equally. I look forward to the next year as your association chair, and while these may be hard-fought battles, they must be fought. You can trust that I will be fighting for a level playing field for our 84 banks who call Arkansas home.

THE ARKANSAS BANKER

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PROFESSIONAL D E V E LO P M E N T

Calendar of Events J U LY - S E P T E M B E R 2 0 2 2

July 06

WEDNESDAY 9 A.M.– 3 P.M.

CRE LENDING IN T O DAY ’ S E C O N O M Y This virtual seminar will begin with a review of commercial real estate including types of properties and demand/ supply in the current market. The session will then cover the entire loan process by which a commercial real estate (CRE) loan is marketed, underwritten, approved, documented, closed, and monitored. The process will include a discussion of CRE underwriting techniques and loan documentation issues. Additionally, strategies to handle a problem CRE loan will be addressed.

August 10

W E D N E S DAY 9 A.M. – 4 P.M.

UNIVERSAL BANKER S T R AT E G I E S Today’s retail branch is a valuable delivery channel and customer touch point that is rapidly declining. The strategy for retail brick and mortar banking must be revisited. Explore the answers to these questions (and more) during this interactive training session. LOCATION: Virtual Learning

THURSDAY 9 A.M.– 4 P.M.

ESSENTIALS OF B A N K I N G : PA R T I

INSTRUCTOR: Christie Drexler LOCATION: Virtual Learning

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SUMMER 2022

ESSENTIALS OF B A N K I N G : PA R T I I

This informative, intensive three-day school is designed to educate and prepare consumer lenders. The program provides essential knowledge and skills, and establishes a network of lenders for continued support by sharing experiences with fellow lending professionals. LOCATION: ABA

TU E S DAY 9 A. M.– 4:3 0 P.M .

L OA N A S S I S TA N T S & PROCESSORS WORKSHOP

All of the objectives of this program are directed at increasing the performance effectiveness of the loan assistant/loan processor. This session is perfect for any members of the bank’s loan support staff with credit administration responsibilities.

INSTRUCTOR: Christie Drexler

INSTRUCTOR: Ron Rushing

LOCATION: Virtual Learning

2022 CONSUMER LENDING SCHOOL

INSTRUCTOR: David Kemp

THURSDAY 9 A.M.– 4 P.M.

This four-part virtual series is a must for the new bank employee, and all bank staff with up to five years’ experience in the industry. It is recommended that participants attend all four sessions of the series to receive an entire overview of banking; however, each session’s material stands alone.

LOCATION: Virtual Learning

We are pleased to offer the Essentials of Banking Series, designed to provide a complete overview of banking principles and operations. This four-part virtual series is a must for the new bank employee, bank veterans who are looking to deepen their banking knowledge, and all bank staff with up to five years’ experience in the industry. It is recommended that participants attend all four sessions of the series to receive an entire overview of banking; however, each session’s material stands alone.

INSTRUCTOR: Christie Drexler

INSTRUCTOR: David Osburn

MO N DAY 9 A. M.– W E D N E S DAY 4 P.M .

LOCATION: ABA

THURSDAY 9 A.M.– 4 P.M.

OPENING NEW ACCOUNTS

This full-day workshop, customized to your state law, teaches essential new account opening procedures, best practices, and compliance requirements. It answers complex questions asked by customers and staff while focusing on vital information for every new account type. INSTRUCTOR: Suzette (Suzie)

WEDNESDAY 9 A.M.– 4:30 P.M.

FOUNDATIONS FOR COMMERCIAL LENDING

This event provides an overview of commercial lending through an assessment, type and structure of a commercial loan, as well as building relationships with new and existing clients. You will learn the necessary skills to analyze, and if required, approve a business loan.

Jones, CFP®

INSTRUCTOR: Ron Rushing

LOCATION: ABA

FOR MORE INFORMATION ABOUT ABA TRAINING & EVENTS, AND TO REGISTER, LOG ON TO WWW.ARKBANKERS.ORG.

Sept 01

THURSDAY 9 A.M.– 4:30 P.M.

B A N K D I R E C TO R S I WO R K S H O P

This program lays a foundation for the base knowledge and duties, and responsibilities of Board Members. A key topic discussed will be the on-boarding of new Directors. Also, the development of a Director’s “Dashboard” that defines the desired attributes of future board members. We will cover the use of the Uniform Bank Performance Report (UBPR) and how to interpret this information to support the Director’s ability to make informed decisions. We will also discuss the Director’s responsibility to the key constituent groups (customers, stockholders, regulators, executives & staff.) INSTRUCTOR: David Kemp LOCATION: ABA

T H URS DAY 9 A .M.– 4 P.M.

14 15

INSTRUCTOR: Jack Holzknecht

ESSENTIALS OF BANKING: PART III

TH U R SDAY 10 A.M. – 3 P.M.

EDUCATION & TRAINERS FORUM

This virtual, three-part series forum provides an opportunity for bank trainers to exchange ideas freely, brainstorm challenges and examine pressing issues in today's ever-evolving regulatory, cost-conscience, and results-driven environment.

This program provides a review of the existing CRA rules, the FDIC's proposed rule, the OCC's final rule, and an explanation of the Federal Reserve Board's Advanced Notice of Proposed Rulemaking.

T H URS DAY 9 A .M.– 4 P.M.

This supervisor training will help take your expertise to a new level as you learn how to collaborate and coach your employees to excel on the job. Explore the coaching and leadership skills that lay out your plan for success as a highly effective supervisor in this results-oriented workshop! Whether you’re a new or seasoned supervisor, attendees find this experiential training invigorating, motivating and applicable to managing and supervising others. LOCATION: ABA

AT A GLANCE

SUPERVISOR BOOT CAMP

INSTRUCTOR: Karen Butcher

CRA REVIEW & UPDATE

LOCATION: Virtual Learning

W E D N E S DAY 9 A. M. – THU RS DAY 4 P. M.

J U LY

19 20 21 22 23

24 25 26 27 28 29 30 31

AU G U S T T

19 20

21 22 23 24 25 26 27 28 29 30 31

SEPTEMBER M

INSTRUCTOR: Dianne Barton

LOCATION: Virtual Learning

19 20 21 22 23 24

THU RS DAY 9 A. M. – 4 P. M.

ESSENTIALS OF BANKING: PART IV

This four-part virtual series is a must for the new bank employee, and all bank staff with up to five years’ experience in the industry.

The final part to this four-part virtual series that is a must for the new bank employee, and all bank staff with up to five years’ experience in the industry.

INSTRUCTOR: Christie Drexler

LOCATION: Virtual Learning

25 26 27 28 29 30

Live events are subject to a virtual learning environment. For more information, contact the ABA at (501) 376-3741 or Kami Coleman at kami.coleman@arkbankers.org.

THE ARKANSAS BANKER

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WASHINGTON U P DAT E

Rethinking the ‘GREAT RESIGNATION’ Rob Nichols

President and CEO

“ABA is partnering with more than 30 state bankers associations and pooling our resources to enhance Bank Talent HQ—the nation’s single best source for banking jobs.”

According to the Society for Human Resource Management, employees exited their jobs in record numbers over the 10-month period between March and December 2021, and the Federal Reserve continues to report ongoing labor shortages nationwide. As of February, there were 11.3 million job openings in the U.S., according to the Labor Department. For many workers, the desire to change jobs or careers was prompted by the pandemic—a massive period of upheaval that led them to rethink what they want and need in terms of work/life balance, job satisfaction, benefits and more. But that’s left employers scrambling to fill multiple vacancies, and shone an exceptionally bright spotlight on the need to have a strategy in place for recruitment, retention and talent management. The Great Resignation is affecting businesses of all sizes across all industries—and the banking industry is certainly no exception. While some of you may be feeling uneasy about the state of your own workforce, I submit that this is actually a time of great opportunity—because while a lot of people are leaving their jobs, it’s a signal that many talented employees are also looking for jobs and are open to career changes. That’s an opportunity that our industry can’t afford to miss. To help more talented and diverse individuals find their future in banking, ABA is partnering with more than 30 state bankers

associations and pooling our resources to enhance Bank Talent HQ—the nation’s single best source for banking jobs. Bankers can use Bank Talent HQ to post new job openings, and job seekers will use the platform to find great opportunities in banking. ABA will be busy sharing the real stories of dedicated employees in banking today. One of the things that makes our industry so attractive to prospective hires is the incredible range of opportunities that can come with a career in banking. Banks need marketers, IT experts, programmers, data wizards, cyber pros, compliance experts, human resources gurus—not to mention all the important positions people have long associated with banking, like loan officers or tellers. Bank Talent HQ will help connect more qualified people with our industry and the exciting career path that awaits them in banking. The Great Resignation has also prompted many banks to reconsider their benefits offerings. If you’re looking for a way to bring young talent in the door to stay, one strategy I highly recommend is to offer some form of student loan repayment assistance. It’s something we’ve tried at ABA with great success, and in my view, it’s one of the ways banks can distinguish themselves as some of the best employers in the job market. If your bank isn’t offering a student loan repayment option, I encourage you to

merican workers are quitting their jobs in record numbers—leading economists and pundits to dub the period we’re currently living through “the Great Resignation.”

American Bankers Association

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explore the possibility with your HR director. These programs can be tailored in virtually any way to support your organization’s talent acquisition and retention strategy. The reality is that many young people today are graduating college with the equivalent of a small mortgage’s worth of student debt. That is a tremendous burden, and stepping up to help your workers tackle this debt can set your bank apart both in recruitment and retention. Beyond offering perks, talented professionals also need ample opportunities to advance within the organization, hone their skills or explore new areas of interest. ABA offers a wide range of online training, continuous learning and certification programs for bankers at all levels of their careers. (You can check out all of these offerings at aba.com/DevelopTalent.) We also support up-and coming-bank talent through our Emerging Leaders Open Committee and our new Emerging Leader Awards, which recognize the next generation of high achieving bank leaders. Cultivating the next generation of bank talent is essential to ensuring the continued viability and vitality of our industry. At ABA, we are committed to bringing you the tools and resources you need to navigate the Great Resignation—and come out on top in the search for talent. Email Rob at nichols@aba.com.

THE ARKANSAS BANKER

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BANKER Q&A

THE

MILLENNIAL MINUTE with Brandi Ray Commercial Loan Officer Farmers Bank & Trust Co., Malvern

WHY IS IT IMPORTANT FOR THE YOUNGER GENERATION OF BANKERS TO GET INVOLVED IN THE GOINGS-ON IN OUR INDUSTRY? The younger generation of bankers will be the bankers of the future. They need to know the way things work, the way all things banking operate. There are so many things about banking that you don’t think about if you don’t work directly in the department that handles it. Banking changes every day and to keep up with it you must get involved and grow and change with the industry.

HOW DO YOU CONTINUE TO DEVELOP AS A BANKER AND LEADER? I never turn an opportunity down. If they asked me to go back and work the teller line for a while I would. I feel like I work for the bank not for a certain department of the bank. Every opportunity helps me grow as a banker and as a leader. I like to be able to connect with every department, every person I work with and for. Learning leads to leading. Jump in there and learn something new!

