Banking equipment vendor NCR Corporation calls the ITM a “branch in a box.” Among its functions, according to NCR, an ITM can be used to: get cash, deposit checks, cash checks to the penny, handle bill and loan payments, transfer funds to any account, order replacement cards, process savings bonds and redemptions, process CD renewals and inquiries, and issue money orders. Bank of Luxemburg placed its first ITM in a local grocery store in January of “Ultimately2021.it’s the flexibility that we are hoping to bring to our customers to allow them to do some banking not only outside the traditional banking business hours per se, but also to give them the convenience — going to the grocery store and having it there,” Schwalen said.
(continued on p. 22) ITMs Are Catching On With Bankers, Customers PRSRTSTD U.S.POSTAGE PAID UMS WisconsinBankersAssociation 4721SouthBiltmoreLane Madison,WI53718 SEPTEMBER 2022 WISCONSIN BANKERS ASSOCIATION FOUNDED 1892 By Paul Gores While some financial institutions still are toin-branchaspeakATMsenhanced-functionstrategy.partansayinvestedalreadybanksWisconsinmachines,telleractiveinter-installwhetherconsideringtothathaveinITMsthey’rebecomingincreasinglyimportantoftheirbusinessITMs—essentiallythatletacustomerwithatellerviavideoscreen—allowemployeesfocusonhigherInteractive teller machines (ITMs): the convenience of an ATM plus personal service
Lisa Schwalen, retail market manager for Bank of Luxemburg. “It can change the PIN on your debit card. Loan payments. Really, anything you can pretty much do over the teller line, you can do at the ITM.”
Bank of Luxemburg now has two other ITMs, including in a branch drive-through lane, which is how many banks are using them. The ITM essentially replaces the old tube system for exchanging checks and cash between a driver and a teller inside the branch. At Madison’s Park Bank, ITMs are in the drive-through lanes.
“An ITM can do deposits, withdrawals. It can change the PIN on your debit card. Loan payments. Really anything you can pretty much do over the teller line, you can do at the ITM.” — Lisa BankretailSchwalenmarketmanagerofLuxemburg
saidmoreconveniencewithdrawals.werebranchespandemiccoronavirusshutdownin2020,theyagodsend.“Itcandodeposits,Ithastheofhavingthanjust$20s,”
AddressServiceRequested level interactions with customers while the technology handles routine transactions, bankersWisconsinsay. bankers using ITMs say their customers, in an increasingly videodriven world, want them and quickly become accustomed to them.
And they note that when the
“We’ve ripped out the tubes and put them in our drive-ups,” said Jeff Kurek, vice president of information and cyber security for ParkParkBank.Bank had ITMs in place before the word “COVID” became part of everyday life. “They were great during the pandemic,” Kurek said. “During the pandemic, the lobbies were all shut down. We were told to shut down. And we had employees who still had jobs to do. So the customers went up to the ITM. They could open up a bank account if they’d so choose.
» An Adrenaline report from 2021 found that large majorities in all generat ions thought they would be extremely or very comfortable using an ITM: Millennials, 86%; Gen X, 85%; Gen Z, 80%; and those 55 and older, 72%.
This year’s annual conference will be held September 20 and 21 at Glacier Canyon Lodge in Wisconsin Dells and features a unique variety of speakers.
LLC. Member FDIC
The conference specifically targets BSA/AML, operations, security, and technology banking professionals looking to remain educated on our ever-evolving industry.
CALL US TODAY TO LEARN MORE Mike Colloton Milwaukee 262 792 7180 Pete Lowney Madison 608 232 5987 FIRST BUSINESS BANK FUELS EXPANSIONACQUISITION,TURNAROUND,ANDSOLUTIONS
By Daniel J. Peterson
As the last several years have shown, a growing number of consumers throughout the state rely on technology and online banking for their day-to-day needs. It is critical that, for continued success and relevance of our industry, bankers are aware of not only how best to serve our customers through offering modern banking amenities, but how to best protect our communities from increasingly more sophisticated — and prevalent — fraudsters.
2 SEPTEMBER 2022
Peterson is president and CEO of The Stephenson National Bank & Trust, Marinette, and the 2022–2023 WBA Chair.
From local professionals and WBA Associate Members to world-famous cyber security expert and ethical hacker Bryan Seely, WBA’s Secur-I.T & BSA/AML Conference will assist banking teams in understanding how best to protect against hackers, what trends to watch for in money laundering, and so much more. This is an event you don’t want to miss!
For this purpose, in addition to ensuring that all Wisconsin banks remain a safe, secure place for finances and sensitive information, the Wisconsin Bankers Association (WBA) will once again host a combined Secur-I.T. & BSA/AML Conference.
By engaging in conferences such as WBA’s Secur-I.T. & BSA/AML Conference, bank leaders can ensure their staff is gaining the most relevant and up-to-date banking-related information from the most knowledgeable individuals in the industry Along with over seven hours of presentations focused on the safety and security of our banks and customers, bankers will enjoy networking with professionals from across the state and meeting with exhibitors offering products and services that help community banks further advance their customer servicePleasecapabilities.visitwisbank.com/ Secur-IT to register or for additional details.
We help companies overcome financial obstacles through innovative asset-based lending solutions, focusing on small- and mid-market companies in transition with credit requirements up to $16,000,000.
As technology continues to advance faster than ever before, the importance of staying up to date on the latest trends and best practices for the safety of both the bank and its customers is quickly becoming the number one concern for Wisconsin bankers.
Message from the Chair the Safety and Security of Wisconsin Communities Message from the Chair Daniel PetersonJ. Learn more about upcoming WBA conferences, schools, webinars, and workshops on pgs.16 or 24 or by visiting wisbank.com/education
firstbusiness.bank/abl First Business Bank offers Asset-Based Lending solutions through its wholly owned subsidiary, First Business Specialty Finance,
Ensuring
www.bell.bank Member FDIC 34607 Reg. O loans | Holding company loans & lines of credit | Equipment financing | Participation loans Whether your loan is large or small, get faster turnaround from our experienced correspondent team. Partner with Bell for: Participation loans Bank stock and ownership loans Holding company loans and lines of Reg.creditOloans to bank employees, insiders or directors Equipment financing Denise Bunbury Call me at 608.234.1438 –Based in Eau Claire, Wis. Serving Wisconsin, and the U.P. of Michigan 34607 AD Wisconsin Bankers Association 2022_Denise.indd 1 3/28/22 4:12 PM SEPTEMBER 2022 3
PERSISTENT INFLATION
•Will interest rate expectations change?
Long considered stable, and recently “transitory,” inflation persists at 40-year highs. Though assumed to recede, variables for consideration include:
As expected, the Fed recently began tightening monetary policy, projecting a significantly higher target rate ahead. As this cycle ages, it’s important to monitor the shape of the curve, as well as the relative performance across spread and risk assets. A key topic with clients involves how potential rate changes impact the balance sheet and investment portfolio, with Musbach and his team helping institutions anticipate and plan for all rate scenarios. Among considerations are effects of a flatter curve or depositto-loan pricing adjustments. Musbach said, “We ask if clients have a forward-looking, adaptable strategy to perform best in differing rate environments, as relying on current projections may prove costly.”
Financial institutions also must counter shrinking margins, as pandemic-related activity and fees only softened the blow of a worsening industry trend—and it’s important to consider any longer-term margin levers to pull.
•Will supply chain issues ease?
“Our goal is to understand each individual institution, provide actionable insight and strategy, ultimately leading to decisions that suit the client, their goals and objectives best.” -Marc Gall. Sign up to receive invitations to upcoming webinars. Go to bokfinancial.com/webinars or scan the QR Code.
Uncertain economic times lead to market volatility and shifting rates, calling for an active, tailored and disciplined approach to balance sheet management. Our Financial Institutions Group works with community banks and credit unions, providing guidance to meet the unique needs of institutions, their goals and risk profiles. Trusted financial experts should provide actionable insight that helps keep senior management focused on what matters most—our goal is to help clients formulate a strong, flexible strategy to avoid impacts to earnings and maximize performance.
Understanding balance sheet impacts in uncertain times
COMPRESSED NET INTEREST MARGIN
4 SEPTEMBER 2022
RISING INTEREST RATES
•Will hiring accelerate? As Musbach observes, the stock market or housing could react negatively, and an economic slowdown may occur. Alternatively, consumers may tap savings, heating up inflation.
