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KBA Scenes of Kansas deadline approaching Get your photos in by June 30

•High-performance family banking pg. 12

May 2010

The magazine of the Kansas Bankers Association

PLUS: The essence of a community bank: pg. 10 TARP’s lessons for directors and officers: pg. 14

•Meet Olpe State Bank pg. 20






C ontent s Picturing Kansas pg. 3 KBA Leaders Ledger—Updates pg. 4 Briefly—Updates pg. 5 Think globally, but act locally pg. 8 Our little corner of Kansas pg. 10 Regulators inhibiting recovery pg. 11 Building a high-performance, family-owned bank pg. 12 TARP’s lessons pg. 14 Farm Credit Watch pg. 15 Security Officer’s Byword pg. 16 Washington Update pg. 18 Credit Union Monitor pg. 19 Meet a bank—Olpe State Bank pg. 20 Cover photo by Shirley Jury, Kearny County Bank, Lakin.

Eric Jorgensen, Editor

Sara Blubaugh, Advertising Manager

Kansas Bankers Association 610 S.W. Corporate View Topeka, KS 66615. 785-232-3444. Fax 785-232-3484. Send mail to: P.O. Box 4407 Topeka, KS 66604-0407. The Kansas Banker (ISSN 0028-9880) is published monthly for $25 per year plus applicable tax by Kansas Bankers Services, Inc., a wholly owned subsidiary of the Kansas Bankers Association. Periodicals’ postage paid at Topeka and at additional mailing offices. With the exception of official Association announcements, the Kansas Bankers Association disclaims responsibility for opinions expressed and statements made in articles or advertisements published in The Kansas Banker. POSTMASTER: Send address changes to P.O. Box 4407, Topeka, KS 66604-0407



Volume 100/Number 5 The mission statement of the Kansas Bankers Association is: To support and assist Kansas banks and Kansas bankers.

Kansas Bankers Association Board of Directors and Voting Members Chairman Jeannette Richardson, Farmers National Bank, Hutchinson Past Chairman David Herndon, First State Bank of Kansas City, Kansas City Chairman-Elect John E. Boyer IV, KANZA Bank, Kingman Treasurer John Lehman, First National Bank, Girard Immediate Past Chairman Steve McSpadden, Union State Bank, Winfield Term Expires August 2010 Sue Hart, Great Western Bank, Shawnee Mission Joe Smith, Farmers National Bank of Kansas, Walnut Roger Kepley, INTRUST Bank, Wichita Ted Starr, Citizens State Bank & Trust Co., Hiawatha Michael Mense, State Bank, Hoxie Dave Long, First National Bank, Cimarron Term Expires August 2011 Greg Sims, Town & Country Bank, Leawood Michael Ewy, Community State Bank, Coffeyville Paul Boeding, Baileyville State Bank, Seneca Kyle Russell, Versus Bank, N.A., Derby David Brownback, Citizens State Bank, Ellsworth Kelly Mason, First National Bank, Pratt Term Expires August 2012 John Danler, Girard National Bank, Yates Center Julie Hower, Farmers & Drovers Bank,Council Grove Calvin Coady, Bankers’ Bank of Kansas, NA, Wichita Robin LacKamp, Peoples Exchange Bank, Belleville Scott Chipman, Fidelity State Bank & Trust Company, Dodge City At Large Representatives 1 Yr.: Tom McGavaran, State Bank of Delphos, Delphos 2 Yr.: Frank Carson III, Carson Bank, Mulvane 3 Yr.: Kendal Kay, Stockgrowers State Bank, Ashland Trust Division President Mike Sears, Great Plains Trust Co., Shawnee Mission Ag Bankers Division President Dan Heinz, INTRUST Bank, Wichita YBOK Division President Alex Williams, The Halstead Bank, Halstead

pICTURiNG kANSAS your photos from around kansas


A bridge to somewhere This picture of a creek-crossing bridge was taken by Gayle Ballard, sister of Ronda Whelchel, Community National Bank, Chanute. According to the Kansas Department of Transportation, there are 25,464 bridges in the state, which is fourth most in the country. To order an official Kansas Bankers Association calendar, ‘KBA Scenes of Kansas,’ e-mail Sara Blubaugh at

How do you picture Kansas? We want your snapshots of Kansas and Kansas events, art, curiosities, weather and more. Pictures to be sumbitted for the 2011 calendar need to be taken July 1, 2009-June 30, 2010. E-mail high-resolution digital files (300 PPI at 4” x 6” in TIFF or JPEG format) to We’ll also check our old-fashioned mailbox for prints: P.O. Box 4407, Topeka, KS 66604-0407.



kba leaders ledger division leader news


End of session brings law changes With the end of the legislative session each year comes change! The budget may be the biggest topic of 2010, but it was not the only one. Each bill that passes the legislature has an effective date, or the date the bill actually takes effect, and starts affecting Kansans’ lives. If the bill itself does not specify an effective date, then the “default” date for effectiveness is July 1, 2010—or the July 1 following the end of the annual legislative session. Typically, the delay from passage to effectiveness Kathy Olsen gives citizens a few months to gear up for, adjust to, and make a (hopefully!) seamless transition to the changes in Kansas law. The KBA will notify you of any changes in Kansas law that may affect you as a banker in a couple of ways. Avid followers of the weekly Legislative Bulletin are already aware that at the end of each legislative session, Senior Vice President Doug Wareham provides a recap of the highlights as the KBA sees them, and I provide a summary of every bill of interest to bankers that passed, and bills that did not pass. That summary will indicate if the effective date is any other than July 1. In addition, Terri Thomas reviews some of the proposed changes that particularly affect compliance folks at the Legal Update seminar, and provides an update to bankers once the legislature has adjourned. We here at the KBA do our best to keep you informed of these changes in a timely manner with the goal of a seamless transition for all!

Products and Services



It’s time to get nomination letters in for 2010-2011 KBA officers The KBA is in the process of receiving nominations for the regional representative and at-large positions on the board of directors. Anyone interested in being on the board as a regional representative is encouraged to obtain nomination letters (or e-mails) from four banks in their KBA region. If you are interested in the at-large position you will need four Chuck Stones letters from banks in at least three different regions. Nomination letters will be accepted until June 7. Please feel free to call me at (785) 232-3444 if you have any questions.