WHAT PROJECT HAS YOUR BANK PARTICIPATED IN THAT TOUCHED YOU THE MOST? Farmers created the Farmers Bank Foundation in 2021. Its priority is to support local nonprofits whose mission is to purposefully enrich the quality of life in the communities where Farmers Bank & Trust customers and employees live. We recently raised $105,000 for the Arkansas State Police Foundation with our annual golf tournament. We also raise money every year for the Arkansas Game and Fish Foundation with our annual Trap Shoot Tournament which is near and dear to my daughter, Gracie. I have a very outdoorsy family.

IF YOU COULD INVITE ANYONE OVER FOR DINNER, WHO WOULD YOU INVITE? WHAT WOULD YOU COOK (OR ORDER)? I would invite my boss, Scott White. Show him we can cook a better steak than him. Just kidding!

“Every opportunity helps me grow as a banker and as a leader. I like to be able to connect with every department, every person I work with and for. Learning leads to leading. Jump in there and learn something new!”

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HONORS

ECONOMICS ARKANSAS

T O M M Y M AY & ARKANSAS BANKERS A S S O C I AT I O N

Economics Arkansas was honored to recognize Mr. Tommy May with the 2022 Leadership in Free Enterprise Award on Thursday, April 28, at the Little Rock Marriott. The LIFE Award honors those who promote success in the free market. Economics Arkansas honored May for his contributions to the Arkansas banking industry as former chief executive officer and chairman of Simmons First National Corporation; May currently serves as the Simmons First Foundation chairman.

The LIFE Award was presented to May by Governor Asa Hutchinson (right), Economics Arkansas Board Chair Randy Lawson (left), and Executive Director Kathleen Lawson.

The Arkansas Bankers Association (ABA) was also recognized for its sixty years of partnership with the organization. The ABA has been an integral champion of economic and personal finance education since Economics Arkansas was formed in 1962. The annual ABA Chairman’s Campaign has raised over $2.1 million towards resource development and teacher training since it began. EVP, Sales Manager with Arvest Bank Robyn Breshears (left), ABA Board Chairman Randy Scott, and Economics Arkansas Executive Director Kathleen Lawson.

THE ARKANSAS BANKER

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EMERGING LEADERS

Before You Can Lead Others, You Must First Lead Yourself Derek Eckelhoff

President

Emerging Leaders Section

’ll begin by saying I’m honored to be serving as the 2021-2022 President of the Emerging Leaders Section (ELS) of the ABA. An active focus of the ELS council

is the cultivation of the next generation of industry leaders. As President of ELS, I have the opportunity to serve on the ABA Board of Directors alongside some of the best banking minds in the state. I know that I am surrounded by a wealth of leadership knowledge and I’m thankful to be learning from their decades of experience. One may ask, how did these great leaders start their leadership journey? I would venture to say that it started with an intentional effort to begin by leading themselves first. It is my belief that the building blocks of corporate leadership skills must start with YOU. These are what I feel to be important practices and methods for success in the pursuit of self-leadership. These are concepts from my own pursuit of leadership and are not exclusive to being successful in building internal leadership. Internal leadership can be obtained in many ways, these are merely brief suggestions. One could do a deep dive into the art of personal leadership, but I’ll be clear and concise.

MIND, BODY, AND SPIRIT •

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Keep your mind sharp. Be a continual learner, read for growth, and study great leaders. I’ve adopted and modified a reading strategy from a popular executive coach here in Northwest Arkansas. At any given time, I have three books going at once: one with a spiritual focus, one memoir (leadership, business, or military), and one with a great story (fiction or nonfiction). Keep your body fit. Staying fit, eating a healthy diet, and taking care of your body will have profound impacts on your health and well-being. It will help you have focus and energy to stay on the leadership path and will increase productivity. Look for a deeper meaning in life. Is it your faith, your family, people, etc.? This can help you connect with your “why” in life.

CREATE A PERSONAL MISSION STATEMENT (KNOW YOUR “WHY”) • •

Identify your core values, goals, and desired outcomes (this should be an annual endeavor – life is fluid!) Use your personal mission statement to inform and influence your decisions.

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Think about your actions and behaviors and whether they line up with your mission, goals, and how you want to be perceived.

FIND A MENTOR •

Be proactive in seeking out mentors in your industry and beyond. Don’t try to reinvent the wheel. There is way too much leadership wisdom out there left untapped. Don’t be afraid to ask someone to be your mentor – you might be surprised what they say.

It is vitally important to never stop improving. I routinely fail at my attempts to maintain the three points listed above. Sometimes, I adopt the one step forward, two steps back method. When this happens, I dust myself off and reset. Keep in mind that this is a journey and there will be setbacks. The goal is to take an honest personal inventory of your decisions and actions, and, of course, correct when needed. You must be intentional about creating a positive change in your life. Take it from me, I’m continually being humbled, and I consider my internal leadership skills to be a work in progress. Remember, leading yourself starts with you taking an active role in directing your life.

“The goal is to take an honest personal inventory of your decisions and actions, and, of course, correct when needed. You must be intentional about creating a positive change in your life.” 12

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FIRST SECURITY BANK Rogers Group 2

DUNCAN BELLINGRATH VICE PRESIDENT SIMMONS BANK Hot Springs Group 3

LATRECIA BRANCH SECRETARY/TREASURER STONE BANK Little Rock Group 1

ELS COUNCIL MEMBERS ETHAN BARNES

AMBER MURPHY

CENTENNIAL BANK Hardy Group 1

FIRST FINANCIAL BANK El Dorado Group 3

AARON BELL

BETH PRESLEY

FIRST SECURITY BANK Jonesboro Group 1

ARVEST BANK Fort Smith Group 2

IAN BRYAN

TY TEAGUE

SIMMONS BANK Russellville Group 2

FIRST NATIONAL BANK Little Rock Group 1

TAMMY ENGLE ARVEST BANK Siloam Springs Group 2

S E C T I O N

DEREK ECKELHOFF PRESIDENT

EMERGING LEADER

ELS EXECUTIVE COMMITTEE

THE ARKANSAS BANKER

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BANKER Q&A

FIVE VE minutes with...

Landi Mkhize

CFO Chambers Bank, Fayetteville

Q. HOW DID YOU GET

STARTED IN BANKING?

I began my banking career after graduating from University of Arkansas in 2005 and I joined the Arkansas State Bank Department. I worked there for 8 years during the great recession joining Chambers Bank in 2013. My time at the ASBD allowed me to learn the best and worst part of banking as I worked with banks who were fighting to survive in one of the worst economies since the Great Depression.

Q. WHAT TRAIT DOES THE

MODERN BANKER NEED TO BE SUCCESSFUL?

Adaptability to an ever-changing economy with different inputs than in the past. The banking industry has consolidated much quicker especially in the past 30 years and the skills necessary to stay relevant in the current industry require constant innovation, adaptation, and improvement. Banks’ competitors are more diverse than they have ever been, from money center banks, community banks, and various fintechs, including digital-only branches.

Q. WHAT PIECE OF ADVICE

DO YOU WISH YOU HAD KNOWN WHEN YOU STARTED YOUR CAREER?

Enjoy the journey. Sometimes we focus on the end outcome so much and don’t embrace the ups and downs that come with the experience; the ups to validate your choices and the downs to rally yourself to overcoming. Enjoy being in the moment with the people around you at the time because, in life, things change quickly.

“I think that banks have the opportunity to be more impactful in people’s lives by developing solutions to issues within our society, including removing barriers to credit for lower-to-moderate income individuals, improving savings behaviors within people and teaching the next generation the financial skills necessary to succeed.” 14

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the journey. Sometimes “weEnjoy focus on the end outcome so much and don’t embrace the ups and downs that come with the experience.

”

Q. WHAT IS THE BEST PART OF BEING A HOMETOWN BANKER?

Seeing the impact a bank can make in the community, especially in a smaller town. It is amazing to see that even nowadays a bank can be the center of the community and it can help in driving the growth. More importantly, I think that banks have the opportunity to be more impactful in people’s lives by developing solutions to issues within our society, including removing barriers to credit for lower-to-moderate income individuals, improving savings behaviors within people and teaching the next generation the financial skills necessary to succeed.

Join the Discussion • Promote community development in Arkansas • Advocate efforts to meet needs of underserved Arkansans • Build your CRA technical skills. • Collaborate with peers

Q. IF YOU COULD HOST A TALK SHOW, WHO WOULD BE YOUR FIRST GUEST?

Nelson Mandela. He was an activist in South Africa who advocated for the end of Apartheid, which was a legalized form of Racism. Mandela spent 27 years in jail to fight this form of government largely through non-violent methods. But the most amazing part of Mandela’s life came after prison, where he, with others, initiated the Truth and Reconciliation Commission which sought to air out the atrocities that happened in the past, but the main mission of the commission was to encourage reconciliation from the transgressors and forgiveness from the victims’ families. Mandela was the epitome of forgiveness and looking to find a solution by finding common ground. He understood that for black and white South Africans to prosper in the future, forgiveness had to be the first step. THE ARKANSAS BANKER

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E SG

PR ES E NTS N E W

CHALLENGES

but in many ways, it’s just

OLD SCHOOL BANKING by Roby Brock

SG – environmental, social, and governance issues – is a new buzz acronym in the banking world.

The roots of ESG in its current context can be traced to a number of efforts over the past decade to address climate change, social justice and diversity at the corporate level. Forbes reported in April 2021 that the Prince of Wales and 40 banks worldwide joined in a working group called the Sustainable Markets Initiative’s Financial Services Task Force. Their goal was to understand how the banking industry impacts global sustainability efforts with a goal of net-zero emissions by 2030. This agreement not only targeted the industry's own carbon emissions, but also allocated lending and investment funds to organizations involved in the reduction of carbon emissions. So internationally, the ESG movement has many financial institutions reassessing everything from investment strategies to purchasing power. In Arkansas and at the local level, it may not be that complex. A community bank can only do so much and is unlikely to be part of a multi-national consortium dedicated to these worthy causes. However, a community bank can respond to its customers’ needs and concerns, and in the process, enhance its reputation as a leader in causes important to different generations. “Should a bank in Arkansas care about ESG? I think the short answer to that is that banks in Arkansas and everywhere else already

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care about ESG. They just may not call it by that name,” said Joe Pigg, SVP and Senior Counsel for the American Bankers Association. “Most community banks certainly care about what's going on in their community and what their customers’ needs and expectations are, and that's a big part of what ESG is. ESG is a relatively new term, but it's not really... For most community banks, it's at the core of what they've done for as long as they've been banks,” Pigg added. He explained that governance has been at the forefront of bank management efforts in recent years as boards have attempted to diversify their leadership at all levels. It’s not just race and gender, but it can also be military or veteran status or addressing language barriers. Addressing environmental concerns is unlikely to include a bank adopting a charter to join the Paris Climate Accord. However, a bank can do a lot to reduce carbon footprints through paperless processes, energy efficient lighting, or changes to landscaping techniques that reduce water usage or pesticide necessity. ESG recognition and efforts involve a top-down commitment to the environment, community, and stakeholders. According to a recent KPMG report, ESG efforts are increasingly seen by investors as key to the long-term value of a company. “What’s good for people is good for business—and that’s why financial leaders see opportunity in ESG,” the report noted.

