March_April 2023 Wisconsin Banker

Embracing a Culture of

By Hannah Flanders

Cyberattacks are ranked as one of the top threats to banks across the country. As these threats continue to become increasingly sophisticated and prevalent throughout our communities, bankers are looking to mitigate the risk for the safety of both their institution and all

customers served. As such, administrators — including members of the human resources (HR) department — have been tapped to take on a new role alongside the information technology (IT) department to protect the bank from falling victim.

Prioritizing Cybersecurity

According to ProofPoint’s

State of the Phish survey, approximately 79% of U.S. organizations reported at least one successful phishing attack in 2021. As cybercrime continues to rise — costing over $1 trillion a year worldwide, as highlighted in a report by McAfee Center for Strategic and International Studies —

(continued on p. 24)

All staff needed to help mitigate

risk

F IN T ECH Helps Reshape the Banking Industry

Banks engage in embedded FinTech to meet consumer expectations

By Hannah Flanders

As competition throughout the banking industry continues to rise and digitalization takes the world by storm, many banks are turning to new opportunities with FinTech providers.

Today, consumers throughout the U.S. seek immediate, safe, and easy solutions in every aspect of their

day-to-day lives — from transportation and grocery shopping to banking.

As banks throughout Wisconsin look to best serve consumers, their ability to create innovative, flexible offerings is one of the most important factors to consider in remaining relevant and competitive in their communities.

» The Growth of Technology

In 2021, nearly half of all households across the country utilized nonbank online payment services, including peer-to-peer payments (P2P), according to the Federal Deposit Insurance Corporation’s (FDIC) 2021 Survey of Unbanked and

Underbanked Households. P2P payment solutions — such as PayPal and Zelle — and other technology innovations, including Uber, DoorDash, and Zoom, have deeply engrained themselves into households

across America and become especially

(continued on p. 20)

» Learn more about WBA’s upcoming FinTech Showcase on p. 7.

Expanding Your Engagement WBA members find new ways to get involved this spring

By Daniel J. Peterson

At the beginning of my term as chair for the Wisconsin Bankers Association (WBA), I announced that my top priority for the year ahead was to encourage WBA-member bankers to deepen their engagement with the Association.

Since June, our members have done an excellent job at leading the charge to shape the future of the Association and the profession. Between participating in fundraising efforts in support of pro-

Message from the Chair

Daniel J. Peterson

» Learn more about 2023 Power of Community Week on p.32 of this issue or by visiting wisbank.com/BanksPowerWI

WBA events and programs held thus far — thousands of bankers from around the state have taken

are involved in serving our communities as well.

Each spring, WBA-member banks, Associate Members, and Association staff look forward to taking part in various volunteer activities highlighting the banking industry’s commitment to the community. As Consumer Protection Week, Community Banking Month, Financial Literacy Month, and Teach Children to Save Day are all just around the corner, now is the perfect time to demonstrate to our neighbors

throughout our state. During the sixth annual campaign — which will be held April 17–22, 2023 — all WBA members are encouraged to showcase the phenomenal efforts put forth by their team by visiting wisbank.com/BanksPowerWI.

However your team chooses to engage with the community this spring — be it making a donation to a local shelter or nonprofit, hosting a shred day, or volunteering to educate members of your community — the value of

Understanding balance sheet impacts in uncertain times

Uncertain economic times lead to market volatility and shifting rates, calling for an active, tailored and disciplined approach to balance sheet management. BOK Financial Capital Markets works with community banks and credit unions, providing guidance to meet the unique needs of institutions, their goals and risk profiles. Trusted financial experts should provide actionable insight that helps keep senior management focused on what matters most—our goal is to help clients formulate a strong, flexible strategy to avoid impacts to earnings and maximize performance.

Kent Musbach, SVP and team lead, as well as Marc Gall, VP and A/L strategist, share a glimpse of recent client discussions.

RISING INTEREST RATES

As expected, the Fed recently began tightening monetary policy, projecting a significantly higher target rate ahead. As this cycle ages, it’s important to monitor the shape of the curve, as well as the relative performance across spread and risk assets. A key topic with clients involves how potential rate changes impact the balance sheet and investment portfolio, with Musbach and his team helping institutions anticipate and plan for all rate scenarios. Among considerations are effects of a flatter curve or depositto-loan pricing adjustments. Musbach said, “We ask if clients have a forward-looking, adaptable strategy to perform best in differing rate environments, as relying on current projections may prove costly.”

PERSISTENT INFLATION

Long considered stable, and recently “transitory,” inflation persists at 40-year highs. Though assumed to recede, variables for consideration include:

• Will interest rate expectations change?

• Will supply chain issues ease?

• Will hiring accelerate?

As Musbach observes, the stock market or housing could react negatively, and an economic slowdown may occur. Alternatively, consumers may tap savings, heating up inflation.

COMPRESSED NET INTEREST MARGIN

Financial institutions also must counter shrinking margins, as pandemic-related activity and fees only softened the blow of a worsening industry trend—and it’s important to consider any longer-term margin levers to pull.

“Our goal is to understand each individual institution, provide actionable insight and strategy, ultimately leading to decisions that suit the client, their goals and objectives best.” -Marc Gall.

1. Calling us is the first step.

3.

CVB preparing the loan documents generally within 5 to 10 days.

5.

CVB wires the funds.

2.

You email us the appropriate documents of information.

4.

Meeting the customer. We will come to you to sign loan documents.

6.

Wow that was easy.

Supporting WBA’s Advocacy Initiatives

Bankers look ahead to WBA Capitol Day, Washington summits, spring elections

By Lorenzo Cruz

With the 2023–24 legislative biennium underway and a great deal of banking-related activity on the horizon, the Wisconsin Bankers Association (WBA) government relations team is off to a busy start.

As Governor Tony Evers vies with a Republicancontrolled legislature to spend a record $7B State budget surplus, our team is looking ahead to opportunities in the state budget to address concerns related to tax relief, economic development, and general fiscal policies impacting the industry.

Aside from the State budget, this year WBA also plans to navigate the legislative process to pass legislation on several other key issues including elder fraud, banking modernization, and the trust code as well as guard against harmful credit union expansion/acquisitions, credit card swipe fees (interchange), and privacy reform.

With so much in store this year, it is imperative that members of the WBA make their voices heard on issues impacting them.

Why Our Advocacy Matters

Like our Association, the Wisconsin credit unions host a day at the State Capitol each year. In January, over 200 credit union activists donned their red and black scarves and lined the hallways of the Capitol in Madison to lobby their state legislators in person on their top priorities like credit union modernization — which is a deceptive ruse from WBA’s perspective that calls for broadening of the credit unions’ powers to further unlevel the playing field while still exploiting and leveraging their tax-exempt status.

Advocacy Update

Lorenzo Cruz

WBA/ABA Washington Summit March 20–22  Washington, D.C. aba.com/training-events

WBA Capitol Day April 26  Madison wisbank.com/CapDay

WBA/ICBA Capital Summit May 14–17  Washington, D.C. icba.org/capitalsummit

See ad on p. 32 for details.

With this in mind, it is vital that the membership to turn out in force on WBA’s Capitol Day on Wednesday, April 26 with a comparable or larger presence to counteract their lobbying efforts and remind legislators and staff that banks invest in and serve their communities too.

Legislators need to hear from local members who live in their districts that banks are also vital economic development pillars of their communities that help make dreams a reality but without the advantage of a tax exemption and often with more regulatory requirements to meet like the Community Reinvestment Act (CRA).

How Can You Assist in WBA’s Advocacy Efforts?

In addition to registering to attend WBA’s Capitol Day on April 26, there are several ways banks and individual members may choose to elevate WBA’s advocacy efforts. Between new and existing political giving opportunities, bankers are encouraged to find the best way to engage and support our advocacy efforts and infrastructure.

This year, WBA introduced a new initiative — the Leadership Circle — recognizing major investors who contribute to the PAC and conduit. Many will also be familiar with the Silver Triangle Club award for individuals, the Gold Triangle Club award (the second-highest level of fundraising recognition for banks), and the ability to make corporate contributions to our issue advocacy fund.

Lastly, member banks should strive to achieve the pinnacle grassroots advocacy award, Bankers Involved in Grassroots and Government (BIGG). BIGG honorees are recognized at WBA’s annual Bank Executives Conference for receiving the highest level of grassroots activism by meeting five of seven established criteria.

WBA urges advocacy officers and c-suite executives to take an active role to help WBA meet its 2023 political fundraising goal of $300,000; increasing the number of attendees at Capitol Day and Kohler outing-issue advocacy

Be Sure to Vote April 10! Make sure you head to the polls on April 10 as Wisconsinites cast their vote in the State Supreme Court race and voters in the 8th State Senate District — which is located north of Milwaukee and includes parts of Whitefish Bay, Brown Deer, Cedarburg, Grafton, Menomonee Falls, and Germantown — will determine if the GOP regains a 22–11 supermajority in a special election.

event; and growing participants in the Leadership Circle, Silver Triangle, Gold Triangle, and BIGG. By collaborating with members and working together on the advocacy front, WBA can effectively focus its energy and resources on protecting the interest of the banking community while advancing the Association’s key priorities in 2023.

Cruz is WBA vice president –government relations.

INTRODUCING

WBA Announces New GR Director

The Wisconsin Bankers Association (WBA) is pleased to announce Tyler Foti as the Association’s director – government relations. Foti previously served as a legislative aide for then State Senator Scott Fitzgerald

and in various positions navigating the tfoti@wisbank.com legislative process and public policy, most recently at Michael Best Strategies.

Sitting currently as a Waukesha County Board Supervisor and serving on the Finance Committee, Foti enjoys collaborating with local leaders and providing solutions that produce immediate impact. He looks forward to working with state government officials and their staff on behalf of Wisconsin’s banking industry.

What Wisconsin’s Transfer by Affidavit Form Means for Bankers

WBA Creates Transfer by Affidavit Guide

By Scott Birrenkott

When an individual dies and leaves property subject to administration in Wisconsin, there are several types of estate procedures which can be followed. One such method involves the use of a form known as a Transfer by Affidavit (sometimes referred to as a Small Estate Affidavit).

The Transfer by Affidavit is often a popular option due to its simplicity and ease of use. Because of this, Wisconsin banks are likely to encounter individuals seeking to use this form to close out accounts.

