Member News

Cornerstone Bank’s Donation of Parking Lot Raises $42,238 in Community

A total of 40 colleges and universities from 22 states – including Arkansas – have entered the third annual 2017 Community Bank Case Study competition, sponsored by the Conference of State Bank Supervisors (CSBS). Arkansas State University is the only entrant from the state of Arkansas. A team from Arkansas State University was selected among 12 finalists in the 2016 competition. In the nationwide team competition, undergraduate college students-under the advisement of a school faculty member-are required to establish partnerships with local community banks to conduct original case studies. The competition is intended to build a further understanding of the community banking business model and the role community banks play in local communities. The topic of the case study in 2017 is management and board succession. The teams will be responsible for analyzing the financial characteristics and historical trends of their bank and the strengths and weaknesses in the institution’s management succession planning. In addition, they will be expected to identify any correlation between the bank’s performance and its leadership succession preparedness. The students must develop recommendations for the bank to consider in executing a strong succession plan. The faculty adviser for Arkansas State University is David Kern, Ph.D., Associate Professor of Finance, who advised three teams in 2016. Kern’s students will work this year with The Citizens Bank, Batesville. The teams in the competition will be responsible for submitting a paper consisting of up to 25 pages that discusses their case-study findings, and a video that highlights the findings. The deadline to submit the paper and video is April 24, 2017. After the judging period ends May 19, 2017, the first- through third-place teams will be announced on May 25 during the 2017 CSBS State-Federal Supervisory Forum in New Orleans. Students on the first-place team each will receive a scholarship from CSBS of $1,000 and a travel stipend to present their case study at the annual “Community Banking in the 21st Century” research and policy conference at the Federal Reserve Bank of St. Louis. The conference is scheduled to be held October 4-5, 2017. The first through third place teams, and teams that receive honorable mention, will have their case studies published in a journal during the conference. States represented in the 2017 competition are: Alabama; Arkansas; California; Connecticut; Georgia, two schools; Indiana, four schools; Iowa, two schools; Kentucky; Louisiana, three schools; Michigan, two schools; Minnesota, two schools; Mississippi, two schools; Missouri; Montana; North Carolina; Ohio, four schools; Pennsylvania, four schools; South Dakota; Tennessee; Texas, two schools; Virginia, two schools; and Wisconsin. Southeastern Louisiana University, which finished first in the 2016 competition, is one of the three schools in that state that have entered the competition in 2017. More information is available on the Community Bank Case Study Competition website at: www.csbs.org/bankcasestudy. CSBS is the nation’s leading advocate for-and the only national organization dedicated to advancing-the state banking system. Its members include banking regulators from all 50 states and U.S. territories. Arkansas State University Competes in 2017 Community Bank Case Study by Richard S. Plotkin

David Kern, Associate Professor of Finance at Arkansas State University. Charles T. Cross, President and CEO, Cornerstone Bank, recently announced that the local bank’s annual donation of its downtown branch facility’s parking lot to local organizations, civic groups and non-profits raised $42,238.70 in 2016. Cross stated, “We are very pleased that the donation of our bank’s parking lot to 90 different organizations was able to raise this record breaking amount of money in 2016. These dollars support some very worthy causes right here in our hometown and we feel privileged to have the opportunity each year to give back to a community that has continued to make our bank’s exceptional growth and progress possible.” Annually, the bank allows non-profit and civic organizations the opportunity to raise money with parking proceeds at its Historic Downtown Branch Facility. The local bank donates its lot free of charge for any group that meets standard criteria.