A bank can do a lot to reduce carbon footprints through paperless processes, energy efficient lighting, or changes to landscaping techniques that reduce water usage or pesticide necessity. Pigg said banks have been at the forefront of social and community change for decades. “On the social front, does the bank give employees paid time off to do volunteer work? What's the bank CRA rating? The big overlap of ESG and CRAs in the social space is how does the bank serve its community and interface with it? “That can be, do you sponsor the little league team? Or things like that. Again, it's pretty Main Street kind of issues. Just paying attention to what's important in the community to help it thrive, not just from a lending standpoint, but from a community engagement standpoint,” Pigg said. Banks of different sizes will have to determine how they can best adapt to the ESG initiative as it maneuvers through corporate speak and definition. As indicated, this movement is relatively new and it can present itself in a number of ways that are unique and not cookie-cutter. In early June, Bank of America committed $40 million to help in a variety of ways with financing of health care facilities across the U.S. Touting this as an ESG effort, BoA said the money would be disbursed through philanthropic avenues, nonprofits and CDFIs through low-cost capital access. “We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership,” BoA said in a statement. “An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact.” Pigg predicts we will see some financial institutions issue ESG reports as a marketing tool to engage or recruit customers. That may not be the best route for every bank. He says there may be smarter ways to adopt ESG strategies and convey those to the community. “I am not a marketer, but the caution that I would say is if you are going to do an ESG report or a corporate social responsibility report, there's usually a lot to brag about. But be careful in your bragging and make sure that what you report and what you tout really matches what you do, and that you can back it up. “ESG is not, at this point, especially well-defined, and there's not a lot of regulation around it,” he said. “But at some point down the road, as with anything, if you report it, people are going to check your math. Make sure it adds up. Actually, I would say this: make sure your marketing department is talking to your compliance department.” THE ARKANSAS BANKER

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THE ARKANSAS BANKER

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FAR

TABLE TO

by George Jared

R ANDY SCOTT'S FARMING ROOTS PRE PARE D HIM TO LE AD THE ABA'S E XECUTIVE ROUNDTABLE .

andy Scott grew up on a family farm in the Missouri bootheel. His father and two older brothers worked on the farm, and at an early age, Scott realized he wanted to do something else with his life. He had a couple of cousins who were in the banking industry and it appealed to him. His cousins were free on weekends, got to spend a lot of time with their families and got to wear nice clothes. Scott was in the eighth grade when he made the decision to become a banker and 33 years after his career began, it’s a decision he's glad he made. Scott is serving as chairman of the Arkansas Bankers Association. He said the organization has a multitude of goals to accomplish in the coming year.

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“The best part about becoming involved with the Arkansas Bankers Association is the opportunity to meet so many bankers across the state and country. Sometimes, I feel like I live on an island alone in Blytheville; however, I find that the bankers in Little Rock deal with the same issues as bankers in Blytheville and Fayetteville and across the country,” he said. “I definitely didn’t choose to become involved in ABA because I had extra time on my hands. I chose to become involved because I feel it’s my obligation to give back to the banking industry that has been so good to me over the past 33 years,” he added. Scott is the president and CEO of Farmers Bank and Trust in Blytheville. He is responsible for leading the daily operations of the bank and leading about

PHOTO: Scott was in the eighth grade when he made the decision to become a banker and 33 years after his career began, it’s a decision he's glad he made. Photography by Lloyd Photography Studio

M THE ARKANSAS BANKER

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PHOTO: Scott’s career path led him to Farmers Bank and Trust in Blytheville starting in the summer of 2000. The bank was founded in Mississippi County in 1908. Photography by George Jared

60 employees and seven locations. He said he makes management decisions and executes strategic plans and objectives for the bank. He works closely with the Bank’s Board of Directors to facilitate all board meetings and provide reports from management. Scott communicates directly with the bank regulators and works with them during examinations, and he also manages a $100 million plus loan portfolio.

ISSUES Each year, the ABA meets with the state’s congressional delegation in Washington D.C. Two issues are at the forefront for the ABA, Scott said. One is that banks are not allowed to do business with cannabis companies. The problem extends further than that, however, Scott said. Banks can’t legally 22

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bank money that is made from even working for a cannabis-based company. For example, if an HVAC company puts a heating and air system in a cannabis business, a bank can’t legally deposit the money gleaned from that specific work. To correct this problem, Scott said ABA will be pushing the Arkansas congressional delegation to pass the SAFE Act to give banks legal cover in relation to these transactions. Another issue is competition from non-bank lenders such as credit unions and farm creditors. Federal and state income taxes have to be paid on bank-backed farmland and rural housing loans while many of these other non-bank lenders loans do not, he said. Not paying taxes allows them to charge lower interest rates on farmland and rural housing. To close this loophole, ABA supports the Enhancing

Credit Opportunities in Rural America Act, also known as ECORA. It’s a farmer-friendly bill to help lower the cost of financing farm and ranch real estate, according to the American Bankers Association. ECORA removes the taxation on income from farm real estate loans that are made by Federal Deposit Insurance Corporation backed financial institutions. By removing this taxation, the cost to make farm and ranch real estate loans will be reduced, and the savings will be passed on to farm and ranch customers. It is estimated that ECORA could reduce the average interest rate on a farm and ranch real estate loan by 21%. U.S. Sen. Tom Cotton, R-Ark., and U.S. Sen. John Boozman, R-Ark., both support ECORA. Scott and members of the organization have met with the state’s congressional delegation and will be back in Washington D.C. this fall to push for the act. “It has been a great opportunity to speak on behalf of all those bankers in Washington D.C. and Little Rock. We, as an association, need to stick together and stand up for our fellow bankers and our customers. Most of the time the issues we are talking to our legislators about is not something to benefit the

“I CHOSE TO BECOME INVOLVED BECAUSE I FEEL it’s my obligation to give back to the banking industry THAT HAS BEEN SO GOOD TO ME OVER THE PAST 33 YEARS.”

banking industry but to benefit our customers. For example, two of the hottest issues now are the SAFE Act and ECORA. Both of those bills would allow us to better serve our customers,” he said.

THE RIGHT TURN Scott’s road to the banking industry took a significant turn when he was in college at SouthEast Missouri State University (SEMO) in Cape Girardeau, Mo. During his senior year, he attended a career day on campus. He had majored in business administration and was trying to find a job in the financial sector. Mercantile Bank of St. Louis was looking for 15 graduating students to enter into its management training program. The bank scoured multiple

college campuses and had more than 1,200 applicants for those spots. After several interviews, Scott was one of the 15 chosen. He spent a year in the program and when he was done, he became a credit analyst. Of the 15 people in the program, he is the only one that is still in the banking industry. According to his testing and evaluations, it was determined that Scott had the right disposition to work in community banking, not at the corporate level, he said. The bank sent him to work in a troubled branch in Sikeston, Mo. Just before he arrived, the bank president had been fired along with the primary loan officer. Scott said he spent the next three years unraveling what had been done at that bank. It had many loan quality issues and several employees were stealing money. Often, after the bank closed, he would go home and eat dinner and then return to the bank. He spent hours studying microfilm to determine who was stealing money. He would send the information he gleaned to the FBI. It took awhile, but several employees were charged and convicted of stealing money. It was tedious work in the early 1990s before computers and technology advancements made it easier to track funds. “It was actually a great experience … I learned a lot about what not to do,” he said.

CLOSER TO HOME Scott’s career path led him to Farmers Bank and Trust in Blytheville starting in the summer of 2000. The move allowed him to move closer to home, and he was impressed by the bank’s ownership and management. Farmers Bank and Trust was founded in Mississippi County in 1908, according to the company. By 1916, it was located on Main Street in downtown Blytheville. The main branch has occupied the same space since 1920. Many banks in the region went out of business following the Great Depression during the 1930s. Then president B.A. Lynch utilized several creative ideas to keep his bank doors open. Lynch put large bags in the bank’s windows that had money poking out of the top to show that the bank was “flush with cash.” He also leveraged the trust and influence of local business leaders to avoid the dreaded “run on a bank” where panicked customers would show up and pull their cash. Lynch once asked G.G. Hubbard Sr., founder and operator of Hubbard and Hoke Furniture to go across the street from his furniture store to stand in line at the bank among a crowd of nervous customers. He and a few other Blytheville business leaders struck up a loud conversation about the current economic landscape. One said to the other, “I feel safe with my money here at Farmers Bank—I’m leaving THE ARKANSAS BANKER

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PHOTO: Scott and his wife, Susie, bought a farmhouse and 20 acres on Sandy Ridge and have become hobby farmers. Photography by Michael Pirnique

my money here.” The other agreed, chiming in, “Me, too.” Another added, “I’m here today to put more of my money in the bank.” It calmed the crowd and it soon dispersed and the bank remained open, according to historical accounts. When Scott arrived, he had to manage the bank’s daily operations of deposit operations, teller operations, customer service, branch operations, human resources, risk management, and information technology. He prepared and conducted annual performance evaluations for all operational officers. Scott was tasked with the development and implementation of operational policies and procedures to maximize efficiency. At the time, he managed a $50 million plus loan portfolio. In 2004, he was appointed as the bank’s president and chief operating officer. He held those positions until 2017 when he also took on the title of bank CEO. During this period, the bank’s loan portfolio ballooned past $100 million. There are many challenges facing the banking industry as the world emerges from the pandemic. Supply chain issues continue to run rampant, inflation is spiraling upwards, and world events such as the war in Ukraine impact global markets on a daily basis. One thing that could directly impact the banking industry, interest rate hikes, could be manageable for lending institutions if the circumstances are right, Scott said. There have been several rate hikes already this year, and several more are expected before the year ends. 24

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Lenders can handle the rate increases as long as it’s not all at once, he said. Steady, predictable increases are more tolerable to the system and can be dealt with, he added.

“A WAVE OF CONSOLIDATIONS HAS LEFT THE STATE WITH FEWER BANKS AS A WHOLE. One side effect

of that is a more ‘corporate bank model.’ A LOT OF THESE BANKS ARE LOSING CONNECTIVITY WITH THE CUSTOMERS AND COMMUNITIES THEY SERVE.”

HERE COMES TECH Technology and how people bank are other major changes in the industry. When he first entered the industry, computers were scarce. Now, the whole system is computer dependent.

