May/June 2024 Wisconsin Banker

Wisconsin Banker

Banking Industry Awaits

Rate Drop

By Malcolm McDowell Woods

At financial institutions across the state, all eyes remain on the Federal Reserve, waiting to see how quickly and how drastically interest rates move yet this year. While there’s a strong consensus that a rate drop would be beneficial, industry insiders are mostly voicing their hopes that whatever happens comes gently.

At the start of 2024, expectations were that the Federal Reserve would enact a series of interest rate decreases over the course of the year, as long as economic forecasts proved accurate. After the first quarter of the year passed without any rate changes and following a quiet meeting of the Federal Reserve in mid-March, Federal Reserve Bank Chair Jerome Powell said he still expected rate cuts later this year. For now, rates remain high, pushed there through a series of hikes enacted first in response to the economic fallout of

Wisconsin Bankers Association

the COVID-19 pandemic. Those dizzying jumps, moving the base rate from a low of zero to the current 5.25–5.50%, came fast and furious over a short two-year span, leaving banks a bit shell-shocked and struggling to adapt.

It’s made for rough waters, but analyst Marc Gall, a senior vice president of the Financial Institutions Group at BOK Financial Capital Markets, thinks anyone expecting huge rate cuts anytime soon should temper their expectations.

“The expectation the market has for this year is that the Fed is going to cut interest rates between two to three times, likely towards the second half of the year,” explained Gall. “The outlook has been that the economy is going to start slowing down, that we're going to start getting closer to a recessionary time, and that’s what’s going to cause the Fed to start dropping the interest rate.” The challenge for the banking industry, said Gall, is that everyone is left waiting for something to happen.

Continued on pg. 8

Recognized as a Top Place to Work

By Hannah Flanders

Collaborative, flexible, innovative, and rewarding. These are the characteristics often used to describe a great place to work. It is estimated that, on average, Americans will spend approximately one third of their lives at work or engaging in work-related activities. So, for many people, it is important to find a workplace that fosters a supportive and dynamic environment, where employees not only are empowered to contribute meaningfully but feel a personal sense of value and respect.

In March, the ‘Wisconsin State Journal’ recognized 70 companies and organizations — including the Wisconsin Bankers Association — as the Greater Madison area’s Top Workplaces for 2024. This recognition, based solely on employee feedback, is gathered through a third-party survey administered by Energage LLC. The survey captures workplace experience themes that drive engagement, including employees who feel valued, respected and supported, enabled to grow, closely aligned to the mission of the organization, and empowered to execute.

“As a business service provider, our employees are at the heart of everything we do,” said Rose Oswald Poels, WBA president and CEO. “Being named a Top Workplace reflects the positive contributions of our entire team, and we are very honored by this recognition.”

Continued on pg. 14

Inspiring Our Future

By Donna Hoppenjan

A year ago, when I assumed the role of Chair for the Wisconsin Bankers Association’s Board of Directors, my primary goal was to instill a spirit of inspiration among our members, motivating them to pave the way for future generations. As my term approaches its end on May 31, I take great pride in reflecting on the remarkable progress our membership has made in just twelve months.

For many bankers, the initial step towards ensuring the future prosperity of our industry begins with investing in their own professional growth. Over the past year, thousands of bankers from across Wisconsin have actively engaged with WBA’s array of programs. These offerings, which include educational workshops, seminars, peer groups, and committee involvement, have empowered our members to enhance their skill sets and inspire success among their peers.

Beyond supporting our current professionals, WBA, in partnership with bankers across the state, has spearheaded efforts to connect students with opportunities to explore a future career within the banking industry. Through career night presentations that attracted over 200 students and the Association’s newly created ‘Careers in Banking’ website landing page, bankers have had the ability to foster

connections and demonstrate the rewarding career paths available throughout our industry. In these efforts, bankers have played a crucial role in sharing their expertise and passion for banking with the next generation.

Furthermore, Wisconsin’s historic tax parity for banks is certainly among the most significant of our many achievements this fiscal year. For decades, countless bankers have focused their efforts on sharing with policymakers the importance of leveling the playing field and promoting fairness within the banking industry. This outstanding accomplishment — put forth by the WBA membership — will shape the banking landscape and ensure banks in Wisconsin remain relevant and competitive for generations to come.

By standing united, staying educated, and remaining engaged, our membership has proven to be a powerful force for progress. Thank you for the honor of serving as your Chair, and here's to the bright future that awaits us.

Hoppenjan is president and CEO of Mound City Bank, Platteville, and chair of the 2023–2024 WBA Board of Directors.

WBA Welcomes Its Newest Board Members

With the close of its fiscal year on May 31, WBA welcomes its newest members to the 2024–2025 Board of Directors.

Joe Peikert, president and CEO, Wolf River Community Bank, Hortonville, has been selected to become the 2024–2025 WBA Vice Chair by the WBA Nominating Committee. Peikert is now in line to become WBA Chair in 2026–2027.

Also serving as officers on this year’s WBA Board of Directors are: Chair Alvaro (Al) Araque, senior vice president – director of consumer, private, and small business banking of Johnson Financial Group, Racine; Chair-Elect Paul Northway, president and CEO of American National Bank – Fox Cities; and Past Chair Donna Hoppenjan, president and CEO of Mound City Bank, Platteville.

The nominating committee, which is comprised of the current WBA officers and the four most recent past chairs, also selected the following four candidates to fill open seats on the 16-member WBA Board of Directors, all of whom

have been deemed elected by the membership: Shane Ilstrup, Citizens First Bank, Viroqua; Jimmy Kauffman, Bank of Sun Prairie; Todd Nagel, Incredible Bank, Wausau; and Tim Schneider, Bank Five Nine, Oconomowoc.

Continuing on the Board are: Kelly Heroux, Peshtigo National Bank; Paul Hoffmann, Lake Ridge Bank, Middleton; Shay Horton, Cumberland Federal Bank; Ryan Kamphuis, Bristol Morgan Bank, Oakfield; Greg Lundberg, Fortifi Bank, Berlin; Tom Mews, First National Community Bank, New Richmond; Anthony (Tony) Nguyen, Wells Fargo; and Bill Sennholz, Forward Bank, Marshfield.

WBA would also like to thank immediate Past Chair Dan Peterson, The Stephenson National Bank & Trust, Marinette; Jay Mack, Town Bank, N.A., Hartland; Greg Ogren, Security Bank Shares, Inc., Iron River; and Dan Ravenscroft, Royal Bank, Elroy, who are rotating off the Board this year, for their dedicated service to the Association and the industry.

Each Bank Is Unique … Your Counsel Should Be

Too

There are 4,614 banks in the country.1 The breadth of issues facing those banks vary greatly, as do the resources each bank has at its disposal. Community bankers deserve legal counsel that takes into account the specific needs, goals and ambitions of each individual bank – counsel that consistently delivers sophisticated, yet practical legal advice tailored to your particular situation.

While we work with dozens of community banks throughout the country, and can leverage that

Melissa Y. Lanska 414.298.8706 mlanska@reinhartlaw.com reinhartlaw.com

experience and perspective for you, we understand that the challenges and opportunities facing your bank are frequently unique to you.

At Reinhart, our dedicated attorneys function as a seamless extension of your management team, working alongside you to help solve even the most complex situations facing your financial institution. In many instances, it’s not just providing legal advice, but leveraging our network of contacts to serve your needs. It’s what we call Partnering in Possibilities™.

1

Has Coverage Increased for the Wisconsin Public Deposit Guarantee Fund?

By Scott Birrenkott

The short answer is yes, but before we discuss that further, it’s worth addressing another question: what is the Wisconsin public deposit guarantee fund?

Wisconsin Chapter 34 establishes a public deposit guarantee fund which exists for the repayment of losses by public depositors in the event of a public depository institution’s failure. A public depositor is an entity such as a county, city, village, and town, among others. The fund includes a static amount, meaning it will not be refunded should it run out. The Department of Administration manages the fund, and the Wisconsin Department of Financial Institutions (DFI) provides a listing of the balance.

The public deposit guarantee fund covers a single public depositor up to $1,000,000. This amount is in addition to any Federal Deposit Insurance Corporation (FDIC) coverage. Note, however, that it isn’t broken into categories or separate coverage like FDIC insurance is. The $1,000,000 amount is an increase

from $400,000 as a result of 2023 Wisconsin Act 128, which is the recently enacted WBA-supported financial institutions modernization bill.

This increase will mean that public depositors will have increased coverage for their deposits at Wisconsin financial institutions.

Because many public depositors can only make deposits dependent on coverage amounts, this is a significant change. While the increase is a great opportunity for public depositors, do note that coverage is a fact-specific determination. Meaning, if a depositor has specific questions as to coverage, such as assurances as to precise amounts, they may need to consult with their attorney.

For additional information see the links below:

• The public deposit guarantee is established by Wis. Stat. section 34.08 here: https://docs. legis.wisconsin.gov/statutes/ statutes/34/08

• The current balance information as of April 1, 2024 can be found

on DFI’s website here: https:// www.wdfi.org/_resources/ indexed/site/fi/banks/ PublicDepositGuaranteeFund.pdf

• 2023 Wisconsin Act 128 can be found here: https://docs.legis. wisconsin.gov/2023/related/ acts/128.pdf

If you have any questions regarding Wisconsin’s public deposit guarantee fund, or 2023 Wisconsin Act 128, please contact WBA legal at wbalegal@wisbank.com or call us at 608-441-1200.

If you have any questions regarding Wisconsin’s public deposit guarantee fund, or 2023 Wisconsin Act 128, please contact WBA legal at wbalegal@wisbank. com or call us at 608-441-1200.

WBA Comments on Overdraft Proposal

Comment letters are an excellent opportunity for the banking industry to inform the federal agencies about the impact of rulemaking and provide examples. Recently, the Wisconsin Bankers Association (WBA) filed comments with the Consumer Financial Protection Bureau (CFPB) regarding their proposal to update regulatory exceptions for overdraft credit provided by very large financial institutions. While the proposal would apply only to very large financial

institutions with more than $10 billion in assets, WBA expressed concern that the practical reality of the marketplace is such that similar changes will be forced upon financial institutions with assets of $10 billion or less.

WBA provided comments outlining the consumer harm that would result from the proposal, issues with a “breakeven” and “benchmark” fee, and the difficulty of offering overdraft under Regulation Z. Overall, WBA

stressed the importance of the right of banks to choose what overdraft products are offered based upon the needs of their customers.

View this and previous comment letters filed by WBA at wisbank.com/CommentLetters.

Birrenkott is WBA director – legal.

March Madness: Governor Signs All of WBA’s Top Legislative Priorities

By Lorenzo Cruz

This year the NCAA tournament lived up to the hype and excitement for both mens and womens basketball. Most people think of March Madness and immediately associate it with college basketball. I, on the other hand, envisioned something entirely different.

Behind the backdrop of the tourney, there was a March Madness like feel to the flurry of legislative activity in March for WBA’s government relations team. The swift actions of the State Legislature and Governor Tony Evers matched that same energy level of the tournament with their own furious pace of passing and signing of bills. Governor Evers called for and signed many of WBA’s top legislative priorities into law which are briefly summarized below.

