Why Does the Fed Supervise Small Banks?
2017 VC FinTech Accelerator
The Arkansas
Banker
Volume C, No. 8 | August 2017 August 2017 | The Arkansas Banker
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Introduction to Agricultural Lending 10/2/17 - 12/8/17
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11/13/17 - 12/15/17
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Building Customer Relationships 12/4/17 - 1/5/17
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Analyzing Financial Statements 2/2/18 - 6/1/18
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The TheArkansas ArkansasBanker Banker || August August2017 2017
The Arkansas
Banker Volume C, No. 8 | August 2017
The Arkansas Banker is the official publication of the Arkansas Bankers Association.
CONTENTS
EDITORIAL OFFICE
1220 West Third Street Little Rock, AR 72201 Phone 501.376.3741 | Fax 501.376.9243 www.arkbankers.org
COLUMNS
6
Chairman’s Column
8
Government Relations
DEPARTMENTS
Bill Holmes
Dave Dickson
Ava F. Roberts
24 Member News 26 Banker News & Moves
12 Why Does the Fed Supervise Small Banks
ADVERTISEMENT
The publication of advertisement does not necessarily represent endorsement of those products or services by the Arkansas Bankers Association. The Editor reserves the right to refuse any advertisement.
President’s Column
EDITORIAL
The Arkansas Banker seeks to reflect the banking news of Arkansas and other news of direct interest to the Arkansas Bankers Association. Statement of fact and opinion are made on the responsibility of the authors alone and do not represent the opinion or endorsement of the Arkansas Bankers Association. Articles may be reproduced with written permission only.
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By Julie Stackhouse
13 Familiar Face, New Setting
FEATURES
SUBSCRIPTION
By Claudia Utley
14 2017 Bank Management Seminar Wrap-Up 20 Venture Center Incubates Second Round of Start-ups
Subscription to The Arkansas Banker magazine, which began monthly publication in April 1917, is included in the membership fees to the Arkansas Bankers Association.
MAGAZINE RATES
Cover price is $5.95 each. Annual subscription rates are $40.00 for members and $60.00 for non-members. The Arkansas Banker (ISSN 004-1726) is published monthly by the Arkansas Bankers Association, 1220 West Third Street, Little Rock, AR 72201. Phone: 501.376.3741. Periodical postage paid at Little Rock, AR.
COVER STORY
Annual Washington Visit Travel with the ABA to our nation’s Capitol to tell the stories of how regulation impacts your bank’s customers.
See page 10
POSTMASTER: Send address changes to Arkansas Bankers Association, 1220 West Third Street, Little Rock, AR 72201. August 2017 | The Arkansas Banker
3
PRESIDENT’S COLUMN A Busy Time for Regulators As I told the audience at BMS, it has been a busy eight months in the Government Relations world. For the first time since 2006, the GOP controls the House, Senate and White House. Because of the new administration we were expecting quick reforms to correct the mistakes made in our crisis driven flood of banking regulations. But Washington again has proven the ability to get little to nothing done. We’re advocating for our banks on multiple issues ranging from reg relief, tax reform, arbitration, GSE reform, exam appeals, to the overtime rule. We appreciate everything you do to reinforce our efforts with personal appeals to your lawmakers, letters sent at our request and attendance at the various Town Hall meetings. More than 10,000 bankers have sent emails to senators urging support for reg relief since AmBA launched a grassroots alert in July. Several of our bankers have arranged bank visits with their lawmakers during the August recess. And thank you again to all who participated in our re-formatted Annual Convention in April. There seemed to be wide agreement that we had the right combination of entertainment and education, and many of you who I spoke with appreciated the range of speakers and topics covered. We will be incorporating your feedback to make next year’s Convention at the Robinson Center even better. Washington usually slows down in August when Congress recesses, but that is historically the busiest time for our regulators; and, they have kicked it into high gear. Let me review several of the initiatives. The Fed has just issued a significant proposed change of direction in how they see the role of Directors. It looks like good news. They are wanting Directors to become better bankers, with more understanding of the broad concepts, but less involved in the day-to-day administration of a bank. Look for the other regulators to hopefully follow suit. One of the more significant proposals from the CFPB is the current Request for Information that deals with implementing the requirements of Section 1071 of DoddFrank. That section requires banks to begin collecting data on small business loans like
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The Arkansas Banker | August 2017
you do on consumer and other kinds of loans — especially as requirements relates to HMDA-reporting requirements. We are working on a comment letter, but encourage your bank to submit a comment as well, even if it’s only focused on one of the proposed requirements. In particular, the Bureau wants information about current practices as they relate to small businesses that are minority- or woman-owned. My counterpart in Oklahoma, Roger Beverage, commented after his recent meeting with the CFPB on this issue: “I just don’t think the CFPB understands how small business lending works. I encourage bankers to explain the differences in consumer and residential real estate lending and why these kinds of loans differ from small business commercial lending. This is really an important issue that seems to be flying under the radar right now.”
The House voted to use lawmakers’ Congressional Review Act authority to overturn the CFPB’s controversial final arbitration rule by a party-line vote of 231 to 190. The focus is now on the Senate, where the vote is expected to be closer. AmBA, ICBA and CBA are working closely with the state associations to persuade senators of the need to reverse this rule, which will make resolution of disputes more costly and time consuming for consumers while lining the pockets of trial lawyers. We joined the other state associations in support of S. 1500, a bipartisan bill that would clarify that reciprocal deposits of another insured depository institution are not considered brokered deposits and in so doing would help community banks attract more local deposits. We see this as a necessary modernization of a legal definition of brokered deposits that was enacted before reciprocal deposits were created. Following up on concerns expressed by our bankers about the shortage of qualified appraisers, particularly in rural areas, the federal regulatory agencies issued a proposal to increase the threshold for required appraisals for commercial real
PRESIDENT & CEO BILL HOLMES
estate transactions from $250,000 to $400,000. Congressman Hill is looking at another possible solution for community banks. We will post you when it is finalized. The six most critical players in tax reform — House Speaker Paul Ryan, Senate Majority Leader Mitch McConnell, Treasury Secretary Steven Mnuchin, National Economic Council Director Gary Cohn and the leaders of the two tax-writing committees issued a joint statement recently expressing their commitment to moving forward on a plan this fall. The statement reiterated many of the principles previously expressed by House Republicans and the administration but added that a border adjustability tax is officially off the table. We remain committed to helping policymakers craft a comprehensive plan that spurs economic growth while abiding by our core principles for tax reform. Following years of advocacy on the topic, the FDIC issued revised guidelines to expand banks’ rights to appeal exam decisions and improve consistency with other agencies’ appeal processes. We see these as a positive step forward but continue to support efforts to establish an independent appeals option to financial
ABA STAFF
BILL HOLMES
PRESIDENT/CEO 501.978.3602 | bill.holmes@arkbankers.org
CARLA BRINKLEY
VP/CONTROLLER 501.978.3608 | carla.brinkley@arkbankers.org
AVA F. ROBERTS
VP/DIRECTOR OF GOVERNMENT RELATIONS 501.978.3606 | ava.roberts@arkbankers.org
JESSICA SAHENE
MARKETING COORDINATOR 501.978.3609 | jessica.sahene@arkbankers.org
institutions, along with safeguards to protect against retaliation. Big steps are being made to clean up call reports and to modernize safety & soundness exams, both of which will be helpful to our banks. The Department of Labor issued a request for information on the Obama administration’s final overtime rule. This is the first step to a probable rewrite of the rule, which was supposed to take effect last December but was stalled by a court action pending litigation. We urge you to respond to the RFI by Sept. 25, let them know what the morale was in your banks and what the costs were if you put your prep into play before the rule was put on hold. With the GSEs’ conservatorship now in its ninth year, and with their capital shrinking, banking leaders in Congress and the Treasury secretary agree that GSE reform is needed. While many want to see it happen, the challenge will be getting legislation out of committee and onto the floor in this legislative environment. Thank you for staying attuned to our issues. We appreciate you and everything you do to help our communities thrive and our industry grow.