It is important to remember that a bank should not be advising or recommending anyone use a Transfer by Affidavit Form — or any other particular method to wrap up an estate. When a customer dies, the decedent’s family, attorney, or other party acting as the executor must determine the appropriate method. Estate matters can be quite complex, and the Transfer by Affidavit is not the only method available. Oftentimes, a relative of the decedent may come to the bank asking for advice on how to administer an estate. However, it is important that bankers

Compliance Column

Scott Birrenkott

» The new Transfer by Affidavit Guide in addition to a variety of toolkits and resources are available at wisbank.com/ resources/compliance

know to refer these individuals to an attorney.

A Transfer by Affidavit may only be used for estates having a value of $50,000 or less (but again, note that it is not the only option available for small estates).

The individual who presents a Transfer by Affidavit is known as an “affiant.” There are four categories of affiants who may use a Transfer by Affidavit, that being an heir, trustee, person who was guardian at the time of the decedent’s death, and a person named in the will to act as a personal representative. As with all aspects of the Transfer by Affidavit, the affiant must determine their capacity and represent it on the form — not a banker. By completing the Transfer by Affidavit,

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

the affiant makes various statements — under oath — regarding the property, and by accepting the decedent’s property, the affiant assumes certain duties. Most of these duties do not concern the bank, but there are a couple matters which do.

First, if the affiant is a person named in the decedent’s will to act as personal representative, banks must wait 30 days before releasing the property. The reason for this waiting period is that if, within the 30-day period, the bank is presented with an affidavit for the same decedent from another person, then the bank is prohibited from releasing the property. Essentially, it is a waiting period in which other parties might express an interest in the property. If this happens, then the bank should not release the property until instructed to do so by court order.

Another responsibility the affiant has is to notify the state of Wisconsin if the decedent (and/or the decedent’s spouse) ever received the benefit of certain medical services. The

WBA Comments on CFPB’s Data Privacy Summary of Proposals

Summary of a recent comment letter below

On January 25, WBA filed comments on the Consumer Financial Protection Bureau’s (CFPB) Outline of Proposals to implement regulations related to data access rights. While CFPB is still in the information gathering stage and has not yet issued any rules,

Legal Hotline:

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.

Transfer by Affidavit Form includes a section related to these services and, if the decedent (or spouse) received such benefits, or the affiant does not know, then the affiant must send notice to the state and provide receipt of that notice to the bank before receiving property. If the affiant does not provide this receipt, the bank cannot release the property.

WBA took the opportunity to share the industry’s thoughts regarding the data sharing and aggregation ecosystem. WBA

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

recommended that CFPB take a cautious, balanced approach to any future rulemaking.

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

Oftentimes, the Wisconsin Bankers Association (WBA) is asked certain questions such as: must a bank verify the affiant’s status (e.g., as an heir)? Or, what if the affiant lies or is mistaken regarding the property or other duties? These questions, and others, can be answered by considering the statutory protections received by banks releasing property to the affiant. That is, Wisconsin law provides for release of liability of the transferor of the property. Meaning, liability protections for the bank. This protection is contingent on the above conditions, but in general, banks should consider that by signing the Affidavit Form, the affiant certifies that the contents of

New in 2023: WBA FinTech Showcase Event

Helping bankers stay ahead of change; embrace new solutions

The Wisconsin Bankers Association (WBA) is excited to announce that, for the first time in 2023, WBA members will have the opportunity to attend a full-day event dedicated to the value of FinTech and their strategic partnerships.

This one-day event, to be held on April 17 at Glacier Canyon Lodge & Convention Center, will not only feature two keynote sessions from Rafael DeLeon of Ncontracts and Charles Potts of the Independent Community Bankers of America (ICBA), but eight FinTech live demonstrations. Throughout the event, bankers will have the opportunity to hear from various FinTech service providers, watch 20-minute product demos, and network among both their peers interested in strategically partnering with

Compliance Column

(continued from p. 6)

the Affidavit are true and correct. Unless the bank, for some reason, had actual knowledge that an affiant was lying or otherwise misrepresenting information (e.g., the affiant describes property as being under $50,000 but bank knows for a fact that the estate holds property over $50,000), then the bank is not required to verify the information beyond what the statute otherwise requires.

While the above serves as a brief overview of Wisconsin’s Transfer by Affidavit Form, there are some additional nuances worth considering which are beyond the scope and format of this article. However, WBA recently created a Transfer by Affidavit Guide which goes into greater detail regarding the form, who may use it, how it may be

APRIL

» Visit wisbank. com/FinTech to learn more or to register for the FinTech Showcase.

FinTech providers and a variety of FinTech vendors.

Inspired by the one-hour FinTech Showcase held at WBA’s 2023 Bank Executives Conference, this event will allow attendees to stay up to date on solutions related to the industry, expand their networks, and see for themselves how various solutions may impact their bank.

“With the rate our industry continues to evolve, it is critical that bankers are armed with the resources and technology to stay competitive,” said WBA President and CEO Rose Oswald Poels

used, along with a discussion of the law, step-by-step instruction for reviewing the form, and a question-andanswer section. This guide may be found on WB website within the compliance resources section at com/resources/compliance

For any questions regarding the Transfer by Affidavit Form, or other topics, contact WBA legal at wbalegal@wisbank. com or 608-441-1200. Additional compliance resources, including Q&A’s, can be found by visiting wisbank.com/ resources/compliance.

Birrenkott is WBA director –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.

“In hosting an event specifically to assist WBA members in navigating the opportunities FinTech partnerships offer, our Association is confident bankers will find value both in expanding their networks, but also leave inspired and prepared to gain efficiencies through the greater use of technology in bank operations.”

To take full advantage of the busy day, WBA members are encouraged to register a small group to visit and view demos by eight FinTech providers showcased during the event and meet with several others in the exhibit hall. As part of this, those who register two banker attendees

will receive a free registration, including all meals and sessons, for a third banker.

Registration for the inaugural full-day FinTech Showcase event is open now! Learn more and view the full agenda now at wisbank.com/ FinTech Vendors and FinTech providers will be updated on the registration website as they are selected by the event advisory committee.

ICBA Services Network is a WBA Gold Associate Member. Ncontracts is a WBA Associate Member.

Selection of these companies is not an endorsement by WBA for their products or services.

April 17, 2023

Wisconsin Dells

» 2 Keynote Presentations

» 8 Live Demos (20 minutes each)

» Showcase Hall open all day for networking and one-on-one conversations

» Team Pricing: first 2 bankers: $50/each third banker: Free

» wisbank.com/FinTech

Members go “All In” at 2023 WBA Bank Executives Conference

Over 500 attendees gathered in Wisconsin Dells for the annual WBA Bank Executives Conference, “Bank Execs,” February 8–10 in Wisconsin Dells. Bank Execs is the largest banking event in the state and this year included global keynote speakers, eight breakout sessions, and many networking opportunities. Several prestigious awards were presented at the conference, including Banker of the Year, the Wisconsin Bankers Foundation Financial Education Innovation Award, 50-Year Club inductions, and Gold Triangle and BIGG advocacy recognition.

This year’s conference theme was “All In,” which alludes to concepts that are highly relevant in Wisconsin’s banking industry today.

First, bankers are “all in” for the prosperity of their communities. It is of great importance to everyone in the industry that the places where they live and work are welcoming and inclusive. Second, bankers are “all in” for the future of their profession. Dan Peterson, president and CEO of The Stephenson National Bank & Trust, Marinette, has focused on member engagement during his tenure as 2022–23 WBA Board chair and encouraged fellow WBA members to take advantage of all that WBA has to offer — from advocacy and professional development to compliance and vendor services.

Bank Executives CONFERENCE

The conference drew more than 500 bankers, WBA Associate Members, and guests to Wisconsin Dells.

Above, left: Virginia Heyburn of Engage fi kicked off Thursday’s program with a keynote presentation and moderated the FinTech showcase. Above, right: The FinTech Showcase offered six-minute demos from seven vendors, and attendees had the chance to follow up personally in the exhibit hall.

In 2022, 35 banks earned WBA’s highest advocacy award, the Bankers Involved in Grassroots and Government (BIGG) Award. Learn how your bank can be recognized for its advocacy efforts at wisbank.com/advocacy

February 8–10, 2023 Kalahari Resort & Convention Center Wisconsin Dells

2023 Bank Executives Conference:

“All In”

Feb. 8–10 | Kalahari Resort & Convention Center | Wisconsin Dells

The silent auction (near right) and Kendra Scott Gives

Back pop up (far right) raised money for the Wisconsin Bankers Foundation. See p.10 to learn more about the Wisconsin Bankers Foundation and its fundraising efforts.

The exhibit hall featured over 70 exhibitors offering products and services tailored to Wisconsin banks.

A variety of breakout sessions — ranging in topic from cybersecurity and digital transformation to talent recruitment and retention — provided opportunities to engage with expert speakers.

The Wisconsin Bankers Foundation (WBF) Financial Education Innovation Award was presented to Dan Peterson (left) and Lisa Hower (center) of The Stephenson National Bank & Trust, Marinette, by WBF Chair Rose Oswald Poels (right)

Wisconsin Lieutenant Governor Sarah Rodriguez (center right, pictured with WBA Board members) spoke to attendees about the Wisconsin economy and the upcoming state budget.

Wisconsin Bankers Foundation Raises Over $12,000 for Financial Literacy

The Wisconsin Bankers Foundation raised $12,636 in its silent auction and Kendra Scott Gives Back jewelry pop up event at the WBA Bank Executives Conference.

» wisbankfoundation.org

The Foundation’s mission is to promote financial literacy and capability in Wisconsin

communities through education, scholarships, and research.

The Foundation is in the midst of preparing Reading Raises Interest Kits in advance of National Teach Children to Save Day, April 27, 2023 (see p. 22), and is currently

accepting applications for its spring scholarships (four awards of $2,000 each) through March 15, 2023 (see p. 22 for more details on both initiatives)

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

Thank you… to all the generous donors who contributed to the auction!

AbbyBank

Paul Adamski

Associated Bank

Bank of Sun Prairie

Bank of Wisconsin Dells

Bristol Morgan Bank

Denise Bunbury

Capitol Bank

Destination Kohler

Edge One

Ehlenbach’s Cheese Chalet

The Equitable Bank

Farmers & Merchants Bank

FIPCO

First Federal Bank of Wisconsin

Fiserv

Godfrey & Kahn S.C.

