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The Missouri Banker Volume 69, Number 8 • THE NEWSPAPER OF THE MISSOURI BANKERS ASSOCIATION • Thursday, August 15, 2013

MBA invited a group of bankers to preview the Amplify Bankers website before Missouri went live as a beta test state. Among those attending the briefing are, from left, MBA President and CEO Max Cook, MBA Chairman David Turner, MBA Immediate Past Chairman Ken Littlefield; Chairman-Elect Dan Robb, Dawn Dauer, The Bank of Missouri, Cape Girardeau, and Carrie Almond, Citizens Bank and Trust, Chillicothe. Other bankers who attended are Molly Hyland, Commerce Bank, St. Louis, and Adam Trower, Community State Bank of Missouri, Bowling Green.

MBA is a beta test state for new website to help promote banking The Missouri Bankers Association is a beta test state for Amplify, the new website developed in partnership between ABA’s Communications and Grassroots groups and the State Bankers Associations to provide bankers with tools for public out-

reach and grassroots. The site can be accessed at www. With tips on how to speak to a local group or engage the media to talking points on legislative issues, Amplify is a comprehensive site -- a

“one-stop shop” -- for a bank’s public image and grassroots needs. Even though the site has been developed by the ABA, banks do not need to be ABA members for their employees to register for it. All Missouri bankers who have a

bank email are eligible to register to use the site and provide feedback to the ABA and MBA about its content. If you have questions or feedback about the new website, contact Chris Lepper at the MBA at clepper@

MBA welcomes new receptionists

Erin Scheithe and Matt Brown from the American Bankers Association were in Jefferson City recently to brief Missouri bankers and MBA staff members on the website www. that is a resource for bankers to promote banking, learn about banking issues and develop grassroots initiatives for their banks

MBA has welcomed two new receptionists this spring, Debbie Troesser and Glenda Beck. The two new employees job share the position that entails switchboard duties and assisting the Accounting Department. Stroesser works Thursday and Friday, and Beck works Monday and Tuesday. They each work every other Wednesday. Both have retired from working at state agencies. Troesser had been employed at the Department of Labor and Workers Compensation. Beck had worked at

Debbie Troesser

Glenda Beck

the Department of Revenue for almost 31 years and before that she worked at the Agriculture Department for five years. Troesser says in her free time she enjoys gardening, reading and travel. She has

two grown sons and one granddaughter Beck says she has been so busy with her son and daughter’s sporting activities that she’s just now figuring out how to spend time doing what she wants.

Visit our web site at

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The Missouri Banker August 15, 2013

Actions Country Club Bank, Kansas City, received permission to relocate the main banking house from 414 Nichols Rd., Kansas City, to One Ward Parkway, Kansas City, and to retain the present main banking house as a branch. Alliance Bank, Cape Girardeau, received bank permission to relocate its already established branch The Missouri Banker

573-636-8151 Max Cook Publisher William O. Ratliff Managing Editor Sue Norfleet Editor The Missouri Banker (USPS Number 000044, ISSN Number 0893-5637) is published 12 times a year (once a month) by the Missouri Bankers Association, 207 E. Capitol Ave., Jefferson City, MO 65101. Second-class postage is paid at Jefferson City, Mo. Copyright© 1998 by the Missouri Bankers Association. All rights reserved. POSTMASTER: Send address changes to The Missouri Banker, P.O. Box 57, Jefferson City, MO 65102. Opinions expressed in any signed article in The Missouri Banker are those of the author and should not be construed as the viewpoint of the editors or of the Missouri Bankers Association. Neither should information provided in The Missouri Banker be construed as legal advice. The Missouri Banker does not provide legal advice, nor does it take the place of legal counsel hired by financial institutions. While this publication makes a reasonable effort to establish the integrity of advertisers, it does not endorse advertised products or services, unless otherwise so stated. This issue may contain legislative advertising. Advertising copy is generally segregated from news and other information.

Address changes Changes in addresses for The Missouri Banker can be mailed to the MBA at P.O. Box 57, Jefferson City, MO 65102, Attn: Database Manager or e-mailed to

from 1100 State Highway W, Oran, to 1516 State Highway W, Oran. People’s Savings Bank of Rhineland, Rhineland, requested permission to establish a separate branch at 5000 Winghaven Blvd., O’Fallon. First Midwest Bank of Dexter, Dexter, requested permission to relocate the main banking house from 20 West Stoddard St., to 819 W. Business Highway 60, Dexter, and to retain the present main banking house as a branch. An application was filed for approval of a plan of merger of Bank of Thayer, Thayer, with and into South-

ern Bank, Poplar Bluff, the surviving bank, under the name of Southern Bank. The main banking house of the surviving bank shall be the present main banking house of Southern Bank, Poplar Bluff. B&L Bank, Lexington, returned to the Missouri Division of Finance for cancellation the authorization for a separate branch at 558 Highway 224, Wellington. The bank discontinued operation of this branch on July 12, 2013. St. Johns Bank and Trust Company, St. John, notified the Missouri Division of Finance that the bank’s branch at 45 Honey Locust Lane,

St. Charles, closed effective June 27, 2013, and the bank’s branch at 9229 Natural Bridge Rd., St. Louis, closed effective June 28, 2013. Peoples Community Bank, Greenville, received permission to establish a separate branch at 839 S. Colorado Ave., Republic. A Certificate of Amended and Restated Articles of Incorporation and Conversion to Stock was filed with the Missouri Division of Finance by Quarry City Savings and Loan Association, Warrensburg, finalizing their conversion from a mutual to a stock form of ownership. Central Trust & Investment Company, Jefferson

City, requested permission to establish a separate branch at 1330A North 7 Highway, Blue Springs. First Home Savings Bank, Mountain Grove, notified the Missouri Division of Finance that the bank discontinued operation of the branch located at 2536 State Highway 176, Rockaway Beach effective June 28, 2013. Liberty Bank, Springfield, returned to the Missouri Division of Finance the authorization for a separate branch at 8041 W. State Highway 76, Cape Fair. The bank discontinued operation of this branch on July 26, 2013.