Bank dealer services offered through Institutional Investments, Bank of Oklahoma, which operates as a separately identifiable trading department of BOKF, NA. Services may be offered under our trade name, BOK Financial Institutions Group. BOKF, NA is the bank subsidiary of BOK Financial Corporation. Some services may be offered through BOK Financial Securities, Inc., member FINRA/SIPC, and an affiliate of BOKF, NA. Investment products are: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
Kent Musbach, SVP and team lead, as well as Marc Gall, VP and A/L strategist, share a glimpse of recent client discussions.
Yes, depending on policies and procedures. WBA frequently receives questions regarding the ability of minors to enter into a contract. No rule or regulation prohibits a bank from contracting with a minor. However, a minor can escape liability under the contract. Meaning, a minor could avoid liability from a bank seeking to hold a minor accountable for terms under the contract. Thus, banks are free to enter into contracts with minors, but must decide so as a matter of risk.The ability of a minor to escape liability or void a contract is often referred to as the doctrine of incapacity. This is a common law term, meaning, generally, a concept under the law that is derived from judicial precedent rather than statute. As such, there is no specific rule governing contracting with a minor. It also means that there is no specific point at which a minor is deemed “competent.”
Development Financing Test, be as flexible as possible in their updated CRA assessment area approach, raising the thresholds for determining delineation of the retail lending assessment areas, and implement a consistent Legal Hotline: The WBA Legal Department does more than address legal concerns for the Association; it provides tangible assistance to member banks via its free legal call program. The Association’s team of attorneys work to relieve some of the industry’s compliance pressure as a timely resource for a wide variety of legal inquiries. Submit your legal inquiry via email (wbalegal @wisbank.com) or by calling the legal hotline at 608-441-1200. Should Your Bank Approach Contracting With Minors? policies, procedures assist in determining the risk associated with minors BirrenkottScott
WBA also emphasized that the agencies need remain mindful that the amount of data to be collected, reported, maintained, and disclosed under the proposal drains banks of resources.
By Scott Birrenkott Can Banks Contract with Answer:Minors?
Birrenkott is WBA director – legal. For legal questions, please email Note:wbalegal@wisbank.comTheaboveinformation 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.
definition of “small business” throughout the regulations.
the agencies reconsider several items, including: raising the asset threshold for large banks under the Retail Lending Test and Community
If a minor attempts to escape liability under contract, it would be up to the bank to attempt to enforce the contract against the minor, and up to a court to decide. It is important to understand the theory behind the doctrine of incapacity. Generally speaking, the theory is that a minor has not developed enough to understand the significance of contracting and thus may potentially escape liability. Because it is not readily defined, a court could find that someone who has attained the age of 18, or older, still hasn’t matured enough to understand that significance and might be permitted to void the contract. When it comes to minor accounts, WBA generally recommends that banks consider the use of a WUTMA account. A WUTMA account is created under Wisconsin’s Uniform Transfers to Minors Act, which provides certain requirements, procedures, and responsibilities. Thus, it creates a means for a bank to open an account with an understanding of what rules apply to the relationship between the minor, the adult custodian, and the bank. While WUTMA provides for this certainty, banks should be careful before opening custodial accounts that are not governed by WUTMA, as it would leave questions as to how the account would be handled.Asaresult, banks must decide, as a matter of business and policy, whether they are willing to contract with minors. This includes both deposit and loan account relationships. For the above reasons, financial institutions should consult with their policies and procedures regarding contracting with minors. For any questions on this, or other matters, you may reach WBA legal at wbalegal@ wisbank.com or 608-441-1200.
SEPTEMBER 2022 5
Visit www.wisbank.com to learn more about this topic and other compliance-related issues.
Q&ACompliance
WBA Files Comments on Proposal to Revise CRA
Summary of a recent comment letter below WBA filed comments with FRB, FDIC, and OCC regarding their joint proposal to revise the basis,changesCRAeffortsstatedregulations.ReinvestmentCommunityAct(CRA)WhileWBAsupportoftheagencies’tomodernizetherulesandtoproposeonaninteragencyWBArecommended
For copies of this or other WBA comment letters, please contact the WBA Legal Department at 608-441-1200 or visit wisbank.com/CommentLetterswww.
View this and previous comment letters filed by WBA at www. wisbank.com/CommentLetters
Q A How
Bank
U.S. Senate Race
In the GOP primary for governor, construction business magnate Tim Michels (R-WI)
30% of the vote with state Sen. Patrick Testin being his closest challenger in a large primary. On the Democratic side, Rodriguez defeated Peng Her, Hmong Institute CEO, with 76% of the vote. Both candidates outspent their opponents and won by double-digit margins.
By Lorenzo Cruz
Joining the governor’s ticket for lieutenant governor are state Sen. Roger Roth (R-Appleton) and state Rep. Sara Rodriguez (D-Milwaukee). Roth won
» State Sen. Brad Pfaff (D-Onalaska) will face off against GOP military veteran Derrick Van Orden in the Third Congressional District.
The Trafalgar Group had the race at a statistical dead heat in their August statewide survey before the primary, however Michels won by a sizable number of votes and garnered 47% to Kleefisch’s 42% — a margin of victory exceeding 35,000Michelsvotes.won 62 of the 72 counties while Kleefisch significantly underperformed in southeastern Wisconsin, a key area where she needed to do well. Michels’ Trump endorsement, a $12M self-funded war chest, and an effective business outsider message proved too much to overcome for Kleefisch, endorsed by Pence and Walker. Michels will face incumbent Governor Tony Evers Kleefisch urged her supporters in the concession speech to get in the fight against Evers. Evers has portrayed Michels as part of the radical right, a divisive extremist, and a Trump fanatic on abortion, voting rights, gun safety, and public education.
Gubernatorial Primary
Lorenzo Cruz
Prepare for Upcoming General Election
Membership engagement remains an important advocacy priority as we continue through WBA’s fiscal year. By becoming involved with WBA’s Gold Triangle Club or naming an Advocacy Officer at your bank, you are one step closer to achieving WBA’s highest recognition for overall advocacy effort — Bankers Involved in Grassroots and Government (BIGG) Award.
Wisconsinites
How your bank can best engage with pro-banking candidates UpdateAdvocacy
»Learn more about WBA’s staff political fundraiser on p. 7.
The Cook Political Report considers Wisconsin one of four toss up states for the gubernatorial race. Democrats and Republicans are vying for the governor’s veto power and gaining or blocking super majorities in the legislature. Candidates, political parties, and outside groups are expected to spend hundreds of millions to win control of Congress, the governor’s office, attorney general, and the state legislature.
To learn more about WBA’s political funds, please visit wisbank.com/give or contact me at lcruz@wisbank.com
defeated former Lt. Gov. Rebecca Kleefisch (R-WI) to advance to the general election.
» Republican nominee Amy Loudenbeck (R-Clinton) will battle long-time Secretary of State Doug LaFollette (D-WI).
» In three key contested GOP state Senate primaries, Rachel Cabral-Guevara (R-19), Jesse James (R-23), and Cory Tomczyk (R-29) came through victorious. your bank is on track to be honored as a Gold Triangle Club bank or BIGG Award winner by contributing at
NOTABLE PRIMARY RACE RESULTS » Ensure
» Senate Majority Leader Devin LeMahieu (R-Oostburg) captured 74% of the vote.
Speaker Robin Vos (R-Rochester) Trump-endorseddefeatedchallenger Adam Steen (51% to 49%).
Membership-driven political activism is the most effective and vital tool to the success of our Association. Help WBA provide bankers a seat at the table and influence policy decisions impacting the banking industry in Wisconsin by raising our participation this year!
»
» Incumbent Attorney General Josh Kaul (D-WI) will take on GOP primary winner Eric Toney
Cruz is WBA vice president – government relations.