Kelly Hegney

Horicon Bank

Ron Howe

HUB | Taylor Advisors

Kalahari Resort & Convention Center

Kristen Kautzer

Kendra Scott Jewelry

Cassandra Krause

Steve Larson

Debra Lins

Heather MacKinnon

Milwaukee Brewers Community Relations

Milwaukee Bucks

Mound City Bank

Ami Myrland National Exchange Bank & Trust

Joseph Peikert

Rose Oswald Poels

Port Washington State Bank

Elisa Rollo

Royal Bank

Jill Schwichtenberg

Security State Bank

The Stephenson National Bank & Trust Town Bank, N.A. Trappers Turn Golf Club

Waldo State Bank

Thankyou…

to everyone who bid on auction items. Congratulations to all our WBF Silent Auction winners!

Justin Adamski

Paul Adamski

Scott Alexander

Cathy Barnes

Michael Britton

Denise Bunbury

Steve Diehl

Laura Enders

Cynthia Erdman

Morgan Farmer

Ivan Farris

David Fritz

Matt Harms

Shay Horton

Steve Larson

Jane Leis

Matt McDonnell

Chris Ogren

Michael Olson

Dan Riebe

Linda Schellpfeffer

Charles Schmalz

James Schowalter

Timothy Schueler

Jill Schwichtenberg

Ken Thompson

Joseph Witmer

The Wisconsin Bankers Foundation (FEIN 46-3791061) is organized for charitable and educational purposes. Its mission is to promote financial literacy and capability to the public and to broaden consumer empowerment in the financial services industry through education, scholarships, grants, and research.

Pressures and expectations have never been higher. We help you remain fully staffed so you can thrive.

| Wisconsin Dells

Thank You Conference Sponsors, Fintech Showcase Vendors

The continued success of this conference is due in large part to the generous support of the companies listed here:

Gold Associate Member

Sponsors:

»FHLBank Chicago

»BMO Harris Bank — Correspondent Banking

»BOK Financial Capital Markets

»Bankers’ Bank

»Cinnaire

»FIPCO®

»Godfrey & Kahn S.C.

»ICBA Services Network

»WBA Insurance Services (WBA Employee Benefits Corporation, Inc. and Midwest Bankers Insurance Services)

Silver Associate Member Sponsors:

»Bell Bank

»Locknet

— An EO Johnson Company

»UFS LLC

»Wipfli LLP

Bronze Associate Member Sponsors:

»Arctic Wolf Networks

»BHG Financial

»The Baker Group

»Bank Compensation Consulting

»Boardman & Clark LLP

»Delta Dental

»Eide Bailly LLP

»Executive Benefits Network

»forbinfi, A VGM Company

»JMFA

»Jefferson Wells

»Northland Securities

»Plante Moran

»Quad City Bank & Trust

»Reinhart Boerner

Van Deuren s.c.

»SHAZAM®

»Spectrum Investment Advisors

»West Bend Mutual Insurance

Associate Member

Conference Sponsors:

»American Bankers Association

»The American Deposit Management Co.

»Associated Bank

»Data Financial, Inc.

»First Business Bank

»Glia

»Graduate School of Banking at the UW-Madison

»Hovde Group, LLC

»The KeyState Companies

»LERDAHL: Inspired Workplace Interiors

»Mackinac Credit + Compliance LLC (MCC)

»Olsen Palmer LLC

»Open Lending

»Optimal Blue

»PCBB

»Performance Trust

»Steffes Group

»UnitedHealthcare

»Visa, Inc.

FinTech Showcase Vendors:

»Accrue

»DocFox, Inc.

»Kapitalwise, Inc.

»La Macchia Group

»KlariVis

»LemonadeLXP

»Sequretek

Greg Lundberg Honored as WBA Banker of the Year

The Wisconsin Bankers Association (WBA) is pleased to announce the 2022 Banker of the Year award winner: Greg Lundberg, president and CEO of Fortifi Bank, headquartered in Berlin, Wis.

Lundberg has over 30 years of banking experience, and Fortifi Bank, formerly 1st National, has been in business for more than 140 years. The bank has a mission of “Growin’ Wisconsin” — one person, one business, and one relationship at a time.

“It is a joy to recognize Greg as the 2022 Banker of the Year,” said Rose Oswald Poels, WBA president and CEO. “In addition to his values-driven leadership of Fortifi Bank, he extends his service to his community and to the banking industry.”

Lundberg has given over 200 hours of community service in the last 12 months. He eagerly shows up for many community events and takes part in community discussions

and initiatives. He prides himself on being a “working board member” and is deeply committed to the success of The Boys & Girls Club of the Tri-County Area and Green Lake’s Town Square Community Center, for which he serves as a board member and is active on additional subcommittees, including finance, facilities management, and business development.

Lundberg joined Fortifi Bank in 2010 after having gained experience at Citizens

Bank, Johnson Bank, and Associated Bank. He currently serves on the WBA Board of Directors and has been an active member of WBA through the Building Our Leaders of Tomorrow (BOLT) Section and the Advocacy Officer Program. He earned his bachelor’s degree in finance from the University of Wisconsin-Whitewater and his MBA degree in finance from the University of Wisconsin-Madison.

Since assuming the role of president and CEO of Fortifi

Bank in 2019, Lundberg has had a tremendous impact on the overall financial performance of the bank and has led multiple efforts to improve efficiency and, ultimately, profitability. Lundberg was instrumental in raising $10 million of additional capital for the bank in late 2021, which has propelled the balance sheet growth experienced at Fortifi Bank over the last 18–24 months. The bank’s total assets increased from $509 million at the end of 2020 to $607 million as of November 30, 2022.

The WBA’s Banker of the Year award is presented to one Wisconsin banker each year. The recipient must be a Wisconsin bank CEO or president who has demonstrated outstanding service to their bank, to the continued vitality of their community, and to the banking profession. The Banker of the Year award began in 1986, and Lundberg is the 37th banker honored with this distinction.

Greg Lundberg (center) is presented with the 2022 Banker of the Year award.

WBA Bank Executives Conference | Feb. 8–10 | Kalahari Resort | Wisconsin Dells

WBA Bank Executives Conference | Feb. 8–10 | Kalahari Resort | Wisconsin Dells

Bankers Honored for Five Decades of Dedicated Service to Industry

Fourteen bankers were recognized during a special luncheon at the WBA Bank Executives Conference for serving Wisconsin’s banking industry for over five decades.

WBA congratulates the following individuals on their induction into the WBA 50-Year Club Thank you

for your exceptional service and leadership!

» Patricia Boldig, First National Bank in Tigerton

» George E. Gary, Columbia Savings & Loan, Milwaukee

» Kathryn Gessert, Partners Bank of Wisconsin, Stratford

» Gene Haberman, Citizens State Bank, Hudson

» Robert Jossie, Bay Bank, Green Bay

» Robert J. Just Jr., Mound City Bank, Platteville

» Susan Kopiness, Ixonia Bank

» Carl Laveck, Denmark State Bank

» Thomas Maxwell Sr., Farmers & Merchants Bank & Trust, Marinette

» Brian Richardson, Farmers State Bank, Hillsboro

» Charlie Saeman, State Bank of Cross Plains

» Donna J. Slaney, Bank of Prairie du Sac

» David H. Stack, Superior Savings Bank, Poplar

» Karen Wang, State Bank Financial, La Crosse

Allied Solutions, LLC | Arctic Wolf Networks | BHG Financial | BMO Harris Bank – Correspondent Banking | BOK Financial Capital Markets | BPAS | The Baker Group | Bank Compensation Consulting | Bankers’ Bank | Blanchard Consulting Group | BrandPoint Design, LLC | Case Financial | Computer Services, Inc. | Data Center Inc. (DCI) | Data Financial, Inc. | Delta Dental of Wisconsin | Edge One, Inc. | Eide Bailly, LLP | FHLBank Chicago | FORVIS, LLP | First Business Bank | Fiserv, Inc. | forbinfi, A VGM Company | Generations Title Company, LLC | Glia | Graduate School of Banking at UW–Madison | HUB Financial Services | Haberfeld | Hilltop Securities, Inc. | ICBA Services Network | IT Resources, Inc. | IntraFi Network | Ironcore, Inc. | JMFA | Jefferson Wells | Keller, Inc. | La Macchia Group | Lasco Development Corporation | Leap Strategic Marketing | Lenderful Solutions | Locknet – An EO Johnson Company | Ncontracts | New Era Technology | Northland Securities | NuSource Financial | ODP Business Solutions | Plansmith Corporation | PULSE®, a Discover Company | Quad City Bank & Trust | The Redmond Company | Reich & Tang + Total Bank Solutions | Remedy Consulting | SBS CyberSecurity | Spectrum Investment Advisors | Spry Brands | Steffes Group | Strategic Resource Management, LLC | UFS Technology | UnitedHealthcare | Vantage Point Solutions | WBD, Inc. | West Bend Mutual Insurance | Wind River Financial,Inc. | Wolf & Company | Young & Associates, Inc.

Moving Banking Forward

At Reinhart, we take the time to understand your financial institution inside and out so we can be at your side for whatever comes your way. We’ll earn your trust and loyalty with our integrity, agility and responsiveness. And we’ll work collaboratively with you and each other to pursue and achieve your greatest ambitions.

Our experienced attorneys represent a comprehensive range of banking and financial industry legal services, all coordinated by a single touchpoint for you to simplify even the most complex challenges and opportunities.

Hybrid Women in Banking Conference Returns in 2023

Premier event designed for women leaders in banking

The 17th annual Wisconsin Bankers Association (WBA) Women in Banking Conference will once again be held as a hybrid event! On April 25, women bank leaders from across Wisconsin will either reconvene at Glacier Canyon Lodge & Convention Center in Wisconsin Dells or join from the comfort of their home or office via livestream.

This must-attend event for all women leaders will kick off on Monday, April 24 with an optional networking event — Belles in the Dells. Attendees will find various opportunities to connect with their peers, with a dedicated session of tabletop conversations to share ideas, ask questions, and learn best practices from other women.

In addition to several networking opportunities, WBA is excited to once again offer over four hours of presentations from speakers our leaders will find empowering and insightful.

Tuesday’s conference will open with Dr. Melissa Furman, founder and consultant at Career Potential, LLC and faculty member at the James M. Hull College of Business at Augusta University. Dr. Furman utilizes her research and subject-matter expertise related to generational diversity, unconscious bias, career and leadership development, and emotional intelligence to have a positive, practical impact on both organizations and individuals. Each banker will have the opportunity to exercise refreshing their mindset, recharging their battery, and refueling their

energy in preparation for the sessions ahead.