Financial Institutions

Modernization was a top priority for WBA. After several sessions of disagreement with the credit unions, a compromise was reached which benefited both banks and credit unions. Below are highlights of the provisions that benefit the banks.

Senate Bill 773, now 2023 Wisconsin Act 128:

• Extends the maximum maturity date of a promissory note issued by a municipality, county, or school district from 10 years to 20 years.

• Increases compensation from $400,000 to $1,000,000 from DFI for losses resulting from the deposit of public money in a failed financial institution.

• Repeals the requirement that financial institutions provide advance notice to DFI before the acquisition, placement, or operation of ATMs.

• Creates a Class H felony to intentionally cause impairment or interruption to any ATM.

• Eliminates 100-mile geographic lending radius restriction from an office on savings and loan associations.

• Eliminates certain lender disclosure requirements for mortgage and variable loans.

The second priority was updating Wisconsin’s trust code law. The last time the trust code was updated was in 2013. Changes to the trust code law were long overdue and desperately needed to remain competitive with other states. The industry worked tirelessly with the State Bar of Wisconsin to craft and pass trust code legislation this session.

Senate Bill 759, now 2023 Wisconsin Act 127:

• Makes several revisions to Wisconsin’s Trust Code.

• Adopts the Uniform Powers of Appointment Act.

• Adopts the Uniform Trust Decanting Act.

• Clarifies state law relating to digital property.

Elder fraud prevention was another key priority for WBA. While the industry was looking for more tools to prevent elder fraud exploitation, it did take a positive step forward by creating a trusted contact list for vulnerable adults at risk and a safe harbor provision for banks.

Senate Bill 628, now 2023 Wisconsin Act 132:

• Defines a “vulnerable adult” as an adult who is at least 65 years of age or adult at risk.

• Defines “financial service providers” to broadly include many financial institutions, including banks, savings and loan associations, credit unions, mortgage brokers, insurance companies, and check cashing services.

• Allows financial service providers to create a list of persons the

vulnerable adult authorizes to be contacted if financial exploitation is suspected and to notify certain individuals about the suspected financial exploitation.

• Provides immunity from all criminal, civil, and administrative liability for any financial service providers and its employees.

The final priority was ensuring that a technical tax fix for S corps paying state tax at the entry level to qualify for the income tax exemption for certain commercial and ag-purpose loans of $5 million or less was added to the tax revisions bills in the Assembly and Senate. WBA’s GR team worked with legislative leadership, DOR, and the Governor’s office to amend the tax bills in the Joint Finance Committee which was ultimately signed by the Governor.

Senate Bill 616, now 2023 Wisconsin Act 146:

• Makes technical clarification to the income and franchise tax exemption created in 2023 Wisconsin Act 19.

• Provides DOR position authority.

As you can see, the government relations team has had a very busy year filled with many legislative victories for the banking industry at the state capitol. I would like to thank the WBA team, the Board, and the membership at large for your support of our advocacy efforts. Your financial generosity and grassroots activism during the legislative session is critical to WBA’s success and allows the Association’s voice to stand out from the rest.

Cruz is WBA vice president –government relations.

Wisconsin Bankers Visit D.C. for WBA/ABA Spring Summit

With active participation of WBA-members from across the state, grassroots advocacy continues to drive the success of WBA’s advocacy priorities. In March, the Association’s annual WBA/ABA Spring Summit brought a group of bankers to Washington, D.C. to visit members of our congressional delegation to lobby on behalf of banks throughout the state. During the three-day Summit, attendees were able to share their stories and reinforce the impact legislative proposals have on Wisconsin banks and their communities.

This year, bankers had the opportunity to visit with every office in our congressional delegation including Rep. Tom Tiffany (R-District 7), Rep. Mark Pocan (D-District 2), Rep. Glenn Grothman (R-District 6), and Rep. Derrick Van Orden (R-District 3). Additionally, attendees had the opportunity to meet with Sen. Ron Johnson (WI-R) and representatives from the office of Sen. Tammy Baldwin (WI-D). Rep. Bryan Steil (R-District 1) spoke with bankers during a dinner event.

Thank you to the attendees listed below who joined WBA and ABA to advocate on behalf of the Wisconsin banking industry during this year’s WBA/ABA Spring Summit.

• Bill Dyson, Ladysmith Federal Savings and Loan Association

• Morgan Farmer, Park Bank, Holmen

• Brad Guse, BMO Harris Bank, N.A., Marshfield

• Dave Feldhaus, Federal Home Loan Bank of Chicago

• Nick Felder, MidWest One Bank, Lancaster

• Corey Hoze, Associated Bank, N.A., Milwaukee

• Gary Kuter, Capitol Bank, Madison

• Greg Lundberg, Fortifi Bank, Berlin

• Loni Meiborg, Fortifi Bank, Berlin

• Tom Mews, FNC Bank, New Richmond

• Mark Oldenberg, Security Financial Bank, Eau Claire

• Adam Sommer, Bank of Brodhead

• Theresa Wiese, First Business Bank, Madison

Attendees visited the Wisconsin congressional delegation on Capitol Hill.

Sen. Ron Johnson (WI-R) met with banker attendees. Summit attendees spoke with Rep. Glenn Grothman (R-District 6).

Banking Industry Awaits Rate Drop

Continued from pg. 1

And waiting. “What a ride,” is how Nicolet National Bank CFO Phil Moore jokingly described the past couple of years. As a bank catering to commercial and industrial customers, Nicolet’s portfolio contains many fixed-rate, short-duration loans that couldn’t be adjusted when rates rose so dramatically. Nicolet has managed to emerge unscathed, but it wasn’t much fun, said Moore. The volatility is tough to manage, he said. “It’s not impossible — we dealt with the ups — but it’s just that much more challenging, there’s more financial risk.”

However, the nature of Nicolet’s lending portfolio — short, two-to-threeand-a-half-year duration loans, works in the bank’s favor, according to Moore. “You know, you hold your nose for three and a half years. It doesn’t feel like too

much risk at this point in time, and we feel very comfortable managing that.”

What does Moore anticipate happening over the remainder of the year? “I don’t know, and ask me again in two weeks and I still won’t know,” he laughed. “It’s been crazy right. The market and the Fed have certainly not been reconciled with their thinking, though it seems to me that at least they are getting closer to being reconciled. But what a painful ride it has been, because of the severity and the steepness of the 500-basis-point jump that we just lived through.”

At Peoples State Bank in Wausau, CFO and Senior Vice President Jessica Barnes admits that the rapid and steep rate hikes were challenging. “For someone in my position,” she said, “it’s kind of been fun and exciting in a sick way, but definitely challenging. [Those] very rapid rate jumps were just something I’d never seen before in my career. It was hard to adjust to and make sure we’re still serving our customers adequately.”

approach has been to consciously diversify the structure of its portfolio, so it will perform well in different environments. The bank will also seek opportunities to sell some of its loweryielding securities that have longer durations for higher yields to help with profitability.

That strategy reveals Barnes’ belief that significant interest rate cuts are unlikely in the near future. “If I believed they were going to be lowered very soon, you could make a case that we could just sit on those larger unrealized losses” for the short term. But Barnes isn’t holding her breath. “We’ve held the view since last year that there wouldn’t be as many rate cuts as were being predicted. When we put together our 2024 plan, we didn’t factor in any rate cuts. And so far that’s been a pretty correct assumption.”

The swift hikes reduced the value of investment portfolios at most banks, raising concerns about liquidity.

“It's funny, because when banks have liquidity and funds available to invest, it’s not as good a time to invest because rates are usually low,” said Barnes. “But when rates are very high, like they are today — and I do believe that we're at our peak — cash is not as abundant to invest.” Her bank’s

At the Bank of Wisconsin Dells, Senior Vice President and CFO Tracey Pierce is in agreement that any rate cut yet this year will be minimal and later in the year.” I think the curve will somewhat normalize through a series of rate cuts, but at a slow pace for now,” she said. “Probably looking at the fourth quarter, something like 25 basis points.”

That would help most banks, hers included, but only incrementally.

“The perception among some bankers is that all we need is for the Fed to start cutting rates and everything will be okay,” noted Gall, but he doesn’t see banks deriving much cost savings on the deposit side from what he thinks will be small cuts.

“Really, the Fed needs to cut a lot in order for things to get materially better on the margin side in the short term. And again, if the Fed starts cutting rates, that's incrementally beneficial over the long term, but most of them need a big drop quickly, which is not what the outlook is for this year.”

Continued on pg. 9

Continued from pg. 8

That means the potential for continuing squeezed margins and questions of liquidity, issues that came to the fore last year after several bank failures across the country. Gall and others say it has resulted in an increased scrutiny on liquidity from bank regulators.

“Liquidity really is the biggest concern for our industry right now,” said Pierce, of the Bank of Wisconsin Dells.” We’re starting to see the effects of inflation on our deposits.” Inflation has forced consumers to spend excess savings, leaving banks with fewer funding sources.

Gall added that the volatility of the past several years has impacted banks across the state differently. “There are some banks right now that have very good earnings that have enjoyed even higher earnings as interest rates have risen, but there are others that have seen their earnings drop

significantly. It means the range of performance between Wisconsin banks is the widest it has been in a very long time.”

Finally, muddying the waters is the looming shadow of the presidential election in November. Traditionally, the Fed has preferred to avoid making significant policy moves near the election, lest it be accused of interfering with politics, but no one knows for sure what will happen. “So that’s a wild card, right?” said Moore.

Just what the banking industry doesn’t need — more uncertainty.

“It’s my greatest fear,” concluded Moore. “It’s just so much more challenging to manage. I’m just hoping for consistency and stability.” He’s not alone.

McDowell Woods is a freelance writer and an instructor of journalism and media studies at the University of Wisconsin–Milwaukee.

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WBA Hosts Second Annual FinTech Showcase

On Monday, April 15, bankers from across Wisconsin attended WBA’s second annual FinTech Showcase. The fullday event opened with a keynote session by Charles Potts of the Independent Community Bankers of America (ICBA) on harnessing the power of artificial intelligence (AI). Then, throughout the day, live demonstrations of FinTech solutions ranging from data analytics platforms to credit monitoring and identity protection tools provided attendees with the opportunity to discover potential efficiencies offered by FinTech vendors.

More than 10 FinTech companies were present at this year’s event, allowing attendees to engage directly with FinTech experts and explore how these solutions can be tailored to address specific challenges and opportunities within their organizations. With new technologies emerging at a rapid pace, WBA’s annual FinTech Showcase is an efficient opportunity for bankers to see first-hand the innovative solutions available to assist institutions in meeting the evolving needs of their customers.

Thank You to Our FinTech Showcase Vendors:

• Alkami Technology, Inc. (WBA Associate Member)

• Array (WBA Associate Member)

• Customarkable, LLC (WBA Associate Member)

• ELEVATE Wisconsin

• Finli

• KlariVis (WBA Associate Member)

• Lenderful Solutions (WBA Associate Member)

• White Clay

The added values of WBA’s Association Health Plan:

• Local association team

• Opportunity for cost savings

• More plan options

• Easy to switch

• Strong national network

• Convenient resources for members

• Annual incentives available to participants

Over the first six years of the AHP, 52 WBA-member banks and 2,700 members collectively saved over $2.5 million!

