December 2022 Wisconsin Banker

Bank On Greater Milwaukee Empowers Families Statewide

Over three years of connecting consumers to financial services and products

By Hannah Flanders

From youth to formerly incarcerated individuals reentering society, Bank On has helped in connecting thousands of underbanked individuals with financial services across the state. Since the launch in 2019, Bank On Greater Milwaukee — a local coalition of the national Bank On movement — has assisted more than a dozen financial

institutions in certifying specific accounts that comply with the standards set by the Cities for Financial Empowerment Fund (CFE Fund).

What is Bank On?

Across the country, Bank On has led financial institutions of all sizes to connect with individuals who lack a banking

relationship. By identifying barriers to opening and sustaining healthy accounts, Bank On has not only connected more individuals than ever with banking services, but also helped promote safe and appropriate accounts in mainstream financial institutions.

In the greater Milwaukee area, the Bank On initiative has specifically targeted its focus on local youth, first-time job seekers, and families with disabilities in gaining access to financial services.

“Our goal as an organization is to assist financial institutions in establishing the initial relationship with unbanked individuals,”

states Constance Alberts, program director at Bank On Greater Milwaukee.

“By laying the foundation for our community members to build wealth and reach their goals, these customers are able to move to the next level — taking out loans or mortgaging a new house. This first step

(continued on p. 20)

Banks

By Paul Gores

Banks interested in joining next year’s rollout of the FedNow faster payments service should be preparing for it today, those familiar with the program say.

FedNow, a Federal Reserve payments service similar to The Clearing House’s RTP network, is scheduled to be offered to banks in the U.S. as soon as May of 2023.

According to the Fed, the FedNow Service will facilitate the nationwide reach of instant payment services by financial institutions, regardless of size or geographic location, and do it around the clock, every day of the year.

Businesses and consumers will be able to send and receive instant payments at any time of day via banks and credit unions that use FedNow. Recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments, the Fed says.

“Wisconsin banks have been very innovative over the years, and this is another innovation that’s coming that Wisconsin banks should be looking at and should

be adopting when they are ready,” said Todd Koehn, vice president for faster payments solutions at Bankers’ Bank. “It potentially could be a game changer for their customers.”

FedNow currently is conducting a pilot program with more than 100 banks, core processors, and other third-party organizations involved with payments technology.

The U.S. has trailed Europe and some parts of the world in developing an instantpayment network. While the privately owned Real Time Payments network, or RTP, is available to American banks, the Fed felt like it needed to play a role to expand the fast-payments realm, experts said.

Join Us at the Bank Executives Conference in February

By Daniel J. Peterson

I would like to formally invite all WBA-member banking executives and leaders in Wisconsin to join me at WBA’s Bank Executives Conference.

As Wisconsin’s largest gathering of bank executives, this premier event offers nationally recognized speakers, expert knowledge on relevant leadership and banking topics, and various opportunities to network among peers.

This year’s conference will be held February 8–10 at the Kalahari Convention Center in Wisconsin Dells.

Featuring several general and breakout sessions, banker-only peer groups, and recognition of several prestigious awards — there will no doubt be something of interest for every leader in your bank.

The unifying theme of the 2023 Bank Executives Conference will be “All In.” As many of us reflect upon the unpredictability of the past several years, I encourage you and your executive team to identify the ways in which your bank has demonstrated its commitment to the industry and communities you serve.

Although the banking industry continues to evolve, Wisconsin bankers have time and time again proven themselves vital to the prosperity and success of their neighborhoods — as the cornerstones of our state. I look forward to reconvening in the Dells to celebrate these accomplishments and the dedication WBA members have shown no matter the circumstance.

As innovation and technology remains a focal point in our society, this year’s event will also include a FinTech Showcase. The showcase will feature live demonstrations of eight FinTech products. Following the short presentations, bankers will have the opportunity to connect with the exhibitors and learn more about their products.

Our Association stands ready to arm bankers with the

resources and knowledge to stay relevant and resilient for years to come. With over ten hours of general and breakout sessions spread across the three days and networking opportunities around every corner — bank executives will leave this year’s event motivated to take action in 2023 and beyond.

I challenge each WBAmember bank to be “All In” this year, and attending the WBA Bank Executives Conference is the perfect opportunity to gain valuable knowledge, make connections, and take charge of your bank’s next challenge. Registration is open now at wisbank.com/BEC — I look forward to seeing you soon!

Peterson is president and CEO of The Stephenson National Bank & Trust, Marinette, and the 2022–2023 WBA Chair.

ALL IN

Bank Executives CONFERENCE

FEBRUARY 8–10, 2023

Kalahari Resort & Convention Center, Wisconsin Dells wisbank.com/BEC

Message from the Chair

Daniel J. Peterson

Managing Online Stop Payment Orders Ensuring satisfactory written instruction for electronic payments

By Scott Birrenkott

QCan a Stop Payment Order for a Check Be Made Electronically?

Compliance

Q&A

Visit the compliance section of the WBA website at wisbank. com/resources/compliance

Legal Hotline:

A

Answer: Yes. An electronic stop payment order can be given for a check electronically and would be effective for six months.

Wisconsin Statute section 404.403 provides that a stop payment may be given by an order to the bank describing the item with reasonable certainty received at a time and in a manner that affords the bank a reasonable opportunity to act on the stop payment request. This order may be made orally or in writing. The statute provides that if the order is oral and not confirmed in writing, it is valid for 14 days. A written order is valid for six months, and the oral order must be confirmed in writing (before the end of the 14-day period) for it to be extended to six months.

The rule does not discuss online stop payment orders, nor have the courts yet interpreted whether an electronic stop payment is oral or in writing. For example, a stop payment

Scott Birrenkott

made online, through bank’s website platform, or mobile application. However, it is WBA’s understanding that such an electronic stop payment would be considered “in writing” and thus, effective for six months.

As stated, the statute provides that a stop payment may be given by an “order.”

The Uniform Commercial Code (UCC) defines an order as “a written instruction to pay money signed by the person giving the instruction,” establishing that an order must be written and must be signed. The UCC further provides that a writing “includes printing, typewriting, or any other intentional reduction to tangible form.” Although the UCC’s definition does not include “electronic,” or other such means, WBA believes that a valid argument exists that an

electronic file can be reduced to a tangible form by printing the document. For example, electronic writings have been held to satisfy the writing requirement of the statute of frauds. Furthermore, The UCC defines “signed” as “any symbol executed or adopted with present intention to adopt or accept a writing.”

For the above reasons, it is WBA’s understanding that an electronic stop payment order would satisfy the writing requirement of the UCC. Banks offering the ability to issue an electronic stop payment should confirm the methods for doing so in accordance with the discussion above, to determine whether it aligns with this rationale.

For any questions regarding stop payments, or other topics, please contact WBA legal at wbalegal@wisbank. com or 608-441-1200. Additional compliance resources can be found on the

The WBA Legal Department does more than address legal concerns for the Association; it provides tangible assistance to member banks via its free legal call program. The Association’s team of attorneys work to relieve some of the industry’s compliance pressure as a timely resource for a wide variety of legal inquiries.

Submit your legal inquiry via email (wbalegal @wisbank.com) or by calling the legal hotline at 608-441-1200.

WBA website: wisbank.com/ resources/compliance

Birrenkott is WBA director – legal. For legal questions, please email wbalegal@wisbank.com.

Note: The above information is not intended to provide legal advice; rather, it is intended to provide general information about banking issues. Consult your institution’s attorney for specific legal advice or assistance.

WBA Files Comments on the FHFA’s Review of the FHLB System

Summary of a recent comment letter below

On October 31, WBA filed comments on FHFA’s request for comment on its comprehensive review of the FHLB system. As part of its review, FHFA has requested comment within six areas, which overall, discuss FHLB’s operation. WBA commented in support of FHLB’s mission,

providing examples of how the system plays a vital role in supporting affordable, equitable, and sustainable access to mortgage credit.

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

WBA Compliance Resources Online

It is critical, now more than ever, that bankers stay up to date on the latest regulations, best practices, and other legal matters.

For copies of this or other WBA comment letters, please contact the WBA Legal Department at 608-441-1200 or visit www. wisbank.com/CommentLetters

As such, the WBA Legal Team has created a variety of toolkits and resources — ranging from the CFPB’s Section 1071 proposal to unclaimed property dormancy — free for bankers use at wisbank. com/resources/compliance

2022 Midterm Election

Continuing our momentum into next year

By Lorenzo Cruz

Across the state, nearly 57% of eligible voters hit the polls on November 8 to vote in the midterm election. It was a good night for incumbents and, despite political pundits predicting a red wave, Wisconsin remains a purple battle ground state.

Statewide Races

At the top of the ticket in this election was the race for Wisconsin Governor between incumbent Tony Evers (D) and construction business executive Tim Michels (R). The closely fought race was deemed a tossup in the final polls leading up to the election. In the end, Evers was reelected to a second term as Governor with new Lt. Governor Sara Rodriguez winning 51.2% of the vote.

Advocacy Update

Lorenzo Cruz

Additionally, Incumbent Attorney General Josh Kaul (D)successfully defeated challenger Fond du Lac District Attorney Eric Toney (R)by a slim margin of 50.7%–49.3%, longtime Democratic incumbent Doug La Follette had .3-point edge over State Representative Amy Loudenbeck (R-Clinton) at 48.3%–48.0% in the Secretary of State race, and John Leiber (R) held on to his lead to win against Mayor Aaron

Richardson (D) in the State Treasurer’s race with 49.6% to Richardson’s 48.2%.

U.S. Congress

In the hotly contested U.S. Senate race between incumbent Ron Johnson (R)and former Lt. Governor Mandela Barns (D), Johnson held his position over Barnes at 50.5%–49.5%.