WBA is also thrilled to announce that Esther George, who served as president and CEO of the Federal Reserve Bank of Kansas City from 2011 to January 2023, will be speaking at the conference. George joined the Federal Reserve Bank of Kansas City (FRB) in 1982 and served much of her early career in the Division of Supervision and Risk Management, later serving 10 years as the District’s chief regulator. With highlights from Ms. George's illustrious career with FRB as well as from her background of

growing up on the family farm and living in and serving rural America, this session will surely inspire women bankers to take their careers to the next level!

Attendees will also hear from Amber Farley, partner and executive vice president of brand development at Financial Marketing Solutions (FMS).

As a well-known and respected teacher, presenter, consultant, and thought leader on bank branding, marketing, leadership, and digital marketing strategies for banks around the country, Farley will address topics such as what leadership looks like today, how to strengthen leadership skills, the barriers to female leadership some may encounter, how the style of leadership varies between men and women, and ways women can empower and inspire their team.

The Scenes of Wisconsin Calendar — cherished by bank customers around the state — will be entering its 17th year with the 2024 edition. The calendars are a high-quality, cost-effective marketing tool sold exclusively to banks across Wisconsin, and banks can customize the

calendars with their own logo.

All of the photos submitted for the contest are captured by Wisconsin bankers, their family members, bank directors, or bank customers.

Last year, WBA received photos from over 70 photographers, which enabled the selection panel to curate a

stunning calendar featuring seasonal images, sampling both urban and rural scenes throughout Wisconsin’s geography. The panel is excited to see new perspectives for the 2024 calendar. Photo submissions are being accepted now through May 1, 2023, and winners

will be notified in June.

If you are interested in submitting your photography for the photo contest or would like to place an order for your bank’s supply of calendars, please visit wisbank.com/Scenes

OfWI or scan the QR code (right)

Dr. Furman

Farley

George

Bulletin Board

News about people working in Wisconsin’s financial institutions

Promotions and New Hires

Durand

Jenny Jereczek (pictured), director of ag banking, has been appointed market president for Security Financial Bank’s Durand location.

Fond du Lac

Andrew Kittelson (pictured) has joined FVSBank as senior vice president and chief lending officer.

Horicon

Horicon Bank announces the promotions of Grace Bruins (pictured) to assistant vice president – marketing and Stephanie Albers (pictured) to assistant vice president –premier banking.

Luxemburg

Bank of Luxemburg is pleased to announce the recent

promotions of Sue Neuzil to vice president – human resources and Jake Dittmann to the position of vice president –commercial lending.

Madison

First Business Bank is pleased announce that Jim Hartlieb has been named president and chief executive officer; Josh Hoesch has been appointed

president of the Greater Dane County Market; and Chris Doering has been promoted to senior vice president and director of commercial banking. The bank also welcomes Kevin McCloud, CFP, ChFC (pictured) as vice president –wealth advisor and Eric Flores, CPA (pictured) as vice president – portfolio manager.

Manitowoc

Bank First is pleased to announce the promotions of Tom Omdahl (pictured) to vice president – BSA/ compliance officer and Derek Domino (pictured) to assistant vice president –treasury management.

New Glarus

The Bank of New Glarus is excited to announce the promotion of Julie Flannery (pictured) to vice president –compliance.

New London

Matthew R. Lemke (pictured) has been named president of First State Bank. Lemke succeeds Bob Van Asten who plans to retire on March 31.

(continued on p. 17)

Columbus, Waterloo Bankers Honored with Lifetime Service Awards

On January 10, WBA President and CEO Rose Oswald Poels presented Randy Bobholz, president and CEO, Farmers & Merchants Union Bank, Columbus, with a WBA Lifetime Service Award in recognition of his 43 years of service to the banking industry. Congratulations!

WBA Lifetime Service Awards are awarded to bankers who have served the banking industry for 30 and 40 years. Honorees are recognized throughout the year or at a special ceremony during the WBA Management Conference in September. Visit wisbank.com/ serviceawards to have an individual from your bank recognized.

On January 11, WBA President and CEO Rose Oswald Poels honored two bankers at Farmers & Merchants State Bank, Waterloo for their lifetime of service to the banking industry. Pictured (left to right) are: Oswald Poels; Laurie Frey, vice president – operations (46 years); Pamela Davison, universal banker 2 (44 years); and Farmers & Merchants State Bank President and CEO Bill Campbell

Kittelson

Domino

Bruins

Flores

McCloud Jereczek Omdahl

Albers

Flannery Lemke

Bulletin Board

News about people working in Wisconsin’s financial institutions

Promotions and New Hires (continued from p. 16)

Oregon

One Community Bank is proud to welcome Melinda Gnorski (pictured) as the vice president – commercial credit underwriting.

Platteville

Mound City Bank is pleased to announce the promotion of Todd Michek (pictured) to vice president retail lending. Additionally, Joanna Richter (pictured) has joined the bank as loan operations supervisor.

Sun Prairie Bank of Sun Prairie’s Christopher Cox (pictured) has been named senior vice president, chief business banking officer.

Waukesha

Waukesha State Bank has hired L. Wesley MCKenzie III

commercial banking officer.

Retirements

Fond du Lac

Congratulations to Constance Fechhelm (pictured), who retired after 23 years of service to National Exchange Bank & Trust on December 31, 2022.

Luxemburg Bank of Luxemburg congratulates John Kaye,

retiring as financial advisor after 17 years of service; Lisa Wessel, retiring as financial systems analyst after 33 years; and Denise Kinjerski, retiring as senior vice president –human resources after 43 years for their long-standing commitment to the financial services industry.

Platteville

Mound City Bank congratulates Patti Cullen (pictured),

SNBT Donation to Help Fund Crivitz Performing Arts Theatre

assistant vice president –internal auditor on her retirement following 43 years with the bank.

Schofield

Intercity State Bank congratulates Julie Jacobson (pictured), assistant vice president – home loan specialist, on her retirement following 20 years with the bank. Intercity also congratulates Diane Poulos, vice president on her retirement following 41 years with the bank.

Congratulations

Altoona

Minnesota-based WNB Financial is pleased to announce Katie Behrendt (pictured), mortgage loan officer, as the recipient of its 2022 fourth quarter Community PRIDE Award.

Mohr Honored with WBA Lifetime Service Award

The Stephenson National Bank & Trust (SNBT), Marinette, has donated $10,000 toward the $200,000 goal of building a permanent performing arts bandshell in Crivitz Community Veterans Park. The effort is the vision of several dedicated groups, led by the Operation Bandshell Committee, in conjunction with the Village of Crivitz and

On December 2, WBA President and CEO Rose Oswald Poels presented a WBA Lifetime Service Award to Mark Mohr of Bank Five Nine, Oconomowoc. Mohr has held various roles in the banking industry for 43 years, with the last 15 years serving as president and CEO at Bank Five Nine. Mohr will retire in early 2023.

Looking

Crivitz Business Association.

Pictured (left to right) are: Jess Magerowski and Elisa Rollo of SNBT; Bob Berndt, former band director in Crivitz and superintendent of Beecher-Dunbar-Pembine Schools; and John Deschane, Operation Bandshell Committee chair.

Richter

Jacobson

MCKenzie III Behrendt

Gnorski

Cullen

Cox

(pictured) as assistant vice president –

Michek

Fechhelm

EDUCATION Calendar

MARCH 2023

•Call Report Review & Update Workshop

1–2 Virtual half-days; $245/attendee

•Advanced IRA Workshops

7 Madison or virtual; $245/attendee

•Health Savings Accounts Workshops

8 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

•WBA/ABA Washington Summit

20–23 Washington, D.C.

•Security Officer Workshops

22 Wisconsin Dells or virtual; $245/attendee

APRIL 2023

•Principles of Banking Course

5–6 Fond du Lac; $550/attendee

12–13 Mineral Point; $550/attendee

•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

•FinTech Showcase

17 Wisconsin Dells

•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)

•Capitol Day

26 Madison

MAY 2023

•American Mortgage Conference

1–3 South Carolina

•Personal Banker School

2–3 Wausau; $495/attendee

•HR Conference

4 Stevens Point; $245/attendee

•School of Bank Management

8–12 Madison; $1,395/attendee

•BSA/AML Conference

10–11 Wisconsin Dells; $450/attendee

•WBA/ICBA Capital Summit

14–17 Washington, D.C.

•CFO Conference

17 Madison; $245/attendee

•Directors Summit

18 Madison; $225/attendee

•Principles of Banking Course

23–24 Wausau; $550/attendee

•Trust Conference

25 Madison; $245/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 varies)

AUGUST 2023

•Agricultural Lending School

22–24 Madison; $895/attendee (an optional workshop is available the day before the school starts)

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

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

Conferences I Summits Schools I Boot Camps Seminars I Workshops WBA Webinars Other Events

Human Resources and CFO Conferences Return in 2023

Two events dedicated to professional development, networking

Each year, the Wisconsin Bankers Association (WBA) offers hundreds of educational opportunities for bankers. From schools and training programs held in the Engagement Center at the WBA headquarters in Madison to conferences across the state, the Association’s mission to provide professional development opportunities and resources to every member bank, regardless of their position, are abundant. As such, the Association is excited to revive two professional conferences in 2023!

H UMAN R ESOURCES

conference

As more businesses across Wisconsin struggle with engaging, retaining, and attracting employees, WBA’s Human Resources (HR) Conference will tackle the topics many HR professionals in Wisconsin’s banking industry have at the top of mind.

Last held in 2020, this year’s event will bring together Wisconsin community banking HR professionals on May 4 in Stevens Point. Attendees will have the opportunity to hear from several speakers; receive an update related on the everchanging landscape of the workplace and employment law; as well as network with their peers throughout the one-day event.

“With banks across Wisconsin facing more challenges setting themselves apart from other employment options, our Association wants to ensure our WBA members are equipped with the best practices and industry trends, all while having the opportunity to network with their peers,” stated WBA Director

–Education Lori Kalscheuer

This year’s HR Conference speakers include Julia Johnson, Wipfli LLP; Jennifer Mirus, Boardman & Clark LLP; Jackie Rolow, SHAZAM; and Jasmine Brett Stringer, awardwinning author and keynote speaker. To learn more about this upcoming conference in May or register, please visit wisbank.com/HRConference

Wipfli LLP is a WBA Silver Associate Member; Boardman & Clark LLP is a WBA Bronze Associate Member; and SHAZAM is a WBA Bronze Associate Member

C HIEF F INANCIAL O FFICER conference

WBA is excited to once again invite bankers to join us on May 17 in Madison for the Chief Financial Officer (CFO) Conference.

