2021
The
Independent and proud of it!
Bottom Line
CorTrust Bank: Invested in Relationships
People You Should Know: Keith Gruebele, Bankers Healthcare Group
From the ICBSD Chairman of the Board by Roger Weber
Finding Focus in 2021 by Megan Olson
A Set of Simple Rules to Streamline Portfolio Management in 2021 by Jim Reber
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contents
INSIDE This Issue ICBSD 2021
FROM THE DESK OF 2 President’s Message Finding Focus in 2021 by Megan Olson, President & CEO of ICBSD
Chairman From the Chairman’s Desk by Roger Weber, Chairman of ICBSD, Sioux Falls Market President, CorTrust Bank
18 New Member Spotlight
4 From the ICBSD
5
From the ICBA Chairman From the Top by Robert M. Fisher, Chairman of ICBA
Report by Emily Hofer, CFO, Merchants State Bank, Freeman, SD, ICBA National Director
8 ICBSD PAC:
Contribute Today!
11 People Over Partisanship by Senator John Thune
megan@icbsd.com
Know: Keith Gruebele Executive Vice President of Institutional Relationships, Bankers Healthcare Group
14 CorTrust Bank:
7 Federal Delegate’s
P.O. Box 615, Watertown, SD 57201 605.878.3040
12 People You Should
3 Rebeca’s Remarks Flourish by Rebeca Romero Rainey, President & CEO of ICBA
FROM CAPITOL HILL
www.icbsd.com
Community spirit
Invested in Relationships by Hannah Merritt, ICBSD Marketing and Public Relations Powered by United Bankers Bank
Upgrade, Inc., Bankers Health Group, Onovative
20 In Memory
Ronald “Ron” E. Troske
22 In Memory
John R. Beyers
26 Do’s, Don’ts, and Maybes COVID-19 has A Set of Simple Rules to Streamline Portfolio Management in 2021 by Jim Reber, President, ICBA Securities
President’s Message From the president
Megan Olson, President & CEO of ICBSD
Finding Focus in 2021 Whether flipping through television, reading the paper or scrolling through social media
“Through our email communications and updates, complementary conference calls on breaking industry information, networking and ongoing webinars, we are always on the lookout for ways in which we can help you navigate the challenges of today’s landscape.”
getting caught up in global and national events is easy to do. A considerable amount of time can be spent worrying about circumstances that are far beyond our control, and yet we become consumed by stress, anxiety and emotions. Combined, all of this can have a negative impact on our physical and mental well-being including: loss of focus, productivity, personal growth and even opportunities. As we close out the first quarter of 2021, we are still tussling with the same challenges 2020 presented with little certainty of what will happen next. Rather than getting caught up in this “noise,” I am reminded our precious time and energy is best spent concentrating on our center of focus so we can continue to grow personally and professionally. As the President and CEO of the Independent Bankers of South Dakota my center of focus for 2021 will remain executing the mission of the association and our commitment to community banking which is to “provide exclusive advocacy, education and resources for our family of South Dakota independent community banks.” With a new administration in Washington D.C., and new legislators in Pierre, I remain committed to leading the fight for level playing fields, advocating for regulatory flexibility within the PPP, and promoting the many advantages of banking locally. My colleague John McNair recently made a statement which resonated with me, and I’d like to share it with you all. He said, “Throughout history you will find good leaders, bad leaders, civil challenges, pandemics, economic crises, and sometimes international conflicts. At the center of it all is the individual. I believe it is important during times of strife to identify those values and belief systems that make up our individual center and focus precious time on enhancing those values which you identify.” For all of you reading this, as community bankers, your center of focus is your unwavering commitment to serving your communities. Whether by assisting a customer through the Paycheck Protection Program after business hours, or allocating your personal time to volunteer at a local non-profit organization, your center of focus has been guiding you all along. As you continue to carry out your center of focus, please be reminded the ICBSD will be by your side every step of the way. Through our email communications and updates, complementary conference calls on breaking industry information, networking and ongoing webinars, we are always on the lookout for ways in which we can help you navigate the challenges of today’s landscape.
megan@icbsd.com
In closing, despite the stress of today’s landscape, I hope you can find strength and stability in your service to your communities. Thank you for all that you do!
2 The bottom line
Rebeca’s Remarks Flourish From the president
Rebeca Romero Rainey, President & CEO of ICBA
The art of storytelling began as a way to solidify cultural history and preserve details for future generations. Yet, to be retained, stories have to trigger us to remember them; they have to elicit an emotional response. In short, stories from the heart stick with us.
“Our marketing efforts ... often center on the stories we tell, and they resonate because they unveil the beauty of our joint community experience.”
Our marketing efforts as community banks often center on the stories we tell, and they resonate because they unveil the beauty of our joint community experience. For example, we’ve given home mortgages to the children we watched grow up in our backyards. We have supported retirement plans for those we sought out for advice when we were kicking off our careers. We have kept our communities thriving by offering loans to new entrepreneurs putting down roots in our area. One story at a time, we’ve supported generations of people. We can’t underestimate how much that community connection matters. We are a culture unto ourselves, with deep roots in our communities, and those intertwined experiences demonstrate the strength of the bonds between us. This connected relationship means that when one of us flourishes, the other does as well. So, when we share our banking success stories, we also spotlight members of our communities. Consider the small business that stayed open during the pandemic because we were able to secure them a Paycheck Protection Program (PPP) loan, or the expectant parents who built a new nursery through a home equity loan. Think of the local nonprofit that was able to continue its fundraising because of electronic payment options enabled by our banks, or the family that was able to send emergency funds to an aging parent. These are the histories of our journey as a collective community, supporting one another in times of celebration and difficulty. ICBA, too, embodies this rich history of community connection. Founded by a group of passionate community bankers, its members continue to fight to preserve the future of community banking. We carry that torch as we come together during this month’s ICBA Connect and continue our work to advance our founding members’ legacy at a national level. As you read this month’s Independent Banker, I hope its marketing insights inspire your community bank in its own storytelling efforts. We cannot lose sight of the power of our stories and the emotional connection that will link our past to our present and our future. As a closeknit community, we must continue to share our stories for generations to come.
