The Arkansas Banker March 2017

5 Smart Tax Refund Uses

7 Tips to Frustrate a Fraudster

IRS Debunks Refund Myths

The Arkansas

Banker Tax Time 2017:

Tips and Tricks for

Fraud Prevention

Volume CI, No. 3 | March 2017 March 2017 | The Arkansas Banker

1

You better bring your appetite.

It’s time for the 59th Annual Simmons Bank Strawberry Breakfast.

Come enjoy a home-cooked breakfast and all the fresh strawberries you can handle.

Simmons Bank Strawberry Breakfast The Robinson Center, Little Rock | Wednesday, April 12 | 7:30 a.m. – 8:30 a.m. simmonsbank.com

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The Arkansas Banker | March 2017

The Arkansas

Banker Volume CI, No. 3 | March 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

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.

4

President’s Column

6

Chairman’s Column

Sean Williams

8

Washington Update

COLUMNS

Bill Holmes

Rob Nichols

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.

18 Professional Development

DEPARTMENTS

Subscription to The Arkansas Banker magazine, which began monthly publication in April 1917, 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.

20 Banker News & Moves 23 Index of Advertisements

SUBSCRIPTION

MAGAZINE RATES

19 Member News

12 5 Smart Uses for Your Tax Refund

FEATURES

14 7 Tips to Frustrate a Fraudster

During Tax Season 16 IRS Debunks Top 5 Myths

Surrounding Tax Refunds

Internal Revenue Service

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. POSTMASTER: Send address changes to Arkansas Bankers Association, 1220 West Third Street, Little Rock, AR 72201.

March 2017 | The Arkansas Banker

3

PRESIDENT’S COLUMN Albert Rusher Retires after 53 Years of Service Albert Rusher retired in February after 53 years of dedicated service to the Bank of Brinkley, now known as Signature Bank. We at the ABA offer our congratulations to Mr. Rusher and wish him well during his much deserved retirement!

In January 1924, John Gazzola, who had been the largest stockholder in the Bank of Brinkley, sold out his entire holdings to Gus Roescher, a German immigrant, who was in the hotel business in Brinkley. The spelling of the name had been changed to Rusher in 1918. After his father’s death on February 7, 1925, Albert Louis Rusher joined the Board of Directors at the bank and served as president from 1955 until 1969.

His son Albert Holly Rusher began working in the bank in 1964, and was elected to the Board of Directors in1965. On October 14, 1969, A.L Rusher was elevated to a newly-created position by becoming the first Chairman of the Board of Directors where he served for 61 years.

On June 1, 1972, Gus Rusher, the great-grandson of the original Gus Rusher, began work in the bank and became the fourth generation of the Rusher family to be associated with the bank. He was elected to the Board of Directors in 1975.

of the Bank of Brinkley at the time he founded the Fred Rusher Agency in 1920. Fred Rusher died on October 17, 1922, as a young man at the age of 31. The business continued to operate as an independent insurance agency in the old Bank of Brinkley building at the corner of Cypress and New Orleans Street, until 1970 when it relocated to 124 S. Main Street. On July 1, 1985, the bank of Brinkley purchased the agency from the four partners and assumed the ownership and operation of the Fred Rusher Agency, Inc., as a wholly-owned insurance subsidiary. In 2006, White River Bancshares, holding company of Signature Bank, purchased the Bank of Brinkley, which is now known as Signature Bank.

PRESIDENT & CEO BILL HOLMES

The Bank of Brinkley served Brinkley for 103 years since 1903 until its purchase by White River Bancshares in 2006. The Fred Rusher Agency, Inc. served Brinkley for 96 years, since 1920. Both have a long established history and reputation of customer service, community involvement, and fair and honest dealings.

Fred Rusher was born on August 4, 1891. He was the son of Gus Rusher and served as the cashier

Bently Manatt, president of the Bank of Brinkley, presents chairman Albert Rusher with his retirement plaque.

Former ABA Chairman Larry Wilson (left), former ABA Chairman Gus Rusher (middle left) and Chairman and CEO of Signature Bank Gary Head pose with Albert Rusher at his retirement party.

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The Arkansas Banker | March 2017

Albert Rusher (center) celebrates his retirement with his family and friends.

Will Rusher and Albert Rusher pose at the retirement party on February 16, 2017.

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

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

VP/DIRECTOR OF GOVERNMENT RELATIONS 501.978.3606 | ava.roberts@arkbankers.org

DIRECTOR OF COMMUNICATIONS 501.978.3603 | traci.logsdon@arkbankers.org

JESSICA SAHENE

BRENDA SCARBROUGH

MARKETING COORDINATOR 501.978.3609 | jessica.sahene@arkbankers.org

HEATHER HAILE

COMMUNICATIONS INTERN 501.978.3603 | marketing@arkbankers.org

PROFESSIONAL DEVELOPMENT COORDINATOR 501.978.3607 | brenda.scarbrough@arkbankers.org

CAPRECIA HARRIS

OFFICE COORDINATOR 501.376.3741 | caprecia.harris@arkbankers.org March March 2017 2017 | The | The Arkansas Arkansas Banker Banker 5 5

CHAIRMAN’S COLUMN Optimism and a Pro-Business Environment Optimism: a disposition or tendency to look on the more favorable side of events or conditions and to expect the most favorable outcome.

business stance of the Trump administration are certainly fueling the expectation for reform and, with it, optimism.

How long has it been since you peered into the future of our industry with optimism? It’s been too long since I came away from a gathering of bankers believing the overall tone of a meeting was optimistic. But, at the recent National Conference for Community Bankers, where bankers from across the country gathered, the tenor was overwhelmingly and unquestionably positive. The impetus for newfound confidence in our industry’s future is multifaceted, but predominately rooted in anticipation of corporate income tax reform and, then, meaningful and impactful reductions to the regulatory burden that constantly strangles our ability to serve customers and fuel the economic growth so needed in our communities. At this juncture, neither of these reforms is a foregone conclusion, but the recent historical election and pro-

A glance of your newspaper or a couple minutes viewing of any cable news station will prove the environment in Washington DC remains divisive and volatile. But, while change to the DC environment may never be likely, the elections were an unmistakable call for more limited government and less regulation. Whether or not you completely agree with any candidate or political affiliation, the new mandate for less government and regulation across all sectors, coupled with Republican control of the executive and legislative branches, presents a unique opportunity to advance meaningful regulatory relief that will help our industry foster economic and job growth at the local level.