BARRY JACKSON
SVP/COO 501.978.3613 | barry.jackson@arkbankers.org
KAMI T. COLEMAN
VP/PROFESSIONAL DEVELOPMENT 501.978.3614 | kami.coleman@arkbankers.org
TRACI LOGSDON
DIRECTOR OF COMMUNICATIONS 501.978.3603 | traci.logsdon@arkbankers.org
BRENDA SCARBROUGH
ADMINISTRATIVE ASSISTANT 501.978.3607 | brenda.scarbrough@arkbankers.org
August 2017 | The Arkansas Banker
5
CHAIRMAN’S COLUMN Window of Opportunity for Reform I want to start by thanking the entire ABA staff for the wonderful job they all did on this year’s Bank Management Seminar. It was a fantastic event, from the social events to the outstanding line up of speakers. I know that everyone who attended will share those same sentiments.
As we go forward, a new Mega Conference will be replacing BMS. A lot of work has already been done by our staff, and this new conference will have something for nearly everyone, from emerging leaders to executive management. I am sure that by now everyone has received plenty of information about the Mega Conference. I hope that all ABA member institutions will send not just one, but several staff members to this new event. Moving on to regulatory reform, everyone knows that the House of Representatives passed the CHOICE act in June along party lines. However, as you all know, it is not expected to pass the Senate. Now that the House Financial Services Chairman, Jeb Henserling is allowing the CHOICE act to be broken up, we may see parts of the act getting through Congress. I stress may
ABA EXECUTIVE COMMITTEE
because the clock is ticking on our window of opportunity to pass legislation. The entire House and one third of the Senate will be in full election mode come November. The banking industry is now focusing more and more on the regulatory side for meaningful financial reform. It is my understanding that more than 60% of Dodd Frank can be overturned from the regulatory side. The President has appointed and will appoint financial reform minded candidates for these important chairmanships.
CHAIRMAN DAVE DICKSON
President & CEO Union Bank & Trust Co. Monticello
As banking leaders here at home and across the nation we must continue to lobby our delegations on legislative reforms and regulatory appointments. It is disheartening to all of us every time we watch the news, but we must continue to hope and work towards reforms that will benefit our industry and in turn benefit our customers. I hope everyone had a great summer and looking to a fall full of successes and cheering on your favorite football team.
DAVE DICKSON | CHAIRMAN Union Bank & Trust Co., Monticello
CATHY OWEN | CHAIRMAN-ELECT Eagle Bank, Little Rock
Simmons Bank, El Dorado
JUDY LAWTON | TREASURER
SEAN WILLIAMS | PAST CHAIRMAN
BILL HOLMES | PRESIDENT/CEO
Heartland Bank, Little Rock
First National Bank of Wynne, Wynne
ABA BOARD OF DIRECTORS
JOHNNY ADAMS | GROUP 2
DAVID DOWD | GROUP 1
ROB ROBINSON IV | VICE CHAIRMAN
Arkansas Bankers Association, Little Rock
TOM GRUMBLES | GROUP 2
JERRY MORGAN | GROUP 1
First Security Bank, Conway
Cross County Bank, Wynne
First Service Bank, Greenbrier
Focus Bank, Jonesboro
PHIL BALDWIN | GROUP 2 Citizens Bank, Batesville
TROY DUKE | GROUP 5 Gateway Bank, Rison
SCOTT HANCOCK | GROUP 3 Centennial Bank, Fayetteville
LORI ROSS | GROUP 4 Citizens Bank, Arkadelphia
JEFF BRECKLEIN | GROUP 1
NATHAN GAIRHAN | GROUP 3
DARWIN HENDRIX | GROUP 4
JASON TENNANT | GROUP 3
Integrity First Bank, Jonesboro
United Bank, Springdale
Bank of Delight, Delight
Cornerstone Bank, Eureka Springs
JIM CARGILL | GROUP 2
DON GIBSON | GROUP 3
DAVID JESSUP | GROUP 5
LYNN WRIGHT | GROUP 2
Arvest Bank, Little Rock
Legacy National Bank, Springdale
DeWitt Bank & Trust, DeWitt
GENE CRAWFORD | GROUP 5
CHRIS GOSNELL | GROUP 4
WILSON MOORE | GROUP 2
Citizens Bank, Batesville
6
Farmers Bank & Trust Co., Magnolia
The TheArkansas ArkansasBanker Banker || August August2017 2017
Bank of America, Little Rock
Regions Bank, Little Rock
ABA Live Events ABA Professional Development
Live Events...
Provide you with face-to-face interaction with an expert instructor!
SEPTEMBER 2017 13-14 | Call Report Preparation
Crowne Plaza, Little Rock Who Should Attend: Bank Operations Personnel, and anyone responsible for preparing, auditing, or signing the call report
19
28
| Safe Deposit Box Issues
Arkansas Bankers Association, Little Rock Who Should Attend: Safe Deposit Supervisors, Security & Compliance Officers, and Vault Attendants
| BSA/AML Hot Topics
Holiday Inn Presidential, Little Rock Who Should Attend: Experienced personnel who maintain or audit Bank Secrecy Act or Anti-Money Laundering compliance efforts
OCTOBER 2017 10
11
| Loan Review
Arkansas Bankers Association, Little Rock Who Should Attend: Loan Review Officers, Internal Auditors, Credit Administrators, Loan Officers, and Senior Credit Officers
| Bank Directors Workshop I
Arkansas Bankers Association, Little Rock Who Should Attend: Bank Directors, Executive Management, Senior Bank Officers, and Shareholders
19 | Writing Compliant Real Estate Evaluations Internally
Arkansas Bankers Association, Little Rock Who Should Attend: Appraisal Department, Credit and Loan Officers, Loan Review Officers
23-25 | ABA Mega Conference
Little Rock Marriott, Little Rock Who Should Attend: Emerging Leaders, Ag Lending Personnel, Bank Directors, Marketing Personnel, Security Personnel, Technology Personnel, Trust Officers, and Personal Bankers
17-18 | IRA School
Holiday Inn Presidential, Little Rock Who Should Attend: New Accounts Representatives, CD Personnel, Savings Counselors, Investment and Trust Personnel, and IRA Personnel
NOVEMBER 2017 16
| ELS Day with the Regulators
Federal Reserve, Little Rock Who Should Attend: Bankers interested in building relationships with regulators and learning more about the regulatory process
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| Women in Banking Conference
Holiday Inn Presidential, Little Rock Who Should Attend: Women in banking at all levels who want to increase their effectiveness and success on the job
For more information about ABA Live Events, log on to www.arkbankers.org or call 501.376.3741
August 2017 | The Arkansas Banker
7
GOVERNMENT RELATIONS August Recess: Laying the Groundwork The time for the August congressional recess is here, which means lawmakers will be back home from Washington to hear directly from constituents. For many bankers, this is an opportunity to meet directly with congressmen and discuss needed reforms.
Fostering relationships with our delegation is one of the best efforts a banker can make on behalf of his or her industry. When our delegation has a question about the financial services industry or the impact of banking regulations, they should be comfortable turning to their local community bankers for answers. Meetings such as those during the August recess are a prime opportunity to nurture those friendships and also to demonstrate in local banks the impact federal regulations have on our communities. Let ABA assist you with setting up a meeting with your congressman or senator. Reach out to me at ava.roberts@arkbankers.org or 501-978-3606. I will work directly with the offices in Washington
to set up a meeting time amenable to both you and the legislator. Ideally, these meetings will take place in the bank and you can even give the congressman a tour of your facility. We have talking points available in preparation for these meetings. Once the meeting is set up, you will receive a document with references to pending legislation and room for you to record notes or customer impact stories to share with your congressman. As you are aware by now, customer impact stories are paramount to our effectiveness on Capitol Hill. These stories are used by our delegation during hearings and negotiations to determine which legislation to sponsor, push, and is necessary for federal financial regulatory reform. Grassroots support is the best way to ensure congressional action. Meeting with your congressman or senator in their home turf lays the groundwork for future success back in Washington.