It is critical that bankers continue to engage in the political process to support pro-banking and pro-business legislators. The Wisconsin Bankers Association (WBA) urges the membership to continue to give to the PAC, conduit, or the issue advocacy fund. WBA has set an ambitious PAC/conduit fundraising goal of $300,000 by the end of the year. As of August, WBA members have contributed $151,000 to WBA’s advocacy efforts. Additionally, WBA staff donated over $12,000 during a two-week campaign. We thank you for your continued generosity and eagerness to assist WBA in reaching its goal. If your bank has not already contributed, please consider doing so before the November general election.
wisbank.com/give. 6 SEPTEMBER 2022
» Retired bank executive Jerry O’Connor (RFond du Lac) won in the 52nd Assembly district.
In the U.S. Senate race, Lt. Gov. Mandela Barnes (D-WI) secured the Democratic nomination with 78% of the vote after his top rivals bowed out of the race in an unprecedent move to align the Democratic voters behind him more than a week out from the Barnesprimary.willface incumbent U.S. Sen. Ron Johnson (R-WI) in a race that could determine majority control in the U.S. Senate. Johnson’s campaign looks to tie Barnes to some struggling national issues such as inflation, economy, crime, and education. On the other hand, Barnes will aim to link Johnson to extreme positions on education, abortion, taxes, and guns. Make Your Voice Heard With the primaries in the rear-view mirror, the winners turn their attention and resources to the fall general elections in November.
This year, turnout for the August primary in Wisconsin hit over 25% — the best performance in 40 years. As over 690,000 voters cast their ballots in the hotly contested GOP gubernatorial primary and over 500,000 voters cast theirs in the Democratic U.S. Senate primary, Wisconsinites can expect lots of activity as we near this November’s primary election.
Message
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At the heart of the Wisconsin Bankers Association’s (WBA) mission is advocating on behalf of Wisconsin’s banking industry. In the last year alone, WBA has taken action in combating credit card fees, increasing instances of elder fraud in our communities, legislation that would expand credit union powers, a looming recession, and so much more. It’s no secret that WBAmember banks play a significant role in the support of our Association. Between political contributions that help further engage our legislators or by participating in Capitol Day, organizing a “Take Your Legislator to Work Day”, or testifying on a bill — the engagement shown by our membership has been staff was collectively able to crush our goal of $7,000 and raise over $12,350 this year This amazing feat by our team highlights the commitment each WBA staff member has to the industry and our membership. If you would like to join the WBA staff and the many generous member banks and Associate Members that have already contributed this election season, I encourage you to visit wisbank.com/give to make a political contribution to WBA’s PAC, conduit, or issue advocacy fund. By doing so, you play a significant role in assisting our Association in carrying out its mission of promoting a healthy environment for banks in Wisconsin. in which the funds raised are used to help support probanking political candidates, welcomed staff donations (though participation was not required) by way of a specified contribution from payroll, a check made out to one of the funds, or the purchase of one or more Jeans Day stickers for a casual dress day at the office. All money raised directly aids in WBA’s advocacy efforts. For their generosity, and to celebrate Wisconsin’s beloved county fair season, WBA hosted a fair-themed week of events. Ranging from a blue ribbon bake off to games and a cornhole competition, every staff person was able to participate in activities and win prizes. I am proud to announce that our small but mighty paramount in advancing WBA’s efforts over the last 130 years. I am also lucky to say that, in addition to the thousands of bankers throughout the state who engage with WBA, our Association is also made up of nearly 50 individuals who, like you, are sincerely dedicated to our state’s banking industry.
Earlier this month, WBA hosted its annual staff fundraiser in support of Wisbankpac and the Alliance of Bankers for Wisconsin (ABW) — two critical methods of promoting advocacy for the Wisconsin banking industry. This timely event, from WBA President and CEO Rose Oswald Poels Year for WBA Staff Advocacy
A Record-Breaking
By Rose Oswald Poels Since the enactment of the Dodd-Frank Act in 2010, WBA has assisted members in understanding and implementing countless layers of new federal regulations — some as straight forward as creating and delivering a new one-page notice, others much more complex, including TRID, mortgage servicing rules, and QM/ATR underwriting standards (and those are only the most recent of new laws).
thedataforproposalregardingInwillunderstandbyCollectionSmallwillitcourtregulatoryandSectionbeHMDAActHomeandsimilarSomeandDataapplicationschangeThisaafterTRIDandmortgagedisclosuresandcourse,live-timecentralizedtoday’sencodingaimplementedandrecallCC,Secrecyregulationsindustry-changingsuchastheBankAct(BSA),RegortheSAFEAct.Icanpre-BSAprocedures,nowweoperateinanBSAworld;timeofin-branchcheckandprocessingtoelectronicpresentment,clearing,andnearprocessing;andofatimewhenTILARESPAwereseparateversustoday’sloanapplicationclosingproceduresduetorules.ThesamewillbetruefullimplementationoffinalSection1071rule.law,oncefinalized,willhowbusinesscreditareprocessed.willneedtobecollectedreportedasneverbefore.membersexperiencetypesofdatacollectionreportingundertheMortgageDisclosure(HMDA),butevennon-reportingbanksmayrequiredtocomplywith1071datacollectionreporting.Baseduponrecentagencyagendafilingsandfilingsearlierlastmonth,isexpectedthatCFPBfinalizeitsSection1071BusinessLendingDataandReportingRuleMarch2023.Restassured,Itheimpactthisrulehaveonthemembership.mycommentlettertoCFPBitsSection1071inJune,IadvocatedthecollectionofonlythosepointsrequiredunderDodd-FrankAct,ahigheris that of Section 1071. As a reminder, Section 1071 of the Dodd Frank Act amended the Equal Credit Opportunity Act (ECOA) to require that financial institutions collect and report to the Consumer Financial Protection Bureau (CFPB) certain data regarding applications for credit for women-owned Iindustryandminority-ownedbusinesses,businesses,smallbusinesses.Havingbeeninthisforoverthirtyyears,willsaythattheforthcoming Toolkits and other resources created by WBA can be accessed at wisbank.com/ resources/compliance. Ease into innovative payment products at icba.org/bancard Ease into modern payments with the comfort of ICBA Bancard. High quality, innovative payment products, including mobile cardBackupapps.support for your community bank in negotiating with paymentsLettingproviders.your customers sit back and use payment solutions from anywhere. A strong foundation in thought leadership in payments and ongoing personalized support. WBA President and CEO OswaldRose Poels » orWBAupcomingHavequestionsaboutCFPB’sruling?ContactLegalat608-441-1200 wbalegal@wisbank.com. WBA Stands Ready to Assist Members Final CFPB Section 1071 rule expected March 2023 8 SEPTEMBER 2022
business data collection and reporting regulation is of the magnitude — both in cost and in operational impact — of what bankers experienced with the implementation of other
Oswald Poels is WBA president and CEO and can be reached at ropoels@wisbank.com.
An area of the Dodd-Frank Act that much of the industry has been anxiously awaiting exemption threshold, and for a longer implementation period to help lessen the impact of the newLateregulation.lastyear, WBA prepared a toolkit to help senior withofficers,processors,commercialmanagement,lenders,loancomplianceandothersinvolvedsmallbusinesslending to better understand the impact of CFPB’s proposal on the bank. Those resources are still available, and I would recommend those in the areas mentioned become familiar with the general concepts of the proposal, understand what could become law, and begin considering the impact on the bank. Planning will be crucial with a regulation as impactful as what Section 1071 will be. In addition to being vocal during the regulatory process on Section 1071, WBA has advocated for repeal of Section 1071 with our congressional delegation for the last 10 years. Although it is late in the session, I am pleased to share that Rep. Scott Fitzgerald (WI-05) introduced on July 20 the Making the CFPB Accountable to Small Business Act which would repeal Section 1071 of the Dodd-Frank Act. Rest assured, WBA will continue its strong advocacy at all levels to try and reduce this regulatory burden. In the meantime, WBA plans to create further resources once the final rule is released and will help answer questions related to the new regulation.