Stone Bank Announces White Hall Advisory Board Marnie Oldner, Chief Executive Officer of Stone Bank, announced that the bank has formed an advisory board for its White Hall branch location. “The White Hall advisory board is a who’s who of the area and will help keep the bank connected to the community. We appreciate their willingness to be part of our commitment to the White Hall area.” The board includes: Bill Blankenship, Jr., of Pine Bluff, is a farmer in Jefferson and Lincoln County and serves on the board of directors of the Jefferson County Farm Bureau. George Wesley (Wes) Booker II, of White Hall, is a graduate of White Hall High School and the University of Central Arkansas where he was named an All-American on the 1991 football team. He is the owner of Wes Booker Insurance and a Southeastern Conference football referee. Charles (Trey) Buckner, of White Hall, is the owner of Charles S. Buckner III Real Estate Appraisals and co-owner of the nationalaward winning catering company, Fowl Smokin’ Swine. Buckner is vice president of the Arkansas Wildlife Federation and is the White Hall High School Trap Shooting coach. He is a University of Arkansas graduate. Franklin “Beaver” Johnson, of White Hall, is the owner of Johnson’s Metal Recycler and is the Music Director at White Hall United Methodist Church. He also serves as an alderman for the city of White Hall. Warren Parker, of Dumas, is a graduate of St. Paul’s School in Covington, LA, and the University of Arkansas. He is the sales manager at Dumas Motor Co. Pat Sutliff, of White Hall, is the owner of Sutliff Construction and a graduate of White Hall High School. Stone Bank is headquartered in Mountain View, with offices in White Hall, Harrison, and Little Rock. The bank was originally chartered in Altheimer before moving to Mountain View in 2009. A new community-banking center is under construction in White Hall at 7735 Sheridan Road and scheduled to open in early 2017. The branch is currently located at 7197 Sheridan Road. Kelly Williams is the White Hall Market Manager. Stone Bank’s advisory board for their White Hall branch location. Top (left to right) Bill Blankenship, Pat Sutliff, Wes Booker, and Trey Buckner. Bottom: Warren Parker, Franklin “Beaver” Johnson.

Arvest Bank announced its mortgage division originated more than $1 billion in purchase-money mortgage loans in 2016, the first time it has done so in its history. Arvest announced in September it had originated more than $1 billion in mortgage loans-both purchase-money and refinances -for the 14th consecutive year. Steven Plaisance, president and chief executive officer of Arvest’s mortgage division, said passing the $1 billion mark in purchase-money loans alone is a testament to Arvest’s mortgage lenders and a good indicator of healthy local economies within the bank’s footprint. “We couldn’t have reached this remarkable milestone without the dedication and expertise of all our mortgage lenders, assistants and our operations team,” Plaisance said. “Additionally, low interest rates have helped many people realize the dream of buying their first home, their dream home, or something in between. We’re always happy to help provide the opportunity for people to improve their lives through the purchase of a home.” As of Dec. 28, Arvest had closed a total of 6,170 purchase-money loans with total loan value of $1,001,191,628. In 2015, Arvest Arvest Reaches Mortgage Milestone

closed a total of 5,931 purchase-money loans with total loan value of $941,340,727. “Mortgage interest rates remain one of the best deals going, and thus we are very excited about the 2017 purchase-money market despite the recent rate movement,” Plaisance said. “We urge everyone to keep in mind historical mortgage rates as we move forward.” Arvest is unique among most local lenders in that it services 99 percent of its mortgage loans, meaning that customers make their payments to Arvest and deal with Arvest for any needs after their loan closes. Leading Lender Originates $1 Billion-Plus in Purchase-Money Loans

HARRISON NATIVE JOHNSON JOINS STONE BANK IN HARRISON AS SENIOR LENDING OFFICER

Marnie Oldner, Chief Executive Officer of Stone Bank, announced that Jim Johnson has been named Senior Vice President, Senior Lending Officer at the bank’s Harrison location. “Jim is a life-long Harrison native and understands the needs of the Boone County businesses and families,” said Oldner. We are excited that he’s coming home’ to our new Harrison office to continue serving the community with a home-owned bank.” Johnson had been serving in a similar capacity at the bank’s Mountain View office. He has an extensive financial background including positions at Security Bank in Harrison, American General Finance, Tankinetics/Strand Industries in Harrison, Bank of America and Arvest Bank. He joined Stone Bank in Mountain View in 2013. Johnson, 54, is the son of Winford “Wimp” and Zettie Johnson of Harrison, is a graduate of Harrison High School and the University of Arkansas at Fayetteville with a degree in Banking and Finance. He also attended North Arkansas College on a baseball scholarship. He is married to the former Lisa Paladino and they have 3 children. His community involvement includes: Board of Directors, Harrison Consolidated Youth (Treasurer); Board of Directors, Ozark Arts Council (VicePresident); Board of Directors, Harrison Public School Foundation; Board of Directors, Harrison Area Razorback Club; Vice-President, Harrison High School Friends of the

