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The Missouri Banker Volume 70, Number 1 • THE NEWSPAPER OF THE MISSOURI BANKERS ASSOCIATION • Thursday, January 16, 2014

Get your cameras ready for Scenes of Missouri calendar photo contest MBA is now accepting photos for consideration for the 2015 MBA “Scenes of Missouri” calendar featuring photographs sent in from MBA Member bank employees, directors, and their family members. Over the past seven calendars, dozens of Missouri photographers have had their photos featured. You could be next! Sold exclusively to banks throughout Missouri, these calendars make fantastic gifts for customers to enjoy year-round and to promote your bank. And, the photo in the calendar that is judged “Best in Show” will win $100 for the photographer!

Only digital photos are being accepted for consideration by emailing them to or submitting them on a cd. Photo entries may be submitted up until May 1, 2014. For complete entry details and a photo contest entry form, go to and click on “Scenes of Missouri Calendar” under the Products and Services header. If you have any questions, contact Carol Barnett at the MBA at 573-636-8151 or email her at

Beginning Farmer Loan Program increased

The Internal Revenue Code had been amended to increase the maximum amount for the Beginning Farm Loan Program to $509,600. The program is designed to encourage lenders to offer lower interest rate financing to those starting a career in production agriculture. The Missouri Agricultural and Small Business Development Authority (MASBDA), housed at the Missouri Department of Agriculture, administers the farmer loan program which, in cooperation with local lenders, assists beginning farmers across the state in acquiring agricultural property at reduced interest rates.  The program enables lenders to receive federally taxexempt interest on loans made to beginning farmers.  The tax savings are passed on to beginning farmers in the form of lower interest rates.  To qualify as a beginning farmer, an See Beginning Farmer, Page 3

Technology trends: What’s coming in the next 5-7 years? By Jack Vonder Heide Which new technologies will change banking and which will prove to be nothing but hype? There are several emerging trends that could have Jack Vonder Heide a significant impact and banks should carefully monitor them. Data storage cost First, the cost of data storage has dropped exponentially during the past decade and is predicted to drop at an even steeper rate over the next few years. This means that banks should be able to

store literally every bit of information they have, indefinitely, at a very low cost. Data analysis and logic tools Second, data analysis and logic tools are becoming more robust, more intuitive and easier to use. Banks will be able to make practical use of the data under their control without a lot of IT expertise. For example, if a customer was coming in for a meeting, their banker could request a two-page summary of the client’s background and banking relationship and the report would be generated instantly. Marketing tools Third, custom marketing

tools will enable banks to promote the exact services and products their customers need at the exact time when they are most likely to buy. If a bank offered a zero percent teaser rate on a credit card for 12 months and wanted to market the card to existing customers who had credit cards with competing banks, a few simple commands would set everything up. When an existing customer went online to pay their monthly bill for a competitor’s card, they would be displayed with personalized information on how much money they could save by transferring the balance to a new card. Mobile payments Fourth, mobile payments will become more flexible. Traditionally, when a business applies for a credit card with the bank, a list of authorized users is provided and each user is issued his or

her own credit card. In the future, customers will be able to authorize any employee to make one-time charges on the company account. For example, if a restaurant wanted to authorize a kitchen worker to purchase dishwasher detergent at a wholesale warehouse, a QR code could be sent to the employee’s smartphone. When the employee arrived at the point of sale, the QR code would be scanned and a onetime charge to the company’s account would be authorized. Authentication technology Fifth, new advances in authentication technology will make account takeover more difficult. Voice recognition will enable a mobile user to access an account by repeating three random words that the system generates. If the words are spoken in the correct sequence and the voice print matches what the bank has on file, the customer will

Visit our web site at

be authenticated. Another method allows the customer to use a smartphone’s camera to take a picture of their eye. The photo is compared to the bank’s photo and, if they are a match, account access is granted. These are just a few of the promising technologies we can expect to see during the coming years. It is important for every bank to plan a technology strategy that provides outstanding customer service while maintaining proper cost controls. We are in for some exciting times! Jack Vonder Heide with Technology Briefing Centers, Oak Brook, IL, will be a general session speaker at MBA’s 2014 Technology Conference set for Feb. 11 and 12 at Tan-Tar-A Resort. He will speak at two sessions about new technologies. Visit the MBA website at www. for more information or turn to Page 16.

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The Missouri Banker January 16, 2014

Lobbyist’s Update

Session starts with ambitious agendas Craig Overfelt Senior Vice President Missouri Bankers Association

I’m starting my 32nd legislative session lobbying for the MBA and other financial interests. Each session starts with much anticipation as legislative 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

leaders and the governor put forth ambitious agendas. In Missouri, we have divided government with the legislative branch run by Republicans and the executive branch in Democrat hands. The GOP super majorities in both the House and Senate created a rare showdown during the annual veto session last September. A record number of vetoed bills were overridden and put into law. It remains to be seen how the legislative process will be affected by the veto session results. Will the governor’s office become more involved in the crafting of legislation? Will the GOP legislature continue to pass its priority bills with or without input from the governor’s office? Another development late in 2013 was the special session to attempt to entice Boeing to expand in the

St. Louis area. Lawmakers and the governor’s office worked together to quickly pass legislation. Will that cooperation carry over to this legislative session? One thing is certain … 2014 is an election year and the looming elections will most certainly play a role, as candidates begin filing for office on Feb. 25. HHHHHHH MBA has a busy agenda for banking related legislation this session, including bills to: • Reign in patent trolls and the unwarranted demand letters for payment by banks and small businesses on phony patent claims. • Update the legislation passed last session dealing with UCC Article 9. • Restore the intent of a condominium limited priority lien law following a negative Missouri

Supreme Court decision. • Provide banks and savings institutions with the same proportional income tax cut given to other Missouri corporations. • Prohibit pension advances to public employees. In addition, there will be many bills introduced that will have a negative impact on the banking industry. MBA expects to oppose legislation to allow a lien for the purchase of delinquent real estate taxes. With this in mind, I urge you to schedule a Target Banker visit this

session. There are so many lawmakers with very little experience and your contacts and grassroots efforts are the most important part of any successful legislative session for the industry. Earlier I discussed this being the start of my 32nd legislative session. There are many lawmakers who aren’t even 32 years old. The importance of getting your younger bank leaders to participate in the Target Banker program has never been more evident. Grassroots and banker involvement … I will be consistent on this message!!

