July 2022 Wisconsin Banker

JULY 2022

WISCONSIN BANKERS ASSOCIATION

New WBA Chair

The Stephenson National Bank & Trust president in Marinette as assistant loan officer. and CEO addresses Peterson gained experience in all lending year’s priorities areas of the bank and

Dan Peterson

By Hannah Flanders This June, Dan Peterson, a native of DePere, Wis., began his yearlong term as chair of the Wisconsin Bankers Association (WBA). The banking veteran, nearing 35 years in the industry, inspires bankers around the state with his strong

FOUNDED 1892

Daniel Peterson WBA Chair, 2022–2023

work ethic and overall dedication to local communities and the banking industry.

After graduating from St. Norbert College with a bachelor’s degree

in business administration, Peterson began his career as a lending officer with a finance company, first located in Milwaukee, transferring to Marinette after

nine months. In 1988, after two years with the finance company, Peterson began his banking career with The Stephenson National Bank & Trust (SNBT)

served as head of the commercial loan department in 2003 before advancing to his current role of president and CEO in 2013. (continued on p. 8)

CUs Continue Expansion Into Wisconsin Markets Bank acquisitions by credit unions persist

By Hannah Flanders Earlier this year, one of the largest credit union acquisitions of a bank nationwide occurred in Wisconsin. As the deal between Commerce State Bank, West Bend and Summit Credit Union, Madison prepares to close in the third quarter of 2022, it is becoming increasingly important that WBA and its membership act in opposition of further credit union expansion and hold these institutions accountable for the implications to Wisconsin’s economy.

First established in the early 1900s, credit unions aimed at providing access to credit

and financial services to those of low or modest means. However, since their inception in the U.S., credit unions have largely gone unrestrained and have expanded into entities nearly indistinguishable from banks.

As of May 2022, six of the 10 largest financial institutions in the state of Wisconsin were credit unions. Of these credit unions, 14 have equal to or greater than one billion dollars in assets, operating essentially as large commercial banks — aside from their tax-paying status.

Due to their notfor-profit status, credit unions are exempt from federal and state income taxes. As these institutions remain widely unchallenged by regulators, credit unions take advantage of their tax-exempt (continued on p. 12)

UMS

Madison, WI 53718 4721 South Biltmore Lane Wisconsin Bankers Association

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JULY 2022

Driving Our Industry Forward Through Engagement

By Daniel J. Peterson For 130 years, the Wisconsin Bankers Association (WBA) has led bankers in their efforts to deepen their knowledge and connect with their communities.

This intense focus and commitment to Wisconsin bankers has allowed the organization to serve as a pillar for all things banking — such as education and advocacy.

While the Association only continues to grow, serving 98 percent of the banks in the state — over 35,000 bankers total — the pandemic halted many of the ways in which bankers connected with their peers and community members.

As WBA events, and life in general, more closely resemble the state of normalcy we last knew in early 2020, I encourage WBA-member banks to take this year to further deepen your engagement with the

Message from the Chair Daniel J. Peterson

Association and ultimately make the most of your membership.

Whether it be taking part in events such as the Building Our Leaders of Tomorrow (BOLT) Summits, any of the nearly 900 educational opportunities offered each year, volunteering in WBA’s Advocacy Officer program, or one of the many committees — there is something of interest for every member, at every level of your bank.

WBA also offers several resources for bankers, including the newly remodeled Engagement Center located at the WBA office in Madison. This space includes state-of-the-art

technology and ample room for banks to lead planning sessions, hold hybrid or in-person meetings, or designate a quiet area to work. Additionally, the Engagement Center annually hosts hundreds of bankers from around the state for training sessions, seminars, and schools.

WBA’s role in fostering the growth of the banking industry in Wisconsin is critical and unlike many other opportunities offered elsewhere. Your engagement in WBA’s efforts assists the organization in staying relevant and helps provide the highest quality resources and information to every member.

As I look to the year ahead, I am excited to discover all the new ways WBA members will create deeper connections with their peers and the banking industry. Not only do WBA programs provide benefits for banking leaders and their teams,

but as trusted advisors and leaders in our communities, we have a unique opportunity to share our financial expertise with public officials and neighbors.

Bankers throughout the state serve as the most important spokespeople for our industry.

By increasing engagement, not only do our teams benefit from education and networking opportunities, WBA is able to better understand how to best serve Wisconsin bankers. I am repeatedly reminded that WBA is our association. Now’s the time for bankers around the state to take advantage of the multitude of ways in which to engage for the benefit of shaping professional growth, developing connections, and shaping our industry as a whole.

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

Seventeenth Annual WBA Chairman’s Member Appreciation Golf Outing •

Thursday, August 18 Trappers Turn Golf Club Wisconsin Dells

Register at www.wisbank.com/golf.

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JULY 2022

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JULY 2022

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JULY 2022

Revised Flood Q&As Provide Banks with Expanded, Organized Resource Have the Agencies Finalized Their Revised Flood Q&As?

Q A

Answer: Yes. The OCC, FRB, FDIC, FCA, and NUCA (agencies) have reorganized, revised, and expanded the Interagency Questions and Answers Regarding Flood Insurance (Revised Flood Q&A).

Flood matters continue to be a hot topic with the examiners, and the Revised Flood Q&As are a helpful tool in working through many of the issues associated with flood compliance. The agencies previously issued flood interpretations, but those resources were scattered and found within various guidance documents such as the 2009 and 2011 Q&As. The Revised Flood Q&As supersede and replace those resources by

Compliance Q&A Scott Birrenkott

consolidating and updating them into a single document.

The Revised Flood Q&As are organized by category and broken down into numerical designations within their categories. The agencies plan to update and manage these categories accordingly in the future. As an example of the benefit of the Revised Flood Q&As, examiners have recently been reviewing crosscollateralization and contents coverage calculations. The new category labeled “Other Security Interests” includes

Visit www.wisbank.com to learn more about this topic and other compliance-related issues.

helpful discussion regarding such matters. For example, “Other Security Interests 7” discusses when flood insurance is required on contents, including examples of how to calculate.

Question 8 then discusses a situation in which the contents might be located in another building, and question 9 covers applicability to contents taken as an “abundance of caution.” WBA has recently received questions regarding when contents coverage is required, as well as how to calculate insurable value when contents is included. These updated Q&As are helpful in understanding how the regulators view such situations.

While the flood rules themselves have not changed, the Revised Flood Q&As have been updated for ease of use and remain an excellent resource to consult when faced with a flood question. For any questions on flood matters or other compliance, also consider reaching out to WBA legal at wbalegal@ wisbank.com or 608-441-1200.

To learn more about The Revised Flood Q&As, please visit fdic.gov/news/pressreleases/2022/pr22040a.pdf.

Birrenkott is WBA director – legal.

For legal questions, please email wbalegal@wisbank.com.

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

WBA Comments on FRB, FHA, and FDIC Proposals Summary of recent comment letters below FRB Discussion Paper on Central Bank Digital Currency In its comments on FRB’s recent discussion paper on Central Bank Digital Currency (CBDC), WBA cautioned that the potential benefits at this time do not outweigh the risks presented to the financial sector. Proponents of a CBDC have discussed potential benefits such as promoting financial inclusion, yet WBA has found these prospects to be uncertain, given that nonbank participants are already suspicious of government involvement in the financial sector. WBA warned of more likely costs and disruptions to the financial sector presented by a CBDC. 40-Year Term for FHA Loan Modifications

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

In a recent comment letter, WBA expressed strong support of the Department of Housing and Urban Development’s (HUD) proposal to allow mortgagees to modify Federal Housing Administration (FHA) insured mortgage loans by recasting the total unpaid amount due for a new term limit of 480 months; an increase from a term limit of 360 months.

WBA stated the extended term will allow FHA-loan borrowers similar flexibility and benefits as is available for Fannie- and Freddie-loan borrowers and will create yet another tool for

Wisconsin’s financial institutions to use in their continued work to help find solutions for struggling borrowers to retain their homes.

FDIC’s Statement of Principles for Climate-Related Risk FDIC recently requested comment on draft principles for climate-related financial risk management, targeted for the largest financial institutions, being those with over $100 billion in total consolidated assets.

In its comments, WBA acknowledged and appreciated FDIC’s risk-based approach, but discussed certain concerns with the draft principles.

WBA noted that Wisconsin banks already adequately

manage various risks using long-standing and time-tested credit-based risk management practices. These existing principles have already withstood decades of natural disasters, pandemics, and climate-related events. As such, WBA recommended that FDIC focus on empirical data to first determine what, if any, gaps exist specific to climate-related financial risk rather than building new frameworks from the ground up. WBA also cautioned that if finalized, any principles must not, directly, or indirectly, affect community banks, and must not result in excluding lawful but climate disfavored customers or industries from the financial system.

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.

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JULY 2022

Advocacy Update

Getting Involved This Election Season

By Lorenzo Cruz When it comes to elections — Wisconsin is largely known to be a battleground state, and it’s no surprise that the upcoming 2022 election looks no different. WBA predicts Wisconsin to yet again take the national stage as Republicans and Democrats fight for control of the state legislature, the East Wing, and U.S. Congress.

Advocacy Update Lorenzo Cruz

» See p. 7 for a list of profiles for the U.S. Senate and gubernatorial candidates.

What to Expect The GOP anticipates a possible red wave which could lead to veto-proof super majorities and a recapturing of the governor’s office.

Democrats, on the other hand,

U.S. Supreme Court intervention, elected officials now shift their focus into full election mode. Nomination papers were submitted on June 1 by all candidates. Over a dozen incumbents drew challengers for the August 9 primary.

» Learn more about how your bank can designate an Advocacy Officer by visiting wisbank.com/advocacy/ advocacy-officers.

Whom to Watch The only Democrat incumbent to draw a primary opponent is Secretary of State Doug La Follette who faces Alexia Sabor, chair of the Democratic Party of Dane County.

Nine total GOP members of the state Senate and state Assembly are confronting primary challenges which include Assembly Speaker Robin Vos (R-Rochester) and Senate Majority Leader Devin LeMahieu (R-Oostburg).

Other state GOP incumbents contending with primary challengers include Senator Van Wanggaard (R-Racine),

look to keep Governor Tony Evers in office and block super majorities in both state houses.

There are currently 29 seats in the legislature up for grabs due to retirements or legislators pursuing other offices. Twentytwo seats are in the state Assembly and seven seats are in the state Senate.

With the state’s congressional and legislative district maps set after state and

Staff Change? Address Change?

Let WBA Know 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?

Please send your address corrections and/or additions to our database administrator, WBA Assistant Director – IT Randy Molepske, at 608-441-1212 or requests@ wisbank.com.

Rep. Joel Kitchens (RSturgeon Bay), Rep. Tyler August (R-Lake Geneva), Rep. Robert Brooks (R-Saukville), Rep. James Edming (R-Glen Flora), Rep. Treig Pronschinske (R-Mondovi), and Rep. Loren Oldenburg (R-Viroqua).

GOP challengers are campaigning on a variety of issues including, but not limited to: election integrity/ reform, COVID-19 vaccine mandates, masking in schools, and incumbent leadership change.

On the federal side, U.S. GOP incumbents facing challenges in the August primary are Senator Ron Johnson (R-Oshkosh), Rep. Glenn Grothman (R-Glenbeulah), Rep. Tom Tiffany (RMinocqua), and Rep. Mike Gallagher (R-Green Bay).

There is only one open seat without a primary or general election — Democrat Rep. John Brosthoff’s (D-Milwaukee).

Campaign strategists expect extraordinary amounts of political spending on state and federal races in Wisconsin.

At a recent WisPolitics luncheon, GOP Party Chair Paul Farrow and Democratic Party Chair Ben Wikler agreed that Wisconsin could see record-breaking spending for campaigns from outside groups, campaigns, and both parties in the area of $700 million. The incredible volume of television, radio, print, and social media advertisements for state and federal campaigns will increase exponentially at a blistering pace over the next several months.