VP / DIRECTOR OF GOVERNMENT RELATIONS AVA ROBERTS
ONGOING THROUGHOUT THE YEAR
About the GSB Online Seminar Series Offering a convenient and cost-effective way to participate in educational opportunities, these programs are designed specifically for financial professionals and delivered by some of today’s top industry experts. The use of state-of-the-art audio and video technology ensures a quality, interactive learning experience. Relevant, bank-specific topics provide a solid educational value for you and your staff.
Educating Professionals, Creating Leaders
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The Arkansas Banker | August 2017
2017
GSB ONLINE SEMINAR SERIES
Registration includes: • One connection into the online seminar presentation—invite others to participate through the same connection at no additional cost • Handouts and other resource material • Unlimited access to the recording of live, online seminar presentations for 90 days after the conclusion of the program • Access to industry experts and nationally known speakers from the convenience of your office
GSB. org
ABA Webinars ABA Professional Development
Webinars...
Provide the option of training as many employees as you wish for one price, all from the convenient location of your home institution! Accounting Basics/ Refresher for Bankers Wednesday, September 6, 2017 10:00 a.m. – 11:30 a.m. Becoming An Employer of Choice Wednesday, September 6, 2017 10:00 a.m. – 11:30 a.m. BSA/AML for Lenders Wednesday, September 6, 2017 10:00 a.m. – 12:00 p.m. Alert! New Currency Transaction Report and Suspicious Activity Report Update Wednesday, September 6, 2017 1:30 p.m. – 3:30 p.m. Core Management Skills Thursday, September 7, 2017 10:00 a.m. – 12:00 p.m. Commercial Loan Agreements and Covenants Thursday, September 7, 2017 1:30 p.m. – 3:30 p.m. Lending To Local Government Units Friday, September 8, 2017 10:00 a.m. – 12:00 p.m. Loan Documentation for “Secured” Commercial Lending Transactions Monday, September 11, 2017 1:30 p.m. – 3:30 p.m. Equipment Finance: Loans & Leases + Capitalization: Part 1 Tuesday, September 12, 2017 8:30 a.m. –10:00 a.m.
Right of Setoff Tuesday, September 12, 2017 10:00 a.m. – 12:00 p.m.
What to Do When A Customer Dies Thursday, September 14, 2017 10:00 a.m. – 12:00 p.m.
Business Cash Flow Basics & Global Cash Flow: Part 1 Tuesday, September 12, 2017 10:30 a.m. –12:00 p.m.
Understanding Real Estate Loan Documents Thursday, September 14, 2017 1:30 p.m. – 3:30 p.m.
Understanding C & I Loan Structuring, Loan Agreements and Covenants: Part 1 Tuesday, September 12, 2017 1:00 p.m. – 2:30 p.m.
Equipment Finance: Loans and Leases + Capitalization: Part 2 Tuesday, September 19, 2017 8:30 a.m. – 10:00 a.m.
Best-Ever Compliance Checklists for Commercial Loans Tuesday, September 12, 2017 1:30 p.m. – 3:30 p.m. How to Craft an Effective Commercial Loan Write-Up Tuesday, September 12, 2017 2:00 p.m. – 3:30 p.m. Financial Statement Projections & Tools: Part 1 Tuesday, September 12, 2017 3:00 p.m. – 4:00 p.m. CRA Nuts & Bolts – Five Steps to Pass the Exam Wednesday, September 13, 2017 10:00 a.m. – 12:00 p.m. Basic Estate Planning and Estate Settlement Wednesday, September 13, 2017 10:00 a.m. – 11:30 a.m. Make Your Bank Less Attractive to Criminals Using CPTED Wednesday, September 13, 2017 1:30 p.m. – 3:30 p.m.
Information Security Basics: Board of Directors Edition Tuesday, September 19, 2017 10:00 a.m. – 12:00 p.m. Business Cash Flow Basics and Global Cash Flow: Part 2 Tuesday, September 19, 2017 10:30 a.m. – 12:00 p.m. Understanding C & I Loan Structuring & More: Part 2 Tuesday, September 19, 2017 1:00 p.m. – 2:30 p.m. Equipment Lease Financing Tuesday, September 19, 2017 1:30 p.m. – 3:30 p.m. Financial Statement Projections & Tools: Part 2 Tuesday, September 19, 2017 3:00 p.m. – 4:00 p.m. Wire Transfer Basics Wednesday, September 20, 2017 10:00 a.m. – 12:00 p.m.
For more information about ABA Webinars, log on to www.arkbankers.org or call 501.376.3741
August 2017 | The Arkansas Banker
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The Arkansas Bankers Association Annual Washington Visit will take place October 3-4, 2017. Each year, a group of Arkansas bankers travels to Washington to attend meetings with the American Bankers Association, federal regulators, and the Arkansas Congressional Delegation. The Annual Washington Visit is one of the most valuable forums that ABA presents, and members are encouraged to participate. The Annual Washington Visit provides bankers the opportunity to share concerns on pending legislation, regulations, and policies, face-to-face with the people responsible for writing them.
This year’s agenda includes briefings from the American Bankers Association, CFPB, SBA, FDIC, and OCC, as well as a visit to the Capitol to meet Arkansas’s Congressional Delegation. Emerging Leaders are strongly encouraged to attend the 2017 Capitol Hill Visit. The benefits of emerging management’s participation in the event is evident. Their networking with the staff of lawmakers and policy writers will reap rewards for years to come. It is inspiring to see these young leaders speak up, ask questions, and supply stories of
“The opportunity to join fellow Arkansas bankers in Washington is one not to be missed,” said ABA Chairman Dave Dickson, Union Bank, Monticello. “From getting updates from AmBA staff, to visiting one-on-one with federal regulators, and sharing customer impact stories with our Congressman and Senators, the benefits of this visit are undeniable.”
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The Arkansas Banker | August 2017
how our customers are affected by federal regulation. The ABA will provide a $500 stipend for up to three emerging leaders who wish to make the trip. Reserve your hotel room by contacting the Mayflower Renaissance Hotel at 202.347.3000, please reference the Arkansas Bankers Association room block. Rooms must be reserved by September 19 to receive the group rate. Contact Ava Roberts at (501) 978-3606 or ava.roberts@arkbankers.org to register and for more information.