H&P will host MIEO webinar May 24

Legal KBA announces scholarships

For the past seven years, KBA Hodge & Porter representatives have aggressively marketed a Mortgage Impairment and Errors & Omissions (MIEO) policy to Kansas banks. This policy is designed to minimize a bank’s exposure to losses resulting from borrowers’ failure to acquire and maintain adequate physical damage insurance on real estate. Any “real property loan” that is Hump Hodge secured by “real property” is covered under the MIEO—all types of loans, commercial, residential, construction, seconds and home equity loans. Since the economic downturn and real estate crisis, it is apparent to many of our Kansas bankers who purchased the MIEO policy they made the right decision. The number of claims continue to rise. As we market this policy, and also during the claims process, a number of questions from lenders are asked. We want all lenders to thoroughly understand the workings of this policy. So for those banks that have the MIEO policy in place, and for those banks that are considering purchasing this coverage, we have arranged for a webinar on Monday, May 24. This will be presented by Art Fullan of Russell Bond Insurance Wholesalers, representing the insurer underwriters at Lloyd’s of London. Details of time, registration and joining the webinar conference will be in KBA’s E-Source. Banks that already have the MIEO policy will be notified of the details by the KBA Hodge & Porter office.

The KBA has awarded three graduate school scholarships through our affiliation with the Graduate School of Banking at Colorado (GSBC) and the Graduate School of Banking at the University of Wisconsin-Madison (GSB). Jeffrey Stewart, Community State Bank in Coffeyville, received the GSBC scholarship; Brian Eilert, First National Bank in Beloit, received the GSB scholarship; and Cindy Kershner, Country Club Bank, was Becky Tongish awarded the Human Resource Management School scholarship. All three will attend graduate schools in 2010. More information will appear in an upcoming magazine issue. Enroll your tellers and other frontline staff in one of the most popular and highly rated teller seminars in the country: Essential Teller Issues. The program, to be held in the evenings in six locations throughout Kansas, will be conducted by Honey Shelton, who consistently receives rave reviews. Frontline staff will learn about crossselling techniques, balancing, loss prevention, compliance, robbery and professionalism. The KBA’s 2010 CEO Forum/Annual Meeting brochure was sent to Kansas bankers in late April. Featured will be Sgt. Matt Eversmann, hero of Black Hawk Down, who will share a compelling and inspirational story. Also appearing will be political analyst Jennifer Duffy, senior editor with the Cook Political Report; economist Dr. Stephen Happel; ABA chairman-elect Steve Wilson; and Don Musso. Registration is available at Hotel reservations may be made by calling (800) 634-7711­—please request the KBA room block.





sunflower state news and trends have done,” Frank says. The banks were presented with an official Congressional Record to honor the occasion. Accepting the awards were UMB Chairman and CEO Mariner Kemper, and Commerce Bank Chairman, President and CEO David Kemper.

working more than 60 years in banking, including 38 years as Ellis State Bank’s president, according to the Salina Journal. Downing, a University of Missouri graduate, also worked for the Kansas State Banking Department. Downing is survived by his wife Mary Alice Downing, son Michael Downing, daughters Sarah Downing, Janis Hodgson, Kathleen Milldrum and five grandchildren.

John Lehman is new chairman of PMIB

Banks and Bankers

U.S. Congressman Barney Frank, far right, presents Kansas Bankers Association UMB Bank with a congressional record. UMB Chairman Treasurer John Lehman, presiand CEO Mariner Kemper, far left, accepts. dent, The First National Bank of

Congress applauds UMB, Commerce Banks

U.S. Congressman Barney Frank, DNewton, Mass., and chairman of the House Financial Services Committee joined Congressmen Dennis Moore, D-Overland Park, and Emanuel Cleaver, D-Kansas City, Mo., to recognize UMB Bank, Kansas City, Mo., and Commerce Bank, Kansas City, Mo., for being named as Forbes magazine’s No. 2 and 3 best banks in the United States, respectively. Eligible banks were in the top 100 largest in the country. The congressmen, led by Frank, joined a ceremony at the Kansas City Public Library to commemorate the banks’ achievements and to give credit where credit is due. “[We’re] happy to recognize the justifiably high rating from Forbes magazine … congratulations on the excellent work you

Girard, Girard, has been named chairman of the Pooled Money Investment Board (PMIB). The PMIB invests the money available from the State General Fund and the other state funds deposited with the state treasurer, and provides investment management services for other state agencies with investment portfolios. As of May 1, Lehman was waiting for legislative approval before he is officially named to the position.

In fond memory...

James M. Downing, the former president of Ellis State Bank, Ellis, died Feb. 8, in Phoenix. He was 92. Born July 4, 1917, Downing served in World War II in the 82nd Airborn, attaining the rank of 2nd Lieutenant, before

Kim Fairbank is the new CEO and chairman of the board at First National Bank in Cimarron, Cimarron. Dave Long is now executive officer and agricultural representative. First National Bank of Hutchinson has elected R.A. Edwards to chairman of the board, Keith Hughes to CEO and Greg Binns to president. Nation Meyer, former chairman of the board, will serve as senior chairman of the board. Community National Bank, Chanute, has promoted in Pittsburg Paul Christman to president and Joe Leek to director of corporate marketing and sales. Farmers Bank & Trust, Great Bend, has promoted Maureen Carothers Hirsh to branch operations supervisor in Kinsley.



