Check Date - 12/29/15
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Larger Payroll1 - OS PR1 Time Clock 100236 - Automation - D Wyatt - PFM 500 EE
Edit Paygrid
Estimated Liability
Run Pre-Post Journal
Employees
$ 483 Employees Paid
Net Cash
$358,817.83
Employee Tax Liability
$122.632.76
11
Employer Tax Liability
$43,376.55
7
$524,827.14
12
Total Cash Requirement
Submit Payrun
Check Summary
482
Employee Checks
Employees Not Paid
1
Manual Checks
New Hires
0
Third Party Sick Pay
With Pay Related Changes
0
Voided Checks
Liability Summary
Cash Requirements
Net Cash
Employee Tax Liability
POC Checks
Employer Tax Liability
$6,297.39
Partial Direct Deposit
$50.09
Net Direct Deposit
$351,857.35
POC Manual/Void Checks
$461.28
Third Party Sick Payments
$0.00
POC Payables E - Payables Total
Social Security - Employee
$33,290.69
Medicare - Employee
$7,785.92
Social Security - Employer
$67,262.34
Federal Unemployment
$151.72
State Withholding
$14,175.20
State Unemployment
$0.00
Local Withholding
$118.61
$358,817.83
Total
$33,290.69
Medicare - Employer
Federal Income Tax
$7,785.92 $2,128.13 $171.81
Worker’s Compensation
$122,632.76
$0.00 Total
$43,376.55
Deductions Not Taken
Paygroup Totals - All Departments
Payroll. HR. Time. Onboarding. To help community banks enhance their portfolio of services, The Bankers’ Bank of Kentucky partners with Paycor to offer intuitive HR and payroll solutions customized to fit your clients’ business needs.
Payroll & Time
Human Resources
Onboarding
Additional Services
º Payroll & tax filing
º Employee handbooks
º Employee self-service
º Workers’ compensation
º Online check stubs
º HR best practices
º Compliance documentation
º Tax credit services
º Employee mobile access
º HR advice & guidance
º Upload company documents
º Custom reports
º Time management
º Employment screening
º Electronic acknowledgement
º Attendance tracking
º Benefits management
º Time clock devices
º Applicant tracking
For more information, contact The Bankers’ Bank of Kentucky:
Lynn Ellis, lellis@bbky.com David Fletcher, dfletcher@bbky.com Todd Beers, tbeers@bbky.com Shawn O’Keefe, sokeefe@bbky.com To learn more about Paycor, visit www.bbky.com/paycor
KBA OFFICERS 2015-2016 Chairman Mr. Louis Prichard Kentucky Bank Vice Chairman Mr. Michael H. Mercer First State Bank Treasurer Mr. Timothy E. Barnes Hometown Bank of Corbin Past Chairman Mr. H. Lytle Thomas Heritage Bank, Inc.
BOARD OF DIRECTORS Mr. Bill Allen
Bank of the Bluegrass and Trust Co.
Mr. William Alverson Traditional Bank, Inc. Mr. James W. Beach Peoples Bank & Trust Co. Mr. J. Wade Berry Farmers Bank & Trust Mr. W. Fred Brashear, II Hyden Citizens Bank Mrs. Lanie W. Gardner First Southern National Bank Mr. Gordon Kidd United Cumberland Bank Mr. Glenn Meyers
Citizens Federal Savings & Loan Assoc.
Mr. Michael Mineer Citizens Deposit Bank & Trust
Our Mission Statement
Our Commonwealth
The purpose of the Kentucky Bankers Association is to provide effective advocacy for the financial services industry both in Kentucky and on a national level; to serve as a reliable and responsive source of information and education about areas of interest to the industry; and to provide a catalyst and forum for collective industry action.
The KBA is a nonprofit trade association that has been providing legislative, legal, compliance and educational services to its member institutions since 1891. The KBA’s directors and staff work together with its members to make the financial services industry a more effective and successful place to work. The strength of the KBA is bankers unifying as an industry to speak as one voice.
Together We Make A Difference
The KBA does this in four ways: 1. Government relations & industry advocacy 2. Information interchange 3. Education 4. Products and services
One Voice Unifying Kentucky
MAGAZINE
Kentucky Banker Magazine (KBM) is the official monthly periodical of the Kentucky Bankers Association (KBA). No part of KBM may be reproduced without written permission from the KBA. The KBA is not responsible for opinions expressed by outside contributors of articles published in KBM.
Mr. Dale Sights Field & Main Bank
SUBMIT/SUBSCRIBE CONTACT Josh Fischer, Managing Editor email jfischer@kybanks.com
Mr. Thomas J. Smith, III American Bank & Trust Co., Inc.
ADVERTISE/SPONSOR CONTACT Angie White, Assistant Editor email awhite@kybanks.com
Mr. Ryan Curtis Steger Town Square Bank Mr. John T. Taylor PBI Bank Mr. Jed Weinberg Bank of Hindman
*EDITORIAL NOTE: Bank Happenings and Bankers on the Move listings will return in the next issue of Kentucky Banker Magazine; September/October 2016.