WBA Leaders in Banking Excellence Honored
WBA is proud to honor the third class of WBA Leaders in Banking Excellence. An award presentation was held for the five honorees, along with Class of 2020 honoree Richard Pamperin, and their families and friends on September 9 at the WBA 2020,EstablishedOffice.inthe WBA Leaders in Banking Excellence celebrates exceptional bankers from throughout Wisconsin’s history. Through this program, current and former banking leaders who have helped shape our state’s banking industry are honored with recognition as a fixture on the Wall of Excellence. A brief biography for each honoree is below. Read complete biographies at excellence2022wisbank.com/ or stop by the WBA office in Madison to view the Wall of Excellence in person! Business Bancshares, Inc. and Community Business Bank. Later in her career, Debra served in leadership roles for several banks including as director of MidAmerica Bank, CEO/ director of Markesan State Bank, and as CEO/president/ director of First National Bank of Muscatine in Iowa. Debra has served on the Boards of WBA, FIPCO, and WBA Agricultural Bankers Section. She was also appoint ed to serve on the American Bankers Association’s Com munity Bankers Council and ABA’s Membership Council.
Robert J. Just, Jr. Robert J. Just, Jr. began his service to Mound City Bank, Platteville as a teller in 1971, and served as president and CEO from 1986 until 2013. He continues to serve as a director of the bank and chairman of the Board, with over a half century in banking. Bob solidified his passion for independent community banking by serving on the Bankers’ Bank of Wisconsin Board of Directors from 1992–1998. He also served on the Community Bankers of Wisconsin Board of Directors in 2001. Bob served on the WBA Government Relations Commit tee and also served as chairman. He was elected to the WBA Board of Directors, serving from 2005–2013, and as chairman in 2010–2011. As a dedicated advocate for the banking industry and for economic development, Bob has made long-lasting contributions to prosperity in Wisconsin.
Lins Schmalz
Pamperin Richard (Dick) Pamperin’s banking career spanned over 55 years, beginning in 1964 with PCA in Green Bay, followed by positions with FIC Bank of St. Paul, Minnesota and Gillett State Bank. In 1978, he joined Marion State Bank, now known as Premier Community Bank, serving as president for 27 years and chair of the Board through 2018. He served the WBA as a member of its Board of Directors, the American Bankers Association (ABA) as chair of the Community Bankers Council, and served on the boards of directors of four other community banks. His recognitions include Community Bankers of Wisconsin’s (CBW) Community Banker of the Year in 1991, ABA’s Bruning Award in 2007, and the Wisconsin State Legislature in 2008 for over 40 years of exemplary service. Class of 2020
SEPTEMBER 2022 9
Debra R. Lins began her bank ing career at the Federal Land Bank Association of Baraboo in 1979. She then served in several capacities for Farmers & Citizens United Bank in Sauk City. She assisted First Business Bank of Madison in its start-up phase and then served as vice presi dent/senior lender. Debra went on to become the first woman to open a de novo rural bank in Wisconsin. She was founder, CEO/president and charter director of Community
In 2012, he began his appointment to the Board of Directors of the Federal Home Loan Bank (FHLB) of Chicago, and was elected as FHLB Chairperson in 2019. Lee J. Schmalz Lee J. Schmalz began his more than half-century career in banking as a Saturday teller/ janitor. His first full-time position was with East Wisconsin Savings Bank, Kaukauna in 1962. Lee loved working with his dad, Leo, and passed along the family tradition to his son, Charlie. Many values and life lessons were shared across the generations at the bank. Lee’s industry contributions include serving as chair of the Wisconsin League of Financial Institutions (WLFI). He played an instrumental role in merg ing WLFI with WBA and went on to serve on the WBA Board of Directors. Lee also served as a Governor’s appointee on the Savings and Loan Review Board for many years.
Just Reinke Wigdale
John K. Reinke John K. Reinke began his banking career in 1974 with The Stephenson National Bank & Trust in Marinette. He helped build the bank’s commercial lending depart ment and was named president in 2000 and chairman of the Board in 2013. John has served the banking industry through his role on the WBA Board for six years, including as chairman in 2006–2007. He also served as chairman of the Community Economic Development Com mittee and as a delegate on the American Bankers Association Government Relations Council Administrative Committee.
Debra R. Lins
James B. Wigdale James B. Wigdale’s 42-year career in banking began in 1961 as an assistant cashier at M&I Bank, where he would advance through the commercial bank ing department and a variety of executive positions to eventually become CEO and Board chair in 1991. He retired as CEO in 2001 and as chair in 2004. He helped build a culture that was steeped in business ethics, hon esty, partnership, and integrity. As a trusted business leader, Jim served on the Boards of Directors at a number of com panies, as well as Metavante, and M&I Bank. He was also a highly engaged advocate for Wisconsin’s banking industry and supported extensive involvement in WBA.
Above (circle): WBA Chair Dan Peterson. At left: Rep. Terry Katsma (red shirt) and several WBA Board members.
Seventeenth Annual WBA Chairman’s Member Appreciation Golf Outing
On August 18, over 150 bankers from 78 banks joined WBA staff and event sponsors on the links at Trappers Turn Golf Club in Wisconsin Dells for the annual WBA Chairman’s Member Appreciation Golf Outing. Thank you to all the bankers who participated! In his brief remarks to the golfers, WBA 2022-2023 Chair Dan Peterson encouraged attendees to continue to deepen their membership engagement and emphasized the importance of taking part in WBA’s advocacy efforts.
Aug. 18, 2022 • Trappers Turn Golf Club • Wisconsin Dells
A special thanks to our event speaker State Representative Terry Katsma (R-Sheboygan) for an update on the recent August primary, November 8 general election, and general political insights.
WBA extends a sincere thank you to the 33 event sponsors (listed below) who made this event possible.
Thank You, Golf Outing Sponsors • BMO Harris Bank — Correspondent Banking • BOK Financial Institutions Group • Bankers’ Bank • Bell Bank • Boardman & Clark LLP • Cinnaire • FHLBank Chicago • FIPCO • ICBA Services Network® • Midwest Bankers Insurance Services • WBA Insurance Services •UFS LLC • Wipfli LLP Gold Associate Members Silver Associate Members 10 SEPTEMBER 2022
August 17, 2023 Trappers Turn Golf Club • Wisconsin Dells Above: WBA Executive Vice President – Chief of Staff Daryll Lund (right), tapes a video message for WBA President and CEO Rose Oswald Poels, who was unable to attend. Join Us Next Year Thank You, Golf Outing Sponsors Bronze Associate Members Associate Members •Arctic Wolf Networks •BHG Financial •The Baker Group • Bank Compensation Consulting • Eide Bailly LLP® •Executive Benefits Network • AmTrust Financial • First Business Bank •Generations Title •Ironcore, Inc. •Godfrey & Kahn S.C. • JMFA • Plante Moran • Quad City Bank & Trust • Reinhart Boerner Van Deuren s.c. •SHAZAM® • VGM Forbin •New Era Technology •Remedy•PCBB •UnitedHealthcareConsulting® • GOLF SPONSORSHIP: Interested in being a sponsor? Contact WBA’s Nick Loppnow at nloppnow@wisbank.com for more information about WBA’s Associate Member Packages! SEPTEMBER 2022 11
themanynon-financialisdecadesmanagedorinstitutions,Wisconsin’sWBAappreciated,SECdisclosuresclimate-relatedthroughexistingrequirementsisinitscomments,highlightedthatfinancialpubliclytradednot,havesuccessfullycredit-basedriskforandthatthisproposalprimarybuiltonsupplyinginformationthatbusinessesdonothaveresourcestoprovide.
»View WBA’s recent comment letters by visiting wisbank.com/ commentletters.
Ensuring Consistency
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.
While several agencies, including SEC and the Office of the Comptroller of the Currency (OCC), have already acted on risks related to climate change, Acting Director of the FHFA Sandra L. Thompson said in a statement released in December 2021 that FHLBanks are encouraged to designate climate change as a priority and actively consider its effects in their decision making. The FHFA also created a new Conservatorship Scorecard which assesses Fannie Mae, Freddie Mac, and Common Securitization Solutions on their ability to promote sustainable and equitable access to affordable housing while operating in a safe and sound matter.