Arkansas Congressional Delegation SENATOR
SENATOR
John Boozman
Tom Cotton
Fort Smith (R)
Dardanelle (R)
“
�
There has never been a more critical time for community bankers to get involved in protecting our industry. Without our individual involvement, our industry, communities, and customers we serve will continue to be harmed. Attending the ABA trips in Washington, D.C., is the best way I know for bankers to make a difference in the future of community banking. It is incredibly interesting, informative, and rewarding to interact with your fellow bankers and Arkansas delegation in the political process. - Jeff Lynch Eagle Bank, Little Rock
REPRESENTATIVE
REPRESENTATIVE
REPRESENTATIVE
Rick Crawford
French Hill
Steve Womack
1st District Jonesboro (R)
2nd District Little Rock (R)
3rd District Rogers (R)
REPRESENTATIVE
Bruce Westerman 4th District Hot Springs (R)
August 2017 | The Arkansas Banker
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Why Does the Fed Supervise Small Banks? by Julie Stackhouse Federal Reserve Bank of St. Louis
In the aftermath of the 2008 financial crisis, the Federal Reserve was given substantially more authority to supervise the nation’s largest and systemically important financial institutions. Given that important responsibility, it’s fair to wonder why the Fed supervises smaller banks too. The Fed has been supervising banks of all sizes since its founding in 1913. When the Bank Holding Company Act of 1956 passed, the Fed was also given the task of supervising the nation’s bank holding companies—companies that own or control one or more commercial banks. Today, about 80 percent of the nation’s 6,000 banks are part of a one- or multibank holding company, giving the Fed a window into the economic and financial conditions of much of the country. The regulation of a wide variety of financial firms provides Reserve Bank presidents and the Federal Reserve Board of Governors a holistic view of the trends and issues affecting firms across the country. Issues facing small financial firms can have a material impact on regions of the country, or—in the case of commercial real estate lending prior to the financial crisis—can contribute to the effects of larger systemic trends. Supervision of financial firms of all sizes also assists the Fed in its lender of last resort responsibility. In order to provide liquidity to financial firms in times of stress, the Fed depends on information passed on by its bank supervisors and the continual monitoring of firms of all sizes. The importance of the Fed’s role in supervision was seen in the financial crisis. Although an overheated housing market and accompanying issues in secondary markets are largely blamed for the 2008 financial crisis, problems in commercial real estate (CRE) markets were a contributing factor in the
12
recession and decline in lending that followed. Delinquent CRE loans were concentrated in the nation’s small banks, which had increasingly specialized in such lending. Fed supervisors constantly monitored these smaller institutions and kept monetary policy decision makers apprised. Similarly, having a supervisory relationship with smaller institutions facilitated the underwriting of emergency loans through the Fed’s discount window. There is no question that large banks are important as the “transmission belt” of monetary policy. But the belt runs both ways. Community banks are still the main source of credit for many communities. Interactions between Fed supervisors and these banks provide useful insight on lending and economic conditions.
The Arkansas Banker | August 2017
Fed Bank Supervision, by the Numbers Bank Size
No. of Fed Member Banks
< $100 million in assets
151
$100 million - $1 billion
505
$1 billion - $10 billion
129
> $10 billion
27
Total
812
Holding Companies Supervised by the Fed, by Type Holding Company Type
Number Under Supervision
Bank Holding Companies
3,913
Financial Holding Companies
585
International Holding Companies
19
Savings and Loan Holding Companies
241
Total
4,758
ABOUT THE AUTHOR
Julie Stackhouse is Senior Vice President and Managing Officer of Banking Supervision, Credit, Community Development and Learning Innovation for the Federal Reserve Bank of St. Louis. Prior to joining the St. Louis Fed, Stackhouse was Vice President and Managing Officer of the Risk Management Department of the Federal Reserve Bank of Minneapolis. In addition, she was formerly an officer with the Federal Reserve Bank of Kansas City.
Familiar Face, New Setting by Claudia Utley Economics Arkansas
Many of you have had the pleasure of working with Bob Hamilton of Digital Benefit Advisors. Always cheerful, always knowledgeable and always impeccably suited (seersucker May through September, wool the rest of the year), he jokes that he knows every banker in Arkansas thanks to his long career as a corporate benefits consultant. Now he has a new role. Following his retirement May 31, Bob assumed the volunteer position of interim director of Economics Arkansas, the statewide educational non-profit organization committed to increasing economic and personal finance literacy among Arkansas students. He stepped in after the longtime director left for a leadership position with another non-profit. Meanwhile, a search committee is interviewing candidates for her replacement. “My main job is to get out of the way so that the staff can do their job,” Bob says, and this time, he is not joking. The organization is superbly organized, and the four staff members are carrying on all duties with direction and enthusiasm. Bob first learned about Economics Arkansas during an insurance call about six or seven years ago and then again at an ABA conference. He was hooked on its mission right away. “It’s all about making good choices, understanding that actions have consequences and knowing how to handle money,” he says.
Bob at the 2016 ABA Annual Convention with banker Donnie Castleberry.
Unfortunately, those insights about personal responsibility are lost on too many Arkansans, he believes. His many years of traveling the state and learning about people’s lives led him to that conclusion. “Some of the things people are doing . . . it’s sad,” he says, diplomatically Bob Hamilton welcomes the 200+ guests at the 6th Annual REAL Econ for All Economics and Personal Finance leaving details unspoken. Education Conference for PreK-12 Educators, hosted by
Imagine a world in which all Economics Arkansas, July 19-20, 2017 students learn economics, the to enroll in medical school, she drove him free-enterprise system and personal back and forth to UAMS in Little Rock for finance in schools and thus learn how to his interviews. build better lives for themselves. This was during the Depression Bob is intent on sharing that vision. when resources were scarce and road He joined the Economics Arkansas conditions, dismal. Board of Directors in 2013 and served The orphan boy became a doctor and as board chair in 2016-17. After a new practiced in Little Rock for many decades. executive director has been hired, Bob plans to remain involved as a champion of He and his wife raised two boys, both of economic, entrepreneurship and personal whom earned advanced college degrees and pursued professional careers. Their finance education. He wants to play a grandchildren are on a similar path. key role in connecting local bankers and superintendents to increase the support Thanks to the attention and involvement for teacher participation in Economics of one caring teacher, the little orphan boy Arkansas’s training and programs. Expect beat the odds of poverty and hopelessness. phone calls and visits! He lived the American Dream, as did his children and grandchildren—all thanks to A teacher, as he knows from personal experience, can change a child’s life for the one teacher. better like nobody else. This is the story he tells:
That little boy was Bob Hamilton’s father.
Back in 1918, in the tiny hamlet of Dover, Arkansas (Pope County), a child was born: a boy, the youngest of 12 children. His mother died in childbirth, his father was in jail. He and a brother were taken in by a couple of elderly aunts, the other siblings scattered among distant relatives in Oklahoma and Arkansas. The future looked grim.
All teachers can make a difference in a child’s life, Bob believes, especially those who teach economics and personal finance. Such an education provides students with the insights and understanding of how to thrive in our free-market economy. It teaches how our world works and what it takes to succeed: marketable job and life skills, sound decision-making and money savvy.
But when the boy was in fourth grade, a teacher noticed his keen interest in science. She took him under her wing and nurtured his intellect with extra assignments and special projects. Later, she managed to have him transferred to the bigger and better school district of nearby Russellville. After his high school graduation, she helped him with his college application, and when he decided
He invites all bankers to help bring that education to Arkansas students by supporting teacher training and resources provided by Economics Arkansas. Tax-deductible donations can be made online at www.economicsarkansas. org. For volunteer engagement or other community services, some of which may qualify for CRA credits, call 501-6824230. August 2017 | The Arkansas Banker
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BANK MANAGEMENT SEMINAR The 80th annual Bank Management Seminar was held August 10-12 in Branson, Missouri with nearly 200 bankers and guests in attendance. This family-friendly event combined top-notch speakers with downtime for networking in a more casual setting. Highlighting this year’s agenda was NBA All-Star Mark Eaton, who spoke to the group on the keys to building a successful team. He challenged attendees to better themselves by knowing their jobs, and making others around them look good. The 7’4” former Utah Jazz player stuck around for pictures and to sign autographs. Ethics was also on-topic with speaker Chuck Gallagher, a former CPA who told his personal story about how one bad decision took him down a slippery slope, eventually leading to a stint in federal prison. Chuck’s thought-provoking message centered on the factors that lead to unethical behavior, and how to spot the warning signs. Other featured speakers included Jonathan Hightower, who spoke on how community banks can remain competitive in today’s evolving marketplace; Bob Hamilton, who gave a report from Economics Arkansas on the organization’s ongoing efforts to increase economic education of the state’s youth; and Bruce Johanson, who shared insight on salary and benefit trends across the state. Here’s what attendees had to say about the event: “I enjoyed the team-building concepts offered by Eaton. Also, enjoyed Gallagher’s personal story and how a person in trouble can do things unethical, but rationalize them.” -Chris Lehman, First Delta Bank
Quality event, well organized and professionally presented, one of the very best I have attended. -Robert Taylor, The Citizens Bank
“[This was] my first seminar. Excellent program and venue; both Eaton and Gallagher were more than worth the effort of going!” -Richard Cazzell, OneDigital Health & Benefits
Sean Williams, First National Bank of Wynne, Wynne; Rob Robinson, IV, Simmons Bank, El Dorado; and John Orfanos, First National Bankers Bank, Little Rock.