Following the retirement of longtime Congressman Ron Kind (D-La Crosse) in Wisconsin’s third congressional district, Brad Pfaff (DOnalaska) and Derrick Van Orden (R-Prairie du Chien) battled for an open seat in the U.S. House of Representatives. Van Orden secured his victory by almost a 4-point margin at 51.9% and Pfaff at 48.1%.

In the remaining congressional races, there were no surprises as all of Wisconsin’s incumbents in the U.S. House of Representatives held on to their seats.

Take comfort in the sound investments of ICBA Securities.

Cover your community bank in the comfort of knowing you have quality investment products.

While the GOP is poised to take the majority in the U.S. House of Representatives — Democrats currently have 212 seats while the GOP holds 218 seats — U.S. Senate majority control could remain in the air. Currently, Democrats hold 50 seats and Republicans hold 49 seats in the Senate.

Wisconsin State Legislature

The Senate Republicans stayed on course to net the one seat needed to gain the twothirds majority. The GOP now controls the Senate with a 22–11 supermajority. In the other House, the Assembly Democrats thwarted the GOP’s efforts to add five more seats to reach the two-thirds veto-proof majority. Assembly Republicans increased their majority by three seats to 64–35.

Two former bankers were on the ballot for the

Has

Your Bank Achieved Gold Triangle Status?

Political giving doesn’t end with the election. Now’s the time to secure your membership in WBA’s highest level of fundraising recognition for banks — the WBA Gold Triangle Club!

So far this year, 51 banks have achieved WBA Gold Triangle Club status for their direct support and active involvement in vetting our industry.

If your bank is interested in achieving WBA Gold Triangle Club recognition or would like to learn more, please visit wisbank.com/ give or contact WBA’s Lorenzo Cruz at 608-441-1206 or lcruz@wisbank.com for more information.

State Assembly this election.

Incumbent Representative Terry Katsma (R-Oostburg) won his race convincingly by almost 63% against challenger Lisa Salgado (D) in District 26. In District 52, newcomer Jerry O’Connor (R-Fond du Lac) secured the victory with more than 62% of the vote over Joe Lavrenz (D).

With the elections now in the rearview mirror, the Wisconsin Bankers Association (WBA) Government Relations team looks forward to continuing to meet with returning elected officials on WBA’s legislative and budget priorities and welcoming the 32 new legislators. The team also looks forward to and serving as the industry’s voice and leading advocate on banking issues with elected officials and their staff.

*Results tallied as of noon, Monday, November 21, 2022.

Cruz is WBA vice president –government relations.

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DECEMBER 2022 7

Thank you to the bankers who joined WBA in advocating for our industry!

This October, WBA staff and fellow bankers from Wisconsin and Illinois traveled to Wash ington, D.C. to advocate on regulatory issues impacting Midwestern banks. For the last 11 years, this trip has allowed Wisconsin bankers to meet with senior officials from several regulatory agencies as well as share their perspective on federal regulation. In the last two years, bankers from Illinois have also joined the As sociation on the two-day trek.

This year, eight Wisconsin bankers joined WBA’s President and CEO Rose Oswald Poels and Vice President – Legal Heather MacKinnon from October 20–21 in meetings with officials from the Federal Deposit Insurance Corporation (FDIC), Office of the Comp-

troller of the Currency (OCC), and Federal Housing Finance Agency (FHFA). Additionally, the group met with Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra

Thank you to the Wisconsin bankers who attended this year’s fall regulatory trip:

» Al Araque, Johnson Financial Group, Racine

» PJ Childers, Crossbridge Community Bank, Tomahawk

» Kristen Gagliano, North Shore Bank, Brookfield

» Corey Hoze, Associated Bank, Milwaukee

» Mark Oldenberg,

Security Financial Bank, Eau Claire

» Dan Peterson, The Stephenson National Bank & Trust, Marinette

» Terry Rosengarten, Unity Bank, Augusta

» Theresa Wiese, First Business Bank, Madison

An Economic Discussion with… JAMES BULLARD

President and CEO Federal Reserve Bank of St. Louis

James “Jim” Bullard is the president and CEO of the Federal Reserve Bank of St. Louis. In that role, he is a participant on the Federal Reserve’s Federal Open Market Committee (FOMC), which meets regularly to set the direction of U.S. monetary policy. He also oversees the Federal Reserve’s Eighth District, including activities at the St. Louis headquarters and its branches in Little Rock, Ark., Louisville, Ky., and Memphis, Tenn. Bullard is a noted economist and scholar, and his positions are founded on research-based thinking and an intellectual openness to new theories and explanations. He is often an early voice for change.

Register

10:30 a.m.–Noon CT | 11:30 a.m.–1 p.m. ET 9:30 a.m.–11 a.m. MT

An Economic Oulook with… AUGUSTINE FAUCHER, Ph.D. Chief Economist

THE PNC Financial Services Group

Questions: Contact wbaeducation@wisbank.com or 608-441-1252.

Faucher

Wisconsin, Illinois Bankers Visit D.C. For Fall Regulatory Trip

Who is the 2022 WBA Banker of the Year? You Tell Us!

Nominations are due Friday, December 9

WBA is now accepting nominations for the 2022 Banker of the Year Award! This award recognizes someone who has made an outstanding effort in service to their bank, to their community, and to the banking profession.

To qualify, nominees must be an employee of a

Wisconsin bank and a member of the WBA. In addition, the individual should be a bank president/CEO, or have held this role in the recent past. Nominations may be submitted by an individual who can describe the banker’s civic and professional accomplishments.

Steve Burgess, president and CEO of National Bank of Commerce in Superior,

was honored as the Wisconsin Bankers Association Banker of the Year for 2021, recognizing his innovation, service, and leadership. Burgess was recognized during the 2022 Bank Executives Conference by 2020 Banker of the Year, Jim Hegenbarth, president and CEO of Park Bank in Madison. This year’s award will be presented at the Bank Executives Conference,

February 8–10, 2023 in Wisconsin Dells. Download a nomination form at wisbank.com/banker nomination The form must be returned by December 9, 2022 Questions about the award or the nomination and selection process may be directed to WBA Executive Vice President Chief of Staff Daryll Lund at dlund@wisbank.com or 608-441-1203.

Honoring Wisconsin Bankers for a Lifetime of Service

Nominations are due Friday, December 9

Each year, WBA presents awards recognizing bankers for their long service to our industry and their community, and the tradition will continue this year.

The 50-Year and 60-Year Clubs recognize bankers who have served in the banking industry for 50 and 60 years, respectively. These awards will be presented at the WBA

Bank Executives Conference, February 8–10, 2023 in Wisconsin Dells.

If your bank has individuals who should be recognized, please nominate them by completing the form found at wisbank.com/ServiceAwards.

If the nominated individual is unable to attend the conference, WBA staff will work with you to plan an event at your bank in honor of the individual.

»Eligibility Rules for 50- and 60-Year

Club Memberships

Any Wisconsin banker who is an active or retired officer, director, or employee and has completed 50–59 or 60-plus years of service. (U.S. Military service counts in the 50-year or 60-year span if the proposed recipient was in banking both before and after time spent in the military.)

Bankers enrolled in past

WBA 50-Year Clubs are not eligible to be honored again in that specific award category but may make an application to be honored for 60 or 70 years of service to the financial services industry. Before nominating an individual, we strongly suggest checking with the person or your institution’s records to confirm dates of service as well as to determine whether they have received the honor in a past year.

Association Staff Works in Support of Local Community

A message from WBA President and CEO Rose Oswald Poels

As our member banks and Associate Members very well know — community involve ment is at the heart of the banking industry. Since its inception, the Wisconsin Bankers Association (WBA) has advocated on behalf of the wellbeing of all members in our communities and, as such, staff members are eager to get involved and support worthy causes in our area.

Each year, members of the WBA team can participate in three fundraisers and contribute directly to support social and societal issues. This October, WBA staff members showed their support of the United Way of Dane County.

Although participation isn’t mandatory and any amount is always welcome, I am continu ally amazed by the generosity

of our Association’s staff. This year, we once again surpassed our $6,500 goal to raise a total of over $7,300!

As we look ahead to the holiday season, the Association will once again sponsor a family through the Family Support and Resource Center (FSRC). For several years, the WBA team has worked together to support a local family and helped supply them with gifts off their wish list — we look forward to doing so again this year.

Thank you to the WBA staff members who have chosen to give back on behalf of our Association, and also to the WBA members who work each day in support of their communities.

Oswald Poels is WBA president and CEO.

One of several fundraising events was Halloween on October 31. Donations to the United Way were collected to vote for the best dressed staff member!

This year, over 140 bankers from across the state came together in Wisconsin Dells for the Building Our Leaders of Tomorrow (BOLT) Winter Leadership Summit. As the largest gathering of BOLT members that has occurred in recent years — attendees greatly benefited from the extensive networking opportunities WBA’s BOLT Section is known for.

The summit, held on November 9, featured peer group discussions, networking opportunities, and several keynote speakers — including Denise Thomas, The Effective Communication Coach, LLC; Karen Mitchell and Robert Zondag of Wipfli LLP; and Emily Smit, The Perk.

Attendees spent the day learning about techniques of effective leaders and expanding their knowledge on the banking landscape as uncertainty remains. As always, the event was high energy and bankers left feeling prepared to take the next step in their careers.

Beyond the biannual summits, BOLT Section members — representing over

135 banks — receive various opportunities to become more engaged in advocacy work, participate in community service, and nurture their professional support network via the LinkedIn group.

Banks interested in designating their next emerging leaders should visit wisbank. com/BOLT to learn more or contact Lori Kalscheuer, WBA’s director – education, at lkalscheuer@wisbank.com.

Top left: Networking and meeting other bankers is a large part of the BOLT Summits, including this group of bankers who connected during the Summit.

Above right: Speaker Denise Thomas kicked off the morning session with an energized and thought-provoking session about great communication.