Both the OCC and the Federal Deposit Insurance Corporation (FDIC) have issued draft principles that provide framework for the management of climate-related financial risks by banks with more than $100 billion in total consolidated assets. Although either draft has yet to be finalized, the Wisconsin Bankers Association (WBA) issued a comment letter in June to members of the FDIC warning of the potential negative impact this draft may unintentionally have on smaller, community banks and the communities they serve. In addition to commenting on the FDIC’s draft principles, WBA joined the Independent Community Bankers of America (ICBA) and several state banking associations from around the country in expressing concerns related to the FDIC’s proposed statement of principles highlighting the effects of large financial institutions being pressured or required to “de-risk” their loan portfolios. The ruling in its current state has the potential of excluding lawful but climate disfavored customers or industries from the financial system. This year, the SEC has also proposed two climaterelated disclosure rulings that Wisconsin bankers should consider for investment purposes. The first proposal — the Enhancement and Standardization of ClimateRelated Disclosures for Investors — focuses specifically on requiring registrants to include certain climate-related disclosures in their registration statements and periodic reports. While the approach to release
In an effort to preserve America’s unique, natural resources, promote public health and safety, and extend the positive growth in our economies, regulators across the country have turned their focus to Presidentrisks.climate-relatedunderstandingfinancialInJanuary2021, Joe Biden issued an Executive Order relating to protecting public health and the environment. As a result, many key banking regulators and Wisconsin officials have announced advisories, statements, and proposals of their own to aid banks and other industries in mitigating the effects of climate change on the economy.
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.
(continued on p. 13) 12 SEPTEMBER 2022
CLIMATE-REL ATEDFINANCIALRISK
The Financial Stability Oversight Council (FSOC), in addition to establishing the Climate-related Financial Risk Committee (CFRC) which assists in identifying, assessing, and mitigating climate-related risks to the financial system and developing common approaches and standards, the Council has recently released recommendations to FSOC members — including the U.S. Securities and Exchange Commission (SEC), the Federal Reserve Board (FRB), and the Federal Housing Financing Agency (FHFA) — regarding their action on climate change data, disclosure, and scenario analysis.
WBA advises bankers to be aware of the potential for upcoming regulation at federal and state levels.
Regulators Look to Mitigate Climate-Related Financial Risk Wisconsin bankers prepare for forthcoming legislation, guidance
Proposed Federal Legislation
As sectors and jurisdictions in the financial system become increasingly more intertwined and supervisory and regulatory authorities continue to assess climate-related financial risks, the Financial Stability Board (FSB) has published draft recommendations in an effort to promote consistency throughout the financial system as well as to assist financial institutions in managing and mitigating climate-related risks. Final recommendations from the FSB are expected in the fourth quarter of 2022.
WBA Associate Member Program
By Hannah Flanders
An increasing number of Wisconsinites are growing concerned about climate change and its effects on the state’s key economic sectors — agriculture and forest product, fisheries, and outdoor tourism and recreation. Each year, these sectors continue to be negatively impacted as a result of increasing temperature, humidity, precipitation, and extreme weather events.
BHG Bank Network National Seminar Join us at the Naples Grande Resort for valuable insights on how BHG Financial can help Bank Network members navigate the current financial environment by setting their sights on success through our reliable suite of innovative solutions. NAPLES, FL | OCTOBER 17–19 SCAN NOW TO REGISTER We encourage you to register early, as we anticipate this event will fill up quickly. Take advantage of a chance to meet with hundreds of Bank Network members from across the country. Meaghan Kincaid // VP, Institutional Relationships 315.509.2635 • mkincaid@bhgbanks.com SEPTEMBER 2022 13 provide additional information regarding their ESG investment practices. Comments on this ruling were due August 2022. Wisconsin-Specific Efforts
For questions on legal developments or regulations related to climate change or other compliance matters, please reach out to WBA legal at wbalegal@wisbank.com or 608-441-1200.
Flanders is WBA writer/editor.
The second — Enhanced Disclosures by Certain Investment Advisers and Investment Companies About Environmental, Social, and Governance (ESG) Investment Practices — amended the ruling and forms under the Investment Advisors Act and the Investment Company Act. This would require certain advisers, investment companies, and business development companies to
In Wisconsin, Governor Tony Evers has highlighted combatting climate change is a key priority for the administration. Earlier this year, the Governor’s Task Force on Climate Change — a coalition of representatives from industries and communities across the state — recommended the creation of the Office of Environmental Justice within the Department of Administration (DOA).
The Office, supported by the first state-level chief resilience officer (CRO) in the Midwest — now serves as the state’s principal office in coordinating agency frameworks, strategies, and policymaking to ensure state action does not have an adverse or environmentaldisparateeffecton underresourced riskrelatedrulingbeguidance,thatbankersacrossindustriesanclimate-relatedshouldeffectsincludesinvestingfarInstitutionsDepartmentAdditionally,communities.theWisconsinofFinancial(DFI)hassoonlyreleasedanESGadvisorywhichanoverviewofitsandwhatinvestorsconsider.However,asriskbecomesincreasingconcernforandcommunitiesthestate,Wisconsinshouldexpectstate-leveladvisories,orlegislationmayforthcoming.Whilenohardandfastyetstandsforbankstoclimate-relateddisclosureseitheratthe
Please reach out to WBA legal at wbalegal@wisbank.com or 608-441-1200 for questions on legal developments or regulations related to climate change or other compliance matters. federal or state levels, WBA advises bankers to be aware of the potential for upcoming regulation on the topic.
Climate Financial Risk (continued from p. 12)
View WBA’s recent comment letters by visiting wisbank.com/CommentLetters
In addition to recommending that SEC repeal said proposal in its own comments, the Association joined nearly 100 supporting groups in signing onto the House Small Business Committee’s Republican-led letter to SEC demanding the rescission of the proposed ruling.
Manitowoc Bank First is pleased to announce that Amy DeMain (pictured) has joined as vice president – retail banking. Additionally, Kris Wychesit (pictured) has been promoted to retail banking officer.
Bulletin Board
Marinette Lynn Lowis (pictured) has been promoted to vice tions–depositpresidentopera-manager at The Stephenson National Bank & Trust (SNBT). Marshfield Jake Weinand (pictured) has joined Forward Bank as a vice president – market president.
RabitzWhite MeyerRoseMooreSukup RekauStone estate lender. Additionally, Cyrene Wilke (pictured) has been promoted to chief information officer.
News about people working in Wisconsin’s financial institutions
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.
Kari Zeinert (center), vice president – technology at Intercity State Bank in Schofield, was presented with a WBA Lifetime Service Award on June 28 by WBA’s President and CEO Rose Oswald Poels (left) The WBA Lifetime Service Award is in recognition of Zeinert’s 30 years of service in the Wisconsin bankingIntercityindustry.State Bank President Randy Bulk is pictured on the right.
Abbotsford AbbyBank is pleased to announce the hiring of Shawn Sukup (pictured) as vice president – commercial loan officer and Charles (Chuck) Rabitz (pictured) as vice president – agricultural loan officer. Additionally, Adam Rekau (pictured) has been promoted to senior vice president – senior loan officer. Brookfield First toBankBusinessispleasedwelcomeback
Promotions and New Hires
MurphyCarson
WBA Lifetime Service Awards were presented on June 30 to Bank of Sun Prairie’s Chief Credit Officer Dave Suchomel (center, left), and Chief Lending Officer Ron Blawusch (center, right), by WBA President and CEO Rose Oswald Poels for their respective 42 and 44 years in the banking industry. Bank of Sun Prairie President and CEO Jimmy Kauffman is pictured on the far left.
Fitchburg Donna Moore (pictured) has joined Oak Bank as commercial loan assistant. Fond du Lac National Exchange Bank & Trust has welcomed Rick White (pictured) as assistant vice president – mortgage loan officer. Additionally, Adam Stone (pictured) has been promoted to president of the Trust Division. Green Bay Associated Bank is pleased to announce that Derek Meyer (pictured) has been hired as the chief financial officer and Bryan Carson (pictured) has assumed the role of chief product and marketing officer. Horicon Horicon Bank is pleased to announce the additions of John Todryk (pictured) as senior vice president – business banker and Michael Stover (pictured) as senior vice president – commercial real
14 SEPTEMBER 2022
Craig Cerbins (pictured) as vice president –commercial banking. North Shore Bank has announced that Mary Rose (pictured) has joined the bank as a mortgage loan officer. Additionally, Michael Murphy (pictured) has been promoted to vice president – consumer lending.
WBA Lifetime Service Awards Presented to Schofield, Sun Prairie Bankers Cerbins Lowis (continued on p. 15)
Wausau Peoples State Bank has announced that Jessica Brown, CPA, has joined the team as senior vice president and chief financial officer and Bryan Wulk (pictured) has been hired as a mortgage lender.