@romerorainey
What you need to know ICBA offers a “Tell Your Story” Toolkit to empower you to share your community bank’s impact. To find the toolkit, visit icba.org/marketingtoolkit ICBSD 2021 3
rweber@cortrustbank.com
From the Chairman’s Desk
From the Chairman Roger Weber, Chairman of ICBSD, Sioux Falls Market President, CorTrust Bank As I write this column, we hopefully have the sub-zero temperatures behind us, and it is sunny and 50 degrees in March. Spring brings hope of a better year, with the Covid-19 vaccine being distributed throughout the state, improved farm commodity prices and hopefully resurgence in tourism this summer. I wanted to say thank you to all the Community Bankers across the state that worked tirelessly to support their customers, friends, neighbors and communities throughout 2020. One of the examples where you made a difference was in helping bring change to the Paycheck Protection Program for
4 The bottom line
farmers. In the first two funding rounds of the Paycheck Protection Program, South Dakota’s farmers and ranchers were largely shut out due to the restrictions in the income calculations. Our rural, independent community banks were quick to recognize this issue, and without hesitation, successfully lobbied our state legislators for change. Although this took nine months to move through the process in D.C., we had success for the sole proprietors. We continue to work on the ongoing calculation issues with farmers that are set up as partnerships and LLC’s. I am hopeful that this too will be corrected, and this is one issue we can get bi-partisan support on.
Once again, community banks continue to lead the charge in processing PPP loans nationwide. It is not lost on me that you are all processing a high volume of the first time PPP loans for farmers at the same time you are working on your operating loan renewals. It should be obvious to any one paying attention that community bankers all over the state continue to work long hours to help their customers, friends and neighbors. Thank you for all you do for your communities and let’s look forward to an improved 2021!
@ RobertMFisher
From the Top
From the Chairman Robert M. Fisher, Chairman of ICBA
“In today’s climate, our voices are vital not only to the future of financial services, but to the millions of small businesses and consumers who depend upon us.” In today’s data-driven society, we hear a lot about engagement. Whether it’s social media likes, website views, call center touchpoints or branch visits, the bottom line amounts to how we engage with our customers and affect their experience. As relationship bankers, these insights mean more to us than any others, yet our measure of engagement must extend far beyond simple interactions. Because an engagement is a commitment to meeting the needs of those with whom we connect. And I believe it’s the single most important thing we can do. Being fully engaged is critical to succeeding at anything in life, particularly things that challenge us. Even when it’s a difficult step to take, once you commit to the task at hand, the process typically flows.
myTOP3 When it comes to entertainment, for me, engagement is all about varying types of humor. Take my three favorite TV shows as proof:
1. Seinfeld 2. T he Grand Tour (it’s the British Top Gear)
It’s true: When the going gets tough, the tough get going. That statement speaks to the importance of our collective commitment. This deep community engagement serves as the focal point of Community Banking Month, because the more bankers we can engage, the more powerful our message. Legislators and regulators listen to greater numbers of people advocating for the same position. Consider our success in shaping the Paycheck Protection Program. A lot of grassroots advocacy went into that outcome, and when I think back, I realize I was on twice-a-week Zoom calls with our congressman to help him understand our issues. His office, in turn, echoed our concerns to the Small Business Administration, and that same scenario played out in communities throughout the U.S. It took our collective efforts to achieve success. That’s why I’m calling on all community bankers to become more deeply engaged with ICBA. In today’s climate, our voices are vital not only to the future of financial services, but to the millions of small businesses and consumers who depend upon us. It’s our duty to speak up on their behalf and ensure an equitable playing field, so we can offer the best possible services. This year, I’m humbled and honored to serve as ICBA chairman, and I’m making it my mission to drive engagement with the association. If you have a question, problem or need, please reach out to me directly (rfisher@tiogabank.com). I may not have the answer, but I’ll find someone who does. We’re all in this together, and if we want to change things and make them better, we need bankers to get engaged in the whole process. I look forward to our efforts over the next year and the successes that will come from them. In the meantime, happy Community Banking Month!
3. Ozark ICBSD 2021 5
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6 The bottom line
ehofer@msb-sd.com 605-660-4790
“Community bankers have proven our industry to be nimble, while adhering to our roots and relationship banking philosophy, one loan – one customer – at a time, building and sustaining the communities that we call home.”
Federal Delegate’s Report by Emily Hofer, ICBA National Director, Merchants State Bank, Freeman, SD
and creating economic opportunity on
and to keep our internal fires stoked for
Main Street.
2021 and beyond.
ICBA’s President & CEO, Rebeca Romero Rainey, recently sent an open letter to the newly sworn in members of the 117th
My favorite ICBA event of the year – the Washington Policy Summit – is going
Congress. In this letter, Romero Rainey
virtual this year too. I know ICBA is hard
outlines ICBA’s policy priorities for this
at work hashing out the details at this
new Congress. ICBA’s laser-focus on
time. I’m certain that they will find a way
supporting Community Banks has not and
to get us face-to-face virtually with our
will not waiver with the ever-changing financial landscape. Priorities to support a competitive landscape for a dynamic
elected delegation in Washington. Since a virtual event will be a significant cost
We made it! We made it to 2021. The
economy and continued Community Bank
savings to your travel budget for the year,
year 2020 felt like the longest decade of
prosperity include abolishing regulatory
I encourage you to engage as many of
my life! We are a short two months out
subsidies for Fintechs; closing the ILC
your staff as possible in this event. They
of the gate into 2021, and it somehow
loophole; eliminating tax subsidies for
feels like Groundhog Day. We have been
rapid-growth, bank-like credit unions;
propelled back into the PPP zone. We are
stalling Farm Credit’s overcrowding of
still facing shutdowns and cancellations of
the rural lending space; incentivizing
events. The vaccine program is deploying
American agriculture; supporting housing
that speaks up for Community Banking is
too slow (for my liking.) I’m looking
finance reform to provide access to
important to our continued success.
forward to the post-pandemic time of our
secondary markets for lenders of all
lives.
sizes; and squashing the postal banking
Just like Bill Murray’s character in
initiative.
Groundhog Day, I’m looking forward
Community bankers have proven our
will be able to attend from the office and will have a front row seat to ICBA’s advocacy efforts. Each and every voice
to a new season – a season with
industry to be nimble, while adhering
This ICBSD Bottom Line is hitting your
to our roots and relationship banking
inboxes around the eve of ICBA’s largest
less regulatory changes, a season of
philosophy, one loan – one customer –
event of the Year – ICBA Connect. I’m
prosperity for Main Street America, and
at a time, building and sustaining the
finally coming to terms with the fact that I
a season of face-to-face meetings with
communities that we call home. We
won’t be meeting my boyfriend, Matthew McConaughey, on the beach in Hawaii
peers and friends. Until that time comes,
provided the overwhelming majority of PPP loans in the first round, and I believe
in March! Although we aren’t meeting
that trend will continue through this
in person this year, ICBA has designed
second round. Our industry has been
a virtual and interactive program that is
or stories to share, I can be reached at
critical for maintaining and restoring jobs
sure to inspire us as Community Bankers
ehofer@msb-sd.com or 605-660-4790.