How to Participate As always, the WBA Advocacy Team urges the members to be engaged in the political process. Our state and federal elected officials

» Interested in making a political contribution in support of WBA’s efforts?

Visit wisbank.com/give to learn how.

shape public policy by passing legislation or administrative rules which greatly impact the banking industry.

There are two ways bankers can help make a difference on the advocacy front. The first is become an Advocacy Officer. Currently, over 100 banks across the state have already designated Advocacy Officers, representing more than 50% of all WBA-member banks. These officers serve as another powerful and relevant voice that helps amplify WBA’s message and raise the visible presence of the banking industry back home in the legislative district or in Madison on Capitol Day. This fiscal year, WBA hopes to continue to grow our ranks upwards until we have 100% participation.

The second way is to contribute to Wisbankpac — WBA’s state political action committee — or to the Alliance of Bankers for Wisconsin (ABW) — WBA’s state conduit. As you very well know, campaigns are extremely expensive. These political contributions help defray campaign-related expenses and support pro-banking and pro-business candidates.

Over the next several editions of the Wisconsin Banker leading up to the general election in November, the WBA Advocacy Team will be highlighting some of the races to watch in Wisconsin.

U.S. Senate and gubernatorial candidates are profiled on p. 7.

Cruz is WBA vice president – government relations.

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JULY 2022

U.S. Senate | Governor

2022 Election: Races to Watch U.S. Senate With a 50–50 split in the U.S. Senate, the national spotlight will again shift to purple battleground states, such as Wisconsin, where GOP Sen. Ron Johnson is running to serve a third term. There are numerous Democratic candidates running in a primary, the winner of which will face Johnson, who is unopposed on the Republican side. » Sen. Ron Johnson (R-Incumbent): Sen. Ron Johnson successfully ran as an outsider businessman in 2010, defeating longtime incumbent Russ Feingold. He won reelection by narrowly defeating Feingold again in 2016 and is now running for a third term.

Johnson is one of Wisconsin’s, indeed the country’s, most polarizing political figures. » Mandela Barnes (D) Mandela Barnes was elected Wisconsin’s lieutenant governor alongside Gov. Tony Evers in 2018. Barnes is Wisconsin’s first African American lieutenant governor. He served in the state Assembly from 2013 to 2017, representing portions of the north side of the City of Milwaukee, and portions of Wauwatosa. Prior to elected service, Barnes worked for Milwaukee Mayor Tom Barrett, was a community organizer, and worked for a progressive public policy organization in Madison. » Alex Lasry (D): Alex Lasry is currently on leave from his leadership role with the Milwaukee Bucks organization as he runs for

Senate. He spent time on Wall Street before working in the Obama administration.

He relocated to Wisconsin following his father’s purchase of the Bucks organization. He currently resides in Milwaukee. » Sarah Godlewki (D): Sarah Godlewski is currently Wisconsin’s state treasurer, one of five statewide constitutional officers, having been elected in 2018. Godlewski is a native of Eau Claire. She has been involved in philanthropy, municipal governance, investing, and worked on Hillary Clinton’s 2016 presidential campaign.

Governor The highest elected office in Wisconsin, the governor is elected on a statewide basis and serves four-year terms.

The governor and his/her administration are responsible for the state’s executive branch, overseeing cabinet agencies and appointments. The governor also develops a budget proposal every two years and wields veto power over bills the legislature approves.

There are four Republican candidates running in a primary, with the winner facing incumbent Democratic Governor Tony Evers in November. » Gov. Tony Evers (D-Incumbent): Gov. Tony Evers is running for a second term after defeating GOP Gov. Scott Walker in 2018. Originally from Plymouth, Evers was formerly an educator and spent nearly a decade as state superintendent.

Evers’ key first term accomplishments include increased education funding, income tax reductions, and distribution of federal COVID relief resources.

The four candidates seeking the Republican nomination for governor include: » Rebecca Kleefisch (R): Rebecca Kleefisch served two terms as lieutenant governor under Scott Walker, which included wins in 2010 and 2014, and a recall election victory in 2012. She was formerly an on-air television reporter and news anchor. » Tim Michels (R): Tim Michels co-owns and co-manages Michels Corporation, an infrastructure construction company based in Brownsville, Wis. Michels is an Army veteran and previously ran for U.S.

Senate in 2004, losing to incumbent Russ Feingold. » Kevin Nicholson (R): Kevin Nicholson is a businessman, management consultant, and Marine Corps veteran. He unsuccessfully ran for U.S. Senate in 2018. » Tim Ramthun (R): Tim Ranthum is currently serving his second term as a representative in the state Assembly. He represents portions of Calumet, Fond du Lac, Sheboygan, and Washington Counties. He has been one of the state’s most outspoken proponents of decertifying the 2020 election, which is not possible.

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JULY 2022

WBA Holds Ceremony Installing New Board Meet the 2022-2023 WBA Board of Directors To formally announce the 2022–23 Board of Directors, WBA held a ceremony at the WBA headquarters in Madison last month. The ceremony was also livestreamed to members around the state. Board members and committee chairs completing their service were recognized, and new board members and officers were welcomed.

Thank you to all who have served, past and present, for your contributions to Wisconsin’s banking community!

Serving as WBA Board chair for the 2022–2023 fiscal year is Dan Peterson, president and CEO of The Stephenson National Bank & Trust, Marinette.

“We are pleased to welcome Dan as chair of the WBA Board,” said Rose Oswald Poels, WBA president and CEO. “He is an outstanding business and community leader who is well equipped to serve the banking industry in this role.”

Also serving as officers on the WBA Board are: ChairElect Donna Hoppenjan, president and CEO of Mound City Bank, Platteville; Vice Chair Al Araque, senior vice president – director of consumer and private banking, Johnson Financial Group,

Pictured are the 2022–2023 WBA Board of Directors. Seated (left to right) are: Ryan Kamphuis, WBA President and CEO Rose Oswald Poels, Jenny Provancher, Paul Northway, Terry Rosengarten, and Donna Hoppenjan. Standing (left to right) are: Paul Hoffmann, Jay Mack, Joe Peikert, Greg Ogren, Dan Ravenscroft, Jim Chatterton, Ken Thompson, Al Araque, Dan Peterson, Tom Mews, and Greg Lundberg.

Racine; and Past Chair Ken Thompson, president and CEO, Capitol Bank, Madison.

Joining the Board for threeyear terms are Paul Hoffmann, president and CEO, Monona Bank; Ryan Kamphuis, president and CEO, Bristol Morgan Bank, Oakfield; Greg Lundberg, president and CEO, Fortifi Bank, Berlin; and Tom Mews, president, First National Community Bank,

WBA Chair Peterson (continued from p. 1) As WBA chair, Peterson hopes to continue deepening member engagement with the Association. Between education opportunities, advocacyrelated events, and efforts put forth by the Wisconsin Bankers Foundation (WBF) — the nonprofit arm of WBA — Peterson encourages bankers to not only foster growth in their own banks and communities by engaging with the Association, but also help WBA continue to advocate and support

» Read more about Peterson’s priorities on p. 2 of this issue.

members as it has done for the last 130 years.

“I think as members of WBA, we owe it to the organization because they provide so many benefits to us as bankers,” says Peterson.

“I would really like to see member engagement continue to increase over the next year.”

Peterson highlights the newly remodeled WBA office in Madison, including the

New Richmond.

Those continuing their terms on the Board are: Jim Chatterton, president and CEO, National Exchange Bank & Trust, Fond du Lac; Jay Mack, president and CEO, Town Bank, N.A., Hartland; Paul Northway, president and CEO, American National Bank – Fox Cities, Appleton; Greg Ogren, president and CEO, Security Bank Shares,

Inc., Iron River; Joe Peikert, president and CEO, Wolf River Community Bank, Hortonville; Jenny Provancher, CEO, The Equitable Bank, S.S.B., Wauwatosa; Dan Ravenscroft, president and CEO, Royal Bank, Elroy; and Terry Rosengarten, president and COO, Unity Bank, Augusta.

Learn more about this year’s Board at wisbank.com/ about/board-of-directors.

state-of-the-art Engagement Center as being one of the many opportunities banks can utilize to further engage with WBA. The Engagement Center, open to all WBAmember bankers, regularly hosts education events and training sessions. It also serves as an additional resource for bankers to reserve for meetings or strategic planning sessions.

“I think it is important for us as bankers to really support the WBA,” Peterson adds.

“Your involvement will help

us to remain a highly relevant and impactful organization for the membership.”

In his tenure at SNBT, Peterson has also contributed greatly to the efforts of WBA, the banking industry, and his local community. Peterson has previously served on the WBA Bank Executives Conference Advisory Board, the FIPCO (Financial Institution Products Corporation) Board, and the American Bankers Association (ABA) Community Bankers Council. Additionally, Peterson (continued on p. 9)

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JULY 2022

WBA to Outgoing Committee Chairs …

Thank You for Your Leadership June 1 marked the new term for WBA’s committees and sections, resulting in a changing of the guard in the officers in those groups.

Our committees and sections are comprised of banker volunteers who provide perspective on issues affecting the industry, ideas for new products and services, and input on existing WBA offerings. We would like to thank the outgoing chairs of our committees and sections (listed below) for their service in leading their respective groups.

2021-2022 Outgoing Chairs: Agricultural Bankers Section Board: Chris Schneider Vice President – Senior Ag Banking Officer Nicolet National Bank Manitowoc

FIPCO Software Users Committee: Diane Retzlaff Loan Administrator Wolf River Community Bank Hortonville

BOLT Section Board: Loni Meiborg Senior Vice President – Organizational Development Fortifi Bank, Berlin

Government Relations Committee: Tom Mews President First National Community Bank, New Richland

Financial Crimes Committee: Lenore Breit Compliance Manager BSA Officer Prevail Bank, Wausau

Human Resources Committee: Gwen Schnitzler Assistant Vice President – Human Resources Director Forward Bank, Marshfield

Marketing Committee: Stefanie Bonesteel Vice President – Marketing Citizens Bank, Mukwonago

Technology/Operations Committee: Jeffrey Kurek Senior Infrastructure Architect Park Bank, Madison

Mortgage Lending Committee: Jennifer Stein Assistant Vice President – Retail Loan Operations Manager Forte Bank, Hartford

Trust Section Board: Mark J. Chamberlain, J.D., CPA Senior Vice President Trust Point Inc., La Crosse

Retail Banking Committee: Shelley Edgington Senior Vice President – Retail Banking One Community Bank Oregon

2022-2023 Incoming Chairs: The following banker volunteers will lead the association’s committees and section boards for the 2022–2023 fiscal year: Agricultural Bankers Section Board: Chris Schneider Vice President – Senior Ag Banking Officer Nicolet National Bank Manitowoc BOLT Section Board: Jennifer Sobotta, CFMP Vice President – Marketing Director Forward Bank, Marshfield

WBA Chair Peterson (continued from p. 8) is currently the president of the Peshtigo Lion’s Club.

Peterson and his wife of 36 years, Barbara, currently reside in their little “slice of heaven” in Marinette. The couple, both St. Norbert alumni, raised two sons who also went on to attend St. Norbert College. Peterson enjoys spending his time away

Financial Crimes Committee: Lenore Breit (Past Chair) Compliance Manager BSA Officer Prevail Bank, Wausau FIPCO Software Users Committee: Keith Kilen Loan Operations Officer DMB Community Bank DeForest

from the bank outside; be it hunting, fishing, or maintaining his property and spending time with his six — soon to be seven — grandchildren.

Despite his banking background, Peterson jokingly states that members should not expect to find him on the golf course anytime soon, that is unless he is driving the beverage cart!

Flanders is WBA writer/editor.