Associate News

Whitlock recognized by Accounting Today The Whitlock Company, Springfield, an MBA Associate Member, was recognized as one of Accounting Today’s 2013 “Wealth Magnets.” The company ranked 23rd of CPA firms providing investment advisory services to their clients. This is the seventh annual ranking of CPA firms by assets under management by Accounting Today. Managing partner Joe Page attributes the company’s growth to Barney Whitlock’s leadership and the company’s investment performance in an ever-changing down market. Accounting Today ranked firms on this list according to as-

sets managed; The Whitlock Company ranked among firms managing $50 million in client assets. The Whitlock Company provides investment advisory and portfolio management services through a professional alliance with Oppenheimer & Co., a member of all principal exchanges. The Whitlock Company was founded in 1913 as an accounting firm. Since then, it has grown to encompass a full range of professional services. The company operates an office in Joplin in addition to its headquarters in Springfield, Missouri.

Compliance Conference celebrates 20th anniversary at 2013 meeting Twenty years ago at MBA’s first Compliance Conference in 1993, two of the featured speakers were Denny Deischer and Chuck Lewis. The more things change, the more they stay the same. When the 2013 Compliance Conference is held Sept. 18 to 20 at Tan-Tar-A Resort, Osage Beach, both Deischer and Lewis are featured on the program to discuss many of the same issues and regulations they were talking about in 1993. One of the big changes from 1993 is that Deischer is now on the MBA staff as vice president, educational services, and Lewis is the vice president of MBA Compliance Services.

Desicher and Lewis will be presenting a condensed version of the material they shared during the recent seminars around the state on the Dodd-Frank rules. The conference kicks off on the afternoon of Sept. 18 with a general session on social media compliance concerns by Ryan Bell, CEO of Gremln, Inc., an MBA endorsed business partner. Richard R. Riese, senior vice president, Center for Regulatory Compliance, American Bankers Association will speak at the opening general session on Sept. 19 about what is happening on the federal front in Washington. Topics that will be covered in special interest sessions include handling

garnishments, flood insurance and an update from the Missouri Division of Finance. Chuck Lewis will moderate a panel discussion on the future of lending with Rick Hollenberg from Central Mortgage Company, St. Louis, and Michael Off, executive vice president, Community First Banking Company, West Plains as panelists. Friday’s sessions include peer group discussions, regulator breakout session and a closing session by Lewis on “Fair Lending Focus.” For more complete program and registration information, visit the MBA website at or call the MBA at 573-636-8151.

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Message from the President

New tool available to “amplify” banking Max Cook President Missouri Bankers Association When I accepted the position of co-chairman of ABA’s new Banker Advocacy and Grassroots Committee at last year’s ABA Annual Convention, I was excited to have the opportunity to work with my co-chair to develop ways to increase awareness of banking’s positive impact on local communities, states and the nation. My co-chair, Bill Hayes, president and CEO of Kishacoquillas Valley National Bank, Reedsville, Pa., and I had a goal of enlisting bankers across the nation to tell the positive story of banking. Bankers and ABA staff members realized we need

a way to “amplify” banking and its good works. Many bankers engage with elected and appointed officials on a regular basis, and have been for years. However, that’s no longer enough. It’s become clear that to be effective at sharing the realities of banking with policymakers and the general public, we must involve every banker – from front line personnel to the CEO. Yes … our tellers and customer service representatives need to be as informed about banking issues as the executive management team. The ABA commissioned public opinion research to

determine the best way to talk about what bankers do and banks’ roles in economic growth and job creation. ABA took those findings and developed a strategy to communicate and build relationships on a grassroots level with policymakers and other opinion leaders in the communities bankers serve. The result is called Amplify. Amplify is a new website with tools and resources designed to help bankers inform the public and policymakers about what you do every day. On the website, you will find talking points and background on legislative issues Paid Advertisement

sample speeches, letters to the editor, and op-eds to adapt to meet your needs. For example there are stepby-step instructions on how to host a bank visit for lawmakers, set up a roundtable discussion, and hold groundbreaking or ribbon cutting for a bank financed project. Our goal is for policymakers to understand your role as the cornerstone of our nation’s economic vitality. We want to promote a regulatory environment that helps banks thrive – and communities grow and prosper. This is a grassroots effort, because that is where you make a difference – with

your customers, and in your communities. This platform is accessible to all bankers, not just ABA members. We want every banker to be able to amplify the important work of banks. Missouri is a beta test state for Amplify. I want to encourage all Missouri bankers to register on the website and investigate its resources. Information is presented in clear, concise language that explains current issues such as credit union tax reform, Basel III capital rules and regulatory relief for community banks. The Amplify See Amplify, Page 4

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The Missouri Banker August 15, 2013

Lobbyist’s Notebook

Some odds and ends… Bill Ratliff Executive Vice President Missouri Bankers Association I periodically like to go through my notes and share some things I’ve found. You may find them interesting (or maybe not). Regional Meetings… Our annual MBA Regional Meetings are underway. As usual in non-election years, we have our Regulators’ Roundtable at these meetings. Attendance so far is very good. With all of the new rules and regulations, it’s not surprising that we would see a large numbers of bankers at these meetings. Some bankers will attend because they want to know any latest changes that may be announced. Others are there because they have questions and hope to get answers from the experts in attendance. Still other bankers come because this is an excellent way to meet and talk to other bankers in the area. If you have not yet signed up for the remaining meet-

ings, do so now. We will be in Cape Girardeau on Aug. 28, St. Louis on Aug. 29 and in Columbia on Sept. 10. Putting things in perspective … To give you some idea of where we fit in the Grand Scheme of Things: If there were only 100 people in the world: • 57 would be Asians • 21 would be in Europe • 14 in North America • 51 are female, 49 are male • 70 are non-white, 30 are white • 70 are non-Christian, 30 are Christian • 50 percent of the world’s wealth would be held by six people. All six would live in the U.S. • 50 suffer from malnutrition • One is near death, one near birth • One has a college education

• No one owns a computer -- Peaceworks Some quotes from Winston Churchill If you ever get a chance to visit the Churchill Museum in Fulton, Missouri, go for it! It is a wonderful museum loaded with vintage Churchill artifacts and memories. Here

are a few quotes of Sir Winston’s that I like: “In war you can only be killed once; in politics, many times.” “Politics is the ability to foretell what is going to happen tomorrow, next week, next month, and next year,

IRA School to be held in September


and to have the ability to explain why it didn’t happen.” “There is no such thing as Public Opinion. There is only Published Opinion.” “You can always count on Americans to do the right thing – after they’ve tried everything else.”