Missouri Senate and House Makeup Senate 24 Republicans 9 Democrats 1 Open

House 108 Republicans 52 Democrats 3 Open

In Memoriam R. Crosby Kemper, Jr., passes at age 86 R. Crosby Kemper, Jr., long-time Kansas City businessman, philanthropist and civic leader, died at the age of 86 on Jan. 2. Kemper was chairman emeritus of UMB Financial Corporation and had been serving in various roles across the company since 1950. Born in Kansas City, Mo., R. Crosby Kemper, Jr., only son of R. Crosby Sr. and Enid Jackson Kemper, was born Feb. 22, 1927. Kemper’s banking career spanned more than five decades from his start at age 22 at his father’s City National Bank as a night transit clerk—where he met trains and sorted checks—to senior chairman of the multi-bank holding company now known as UMB in 2001. He retired from UMB in 2004, leaving the banking legacy to the next generation. At that time, his son J. Mariner Kemper became the sixth Kemper to lead the company. Mr. Kemper had seven children between his marriages to Cynthia Warrick Kemper and Mary “Bebe” Stripp Kemper and is survived by: R. Crosby Kemper III, Pamela Kemper Gabrovsky, Sheila Kemper Dietrich, Alexander C. “Sandy” Kemper, Heather Kemper Miller, J. Mariner Kemper and Mary Kemper Wolf. By his children, Kemper was often quoted for the importance of “doing what’s right, not what’s popular,” and served as a role model for civic activity. He is

also survived by 22 grandchildren and two great-grandchildren. Memorial contributions may be made to the Agriculture Future of America, American Royal, Phillips Academy, Kansas City Symphony, and the Kemper Museum of Contemporary Art. A website was created in R. Crosby Kemper Jr.’s honor that includes a full biography, photos, videos and legacy information: J. Lyle (Bud) Wells Jr. passes away Dec. 25 J. Lyle (Bud) Wells, Jr., passed away Dec. 25, 2013. He was 85. Mr. Wells joined UMB Bank in 1956. As a UMB associate, he served as an advisory member on the boards of UMB Financial Corporation, UMB Bank, NA, and UMB’s Kansas City Metro Region. Mr. Wells and his late wife, Anne, hosted UMB correspondent events in the Midwest for more than 40 years. Mr. Wells is survived by his son, Lyle Wells III and two daughters, Marianne Wells and Linzee McCray. The family suggested memorial contributions to the Boy Scouts of America or the Children’s Therapeutic Learning Center. Condolences to the Wells family may be sent in care of Jeff Goble, 1010 Grand Ave., Kansas City, MO 64141.

The Missouri Banker January 16, 2014

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2014 renewals successful for MBA VEBA By John Hunt Vice President MBA Bankers Benefit Corporation The Affordable Care Act (ACA) created significant consternation for many Members of MBA VEBA as they John Hunt considered their Jan. 1 major medical renewal. Even though the much discussed Employer Mandate was delayed until 2015, other major provisions of Federal Health Care Reform still apply in 2014. These include the Federally Facilitated Marketplace in Missouri, elimination of pre-existing condition limitations, removal of dollar limits on coverages and rate

revisions in the small group marketplace. Added to concerns about compliance with Health Care Reform was the need for an overall rate increase requested of MBA VEBA participants. While available benefit plans remain unchanged, the cost increase is an example of what has become the unfortunate norm in employee benefit plans. In the short term, staff and Trustees at MBA VEBA would count the January renewal cycle a strong success. The VEBA Trust retained 96 percent of its 2013 enrollment and the net impact on revenues provided exactly the increase needed to fund claim payments and support proper reserves in 2014. Now, the really hard work begins! VEBA plans are fully ACA compliant, but the es-

tablished cycle of premium increases related to the steadily rising cost of health care is not sustainable. Certainly, some VEBA member banks renewed their plans under a degree of duress and everyone remains concerned about overall plan costs. In the next few months, MBA VEBA staff and the

Trustees will be reviewing plans, processes, underwriting and rates in a search to find answers to these continuing questions. It is necessary for MBA VEBA to continue its evolution and, rather than being pleased about 96 percent retention in a renewal cycle, move to enrollment growth and

Beginning Farmer

from Page 1

applicant must meet the following criteria: 1. Borrowers must be legal Missouri residents at least 18 years old. 2. Borrower must be able to provide

proof of citizenship, identity and legal Missouri residence.

3. The agricultural property must be

located within Missouri.

4. The beginning farmer is one who

has not owned, either directly or indirectly, more than 30 percent of the median size of a farm in the county.

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innovation for the long term. The next few months will be focused on the future, looking one to five years out and trying to clearly see into the crystal ball of Health Care Reform. Through it all, our commitment to preserve and add value to MBA VEBA for the benefit of member banks and their employees is unwavering.

After the loan is closed, the borrower’s chief occupation must be farming or ranching, gross farm income must exceed any off-farm income (spouse’s off-farm income does not count in determining eligibility). 6. Individuals in partnerships are eligible for loans if all partners meet the eligibility requirements. If you have any questions, please do not hesitate to visit our website at www.mda., or give our office a call at (573) 7512129. 5.

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The Missouri Banker January 16, 2014

Regulation X (RESPA) 120-day hold for small servicers By Keith Thornburg MBA General Counsel Many of our banks qualify as “small loan servicers” and have been exempted from some of the burdensome and costly new requirements that the CFPB has imposed on large loan servicers, particularly with regard to the early intervention and “loss mitigation” procedures that are intended to assist borrowers that have fallen into default. The basis for the exemption is that these banks (small servicers) have typically originated these loans in their home communities. They know their customers, and community banks have always been knowledgeable and responsive to their customers’ circumstances and needs. Our small loan servicer banks have raised the question of whether they are subject to the “120 day hold” in delinquency status for the “first notice or filing” (i.e. initiating a foreclosure) since small servicers are exempted from significant portions of the CFPB’s new subpart C addition to RESPA/ Reg X / (12 CFR parts 1024.30 to 1024.41). Small servicers are specifically exempted from 12 CFR parts 1024.38 through 1024.41. While small servicers are generally exempted from 12 CFR 1024.41, including 12 CFR 1024.41(f) that establishes the general 120 day hold

– there is an express carve out that is both called out from the exemption and that expressly sets out a 120 day hold that does apply to small servicers, within this group of regulations at 12 CFR 1024.41(j). Essentially small servicers are NOT exempt from 12 CFR 1024.41(j) AND this section states an express and separate small servicer 120 day hold. This is pretty complex drafting and the awkward presentation in the regulations has resulted in confusion. Here is the exemption including the carve-out from the exemption related to 1024.41(j): 12 CFR 1024.30 (a) In general. Except as provided in paragraph (b) and (c) of this section, this subpart applies to any mortgage loan, as that term is defined in § 1024.31. (b) Exemptions. Except as otherwise provided in § 1024.41(j), §§ 1024.38 through 41 of this subpart shall not apply to the following: (1) A servicer that qualifies as a small servicer pursuant to 12 CFR 1026.41(e)(4); (Our emphasis) Small servicer is defined in Reg Z (12 CRF 1026.41(e) (4) – which definition is not at issue here. Here is the general 120 day hold associated with “loss mitigation” procedures:

12 CFR 1026.41 (addresses loss mitigation procedures) 1024.41(f)(1) provides: (f) Prohibition on foreclosure referral. (1) Pre-foreclosure review period. A servicer shall not make the first notice or filing required by applicable law for any judicial or non-judicial foreclosure process unless a borrower’s mortgage loan obligation is more than 120 days delinquent. Here is the small servicer 120 day hold that is NOT covered by the exemption AND that is written expressly to apply to small servicers: 12 CFR 1024.41(j): (j) Small servicer requirements. A small servicer shall not make the first notice or filing required by applicable law for any judicial or non-judicial foreclosure process unless a borrower’s mortgage loan obligation is more than 120 days delinquent. A small servicer shall not make the first notice or filing required by applicable law for any judicial or non-judicial foreclosure process and shall not move for foreclosure judgment or order of sale, or conduct a foreclosure sale, if a borrower is performing pursuant to the terms of an agreement on a loss mitigation option.