This one-day program, last held in 2018, will assist those bankers who make financial decisions throughout the bank — including, but not limited to, CFOs, CEOs, and controllers — stay up to date on the current and potential future issues affecting the financial health of their institution.

“As the last several years have proven, banks in Wisconsin are prepared to weather whatever economic conditions are thrown their way,” said WBA Director – Education Lori Kalscheuer. “The WBA CFO Conference will provide a day packed with valuable educational presentations from industry thought leaders, helping our members position themselves for a successful future.”

If you or your team are interested in attending the CFO Conference or learning more, please visit wisbank.com/CFO

Looking for more education and professional development opportunities this spring? WBA has a variety of events — including webinars, schools, and summits — coming up! Visit wisbank.com/ education or contact the WBA education team at wbaeducation@ wisbank.com to see what programs interest you!

Trust Professionals Reconvene in Madison This Spring

On May 25, 2023, WBA will once again host its annual Trust Conference at the Wisconsin Bankers Association (WBA) headquarters in Madison. The one-day event, designed specifically to aid trust officers, wealth managers, and trust administrators in enhancing their operations, will provide attendees with the resources to utilize in their adoption of various changes in regulations, the economy, and overall trust department functions.

In addition to various networking opportunities, the

conference will feature several topics critical to those involved with trust and estate planning.

Victor Schultz, president and chief fiduciary officer at Prairie Trust, will provide attendees with an update on the Trust Code and Trailer Bill. This presentation will cover all the improvements, fixes, and benefits of this bill, designed to update Wisconsin’s Trust Code.

to hear from Mike Burke of SHAZAM regarding the importance of recognizing elder financial abuse throughout the institution.

As fraudsters

in order to take advantage of this opportunity to stay ahead of upcoming regulatory changes, earn continuing education credits, and gain insight on how to better serve their communities.

Schultz

Burke become more sophisticated, it is important that bankers know the signs, understand their rights, and feel confident in approaching the situation.

Trust professionals will also have the opportunity

Bankers are encouraged to register for the upcoming event at wisbank.com/Trust

Questions regarding this year’s event can be directed to Miranda Gustafson, WBA assistant director –education, at wbaeducation@ wisbank.com

SHAZAM is a WBA Bronze Associate Member.

Fintech

(continued from p. 1)

important for younger generations to make transactions.

Already, over 1,200 banks around the country, including over 50 in Wisconsin, have begun integrating Zelle — a digital payments service offered by the FinTech provider Early Warning Services, LLC — to help meet the expectations of their customers. However, as banks continue to compete for deposits and new loans, innovation beyond incorporating P2P payments into their online services may become a necessity.

» Interested in developing a partnership with a FinTech provider? Learn more about WBA’s upcoming FinTech Showcase on p. 7.

» What is Embedded FinTech?

Virginia Heyburn, director – research, insights, & advocacy at Engage fi and recent keynote speaker at the Wisconsin Bankers Association’s (WBA) 2023 Bank Executives Conference, describes embedded FinTech as a strategy by which traditional banks own the experience and work to build FinTech functionality into their own digital banking experiences. This is comparable to the Banking as a Platform, or BaaP, model that banks may utilize to integrate FinTech solutions into their existing offerings.

Did You Know?

» I expect nearly every bank to pursue embedded FinTech strategies within five years.

— Virginia Heyburn Engage fi director – research, insights, & advocacy

Embedded FinTech emphasizes the bank’s possession of the brand, by way of providing the service on their own platform, and the augmentation of FinTech functionality behind the scenes. This process allows banks to strengthen their own offerings, increase customer engagement, and build loyalty rather than provide services to outside users, as is the case with embedded finance or Banking as a Service (BaaS).

» What Embedded Fintech Means for Banks

Although 95.5% of all U.S. households were banked in 2021, according to the FDIC’s survey, Heyburn states that it is important that banks continue to deepen their relationships with their retail and commercial customers and offer features that are valuable to them.

By integrating property management capabilities into digital portals for landlords, disbursements for commercial clients, or intelligent budgeting and savings tools for retail customers — banks have the ability, through a partnership with a FinTech servicer, to provide an even greater number of tools and resources for consumers.

Wisconsin Banker occasionally prints informative articles submitted by Gold, Silver, and Bronze WBA Associate Members. Interested in sharing your expertise? Please contact WBA’s Nick Loppnow at 608-441-1259 or nloppnow@wisbank.com or email sales@wisbank.com for more information about purchasing Sponsored Content space in WBA’s electronic publications.

As the banking industry evolves faster than ever before, embedding FinTech into their online services will not only allow banks greater flexibility in the products offered, but provide the opportunity for banks to increase their technological capabilities. Early Warning Services, LLC, the FinTech provider of Zelle, highlights that these valuable partnerships permit banks to utilize technology to consider new ways to attract and engage customers, including crossselling and engagement with the banking app, as well as reduce costs in other areas such as cash and check management.

“I expect nearly every bank to pursue embedded FinTech strategies within five years,” Heyburn states.

» The Challenges

While embracing FinTech solutions may be the next step for a bank, Heyburn says that legacy technology has always made the interoperability of systems challenging. Between delays, a strong reliance on core vendors, and inconsistencies, there are a number of factors to consider when strategizing a frictionless exchange of any internal or external system.

With mobile and online banking being the primary way many consumers interact with their bank, it is critical that banks not only have the personalized products individuals expect, but also can deliver information efficiently.

“Customers are no longer willing to tolerate delays and defects in the FinTech era

— they are voting with their fingertips as they choose online banks that offer the speed, ease, and convenience they want,” states Heyburn. “The cost of doing nothing has never exceeded the cost of making a change — until now”

As Forbes published in a recent article entitled Digital Transformation in Banking, in order to rapidly and costeffectively design, create, plug in, and deploy new digital products and services, the bank’s digital product platform must be component-based, API-driven, and cloud native.

» The Benefits

While less than 60% of all financial institutions currently deploy APIs or cloud computing, according to Forbes, many understand this conversion as a solution to meeting customer needs and expectations. In addition to allowing consumers the ability to connect their accounts across platforms, engaging with FinTech servicers will provide many banks with the ability to simplify their technology — which in many cases, may be limiting an institution's ability to roll out new competitive features or service offerings — as well as save on maintenance costs that limit the ability to compete on service price, according to PwC.

By incorporating an open banking system into their digital offerings, banks are able to balance safety and security with the expectations of all consumers. As the industry continues to evolve, and greater emphasis is placed on increasing competition in the marketplace, driving financial inclusion, and creating more consumer choice, partnerships between banks and FinTech providers have the potential to assist banks in not only improving their technological capabilities, but also more effectively serving their customers.

Flanders is WBA writer/editor.

Bankers Continue Their Education, Remain Compliant

Stand-alone BSA/AML conference returns on May 10–11!

Back again in 2023 as its own conference, the Wisconsin Bankers Association is excited to offer its BSA/ AML Conference in person at the Chula Vista Resort in Wisconsin Dells this spring!

In order to maintain the credentials required for managing, auditing, or implementing the portion of their institution’s compliance function that relates to money laundering, terrorist financing, or national security, banks are required to provide on going training for those responsible for BSA and AML compliance.

The WBA BSA/AML Conference provides bankers with the opportunity to hear and interact with regulators —

at both the state and federal functional regulatory agencies — and gain instruction in BSA/AML compliance issues. While the conference curriculum changes each year, bankers return year after year to ensure they remain up to date on issues, topics, and guidance related to their compliance responsibility.

The two-day event will cover topics including:

» AML Software Identifications, & Proposals, Payments, and Compliance Update

» SAR Trends and Updates

» Keys to Completing the SAR Narrative

» Elder/Vulnerable Adult Exploitation

» AMLA Update

» Beneficial Ownership Identification Reporting (BOIR)

In addition to the various networking opportunities WBA events are known for, attendees will receive two full days of instruction from speaker Mark Dever of ProBank Austin and Nick Bonnema of Wipfli LLP.

“In this rapidly changing BSA environment, attendees will get the latest status on a variety of topics and issues that are evolving, along with feedback and guidance from the examiners, and of course, the opportunity to network with their peers,” highlights Dever. “Attendees

can make the most out of their attendance by coming armed with questions on BSA, and the willingness to actively participate in the various sessions.”

Those interested in attending the event on May 10–11 should visit wisbank.com/BSA-AML to learn more or to register.

Wipfli LLP is a WBA Silver Associate Member.

WBF and GSB Scholarships Available this Spring

WBF Spring Scholarships

As part of its mission to promote financial literacy and capability throughout the state, the Wisconsin Bankers Foundation (WBF) offers students the opportunity to demonstrate their financial literacy and apply for one of four (4) $2,000 scholarships. The application period for the 2023 Spring Scholarships is open through Wednesday, March 15! Qualifying individuals need to be currently enrolled

» Apply for a WBF scholarship at wisbankfoundation.org/ spring-scholarships

in, or planning to attend, an accredited Wisconsin institution. A career goal within the financial services is not a requirement, but strongly encouraged for all applicants!

Bankers are encouraged to widely share this information with local educators, staff, interns, and other qualifying individuals. Please submit applications for the 2023 scholarship at wisbank foundation.org/springscholarships

Please contact Hannah Flanders, Foundation coordinator, at hflanders@ wisbank.com with any questions regarding WBF scholarship opportunities.

The Prochnow Educational Foundation/Wisconsin Bankers Association Scholarship

Led by the Graduate School of Banking’s (GSB) talented and knowledgeable faculty, the 25-month program is held in two-week sessions over three summers and features a comprehensive core of relevant bank leadership courses across all areas of banking — finance, technology, marketing, management, and more. A wide range of electives allows participants to tailor their educational program. The curriculum is enhanced by FiSim, GSB’s robust bank management simulation, and in-depth intersession assignments that allow students

» Apply for a scholarship to use toward tuition fees at the GSB at wisbank.com/gsb-scholarships.

to use learned concepts to improve their own institutions, adding relevance and value.

WBA and the Prochnow Educational Foundation are offering WBA members the opportunity to apply for a $1,500 scholarship for each year of the student’s attendance (approximately 1/3 of the annual tuition fees) for a total value of $4,500.

Track Your Education Efforts During Financial Literacy Month

Each year, bankers throughout Wisconsin go above and beyond in their mission to provide financial education for their communities. As April marks an important month for financial education — including Financial Literacy Month and Teach Children to Save Day on April 27 —

bankers are invited to track their activities as they go by submitting their financial education-related events and presentations to the Wisconsin Bankers Foundation (WBF).