ag bankers


conference recap

Think globally, but act locally


he ag banker and the farmer in rural Kansas can quickly feel the effects of competitors from across the globe. This is because the Kansas agricultural economy is a component of a world-wide marketplace where fluctuations can be felt across continents. At the heavily attended 2010 Ag Bankers Conference in Manhattan, Dr. David Kohl suggested ag bankers should think globally, but act locally. Kohl says it can be tricky understanding how governmental policy shifts in Asia and Europe, or weather pattern changes in North and South America can affect the day-to-day business of an ag banker and their clientele. But the professor emeritus at Virginia Tech and an agriculture economic expert says moving forward it is very important for ag lenders to understand how ag prices in Kansas can change after fluctuations in the world economy. News sources Kohl utilizes to monitor ag markets worldwide include The Wall Street Journal, MSNBC, and other like media outlets. Kohl believes understanding how the global market place can affect rural Kansas will enable ag lenders to be safer and wiser when meeting the needs of their farm customers. Though there is some uncertainty in the economy, Kohl says the economic planning forecast in the coming months will see an extended period of economic moderation worldwide, volatility at extremes—cost and revenue, reprioritization of business decisions, reprioritization of personal and family decisions, cash and liquidity will be king, and that bankers will need to be innovative, resourceful, and selective. With those trends in mind, Kohl says bankers need to focus on a few key points: Cash— stash the cash, don’t let it burn a hole in your pocket. Liquidity—working capital turns to revenue. People skills—Kohl says think 40-20-40 when hiring employees. Forty percent of people you don’t want around (they feel like they’re entitled, they’ll bring you down financially and mentally); 20 percent are very marginal (you can work with them, but they need some mentoring); and the final 40 percent you want on your team (they have emotional intelligence and show up ready to work). Kohl covered many other topics, all in an attempt to relate the global market to the local market. He also tied together how the market and the workplace are evolving, emphasizing bankers need to be aware of such changes and to evolve with them when appropriate. Kohl says 70 percent of North American farm ground will change hands by 2025; local/natural organics could be 20 percent of the consumer marketplace; special interest groups and consumers will drive business models; 80 percent of Americans are two generations away from the farm and/or ranch; water could replace oil as our most critical limited resource; and women and minorities will become major decision makers within the industry. He told bankers they should make their businesses more appealing to future generations, which will allow them to continue to pull in new employees and new customers. He also says the livestock industry is under attack and needs to prepare for future battles. Livestock producers are facing increased pressure from environmental organizations opposed to large-scale animal production facilities, and are being forced to compete with foreign producers that don’t face the same level of regulatory scrutiny or associated costs. Following Kohl was a bank regulator panel. The panel consisted of Mike Jackson, OSBC; Joe Koenigsman, FDIC; Tom Jorn, OCC; and Rick Lay, Federal Reserve Bank of Kansas City. Some of the points each regulator made, which spawned from banker questions, were:



Dr. David Kohl addresses the Manhattan crowd. He suggests ag lenders keep tabs on global markets, then act accordingly locally.

Jackson: “Education is a top priority for us,” he says in regard to maintaining top-notch regulators. He asked that bankers understand that examiners are trying to find what might be wrong with a loan, not why you made it. Koenigsman: “We are going through the same things banks are going through [with different aged employees].” Koenigsman says he doesn’t know if there will be FDIC special assessments. He says he learns of the assessments the same time bankers do. Jorn: Jorn says that the OCC started a hiring program nationwide in 2003 to help remedy retirement risks. His advice for bankers was simple: “Focus on the fundamentals.” Lay: Lay didn’t anticipate ag lending would face the same level of economic stress that has existed in the commercial real-estate sector. His advice for ag lenders was to, “Be honest with yourself during the risk management process, because it will better prepare you for the examiner’s questions.” The conference had many other presenters covering a variety of topics, all with the goal of rounding out a complete educational experience for ag lenders. In breakout sessions, Jacob Bylund, associate, Faegre & Benson LLP, discussed counter party risk, and Art Barnaby, extension specialist, Risk Management, KSU, covered the future use and updates on FSA programs, including ACRE and SURE. Allie Devine, director of research, Kansas Livestock Association, and Dan Thomson, Jones professor of production medicine for KSU College of Veterinary Medicine, addressed threats to animal agriculture, including new clean-air standards being proposed by the Environmental Protection Agency that will prove costly for Kansas cattle feeders. Randy Blach of CattleFax provided a livestock market outlook, and Darrell Holaday of Advanced Market Concepts presented a grain markets update. The conference’s final speaker was Dr. Barry Flinchbaugh of KSU. His famous cigar in hand, he gave a farm policy update, which addressed the impact foreign trade policy and how growing national deficits will impact U.S. agriculture.


Above: The Ag Bankers Conference regulators panel consisted of Mike Jackson, OSBC; Joe Koenigsman, FDIC; Tom Jorn, OCC; and Rick Lay, Federal Reserve Bank of Kansas City.

Above: Kansas State Treasurer Dennis McKinney explains state programs for rural development.

Above: Dan Thomson discusses challenges facing the livestock industry.

Above: Dr. Barry Flinchbaugh, with his famous cigar, discusses farm policy with Kim Krehbiel, Citizens Bank of Kansas, N.A., Kingman (right) and Myron Wolken, Guaranty State Bank and Trust Company, Beloit.

Above: KSU Extension Specialist Art Barnaby describes future uses of FSA programs.

Right: Randy Blach, CattleFax, provides a big-picture outlook of the cattle industry to conference attendees.

Left: Darrell Holaday, Advanced Market Concepts, gives a grain industry update to the audience during the conference’s second day.

New president

Above: Dainty and Heinz.

The KBA—Kansas Ag Bankers Division met during the 2010 Ag Bankers Conference for its annual meeting. In that meeting, Dan Heinz, vice president of correspondent banking/ag lending, INTRUST Bank, N.A, Wichita, began his year as division president. He replaced Tim Dainty, Community National Bank, Girard, who will now serve as past president. Also elected were KAB Division Vice President Sid Graber, Citizens State Bank of Kansas, N.A., Pretty Prarie, and Secretary/ Treasurer Greg Rodvelt, Horton National Bank, Horton.

Sponsors Farmer Mac Country Banker The KBA/NBA Schools of Banking, Inc. Purple Wave Auction Bankers’ Bank of Kansas INTRUST Bank, N.A. Kansas Wheat Kennedy and Coe, LLC Applied Bank Solutions



community banking culture


Our little corner of Kansas By Jane Deterding


y mom and I were recently asked to be participants in a conference entitled “Aging and Thriving on the Plains,” which was sponsored by the Regional Institute on Aging at Wichita State University. My presentation focused on the rural communities in which we have bank branches­—nine in all—and what works for those towns. This topic is equally relevant as we celebrate Community Bank Week. It is no surprise that population decreases continue in many rural counties. Citizens Bank of Kansas has bank branches in Kingman, Cowley, Barber, Reno, Pratt and Sedgwick counties. With the exception of Sedgwick County, all of our branches are located in counties with declining population. The population of the rural towns ranges from just over 100 people in Isabel, to over 12,000 in Winfield. What makes these towns work? What is the common denominator in the communities we serve? What makes Pretty Prairie, Kansas, for example, different from a town of similar size that is not thriving? A little research reveals some interesting common features of our little corner of Kansas. Every small community has a bank, a post office, a senior center or community center, at least one church, and a grain elevator. With only two exceptions, they all have a restaurant or café and a grocery store or convenience store. Think about what these services represent: • Places to meet together and share common interests • Places to satisfy basic needs • Communication • A local business economy—and that’s where we come in! My dad used to say that banking isn’t about money, it’s about people. That idea is really at the core of how we do business. We are a community bank first and foremost. What is a community bank? Community banks are locally owned and operated banking institutions. These community banks offer all of the standard banking services including checking, savings, loans and mortgages, safe deposit boxes, etc., for individuals and business customers. Because community banks are locally owned and operated, lending decisions are made locally by people who understand the financial needs of those in the community. Ultimately, this means your loan request will be handled promptly by people who understand the “business” of rural towns. And your money is safe with a community bank: Community banks are governed by the same laws that govern the big banks and your money is insured by the FDIC just like it would be if you banked with one of the giants.