I hope to see you all virtually. As always, if you have any questions, comments,
ICBSD 2021 7
The ICBSD Political Action Committee... helps provide South Dakota community banks with a strong voice in state politics through contributions to candidates for state elected offices. These contributions help ensure we have a seat at the table when issues affecting your bank are being discussed in Pierre.
Bob Satter Former Community Banker, Merchants State Bank
Thank you for supporting the ICBSD Political Action Committee!
“I financially support PAC 100 and believe in independent community banks because of their local decision making and support of rural America.”
2021 Pac 100 Club Monte Troske . . . . . . . . . . . . . . . . . . . . . . Farmers State Bank, Turton Mark Troske . . . . . . . . . . . . . . . . . . . . . . . Farmers State Bank, Turton Rory Troske . . . . . . . . . . . . . . . . . . . . . . . Farmers State Bank, Turton Wayne Board . . . . . . . . . . . . . . . . . . . . . . Farmers State Bank, Turton Terry Vogel . . . . . . . . . . . . . . . . . . . . . . . Farmers State Bank, Turton Kevin Teigen . . . . . . . . . . . . . . . . . . . . . . Farmers State Bank, Turton Jeffery Fullerton . . . . . . . . . . . . . . . . . First Western Federal Savings Bank Nicholas Conway . . . . . . . . . . . . . . . . First Western Federal Savings Bank Dean Zubke . . . . . . . . . . . . . . . . . . First Western Federal Savings Bank Ted Grooms . . . . . . . . . . . . . . . . . . First Western Federal Savings Bank Leroy Christianson . . . . . . . . . . . . . . . First Western Federal Savings Bank Peter Molitor Jr. . . . . . . . . . . . . . . . . . First Western Federal Savings Bank Robert Huber . . . . . . . . . . . . . . . . . . . . . . . Campbell County Bank Troy Beck . . . . . . . . . . . . . . . . . . . . . . . . . Campbell County Bank John Wiest . . . . . . . . . . . . . . . . . . . . . . . . . Campbell County Bank Myron Rieker . . . . . . . . . . . . . . . . . . . . . . . Campbell County Bank Roy Dean Schwartz . . . . . . . . . . . . . . . . . . . . Campbell County Bank Bruce Brandner . . . . . . . . . . . . . . . . . . . . . . Campbell County Bank Scott Nuzs . . . . . . . . . . . . . . . . . . . . . . . . Campbell County Bank David Johnson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reliabank Jan Johnson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reliabank David Ebers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reliabank Josh Houge . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reliabank Jane Swenson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reliabank Bob Smithback . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reliabank Hugh Bartels . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reliabank Mark Lee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reliabank Jermey Keizer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reliabank Reid Johnson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reliabank
Contribute Our thanks in advance for your support of the PAC 100. Your PAC 100 contribution supports legislative candidates throughout our bankers’ districts. Contact Megan Olson to learn more. Your checks can be mailed to: ICBSD PAC, PO Box 615, Watertown, SD 57201
8 The bottom line
Mark Lee Board Member, Reliabank “Early in my advocacy career I learned an important lesson – if you are not telling policy makers your story, someone is telling it for you. While that was nearly 40 years ago, it remains true today. Community banks have a great story to tell and that’s why our Board unanimously supports the ICBSD PAC. Advocacy is far too important to leave to chance.”
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ICBSD 2021 9
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10 The Bottom bottom Line line
Member FINRA/SIPC
FROM CAPITOL HILL
People Over Partisanship
john Thune
United States Senator (R-S.D.)
President Biden pledged to be a
administration has plans for sweeping
And most recently, the president teamed
president for all Americans. He reiterated
immigration reform, but does not seem
up with Senate Democrats to push
that sentiment at his inauguration,
to be placing much of an emphasis
through a partisan budget resolution
stating, “On this January day, my whole
on border security. Instead, they’ve
soul is in this: Bringing America together,
reduced the wall to a symbol of the
uniting our people, uniting our nation.” But it’s not enough to talk about unity. It has to be matched with action. And too many of the president’s actions so far have been more calculated to appeal to the far-left wing of the Democrat Party than to unite Americans.
Trump administration and chose to satisfy immigration activists by halting construction – without offering alternate ways to secure our borders against a flood of illegal immigration or drug and human trafficking and other criminal activity.
In his first two weeks in office, the
designed to pave the way for a partisan COVID relief measure – despite the fact that Congress has produced five prior COVID relief packages and appropriated trillions of dollars on an overwhelmingly bipartisan basis. Now is the time for President Biden to show whether he really intends to live
Then of course there’s the president’s
up to his inaugural pledge and unify
decision to overturn the Mexico City
our nation. That means not just talk, but
like a wish list of liberal priorities. In a
policy, which prevents taxpayer dollars
action. It means working with lawmakers
nod to the far-left environmental wing
from being used to fund abortions
of both parties to develop legislation
of the Democrat Party, the president
in other countries. The majority of
issued a moratorium on new oil and gas
Americans do not believe in unrestricted
leasing on federal lands and called a
abortion, yet the president has acted to
halt to the Keystone XL pipeline. On day
ensure that American tax dollars can go
one of his presidency, President Biden
to fund overseas abortions – whether
effectively fired 2,000 pipeline workers
Americans want them to or not. In
president has signed off on a long list of executive actions, many of which read
and told another 9,000 to never show up.
addition, this administration has given every sign that it intends to pursue a
– not pushing exclusively Democrat measures. It means urging Democrat congressional leaders to actually negotiate with Republicans, instead of trying to force through an agenda that lacks the support of half or more of the country. And it means focusing less on
Then, of course, there’s the president’s
radically pro-abortion agenda that is out
checking off the priorities of the far left
order halting construction of the wall
of step with the views of the majority of
and more on actually representing the
on our southern border. The Biden
Americans.
views of a majority of Americans. ICBSD 2021 11
PEOPLE
you should
KNOW by Hannah Merritt Marketing & Public Relations
Keith
Gruebele
Executive Vice President of Institutional Relationships Bankers Healthcare Group
From a young age, building sound
than $708 million dollars in interest income
relationships has always been a priority for
through BHG’s loan platform.