LammersMartin Wilke JohnsonWulk
New Glarus The Bank of New Glarus is thrilled to announce the arrival of Julie Johnson (pictured) as vice president –ag/commercial lender. Oregon One Community Bank is excited to announce the recent promotion of Carrie Schraeder (pictured) to vice president – retail banking manager. River Falls been appointed chairman of the Latino Chamber of Commerce of Southeastern Wisconsin Board. Fond du Lac Linda Tagliapietra (pictured) celebrated 30 years of service at National Exchange Bank & Trust on June 22. Associate Member News Madison The U.S. Department of Treasury’s CDFI Fund has awarded Cinnaire $10 million through the Capital Magnet Fund, a competitive grant program designed to support the creation and preservation of affordable housing.
Bulletin Board News about people working in Wisconsin’s financial institutions Todryk SchraederEid
Community State Bank Breaks Ground on Waterford Location
Congratulations to Ellie Benson, Olivia Breidung, Tegan Bryan, Anna Fedie, Johan Harworth, Isabel Lebakken, Brooke Lechleitner, Ragan Pinnow, Summer Rufsholm, Bowen Rothbauer, Taylor Stanley, and Christine Zimmer
Bulletin Board (continued from p. 14)
First FBankNationalofRiverallsrecentlyannouncedthat Amy Weiss (pictured) has joined the bank as its new marketing officer. Waukesha Tim Lammers (pictured) has joined Waukesha State Bank as mortgage consultant and Erik Doucette (pictured) has been hired as commercial
First National Bank and Trust Company has announced that Tami Eid (pictured) retired on June 30 after serving 43 years in the banking industry. BrookfieldCongratulations Alfredo Martin (pictured), assistant vice president at North Shore Bank, has banking officer. Additionally, Anna Eby (pictured) has been promoted to bank manager of the Brookfield office.
ClintonRetirement
TagliapietraWychesitDoucette
Weiss Lehnberg
Wisconsin Banks Recognize and Award Scholarships to Class of 2022
Stover WeinandEby DeMain
Milwaukee announceis(Reinhart)DeurenBoernerReinhartVans.c.pleasedto that Laureen Lehnberg (pictured) has joined the firm’s consumer finance practice.
Eau Claire Security Financial Bank recently awarded 12 area high school graduates with scholarships to be used to further their education.
Oregon One Community Bank has announced recent high school graduates Lydia Gold, Mason Rake, and Sam Derrick as this year’s recipients of the 2022 OCB Scholarship.
On June 21, Union Grove’s Community State Bank (CSB) broke ground on the new CSB Waterford office inside of the Waterford Lofts located at 506 E. Main Street. The development is also part of the Community Development Investment (CDI) Grant Program offered through the Wisconsin Economic Development Corporation and will include luxury condominiums, as well as two large commercial spaces. The new location is set to open later this year.
Fond du Lac National Exchange Bank & Trust is pleased to announce the recipients of the National Exchange Bank 2022 scholarships offered to the children of its employees. Congratulations to Maggie Bartelt, Elizabeth Hayes, Kadin Jimenez, Levi Kesler, Jacob Mader, Savannah Manthey, David Mueller, Nathan Mueller, Kate Paltz, and William Riedeman.
SEPTEMBER 2022 15
SEPTEMBER 2022 •Internal Audit Workshop 1 Madison; $245/attendee •WBA/MBA Advanced Financial Statement & Cash Flow Analysis Workshop 7 Lansing, Mich. or virtual; $265/attendee •WBA/MBA Advanced Tax Return Analysis Workshop 8 Lansing, Mich. or virtual; $265/attendee •WBA/MBA Advanced C&I and CRE Lending Workshop 9 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 •Branch Manager Boot Camp: Session 1 22 4-part series; virtual half-days; $800/attendee •IRA Essentials Workshops 27 Madison or virtual; $245/attendee •Advanced IRA Workshops 28 Madison or virtual; $245/attendee •HR Workshop 29 Madison; $245/attendee OCTOBER 2022 •Principles of Banking Course 5–6 Mineral Point; $550/attendee •Commercial Lending School 12–14 Madison; $895/attendee •Midwest Trust & Wealth Management Conference 12–14 Plymouth, Mich. (multiple locations available) •Family-owned and Closely Held Bank Strategic Retreat 13–14 Madison; $245/banker attendee •Supervisor Boot Camp 18–19 Madison; $535/attendee •FIPCO Software & Compliance Forum: Loan & Mortgage 19–20 Madison or virtual •Branch Manager Boot Camp: Session 2 20 4-part series; virtual half-days; $800/attendee •Community Bankers for Compliance (CBC) — Session IV 25 Stevens Point; membership (pricing options vary) 26 Madison; membership (pricing options vary) •FDIC Bank Directors College 26 Wausau; $225/attendee 27 Madison; $225/attendee •Principles of Banking Course 26–27 Eau Claire; $550/attendee NOVEMBER 2022 •Personal Banker School 2–3 Madison; $495/attendee •BOLT Winter Leadership Summit 9 Wisconsin Dells; $150/attendee •Branch Manager Boot Camp: Session 3 10 4-part series; virtual half-days; $800/attendee •Compliance Forum: Session 2 15 Wisconsin Dells; annual membership (pricing varies) •LEAD360 Conference 16–17 Wisconsin Dells; $350/attendee DECEMBER 2022 •Branch Manager Boot Camp: Session 4 15 4-part series; virtual half-days; $800/attendee JANUARY 2023 •Branch Manager Boot Camp: Session 4 15 4-part series; virtual half-days; $800/attendee •Midwest Economic Forecast Forum TBD Virtual OCTOBER 2022 (continued) » Visit www.wisbank.com/education for more information and online registration. » Or email WBA Education at wbaeducation@ wisbank.com or call 608-441-1252. FULL 16 SEPTEMBER 2022 Conferences I Summits Schools I Boot Camps Seminars I Workshops WBA Webinars Other Events EDUCATION Calendar Your
414.298.1000 reinhartlaw.com/banking Reinhart’s multi-disciplinary Financial Institutions group brings together one of the Midwest’s deepest benches in banking law. Our experienced attorneys represent a comprehensive range of banking and financial industry legal services, all coordinated by a single touchpoint for you to simplify even the most complex challenges and opportunities. John Reichert jreichert@reinhartlawcom Melissa Y Lanska mlanska@reinhartlawcom Rebecca Greene Benefits Sara McNamara Bankruptcy/Restructuring Katherine Bills Commercial Real Estate Andrew Price Commercial Lending Experience in Many Directions SEPTEMBER 2022 17
While I am not a full-blown extrovert, I do very much enjoy working with and helping people — something I think many of my peers share with me, even if they are not the best at communicating it.
In a business scenario, the inability to pass along knowledge of the differences between options presented could lead to business leaders making decision based on what they can understand (usually financial cost). In the long term, making the wrong decision could require having to revaluate and revisit decisions before the end of their intended lifecycle.
Experiences Shape Us
Cynet
Avoiding Common Mistakes So, we see the problem, now how do we fix it? First and foremost, good communication is a two-way commitment. There is no shame in not understanding or asking for a clearer explanation. I promise that there are many aspects of the bank that the technology professionals do not completely understand. The knowledge many IT professionals are trying to pass along is not expected to be learned overnight and might not even be able to be conveyed in a single meeting. However, this information is often very important for leader to consider when making informed business decisions for the benefit of the organization.
By Rob Foxx, CCBTO Have you ever had a conversation with a member of your information technology or information security staff and after they left, wondered to yourself what they just said? You are not alone, and it is not an uncommon occurrence. This two-part series (the next to be released in the October 2022 Wisconsin Banker) will help non-technical and management staff better communicate with — and understand — technical staff. Before breaking down the best ways teams
18 SEPTEMBER 2022 (continued on p. 19)
of monitoring and control, attack prevention and detection, and response orchestration.fipcosales@fipco.com CYNET STOPS RANSOMWARE BEFORE IT STOPS YOU The Importance
In high school, I was given a career aptitude test that assisted my school advisor in determining what they would best recommend I do after graduation. I scored high in many areas; however, I did not have many social experiences with my peers and spent my days labeled as a “nerd,” which skewed my results and stated that I had a low score for interpersonal skills. My advisor suggested a career involving computers and technology, which would allow me to work independently and avoid much social interaction.