Do you bank at a locally-owned community bank? And why does it matter?

This is the part of the story that the mega-banks leave out of their glossy advertisements. Let’s say you decide to put your money in some giant bank based in North Carolina with branches all over the country, because they’re offering a certificate of deposit with a quarter-point higher interest rate. What happens to your money after you buy that CD? It’s not invested in our local communities, it’s loaned to big borrowers all over the country. Maybe to some of those borrowers that were involved in the bad real estate loans that have caused such economic turmoil in our country. Could those bad loans be funded with your money? When you save your money with a local bank, those dollars are



reinvested in the local economy through loans to your neighbors. Your dollars fuel the economy in your rural community. By way of example, let’s take a look at the loan distribution at Citizens Bank of Kansas: • Nearly half of our loans—48 percent—are committed to agriculture production or agricultural real estate. • More than 20 percent of our loans go toward financing homes and home improvements for your neighbors. • We support local businesses—remember the restaurants, grocery stores, grain elevators—with another 24 percent. • And the balance goes to miscellaneous and installment loans that directly benefit people in our communities. We also support our communities by supporting the people and businesses that are our customers. Here are a few examples of the things we do in our communities: • Pancake Supper in Pretty Prairie • Ag marketing seminars for our ag production customers • Sponsor for Pretty Prairie Rodeo, Kingman County Fair, Barber County Livestock Show, Abbyville Rodeo, and FFA Rodeo, to name just a few • We host a Holiday Open House each year in all of our branches, and invite our neighbors to join us to celebrate the season. We also have a commitment to the youth in our neighborhoods, in particular, educating them to become financially savvy adults. Some of our efforts: • We developed a program called “Cool Cash Cat Camp,” which brings younger children to the bank for a day of learning and fun. Citizens Bank of Kansas received a national award for this program from the Independent Community Bankers Association. • Using that same idea, we send first graders from two Wichita public schools to the Nutcracker each year, giving some of those children the only opportunity they may have to experience such a performance. • And probably most importantly—we go to the schools. Each year we celebrate Community Bank Week and “Teach our Children to Save.” Last year, we spoke to more than 1,000 students in our communities, leaving each with a coupon for $5.00 if they opened a savings account with us. In short, we’re proud members of our communities, we’re good neighbors, and we’re proud to be the neighborhood bank in the communities we serve. We enthusiastically support the communities we’re in, and the businesses in those communities. The synergy created by the idea of “doing business with those who do business with you” is what it’s all about. Our business succeeds if the local economy succeeds. If each of us supports our local communities, the local economies will improve, which ultimately leads to a healthier rural Kansas community. Jane Deterding is a fourth-generation Kansas banker and a native of Turon in rural Reno County. She serves as executive vice-president/general counsel for the family bank, Citizens Bank of Kansas, N.A, Kingman.

The views expressed in this story are those of its author, and not necessarily those of the Kansas Bankers Association.

ceo forum


conference preview

How regulators are inhibiting an economic recovery By Donald Musso, Michael O’Byrne and Michael Tourville

CEO Forum Speaker Donald Musso examines the regulatory climate.


he credit crisis has reduced consumer and business access to credit and stifled economic growth. To date, the political response has consisted of one-time stimulants and federal spending—which may have prevented economic calamity, but will not provide for longterm economic recovery. For long-term recovery, banks need to increase lending, which will allow companies to grow, thus spurring private-sector employment, encouraging consumer confidence, and initiating a real estate recovery. This simple axiom illustrates the conundrum that banks are currently facing. How can banks grow loans when onesize-fits-all regulatory stances are inhibiting the economic recovery by decreasing the banking industry’s ability and willingness to lend? Clearly, heightened regulatory pressure is required to rein in banks that took excessive risks. However, extrapolating such pressure onto the entire industry has the effect of punishing responsible banks. Regulators are pushing higher capital requirements, increasing loan-loss allowances and reserve coverage ratio requirements, establishing rigid, inflexible loan concentration thresholds, and discouraging de novo bank formation. These broad-brush polices are directly limiting the ability and willingness of well-managed, safe and sound banks to lend and are choking off new capital sources that want to invest in the industry. Raising capital levels for banks deters new lending. Now is not the time for higher capital standards, but for enforcing standards already in place. Unless dictated by the condition of an individual institution, capital requirements should be kept at current levels because any increase forces banks to shrink their balance sheets and decrease overall lending. The regulatory stance of increasing reserve coverage ratios (which is the allowance for loan and lease losses divided by nonperforming assets) is also inhibiting economic recovery. As most loans are backed by collateral, it is unrealistic to assume that all banks will have to charge off the majority of their nonperforming assets. While no one argues that these loans are impaired, not all are worthless. Historically, the allowance has acted as a buffer, with industry coverage ratios ballooning to over 200 percent in good times and dipping below 50 percent during downturns. Artificially inflating the allowance decreases lending capacity. Besides, the fixation on the allowance is excessive. Banks should use the allowance they built up during good times and only add to reserves as they make new loans or experience further deterioration in their lending portfolios. While loan concentration thresholds have been around for years, the over-emphasis on commercial real estate makes little sense. The current threshold guidelines treat all CRE and construction loans, regardless of debt service coverage and underwriting quality, the same. Regulators should focus on Donald Musso

the underwriting of individual loans and individual banks and avoid making blanket assumptions about all CRE loans. Current practices create a self-fulfilling decline in CRE lending and exacerbate the decline in real estate values. While there is no explicit ban on de novo banks, it is clear that applications are being strongly discouraged. With this stance, regulators are preventing willing capital from entering the industry. Investors might put capital into existing banks instead. But typically, injecting fresh capital into a troubled bank goes toward funding chargeoffs, not new lending. In a de novo, all new capital directly funds lending growth. Also, regulators should not discourage willing capital from entering the market by forcing private equity to abide by special rules. Private equity should be allowed to infuse capital into the system provided they play by the same rules as the rest of the industry. Following these suggestions will stabilize current loan balances and prime the pump for new lending, which will drive economic recovery. The views expressed in this story are those of its authors, and not necessarily those of the Kansas Bankers Association. Musso will be a featured speaker at the 2010 CEO Forum in Colorado Springs, Col.