Left: Attendees met and interacted during the WBA BOLT Winter Leadership Summit held in Wisconsin Dells. Visit wisbank.com/BOLT to learn more or contact WBA’s Lori Kalscheuer at lkalscheuer@wisbank.com

Controlling Your Bank’s Destiny

Owners of family-owned and closely held banks meet at annual strategic retreat

By Hannah Flanders

Across the Midwest, many banks held primarily by a single investor or family face unique challenges in their dayto-day operations and future planning. As competition rises, it is critical that there are resources and networks dedicated to closely held bank owners as they navigate internal and external pressures in an effort to determine their own fate.

“It is important that we treat these banks for what they are first — family businesses,” said Peter Wilder, attorney at Godfrey & Kahn, S.C.

“This program has been invaluable to the continued success of our bank.”

— Richard Katz, chairman Resource Bank DeKalb, Ill.

As such, closely held banks must not only consider regulatory, wealth, and succession pressures that all banks must balance, but interpersonal and family dynamics in addition. While challenges throughout the industry mount and opportunities for closely held banks to use their unique position to expand, resources and education pertaining specifically to family-owned or closely held banks remain marginal.

Banking on Family

It is no secret that operating a family business requires communication. While mutual respect between family members is vital, so too is having a knowledgeable peer network and counsel who are understanding of the unique benefits and challenges owners of closely held banks face.

The growth and success of a closely held organization is dependent on one’s ability

to navigate family dynamics, bank strategy, and the goals of all shareholders. In having the support of the family, educated advisors, and peers that can sympathize and share their perspective, bank owners will not only have the ability to avoid unnecessary difficulties, but gain valuable knowledge to facilitate the bank’s strategic next steps.

Family-owned banks must make special considerations when dealing with wealth and liquidity, succession, and estate planning. It could be, for example, that selling stock to outside investors to raise capital is not an option or that the next generation is not widely interested in running the family business.

While closely held banks face a variety of obstacles, opportunities for these banks are expansive. For one, family banks have the advantage of relating to their family business clients. Owners of familyrun banks may not only serve as trusted financial advisors to local family business, but also as a resource for navigating challenges related to such structural ownership. Additionally, the overlap between bank management and bank ownership allows closely

“It’s important that we treat these banks for what they are first — family businesses.”

— Paul Wilder, attorney Godfrey & Kahn, s.c.

“This specific retreat allows institutions to meet with legal and regulatory experts as well as network with peers facing similar challenges.”

— Paul Foy, president Cornerstone Community Bank, Grafton

offering the Family-owned and Closed Held Strategic Retreat in 2019.

“Issues often seen in family-owned banks are usually not covered in broader events or conferences,” stated Wisconsin’s Cornerstone Community Bank President Paul Foy. “This specific retreat allows institutions to meet with legal and regulatory experts as well as network with peers facing similar challenges.”

held bank owners to maximize efficiency and minimize conflict simply because there are likely fewer non-active owners to consult for every decision.

“It takes real commitment to plan for the future of a family-owned bank,” states Richard Katz, chairman of Resource Bank located in DeKalb, Illinois. “Familyowned banks are oftentimes the conjunction of a lifetime of personal effort, family legacy, and dedication to one’s community. With careful planning — aided by dedicated professionals — it is possible to envision a bright future for generations to come.”

Strategic Success

In order to assist bankers in navigating the unique challenges and possibilities available to closely held institutions, the Wisconsin Bankers Association (WBA), in partnership with the Illinois Bankers Association (IBA) and Godfrey & Kahn, S.C., began

“The Family-owned [and Closely Held Strategic] Retreat is specifically targeted at a group of bankers that do not often have access to similar resources,” highlighted Wilder.

“The retreat underscores what succession, tax, and wealth planning may look like for each generation and how this planning gives ownership groups more control over their bank’s destiny.”

This year, bankers in attendance at the Family-owned and Closely Held Strategic Retreat had the opportunity to hear from several panelists ranging from the everimportant topic of wealth to planning for the future.

The event opened on Thursday, October 13 with a peer panel featuring Foy, Katz, and Chad Kane of WoodTrust Bank in Wausau. Attendees enjoyed gaining perspective from the banker panelists on why and how their families dealt with wealth transfers and

Pictured (left to right) are: Peter Wilder, Godfrey & Kahn, S.C., Milwaukee; Richard Katz, Resource Bank, DeKalb, Ill.; Paul Foy, Cornerstone Community Bank, Grafton; and Chad Kane, WoodTrust Bank, Wausau.

Bankers Share Experience, Advice with UW Students

WBA

hosts Careers in Banking

This fall, the Wisconsin Bankers Association (WBA) provided students at three UW schools the opportunity to explore a career in banking. Bankers from across the state served as panelists at UWMadison, UW-Platteville, and UW-Whitewater to offer students more information the industry and careers available to them.

With a goal to close the gap between students and banking professionals, the events encouraged attendees to network with bankers and ask questions.

Thank you to the following bankers for volunteering their time to connect with students:

» Ryan Boebel, Community First Bank, Reedsburg

FOCH Strategic Retreat

(continued from p. 10)

the succession of the bank as it transfers to a new generation or new owners entirely.

Panelists emphasized that the intimate nature of such retreat has allowed attendees to gain a detailed understanding of how their closely held peers tackle the unique benefits and issues brought forth by closely held ownership.

The following day, Godfrey & Kahn S.C. colleagues Wilder and Jeff Billings presented on estate planning and the corresponding regulatory issues that closely held bank owners need to consider as they look ahead and transition bank ownership into new hands.

Eide Bailly’s Michael Holdren followed with an indepth discussion on valuations specifically highlighting why closely held banks may consider a valuation; what the typical valuation process looks like; and how inflation, potential recession, reliance on net interest income, and

events in Madison, Platteville, and Whitewater

» Ty Kartman, Royal Bank, Cassville

» Phil Lorenz, CIBC

» Loni Meiborg, Fortifi Bank, Berlin

» Becky McClelland, Community State Bank, Union Grove

» Nate Parrish, First Citizens State Bank, Whitewater

» Jeffery Ticknor, BMO Harris Bank N.A.

» Melissa Torres, Oak Bank, Fitchburg

» Jeff Vohs, SENB Bank, Beloit

» Emily Bradley, First Business Bank, Madison

» Kayla Conklin, The Park Bank, Madison

» John Digman, Mound City Bank, Platteville

» Nicholas Felder, MidWestOne Bank, Lancaster

» David Wilbik, Johnson Financial Group

RETREAT

regulatory oversight may impact the future of valuations.

The retreat concluded with an advisor panel featuring David Fritz and Patrick Marget of Executive Benefits Network (EBN); Brendan Freeman, First Business Bank; and Andrew Spillane, Godfrey & Kahn, S.C. The panel covered the role of life insurance, tax planning, and private fund investments to arm families with several resources to consider when wealth planning.

In addition to the thorough discussions and panels held at the retreat, many bankers state that the extensive networking opportunities remain the main attraction in returning each year.

“Not only are the various speakers geared specifically

at closely held banks, but the intimate discussions I find myself having each year have been increasingly valuable in recognizing our goals as a family and as an institution,” said Foy.

“This event is not simply networking as you may perceive it from other events,” agreed Katz. “It’s partnership, friendship, deep connections, and the ability to share knowledge.”

Overall, the end goal of the Family-owned and Closely Held Retreat is to ensure shareholder value. From preparing the next generation for new responsibilities to understanding what options there are for those no longer keeping the business, the

» Thank you to our retreat sponsors.

retreat presents bankers with an intimate setting to connect with their banking peers and other advisors who understand the intricacies of closely held banks.

“This program has been invaluable to the continued success of our bank,” stated Katz. “Its niche target has opened my eyes not only to the strategic opportunities that will benefit both the personal and professional aspects of the bank, but to the experts that are able to help us in implementing the change we wish to see.”

Flanders is WBA writer/editor.

Eide Bailly LLP, Executive Benefits Network (EBN), and Godfrey & Kahn, S.C. are WBA Bronze Associate Members.

Students at UW-Madison, UW-Platteville, and UW-Whitewater gained insight into banking career opportunities during the Careers in Banking panel presentations hosted by WBA by this fall. The UW-Platteville event is pictured.

Presented by: Retreat Sponsors:

Family-Owned AND Closely Held STRATEGIC

FedNow Instant Payments (cont.

from p. 1)

“All of the market players going back a decade recognized it wasn’t if but when instant payments would come domestically into the market and ecosystem,” said Nick Denning, senior vice president

“Wisconsin banks have been very innovative over the years, and this is another innovation that’s coming that Wisconsin banks should be looking at and should be adopting when they are ready.”

— Todd Koehn vice president for faster payment solutions Bankers’ Bank

–payments industry relations, for ICBA Bancard. “I think at that time the Fed was trying to determine what role they would play, if any, in instant payments, and ICBA, community banks, and other groups definitely advocated for the Fed to play that operator role to bring more network capabilities to the market.”

Now that the Fed’s faster payment network is getting ready to launch — and will be seeking early adopters — banks that want to participate should be gearing up for it, experts said. To do that, banks should make sure they have an overall payments plan, and begin meeting with their core processor or fintechs that in most cases will be the channel connecting the bank and the new behind-the-scenes FedNow payments “rail.”

“Community banks should be talking to their key technology partners,” said Koehn. “What are their timeframes to get on the rail? How long will it take once they’re on the rail for my bank to join the rail?”

Earlier this year, the Fed disclosed fees for FedNow. But that doesn’t include the cost of the infrastructure needed by a bank to use the network. The overall cost to implement a connection to FedNow is one reason many banks are expected to go through their core processor or a fintech instead of directly to the Fed.

“It’s cheaper to go direct to the Fed, but you’d have to build your own infrastructure and maintain it. And that’s expensive,” Koehn said. “Most community banks will connect through a processor, whether it’s an online banking processor or a core processor.”