»Part one of a two-part series on learning how to communicate effectively about technology.
banks
have a strong understanding of technology or rely on technology experts. The major problem that often occurs with improper communication is failure to set, understand, and meet expectations. Ideally to set these expectations, experts should be able to both ask and understand business requirements and explain solutions to make informed decisions. This is something college does not prepare these experts for. In fact, it is something they have been told — either directly or by implication — is not important.
Though public speaking courses are often required in high schools, technical colleges, and universities, the classes often do not cover critical skills such as how to explain complex concepts to people who don’t have a baseline understanding of the requirements to understand them. In addition, many computer and technology students may only have experience communicating tech-related ideas and concepts with peers, causing a significant gap in communication and understanding between technical and non-technical individuals.
As the world’s first autonomous breach protection platform, provides complete automation of Communication: How to Understand Technology for the Non-Technical
Communicate Expectations Often the communication gap doesn’t seem as obvious in other majors or professions however, with the rise of technology in our daily lives and the increased use of computers and technologies to better facilitate and perform day-to-day tasks in nearly every industry, it is important that professionals either can improve their communication — we first should understand how we got into thisLikesituation.Iimage many people with computer and technology background did, I came from a more technical side of IT. There were two distinct points in my education where the need for communication skills were downplayed, if not ignored entirely.
FIPCO IT & Audit Services Rob Foxx
» Public speaking courses often don’t teach critic al skills — such as how to explain technical concepts to non-technical individuals.
Responsibilities, benefits new board members can expect
According to the Federal Deposit Insurance Corporation (FDIC), a bank’s board of directors is responsible for overseeing the institution’s business performance, selecting and retaining competent community’sinstitutionpolicies,complianceadequatelyensuremonitoringinpoliciesobjectives,long-establishingmanagement,theinstitution’sandshort-termbusinessadoptingoperatingtoachieveobjectivesalegalandsoundmanner,operationstothattheyarecontrolledandareinwithlawsandandensuringthehelpstomeetitscreditneeds.Joiningacommunitybank’sboardisasubstantialcommit-menttonotonlythebank,butthecommunityaswell.Itisessentialthatresponsibilities,suchasregularlyattendingboardandboardcommitteemeetings,areatoppriorityofeverymemberoftheboard.
» Bank regulations » National and local economy
The benefits new members experience upon joining the board of directors for a community bank range from building connections within the banking industry and expanding skills and knowledge to staying updated on local and national issues. In addition, this unique opportunity allows leaders to give back to their communities and promote economic growth andToprosperity.many,being elected as a community bank’s board member highlights those who have proven themselves as trustworthy, knowledgeable, and active leaders both in their business and throughout the community. By joining as a board member, community leaders contribute significantly to shaping the local economy and expanding the legacy of Wisconsin’s community banks.
A Guide to Joining a Community Bank’s Board
Benefits for Community Leaders
Desire to learn about:
Commitment to:
Solve competition, workforce challenges and digital disruption with insight and confidence.
By Hannah Flanders
What to Consider Before Joining a Bank’s Board of Directors
Visit wipfli.com/fi-tm Foxx is director – infosec and IT audit services for FIPCO. He can be reached at rfoxx@fipco.com or FIPCO608-441-1249.isaWBAGold
Associate Tech Communication (continued from p. 18)
Bank Director Resources: FDIC Bank Directors College Oct. 26—Wausau; Oct. 27—Madison wisbank.com/directorscollege FDIC Pocket Guide for Directors fdic.gov/regulations/resources/ director/pocket/index.html SEPTEMBER 2022 19
» The community Experience in: » Business, banking, or leadership » Also includes education or connectionsfinancial/business
» Professional development » Community growth Engagement with: » The bank (shareholders, other directors, committee members, staff)
Key Responsibilities Like any commitment, joining a bank board leaves individuals to consider many aspects of their willingness to engage with the organization, its shareholders, and bank employees; their understanding of (or desire to learn about) bank policy and regulation as well as the national and local economy; and what skills or experiences make them a qualified leader. A strong board member adds diversity to the table — be it through their experience or their perspective — and ultimately aids in the growth of the bank.
Flanders is WBA writer/editor.
Perspective changes everything.
Member
outlookFrom outcomes.to
Community banks serve a unique and important purpose in every Wisconsin community by directly supporting the growth and stability of small businesses and families. With a mission of reinvestment, it is critical that Wisconsin’s community banks are led by individuals who share similar values to the institution, are knowledgeable of the community, and have experience in banking or local business. As community banks across the state look to recruit new board members and enhance their strategic planning for the coming year, an increasing number of community leaders who are recruited for their knowledge and skills are curious — and rightfully so — of what responsibilities they will take on as a member of the board.
Frustration and lack of understanding can be the enemy of all productivity and growth within the organization — don’t pretend to understand a topic. Rather, non-technical individuals should ask follow-up questions or for explanations of terms that are not understood. This will assist every computer and technology professional in more effectively relaying IT-related information to all.
Fiduciary responsibility: » Trustworthy, objective, responsible, and efficient
»Call Rick Gerber or Ryan Gerber at 1-866-282-3501 or email rickg@chippewavalleybank.com ryang@chippewavalleybank.com Calling1.us is the first step. 2. You email us the appropriate documents of information. 3. CVB preparing the loan documents generally within 5 to 10 days. 4. Meeting the customer. We will come to you to sign loan documents. 5. CVB wires the funds. 6. Wow that was easy. IS YOUR BANK SUFFERING UNREALIZED SECURITY PORTFOLIO LOSSES? ARE YOU IN NEED OF A CAPITAL INJECTION? Bank Stock and Bank Holding Company Stock Loans up to $50 Million Done the Simple Way 20 SEPTEMBER 2022
SECUR-I.T. Community Banks, the Sun Also Rises Solar investment tax credits are now more accessible
*ESG criteria measures how a company rates in its protection of the environment.
SEPTEMBER 2022 21
By Josh Miller For more than a decade, large financial institutions like U.S. Bank and Wells Fargo, joined by Fortune 500 giants like Apple and Google, have been the dominant players in solar investment tax credits (ITC). Driven by federal incentives, these companies have provided funding for the largest solar projects in the country, collecting healthy returns while raising their corporate profiles as environmental, social, governance (ESG) leaders. The benefits of solar ITCs are hard to ignore. Tax credit investors funding renewable energy projects can significantly offset their federal tax liability and recognize a meaningful annual GAAP earnings benefit. From 2005–2020, renewable energy tax credits have fueled the explosive growth of solar and wind power production nearly passed
& BSA /AML conference » www.key-state.com For
Miller is CEO of KeyState Renewables, LLC. KeyState Companies manages tax advantaged investment and insurance structures for over 130 community banks across the country. KeyState Renewables launched its solar tax equity fund platform, SOLCAP, in 2019. To date, SOLCAP has financed over $120 million across 35 midsize U.S. solar projects in seven states. The KeyState Companies is a WBA Associate Member
Inflation Reduction Act is a transformational bill with provisions that will entice large numbers of mid-size businesses and community banks to deploy capital into renewable energy projects across the U.S. It extends solar ITCs for at least ten more years (until greenhouse gas emissions are reduced by 70%) and retroactively increases the ITC from 26% to 30%, effective January 1, 2022. This extension and expansion of ITCs, along with other meaningful incentives included in the bill, will result in a significant increase in renewable energy projects being developed and constructed over the next Communitydecade.banks are the logical source of financing for solar ITCs and traditional loans in response to this expected flood of mid-size renewable projects. Solar ITCs have a notably better return profile than other types of tax credit investments commonly made by banks. Solar ITCs and the accelerated depreciation associated with a solar power project are fully recognized once it is built and begins producing power. This is quite different from other tax credit
investments, such as new markets tax credits (NMTC), low-income housing tax credits (LIHTC) and historic rehabilitation tax credits (HTC), where credits are recognized over the holding period of the investment (5, 7, 10, or 15 years). Like other tax equity investments, solar tax equity investments require complex deal structures, specialized project diligence and underwriting, and active ongoing monitoring. Specialty investment management firms like KeyState provide support to community banks hoping to make solar tax credit (i.e., “solar tax equity”) investments by syndicating the investments across small groups of community banks. Without support, community banks may struggle to consistently identify suitable solar project investment opportunities built by qualified solar development partners. Beyond the compelling return profile and stable and predictable cash flows offered by conservative, investmentgrade solar projects, achieving energy independence, and reducing carbon emissions are critical goals in and of themselves. Solar tax credit investments can be a key component to a bank’s broader ESG strategy. The bank can monitor and report the amount of clean energy generation being produced by the projects it has financed and include this information in an annual renewable energy finance impact report or a broader annual sustainability report.