Bankers Prove the Power of Community During Annual Campaign

During WBA’s seventh annual Power of Community Week campaign held April 15–20, 2024, hundreds of bankers from across Wisconsin joined forces to celebrate their commitment to Wisconsinites, highlight their involvement, and demonstrate our collective impact on community projects. Throughout Wisconsin, banks took part in activities such as road-side clean-up, food and supply drives, and hosting financial literacy presentations for individuals of all ages. Below are just a few of the many ways in which bankers participated this year:

It’s not to

Employees from Horicon Bank volunteered their time at the Ronald McDonald House Charities Eastern Wisconsin organizing snacks for the “Snacks from Scratch” program.

The Bank of New Glarus made donations to the Albertson Memorial Library, Belleville Public Library, Brodhead Memorial Public Library, Johnson Public Library – Darlington, Monroe Library, Monticello Public Library, and New Glarus Public Library.

Bankers from Nicolet National Bank’s Algoma branch volunteered to clean up a two-mile stretch of Highway 42 in Kewaunee County.

WBA staff volunteered at the Habitat for Humanity location in Monona.

During Power of Community Week, First Business Bank packed 655 My First Pages kits for kids in their community with over 3,000 books.

Park Bank associates volunteered at Omega School.

Employees from Waumandee State Bank volunteered at Feed My People Food Bank's monthly Pop-Up Pantry event in Arcadia.

Balance sheet strategies backed by experience.

You’re working diligently to best position your balance sheet, and we know what you’re up against in the current environment. As you navigate complex strategies to maintain liquidity and margin, we can help you develop solutions backed by our own experience so you can confidently move your operation forward. We can help get you there because we’ve been there.

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Nominations for the Wall of Excellence Due in May

As the Association’s most esteemed honor, the Leaders in Banking Excellence recognition commends the outstanding contributions and achievements of individuals and families throughout Wisconsin’s banking industry.

Already, 28 prominent bank leaders from across the state have been honored for their demonstrated excellence in banking, community service, and/or civic involvement with a permanent plaque displayed on the Wall of Excellence in the WBA Engagement Center. However, countless current and former bankers have yet to be applauded for their commitment to Wisconsin’s banking industry. As such, nominations to join the WBA Wall of Excellence as part of the Class of 2024 are now being accepted through May 10, 2024.

Now in its fifth year, the Wall of Excellence serves as a tribute to the rich history and legacy of banking in Wisconsin as well as an inspiration to the next generation of bankers. With thousands of bankers visiting the WBA office in Madison for training each year, the honoree’s plaque provides today’s bankers a glimpse of those who have helped make our industry what it is today. In addition, honorees will be celebrated during a special, in-person ceremony featuring speakers from the Wisconsin Department of Financial Institutions (DFI) and a member of Congress.

If you or a banker you know has demonstrated the highest standards of ethics, professionalism, and enthusiastic service throughout their career and has yet to be recognized as a Leader in Banking Excellence, please consider making a nomination to join the WBA Wall of Excellence as part of the Class of 2024 at wisbank.com/Excellence. Candidates may be recognized posthumously. Please note that, a $10,000 contribution to the Wisconsin Bankers Foundation (may be tax-deductible as a charitable contribution) is required. Nominations will be accepted through Friday, May 10, 2024.

WBA, Inc. Announces Staff Changes

Ramon Morales has joined WBA as administrative specialist supporting the WBA Legal and Education teams. With over 10 years of experience in financial services, and most recently serving as a project coordinator and billing specialist in the insurance industry, Ramon looks forward to contributing his expertise to various areas of the Association.

Sarah Strandt has joined FIPCO, a subsidiary of WBA, as A/R administrative assistant. With over 10 years in the accounts payable and accounts receivable areas, Sarah is excited to use these skills while also getting to know the banking industry.

Deb Rufer will retire from her position of accounting and human resources assistant on May 31, 2024. In January 2024, Deb celebrated 30 years of service to the Association. In her role, Deb has played an important role throughout the organization. From onboarding new staff and planning company-wide events to managing the facilities, Deb’s dedication throughout the decades has kept the daily functions of WBA, Inc. running smoothly. Congratulations, Deb, on your welldeserved retirement!

This spring, WBA, Inc. has announced two new hires and the retirement of one long-time employee.

Plaques recognizing those honored during the Leaders in Banking Excellence celebration held in 2023.

Wisconsin Bankers Association

Recognized as a Top Place to Work

WiAssociation Recognized as a Top Place to Work

Continued from pg. 1

Although voluntary turnover has returned to pre-pandemic levels in 2024, the talent shortage remains pertinent across industries. For all organizations — including WBA — ensuring team members feel valued and motivated is crucial in retaining talent and fostering a positive workplace culture. By prioritizing employee satisfaction and investing in their growth and well-being, WBA not only inspires our team to do their best work but also strengthens our ability to attract and retain skilled professionals.

With a mission to advocate for, educate, and support a membership of over 30,000 bankers in Wisconsin, WBA recognizes that in order to achieve our goals, investments in the satisfaction of employees are paramount. With a tight-knit office of just 35 Madison-area employees, WBA values the sense of community and connection among staff.

Just as the Association encourages our banker members to engage in personal and professional growth opportunities, WBA staff take part in similar activities throughout the year. Ongoing training and professional development, involvement with community service projects and fundraising events, and staff outings and celebrations are just a few ways in which the Association cultivates a motivated and engaged team.

With a nearly equal number of individuals who have been with the Association for at least five years to those who are newer to the Association, the WBA staff offers a unique blend of experience and perspectives that foster a dynamic and innovative atmosphere. At the same time, it also necessitates constant review of how the Association is meeting the evolving needs of our employees, ensuring that policies, programs, and initiatives remain relevant and impactful.

As such, WBA staff have the opportunity to be involved in the employee-led innovation and employee engagement teams. These teams were created with the goals of increasing employee satisfaction, productivity, and well-being; remaining on the cutting-edge of new practices and technology adoption; and fostering a culture of continuous improvement. In addition to taking part in initiatives that promote collaboration and idea sharing among teams, all WBA staff members are included in monthly meetings discussing relevant developments and goals. Including staff in these regular meetings not only ensures transparency and alignment but further promotes a sense of ownership in the work of the Association.

“Open communication remains a top priority for WBA,” says Oswald Poels. “Just as our members receive relevant updates through our publications to enhance their on-the-job knowledge and decision-making, we ensure that our team members are informed, engaged, and equipped with the knowledge and resources needed to excel in their roles and best serve bankers in Wisconsin.”

In addition to receiving esteemed Top Workplace recognition, Oswald Poels has been selected as the winner of the Leadership award in the small business category. Again prompted by employee feedback, the award recognizes WBA’s president and CEO for her exemplary leadership, specifically related to fostering a culture of empowerment, innovation, and inclusivity within WBA.

Since taking the reins in 2011, Oswald Poels has led a significant remodel at the WBA office in Madison to modernize the facilities and introduced sit-stand workstations and flex spaces throughout the building; implemented optional work-from-home Fridays; and developed a diversity, equity, and inclusion (DEI) employee resource group (also available to WBA-member bankers); among other initiatives aimed at enhancing employee satisfaction and well-being. It is evident that under Oswald Poels' leadership, employees are not just valued, but enabled to thrive both personally and professionally.

“As the business landscape continues to evolve, WBA remains dedicated to meeting the evolving needs not only of our members, but of our employees as well,” Oswald Poels says. “By embracing change, fostering a culture of learning, and investing in our greatest asset — our people — WBA continues to thrive as a leader within the industry and as a model for workplace excellence.”

Flanders is WBA writer/editor.

Deadline Extended to be Featured in WBA’s 2025 ‘Scenes of Wisconsin’ Calendar

Calling all photographers — or anyone with a camera phone! The Wisconsin Bankers Association is excited to accept your submissions for our 2025 ‘Scenes of Wisconsin’ Calendar Photo Contest. We are looking for any image that captures beautiful Wisconsin landscapes, the changing seasons, wildlife and pets, historical locations, city views, and more. We want to see what you love about living in Wisconsin.

There is no age limit for the contest, and it is open to all bank employees. Encourage your family and friends to submit images and share this opportunity with your bank customers! An individual can submit up to three photos for the contest. Keep in mind that to be considered for a feature placement, the picture must be in a landscape orientation. For more than 15 years, bankers and bank customers have seen their photos printed in the ‘Scenes of Wisconsin’ Calendar, which are viewed by thousands of Wisconsinites. Your picture could be next!

The deadline to submit your photos has been extended to Friday, May 10, 2024, to allow one more week to enter your images in our online submission form. For more information on how to enter the contest, visit wisbank.com/ScenesofWI

or scan the QR Code. If you have any questions, please contact Jackie Lindquist at jlindquist@wisbank.com.

The 2025 ‘Scenes of Wisconsin’ Calendar is also available to order! To place your order for this high-quality, costeffective, branded marketing tool, complete the form on wisbank.com/ScenesofWI.

Share your Wisconsin views with us through May 10, 2024, by completing the submission form on wisbank.com/ ScenesofWI.

Bulletin Board

Promotions and New Hires

Brookfield

Spring Bank is pleased to announce the elevation of Heather Nelson (pictured) to the position of president and chief executive officer. Additionally, the bank is excited to welcome Jasmine Mercado (pictured) as vice president and commercial banker.

Fond du Lac

National Exchange Bank & Trust has announced the promotions of Bob Benzinger (pictured) to senior vice president – retail banking and Deanna Respalje (pictured) to vice president – retail loan operations.

Greenleaf

GreenLeaf Bank recently announced the addition of Stephen Tramp as senior vice president of lending.

Hortonville

Wolf River Community Bank is pleased to announce that Janelle Donaldson (pictured) has been promoted to vice president – deposit operations manager.

Ixonia

Ixonia Bank is pleased to announce the promotion of Erika Nowak (pictured) to executive vice president and chief financial officer.

Janesville

Sauk Valley Bank is delighted to announce the appointment of Ray Oswald (pictured) as market

president.

Madison

First Business Bank is pleased to announce the promotion of Eric Schremp (pictured) to vice president – commercial banking. Additionally, Elizabeth “Beth” Kmiec, JD, (pictured) has joined the bank as senior vice president – director of fiduciary services.

Manitowoc

Bank First is pleased to announce the promotion of Nathan Kastein (pictured) to market president.

Oregon

One Community Bank is delighted to announce that Jonathan Schalow (pictured) has been promoted to senior vice president and director of client experience.

Port Washington

Port Washington State Bank is pleased to announce the promotions of Brian Gold (pictured), vice president – senior business lender; Chanel Schmidt (pictured), vice president – branch manager; and John Schumacher (pictured), vice president – senior business lender.

Sun Prairie

Bank of Sun Prairie welcomes Mike Solt (pictured) as new vice president –business solutions manager.

Union Grove

Community State Bank is pleased to announce the promotion of Robert Pieroni (pictured) to senior vice president – chief lending officer and Kenosha County market president.