<<< Cover Inspiration See the full cover wrap picture on pages 62-63 >>>
Paula Cross Education Services Coordinator pcross@kybanks.com Jamie Hampton Education Services Coordinator jhampton@kybanks.com Natalie Kaelin Assistant General Counsel nkaelin@kybanks.com
25 years 18 years 4 years 3 years
27 years
John P. Cooper Legislative Solutions jcooper@kybanks.com
18 years
17 years
Miriam Cole Executive Assistant mcole@kybanks.com
Steve Whitlow Systems Engineer swhitlow@kybanks.com
8 years
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Billie Wade Executive Director, HOPE of KY bwade@kybanks.com
Angie White Sponsorship Relations awhite@kybanks.com
Chuck Maggard President & CEO, KenBanc cmaggard@kybanks.com
4 years
1 year
Josh Fischer Director of Communications jfischer@kybanks.com
Katie Rajchel Staff Accountant krajchel@kybanks.com
4 years
30 years
Paula B. Cravens Sturgeon Director of Education Solutions pcravens@kybanks.com
Tammy Nichols Convention Coordinator Finance Officer, HOPE of KY tnichols@kybanks.com
Lisa Mattingly Director of Sales & Service KBA Benefits Solutions lmattingly@kybanks.com Brandon Maggard Account Representative KenBanc Insurance Services bmaggard@kybanks.com
3 years
26 years
Selina O. Parrish Director of Vendor Solutions sparrish@kybanks.com
Michelle Madison IT Manager mmadison@kybanks.com
Donna McCartin Benefit Support Specialist dmccartin@kybanks.com
26 years
30 years 20 years 15 years
Matthew E. Vance Chief Financial Officer mvance@kybanks.com
5 years
Debra K. Stamper EVP & General Counsel dstamper@kybanks.com
22 years
Ballard W. Cassady Jr. President & CEO bcassady@kybanks.com
6 years
Bulletin of the Kentucky Bankers Association
Your KBA Staff
22 employees serving our members, with a combined total of 317 years of experience!
Audrey Whitaker Insurance Services Coordinator awhitaker@kybanks.com
Kentucky Banker Magazine Special 125th Anniversary Edition | PAGE 4
A Brief History of Banking in Kentucky Kentucky banks have a history of minding their customers’ money as if it were their own.
The Kentucky Bankers Association is celebrating its 125th anniversary. That is quite an accomplishment and I am proud beyond words to serve as the Chairman of the KBA Board during this mile marker. However, reflecting on the history of banking, you have to wonder why the banks in Kentucky felt it was necessary in 1891 to establish a formal association, especially since Kentucky banks had existed since 1802 (each as separately approved by the legislature at that time), and banking in some official capacity had been in place in the United States since 1782, with private financial purveyors existing throughout history. FIRST OFFICIAL BANK IN KENTUCKY The first official Bank of Kentucky, endorsed by Henry Clay, was chartered on December 27, 1806 by the Kentucky General Assembly. Half of the stock was owned by the state government. It was in place until 1819 when, faced with disruption from the Panic of that same year, the charter was officially voided by the legislature in 1822.
to convince them to switch to national charters. And, of course, during this time period other banks were approved as well. HISTORY DOES REPEAT ITSELF So, while none of that tells me what the tipping point was for organizing the KBA, it does reaffirm that, in fact, history does repeat itself. When considering things like Federal legislation, shadow banking industries, uneven competitive foundations, greed, and panic, I think the story above could be told today with the dates much closer together. THAT IS SOME HISTORY
Kentucky banks, “traditional banks,” have been around for a long time. Our longest running bank still in existence today, Bank of Maysville, was established in 1835. Kentucky Bank, for which I work, can trace its tributaries to 1851. There are two banks, Bedford Loan & Deposit Bank and The Commercial Bank of Grayson, which share 1891 with the KBA as their BLUEGRASS BANKS CLOSE THEIR DOORS 125th anniversary. There are 40 banks in Kentucky today that were chartered before 1900. That is quite an At the same time, the legislature passed laws limiting impressive history. the activities of the existing private “banks.” These limits, and the accompanying regulatory burden, caused KENTUCKY BANKS ARE COMMITTED all banks in Kentucky to close their doors by 1830. The Bank of the United States offered the only exchange Despite all of the challenges, despite the booms and of currency until it closed its doors in 1832. From busts of the economy, despite the disruptions of war 1832 until the 1860’s only state banks were chartered. and the calm of peace, Kentucky banks must know what they are doing. Kentucky banks have a history ANOTHER BANK OF KENTUCKY of safe and sound operations. They have a history of taking the conservative approach to banking services. Because of the unsettled nature of financial transac- Kentucky banks have a history of minding their custions and the uncertainty of the currency being used, tomers’ money as if it were their own. Kentucky banks the General Assembly created another official Bank of have been committed to their communities, customKentucky in 1834. Other private banks rode on the ers, employees, and shareholders. Kentucky banks coattails (and success) of this Bank of Kentucky and, have been committed to doing the right things. despite some of the struggles and questionable dealings of the private banks, it thrived. That lengthy suc- As we celebrate our 125th Anniversary as an Associacess, however, was tempered in the 1860’s when Con- tion, we can accurately and proudly say we are “Built gress took steps toward taxing state banks in an effort on Tradition, Focused on the Future.” PAGE 5 | Kentucky Banker Magazine Special 125th Anniversary Edition
Bulletin of the Kentucky Bankers Association
Chairman’s Corner 125 by Louis Prichard, KBA chairman
WE AT KENTUCKY BANK ASK ALL OUR MEMBERS TO JOIN US IN CELEBRATING THE KBAâ&#x20AC;&#x2122;S
125 YEARS
OF LEADERSHIP AND SUCCESS.
LOUIS PRICHARD
Kentucky Bank President KBA Chair
800-467-1939 | KYBANK.COM
One Hundred and Twenty Five Years
I think (the KBA’s founders) would be proud to see their Association continues to exist solely for Kentucky bankers, in an era in which too many institutions have come to exist primarily for themselves. Certain anniversaries compel a little extra reflection and special celebration, whether it’s of a marriage or other personal event or the founding of an association or organization, like the Kentucky Bankers Association. In the midst of racing from one problem to the next in these perilous times, we could have failed to give the KBA’s 125th anniversary its due celebration. But, we believe that celebration, well-deserved, is more necessary in times like these. Our member banks certainly deserve it — this anniversary will be a source of perspective, gratitude and affirmation for every Kentucky banker, and for your dedication to the KBA and it’s success.