Keith Gruebele of Bakers Healthcare Group.
twenty three years. He began his career with
parents. Throughout my upbringing, they told
Bankers Healthcare Group in 2010 working
me to always put forth positive energy, be the
on the originations platform building internal
best I can be and life would give that back. I’ve lived by that well into adulthood both personally and professionally,” said Keith. Keith has turned his passion for relationships
12 The bottom line
Keith has been in the finance industry for
“I am relationship driven thanks to my
processes and procedures, many of which are still in place today. When he began, BHG employed one hundred individuals. Today they have grown to eight-hundred and fifty
into a rewarding career. Bankers Healthcare
employees. As the company grew, so did
Group is the nation’s leading source of
Keith’s roles and responsibilities. Keith now
medical and professional loans, which are
serves as the Executive Vice-President of
sold to community banks. Since 2001, over
Institutional Relationships, working directly
1,200 community banks have earned more
with community bankers.
“Our team takes great pride in our work, and it shows within our product and the relationships we build. We are not salesmen. Our work is not transactional. Every decision we make is driven by the needs of our community bank partners. Working with BHG is a partnership, value exchange is very important to us,” said Keith.
You can learn more about Bankers Healthcare Group here: bankershealthcaregroup.com
While there may be similar products in the marketplace, none measure up to the quality and professionalism of Bankers Healthcare Group. According to Keith, where BHG differentiates themselves from others is within compliance, standards, and their relationship-focused model. “We hold ourselves to the highest standards, as well as our borrowers. One of the many ways we do this is through our compliance team which consists of former OCC and FDIC examiners. Having subject matter experts throughout our departments has allowed us to be the leader in our lane. We have full confidence and integrity in all that we do.” In fact, BHG’s loans are in the top three percent of credit profiles in the nation. In their twenty years of operation, a bank has never taken a single loss through BHG’s loan portfolio. “Like community banks, the success and longevity of our business is dependent on strong relationships with our customers. It only makes sense that we align ourselves with those who share our same passion, values and accountability. We’ve built every relationship we have with a handshake, and we enjoy working with those who reciprocate that.” Outside of work, Keith lives his “be the best I can be” mantra to its fullest. Hailing from Latin American roots, the excitable, vivacious and colorful traditions of his heritage are an important part of his personal life. Keith is a devout advocate for personal growth, and in fact has completed motivational speaking training courses through Les Brown and Tony Robins Mastery University. When he is not in front of a crowd coaching others to be their best, Keith can be found with his extended family cooking meals, sampling wine and enjoying each other’s company. Prior to COVID-19, Keith enjoyed the grueling two-a-day training sessions which allowed him to become a successful CrossFit competitor. Now, with more time being spent at home, Keith is taking up boating with the hopes of one day getting his captains license. ICBSD 2021 13
Powered by
Invested in
Relationships by Hannah Merritt Marketing & Public Relations
CorTrust Bank is an important figure in the history of South Dakota communities, as well as in the history of Independent Community Bankers of South Dakota. Since their inception in 1930, giving back to the communities they serve has been vital to the success of their branches across Eastern South Dakota. Whether getting involved on the school board, chamber of commerce or volunteering time coaching, CorTrust Bank strongly encourages their employees to be involved in the communities they call home.
Invested in their Communities “South Dakota is a wonderful place to live, but it wouldn’t be if people weren’t willing to give back. For us, community involvement is not a short-term investment. We are constantly looking for ways to improve our communities,” said CorTrust Bank President & CEO and third-generation banker, Jack Hopkins.
Minnesota Avenue Location Sioux Falls
CorTrust Bank has made it clear they are growing for the future. With 22 branches in South Dakota and 15 in Minnesota they don’t have any intentions of slowing down. Amidst their growth and expansion across state lines, the CorTrust team has consistently nurtured a workplace culture that prioritizes stewardship, community involvement and industry activism company wide. They credit this success to their leadership team and ability to build lasting relationships. “Many members of our leadership team have come from small towns. They understand what it is like to live, work and play in rural America,” said Jack.
Vermillion Location CorTrust Bank
14 The bottom line
Sioux Falls Market President and ICBSD Chairman of the Board, Roger Weber is one of many members of the leadership team from rural South Dakota. Roger is from Bridgewater, SD and pursued his undergraduate degree at South Dakota State University (Jack, an enthusiastic USD alum, jokingly claims Roger’s undergraduate degree “doesn’t count.” The two men have an ongoing, friendly rivalry that is
Left: CorTrust Mortgage Jeans for a Cause. Raising money for organizations that were especially taxed during the pandemic. Brittany Kirchner, Dawn Renner, Wendy NanKivel, Amy Moss, Mindy Reemts, Tod Hopkins & Haley Ullom Right: Todd Hopkins, President CorTrust Mortgage, Jack Hopkins, President and CEO CorTrust Bank and Boyd Hopkins, Chairman of the Board of Directors
School Foundation, Make-A-Wish of South Dakota, South Eastern Development Foundation, chairman for Sioux Empire Housing Partnership, chairman for Sioux Falls Chamber Appeals Committee, State Theater Board, and current board member for Southeastern Council of Government.