Waterloo

Farmers & Merchants State Bank is proud to announce the appointment of

Gregg Mashack (pictured) as its new

president.

Waukesha

Waukesha State Bank has promoted Dan Flood (pictured) to vice president – commercial banking officer.

Wausau

Peoples State Bank has announced the hire of Stephen DeLassus (pictured) as vice president and commercial sales team leader.

Prevail Bank is pleased to announce that Michael Collins (pictured) is the bank’s new vice president.

Wauwatosa

The Equitable Bank, S.S.B and TEB Bancorp Inc. have announced the promotion of Tom Sattler (pictured) to president and chief executive officer. Former CEO Jennifer Provancher (pictured) has been appointed chairman of the Board of Directors.

Whitewater

First Citizens State Bank is pleased to announce that Katie Lehman (pictured) has been promoted to vice president and loan officer.

Announcements

Fond du Lac

Congratulations to Jeff De Smidt, vice president – lending, who retired from National Exchange Bank & Trust on March 1, 2024, after 34 years of service to the bank. Additionally, Jodie Serwe, Campbellsport customer service team lead, recently celebrated 25 years at the bank.

Ixonia

Ixonia Bank is pleased to announce that its Senior Vice President and Director of Commercial Lending Dennis Sampson (pictured) has been recognized by BizTimes Media as a Notable Commercial Banking Leader. Madison

MacKinnon (pictured), vice president – legal, celebrated 15 years of service to the Wisconsin Bankers Association in March 2024.

Marinette

Hunter Mans (pictured), financial advisor at The Stephenson National Bank & Trust (SNBT), has been honored with the Mary L. Staudenmaier WINGS (Worthy Individual Noted for Generous Service) Award for 2023.

Oconomowoc

Bank Five Nine has proudly announced the recipients of its President’s Awards. Congratulations to Laura Edwards, commercial loan operations manager, Mark W. Mohr Mentorship Award winner; Derek Berube, Brookfield West branch manager, Leader in Community Service Award winner; Danielle Peters, compliance analyst, Rising Star Award winner; Kris Barger, Mequon branch manager, Leader in Customer Service Award winner; and Kim Berger, deposit operations director, Financial Achievement Award winner.

Heather

Pictured (left to right) are: Bank Five Nine president and CEO Tim Schneider, Laura Edwards, Derek Berube, Danielle Peters, Kris Barger, and Kim Berger

Mercado Benzinger Respalje Donaldson Nowak Oswald Schremp

Kmiec Kastein Schalow Gold Schmidt Schumacher Solt

Mashack Flood DeLassus Collins Sattler Provancher Lehman Sampson

MacKinnon Mans

Pieroni

Nelson

Bulletin Board

News from Wisconsin Bankers Association Members

Celebrating a Lifetime of Service

WBA is proud to recognize the individual bankers who dedicate their service to our industry and their community. The 50- and 60Year Clubs recognize bankers who have served in the banking industry for 50 and 60 years, respectively. Additionally, WBA’s Lifetime Service Awards recognize bankers who have served in the industry for between 30 and 49 years. To recognize a banker for the esteemed honor, please visit wisbank.com/ServiceAwards.

Dairy State Bank, Rice Lake

David Bridges, commercial lender at Dairy State Bank, was recognized with WBA’s Lifetime Service Award for 38 years of service. Bridges has served the past 23 years of his career at Dairy State Bank. Pictured (left to right) are: David Bridges and Clark Yolitz, Dairy State Bank CEO.

Oostburg State Bank

Larry LeMahieu of Oostburg State Bank was recognized with WBA’s 50-Year Club Award for his tenure of service to the banking industry. LeMahieu retired from his position as vice president –lending in 2017 but continues to serve the bank as a member of the board. Pictured (left to right) are: Rose Oswald Poels, WBA president and CEO, and Larry LeMahieu.

Horicon Bank

Linda Schellpfeffer, customer relations officer at Horicon, was recognized with WBA’s Lifetime Service Award for 40 years of service. Schellpfeffer retired from the bank in February 2024.

and community involvement at wisbank.com/Bulletin.

A Full-Service Partner

CorrAccess

A web-based cash management tool that allows us to serve as the bridge between your financial institution and the Federal Reserve

CorrExchange

Lowers costs of clearing transit items through our OnWe® Image Exchange Network

Correspondent Lending

Available for Bank Stock Loans, Personal Loans, Officer/Director Loans, Participation Loans, Secured and Unsecured Lines of Credit and Letters of Credit

WBA ASSOCIATE MEMBER DIRECTORY

WBA PLATINUM ASSOCIATE MEMBER

FHLBank of Chicago www.fhlbc.com

Steve Sikora, Associate Director ssikora@fhlbc.com | 312.565.5339

Rich Moran, Director rmoran@fhlbc.com | 603.479.4470

The Federal Loan Bank of Chicago (FHLBank Chicago) provides diverse funding and asset liability management solutions, plus a secondary mortgage market program, to enhance homeownership and economic development throughout Wisconsin and Illinois.

WBA GOLD ASSOCIATE MEMBERS

BMO Harris Bank — Correspondent Banking

Peter Caligiuri, Managing Director & Head –Correspondent Banking peter.caligiuri@bmo.com | www.bmo.com

BMO has more than 50 years of correspondent banking experience and a dedicated team of correspondent banking specialists. They will work with you to understand your unique goals and offer a full range of treasury management solutions that can help you run your community bank with greater efficiency, so you can help your clients be more efficient with their money.

BOK Financial Capital Markets

Josh Hunt, Vice President, jhunt@bokf.com www.bokfinancial.com/institutions

The Milwaukee-based team of experienced bankers at BOK Financial Capital Markets have served Wisconsin community banks for more than 25 years. They help banks identify interest rate, liquidity earnings, and capital risks while developing customized strategies to enhance earnings and mitigate these risks.

Bankers’ Bank

Mike Carlson, VP – Correspondent Banking mcarlson@bankersbank.com www.bankersbank.com

For more than 40 years, Bankers’ Bank has created an elite product suite customized to meet your needs, keeping your bank competitive and thriving in your community; allowing you to focus on what matters most, building meaningful relationships and growing your community. As the leading provider of financial products and services for over 600 community banks, their only focus is on helping you succeed.

FIPCO®

Donny Wilson, VP Business Development dwilson@fipco.com | www.fipco.com

FIPCO is a subsidiary of the Wisconsin Bankers Association, providing quality products, services, and unparalleled customer service to the financial industry. These products include loan, mortgage, and account opening software; integrations to core accounting and thirdparty vendor systems; compliance services; a complete preprinted and electronic forms library; and IT audit and security services.

Godfrey & Kahn

Peter Wilder, Attorney pwilder@gklaw.com | www.gklaw.com

Godfrey & Kahn is one of Wisconsin’s leading law firms offering comprehensive legal services to the Wisconsin business community. The firm’s banking team offers an established tradition of full-service, practical, and innovative counsel to banks, banking trade groups, and other industry-related companies, and has the depth and stability to handle the most complex corporate and regulatory matters.

ICBA Services Network

Sean Murphy, VP – Member Relations sean.murphy@icba.org | www.icba.org

The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.

WBA Insurance Services

Brian Siegenthaler, Vice President, EBC bsiegenthaler@wisbank.com

Jeff Otteson, Vice President Sales, MBIS jeffo@mbisllc.com www.wisbankins.com | www.mbisllc.com

WBA Insurance Services provides insurance products for financial institutions through its WBA subsidiaries — WBA Employee Benefits Corporation (EBC) and Midwest Bankers Insurance Corporations (MBIS). Together we protect what matters most to you.

WBA ASSOCIATE MEMBER DIRECTORY

WBA

SILVER ASSOCIATE MEMBERS

Bell Bank

Denise Bunbury, Senior Vice President dbunbury@bell.bank I www.bell.bank Bell Bank works closely as a correspondent banking partner to community banks in Wisconsin and the region, by buying and selling participations, providing 401Ks, insurance, among other services to complement your bank.

Performance Trust

Will Stano, Vice President wstano@performancetrust.com www.performancetrust.com

At Performance Trust, we help our bank partners generate quality and sustainable earnings to maintain their independence, utilizing an objective decision-making framework to educate bankers on capital allocation decisions involving Investments, funding, loans, ALM, M&A and Capital Markets.

ADVANTAGE, powered by JMFA

Dave Bazeley, Regional Director david.bazeley@jmfa.com www.advantage-fi.com Consulting Services

The Baker Group

Ken Judd, Associate Partner kjudd@gobaker.com www.gobaker.com Investment Services

Executive Benefits Network (EBN)

David Fritz, Managing Partner dfritz@ebn-design.com www.ebn-design.com Insurance/Benefits

Quad City Bank & Trust

Kevin Volker, AVP, Correspondent Banking kvolker@qcbt.com www.qcbt.bank/correspondentbanking Correspondent Banking

Cinnaire

Pamela Hetz, SVP – Business Funding phetz@cinnaire.com I www.cinnaire.com

Cinnaire is a nonprofit financial company that supports community and economic revitalization initiatives through creative investments, loans, and development services. Since 1993, Cinnaire has invested $4.9B to develop 863 housing communities in 10 states, providing 53,000 affordable apartment homes for more than 110,000 individuals and families.

UFS Tech

Chris Soyke, VP Bank Engagement chriss@ufstech.com I www.ufstech.com

UFS is the bank-exclusive technology outfitter for community banks providing purposebuilt, bank-exclusive technology services and solutions.

Locknet — An EO Johnson Company

Jordan Shanks, Director of Sales jshanks@eojohnson.com www.locknetmanagedit.com

Whether you are a smaller business that needs a dedicated Managed Services Provider (MSP), or a larger business who wants to augment your existing IT department or manage a project, they are committed to being a valuable extension of your team and raising the bar with worldclass excellence in everything we do.

Wipfli, LLP

Anna Kooi, Partner anna.kooi@wipfli.com I www.wipfli.com

Wipfli has dedicated financial institution professionals who are committed to serving our clients with their strategic planning, regulatory compliance, cybersecurity/IT, risk management, talent, audit, and tax needs.

WBA BRONZE ASSOCIATE MEMBERS

American Security and Privacy

Jesse Voit, Partner jesse.voit@americansecurityandprivacy. com www.americansecurityandprivacy.com Consulting Services, IT/Cybersecurity

Boardman & Clark LLP

Kirsten Spira, Attorney kspira@boardmanclark.com www.boardmanclark.com Legal Services

Jefferson Wells

John Eimermann, Director john.eimermann@jeffersonwells.com, www.jeffersonwells.com Accounting, Consulting Services

Reinhart Boerner

Van Deuren, S.C.

John Reichert, Shareholder jreichert@reinhartlaw.com www.reinhartlaw.com Legal Services

Arctic Wolf Networks

Tanner Londo, Commercial Account Rep tanner.londo@arcticwolf.com www.arcticwolf.com IT/Cybersecurity, Software Systems

Delta Dental of Wisconsin

Steve LeRoy, Director, Sales steve.leroy@deltadentalwi.com www.deltadentalwi.com Insurance/Benefits

Northland Securities, Inc.