family - owned bank


part one of two

The challenges of building a highperformance team in a family-owned bank By Greg Wolf Consultant with Kennedy and Coe, LLC


he majority of businesses in America are closely-held or family-owned, and this is as true in banking as in other industries. These businesses have tremendous capacities to perform and benefit those involved, but they also have special challenges and potential for chaos. This article contains some ideas about how to better meet and manage those challenges effectively. First, it might be helpful to describe just a few of the special challenges that exist in a family-owned bank. A lack of unity in the family group, if not outright conflict, can play itself out in bank management, resulting in inefficiency and loss of morale. Even if the family group is harmonious, the same result can occur when family strategies and objectives are not communicated effectively with the management of the bank. A second challenge is retaining key non-family employees, especially in markets where they would be difficult to replace. And it is always a challenge to prevent real or perceived inequities to develop between family and non-family employees of the bank. The inset graphic illustrates why many of these common challenges surface. Within a family-owned bank, there are actually three different systems at work; the ownership of the bank, the family and management of the bank. Each family-owned bank is unique, but all have some overlap among these systems. It is the areas of overlap that invite chaos and even conflict. Some actual examples of the overlap areas include someone in a banking family, also an owner, rising to the position of chief lending officer in the bank, but lacking the necessary skill set to be successful. In another example, the wife of a bank president mused to her husband regarding family Thanksgiving dinners, “With my family, these gatherings are all about the family. With yours they are all about the family business!” Yet another involved a bank board spending some time in a strategic planning process. Challenged to identify and capture the bank’s mission statement, the board first put forth, with a smile but not necessarily in jest: “Make Momma proud!”



However, effective communication and clarity regarding these same areas can allow all three systems (ownership, management, and family) to function effectively and harmoniously, strengthening not only the family, but the non-family members in these banks. That communication and clarity requires some tough work, and we offer in this article an overview of some real business solutions for achieving it.

Strategic planning

There are a variety of approaches to strategic planning, but most involve, in some manner, the development of the bank’s vision, mission, goals and action steps. Vision can be defined as clarity around “where do we want to go?” That provides inspiration and energy to navigate. Mission speaks more to “how do we get there?” That provides a broad template for daily management. Goals and action steps are tactical steps that help create a shared sense of purpose throughout the bank, define milestones, and establish accountability.

The key goal for a strategic planning process is to establish communication and clarity regarding roles among the three family business systems. In most cases, the family has to go through the hard work of strategic planning and develop a plan first. Then, bank management can do the same, followed by key individuals within management. While strategic planning involves certain steps and processes, it should not be considered a one time event, but should represent an ongoing continuum if done effectively. This is the first part of a two-part series about building a highperformance team in a family-owned bank. For the second part of the series, please see the June issue of The Kansas Banker.

2010 CEO & Senior Management Forum and Annual Meeting AUGUST 5-7 BROADMOOR HOTEL COLORADO SPRINGS, CO


You may make hotel reservations at the You may make hotel reservations at the Broadmoor by calling 1-800-634-7711. Please ask for the KBA room block. B

Educational Resources 785-232-3444

Featuring Sgt. Matt Hero of

Eversmann Black Hawk Down

T arp lessons learned


TARP exposure underscores need for appropriate D&O insurance coverage By Scott Hecht Partner with Stinson Morrison Hecker LLP


n mid-March, Charles Antonucci, the former president of New York’s failed Park Avenue Bank, was arrested and charged with crimes involving his bank’s application for $11.2 million in “Troubled Asset Relief Program” (TARP) funds. Antonucci allegedly represented that he personally invested $6.5 million in the bank based on a “sham round trip transaction.” Reportedly the first TARP-related criminal matter, United States v. Antonucci represents a new exposure for bank directors and officers (“Ds & Os”). Antonucci’s alleged conduct was severe, but less severe allegations can give rise to personal liability of bank Ds & Os. Other bank Ds & Os may become subject to civil claims by shareholders, creditors or receivers alleging that they negligently failed to monitor Antonucci and prevent the alleged criminal conduct. These circumstances should prompt bank Ds & Os to question whether D&O liability insurance might provide personal asset protection. The answer to that question is a qualified “yes.” In the optimum case, a D&O policy would provide defense cost coverage to Antonucci for his criminal defense costs; it would provide defense cost coverage to Antonucci and his less culpable colleagues for regulatory proceedings; and, it could provide defense cost coverage for all of them for any civil proceedings. Unfortunately, not all D&O policies are equal. Shortcomings are often implicated in the most serious of circumstances. The following describes key differences in D&O policies and how they play in circumstances like those facing Park Avenue Bank and Antonucci. All D&O policies provide coverage for civil lawsuits and arbitrations; most even cover demand letters. Generally speaking, this coverage is for both defense costs and judgments or settlements. All D&O policies exclude coverage for fines and penalties, but some policies provide coverage for punitive damages. Unfortunately, while some policies provide coverage for the defense of regulatory investigations, enforcement proceedings and criminal matters, some D&O policies specifically exclude these governmental matters. All D&O policies contain “conduct-related exclusions” for fraud, willful criminal conduct, dishonesty, and the like. Obviously, those exclusions would be implicated with respect to Antonucci and his colleagues. D&O policies differ, however, in the insurer’s ability to decline coverage based on these exclusions. Some conduct-related exclusions apply in the event of a “final adjudication” of prohibited conduct, which can mean a criminal conviction or guilty plea and sentencing, or a civil judgment. If a civil lawsuit based on alleged criminal conduct is settled before there is an adverse judgment, or before the alleged criminal is sentenced, a final adjudication-type exclusion should not preclude coverage. If he were acquitted, conduct-related exclusions with that strict requirement may not apply to Antonucci’s criminal prosecution. In contrast, some conduct-related exclusions are triggered given an “in fact” determination or based on the mere allegations. An insurer can file a lawsuit against the insured for the