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home page asks you “What do you want to do today?” Your choices are easy to navigate, and you can find out more about MBA will hold a three-day credit union taxation, speaking to a local group, engaging the IRA School Sept. 10 to 12 in media, using social media … just to mention a few. Columbia at the Stoney Creek Inn. I encourage you to visit and reg The school will be taught ister to become a user. Check out its information and put it to by Mike Nelson. The compre- good use. Then, let us know what you think. The MBA and hensive course will cover rule ABA will be requesting feedback. changes, existing rules and Amplify will be launched nationally at the ABA Annual IRA compliance issues. Convention in New Orleans in October. For more information, Visit the MBA website contact Chris Lepper at the MBA at at for or 573-636-8151or Erin Scheithe, VP, Political Advocacy & more information and to regGrassroots, ABA at or 202-663-5436. ister. Paid Advertisement

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Achievements Jerry Morgan has been named president and chief executive officer of Southern Missouri Jerry Morgan Bank, Marshfield and of Southern Missouri Bancshares, the bank’s holding company. The change was effective July 17. Morgan was one of the original investors in the bank in 1997 and has served on the Board of Directors and the Executive Committee. James Behrens has been elected chairman of the Board of Directors at RCS Bank, New London. He previously served as president and CEO of the bank. James E. Ross was named president and CEO of RCS Bank and also was elected to the James E. Ross Board of Directors. He has more than 30 years of banking experience. Jackie Bonner joined Peoples Bank of the Ozarks as senior vice president, chief operaJackie Bonner tions officer. She has more than 30 years of banking experience. Dr. Hal Higdon, chancellor at Ozarks Technical Community College, Springfield, Dr. Hal Higdon has joined the Board at Metropolitan National Bank, Springfield. Dr. Higdon was named chancellor at Ozarks Technical Community College in 2006 after spending 13 years at Mississippi Gulf

Coast Community College in administrative positions. Terry McFarland was promoted to senior vice president and chief operations officer at First Home Savings Bank, Springfield. She has

more than 13 years of banking experience. Jeff Palmer was promoted to senior vice president and chief financial officer at First Home Savings Bank. He has more than six years of bank-

ing experience. Amy Rinehart was promoted to assistant vice president and bank manager for the Gainesville branch of First Home Savings Bank. She has more than six years of

banking experience. Kiley Bengston was promoted to operations manager for the Sparta branch of First Home Savings Bank. She has more than four years of banking experience.

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The Missouri Banker August 15, 2013

Banking Leadership Missouri meets at Whiteman AFB

MBA President and CEO Max Cook, standing center, and former banker Joe Scallorns, standing right, welcome members of the 2013-14 Banking Leadership Missouri class to its first session Aug. 7 and 8 at Whiteman Air Force Base.

Instructor Mark Towers prepares to lead the Banking Leadership Missouri class in the wagon wheel get-to-know-you exercise. Towers has been an instructor in all three Banking Leadership Missouri classes.

Mark Towers visits with Benjie Ferguson, The Bank of Missouri, Cape Girardeau, during last week’s Banking Leadership Missouri Class.

Nick Overkamp, Heartland Bank, Clayton, and Rebecca Dunham, Arvest Bank, Joplin, take part in a leadership discussion. The kick-off class for the group focused on leadership styles.

Tammy Kelley, left, Old Missouri Bank, Springfield, and Rebecca Dunham, Arvest Bank, Joplin, celebrate the end of a successful leadership exercise with a fist bump.

The Missouri Banker August 15, 2013

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The Missouri Banker August 15, 2013

MBA Chairman David Turner learned banking Growing up in Jefferson City, MBA Chairman David Turner wasn’t thinking about what kind of a career he wanted as much as how he wanted to attend college. Turner, president, chairman of the Board and CEO of Hawthorn Bank, Jefferson City, says he announced to his parents when he was about 16 that he intended to go to college. Although his parents were supportive, they said he would have to find a way to pay for his higher education himself because they could not afford to pay for four years at a university. Working through school Undeterred, he found a job at the K-Mart in Jefferson City while still in high school. Turner was among K-Mart’s first employees and he began working before the store opened. One of his first pay stubs was issued on Nov. 11, 1973, and it states he worked twelve and a half hours at a rate of $1.90 per hour. His total take-home pay was $23.75. He was paid in

cash, he remembers. Through high school and college he worked at K-Mart with the exception on one summer between his junior and senior year at college. That year, he was offered a summer job working on a section gang for the railroad for $6 an hour. Turner explains the job was replacing ties and “our goal was to replace 1,500 ties a day.” When he returned home for his senior year at Lincoln University, Turner says he had enough money to purchase a new VW Bug. Turner majored in accounting at Lincoln University and studied for a minor in business administration. Turner says he didn’t begin college with a banking career in mind. “I felt business administration was too general for a major and that accounting was more specific. No matter what business you are in, you can’t have too much accounting,” he explains. Two opportunities After graduating from Lin-

coln University, Turner said he had two job opportunities: One with Exchange National Bank in Jefferson City (now Hawthorn Bank), and the Public Service Commission (PSC), a Missouri state agency. He said he accepted an auditor position with the PSC because the state holidays and other benefits appealed to him. He soon discovered working in a bureaucracy had its downfalls. A family friend, Jim Lloyd, who was executive vice president at Exchange National Bank, contacted Turner to offer him a position in the bank’s Audit Department. The OCC had told the bank that they should have someone with college degree working in the Audit Department. Turner says that the gentleman who was the auditor at the time “had forgotten more about banking that most of us ever knew,” even though he did not have a degree. Joined bank in 1978 Turner accepted the offer and joined the bank on Nov.