While small servicers are not bound under regulation or law to offer loss mitigation procedures, the drafters of 1024.41(j) apparently, in the second sentence wanted to assure that if a small servicer does choose to enter an agreement providing a loss mitigation option with the borrower – that no foreclosure process is initiated while the borrower is performing according to the agreement for, and while the loan is in, the loss mitigation status. This was likely incorporated as a pre-caution to assure no loan servicer (whether large or small) “double tracks” a borrower that is in default and participating in a loss mitigation program – by initiating the foreclosure process at the same time.  During the mortgage crisis some large servicers engaged in “double track” mitigation and foreclosure processes – either because of bureaucratic error – or – intentionally because in some states the foreclosure process takes so long that a trial modification could be dual tracked with the foreclosure process with the option of suspending the foreclosure – depending upon the borrower’s performance. The MBA appreciates the opportunity to consider your questions and to inform our membership of common concerns and challenges our members are seeing.

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The Missouri Banker January 16, 2014

What’s Next? (now that Jan. 10, 2014 has passed?) By Rob Hoff, CRCM Vice President MBA Compliance Services How many of you remember the “late”, late show host Johnny Carson? One of his regular routines was called “Carnac the Magnificent”. Rob Hoff Ed McMahon would introduce Carson by saying something like, “And now, the great seer, soothsayer, sage and former financial adviser to the Greek government, Carnac the Magnificent!” Johnny would come from behind the curtain and walk to his desk wearing a feathered turban and a cape. Carnac would then hold up an envelope to his forehead and guess the answer to the question that was concealed inside the envelope – usually for some real laughs! Yeah, so that was funny, but what does all this trivia have to do with Compliance, you ask? So just imagine Carnac today holding up an envelope to his forehead, and it has a return address from the Consumer Financial Protection Bureau (CFPB). “Carnac the Magnificent” makes

a snide look at his side kick on the couch, Ed McMahon, and says, “363 pages!” Then Carnac opens the envelope and the question was “What has CFPB done to help bankers understand all this Dodd-Frank stuff that went into effect 1/10/14?” The good news is that the CFPB is trying to help us by publishing seven different compliance guides that explain the new Truth in Lending and RESPA rules that went into effect January 10, 2014 from the DoddFrank Act. The bad news is the seven guides total 363 pages! You can access these guides through the CFPB website: regulatory-implementation/ Then you will see a list of links of the various guides that you can download in Adobe format. I’ve made a listing (see the chart at upper right) and added two columns so you can see the most recent version and issue date on that topic, and the number of pages in the guide. These really do seem to help with implementation and understanding the specific issues and questions that bankers have brought to the CFPB – much like we’re used to seeing in the Staff Commentaries to Regulation Z

CFPB Guides

Version & Last Revision V 2.2, 01/08/14 V 2.1, 01/09/14 V 2.1, 01/13/14 V 1.2, 01/13/14 V 1.2, 01/13/14 V 1.1, 01/06/14 V 2.1, 01/07/14

Ability to Repay/Qualified Mortgage 2013 HOEPA Rule Loan Originator Rule ECOA Valuations TILA HPML Appraisals Escrows TILA and RESPA Servicing and other regulations. Some important things to consider and remember – 1. If you save these guides to your PC for reference, be sure to look at the web site periodically to see if any new versions of the guide have been issued by the CFPB. 2. Subscribe to the email alerts on the CFPB site so you can keep up to date on revisions. You may also wish to subscribe to email alerts from your primary federal regulator (FDIC, FRB, OCC) for this same purpose. 3. Watch the weekly MBA Compliance Update email from Mike Noblett as it will include revisions that have been issued by the CFPB. 4. Use these guides anytime your bank is considering changes to underwriting or product terms

involving home lending. We wish you a prosperous and happy 2014 and invite you to contact the MBA Compliance Services division if we can be of assistance in implementing these new rules in your institution. This article is for information 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 program offer a variety of programs to aid banks with compliance needs. Services available include on-site education, in-bank training, compliance reviews and loan review. For more information, call Carol Barnett at the MBA at 573636-8151 or email her at cbarnett@

Compliance peer groups set meetings in Springfield, Jefferson City, Cape Girardeau Region 6 Compliance Peer Group meeting set for Jan. 23 in Springfield The Region 6 Compliance Peer Group is scheduled to meet Thursday, Jan. 23, from 2 to 4 p.m. at Empire Bank’s training center, 1828 S. Stewart St., Springfield. The format of the meeting will be an open forum.  Any questions regarding the meeting should be directed to Connie Landolt at 417-8850504. Region 4 Compliance Peer Group meeting set for Feb. 11 in Jefferson City The Region 4 Compliance Peer Group is scheduled to meet Tuesday, Feb. 11, from 1 to 3 p.m. at the Central Bank Financial Center, 111 East Miller St., Jefferson City.  The meeting will be held on the third floor and it is accessible by elevator to all visitors.  Attendees are asked to submit suggestions on topics they would like to discuss to Wendy Sullivan at the email listed below.  Please RSVP to Wendy Sullivan at wendy_sullivan@

Number of Pages 50 39 85 29 30 26 104 by Friday, Feb. 7 if you plan to attend the meeting. Region 7 Compliance Peer Group meeting set for Feb. 13 in Cape Girardeau The Region 7 Compliance Peer Group is scheduled to meet Thursday, February 13, 2014, from 1:30 – 3:30 p.m. at First Missouri State Bank, 2 South Mount Auburn Rd, Cape Girardeau, MO.  Robert Butler, Insurance Specialist, with the Department of Homeland Security/FEMA, Region VII from Kansas City will be the guest speaker. Butler will present a program on the Biggert-Waters Flood Insurance Reform Act addressing expected changes affecting FEMA, financial institutions, consumers and businesses located within a special flood hazard area and tips to reduce flood insurance premiums on properties located in a flood hazard area. Please RSVP to Terri Owens at by Monday, Feb. 10, 2014 if you plan to attend the meeting.