According to the Fed, FedNow’s anticipated fees include:

» A $25 monthly FedNow Service participation fee for each routing transit number (RTN) that enrolls in the service to receive credit transfers.

» 4.5 cents per credit transfer to be paid by its sender, including returns.

» A fee of 1 cent for a request for payment (RFP) message to be paid by the requester, including both requests for a new payment or funds to be returned. A participating financial institution can send an RFP through the FedNow Service to another participating financial institution to request payment of a bill, invoice, or other amount owed by the receiving financial institution’s customer.

The planned FedNow Service’s credit transfer transaction limit will be $500,000.

Brad Northcraft, senior vice president for deposit operations at IncredibleBank,

“All of the market players going back a decade recognized it wasn’t if but when instant payments would come into the market and ecosystem.”

— Nick Denning, senior vice president – payments industry relations

ICBA Bancard

said his bank plans to access FedNow through a payments provider that is part of the financial institution’s core processor.

Northcraft said he thinks a key catalyst for FedNow was for the U.S. to have a system that would bring payments into parity with other countries.

“I think they generally recognized that the payments industry, the velocity of payments, continues to accelerate. I think that was their impetus to really launch FedNow,” he said.

He noted that the introduction of Real Time Payment (RTP) by The Clearing House about five years ago also was a motivation for the Fed to establish its own fasterpayments network.

While money moves electronically through ACH, wires and RTP, Koehn said FedNow is meant to augment existing systems, not replace them.

Denning, too, said FedNow will enhance overall payment capabilities.

“To a certain degree, FedNow and RTP network will compete for volume and so forth, but also to a certain degree, complement each other in terms of the robustness of the nation’s payment systems from a resiliency and scope and breadth perspective,” Denning said.

The Fed says surveys show consumers and businesses want faster payments, and that

Loan Compliance School March 13–17

A weeklong, fundamental overview of the various lending regulations affecting an institution, updates in current trends in compliance, and the guidelines to use in interpreting federal and Wisconsin state laws, regulations, and official commentary.

Visit wisbank.com/education for more information about these schools or to register online. See p.16 in this issue for more Education events.

FedNow Instant Payments

(cont. from p. 12)

instant payments can help banks better retain their customers.

“Because (with FedNow) I can make a payment on Sunday at 2 a.m. and you’re going to have your payment at 2:01 a.m. — or quicker than that — on Sunday morning, I think it is going to be partially driven by the end user,” Northcraft said.

Koehn said he thinks FedNow is “going to revolutionize community banking because banking has been 5 to 5½ days a week, and FedNow will bring

24-by-7-by-365.”

“And that’s a good thing for community banks when customers are depositing money, and the community bank knows there’s no fraud associated with it,” he said.

Koehn said there are many scenarios in which

It’s Back-to-School Time Once Again!

Upcoming education opportunities for Wisconsin bankers

WBA schools have a strong reputation for focusing on a particular area of banking, allowing for a deep dive into that focused area over the course of two to five days. There are six upcoming schools this spring featuring varying topics for compliance personnel, lending, and management. Each school will be held at the WBA office in Madison in our Engagement Center.

Real Estate Compliance School March 15–17

This three-day school is available as a portion of the weeklong Loan Compliance School, providing attendees with a strong foundation on federal and state real estate lending laws and regulations.

Introduction to Commercial Lending School March 20–22

This three-day school is designed to provide bankers with a basic understanding of the principles and concepts of commercial lending.

Residential Mortgage Lending School | April 11–14

This four-day school will provide bankers the knowledge and tools needed to be successful in the complex and highly competitive field of mortgage lending through case studies and collaborative assignments with seasoned professionals and their peers.

Compliance Management School | April 18–20 Providing bankers with the necessary tools to develop, implement, and manage a compliance program, this

three-day school is geared toward bankers who are looking to expand their role in compliance management and enhance the bank’s compliance program.

School of Bank Management May 8–12

Designed for emerging leaders or those pursing a career in bank management, this weeklong school focuses on enhancing one’s understanding of banking as a business, rounding out one’s skills in critical bank functions, and increasing analytical skills and management techniques.

around-the-clock payments capability could help banks and consumers.

For example, he said, a small manufacturing company might be having trouble attracting and retaining employees because the workers, as is increasingly the case, want to be paid on the same day they do their work, not on traditional paydays every week or two. FedNow could be used to accommodate same-day payroll for the manufacturer.

Or, perhaps, a plumber who made an emergency repair could send an invoice securely over the network, and be paid instantly by the homeowner or business, avoiding the problems of checks that need to be cashed or could bounce.

Banks that don’t have a serious payments strategy need to get going and figure out how FedNow can best help them,

those familiar with FedNow say.

“I’ve been in banking for almost four decades. Started in the payments space back in 2011. The mantra back then was whoever controls the payments controls the balances,” Northcraft said.

Denning said banks should be talking to their current thirdparty providers, whether it’s their core provider or other providers that they leverage for payments or other capabilities, as well as customers.

As part of that process, it’s important to analyze what customers need, Denning said.

“What pain points and challenges do they encounter on a daily basis that I can help solve with some of what we’re doing in payments?” Denning said. “We can offer instant payments, but where the rubber really hits the road is how can we make a difference in

“I think a key catalyst for FedNow was for the U.S. to have a system that would bring payments into parity with other countries.”

— Brad Northcraft senior vice president for deposit operations

IncredibleBank, Wausau

people’s lives, how can we help our customers.”

He added: “Connecting those dots on what the providers can do and then what pain points, challenges, opportunities exist within our customer base, that’s where the magic will really happen.”

Gores is a journalist who covered business news for the Milwaukee Journal Sentinel for 20 years.

ICBA Services Network is a WBA Gold Associate Member.

Bulletin Board

News about people working in Wisconsin’s financial institutions

Promotions and New Hires

Eau Claire

Security Financial Bank (SFB) is pleased to announce that Jacob Bauer (pictured) has been promoted to relationship manager. Additionally, Patty Chambers (pictured) has joined SFB as director of human resources.

Fitchburg

Tricia Sutcliffe (pictured) has joined Oak Bank as commercial loan assistant.

Fond du Lac

Sarah Aellig (pictured) has been promoted to loan documentation review supervisor for National Exchange Bank & Trust.

Madison

First Business Bank is pleased to announce the promotion of

Chase Kostichka (pictured) to senior vice president –commercial real estate banking at the Brookfield location.

Manitowoc Bank First has announced the promotions of Sharol Schroeder (pictured) to senior vice president – human resources and Brad Lighthall (pictured) to retail banking officer.

Marshfield

Larry Snedden (pictured) has joined Forward Bank as a vice president – senior commercial loan officer.

Medford Prevail Bank is pleased to announce that Brenda Trump (pictured) has joined the Eau Claire team as branch manager and Scott Rannila (pictured) has joined the Eau Claire

team as a vice president & commercial banking officer.

Middleton

Starion Bank has hired Jon Konarske (pictured) as a business development officer.

Platteville

Mound City Bank in Platteville is excited to announce the promotion of Lori Tydrich (pictured) to internal auditor.

Waukesha

Waukesha State Bank is pleased to announce the promotions of Matt Fischer (pictured) and Tracy Moehle (pictured) to bank managers.

Wausau

Tim Dively (pictured) has been promoted to senior vice president, chief technology and operating officer at Peoples State Bank.

ABank NNIVERSARIES

WBA-member banks celebrate milestone anniversaries

The banking industry has a long and storied history in Wisconsin. From being an outlawed practice in the 1840s to today’s diverse industry, banks have always helped Wisconsin consumers buy their first homes, finance their vehi cles, and achieve their business

dreams. Remarkably, nearly half of Wisconsin’s banks have been serving their communities for over a century!

2022 Anniversaries

Congratulations to the following five Wisconsin banks, which celebrated milestone anniversaries in 2022:

100-Year Anniversaries:

» DMB Community Bank, DeForest

» First Federal Bank of Wisconsin, Waukesha

» Mayville Savings Bank

125-Year Anniversaries:

» Farmers & Merchants State Bank, Waterloo

» Independence State Bank

Congratulations to all!

2023 Anniversary

Congratulations to the following Wisconsin bank, which

will celebrate a milestone anniversary in 2023:

100-Year Anniversary:

» North Shore Bank, Brookfield

Let WBA know how you plan to commemorate your bank’s success! Email photos and press releases of your institution’s events to bulletinboard@wisbank.com and let the industry join in the celebration!

Have good news?

To submit a notice, please email bulletinboard@wisbank.com or mail entries to WBA Bulletin Board, 4721 South Biltmore Lane, Madison, WI 53718. Send photos as JPEG files. Questions? Contact WBA’s Hannah Flanders at 608-441-1237 or hflanders@wisbank.com

Chambers

Snedden

Aellig Rannila

Bauer Lighthall Schroeder

Sutcliffe Trump

Kostichka

Bulletin Board

News about people working in Wisconsin’s financial institutions

Promotions and New Hires

(continued from p. 14)

Additionally, Brandon Karaba (pictured) has been promoted to vice president –regional market sales lead and Heather Martell (pictured) has been named the branch manager of the bank’s Weston location.

Wauwatosa

WaterStone Bank has announced Scott DeJong (pictured) as the new vice president of commercial real estate.

Anniversaries

Fond du Lac National Exchange Bank & Trust congratulates Lori Ruch (pictured), vice president of compliance, for 35 years and Trish Marks (pictured), loan insurance representative, for 25 years of service to the bank.

Wisconsin Dells

Community Bank of Portage, a branch of Bank of Wisconsin Dells, congratulates Assistant Vice President and Personal

Banker Theresa Hoppmann (pictured) on 25 years with the bank.