Government Relations Committee: Mark Oldenberg President and CEO Security Financial Bank Eau Claire Human Resources Committee: Candy Allard Assistant Vice President – Human Resources Specialist Badger Bank, Fort Atkinson Marketing Committee: Stefanie Bonesteel (Past Chair) Vice President – Marketing Citizens Bank, Mukwonago Mortgage Lending Committee: Christine Buckman Universal Loan Officer First Bank of Baldwin Retail Banking Committee: Tom Sattler President The Equitable Bank S.S.B. Wauwatosa

COMMITTEES / SECTIONS

We Need Your Expertise to Help Shape the Banking Industry’s Future If you want to influence your industry’s future, consider lending your experience to one of these committees or sections, and find out for yourself how much you can impact Wisconsin’s financial services industry.

To learn more about volunteering, please visit wisbank.com/community/ get-involved.

Technology/Operations Committee: John Kress Vice President – Chief Information Security Officer The Equitable Bank S.S.B. Wauwatosa Trust Section Board: Terry Chier Vice President – Manager of Personal Trust Services Thrivent Trust Company Appleton

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JULY 2022

Celebrate Your Bank’s Financial Education Efforts WBF financial education summary forms due July 31 Each year, bankers throughout Wisconsin go above and beyond in their mission to provide financial education for their communities. New this year, bankers are encouraged to submit two forms highlighting their individual and bank-wide efforts in improving the financial wellness of individuals in their areas from June 1, 2021 to May 31, 2022.

wisbank.com/foundation

Banker participation assists the Wisconsin Bankers Foundation in better understanding the financial education activities

of banks throughout the state.

These shared activities are then compiled for recognition.

Visit wisbankfoundation. org/education to access the forms. If you have questions regarding the new forms or your bank’s participation in this year’s events, please contact Hannah Flanders at hflanders@wisbank.com or 608-441-1237.

Does Your Bank Have a New, Innovative Approach to Financial Education?

Share the creative ways your teams helped educate Wisconsinites on financial wellness by completing the Bank-wide Financial Education Summary by July 31 for the chance to be recognized at WBA’s 2023 Bank Executives Conference in February!

» Visit wisbankfoundation.org/education to submit both the individual and bank-wide financial education summary forms by July 31.

New Release: 2022 WBA Wisconsin Law Book, A Collection of Statutes and Code for Bankers

New resource identifies areas of Wisconsin law that may impact bank operations A question often heard on the phone from bankers calling the WBA Legal Call Program is: “Where do I find the rule in

Wisconsin that requires...”?

To assist in answering such questions, WBA Legal has released its 2022 WBA

Ease into modern payments with the comfort of ICBA Bancard.

High quality, innovative payment products, including mobile card apps.

Backup support for your community bank in negotiating with payments providers.

Wisconsin Law Book to help bankers locate the statute and code sections applicable to the topic being researched.

The new resource includes Wisconsin statute and administrative code sections for over 125 topics, including law related to deposit accounts, legal process, data matching requirements of banks, the Wisconsin Consumer Act, and the Marital Property Act. The book is available in PDF format to assist with searching for a word or phrase.

Order your bank’s copy of the 2022 WBA Wisconsin

WBA Wisconsin Law Book: A Collection of Statutes and Code for bankers 2022 Edition

Law Book or other legal publications by WBA by visiting wba-storefront. myshopify.com/collections/all.

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WBA Associate Member Program

A strong foundation in thought leadership in payments and ongoing personalized support.

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The WBA Associate Membership program offers three membership package levels in addition to the standard membership: Gold, Silver, and Bronze. 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 as a whole.

To learn more about the WBA Associate Member Packages, visit www.wisbank.com/associates/associate-member-packages or contact WBA‘s Nick Loppnow at nloppnow@wisbank.com or 608-441-1259.

JULY 2022

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BOLT Summer Leadership Summit

Emerging Leaders Gather in Dells for Two-Day Event Investing in the bank’s emerging leaders has never been more important. This summer, 44 WBA-member banks took advantage of the opportunity to send 109 bankers to the Building Our Leaders of Tomorrow (BOLT) Summer Leadership Summit in Wisconsin Dells June 9–10.

In addition to gaining technical subject matter knowledge in bank financials and digital transformation, attendees built their soft skills in the areas of working in a generationally diverse workforce, becoming effective advocates, navigating difficult conversations, achieving personal goals, and harnessing a positive mindset. A wide variety of conference formats enabled attendees to learn from experts, engage in self-reflection, discuss with their peers, and get advice from the WBA CEOnly/ CFOnly group members.

BOLT Section Board Member Ryan Boebel (right), vice president business banking and chief advocacy officer at Community First Bank, Baraboo, takes the stage with Lorenzo Cruz, vice president – government relations at WBA, to share his experience as an advocate in Madison and Washington, D.C. BOLT Section Board Past Chair Loni Meiborg, senior vice president and director of organizational development at Fortifi Bank, Berlin, addresses the group of more than 100 emerging leaders.

The BOLT Section Board works hand in hand with the WBA Education team to put forth relevant content for the bi-annual Summits.

The BOLT Section is free to join for WBA members.

Visit wisbank.com/bolt to learn more and add your bank’s up-and-comers to the network of over 500 BOLT members representing more than 135 banks across Wisconsin. Then save the date for the BOLT Winter Leadership Summit on November 9, 2022 in Wisconsin Dells!

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12

CU Expansion (continued from p. 1) status for their own asset growth and continue to expand far beyond their employer- or neighborhood-focused origins.

Why Community Banks?

Unfortunately, acquisitions of Wisconsin banks by large, growth-oriented credit unions — such as the case with Commerce State Bank and Summit Credit Union — have become increasingly common over the last several years. In total, six whole-bank acquisitions by credit unions have taken place in Wisconsin since 2014.

JULY 2022

ties to their communities and often offering specialized services — such as digital banking or business lending — credit unions have the ability to expand their portfolios and their assets through the acquisition of a bank all while gaining new members.

Increasing competition for both employees and customers has significant impacts on financial institutions across the country. Growth-oriented credit unions in Wisconsin are increasingly lenient in the addition of new members, often not verifying that these customers align with those they are intended to serve.

and acquisition activity and premium offers.”

In addition to their tax-exempt status, credit unions — despite having been founded to provide greater access to financial services — have no requirement to participate in providing Community Reinvestment Act (CRA) investments, or similar programs, to low- and moderate-income (LMI) neighborhoods.

These excess funds that are not allotted into community efforts or back into their membership can be used as leverage for purchasing banks.

As many Midwestern banks continue to be the target of credit union expansion, it is likely — according to a report published by Wilary Winn LLC — that a buying credit union will bid entirely in cash. This type of offer, already difficult for shareholders to refuse, has reportedly been upwards of three times higher than other bids in some cases.

As of May 2022, six of the 10 largest financial institutions in the state of Wisconsin were credit unions. Of these credit unions, 14 have equal to or greater than one billlion dollars in assets, operating essentially as large commercial banks — aside from their tax-paying status.

Throughout the country, 13 whole-bank acquisitions by credit unions took place in 2021 alone — an alarming trend that is expected to continue through 2022 and beyond.

As member-owned organizations, credit unions have a unique interest in community banks. Due to small banks having close

“These multi-billion-dollar credit unions around the state are able to gain momentum though tax-subsidized acquisitions,” states WBA Vice President — Government Relations Lorenzo Cruz.

“Community banks are often unable to compete with rising investor interest in merger

An Unfair Advantage In statement released by WBA President and CEO Rose Oswald Poels shortly after the Commerce State Bank acquisition was announced in March, Oswald Poels highlighted the need for fair and healthy competition

“These multi-billion-dollar credit unions around the state are able to gain momentum through tax-subsidized acquisitions. Community banks are often unable to compete with rising investor interest in merger and acquisition activity and premium offers.”

— Lorenzo Cruz vice president – government relations Wisconsin Bankers Association, Madison

within the financial service industry. As credit unions continue to expand their geographic footprint and offerings to members, these institutions have quickly become increasingly indistinguishable from tax-paying banks.

Membership to a credit union often costs as little as $5 — but with thousands of members across the country and no requirement to pay income taxes in many states — these profits continue to rise.

Credit unions are often able to offer extremely low rates on services. If credit unions abided by their intended mission to only serve specific communities, these low rates would only affect a small percentage of population — however — in 2021, the Credit Union National Association (CUNA) reported that membership had risen to above 130 million Americans.

Community banks do not have the same flexibility with their rates and therefore, are often unable to compete with the rates of credit unions. As highly regulated organizations, the cost of some banking services may be intentionally or unintentionally affected by agencies, including the (continued on p. 13)

13

JULY 2022

CU Expansion (continued from p. 12)

WBA advocated in opposition to

Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (FRB), or the Federal Deposit Insurance Corporation (FDIC).

Of course, the greatest damage to Wisconsin’s economy comes from the loss of tax revenue each time a bank is acquired by a credit union. Annually, the U.S. Treasury loses $2.6 billion in income tax revenue across the country as many of the largest financial institutions remain tax exempt, according to information provided by the American Bankers Association (ABA). As more and more banks are acquired by tax-exempt credit unions, this number will continue rise — forcing the burden onto

AB 478/SB 451 which ultimately would have allowed credit unions even further opportunities to expand. In addition, WBA regularly joins other state associations at the federal level in efforts to keep credit unions in check. individuals and tax-paying businesses and ultimately limiting consumer choice.

Taking Action With the number of banks headquartered in the state decreasing each year — and the number of credit unions throughout the country continuing to rise — WBA has placed even greater emphasis than ever on advocating

in opposition of all credit union expansion.

Over the last 10 years, credit unions around the country have acquired $11 billion in bank assets, according to the ABA. While Wisconsin law continues to allow banks to sell all or a substantial portion of their assets to other companies, given that several criteria are met, many states have made considerable moves in

legislation against whole-bank acquisitions in their state by credit unions. So far, Colorado and Iowa have barred statechartered banks from selling to credit unions.

Last year, WBA advocated in opposition to AB 478/SB 451 which ultimately would have allowed credit unions even further opportunities to expand throughout the state. (continued on p. 15)

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CU Expansion (continued from p. 13)

Wisconsin is experiencing a

In addition to this state legislative effort, WBA regularly joins other state banking associations at the federal level in efforts to keep credit unions in check. These combined efforts not only unite the banking industry throughout the country but also emphasize to legislators the important role bankers play in every community.

“Wisconsin is experiencing a disturbing trend of credit unions buying banks. These acquisitions result in a direct loss of tax revenue to the

disturbing trend of credit unions

Though the future of credit union expansion, both in Wisconsin and around the country, is uncertain, it is clear that so long as they [credit unions] remain untaxed, unchecked, and underregulated, credit unions will continue to extend their reach far beyond their intended purpose.

buying banks. These acquisitions result in a direct loss of tax revenue to the state and federal government which places more of the burden on individuals and tax-paying businesses.

— Rose Oswald Poels president and CEO Wisconsin Bankers Association, Madison

state and federal government which places more of the burden on individuals and taxpaying businesses to support meaningful government and social services such as law enforcement, health insurance for low-income families and their children, infrastructure, and education,” says Oswald Poels. “WBA repeatedly questions the public policy rationale for allowing these acquisitions to occur with state and federal

lawmakers highlighting the detriment to our state every time one is announced.”

Though the future of credit union expansion — both in Wisconsin and around the country — is uncertain, it is clear that so long as they remain untaxed, unchecked, and underregulated, credit unions will continue to extend their reach far beyond their intended purpose. As growth-oriented credit unions continue to be

a detriment to the overall health of the state’s economy, WBA encourages bankers to advocate on behalf of the industry. Whether it be volunteering as a WBA Advocacy Officer to speak with elected officials or in day-to-day conversations with community members — bankers play an important role in holding credit unions accountable.

Flanders is WBA writer/editor.

» WBA encourages bankers to advocate on behalf of the industry. Whether it be volunteering as a WBA Advocacy Officer to speak with elected officials or day-to-day conversations with community members — bankers play an important role in holding credit unions accountable.