Principles of Banking Class set in March

A two-day AIB Principles of Banking Class will be held on March 19 and 26 in Jefferson City at the MBA Office. The class presents an overview of the fundamentals of banking as well as contemporary issues and developments in the industry today. It is the only class that is needed for all AIB diplomas and certificates. The class begins at 8:15 a.m. and adjourns at 4:30 p.m. There will be a one-hour break for lunch on your own. For more information, visit the MBA website at www. or call 573636-8151

The Missouri Banker January 16, 2014

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Interest rate risk: A priority for 2014

By Jeffrey F. Caughron Associate Partner The Baker Group LP

Banking environment As we move into a new year, the US economy continues to plod along at a slow and steady pace. Things are getting better, but we’re still far from where we were before the “Great Recession” began. Meanwhile, the banking landscape has improved markedly as earnings clocked 16 consecutive quarters of year-over-year increase. Returns on assets remain below pre-recession levels, but they’re higher than a year ago and comfortably above one percent. Much of the improved performance comes from healthier asset quality. Loan losses have declined to levels not seen since 2007, and provisions have fallen nearly forty percent. All of this is good news, but make no mistake; banks face a multitude of challenges ahead. Spotlight on interest rate risk Not the least of these challenges is that of potential interest rate risk (IRR). Regulatory agencies have once again elevated IRR as a focal point for examiners, as evidence suggests that many financial institutions are taking on higher levels of interest rate risk. Balance sheets have changed noticeably in recent years as loan demand has been weak and short-term rates have hugged historic lows. This could leave them significantly exposed to a sustained increase in interest rates. In October, the FDIC released an FIL on Sensitivity to Market Risk. Simultaneously, the OCC conducted a webinar to address the IRR issues they thought most important. There is a consensus among regulators that the essential risk for banks stems from long-term (or high duration) assets funded by non-maturity

deposits that have surged into bank balance sheets in the wake of the Great Recession. The influx of “surge deposits” has regulators concerned about the potential for fast rising interest expense from rate sensitive liabilities. At the same time, asset values could come under greater pressure than in past rate cycles because effective durations are relatively high. The price risk of some investment portfolios has increased significantly in the past few years due to lengthened maturities, options risk, and declining yields. Management tools The regulatory concerns should cause bank mangers to ponder several questions about the reporting tools that they have at their disposal: 1. Do we have reports that project securities depreciation relative to capital in a rising rate environment? 2. Does our IRR model shock the fair value of regulatory and risk-based capital ratios as well as simple equity capital? 3. Do we have a way to model faster re-pricing liabilities relative to earning assets? 4. Are “floors” on loans modeled properly in our IRR system? 5. Do we have reports that show how our balance sheet liquidity is affected by rising interest rates? 6. What if we just want to look at securities cash flow? Risk Management decision-making depends on thorough and meaningful data in a usable report format. The five questions above are good ones to consider when assessing the adequacy of an IRR reporting system. Risk, capital, and stress tests It makes good sense to measure and monitor the relationship between unrealized losses and capital. And this extends to various measures of capital itself. For example, if we apply the mark-to-mark

adjustment for securities to risk based capital measures, we can more closely capture a total picture of the bank’s relative risk. All else being equal, a bank that makes relatively few loans can sometimes justify a higher level of interest rate risk than a bank with a high loan/deposit ratio. Similarly, well-capitalized banks with pristine asset quality can tolerate more interest rate risk than those with high “Texas Ratios.” Institutions should run stress tests on assumptions for

non-maturity deposits in IRR models to identify exposure to rising rates and higher interest expense. Back tests and assumptions reviews should ensure that floors on loans are being modeled properly. The dynamics of balance sheet cash flows should be reported and reviewed, and investment cash flow projections tracked for different rate environments. Banks have again been given a “heads up” from examiners on interest rate risk. With proper reporting tools, good policies, and sound processes,

the regulatory challenge can be met and the potential risks managed for a smooth and profitable 2014. The Baker Group LP is an Associate Member of the Missouri Bankers Association. The company is the sole authorized distributor for the products and services developed and provided by The Baker Group Software Solutions, Inc. For more information, contact Jeff Caughron at The Baker Group: 800-937-2257,, or email:

IRA seminars on education schedule MBA is holding two seminars to help bankers with their IRA business. The February IRA Update Seminar will build on the bankers/ knowledge of IRA basics and address some of the more complex IRA issues financial organizations may handle. The IRA Update Seminar is scheduled for Feb. 11 in Cape Girardeau, Feb. 12 in Columbia, and Feb. 13 in Springfield. The IRA Essentials Seminar planned for April will focus on the basics of IRAs. This class is designed for bankers beginning to work with IRAs, and no IRA knowledge is

assumed. (Participants should take a hand-held calculator.) The IRA Essentials Seminar will be held April 22 in Cape Girardeau, April 23 in Columbia, and April 24 in Springfield. Each seminar will begin at 8:30 a.m., with registration opening at 8 a.m. Lunch will be served at noon, and the class will adjourn at 3:30 p.m. For more information, visit the MBA website at or call the MBA 573-636-8151.

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The Missouri Banker January 16, 2014

Missouri banks continue to support Segs4Vets ...

West Plains Bank and Trust Company competed for the second year against Howell County employees with a scooter race around the West Plains Courthouse Square to raise funds for Segs4Vets. As part of the festivities, onlookers could purchase hot dog lunches with the proceeds going to Segs4Vets. The bank’s events raised more than $5,000.

First State Community Bank, Ironton, hosted a pancake breakfast as a fundraiser for Segs4Vets, in the photo below. Employees at Community First Banking Company, West Plains, display a presentation check that represents what they raised through casual days, luncheons, and the sales of the bank cookbook. The bank also offers extra time off for employees who sign up for a payroll deduction to Segs4Vets.

Scott Nelson, left, Macon-Atlanta State Bank, Macon, is a member of the Board for Segs4Vets. He took part in a recent Segs4Vets presentation at San Antonio, Texas, with Lt. Col. Bryan Forney who was injured during Exercise Cobra Gold 2013 in a helicopter crash and Col. H. C. Barney Barnum, a Medal of Honor recipient. One of the ways Scott raises money for Segs4Vets is cooking an Italian lunch for bank employees and directors.

The Missouri Banker January 16, 2014

Page 9

... with fundraisers, community events, donations

Employees at Wood and Huston Bank, Marshall, rode in a float at the community’s Cornhusker Festival to promote the bank’s 5K run to support Segs4Vets. Segs4Vets recipient Chris Stout also took part in the parade to help promote the run.