The summary forms — for tracking individual and bank-wide efforts in improving financial literacy and capability

— represent all activities that take place between June 1, 2022 to May 31, 2023.

Banker participation in submitting the annual summary forms assist the Foundation in better understanding the financial education activities of banks throughout the state and curating materials for banker

The application period for those starting GSB in August is now open through April 7! Apply at wisbank.com/gsbscholarships use. These shared activities are then compiled for recognition. Visit wisbankfoundation.org/ financial-education-awards to access the 2022–23 forms. Contact Hannah Flanders at hflanders@wisbank.com if you have questions regarding the forms or your bank’s participation in this year’s events.

WBA’s committees and advisory boards help shape the industry by supplying fresh ideas, expert insight, and valuable networking connections

to key decisions the Association is involved with.

If you have a desire to influence your industry’s future, consider lending your

experience on one of the committees listed below, and find out for yourself how much you can impact Wisconsin’s financial

services industry.

To volunteer, please fill out the committee nomination form found at www.wisbank. com/community/get-involved.

Go Digital on a Budget

How to kick off your digital strategy with a low (or no) budget

By Grace Bruins

When digital marketing options are endless, marketers are left wondering “where do I even start?” (And bank marketers are left wondering “where am I even allowed to start?”) Add in shrinking budgets in preparation for a recession, and it would be easy to throw in the towel on digital and make it 2024’s problem.

Let me encourage you, friends — don’t give in. Even with a low (or no) budget, you can kick off your digital strategy today. Here’s how to start:

Claim Your Bank on Google

Create a Google My Business account and set up a profile for your branch(es). This allows you to own your profile on Google and optimize it for future searches. Which brings me to…

Ask for Reviews

Did you know people are two to three times more likely to leave a negative review than a positive one? But I’d be willing to bet you have two to three times more happy customers than unhappy ones. So, ask.

Strategic Connections

Grace Bruins

When a customer has a great experience, or tells you in person: “I love this bank,” take a minute to ask if they’d be willing to leave a Google review. This may feel like a vanity metric at first, but Google will organically serve up those businesses that are more highly rated on their platform than those that aren’t. (And if you’ve ever Googled anything before, you know the importance of appearing highest in the search results.)

Make a Habit of Responding to Reviews

Good or bad — engage with the people taking a few minutes to talk about you. Google ranks those businesses that engage on their platform higher in searches than those that don’t.

Want to take it one step further? Add in key search terms to your responses. Of course, you want your responses to be authentic, so #checking #account may not be the way to go. But responding with:

“Thanks for stopping in our branch in [your city name]! Our team works hard to provide the best customer service possible and we’re proud to be your community bank! If you ever need us, don’t hesitate to call [your bank’s phone number]. We’re here to help!” can be genuine, helpful, and includes a few key terms your prospects may use in the future to find you.

Create Relevant Content

Creating content has become status quo — so much so that we may begin to overlook it as a marketing strategy. But if you can show off your expertise and make it your goal to become the single best resource in your field, people will pay attention. (I wish I could say they will pay attention right away, but they

probably won’t.) Don’t let that discourage you, friends. Keep at it. Content compounds in a way that other marketing channels can’t.

Lastly, Don’t Forget to Engage

It’s called social media for a reason. Tag local businesses in your area, congratulate people in your community when they accomplish great things, and use hashtags to be included in the conversation. Bring that sense of community customers feel walking into your branch to the online experience.

Friends, let’s not wait for 2024. You can start your digital strategy today. Just remember to be consistent and be present; keep putting out quality content and engaging with your fans and you’ll bring that sense of community you work hard to create in person to your online audience in no time.

Bruins is assistant vice president

marketing officer at Horicon Bank and member of the 2022–2023 WBA Marketing Committee. Visit wisbank.com/community/ get-involved to learn more about WBA Committees.

Cybersecurity (continued from p. 1)

it is critical for the success of banks across the country that they establish a culture of cybersecurity.

In the American Bankers Association’s (ABA) Banking Risk and Compliance Management Outlook for 2023, surveyed bankers identified cybersecurity and IT risk to be, overwhelmingly, the top risk priority for the 18 months ahead. With the use of online banking and digital payments skyrocketing, and employee negligence being cited as one

Cybersecurity is a team endeavor, not just an IT or a management one.

— Rob Foxx FIPCO director – InfoSec and IT audit services

of the top reasons banks are put at risk — PointProof’s survey highlights that around 27% of employees believe that their organization/IT department will take care of any mistakes. However, as the cost of cybercrime continues to become more expensive for impacted organizations each year, finding ways to educate both consumers and employees of the cyber risks they face will not only help protect information from being compromised, but save banks from contributing to the astounding losses reported by financial institutions each year.

The Federal Bureau of Investigation’s (FBI) Internet Crime Report highlights that in 2021, Wisconsin totaled over $51,800,000 in victim losses. By taking proactive steps in both their cybersecurity protocols and training, banks throughout the state will have the opportunity to save the organization, and their customers, from substantial loss.

Embracing a Culture of

While banks make strides to incorporate risk mitigation — such as integrating multifactor authentication (MFA), a bare minimum in preventing bad actors from gaining access to accounts with greater privileges, and following regularly updated guidance from the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (OCC) — into their procedures, those seeking to optimize their efforts are looking beyond their IT staff for assistance.

Team Effort

Establishing a culture that embraces cybersecurity begins from the top and requires uniting members throughout various departments. According to Marsh McLennan, a leading professional services firm in risk, strategy, and people, “a robust cybersecurity culture starts from the top of the organization and involves continuous communication and training for leaders across all key functions.”

The firm highlights that, as of 2019, nearly 90% of all organizations only included InfoSec/IT, C-suite, risk management, legal, and finance professionals in the management of cyber risk.

“Cyber defense is a team endeavor, not just an IT or a management one,” emphasizes Rob Foxx, director – InfoSec and IT audit services at FIPCO. “Threats apply to all parts of an enterprise, as should defense.”

The Cybersecurity and Infrastructure Security Agency (CISA) highlights that HR professionals play an integral role in detecting, deterring, and mitigating threats by screening candidates prior to employment, managing secure information, and regularly communicating policies.

When HR professionals have a seat at the cyber risk management table, banks not only gain a risk-conscious ally, but also ensure that HR professionals throughout their organization have a strong understanding of the cyber risk policy they utilize in their own day-to-day operations. Additionally, ensuring that the HR team is abreast of the latest cyber risks and mitigation procedures is critical so that said information can be communicated with all staff members.

Playing a Part in Protection

As the U.S. financial sector continues to prioritize cybersecurity — regularly spending up to $3,000 per employee on ongoing cybersecurity education, according to the McAfee report — ensuring that every employee is making the most

Given the close ties to all staff members, HR can play an important role in clarifying policy, providing resources, and working behind the scenes to recognize and anticipate the potential information security issues.

— Society for Human Resource Management (SHRM)

of their training, testing, or coaching and remains vigilant against all threats to the organization is critical for the safety and security the institution and its customers.

» The Employee Lifecycle

Of course, HR plays a substantial role in the onboarding and offboarding process to evaluate the quality of incoming employees and ensure that all former staff are no longer granted access to confidential company data upon their departure. Furthermore, given the close ties to all staff members, HR can play an important role in clarifying policy, providing resources, and working behind the scenes to recognize and anticipate the potential information security issues, highlights the Society for Human Resource Management (SHRM).

» Training

Although cyberattacks continue to cause headaches for businesses across the country, only 64% utilize organization-wide training, according to ProofPoint’s 2022 survey. Training, which is usually administered by the IT department or virtually, has the potential to be strengthened by HR’s involvement. In taking a human-centric approach that emphasizes how all staff members — administrative

WBA is Accepting Nominations for the Wall of Excellence

An opportunity to honor Wisconsin’s excellent bankers

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 with two celebrations being held in 2021 and one in 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

Staff Change?

Address Change?

Please Let WBA Know

Cybersecurity

(continued from p. 24) through executive leadership — play a role in the security of the institution, employee morale is heightened.

Additionally, HR can emphasize and enforce the importance of practicing good cyber habits and encouraging training from the start because of the department’s close connection to all bank staff. HR staff will also notice if staff don’t attend training, regularly fail simulated tests, or display non-compliance with cyber protocols. From there, action can be elevated beyond coaching from IT staff or managers.

“A significant amount of malware is fileless and exists

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 fourthyear 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.

To nominate a banker as a Leader in Banking Excellence please visit wisbankcom/ excellence and complete the nomination form by May 12, 2023.

WBA Leaders in Banking Excellence, 2020–2022:

Paul C. Adamski • Jon Bernander

James K. Caldwell • James S. Dolister • The Eager Family •

Thomas F. Farrell • Robert Gorsuch

• Robert J. Just, Jr. • John F. (Jack) Kundert • Debra R. Lins •

E.David Locke • Richard (Dick)

Pamperin • John K. Reinke •

Lee J. Schmalz • Steven R. Schowalter • Frederick F. Schwertfeger

• Jerry Smith • Mary L. Staudenmaier • John Godfrey Thomson

• Thomas M. Tubbs • James B. Wigdale • Merlin Zitzner

Getting information to the right person quickly is critical in these challenging times. Has there been a personnel change at your bank, or are WBA’s mailings targeted to the wrong staff?

Send your address corrections and/or additions to our database administrator, WBA’s Assistant Director – Information Technology Randy Molepske, at requests@wisbank.com or 608-441-1212

only in the active memory of a computer,” highlights Foxx. “While the next generation of antivirus has the ability to detect more activity than older versions, fileless attacks are just the beginning, and these tools can now detect abnormal user, host, and network activity. Ensuring your team is on the same page is a critical component in mitigating these attacks.”

» Coordinating Cybersecurity Requirements

In partnership with the IT department, HR should ensure that there are well-documented policies, standards, and best practices for not only averting attacks or breaches, but also for reporting attempted or successful cybercrimes.

Throughout their day-to-day tasks, HR professionals are expected to adhere to the organization’s procedures and guidelines as well as communicate this information with staff. Understanding the various protocols, exploits, tools, and resources fraudsters utilize can help members of HR in assisting their staff to build confidence in mitigating a cyber risk. At the very least, Foxx adds, bankers should adhere to cyber security frameworks such as the NIST Cybersecurity Framework or ISO 27001 certifications, which assist organizations in gaining direction and highlighting areas of need.