1, 1978, at an annual salary of $12,150. He will observe his 35th anniversary with the bank on Nov. 1. When Turner joined the bank it was an $85 million institution. Today it is $1.2 billion. “There were two of us in the Audit Department,” Turner says. “Nothing was automated, and I learned everything hands-on.” After three years working in Audit, he was reassigned to the Loan Department to work on automating that area. After attending NCR School and working on the automation project, Turner says he stayed in Loans. “It was my career path, and at the age of 29, I became head of the Loan Department.” A good mentor Turner says his mentor at the bank was Don Campbell, the long-time head of the institution. Campbell moved Turner from the Loan Department to a position where they worked together and he learned more about the entire bank. “It’s critical to have a good mentor. Mr. Campbell

MBA Chairman David Turner, putting, enjoyed a round of golf with friends at the MBA Annual Convention Golf Tournament in June. Turner says he enjoys golf and fly fishing when he has time. Watching the put are, from left, MBA Chairman-Elect Dan Robb, Jonesburg State Bank, and his wife, Dianna; and Brice Luetkemeyer, Bank of St. Elizabeth, and his wife, Marilyn.

was a great role model and set a good example of what a banker should be,” says Turner. He says one of the most important things that Campbell taught him was to “take good care of your customers and everything else falls into place.” Focus on advocacy During his term as MBA Chairman, Turner says he wants to focus on advocacy for the industry. “We need to make sure there is a place here for community banks. Community banks are the backbone of our communities. When a bank closes, many times it marks the end of a viable community.” “Banks under $100 million can’t operate under the same regs as a billion dollar bank.” Turner says. “It doesn’t make sense.” Turner says, “Banks do a lot of good things, but we seem hesitant to blow our own horn.” “In recent years, the biggest threat to banking was credit,” says Turner, “but now it’s over regulation and poor regulation.” He says he would encourage his fellow Missouri bankers to respond to the regulators’ requests for comments to tell the story of how proposals will affect their banks. He also says bankers should make sure their state and federal lawmakers know who we are and make sure we are heard. Turner encourages bankers to sign up for the Regional Meetings that are being held and also to take part in the Washington Visit from Sept. 30 to Oct. 3. And, he encourages bankers to sign up to visit the Missouri Legislature as a Target Banker when it is in session in Jefferson City. Take time to represent banking “It is important to take

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hands-on in Audit Department before automation time to represent our industry,” Turner says. “We have the MBA to herd the cats, but at the end of the day,” Turner says, “we have to take responsibility for our industry.” “I am proud to be a banker,” Turner says. “And, I’m proud of my fellow community bankers. Look at any worthwhile organization in a community and nine times out of ten a leader will be a banker. He says, “Bankers know how important it is to keep the community strong; because if the community isn’t strong, the bank won’t do well.” Turner is inspired by people, he says … “The good works of people .” “I’m inspired when I see people accomplish more than anyone thought they ever could, whether it’s in their personal or business life.” Active in community Turner has been active in the Jefferson City community working with the Jefferson City Chamber of Commerce, United Way and Capital Region Hospital Board. He has

served on the Lincoln University Foundation Board and the Linn State Technical College Foundation Board. He is an elder for the Presbyterian Church in Jefferson City and is a past president of the Great Rivers Council of Boy Scouts of America. He also served on the MBA VEBA Board of Trustees as well as serving as MBA Treasurer in 2005. Turner has three children: Sydney, who lives in New York City and is working to make a career in theater; Sam, a junior at the University of Arkansas; and Karen, a freshman at Jefferson City High School. When he has time for hobbies, Turner enjoys golf and fly fishing. He says he thinks his mentor would be pleased that he has been elected MBA Chairman. “He thought MBA was a great organization and represented our industry well,” Turner says. “And, I could not have followed a better MBA Chairman than Ken Littlefield. We’re competitors, but we’re also great friends.”

In photo at right, MBA Chairman David Turner, president, chairman of the Board and CEO of Hawthorn Bank, Jefferson City, stands by his bank’s landmark clock on High Street in Jefferson City. When the bank changed its name from Exchange National Bank to Hawthorn Bank, the FDIC did not allow the name to be changed on the clock for historical reasons. In the photo above, the bank’s new name is on a brass plaque beside the main entrance.

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Agenda August 2013 22 UCC Article 9 Update Seminar, Stoney Creek Inn, Columbia 28 River Heritage Regional Meeting, Drury Lodge, Cape Girardeau 29 Gateway Regional Meeting, Embassy Suites St. Louis, St. Charles 29 Day One of two-day AIB Principles of Banking Class, MBA Office, Jefferson City September 2013 5 Day Two of two-day AIB Principles of Banking Class, MBA Office, Jefferson City 10 Combined Regional Meeting for Mark Twain Region and Capitol Region, Stoney Creek Inn, Columbia 10 - 12 IRA School, Stoney Creek Inn, Columbia 18 - 20 Compliance Conference, Tan-Tar-A Resort, Osage Beach 30 - Oct. 3 Washington Visit October 2013 10-11 Young Bankers Leadership Conference, Crowne Plaza, Kansas City 22 IRA Seminar, Cape Girardeau 23 IRA Seminar, Columbia 23 Security Management Seminar, Columbia 24 IRA Seminar, Springfield 25 IRA Seminar, Kansas City November 2013 14 Bank Secrecy Act Seminar, Columbia 20 -21 Lending Compliance Workshop, Columbia December 2013 4 - 6 Executive Management Conference, The RitzCarlton Hotel, St. Louis

MBA is a part of Regulatory Feedback Initiative (RFI) The MBA has joined with bankers associations across the country to create the Regulatory Feedback Initiative (RFI). This initiative will bring transparency and accountability to the regulatory process and will help every bank in the country prepare for their examinations and manage their regulatory risk.  The initiative consists of a brief, anonymous online survey that we are asking every bank to take immediately following each safety and soundness examination and each compliance examination.  We need every bank to build the survey into their examination process. For more information, visit the Alliance of Bankers Associations web site at To receive a link to the survey contact Mike Noblett at the MBA via email at