Many customers prefer to bank through apps on their phones or computers. Fewer people are coming to brick-and-mortar banks. It’s a trend that will almost certainly continue into the future, and Scott said he’s not worried about that change. “Our industry has to change with the times. We have to offer the best technology options for our customers,” he said. Another problem is the lack of a diversified number of banks in the state, Scott said. A wave of consolidations has left the state with fewer banks as a whole. One side effect of that is a more “corporate bank model.” A lot of these banks are losing connectivity with the customers and communities they serve, he added. If he had to give a new banker or other young professional any career advice it would be to be patient. A lot of students coming out of college want immediate success and want to be the CEO of the company from day one, but it doesn’t work that way, Scott said. Success takes hard work, diligence, and in most cases, it will take some time, he said. Through the years Scott has dabbled with hunting, fishing and even golf, but it doesn’t consume a lot of his time. He takes trips to the family’s lake house on Norfork Lake. He also enjoys spending time with his daughter, Lauren and his son, Andrew, and their spouses. One thing he decided to do more than five years ago was return to his roots – literally and figuratively. He and his wife, Susie, bought a farmhouse and 20 acres on Sandy Ridge. He decided to become a hobby farmer. The couple grows a wide variety of vegetables – squash, cucumbers, peppers, tomatoes, red potatoes and others. They even grow sunflowers. A few years ago they added eight chickens to the farm. The couple, and their three dogs – Daisy, Delta and Ginny – spend hours outside working the ground and tending to the chickens. It’s hard work and Scott said it helps him to stay focused and reconnect with nature. He admitted it’s a bit ironic that his hobby is his family’s legacy trade. But, the other farmers in his family don’t have to worry, he said with a laugh. He has no plans to give up banking to return fulltime to the farm. “I’m not a good farmer,” he said with a laugh. “That’s why I’m a banker.” THE ARKANSAS BANKER

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2022-23 ABA

EXECUTIVE C O M M I T T E E CHAIRMAN RANDY SCOTT

Randy Scott is President and CEO of Farmers Bank and Trust in Blytheville. He has been in banking for 33 years, including the last 22 years with Farmers Bank and Trust. Scott, a Southeast Missouri State University graduate with a major in finance and minor in accounting, is also a graduate of the Graduate School of Banking of the University of Colorado. Randy Scott served as Chairman of the State Bank Board in 2019, where he continues to serve on the board. In addition, he serves on the Board of Trustees at Arkansas Northeastern College, a two-year institution whose main campus is in Blytheville. His previous community involvement includes being a member of the Board of Directors of the Greater Blytheville Area Chamber of Commerce. He served on the Chamber Executive Committee and then as President of the organization. Scott has also served on the Board of Directors of the Blytheville Baseball Boosters Club, on the Board of Directors of the Great River Medical Center, Chairman of the Board of Directors of Great River Economic Development, and President of Blytheville Unlimited.

CHAIRMAN-ELECT JIM TAYLOR

Chairman-Elect Jim Taylor, is Senior Vice President at First Security Bancorp in Rogers. Prior to transitioning to the holding company, Taylor was the Regional President of First Security Bank with management oversight of all operations in Northwest Arkansas, including retail and commercial banking activities at 16 full-service banking centers. He started with First Security Bank in April 1998 as a Loan Production Officer in Fayetteville and oversaw First Security’s expansion into Northwest Arkansas. Taylor attended Arkansas Tech University, where he earned his BS in Agricultural Business. Taylor is Chairman of the Government Relations Advisory Committee for Arkansas Bankers Association, Advisory Board for Arkansas Tech University School of Business, the American Bankers Association Membership Council and Small Loan Committee, Law Enforcement Assistance Program, and serves as General Volunteer Chairman for the LPGA NWA Championship. Jim Taylor and his wife, Felicia, have two daughters, Brittney and Bailey, and two granddaughters, Vivianne and Isla.

VICE CHAIRMAN BRAD CHAMBLESS

Vice Chairman, Brad Chambless serves as Chief Executive Officer and President of Farmers and Merchants Bank and the Bank of Fayetteville. Chambless joined Farmers and Merchants Bank in 2006 where his roles there included Executive Vice President and member of the Board of Directors. He is a graduate of Dumas High School and received his undergraduate degree from the University of Arkansas at Monticello. He went on to earn a law degree from the University of Arkansas at Fayetteville, practicing law in Arkansas for 10 years before entering the banking industry. In addition to overseeing the seven markets where the bank has offices, Chambless is active throughout the regional community as a board director of Acres of Help, Inc., the Arkansas County Imagination Library, the Stuttgart Rotary Club and the Arkansas Bar Association. Chambless also formerly served as a foundation board member for the Phillips County Community College of the University of Arkansas, member of the Arkansas Bankers Association agricultural sub-committee and director and vice chairman of Arkansas Capital Corporation.

TREASURER LORI ROSS

Lori Ross is the Arkadelphia City President of Citizens Bank. She began her banking career as a Commercial Lender for Southern Bancorp. She later went on to work for Summit Bank, which was acquired by Bank OZK. Lori served as Market President there for three years until leaving to join Citizens Bank. Headquartered in Batesville, Arkansas, Citizens opened a new location in Arkadelphia in March of 2016, and hired Ross to establish the new market. Ross is a past Chairperson for the ABA Group 3 and she is a graduate of Leadership Arkansas, Class XII. She is currently serving on the Community Bankers Council for the American Bankers Association. She is a board member for the Economic Development Commission of Clark County, and an active Rotarian and member of the Arkadelphia Noon Rotary Club where she has served as Past President, District Chair of the RYLA Program, and chair of the Foundation Committee. She was named Rotarian of the Year for her volunteer efforts in the Arkadelphia Community. She was also recognized as one of Clark County's 20 Under 40. Lori is a member of the First United Methodist Church in Arkadelphia. She has two sons, Turner and Garrett.

PAST CHAIRMAN JIM CARGILL

Jim Cargill is President and CEO of Arvest Bank in central, southwest, and northeast Arkansas, overseeing Arvest’s retail, consumer, and commercial banking operations. Cargill began his Arvest career in 1985 and is a fourthgeneration banker. Jim attended the University of Arkansas at Fayetteville. He also is a graduate of the American Bankers Association Graduate School of Commercial Lending and of The Professional Masters of Banking Program at The Graduate School of Banking, Louisiana State University. Cargill is a member of the Little Rock Regional Chamber of Commerce Board of Directors Executive Committee and the Fifty for the Future Board of Directors as Treasurer. He will be installed as Chairman in December 2021. He is also a member, and Paul Harris Fellow, of the Little Rock Downtown Rotary Club, the Governor’s Circle, the UAMS Chancellor’s Circle and the LRAFB Community Council. Active in his church, he served as an Elder at Trinity Presbyterian Church of Little Rock.

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2022-23 ABA

BOARD OF D I R E C T O R S GROUP 1

GROUP 2

JOE DUNN

DEREK ECKELHOFF

STONE BANK Little Rock

FIRST SECURITY BANK Rogers

SVP & Sr. Lending Officer

CODY KNIGHT President & CEO

VP/Commercial Lending

ROBERT HUSONG President

PIGGOTT STATE BANK Piggott

FIRST NATIONAL BANK OF NWA Rogers

WILSON MOORE

GARY KLECK

BANK OF AMERICA Little Rock

LEGACY NATIONAL BANK Springdale

ROB S. TIFFEE

LOREN SHACKELFORD

REGIONS BANK- PRIVATE WEALTH MANAGEMENT Little Rock

CHAMBERS BANK Fayetteville

Regional President

Senior Vice President

EVP/Chief Lending Officer

President/ Chief Lending Officer

JAY WISENER

President/Arkansas Region FIRST NATIONAL BANKERS BANK Little Rock

SCOTT WALKER Market President

GROUP 3

FIRST FINANCIAL BANK El Dorado

SCOTT SAFFOLD

JAMIE WALLER

UNION BANK & TRUST CO. Monticello

THE PEOPLES BANK Magnolia

EVP/Chief Lending Officer

President

THE ARKANSAS BANKER

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INDUSTRY U P DAT E S

Importance of

STUDYING INNOVATIONS

in Payment Technologies by Jim Bullard

he Federal Reserve Bank of St. Louis has a long tradition of providing thought leadership in monetar y economics. An important issue in this

area today is the emergence of new payment technologies, given their potential to transform money and the payments system. Therefore, our 2021 annual report examines opportunities and concerns surrounding cryptocurrency, blockchain and decentralized finance. While these payment technologies are new to some, economists at the St. Louis Fed have been studying innovations such as those discussed in this annual report for several years now.

CRYPTOCURRENCIES AND A NON-UNIFORM CURRENCY SYSTEM Cryptocurrencies were introduced to the global economy more than a decade ago, and since then, they have inspired much research and commentary. As a research

economist myself, in addition to my role as a monetary policymaker, I have studied “private money” and have given talks on currency competition. For example, I spoke about “Non-Uniform Currencies and Exchange Rate Chaos” at a May 2018 CoinDesk conference. Currency competition is nothing new. Globally, we have ample currencies issued by government monetary authorities, and these currencies tend to trade at volatile exchange rates. In the current environment, privately issued currencies (such as cryptocurrencies) are also competing with publicly issued currencies. The exchange rates between the public and private currencies tend to be more volatile than the exchange rates between various public currencies. I have argued that cryptocurrencies may be creating a movement toward non-uniform currency in the U.S.—a system that society has disliked historically. In the pre-Civil War era, the majority of the U.S. money supply consisted of privately

issued banknotes.1 Publications listed and frequently updated the going exchange rates for different currencies in particular locations. Similar to today’s global currency system, the pre-Civil War era was characterized by exchange rate chaos, with currencies constantly fluctuating against one another. People didn’t like that system, and a uniform currency was implemented in the U.S. during the Civil War. But cryptocurrencies may unwittingly be pushing us back in the direction of a non-uniform currency system.

SOME POTENTIAL RISKS OF THESE PAYMENT TECHNOLOGIES In theory, the new payment technologies that have emerged in recent years may help reduce costs and improve efficiencies of financial transactions. They may also be used to facilitate financial transactions that could otherwise be difficult. Cryptocurrencies, however, are currently viewed more as a store of value than as a

“While an individual cryptocurrency may have limited supply, the cryptocurrency market overall does not. At least from a monetarist perspective, the question would then become: What is the money stock of the nation?” 28

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medium of exchange. Their volatile prices and exchange rates make them not ideal for payments and can result in large losses for those who view these cryptocurrencies largely as investments. Another well-known concern is that cryptocurrencies are sometimes used for transactions that are illegal. For instance, ransomware attacks typically ask for payment in cryptocurrency. Therefore, much of the impetus behind the technological innovation in payments seems to be coming from illegal sectors. An economist would interpret that as a form of regulatory arbitrage or illegal arbitrage, whereby people are trying to bypass a barrier that exists with ordinary financial channels. In addition, these payment technologies are unregulated by governments—which some view as a benefit. From a policymaker’s perspective, the lack of government regulation and oversight has implications for financial stability of the system overall.

CRYPTOCURRENCY MARKET AND IMPLICATIONS FOR MONETARY POLICY What about implications for monetary policy? Famous 20th-century economist Milton Friedman said that if people are allowed to issue private currency, then a lot of private currencies will be issued. We see that today with the proliferation of cryptocurrencies—free entry has resulted in thousands of them. While an individual cryptocurrency may have limited supply, the cryptocurrency market overall does not. At least from a monetarist perspective, the question would then become: What is the money stock of the nation? This, in turn, would have implications for forecasting what the price level and inflation will be in the future. In light of the cryptocurrency wave, some have called for the creation of a U.S. central bank digital currency (CBDC). In January, the Federal Reserve Board of Governors released a discussion paper on the potential benefits and risks of a U.S. CBDC. This paper “invites comment from the public and is the first step in a discussion of whether and how a CBDC could improve the safe and effective domestic payments system,” as stated in the Board’s press release. Accordingly, the topic is under study, but the Fed is not making any commitments regarding a CBDC at this point.2 More recently, U.S. President Joe Biden signed an executive order in March for various government agencies, including

the Fed, to study digital assets (such as cryptocurrencies) and the potential creation of a U.S. CBDC, as summarized in a fact sheet related to the order.