MBA member banks, their employees and customers helped to provide $47,995.67 for Segs4Vets, MBA’s designated charity, in the 2013 fundraising campaign. Since 2009, $198,584 has been donated by MBA members. Segs4Vets provides Segway mobile transporters to soldiers who have received traumatic injuries in service to America. It is recognized as one of the country’s top charities. Thank you to the following banks and individuals who were a part of the 2013 effort. • • • • • • • • • • • • • • • • • • • • • • • • • •

Bank of Advance, Advance Bank of New Cambria, New Cambria Bank of Bolivar, Bolivar Century Bank of the Ozarks, Gainesville Commercial Bank, St. Louis Community First Banking Company, West Plains and Mountain Grove F & C Bank, Holden Federal Home Loan Bank of Des Moines, Sales and Member Financial Services Departments, Des Moines, Iowa First Community National Bank, Steelville First State Bank, St. Robert, Richland and Iberia First State Community Bank, Ironton Hawthorn Bank, Jefferson City Heritage State Bank, Nevada Kenneth W. and Ann Littlefield, Jefferson City Lamar Bank and Trust Company, Lamar Legacy Bank and Trust, Rogersville Legends Bank, Linn Macon Atlanta State Bank, Macon Mark and Margaret Goodin, Bowling Green MBA Staff Missouri Bankers Association Midwest Independent Bank, Jefferson City Pony Express Community Bank, St. Joseph Regional Missouri Bank, Marceline and branches West Plains Bank and Trust Company, West Plains Wood & Huston Bank, Marshall

In photo above, the Marshall community turns out for the 5k run Wood and Huston Bank sponsored to raise funds for Segs4Vets. In photo below, Segs4Vets recipient Chris Stout is with two veterans from the Marshall area.

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The Missouri Banker January 16, 2014

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Agenda January 2014 19 - 24 School of Bank Management, Stoney Creek Inn, Columbia February 2014



Directors College co-sponsored by FDIC, Missouri Division of Finance and the MBA, Columbia


Technology Conference, Tan-Tar-A Resort, Osage Beach


IRA Update Seminar, Cape Girardeau


IRA Update Seminar, Columbia


Ag Seminar with Dr. David Kohl, Columbia


IRA Update Seminar, Springfield


Employment Law Compliance for Banks, Columbia

March 2014 3 - 7

School of Compliance, Stoney Creek Inn, Columbia

8 - 14

School of Lending, Stoney Creek Inn, Columbia

11 - 13 Graduate School of Lending, Stoney Creek Inn, Columbia 26-27

Tri-State Leadership and Human Resources Conference, DoubleTree, Overland Park, Kan.

April 2014 10

MBA Board Meeting, Jefferson City


IRA Basics Seminar, Cape Girardeau


IRA Basics Seminar, Columbia


IRA Basics Seminar, Springfield


Women Bankers Conference, Tan-Tar-A Resort, Osage Beach

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 Coalition of Bankers Associations web site at To receive a link to the survey contact Mike Noblett at the MBA via email at

The Missouri Banker January 16, 2014

Page 11 Paid Advertisement

Winning the Performance Challenge For 35 years, The Baker Group has helped community financial institutions steer through unpredictable economic environments with the use of robust tools and resources for interest rate risk and investment portfolio management. Moving through 2014, we must set our focus on strategies that raise our performance and meet new challenges. Our task is to help financial institutions develop effective processes and strategies for optimal performance in any environment.

Our proven approach of total resource integration utilizing software and products developed by Baker’s Software Solutions* — combined with our solid investment experience and advice — makes us the investment firm of choice for financial institutions. When facing the challenge of an uncertain environment, The Baker Group can help you win the performance challenge.

Asset/Liability Management for High Performance Evaluate Earnings and Capital at Risk Simulate Stressed Rate Scenarios Analyze Risk Management Strategies

High Performance Investment Strategies Develop Quarterly Strategies Determine Optimal Relative Value Manage Risk vs. Reward Tradeoff

Education for High Performance Tailored Board Education Webinars for ALCO Interest Rate Risk Seminars

To find out how The Baker Group can assist your institution in defining and meeting its financial objectives, call your Baker representative or Ryan Hayhurst at 800.937.2257.

Member: FINRA and SIPC Oklahoma City, OK | Austin, TX | Birmingham, AL | Indianapolis, IN | Salt Lake City, UT | Springfield, IL | 800.937.2257 *The Baker Group LP is the sole authorized distributor for the products and services developed and provided by The Baker Group Software Solutions, Inc.

Page 12

The Missouri Banker January 16, 2014

MBAds UMB is hiring a Compliance Analyst at our downtown headquarters. This person will assist the Banking Operations Compliance Manager in the execution of an effective consumer compliance program to assure UMB Bank, n.a. maintains the required level of compliance set forth by the regulatory agencies.  Participating in meetings with business units to identify gaps within current practices and regulatory requirements and then rectifying the process to ensure regulatory compliance is a large component of this role.  This person will also be charged with acting as a resource to different line of business leaders.  Apply online at CREDIT ANALYST: Peoples National Bank, a 100+ year old community bank headquartered in Mt. Vernon, IL, is seeking qualified candidates for a Credit Analyst position for the branch in Clayton, MO. Applicants should demonstrate at least five years of relevant experience and have in-depth knowledge of commercial and commercial real estate lending practices and financial

analysis. Responsibilities will include performing commercial credit analyses, concentrating on complex credits, investigate and identify credit risks, and monitoring compliance with bank policy. Applicant must have effective communication skills, organization and time management skills, and be computer proficient. Salary commensurate with experience; generous benefits package offered. To apply, please print and complete the application located on our website: php?page=careers EOE/AA Employer Loan Review Officer: A strong community owned bank with multiple facilities in North Central Missouri and headquarters located in a town of 3,000+. Total assets of $350 million. Seeking an experienced loan review officer. Credit analysis abilities and Agricultural lending experience required. Interested parties should respond to Loan Review Officer Missouri Bankers Association, Department A, PO Box 57, Jefferson City MO 65102.

Central Bancompany, a $10 billion holding company, is pleased to announce the following employment opportunity: Compliance Manager: Qualifications include but are not limited to: a Bachelor’s degree in Business Administration or related field preferred or equivalent of five years banking experience; must be or work toward becoming a CRCM; knowledge of banking laws and regulations; strong communication and interpersonal skills including the ability to effectively interact with management and persuasiveness to solicit management and employee cooperation; ability to read, analyze and interpret complex laws and regulations; and strong personal management skills,

ABA National Conference for Community Bankers February 16–19, 2014 JW Marriott Desert Ridge | Phoenix, Arizona

Generation next: Customers, Employees, Technology

Ever wonder what the banking industry will look like five, 10, even 20 years from now? Explore the possibilities at the ABA National Conference for Community Bankers. Our sessions and speakers will offer insights and advice on the latest industry developments, legislative and regulatory actions, and products and services available to community bankers. You’ll also find plenty of networking opportunities, from roundtable discussions to memorable receptions. For details and to register, visit

including time management and organizational skills with an attention to detail. and an invoice will be mailed to you. Logo insertion charge, $12.50.