KBA founders surely wouldn’t be surprised to see moThe KBA was formed only 26 years after the Civil War, ments of conflict among our members over the past in a nation still fighting to recover economically and 125 years – the tough compromises and occasional to heal deep wounds more bitter than any we know stumbles along the way, but they would recognize today. Imagine the environment that drove a group of those as the exceptions and not the rule. bankers in 1891 to consider the power of unity – and the risks they face of it isn’t accomplished. Ultimately, the story of our history is one of an industry that finds clarity and unity in its darkest hours Imagine the terrible lessons that inspired them to cre- through the Associations created with that great hope. ate a forum for resolving differences that threatened We look forward to sharing more of that powerful and their unity, for sharing best practices and moral sup- inspiring story when we gather for our 125th annual port. Imagine their deliberations on the heavy finan- convention. cial and manpower costs of providing essential training for bank staff or steering our industry through deep political waters. Theirs was a generation that forged much wisdom from their suffering. From that The Breakers, Palm Beach, FL discord the KBA was born, an idea among people of like minds – visionaries who could foresee banking’s challenges into the next century and beyond. I wonder how they would judge what has been accomplished from and through their vision. I hope they would agree that we’ve adapted to change, that we’ve preserved financial self-sufficiency, and that we won’t back down from the battles that must be waged. Most of all, I think they would be proud to see their Association continues to exist solely for Kentucky bankers, in an era in which too many institutions have come to exist primarily for themselves.
2016 KBA Annual Convention
PAGE 7 | Kentucky Banker Magazine Special 125th Anniversary Edition
Bulletin of the Kentucky Bankers Association
Straight Talk 125 by Ballard Cassady, KBA president & ceo
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Celebrating a True Kentucky Banker After an unprecedented 25 year run of leadership, all of us at Heritage Bank would like to thank our beloved founder and Chairman, Arnold E. Caddell, for his visionary leadership, tireless efforts, and the enormous emotional investment he placed, not just in the bank itself, but in every member of our Heritage family and their families. Arnold founded Heritage Bank in 1990 at a time when there were few to no community banks left in Northern Kentucky and has faithfully devoted these last 25 years of his life to building Heritage Bank into a financial institution dedicated not only to serving the financial needs of our customers, but fostering personal lifetime relationships with a vast majority of people that he does business with. He created a work environment dominated by deep care for each and every person that worked for the bank. His son, Chris Caddell, who will be succeeding Arnold in his role as Chairman, had this to say about his father, “It has been a gift for me to work side by side with my Dad the past twenty years, affording me the luxury of learning the community banking business from the ground up. I have the deepest love & respect for my father and realized years ago that any business acumen and authentic care for people that I possess came from him. I am grateful beyond words and thank God for what I’m convinced to be a once in a lifetime occurrence in sharing the Heritage Bank experience with my role model and mentor, Arnold Caddell.” Heritage Bank Director Gary Griesser adds, “Arnold Caddell has always been an example to us as we have founded and grown Heritage Bank. He has led us through a phenomenal experience for the last twenty five years, and is now showing us how to successfully transition what we have built.”
Arnold E. Caddell All of us at Heritage would like to congratulate Arnold on his remarkable accomplishments and thank him for showing us all what true, thoughtful leadership looks like.
GROW
your future WITH US For over 25 years, Heritage Bank has been privileged to help grow the opportunities, dreams, and futures for some of Kentucky’s finest people. We Have Our Roots Where Others Have Their Branches
www.heritagebank-ky.com
Bulletin of the Kentucky Bankers Association
by Debra Stamper, Executive Vice President and General Counsel
My Two Cents
125 Kentucky Banks: A History of Strength The KBA is 125 years old. How about that? I can’t even imagine how overwhelmed Kentucky bankers felt in 1891. We think times are hard now, but think about the issues facing generations of bankers before us. When bankers in Kentucky decided to form an alliance through the establishment of the Kentucky Bankers Association, they were facing regular violent robberies both at the bank and at the point of cash transportation. Bankers saw the invention of electricity and had to wonder if it was just a trend that would run its course or a real game changer with which they had to keep up. They suffered through hard times and economic depressions that totally destroyed communities and left people hopeless. Bankers faced cutthroat competition which were actually created and designed through legislation to compete with less, or different, regulatory restrictions. Bankers during that period were also facing a major shift in the very foundation of banking in the U.S. — as we were moving from independent banks (some with their own currency) to the creation of an interconnected and regulated Federal and state banking systems. SOUNDS EERILY FAMILIAR, DOESN’T IT? Fast forward to the 1920’s — Banking and investing had become a very lucrative business. Wall Street was driving the economy. People and banks began “betting” on the stock market, which many believed could only go up in value. Investments were made on speculation, with money that the investors (individual or institutional) did not have. Then the inevitable happened. The market crashed and the economy tanked. There were runs on banks all across the U.S. As a result, the FDIC was created in the 1930’s to help build back confidence in the banking system. Sounds eerily familiar, doesn’t it? By the 1950’s banking was entering the wild world of automation. Manual processes were being replaced with mechanical wonders, like the electronic posting
Plus $1.23—you can’t even buy a cup of Starbucks coffee with that!