IMPORTANCE OF CONTINUING TO STUDY PAYMENT TECHNOLOGIES Technology is always changing, and it is very clear that financial intermediation will be different in the future than it is today. But exactly how this technology will be dispersed and how long that process will take remain uncertain. Nevertheless, we at the Federal Reserve have to track developments in this area closely so that we can maintain price stability and financial stability and promote a

strong economy in the U.S. Also, the Fed already is working toward improving the efficiency of the payments system. The Federal Reserve banks have made a lot of great progress on the development of the FedNow Service, which aims to provide real-time payment services to financial institutions 24 hours a day, 365 days a year. Whether the new payment technologies discussed in our 2021 annual report are a genuinely innovative disruption that may prove useful for the nation’s financial system remains to be determined. I hope you will read our annual report and find the main essay “The Blockchain Revolution: Decoding Digital Currencies” informative. (A copy of the essay may be read at www. stlouisfed.org/annual-report/2021/essay)

ABOUT THE AUTHOR James “Jim” Bullard is the president and CEO of the Federal Reserve Bank of St. Louis. In this role, he oversees the activities of the Eighth Federal Reserve District, which includes Arkansas. He also participates on the Federal Open Market Committee, or FOMC, which sets the direction of U.S. monetary policy.

THE ARKANSAS BANKER

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INDUSTRY U P DAT E S

DOWN on the

FARM by Cole Plafcan

griculture in Arkansas is big business! Agriculture

is the state’s largest industry, adding approximately $16 billion to the economy annually. Arkansas produces a wide variety of agricultural products ranging from row crops, livestock, timber and poultry, just to name a few. This output is all produced or raised across approximately 49,000 farms throughout the state. They are located across all areas of Arkansas and 97% of these farms are family-owned. Agriculture in Arkansas and across America is continually challenged on many fronts, and 2022 is no exception. These challenges include increasing input and feed costs, weather events, labor concerns, volatile prices, global trade disruptions, political unrest, lingering supply chain issues and rising interest rates. To weather these 30

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difficulties, today’s farmer and rancher must be continually thinking about his or her strategy to navigate these headwinds. Producers must be more strategic in their short- and long-term planning versus the traditional labor-intensive mindset. Simply working hard is no longer a recipe for success. When I reflect on the farming relationships that have been successful, those farmers have diligently created teams of strategic partners to assist in their overall decision making. These partners, among others, include input and equipment suppliers, consultants, accountants, lawyers, commodity buyers and certainly their lender. Agriculture and agricultural lending are relationship businesses. Being able to leverage these teams, especially when facing the dayto-day challenges of farming and ranching provides confidence in decision making. When all the advisors are working in unison, success is

From a lending perspective, at the beginning of the year estimates for production expenses were forecasted to be up 30% overall from the previous year. Certain line-item expenses have exceeded that estimate.

typically the outcome. However, in today’s volatile environment, making the right decisions is not only challenging but can prove decisive if the wrong choices are made. As the media has reported, the biggest challenge in 2022 is the cost of fuel, fertilizer and feed on the livestock and poultry side. From a lending perspective, at the beginning of the year estimates for production expenses were forecasted to be up 30% overall from the previous year. Certain line-item expenses have exceeded that estimate. These increases have influenced crop mixes with less expensive crops, especially soybeans getting the nod over other higher input cost crops. In addition, the increases will certainly affect year end margins for producers, which causes overall operational stress and anxiety for growers. As of late, there have been some commodity price runs that would prove to be positive offsets, however we are a long way from the finish line. We continue to be in a very uncertain global market where prices have shown to be very fluid. Weather also continues to challenge farmers and ranchers this year. In the Mid-South, producers have experienced, yet again, wet planting conditions this Spring. There have only been short windows of time, typically 2-3 days to work the fields before the next rain. According to the University of Arkansas Crop Progress Report for the week ended May 15th, in Arkansas, we are behind the 5-year planting dates for corn and rice. However, we look to close that gap in the coming days. Recently, in mid-May, temperatures spiked to “July-type” temperatures which will stress the young crop and will jump start our irrigation efforts. My hope is that this is not a harbinger for what our summer has in store for us. From here and throughout the remainder of the crop year, producers will continue to evaluate, manage, and look

for optimum opportunities to market their crops, anxiously awaiting yet another bountiful harvest this Fall. As in most businesses, farmers and ranchers are on the seemingly never-ending journey to find optimum efficiencies in their operations, as well as conserving their resources. From the use of various agriculturally based mobile apps, application of drone technology, an increased use of solar energy, to the introduction of the autonomous tractor, just to name a few, farmers and ranchers continually work to protect their bottom lines to ensure their livelihoods and succession plans. From a service provider standpoint, I have heard it said that “convenience is the future”. I believe that agriculture is not immune to that line of thinking. With all the complexities involved today in modern agriculture, farmers and ranchers will look to those conveniences that in effect make their lives easier. So, providing the best possible services, processes, and technologies to the market will drive success. My passion for agriculture is strong and runs deeply. From my family’s involvement in farming to my career in Ag Lending, I have never been around another group of people that are as genuine, hard-working and determined as farmers and ranchers. So, the next time you go to the grocery store take a minute to reflect on what might have been involved in producing that product. I had a farmer once give me a bumper sticker that I still have in my office today, that reads, “If you eat it, drink it or smoke it…. AGRICULTURE PRODUCED IT.” If you think about it, that is a very prophetic statement and provides us with some perspective. So, the next time you meet or see a farmer or rancher, thank them for what they do.

“If you eat it, drink it or smoke it….AGRICULTURE PRODUCED IT.”

The views and opinions expressed in this article are those of Cole Plafcan and are not endorsed by, and do not necessarily reflect the views of, Simmons Bank. Simmons Bank does not provide tax, accounting or legal advice. Source: Statistics noted in the first paragraph are based on information contained in the following website: Ag Facts | Arkansas Farm Bureau (arfb.com).

ABOUTTHE AUTHOR Cole Plafcan is senior vice president, director of Agricultural Lending, Simmons Bank. Plafcan is charged with expanding Simmons Bank’s agricultural business across its six-state footprint.

THE ARKANSAS BANKER

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Arkansas Lawmakers Making Effort to Lighten

Section 1071 Burdens

ommunity banks face a gauntlet of challenges as inflation continues to rise, supply chain issues continue to burden small business customers and a possible recession looms. New, burdensome

regulations could be added to that list. Two Arkansas lawmakers, U.S. Rep. French Hill and U.S. Sen. John Boozman have joined several other members of Congress to

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introduce legislation that would curtail data collection requirements that can be costly and time consuming for smaller banks. Hill is a former banker who has been involved in federal policy making for the banking industry since the 1980s. Hill, along with U.S. Rep. Rep. Blaine Luetkemeyer, R-St. Elizabeth Mo., and U.S. Rep. Roger Williams, R-Austin, introduced H.R. 6732, the Small LENDER Act, in the U.S. House of Representatives to

protect small banks and lenders from costly and excessive compliance standards earlier this year. H.R. 6732 was introduced as part of a three-bill package from Luetkemeyer and Williams. “Access to capital for small businesses is the lifeblood of our local communities, and smaller lenders often lead the way in investing in the neighborhoods they serve. However, the Consumer Financial Protection Bureau’s (CFPB) proposed regulation would actually hurt small businesses by making the cost of credit more expensive and imposing significant compliance costs that fall disproportionately on smaller companies. That’s why we are proud to introduce this bill to provide regulatory relief to community banks and other small business lenders,” said Hill, Luetkemeyer, and Williams when the legislation was filed. In the Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in 2010, Congress directed the Consumer Financial Protection Bureau (CFPB) to adopt regulations governing the collection of small business lending data, according to CFPB.

are owned by women or minorities, according to the CFPB. The Bureau’s proposal also: • Addresses its approach to privacy interests and the publication of Section 1071 data; • Shields certain demographic data from underwriters and other persons; • Creates recordkeeping requirements and enforcement provisions; and • Sets the proposed rule’s effective and compliance dates. Comments on the proposal closed Jan. 6 and the Bureau’s semiannual regulatory agenda states the next step is to review and consider the comments. In a letter to CFPB Director Rohit Chopra, Reps. Luetkemeyer, Williams and Hill also addressed the rulemaking under Section 1071 of the Dodd-Frank Act and the need for additional public comment. “Since the CFPB issued the proposed rule, we have heard numerous concerns from industry stakeholders, including financial

“Access to capital for small businesses is the lifeblood of our local communities, and smaller lenders often lead the way in investing in the neighborhoods they serve. However, the Consumer Financial Protection Bureau’s (CFPB) proposed regulation would actually hurt small businesses by making the cost of credit more expensive and imposing significant compliance costs that fall disproportionately on smaller companies.”

Section 1071 of the Dodd-Frank Act amended the Equal Credit Opportunity Act (ECOA) to require financial institutions to compile, maintain, and submit to the Bureau certain data on applications for credit for women-owned, minority-owned, and small businesses. Congress enacted Section 1071 for several reasons, according to CFPB. The amendment was added to ensure the enforcement of fair lending laws and enable communities, governmental entities, and creditors to identify business and community development needs and opportunities for women-owned, minority-owned, and small businesses. One issue that is concerning for smaller lenders is that the collections of these records are time consuming and costly for community owned banks that typically have fewer resources to dedicate to this type of activity. CFPB has the ability to “modify” how many and which records are collected, but lawmakers want to take it a step further. In September 2021, the CFPB issued a proposed rule amending Regulation B to implement changes to the ECOA made by Section 1071 of Dodd-Frank. Consistent with Section 1071, the proposal would require covered financial institutions to collect and report to the bureau data on applications for credit for small businesses, including those that

institutions of various sizes and categories, and a wide range of small businesses regarding the specific makeup of the rule,” their letter stated. “In addition, the CFPB received more than 2,000 comment letters in response to the rulemaking highlighting specific issues regarding implementation, over burdensome requirements, privacy concerns, the rulemaking process, and small business access to credit. We urge you to take action to remedy these issues within the final rulemaking.” H.R. 6732 would codify “financial institution” as one that originates at least 500 covered transactions in each of the last two years, as opposed to the 25-transaction threshold proposed in the CFPB’s notice of proposed rulemaking (NPRM). The bill also codifies “small business” as one with gross annual revenues of $1 million or less in the last year instead of $5 million or less as defined in the NPRM. Finally, the bill extends the effective compliance date with the final rule to be three years after publication in the Federal Register plus a two-year grace period, as opposed to the 18-month implementation period in the NPRM. “In the absence of Congress repealing Section 1071 of DoddFrank, our bill makes necessary changes to exempt smaller banks and other lenders from having to comply with the CFPB small business data collection regulation,” added Hill, Luetkemeyer, and Williams. THE ARKANSAS BANKER

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INDUSTRY U P DAT E S

Walking Away

with Papercuts HOW TO DEAL WITH MICROAGGRESSIONS IN THE WORKPLACE by Amy C. Waninger

efore we talk about microaggressions, let’s engage in a thought experiment:

Imagine for a moment that every time you interacted with a particular colleague (we’ll call them Pat), you walked away with a papercut. Every handshake, every meeting, every email or phone call results in a papercut, right in that webbing between your fingers. The first time it happens, you may not realize what happened. The second time, you assume that it was an accident or coincidence. The third time, you decided to speak up. Pat says you’re being too sensitive. Maybe, Pat says, it’s your fault you’re getting papercuts in painful places. The trend continues, ad infinitum. At what point would you begin to avoid Pat? When would you start to limit your interactions to “only when absolutely necessary?” And how long would it be before you decide that it is never, ever absolutely necessary? If this colleague had an open position on their team, would you apply? Even if it were a promotion or your dream job? Would you encourage your friends to apply? Probably not. If Pat were your boss, would you file a formal complaint? Or would you feel silly because it’s “just” a papercut?