Invested in the Industry
CorTrust Bank Habitat for Humanity Volunteers – Sioux Falls
sure to come up any time they are together!). Roger has worked alongside Jack for 17 years and shared one notable observation. “Jack leads by example. He is great about encouraging our employees to find their passion and volunteer. Jack is involved in many charitable causes – he is active in the chambers of commerce, LifeScape South Dakota, Catholic Schools Foundation, and USD Foundation just to name a few. He makes sharing his time with these organizations a priority, which inspires others to do the same.” Roger came to CorTrust bank from a national financial institution. Roger noted, “The biggest change coming into a family run bank was the management style. Management was no longer by committee. Decisions are made in-house which allows us to respond quickly to the market and customers’ needs. On top of that, I saw how invested management is within their communities. I now have the support of my employer to volunteer my time and make a difference.” Roger is no stranger to community involvement. His contributions include past chairman for Sioux Falls Catholic
In addition to serving their communities, Jack and Roger also serve the banking industry well. Both men have a shared interest in the Independent Community Bankers of South Dakota. In fact, there is a legacy of CorTrust Bankers who have played a significant role in the association. In 1983, the ICBSD was commissioned under the influence of multiple industry advocates including then CorTrust Bank President Boyd Hopkins Jr. Their mission: to allow bankers to stay connected, share information and resources and advocate for the betterment of industry. Today, that legacy lives on within the next generation of community bankers who remain committed to the mission, industry and fellow bankers. For CorTrust Bank, that commitment runs deep throughout the organization. In addition to aiding in the start of the ICBSD, Boyd Hopkins Jr. served as chairman of the ICBSD board of directors as did his son, Jack from 1999 to 2001. Two additional CorTrust Bankers have also served as chairmen: Yankton Market President Lynn Peterson from 2006 to 2007 and Mitchell Market President Terry Torgerson from 2014 to 2015. Now, Roger Weber is carrying on the CorTrust tradition as the fifth CorTrust Banker to serve as chairman. When asked why participating on the ICBSD board of directors was important Roger commented, “The ICBSD and CorTrust Bank missions align extremely well. It’s about serving communities, customers and fellow community banks. The voice community banks need is different than a national bank. I’ve had the opportunity to see this through my time at CorTrust.” ICBSD 2021 15
processing his loan. We gained a new customer that night,” grinned Jack. Grateful for the opportunity to serve new and existing customers, the CorTrust team found Aberdeen Salvation Army. Filled over 550 bags of food for motivation to keep families in need during Christmas. Mark Hahler, Connie Kusler, Heather Sieh & Corey Bobzien up with customer demand through teamwork, collaboration and strengthening relationships within their team; something Roger said was equally gratifying. Boyd Hopkins Jr, Boyd Hopkins Sr and Jack Hopkins
Invested for the Long Haul When the pandemic hit the U.S. last February, supporting their communities took on an entirely new meaning but their personal connection and relationships with customers did not change. “When the first documented case of COVID-19 was confirmed in the U.S., we dusted off and reviewed the pandemic response portion of our Disaster Recovery Program. I joked with our team and said I hope we don’t have to implement this,” said Jack. While there were many challenges, CorTrust Bank capitalized on many unlikely opportunities presented by the pandemic. They were no longer able to connect with their customers face to face, yet through technology and innovation they were able to serve their customers in other ways. Due to the trust and strong relationships they built with their customers, CorTrust Bank was able to increase customer facing efficiencies. During the height of the pandemic, the banks mobile deposits increased by 39%, active online banking customers increased 9%, electronic statement delivery increased by 11%, and opt-in email communications (“…with valid email addresses,” added Jack) increased by 18%. Yet, their number one opportunity has been their ability to enhance their customer relationships by working with them through hard times. Thirty-seven percent of the PPP’s loans CorTrust closed were for individuals who were not customers prior to the pandemic; most of them coming from Wells Fargo and US Bank. In addition, most of those individuals have since transferred their business to CorTrust Bank. “Round one of the PPP was intense! Our team stayed well after hours to key in loans in order to take care of our customers. After locking up one night, I struck up casual conversation with a gentleman in the parking garage. The conversation quickly turned into business, and he expressed frustration. His current bank wasn’t helping him with his PPP loan. In that moment we headed upstairs, I unlocked the doors, and we began 16 The bottom line
“Throughout COVID, we built great teamwork! Things were constantly changing. It was fun to see our teams come together, collaborate and figure things out. People were working all hours of the day for their customers. I witnessed the pride they have in their work and the respect they have for fellow employees. Their commitment to our customers is sincere,” said Roger. Building relationships with their communities and customers isn’t the only thing CorTrust Bank does well. They build strong and lasting relationships with their employees, too. For Jack and the leadership team, family comes first, and their employees are like family. Allowing their employees to have the flexibility to attend family events and activities is an important part of the CorTrust culture. “They see me occasionally take time off to attend family events. I fully expect our employees to have the same opportunity,” said Jack. Aligning the organizational values with those of their employees has built tremendous employee loyalty and resulted in low turnover, both of which strongly benefit the customers and communities they serve. “That’s one of the things I’m most proud of. We don’t lose people often, if we do it’s to retirement or illness. Looking around at our middle and senior management, most of them are tenured. We just don’t lose people,” said Jack. In today’s landscape, the community banking business model is more important than ever before. Based on relationships and personal connections, CorTrust Bank understands the needs of their communities and their customers. Where there is a healthy community, there is a healthy community bank; this is something CorTrust Bank has proven to be true. Through investing in their communities, building lasting relationships with their employees and being a committed advocate for the industry, CorTrust Bank will remain an important and invested figure in South Dakota community banking.
You are more than a bank, You are part of the COMMUNITY. Over these last months, you’ve seen your community endure tough challenges. Banks also face uncertainty, and, in some neighborhoods, branches are under-utilized. Transforming to a core integrated ITM in a Mini Branch provides your customers the transactions and access they require. An Electronic Mini Branch keeps you in the community and has the ability to support up to 95% of teller transactions.
Connect with CARL ANDERSON CarlA@NuSource.com | (605) 377 - 8427 | NuSource.com
ICBSD 2021 17
New Member
Spotlight New Associate Member Spotlight
Upgrade offers affordable and responsible credit to mainstream consumers through cards and loans. Launched in April 2017; employs 357 team members in 3 offices
Personal Loans: • Facilitated $3Bn+ of consumer loans since inception • Refinances credit cards at lower cost
Auto Loans: • Passenger cars/trucks, 2 to 6-year fixed rate fully amortizing loans • Current registration and insurance
New Preferred Partnership Spotlight BHG continues to transform the financial industry; leveraging the power of data, quantitative analytics, and cutting-edge technology to become not only the number one source for professional loans, but also the creator of the largest community bank loan and product network in the country. Since 2001, BHG has originated more than $7 billion in loan solutions to top-quality borrowers, which community and midsize banks can access via a state-of-the-art loan delivery platform. Building on nearly two decades of innovation, BHG and its family of brands now offer a full suite of financial solutions that span business, consumer, and SBA 7(a) loans, credit cards, collection services, risk management services, and point-of-sale financing with a focus in patient lending.
• Balances convert into an installment plan • Accepted by millions of merchants • More responsible than typical credit cards
We market, originate, process, underwrite and fund these loans making it quick and easy for our bank partners to come online and purchase high yielding assets with a few clicks. Thanks to our phenomenal credit supplements, to date our community bank partners have never sustained a single dollar loss on our core loan program. Visit www.bhgloanhub/Keith or contact Keith Gruebele at kgruebele@bhg-inc.com or 954-263-6399 to learn why over 1200 Community Banks chose to partner with BHG.