For a full description of the position or to submit an application, please visit us at www.

Classified advertisements are posted on the public side of the MBA Web Site at no extra charge for the same time period as advertised in The Missouri Banker.

AAP Employer M/F/D/V Supporting a Drug Free Work Environment We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. The Bank of Grain Valley is seeking a loan officer with 3 to 5 years of local lending experience. Email resume and wage requirement to blefko@ Deadline to place a classified advertisement in The Missouri Banker is five days prior to publication date. Email ads to snorfleet@mo-

Classified ad rates are as follows: • $1.00 per word for one issue • $1.50 per word for two issues • $2.00 per word for three issues

ABA sets two important meetings The American Bankers Association has two important meetings scheduled for February and March. The National Conference for Community Bankers will be held Feb. 16 to 19 in Phoenix, AZ at the JW Marriott Desert Ridge. The GR Summit will be held March 24 to 26 in Washington, D.C. This meeting affords bankers the opportunity to meet with lawmakers and regulators to educate them about banking issues and explain the vital role banks play in the nation’s economy. Featured speakers for the GR Summit include: • Rep. Shelley Moore Capito (R-W.Va.), chairman of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit • Charlie Cook, editor and publisher of The Cook Political Report and a recognized authority on U.S. elections and political trends • Peggy Noonan, Wall Street Journal columnist, author and former presidential speechwriter. For more information, visit the ABA website at

The Missouri Banker January 16, 2014

Page 13

Bankers’ Resource Directory Auction Services

ATM Equipment/Service Bankers Security Safe and Vault Raytown...................... 877-358-0883

Diebold Hazelwood.................. 513-600-8346

Federal Protection, Inc. Springfield.................. 800-299-5400

FISERV Brookfield, WI............. 800-872-7882

Oppliger Banking Systems Olathe, KS................... 800-487-7875

Shazam Network Johnston, IA................ 800-537-5427

TransFund Tulsa, OK.................... 800-588-6816


W Purple Wave Auction Manhattan, KS............ 866-608-9283

West Central Auction Company Harrisonville................ 800-823-4094

Bank Compensation Consulting, Inc. Plano, TX.................... 800-781-2099

Bank Financial Services Group Equias Alliance

Cape Girardeau.......... 573-335-0187


Springfield.................. 417-865-8701

St. Louis...................... 314-983-1200

CliftonLarsonAllen St. Louis...................... 888-529-2648

Cummings, Ristau & Associates, PC St. Louis...................... 888-616-2727

KPM CPAs Springfield.................. 417-882-4300

KPMG LLP Kansas City................. 816-802-5200 St. Louis...................... 314-444-1400

McGladrey, Inc. Kansas City................. 800-274-3978 St. Louis...................... 314-241-4100

MIB Banc Services, LLC Jefferson City.............. 573-636-9555

Rolf, Perrin & Associates, P.C. Fairway, KS................. 913-671-8600

Sims & Riley LLC Overland Park, KS...... 913-649-8100

The Whitlock Company, LLP Springfield.................. 417-881-0145

Williams-Keepers LLC Columbia.................... 573-442-6171

Architects/Builders/Designers Copeland Development and Construction Company, Inc. Chillicothe................... 660-707-1412

Federal Construction, Inc. Springfield.................. 800-299-5400

W Deluxe Financial Services, Inc. St. Louis........................800-DELUXE ..................................(800-335-8931)

Check Recovery W Re$ubmitIt, LLC Louisville, KY............... 866-860-5306


Chesterfield................. 636-449-4900

Central States Capital Markets Prairie Village, KS....... 800-851-6459

Edward Jones Prairie Village, KS....... 913-262-4662

FTN Financial Overland Park, KS...... 800-307-5421 Memphis, TN.............. 800-307-5421

First Bankers’ Banc Securities, Inc. Overland Park, KS...... 866-530-2846 St. Louis...................... 888-726-2880

First Empire Securities Hauppauge, NY.......... 631-979-0097

NFP Executive Benefits Minneapolis, MN......... 612-940-2843

Raymond James Memphis, TN.............. 800-564-2249

Securities America Lavista, NE.................. 402-399-9111

Stifel St. Louis...................... 800-679-5446

The Baker Group Oklahoma City, OK..... 405-415-7200

UMB Bank, N.A. Kansas City................. 866-651-9262

Vining Sparks Little Rock, AR............ 800-733-6938

Cash Management Services FIS Birmingham, AL.......... 888-323-0310 Milwaukee, WI............. 800-822-6758

Commerce Bank Kansas City.....800-821-2182 x22488

Country Club Bank Kansas City................. 816-751-9386

First National Bank of St. Louis St. Louis...................... 877-472-6974

Great Southern Bank .................................... 417-895-4749 Chicago, IL................. 312-732-7981

MIB - Midwest Independent Bank Spectrio Oldsmar, FL................ 800-584-4653

W TextCaster Kansas City................. 816-746-6835

Computer Software & Hardware Acropolis Investment Management

BMO Harris Bank

JP Morgan Chase & Company

Prior Lake, MN............ 952-435-7747

Executive Benefits Network

Correspondent Banking St. Louis...................... 314-543-3300

Edina, MN................... 800-931-7782


Brown Smith Wallace LLC

Information Solutions

BOLI Executive Compensation


St. Louis...................... 314-231-5544

Check Printing

Banker’s Toolbox Austin, TX.................... 888-201-2231

CSI (Computer Services, Inc.) .................................... 800-545-4274

Harland Financial Solutions Lake Mary, FL............. 800-989-9009

Jack Henry Banking Monett.......................... 417-2356652

LightEdge Solution

Jefferson City.............. 800-347-4642

Pacific Coast Bankers’ Bank San Francisco, CA...... 415-399-1900

TIB - The Independent BankersBank Dallas, TX.................... 800-288-4842

Texas Capital Bank Kansas City................. 913-549-3539

UMB Bank, N.A. Kansas City................. 866-651-9262

US Bank .................................... 800-742-7462

Wells Fargo & Company St. Louis...................... 314-955-6851

Des Moines, IA............ 515-471-1256

SynTel, LLC Jonesboro, AR............ 800-898-2540

Verafin, Inc. St. John’s, NL, Canada ... 866-781-8433

Consulting & Training Services CBCS Community Bank Consulting Services, Inc. St. Louis...................... 314-863-1954

CrossFirst Advisors, LLC Overland Park, KS...... 913-754-9700

DD&F Consulting Group Little Rock, AR............ 501-374-2600

Dittrich & Associates Joplin.......................... 417-208-2100

Data Processing United Financial Services St. Charles.................. 262-376-3000

Debit and Credit Cards Security BankCard Center, Inc. Norman, OK................ 405-826-5617