Barb Miller, VP, Head of Marketing bmiller@northlandsecurities.com www.northlandsecurities.com Investment Services

SHAZAM

Andy Huth, Regional Director of Sales ahuth@shazam.net www.shazam.net ATM Services, IT/ Cybersecurity, Payment Processing

BHG Financial

Courtney Milana, SVP, Institutional Relationships courtney@bhg-inc.com www.bhgfinancial.com Investment Services, Lending Services

Eide Bailly LLP

Paul Sirek, Partner psirek@eidebailly.com www.eidebailly.com/fi Accounting, Consulting Services

Plante Moran

Spectrum Investment Advisors

Ryan Strankowski, Relationship Manager rstrankowski@spectruminvestor.com www.spectruminvestor.com

Kyle Manny, Partner kyle.manny@plantemoran.com www.plantemoran.com Insurance/Benefits, Investment Services Accounting, Consulting Services

WBA ASSOCIATE MEMBER DIRECTORY

ABA Insurance Services Inc. | www.abais.com

Scott Harris, seharris@abais.com

Abrigo | www.abrigo.com

Keith Bell, keith.bell@abrigo.com

Alliance Partners | www.alliancepartners.com

Tom Thompson, tthompson@alliancepartners.com

Allied Solutions, LLC | www.alliedsolutions.net

Sam Shikowsky, sam.shikowsky@alliedsolutions.net

American Deposit Management Co www.americandeposits.com

Elle Goetzke, elle.goetzke@americandeposits.com

AmTrust Financial Services, Inc. www.amtrustfinancial.com

Kristen Kreuzer, kristen.kruezer@amtrustgroup.com

Arch Mortgage Insurance Co. | www.ArchMI.com

Joe Doyle, jdoyle@archmi.com

Array | www.array.com

HD Jacobs, hugh.jacobs@array.com

Artisan Advisors, LLC | www.artisan-advisors.com

John Hecht, jhecht@artisan-advisors.com

Ascensus | www.ascensus.com

Joseph Doolittle, Joseph.Doolittle@Ascensus.com

Associated Technical Services Inc. www.atswi.com

Troy Salchow, tsalchow@alarmsystemsinc.com

Baker Tilly Virchow Krause, LLP www.bakertilly.com

Michol Banes, michol.banes@bakertilly.com

Bank Compensation Consulting www.bcc-usa.com

John Anderson, john.anderson@bcc-usa.com

Bank Holding Company Association thebhca.org

Tom Bengston, tom@nfrcom.com

Bank of America | www.bankofamerica.com

Simon Wlodarski, simon.wlodarski@bofa.com

Bedel Security | www.bedelsecurity.com

Laura Zeck, laura@bedelsecurity.com

Blanchard Consulting Group www.blanchardc.com

Matt Brei, matt@blanchardc.com

BPAS | www.bpas.com

Todd Mathison, tmathison@bpas.com

BrandPoint Design, LLC www.brandpointdesign.com

Mike Parnon, mparnon@brandpointdesign.com

BrownBoots Interactive, Inc. www.brownboots.com

Alan Hathaway, alan@brownboots.com

BS Recruiters | www.bsrecruiters.com

Erick Gorecki, erick.gorecki@gmail.com

Case Financial | www.casefi.com

Mark Worwa, info@casefi.com

CliftonLarsonAllen | www.claconnect.com

Todd Sprang, todd.sprang@claconnect.com

Computer Services, Inc. | www.csiweb.com

Chad Kulberg, chad.kulberg@csiweb.com

CoNetrix | www.conetrix.com

Paul Hodnett, phodnett@conetrix.com

Converge Technology Solutions (PDS) www.convergetp.com

Robert Buelow, robert.buelow@convergetp.com

Convergint Technologies, LLC www.convergint.com

Jarrod Lofgren, jarrod.lofgren@convergint.com

Cornerstone Advisors, Inc. | www.crnrstone.com

Jennifer Wagner, jwagner@crnrstone.com

CRA Partners | shcpfoundation.org

David Lenoir, David.Lenoir@shcpfoundation.org

CrossCheck Compliance, LLC www.crosscheckcompliance.com

CrossCheck Compliance, smcginnis@ crosscheckcompliance.com

D.A. Davidson & Co. | www.dadavidson.com

Tom Dooley, tdooley@dadco.com

Data Center Inc. (DCI) | www.datacenterinc.com

Doug Rohs, drohs@datacenterinc.com

Data Financial, Inc. | www.datafinancial.com

Marc Masi, mmasi@datafinancial.com

DirectNetworks, Inc www.directnetworksinc.com

Colin Mehlum, cmehlum@directnetworksinc.com

Donnelly Penman & Partners www.donnellypenman.com

Andrew Christians, achristians@donnellypenman.com

Eckberg Lammers, P.C. www.eckberglammers.com

Nicholas Vivian, nvivian@eckberglammers.com

Edelman & Co., Ltd.