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MICROAGGRESSIONS: INTERPERSONAL PAPERCUTS

EXAMPLES OF MICROAGGRESSIONS

Many people work with someone like “Papercut Pat.” Except, for them, the problem comes in the form of Pat’s verbal jabs, rolling eyes, derisive comments, insensitive nicknames, harmful assumptions, intrusive questions, or similar behaviors. Many people are someone’s Papercut Pat and don’t even know it. These behaviors, called microaggressions, are like emotional papercuts that we inflict upon one another, often without realizing it. We say things or make assumptions that are rooted in ignorance or obliviousness, if not outright hostility. But these seemingly small indignities have a big impact over time. I’m sure you’ve heard the phrase “death by a thousand cuts.” Microaggressions can impact your career in negative ways, whether you’re the one inflicting them or the one wincing in emotional pain.

These behaviors come in many forms, and, again, may not be intentional. But just like Pat’s papercuts, they take a toll. • Making fun of — or intentionally mispronouncing — someone’s name • Asking a female colleague who cares for her children when she travels on business • Telling a black person that they are “so articulate” • Asking an Asian-American where they’re “really” from • Asking trans people intrusive questions • Using derogatory terms to describe people who have disabilities • Asking older workers when they plan to retire Someday, I’ll write “The Papercut Chronicles” to share some of my own experiences and transgressions. (In the meantime, I’d love to hear some of your “Did they really just say that?!?” moments.)

ARE YOU A “PAPERCUT PAT”? Ask yourself the following questions, and answer them honestly: 1. In the last six months, have I told someone they’re being “too sensitive” in response to something I said? Have I told anyone I work with that they “can’t take a joke”? 2. Can I remember the last time I made a joke that targeted a particular gender or gender identity, race, ethnicity, sexual orientation, or disability? 3. Have I recently made a generalization, realized I was in “mixed company,” and said, “Oh, I didn’t mean you“? 4. Has anyone asked me to stop making certain types of comments or called me a bully? 5. Do I feel defensive when someone points out my behavior? 6. Do I feel like I am better / smarter / more competent than others and therefore have a right to denigrate them? 7. Do I regularly exclude certain people from discussions so I won’t have to watch what I say? If you answered “Yes” to any of these questions, I suggest you do some soul searching and make some apologies. Ask

someone you trust to watch your behavior and call you out on it if it continues.

DO YOU WORK WITH “PAPERCUT PAT”? When people make honest mistakes because they just don’t realize they’re being disrespectful, give them the benefit of the doubt. Use structured, constructive feedback to explain the impact of their behavior so they don’t repeat the mistake. On the other hand, if Pat’s behavior is intentional, or if it persists after you’ve asked for it to stop, you may need to escalate your complaints to your manager, Pat’s supervisor, or your Human Resources department. Before you escalate, consider the power (and leadership) you can demonstrate by standing

This article was reprinted with permission by the author.

up to workplace bullies, especially when you see them abusing someone else. Let’s all stick together and be strong for one another! Here are some things you can say: • “What you said was disrespectful. I hope you don’t really feel that way.” • “You owe everyone here an apology for making us feel uncomfortable/devalued.” • “I have a tremendous amount of respect for [name of colleague], and I will not let you talk to/about them that way.” • “Your behavior is unacceptable. If you refuse to show everyone the professional respect we deserve, then we will go on without you.” Have you dealt with a Papercut Pat? How did you handle it?

ABOUT THE AUTHOR Amy C. Waninger, CEO of Lead at Any Level LLC, works with organizations that want to build leadership bench strength for a sustainable competitive advantage. This article is adapted from her book, Network Beyond Bias: Making Diversity a Competitive Advantage for Your Career, available online and in print.

THE ARKANSAS BANKER

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THE ARKANSAS BANKER

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INDUSTRY U P DAT E S

Convention A N N UA L

2022

The 2022 Annual Convention was a huge success. Over 340 bankers came together for a great speaker lineup, sold out trade show, and networking! From learning about economics in schools to qualities of a high performing bank and the Annual Day with the Commissioner, this year's Convention sent attendees home with plenty of content for the year. We were even able to celebrate the BKD Milestones in Banking Award recipients during lunch.

PHOTOS: (this page, left to right from top) ABA 2022-23 Executive Committee Jim Cargill, Arvest Bank, Brad Chambless, Farmers & Merchants Bank, Lori Ross, Citizens Bank, Jim Taylor, First Security Bank, and Randy Scott, Farmers Bank & Trust; Jon Harrell, Generations Bank and Loren Shackelford, Chambers Bank; Landi Mkhize, Chambers Bank, Jeff Sabin, Federal Home Loan Bank of Dallas, and Drew Chandler, Farmers Bank & Trust Company; Lori Ross, Citizens Bank, Scott Walker, First Financial Bank; Arkansas Bank Commissioner Susannah Marshall; Jim Taylor and John Adams, First Security Bank

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photography by Michael Pirnique

PHOTOS: (this page, left to right from top) Simmons Bank employees kicked off Day with the Commissioner with their Annual Strawberry Breakfast; Tanner Ballard, Abby Thompson, Reed Middleton, Seth Parsley, and Peyton Tillman, Arkansas State Bank Department; Speaker Scott Anderson, American Bankers Association; Lori Ross, Citizens Bank; Cathy Owen, Eagle Bank, Justin Allen, Wright, Lindsey & Jennings, Lorrie Trogden, Arkansas Bankers Association; Kendal Williams and Dharmin Patel, Arkansas State Bank Department; Jim Cargill, Arvest Bank, pins ABA Chairman Randy Scott THE ARKANSAS BANKER

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PHOTOS: (this page, left to right from top) ABA staff; Jamie Waller, The People's Bank, Camille Turner, Souther Pioneer Insurance, and Brad Chambless, Farmers & Merchants Bank; Jay Wisener, FNBB, Chad May, Armor Bank, and Herbert Thomas, FNBB; Cathy and Jim Cargill, Arvest Bank, Dana and Jeff Lynch, Eagle Bank, Bruce Maloch, Farmers Bank & Trust Company; John Adams, First Security Bank; Kay Bell, Steve Bell, Pat Poole, Jim Poole, Cody Knight, Ronnie Cole, and Jo Cole, Piggot State Bank; Students from Stephens Elementary came with Economics Arkansas; Rich Wolford, American Bankers Association, Jim Taylor, John Rutledge, and Reynie Rutledge, First Security Bank; Scott Saffold, Vicky Ross, Reathel Privett, and Dave Dickson, Union Bank & Trust Company

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The Arkansas Bankers Association is pleased to recognize the people who have – and continue to – serve Arkansas’s banking industry. During the Annual Convention we recognized 25 people who have served their communities and the banking industry for 40-, and 50-years. We also recognized 3 banks who are celebrating 25-, 115-, and 150-year anniversaries this year. Honored for 40 years of service were Sandy Ferguson, Generations Bank; Janette Hayes,

Generations Bank; Carolyn McLemore Pitts, Fidelity Bank; Lori Beck, Petit Jean State Bank; Suzanne Hartman, Petit Jean State Bank; Cheryl Wright, Arvest Bank; Reathel Privett, Union Bank & Trust Company; Joe Grantham, Cross County Bank; Vicki Miller, First Arkansas Bank & Trust; Gaye Wilcox, Arvest Bank; Darla Brown, Citizens Bank & Trust; Teri L. Heaton, Citizens Bank & Trust; Beverly Johnson, Citizens Bank & Trust; Melinda McBride, Citizens Bank & Trust; Pam Jones, Citizens Bank; Mary Cooksey, First Western Bank; Stacy Hardgrave, First National Bank of Fort Smith; Donna Martin, First National Bank of Fort Smith; Kim Snipes, First National Bank of Fort Smith.

Honored for 50 years of service were Mary Blount, Citizens Bank & Trust; Steve Gramling, First Western Bank; Bea Hays, First Arkansas Bank & Trust; Gwen Massingill, Petit Jean State Bank; Charles Penick, Petit Jean State Bank; Larry T. Wilson, First Arkansas Bank & Trust. Additionally, three banks were recognized for celebrating milestones: First National Bank of Fort Smith, 150 years; Farmers Bank & Trust in Magnolia, 115 years; First Community Bank in Batesville, 25 years.

Larry T. Wilson and Bea Hays

Steve Gramling

Janette Hayes and Sandy Ferguson

Charles Penick, Gwen Massingill and Suzanne Hartman

Reathel Privett

Vicki Miller

Gaye Wilcox

Darla Brown

Teri L. Heaton

Melinda McBride

Pam Jones

First National Bank of Fort Smith

Farmers Bank & Trust in Magnolia

First Community Bank in Batesville THE ARKANSAS BANKER

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NEWS & MOVES ASHLEY WISER NAMED

CHIEF OPERATING OFFICER FOR CHAMBERS BANK

C Ashley Wiser

Chief Operating Officer

hambers Bank has announced the promotion of Ashley Wiser as its Chief Operating Officer, a position that oversees the bank’s retail, deposit, and branch operations, as well as quality assurance, business development, treasury management, and operations support services departments. “We are thrilled to add Ashley to our Chambers Bank executive team,” president Mike Donnell said. “Her breadth of experience in retail operations makes her uniquely qualified to serve in this role, and her significant understanding of community banking will help us continue to grow and reach new customers.” In addition to her role at the bank, Wiser gives her time to the Danville community, serving on the city’s Chamber of Commerce board of directors. In 2019, she was named Danville’s Volunteer of the Year. “I am excited to take on the role of Chief Operating Officer,” Wiser said. “We have an extraordinary team here at Chambers Bank, and we will continue to build the strong relationships with our customers that set us apart and ensure a bright future for our bank.”

“HER BREADTH OF EXPERIENCE IN RETAIL OPERATIONS MAKES HER UNIQUELY QUALIFIED TO SERVE IN THIS ROLE, AND HER SIGNIFICANT UNDERSTANDING OF COMMUNITY BANKING WILL HELP US CONTINUE TO GROW AND REACH NEW CUSTOMERS.”