machine, MICR technology and computer systems as big as a house. Checking accounts came with a free toaster. Credit ledgers in various retailers were being replaced by credit cards — some could even be used at multiple locations. Mortgages were not just a product for the rich, but became part of our expectations. Savings and loan associations were created after the stock market crash as the safest way for families to build their own American Dream. NEW NIGHTMARE, RECORD FAILURES Then the nightmare happened, in the 1970’s and into the 1980’s. The U.S. economy was threatened by unexpected challenges — increase in international trade, high energy costs and productivity challenges at domestic companies. The U.S. dollar was losing value and the country was in stagflation. Conflict and chaos seemed to be the norm of the day. Intervention by the Federal government helped to artificially bolster the economy for a while, but a gap eventually was exposed and the banking industry saw record failures, especially in the numbers of thrifts and smaller banks which had taken on unhealthy risk and exposure. A PERIOD OF BOUNTY Rebounding from that disastrous period, we saw one of the strongest periods of growth in our history. The U.S. recovered its position as an economic power and the stock market reflected the strength that resulted. This period of bounty resulted in less farming and manufacturing jobs and more service and technology related jobs. Banks began to offer more and varied products. The theme of the day was convenience and speed. Business was booming and everyone wanted a piece of it. Wall Street and non-bank mortgage companies took risks – risks that cost us all - which resulted in the housing crisis of 2008, government intervention and widespread failures in the industry. When you boil U.S. banking history down to generational headlines, it could appear pretty bleak. continued on the next page Kentucky Banker Magazine Special 125th Anniversary Edition | PAGE 10
My Two Cents
BUT OUR STORY ISN’T BLEAK Kentucky banking and Kentucky banks are different than most. Despite all of the turbulent times that the banking industry as a whole experienced, Kentucky banks always remained strong and steady. Kentucky banks weren’t and aren’t as quick to jump on the latest trends and innovations, which has resulted in criticism by some during the booms, but it is exactly that conservative and thoughtful approach which has protected us during the busts. In each of the bank failure spikes (during the Depression, the S&L crisis and the 2008 Great Recession), Kentucky withstood very low numbers of failures. CONTINUOUS HISTORY OF STRENGTH Kentucky banks stand on a continuous history of strength and it is borne out in the data: • More than 50% of our banks have been in continuous operation for more than 100 years. • Kentucky’s oldest bank has been in operation since 1835. • The FDIC, the DFI and other regulators rank Kentucky banks with the best in the U.S. • Kentucky banks are community banks, with community spirit. TWO DECADES OF SERVICE I have been with the Kentucky Bankers Association for 20 years—this year is my anniversary as well. During this time I have learned so much about the heart and soul of Kentucky bankers. In celebration of the 125th Anniversary of the collective whole of our Commonwealth’s banking industry, I offer up this countdown of things I have learned about Kentucky bankers. Because of page limitations, I will refrain from listing 125 things — instead only 12, one for each decade. It would be easy to list 125, but here are a dozen of the greatest hits! PAGE 11 | Kentucky Banker Magazine Special 125th Anniversary Edition
ABOUT KENTUCKY BANKERS 12 Kentucky bank names are chock full of
Citizen, First, Peoples, and Farmers. It makes for some occasional embarrassing reference errors.
11 Kentucky bankers know how to have fun, with Halloween costume contests, main street festivals and other celebrations. 10 Kentucky bankers know the value of food—they have cookies in the lobby and are quick to invite you to join in for a pot luck or a meal at a local restaurant. 9 Kentucky bankers recognize that financial
products don’t have to be flashy to be good.
8 Kentucky banking is a family business and Kentucky’s banking family does not have to be related by blood. 7
Kentucky bankers really know their customers—financial statements don’t tell them anything they don’t already know.
6 Kentucky banks are in EVERY county in Kentucky, no matter how small or how rural and Kentucky bankers live in and work FOR their communities. 5
Kentucky bankers care about their customers and help them when times are good and when times are tough.
4
Kentucky bankers don’t duck out on a righteous fight. They stand up when a principal is at stake and demand explanations when needed.
3 Kentucky bankers appreciate the hard work others do for them and acknowledge it with appreciation. 2 Kentucky bankers are better than credit unions, I don’t care what the credit union ads say. 1 Kentucky bankers call me Debra — no last name necessary.
Bulletin of the Kentucky Bankers Association
Continued @ left: 1891 Indian Head Two Cents
12 THINGS I HAVE LEARNED
Bulletin of the Kentucky Bankers Association
Majority Leader Mitch McConnell
Kentucky Banker Magazine Special 125th Anniversary Edition | PAGE 12
PAGE 13 | Kentucky Banker Magazine Special 125th Anniversary Edition
Bulletin of the Kentucky Bankers Association
U.S. Congressman Andy Barr
Bulletin of the Kentucky Bankers Association
KBA Convention Program Archive
FROM THE TOP LEFT AND CLOCKWISE: 1969 (75th Convention), 1943 (War Conference), 1901, 1937, 1989 and 2013.
Kentucky Banker Magazine Special 125th Anniversary Edition | PAGE 14
A very special KBA profile Angie White Sponsorship Relations awhite@kybanks.com
Google December 1960 and you will find Elvis Presley at the top of the music (and movie) charts, Dwight D. Eisenhower as president, Swiss Family Robinson in all of the movie houses, and Melba Stewart starting her career at the Kentucky Bankers Association. Ok, so maybe you won’t find that last one on the internet but you should – Melba is definitely an important part of the KBA’s history. Melba joined the KBA in a traditional role with secretarial duties, but her capabilities were soon recognized and her responsibilities expanded over the years. Ultimately, she was assigned to oversee the events and activities of the Board of Directors, organize and plan seminars and schools; and, of course, we all remember her incomparable control of all things - Annual Convention. In Melba’s words, “this was the main event” and she is right – Annual Convention is where it all happens. This is where the most important business of the KBA comes together and is celebrated by members and staff alike. And, regardless of whether she was supposed to, Melba carried the weight of the responsibility of ensuring that each Annual Convention was perfect and unique—a difficult task regardless of the expertise and experience of the event planner. There are so many details involved in an event that normal people and attendees take for granted. “Planning Convention was always a challenge”, says Melba. “Even though other events had a lot of the same details to them, Annual Convention was on a much larger scale and took an entire year to plan. With each one I did, I learned something that would help me improve on the planning for the next time”. And that she did. With each year, Melba made sure that she did all she could do to make sure Convention was always a PAGE 15 | Kentucky Banker Magazine Special 125th Anniversary Edition
fun and rewarding experience for all. And, she pulled it off for 40 Conventions in a row! So, can the best ensure that everything will go as planned? I think we all know the answer to that one is NO. But Melba, as the best, made sure that no one noticed the glitches. “For the most part, they all ran smoothly, but once you arrive on site, you are dependent on the staff that the facility has chosen to help work your event. One year, I remember having to put water and butter on all of the tables so that we could keep on schedule with the closing dinner because the hotel staff was running behind. You just do what you have to do.” says Melba. And who can forget the year of our first out of state Annual Convention in 1999 at The Cloister in Sea Island, GA. Hurricane Floyd was breathing down our necks and The Cloister put us on notice that they were closing up. The Convention was cut short and Melba made sure that everyone made it home safely by car pool or otherwise. The Cloister invited the KBA to come back again in 2001, hoping to help us overcome the glitch in 1999, but, again, events were beyond even Melba’s control and we were all made aware of the horrifying attack on the U.S. World Trade Center on 9/11, during the business session of the Convention. The Annual Convention was cut short and, again, Melba was called upon to see that everyone was attended to. “With Ballard’s strong leadership, we prayerfully completed the Convention that evening feeling strength in being together and working out the details on how to get everyone home safe and sound,” said Melba. Through good times and those more trying, the KBA, its Board, and its members have shared many memorable moments and fellowship with each passing year. So, to Melba and to those who learned from her, THANK YOU for all you do to make each Annual Convention memorable!