Retirements

Waterloo Farmers & Merchants State Bank congratulates Laurie Frey (pictured), vice president – operations, and Bill Hogan (pictured), chief financial officer, on their upcoming retirements. The two have spent 46 and 18 years, respectively, with the bank.

To celebrate the twoyear anniversary of One Community Bank, Oregon, bank colleagues selected the non-profit Wisconsin Academy for Graduate Service Dogs (WAGS) for a $1,000 donation.

Pictured (left to right) are: Heather Tyler, vice president – marketing, One Community Bank; Carrie Schraeder, vice president retail banking manager, One Community Bank; Aaron Backer, executive director, WAGS; and Breeze (front, seated).

Announcement

Associated Bank has provided a $250K grant to Green Bay’s Golden House, a domestic violence program serving victims in Brown County for it’s On the Rise capital campaign.

Associate Member News

Madison

Sarah Greenberg (pictured) has been appointed president, lending at Cinnaire. Cinnaire is a WBA Gold Associate Member.

Poeppel Honored with WBA Lifetime

Service Award

On October 4, WBA’s Daryll Lund honored Badger Bank, Fort Atkinson’s Debbie Poeppel with a WBA Lifetime Service Award in recognition of her 25 years of service to the banking industry and on her retirement.

As part of its Charitable Contributions program, Medford-based Prevail Bank makes donations to local nonprofit organizations to assist in their efforts to provide the environment and tools

for members of the community. This fall, 18 central Wisconsin organizations received a contribution.

Pictured (left to right) are: Tony Morgan, Prevail Bank mortgage loan originator; Cherie Lenz, Prevail Bank branch manager; and Debra Alexandra, Santa’s Elves Foundation executive director.

Ruch

Greenberg

Frey

Marks

Karaba Martell

Hoppmann

DeJong

Hogan

Moehle

Fischer

Dively

Tydrich

Konarske

EDUCATION Calendar

JANUARY 2023

•Midwest Economic Forecast Forum 12 Virtual

•Community Bankers for Compliance (CBC) — Session I 24–25 Virtual half-days; membership (pricing options vary)

FEBRUARY 2023

•Bank Executives Conference 8–10 Wisconsin Dells

•Compliance Forum: Session 3 14 Wisconsin Dells; annual membership (pricing varies)

MARCH 2023

•Advanced IRA Workshops 7 Madison or virtual; $245/attendee

•Loan Compliance School 13–17 Madison or virtual; $1,295/attendee

• Real Estate Compliance School 15–17 Madison or virtual; $795/attendee

•Introduction to Commercial Lending School 20–22 Madison; $895/attendee

•Security Officer Workshops 22 Wisconsin Dells or virtual; $245/attendee

•Call Report Review & Update Workshop TBD Virtual half-days; $245/attendee

APRIL 2023

•Residential Mortgage Lending School 11–14 Madison; $1,045/attendee

•Agricultural Bankers Conference 13–14 Wisconsin Dells; $300/ag section member or $350/non-section member attendee

•Power of Community Week 17–22 wisbank.com/BanksPowerWI

•Compliance Management School 18–20 Madison; $795/attendee

•Women in Banking Conference 25 Wisconsin Dells or virtual; team pricing available

•Community Bankers for Compliance (CBC) — Session II 26 Wisconsin Dells or virtual; membership (pricing options vary)

APRIL 2023 (continued)

•Principles of Banking Course TBD Locations TBD; $550/attendee

• HR Conference TBD Location TBD; $245/attendee

MAY 2023

•American Mortgage Conference 1–3 South Carolina

•School of Bank Management 8–12 Madison; $1,395/attendee

• BSA/AML Conference 10–11 Location TBD; $450/attendee

• CFO Conference 17 Madison; $245/attendee

• Directors Summit 18 Madison; $225/attendee

•Trust Conference 25 Madison; $245/attendee

•Capitol Day TBD Madison

•Personal Banker School TBD Wausau area; $535/attendee

JUNE 2023

•BOLT Summer Leadership Summit 15–16 Wisconsin Dells; $250/attendee

• Compliance Forum: Session 1 TBD Wisconsin Dells; annual membership (pricing varies)

JULY 2023

•Community Bankers for Compliance (CBC) — Session III 25–26 Virtual half-days; membership (pricing options vary)

» Visit www.wisbank.com/education for more information and online registration.

» Or email WBA Education at wbaeducation@ wisbank.com or call 608-441-1252.

Delivering a Better Customer Experience Considerations when developing your customer experience strategy

By Heather Calnin

To say the least, the last couple of years were out of the norm for the banking industry. For some, what may feel like ‘returning to normal,’ has others concerned for the future. Customers are no longer only coming to us for their financial needs, so bankers are returning to a proactive approach to acquire new business. The struggle now will not only be adding new customer accounts, but retaining the ones we already have.

What is Customer Experience Strategy?

A customer experience (CX)strategy is your company’s approach to creating the best possible customer experience in your unique case. Customer experience is the sum total of a customer’s perception of your business. While customer experience will differ from customer to customer, there’s a lot you can do to make it consistently high in quality.

It is important to keep in mind that customer service and customer experience are not the same thing. While both revolve around how you interact with customers, customer service is just one

Strategic Connections

WBA Associate Member Program

part of the entire customer journey. Customer experience, on the other hand, encompasses all the interactions between your brand and a customer.

Why is Customer Experience So Important?

Customer experience is an increasingly powerful means of differentiating your business from its competitors. Unlike variables such as price or product — which win your customers so long as you can keep ahead of your competition — customer experience creates strong, resilient relationships that stand the test of time.

What to Consider When Developing Your CX Strategy

The first step in developing a CX strategy is understanding who your customers are — what are their needs, wants, and motivations? This information is useful in developing marketing campaigns and follow ups.

Next, review your business objectives, long-term goals, and current customer experiences with your team. What changes are you expecting in the coming years? Will there be new products, services, or entrance into new markets? What happens when your customer visits your branch? Are they greeted in the lobby, offered a beverage while they wait, or sent a ‘thank you’ card after opening an account or celebrating their first year in their new home? Discover where the gaps exist and take advantage of the opportunity.

During this time, banks should also consider their competition — what are they doing? Look both inside and outside your industry for examples of positive and negative experiences. Think about the process you go through when you make purchases. What stands out to you that you could add to your CX?

Map the journey. Start putting the steps, touchpoints, and potential issues on a whiteboard. I also like to use Post-it® notes to easily move things around during discussion. Once the map is created, it is critical to communicate these expectations with the team. This detail will make sure your team remains invested in the experience.

Finally, build systems with Customer Relationship Management (CRM) to help streamline touchpoints and create consistency for your customers.

How deep you take the development of your CX journey is up to you, but the bottom line is to not put it off. Start small, continue to tweak and improve the journey because no journey will ever be perfect in an ever-changing market. Continue to keep your customer’s satisfaction at the forefront and fine-tune your bank’s journey to maximize a loyal client.

Calnin is director of marketing and business development at BLC Community Bank, Little Chute, and member of the 2022–2023 WBA Marketing Committee.

Visit wisbank.com/community/getinvolved to learn more about WBA Committees.

The WBA Associate Membership program offers three membership package levels (Gold, Silver, and Bronze) in addition to the standard Associate Membership. Through their investment in a package-level membership, these WBA Associate Members not only streamline their involvement with the association through advertising, sponsorships, and exhibiting opportunities, they further demonstrate their commitment to supporting Wisconsin’s banking industry.

See p.24 in this newsletter, visit wisbank.com/associates, or contact WBA‘s Nick Loppnow at nloppnow@wisbank.com or 608-441-1259 to learn more about the WBA Associate Member Packages.

Heather Calnin

» Customer experience (CX) is an increasingly powerful means of differentiating your business from its competitors.

Identifying and Averting “Festive Fraud” Bankers emphasize security measures this holiday season

By Rob Foxx, CCBTO

What should be a time of joy and celebration for all can quickly turn into a time of stress and panic. Scams come in many forms — from seemingly innocent to incredibly sophisticated. Knowing these scams and how they work will not only help you defend yourself and your loved ones but assist you in identifying threats to your customers this holiday season.

Fraudsters not only take advantage of the generosity of the season, but target businesses and offices that may be understaffed. It is critical that individuals remain attentive and leery of unexpected solicitations.

FIPCO IT & Audit Services

Rob Foxx » fipco.com

As technology continues to advance, so too do the number and intricacy of scams we encounter. During the holiday season, consumers are more likely to see a rise in “festive fraud” — or a spike in fraudulent activity associated with holiday shopping.

While porch pirating schemes and fake gift card offers rise during this time of year, bankers should be aware of bad actors attempting to put individuals, businesses, and financial institutions at risk.

Fraudulent scams should be reported to local law enforcement, the Federal Bureau of Investigation (FBI), and the Federal Trade Commission (FTC).

Keeping Your Bank Secure

Cybercrime continues to be one of the greatest threats and most expensive forms of fraud to banks across the country. Unfortunately, common schemes can range from phishing or ransomware attacks to identity theft. Schemes which are often disguised as seemingly innocent links or exciting holiday discounts.

Consumers and bankers alike should never give out personal information without verifying the legitimacy of the website or person requesting said details.

Skepticism is often the first line of defense against bad actors and now’s a great time to ensure every member of your team is prepared for potential threats and that they know how to mitigate the risk. IT professionals and bank leaders should assist all staff members in understanding the various cybercrimes, what they may look like, and how they can impact the bank and its customers.

It shows not only through words but actions.

Like consumers, banks too face a heightened risk for fraudulent activity at the end of each year. As the holidays quickly approach, bankers should beware that fraudsters not only take advantage of the generosity of the season, but target businesses and offices that may be understaffed. It is critical that individuals remain attentive and leery of unexpected solicitations.

Sometimes it takes a team to compete successfully as a community bank, and sometimes it takes more.