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In Memoriam John Charles Messina passes away John Charles Messina, 84, a former correspondent banker for Commerce Bank, Kansas City, passed away on Aug. 7. Mr. Messina began his banking career in 1951 after serving in the armed services in Germany for two years. He joined the bank as manager of the Bookkeeping Department and assistant manager of the Data Processing Department. He was then named vice president in the Correspondent Banking Department. He called on Missouri banks until his retirement in 1992, after 41 years with the bank. He is survived by his wife of 59 years, Marie; two daughters and two granddaughters. Services were held on Aug. 9 at St. Patrick’s Church, Kansas City. Memorial contributions are suggested to the Alzheimer’s Association, 3846 W. 75th St., Prairie Village, KS 66208.

UCC Article 9 Update Seminar set for Aug. 22 MBA will hold a seminar on Aug. 22 at the Stoney Creek Inn in Columbia to discuss updates to UCC Article 9. John P. Walsh, Of Counsel, Spencer Fane Britt & Browne LLP, St. Louis, and a member of the MBA Bank Counsel Section will present the class. He will provide guidance and analysis of the new filing requirements, changes affecting the perfection of assets and other changes in the 2010 Article 9 Amendments. The Missouri Legislature adopted the 2010 UCC Article 9 amendments in its 2013 session and the legislation becomes effective on Aug. 28. For more information, visit the MBA website at www.

Missouri graduates of the Graduate School of Banking at Colorado this year are pictured left to right: Back Row: Paul Arnett, Bank Star, Pacific; Michael Thomas, Federal Reserve Bank of Kansas City; Brian Beaird, UMB Bank, Kansas City. Middle Row: Brett Magers, Legacy Bank & Trust, Rogersville; Robert Fritts, Community First Bank, Butler; Timothy Scott, Branson Bank, Branson. Front Row: John Williams, Concordia Bank, Laurie, Jill Berron, Bank of Franklin County, Washington; and Nick Lofaro, Liberty Bank, Springfield. This year’s graduates are among the 43 Missouri bankers who attended the graduate school session this summer.

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The Missouri Banker August 15, 2013

Decisions on strategies are complicated but critical By Denny Deischer MBA Vice President Education Services When we at the MBA began planning, developing, and ultimately presenting the recent “Dodd-Frank Denny Deischer Act Changes Seminar” it was immediately clear that we needed to provide our members with the most pressing and pertinent issues in a timely manner. Rather than providing information in a piecemeal way, we waited until we were more certain that the Consumer Financial Protection Bureau (CFPB) had made all the changes expected to the final rules. The rules issued by the CFPB contain important mortgage-related reforms ordered by The Dodd-Frank Act (DFA). Mortgage lending process The most critical and most important reform to the mortgage lending process is the rule regarding Ability-toRepay (ATR) and Qualified Mortgages (QM). The ATR/ QM Rule was issued along with other regulation amendments that were mandated under DFA. Consequently, it must be implemented together and coordinated with the new Home Ownership and Equity Protection Act (HOEPA) rules, Loan Originator Compensations rules, appraisal disclosure provisions of the Equal Credit Opportunity Act (Regulation B) and Truth in Lending (Regulation Z), and mortgage servicing rules. To implement the gaggle of mortgage regulations, creditors must make decisions that will be as much a matter of strategy as compliance. The decisions will involve the board of directors, senior management, and compliance working in concert to ensure policies,

procedures, and strategies are adopted, implemented, and documented. The decisions have to be made, policies and procedures written, adopted, and implemented by January 2014. The ATR Rule’s mandate is that banks may not make a loan secured by a dwelling unless the creditor makes a reasonable and good faith determination at or before consummation that the consumer will have a reasonable ability to repay the loan according to its terms. (Regulation Z, 12 CFR 1026.43(c)(1)) The ATR rule creates new and comprehensive legal standards that will govern the underwriting of residential mortgage loans. As Chuck Lewis said: “We are looking at compliance and underwriting going from a dating relationship to marriage.” Decisions that used to be classified as repayment risk and underwriting considerations have now been altered to include regulatory compliance issues as well. Evaluate compliance options Banks have several options to achieving compliance with the new provisions, and each option requires careful consideration. Bank leadership must evaluate the options and decide: “What do we want to do?” Once the ATR/QM rules take effect in January 2014, mortgage loans will essentially fall into three risk categories. Banks need to decide which type, or which combination of the types of residential loans are to be offered/made; QM Safe Harbor Loans, QM Rebuttable Presumption Loans, or NonQM Loans. At a minimum, regardless of what type of residential loan is being made, banks must determine a consumer’s ATR by considering and verifying eight (8) specifically defined underwriting factors/ guidelines: (1) current or reasonably expected income or assets; (2) current employment

status; (3) the monthly payment on the covered transaction; (4) the monthly payment on any simultaneous loan; (5) the monthly payment for mortgage-related obligations; (6) current debt obligations, alimony, and child support; (7) the monthly debt-toincome ratio or residual income; and (8) credit history. Characteristics of a QM Loan The ATR rules provide lenders a way to avoid certain risks for mortgage loans treated as QMs based on whether the mortgage is a lower-priced “QM Safe Harbor Loan” or a higher-priced “QM Rebuttable Presumption Loan.” The general characteristics of a QM Loan are: • Regular periodic payments that are substantially equal, subject to interest rate adjustments • No negative amortization • No deferral of principal (interest only) • No balloon payments • Points and fees may not exceed limits established under §1026.43(e)(3) – (e.g. >3% of the total loan amount on a loan exceeding $100,000) • Term cannot exceed 30 years • Underwritten based on the maximum interest rate during the first five years • Based on verified current or reasonable expected income or assets and current debt obligations, alimony and child support • Monthly debt-to-income (DTI) ratio may not exceed 43% If a loan meets the QM requirements, and is a first lien loan which has an annual percentage rate (APR) that does not exceed the average prime offer rate (APOR) for comparable transactions by 1.5% or more (or 3.5% or more for subordinate lien loans) it is a QM Safe Harbor Loan. QM Safe Harbor Loans