Bulletin of the Kentucky Bankers Association
The Importance of Being Melba
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Congratulations to the Kentucky Bankers Association on their 125th anniversary. crowehorwath.com/banking Audit / Tax / Advisory / Risk / Performance In accordance with applicable professional standards, some firm services may not be available to attest clients. © 2016 Crowe Horwath LLP, an independent member of Crowe Horwath International crowehorwath.com/disclosure
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BACK ROW: Eli Barber, Citizens Commerce National Bank; Jesse Johnson, The Farmers National Bank of Danville; Emerson Ballard, Town & Country Bank and Trust Company; Brad Mattingly, The Farmers National Bank of Lebanon; Tyler Crum, Citizens Bank of Kentucky, Inc. FRONT ROW: Lonnie Gentry, First Security Bank; Michael Laxton, United Cumberland Bank; Stephen Cambron, Home Federal Bank Corporation; Carrie Chaney, Citizens Guaranty Bank.
— KBA Emerging Leader Profile — Bank: Town & Country Bank and Trust Co. College: Bellarmine University KBA Education: General Banking, Commercial Lending In your opinion, what separates your bank from others? Our people – I am sure you get this a lot but our people are great. I am a firm believer that our customers do business with an individual and not an institution. Our commitment to each other and our customers is unparalleled. What made you decide to make banking your career choice? Honestly – it was by default. They were the first solid job offer I received once I graduated and started looking. I quickly realized it was a good fit. I feel that the skills required to be a good banker line up well with my skill set. What qualities make you successful at your job? Honesty, listening, persistence, positive attitude, kindness, willingness to say no.
Emerson Ballard PAGE 17 | Kentucky Banker Magazine Special 125th Anniversary Edition
What is your favorite inspirational quote? The Serenity Prayer: “God grant me the serenity to accept the things I can’t change, the courage to change those I can, and the wisdom to know the difference.”
Bulletin of the Kentucky Bankers Association
2016-2017 KBA Emerging Leaders
Bulletin of the Kentucky Bankers Association
— KBA Emerging Leader Profile — Bank: Citizens Commerce National Bank College: Georgetown College, UK What is your favorite inspirational quote? Winston Churchill: “To improve is to change; to be perfect is to change often.” It came to me by way of House of Cards on Netflix. Considering the pace of regulatory and technological change in the financial industry, this quote contains a powerful lesson for bankers. What do you like to do in your spare time? In my spare time, I enjoy cooking, running, spending time with my wife and following University of Kentucky athletics. What is your favorite movie? It is very difficult to pick one favorite, but I can narrow it down. Tombstone, Braveheart and the Big Lebowski are some that I love. But, between you and me, if I wasn’t afraid people would make fun of me, I would say that Star Trek II: The Wrath of Khan is at the top of my list. LLAP
Eli Barber
What was the last book you read? The last book I read was “Outliers” by Malcolm Gladwell. He makes a strong case for what it takes to be successful.
— KBA Emerging Leader Profile — Bank: Home Federal Bank College: Lincoln Memorial University KBA Education: Key Ratio Analysis, Consumer Lending Describe the quality of customer service at your bank. Just as our slogan reads: Always Within Reach.” Our customers are the reason we are here and closing in on our 100 year anniversary. Customers are always greeted when they come through the door, and we want to make them feel like they are at home. What made you decide to make banking your career choice? I obtained an accounting degree out of college. I had a friend that approached me out of school and the rest is history. I never thought I would have been a banker, and now eight years later, I can’t picture myself doing anything else.
Stephen Cambron
What qualities make you successful at your job? In my job as a leader, you need to be attentive and listen to the customer’s needs. I feel I am good with people and hold myself accountable in every situation I come into. In this industry it’s easy for people to go down the street to another bank, or receive a loan from other competition. It’s my job to make their experience with us a memorable one and one that they would refer to their friends and families.
Kentucky Banker Magazine Special 125th Anniversary Edition | PAGE 18
Bank: Citizens Guaranty Bank College: Eastern Kentucky University What made you decide to make banking your career choice? Growing up, I never expected to find a career in banking. I stumbled into this field quite by accident, but have fallen in love. I have always liked a good challenge, and banking certainly provides one! My career also allows me to work with customers on an individual level to help them achieve their goals. It is incredibly rewarding to see progress and local growth, and even more so to play even the smallest part in it. What is your favorite inspirational quote? Two by Eleanor Roosevelt: “You must do the things you think you cannot do.” and, “Do one thing every day that scares you.”
Carrie Chaney
How do you motivate others at your bank? The best way I have found to motivate my coworkers is to rally them into a cohesive team. We constantly talk about our goals, and brainstorm ways to achieve them. When that fails, I bring them ice cream. What was the last book you read? Harry Potter and the Cursed Child
— KBA Emerging Leader Profile — Bank: Citizens Bank of Kentucky College: KCTCS/MSU KBA Education: General Banking 1/2, Commercial Lending What qualities make you successful at your job? I am honest and loyal to my company, I pay attention to detail, I complete every task to the best of my ability, I am always willing to listen & learn, and I am a team player. What is your favorite inspirational quote? Thomas Edison: “Opportunity is missed by most people because it is dressed in overalls and looks like work” What do you like to do in your spare time? I love to play sports and my favorite sport is golf. I have been playing golf since the age of 12, and I still love the game just as much today! I’m also a car enthusiast so I love going to car shows. I currently own a Corvette that I take to the shows..