Vantiv Cincinnati, OH............ 513-900-4613

Deposit Acquisition/Retention W Promontory Interfinancial Network Overland Park, KS . . . 866-776-6426

Environmental Data

John M. Floyd & Associates Baytown, TX................ 800-809-2307

Pentegra Retirement Services West Plains, NY.......... 800-872-3473

W Strunk and Associates, L.P. Kansas City, MO......... 800-728-3116

Superior Consulting Springfield.................. 417-887-2124

Terry Compliance Consulting St. Louis...................... 314-540-3122

Trileaf Environmental St. Louis...................... 314-997-6111

Page 14

The Missouri Banker January 16, 2014

Bankers’ Resource Directory Financial Education Services W EverFi, Inc. Washington, D.C......... 319-290-9804


The Plateau Group Crossville, TN.............. 800-752-8328

W The Travelers Companies, Inc. Call MBA Insurance Group at 800-234-4939

Truman Wilson & Associates BancAlliance Chevy Chase, MD....... 301-232-5400

Federal Home Loan Bank of Des Moines Des Moines, IA. . . . . . 800-544-3452

Government Agencies Missouri Agricultural and Small Business Development Authority Jefferson City.............. 573-751-2129

Missouri Development Finance Board Jefferson City.............. 573-751-8479

IRA & Qualified Plan Services

Lawrence, KS. . . . . . . 816-387-1595

Winter-Dent & Company Jefferson City.............. 573-634-2122

Investment Banking Raymond James

IT Security Services Guardian Analytics Mountain View, CA..... 650-383-9200

Insurance/Bonding W ABA Insurance Services, Inc. Call MBA Insurance Group at 800-234-4939

Agents National Title Columbia.................... 866-483-2763

AmTrust Call MBA Insurance Group at 800-234-4939


Doniphan.................... 617-748-5532

Sandler O’Neill & Partners, L.P. NY, NY. . . . . . . . . . . . . 800-635-6851

The Capital Corporation, LLC Lenexa, KS. . . . . . . . . 913-498-8188

UMB Bank, N.A. Kansas City................. 866-651-9262

Law Firms Armstrong Teasdale LLP Kansas City. . . . . . . . . 816-221-3420 St. Louis. . . . . . . . . . . 800-243-5070

Berson Law Group Leawood, KS.............. 913-397-2701

Bryan Cave, LLP Kansas City. . . . . . . . . 816-391-7649 St. Louis. . . . . . . . . . . 314-259-2000

Carnahan, Evans, Cantwell & Brown, P.C. Springfield.................. 417-447-4400

Greensfelder, Hemker & Gale, P.C. St. Louis...................... 314-241-9090

Hunton & Williams, LLP Dallas, TX.................... 214-979-3000

Husch Blackwell St. Louis. . . . . . . . . . . 314-480-1500


Kansas City. . . . . . . . . 816-983-8000

Minneapolis, MN. . . . . 800-328-4545

Kansas Bankers Surety Company Topeka, KS.................. 785-228-0000

Lee & Mason Financial Columbia.................... 888-685-8442

Lenders Insurance Solutions Group, LLC Ozark.......................... 417-581-8070

MBA Insurance Helpline Jefferson City. . . . . . . 800-234-4939

Mountain Life Insurance .Company Alcoa, TN . . . . . . . . . . 800-888-6542

Spectrum Financial Services Inc. Omaha, NE. . . . . . . . . 800-421-8339

St. Louis. . . . . . . . . . . 314-655-7001

Spencer Fane Britt & Browne LLP Kansas City. . . . . . . . . 800-526-6529 St. Louis. . . . . . . . . . . 800-862-6869

Stinson Leonard Street Kansas City. . . . . . . . . 816-842-8600

Kramer & Frank, P.C. St. Louis...................... 800-288-5437

Lathrop & Gage LLC Kansas City................. 816-292-2000

Lewis, Rice & Fingersh, L.C. St. Louis. . . . . . . . . . . 314-444-7600

Martin, Leigh, Laws & Fritzlen, P.C. Kansas City................. 816-221-1430

Martin Pringle Overland Park, KS...... 913-491-3341

Millsap & Singer, LLC St. Louis...................... 636-537-0110

Polsinelli St. Louis. . . . . . . . . . . 314-889-8000 Kansas City. . . . . . . . . 816-753-1000 Springfield.................. 417-869-3353

MBA Bankers Service Corporation’s Title Service Jefferson City. . . . . . . 573-636-8151

Missouri Corn Growers Association Jefferson City.............. 573-893-4181

Tipton Systems St. Louis...................... 800-899-2997

St. Louis. . . . . . . . . . . 314-863-0800

Thompson Coburn LLP St. Louis. . . . . . . . . . . 314-552-6000


Ross, Sinclair and Associates

Call MBA Insurance Group at

W J.T. Miller Company, Inc.

Overland Park, KS . . . 913-663-7718

Memphis, TN.............. 800-564-2249

W Ascensus Brainerd, MN. . . . . . . 800-346-3860

South & Associates, P.C.

Digital Intersection St. Louis...................... 800-221-0855

W St. Louis...................... 314-915-8738

Payment Technologies Clearent, LLC Clayton........................ 888-366-6390

FIS Jacksonville, FL.......... 888-323-3010

Jack Henry Banking Monett......................... 417-235-6652

Tipton Systems St. Louis...................... 800-899-2997

Harland Clarke San Antonio, TX.......... 800-382-0818 Farmington................. 800-382-0818

W MPI Coin Grafton, WI. . . . . . . . . 800-459-9487

W Textcaster Kansas City. . . . . . . . . 816-746-6835

Wheatland Advisors Belton.......................... 816-318-8884

Modular Banking Facilities MPA Systems, Inc. Sanger, TX . . . . . . . . . 888-233-1584

Mortgage Lending Banc Mac Pawnee, IL . . . . . . . . . 888-821-7729

Missouri Housing Development Commission Kansas City................. 816-759-6600 St. Louis...................... 314-877-1350

Mortgage Services III, LLC Subsidiary of First State Bank Bloomington, IL.......... 815-935-2300

Office Supplies & Solutions W Office Depot St. Charles.................. 636-358-9093 Overland Park, KS...... 913-358-0856

Other Financial Products & Services Affordable Equity Partners, Inc. Columbia.................... 573-443-2021

W Community Bank Services/ Raleigh, NC................ 800-662-7044

Jack Henry Banking Monett......................... 417-235-6652

Rating Services Standard and Poor’s Rating Services New York, NY.............. 212-438-2028

Resorts and Hotels Tan-Tar-A Resort, Golf Club, Marina & Indoor Water Park Osage Beach. . . . . . . 800-826-8272