ANNOUNCING A Staff Promotion and New Hire at WBA Scott Birrenkott Director – Legal Wisconsin Bankers Association sbirrenkott@wisbank.com The Wisconsin Bankers Association (WBA) is excited to announce that Scott Birrenkott has been promoted to director – legal.

Birrenkott joined WBA in June of 2015 as assistant director – legal and over the past seven years has provided WBA members with current information on the banking industry’s constantly changing regulatory, legislative, and judicial requirements.

As director – government relations, Birrenkott will continue to collaborate with the WBA Government Relations team on advocacy efforts, speak at WBA education programs, and act as senior writer for the WBA Compliance Journal.

Congratulations, Scott.

Nick Loppnow Director – Associate Membership and Business Development Wisconsin Bankers Association nloppnow@wisbank.com WBA is also pleased to announce that Nick Loppnow has re-joined the Association as director – associate membership and business development.

Loppnow first joined WBA in December 2012 as assistant director – education and in October 2016 transitioned into the role of director – associate member and education services.

In his new position, Loppnow plays an important role in managing all aspects of WBA Associate Member relations.

Welcome back, Nick.

16

JULY 2022

Bulletin Board

News about people working in Wisconsin’s financial institutions Promotions and New Hires Fond du Lac Mike Backaus (pictured) has joined National Exchange Bank & Trust as enterprise risk manager & chief information security officer. Additionally, Kari De Smith (pictured) has been named operations manager for the Adell office, and Amanda Schultz (pictured) has been promoted to operations manager for the offices in Brandon and Rosendale.

Green Bay Joy Langreder (pictured) has joined Associated Bank as senior vice Langreder president & director of talent acquisition and development – human resources.

Additionally, Davis Callie Davis (pictured) has been promoted to the role of senior vice

to senior vice president – director of human resources, and Scott Platto to first vice president and controller.

Backaus

De Smith

Schultz

Rouse

Iwicki

Engstrom

Preston

Fellows

Bittner

Dolata

president & director of diversity, equity, & inclusion (DE&I) – human resources.

Ixonia Ixonia Bancshares and Ixonia Bank are pleased to announce that Greg Larson has been hired as the bank’s next chief executive officer, succeeding Chairman and CEO Daniel Westrope, who is retiring after 11 years.

Dave Rouse (pictured) has also been appointed as senior vice president – residential mortgage lending.

Lake Geneva Bryan Iwicki (pictured) has joined Community State Bank as vice president – business banking.

Madison Bankers’ Bank has announced the promotions of David Gremillion to first vice president – Bankcards, Joe Hauser to senior vice president – director of internal audit, Kevin Means to senior vice president, Paul Watson to first vice president, Rian Uelmen

Prevail Bank Donates $10,000 to Habitat for Humanity As part of its Charitable Contributions program, Prevail Bank has donated $10,000 to support Habitat for Humanity of Chippewa County. The donated funds will purchase materials needed to build low-income housing for families in need of stable, safe, and affordable housing.

Pictured (left to right) from Prevail Bank are: Nick White, commercial lending officer; Ryan Ludy, mortgage loan originator; and David Johns, chief retail officer; and from Habitat for Humanity of Chippewa County: John Dawson, executive director; and Janine Thull, Board president.

First Business Bank is pleased to welcome Eric Engstrom, CIMA® (pictured), as vice president – investment portfolio manager. First Business Bank has also announced the promotions of Kim Preston (pictured) to senior vice president – director of treasury management, and Melissa Fellows, CTP (pictured), to senior vice president – managing director of treasury management.

Manitowoc Betty Bittner (pictured) has been promoted to assistant vice president – branch manager at Bank First.

Marinette Jenni Dolata (pictured) has been named retail lending (continued on p. 17)

Wisconsin SBA Honors Wisconsin Community Banks Bank of Kaukauna; Wolf River Community Bank, Hortonville; Oostburg State Bank; Oak Bank, Fitchburg; and Community State Bank, Union Grove were honored in May with the fiscal year 2021 Wisconsin SBA Volume Lender Award based on their asset size.

Have good news? To submit a notice, please email bulletinboard@wisbank.com or mail entries to WBA Bulletin Board, 4721 South Biltmore Lane, Madison, WI 53718.

Send photos as JPEG files. Questions? Contact WBA’s Hannah Flanders at 608-441-1237 or hflanders@wisbank.com.

17

JULY 2022

Bulletin Board

News about people working in Wisconsin’s financial institutions Bulletin Board

Madison; Christian Ruppe, vice president of innovation and strategy at Horicon Bank; and Philip Suckow, director of digital and innovation at IncredibleBank, Wausau; have been named to the Independent Community Bankers of America’s (ICBA) 40 Under 40: Emerging Community Bank Leaders in 2022.

(continued from p. 16) officer at the Oconto Office of The Stephenson National Bank & Trust (SNBT).

Milwaukee Wintrust Commercial Banking at Town Bank, N.A. has hired Julian LaMue as market president for northeastern Wisconsin.

Port Washington Port Washington State Bank (PWSB) is pleased to announce the recent promotions of Aimee Larsson (pictured) to retail processing manager, Mike Ott (pictured) to loan servicing manager, Zach Deming (pictured) to small business lender, and Heidi Pautz (pictured) to controller.

Stevens Point First State Bank has announced the promotion of Brian Wood (pictured) to vice president – loan operations.

Waukesha Greenwoods State Bank has announced that Wendy Sowinski has joined the bank and will serve as

Larsson

Ott

Deming

Pautz

Wood

McElmeel

Wittaker

Sattler

Holz

Pieroni

senior vice president – director of commercial and industrial lending.

Waukesha State Bank has hired Kevin McElmeel (pictured) as a mortgage consultant.

Wausau Peoples State Bank has announced the promotion of Jill Whittaker (pictured) to digital branch manager, a newly created position.

Wauwatosa TEB Bancorp Inc. and The Equitable Bank, S.S.B. have announced the promotion of Tom Sattler (pictured) to president.

Announcements New London First State Bank President Bob Van Asten has announced that

the construction of a new bank office/corporate headquarters in downtown New London will begin this summer and should be complete in April 2023.

Additionally, First State Bank will be donating its iconic downtown office building at 113 W. North Water Street to the New London Public Library.

Congratulations Fond du Lac Steve Holz (pictured), executive vice president – commercial lending, celebrated 30 years of service to National Exchange Bank & Trust on March 24.

ICBA 40 Under 40 Ami Myrland, senior vice president/CFO at Captiol Bank,

Kenosha Community State Bank’s Kenosha market president Robert Pieroni (pictured) has been awarded the 2021 Racine County Economic Development Corporation (RCEDC) Lender of the Year Award for the second consecutive year.

Associate Member News Madison Cinnaire has announced the closing of a $145 million Low Income Housing Tax Credit (LIHTC) equity fund that will finance the development or preservation of more than 1,600 affordable homes in five states. Cinnaire is a WBA Gold Associate Member.

WBA Lifetime Service Awards Presented to Bankers in Columbus and New Lisbon Five Farmers & Merchants Union Bank (FMUB), Columbus, employees were honored by WBA President and CEO Rose Oswald Poels in April for their lifetime of service to the banking industry. Pictured (left) are: Front (left to right): Elizabeth Sauer, 30 years; Michelle Lange, 31 years; June Waterworth, FMUB Board member; Daniel De Jager, 30 years; and Greg Le Captain, 31 years. Middle (left to right): Rose Oswald Poels, WBA president/CEO; and Jennifer Baerwolf, FMUB Board member. Back (left to right): Douglas Lambert, ag lender and FMUB Board member; Dr. Jerome Gaska, FMUB Board member; Douglas Caldwell, FMUB Board member; Randy Bobholz, FMUB president/CEO and FMUB Board member; Curtis Hanson, FMUB Board member; and Nicholas Sharrow, FMUB Board member.

Pictured (left): June Waterworth (right), presents June Bebel with her award recognizing her 41 years of service to the banking industry at a separate meeting.

WBA President and CEO Rose Oswald Poels (above, left) presented Royal Bank, New Lisbon, Customer Service Service Representative Dawn Schendel with WBA’s Lifetime of Service Award in celebration of her tenure with bank during her retirement party on May 27.

18

JULY 2022

Your

EDUCATION Calendar Conferences I Summits

Schools I Boot Camps

Seminars I Workshops

JULY 2022

WBA Webinars

OCTOBER 2022

• Branch Manager Boot Camp: Session 3 4-part series; virtual half-days; $800/attendee

• Principles of Banking Course 5–6 Mineral Point; $550/attendee

• Community Bankers for Compliance (CBC) — Session III 26–27 Virtual half-days; membership (pricing options vary)

• Commercial Lending School 12–14 Madison; $895/attendee

26

AUGUST 2022 • Agricultural Lending School 10–12 Madison; $895/attendee (an optional pre-school workshop is available on August 9) 18

• Chairman’s Member Appreciation Golf Outing Wisconsin Dells

• Deposit Compliance School 22–23 Madison or virtual; $535/attendee 30

• Branch Manager Boot Camp: Session 4 4-part series; virtual half-days; $800/attendee

SEPTEMBER 2022 1

• Internal Audit Workshop Madison; $245/attendee

7

• WBA/MBA Advanced Financial Statement

& Cash Flow Analysis Workshop Lansing, Mich. or virtual; $265/attendee

8

• WBA/MBA Advanced Tax Return

Analysis Workshop Lansing, Mich. or virtual; $265/attendee

9

• WBA/MBA Advanced C&I and

CRE Lending Workshop Lansing, Mich. or virtual; $265/attendee

• Management Conference (including tracks for CEOs, CFOs, CCOs, HR, and other bank leaders) 13–14 Wisconsin Dells • Secur-I.T. Conference (including tracks for BSA/AML, Operations, Security, and Technology) 20–21 Wisconsin Dells 22

• Branch Manager Boot Camp: Session 1 4-part series; virtual half-days; $800/attendee

27

• IRA Essentials Workshops Madison; $245/attendee

28

• Advanced IRA Workshops Madison; $245/attendee

29

• HR Workshop Madison; $245/attendee

Other Events

• Family-owned and Closely Held

Bank Strategic Retreat 13–14 Madison • Supervisor Boot Camp 18–19 Madison; $535/attendee • FIPCO Software & Compliance Forum:

Loan & Mortgage 19–20 Virtual 20

• Branch Manager Boot Camp: Session 2 4-part series; virtual half-days; $800/attendee

25 26

• Community Bankers for Compliance (CBC) — Session IV Stevens Point; membership (pricing options vary) Madison; membership (pricing options vary)

26 27

• FDIC Directors College Wausau; $225/attendee Madison; $225/attendee

• Principles of Banking Course 26–27 Eau Claire; $550/attendee

NOVEMBER 2022 2–3

• Personal Banker School Madison; $495/attendee

9

• BOLT Winter Leadership Summit Wisconsin Dells; $150/attendee

10

• Branch Manager Boot Camp: Session 3 4-part series; virtual half-days; $800/attendee

15

• Compliance Forum: Session 2 Wisconsin Dells; annual membership (pricing varies)

• LEAD360 Conference 16–17 Wisconsin Dells

» Visit www.wisbank.com/education for more information and online registration. » Or email WBA Education at wbaeducation@ wisbank.com or call 608-441-1252.

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JULY 2022

Save Time and Money by Considering an API

By Jesse Voit Today, banks are constantly being guided towards data exchange technology — it seems there is a program for almost everything. They are the best way to move information from one program to another without having to re-enter it.

At times, it can feel like an upsell, but adding the right Application Programming Interface (API) can help solve issues that many institutions have with efficiencies and provide more assurance with compliance.

A major concern for banks is retaining compliant documentation. At FIPCO™, we take pride in having some of the most compliant documents, but information entered by bank employees is essential in maintaining compliance throughout

FIPCO™ Jesse Voit

Contact Jesse Voit at 608-441-1258 or jvoit@fipco.com to learn how APIs can help at your bank.

financial processes. Entering information is often tedious, and too much repetition can lead to mistakes. Interfaces are a great solution to help eliminate excess amounts of time spent entering informamation and can help prevent costly compliance mistakes.