Choral Arts; Radio Voice of the Harrison High School Goblin football team; Member of the Lendel Thomas Basketball Classic Committee, and the Harrison American Legion Baseball Board of Directors. He is also a 1997 Graduate of the Harrison Chamber of Commerce Leadership Institute The Harrison location of Stone Bank is temporarily housed at 1309 Hwy. 62/65 N with plans to build a communitybanking center at 1302 Hwy. 62/64 N, set to open in late 2017. Dusty Middleton is the Harrison Market Manager.

BUNNELL PROMOTED TO PRESIDENT OF ARVEST EQUIPMENT FINANCE Arvest Bank is pleased to announce that Eric Bunnell has been promoted from senior vice president and sales manager to president of Arvest Equipment Finance (AEF). Bunnell, a Certified Lease & Finance Professional who is a member of the CLFP Board of Directors, has been with Arvest since 2012 and in the commercial lending industry since 2001. He also serves as a member of the National Equipment Finance Association. In his new role, Bunnell will provide leadership and overall day-to-day direction and administration of Arvest’s commercial equipment finance division, among other duties. “Eric’s industry experience and track record here at Arvest made him a natural choice to lead AEF,” said Craig Rivaldo, president and CEO for Arvest Bank in Benton County. “We are excited about what Eric will bring to his new role, and know that AEF is in good hands as that segment of our business continues to grow.” AEF ended 2015 with $187.6

26 The Arkansas Banker | January 2017 million in loans and leases. That was up 28 percent from 2014’s $146.4 million, according to MonitorDaily, a leading publication of the equipment leasing and finance industry. AEF’s loans and leases totaled $223.7 million at the end of October. Bunnell is a native of Trenton, Mo., and earned a bachelor’s degree in agricultural economics at the University of Missouri. Bunnell has been active in numerous community organizations in Greater Kansas City and is relocating to Fort Smith. He and his wife, Kristin, have two daughters.

ARKANSAS STATE BANK DEPARTMENT PROMOTES ANDREW MCCORMICK TO BANK SENIOR EXAMINER The Arkansas State Bank Department has promoted Andrew McCormick to Bank Senior Examiner. McCormick is a commercial examiner assigned to one of two groups based in Little Rock. McCormick was hired by the Bank Department on December 30, 2013. Immediately prior to his hiring, McCormick worked as a credit analyst at River Town Bank in Dardanelle. He also has served as a "universal" banker at U.S. Bancorp in Little Rock - selling bank deposit and loan products and services, referring clients to brokerage products, and originating and closing consumer loans - and as a financial services representative/ teller at Arvest Bank in Little Rock. McCormick received a Bachelor of Business Administration, with an emphasis in personal financial planning, at the University of Central Arkansas in May 2010. A commercial Bank Senior Examiner must demonstrate the

CORNERSTONE HIRES TWO FOR HARRISON ENTRY Charles T. Cross, President & CEO, Cornerstone Bank is pleased to announce the hiring of the bank’s first two staff members for its upcoming entry into the Harrison, Arkansas market. Nate Wilson and Kelly Miller, formerly of Community First Bank, have joined Cornerstone as a lending team in Harrison.

Nate Wilson, who will serve as Senior Vice President/ Loan Officer is a native of Harrison, having graduated from high school there in 1997. He received his college degree from University of Central Arkansas in May, 2001. He has been in banking for the past ten years in both operations and lending capacities. ability to deal with all situations and to conduct an examination without supervision. The institution that the examiner will be expected to evaluate will be more complex than those examined by a Bank Junior Examiner and might present a broad spectrum of problems or challenges. The examiner must have the ability to analyze the institution completely in light of all relevant circumstances, and is expected to manage all aspects of the examination process. This includes performing a pre-examination review to determine the scope of an examination, and preparing agendas for - and conducting meetings with - bank management and the board of directors. Overall, a commercial Bank Senior Examiner must be able to handle a wide variety of problems with very limited supervision. Another responsibility of this examiner is the training of examiners with less tenure.