specific purpose of determining whether prohibited conduct “in fact” existed. Any insurer is likely to decline coverage under these circumstances if the conduct-related exclusions merely require an allegation of prohibited conduct. Those types of exclusions place coverage in question in any serious case, certainly in Antonucci’s circumstances. Most D&O policies include “severability” provisions. If a conduct-related exclusion or a misrepresentation on an application for insurance would preclude coverage for a particular culpable insured, a “severability” provision would preserve coverage for other non-culpable Ds & Os. While most D&O policies have some form of severability provision, the breadth of these provisions can vary. Depending on the nature of the severability provisions in issue, Antonucci may lose coverage, but his less culpable colleagues may still have coverage. In circumstances involving failed banks, an “insured v. insured” exclusion is often implicated. When a bank fails, and a receiver of one type or another is appointed, the receiver, who assumes the rights of the bank, will often assert claims against the Ds & Os alleging mismanagement. Some D&O policies would exclude coverage for the receiver claim under the insured v. insured exclusion because the bank is an insured. Likewise, some D&O policies would also exclude certain shareholder derivative claims brought on behalf of the bank. The terms of these insured v. insured exclusions vary significantly and in important respects that are often implicated in distress situations. There are a multitude of other variances in D&O policy features that affect coverage, and not only in severe situations. For example, many bank D&O policies contain a provision under which an insurer is able to terminate coverage, unilaterally, upon giving a certain amount of advance notice. Some policies have very strict reporting requirements. Some policies allow the insured to choose counsel; some give that right to the insurer. The new TARP exposure underscores the necessity for bank Ds & Os to have appropriate coverage. Although this article does not address all potential issues, the point is that D&O policies can vary widely with respect to important terms. Qualified consultants, including insurance brokers and coverage counsel, who have significant experience with banks and D&O coverage are able to help ensure appropriate coverage. Scott Hecht is the leader of Stinson Morrison Hecker’s Insurance practice. He has nearly 20 years of experience representing public and private companies, including banks, and their executives, on D&O insurance. Scott has substantial experience with insurance coverage matters involving management embezzlements, fraud, and other serious wrongdoing. He’s also a frequent speaker to banks on the topic of D&O insurance.

farm credit watch industry news and opinions


FCS exempted from Senate version of regulatory reform


he financial regulatory reform legislation the Senate Banking Committee sent to the Senate floor exempts the FCS and its regulaBert Ely tor, the Farm Credit Administration Senior Economist at (FCA), from any of the bill’s provithe American Bankers sions even though the FCS is one of the Association nation’s largest financial institutions, with $215 billion of assets at the end of 2009. These exemptions parallel exemptions in the financial regulatory reform legislation the House passed. Presumably, these exemptions reflect the fact that the FCS and FCA are under the legislative jurisdiction of the House and Senate Ag Committees while most of the financial services industry is under the jurisdiction of the Senate Banking and House Financial Services Committees. However, financial regulatory reform legislation most likely will include provisions affecting derivatives, the trading of which the Ag committees oversee. If financial regulatory reform can encompass derivatives, then it should encompass the FCA and the FCS, too. Despite the FCS’s size, the Senate bill exempts the FCS from any systemic risk oversight by the Federal Reserve or the proposed Financial Stability Oversight Council. Given the major role it plays in agricultural lending, the FCS certainly poses a systemic risk to a major sector of the U.S. economy. Congress stated as much when it bailed out the FCS in 1987. Because the FCS is excluded from the definition of financial companies, it would be exempt from the orderly liquidation provisions of the legislation. Given the FCS’s prior insolvency, its growing credit-quality problems, and the troubles of its sibling GSEs, Fannie Mae and Freddie Mac, the FCS clearly should be subject to the bill’s orderly liquidation provisions. Another unjustifiable provision would exempt the FCS from the bill’s risk-retention provisions for securitized loans. Finally, the FCS would be exempted from the rules and enforcement powers of the proposed Bureau of Consumer Financial Protection (BCFP). Given the many consumers the FCS serves, specifically rural homeowners and part-time farmers, and FCA secretiveness about its enforcement actions (see below), there is absolutely no excuse for this exemption. If banks will be subject to the powers of the BCFP, then so too should the FCS.

Jill Long Thompson joins FCA board

Former Indiana Congresswoman Jill Long Thompson has joined the FCA’s board of directors. Nominated by the president last October 15, the Senate has yet to confirm her appointment. In light of that inaction, on March 27, the president made a “recess” appointment of Long Thompson to the FCA board. Unless her permanent appointment is first confirmed by the Senate, for a term ending in May 2014, her recess appointment will be effective until the end of 2011. She replaces former FCA chairman Nancy Pellett and joins Chairman Leland Strom and member Kenneth Spearman on the FCA board. Long Thompson served in the House and on the House Ag Committee from 1989 to 1995. From 1995 to 2001, she served as the USDA under secretary for Rural Development.

Another mysterious FCA enforcement action On April 6, the FCA “entered into a supervisory agreement with an agricultural credit association (ACA) that requires the ACA to take actions to address issues identified previously in FCA’s examination.” Beyond that cryptic statement, nothing is disclosed about this enforcement action—who the ACA is, the nature of its problems, the actions the ACA must take to correct those problems, and the consequences (Receivership? Liquidation? Forced merger?) if the ACA does not correct its problems. Most importantly, do the ACA’s members know about this enforcement action? This lack of disclosure by the FCA is contrary to the openness of the bank regulatory agencies, as evidenced by their routine disclosure of enforcement actions. Interestingly, the FCA news release announcing Long Thompson’s recess appointment noted that while she was in Congress, she introduced legislation that among other things “expanded disclosure requirements for lobbying activities.” Long Thompson should work to increase FCA disclosure of its enforcement actions so the borrower-owners of troubled FCA institutions will know about those problems so that they can, in turn, insist that the directors they have elected take the necessary corrective actions.