Efficiency is something that all institutions strive for. APIs help to save time and money; two of the most valuable assets. Employees who are

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Contact FIPCO’s Jodi Zieske at 608-441-1274 or jzieske@fipco.com for free, no-obligation quotes on any holiday items or to place your holiday supplies order.

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provided the tools to be as efficient as possible have the ability to save a bank the cost of additional employees and a significant amount of time not having to stop working on an item to re-enter information.

Studies have shown that when individuals switch between tasks, the amount of time it takes to complete both tasks drastically increases. If a welltrained employee is provided the interfaces necessary to cut back on entering the same information multiple times, they can move through the process faster and with more control over compliance.

Compliance — another essential aspect of the industry that banks spend a lot of time, energy, and money on. Data exchange software provides reassurance in remaining compliant by reducing chances

of mistyping when entering data wherever possible. Additionally, interfaces have the ability to carry vital information from one program to another, ensuring the information remains consistent throughout. This improved process allows employees to spend more time ensuring the accuracy of information and move through the process to complete tasks with confidence.

Now’s the time to review potential APIs that might help your team drive efficiency and compliance. The time and money that the right data exchange programming will save you is sure to provide a significant return on investment for the whole institution.

Voit is vice president business development at FIPCO. He can be reached at jvoit@fipco.com or 608-441-1258.

C O N F I D E N T. It shows not only through words but actions.

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

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

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

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20

JULY 2022

Interest Rate Risk and Investment Strategies Seminar August 30, 2022 | Stevens Point, WI SentryWorld Golf Course

AUG Two years after the pandemic left financial institutions drowning in excess liquidity at historically low interest rates, the industry faces

Stevens Point, WI SentryWorld Golf Course 601 Michigan Ave N Stevens Point, WI 54481 715-345-1600

WHO SHOULD ATTEND

a new challenge… rising interest rates. The Fed has quickly pivoted from supporting the economy to fighting inflation and institutions are now facing the first rising rate environment in years. Regulators have watched with concern as loan and investment durations extended to record highs in a search for yield and will have a renewed focus on the Investment Portfolio and Interest Rate Risk Management. Portfolio managers can no longer be reactive, but must be proactive in managing

Financial institutions’ CEOs, CFOs, investment officers, board members, and those who are directly or indirectly responsible for financial management functions will benefit from this seminar.

There is no cost for this seminar.

their investment portfolio and balance sheet in the face of rising rates

AGENDA

• Economic and Market Update — Review of current economic conditions and the outlook for growth, inflation, and interest rates • The Powell Pivot — Update on rate hikes, tapering, and the outlook for Federal Reserve monetary policy • Interest Rate Risk — How to ensure you are prepared for the heightened regulatory focus coming in the years ahead • Liquidity Risk Management — Best practices for managing liquidity risk as rates rise • Investment Portfolio Strategies — Adapting your strategy and finding the best relative value for rising rates and a flattening yield curve • MBS/CMO Market — Balancing prepayment and extension risk in an uncertain mortgage rate environment • Municipal Market Update — The latest on managing municipal credit risk and finding the best relative value

Tuesday, August 30, 2022 Breakfast 7:30 am Seminar 8:30 am Lunch 12:00 pm Golf 1:00 pm (Enjoy a round of golf on us)

3.5 hours of Economics and Finance CPE credits will be earned for your attendance.

and a flattening yield curve. This seminar will examine all of these concerns and present actionable strategies to better prepare your institution for the uncertainty ahead.

Join us for an in-depth discussion of the following topics:

Register online at GoBaker.com/wisconsin. For more information call Skoshi Heron at 888.990.0010.

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21

JULY 2022

Lead Your Team to the Next Level

WBA’s Management Conference Returns to Wisconsin Dells in September Join over 150 banking leaders for WBA’s annual Management Conference September 13 and 14 in Wisconsin Dells.

C-suite and HR professionals will enjoy several general sessions, breakout sessions, and opportunities to network among Wisconsin banking peers and over 50 conference sponsors and exhibitors from across the U.S. The conference, to be held at Glacier Canyon Conference Center, will officially begin on Tuesday night with a dinner program and ceremony recognizing individual bankers who will be receiving WBA’s 30- and 40-year Lifetime Service Awards. Bankers are encouraged to attend this program not only to celebrate these milestone achievements, but for additional opportunities to network with banking peers.

Bankers interested in receiving this recognition or honoring an individual who meets the service award criteria should visit wisbank.com/ ServiceAwards to complete the nomination form.

Before the dinner program on Tuesday, September 13, bankers looking to make the most of their time out of the office will also enjoy an optional pre-conference golf outing at Wild Rock Golf Club in Wisconsin Dells. Join WBA, your banking peers, and several

sponsors at this unofficial kickoff for an additional opportunity to connect with banking leaders from around the state.

This year’s conference will focus on taking banking to the next level. By investing in opportunities to network with other community bankers and dive into topics that will help your bank succeed as a business, leaders are able to reinvest the skills and knowledge learned at the conference into every member of their team.

WBA encourages all bank management teams to take advantage of the four management-related breakout session tracks — including credit/lending, human resources, finance, and general bank trends — for the benefit of every leader, their team, and the continued success of their institution.

Honoring Bankers for a Lifetime of Service » Lifetime Service Awards.

Recognize bankers who have served the banking industry for 30 and 40 years. Lifetime Service Awards will be presented at WBA’s Management Conference on Sept. 13.

Visit www.wisbank.com/ ServiceAwards to learn more and nominate someone from your institution.

To learn more and register for the upcoming event in Wisconsin Dells, visit wisbank. com/management. Questions regarding the conference can be directed to WBA’s Lori Kalscheuer, director – education, at lkalscheuer@ wisbank.com or 608-441-1250.

2023 Scenes of Wisconsin Calendar S n e a k P e e k: Join the 70+ Wisconsin banks who use the Scenes of Wisconsin Calendar as a high-quality, cost-effective, and personalized marketing tool to stay in front of their customers 365 days per year!

Place your order online by August 15 at: www.wisbank.com/scenesofwi

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» Call Rick Gerber at 1-866-282-3501 or email rickg@chippewavalleybank.com

JULY 2022

23

How Do Business Leaders Protect Data?

By Rob Foxx, CCBTO I frequently get asked, “How do I or my other non-technical staff help keep my institution safe from electronic threats?”

Ransomware is the topic of the day, and I don’t know that there will be changes to that any time soon. There are a few things that can make protecting yourself easier. Good security is done in multiple layers of defense and requires participation of all members of your team.

Involve Your Whole Team Cybersecurity is the responsibility of all members of the business, not just IT. To that end, everyone needs to know what common tactics are used to compromise your security. Learning how to identify phishing emails as well as business email compromise and reporting these types of events could be the difference between fighting a breach or dodging one. This kind of mindset has been in physical security for a very long time, but it has been a lot slower to be adopted into data security. By educating your staff and yourself and reporting it to the right people in your organization, you can avoid a very common but costly pitfall.

Ensure System Maintenance is Up to Date The next item is a task that IT performs but is something leadership should both understand the basics of and require accountability for.

Keep your systems updated and patched. An alarming number of breaches over the years could have been prevented by simply keeping systems up to date. Microsoft pushes out Windows patches the second Tuesday of every month, which should be reviewed for issues with your environment and deployed as soon as possible. There are tools that make this very

FIPCO IT & Audit Services Rob Foxx

easy to perform should you invest in them. Less obvious patches to other software like Adobe Reader, Google Chrome, and even your remote connection software, are equally important. Keeping an inventory of your software assets and checking them regularly for updates and patches can reduce your attack surface. Updates should not only be done, but they should also be reported to management and/ or the board of directors at a regular frequency.

Secure Your Passwords Get secured passwords or, if possible, multi-factor authentication. Insurance companies offering cyber insurance policies are pushing for people to utilize tools such as authenticators on your phone for multifactor authentication. While this is ideal, it may not be in place in many institutions. The National Institute of Standards and Technology (NIST) security framework used by the U.S. Department of Defense recommends longer passwords (16+ characters) without complexity and no expiration unless you have reason to believe it was exposed.

Passwords can be as simple as picking out 3 random words such as doorbluecomputer.

This is easy to remember and difficult for a computer to guess. If you can’t use multifactor authentication, using a password manager can enable you to use many complex and long passwords that you could never otherwise remember.

Cybersecurity is the responsibility of all members of the business, not just IT. To that end, everyone needs to know what common tactics are used to compromise your security.

Give IT and Security a Seat at the Table Bring IT and information security into your decisionmaking process. If this is something that is not being done currently, consider adding these people to the team that makes your highest-level decisions. They will have a perspective on additional costs as well as potential problems and conflicts that may occur.

While they may not represent the majority of your staff or income, they speak for a considerable portion of your assets. There are few things as frustrating as going forward with a new project and not having considered how it will work with the rest of your environment or whether you have the hardware or software to support it without extra expenditure of assets.

Additionally, there are many problems that exist within a business that your more technical staff could offer a solution to that the rest of the staff may not have known about.

Keep Up With Advancements in Technology Don’t let technology outpace you. New technologies

come out every day, and while you’re not expected to be on the leading edge, you should at least keep a healthy pace with it. For example, if you are using a conventional virus scanner, you are already behind the times. Zero-day exploits (bugs that are either unknown or unpatched) and fileless malware and viruses are also not detected by traditional antivirus products.

Fileless attacks are becoming more prevalent, and you can get them any number of ways.

It could be as innocent as going to a website and without any need clicking or downloading — without your permission, you could have brought an unwanted problem to your institution. Though a bit on the pricier side compared to traditional antivirus, nextgeneration products in this field are far more capable than their older counterparts.

Most of the items presented are of a non-technical nature and should be part of making your staff work well with your information security team and vice versa. In our more modern environments of work from home, it is more important than ever to make cybersecurity a part of everyone’s day to day.

Foxx is information security and audit advisor for FIPCO. He can be reached at rfoxx@fipco.com or 608-441-1249.

FIPCO is a WBA Gold Associate Member.

Staff Change? Address Change?

Let WBA Know 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?

Please send your address corrections and/or additions to our database administrator, WBA Assistant Director – IT Randy Molepske, at 608-441-1212 or requests@ wisbank.com.

WBA A SSOCIATE M EMBER D IRECTORY WBA GOLD ASSOCIATE MEMBERS: BMO Harris Bank — Correspondent Banking Peter Caligiuri, Managing Director & Head – Correspondent Banking, peter.caligiuri@bmo.com | www.bmo.com At BMO, we have more than 50 years of correspondent banking experience and a dedicated team of correspondent banking specialists. They’ll work with you to understand your unique goals and offer a full range of treasury management solutions that can help you run your community bank with greater efficiency, so you can help your clients be more efficient with their money.

BOK Financial Institutional Advisors Josh Hunt, Vice President, jhunt@bokf.com www.bokfinancial.com/institutions The Milwaukee-based team of experienced bankers at BOK Financial Institutions have served Wisconsin community banks for more than 25 years. We help banks identify interest rate, liquidity earnings, and capital risks while developing customized strategies to enhance earnings and mitigate these risks.

Bankers’ Bank Troy Ruegsegger, First Vice President – Correspondent Banking, truegsegger@ bankersbank.com | www.bankersbank.com For more than 40 years, Bankers’ Bank has created an elite product suite customized to meet your needs, keeping your bank competitive and thriving in your community; allowing you to focus on what matters most, building meaningful relationships and growing your community. As the leading provider of financial products and services for over 600 community banks, our only focus is on helping you succeed.

Bell Bank Denise Bunbury, Senior Vice President – Correspondent Banking, dbunbury@bell. bank |www.bell.bank Bell Bank works closely as a correspondent banking partner to community banks in Wisconsin and the region, providing flexible underwriting, competitive lending terms and prices, fast decision-making, and consistent communication as we help you expand your lending capacity.