ARVEST BANK PROMOTES ASA COTTRELL

TO LEAD WEALTH MANAGEMENT DIVISION

sa Cottrell, a longtime employee at Arvest Bank, is the new CEO of Arvest Wealth Management (AWM). He will replace Jim King, who announced his retirement earlier this year. Headquartered in Lowell, AWM is the wealth management division that is owned by Walton family-owned Arvest Bank of Fayetteville. Cottrell began the job June 13. A Little Rock native and University of Arkansas graduate, he said the new position will be a homecoming of sorts. Cottrell has worked as a sales manager for Arvest Bank in Little Rock since 2016, following 22 years with AWM. “Asa’s unique range of experience and perspective make him the ideal choice to be the next leader of Arvest Wealth Management,” Arvest Bank president and CEO Kevin Sabin said in a news release. “In addition to his business acumen, Asa’s skills as a relationship-builder and collaborator will help us drive 42

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innovation as we seek new ways to meet our clients’ needs and expectations while continuing to grow.” Cottrell began his career as a client advisor and location manager in Siloam Springs. He later became a regional manager, working with the Little Rock and Fort Smith markets. He has more than 30 years of combined industry experience. “I am both thrilled and humbled to take on this new role,” Cottrell said in a statement. “This is an exciting, transformative time at Arvest Wealth Management and I look forward to helping our associates expand relationships with our current clients and form new relationships, particularly with Arvest Bank customers.” King’s retirement is set for the first quarter of 2023. He joined AWM in 2002 and worked in multiple roles before the company appointed him chief executive in March 2011.

“THIS IS AN EXCITING, TRANSFORMATIVE TIME AT ARVEST WEALTH MANAGEMENT AND I LOOK FORWARD TO HELPING OUR ASSOCIATES EXPAND RELATIONSHIPS WITH OUR CURRENT CLIENTS AND FORM NEW RELATIONSHIPS, PARTICULARLY WITH ARVEST BANK CUSTOMERS.”

SIMMONS BANK PROMOTES

VAN NESS, GEARHART TO DIVISION PRESIDENTS

immons Bank announced the promotions of Charlie Van Ness of Fayetteville and Patrick Gearhart of Wichita, Kan. to division president. Van Ness will oversee the bank’s markets in Northwest Arkansas, Little Rock and Tulsa, Okla. Gearhart will lead markets in Wichita, Kansas City, Mo., and Oklahoma City, Okla. “Pat’s wealth of experience and compassion for his community and team make him a natural fit to serve

Dwayne Dickey

Senior Vice President, Information Technology Director

Jennifer Wyatt

as division president,” Greg Martin, executive vice president of commercial banking, said in a news release. “Charlie’s track record for consistency positions him well to lead our markets to pursue high performance and organic growth. Their expertise will support our ability to drive growth and expand customer relationships throughout the region. We look forward to Pat and Charlie’s leadership in this region.” With 15 years of experience in banking and finance, Van Ness joined Simmons Bank in 2018 and previously worked as the Northwest Arkansas market president. With more than 32 years in banking, Gearhart joined Simmons Bank in 2017. Over the past 12 months, Gearhart has led the Wichita market.

Vice President, Information Security Risk Officer

Alex Kee

Assistant Vice President, Consumer Loan Officer

FIRST COMMUNITY BANK PROMOTES

DICKEY AND WYATT; ADDS KEE IN MOUNTAIN HOME

irst Community Bank promoted two members of its information technology department. Dwayne Dickey has been promoted to senior vice president, information technology director. With nearly 35 years of professional experience in banking and information technology, Dickey has previously served First Community as vice president, information systems manager. Dickey is stepping into the leadership position recently vacated by longtime First Community Bank employee Karl Kemp. Kemp retired in March of this year. Jennifer Wyatt has been promoted to vice president, information security risk officer. Wyatt joined the bank in 2015 and has previously served as information technology administrative assistant and most recently as assistant vice president, information security. She is a United States Air Force veteran and previously worked in military intelligence with a focus on global security and procedure development. First Community Bank also announced the hiring of Alex Kee as assistant vice president, consumer loan officer at the financial institution’s location at 310 Highway 62 East in Mountain Home. In her new position, Kee will grow her loan

and deposit portfolio as well as her customer relationships within the Baxter County region. With 11 years of experience in banking, Kee has previously served as a branch manager and consumer lender. As an active member of the community, she currently serves as a mentor with the Mayfly Project, a non-profit group that uses fly fishing as a catalyst to mentor and support children in foster care. “I’m happy to have Alex join our banking family and see the impact she’ll have on First Community,” said Steve Dunn, community president in the Mountain Home and Harrison regions for First Community Bank. “Her solid background in banking and her commitment to customer service makes her a natural addition to our growing team of lenders.” THE ARKANSAS BANKER

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NEWS & MOVES

Deb Sefcik

Senior Vice President, Commercial Lender

Tyler Choate

Vice President, Commercial Lender

FIRST COMMUNITY BANK ADDS TWO

TO COMMERCIAL LENDING TEAM IN LR

irst Community Bank added Deb Sefcik and Tyler Choate to its commercial lending team. They are currently located at the financial institution’s branch at 4900 Kavanaugh in Little Rock, but will be moving to the new banking center at 17820 Chenal Parkway this summer upon its completion. They will be responsible for producing a variety of commercial loans as well as generating and managing portfolios of business relationships. Sefcik has been hired as senior vice president, commercial lender. She obtained her associates degree in accounting from Capital City Business College, attended Southern Methodist University, and completed a multitude of specialized educational and training courses from the American Institute of Banking. She has been in the banking industry in the Little Rock area for more than 40 years.

Choate has been hired as vice president, commercial lender and has 16 years of experience in banking. He received his Bachelor of Science degree in finance with a concentration in banking from the University of Arkansas. “I am excited to welcome Deb and Tyler as valuable additions to our growing bank family,” said René Julian, community president in Little Rock. “They both bring a wealth of knowledge in commercial lending, and we are fortunate to add their expertise to our experienced team of professional bankers.”

ARKANSAS SECURITIES

COMMISSIONER RESIGNS

ess than two years in the role, Arkansas Securities Commissioner Eric Munson resigned from his post on March 22, 2022. In a letter dated March 22, Munson tenured his resignation to Arkansas Secretary of Commerce Mike Preston. “This letter confirms my resignation as Commissioner of the Arkansas Securities Division so that I may pursue other opportunities. We have agreed that a notice period is not required, therefore my resignation is effective immediately. “I want to thank Governor Hutchinson and you for providing me the opportunity to serve as Securities Commissioner. If there is anything I can do to assist you or the Governor in the future, please do not hesitate to contact me.” Munson was named as the new commissioner of the Arkansas Securities Department, a division of the Department of Commerce, in May 2020. He replaced Edmond Waters, who served as commissioner since February 2015. Munson was formerly an investment banker at Stephens Inc. in their public

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finance department as a financial advisor, underwriter and placement agent for Arkansas municipal bond issues. He also was a financial consultant and registered representative at Smith Barney (now JP Morgan). Munson worked as senior vice president and director of Legislation and Regulation for the Arkansas Bankers Association (ABA) where he oversaw the association’s government relations program. The Arkansas Securities Department is charged with implementing and overseeing the Arkansas Securities Act, Arkansas Fair Mortgage Lending Act, the Arkansas Money Services Act, Arkansas Savings and Loan Act and the Arkansas Credit Union Act.

FIRST SECURITY OPENS SECOND BRANCH

IN FORT SMITH, HAS PLANS FOR A THIRD

earcy-based First Security Bancorp is formally opened its second Fort Smith branch on Thursday (May 19), with preliminary plans to open a third area branch in Chaffee Crossing in 2024. The branch is a full-service location with four employees, according to Zach Ledford, the Fort Smith market leader for the bank. Construction on the bank began in April 2021. The bank first entered the Fort Smith market in

October 2018 with a location at 720 Garrison Ave., in downtown Fort Smith. The branch is in the building that once housed the Fort Smith Town Club, and is also home to the Rialto restaurant. Ledford said the bank now has 13 full-time employees in the region. Ledford, a Fort Smith area native and five-year employee of First Security, said the bank has acquired property in Chaffee Crossing with plans to open a branch there in 2024. The opening could be in early 2024, Ledford said, depending on the construction schedule. First Security has more than 1,000 employees in Arkansas.

EVOLVE BANK & TRUST NAMES TWO

NEW COMMERCIAL LENDERS IN JONESBORO

volve Bank & Trust has appointed John McKeel Vice President, Cash Management Services, Commercial Lending and Jimmy Farley, Vice President, Commercial Lending at its Jonesboro Financial Center. “We are thrilled to welcome John and Jimmy,” said Randy Reynolds, President, Arkansas Banking Division of Evolve. “Their vast experience in business banking is an asset to Evolve and the customers we serve. They are also valued members of the community, which is critical to our mission as a local bank.” This is a return to Evolve for McKeel, who previously served as a credit analyst from 2013 to 2018. He has held similar roles in local banking over the 20 years. “I am excited to be back with the Evolve team,”

said McKeel. “I look forward to continuing to serve the Northeast Arkansas region and help our local businesses flourish. It is an honor to be a part of a bank that is committed to the financial success of the communities it serves.” Farley has more than 15 years of banking experience in the local market. He is very active in his community and volunteers with the NEA Food Bank, United Way, the Chamber of Commerce and Baseball Boosters. “Evolve is one of the most well-respected financial institutions in the Jonesboro area and I couldn’t be prouder to be able to join the team,” said Farley. “The success of the local business community is at the core of Evolve’s mission, and I am committed to carrying out that mission every day.”

ECONOMICS ARKANSAS IS A PRIVATE, NONPROFIT, NON-PARTISAN, EDUCATIONAL ORGANIZATION FOUNDED IN 1962 TO PROMOTE ECONOMIC LITERACY IN ARKANSAS.

MALVERN NATIONAL BANK PROMOTES

KEENEY TO CHIEF CREDIT OFFICER

alvern National Bank has promoted Kyle Keeney, Market President for the bank to Chief Credit Officer. He will replace Rusty Guerra, who recently retired. Keeney has been with MNB for over 20 years as a lender, previously working in public accounting for over nine years.

He is a Henderson State University graduate and a CPA and has always been heavily involved in the community growing up in Malvern working at the family grocery store, Keeney’s Food Market. Keeney will remain at the main bank in downtown Malvern. MNB was established in 1934 and has approximately $640 million in assets with 13 locations in central Arkansas. THE ARKANSAS BANKER

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NEWS & MOVES JON MATTINGLY TO OVERSEE CONSUMER LENDING FOR ARVEST BANK,

TALBERT JOINS MAUMELLE BRANCH

Jon Mattingly

Executive Director of Consumer Lending

rvest Bank announced that Jon Mattingly has been named executive director of consumer lending, effective June 1. Mattingly will lead and direct Arvest’s consumer lending efforts across the bank’s four-state footprint. “We are fortunate to have someone like Jon serve our company and customers as the executive director of consumer lending,” Arvest Chief Customer Experience Officer Rodney Shepard said. “Jon’s education, varied professional experiences and leadership skills are a great fit as we continue to match customer needs and expectations with our products and services.” Mattingly is a Certified Public Accountant and has more than 17 years of experience in the financial services industry. That includes six years at Arvest, where he most recently has served as director of financial planning and analysis. Mattingly earned a bachelor’s degree of business administration in finance and a bachelor’s degree in accountancy from the University of Oklahoma and a master’s degree in risk management from New York University’s Stern School of Business. Arvest Bank also recently announced that Ashley Talbert will join its Maumelle branch as a private banker. Talbert has three years of industry experience and in her new role will be responsible for managing a portfolio of Arvest’s private banking clients and providing personalized strategic financial services to meet their banking needs. Talbert also is a Notary Public.