Tyler Crum PAGE 19 | Kentucky Banker Magazine Special 125th Anniversary Edition
What is your favorite movie? Tin Cup with Kevin Costner What was the last book you read? American Icon by Bryce Hoffman
Bulletin of the Kentucky Bankers Association
— KBA Emerging Leader Profile —
Bulletin of the Kentucky Bankers Association
— KBA Emerging Leader Profile — Bank: First Security Bank College: Eastern Kentucky University KBA Education: Several Webinars What made you decide to make banking your career choice? My family was very influential in my decision to work in the banking industry. I have two brothers that are in banking and as I chose to transition back to Owensboro from 10+ years of military service, I knew my passion was Organization and Personnel Development. What is your favorite movie? The Count of Monte Cristo is my favorite movie. It’s based on the book by Alexandre Dumas which is subsequently one of my favorite books. I think it’s a great display of how an individual was able to rise above tremendous odds..
Lonnie Gentry
If you could take your dream vacation, where would you go? Although I really enjoy relaxing at the beach, I’m a bigger fan of history. So I would love to see Europe. To walk the grounds of historical sites such as the Colosseum in Italy or Olympia in Greece would be remarkable. There would be so much to see and experience.
— KBA Emerging Leader Profile — Bank: Farmers National Bank of Danville College: University of Kentucky What separates your bank from others? In a time where banking has become a commodity of sorts, Farmers National Bank still embodies what a strong community bank should be. Our customers are more than an account number. We serve alongside them making our community better. What do you like to do in your spare time? My spare time is mostly spent with my wife and two young children. We love to spend time at the farm. If you could take a dream vacation, where would you go? I would love to go to Alaska. I want to travel the entire state over a few weeks from the coast going inland. The vastness, majestic beauty, and culture really intrigues me.
Jesse Johnson
What is your favorite movie? Tombstone, without a doubt. I have been known to quote many of the lines, just ask my kids! What was your first pet? A little turtle I caught in a creek at my grandparents farm.
Kentucky Banker Magazine Special 125th Anniversary Edition | PAGE 20
Bank: United Cumberland Bank College: Tennessee Tech University In your opinion, what separates your bank from others? For a smaller community bank in a rural area, I think we offer a really good range of electronic and other services. Out bank was actually the first in Kentucky to do imaged statements and we’ve continued investing in technology over the years. Add that to our local people helping local customers with personal service and I think we have a really good combination to meet the needs of almost anyone. What made you decide to make banking your career choice? I’m not sure it was a planned decision, but it has been a blessing for me. There aren’t many IT jobs in our area and I was lucky enough to be recruited out of college. I never dreamed that I would work at a bank, but it’s been a good career for me.
Michael Laxton
What do you like to do in your spare time? Right now my spare time is consumed by my family. My wife and I have two sons who love to play and are full of energy. If you could take your dream vacation, where would you go? I’ve always wanted to go to Japan someday.
— KBA Emerging Leader Profile — Bank: Farmers National Bank of Lebanon College: St. Catharine College & Campbellsville University KBA Education: Numerous regulatory and lending seminars. What made you decide to make banking your career choice? From my accounting days in college, I knew I wanted to be involved in finance. When Farmers National Bank of Lebanon asked if I’d be interested in joining the staff as an internal auditor, I jumped at the opportunity. I knew the position would be a great chance to see many different areas of the bank and develop a broad knowledge of the industry. One opportunity led to another, landing me in the position I enjoy as Senior Lender and Executive Vice President. What do you like to do in your spare time? Currently our children are 10 and 8 years old. I am making a concerted effort to spend time with them and do things they’ll remember when they get older. Additionally, my wife Elizabeth was a pretty good golfer before we were married. I’m trying to take the game up myself.
Brad Mattingly PAGE 21 | Kentucky Banker Magazine Special 125th Anniversary Edition
What is your favorite movie? As a child of the 1980’s I would have to say anything with lots of action and explosions.
Bulletin of the Kentucky Bankers Association
— KBA Emerging Leader Profile —
A ShortHistory ofKan-tuck-kee
“the dark and bloody ground” The country of Kan-tuck-kee, “the dark and bloody ground,” was first explored by John Finley and his companions from North Carolina in 1767. In 1769 Daniel Boone joined the expedition. Boone built a fort at Boonesborough in 1775. Later that same year he secured a treaty with the Cherokees at Wataga, where Kentucky was sold to Col. Richard Henderson and his company. In 1776 Kentucky was made a county of Virginia, and in 1777 the first court was held at Harrodsburg. In 1783 “Kentucky” was formed into one district, and a district court was established. In 1790 it became a separate territory, and in 1792 it was admitted as a State into the Union.