have a higher legal hurdle for a borrower to overcome to prove the lender did not reasonably evaluate his or her ATR. QMs that otherwise meet the requirements but have APRs that are 1.5%/3.5% or more higher than the APOR (QM Loans that are also higher-priced mortgage loans (HMPLs)) will have a rebuttable presumption of compliance which is not the safe harbor, but is still a solid degree of protection. QM subcategories Subcategories of QM Loans are available as follows: QM Government Related Loans: These loans are eligible to be purchased, insured or guaranteed by HUD, VA, Dept. of Agriculture, RHS, and/or Fannie Mae or Freddie Mac (for as long as they remain under receivership). These loans must meet the QM requirements except the 43% maximum DTI ratio. Small Creditor QM Loans: Small creditor is a bank with less than $2 billion in total assets, the bank and all affiliates having made 500 or fewer first-lien mortgages in the prior calendar year, and that does not operate predominantly in a rural or underserved area. The loan meets all QM Requirements, other than 43% maximum DTI ratio, the APR does not exceed the APOR by 3.5% or more on first or subordinate lien loan (>3.5% of APOR = QM Rebuttable Presumption treatment), and the loan must be held in the small creditor’s portfolio for at least three years. Small Creditor QM Balloon Loan: Small creditor is a bank with less than $2 billion in total assets, bank and all affiliates having made 500 or fewer first-lien mortgages in the prior calendar year, and the bank made more than 50% of total mortgages on properties in a rural or underserved area in prior calendar year. Note: Small creditors not meeting the rural/underserved criteria are eligible

until 1/10/16. The loan has a term of at least five (5) years, meets all QM Requirements other than 43% maximum DTI ratio, the APR does not exceed the APOR by 3.5% or more on first or subordinate lien loan (>3.5% of APOR = QM Rebuttable Presumption treatment), and the loan must be held in the small creditor’s portfolio for at least three years If a bank decides to choose to stay within the QM protections and make only QM loans, there could be what some of us compliance people label as a significant fair lending impact. If a lender chooses to go down the path of making only QM Loans, the question begs to be asked; what types of consumers are likely to be affected by this choice? The population of consumers having DTIs over 43% (unable to obtain a QM) may include disproportionate numbers of protected class consumers. Consumers living in low- to moderate-income (LMI) areas may be similarly affected. A result of choosing to make only QMs may be to make credit less available to protected class consumers and/or those living in LMI areas. This could have big implications under fair lending requirements and the Community Reinvestment Act (CRA). The CFPB has put specific emphasis on disparate impact under the fair lending rules including ECOA/Regulation B and the Fair Housing Act. And has been discussed many times, if there is a fair lending problem involving LMI people and areas, it becomes more difficult to demonstrate that, under CRA, the lender is meeting the credit needs of the community, emphasizing the needs of LMI people and areas. Oh, and what impact will the 43% DTI ratio maximum have on some of those most valued customers who carry a higher DTI, but can easily meet the ATR requirements?

See Strategies, Page13

The Missouri Banker August 15, 2013

Page 13

MBAds Small rural community bank in northwest Missouri has an open position for an individual with substantial computer knowledge and accounting or finance background. A four year college degree is preferred in one of these areas. The qualified individual will be capable of understanding network and system configurations and software applications. Also, be able to perform minor in-house system repairs and upgrades, and coordinate with third party vendors. Knowledge of financial accounting and reconciliation of accounts would be beneficial. Excellent benefits provided. Salary commensurate with experience. Please forward your resume to Bank of Fairport, P.O. Box 217, Maysville, MO 64469 or Kathy@ Business Banking Relationship Officer Moberly MO Business Banking Relationship Manager II will attract and maintain commercial customer relationships. Cross sell wide range of business products and services.  Significant calling responsibilities.  Strong compensation package including annual bonus program.  Bachelors Degree in Finance or related degree program and 3 to 5 years commercial banking experience or related sales experience is necessary.  To review job description and to apply, see our website at  An affirmative action/ equal opportunity employer

Commercial Lender: We are a community bank in Northern Jefferson County, MO seeking a Commercial

Lender with experience in Commercial Real Estate and C&I loans. Prefer a candidate with a degree in a related field and at least 3-6 years of related experience. Primary responsibilities include responding to customer requests for commercial, SBA, real estate and consumer loans within established guidelines through to closing. Full time, excellent benefits, EOE. Send resume to: Midwest Independent Bank (MIB) of Jefferson City, MO is currently seeking a Chief Financial Officer. Responsibilities will include directing the profitability strategies of the bank, management of the bank’s investment portfolio, funds management, capital planning, risk management, preparation of the annual budget, and the preparation, review and filing of various regulatory reports.  The position will also be responsible for reporting to the Board on regulatory and audit requirements.  Candidate must have 10+ years of progressive experience in the area of finance which pertains to Accounting, Audit, Planning & Analysis and/or Operations. MBA and/or CPA preferred.  To apply and view full details visit our website at and click on Employment. UMB Bank (Kansas City, MO) is seeking a Senior Loan Review Officer to assist the Loan Review Manager in determining the credit risk of UMB’s highly complex large-dollar-amount loan portfolio and to make recommendations to senior management. All loan reviews are conducted at the holding company office in Kansas City, MO. 6+ years experience required. Extensive lending knowledge and well developed credit analysis abilities required. Position is

flexible and can be a 24, 32, or 40 hour work week. Apply online at Internal Auditor/Finance Position: Branson Bank, a $165 million state chartered bank with locations in Branson and Forsyth, is seeking a qualified individual to join our team. This salaried position will involve both internal audit and finance related activities. Audit responsibilities will include conducting regular audit procedures, implementing necessary controls, monitoring and reporting information, etc. on a regular basis. Additionally, this position will support the bank’s CFO in a variety of finance and operations related activities. A business or finance degree is preferred and a minimum of 5 years banking experience within these areas. Branson Bank is a local community bank with strong values and a commitment to associates who join our bank family. Please submit resume to awischmeier@ Loan administration position available. Knowledge of loan processing and lending compliance is necessary.  Experience with word and excel software is important.  Good hours, great benefits, nice working conditions.  Salary commensurate with experience.  Send resume to State Bank of Missouri, P.O. Box 303, Grain Valley, MO 64029.  EOE For information about classified advertising in The Missouri Banker, visit the MBA website at www. Or, call Sue Norfleet at the MBA at 573-6368151.