Boardman & Clark LLP Kirsten Spira, Attorney, kspira@boardman clark.com | www.boardmanclark.com Boardman & Clark LLP has been serving the banking industry in the Upper Midwest for over 40 years. We serve a variety of financial institutions with a focus on advising community banks on all aspects of their business. We know the complex industry of community banking.

Cinnaire Pamela Hetz, Senior Vice President – Business Funding, phetz@cinnaire.com www.cinnaire.com Cinnaire is a nonprofit financial company that supports community and economic revitalization initiatives through creative investments, loans, and development services. Since 1993, Cinnaire has invested $4.9B to develop 863 housing communities in 10 states, providing 53,000 affordable apartment homes for more than 110,000 individuals and families.

FHLBank of Chicago Steve Sikora, Senior Associate Director, ssikora@fhlbc.com | www.fhlbc.com The Federal Home Loan Bank of Chicago (FHLBC) provides short- and long-term funding and asset liability management solutions plus a secondary mortgage market program to members throughout Wisconsin and Illinois.

FIPCO Jesse Voit, Vice President Business Development, jvoit@fipco.com www.fipco.com FIPCO is a subsidiary of the Wisconsin Bankers Association. FIPCO provides quality products, services and unparalleled customer service to the financial industry. These products include loan, mortgage and account opening software, integrations to core accounting and third-party vendor systems, compliance services, a complete preprinted and electronic forms library, and IT Audit and Security Services.

ICBA Services Network Sean Murphy, Vice President – Member Relations, sean.murphy@icba.org www.icba.org Whether considering a new product line, or seeking a community bank-focused provider, the ICBA Services Network has solutions for your community bank through its financial services companies: ICBA Bancard®/TCM Bank®, ICBA Reinsurance®, ICBA Mortgage®, ICBA Securities®, ICBA Strategic Technology Solutions® WBA Insurance Services WBA Insurance Services Brian Siegenthaler, Vice President, EBC, bsiegenthaler@wisbank.com Jeff Otteson, Vice President Sales, MBIS, jeffo@mbisllc.com www.wisbankins.com | www.mbisllc.com WBA Insurance Services provides insurance products for financial institutions through its WBA subsidiaries — WBA Employee Benefits Corporation (EBC) and Midwest Bankers Insurance Corporations (MBIS). Together we protect what matters most to you.

WBA INSURANCE SERVICES WBA Employee Benefits Corporation Midwest Bankers Insurance Services

Correspondent Banking

WBA INSURANCE SERVICES WBA Employee Benefits Corporation Midwest Bankers Insurance Services

™

WBA ASSOCIATE MEMBER | DIRECTORY

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WBA extends its gratitude to all our Associate Member companies for continuing to stand by and support the banking industry and the Association. These companies provide services, information, and products that assist Wisconsin banks serve their customers and communities. Thank you.

WBA SILVER ASSOCIATE MEMBERS: UFS, LLC Chris Soyke, Director of Business Development and Marketing, chriss@ufstech.com www.ufstech.com UFS provides core data processing, digital banking, endpoint managed IT, and cybersecurity solutions to a growing family of Midwest community banks. From the U.P. to Arkansas — our customers look to us to provide reliable, accurate, and state-ofthe-art technology solutions that help them thrive. We provide purpose-built technology exclusively for regulated community banks, employ smart people who treat you like family, and know how to execute with a partnership focus and servant leadership.

Wipfli, LLP Anna Kooi, Partner, anna.kooi@wipfli.com www.wipfli.com Wipfli’s Financial Institutions Practice serves over 900 financial institutions across the country. Our mission is to educate, advise, and assist financial institutions in successfully navigating the complex environment they face. Let our professionals assist with regulatory compliance, profit improvement, risk management, strategic planning, human resource information technology, or audit needs.

WBA BRONZE ASSOCIATE MEMBERS: Arctic Wolf Networks Haley Kaprielian, haley.kaprielian@ arcticwolf.com | www.arcticwolf.com Computer Processing and Software Systems, Cybersecurity, Technology BHG Financial Meaghan Kincaid, mkincaid@bhg-inc.com www.bhgfinancial.com Insurance Services, Lending Services The Baker Group Ken Judd, kjudd@GoBaker.com www.GoBaker.com Investment Broker/Dealer Bank Compensation Consulting John Anderson, john.anderson@bcc-usa.com www.bcc-usa.com Benefits Planning Delta Dental of Wisconsin Steve LeRoy, steve.leroy@deltadentalwi.com www.deltadentalwi.com Benefits Planning Eide Bailly, LLP Paul Sirek, psirek@eidebailly.com www.eidebailly.com Accounting/Auditing

Executive Benefits Network (EBN) David Fritz, dfritz@ebn-design.com www.ebn-design.com Insurance Services

Reinhart Boerner Van Deuren, S.C. John Reichert, jreichert@reinhartlaw.com www.reinhartlaw.com Legal Services

Godfrey & Kahn, S.C. Peter Wilder, pwilder@gklaw.com www.gklaw.com Legal Services

SHAZAM Andy Huth, ahuth@shazam.net www.shazam.net ATM/POS Networks

JMFA Jennifer Simmons, jennifer.simmons@jmfa.com www.jmfa.com Consulting Services, Legal Services

Spectrum Investment Advisors Jonathan Marshall, jjmarshall@ spectruminvestor.com www.spectruminvestor.com Benefits Planning, Investment Broker/Dealer

Northland Securities, Inc. Barb Miller, bmiller@northlandsecurities.com www.northlandsecurities.com Investment Broker/Dealer Plante Moran Kyle Manny, kyle.manny@plantemoran.com www.plantemoran.com Accounting/Auditing Quad City Bank & Trust Kevin Volker, kvolker@qcbt.com www.qcbt.com Correspondence Services

VGM Forbin Don Wilson, dwilson@forbin.com www.forbin.com Information Technology Services, Website Development West Bend Mutual Insurance Scott Stueber, sstueber@wbmi.com www.thesilverlining.com Insurance Services

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

Wisconsin Bankers Association ▪ 4721 South Biltmore Lane ▪ Madison, WI 53718 ▪ 608-441-1200 ▪ www.wisbank.com

WBA ASSOCIATE MEMBER | DIRECTORY ABA Insurance Services Inc. | www.abais.com Scott Harris, seharris@abais.com Abrigo | www.abrigo.com Persis Tuttle, persis.tuttle@abrigo.com Agrograph Inc. | www.agrograph.com James O’Brien, info@agrograph.com Akrivis Real Estate Valuation Services www.akrivisteam.com Javan Coffey, javanc@akrivisteam.com, Allied Solutions, LLC | www.alliedsolutions.net Sam Shikowsky, sam.shikowsky@ alliedsolutions.net

Contact WBA’s Nick Loppnow at nloppnow@wisbank.com or visit www.wisbank.com to learn more.

Case Financial | www.cecinfo.com Mark Worwa, info@casefi.com Communications Engineering Company (CEC) | www.cecinfo.com Brandon McDonald, bmcdonald@cecinfo.com CliftonLarsonAllen | www.claconnect.com Todd Sprang, todd.sprang@claconnect.com

The Ambrose Group | www.ambgrp.com Willie Coffou, ambrose@ambgrp.com

Community Bank Mortgage | www.bank.bank Chris Grimm, chris.grimm@bank.bank

American Deposit Management Co. www.americandeposits.com Kelly Brown, kelly.brown@americandeposits.com

CoNetrix | www.conetrix.com Kellie Hill, khill@conetrix.com,

AmTrust Financial Services, Inc. www.amtrustfinancial.com Kristen Kreuzer, kristen.kreuzer@amtrustgroup.com Arch Mortgage Insurance Co. www.ArchMI.com Joe Doyle, jdoyle@archmi.com Arete Global Solutions, LLC www.areteglobalsolutions.com Evan Lenhardt, evan@areteglobalsolutions.com Artisan Advisors, LLC www.artisan-advisors.com John Hecht, john@jhechtconsulting.com Ascensus | www.ascensus.com Joe Doolittle, Joseph.Doolittle@Ascensus.com BS Recruiters | www.bsrecruiters.com Erick Gorecki, erick.gorecki@gmail.com Baker Tilly Virchow Krause, LLP www.bakertilly.com Stephanie Koutsares, Stephanie.koutsares@bakertilly.com Bank Holding Company Association www.thebhca.org Tom Bengston, tom@nfrcom.com Bank of America | www.bankofamerica.com Simon Wlodarski, simon.wlodarski@bofa.com Blanchard Consulting Group www.blanchardc.com Matt Brei, matt@blanchardc.com BrandPoint Design, LLC www.brandpointdesign.com Mike Parnon, mparnon@brandpointdesign.com BrownBoots Interactive, Inc. www.brownboots.com Alan Hathaway, alan@brownboots.com

Convergint Technologies, LLC www.convergint.com Josh Manring, josh.manring@convergint.com

Edge One, Inc. | www.edgeone.com Lori Featherstone, lfeatherstone@edgeone.com FHN Financial Group | www.fhnfinancial.com Trae Winston, trae.winston@fhnfinancial.com Finastra | www.finastra.com Joel Maederer, joel.maederer@finastra.com First American Capital Corporation, Inc. (FACC) | www.aiccw-facc.org Gary Mejchar, gary@aiccw-facc.org FIS | www.fisglobal.com Nancy Chesnut, nancy.chesnut@fisglobal.com Fiserv, Inc. | www.fiserv.com Brent Conrad, brent.conrad@fiserv.com Foley & Lardner, LLP | www.foley.com Edward Hammon, ehammond@foley.com FORVIS, LLP | www.forvis.com Jenna Gehring, jenna.gehring@forvis.com

Cornerstone Advisors, Inc. | www.crnrstone.com Jennifer Wagner, jwagner@crnrstone.com

Generations Title Company, LLC www.generationstitle.com Stephanie Brassington, sbrassington@generationstitle.com

Coro Cybersecurity | www.coro.net John M. Tarantino, Esq., john.tarantino@coro.net

Haberfeld | www.haberfeld.com Brett Walburn, bwalburn@haberfeld.com

CRA Partners | www.shcpfoundation.org David Lenoir, David.Lenoir@shcpfoundation.org

Hansen Auction Group, LLC www.hansenauctiongroup.com Bryce Hansen, bryce@hansenauctiongroup.com

CrossCheck Compliance, LLC www.crosscheckcompliance.com Patti Katzban, pkatzban@crosscheckcompliance.com

Hilltop Securities, Inc. | www.hilltopsecurities.com Aaron D. Schmanski, aaron.schmanski@hilltopsecurities.com

Crowe, LLP | www.crowe.com Sara Krople, Sara.krople@crowe.com

Hovde Group, LLC | www.hovdegroup.com Kirk Hovde, khovde@hovdegroup.com

Computer Services, Inc. (CSI) | www.csiweb.com Chad Kulberg, chad.kulberg@csiweb.com

Husch Blackwell | www.huschblackwell.com Lauren Capitini, Lauren.Capitini@huschblackwell.com

D.A. Davidson & Co. | www.dadavidson.com Tom Dooley, tdooley@dadco.com Data Center, Inc. (DCI) | www.datacenterinc.com Doug Rohs, drohs@datacenterinc.com Data Financial, Inc. Marc Masi, mmasi@datafinancial.com, www. datafinancial.com DirectNetworks, Inc. www.directnetworksinc.com Colin Mehlum, cmehlum@directnetworksinc.com Donnelly Penman & Partners www.donnellypenman.com Andrew Christians, achristians@donnellypenman.com Eckberg Lammers, P.C. www.eckberglammers.com Nicholas J. Vivian, nvivian@eckberglammers.com Edelman & Co., Ltd. | www.edelmancoltd.com Robert Edleman, rhe@edelmancoltd.com