Bob Edelman, rhe@edelmancoltd.com

Edge One, Inc. | www.edgeone.com

Steve Young, syoung@edgeone.com

Endeavor IT | www.endeavorit.com

Molly Reid, molly.reid@endeavor.com

Engage fi | www.engagefi.com

Jake Fowler, jake.fowler@engagefi.com

EngageGPS | www.engagegps.com

Rahul Rao, rahul.rao@customarkable.com

Enlighten Financial, LLC www.enlightenfinancial.com

Peter Nugent, peter.nugent@enlightenfinancial.com

FHN Financial Group | www.fhnfinancial.com

Trae Winston, trae.winston@fhnfinancial.com

Fiserv, Inc. | www.fiserv.com

Brent Conrad, brent.conrad@fiserv.com

Foley & Lardner, LLP | www.foley.com

Edward Hammond, ehammond@foley.com

forbinfi, a VGM Company | www.forbinfi.com

Bailey Ronnebaum, baileyr@forbin.com

FORVIS, LLP | www.forvis.com

Tim Eischeid, tim.eischeid@forvis.com

Fredrikson | www.fredlaw.com

Karen Grandstrand, kgrandstrand@fredlaw.com

Generations Title Company, LLC www.generationstitle.com

Stephanie Brassington, sbrassington@ generationstitle.com

Haberfeld | www.haberfeld.com

Mitchell Scheuler, mscheuler@haberfeld.com

Hansen Auction Group, LLC www.hansenauctiongroup.com

Bryce Hansen, bryce@hansenauctiongroup.com

Hilltop Securities, Inc www.hilltopsecurities.com

Aaron Schmanski aaron.schmanski@hilltopsecurities.com

Hovde Group, LLC | www.hovdegroup.com

Kirk Hovde, khovde@hovdegroup.com

HUB Financial Services tayloradvisor.com

Wes Taylor, wes.taylor@hubinternational.com

Husch Blackwell | www.huschblackwell.com

Catherine Albrecht-Wiese catherine.albrechtwiese@huschblackwell.com

Iceberg fs | www.icebergfs.com

Todd Morgan, todd@icebergfs.com

Integris | www.integrisit.com

Cal Roberson, cal.roberson@fid.integrisit.com

Integrity Loan Review, LLC www.integrityloanreview.com

Kevin Graff, kevin@integrityloanreview.com

interface ai, Inc. | www.interface.ai

Mike Rogers, mike.rogers@interface.ai

IntraFi Network | www.IntraFi.com

Sue Kling, skling@intrafi.com

Ironcore Inc. | www.ironcore-inc.com

Hugh Steffens, hugh.steffens@ironcore-inc.com

Ironwood | www.teamironwood.com

Jacqueline Niles, fisalesteam@teamironwood.com

Jack Henry | www.jackhenry.com

Rob Thompson, RThompson@jackhenry.com

Janney Montgomery Scott LLC www.janney.com

Greg Gersack, ggersack@janney.com

Keller, Inc. | www.kellerbuilds.com

Chad Ferguson, cferguson@kellerbuilds.com

KeyState Companies | www.key-state.com

Larry Wood, lwood@key-state.com

WBA ASSOCIATE MEMBER DIRECTORY

KlariVis® | www.klarivis.com

Benton Snyder, bentonsnyder@klarivis.com

La Macchia Group | www.lamacchiagroup.com

Julianna Cibula, jcibula@lamacchiagroup.com

Lasco Development Corporation www.lascoinc.com

Robert Baer, robert@lascoinc.com

Leap Strategic Marketing, LLC www.leapstrategicmarketing.com

Laura Bonesteel, laurag@leapmktg.com

Lenderful Solutions | www.lenderfulsolutions.com

Paul Lehnert, plehnert@lenderful.com

LERDAHL: Inspired Workplace Interiors www.lerdahl.com

Laurie Richards, lrichards@lerdahl.com

LIFT Consulting, LLC | www.lift.sandler.com

Dave Schwallier, dave.schwallier@sandler.com

Luse Gorman | www.luselaw.com

Kip Weissman, kweissman@luselaw.com

MACHA/PAR Network | macha.org

Mary Gilmeister, mgilmeister@macha.org

Mackinac Credit & Compliance www.maccreditcomp.com

Kelly George, kgeorge@maccreditcomp.com

Marco Technologies, LLC | www.marconet.com

Fred Kunkel, fred.kunkel@marconet.com

Mastercard | www.mastercard.com

Patrick Dwyer, patrick.dwyer@mastercard.com

Michael, Best, & Friedrich, LLP www.michaelbest.com

John D. Finerty, jdfinerty@michaelbest.com

Midwestern Securities www.midwesternsecurities.com

Anne Schutt, aschutt@midwesternsecurities.com

Milwaukee Economic Development Corporation | www.medconline.com

David Latona, david.latona@medconline.com

MoneyGram | corporate.moneygram.com/productsand-services/banking-solutions

Kim Gonsowski, kgonsowski@moneygram.com

NContracts | www.ncontracts.com

Kyle Welliver, kyle.welliver@ncontracts.com

New Era Technology | www.neweratech.com

Bradley Kinderman, bradley.kinderman@neweratech.com

NuSource Financial | www.nusourcefinancial.com

Hilary Lincoln, hilaryl@nusourcefinancial.com

Office Depot, Inc. | community.officedepot.com/ GPOHome?id=48962399

Darrin Quillen, dquillen@synergybai.com

Olsen Palmer, LLC | www.olsenpalmer.com

Brian Palmer, bpalmer@olsenpalmer.com

Optimal Blue | www.optimalblue.com

Jim Beran, jim.beran@bkfs.com

PACE Wisconsin | www.pacewi.org

Kimberly Johnston, kjohnston@slipstreaminc.org

PCBB | www.pcbb.com

Peter Glick, pglick@pcbb.com

Peoples Company | www.peoplescompany.com

Adam Crist, Adam.Crist@PeoplesCompany.com

Piper Sandler | www.pipersandler.com

Jason Mork, jason.mork@psc.com

Plansmith Corporation | www.plansmith.com

Mike Bilyeu, mike@plansmith.com

PULSE, a Discover Company www.pulsenetwork.com

Marie Braeutigam, mariebraeutigam@discover.com

QwickRate | www.qwickrate.com

Dan Clancy, dan.clancy@quickrate.com

R&T Deposit Solutions | www.reichandtang.com

Kevin May, kmay@rnt.com

Remedy Consulting | remedyconsult.net

Karen Lowerr, klowerr@remedyconsult.net

RSM US, LLP | www.rsmus.com

Michelle Czosnyka, michelle.czosnyka@rsmus.com

Ruder Ware | www.ruderware.com

David Anderson, danderson@ruderware.com

SBS CyberSecurity | www.sbscyber.com

Chris Damato, chris.damato@sbscyber.com

SCS Engineers, Inc. | www.scsengineers.com

Ray Tierney, rtierney@scsengineers.com

Securitas Technology Corporation www.securitastechnology.com/

Todd Ruhkick, todd.ruhkick@securitases.com

Spry Brands | www.sprybrands.com

Scott Brong, scottb@sprybrands.com

Steffes Group, Inc. | www.steffesgroup.com

Nate Larson, nate.larson@steffesgroup.com

Stephens Inc. | stephens.com

Lindsay Williams, lindsay.williams@stephens.com

StrataDefense | www.stratadefense.com

Matt Hildebrandt, matth@stratadefense.com

Strategic Resource Management www.srmcorp.com

Scott Eaton, seaton@srmcorp.com

Stroud, Willink, & Howard, LLC www.stroudlaw.com

Norman Farnam, nfarnam@stroudlaw.com

SupraNet Communications, Inc. www.supranet.net

Mary Jane Connor, mjc@supranet.net

Teslar Software | www.teslarsoftware.com

Zach Harrod, zach@teslarsoftware.com

The Ambrose Group | ambgrp.com

Willie Coffou, ambrose@ambgrp.com

The Independent Bankers Bank (TIB) www.tib.bank

Chuck Hudsepth, chudspeth@tib.bank

The Redmond Company www.theredmondco.com

Mike Nath, mnath@theredmondco.com

The Saturn Partners, Inc. www.saturnpartners.com

Carole Crawford, Carole@saturnpartners.com

Travelers | www.travelers.com

Erik Buoen, ebuoen@travelers.com

TruStar Advisors | www.trustaradvisors.com

Craig Mueller, cmueller@trustarbankadvisors.com

TurnKey Associates, L.C www.tkadesignbuild.com

Scott Voigt, scottv@tkadesignbuild.com

United States Department of Agriculture

Rural Development | www.rd.usda.gov

Kristin Peterson, Kristin.peterson@usda.gov

UnitedHealthcare – Wisconsin www.uhc.com

Angela Loberg, Angela_l_loberg@uhc.com

Vantage Point Solutions www.vantagepnt.com

Natalie Reed, natalie.reed@vantagepnt.com

Verafin | www.verafin.com

Amanda Evans, amanda.evans@verafin.com

Visa | www.visa.com

Paul Russino, prussino@visa.com

von Briesen & Roper, S.C www.vonbriesen.com

Karen Brunow, kbrunow@vonbriesen.com

WBD, Inc. | www.wbd.org

Lance Walter, lwalter@wbd.org

WIN Technology | wintechnology.com

Mike Mattiuz, mike.mattiuz@wintechnology.com

Wind River Financial, Inc www.windriverfinancial.com

Tom Kelly, tkelly@windriverfinancial.com

Winthrop & Weinstine, P.A. www.winthrop.com

Anton Moch, amoch@winthrop.com

Wisconsin Housing and Economic Development Authority (WHEDA) www.wheda.com

Ronald Slade, ronald.slade@wheda.com

Wisconsin Physicians Service Insurance Corporation | www.wpshealth.com

Anne Lainberger, anne.lainberger@wpsic.com

Wolf & Company, P.C. | www.wolfandco.com

Doug Gerth, dgerth@wolfandco.com

WWBIC | www.wwbic.com

Michael Hetzel, michael.hetzel@wwbic.com

Xamin | www.xamin.com

Anthony Garofalo, agarofalo@xamin.com

Young & Associates, Inc. | www.younginc.com

Nicole Conrad, nconrad@younginc.com

Get to Know Ryan Boebel: WBA’s 2024–2025 BOLT Section Chair

Ryan Boebel’s interest in community banking started at a young age. From cashing his change at the local bank to serving as a member of its Executive Management Team, Boebel credits much of his passion and success within the banking industry to opportunities provided to him by Community First Bank.

“I've always had such a positive perspective of the banking industry, largely in part because I have witnessed the impact that my local bank has had within my community,” notes Boebel. “Even from an early age, I could see how important banks, specifically locally owned community banks, were. The connection to its communities and culture within Community First Bank has further fueled my passion to becoming further involved in the industry.”

Boebel learned of career opportunities available at Community First Bank and began his banking career in 2011 as a high school intern and teller. Following high school, Boebel went on to pursue his associate degree at UW–Richland, his bachelor’s degree in business administration – finance at UW–Whitewater, and an MBA at UW–Parkside. All the while, Boebel was quickly advancing through the ranks, gaining experience in loan processing, credit underwriting, and lending.

Boebel began participating in the Wisconsin Bankers Association’s BOLT (Building Our Leaders of Tomorrow) program in 2017 upon a recommendation from his bank’s management. Bringing together hundreds of bankers annually, BOLT’s Leadership Summits provide a noncompetitive environment for bankers

to gain an introduction to advocacy, explore leadership development and educational growth opportunities, and focus on the importance of networking. Having been a BOLT member for over seven years, Boebel cites the open dialogue between members and valuable connections that he has made with peers as among the greatest benefits of his involvement.

“BOLT is a wonderful opportunity to provide further growth for professionals in our industry — regardless of the position, tenure, or title within the bank,” emphasizes Boebel. “The success that one may have in a career is largely impacted by what is learned on the job, but more importantly, what one is willing to learn from others.”

In January 2024, Boebel was promoted to Senior Vice President and Chief Credit Officer at Community First Bank. From a management perspective, Boebel sees BOLT as an impactful way to develop professionals and to bring insight back to the bank.

“During sessions, I often see peers making notes and discussing ideas to bring back to their banks. Whether it is a powerful perspective shared by a speaker or a topic of conversation had with peers, BOLT really empowers individuals to structure and organize their thoughts so that they can bring insight and improvements back to their respective management teams and say, ‘We discussed this...this is how others are approaching this challenge...or have we/should we consider doing this.’”

As the incoming 2024–2025 BOLT Chair, Boebel is excited to share his passion for community banking, empower the current and upcoming generation of leaders in the industry, and represent over 500 BOLT members. Especially as it relates to advocacy — a significant pillar of

By Hannah Flanders

the program — Boebel is focused on helping more bankers become further engaged and contribute to the longstanding success of the industry.

“I was initially hesitant to become involved in advocacy efforts, and I probably never would have become involved with the important work if not for BOLT,” Boebel admits. “Advocating for the industry and communicating the challenges that our industry faces to our elected representation is vital to our longevity as individual organizations and as an industry. Once you invest the time to listen, research, and understand the issues that are impacting the industry and your bank, it becomes more comfortable communicating with delegation and advocating for the banking industry. You come to realize it isn’t as uncomfortable as it may first appear; BOLT helps develop these perspectives through educating members.”

For many, BOLT provides the first opportunity for bankers to understand the importance of, and gain experience in, advocacy at both the state and federal level. With legislation and regulatory changes constantly impacting the banking industry, Boebel sees advocacy as a crucial tool for ensuring that the voices of bankers — especially those emerging into leadership positions — are heard and considered in the decision-making process.

From networking to advocacy, BOLT provides a comprehensive program for bankers to develop their skills, expand their knowledge, and contribute to the advancement of Wisconsin’s banking industry. With the next BOLT Leadership Summit just around the corner, a date range June 13–14, 2024, all banks are invited to identify their emerging leaders and encourage attendance at this summer’s event. Visit wisbank.com/Summit to register youself and your team.

WBF Awards 2023 Agricultural Banking Scholarship

The Wisconsin Bankers Foundation (WBF) has awarded Chad Achenbach, junior at UW–Platteville, and Taylor Lindsay, junior at UW–River Falls, with the 2023 Agricultural Banking Scholarship. Demonstrating the Foundation’s commitment to cultivating the next generation of agricultural bankers in Wisconsin, the Agricultural Banking Scholarship is offered annually in the fall. Two $1,500 scholarships are awarded to students attending an accredited public or private, non-profit college, university, or technical college who demonstrate in their application a strong understanding of the importance of financial literacy and are actively pursuing a career in agricultural finance.

“In awarding the Agricultural Banking Scholarship to two deserving individuals, the Foundation aims to support and encourage the growth of talent in the agricultural finance sector,” said Foundation Chair Rose Oswald Poels. “I am pleased to recognize Chad and Taylor for their achievements and outstanding commitment to Wisconsin’s agricultural industry and wish them the very best in their future agribusiness careers.”

To learn more about the Wisconsin Bankers Foundation, please visit wisbankfoundation.org.

Did Your Team Take Part in Any Financial Education Activities This Year?

Every year, bankers throughout Wisconsin go above and beyond in their mission to provide financial education for their communities. As many bankers head to the classrooms, community centers, or libraries this spring to help expand the financial capability of individuals throughout their communities, all WBA members are invited to track their activities as they go by submitting their financial education-related events and presentations to the Wisconsin Bankers Foundation (WBF).

(left to right) are: Cassandra Krause, executive director, Wisconsin Bankers Foundation; Chad Achenbach, 2023 WBF Agricultural Banking Scholarship recipient; and Cody Kirschbaum, vice president – ag relationship manager, Peoples State Bank.

(left to right) are: Michael DeLong, vice president – commercial/agriculture loan officer, Pillar Bank; Cassandra Krause, executive director, Wisconsin Bankers Foundation; Jenny Jereczek, director of agriculture banking & market president –Durand, Security Financial Bank; Taylor Lindsay, 2023 WBF Agricultural Banking Scholarship recipient; Dr. Brenda Boetel, professor and Agricultural Economics department chair, University of Wisconsin – River Falls; and Tony Betley, vice president – senior agricultural banking officer, Nicolet National Bank.

The summary forms — for tracking individual and bank-wide efforts in improving financial literacy and capability — represent all activities that take place between June 1, 2023, to May 31, 2024.

Banker participation in submitting the annual summary forms assists the Foundation in better understanding the financial education activities of banks throughout the state and curating materials for banker use. These reported activities are then compiled for recognition.

Visit wisbankfoundation.org/financial-education-awards to access the 2023–2024 forms. Contact Cassandra Krause at ckrause@wisbank.com if you have questions regarding the forms or your bank’s participation in this year’s events.

Thursday, September 12, 2024 5:30–9:30 p.m.

Wisconsin Historical Society 816 State Street, Madison, WI 53706

Tickets: $150/individual or $1,000/group of eight wisbankfoundation.org/gala

Pictured

Pictured

By Heather Calnin

Getting More Done with Less

In the banking industry, operating efficiently is crucial — not just for growth but for survival. Every department, from the front lines of customer service to the backbone of operations, feels the pressure to do more with less. However, the real art lies not in cutting efforts but in crafting smarter, more sustainable strategies to hit our goals.