As more aspects of our daily lives digitalize, and cybercrime and attacks become

a regular and unfortunate normality across the banking industry, the need to secure sensitive data has become a widespread effort. It is critical that leaders look throughout their staff for unique perspectives and opportunities to educate. Establishing a culture of cybersecurity could be the difference between a secure and a compromised institution.

Flanders is WBA writer/editor.

FIPCO is a WBA subsidiary and a WBA Gold Associate Member.

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

Artificial Intelligence in Banking

Automate your call center calls with interface-ai’s AI-powered phone system

interface.ai was founded with the mission to help every financial institution efficiently scale and help their customers achieve financial wellness using artificial intelligence (AI). Srinivas Njay, founder and CEO of interface.ai, understands that the success of an institution lies not only in the services provided, but in the experiences of employees and customers alike.

Stepping into the future, with the help of AI, interface.ai’s assistants automate many services that the bank is already offering. From phone banking to debt collection, banks are able to rely on up to 60 omni-channel solutions that support operations and enhance experiences. Along with this, customers would benefit from “smart” assistants whose

focus is simplifying discovery and transaction experience through conversation.

Banks will also be one of the first to combat hiring and retention while also providing added assistance to their frontline staff. Although interface.ai’s intelligent virtual assistant (IVA) is able to answer frequently asked questions 24/7 and relieves staff to offer greater support to specific inquiries and improve productivity. Products provided by interface.ai are designed to enable banks to operate with high efficiency even during testing circumstances.

As AI becomes increasingly

popular, there is no doubt bankers have concerns about how AI technology will impact their business. While AI allows continuous access to bank functions to customers no matter the time of day, interface.ai still encourages banks to be cautious when approaching AI technology. As many vendors may compromise aspects such as maintenance and authentication for their own ROI — interface. ai, however — prides itself on helping banks offer the best customer service, highest safety standards, guaranteed ROI, as well as ongoing support and maintenance.

Security requirements and compliance laws are a top priority in ensuring that the solutions provided to banks are certified, follow appropriate guidelines, are protected and

backed up at two different levels, and are audit logged. Along with this, all maintenance — including setup, ongoing AI training, support, and any new system integrations — are at no additional cost to the bank. interface.ai firmly believes that AI will be the solution to an improvement in customer and employee experience, efficiency, and revenue throughout the banking industry and wants to allow access to banks of all sizes to experience and profit from the future’s technology.

To learn more about the solutions interface.ai offers, visit interface.ai or email Srinivas Njay at srinivas@ interface.ai

interface.ai is a WBA associate member.

» Learn more… Contact FIPCO Sales at fipcosales@fipco.com

Cyber Security, Management Consulting, IT, and Community Bank Services Available for WBA Members

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

Bedel Security

bedelsecurity.com

Contact: Laura Zeck Greensburg, Ind. Tel: 833-297-7681, ext. 701 laura@bedelsecurity.com

Bedel Security believes community banking is critical to the economy, as well as the families and businesses they serve. They also believe that information security is important to the well-being of community banks, and that each one should have an independent, qualified, CISO guiding them, regardless of their size, geography, or current job market. That’s why Bedel Security created their virtual CISO services and help banks nationwide with: Governance, Incident Response Planning & Preparation, Risk Management, Monitoring Oversight, Policies, Vendor Management, Board Cyber Awareness, User Testing & Training, Business Continuity, Audit & Exam Preparation, ID Theft & Red Flags, and IT Change Management.

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

CCG Catalyst Consulting

ccg-catalyst.com

Contact: Paul Schaus Phoenix, Ariz.

Tel: 623-536-6900

paulschaus@ccg-catalyst.com

CCG Catalyst Consulting is a management consulting firm specialized in banking and FinTech. CCG Catalyst Consulting connects strategy to implementation and provide a broad range of services in strategy development, core migration, digital transformation, payments, BaaS, technology evaluation, and contract negotiations. As an industry leader, CCG Catalyst Consulting brings continuous industry knowledge to support their clients, improve their performance, and create lasting value across organizations.

Glia glia.com

Contact: Elysia Hernandez New York, N.Y. Tel: 480-788-3768 conferences@glia.com

Glia is reinventing how businesses support their customers in a digital world. Glia’s solution enriches web and mobile experiences with digital communication choices, on-screen collaboration and AI-enabled assistance. Glia

has partnered with more than 350 banks, credit unions, insurance companies and other financial institutions across the globe to improve top and bottom-line results through Digital Customer Service. The company has raised over $100 million in funding from top investors. To learn more visit glia.com.

IT Resource

itrw.net

Contact: Jessica Slendak Coopersville, Mich. Tel: 616-837-6930

jessicas@itrw.net

IT Resource is not just IT consultants — they are your partner. IT Resource delivers technology solutions that simplify IT environments, improve productivity, and reduce costs, allowing you to focus on your business, not IT

IT Resource offers your bank solutions to: Business Continuity & Disaster Recovery, Cloud Services, Collaboration, Intuitive Managed Support, Network Infrastructure, Security & Compliance, Managed Compliance & Risk, and vCIO Services.

IT Resource serves customers throughout the Midwest, with a majority located in Michigan, Indiana, Ohio, Illinois, and Wisconsin.

Optimal Blue

optimalblue.com

Contact: Caryn Wiggins Jacksonville, Fla. 32204 Tel: 904-307-6803

Caryn.Wiggins@bkfs.com

Optimal Blue supports the industry’s largest network for secondary market buyers and sellers on its premier Marketplace Platform.

Capabilities include product, pricing and eligibility, hedge analytics, loan trading, MSR valuation, social media monitoring and publishing, and counterparty oversight.

The Saturn Partners, Inc. saturnpartners.com

Contact: Carole Crawford Pleasant Prairie, Wis. Tel: 312-961-9469

Carole@saturnpartners.com

The Saturn Partners, Inc. conducts state of the art penetration testing services for smaller banks in Wisconsin and Illinois, focusing on this under-served market, along with in depth compliance consulting, and cyber security audit prep at various levels including GLBA.

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

WBA Associate Member Program

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. 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.

Helping Ag Bankers Stay Ahead of Industry Challenges

Across Wisconsin, agricultural bankers are seeing monumental changes both throughout the banking industry and within the farming communities they serve. To assist bankers in preparing for the many conversations beyond the traditional discussions of financing, the Wisconsin Bankers Association’s (WBA) Agricultural Bankers Section is excited to announce the WBA Agricultural Bankers Conference this spring!

Each year, more than 125 ag bankers from across the state come together for the two-day event featuring over seven hours of presentations, the opportunity to network with peers, and exhibitors offering

products and services geared specifically at ag banking.

The 2023 conference will kick off on April 13 with an update from Eric Snodgrass of Nutrien Ag Solutions. Snodgrass, a science fellow and principal atmospheric scientist, will provide a weather update that focuses on how high-impact weather events influence global agriculture productivity. His current research uses machine learning to better understand field-level weather impacts on yields in the U.S. and to increase confidence in longrange weather prediction.

Throughout the first day, ag bankers will have the chance to network with peers from

A regular at WBA events, Dr. David Kohl will share his expertise and offer valuable resources to ag bankers looking to make the most of the unique challenges and opportunities within the agricultural industry.

across the state and hear from several other speakers Leonard Polzin from the University of Wisconsin-Madison and Edwin Elfmann of the American Bankers Association (ABA).

The following day, April 14, attendees will reconvene for a keynote session by Dr. David Kohl, professor emeritus at Virginia Tech Department of Agricultural and Applied Economics.

During his engaging presentation, ag bankers will gain strategies and actions to utilize in positioning their local agricultural businesses to take advantage of opportunities and negate adversity. Dr. Kohl highlights that a few key takeaways from his presentation include the business IQ assessment, financial ratio benchmarking tools, and non-financial factors that bankers can apply as they work with their customers.

Following the keynote, Dr. Kohl will hold a Q&A session to provide attendees with insight, best practices, and outlooks for the upcoming year ahead.

“In this fast-paced world, I encourage agricultural bankers to attend this year’s WBA Agricultural Banking Conference to be informed, network, and learn strategies that can help them take action,” says Dr. Kohl. “The current environment of volatility, higher interest rates, and inflation mean that bankers need to be prepared to work side by side with their borrowers to assess risk and help ensure adequate liquidity to weather adversity.”

Interested in attending and joining ag bankers from across the state this April 13–14? Visit wisbank.com/ag to learn more and register today!

BANKERS

Engaging with Your Association WBA offering numerous opportunities to get involved this spring

By Daryll J. Lund

As the Wisconsin Bankers Association (WBA) quickly approaches the final months of its 2022–2023 fiscal year, I am reminded of the inauguration of Dan Peterson, president and CEO of Marinette’s The Stephenson National Bank & Trust, as our Association’s chair. With an objective to increase membership engagement in the year ahead, it is extremely rewarding to look back upon all our Association has done together since June 2022.

Enhancing member engagement as part of the WBA strategic plan is focused on increasing banker participation in WBA training events including the utilization of the Engagement Center located

at the WBA headquarters in Madison, the WBA Legal Call program, WBA fundraising efforts including the Gold Triangle and Bankers Involved in Grassroots and Government (BIGG) awards, as well as utilization of other Association and subsidiary services.

As we approach the final stretch of the 2022–2023 fiscal year, I am certain that bankers will find even more ways to engage with WBA.

This spring, WBA kicks off its busy season with various

professional conferences and schools aimed at providing WBA members with the knowledge, resources, and connections to continue their success. Ranging from CFOs to HR and IT professionals and all the way to the frontline staff — our Association prides itself on the breadth of opportunities in store for every member of the bank.

In addition, bankers looking to make a mark on their communities and industry will be out at full strength assisting the WBA in keeping our elected leaders informed at this spring’s advocacy events — including WBA Capitol Day on April 26 and two upcoming Washington, D.C. trips — as well as participating in activities related to Community Banking Month, Financial Literacy Month, the

» Learn more about WBA’s upcoming events on p.18

annual Power of Community Week, and National Teach Children to Save Day.

Of course, new chances to engage are always on the horizon with WBA. Whether you’re looking to volunteer as a committee member or help fundraise to shape public opinion on pro-banking, probusiness issues, it is up to you to choose how you will make the most of your membership, inspire professional development, educate your peers and community members, and engage with the Association! Lund is WBA executive vice president – chief of staff and president of EBC and MBIS.

Community Advocate Spotlight

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 Wolf River Community Bank, Hortonville President and CEO Joe Peikert. Read past interviews at wisbank.com

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

Joe: I graduated from UW-Platteville with a degree in finance and an accounting minor. I was hired as an internal auditor at a bank holding company that was headquartered in my hometown of Menomonee Falls.