We’re more than a team at FIPCO – we have everything you need to comply and compete successfully and confidently as a community bank in a changing world. Which is why FIPCO’s team approach goes above and beyond what’s expected.

Compliance Concierge™ intuitively guides you through each step of deposit account opening and the loan process.

fipcosales@fipco.com

Make certain that your staff has secure passwords, is using multifactor authentication (MFA), is leery of unknown websites or email addresses, and knows how to report an incident.

In addition, banks should take a moment this holiday season to verify that the organization’s detection methods are properly operating and, in the event of a cyberattack, have a clear response plan. Cyberattacks are most often the result of technological vulnerabilities and human error — make

About FIPCO… Founded in 1987, FIPCO (a WBA subsidiary) helps financial institutions stay compliant in a fast-changing regulatory environment. Our form sets are regarded as the industry standard. Our Compliance Concierge™ loan, mortgage, and deposit software solutions are developed and supported with a meticulous approach to compliance. Our software solutions expand to include ConnectFI cloud-based online lending software, cybersecurity solutions, and more! FIPCO also offers valuable consulting services, including risk management, IT auditing, and ShareFI compliance and management services. Learn more at fipco.com

WBA is Accepting Nominations for the Wall of Excellence

With the Wall of Excellence officially installed in the Engagement Center at the Wisconsin Bankers Association’s (WBA) headquarters building, WBA has proudly honored three classes of Leaders in Banking Excellence at celebrations held in 2021 and 2022.

The WBA Leaders in Banking Excellence celebrates exceptional bankers from throughout Wisconsin’s history. Through this program, current and former banking leaders who have helped shape our state’s banking industry are honored with recognition

as a fixture on the Wall of Excellence. Your honoree’s plaque will give today’s bankers a glimpse of those who

have made our industry what it is today.

The WBA is accepting nominations from now through May 12, 2023 for the fourth-

To nominate a banker as a Leader in Banking Excellence

please visit wisbankcom/ excellence and complete the nomination form by May 12, 2023.

year class of the WBA Leaders in Banking Excellence.

To nominate a banker for this honor, please visit wisbank.com/excellence and complete the application form, or contact WBA’s Rose Oswald Poels at 608-441-1205 or ropoels@wisbank.com for more information.

FIPCO: “Festive Fraud” (continued from p. 18) sure your bank is prepared to mitigate this potential risk.

Identifying Consumer Fraud

As fraudulent activity becomes increasingly more difficult to identify, bankers have taken on an important role in educating their customers of, and protecting them from, various schemes.

This holiday season, bankers should advise their customers to be leery of “too good to be true” deals, gift cards from unreputable sellers, urgent or unexpected requests, and fake charities. Consumers and bankers alike should never give out personal information without verifying the legitimacy of the website or person requesting said details.

If a customer reports a fraudulent scam, bankers should not only ensure the individual impacted reports

Make certain that your staff has secure passwords, is using multifactor authentication (MFA), is leery of unknown websites or email addresses, and knows how to report an incident.

the incident to the local law enforcement, Federal Bureau of Investigation (FBI), and Federal Trade Commission (FTC), but remind them that falling victim to the increasing number of sophisticated fraudsters consumers encounter each day is nothing to be ashamed about.

Foxx is director – infosec and IT audit services for FIPCO. He can be reached at rfoxx@fipco.com or 608-441-1249.

For more information about FIPCO forms, software, or other products, visit fipco.com, call 800-722-3498, or email fipcosales@fipco.com.

FIPCO is a WBA Gold Associate Member.

Happy Holidays Happy Holidays

From Pam and the entire FIPCO Team

Wishing you and your family a joyous holiday season! Thank you for your partnership.

An opportunity to honor Wisconsin’s excellent bankers

The WBA Engagement Center displays the Leaders in Banking Excellence plaques honoring exceptional bankers throughout Wisconsin’s history.

Bank On

(continued from p. 1)

builds confidence and trust — an important aspect of maintaining loyalty well into the future.”

In partnering with Bank On, banks have the opportunity to be advocates for underserved groups and the ability to connect them with the appropriate services and products for their unique situations.

Bank On’s Impact in Wisconsin

In October, the Federal Deposit Insurance Corporation (FDIC) released its biennial National Survey of Unbanked and Underbanked Households The 2021 survey demonstrated a decrease throughout the country in unbanked

»

Financial Institutions in Wisconsin with Certified Bank On Accounts

» BMO Harris: Smart Money

» Bank Five Nine: Achieve Checking

» CIBC: Easy Path Access

» Chase Bank: Secure Banking

» The Equitable Bank: EZ Checking

» First Federal of Wisconsin: Fresh Start Checking

» Old National Bank: EZ Access Checking

» PNC Bank: Foundational Checking, Smart Access Prepaid VISA Card

» Summit Credit Union: Balance Account

» U.S. Bank: Safe Debit

» UW Credit Union: Clear Checking Account

» WaterStone Bank: Stepping Stone

» Wells Fargo: Clear Access Banking

Core Standards of a Certified Bank On Account:

»Checking or prepaid accounts offered directly by the financial institution

»Debit card/pre-paid card for point-of-sale capability

»Minimum deposit of $25 to open an account

» Monthly maintenance fees that are waivable or less than $5

»No non-sufficient fund or inactive account fees

» bankonmiilwaukee.org

individuals. In Wisconsin, the unbanked population represented only 2% of the over 5.8 million residents in the state.

This encouraging total is further underscored by the 4% decrease in unbanked individuals throughout the greater Milwaukee area since the previous survey in 2019.

As Bank On expands into the greater Milwaukee community — with numerous institutions offering products and accounts and even more institutions seeking certification — Cheryll OlsonCollins, secretary-designee of the Wisconsin Department of Financial Institutions (DFI), emphasizes the importance of financial soundness in Wisconsin’s communities.

“Being ‘banked’ isn’t just an adjective; it is, in fact, a critical component of financial stability. Having and using a basic checking account both facilitates critical everyday transactions, and at the same time provides a core foundation for other financial successes.”

Why Bank On?

With a mission to connect consumers to safe, affordable bank accounts, Bank On provides a unique opportunity for banks looking to support members of their communities.

“By joining the growing number of Bank On Greater Milwaukee partners, banks will

It is critical that financial institutions throughout the state acknowledge where there is a need for safe, affordable banking and promote what is good in their communities.

— Constance Alberts program director Bank On Greater Milwaukee

engage with the community in new ways, reach new unbanked or underbanked customers and bring them into the financial mainstream while supporting Community Reinvestment Act (CRA) efforts,” highlights OlsonCollins. “Bank On partners play a critical role in making it possible for people to access the financial mainstream and spearheading a more inclusive financial system.”

Currently, Bank On Greater Milwaukee has 52 members, which include various community-based organizations, financial institutions, government partners, and network partners. Additionally, over 165 individuals are part of the coalition’s network.

Heather MacKinnon, WBA vice president – legal and member of the Bank On Greater Milwaukee leadership team, states that the connections made available through the coalition are one of the greatest resources available for bankers seeking

Bank On partners play a critical role in making it possible for people to access the financial mainstream and spearheading a more inclusive financial system.

— Cheryll Olson-Collins secretary-designee Wisconsin Department of Financial Institutions Madison

to support their community — even if they are outside of Milwaukee County.

“It is impressive how the community participants and financial institutions involved with Bank On Greater Milwaukee work to connect persons with a need for safe, low-cost banking products with banks that offer a certified Bank On account,” she says. “It is a helpful tool for banks working on their diversity, equity, and inclusion (DEI) initiatives to partner with their local community groups working on similar missions of financial empowerment.”

How to Get Involved

While Wisconsin’s sole Bank On coalition is currently based in and only serves residents of Milwaukee County, banks throughout Wisconsin have the ability to get involved.

“With so much work to be done in granting unbanked individuals access [to safe financial services,] it is impossible to tackle alone,” said Alberts. “It is critical that financial institutions throughout the state acknowledge where there is a need for safe, affordable banking and promote what is good in their communities.”

In addition to connecting Milwaukee-area residents to

Learn more about Bank On Greater Milwaukee and join the coalition at bankon milwaukee.org

LEAD360 Conference Retail, Marketing, Financial Literacy Professionals Meet

This year’s annual WBA LEAD360 Conference yet again brought together retail bankers, marketers, and financial literacy professionals from around the state on November 16–17 in Wisconsin Dells. Speakers included Richie Burke, GGMM; Dave DeFazio, StrategyCorps; Jeff McCarthy, Bank Five Nine;

Robb Rempel, Haberfeld; Tim Roberts, Trustpointe, Inc.; and Christine Specht, Cousins Subs.

Year after year, not only do bankers attend this popular event for the practical knowledge they can bring back to their banks, but for the connections they build with their peers from around the state.

Like many other WBA events, LEAD360 offers bankers numerous opportunities to network among their peers and gain insights into new marketing, retail, and financial education possibilities.

As the banking industry continues to evolve, WBA aims to support all members of the bank by providing relevant

and high-quality resources and education programs. As such, attendees at this year’s LEAD360 Conference were the first to hear of the event’s upcoming rebrand. Beginning in 2023, retail, marketing, and financial literacy bankers are encouraged to join us at WBA FLEX: Retail and Marketing Summit!

Above,

Above,

Bank On

(continued from p. 20)

certified, safe, and low-cost products, the Bank On Greater Milwaukee initiative aims to support consumer financial education throughout the state and assist financial institutions in recognizing the need in their communities.

Community involvement, according to Alberts, is a significant way that banks can begin serving the low- to

This year, WBA announced that beginning in 2023, the LEAD360 Conference will be known as WBA FLEX: Retail and Marketing Summit! Bankers should mark their calendars to join us on November 15–16, 2023 in Wisconsin Dells.