Discovering Common Challenges

The first step toward efficiency is understanding the main hurdles or questions that pop up again and again, whether from customers or our own team members. Once you’ve identified these, create your helpful materials — think FAQs, how-to videos, or even step-bystep walkthroughs. This is about giving our customers and staff the keys to solve problems on their own, cutting down on those time-consuming calls and emails.

An “A” for Automation

Automation is a powerful tool for increasing efficiency. By automating the everyday stuff, we free up our teams to dive into the deeper end of customer needs and strategic planning. Plus, it's a game-changer for keeping tasks error-free and consistent.

Choosing What Gets the Green Light

Efficiency isn't just about doing things faster but also doing the right things. In a world where resources aren't endless, we've got to be choosy about what gets our attention and aligns with our vision. This means saying no to projects that — while might be potentially beneficial — don't line up with our big-picture goals. Prioritize tasks based on their impact on these goals and the customer experience. Create or use a system that categorizes tasks by urgency and importance, helping to manage resources wisely and make a real difference where it counts.

a Cyber Criminal!

The Power of Communication & Collaboration

Communication is the glue that holds everything together,

Barbie Could

a Cyber Criminal!

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collaboration is the norm. Setting up clear ways to talk to each other, understanding everyone's deadlines and needs, and having regular check-ins can smooth out those misunderstandings that slow us down.

Embracing AI

The leap into AI might seem like a giant one for community banks, especially with all the worry about data security and the hassle of integrating new tech. Tools like ChatGPT present a unique opportunity, allowing you to configure your account to reflect your bank's brand guidelines, roles, and personality; helping out with everything from customer communication to content creation and more. This approach allows your bank to enhance efficiency and maintain a consistent brand voice, all while adhering to strict security standards.

Never Stop Learning

The last thing that is just as critical is nurturing a culture that's all about learning and evolving. Whether we’re learning from successes or struggles, the goal is always to be open to fresh ideas to tweak processes and offerings. This isn't just about chasing efficiency; it's about building a team that's ready to adapt and thrive, no matter what the world throws our way.

Calnin is director of marketing and business development at BLC Community Bank, Little Chute, and member of the 2023–2024 WBA Marketing Committee.

Join a WBA Connect Peer Group

• Allies for DEI in Banking

• Bank Trainers

• Commercial Lending

• Enterprise Risk Management

• Human Resources &

Organizational Development

• Marketing

• Retail Banking

non-competitive environment where members can discuss all

Currently, bankers are invited

• Small Business Bankers

• Technology & Operations

• Treasury/Cash Management

To learn more about WBA Connect, or join a peer group, visit wisbank.com/Connect.

Banking in the Age of Generative AI

By interface.ai

Introduction to Generative AI in Banking

The advent of Generative AI heralds a new era in banking, revolutionizing every aspect, from foundational principles like trust to the realms of experience, personalization, and underwriting. With its unparalleled capabilities, Generative AI is poised to transform the entire landscape of banking in the years to come. Its impact is profound, as evidenced by staggering adoption rates. For instance, while it took fourteen years for popular products like the iPhone to amass a hundred million users, ChatGPT achieved this feat in just two months.

Understanding Generative AI

Generative AI refers to machine learning models trained on vast datasets, enabling them to recognize patterns and generate original content across various mediums such as text, music, images, and

videos. These models possess the unique ability to create entirely novel content based on the patterns they discern from extensive training data. Within Generative AI, large language models (LLMs) specialize in generating original textual content, leveraging their focus on language.

The Advantages of Generative AI in Banking

The advantages of Generative AI are manifold. These models rapidly assimilate knowledge from vast public datasets, appearing remarkably knowledgeable. Moreover, they demonstrate a comprehensive understanding of the world and continue to refine their capabilities over time.

Challenges and Solutions

However, Generative AI also presents challenges. It lacks domain-specific knowledge, often producing plausible but inaccurate results. Additionally, its reliance on internet data exposes it to security and compliance risks, particularly in regulated industries like banking. Moreover, the opacity of its decision-making processes poses challenges for auditability and explainability. To make the technology and its vast benefits

• IT Auditing

• Cyber Security Consulting

• Vulnerability & Penetration Testing

• Board Cyber Security Awareness

• GLBA Compliance & IT Risk Assessment

• Managed Social Engineering with Integrated Learning Management System

• Facilitated DRP/BCP Tabletop and IRP Testing

• Threat Intelligence Briefings

Contact FIPCO’s Rob Foxx to get started. rfoxx@fipco.com 800-722-3498 x 249 www.FIPCO.com

by generative AI by leveraging a hybrid approach that combines foundational models with proprietary bankingspecific language models. This hybrid system mitigates the risks associated with foundational models while retaining their value for regulated industries like banking.

Transformative Impact on Banking

Generative AI promises transformative impacts across five key areas in banking. Notably, it revolutionizes customer and employee experiences by automating interactions, personalizing journeys, and facilitating upselling and cross-selling opportunities. Moreover, it streamlines operations — particularly in loan approval processes — by expediting data gathering, evaluation, and decisionmaking. Additionally, Generative AI enhances compliance efforts by improving fraud detection and risk management. It also facilitates dynamic forecasting and reporting, empowering finance teams to transition from operational to strategic roles.

The Future of Banking with Generative AI

In conclusion, Generative AI is poised to reshape the banking landscape, offering unparalleled opportunities for innovation and efficiency across various domains. interface.ai stands at the forefront of this transformation, harnessing the power of Generative AI to reimagine banking experiences and operations for the better.

FIPCO is a subsidiary of WBA and a WBA

New Associate Members

Ironwood

Website: www.teamironwood.com

Specialties: Payment Processing; Software Solutions

Ironwood is a national merchant services provider specializing in agent and referral partnerships with financial institutions (FIs).

KlariVis

Website: www.klarivis.com

Specialties: Information Technology/Cybersecurity; Software Solutions

KlariVis® is the only cloud-based, core-agnostic enterprise dashboard and analytics solution built for bankers, by bankers.

Midwestern Securities

Website: www.midwesternsecurities.com

Specialties: Investment Services

Midwestern Securities is a privately held broker-dealer/RIA that provides custom solutions for community financial institutions to upgrade their existing retail investment and trust divisions to grow non-interest income and reduce deposit outflow to outside investment companies.

Stephens Inc.

Website: www.stephens.com

Specialties: Consulting Services; Investment Services

Stephens Inc. senior depository banking team provides expert market intelligence, advisory and execution services while aligning clients as partners and not competitors.

BankWork$ Builds Meaningful Careers in Banking

Congratulations, graduates!

BankWork$ is a free, eight-week training program to prepare participants — primarily individuals from underresourced communities — for retail banking careers. The nationwide program was brought to Wisconsin in 2019 through a partnership between the Wisconsin Bankers

BIG DOGS COMPETE WITH THE

Association (WBA) and Employ Milwaukee. So far, BankWork$ has provided over 130 individuals in the Milwaukee area with the opportunity to begin a career in banking.

In December, a class of six students — including Yazmin Franco Luna, Timesha Gray, Alesha Hodges, Shatyea Patterson, Mariana Simas, and Chapa Wijendra — graduated from the program. WBA’s Rose Oswald Poels attended the ceremony and congratulated the graduates on their achievement.

Over the course of the eight-week program, students learned the hard and soft skills necessary for entry-level retail and operations positions. Upon graduation, each graduate had the opportunity to take part in on-the-spot interviews with BankWork$ employer partners.

Pictured (left to right) are: Adriene Wright, BankWork$ instructor; Alesha Hodges; Timesha Gray; Rose Oswald Poels, WBA president and CEO; Yazmin Franco Luna; Mariana Simas; Chapa Wijendra; and Shatyea Patterson

First Cohort of Bankers Begin BOLT Leadership Academy

By Daryll Lund

For over 10 years, the Wisconsin Bankers Association has seen hundreds of bankers take the next steps in their careers through participation in the BOLT (Building Our Leaders of Tomorrow) biannual Summits. Earlier this year, the Association announced its continued investment into the future leaders of Wisconsin’s banking industry through the creation of the BOLT Leadership Academy. With spring now in full bloom, our first cohort of 22 bankers (listed below) are just getting started with the 15-month program.

Designed for highly motivated emerging bank leaders, the BOLT Leadership Academy is specifically focused on providing extensive industry and leadership education, along with several networking opportunities for the group. In addition to providing participants with the opportunity to form connections with their peers during the in-person Summits, the Academy features several other programs developed exclusively for the selected cohort members.

Lund is WBA executive vice president and chief of staff.

Introducing the 2024–2025 BOLT Leadership Academy Cohort:

• Elizabeth Abel, Paper City Savings Association, Wisconsin Rapids

• Jacob Bauer, Security Financial Bank, Eau Claire

• Kailey Bauer, Horicon Bank

• Jodie Curtis, Union State Bank, West Salem

• Chris Damerell, Forward Bank, Marshfield

• Mike DeLong, Pillar Bank, Baldwin

• Steven Diehl, Bank First, Manitowoc

• Shannon Grunewald, Waldo State Bank

• Lance Hauser, Park Bank, N.A., Sparta

• Alyssa Higley, The Stephenson National Bank & Trust, Marinette

The curriculum for Academy participants will cover a wide range of essential topics, including gaining deeper insight into the factors affecting bank performance, effective communication, and strategic leadership. Additionally, with advocacy being so central to the success of our industry, BOLT Leadership Academy members will also take part in WBA’s annual Capitol Day to further their understanding of legislative processes and advocate for policies that support the banking sector's growth and stability.

For WBA, empowering emerging bank leaders with the knowledge, skills, and networks they need to succeed in today's competitive and rapidly evolving banking industry is just one aspect of our ongoing commitment to the future vitality and sustainability of Wisconsin’s banking industry. Although the Academy will not be accepting applications to join the next cohort until 2025, banks are invited to encourage their emerging leaders’ attendance at WBA’s BOLT Summer Leadership Summit June 13–14. To learn more about the BOLT Leadership Academy or BOLT biannual Summits, please contact WBA Director – Education Lori Kalscheuer at lkalscheuer@wisbank.com.

• Travis Immel, National Exchange Bank & Trust, Fond du Lac

• Jessica Islas, First Citizens State Bank, Whitewater

• Jessica Lehman, FVSBank, Fond du Lac

• Hope Marvin, Independence State Bank

• Jamie Nystrom, The Peshtigo National Bank

• Janessa Plank, IncredibleBank, Wausau

• Michelle Rauls, Lake Ridge Bank, Waunakee

• Aaron Schmidt, Premier Community Bank, Marion

• Mike Solt, Bank of Sun Prairie

• Alex Swanson, Northwestern Bank, Chippewa Falls

• Landon Turner, Oostburg State Bank

• Hannah Woller, Shell Lake State Bank, Hayward

Community Advocate Spotlight

Wisconsin bankers are the definition of “community advocates” in all that they do every day to improve their local economy through bank products and services, as well as through generous philanthropy of time and money. The Community Advocate Spotlight shares and celebrates the diverse backgrounds, experiences, perspectives, and innovation of some of the extraordinary bankers in the state.