Credit Health:
Keith Gruebele, kgruebele@bhg-inc.com, bankershealthcaregroup.com
Card:
• Credit Education and Monitoring • Engaged Users (25% visit monthly) • Users show better credit performance
Deposits: • As of Q4 2020, deposits are available to be swept to loan buying bank/credit union partners in exchange for loan purchases Robust compliance, vendor management and legal/regulatory teams for fast and flawless onboarding
Nik Vukovich, nvukovich@upgrade.com, upgrade.com 18 The bottom line
Onovative, an automated marketing and communication software provider, put controls back in the hands of bank marketers. Onovative’s affordable marketing software for planning, automation and execution empowers you to manage data for strategizing throughout the consumer lifecycle and engage with consumers through multiple channels. With software that integrates directly with your existing core banking systems, Onovative helps banks drive results by bolstering growth with their current account holders and within their markets.
Cynthia Glover, cglover@mainstreetinc.com, onovativebanking.com
ICBSD 2021 19
In
Memory Ronald “Ron” E. Troske F e b r u a r y 1 9 , 1 9 3 4 ~ D e c e mb e r 9 , 2 0 2 0 ( a g e 8 6 )
Ron Troske was a great man. That’s not to say he was without fault, but the legacy he leaves through his love for his family and his community as well as his ceaseless generosity overshadow even the most human shortcomings. The framework of his life — he was the eighth child born Feb. 19, 1934, to hardscrabble farmer and banker Frank Troske and his hilarious Irish wife Lucy — provide a glimpse into who he was. His childhood was spent working on the family farm during one of the hardest economic times in the country’s history, yet the lessons Ron learned about hard work and perseverance would serve him well throughout his life. Like so many young men of that time, Ron entered the Navy after graduating from high school and returned home early from Korea due to a medical issue. His return allowed him to marry the great love of his life — Patricia Dunn — in September 1954 and together they made their home in Turton where Ron worked for his father in the Farmers State Bank (after being trained in by his wife, Pat, who’d already been working for Frank). They welcomed the first of five children, son Michael, in 1957, with two more sons, Monte and Mark, and two daughters, Jeannine and Julie, to follow. Within that framework are the details of a life spent loving the people around him, even strangers, enjoying opportunities afforded by building a successful business, and giving back generously to the community and those less fortunate than him. Indeed, there was no cause too small for Ron to care about. As a young father, Ron loved sports like basketball and baseball and being outside, especially at the lake in the summer, first at Enemy Swim with extended family and then Kampeska in 20 The bottom line
Watertown. He inherited his mother’s sense of humor, evident in his joking nature and an infectious giggle that could bring a smile to even the most serious of faces. One of Ron’s greatest legacies is the Farmers State Bank, which he bought in 1971 and built through the remaining decades before retiring in 1996 to enjoy his golden years. But his business legacy extends far beyond the numbers and loans and dollars and cents of the bank; to quote Charles Dickens, Ron’s business was mankind; charity, mercy, forbearance, and benevolence were his business. Ron looked for the best in people — both in the customers he served and especially in the people he hired to work for him. Countless times he approached people who declared they knew nothing about banking, and Ron would tell them that didn’t matter — banking could be taught, but common decency and respect for others could not, and Ron had only the most wonderful people work for him. As his health declined in the past several years, Ron retained his trademark stubbornness and love for his bride. Even when he didn’t always recognize those who came to visit him in his last months, Ron still showed how much he loved them with a sweet smile or gentle squeeze of their hand. His death from COVID on Dec. 9, 2020, is the final chapter of a life well lived, but he will always be remembered more for the great man he was than the sadness of his struggle to leave this earth peacefully. Ron was reunited in heaven with his beloved son, Michael, parents Frank and Lucy, brother Irvin Troske, and sisters Eleanor Lien, Murle Breen, Irene Zipf, and Annabelle Vogel, all of whom no doubt waited at St. Peter’s gate with an enveloping hug and enormous kiss on his cheeks.
Grateful forever to have shared his life are his bride of 66 years, Pat, his children, Monte (JoAnn) Troske, Jeannine Troske, Julie (Pat) Schneider, and Mark (Kim) Troske; his grandchildren, Kayla (Justin) Ohleen, Danielle (Kevin) Teigen, Elizabeth (Brian) Massmann, Derek Schmidt, Mike (Ashley) Schmidt, Caycee, Jadyn, and Gavin Schneider, and Katie and Megan Troske, as well as six great grandchildren who will know how great of a man Ron was through the stories his family will tell for years to come. Other family members who will continue to share stories about Ron include his brothers, Bob (Nina) Troske, LeRoy (Bev) Troske, Gary (Joanne) Troske, and Frank (Bobby) Troske, as well
as many nieces, nephews and extended family who knew and loved him. Ron will be buried at St. Joseph’s Catholic Cemetery in Turton, and his life will be marked by his birth date and death date, with a small dash between those events, but to quote Linda Ellis’s famous poem, “those who loved (him) know what that little line is worth, for it matters not how much we own, the cars, the house, the cash. What matters is how we live and love and how we spend our dash.” Ron Troske was a great man who spent his dash in the best way possible: loving.
John R. Beyers O c t ob e r 2 6 , 1 9 4 5 ~ M a r ch 4 , 2 0 2 1 ( a g e 7 6 )
John Raymond Beyers was born to Raymond and Ruth (Roesch) Beyers on October 26, 1945 in Aberdeen, SD. He was raised on a farm south of Beebe and attended an elementary country school there. He got his high school education in Ipswich and Roscoe, SD. After graduation in 1963, he attended National College of Business in Rapid City for one year at which time he started work at First State Bank of Roscoe for the Johnson family. During his early years at the bank he also farmed with his father and later on his own. In 1997, he purchased the bank from the Johnson family and his sons took over the farming. He added a branch bank in Bowdle, SD in 1999 and in Eureka, SD in 2016. John’s banking passion was getting people started in farming and small business and being there when they needed help. He was a champion of the town of Roscoe and surrounding local communities. He truly loved people and making personal connections. When meeting a new acquaintance, he would figure out some way they were tied to someone else he knew; then tell a story about that person. In July of 1965, he married Patty Ulmer in Hosmer. They resided in Roscoe for five years before purchasing a farm south and east of Roscoe where they lived for 20 years and raised four of their seven children. In 1990 they purchased a parcel of land ½ mile south of Roscoe where they began building a house and a farm site and lived with their three younger children, frequently hosting an extra person or two around the dinner table. This is
where John lived until his death, continuing to enjoy company, especially grandchildren visits. John was a life-long member of St. Paul’s Lutheran Church in Roscoe. His hobby was his work. He loved buying meals for others in small town restaurants and spending time behind the wheel of his suburban, his bank minivan, and then his Ford Flex. After he retired from farming, he kept tabs on his children’s farming and business ventures and volunteered to give rides to the fields whenever possible. In later years, summer evenings were spent in his Ranger with his younger grandkids checking out the streets in Roscoe, while his older grandchildren received Sunday night check-in phone calls from Grandpa John. He had struggled with lung cancer since 2014. He died on March 4, 2021 at Avera St. Luke’s Hospital in Aberdeen with his wife and seven children at his side. He is survived by and will be greatly missed by Patty, his wife of 55 years; daughter Mary Beyers (Pat Gauer) of Aberdeen; son, Allen (Margy) of Roscoe; daughter, Emily Kadlec (Gerard) of Ipswich; son, Dennis (Andrea) of Roscoe; son, Evan (Amanda) of Aberdeen; son, Brian (Sandra) of Roscoe and son, James (Carrie Paplow) of Roscoe. He will be greatly missed by 19 grandsons, three granddaughters and five great grandchildren. Also surviving him are brother, Robert Beyers of Rapid City; brother, Mark (Carla) of Roscoe; and sister, Patty Kalmes, (Tim) of Mina, SD and one uncle, Melvin (Julie) Roesch of Roscoe. ICBSD 2021 21
IT’S TIME to
CELEBRATE Join us in congratulating our fellow community bankers on their recent accomplishments! featuring.... • CorTrust Bank • American Bank & Trust • Plains Commerce Bank • First Fidelity Bank • First National Bank • Dacotah Bank send your happenings to:
hannah@icbsd.com
22 The bottom line
CorTrust Bank The CorTrust Bank team in Glencoe made a $1,000 donation to the Glencoe Fire Department. These funds will be utilized to purchase illuminated signs when the trucks are out, ensuring people can see them easier.