Brad Chambless, Farmers & Merchants Bank, Stuttgart; and Greg Connell, Farmers & Merchants Bank, Perryville.
Boris Dover, First Community Bank, Batesville; Jay Wisener, First National Bankers Bank, Little Rock; and Bruce Johanson, The Johanson Group, Fayetteville.
PRIZE WINNERS
Kirk Vansandt , Farmers & Merchants Bank, Stuttgart, won a set of tickets to the Razorbacks vs. TCU game. Pictured with sponsor Trey Deupree, Equias Alliance.
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The Arkansas Banker | August 2017
Philip Hensley , Union Bank of Mena, Mena, won a set of tickets to the Razorbacks vs. Ole Miss game. Pictured with sponsor Trey Deupree, Equias Alliance.
Blake Holzhauer, Centennial Bank, Fayetteville, won a set of tickets to the Razorbacks vs. Coastal Carolina game. Pictured with sponsor Trey Deupree, Equias Alliance.
SNAPSHOTS
Thursday evening’s reception was co-hosted by Southern Pioneer Insurance Companies. Representing Southern Pioneer were Ginger Hyneman, Brian Hyneman, Anthony Grant, Ben Hyneman, Janet Hyneman, Jim Bradberry, Mary Jo Bradberry, Billy P. Robinson, and Tim Nickens.
Thursday evening’s reception was co-hosted by First National Bankers Bank. Representing First National Bankers Bank were John Orfanos, Teck Ong, Jay Wisener, Grant Gordy, Sheila Tibbetts, and Wes Womack.
Donny Story, Arvest Bank, Fayetteville, won Friday’s grand prize drawing for an iPad sponsored by Travelers. Pictured with Anita Redd of Travelers.
Click here to see more photos from Bank Management Seminar!
August 2017 | The Arkansas Banker
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(Above) NBA All-Star Mark Eaton speaks to attendees about the keys to being a solid team player. (Right) Stanhope Wilkinson and Elizabeth Wilkinson, Farmers Bank, Greenwood, pose with former Utah Jazz player Mark Eaton, who stands at 7â&#x20AC;&#x2122;4â&#x20AC;?. (Far Right) Chuck Gallagher takes bankers down the slippery slope of making unethical decisions.
PRIZE WINNERS
Landon Taylor, First Western Bank, Rogers, won a set of tickets to the Razorbacks vs. New Mexico State game. Pictured with ABA Chairman-Elect Cathy Owen.
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The Arkansas Banker | August 2017
John Garrison, Relyance Bank, Pine Bluff, won a set of tickets to the Razorbacks vs. Missouri game. Pictured with ABA Chairman-Elect Cathy Owen.
Charlie Holt , Farmers & Merchants Bank, Stuttgart, won a set of tickets to the Razorbacks vs. Auburn. Pictured with ABA Chairman-Elect Cathy Owen.
(Below) John Adams, First Security Bank, Little Rock; Tim Coleman, First Security Bank, Mountain Home, Bill Scholl, First Security Bancorp, Little Rock; and Jim Taylor, First Security Bancorp, Little Rock.
SNAPSHOTS
(Left) Richard Cazzell, OneDigital Health and Benefits, Fort Smith; John Orfanos, First National Bankers Bank, Little Rock; Chris Lehman, First Delta Bank, Marked Tree; Boyd Rothwell, First National Bankers Bank, Little Rock; and Teck Ong, First National Bankers Bank, Little Rock.
Scott Hultburg, Bodcaw Bank, Stamps, won the annual grand prize Fly Away for Two, sponsored by BKD, LLP. Pictured with Ken Rossi of BKD.
August 2017 | The Arkansas Banker
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BMS GOLF CLASSIC
Finishing in first place was the team of Mark Ferguson, Earl R. Whaley & Co., Lonoke; Jeff Lynch, Eagle Bank, Heber Springs; Chris Wewers, Southern Bancorp, Little Rock; Daniel Park, Arkansas State Bank Department, Little Rock, and Nathan Goodnight, CenterState Bank, Dallas. Finishing in second place was the team of Bill Scholl, First Security Bancorp, Little Rock; Barry Jackson, ABA, Little Rock; Charlie Cross, Cornerstone Bank, Eureka Springs; and Chuck Hunt, First Tennessee Bank, Memphis.
Bill Scholl, First Security Bancorp, Little Rock, looks on as Charlie Cross, Cornerstone Bank, Eureka Springs, chips a shot closer to the hole at Buffalo Ridge Golf Course near Branson.
Finishing in third place was the team of Wes Womack, First National Bankers Bank, Little Rock; David Coleman, The Malvern National Bank, Little Rock; Brett Stoots, Horne, LLP, Memphis; and Robert Hopkins, Federal Reserve Bank of St. Louis, Little Rock.
Robert Taylor, Citizens Bank, Batesville, won the “Closest to the Hole” prize, sponsored by Travelers. Barry Jackson presents him with a range finder.
THANK YOU TO OUR BMS SPONSORS
Arkansas Bankers Life
Federal Home Loan Bank of Dallas
SBS CyberSecurity, LLC
First National Bankers Bank
Southern Pioneer Insurance Companies
Networking Refreshments
Golf Tournament Hole Sponsor
The Baker Group
Reception Co-Sponsor
Mobile Charging Stations
BKD, LLP
Fly Away for Two
CNA Insurance
Friday Breakfast
Equias Alliance
Hotel Key Cards Razorback Tickets Mobile App Banner Ad
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Foundation Life Insurance Company of Arkansas Mobile App Banner Ad
Horne, LLP
Golf Tournament Drink Carts
Johanson Group / DB Squared
The Arkansas Banker | August 2017
Saturday Breakfast
Mobile App
Reception Co-Sponsor
Travelers
Grand Prize Giveaway Golf Tournament Closest to the Hole
SNAPSHOTS Randy Jerry and Melissa Jerry, First Financial Bank, El Dorado; and Judy Lawton, Heartland Bank, Little Rock, and Nathan Austin. Adam Chase, Arkansas State Bank Department, Springdale; Tim Nickens, Southern Pioneer Insurance Companies, Jonesboro; Chad Hudson, FNBC Bank, Mountain Home; and Luke Colley, United Bank, Springdale.
Chris Gosnell, Farmers Bank & Trust, Magnolia; David Alexander, Farmers Bank & Trust, Magnolia; John Alexander, Farmers Bank & Trust, Magnolia; and Grant Gordy, First National Bankers Bank, Little Rock.
Brett Stoots, Horne LLP, Memphis, and Barton Hammond, Arkansas State Bank Department, Little Rock.
August 2017 | The Arkansas Banker
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Venture Center Incubates Second Round of Start-Ups For the second year, the Venture Center in downtown Little Rock played host to a cohort of start-up FinTech companies looking to boost their presence in the financial services industry. The VC FinTech Accelerator recently completed its second 12-week program, during which ten start-up companies underwent an intense training and mentorship regiment. The 2017 Accelerator received 295 applications from FinTech startups across the country and around the world. From those applicants, ten companies were chosen to complete the program, with products ranging from gamification of savings to student loan financing programs.