MATTINGLY IS A CERTIFIED PUBLIC ACCOUNTANT AND HAS MORE THAN 17 YEARS OF EXPERIENCE IN THE FINANCIAL SERVICES INDUSTRY.

Ashley Talbert Private Banker

SCHNEIDER JOINS

FARMERS AND MERCHANTS BANK

F Katie Shay Schneider

Community Development Officer

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SUMMER 2022

armers and Merchants Bank has hired Katie Shay Schneider to the role of Community Development Officer for the Mountain Home market. In her new role, Schneider will build local relationships, work with strategic partners to support the business community and improve quality of life in the North Central Arkansas region while overseeing charitable donations for the bank. “Katie’s energy and enthusiasm are great assets to our community, and we are delighted to have her join our bank family”, stated Mountain Home Market President Sally Gilbert. “Farmers and

Merchants Bank looks forward to continued community outreach and collaboration led by Katie’s ideas and experience.” Schneider is new to the financial services industry, but her professional experience includes fundraising and strategic communications along with volunteer and donor management at entities such as the Food Bank of North Central Arkansas, Operation Food Search in St. Louis and Citadel Broadcasting in Little Rock. Most recently, she served as the Marketing and Operations Director for the Mountain Home Chamber of Commerce.

ARVEST BANK EXECUTIVE GREG STANFILL

RETIRES AFTER THREE DECADES

fter three decades working in various leadership roles with Arvest Bank, executive vice president Greg Stanfill retired from the company on May 2. Stanfill went to work for Arvest in 1992 as a branch manager in Lowell and was later president of the bank’s Lowell market until 2012, when he became executive vice president and community executive for Rogers. He retired as regional director of community banks. During his career, Stanfill also received two gubernatorial appointments to the Arkansas Development Finance Authority board of directors.

Stanfill is a Greenwood native and graduated from the University of Arkansas in 1981. Arvest has promoted Mike Willard to replace Stanfill. He’s worked for the company for nearly 20 years, most recently as president and CEO of the bank’s North Central Arkansas market.

BANK OF AMERICA TO RAISE MINIMUM WAGE

FOR WORKERS TO $22 PER HOUR; HIGHER BY 2025

ank of America announced in late May it would accelerate its previously announced plan to raise the minimum wage for its workers to $22 per hour. The bank behemoth also said it planned to immediately increase its minimum wage to $25 per hour by 2025. Bank of America announced it has accelerated its U.S. minimum hourly wage to $22 as a next step in the company’s plans to increase to $25 by 2025. “Our focus on being a great place to work is core to everything we do and underscores the role our teammates play in our success,” said Sheri Bronstein,

chief human resources officer at Bank of America. “We continue to invest in our teammates and their priorities through competitive pay; industry-leading benefits and resources for physical, emotional and financial wellbeing; long-term career development tools and programs; and in our diversity, equity and inclusion efforts across the company, so that we continue to attract and retain the best talent,” she added. With the increase to $22 per hour, annualized salaries for BoA workers will be more than $45,000. Last year, the company also announced that all of its U.S. vendors are required to pay their employees dedicated to the bank, at or above $15 per hour. In the last five years, Bank of America raised the minimum hourly wage to $15 in 2017 to $21 in October 2021.

ECONOMICS ARKANSAS

ADDS 3 TO BOARD

conomics Arkansas board of directors voted in May to appoint three new members and confirm its new board officers. Those elected will begin their appointments June 1, 2022. The new board members are: • Nakesha Cunningham, Master Economics Teacher, Pulaski County Special School District; • LeAnn Helms, Master Economics Teacher, Manila Public Schools; and • Dr. Brent D. Williams, Associate Dean, UA – Walton College of Business, Fayetteville. Robyn Breshears, executive director of sales,

services & support at Arvest Bank will begin her twoyear term as board chair. Dr. Chris Nail, Beebe School District Superintendent, will start his one-year term as board president. Economics Arkansas is a private, nonprofit, non-partisan, educational organization founded in 1962 to promote economic literacy in Arkansas. Its mission is to equip PreK-12 schools with training and resources to teach economics and personal finance using practical, innovative and inspiring methods so that Arkansas students may become economically and financially literate.

ECONOMICS ARKANSAS IS A PRIVATE, NONPROFIT, NON-PARTISAN, EDUCATIONAL ORGANIZATION FOUNDED IN 1962 TO PROMOTE ECONOMIC LITERACY IN ARKANSAS.

THE ARKANSAS BANKER

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NEWS & MOVES SMILEY TECHNOLOGIES, INC. NAMED

BEST PLACE TO WORK IN FINTECH

or the 2nd year in a row, Smiley Technologies, Inc. has been named one of the Best Places to Work in Financial Technology by American Banker. Smiley provides core and digital banking solutions for community banks across the country. The company is headquartered in Little Rock, Arkansas and was founded in 2002 by President & CEO Elizabeth Glasbrenner and her brother Vance Smiley. The company employs over 60 people with the majority based in Arkansas. “As we continue to grow and add new employees,

we must continue to be intentional on creating a people-first culture,” said Glasbrenner. “We take care of our employees just like our employees take care of our partner banks, creating that great customer support we are known for in the industry!” Smiley has received additional national recognition including Forbes Next 1000 in 2021, Forbes Small Giant Winner in 2020, and Certified Evergreen by TugBoat Institute in 2019, 2020, and 2021. The Company believes its employees who provide service to its banking clients are just as important as its software, and Smiley Technologies invests heavily in both. The people-first culture is something that Glasbrenner strives to achieve every day.

COOPER, HURDMAN NAMED

TO POSTS WITH STONE BANK

S Tom Hurdman SBA Division

tone Bank announced that Tammy Cooper has been named Branch Manager, Vice President, and Loan Officer. She was previously affiliated with Anstaff Bank in Harrison. She is a graduate of Western Grove High School and attended North Arkansas College in Harrison. She has served as Treasurer of Boone County Fair and is currently the Treasurer of the Northwest Arkansas District Fair.

The bank also announced that Tom Hurdman has joined the bank’s SBA Division. He will be headquartered in Jacksonville, Florida. Hurdman is a 33-year veteran of the financial services industry and has worked with Wachovia, Wells Fargo, CIT and most recently with First Internet Bank. Stone Bank is headquartered in Little Rock, Arkansas. It also has locations in Mountain View, White Hall, DeWitt and Gillett.

THE ARKANSAS STATE BANK DEPARTMENT HAS PROMOTED ABIGALE THOMPSON

he Arkansas State Bank Department has promoted Abigale Thompson to Bank Assistant Examiner effective May 29, 2022. Ms. Thompson earned a BS Degree in Finance, with an emphasis in Wealth Man-

Abigale Thompson Bank Assistant Examiner

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SUMMER 2022

agement, from ASU Jonesboro in 2019. She began her employment with the Arkansas State Bank Department on June 1, 2021, and works out of our Jonesboro Regional Office.

LARAY WHITE JOINS FARMERS BANK & TRUST

IN BUSINESS DEVELOPMENT

armers Bank & Trust announced that veteran local financial services advisor and provider LaRay White has joined Farmers Bank as Vice President of Community and Business Development. “Farmers Bank & Trust is truly excited to have LaRay join our bank staff to head up the Community and Business Development efforts our bank makes daily. Our bank has achieved the Community Development Financial Institution (CDFI ) status, and LaRay will be overseeing those duties as well. She has worked tirelessly, locally, and successfully for years, establishing an outstanding reputa-

tion in Blytheville and surrounding areas, as a top notch banking, financial, insurance, and business advisor and provider professional,” said President and CEO Randy Scott. “Joining the Farmers Bank and Trust team is very exciting for me, and my family. Farmers Bank has grown strong for more than a century, by focusing on helping customers with any, and all, of their banking needs. I love doing that too with my continuing dedication to the growth and success of Mississippi county, through Farmers Bank & Trust’s focused Community Development efforts,” White said. White has a Bachelor of Science from the University of Arkansas, Fayetteville, and is a graduate of the Mississippi School of Banking, University of Mississippi. She also serves on the Board of Directors for the Mississippi County Regional Chamber of Commerce, is a member of the Rotary Club, and is a Blytheville Leadership Institute Graduate, among many other areas of community service.

SIGNATURE BANK REVEALS

BILINGUAL BANK BRAND, BANCO SÍ

ignature Bank of Arkansas announced that Banco Sí will be the name for its bilingual bank in downtown Rogers. Banco Sí will be located at 114 S. First St. and joins the Bank of Brinkley as a division of Signature Bank of Arkansas. It’s expected to open this summer. “We put a considerable amount of thought into the branding of this bank,” said Tori Bogner, vice president of marketing. “Ultimately, Sí became the perfect choice, not only because it radiates positivity to a segment of the market who has historically been told ‘no’ where finances are concerned, but also because the first two letters of Signature are Si.” Sí means yes in Spanish. According to a news release, Signature Bank has filed for use of the fictitious name Banco Sí at the 3,966-square-foot location that’s pending approval. The building was built in 1906 and was the location for Rogers’ first financial institution, The Bank of Rogers. The interior space will honor the building’s original mahogany features, marble baseboards and mosaic tile floor.

Bogner said the bank is expected to have 10 employees and is currently hiring for multiple positions. Banco Sí will be the first dedicated bilingual bank in Arkansas, and all staff will be bilingual, speaking English and Spanish, the release shows. The bank will serve Banco Sí and existing Signature Bank customers. Francisco Herrero will be president of Banco Sí. Herrero, whose title will be changed from president for multicultural banking, started in December. A bank advisory board has been established comprising 100% Hispanic members, including area and corporate businesses in Northwest Arkansas. Their input will provide insight to the community as the bank adds staff, products and marketing. The grand opening for Banco Sí is planned for September during Hispanic Heritage Month. Fayetteville-based White River Bancshares Co. is the holding company for Signature Bank. It has locations in Fayetteville, Springdale, Bentonville, Brinkley, Rogers, Harrison and Jonesboro.

“ULTIMATELY, SÍ BECAME THE PERFECT CHOICE, NOT ONLY BECAUSE IT RADIATES POSITIVITY TO A SEGMENT OF THE MARKET WHO HAS HISTORICALLY BEEN TOLD ‘NO’ WHERE FINANCES ARE CONCERNED, BUT ALSO BECAUSE THE FIRST TWO LETTERS OF SIGNATURE ARE SI.”

THE ARKANSAS BANKER

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SUMMER 2022

The Arkansas Banker

Articles inside

Banker News & Moves

2022 Milestones in Banking Awards

2022 Annual Convention Recap

Expand Banking Access with Bank On

Walking Away with Papercuts

Section 107 Burdens: Arkansas Lawmakers try to Lighten the Load

Down on the Farm

Importance of Studying Innovations in Payment Technologies

2022-23 ABA Executive Committee

Farm to Table: Randy Scott's farming roots prepared him to lead the ABA's Executive Roundtable

Leadership in Banking Academy

ESG - Environmental, Social, and Governance Issues

Five Minutes with Landi Mkhize

Emerging Leaders: Before You Can Lead Others, You Must First Lead Yourself

Economics Arkansas Honors Tommy May & ABA

Millennial Minute with Brandi Ray

Washington Update: Rethinking the "Great Resignation"

Professional Development Calendar of Events

Chairman's Column: Level the Playing Field

President's Message