American Bank & Trust Through American Bank & Trust’s Spirit Card program, their bank is proud to make a positive and lasting financial impact on school districts. AB&T is awarding over $21,000 to 8 schools in South Dakota! The Huron School District received a check for $5,026.62. These funds will be used to help purchase several items including ball chairs and wobble stools for elementary classrooms, rewards
First Fidelity Bank
Plains Commerce Bank Plains Commerce Bank gifted a new van to South Dakota non-profit Almost Home Canine Rescue. Thanks to their generosity, volunteers can continue to safely and reliably transport homeless dogs to safety.
First National Bank Robin Reiners is the first-ever recipient of the First National Bank Eagle of the Year award! FNB created this award to recognize teammates who have a desire to explore, grow, and consistently soar to new heights for themselves, their teams/families, and our communities. Anyone who has worked with Robin will tell you she embodies all of those qualities and more! Along with this great award, the bank will make a $1,000 charitable donation in Robin’s name to a non-profit of her choice.
that will be used during March Madness Reading Challenge at Washington Elementary and supplies for the Destination Imagination program. Funds given to the Miller School District will be used to help purchase Flex-Space floor seats, books for individual classroom libraries, equipment for the school’s weight room and novels for the junior high.
Dacotah Bank Dacotah Bank pledged to match up to $50,000 in donations for those affected by the Windy Fire on January 14th and 15th, 2021. Garrett Schweitzer, Market President said “Our area farmers and ranchers will be feeling the impact of this disaster for years to come. We felt it was important to support our community and do what we can to help. We cannot thank the local fire departments, the Lemmon Chamber of Commerce and the community enough for the support and quick actions they have taken to support those affected by the Windy Fire.” ICBSD 2021 23
SHAZAM ACQUIRES DIGITAL FILING SOLUTIONS, ADDS FILEX SOLUTION TO ENHANCE CORE PRODUCT SUITE DES MOINES, Iowa (Mar. 2, 2021) — SHAZAM, Inc., a nationwide provider of financial services to community financial institutions, announced it acquired software company Digital Filing Solutions (DFS), developer of FileX, an all-in-one software solution providing document imaging and management. The integration of FileX will enhance SHAZAM’s full suite of core products and services. FileX can be securely accessed on any device, anytime and anywhere, allowing clients to remain productive, work securely and collaborate with other team members. The FileX software is used by organizations in multiple industries, from banking and investments to education and healthcare, to provide seamless access to digital documents, document imaging, workflow automation and e-form processing. “The DFS team has years of expertise in this space and we’re excited about our acquisition as we continue to expand our position as a full service provider,” said SHAZAM President and CEO Paul Waltz. “In addition to adding FileX to SHAZAM’s full suite of products and services, we’ll continue to support the education and healthcare industries that run the FileX solution today.” 24 The bottom line
“After many years of working with the experts at DFS, we are excited to expand our product offerings and boost the powerful capabilities of FileX by integrating it into our suite of core products,” continued Kelli Landry, SHAZAM product manager. “Many of our core banking clients rely on the efficiency that comes with seamlessly and securely capturing, storing and retrieving digital documents. FileX consistently exceeds those expectations. The solution will become a standard component of the SHAZAM core, but will also be available as a standalone solution.”
ABOUT SHAZAM SHAZAM pioneered the PIN-debit point-of-sale transaction, still used worldwide today. We’re the only nationwide independent, member-owned debit network, processor and core provider supporting community banks and credit unions. Since we don’t answer to shareholders, we can reinvest profits in technologies our clients need as they serve the next generation of consumers. SHAZAM ensures our clients have the products and services they demand and expect in a cost-effective way. Founded in 1976 and headquartered in Iowa, we’re a leader in payments and financial technology, with a simple mission: Strengthening community financial institutions. Visit us today at shazam.net.
Sherri Kelley Named BankWest’s President of Community Banking PIERRE – Sherri Kelley has been named BankWest’s President of Community Banking, a position which oversees the banking operations of the company. Kelley has served in various positions with BankWest over an 18 year period, most recently as Senior Vice President of Retail and Mortgage Services. “We are very fortunate to have Sherri in this role,” said BankWest Chairman, President & CEO Charles H. Burke III. “She truly understands the values of our community bank and has a wealth of experience and knowledge in the banking industry.” Kelley grew up in Pierre and has worked in the banking industry for 37 years. In her spare time, she enjoys gardening, grilling and watching professional football. She has one daughter who is currently in her second year of law school in Nebraska. “I’m proud to be a part of an organization with such an extensive history in South Dakota,” Kelley said. “For well over 100 years, BankWest has provided customers with products, services and advice to achieve financial success, while also investing in our communities’ continued success.” With Kelley managing banking operations, Charles H. Burke III remains the CEO and President of BankWest and continues to actively manage BankWest’s overall operations including strategic oversight of the organization.