ABA EXECUTIVE COMMITTEE

SEAN WILLIAMS | CHAIRMAN

President & CEO First National Bank of Wynne

Existence of an ounce of optimism and a probusiness environment, while tepid, create an

DAVE DICKSON | CHAIRMAN-ELECT

CATHERINE OWEN | VICE CHAIRMAN

First National Bank of Wynne, Wynne

Union Bank & Trust Co., Monticello

Eagle Bank, Little Rock

JUDY LAWTON | TREASURER Heartland Bank, Little Rock

The Citizens Bank, Rogers

ROBERT Y. TAYLOR | PAST CHAIRMAN

BILL HOLMES | PRESIDENT/CEO Arkansas Bankers Association, Little Rock

ABA BOARD OF DIRECTORS

PAT ANDERSON | GROUP 5

DAVID DOWD | GROUP 1

JON HARRELL | GROUP 3

JERRY MORGAN | GROUP 1

Simmons Bank, Pine Bluff

Cross County Bank, Wynne

Generations Bank, Rogers

Focus Bank, Jonesboro

PHIL BALDWIN | GROUP 2

TROY DUKE | GROUP 5

DARWIN HENDRIX | GROUP 4

RANDY SCOTT | GROUP 1

Citizens Bank, Batesville

Gateway Bank, Rison

Bank of Delight, Delight

Farmers Bank & Trust Co., Blytheville

JIM CARGILL | GROUP 2 Arvest Bank, Little Rock

DON GIBSON | GROUP 3 Legacy National Bank, Springdale

J. MICHAEL JONES | GROUP 5 Merchants & Farmers Bank, Dumas

JIM TAYLOR | GROUP 3 First Security Bancorp, Fayetteville

GENE CRAWFORD | GROUP 5

CHRIS GOSNELL | GROUP 4

CRAIG MOBLEY | GROUP 4

LYNN WRIGHT | GROUP 2

First National Bank of Crossett, Crossett

Farmers Bank & Trust Co., Magnolia

First Financial Bank, El Dorado

SCOTT HANCOCK | GROUP 3

WILSON MOORE | GROUP 2

Centennial Bank, Fayetteville 66

CHAIRMAN SEAN WILLIAMS

The The Arkansas Arkansas Banker Banker || March March 2017 2017 2017

Bank of America, Little Rock

Regions Bank, Little Rock

opportunity that we, for the good of our communities and industry, must fully embrace and share. Our message is a reflection of who we are and what we do, and, it’s a message that resonates when shared with consumers, lawmakers and regulators alike. And it resonates particularly when told from a customer impact perspective. I thank you for your commitment and service to our industry, and I encourage you to remain involved, or, if you’ve not been involved, please join in our efforts to share the message of Arkansas bankers! It’s a message of growing the economy, serving communities, encouraging innovation, and removing the impediments to serving our customers. The contributions across Arkansas of our banks are both tangible and intangible, and the impact we have on the vitality and viability of our communities is powerful. It’s a message worth sharing. We live it each and every day, and the time to share is now!

Convention in Little Rock, April 10th – 12th. The newly renovated Robinson Center is an exceptional venue, and our talented ABA team has worked tirelessly to produce an agenda sure to provide current and relevant information along with plenty of great times with friends from across the state. I appreciate the ABA team’s excellent work in putting together a terrific program, and look forward to seeing you in Little Rock!

Join us for the ABA Annual Convention Haven’t registered for Convention? There’s still time!

Registration is easy!

Just log on to www.arkbankers.org/ Convention.aspx to register online.

Any questions may be directed to Kami Coleman at 501.978.3614 or kami.coleman@arkbankers.org.

I hope you’re making plans to attend the Arkansas Bankers Association Annual

ABA EMERGING LEADERS SECTION COUNCIL

Stone Bank, Little Rock

BLAKE FLETCHER | PRESIDENT

JOHN ANDERSON | VICE PRESIDENT Malvern National Bank, Little Rock

GEORGE PURVIS | SEC./TREAS. Cornerstone Bank, Eureka Springs

EDUARDO ABRIL | GROUP 4 First State Bank of DeQueen, DeQueen

BURT HICKS | GROUP 5 Simmons Bank, Pine Bluff

BEN RIDINGS | GROUP 2 Bank of the Ozarks, Little Rock

Grand Savings Bank, Rogers

NATALIE BARTHOLOMEW | GROUP 3

Evolve Bank, Jonesboro

BLAKE JOHNSON | GROUP 1

RACHEL SCHWARTZ | GROUP 4 Farmers Bank & Trust, Texarkana

JOHN BOLLINGER | GROUP 3

JAMES LYLE | GROUP 5 McGehee Bank, McGehee

SANDY STARNES | GROUP 2 The Citizens Bank, Batesville

Cross County Bank, Wynne

BRANDON GENTRY | GROUP 1

RYAN MOORE | GROUP 1 Centennial Bank, Jonesboro

HUNTER WINDLE | GROUP 4 Malvern National Bank, Malvern

ROBERT HARGIS | GROUP 5 The Citizens Bank, Monticello

HUNTER NORTON | GROUP 3 First Security Bank, Fayetteville

Simmons Bank, Fayetteville

March 2017 Arkansas Banker March 2017| The | The Arkansas Banker

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WASHINGTON UPDATE Getting into Washington’s Business Few would dispute that Washington is very much in the business of banking. But who is in the business of Washington?

According to the Congressional Research Service, the members of the 115th Congress include a record number of women (109), African-Americans (52), Hispanic or Latino members (45), and Asian, Indian or Pacific Island Americans (18).

They also include a fairly typical mix of professions, with a heavy dose of members having previously served in public office, business, law and education. A closer look at previous occupations reveals that our current class of lawmakers includes 36 from the real estate industry, 26 farmers or ranchers, 14 physicians, 11 accountants, nine social workers, eight ordained ministers, seven radio talk show hosts, six software company executives, three venture capitalists, two Peace Corps volunteers and one physicist.

So where do bankers rank? There are currently 18 members who came to Congress with a background in banking. Relative to the other professions noted above, 18 bankers may seem like decent representation. But unlike the other professions, banking is an industry that plays a central role in economic growth and job creation. You have relationships with all these other professions, helping to meet their funding, cash management and payroll needs. You also have relationships with more than 112 million American households. That suggests we need far more bankers to serve in Congress, representing not just our institutions, but also the families, customers and communities that we serve.