Bank On Award

In September, the Wisconsin Bankers Association was honored as the Bank On Greater Milwaukee Community Partner Champion for its efforts in increasing awareness of Bank On accounts among banks throughout the state.

moderate income members of their communities and is a pipeline for additional benefits for both the consumer and the financial institution.

Bankers looking to get involved with Bank On Greater Milwaukee, learn more about the coalition, or certify an account with the CFE Fund should visit bankonmilwaukee.org

Flanders is WBA writer/editor.

left: Attendees heard from a variety of speakers and panelist on subjects related to talent retention and recruitment, FinTech, rebranding, and storytelling. Pictured (left to right) are: Erick Gorecki, BS Recruiters, Hartland; and Stella Terry and Heather Mader of Port Washington State Bank.

right: The conference provided ample networking time with fellow attendees and exhibitors. See p. 22 for photos and a list of the Wisconsin Bankers Foundation Financial Literacy Award Winners.

Thank You to Our LEAD360 Sponsors » Bankers’ Bank » Haberfeld » Steffes

Recognizing Bankers for Dedication to Financial Education

Every year, WBA’s Wisconsin Bankers Foundation (WBF) is pleased to recognize banks and individuals who go above and beyond when promoting financial literacy in their communities. We continually are amazed by the dedication bankers have to empowering the public by improving financial capability and raising awareness of personal finance and literacy — even from a young age. These values lie deep in WBF’s goals to provide WBA members with support for the financial education they provide throughout their communities. Congratulations to all the 2021–2022 award winners for continuing to pave the way to more financially aware communities in Wisconsin!

» wisbankfoundation.org/ awardrecipients

» Financial Literacy Banker of the Year Award Winner

This award is presented to the individual banker who reported giving the highest number of financial education presentations. For the second year in a row, Sue Krause of Fox Valley Savings Bank, Fond du Lac is the award recipient.

» Financial Literacy Banker Award Winner

This award is presented to the individual banker who reported giving the secondhighest number of financial

education presentations. This year’s award is presented to Joshua Pauling, Farmers State Bank of Waupaca.

» Certificates of Excellence Award Winners

This certificate is presented to individual bankers who reported giving 20 or more presentations. In addition to Sue Krause and Joshua Pauling, this year’s winners are Pam Blattner, Bank of Sun Prairie; and Jenean Friedl and Paige Hyer of Royal Bank, Elroy.

» WBF Excellence in Financial Literacy Award

This award recognizes an institution’s dedication to promoting financial education. Thank you to those participating in presentations and continuing to promote financial literacy in the communities they serve.

This year, 11 banks are being recognized with this award:

» Bank of Sun Prairie

» Farmers State Bank of Waupaca

» First Bank of Baldwin

» First National Bank of River Falls

» Ladysmith Federal Savings and Loan Association

» National Exchange Bank, & Trust, Fond du Lac

» Premier Community Bank, Marion

» PremierBank, Fort Atkinson

» The Stephenson National Bank & Trust, Marinette

» Union State Bank, West Salem

» Waumandee State Bank

Visit www.wisbank.com/ EFEawards to see the winners. Contact WBA’s Hannah Flanders at 608-441-1237 or hflanders@wisbank.com for more information.

2022 Financial Literacy Banker and Banker Award Winner 2022 Financial Literacy Award Winners

Community Bank, Marion; Jodie Curtis

.

(1) Sue Krause of Fox Valley Savings Bank in Fond du Lac (right), who was unable to attend this year’s ceremony, receives the

The Wisconsin Bankers Foundation (WBF) is now accepting financial education summary forms highlighting the efforts of bankers working to improving the financial wellness of individuals in their communities. If you or someone from your bank has conducted any kind of financial education presentation since June 1, 2022, please submit the summary form at wisbankfoundation.org/education

Financial Literacy Banker of the Year Award from Wisconsin Bankers Foundation Chair Rose Oswald Poels (left) during the 2020–2021 recognition program last fall. This was her second consecutive year receiving the prestigious honor. (2) Joshua Pauling of Farmers State Bank of Waupaca (left) receives the Financial Literacy Banker Award from Cassandra Krause, Wisconsin Bankers Foundation executive director (right). (3) Front row, kneeling (left to right) are: Jenean Friedl, Royal Bank, Elroy, and Lisa Hower, The Stephenson National Bank & Trust, Marinette. Standing, first row (left to right) are: Lisa Lyon and Sarah Jaeger, First Bank of Baldwin; Lindsay Sprague, Ladysmith Federal Savings & Loan Association; Pamela Sanderson, Bank of Sun Prairie; Kathy Rolfs, PremierBank, Fort Atkinson; Cassandra Krause, WBF executive director; Emily Bennig and Katie Dillon, First National Bank of River Falls. Standing, back row (left to right) are: Paige Hyer, Royal Bank, Elroy; Joshua Pauling, Farmers State Bank of Waupaca; Jill Breitrick, Premier

, Union State Bank, West Salem; and Phillip Pronschinske, Waumandee State Bank.

2022 Year in Review

Scholarships

WBF Agricultural Banking Scholarship WBF Spring Scholarship

The scholarship amount has been increased from $1,000 to $1,500 each to make a bigger impact given the rising cost of college tuition.

Research

Financial Education

WBF publishes quarterly reports that are based on FDIC data and compiled by UFS Tech. The reports feature easy-to-access, yet comprehensive data. Metrics include profitability, asset quality, and liquidity for seven Midwest states.

Banconomics is a valued, go-to resource for bankers, bank directors, and shareholders as well as public policymakers, and the news media. The reports are publicly available at www.banconomics.com, free of charge.

Grant Award

Finance and Investment Challenge Bowl

WBF has committed $15,000 over three years to Asset Builders in support of its statewide quiz bowl competition for high school students. In addition to monetary support, WBF helps recruit banker volunteers for the tournaments. In an atmosphere of friendly competition, the Challenge Bowl complements schools' personal finance and economics curricula.

Reading Raises Interest

(2021 recipients pictured)

Thank You, Package Holders! Thank you to the WBA Gold, Silver, and Bronze Associate Member companies for their continued support of the banking industry and the Association. These companies provide services, information, and products that help Wisconsin banks serve their customers and communities. Thank you

» Please visit wisbank.com/associates for more information about these companies.

WBA GOLD ASSOCIATE MEMBERS:

WBA SILVER ASSOCIATE MEMBERS:

WBA BRONZE ASSOCIATE MEMBERS:

Contact WBA’s Nick Loppnow at nloppnow@wisbank.com or 608-441-1259 to learn more.

Looking to the Year Ahead Economic Resources Available to All Bankers

By Daryll J. Lund

As the last several years have proven — it can be difficult to predict exactly what the year ahead has in store. Between rising inflation, growing mortgage rates, and consumer uncertainty, communities throughout Wisconsin are looking to their local bankers for guidance and tools to prepare.

In an effort to stay one step ahead, educated, and ready to assist when called upon, it is critical that all bankers continue to lean on their peers and industry experts for reliable information and outlooks. Events such as the annual Midwest Economic Forecast Forum — presented by the Wisconsin Bankers Association (WBA) in partnership with other state banking associations

Association Update

Daryll J. Lund

— provides bankers just the setting to become acquainted with tomorrow’s economic predictions.

This year’s virtual forum will feature James Bullard, president and CEO of the Federal Reserve Bank of St. Louis, and Augustine (Gus) Faucher, chief economist at the PNC Financial Services Group. During the two-andhalf-hour event, the two experts will discuss their economic insights and expectations for 2023 and beyond specifically for bankers of all levels, board members, and business clients.

» Access the latest economic research and reports at banconomics.com

Additionally, WBA’s charitable arm — the Wisconsin Bankers Foundation (WBF) — provides quarterly economic updates specifically tailored to Wisconsin bankers on banconomics.com. Compiled by UFS, Banconomics features essential economic data, research, and reports community bankers can utilize to support public and private decision-making. These quarterly reports are designed to be shared with staff, bank directors, and shareholders to assist the bank in tracking benchmarks and creating peer

comparisons — undoubtedly a valuable tool to remain informed on our industry throughout the year.

While uncertainty in our daily lives remains ever present, there is no shortage of tools for bankers to gain valuable insights on economic changes as they occur. Our Association is committed to ensuring bankers in Wisconsin and throughout the Midwest not only have access to the knowledge and resources best suited to guide our community members, but for the continued prosperity throughout our industry.

Lund is WBA executive vice president – chief of staff and president of EBC and MBIS.

UFS Technology is a WBA Silver Associate Member

»See the ad on p. 7 of this newsletter for more details or visit wisbank.com/econ to register for this virtual event.

JANUARY 12, 2023

Two New WBA Associate Member Services for Member Banks

The WBA has approved the following service providers as new WBA Associate Members.

BPAS www.bpas.com

Contact: Todd Mathison Bloomington, Minn. Tel: 952-896-2005 tmathison@bpas.com

BPAS is a national bundled retirement plan provider (recordkeeping, administration, investment selection/monitoring, employee education, trustee/custodial services).

BPAS is very familiar with the banking industry and has been the endorsed retirement plan provider for the BankIn Minnesota Association since

For more information, please contact WBA at sales@wisbank. com or visit www.wisbank.com

2011, working with 57 banks and close to $275,000,000 in 401(k) assets in Minnesota alone. Nationally, BPAS works with 25,000 bank 401(k) participants, who collectively have $3.9 billion in bank 401(k) assets.

LaMacchia Group www.lamacchiagroup.com

Contact: Julianna Cibula Milwaukee, Wis. Tel: 414-223-4400 jcibula@lamacchiagroup.com

La Macchia Group is a

consultative design/build firm with additional expertise in strategic planning, real estate, branding, content, and technology integration. As an end-to-end partner, La Macchia Group has a track record of delivering exceptional customer experiences and solid

ROI. Since 2002, the company has been wholly focused on the financial services industry and has completed over 1,000 projects nationwide.