The idea for the Venture Center, and its ability to bring fast-paced technology to central Arkansas, began in 2013 when a group of local business leaders took it upon themselves to create a program that would kick-start the growth of technology-based start-up companies and bring the technical talent in the state to a new level. The Venture Center was launched in May of 2014, and later partnered with FIS Global to develop the VC FinTech Accelerator. Start-up companies selected for the program receive a $50,000 capital investment through FIS. Combined with the program’s curriculum, that investment gives companies a foothold in the financial services marketplace so they can deliver new solutions to banks and other financial institutions. According to Lee Watson, President & CEO of The Venture Center, banks are critical to the success of the VC FinTech Accelerator. “The participating teams need insights from the industry and feedback in order to shape their product development. This ultimately benefits the bank through exposure to industry innovators and an early look at innovation they can both shape and potentially adopt,” he said. More than two dozen banks, both locally and from across the country, engaged with this year’s cohort. Locally, Bear State Bank partnered with the program, and executives from Simmons, Arvest, Centennial, FNBC, and Stone Bank engaged with the start-ups to provide insight into the financial services industry. “One of the great things about our community is we have banks interested in contributing and learning about emerging industry innovation,” said Brian Bauer, Program Manager for the VC FinTech Accelerator. “This is a mutually beneficial process for both our program participants and the banking industry as a whole. A large
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Alpharank helps banks monetize their data using social graphing via an advanced analytics engine.
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The Arkansas Banker | August 2017
part of the innovation we see is aimed at solving problems — such as increasing millennial engagement and other long-term solutions aimed at increasing deposits — and most banks don’t have the time or resources to strategize and develop extensive solutions for those in-house.” Bear State Bank Chief Administrative Officer Shelly Loftin shares that sentiment. “Being able to work with The Venture Center and the FinTech Accelerator provides us insight into how innovative FinTech companies are looking to change financial services and helps us see
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Hedgehog is a crowdsourced solution for the retail investor that helps mitigate or “hedge” investment risk.
Omnetrium enables financial institutions to combine savings and gaming to drive new account growth by leveraging recent regulatory changes.
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Quotanda is a lending-as-a-service platform that enables lenders and schools to launch and manage student financing programs to make education more affordable.
Spencer Crane Co-founder Francois Nabwangu Co-Founder
Rosemary Hackett Founder & CEO
Quotanda
Kathleen Craig Founder & CEO
Grant Taylor Co-founder & CEO Bill Hubor Co-founder Lino Pujol co-founder
August 2017 | The Arkansas Banker
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the possibilities on how their services could help our customers,” she said. “They don’t view the banking space as an entire complicated universe like a lot of bankers do, so they are solving for specific problems in the customer experience, or refining something specific. That focus helps us strategize on how we can improve our infrastructure in a more targeted manner.” Throughout the course of the intense 12-week program, entrepreneurs and Venture Center staff often put in 70+ hour work weeks, including training, meetings, and mentorship sessions — on top of running company operations, product development, and sales. The members of the cohort are dedicated and motivated, and the work environment provided by the Venture Center allows them to build on the successes of their peers and take their own businesses to the next level.
increased opportunity for the entrepreneurs to make and refine pitches, as well as receive valuable feedback. “Leveraging the successes of both the 2016 and 2017 programs, we are continuing to gain a positive reputation as one of the best FinTech accelerator programs in the world,” Bauer said. “We look forward to continuing to develop deeper relationships with banks and other financial institutions so that we may better serve the program as a whole, as well as provide even more valuable content to its participants.” The Venture Center will the application process for the 2018 VC FinTech Accelerator on September 20.
“By selecting companies that don’t necessarily compete against one another, we were able to foster a collaborative environment that helped the teams thrive. Each founder openly shared best practices, tools, ideas, and even their business networks to help each other. All of this added up to improved outcomes, better banking product solutions, and higher company performance,” said Wayne Miller, Managing Director for the VC FinTech Accelerator. With one year of the Accelerator under their belts, the Venture Center staff were able to improve on the program curriculum and processes. Miller noted that an increase in visiting bank executives meant
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Xplanr
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New York, New York xplanranalytics.com
WalletFi reduces customer churn for banks and financial institutions by allowing users to easitly identify and move recurring charges, subscriptions, and card-on-file payments across cards in their digital wallet.
Xplanr Analytics provides computational analytics for IFRS9, CECL, and other regulatory requirements that require advanced predictive modeling.
Alain Glanzman Co-founder & CEO
Alok Tiwar Co-founder & CEO
Marc Miller Co-founder & COO
Sandip Mukherjee Co-founder & COO
The Arkansas Banker | August 2017
S. Ramakrishnan Co-founder & Chairman
The Venture Center 417 Main Street Little Rock, AR 72201 501.404.9875 venturecenter.co Click here to learn more about The Venture Center!
Venture Center Mentorship Opportunities If you’re ready and willing to share your banking expertise and business knowledge with a developing company, the Venture Center wants you! Mentorship is the cornerstone of all Venture Center entrepreneurial programs, giving start-up founders the opportunity to strengthen skills through managed connections to experienced leaders. Mentors take part in a half day training program, followed by 8 shadow sessions with a trained mentor. Once completed, the mentor agrees to provide at least four hours of mentorship per month, which involves conducting initial Huddle Hours and Mentor Sessions related to your area of expertise. The Venture Center Mentor program focuses on four main types of mentors. Executive Leader– The seasoned and successful business leader, whether a CEO, growing startup founder or small business owner, all bring valuable leadership experiences to the entrepreneur. Domain Leader – Skilled professionals who provide guidance regarding a specific subject matter. They provide valuable expertise in areas like: intellectual property development, financial and operational strategy, technology development and sales and presentation skill development. Industry Leader – Recognized industry leaders provide assistance navigating the complexities and connections within areas such as advertising, technology, communications, financial services, government, healthcare and retail. Capital Leader – Raising capital or selling a company is as much an art form as a science. The ability to successfully fund a business is a vital skill for any entrepreneur. Our capital experts provide guidance during this critical period of a company’s development. The Venture Center Mentor Network is comprised of business executives and professionals with specific domain expertise. This is your chance to make and impact. To be a part of something big. You can help us further our mission of creating an engine for economic development in Little Rock and all of Central Arkansas through the establishment of a strong startup community. For more information on mentorship opportunities through the Venture Center, contact Ashley Jones at ashley@venturecenter.co.
+ Top-Notch Trade Show + Industry Speakers = One AWESOME Conference ABA Mega Conference October 23-25, 2017 Little Rock Marriott
Log on to www.arkbankers.org/Mega.aspx for details & registration. August 2017 | The Arkansas Banker
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MEMBER NEWS ARKANSAS BANK DEPARTMENT
APPLICATIONS & APPROVALS
Branch Bank Application An application filed by Bank of the Ozarks, Little Rock, Pulaski County, Arkansas, to establish a branch banking facility at 2821 Fort Worth Avenue, Dallas, Dallas County, Texas, has been approved. July 14, 2017.
Darrin Williams, Southern Bancorp, Inc. CEO; Dr. Karama Neal, Southern Bancorp Community Partners COO; James Owen, Southern Bancorp Policy Fellow; Jennifer Johnson, Southern Bancorp Policy Director; John Olaimey, Southern Bancorp Bank CEO; and Dominik Mjartan, Southern Bancorp Community Partners CEO.
Southern Bancorp Honored with ‘Designation of Savings Excellence’ Southern Bancorp was among the 32 banks and credit unions awarded the 2017 America Saves Designation of Savings Excellence in June. The award is presented annually to financial institutions that make extraordinary efforts to encourage saving during America Saves Week/Military Saves Week and succeeded in encouraging customers and to open and add to wealth-building accounts. “This was our most competitive year so far, with this year’s Designation award winners engaging in creative ways and offering savings incentives,” said Allie Vered, America Saves Director. “We applaud each of this year’s recipients for their efforts to educate and inspire, and most importantly, take action to save money.” Just two in five American households report making good or excellent savings progress. America Saves Week is an annual opportunity for people to assess their savings status and make a plan to start or increase saving, and for organizations like banks or credit unions to support good savings behavior. America Saves Week is coordinated each year by America Saves and the American Savings Education Council.