A Legacy of Banking inKentucky Financial Institutions established before 1891
Name City
Established Bank of Maysville Maysville June 26, 1835 Farmers Bank & Capital Trust Co. Frankfort February 16, 1850 First Southern National Bank Lancaster April 13, 1865 Wilson & Muir Bank & Trust Co. Bardstown December 18, 1865 Deposit Bank of Carlisle Carlisle January 1, 1866 Bank of Columbia Columbia January 1, 1866 Elkton Bank & Trust Co. Elkton January 1, 1866 United Citizens Bank & Trust Co. Campbellsburg January 1, 1872 FNB Bank, Inc. Mayfield January 1, 1875 Heritage Bank Hopkinsville January 1, 1879 The Farmers National Bank of Danville Danville February 10, 1879 United Bank & Trust Company Versailles March 3, 1880 Morgantown Bank & Trust Co., Inc. Morgantown September 1, 1880 The First National Bank of Carrollton Carrollton January 1, 1881 The Farmers National Bank of Cynthiana Cynthiana January 1, 1881 Grant County Deposit Bank Williamstown February 2, 1882 Kentucky Federal Savings and Loan Assoc. Covington January 1, 1885 Citizens Federal Savings and Loan Assoc. Covington January 1, 1886 Commonwealth Bank and Trust Co. Louisville January 1, 1887 Clinton Bank Clinton September 1, 1887 Citizens Union Bank of Shelbyville Shelbyville July 1, 1888 Hancock Bank & Trust Co. Hawesville July 1, 1888 Home Federal Savings and Loan Assoc. Ashland January 1, 1889 South Central Bank of Monroe County Tompkinsville January 1, 1889 The Citizens National Bank of Lebanon Lebanon January 1, 1889 Community Financial Services Bank Benton January 1, 1890 Carrollton Federal Bank Carrollton January 1, 1890 Sebree Deposit Bank Sebree January 1, 1890 Hart County Bank and Trust Co. Munfordville February 20, 1890 The Farmers National Bank of Lebanon Lebanon April 1, 1890 The Commercial Bank of Grayson Grayson January 1, 1891 Bedford Loan & Deposit Bank Bedford November 2, 1891
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BEDFORD, Ky. – Bedford Loan and Deposit Bank opened as a full-service bank on November 2, 1891. Since 1891 it has grown to open three branches and has served and supported the Bedford community for 125 years this November. Bank President John Manning told Helen McKinney, Contributing Writer at the Trimble Banner, that the bank’s longevity can be attributed to the “support of the community and the fact that we’ve been a relatively conservative lender.” The bank has planned a year-long celebration to include events leading up to the 125th anniversary of the bank in November. In April an Arts Gala showed works by employees, past and present (see below). When the bank first opened, W.F. Peak was president, W.R. Logan was cashier and D.L. Bell was assistant cashier. One of the first acts the three employees performed for the newly incorporated board of directors was to purchase a safe and small vault from Hall Safe & Lock Co. It cost a mighty $725.
In December of 1948, the Bell Hotel building on the north side burned, damaging the bank wall and roof causing $500 in damages. In 1950s the first outside clock was installed at the bank, credit insurance was made available to customers, and the first air conditioner was installed in the bank. The 75th anniversary celebration included bank staff dressing in colonial attire; 325 guests visited the bank during an open house marking the day. Technology came to the bank in the 1980s. Ralston told McKinney that their first computer “filled half of a room. Computers filled the bank, and eventually all employees had their own to operate.” McKinney reported that Bedford Loan and Deposit Bank has always cooperated in funding local projects and helped to establish churches, schools, fire department, post office, public water system and supporting local students wanting to obtain a college education. “Bedford Loan and Deposit Bank is a model institution for what a Kentucky community bank should be,” said Ballard Cassady, president and CEO of the Kentucky Bankers Association (KBA). “We at the KBA are proud to share this 125th anniversary with them and the Commercial Bank of Grayson.” (Editor’s note: see page 25 for CBoG article.)
McKinney reported that the bank was supportive of the community and nation as a whole during World War I. On its 50th anniversary in 1941, the bank’s deposits totaled more than $400,000. One year later, World War II required that much attention be given Bedford Loan and Deposit Bank will hold an Open to military financing and the promotion of govern- House Saturday, November 5th at the main office at 12 noon to celebrate their 125th anniversary. ment savings bonds once again.
PAGE 23 | Kentucky Banker Magazine Special 125th Anniversary Edition
Bulletin of the Kentucky Bankers Association
Bedford Loan & Deposit Bank Celebrating 125 Years
Commercial Bank of Grayson - 125th Celebration -
125 years ago,
Commercial Bank of Grayson opened its doors, filling a void in the community, as Grayson had no financial institution. Commercial Bank of Grayson’s principal stockholder, Chairman of the first Board of Directors, and first bank President was Dr. John Wilson Strother (pictured below). Dr. Strother served as President of Commercial Bank of Grayson until his death in 1935. Four other members of the Strother family have served in that position, Wick H. Strother (1935-1956), Jack W. Strother (1956-1982), Jack W. Strother Jr. (1982-2013), and Mark D. Strother (2013 – Present), making this a 5 generation, family owned bank.
“Being able to serve our community and give back to those who have supported us and who are the reason we are still able to do what we do is important to us,” said Mark Strother, President and CEO. In May of this year, Commercial Bank of Grayson decided to give back in a BIG way – they hosted the ACM and ACCA Breakthrough Duo/Group of the Year OLD DOMINION in their parking lot for a free concert to celebrate their 125 years in banking. “This was our way of saying thank you to our customers and community”, says Strother, “We truly are proud to call Grayson our home.”
12 Decades of the KBA >>> PAGE 25 | Kentucky Banker Magazine Special 125th Anniversary Edition
Bulletin of the Kentucky Bankers Association
Commercial Bank of Grayson
Celebrating 125 Years
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Bulletin of the Kentucky Bankers Association
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Bulletin of the Kentucky Bankers Association
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Bulletin of the Kentucky Bankers Association
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Bulletin of the Kentucky Bankers Association
PAGE 39 | Kentucky Banker Magazine Special 125th Anniversary Edition
Bulletin of the Kentucky Bankers Association
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Bulletin of the Kentucky Bankers Association
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Bulletin of the Kentucky Bankers Association
U.S. Congressman Harold Rogers
Kentucky Banker Magazine Special 125th Anniversary Edition | PAGE 42
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Bulletin of the Kentucky Bankers Association
U.S. Congressman Jeff Greer
125 YEARS
CONGRATULATIONS TO KENTUCKY BANKERS ASSOCIATION
rise by “ We lifting others. ROBERT INGERSOLL
”
We are proud to be a member of the KBA and look forward to working with the community banks in Kentucky for the next 125 years.