Strategies From Page 12 Deciding to only make QM loans leaves that market share to the competition. Many lenders currently choose not to make loans that qualify under the protections of the Home Owners Equity Protection Act (HOEPA) and Section 1026.32 of Regulation Z. One of the CFPB’s new mortgage rules increased the scope of loans that qualify under HOEPA to include purchase-money mortgages and even home equity lines of credit. Also, the rule changed the rate and fee thresholds for loans to qualify as covered by HOEPA. Lenders that continue to avoid HOEPA loans risk cutting into their overall market. For those HMDA reporters, there is likely to be a significant increase in the number of loans that qualify as HOEPA loans and thus will need to be reported on the bank’s HMDA-LAR. Many lenders, particularly smaller ones, have avoided

making HPMLs primarily to avoid having to establish and administer escrowing of taxes and insurance. The argument is being ignored that escrowing takes resources and systems that do not seem worth the extra effort and cost. Trend toward escrows The trend now is leaning to escrows being required for every mortgage loan, whether higher-priced or not. The change started coming a few years ago when the Federal Reserve amended Regulation Z to require escrows for certain HPMLs. And, it appears all existing mortgage loans and those made on or after July 6, 2014 that are secured by properties in designated special flood hazard areas will require escrows for flood premiums. Non-QM Loans encompass all other Regulation Z-covered mortgage loans. Such loans do not carry any sort of legal protection (safe harbor or rebuttable presump-

tion) that the ATR rules have been met. If the bank decides to take the risk of making non-QM loans, it must be prepared to demonstrate it met the ATR requirements. Proving compliance will require an evaluation of the general underwriting standards it plans to use and how the bank plans to implement these standards in evaluating individual loan applicants. I like the analogy Chuck gave us at the seminars when he said; “Because a couple kids popped gum in class, you all have to stay after school.” Because of the unsafe, unsound, unethical, illegal, unscrupulous, and stupid actions by a few big players, the rules changed for the banks that forever operated within the safe, sound, ethical, legal, principled, and sensible practices. In guidance provided regarding the ATR Requirement, the CFPB expressly recognized that in many

instances, appropriate, prudent loans will not meet the QM requirements in the ATR rules, and the CFPB encourages creditors to make non-QM loans. The key to making non-QM loans is being able to demonstrate that a consumer’s ATR determination is reasonable and in good faith. That determination will depend on the lender’s underwriting standards, and on the facts and circumstances of a particular loan and how the standards were applied. If a consumer’s ATR is determined and verified using the eight previously listed underwriting guidelines, applied with prudent, safe and sound standards, and the determination is documented utilizing reasonable thirdparty documents maintained in the credit file, there is little reason to think that making non-QM loans isn’t possible. So, what do you want to do? If you want to make residential mortgage loans,

will it work best to stay within the protections of QM Safe Harbor Loans and/or the QM Rebuttable Presumption Loans, or is demonstrating compliance with the ATR Rules enough? What about a combination? This article is for informational purposes and does not contain or convey legal advice. The information should not be used or relied upon in regard to any particular situation without consultation with your bank attorney. MBA Compliance Services and its Compliance Force offer a variety of programs to aid banks with compliance needs. Services available include on-site education, in-bank training and compliance reviews. For more information, call Carol Barnett at the MBA, 573-636-8151 or email her at

Page 14

The Missouri Banker August 15, 2013

2014 Scenes of Missouri Calendar The Missouri Bankers Association is offering a customized wall calendar for 2014, “Scenes of Missouri,” exclusively to MBA members. These calendars are a great way to thank your customers for their business and promote your bank. Rather than using stock photos and text from any calendar vendor, these full-color, high-quality calendars will uniquely promote Missouri and your bank! Your name and/or logo will be imprinted at the bottom. And you can’t beat the price – just 99 cents per calendar (plus imprint charge, tax and shipping). Photos used in the calendar are selected from among those submitted by Missouri bankers, directors, and family members. Calendar page size is 11” x 8 1/2”, calendar opened size is 11” x 18”. The imprint area is approximately 1” x 11”.













The deadline for ordering 2014 calendars will be August 30, 2013. Shipment can be expected in October. The minimum quantity that can be ordered is 100. The $50 setup charge includes typesetting text and logo placement for imprint area (in black), if needed. The setup charge is $100 for spot color (PMS) text and/or logo. Please specify if you want black or color imprint. If you have questions, please call Carol Barnett at the MBA at 573-636-8151 or email cbarnett@ Send no money now! Orders will be billed when shipped, and shipping and tax will be added at that time.