Arguably serving in public office is nothing more than a logical next step rather than a giant leap.

The even better news is that ABA has a way to help you take that next step.

This September we are piloting our first ever ABA Candidate School to help bankers—Democrat, Republican or Independent—run for state or federal public office. The nonpartisan school, set for Sept. 13-15, 2017, in Washington, D.C., will provide all the information you need on how to file necessary paperwork, manage paid and earned media, fundraise, research and target, and get out the vote. It will demystify the process.

ROB NICHOLS

President & CEO American Bankers Association

As you may have heard me say when describing ABA’s Power Up initiative, aimed at building our industry’s political capacity, if the past decade has taught us anything, it’s that more bankers need to be involved in the public policy debates surrounding our industry. And those casting votes on banking policy must fully understand and appreciate the impact their decisions will have on a community and its residents.

So if you have ever considered running for office, or if you have been a vocal advocate on state or federal policy issues and are ready to take your political engagement to the next level, I strongly encourage you to apply to this school. Download an application (due June 1) and learn all the details at aba.com/RunforOffice.

Washington has long been in banking’s business.

Now it’s time to put more bankers in the business of Washington. Because when it comes to setting banking and economic policy, nothing beats your real- world experience.

And if that isn’t enough reason, consider that of the 60 men and women who serve on the House Financial Services Committee—one of Congress’ largest committees and the one that sets the agenda and oversight of laws governing banking—only five have banking experience.

That’s absurd.

Now here’s the good news. Bankers are already in the business of serving their communities, not just through their bank, but also on the boards of the local nonprofit, hospital and school system.

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The Arkansas Banker | March 2017

© 2017 American Bankers Association. All rights reserved. Reprinted with permission.

ABA Live Events ABA Professional Development

Live Events...

Provide you with face-to-face interaction with an expert instructor!

APRIL 2017 4

| Loan Assistants & Processors Workshop

19

5

| Asset Based Lending

24-28 | Commercial Lending School

Crowne Plaza, Little Rock Who Should Attend: Loan Assistants & Processors, Credit Administration Supervisors, Loan Support Staff Arkansas Bankers Association, Little Rock Who Should Attend: Commercial Lenders, Credit Analysts, Loan Review Staff Robinson Center, Little Rock Who Should Attend: Everyone

Arkansas Bankers Association, Little Rock Who Should Attend: Lenders, Loan Officers, and Credit Analysts

26-27 | Supervisor Boot Camp

Arkansas Bankers Association, Little Rock

Who should attend: Anyone in the institution with supervisory oversight would benefit from this workshop.

MAY 2017

4

24

| Appraisal Compliance Review

Arkansas Bankers Association, Little Rock Who Should Attend: Appraisal department, Credit & Loan Officers, and Loan Review Officers

25

| Secure Loan Documentation

Arkansas Bankers Association, Little Rock Who Should Attend: Commercial lenders, credit analysts, loan documentation specialists

JUNE 2017

7 | Key Ratio Analysis: Calculating the Numbers Correctly!

| Basic Personal & Business Tax Return Analysis Arkansas Bankers Association, Little Rock Who Should Attend: Commercial lenders, Credit analysts, and consumer lenders.

| Real Estate Loan Documentation

Arkansas Bankers Association, Little Rock Who Should Attend: Commercial lenders, credit analysts, loan documentation specialists, branch managers, private bankers, and business development officers

13-15 | Cyber Security Road Show

Jonesboro, Little Rock, and Fayetteville Who Should Attend: Information Security Officers, Compliance Officers, Information Technology Staff, Directors, Presidents, Vice Presidents, Auditors, and Board of Directors.

Arkansas Bankers Association, Little Rock Who Should Attend: Commercial lenders, Credit analysts, and loan documentation specialists.

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Arkansas Bankers Association, Little Rock Who Should Attend: Bank Directors, Executive Management, Shareholders

Crowne Plaza, Little Rock Who should attend: Bankers with a minimum of one year of experience in commercial lending or credit administration in a bank, or five years of banking experience. Bankers who have successfully completed courses in commercial lending, analyzing financial statements, economics, or equivalent coursework

10-12 | 127th Annual Convention

17-18 | Training the Credit Analyst

| Bank Directors Workshop II

27

| Human Resources Conference

Embassy Suites, Little Rock Who Should Attend: Human Resources Professionals & Consultants, Training Specialists, Human Resources Compliance Officers, Bank Personnel Directors, and Branch Managers.

For more information about ABA Live Events, log on to www.arkbankers.org or call 501.376.3741

March 2017 | The Arkansas Banker

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The Arkansas Banker | March 2017

3/2/17 3:01 PM

AmBA Training ABA Professional Development

AmBA Training...

Provides valuable curriculum in a virtual classroom setting, with the leadership of industry professionals. All assignments and exams are completed online.

Building Customer Relationships 3/27/17 - 4/21/17

Managing the Bank’s Investment Portfolio 3/27/17 - 4/28/17

Analyzing Financial Statements 4/3/17 - 7/21/17

The Banking Industry 4/3/17 - 4/28/17

Bank Lines of Business 4/3/17 - 4/28/17

Building Customer Relationships 4/3/17 - 4/28/17

Managing Interest Rate Risk 4/3/17 - 5/26/17

Fundamentals of Mortgage Lending 4/3/17 - 5/12/17

Consumer Lending 4/10/17 - 7/28/17

CRCM Online Review 4/10/17 - 7/28/17

General Accounting 4/10/17 - 7/28/17

The Banking Industry

Law and Banking: Principles

4/17/17 - 5/12/17

5/8/17 - 8/25/17

Bank Lines of Business

Building Customer Relationships

4/17/17 - 5/12/17

Building Customer Relationships 4/17/17 - 5/12/17

5/30/17 - 6/23/17

The Mortgage Lending Business 5/30/17 - 7/7/17

Basic Administrative Duties of a Trustee

Bank Lines of Business

4/17/17 - 5/19/17

6/5/17 - 6/30/17

Marketing Financial Services

CTFA Online Review Course

4/17/17 - 8/4/17

6/5/17 - 8/25/17

Law and Banking: Applications

General Accounting

4/24/17 - 8/11/17

6/5/17 - 9/22/17

The Banking Industry

Managing, Funding, Liquidity, and Capital

5/1/17 - 5/26/17

6/5/17 - 7/14/17

Bank Lines of Business

The Banking Industry

5/1/17 - 5/26/17

6/12/17 - 7/7/17

General Accounting

Building Customer Relationships

5/1/17 - 8/18/17

Commercial Lending 5/5/17 - 8/4/17

Consumer Lending 5/8/17 - 8/25/17

6/12/17 - 7/7/17

Analyzing Bank Performance 6/19/17 - 8/4/17

Introduction to Trust Products & Services 6/19/17 - 7/21/17

For more information about AmBA Training, log on to www.arkbankers.org or call 501.376.3741

March 2017 | The Arkansas Banker

11

5 Smart Uses for Your Tax Refund According to the Internal Revenue Service, the nation’s taxpayers received an average tax refund of nearly $3,000 in 2015. This year, while more than 70 percent of tax payers await their hefty refund, we have put together five tips to help you make the most out of this year’s tax refund.