JAMES BROWN Over 25 years of banking experience in Retail, Small Business, Corporate and Correspondent Banking.
(502) 625-9330 james.brown@syb.com THE CORRESPONDENT BANKING TEAM
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WEALTH MANAGEMENT GROUP Retirement Plans Investment Management Insurance Trust Partnering And More! NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE
PAGE 45 | Kentucky Banker Magazine Special 125th Anniversary Edition
Bulletin of the Kentucky Bankers Association
Governor Matthew G. Bevin
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COINS (from left to right): 1891 Dime, 1891 Indian Head Penny, 1891 Silver Dollar, Penny, Dime. BILLS: 1891 10, 20, 50 and 1000 Dollar Notes.
Kentucky in 1891
PAGE 47 | Kentucky Banker Magazine Special 125th Anniversary Edition
Bulletin of the Kentucky Bankers Association
Currency in 1891
Congratulations to the Kentucky Bankers Association on 125 years of excellence serving Kentuckyâ&#x20AC;&#x2122;s community banks. from your friends at
KraftCPAs is proud to support the Kentucky Bankers Association.
John McGarvey to Emcee 125th KBA Annual Convention September 17-20, 2016 The Breakers - Palm Beach, FL Known for banking and finance law. Experienced in much more. BANKING & FINANCE LAW COMMERCIAL LITIGATION EQUINE LAW GOVERNMENT LAW REAL ESTATE LAW BOWLING GREEN
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PAGE 49 | Kentucky Banker Magazine Special 125th Anniversary Edition
Bulletin of the Kentucky Bankers Association
Commissioner Charles Vice
Department of Financial Institutions
Bulletin of the Kentucky Bankers Association
President & ceo James Bullard
Federal Reserve Bank of St. Louis
Kentucky Banker Magazine Special 125th Anniversary Edition | PAGE 50
PAGE 51 | Kentucky Banker Magazine Special 125th Anniversary Edition
Bulletin of the Kentucky Bankers Association
Deputy Comptroller Blake Paulson
space from which they can all work together to raise the bar for ty. We all look to the KBA as advocates, advisors and educators, reliable presence for the past 125 years.
f Kentucky. We have worked with more than 75 financial instifinancial institution experience among our partners. We have the Kentucky Bankers Association, rvicesTo ourtofriends HRat consulting, and look forward to what the future will The partners and associates of MCM CPAs & Advisors congratulate you on the occasion of your 125 anniversary. This is a o sharpen and expand our skills and This year alone, remarkable milestone, and we feel fortunate to have been a small part ofexpertise. your story so far. The work the KBAjoined does for the financial of the Commonwealth is unrivaled, and we applaud you for your years rms recently ourinstitutions team. of service in providing Kentucky bankers with a platform and space from which they can all work together to raise the bar for th
both their clients and their team members in this community. We all look to the KBA as advocates, advisors and educators, and we are lucky to have had them as such a steadfast and reliable presence for the past 125 years.
ay in MCM which we are able expand our resources and reach for our CPAs & Advisors is the largest CPA firm in the state of Kentucky. We have worked with more than 75 financial insticlients, of all sizes, and have more than 100 years of financial institution experience among our partners. We have s for tution quite some time. professionals both led provided Kentucky clients with everything MCM’s from assurance services to HR consulting, and lookhave forward to what the future will and bring for these relationships, as we are constantly striving to sharpen and expand our skills and expertise. This year alone, MCMeducational has doubled its Northern Kentucky presence as two firms recently joined our team. ed KBA articles and materials. We have participated Our partnership with the KBA and its members is another way in which we are able expand our resources and reach for our ons. And we look forward doing of the same financial institution clients, and we’ve been proudto members for quite more some time. MCM’s professionals have bothwell led and into taken part in KBA workshops. We’ve both provided and utilized KBA educational articles and materials. We have participated in, spoken at and sponsored KBA conferences and conventions. And we look forward to doing more of the same well into the future.
cky Bankers Association on the 125th anniversary! Sincerely,
That is why MCM both congratulates, and thanks, the Kentucky Bankers Association on the 125th anniversary!
Henry Hawkins Director of Financial Institutions Partner MCM CPAs & Advisors Henry.Hawkins@mcmcpa.com www.mcmcpa.com
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PAGE 55 | Kentucky Banker Magazine Special 125th Anniversary Edition
Bulletin of the Kentucky Bankers Association
United States Senator Rand Paul
Congratulations to the
Kentucky Bankers Association on
125 Years of service to Kentucky banks.
BOWLING GREEN
CORBIN
LEXINGTON
LOUISVILLE
NEW ALBANY
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PAGE 57 | Kentucky Banker Magazine Special 125th Anniversary Edition
Bulletin of the Kentucky Bankers Association
U.S. Congressman Thomas Massie
Bulletin of the Kentucky Bankers Association
Photo Caption Contest
Contest Rules: Write a caption of up to three sentences about this unique picture found in our photo archives. Send your caption to the email at the bottom right of this image. One entry per person. The winner will receive a $125 gift card and a grab bag of KBA items.
E-mail your entry to: jfischer@kybanks.com
Top 3 entries will appear in the next issue.
We’ll see you in Palm Beach! Join two of Kraft’s banking team members at KBA’s annual convention!
Palm Beach, FL
Serving the banking industry for more than 50 years. Tom Caldwell
Nancy Mullen
www.kraftcpas.com/banking.htm
WELCOME KENTUCKY BANKERS To our Annual Convention celebrating 125 years!
From your friends at:
Paula B. Cravens Sturgeon Director of Education Solutions Natalie Kaelin 2017 Director of Education Asst. General Counsel Paula Cross Education Services Coordinator Jamie Hampton Education Services Coordinator
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Make Plans to Join Us!
2017 SPRING CONFERENCE
April 17-19, 2017
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Mark Your Calendar!
Mark Your Calendar 2017 KBA CONVENTION September 24-27
grove park, asheville, nc