An application filed by Bank of the Ozarks, Little Rock, Pulaski County, Arkansas, to establish a branch banking facility at the Southwest Corner of Sycamore School Road and Crowley Road, Fort Worth, Tarrant County, Texas, has been approved. July 14, 2017. An application filed by Arvest Bank, Fayetteville, Washington County, Arkansas, to establish a branch banking facility at 2313 South Rouse Street, Pittsburg, Crawford County, Kansas, has been approved. July 24, 2017. An application filed by First Community Bank, Batesville, Independence County, Arkansas, to establish a branch banking facility at 4900 Kavanaugh Boulevard, Little Rock, Pulaski County, Arkansas, has been approved. August 7, 2017. Main Bank Relocation An application by The Citizens Bank, Batesville, Independence County, Arkansas, for the relocation of a main banking facility from 200 South Third Street, Batesville, Independence County, Arkansas, to 655 St. Louis Street, Batesville, Independence County, Arkansas, has been approved. August 7, 2017.
Endorsed Vendor Spotlight: Vizaline, LLC Vizaline LLC, a Mississippi-based company that employs geo-spatial technology to help bankers resolve or head off property boundary issues, is the ABA’s newest endorsed partner. Vizaline has developed visualization tools and products to help those in the industry better understand assets, shield portfolios and protect customers. The company’s Viza-Plat product can be used to determine boundary lines on properties without the need for a more expensive survey. It does not replace a survey in all instances, but can be used when a full survey is not required.
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The Arkansas Banker | August 2017
Among uses for Viza-Plat: For trust department customers wishing to get an accurate view of their real estate holdings; During loan renewals to assure banks their loans have quality legal descriptions To see a visualization of improvements, easements and partial releases. Use of the product is relatively simple: A bank client downloads the legal description of the property to Viza-Plat, where it is read, platted, and the legal
description interpreted. The company places it on geo-spatial imagery and gets back to the bank within 48 hours with an image developed from the information. Bankers will be able to know of encroachments, easements and partial releases before they make a decision on funding a loan. Importantly, if Vizaline discovers a problem with a job description, it advises the bank about a solution. For more information on working with Vizaline, contact Randy Herlocker at 501.681.0935.
BANKER NEWS & MOVES Holding Company of The First National Bank of Wynne to acquire Bank of McCrory First National Corporation, Inc., parent company of The First National Bank of Wynne (FNB), and Bank of McCrory has announced that they have entered into a definitive agreement for First National Corporation, Inc. to acquire 100% of the stock of Bank of McCrory. Applications have been filed and the purchase is contingent on regulatory approval. The anticipated close for this transaction is early fall. Once the transaction closes, Bank of McCrory will be merged into The First National Bank of Wynne. Customers of Bank of McCrory should continue to conduct business as usual, and continue to use their same checks, debit cards, and online banking services until the transaction closes and they are notified. If customers have questions they should contact the Bank of McCrory. Commenting on the acquisition, Sean Williams, President and CEO of First National Corporation, Inc. and The First National Bank of Wynne stated, “We have been positioning FNB to acquire a bank for some time but we wanted the right partner for our market area and our agricultural focus. When the Bank of McCrory became an option we knew it would be a tremendous fit for us. Not only do we have agricultural lending in common, both banks have over a century long history in their communities and have worked tirelessly to support our respective communities. Bank of McCrory is a financially solid community bank, and when combined with our financial strength, we will be in an even better position to expand and meet the growing needs of the communities we serve.” Williams added, “On a more personal note, I know the community of McCrory well and was part of Bank of McCrory for over ten years. I grew up there and it is where my family and I live today. Nothing could make me more proud than to have the Bank of McCrory become a part of our First National Bank family.” Vance Thompson, Vice Chairman, President, CEO and CCO for the Bank of McCrory stated, “I could not ask for a better partner for Bank of McCrory than The First National Bank of Wynne. I see this as a win for both banks. It’s good for The First National Bank, it’s good for the Bank of McCrory, and it’s good for the local community. I look forward to working with Sean and his team to make this a positive experience for our customers and employees.”
Local Bankers Receive Diplomas from Graduate School of Banking at Colorado The Graduate School of Banking at Colorado (GSBC) is pleased to announce the graduation of eight Arkansas banking professionals as a part of the class of 2017. The graduates are pictured from left to right, Front Row: Cody Hollis, First National Bank of Crossett, Crossett; Blake Tarpley, River Town Bank, Dardanelle; Isaac McKinney, Arvest Bank, Siloam Springs; Jeanell Vigna, Twin Lakes Community Bank, Flippin. Back Row: Jason Kincy, Arvest Bank, Lowell; Christopher Jones, First National Bank, Bentonville; Molly Carpenter, FNBC Bank, Ash Flat; Alan Ward, First State Bank, Russellville. GSBC awarded 176 total graduates from across the nation with a diploma in banking during a ceremony on Thursday, July 27 at the Folsom Field Stadium Club on the University of Colorado campus in Boulder, Colo. GSBC is America’s Premier Community Banking School which prepares bank-industry professionals to take on senior management roles within their organizations. Each student has been recognized by his or her bank CEO, president and supervisor as a rising star within their organization. During the 25-month program, which meets two weeks each July for three consecutive years, students are required to complete six intersession research projects, on-campus coursework, exams and a bank management simulation. In addition to academic coursework, students enjoyed networking with others in their region, as well as exploring Boulder throughout their two-week visit. August 2017 | The Arkansas Banker
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BANKER NEWS & MOVES ORLICEK PROMOTED AT SIGNATURE BANK Signature Bank has announced the promotion of Jason Orlicek to Senior Vice President of Lending. Orlicek began working at Signature Bank of Arkansas in 2013 and has over 11 years of banking experience. He is a graduate of Arkansas Tech University, the Arkansas Bankers Association’s Commercial School of Lending and the Graduate Lending Schools at SMU. Orlicek is a member of the Rogers Rotary Club and was a graduate of the Leadership Benton County class of 20132014. In his free time, he enjoys spending time with his family (wife Jessica, sons Kade, Luke and Brooks), golfing and anything Razorbacks.
WISENER PROMOTED TO REGIONAL PRESIDENT First National Bankers Bankshares, Inc. announces promotion of Jay Wisener to President, FNBB Arkansas Region. Wisener assumes the position of President, Arkansas Region on August 1, 2017 following the July 31 retirement of current president Jim Franks. “We are excited to have Jay Wisener serve as president of our Arkansas region. Jay has the leadership qualities and experience to lead our Arkansas office. His understanding of our banker’s bank model and the relationships he has formed with the bankers in Arkansas provides for a smooth management transition for our organization and our customers,” said Joe Quinlan, Chairman of FNBB, Inc.
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Wisener has served as Sr. Vice President, responsible for Lending in the state of Arkansas for the past 5 years. Prior to joining First National Bankers Bank, Wiesner was with Arkansas Capital Corporation Group for seventeen years where he served as Executive Vice President.
Her contagious personality, commitment to her clients and strong community involvement exemplifies Grand Savings Bank’s culture.” said Guy Cable, Grand Savings Bank CEO.
Wisener holds a bachelor’s degree in finance from the University of Arkansas at Fayetteville. In 2000, Jay graduated from the Graduate School of Banking at the University of Colorado. He was also a member of the fifth class of the Executive MBA program and holds a Master’s Degree in Business Administration from the University of Arkansas at Little Rock.
Grand Savings Bank is pleased to announce three new hires to their banking team.