1. Save for emergencies!

Open or add to a high-yield savings account that serves as an “emergency fund.” Ideally, it should hold about threeto-six months of living expenses in case of sudden financial hardships like losing your job or having to replace your car.

2. Pay off debt!

Pay down existing balances either by chipping away at loans with the highest interest rates or eliminating smaller debt first.

3. Save for retirement!

Open or increase contributions to a taxdeferred savings plan like a 401(k) or an IRA. Where can you get one? Your bank can help set up an IRA, while a 401(k) is employer-sponsored.

4. Put it toward a down payment!

The biggest challenge that most first-time home buyers face is coming up with enough money for a down payment. If you intend to buy a new home in the near future, putting your tax refund toward the down payment is a smart move.

5. Invest in your current home!

Use your refund to invest in home improvements that will pay you back in the long run by increasing the value of your home. This can include small, costeffective upgrades like energy-efficient appliances that will pay off in both the short and long term. If you have more substantial renovations in mind, your bank can help with a home equity line of credit.

For more tax tips, you can visit our website, www.arkbankers.org and click on Consumer Resources.

Click here to see more tax tips at www.arkbankers.org!

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The Arkansas Banker | March 2017

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!

TUESDAY, APRIL 4 Collateral Evaluation in C&I Lending 9:30 a.m. - 11:00 a.m.

How to Boost Your team’s Prospecting Results 10:00 a.m. - 11:00 a.m.

Advanced Tax Return Analysis 10:00 a.m. - 11:30 a.m.

Limited Liability Companies: Do’s and Don’ts 10:00 a.m. - 12:00 p.m.

Letters of Credit 1:30 p.m. - 3:30 p.m.

How to Build an Employee Referral Program that Works 10:00 a.m. - 11:30 a.m.

FRIDAY, APRIL 7

Reg E Compliance – Five Best Practices for Handling Disputes 10:00 a.m. - 12:00 p.m.

Building a Recognition Program for Success 10:00 a.m. - 11:00 a.m.

Key Ratio Analysis: Calculating and Interpreting the Numbers Correctly!

10:00 a.m. - 12:00 p.m.

Boosting Morale, Service & CrossSelling 1:30 p.m. - 3:30 p.m.

MONDAY, APRIL 10

Safe Deposit Box “Danger Zones” 10:00 a.m. - 12:00 p.m.

Spreadsheet Errors 1:30 p.m. - 3:30 p.m.

TUESDAY, APRIL 11

BSA Series: 10 Examination Hot Spots 1:30 p.m. - 3:30 p.m.

Opening New Accounts 1 –Legal Ownership of Consumer Accounts 1:30 p.m. - 3:30 p.m.

THURSDAY, APRIL 6

Regulation CC – Check Holds 10:00 a.m. - 12:00 p.m.

Flood Insurance Compliance Webinar 10:00 a.m. - 12:00 p.m.

Loan Participations: What You Should Know 1:30 p.m. - 3:30 p.m.

Every Circus Needs a Ringmaster: Directing for Success in Sales 2:00 p.m. - 3:00 p.m.

Wednesday, April 12

Gone But Not Forgotten-Tips for Managing Information Before Employees Become Former 10:00 a.m. - 11:00 a.m.

Excel Explained: Minimize

WEDNESDAY, APRIL 5

Business Cash Flow Basics and Global Cash Flow Integration Issues for Lenders and Analysts 10:30 a.m. - 12:00 p.m.

The Leadership Effectiveness Loop 10:00 a.m. - 11:00 a.m.

Equipment Finance: Loans and Leases, Plus Capitalization 8:30 a.m. - 10:00 a.m.

Financial Statement Projections: Tools for Making a Simplified and Effective Forecast 3:00 p.m. - 4:00 p.m.

Thursday, April 13 Basic Bankruptcy for Bankers 10:00 a.m. - 12:00 p.m.

Eight Strategies for Meaningful Meetings 9:00 a.m. - 10:30 a.m.

Tuesday, April 18 Landscape of Agriculture Today and Tomorrow 10:00 a.m. - 11:30 a.m.

Financial Statement Projections: Tools for Making a Simplified and Effective Forecast 3:00 p.m. - 4:00 p.m.

Equipment Finance: Loans and Leases, Plus Capitalization 8:30 a.m. - 10:00 a.m.

For more information about ABA Webinars, log on to www.arkbankers.org or call 501.376.3741

March 2017 | The Arkansas Banker

13

7 Tips to Frustrate a Fraudster

During Tax Season

“ ”

As Americans begin the process of filing tax returns, identity thieves are scheming to get their hands on that money. Tax identity theft has been the most common form of identity theft reported to the Federal Trade Commission for the past five years. Here are a few tips to help customers prevent tax ID Fraud.

1. File Early.

File your tax return as soon as you’re able giving criminals less time to use your information to file a false return.

2. File on a protected Wi-Fi network.

If you’re using an online service to file your return, be sure you’re connected to a password-protected personal network.

Avoid using public networks like a wi-fi hotspot at a coffee shop.

3. Use a secure mailbox.

If you’re filing by mail, drop your tax return at the post office or an official postal box instead of your mailbox at home. Some criminals look for completed tax return formsin home mailboxes during tax season.

4. Find a tax preparer you trust.

If you’re planning to hire someone to do your taxes, get recommendations and research a tax preparer thoroughly before handing over all of your financial information.

5. Shred what you don’t need.

Once you’ve completed your tax return, shred the sensitive documents that you no longer need and safely file away the ones you do.

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The Arkansas Banker | March 2017

6. Beware of phishing scams by email, text or phone.

Scammers may try to solicit sensitive information by impersonating the IRS. Know that the IRS will not contact you by email, text or social media. If the IRS needs information, they will contact you by mail first.