2014 Scenes of Missouri Calendar Order Form Name _______________________________________________________________ Bank ________________________________________________________________ Street Address ________________________________________________________ City/State/Zip ________________________________________________________ Phone _____________________________ E-Mail (Required for proof) ______________________________________________ Quantity (minimum order 100) @ 99 cents each ___________ Please provide us with a copy of the information you want printed on your calendar imprint area. To include your bank logo, please email a high resolution file (TIF, JPG, PDF or EPS 300 dpi file preferred) to _____ Please use same imprint from our 2013 Scenes of Missouri calendar. Proof will be sent via email. Bank/Logo Imprint Color: (The imprint area is approximately 1” x 11”.) _____ Black ($50)

____Color ($100)

Mail Order to: Missouri Bankers Association Attn: Carol Barnett PO Box 57 Jefferson City, MO 65102 Fax Order to: 573-634-2754 Email Order to: By Phone: 573-636-8151

The Missouri Banker August 15, 2013

Page 15

Most asked questions answered by MBA Title Service By Linda Petersen Title Service Manager

wrong vehicle. How do I fix that? When do I need a gift af Has our title issued yet? fidavit? Is our lien perfected? My customer got di Where was the title vorced/married and changed mailed? their name. How do I fix the title? How do I drop a name from a title? Do these questions sound My customer lost his title. familiar to you? Have you run into some of these prob How do we get a new lems? one? Can we update our lien on We’re going to make it our mission to answer these a duplicate title? questions and others in I made an error when I this space in The Missouri filed my NOL (Notice of Banker. Lien). How do I fix it? The first question regard I filed a NOL on the

ing finding out if your lien is perfected or where a title was mailed on a specific vehicle can be answered in several ways. One way is to call the Missouri Department of Revenue at 573-526-3669 and ask them your questions. The Department of Revenue also has a lookup subscription service that can give you information about your titles. These two methods are available to everyone. The phone at the Department of Revenue can be very busy creating long waits. Your local fee office will




AMERICAN MORTGAGE CONFERENCE Raleigh Marriott Crabtree Valley September 9-11 For More Information Contact Blaine Wiles, 800/662-7044 or

sometimes be able to help you. Members of the MBA Title Service can call us at any time and we will answer your questions quickly and accurately. You can also fax or e-mail us your questions. The biggest advantage to MBA Title Service members is quick answers that are geared to what you need as a lender. We are the only

ones to offer answers from a banker’s point of view. The DOR is not always familiar with what the lender needs. You must be an MBA member to join the MBA Title Service. Membership fees are based on your asset size. However, we are always happy to answer general questions from non-title service members. Just call me at 573-636-8151.

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The Missouri Banker August 15, 2013




GENERAL INFORMATION ________________ Fees - The MBA member registration fee is $345.00. The non-member registration fee is $650.00. Fees include meals, the reception, refreshment breaks, and conference materials.

Cancellation Policy - Full refunds will be granted for cancellations received at the MBA office by September 9, 2013. After that date, an administrative fee of $30 per canceled registration will be retained. Cancellations will not be accepted after September 13, 2013, and no refunds will be given. Substitutions are always permitted. Registrants are responsible for canceling their own hotel reservations. HOTEL INFORMATION The conference will be held at Tan-Tar-A Resort on the beautiful Lake of the Ozarks. The room rate will be $121.00 per room, per day, plus tax for single or double occupancy. Hotel accommodations can be secured by using the reservation form or by calling (573) 348-3131. Rooms will be available at 4 p.m. the day of check-in.


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Flood Insurance Issues Robert Butler Department of Homeland Security Federal Emergency Management Agency

WEDNESDAY, SEPTEMBER 18, 2013______ 3:00 - 5:30 p.m. Registration 3:30 - 4:30 p.m. General Session

THURSDAY, SEPTEMBER 19, 2013 _______ 7:45 a.m. - 1:00 p.m. Registration & Exhibit Showcase Open 7:45 - 8:30 a.m. Continental Breakfast 8:30 - 8:45 a.m. Call to Order 8:45 - 9:45 a.m. General Session

2:15 - 2:30 p.m. 2:30 - 3:30 p.m. 3:30 - 3:45 p.m. 3:45 - 4:30 p.m.

The Future of Real Estate Lending Moderator - Chuck Lewis

Washington Review Richard R. Riese American Bankers Association

9:45 - 10:00 a.m. 10:00 - 11:00 a.m.

Panelists Rick Hollenberg Central Mortgage Company

Refreshment Break & Exhibit Showcase General Session

Michael Hoff Community First Banking Company

Dodd-Frank Rules – the Condensed Version Denny Deischer, CRCM Chuck Lewis, CRCM Missouri Bankers Association

11:00 - 11:15 a.m. 11:15 a.m. 12:15 p.m.

John Klebba Legends Bank

4:30 - 5:30 p.m.

12:15 - 1:15 p.m.

Luncheon -- Drawings for Exhibitor Prizes

1:15 - 2:15 p.m.

Three Concurrent Special Interest Sessions Handling Garnishments Jeffrey S. Heuer Husch Blackwell LLP

2013 Compliance Conference

Please register the following individual(s) for the 2013 Compliance Conference.

Phone ___________________________________ FAX Number ________________________

Names of Attendees (Information below will be used for nametag)


11:15 a.m.




 Check enclosed, payable to Missouri Bankers Association  Bill my organization.  Credit Card Payment - Only VISA and MasterCard are accepted for payment. 



Exp. Date________________No. __________________________________________ Print Name ______________________________ Signature _____________________


Fax completed form to (573) 634-2754

By Mail

Complete and mail form with fees to: Missouri Bankers Association P.O. Box 57 Jefferson City, MO 65102

By Phone

Call the MBA at (573) 636-8151

Name ________________________________________________________________________ Title______________________________________City ______________________________ E-Mail______________________________________________________________________

Fair Lending Focus Chuck Lewis and Friends

Non-Member Registration Fee .........................$650.00 #_________$_______________

Name ________________________________________________________________________ Title______________________________________City ______________________________

Regulator Breakout Sessions Refreshment Break Closing General Session

Member Registration Fee .................................$345.00 #_________$_______________

Address _____________________________________________________________________ City/State/Zip ________________________________________________________________

9:15 - 10:15 a.m. 10:15 - 10:30 a.m. 10:30 - 11:15 a.m.

Method of Payment

Bill to Bank/Firm ___________________________________________________________________

Compliance Games

FRIDAY, SEPTEMBER 20, 2013 ___________ 7:15 - 8:00 a.m. Buffet Breakfast 8:00 - 9:00 a.m. Peer Group Sessions 9:00 - 9:15 a.m. Refreshment Break

Refreshment Break & Exhibit Showcase General Session Continues

Registration Request

Refreshment Break Concurrent Special Interest Sessions Repeat Refreshment Break General Session