Impact Seven, Inc. | www.impactseven.org Robert Mayer, bob.mayer@impactseven.org The Independent Bankers Bank (TIB) www.tib.bank Chuck Hudspeth, chudspeth@tib.bank Inlanta Mortgage, Inc. | www.inlanta.com Dave Stephan, davestephan@inlanta.com Integrity Loan Review, LLC www.integrityloanreview.com Kevin Graff, kevin@integrityloanreview.com Integrity Sales & Auction, LLC www.Integritysales.com Dan Rost, info@integritysales.com interface ai, Inc. | www.interface.ai Srinivas Njay, srinivas@interface.ai IntraFi Network | www.IntraFi.com Sue Kling, skling@intrafi.com

Wisconsin Bankers Association ▪ 4721 South Biltmore Lane ▪ Madison, WI 53718 ▪ 608-441-1200 ▪ www.wisbank.com

(continued)

WBA ASSOCIATE MEMBER | DIRECTORY Ironcore Inc. | www.ironcore-inc.com Julia Curtis, julia.curtis@ironcore-inc.com Jack Henry & Associates, Inc. www.jackhenry.com Jacqueline Scheider, JScheider@profitstars.com Janney Montgomery Scott, LLC www.janney.com Paul O’Connor, poconnor@janney.com Jefferson Wells | www.jeffersonwells.com John Eimermann, john.eimermann@jeffersonwells.com Keller, Inc. | www.kellerbuilds.com Katie Mangin, kmangin@kellerbuilds.com

Neider & Boucher, S.C. www.neiderboucher.com Terri Neider, tneider@neiderboucher.com Neostella | www.neostella.com Lisa Bevington, lisa.bevington@neostella.com

State of Wisconsin Investment Board (SWIB) | www.swib.state.wi.us ap@swib.state.wi.us

New Era Technology | www.neweratech.com Mike Pape, mike.pape@rmmsolutions.com

StrataDefense | www.stratadefense.com Matthew Hildebrandt, matth@stratadefense.com

NuSource Financial www.nusourcefinancial.com Hilary Lincoln, hilaryl@nusourcefinancial.com

Strategic Resource Management www.srmcorp.com Micki Schueler, mschueler@srmcorp.com

Oak Ridge Financial Services Group, Inc. www.oakridgefinancial.com Craig Mueller, cmueller@oakridgefinancial.com

Travelers | www.travelers.com Ryan Young, ryoung4@travelers.com

The KeyState Companies | www.key-state.com Ivan Farris, ifarris@key-state.com

Office Depot, Inc. | www.community. officedepot.com/GPOHome?id=48962399 Darrin Quillen, dquillen@synergybai.com

Lasco Development Corporation www.lascoinc.com Robert Baer, robert@lascoinc.com

Old Republic Surety Company www.orsurety.com Pam Selke, psselke@orsurety.com

Leap Strategic Marketing, LLC www.leapstrategicmarketing.com John Verre, jverre@leapmktg.com

Olsen Palmer, LLC | www.olsenpalmer.com Brian Palmer, bpalmer@olsenpalmer.com

Lenderful Solutions www.lenderfulsolutions.com Paul Lehnert, plehnert@lenderful.com LERDAHL: Inspired Workplace Interiors www.lerdahl.com Laurie Richards, lrichards@lerdahl.com

OpenLending | www.openlending.com Julie Knoble, jknoble@openlending.com PACE Wisconsin | www.pacewi.org Kimberly Johnston, kjohnston@slipstreaminc.org Pareto’s Talent, a Division of Lift Consulting, LLC | www.paretostalent.com Laura Mael, Laura.mael@sandler.com

Locknet – An EO Johnson Company www.locknet-inc.com Bill LaRue, blarue@locknet-inc.com

PCBB | www.pcbb.com Beth Abrams, babrams@pcbb.com

Luse Gorman | www.luselaw.com Kip A. Weissman, Esq., kweissman@luselaw.com

PULSE, a Discover Company www.pulsenetwork.com Alia Garces, aliagarces@discover.com

MACHA/PAR Network | www.macha.org Mary Gilmeister, mgilmeister@macha.org Mackinac Credit & Compliance www.maccreditcomp.com Kelly George, kgeorge@maccreditcomp.com Marco Technologies, LLC | www.marconet.com Fred Kunkel, fred.kunkel@marconet.com Mastercard | www.mastercard.com Patrick Dwyer, patrick.dwyer@mastercard.com Merchants Bank, National Association www.merchantsbank.com Mary Paulson, mppaulson@merchantsbank.com Michael, Best, & Friedrich, LLP www.michaelbest.com John Finerty, jdfinerty@michaelbest.com Milwaukee Economic Development Corporation | www.medconline.com David Latona, david.latona@medconline.com NContracts | www.ncontracts.com Rashida Holmes, rashida.holmes@ncontracts.com

Spry Brands | www.sprybrands.com Trent Dahlstrom, trentd@sprybrands.com

Piper Sandler | www.pipersandler.com Jason Mork, jason.mork@psc.com Plansmith Corporation | www.plansmith.com Mike Bilyeu, mike@plansmith.com Primax | www.primax.us Mitch Prashak, mprashak@primax.us QwickRate | www.qwickrate.com Dan Clancy, dan.clancy@quickrate.com

TurnKey Associates, L.C. www.tkadesignbuild.com Corey Clark, coreyc@tkadesignbuild.com United Healthcare – Wisconsin | www.uhc.com Angela Loberg, Angela_l_loberg@uhc.com Upgrade, Inc. | www.upgrade.com Vantage Point Solutions | www.vantagepnt.com Kelly Pfeifer, kelly.pfeifer@vantagepnt.com Verafin | www.verafin.com Amanda Evans, amanda.evans@verafin.com Visa | www.visa.com Paul Russinoff, prussino@visa.com von Briesen & Roper, S.C. | www.vonbriesen.com Karen Brunow, kbrunow@vonbriesen.com WBD, Inc. | www.wbd.org Lance Walter, lwalter@wbd.org WIN Technology | www.wintechnology.com Michael Mattiuz, mike.mattiuz@wintechnology.com Wind River Financial, Inc. www.windriverfinancial.com Tom Kelly, tkelly@windriverfinancial.com Winthrop & Weinstine, P.A. | www.winthrop.com Jane King, jking@winthrop.com Wisconsin Housing and Economic Development Authority (WHEDA) www.wheda.com Ron Slade, ronald.slade@wheda.com

RSM US, LLP | www.rsmus.com Mary Lou Darow, marylou.darow@rsmus.com

Wisconsin Physicians Service Insurance Corporation | www.wpshealth.com Anne Lainberger, anne.lainberger@wpsic.com

The Redmond Company www.theredmondco.com Mike Nath, mnath@theredmondco.com

Wisconsin Women’s Business Initiative Corporation (WWBIC) | www.wwbic.com Michael W. Hetzel, michael.hetzel@wwbic.com

Remedy Consulting | www.remedyconsult.net Karen Lowerr, klowerr@remedyconsult.net

Young & Associates, Inc. | www.younginc.com Anne Coyne, acoyne@younginc.com

SBS CyberSecurity | www.sbscyber.com Chris Damato, chris.damato@sbscyber.com SCS Engineers, Inc. | www.scsengineers.com Ray Tierney, rtierney@scsengineers.com

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

Wisconsin Bankers Association ▪ 4721 South Biltmore Lane ▪ Madison, WI 53718 ▪ 608-441-1200 ▪ www.wisbank.com

28

JULY 2022

State Banker Associations Offer Society of Bank Executives

New opportunity for C-Suite bankers to enhance leadership and grow network The Society of Bank Executives — an initiative brought forth by the Utah Bankers Association and partnered with WBA and several banking trade associations across the country — is now accepting applications for the pre-launch session and annual membership.

The Society of Bank Executives provides senior bank executives with opportunities to enhance critical leadership competencies and build a vibrant network of peers, so they can thrive in the unique and rapidly changing banking landscape.

Secure your annual membership at executives. bank/home

by July 30 to receive a 25% discount for two years.

The Society, structured with bank executive teams in mind, aims to provide bank leaders with opportunities to network and further develop the skills necessary for staying ahead of our ever-changing industry. Executive teams seeking to acquire and develop soft skills, master the “art” of leading a bank, and work alongside bankers from across the country will greatly benefit from this new program.

The secret to better project start-ups is better planning.

The secret to better planning is Readiness Assurance.©

During the two, fourmonth sessions held each year, bankers will have access to online presentations, virtual meetings, and inperson networking events.

Programming is developed to be flexible for each individual meaning even those with less time to commit are able to work at their own pace.

Members of the newly created Society of Bank Executives include C-suite bankers from across the U.S., and Wisconsin bankers are highly encouraged to take part in the pre-launch session occurring this August. To apply for this unique opportunity to serve as a founding member of the Society, gain knowledge on the topics of trust and team building, or learn more about what the Society has to offer for bank leaders, visit executives.bank/home before July 30, 2022.

As the banking landscape continues to rapidly evolve, WBA encourages bank leaders to invest not only in their personal and professional development, but in opportunities to engage with peers outside of their own markets.

Currently, the Society represents bankers from over 15 states.

Trust & Team Building Pre-launch development session » The Speed of Trust Aug. 17, 2022 — 1:30 ET (on demand for 30 days following the presentation) Virtual Presentation by Doug Faber, Consultant, FranklinCovey » Trust and the Five Dysfunctions of a Team Sept. 21, 2022 — 1:30 ET (on demand for 30 days following the presentation) Virtual Presentation

by Casey Thompson, PrincipalConsultant, The Table Group » The Power of Peer Groups Oct. 20–21 2022 — Sun Valley, Idaho » Virtual Wrap & Reflection Nov.10, 2022 — 11:30 MT Moderated by Dr. Paul Godfrey, Academic Advisor, Society of Bank Executives

If you have questions regarding your bank’s involvement in the Society, please contact WBA President and CEO Rose Oswald Poels at ropoels@wisbank.com or 608-441-1205.

Evan Lenhardt Founder and Principal Consultant

Readiness Assurance© is an advanced project planning practice that pairs well with any PM methodology or experience level

ARETE GLOBAL SOLUTIONS (414) 397 2844 areteglobalsolutions.com

Best Practices LIBRARY RA

Stay in the Know… WBA Committee members have created helpful resources exclusively for the WBA membership. WBA’s Best Practice Library provides your bank guides, checklists, and toolkits covering topics ranging from compliance and financial crimes to agriculture, marketing, and mortgage to ensure your staff is up to date.

WBA members can access the Best Practice Library by using the password WisconsinBank3rs at www.wisbank.com/ resources/best-practices-library/.

29

JULY 2022

Grow and Thrive… Expanding Your Opportunities Make the most of your WBA membership

By Daryll J. Lund For 130 years, the Wisconsin Bankers Association (WBA) has strived to offer member banks expansive opportunities to grow and thrive within our industry. In being a member-led organization, the WBA highly encourages bankers of all levels to engage with educational and advocacy-related events, programs, and groups.

As part of its mission to support every member, WBA annually offers hundreds of educational opportunities — from one-hour webinars to five-day schools. While the main objective of all WBA programing is of course professional development, one significant benefit many of us have sincerely missed over the last several years is our ability to connect with one another.

Opportunities for Bankers to Engage In:

Association Update

» CEOnly and CFOnly Network » Building Our Leaders of Tomorrow (BOLT)

Daryll J. Lund

» Advocacy Officers » Committees, Boards, Advisory Groups, and Sections

The team at WBA regularly expresses to me how special it is to witness our member bankers — there are over 35,000 of them — meet and foster connections through WBA conferences, outings, and groups. As events continually return in person, I am excited to serve witness once again to the all the new ideas created and connections formed as many Wisconsin bankers reconvene for the first time since the onset of the pandemic.

Since WBA’s inception, the development — both professionally and personally — of bankers has been a focal point in our mission to support Wisconsin’s banking industry.