7. Keep an eye out for missing mail.

Fraudsters look for W-2s, tax refunds or other mail containing your financial information. If you don’t receive your W-2s, and your employer indicates they’ve been mailed, or it looks like it has been previously opened upon delivery, contact the IRS immediately.

If you believe you’re a victim of tax identity theft or if the IRS denies your tax return because one has previously been filed under your name, alert the IRS Identity Protection Specialized Unit at 1-800-908-4490.

“Tax identity theft has been the most common form of identity theft reported to the Federal Trade Commission for the past five years.”

If you believe you’re a victim of tax identity theft, alert the IRS Identity Protection Specialized Unit at 1-800-908-4490.

New challenges for the industry will also present new opportunities for bankers in Arkansas to

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socks

I

Those are some big shoes to fill.

grow their organizations and meet customer needs like never before.

In this climate of change, the ABA is in good hands with incoming chairman Dave Dickson. Join us as we congratulate Dave and say “thank you” to outgoing chairman Sean Williams for his leadership and energy in driving the ABA forward.

Together, we’re looking forward to what’s ahead.

April 11 • Robinson Center, Little Rock PROUDLY SPONSORED BY

guided by principles

Sean Williams President and CEO, First National Bank of Wynne

Dave Dickson President and CEO, Union Bank & Trust Company

501.374.2600 ddfconsulting.com

March 2017 | The Arkansas Banker

15

IRS Debunks Top 5 Myths

Surrounding Tax Refunds During the early parts of the tax season, taxpayers are anxious to get details about their refunds and often turn to social media.

This can lead to misunderstandings and speculation about refunds. This tax season, the Internal Revenue Service is offering taxpayers some basic tips to keep in mind about refunds.

Myth 1: All Refunds Are Delayed While the IRS issues more than 90 percent of federal tax refunds in less than 21 days, some refunds take longer.

Recent legislation requires the IRS to hold refunds for tax returns claiming the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC) until mid-February. Other returns may require additional review for a variety of reasons and take longer. For example, the IRS, along with its partners in the states and the nation’s tax industry, continue to strengthen security reviews to help protect against identity theft and refund fraud. The IRS encourages taxpayers to file as they normally would.

Myth 2: Calling the IRS or My Tax Professional Will Provide a Better Refund Date Many people mistakenly think that talking to the IRS or calling their tax professional is the best way to find out when they will get their refund.

In reality, the best way to check the status of a refund is online through the “Where’s My Refund?” tool at IRS.gov or via the IRS2Go mobile app.

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The Arkansas Banker | March 2017

Taxpayers eager to know when their refund will be arriving should use the “Where’s My Refund?” tool rather than calling and waiting on hold or ordering a tax transcript. The IRS updates the status of refunds once a day, usually overnight, so checking more than once a day will not produce new information. “Where’s My Refund?” has the same information available to IRS telephone assistors so there is no need to call unless requested to do so by the refund tool.

Myth 3: Ordering a Tax Transcript a “Secret Way” to Get a Refund Date Ordering a tax transcript will not help taxpayers find out when they will get their refund. The IRS notes that the information on a transcript does not necessarily reflect the amount or timing of a refund. While taxpayers can use a transcript to validate past income and tax filing status for mortgage, student and small business loan applications and to help with tax preparation, they should use “Where’s My Refund?” to check the status of their refund.

Myth 4: “Where’s My Refund?”

Must be Wrong Because There’s No Deposit Date Yet The IRS will update “Where’s My Refund?” on both IRS.gov and the IRS2Go mobile app with projected deposit dates for early EITC and ACTC refund filers a few days after Feb. 15.

Taxpayers claiming EITC or ACTC will not see a refund date on “Where’s My Refund?” or through their software package until then. The IRS, tax preparers and tax software will not have additional information on refund dates.

The IRS cautions taxpayers that these refunds likely will not start arriving in bank accounts or on debit cards until the week of Feb. 27 or later, if there are no processing issues with the tax return and the taxpayer chose direct deposit.

This additional period is due to several factors, including banking and financial systems needing time to process deposits. Taxpayers who have filed early in the filing season, but are claiming EITC or ACTC, should not expect their refund until the week of Feb. 27. The IRS reminds taxpayers that President’s Day weekend may impact when they

“ ” “Taxpayers eager to know when their refund will be arriving should use the “Where’s My Refund?” tool rather than calling and waiting on hold or ordering a tax transcript..”

get their refund since many financial institutions do not process payments on weekends or holidays.

Myth 5: Delayed Refunds, those Claiming EITC and/or ACTC, will be Delivered on Feb. 15 By law, the IRS cannot issue refunds before Feb. 15 for any tax return claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC). The IRS must hold the entire refund, not just the part related to the EITC or ACTC. The IRS will begin to release these refunds starting Feb. 15.

deposits, which can take several days.

Taxpayers should keep a copy of their tax return. Beginning in 2017, taxpayers using a software product for the first time may need their Adjusted Gross Income (AGI) amount from their prioryear tax return to verify their identity.

Taxpayers can learn more about how to verify their identity and electronically sign tax returns at Validating Your Electronically Filed Tax Return.

These refunds likely won’t arrive in bank accounts or on debit cards until the week of Feb. 27 or later. This is true as long as there is no additional review of the tax return required and the taxpayer chose direct deposit. Banking and financial systems need time to process IRS Special Edition Tax Tip 2017-02 © Internal Revenue Service 2017

experience recognition

A National CPA & Advisory Firm

BKD is always striving to reach new heights. That’s why we’re proud to be a presenting sponsor of the 2017 Milestones in Banking Awards and congratulate those celebrating their 40th and 50th anniversaries of service.

Gary Edwards // gedwards@bkd.com 501.372.1040 // bkd.com

March 2017 | The Arkansas Banker

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PROFESSIONAL DEVELOPMENT Call Report Preparation Seminar Twenty-nine bankers attended the Call Report Preparation seminar held last month at the Crowne Plaza. This seminar helped preparers and reviewers better understand the preparation process for the Call Report and how to eliminate errors. The seminar began with an overview of proposed changes and approved revisions. The seminar ended with discussions about commonly cited errors made in the Call Report preparation. Each attendee received a 250+ page manual, which included materials covered during the seminar as well as additional information on other call report schedules.

Bankers from across the state listen as instructor Ann Thomas speaks about call report preparation.