WBA Associate membership should not be construed as an endorsement of the company’s products or services by the WBA.

Did You Know?

Community Advocate of the Month

Wisconsin’s bankers are the definition of “community advocates” in all that you do every day to improve your local economy through your bank’s products and services, as well as through your generous philanthropy of time and money. This column shares and celebrates the diverse backgrounds, experiences, perspectives, and innovation of some of the extraordinary bankers in this state.

Q&A

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Citizens State Bank, La Crosse President and CEO Dennis Vogel. Read past interviews at wisbank.com.

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

Dennis: The summer after my junior year of college, I interned at Coulee Bank in La Crosse as a credit analyst. I fell in love with the industry right away because of one’s ability to work with so many different businesses and also not be seen as the typical “boring banker!”

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

Since starting at Citizens State Bank of La Crosse, my favorite facet of my role has changed over the years from a financial aspect to an impact aspect.

Daily, I’m fortunate to see and hear how Citizens has impacted its employees, customers, and community. Inspiring this impact and the status quo has created something special. There is nothing more rewarding than hearing how Citizens has changed so many lives. When a spouse of an employee thanks me for how Citizens has impacted their spouse, marriage, and family, there is nothing more gratifying.

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

That a bank isn’t just a bank or a transaction and it doesn’t have to be a boring place to work or do business with. The general public shouldn’t have to settle for just a transaction or poor customer service. Also, the majority of community banks offer the same products as the big banks do with better service. If the general public does their research, they can find that the stereotypes of banking are not always the case if you find the right community bank. Do your homework and it isn’t always about the rate.

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

I could list off some of the common answers: cybersecurity, fraud, fintech, commoditization, credit unions, etc.; however, with all banks facing the challenge of quality staffing, I think it is only going to get worse.

Yes, technology is helping with being able to do more with less; however, in community banking, it is about people. Unfortunately, the number of students going to college to pursue banking is lower and lower. At Citizens, we have worked very hard to create a culture like no other and break some of the stereotypes; however, as an industry there is a big opportunity for all of us to get the message out on the industry overall and all the opportunities which exist. With no new talent coming into the industry, it makes all the other challenges very difficult to address.

Please describe your current role at your bank and share with us one of your more rewarding experiences (e.g., a time you had to go above and beyond to help a customer, a memorable customer interaction, stepping in to help the local community after a disaster, etc.).

Being engaged in the community is one of our core values and is one of several components to an employee’s review at Citizens; it is not optional if one is going to work at Citizens State Bank.

If there is something or someone in need, Citizens and its employees are always there to help. Whether it is the Children’s Museum calling with no notice that they have a delivery truck with an exhibit and help is needed to unload the exhibit, getting together as a team to do iFeed on a Saturday, or an employee knowing a customer doesn’t have enough money to eat so they help by buying him lunch — it is in our DNA to give back and make an impact in the community.

Notice…

Beginning January 2023, Wisconsin Banker, the Wisconsin Bankers Association’s flagship newsletter, will be published bimonthly. The six combined yearly issues will be: January/ February, March/April, May/June, July/August, September/October, and November/December.

Timely, relevant, and up-to-date news, articles, and resources can be found at wisbank.com and by subscribing to the Wisconsin Banker Daily, the Association’s daily e-newsletter.

Just recently, I had a customer call to thank me for everything I did for him and his business over the years. Years ago, he was on the verge of closing his doors because he couldn’t cover payroll; however, I stuck behind him and since then, the company has flourished with significant wealth.

Oswald Poels is WBA president and CEO | ropoels@wisbank.com 608-441-1200 | Twitter: @RoseOswaldPoels

Do you know a banker who should be recognized as a Community Advocate for the work that they do? Nominate them today by emailing Rose at ropoels@wisbank.com

Rose Oswald Poels

Dennis Vogel

Assistant Vice President –Location Manager/Personal Banker

The Peoples Community Bank is seeking an assistant vice president – location manager/personal banker at the Barneveld location. This position will grow market share through building consumer and business client relationships and managing staff.

Essential responsibilities include monitoring growth of branch in the areas of core deposits, assets, and non-interest income; developing relationships with clients, public, and community; actively participating in community events representing the bank; having a complete understanding of all deposit products; using sales skills to recognize referral opportunities; and ensuring quality customer service through staff selection, development, and supervision.

Education and experience required are comparable bank employment experience or a BS degree in business administration, marketing, or related fields; five years minimum experience serving customers in a financial institution setting; availability to work additional hours to meet the needs of customer demands; willingness to participate in community functions and represent the organization in a professional positive manner.

Benefits include health, dental, vision insurance, paid time off, 401k match. Starting wage is dependent on experience.

Interested persons should submit a resume and cover letter explaining their qualifications to Quinn Christensen, CIO, at qchristensen@thepcb.bank A copy of the full job description is available upon request.

The Peoples Community Bank is an Equal Opportunity Employer.

Bankers Marketplace

wisbank.com/classifieds

Want to See More Ads?

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

Bank of Sun Prairie

At Bank of Sun Prairie, our vision is to solidify our position across all generational demographics as the most highly trusted, respected, and recommended full-service bank in the communities we serve. As such, we continue our legacy of customer service dating back to 1897 by upholding our mission statement each day: to become the trusted advisor for families, businesses, and the community offering a complete range of financial services. Applicants interested in the positions below should visit bankofsunprairie.com/employmentopportunities to apply.

Bank of Sun Prairie is an Equal Employment Opportunity / Affirmative Action employer All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status, or any other characteristic protected by law.

»

Branch Manager

The branch manager is responsible for implementing and executing a sales and service culture to grow profitability. This position is held accountable for small business lending, consumer lending, customer experience, deposit generation, retention/growth of market share, and training/development of direct reports. Branches have a great deal of banking complexities, highvolume deposit and lending requiring a high degree of banking acumen. The branch manager is expected to grow the retail and small business segments

Advertise Your Next Job Opening with WBA in Wisconsin Banker

Are you looking to get the word out about a career working at your bank? The best way to attract dedicated and highly skilled employees is to post in Wisconsin Banker!

Wisconsin Banker goes out to an estimated readership of over 5,500 people bimonthly, and each published advertisement includes a digital posting on WBA’s website as well. WBA makes it easy to advertise your new job opening along with its responsibilities, requirements, and location, so you can find the perfect candidate for every new position at your bank.

To find out more about advertising career opportunities at your bank, email bankersmarketplace@wisbank.com or go to wisbank.com/classifieds

by providing financial solutions for customers and has overall accountability for branch performance management.

» Private Banker

The private banker is responsible for expanding and deepening high net worth clients by identifying and matching needs with products and services across business lines. This position provides financial expertise on bank products and services and ensures retention of total client assets and net growth. The private banker works closely with all business lines and brings together the right resources to provide tailored solutions for clients. This position requires participation in the attainment of established bank goals and objectives. This is achieved by utilizing all resources and products to generate business growth in collaboration with all business lines within the bank.

» Vice President – Business Banker

The business banker develops depository and credit business relationships by participating in sales management and officer call programs. This position promotes business through good client relations and cross selling services in adherence with the bank’s lending policies and procedures. In addition, the business banker maintains quality credit and manages own portfolio.

Executive Vice President & Chief Lending Officer

Citizens State Bank of Loyal is seeking a qualified executive vice president & chief lending officer.

This position is responsible for the management of the loan department, including development and communication of policies and procedures, and overall responsibility for the growth and quality of loan portfolio. In addition, the chief lending officer is responsible for the functions associated with the credit risk management of the bank; identifying and understanding developing trends; and providing a thorough, independent assessment of a borrower’s capacity to withstand the risks posed by those trends through the preparation of written, in-depth analyses of business, management, and industry factors.

A primary component of this role will involve the exercise of independent judgement and discretion on matters pertaining to the identification and management of the credit risk and quality of the bank’s loan portfolio.

This position is a member of the senior management team tasked with the responsibility of leading the bank in the absence of the CEO.

Contact Jasmine Gross at jgross@ csbloyal.com to apply.

WISCONSIN BANKER

Association Officers:

Daniel J. Peterson (Chair), President/CEO, The Stephenson National Bank & Trust, Marinette Donna J. Hoppenjan (Chair-Elect), President/CEO, Mound City Bank, Platteville

Alvaro Araque (Vice Chair), Senior Vice President, Director of Consumer and Private Banking, Johnson Financial Group, Racine

Kenneth D. Thompson (Past Chair), President/CEO, Capitol Bank, Madison Rose Oswald Poels, President/CEO, Wisconsin Bankers Association, Madison

Association Board of Directors:

James R. Chatterton, President

National Exchange Bank & Trust, Fond du Lac

Paul A. Hoffmann, President/CEO Monona 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

Paul J. Northway, President/CEO

American National Bank Fox Cities, Appleton

Greg A. Ogren, President/CEO

Security Bank Shares, Inc., Iron River

Joe Peikert, President/CEO

Wolf River Community Bank, Hortonville

Jennifer L. Provancher, President/CEO

The Equitable Bank, S.S.B., Wauwatosa

Daniel J. Ravenscroft, President/CEO

Royal Bank, Elroy

Teresa (Terry) Rosengarten, President/Chief Operating Officer

Unity Bank, Augusta

Wisconsin Banker is published by Wisconsin Bankers Association, 4721 South Biltmore Lane, Madison, WI 53718; Telephone: 608-441-1200; Fax: 608-661-9381; wisbank.com

Cassandra Krause, Editor Advertising: sales@wisbank.com 608-441-1216 ckrause@wisbank.com

To report a change of address, 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 to 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.

We promote a healthy environment for banks in Wisconsin through actively advocating, educating, and supporting our members.

WBA Mission Statement

1 IN 5 CUSTOMERS USE PREPAID CARDS ON A MONTHLY BASIS

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•No reason to not add this to your product set

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