Questions and Answers

The following is a brief interview between WBA President and CEO Rose Oswald Poels and First National Bank of River Falls President and CEO Jeff Johnson

Rose: How did you first get into the banking industry?

Jeff: After graduating from UW–Whitewater in 1987, I landed my first “real job” as a bank examiner with the Federal Deposit Insurance Corporation (FDIC) in Milwaukee. As you might imagine, it was quite an education for a 22 year old, as the savings and loan crisis was at its peak. The FDIC hired hundreds of new college graduates throughout the country in the late 80s, and we were thrown right into the fire despite the fact that most of us really had little education in our industry.

Our office traveled quite a bit, and we spent a great deal of time in New England, New York City, and the southwest part of the country. In my mind, there is no better opportunity for someone to learn about banking than to take a job out of college as a regulator.

After seven years with the FDIC, I decided that I had enough of the travel, and ended up taking a position as a lender at PremierBank in Fort Atkinson. I spent most of the next 15 years in the Fort Atkinson/Jefferson area, before my family and I came up to River Falls in 2009 to take the CEO job at First National. Throughout my career I have worked in a variety of areas, including lending, human resources, and bond portfolio management.

What is your favorite aspect of your role at the bank?

Like everyone who is reading this, I am a huge fan of the community banking model. Having the ability to quickly and efficiently help customers with their financial needs is so very important, and community banks do a better job of that than anyone. I’m certainly biased from working in community banks for the last three decades, but the ability to make local decisions is a huge differentiator, and it sets us apart from many of the larger banks.

Also, I am so grateful that our bank ownership group, the Smith family, allows us to make such a positive impact throughout our communities. In addition to significant financial gifts, our staff regularly donates over 3,000 hours of their personal time to support local causes that they are passionate about. Banks are only as strong as their communities, thus it is our responsibility to give back as much as we are able. I am blessed to work alongside such a fantastic group of teammates that share the same desire to give back to others. I wouldn’t trade them for anyone!

What do you wish the general public understood about the banking industry?

That we are not all the same. There is a big difference between community banks, large mega-banks, and credit unions. Of the

three, we (community banks) are much more reliant on the success of our customers and the communities that we serve. And like I said earlier, nobody provides more efficient customer service than community banks. Also, I am constantly astounded by the fact that the vast majority of people have no idea that credit unions are tax-exempt. I can’t tell you how many conversations I have had with people over the years about this subject, and it is rare when I come across an individual that is aware of this advantage that credit unions have over others. I’m not sure it will happen in my lifetime, but I remain hopeful that someday we will all be able to play on an equal playing field.

Where do you believe the industry’s greatest challenges are in the next three to five years?

Short term, our biggest challenge as an industry will be treading water until rates start to decline. The housing market has grounded to a complete standstill due in large part to high rates, and community banks like us typically rely on this area to provide significant revenue.

Long term, it will be really important for us to promote the fact that community banking is a great place to build a career. Where else do you have the opportunity to help others with their financial needs, build relationships with teammates, and give back to your community? We have so many different career paths — lending, finance, accounting, customer service, marketing, IT, human resources, and many others. There are a large number of current bankers in the 55–65-year-old range and nearing retirement and finding talented individuals to provide succession will be a big challenge for all of us.

Please describe your current role at your bank and share with us one of your more rewarding experiences.

After nearly 37 years in our industry, there are so many things that come to mind. People that I have worked with, non-profits that we have helped through financial support or volunteerism, bank scholarship recipients, the businesses we helped out with the Paycheck Protection Program (PPP) program, etc.

About two years ago, I received a call from a former customer in Fort Atkinson who I helped purchase an insurance business over 30 years ago. I hadn’t talked to him since we moved to River Falls 15 years ago. He was getting ready to retire and was closing on the sale of his business later that day. He called to thank me for taking a chance on him many years ago when nobody else would. He said without that help, he wouldn’t be in the position that he is today. Aside from being humbled by his call, it caused me to pause and reflect on the tremendous impact that we all have within our local communities. That’s something that we can’t ever put a price tag on, and it’s the reason why many of us choose to devote our lives to this great industry.

Bankers Marketplace

Agricultural Loan Officer

Citizens State Bank of Loyal is seeking an agricultural loan officer. This position is responsible for:

• developing and maintaining a portfolio of agricultural loan accounts;

• making loans to individuals, partnerships, and corporations engaged in agricultural production;

• analyzing loan applications, auditing loan files, servicing existing loans, and counseling customers in an effort to reduce delinquencies and meet departmental goals for increasing loan volume; and

• aggressively selling and promoting all bank services in such a way as to enhance bank earnings and the bank’s image within the community.

To apply, please contact Jasmine Gross at jgross@csbloyal.com.

Chief Financial Officer

Northwestern Bank, a proud member of the greater Chippewa Valley community since 1904, is currently seeking a Chief Financial Officer to lead our reputable and growing community bank where we aspire to build stronger communities, where people matter. This bank leader must exemplify our core values of deliver an exceptional experience, shine through service, lead with integrity, create positive impact, and foster genuine relationships.

This applicant must have a bachelor’s degree in accounting, or equivalent, and at least three years of experience working in a $500MM+ bank. This non-remote position will be responsible for serving as the bank’s lead financial executive, overseeing and representing the bank’s accounting department and all financial and accounting operations of the bank. This position is responsible for strategic financial recommendations and implementation adhering to all related generally accepted accounting principles, tax and regulatory laws, rules, and regulations to accurately reflect the financial position of the bank at all times.

The ideal candidate will have strong leadership and supervision skills, excellent interpersonal and communication skills, a thorough understanding of GAAP and subchapter S banking, have a strong sense of attention to detail with a high degree of accuracy, be of high moral character and integrity, have excellent common sense and problem-solving skills, have a professional demeanor and appearance and is able to interact professionally with a wide variety of people.

In addition to a competitive compensation and bonus package, the following benefits will be offered (list is not all-inclusive):

• Health, Dental, Vision, Life and LTD insurance

• Sick, Vacation, Paid Holidays, Bereavement, and paid Parental Leave

• Generous 401K plan

• Well-rounded Employee Assistance Program

To learn more or apply, please visit northwesternbank.com/careers.

Visit wisbank.com/classifieds to view a full listing of job postings or for more information on placing or responding to an ad.

Wisconsin Banker

WBA Mission Statement

We actively advocate for, educate, and support our members to help them positively impact the Wisconsin communities they serve.

Association Officers:

Donna J. Hoppenjan (Chair), President/CEO, Mound City Bank, Platteville

Alvaro (Al) Araque (Chair-Elect), Senior Vice President, Director of Consumer, Private, and Small Business Banking, Johnson Financial Group, Racine

Paul J. Northway (Vice Chair), President/CEO, American National Bank – Fox Cities, Appleton

Daniel J. Peterson (Past Chair), Executive Chairman, The Stephenson National Bank & Trust, Marinette Rose Oswald Poels, President/CEO, Wisconsin Bankers Association, Madison

Association Board of Directors:

Kelly Heroux, President/CEO Peshtigo National Bank

Paul A. Hoffmann, President Lake Ridge Bank, Middleton Shay Horton, President & CEO Cumberland Federal Bank

Ryan T. Kamphuis, President/CEO Bristol Morgan Bank, Oakfield

Greg Lundberg, President/CEO Fortifi Bank, Berlin

Jay C. Mack, President/CEO Town Bank, N.A., Hartland

Thomas Mews, President First National Community Bank, New Richmond

Anthony (Tony) Nguyen Eastern Minnesota/Wisconsin/Chicago Regional Bank Director, Senior Vice President Wells Fargo Bank, N.A., Milwaukee

Greg A. Ogren, President/CEO Security Bank Shares, Inc., Iron River Joe Peikert, President/CEO Wolf River Community Bank, Hortonville

Daniel J. Ravenscroft, President/CEO Royal Bank, Elroy

William (Bill) Sennholz, CEO Forward Bank, Marshfield

The Wisconsin Banker is published by the Wisconsin Bankers Association, 4721 South Biltmore Lane, Madison, WI 53718; Telephone: 608-441-1200; wisbank.com.

Cassandra Krause, Editor 608-441-1216; ckrause@wisbank.com

Advertising: sales@wisbank.com

To report a change of address, please email us at requests@wisbank.com.

The publication of advertisements does not necessarily represent endorsement of those products or services by the Wisconsin Bankers Association. The editor reserves the right ot reject any advertising or editorial copy deemed unsuitable for publication for any reason. Copy deadline is eight business days before publication date.

Disclaimer: With the exception of official announcements, the Wisconsin Bankers Association disclaims all responsibility for opinions expressed and statements made in printed articles and advertisements in the Wisconsin Banker. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is distributed with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional services. If legal or accounting advice or expert assistance is required, the services of a qualified professional should be sought.

May 2 Human Resources Conference

Wisconsin Dells – $245/attendee 7 CFO Conference

Madison – $245/attendee

8–9 Personal Banker School

Wausau – $495/attendee 9 FDIC Bank Directors College

Madison – $225/attendee

14–15 BSA/AML Compliance Conference

Wisconsin Dells – $450/attendee

15–16 Principles of Banking

Mineral Point – $550/attendee

22–23 Principles of Banking

Wausau – $550/attendee 23 Trust Conference Madison – $245/attendee

June

13–14 BOLT Summer Leadership Summit

Wisconsin Dells – $250/attendee

25 Compliance Forum: Session I

Wisconsin Dells – annual membership/pricing varies

July

23 Community Bankers for Compliance (CBC) –Session III

Virtual half-day – annual membership/pricing varies 7/30–8/1 Agricultural Lending School

Madison – $895/attendee; optional pre-school workshop on 7/29 – $200/attendee

August

15 Chair’s Member Appreciation Golf Outing Wisconsin Dells

September

10–11

Secur-I.T. Conference

Wisconsin Dells – team pricing available

18 FIPCO Software & Compliance Forum: Loan & Mortgage

Wisconsin Dells or virtual

September

23–24

Management Conference

Green Bay – team pricing available

TBD IRA Workshops

Location(s) TBD – Essentials and Advanced sessions

October

8–10

10–11

15–17

17

Commercial Lending School

Madison – $895/attendee

Family-owned & Closely Held Bank Strategic Retreat

Madison

Deposit Compliance School

Madison or virtual – $795/attendee

Regulation E Workshop

Madison or virtual – $275/attendee

17 Directors Summit

Madison

22 Community Bankers for Compliance (CBC) –Session IV

21–22

Virtual half-day – annual membership/pricing varies

Supervisor Boot Camp

Madison – $535/attendee

TBD BSA/AML Workshop

One-day workshop, location(s) TBD

TBD Principles of Banking

Two-day sessions, location(s) TBD – $550/attendee

KEY: Color-Coded Event Descriptions

Conferences/Summits – One or more days, based on hot topics, industry news and best practices, scheduled time for peer networking

Schools/Boot Camps – Focused on a particular area of banking, allowing for a deep dive into that focused area over the course of two to six days

Workshops/Seminars – One-day programs, sometimes in multiple locations, focused on a specific topic or area of banking.

WBA-Hosted Webinars – Two-hour webinars instructed with a particular focus on Wisconsin state law and rules.

Other Events