In addition to the training and educational programs WBA offers throughout the year, there are many other

» Since WBA’s inception, the development — both professionally and personally — of bankers has been a focal point in our mission to support Wisconsin’s banking industry.

» WBA Connect Peer Groups » Diversity, Equity, & Inclusion (DEI) Employee Resource Group » Learn more at wisbank.com.

volunteer opportunities that individual bankers of all levels may engage in.

These opportunities not only allow for bankers to gain further insight into a specific area of the bank from their peers but encourage them to ask questions and assist WBA staff members in creating meaningful and relevant programs, resources, and content for other bankers throughout the state. Volunteering as a WBA Advocacy Officer, attending the Building Our Leaders of Tomorrow (BOLT) Summit, or engaging with one of WBA’s Connect Peer

SECUR-I.T. & BSA /AML c o n f e r e n c e

Sept. 20–21

Wisconsin Dells

Groups — to name just a few of the opportunities WBA offers to members — allows bankers the ability to make their voices heard throughout the industry.

As your bank looks ahead to all the programs, classes, and events that WBA will be hosting for the remainder of the year, we look forward to welcoming many of you back in person as well as assisting you and your teams in enhancing your connections to your industry and peers across the state.

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

Including BSA/AML, operations, security, and technology tracks.

www.wisbank.com/Secur-IT

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JULY 2022

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

Rose Oswald Poels

Q&A

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Rice Lake’s Dairy State Bank CEO Michael Bock. Read past interviews at www.wisbank.com.

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

Michael: After graduating from college with an accounting degree, my career started in public accounting. After eight years spending significant time in the bank audit, exam, and tax area learning about the banking industry, an Michael Bock opportunity presented itself with Dairy State Bank. After 33 years, I continue to say it was a very good decision to come to the banker’s side of the desk.

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

Without a doubt, interacting with so many great people is what makes this job fun. This comes in the form of helping customers and businesses meet their financial goals as well as solve challenges they sometimes encounter. It also comes from working with a very dedicated and committed staff that are constantly doing their best to make banking easy and rewarding for everyone interacting with us.

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

To the public — yes, we know it takes a lot of paper to open a new checking account, complete a home mortgage, and do so many other things in the bank, but there are

Celebrating WBA’s 130th Anniversary

WBA, FIPCO, and Insurance Services Staff observed WBA’s 130th Anniversary with a “Day at the Duckpond” on June 16 watching a Madison Mallards baseball game. The Mallards played a doubleheader against Fond du Lac, posting a first game loss and second game win.

higher forces requiring the paperwork. As bankers, we are all for making sure customers know what they are signing up for. However, the amount of paper is getting so deep it is sometimes overwhelming. If you do get overwhelmed, please ask questions! As community bankers, we commit ourselves to making sure you understand the banking services you use.

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

This list could be long — including cybersecurity threats, a constantly changing regulatory and political environment, the increased cost of doing business, and what seems like the perpetual effort by the credit unions to expand their footprint while having the huge advantage of no income taxes. But I think one of our greatest challenges is going to be introducing young people to banking as a profession.

This business is very satisfying in so many ways as we have a unique opportunity help our communities and customers thrive. Many young people only see the bank as a place to deposit a check or get a debit card and don’t understand the positive impact we make in so many ways.

Every day, bankers serve their local communities by helping their customers achieve their financial dreams.

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

From making hundreds of PPP loans in the teeth of COVID to donating time and money to community projects that enhance the places we live and lending money to a startup business that grows to become a major employer in the area, the list of rewarding experiences we, as community bankers, have could go on and on.

But I think one of the most satisfying and rewarding acts we do is taking the time to work with a customer to understand when they are being scammed. These are not always easy conversations, because no one wants to admit they may be in a bad situation. However, many times through our observations, conversations, and coaching, our customers keep the money that is rightfully theirs. Assisting our community members like this makes me proud to be a community banker.

Oswald Poels is WBA president and CEO | ropoels@wisbank.com 608-441-1200 | Twitter: @RoseOswaldPoels Do you know a banker who should be recognized as a Community Advocate for the work that they do? Nominate them today by emailing Rose at ropoels@wisbank.com.

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JULY 2022

Bankers Marketplace www.wisbank.com/classifieds H E L P WA N T E D Ag Loan Officer State Bank of Reeseville – Watertown is seeking an Ag Loan Officer. This position is responsible for soliciting, negotiating, underwriting, and servicing a variety of agricultural loans and coordinating the closing of agriculturalrelated loans in compliance with the bank’s lending policies and procedures.

The position also conducts interviews with applicants and recommend approval of customer applications for agricultural loans, analyzes applicant financial status and credit to determine feasibility of granting loan, approves loan within established limits or refers loan to loan committee for approval, and verifies loan agreements are complete and accurate according to policy.

Applicants should be familiar with standard concepts, practices and procedures within a particular field, have a certain degree of creativity and latitude, and understand their responsibility in developing business checking and deposit relationships with customers as well as promoting business for the bank by maintaining sound customer relations.

Qualified applicants may contact Jayne Adams at jaynea@statebankof reeseville.com to learn more about this position. Equal Opportunity Employer — Member FDIC. Commercial Loan Officer State Bank of Reeseville – Watertown is seeking a Commercial Loan Officer.

This position is responsible for soliciting, negotiating, underwriting, servicing a variety of commercial loans, and coordinating the closing of commercial related loans in compliance with the bank’s lending policies and procedures.

The position also conducts interviews with applicants and recommend approval of customer applications for commercial loans, analyzes applicant financial status and credit to determine feasibility of granting loan, approves loan within established limits or refers loan to loan committee for approval, and verifies loan agreements are complete and accurate according to policy.

Applicants should be familiar with standard concepts, practices, and procedures within a particular field; have a certain degree of creativity and latitude; and understand their responsibility in developing business checking and deposit relationships with customers as well as promoting business for the bank by maintaining sound customer relations.

Qualified applicants may contact Jayne Adams at jaynea@statebankof reeseville.com to learn more about this position. Equal Opportunity Employer — Member FDIC.

Want to See More Ads? Visit www.wisbank.com/classifieds to view a full listing of job postings or for more information on placing or responding to an ad.

Loan Processor State Bank of Reeseville – Watertown is expanding their loan department and seeking a Loan Processor. This position assists all loan officers in obtaining and completing information necessary to process loans. This includes being responsible for procurement and processing consumer, commercial, agricultural, and real estate loan documents to ensure that compliance regulations are met and maintained so loans conform to established bank policies; setting up files, preparing documentation, accepting and recording payments, calculating interest and rebates; filing of documents and loan files; keeping loan records up-to-date; using tickler system to keep insurance, tax, financial statements, and UCC documents current; sending work/records to accounting or data processing; and answering questions for customers.

Salary is dependent on experience.

Bonus eligible based on performance.

Some weekends could be required.

Experience preferred but will train the most qualified individual.

Advancement Opportunities for the right candidate.

Qualified applicants may contact Jayne Adams at jaynea@ statebankofreeseville.com to learn more about this position. Equal Opportunity Employer — Member FDIC. Senior Lender Headwaters State Bank is a 100 year old community bank located in northern Wisconsin. We are looking for a selfmotivated seasoned lender. The position is full time with growth opportunities.

Key responsibilities include developing business through expansion, retention, and development strategies; ensuring compliance with bank lending policy and procedures and regulatory procedures; representing the bank in civic and community activities to promote the image of the bank in the branch market areas; providing guidance and support as needed to junior lenders; implementing corporate culture through reinforcement of quality service and teamwork; maintaining positive working relationships with customers, bank staff, local professionals, and community organizations; managing loan portfolio including renewals, modifications, updated credit analysis, collections, and portfolio monitoring.

Skills required include ten years’ experience in a financial institution in a direct lending function, the ability to work independently and as a team

with excellent time management skills, proficiency in use of personal computer and related word processing and spreadsheet software, comprehensive knowledge of banking rules and regulations, leadership and coaching skills, strong written and verbal communication skills, strong analytical and mathematical capabilities, as well as the understanding of credit underwriting and loan documentation.

All interested applicants should submit a current resume and a dated letter explaining their qualifications to Sally Folgert, president and CFO, at sfolgert@headwatersstatebank.com.

Universal Banker State Bank of Reeseville – Watertown is a tried-and-true independent community bank. We are all about relationship banking with a personal touch, investing in our communities, and providing service and value to our customers.

This position functions as the bank’s primary contact with the public and is an experienced sales associate responsible for initiating and developing and maintaining profitable personal and

business deposit customer relationships through excellent customer service, cross sales, referrals, and consumer lending as well as process and compliance knowledge.

The position requires the individual to be responsible for listening and meeting customer needs and concerns and understanding and suggesting bank products to meet customer financial needs. The position requires a high level of accuracy, confidentiality, and flexibility. This position requires a working knowledge of policies, procedures in retail banking with a focus on servicing customer’s needs.

This position requires working directly with customers and may occasionally perform transactions while paying particular attention to managing and balancing cash drawers and will also act in defined leadership roles in the absence of the manager. Applicant must be friendly, motivated, team orientated, and possess a positive attitude.

Interested applicants may submit a resume and cover letter to Jayne Adams at jaynea@statebankofreeseville.com.

Equal Opportunity Employer — Member FDIC.

W ISC ONSIN WBA Mission Statement

BA NK ER

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

Association Officers:

Daniel J. Peterson (Chair), President/CEO, The Stephenson National Bank & Trust, Marinette Donna J. Hoppenjan (Chair-Elect), President/CEO, Mound City Bank, Platteville Alvaro Araque (Vice Chair), Senior Vice President, Director of Consumer and Private Banking, Johnson Financial Group, Racine Kenneth D. Thompson (Past Chair), President/CEO, Capitol Bank, Madison Rose Oswald Poels, President/CEO, Wisconsin Bankers Association, Madison Association Board of Directors: James R. Chatterton, President National Exchange Bank & Trust, Fond du Lac Paul A. Hoffmann, President/CEO Monona Bank Ryan T. Kamphuis, President/CEO Bristol Morgan Bank, Oakfield Greg Lundberg, President/CEO Fortifi Bank, Berlin Jay C. Mack, President/CEO Town Bank, N.A., Hartland Thomas Mews, President First National Community Bank, New Richmond

Paul J. Northway, President/CEO American National Bank Fox Cities, Appleton Greg A. Ogren, President/CEO Security Bank Shares, Inc., Iron River Joe Peikert, President/CEO Wolf River Community Bank, Hortonville Jennifer L. Provancher, President/CEO The Equitable Bank, S.S.B., Wauwatosa Daniel J. Ravenscroft, President/CEO Royal Bank, Elroy Teresa (Terry) Rosengarten, President/Chief Operating Officer Unity Bank, Augusta

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

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

Advertising: sales@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.

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JULY 2022

SBA LENDING MADE EASY. Are you looking for ways to better support your small business customers or generate new customers? Adding SBA lending to your portfolio allows you to provide financing to creditworthy small businesses. Partnering with Bankers’ Bank makes offering SBA 7(a) loans easy, our experts help with eligibility review, loan packaging and secondary market sale. We know not every bank is the same, we tailor our program to fit your needs so you can do SBA Your Way.

SBA GUARANTEE

BORROWER ELIGIBILITY

Mitigate your credit risk with up to a 90% guarantee on SBA 7(a) loans.

Most for-profit businesses are eligible for SBA 7(a) financing.

SECONDARY MARKET Sell the guaranteed portion of the loan on the secondary market for immediate fee income and liquidity.

LENDING EXPANSION Increase your capability to attract, brand and cultivate profitable commercial banking services with an SBA 7(a) program.

Visit BankersBank.com to learn how our SBA program helps you stay competitive in your market.

608.829.5737 | SBABB@BankersBank.com | BankersBank.com

EXTEND LEGAL LENDING LIMIT The guaranteed portion of SBA loan does not count against your bank’s legal lending limit.

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