FCS to be authorized to purchase loans of failed banks

On April 8, the FCA board adopted a proposed rule authorizing FCS institutions to purchase from the FDIC whole loans to agricultural and cooperative borrowers made by banks that later failed. While FCS institutions can purchase loan participations from banks and other non-FCS lenders, they currently cannot purchase whole loans from non-FCS institutions. FCS lenders buying loans from the FDIC would have to “review the loans more extensively after purchase to ensure that they meet eligibility and scope-of-financing requirements for FCS loans.” All borrowers under such loans also would have to be “offered membership status through a stock membership program developed by the [FCS] institution.” Further, “noneligible loans, and eligible loans to borrowers who chose not to become members, would be divested as soon as financially feasible.” The FCA should simply bar FCS institutions from buying ineligible loans, such as for motels, restaurants, and bowling alleys. One provision in the proposed rule would authorize FCS institutions “to purchase loans outside their chartered territory without receiving permission to do so from the [FCS] institutions in whose territories the loans are held.” If adopted, this authorization would represent a backdoor way for aggressive FCS lenders, such as AgStar, to take credit risks far from their home territories, without any interference from the FCS institution chartered to serve the territory where the borrower is located. It will be interesting to see how many FCS institutions object to this provision in the proposed rule.



security officer ’ s byword industry news and opinions


Morning opening procedures must continue even after the first two employees arrive The following article is part two of a two-part series regarding safe and proper morning opening procedures.


n a robbery incident, proper procedures were used as the first two employees arrived to open the bank. Charles Towle The employees arrived at the same time. Senior Vice President of Kansas Bankers Surety One employee circled the bank to look for any potential problems and then parked near the front entry door where she was most visible to the public. The second employee parked away from the first and watched. The first employee entered the bank. After checking to be certain all was safe, she moved a sign in the window, giving the all-clear signal. She then watched as the second employee walked from her car to the front door. Seeing that the second employee was safe and alone, the first employee allowed her to enter. They then started their normal routine to prepare for opening. As the third employee arrived, he was met in the parking lot by a man claiming to be lost. As he was approached, the man pulled a gun and told him the bank was about to be robbed. The robber walked with the employee to the back door and demanded he open it. The employee opened the door

with his key. The other employees were taken by surprise as the robber entered with a gun pointed at the third employee’s head. The robber demanded that the vault be opened. When he was told that it could not be opened yet, he shot the third employee in the arm. After he was convinced that the vault really could not be opened for fifteen more minutes, he ordered that he be given the key and combination to the vault. The robber then ordered the first employee to duct tape the hands and feet of the other two employees. As the next two employees arrived, they were met by the gunman. The first employee was ordered to duct tape them. When the time lock expired, the first employee was ordered to open the vault. The robber then duct taped her hands and feet. He then took the money and left the bank. After breaking the duct tape, the employees called 911 for an ambulance and police. The employee who was shot in the arm was not seriously injured. A robber can gain access to the bank through different methods: breaking in before anyone arrives, forcing her way in with the first employee, forcing his way in with employees

Essential Teller Issues Seminar June 8 Garden City

June 9 Phillipsburg

June 10 Wichita

June 15 Salina

June 16 Parsons

June 17 Lawrence

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- Doing your part at your location - WOW those customers - Loss prevention expertise

- Recognizing your value - Balancing - High alert for bank robbery

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towle arriving later, or deceiving an employee to let him into the bank. It is important to use proper procedures as the first two employees arrive. It is just as important to use proper procedures as additional employees arrive so that a robber does not attack these employees to gain entry to the bank. As they arrive, employees should be watched as they walk from the car to the bank. They should be let in by the employees inside. Employees arriving later should not be allowed to enter using their own keys. They should be let in by the employees inside. Until it is certain that the employees are not accompanied by strangers and are safe, they should not be allowed to enter. Similar safety concerns should be considered when delivery trucks or any stranger arrives prior to opening. For example, an unknown person appearing to be delivering a bouquet of flowers should not be allowed into the bank prior to opening. In more than one instance, the flower delivery person has turned out to be a bank robber. The bank’s procedures need to

address how to safely handle early deliveries. In most cases, unscheduled deliveries by unknown people should be refused until the bank is open for business. Not all bank robberies can be prevented. However, banks can work to prevent robbers from getting into the bank in the early morning when the most dangerous robberies occur. If a potential robber cases your bank and finds that it is difficult to gain access without someone notifying law enforcement, the robber is likely to give up or find a different easier target.

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W ashington update industry news and opinions

C Co o ll u um mn n ss

Stepping up your political advocacy


have no doubt that you’re one of the many thousands of bankers who have sent letters and e-mails—at the urging of ABA and your state bankEd Yingling ers association—to your members of President of The American Bankers Congress, letting them know where you Association stand on the vitally important issues confronting the banking industry. There’s no question that you understand very well the importance of being actively engaged in political advocacy for the long term. Advocacy is not someone else’s job. It’s everyone’s job. Together. The regulatory reform bill, while huge, will not be the last of the critical issue we will face in Washington, but it demonstrates once again why political and regulatory risk is right up there with interest rate and loan default risk for our industry. Have you thought about doing more, going above and beyond? You can through the ABA Direct Contact Bankers program. ABA Chairman Art Johnson recently encouraged all association members to consider becoming Direct Contact Bankers. “Being a Direct Contact Banker is more than sending computerized letters to your members of Congress—it’s taking a few hours a year to build an important relationship with them,” he said in a memo to bankers.



Art is chairman and CEO of United Bank of Michigan, a $428 million institution in Grand Rapids, Mich., and he very much walks the walk in supporting the program and what it’s about. For example, he recently hosted one of his state’s gubernatorial candidates for an enlightening hands-on learning session at his bank. It’s critically important for ABA members—as bankers, constituents and community leaders—to educate their elected officials on issues that concern them and their banks. The Direct Contact Bankers program is about building relationships, and putting faces and meaningful numbers behind what you do every day in your banks. It’s about demonstrating the value that traditional banks like yours offer to your communities. By doing so, lawmakers will have a greater understanding about the industry from both local and national perspectives. Your bank’s numbers can help tell the industry’s story. What does your bank do for your lawmakers’ constituents? •How many mortgages did the bank make, and how many people did it put in houses? •How many small businesses did your bank help start, and how many jobs did it create as a result? •How many other consumer loans did you make and to how many individuals? •How much does your bank pay in taxes? Personal visits or communications based solely on your bank’s good work and its positive effect on the community will help build a relationship with your member of Congress based on an area of mutual interest—the people in your community. As that relationship grows, trust is built. A future call from you about specific legislation won’t be the first time your member of Congress hears from you. Whether you have a relationship with a representative or senator or wish to begin building a relationship with your elected official, we urge you to join the Direct Contact Bankers program. As Art Johnson said, “You are the voice of the industry.” To learn more or to sign up as a Direct Contact Banker, go to ­. When it comes to political advocacy, more is better. It’s everyone’s job.