Maci Fessler Joins BankWest as Business Development Officer in Onida ONIDA – BankWest is pleased to announce the addition of Mitchell native Maci Fessler as a Business Development Officer at its Onida branch. President of the Onida branch Mike Yackley notes Fessler’s experience will make her an essential part of the BankWest team. Prior to joining BankWest, Maci served in the financial services sector for three years. “We are very grateful to have Maci join the BankWest team,” Yackley noted. “She will be an asset to the local community, providing exceptional customer service and a wide range of financial services to Onida area businesses and ag producers.” When she isn’t working, Maci loves to bake, cook, and spend time with her children. “I look forward to finding the best solutions for my customers’ needs and helping them achieve their financial goals,” said Fessler. “I appreciate that BankWest is committed to making their communities thrive by supporting local projects and causes both financially and through volunteerism. That’s really what community banking is all about.” Fessler’s office is located at 101 Main Street in Onida.
BankWest is a full-service, independent community bank with 17 branches in 14 South Dakota communities including: Armour, Delmont, Geddes, Gregory, Kadoka, Kennebec, Madison, Mitchell, Onida, Pierre, Rapid City, Selby, Tripp and Winner. It also has stand-alone insurance offices in Murdo, Philip, Platte, Presho, Rapid City, Salem and Spearfish.
ICBSD 2020 2021 25
Do’s, Don’ts, and Maybes A set of simple rules to streamline portfolio management in 2021 If my recent aggregate conversations with investment managers are an indication, there is still a lot of seat-of-the-pants decision making going on out there when it comes to portfolio strategies. And I hasten to add this is not a criticism; it’s merely an observation. Why should we expect anything else? Banks are still sitting on a lot of cash. The bond market is giving mixed signals with short rates being anchored at near-zero levels while the Treasury yield curve is its steepest in three years. Bond portfolios still have substantial unharvested gains, and net interest margins are at record lows. PPP 2.0 has been launched, as a new wave of fiscal stimulus is about to be unleashed on consumers and governments. Given this bewildering set of variables, perhaps we can create a (relatively) simple set
BY JIM REBER
of ground rules that portfolio managers can refer to while trying to make sense of it
President and CEO of ICBA Securities
as every community bank has its own risk/size/earnings/ownership profiles. But here
all. I would like to emphasize that “maybe” is the unspoken theme to these guidelines, goes:
Do: Stay invested. Cash yields zero, and will remain there for the remainder of the year, at least. A simple bond that yields even 50 basis points (.50%) will probably produce a spread to your cost of funds, and will provide collateral for pledging purposes. An example of a bond that yields 0.50% is a callable agency with a five-year maturity, and one year of call protection (“5/1 callable”).
Don’t: Keep buying the same old bonds just because. In just the last three years, community bank portfolios have changed tenor significantly. You know that banks own fewer tax-free securities since tax rates were cut in 2017, but did you know that both general market munis, and taxable munis, have picked up the slack? The other big “new” bond sector is multifamily mortgage-backed securities (MBS), which follows… 26 The bottom line
Do: Take action to normalize your bond portfolio’s cash flow. As low as returns (and spreads) are, the cost of eliminating optionality is an all-time low. Case in point: a five-year noncallable agency (aka “bullet”) yields about 0.47%, which means an investor surrenders three measly basis points to remove all cash flow uncertainty. In a different sector, MBS, a similar set of dynamics is at play. You’ve read in this column recently that “prepayment friction” pools which consist of low balance loans can slow down refinance activity. The same outcomes can be achieved with “yield maintenance” provisions on multifamily MBS.
Don’t:
ICBA Securities’ exclusively endorsed broker, Vining Sparks, is one of the largest SBA 7(a) poolers in the country. Vining Sparks is interested in purchasing guaranteed portions of SBA loans directly from your community bank. To inquire about selling SBA guarantees, and to view its inventory of fixed- and floating-rate SBA pools, contact your Vining Sparks sales rep or
www.viningsparks.com
Worry (too much) about rates rising to the point that your collection of bonds is underwater from a market price standpoint. If your community bank is typical, it will benefit from a general rise in rates. For one thing, since banks own a whole lot of bonds at prices above par, interest rate increases will cause the current bonds’ yields to improve. For another, the rest of your bank’s earning assets will pretty quickly show some improvement, whether the loan portfolio consists of floaters or shorter-duration fixed rate credits. Community banks’ asset/ liability positions are built for rising rates.
Do: Stay on top of your portfolio’s effective duration, to put your mind at ease about all of the above. We have seen this important barometer of price risk really whipsaw over the last year. At last look, most portfolios had returned to their prepandemic durations of around 3.0 years, but that’s taken a lot of buying of a lot of longer-maturity bonds to get there. In mid2020, they had shrunk, on average, to about 2.5 years. That’s a 20% increase in two quarters.
2021 ICBA Bond Academy announced April 19-22 ICBA Securities and its exclusively endorsed
Maybe: Invest in some bond education for your staff and you. As the economy (and travel) begins to open back up, there will be a whole range of investment school options available, some virtual, some live, some hybrid. There is also plenty of archival information that’s been accumulated over the last year as trade associations, brokers-dealers and consultants have figured out digital delivery channels. So ask around your providers for offerings that may suit your needs. And by all means, do continue your due diligence and documentation of your actions. Investment portfolios have grown remarkably in the last year. They are likely to be a substantial driver of bank profits for the foreseeable future.
broker Vining Sparks will present the ICBA Bond Academy this spring. This virtual program, scheduled for April 19-22, is designed for the entry-level portfolio manager. Attendees will learn the fundamentals of fixed-income products and strategies. Up to eight hours of CPE credit are offered. For more information visit www.icbasecurities.com.
ICBSD 2021 27
Thursday
May 27, 2021 10AM - 4PM
Virtual Midwest Ag Conference Co-hosted with Community Bankers of Iowa
Topics of Discussion:
Panel Discussion with Iowa Secretary of Agriculture Mike Naig and US Secretary of Agriculture Tom Vilsack, World Trade Agreements, US Agriculture Economic Update and more! $ 1 2 5 I C B SD M e m b e r s
\\
$ 2 5 0 I C B SD N o n m e m b e r s
Registration details will be arriving in your inbox soon!
28 The bottom line
Our Preferred Partner program... is designed to foster mutually beneficial relationships between top-notch businesses and our members. Show your support by doing business with the following preferred partners who support our association!
preferred Partners
CyberSecurity
P.O. Box 615, Watertown, SD 57201 605.878.3040
www.icbsd.com