Shredding Services W Cintas Hazelwood. . . . . . . . . 800-795-7368

Technology Consulting BankOnIT Oklahoma City, OK..... 800-498-8877

CalTech San Angelo, TX........... 325-223-6100

Training Services UMB Bank, N.A. Kansas City................. 866-651-9262

Travel Services ACENDAS Mission, KS. . . . . . . . . 913-671-7700 . . . . . . . . . . . . . . . . . 800-544-3019

Trust Services Citadel Trust Advisors St. Louis...................... 800-332-2963

Key MBA Associate Members and Members W Endorsed Vendors

The Missouri Banker January 16, 2014

Page 15

Bill Progress Report 01-14-2014 SUPPORT ca = committee amendment, cs=committee substitute, a = floor amendment. s = signed by the Governor





HB 1043 (1) Relating to SBA tax credits


12/ 2

HB 1218 (1) Relating to Condo liens


1/ 7

HB 1253

Relating to Taxes/ business income


1/ 8

SB 706 (1)

Relating to Patent infringement claims – Patent Trolls

Cunningham 1/13

Comm Report



Comm Report


Signed Fil/Vet


Signed Fil/Vet


Signed Fil/Vet


ca = committee amendment, cs=committee substitute, a = floor amendment. s = signed by the Governor

Bill SB 648 (1)



Relating to real estate appraisers commission



Comm Report



Comm Report


WATCH ca = committee amendment, cs=committee substitute, a = floor amendment. s = signed by the Governor





HB 1118 (1) Relating to scrap metal operators


12/ 4

SB 496 (1)

Relating to income tax


12/ 1

SB 497 (1)

Relating to personal income tax


12/ 1

SB 509 (1)

Relating to income taxes


12/ 1

SB 594 (1)

Relating to scrap metal operators


12/ 3

SB 597 (1)

Relating to scrap metal operators


12/ 3

SB 634 (1)

Relating to title insurance



Comm Report



Comm Report

Titling Tips Title on Death assures vehicles don’t go through probate By Linda Petersen Manager MBA Title Service Before we get to this month’s topic I have a short announcement. Effective Jan. 1, 2014, I will not be in the office on most Fridays. Joyce Vaught, will be here to help you as always when I am not. This is my first “baby step” toward eventual retirement. I promise you the MBA Title Service will continue as always to offer the very best service to the banks of Missouri. TOD beneficiaries A TOD (Title on Death) beneficiary can be placed on a Missouri title to assure that when someone dies that vehicle does not have to go through the Probate Court. A TOD has no ownership rights until the owner is

actually deceased. A TOD can be placed on any title except one held in a business name. It is particularly advised for vehicles owned by only one person. Multiple individuals may be listed as TOD on a title. A trust can also be a TOD beneficiary. A TOD cannot be overridden by a Court Order. A TOD beneficiary named on a Missouri title may title the vehicle in their name or sell the vehicle upon the death of the owner without obtaining a Probate Court Order. A TOD beneficiary desiring to title the vehicle in their name(s) will need: - A Missouri Title Application (DOR 108) completed and signed by the TOD beneficiary. - Proof of death. This may take the form of a photocopy of the death certificate, the newspaper obituary

or the memorial program from a church or funeral home. - The original title needs to be submitted. It can be assigned to the beneficiary and the proof of death will serve as the “signature” of the deceased. - If the deceased’s title is lost, the beneficiary can obtain a duplicate title for the vehicle in their name by submitting a notarized affidavit indicating the original title is lost. This must be done before they can sell the vehicle. - Any unreleased lien will be carried over to the new title. - Proper title fees need to be paid. No taxes are due nor do title penalties apply. The TOD beneficiary may retain the deceased’s regular stock license plate. If the deceased had

a personalized or special plate the beneficiary must purchase new plates. The TOD who sells the vehicle without obtaining title will: - Assign the deceased’s title to the purchaser. The TOD will sign and print as the seller by signing their name(s), TOD. - Provide the purchaser with proof of death as noted above. - If there is a lien on the vehicle the TOD will need to provide the purchaser with a Notarized lien release from the lender. - They will need to fill out the Notice of Sale and submit it to the Missouri Department of Revenue. - The deceased’s license plates must be removed from the vehicle and may not be placed on another vehicle.

Page 16

The Missouri Banker January 16, 2014

February 11 & 12, 2014 Tan-Tar-A Resort Osage Beach, Missouri

2014 Technology Conference Visit the MBA’s website at for a conference brochure or to register online or call MBA at 573-636-8151.



Vendor Management Program - An Enterprise-Wide Focus Susan Orr Susan Orr Consulting, LTD.

Banc Statements, Inc. Bankers Security Inc. DD&F Consulting Elliott Data System Federal Reserve Financial Services Form Zapper MIB Ncontracts PrintMail Systems, Inc. Superior Consulting, LLC Supernal Software TransFund Verafin Wheatland Advisors

Game Changers: New Technologies that are Raising the Bar for Banks Jack Vonder Heide Technology Briefing Centers IT Exams, How to Satisfy Examiners Chris Grisemer The Whitlock Company Cyber Security Landscape Joe Brennan

Federal Reserve Bank of St. Louis New Technology Approaches to Bank Operations Robert Bessel COCC New Technology Tools to Increase Marketing ROI Jack Vonder Heide Technology Briefing Centers


When Word-of-Mouth Means Counting Tweets: How to Become an iBank Jackson Hataway, Ph.D. Strategic Arts & Sciences From the Future Backwards: Knowing Next Now Lee Wetherington, AAP ProfitStars

REGISTRATION FORM - MBA Technology Conference February 11 & 12, 2014 Please PRINT or TYPE appropriate section(s) below. You may photocopy this form for additional registrants. Please enter the information below EXACTLY as you wish it to appear on your name badge and registration list.

Organization Information Bank/Firm _________________________________________________________

PAYMENT BY CREDIT CARD _____________________________  Member Fee.........................$360

# ______ $ __________

 Non-Member Fee ................$720

# ______ $ __________

Total amount due Credit Card Payment* (Please type.)


 MasterCard

*Only VISA and MasterCard are accepted.

Address ___________________________________________________________ City/State/Zip ______________________________________________________


Exp. Date ____________ No. ________________________________________


Type Name _______________________________________________________


Signature ________________________________________________________

Name of Attendee Name _____________________________________________________________________ Title ______________________________________________________________________ E-Mail ____________________________________________________________________ Spouse* ___________________________________________________________________

*Spouse must be registered to attend conference events.

You may photocopy this form for additional registrants.

PAYMENT WITH CHECK OR INVOICE _____________________  Member Fee.........................$350

# ______ $ __________

 Non-Member Fee ................$700

# ______ $ __________

Total amount due


 Check enclosed, payable to MBA.  Invoice the bank.

3 WAYS TO REGISTER ___________________________________ By Phone - Call 573-636-8151 Online -

By FAX - 573-634-2754.

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