“ “” ” If you missed February’s Call Report Preparation seminar, another seminar will be held September 13-14, 2017.

What People Are Saying:

“Have been coming to hers for years. Always a great presenter.”

- Christy, Farmers & Merchants Bank

“I’ve emailed Ann outside of class, talked to her in breaks, and she takes questions.

She is very engaging in class, and outside of class. Very helpful. I attended another class a few years ago, and the speakers were not Ann’s caliber.”

- Mike, First Security Bank

Best Practices in CRE Lending Workshop Quattlebaum, Grooms & Tull PLLC partnered with the Arkansas Bankers Association to present the Best Practices in CRE Lending workshop recently. Thirty-one bankers attended the event on March 6th to learn the legal risks associated with commercial real estate lending.

The goal of the workshop was to give attendees a better understanding of the legal pitfalls associated with commercial real estate lending. This allows the lenders to be in a stronger position to negotiate with their clients to ensure their institutions are protected from such risks.

Several topics were covered during the session, and bankers enjoyed the personal interaction with attorneys who conducted the event.

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The Arkansas Banker | March 2017

Over 30 bankers from across the state attended the Best Practices in CRE Lending Workshop in March.

MEMBER NEWS Greg Shaver Retires From Citizens Bank After 42 Years of Dedicated Service Citizens Bank has announced the retirement of Greg Shaver, the bank’s Executive Vice President and Secretary-Treasurer after a 42-year career at the Batesville-based bank.

Greg Shaver joined Citizens Bank in 1975 as a Management Trainee. In those early years, he served in virtually every area of the bank until being named Internal Auditor in 1978. Since that time, his leadership positions have included Cashier, Senior Vice President, Executive Vice President, Chief Financial Officer, and Secretary-Treasurer.

“It is rare to find loyalty and dedication with the proficiency that Greg Shaver has exhibited during his career with Citizens Bank,” said Phil Baldwin, President and CEO. “He is a true example of the type of individual that makes the rest of us look good. Greg’s tremendous insight, talents and experience have contributed to Citizens Bank’s expansion across the state of Arkansas. We are very pleased that Greg will continue to provide his leadership in an ongoing advisory capacity.”

The bank celebrated Shaver’s career with a public reception on Friday, March 3, in the Community Room of the Citizens Bank Annex at 285 East College in Batesville.

When Shaver joined Citizens Bank in 1975, the bank had two

YOU’RE INVITED!

locations with assets totaling $25 million. Today, the bank is a statewide franchise with assets over $750 million.

Shaver, a lifelong resident of Batesville, received a Bachelor’s degree in Business Administration from the University of Arkansas, with a major in Accounting. He has served as Treasurer for the “Christmas Brings Hope” organization since 1987, and also serves on the White River Health Systems Advisory Board. He and his wife, Debbie, are members of St. Paul’s Episcopal Church in Batesville.

They have three grown children: Allen Shaver, who lives in Rogers with his wife, Tami, and their son, Graham; Katie Ahmadzai, who lives in Batesville with her husband, Khalid, and their two young daughters: Attiya and Heelai; and Shawn Nasralla, who lives in Ashland, Oregon, with her husband, Mark, and their daughter, Kamala.

In a bank newsletter article two years ago related to his 40th anniversary with the bank, Shaver said: “God has blessed me during my career at Citizens Bank. I’ve been surrounded by friends, who supported and shared their lives with me. It’s been such an awesome journey, growing with the bank, and the community. I couldn’t have asked for anything more.”

TEACH CHILDREN TO

SAVE IS TURNING 20!

Join STASH, the Teach Children to Save pig, and bankers across the country in this 20-year celebration—and pledge to inspire local youth to become savvy savers!

Location: Classrooms and Community Centers across the country Date:

April 28, 2017 and throughout the calendar year

RSVP:

aba.com/Teach

#TeachChildrenToSave

March 2017 | The Arkansas Banker

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BANKER NEWS & MOVES KANNEMAN JOINS SIMMONS BANK AS CHIEF INFORMATION OFFICER Paul D. Kanneman has joined Simmons Bank as executive vice president and chief information officer. Kanneman worked the previous 14 years for the international accounting firm Grant Thornton and was based in Dallas. Grant Thornton provides tax and advisory services to businesses and public-sector entities around the world.

Kanneman has more than 30 years of experience in management consulting, technology management and governance advisory services.

During his time at Grant Thornton, Kanneman served in multiple leadership roles, including time as the national managing principal of the firm’s technology, business consulting, governance, risk and compliance services.

Kanneman served as a U.S. Army intelligence officer for seven years. He later worked for the global management consulting firms of Booz, Allen & Hamilton and Andersen Consulting.

Kanneman also started his own technology services company, which grew to more than 40 employees before being acquired.

From 1994-98, Kanneman was the chief information officer for the Zale Corp. He was responsible for the technology supporting more than 1,800 retail locations, three credit card processing and customer service centers with more than 12,000 employees, the corporate headquarters, and a distribution center and supply warehouse.

In his role as CIO at Simmons, Kanneman’s duties will include management of information technology infrastructure, physical and information security, data analytics, business applications and information technology project management.

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Kanneman is a member of the board of Rivers of the World Ministries and serves as an adviser to the Financial Executive Internationals Standing Committee on Corporate Information Technology. He’s a past member of the Technology Advisory Committee for the national chapter of the American Heart Association.

COURTNEY ROBERTS JOINS CORNERSTONE BANK Jason Tennant, EVP and Chief Lending Officer, Cornerstone Bank, is pleased to announce the hiring of Ms. Courtney Roberts.

Courtney Roberts has joined Cornerstone Bank as a new loan officer.

Courtney will be handling residential mortgage loans as well as consumer loans in the bank’s new Harrison market office.

Tennant stated, “We are thrilled to have a person join our bank with Courtney’s overall banking experience of 10 years. She joins an already strong banking team in Harrison. I know that Courtney will excel at lending and provide the personal and professional service that our clients deserve.”

Courtney is very active in the Woodland Heights Baptist Church and the Bergman Parent Teacher Organization.

Tennant added, “We are blessed to have her affiliation and trust, she will be a huge benefit to our bank as we continue to grow our Cornerstone Home Mortgage division. We welcome Courtney to the Cornerstone family.”

The Arkansas Banker | March 2017

KIMBERLY SHAW LEADS RETAIL BANKING FOR CITIZENS BANK Kimberly Shaw has joined Citizens Bank as Senior Vice President of Retail Banking, according to Phil Baldwin, President and Chief Executive Officer.