Once I passed the CPA exam and joined KPMG Peat Marwick’s Milwaukee office, I thought I would be out of the banking industry. A few years later, I was back in banking with Fox Cities Bank in Neenah, and then Thrivent Financial Bank. I’ve lived in Hortonville since leaving the Milwaukee area, and 15 years ago, I ended up right in my “backyard” at Wolf River Community Bank.

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

Stating it simply — I love helping people. I’m so fortunate to have this role at a community bank where we live, go to church, send our kids to school, shop, etc.

I most enjoy helping each one of our employees grow their skills and careers. I like to teach and share with people the things I’ve learned over many years. That might be helping someone understand the complexities of interest rate risk management or developing the skills of our next generation of leaders at the bank. I also get the opportunity to help our customers navigate their financial needs.

I especially enjoy the variety of what I’m able to do on a daily basis. I might spend my lunch hour at our local library reading books to preschoolers, then in the evening, present our annual results at our stockholder meeting.

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

I believe that many people don’t really think all that much about where they bank. However, I wish more people understood that where they choose to bank makes a difference both to them and their community.

I have talked to friends and neighbors about where they bank, and they seem surprised when I share that I’d love for them to bank with us. I’ve seen a light go on when I explain to them that when they bank with a local community bank, not only are they getting remarkable service from people they know, but that banking local also helps our communities. The more support we

get from the communities, the more we are able to give back to the communities through volunteerism and donations to schools, clubs, service organizations, and the like.

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

As in all industries, our biggest challenge will be in keeping up with all the changes occurring. I read a quote recently that said “the rate of change we experienced in the last year has been the fastest in history. And it will never move this slowly again.”

Throughout the banking industry, we need to be sure to keep up with changes in technology. The time gap from one new technology to the next is getting shorter with each iteration. We need to make a commitment to stay current because our customers are going to expect it. While I truly believe that customers will always want to be able to walk into a physical location and meet in person with their banker, they will also expect to handle most of their regular financial transactions without doing so.

With the number of moving parts we face each day, including cybersecurity, cryptocurrency, economic uncertainty, regulatory reach, etc., our industry must keep an eye on each of these challenges so we can keep our customers safe and best serve their financial needs.

Finding and keeping great people will be a challenge as well. I recently spoke to a group of business students at our local high school and asked how many are thinking they’d like to have a career in banking. It is probably not a surprise that there were none. As bankers, we need to do a better job of telling our story on how rewarding a career in banking can be.

Please share 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.).

The one that comes to mind is a recent situation where I helped a customer who was the victim of a fraud.

I noticed that this customer, whom I know from church, was coming in the bank regularly over several days — which was unusual for him — and spending time on long transactions at the teller line. When I asked the tellers about the transactions, they said he was depositing a lot of old coins and asking how much was in his account. He told them he needed to get a certain

(continued on p. 31)

Rose Oswald Poels

Joe Peikert

HELP WANTED

Branch Manager

As the branch manager at State Bank of Reeseville, you’ll be in charge of directing our team of customer service representatives through some of the most exciting transformations and advancements in our history!

You’ll coordinate, direct, and assist employees to extend maximum customer satisfaction. You’ll be responsible for CSR training, and the development of personnel. Additionally, as a management position, you’ll provide leadership, direction, and guidance to employees in achieving various departments’ objectives. Of course, you’ll answer questions and solve problems posed by customers, but also by your colleagues and our team of customer service representatives. You also may have to handle disciplinary actions, when necessary You will also have the chance to bring forth your input on changes to our processes and implement best practices throughout our organization, you may be assigned special projects when needed.

Does this sound like you? If so, contact Jayne K. Adams, human resources director, for more information on the position and our organization. Additionally, further details regarding the application and employment process should be directed to jaynea@ statebankofreeseville.com

Business Banker

Frandsen Bank & Trust is seeking a business banker for the Eau Claire location and surrounding area. This position prospects for, underwrites, and closes secured and unsecured commercial loans in accordance with established lending objectives, policies, and procedures. In addition, the business banker establishes and manages positive business relationships with existing and prospective customers, by performing assigned duties and responsibilities.

As part of this position, the business

Visit

banker will support the lending staff in developing new and existing business relationships through key contacts within the local community to market the bank’s services with emphasis on commercial lending and other areas as designated; analyze individual loan documents to determine customers’ cash flow, ability to pay the loan, profit potential of the loan, etc. in order to minimize loan loss and maximize potential profit; support lending staff meet and interview applicants to determine creditworthiness, deny or grant each loan, secure required signatures, explains procedures or reasons for denial, and presents possible alternatives to those denied to maintain a favorable bank image; as well as support lending staff to monitors and collect past due loans in a manner which will minimize the bank’s loan losses while providing flexibility to customers and documentation of exceptions.

Minimum qualifications for this position include at least 5 years’ experience in lending, a bachelor’s degree or equivalent work experience, the ability to work independently, excellent organization and communication skills, and strong credit analysis and underwriting skills.

Please visit frandsencorporation. com/134446/business-banker to apply.

Chief Financial Officer Chief financial officer wanted for a fullservice community bank! Clare Bank has eight locations in southwest Wisconsin. Banking experience is preferred. This position is responsible for call report, investing, and working directly with auditors. Salary is dependent on experience.

Community Advocate (continued from p. 30) dollar amount in his account. They said he seemed confused and was also a bit evasive with them.

A day or so later, one of our lenders came to me and said this same customer wanted to take out a loan using his car as collateral — which also seemed very unusual for this customer. The lender and I agreed that when the customer came in, we would ask him about this sudden unusual change in his finances.

In that conversation we were eventually able to learn that he had fallen victim to one of the well-known elder scams in which he was to send money in order to secure a large “prize ” We were able to keep him from losing a lot of money and get family members involved to help him.

Oswald Poels is WBA president and CEO | ropoels@wisbank.com

608-441-1200

Please contact Deb McWilliams at deb@clarebank.com to view the full job description and apply today!

Mortgage Banker

Frandsen Bank & Trust is seeking a Mortgage Banker for our Eau Claire office. Candidates must understand secondary market loan programs and have sales and marketing experience. This person will be responsible for origination of secondary market loans and in-house portfolio market loans.

This position involves the origination of residential loan applications, including purchase, refinance, and construction loans. Qualified applicants must be able to develop and maintain relationships with key referral sources, such as realtors, builders, financial planners, attorneys, etc.

Minimum Qualifications include at least 3–5 years’ experience in lending and a bachelor’s degree or equivalent work experience.

This individual should have the ability to work independently, to develop and maintain relationships with key referral sources, excellent organization and communication skills, and strong credit analysis and underwriting skills.

Please visit frandsencorporation. com/index.php/133309/mortgagebanker to apply.

Vice President – Commercial Lender/Branch Manager

Waumandee State Bank is seeking a talented individual to fill the role of VP – commercial lender/branch manager at our branch location in Blair A successful applicant will be responsible for managing Blair branch staff and their day-to-day operations in both deposits and lending. In addition, the applicant will be responsible for maintaining a loan portfolio, promoting business development, and providing recommendations to meet bank-wide goals. Preference given to those with prior lending experience.

If interested in this position, you can pick up an application in person at any of our eight branch locations: Waumandee, Arcadia, Black River Falls, Blair, Durand, Fountain City, Mondovi, or Whitehall. You may also download our employment application at waumandeebank.com/ Career-Opportunities

Applicants may also apply on Indeed: indeed.com/cmp/WaumandeeState-Bank/jobs or send resumes and employment applications via traditional mail or e-mail to Jean Pronschinske, human resource officer, at jeanp@ waumandeebank.com or S2021 County Road U, Waumandee, WI 54622

WISCONSIN BANKER

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

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

Lake Ridge Bank, Monona

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.

WBA Mission Statement

Gearing Up for Power of Community Week, April 17–22 Providing service and support to Wisconsin communities

Every year, bankers, WBA Associate Members, and WBA staff look forward to getting out into their communities for a week that shows our collective impact in a meaningful way. While we know that the banking industry is committed to serving Wisconsin communities throughout the year, the WBA Power of Community Week is a major highlight that demonstrates to the public our ongoing commitment.

The 2023 WBA Power of Community Week will take place April 17–22, 2023 and will be followed by National Teach Children to Save Day on April 27, 2023. Activities in late April and early May still count toward a bank’s participation in the WBA Power of Community Week.

Examples of participation in the WBA Power of Community Week include volunteering at nursing homes, hosting shredding events at the bank, running a food drive, or giving financial literacy presentations in K–12 classrooms. For more ideas and inspiration, please visit

wisbank.com/BanksPowerWI to see photos from last year’s events. The website also includes an easy form to share your bank’s plans with WBA, so that they can be included on the interactive map showing the impact of the WBA Power of Community Week statewide.

A media kit is available on the website, which includes:

» The WBA Power of Community Week logo,

» a sample flyer for bank staff,

» a press release template, and

» social media sample posts and graphics.

Banks are encouraged to share photos, stories, and media coverage with WBA by emailing wbasocial@wisbank.com. WBA is also active on social media, so please use the hashtag #Banks PowerWI and tag @wisbank

We invite all members to participate in this effort to show how much Wisconsin’s banking industry supports the communities in our state.

We look forward to an exciting week of serving the communities we are proud to call home!

Advocate for Your Industry

Washington

both federal events to attend.

GET INVOLVED

APRIL 17–22, 2023

What is the WBA Power of Community Week?

The WBA Power of Community campaign brings our member bankers together to celebrate your commitment to the communities you serve. During the week, we encourage all bankers to engage in one or more community service activities.

Commit to participating online at wisbank.com/BanksPowerWI

Questions: Please contact WBA Staff at questions@wisbank.com or at 608-441-1200.

There is no registration fee for any of the three events. Attendees are responsible for their travel and hotel room charges during the events. Join WBA representatives and other Wisconsin bankers:

»March 20–22 — WBA/ABA Washington Summit, Washington, D.C. — aba.com/training-events/conferences/ washington-summit/registration

»April 26 — WBA Capitol Day, Madison wisbank.com/CapDay

» May 14–17 — WBA/ICBA Capital Summit, Washington, D.C. — icba.org/capitalsummit

Please contact WBA’s Rose Oswald Poels at ropoels@ wisbank.com, Daryll Lund at dlund@wisbank.com, or Lorenzo Cruz at lcruz@wisbank.com if you have questions or want more information about WBA Capitol Day or the Washington Summits.