KBA staff and e-mail index Chuck Stones President

Connie Sherer Legal Assistant

Kathy Olsen Senior Vice President, General Counsel

Julie Taylor Information Systems Coordinator

Terri Thomas Senior Vice President, Legal Department Director

Mary Taylor Communications Specialist KBA Insurance, Inc. Herb Iams President

Becky Tongish Senior Vice President, Educational Resources

Becky Iams Executive Vice President

Doug Wareham Senior Vice President, Government Relations Sara Blubaugh Special Projects Coordinator, Advertising Manager Linda Brown Administrative Assistant, Legal Department

KBA Hodge & Porter, Inc. Paul Porter President

Jerrie Conklin Education Assistant

H.D. “Hump” Hodge Executive Vice President

Linda Douglass Assistant Treasurer,

Kent Owens Vice President

Gwen Hill Staff Attorney Eric Jorgensen Editor

Elaine Martin Conference Coordinator Lynne Mills Receptionist

Ed Griffith Vice President of Employee Benefits Susan Salyer Employee Benefits Administrator

Diane Catron Administrative Director

Jackie Kuhn Vice President

Mike Norris Vice President of Members Services

Linda Watson Administrative Assistant Nancy Smith Secretary Schools of Banking, Inc. Tami Shkolnick Executive Director Kami Murphy Assistant Director and Registrar

Becky Milne Education Coordinator

credit union monitor industry news and opinions


Future premium assessments: NCUSIF vs. FDIC


ational Credit Union Administration Chairman Deborah Matz was asked recently Keith Leggett Senior economist of at a credit union the American Bankers conference in Association California whether credit unions should consider avoiding future NCUA premium assessments by converting to a bank or thrift charter. She responded that NCUA's assessments are miniscule compared to FDIC premium assessments. She also made a huge point about banks prepaying three years of assessments in December. I would like to address NCUA Chairman Matz's comment. It is true that FDIC-insured banks prepaid 3 and a quarter years of assessments on Dec. 30, 2009. These prepaid assessments appear as an asset on the books of the banks, just like the 1 percent NCUSIF capitalization deposit of credit unions. The purpose of the prepaid assessment is to provide FDIC with sufficient working capital to handle an anticipated elevated level of bank failures this year. However, as premiums come due over the next three years, FDIC will bill each bank for the quarter's assessment based on the bank's actual assessment rate and deposits at that time. That amount will be deducted from the bank's prepaid assessments balance. Currently, the base assessment rate ranges between 12 and 16 basis points (depending on supervisory evaluations and financial ratios) for banks that are well capitalized and have a CAMELS composite

rating of 1 or 2. But the actual risk-based premium rate includes adjustments for secured liabilities, brokered deposits and capitalization, which can increase or lower the premium rate paid. Beginning in 2011, the base assessment rate will go up by 3 basis points. These premium rates will remain in effect until 2018, when FDIC expects the insurance fund to be fully recapitalized. FDIC believes that premiums at this level will be sufficient to return the insurance fund to its normal operating level, without borrowing from the government. By way of comparison, NCUA at its November 2009 board meeting estimated credit unions will be assessed a premium of between 15 and 40 basis points in 2010. I have not seen where NCUA provides any estimates regarding assessment rates for credit unions after 2010. However, Congress in 2009 authorized NCUA to borrow up to $6 billion from the government to stabilize the corporate credit union system. Federally insured credit unions are responsible for repaying these borrowings. Depending on the ultimate cost of stabilizing corporate credit unions, some have estimated that federally insured credit unions could pay an annual assessment of approximately 14 basis points a year thru 2016. I hope this provides some needed clarity.

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Meet a bank

Olpe State Bank

In 1905, 27 people teamed up to form Olpe State Bank, Olpe. It was founded as a community bank and its managers and directors work to keep it that way today. The bank currently has 71 stockholders, most of whom are descendents of the original founders. Leading the bank today are Joe Wendling, chairman of the board and president, and Harold Engle, Jr., executive vice president. Employees: The bank has 10 full-time employees. Community service: “The bank and employees are very active in charitable and community activities. As a supporter of education, the bank, on April 14, 2010, donated $5,000 to the Southern Lyon County Educational Foundation to enhance the quality of education in the Olpe public schools. It also has an endowment scholarship at Emporia State University. Kevin Flott, vice president, is a member of the USD #252 school board. The bank makes miscellaneous donations to promote all of the schools’ activities. In December, the employees decided to donate money to the Salvation Army in lieu of a gift exchange. In April, the employees formed a team for Lyon County Relay for Life. The employees took time to walk through the night hours from dusk to dawn.”

Education Calendar

Pictured above are (from left to right) Connie Stead, Deanne Samuels, Debbie Cole, Kevin Flott, Joe Wendling, Jim Sears, Darin Musick, Lisa Wilke, Barb Hoobler and Connie Redeker.

Want Kansas bankers to meet your bank? E-mail Eric Jorgensen at to request your bank be featured in our “Meet a bank” section.

May 7:

Basics of Real Estate Loan Documentation Session 2

KBA-YBOK Spring Conference May 19-20: Lawrence, The Oread

May 11:

SAR & CTR Webinar Series Part 2: SAR Form Completion

May 14:

Webinars—Sunflower Series May 4: Regulation E: New Overdraft rules

RESPA—Understanding HUD’s Frequently Asked Questions

Information Technology Risk Management May 25: Wichita, Airport Hilton May 26: Hays, Ramada Inn May 27: Lawrence, SpringHill Suites

May 17:

June 3:

Technological & Social Solutions to Security Issues

May 19:

Card University Webinar Series— Part 1

Register and see full, regular­­ly updated listings of KBA education programs and events at

Reg. Z update

Webinars—National Series May 4: Basics of Real Estate Loan Documentation Session 1 May 5:

Executing Your Marketing Plan for Overdraft Consent

May 6:

Revised Reg. Z Rules for Open-End Credit



Seminars and Conferences MOKAN Trust Conference May 5-7: Overland Park, Sheraton Managing Your Commercial Loan Portfolio May 12: Garden City, Clarion Hotel May 13: Salina, Courtyard Mariott May 14: Overland Park, Hyatt Place

KBA/NBA Schools of Banking Operations School May 11-13: Grand Island, Neb. Agricultural Lending School July 19-23: Kearney, Neb.

May 2010 issue of The Kansas Banker  

May 2010 issue of The Kansas Banker

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