Mrs. Shaw, who has nearly 20 years of Arkansas banking experience, most recently served as Senior Vice President and Retail Sales Manager with Eagle Bank and Trust in Little Rock.

She has extensive experience in developing and implementing retail banking products and services.

“Kimberly is exceptionally qualified to direct our bank’s retail operations at this important time in our bank’s history,” Baldwin said. “She is an enthusiastic natural leader and will be a major asset as Citizens Bank continues to look for expansion opportunities in growing markets across the region.”

Mrs. Shaw is a native of Fayetteville. Her community service has previously included such organizations as Big Brothers Big Sisters, Easter Seals, American Cancer Society and Chamber of Commerce.

GRAND SAVINGS BANK PROMOTES TOMMY COUGHLIN TO BENTONVILLE/ROGERS MARKET PRESIDENT Tommy Coughlin has been promoted to Market President of Bentonville/ Rogers at Grand Savings Bank.

Previously a Vice President and loan officer, he made a significant impact on the bank’s

growth and success in the Northwest Arkansas market.

Coughlin is a Northwest Arkansas native with over 12 years of experience in the banking industry.

He is a member of the Bentonville Noon Rotary Club and Boys & Girls Club of Benton County Golf Tournament Committee in addition to volunteering for Sharing and Caring of Benton County.

“We are lucky to have Tommy as a part of our team,” said Guy Cable, CEO of Grand Savings Bank. “His continued leadership within our organization over the past few years has been an integral party of our growth.”

TIM COOPER JOINS STONE BANK IN HARRISON AS VICE PRESIDENT/SENIOR LENDING OFFICER Dusty Middleton, Harrison Market Manager for Stone Bank announced that Tim Cooper has been named Senior Vice President, Senior Lending Officer at the bank’s Harrison location.

Tim Cooper is a life-long Boone County native and adds even more depth to our lending team, especially in the agricultural area,” said Middleton.

We are excited to add him to our growing team of lending professionals.

He has an extensive financial background including positions with Anstaff Bank (First National Bank of Green Forest), Security Bank in Harrison, Farm Credit Services and USDA Farmers Home Administration.

Cooper serves as a board member and treasurer of Boone County 4-H Foundation and is on the Boone County Farm Family of the Year Committee.

BANKER NEWS & MOVES NATALIE BARTHOLOMEW NAMED GRAND SAVINGS BANK’S CHIEF MARKETING OFFICER, VICE PRESIDENT

GRAND SAVINGS BANK PROMOTES CARLA MARTINEZ TO MARKET PRESIDENT OF WESTERN BENTON COUNTY

Grand Savings Bank is pleased to announce Natalie Bartholomew as their new Chief Marketing Officer and Vice President. She will also work as a loan officer while playing an integral role in business development, company expansion and meeting the needs of a growing customer base.

Grand Savings Bank is pleased to announce the promotion of Carla Martinez to Market President of Western Benton County. This expands her previous role as Market President of the Gentry and Decatur locations to include Siloam Springs and Gravette, which will open in the summer of 2017.

Bartholomew is a fifth generation Northwest Arkansas resident and a third generation banker. She brings over 16 years of banking experience and a wide variety of skills to the bank.

She attended the Graduate School of Banking in Boulder, Colorado where she graduated in 2015.

Natalie is an advocate for her community where she is member of the Washington County Fair Board Executive Committee, Vice Chair of the Single Parent Scholarship Fund of NWA and a member of the NWA Business Women’s Conference Goody Bag Committee. She is a 2015 graduate of Leadership Benton County and currently serves as a member of the Arkansas Bankers Association Emerging Leaders Council. Natalie was recognized as the NWA Business Women’s Conference Young Woman of the Year in 2015 and was a member of the 2015 NWA Business Journal Forty Under 40 Class.

“We are very excited to have Natalie join the GSB team. We have no doubt that with her extensive banking background and passion for community banking that she will be a valuable asset to our bank,” said Guy Cable, CEO of Grand Savings Bank.

Martinez has 26 years of banking experience and joined Grand Savings Bank in 2014. She is an advocate for her community where she serves on the Board of Directors of the Benton County Fair Association and is an active member of the Decatur, Gravette, Gentry and Siloam Springs Chambers of Commerce.

“Carla has continued to shine as a leader within our bank,” said Guy Cable, CEO of Grand Savings Bank. “We are pleased to have her leading our team in the Western Benton County markets.”

GRAND SAVINGS BANK NAMES TYLER STEELE VICE CHAIRMAN OF THE BOARD The Board of Directors of Grand Savings Bank announced that Tyler Steele has been named Vice Chairman.

In addition to his board duties, Tyler oversees all market presidents and is responsible for the bank’s loan and deposit growth in addition to business development and community involvement.

Steele is a Northwest Arkansas native and joined Grand Savings

Bank in 2012 as the NWA Market President and Board Member. He has over 19 years of experience in Northwest Arkansas in banking and real estate development. Tyler currently serves as a basketball coach at the Boys & Girls Club of Benton County and is a past board member of the Bentonville Rotary Club and Kendrick Fincher Hydration for Life.

“We are grateful to have Tyler’s leadership on our board in addition to his role within the bank,” said Guy Cable, CEO of Grand Savings Bank. “His commitment to the community mirrors that of Grand Savings Bank.”

CLEAVER APPOINTED VICE PRESIDENT/ LOAN OFFICER AT CORNERSTONE BANK Charles T. Cross, President & CEO, Cornerstone Bank, is pleased to announce the hiring of Mr. Matt Cleaver to the position of Vice President/Loan Officer for the bank’s Madison County market. Mr. Cleaver will office in Huntsville and handle all types of lending for the local bank with an emphasis on agricultural and commercial loans.

Matt Cleaver is a native of Madison County He has spent the past two plus years with Tyson Foods, most recently as the Farm Manager for the company’s Enhanced Colony Research Farm.

ALEXANDRA KOSMITIS JOINS SIMMONS BANK Alexandra Kosmitis of Pine Bluff, Ark., has joined Simmons Bank as executive project manager. In her new role, Kosmitis will lead and administer various executive and company wide projects.

Kosmitis, an attorney and a certified public accountant, previously worked as an associate at the Pine Bluff law firm Bridges Young Matthews & Drake. Among other duties at the firm, Kosmitis advised clients on estate planning and administration, assisted with the administration of qualified plans and researched civil litigation matters.