Mr. Franks joined the organization in 2007 as Executive Vice President and Chief Lending Officer. He was elected president of FNBB Arkansas Region on April 1, 2012.
JILL BRIGHT JOINS GRAND SAVINGS BANK Grand Savings Bank is pleased to announce the hiring of Jill Bright as Senior Vice President and Business Development Officer. Bright has been in banking for close to 30 years mostly in retail banking, customer retention and business development. She’s a graduate of Rogers High School and has lived in Northwest Arkansas for 40 years. Bright is a member of the Rogers Rotary Club where she serves on the Board of Directors. She also serves on the Board of Directors for the Rogers-Lowell Chamber of Commerce. “We are excited to have Jill, one of the premier bankers in Benton County, join our team.
The Arkansas Banker | August 2017
GRAND SAVINGS ANNOUNCES NEW HIRES
Kevin Vancuren is the new Vice President/ Loan Officer in our Siloam Springs branch. Vancuren has nearly 20 years of banking experience in Northwest Arkansas in both consumer and commercial loans. He also serves as the activities director for the AWANA children’s ministry at First Baptist Church in Southwest City, MO. Jennifer Adase joins Grand Savings Bank as the Loan Assistant and Special Projects Coordinator in the Bentonville branch. Adase has over 17 years of banking experience in Northwest Arkansas in customer service, bank management and marketing. Andréa Tun is the new Branch Manager in the Gentry branch, she will also handle consumer loans. Tun has over 16 years of banking experience in Northwest Arkansas. She is a graduate of Gentry High School and a former member of the United Way. “We are thrilled to add Kevin, Jennifer and Andréa to our team. They each bring great
experience and enthusiasm for serving customers” said Guy Cable, Grand Savings Bank CEO.
MOUNTAIN VIEW NATIVE AARON SUTTERFIELD JOINS STONE BANK AS LENDING OFFICER Aaron Sutterfield of Mountain View has joined Stone Bank in Mountain View as a Lending Officer. Sutterfield has an extensive financial background including positions at Citizens Bank in Mountain View and Arvest Bank in Greenwood and Russellville. He is a graduate of Mountain View High School and Arkansas Tech University with a degree in finance and economics.
BEN HARGRAVE NAMED CREDIT ANALYST FOR STONE BANK Ben Hargrave has been named a Credit Analyst for Stone Bank in Little Rock. Hargrave will work closely with the bank’s Chief Lending officer and Senior Credit Analyst to break down and study incoming loan requests of all types. Hargrave previously held positions at Bank of the Ozarks and Simmons Bank. He is a graduate of the University of Arkansas at Little Rock with an undergraduate degree in business management.
BANKER NEWS & MOVES CRAWFORD LEADING TRUST DIVISION AT CITIZENS BANK G. Gene Crawford, II has accepted the position of President of the Trust Division of Citizens Bank. Crawford, who has more than 30 years of diverse financial experience, is a familiar name at Citizens Bank, where he served as Vice President and Trust Officer from 1985 to 1994. “Robin Brock and Gene Crawford established the Citizens Bank Trust Department, and initially worked together to provide trust products for bank customers,” said Phil Baldwin, Citizens Bank President and Chief Executive Officer. “Under Robin’s direction, the Trust Department continued its growth, becoming one of the twelve largest Trust Departments in Arkansas. With Robin’s recent retirement, Gene Crawford returns to this important position to help guide our success into the future.” Most recently, Crawford was President and CEO of First National Bank in Crossett, a $150 million bank serving Southeast Arkansas. He is a native of Batesville, a graduate of Lyon College, and furthered his studies in the Masters of Business Administration program at Southern Arkansas University in Magnolia. He is an honor graduate of the National Graduate Trust School at Northwestern University in Chicago, where he received the Certified Financial Services Counselor Designation. He also earned the Certified Employee Benefit Specialist designation from the Wharton School of Business at the University of Pennsylvania.
Crawford’s wife, Terri, and their sons Will and Sam are relocating to Batesville. Terri is a native of Heber Springs and a graduate of Lyon College. Will is enrolled as a junior at Lyon College, and Sam will be entering the eighth grade. Crawford is a proven community leader, including his roles as President of the United Fund of Ashley County, the Hamburg Schools Foundation and South Arkansas Swim Association; and board member of the Southeast Arkansas Concert Association. He is a Rotarian and Paul Harris Fellow. Crawford is an ordained Episcopal Priest and has served as a member of the Executive Council of the Episcopal Diocese of Arkansas.
FARMERS BANK & TRUST ANNOUNCES MAGNOLIA MARKET PRESIDENT CHANGE Farmers Bank & Trust has named Monty Harrington as the new Magnolia Market President. Harrington has been with Farmers Bank & Trust since 2000 and is being promoted from Senior Vice President and Retail Banking Manager. As a lifelong resident of Magnolia, he is actively involved as the community facilitator for Albemarle CAP and frequently volunteers with numerous community organizations including: Magnolia’s Central Baptist Church, Blossom Festival, Housing Authority, and Columbia Christian School. He is a 1993 graduate of Southern Arkansas University, 2006 graduate of Barret School of Banking, 2009 graduate of Southwestern Graduate School of Banking at SMU, and was
named in Arkansas Business’s 40 Under 40 list for 2009. Current Magnolia Market President, Steve Keith, has transitioned to a part time Sales Director role and will remain a member of the Farmers Bank & Trust Board of Directors. Steve has been a pillar of leadership within the south Arkansas community and at Farmers Bank & Trust since 1983. Through his guidance, Farmers Bank & Trust has grown from a $50 million bank to $1.3 billion in assets today. Steve is involved with numerous community organizations, is a member of the Rotary club, serves on the Southern Arkansas University Board, and the South Arkansas Youth Services Board. “Farmers Bank & Trust is very thankful for Steve Keith’s years of service and proud to have him as member of management for many years to come,” said Farmers Bank & Trust Chief Executive Officer, Chris Gosnell. “Steve was instrumental in numerous acquisitions and growth ventures for the Bank as well as large scale community projects for over thirty years. Farmers is fortunate to have Monty Harrington step into the Magnolia Market President role, with extensive banking experience, as we continue to grow for generations to come.”
KENNEDY TO LEAD ARVEST TREASURY MANAGEMENT DIVISION Arvest Bank is pleased to announce it has hired Carolyn Kennedy as Executive Director of its Treasury Management division.
Kennedy has more than 20 years of treasury management experience and is a Certified Treasury Professional®. Most recently, Kennedy served as the leader of Specialized Sales Consulting in Treasury and Payment Solutions for SunTrust Banks Inc. in Atlanta. Her responsibilities included leading a highly successful Treasury Management sales team. She held several other roles during her tenure at SunTrust, including solution line manager for Treasury Management products. Prior to that, Kennedy worked for Wachovia Bank in a number of treasury roles. In her new role at Arvest, Kennedy will manage all aspects of Arvest’s Treasury Management division, including sales, product management and client support. She will be based in Rogers, but will work with local teams throughout Arvest’s four-state footprint. “After an extensive nationwide search for an executive director for our treasury management division, we are thrilled to add Carolyn to the Arvest team,” Arvest regional executive Lisa Ray said. “Her expansive experience will provide Arvest with a TM leader with comprehensive knowledge in all aspects of treasury management technology, product delivery, customer service and sales.” Kennedy earned a bachelor’s degree in economics from Sweet Briar College, and minored in math and political science. She has served on the Georgia ACH Association Board of Directors, and was named Top Treasury & Payment Solutions Premier Performance winner for product management in 2007. Kennedy also has a proven track record as a leader, earning high scores in associate satisfaction surveys in her roles at SunTrust. Kennedy and her husband Burke have three children.
August 2017 | The Arkansas Banker
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The Arkansas Banker | August 2017
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