“Alexandra brings important skills to our company as both an attorney and CPA,” said George Makris Jr., Simmons’ chairman and chief executive officer.

“She will play a key role as we continue our growth.”

Kosmitis holds degrees from the University of Arkansas School of Law and the University of Florida Levin College of Law. She is extremely active in civic affairs, serving as the chairman of Pine Bluff Positive Youth Development and the finance chairman of the Pine Bluff Parks and Recreation Commission.

She’s also a member of the board of the United Way of Southeast Arkansas, the Arts and Science Center for Southeast Arkansas and the Pine Bluff Chamber of Commerce.

Cross stated, “We are excited to welcome Matt into our Cornerstone family and know he will be a great addition to our experienced Huntsville team. His knowledge of Madison County and background in agricultural business will be a tremendous benefit as he begins his banking career. Our bank is fortunate to have his affiliation with our company.”

March 2017 | The Arkansas Banker

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BANKER NEWS & MOVES Home BancShares & Centennial Bank Announce Acquisition of Bank of Commerce Home BancShares, Inc., parent company of Centennial Bank, announced the completion of its acquisition of The Bank of Commerce, from its parent company, Bank of Commerce Holdings, Inc. , as part of BCHI’s bankruptcy. Pursuant to the terms of Home’s acquisition agreement with BCHI, Home purchased all of the issued and outstanding shares of common stock of BOC yesterday, February 28, 2017, and BOC merged with and into Centennial effective as of the close of business yesterday.

As of January 2017, BOC had approximately $182.5 million in total assets, $127.5 million in loans, and $141.7 million in deposits. With the completion of the acquisition, the Company now operates 76 branches in Arkansas, 68 branches in Florida, six branches in South Alabama and one in New York City.

“The completion of this transaction provides expanded service to The Bank of Commerce customers as well as to our current customers,” said John W. Allison, Chairman of Home

BancShares. “We are excited about this addition to our existing presence in Central Florida.”

“The Bank of Commerce customers will now have access to expanded products, services and locations in the Sarasota market,” said Tracy French, Centennial President and CEO. Until Centennial and BOC convert to a single operating system—anticipated to occur in the second quarter of 2017, Centennial and BOC customers should continue to do business at their current Centennial or BOC branches.

Under the terms of the agreement, Home paid an aggregate of approximately $4.2 million in cash for the acquisition, which included the purchase of all outstanding shares of BOC common stock, the discounted purchase of certain subordinated debentures issued by BOC from the existing holders of the subordinated debentures, and an expense reimbursement to BCHI for approved administrative claims in connection with the bankruptcy proceeding.

Home BancShares Announces Acquisition of Giant Holdings Home BancShares, Inc., parent company of Centennial Bank, announced the completion of its acquisition of Giant Holdings, Inc. , parent company of Landmark Bank, N.A.. Pursuant to the terms of a previously announced definitive agreement and plan of merger, GHI merged with and into Home effective at the close of business yesterday, February 23, 2017, and Landmark merged with and into Centennial immediately thereafter.

As of January 2017, GHI had approximately $396.9 million in total assets, $329.4 million in loans, and $302.6 million in deposits. With the completion of the acquisition, the Company now operates 76 branches in Arkansas, 65 branches in Florida, six branches in South Alabama and one in New York City.

“The acquisition of Landmark is another example of our ability to make smart, strategic deals that are immediately accretive to diluted earnings per share, book value and tangible book value,” said John Allison, Chairman of Home. “This merger provides added shareholder value on day one while increasing our market share in the Ft. Lauderdale area. Jeff Roschman and his great team of bankers are an excellent addition to our Company.”

Jeff Roschman, GHI’s Chairman, added, “GHI shareholders, customers and bankers will benefit from this merger through the opportunities that joining an established and qualified team like Centennial provides. Our customers will gain access to an expanded range of products backed by a proven history of strong financial performance while continuing to receive the outstanding community banking service they have grown

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The Arkansas Banker | March 2017

accustomed to.”

“We are excited to partner with Home and Centennial, because they share similar values of customer and community service and the same strong desire to cultivate growth and development in our market,” added Perry LaCaria, Landmark President and Chief Executive Officer. “Joining Home will accelerate and expand our ability to meet the growing needs of our customers while maintaining our strong commitment to the markets we serve.”

“Centennial Bank welcomes the customers and talented bankers of Landmark and looks forward to the added value this expansion will bring to our franchise in Southeast Florida,” said Tracy French, President and Chief Executive Officer of Centennial Bank. “The Centennial conversion team and bank associates began preparing for the conversion process soon after the signing of the definitive agreement and are scheduled to convert Landmark the weekend of March 24. As a result of this quick conversion, we are expected to more quickly realize cost savings to the Company and ultimately the shareholders.”

Under the terms of the agreement, Home will issue approximately 2,738,000 shares of its common stock valued at approximately $77.5 million as of February 23, 2017, plus approximately $18.5 million in cash in exchange for all outstanding shares of GHI common stock.

CLASSIFIEDS

INDEX OF ADVERTISEMENTS Simmons Bank

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ARKANSAS BANK DEPARTMENT 2

First Tennessee Bank

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DataScout Pro

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DDF

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BKD 17 www.bkd.com

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APPLICATIONS & APPROVALS

Branch Bank Application An application filed by First Financial Bank, El Dorado, Union County, Arkansas to establish a branch banking facility at 12921Cantrell Road, Suite 105, Little Rock, Pulaski County, Arkansas has been approved.

An application filed by Piggott State Bank, Piggott, Clay County, Arkansas, to establish a branch banking facility at 400 North Main Street, Rector, Clay County, Arkansas has been approved.

An application filed by First Security Bank, Searcy, White County, Arkansas to establish a branch banking facility at 2504 West Main Street, Suites G&L, Russellville, Pope County, Arkansas has been approved.

ADVERTISEMENTS For more information on advertising in The Arkansas Banker, please contact Traci Logsdon, Director of Communications, via email at traci.logsdon@arkbankers.org, or by phone at 501.978.3603.

The Arkansas

Banker 1220 West Third Street Little Rock, AR 72201 Phone 501.376.3741 Fax 501.376.9243 www.arkbankers.org

March 2017 | The Arkansas Banker

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Bringing you more of what you want!

To see what is new and to register for the 2017 Convention, visit www.arkbankers.org/Convention.aspx 24

The Arkansas Banker | March 2017