» Solar t ax credit investments can be a key component to a bank’s broader environmental, social, and governance (ESG*) strategy.
The18-fold.recently
Sept. 20–21 Wisconsin Dells www.wisbank.com/Secur-IT Including andoperations,BSA/AML,security,technologytracks.
John Kaprelian, vice president and retail manager for Marshfield-based Forward Bank, shares that view. “I think what we’re going to see is a continued shift toward branch staff being used primarily for the value-add activities that require humans — that people are better at than machines. Giving advice, opening accounts, answering questions, lending — those sorts of things,” said Kaprelian, whose institution began using ITMs a year ago. “And the teller work is really going to become a secondary responsibility of that staff and will be an increasingly small part of their day-to-day activities.”
“ITMs were a lifesaver during the pandemic. We had fullservice branches because of them.”—Jeff
“They needed some help, like with all change,” Kurek said. “We helped and we assisted, and I would say the pandemic escalated that. It changed the way people were doingSaidthings.”
Kurek vice president of information and cyber security Park Bank, Madison “The bank was looking to modernize its technology offerings for customers, and, among other factors, considering future staffings needs. So, the bank installed ITMs starting in 2017.”
Karen Berg, customer support manager for Forward Bank: “Actually, our customers have been really accepting of the ITMs and they have caught on pretty fast.”
Juliet D’Ambrosio, Adrenaline’s managing director of strategy, said in a report that ITMs were a self-service technology that “serves as a bridge between the physical and digital, improving customer experience and increasing revenue per customer.” “It can serve dual purposes — automating routine banking activity while providing access to bankers for consultations,”higher-valueshesaid.
According to a survey last year by the branding firm Adrenaline, even though ITMs entered the market in the 2010s, most ITMs have been put into operation in just the last five years.
An Adrenaline report from 2021 found that large majorities in all generations thought they would be extremely or very comfortable using an ITM: Millennials, 86%; Gen X, 85%; Gen Z, 80%; and those 55 and older,The72%.issue of price may be what’s holding some banks back on an ITM investment, although Adrenaline found that 60% of banks plan to deploy them by 2024. A report last year by the financial institutions consulting firm Bancography explained the potential cost of that first ITM.The report said if a bank already operates ITMs, the marginal cost of adding another probably would be less than“However,$100,000.a critical challenge of implementing ITMs lies in the initial setup
The Stephenson National Bank & Trust has 16 ITMs. “We have three dedicated people to those 16 machines,” Rollo said. “If and when we decide to put more machines in, we would probably not add staff right away. I’m assuming they can do up to eight [ITMs each], and they’ve got it timed so well to where they know their customers’ traffic flow and the items that they’re handling.”
ITMs Catching On (continued
— Elisa seniorRollovice president and chief retail officer The Stephenson National Bank & Trust, Marinette from p. They were a lifesaver during the pandemic. We had full-service branches because of them.”Kurek said Park Bank invested in ITMs, in part, because customers indicated they wanted them. “The customer is always asking for the latest and greatest technology,” Kurek said. The Stephenson National Bank & Trust in Marinette also was ahead of the COVID curve, installing ITMs starting in 2017. Elisa Rollo, senior vice president and chief retail officer, said the bank was looking to modernize its technology offerings for customers, and, among other factors, consider future staffing needs.
The issue of price may be what’s holding some banks back on an ITM investment, although Adrenaline found that 60% of banks plan to deploy them by 2024.
(continued on p. 23)
»
“We thought the older people aren’t going to adopt as quickly. Well, those now are some of our biggest advocates for the technology,” Rollo said. “They love to walk up and press a button, or never get out of their car, and they don’t have to see a person face to face. They can hear better with them, see a person better than you can in a drive-through through neededKurekwindow.”saidcustomerssomeassistanceat first.
Customer adoption and price are two of the main concerns of banks considering an investment in ITMs. To encourage adoption, Bank of Luxemburg temporarily posted a banker near its grocery store ITM to show customers how to use it. The bank also filmed a YouTube video explaining the ITM.
22 SEPTEMBER 2022
ITMs Are Catching On With CustomersBankers, Interactive teller machines (ITMs): the convenience of an ATM plus personal service
Some banks have reported that once customers become comfortable with ITMs, they often don’t need to contact the teller who is staffing the ITM to conduct a transaction.
Rollo said those monitoring usage at The Stephenson National Bank & Trust’s ITMs were a little surprised at how quickly older customers took to the new technology.
1)
SEPTEMBER 2022 23
Forward Bank’s Kaprelian said he doesn’t think tellers are going“Thereaway.are certain activities that ITMs just aren’t very good at handling, and you’re going to require staff — humans — to actually do it,” he said.
“I don’t think that’s going to change for quite a while, if ever.” Gores is a journalist who covered business news for the Milwaukee Journal Sentinel for 20 years. the actual ITM. Once you get the first one down, the second ones obviously are a lot more reasonable. The average ITM, depending on the company — there’s different vendors out there — I would say they are in the neighborhood of $60,000 to $80,000.”Rollo said when The Stephenson National Bank & Trust was making the decision about ITMs, its ATMs were getting to the point where they needed to be replaced anyway.
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ITMs Catching On (continued from p. 22) cost,” the Bancography report stated. “The backoffice infrastructure required to establish an initial ITM (building connectivity to the call center, systems integration, etc.) can cost $300,000–$500,000. So, assuming the midpoint and $85,000 for the machine itself, the first ITM costsBut$485,000.”iftheinitial rollout is bigger, the fixed infrastructure cost is amortized to a more reasonable level, Bancography said.
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Even as ITMs catch on,
“The opportunity to do it — and do it the right way — was there,” she said. “They do cost — probably I want to say — double what our normal ATM would cost. That includes the infrastructure to make the systemBankerswork.”using ITMs in Wisconsin said the machines provide additional opportunities for local bank employees who want to be involved with the new technology.“Whenwe started converting the drive-ups, we never eliminated any positions. We didn’t know how many people we were going to have to have behind the scenes and running these drive-ups,” Rollo said. “We started out slower and had four of the drive-up people converted — we call them interactive service agents. They were universal bankers and tellers that transitioned into this role. We didn’t hire anybody specifically for the role.”
“The first one you put in definitely is costly just because you’re not only buying the machine, but the bank also has to build the parameters and the data input and the software to run the machine,” said Bank of Luxemburg’s Schwalen. “That usually is about three times the cost of
RESILIENCYCELEBRATINGIN AG
The bank still has two of those four original interactive service agents — “They’re really good at what they do,” Rollo said — and the bank also has cross-trained some other universal bankers and contact center employees as back-up.
bank leaders don’t foresee a day when traditional faceto-face tellers and front-line bankers will “Technologydisappear.isnot perfect. Technology will not replace our people,” said Park Bank’s Kurek. “It’s only going to enhance our customer experience. The technology is a response to needs, to us listening to what they’re asking for.”
To
your
| March
November
Time! Upcoming
| May
Attendees
October 18–19 This two-day dynamic, interactive workshop is just what all supervisors need — both new and experienced supervisors will benefit! The program includes exploring the coaching and leadership skills that lay out a plan for success as a highly effective supervisor will find this experiential training opportunity invigorating, motivating, and applicable to managing and supervising others. Attendees will work Back-to-School education opportunities for Wisconsin
| May
Fall has arrived and schools are back in session, and that means your WBA banking schools are back in session as well! Every school offers in-depth learning experiences for various roles of staff within your bank. Each school will be held at the WBA office in Madison in our new Engagement Center. Visit www.wisbank.com/education for more information about these schools and to register your team online. product knowledge and customer service. Spring 2023 Compliance 13–17 Estate Compliance School 15–17
Introduction to Commercial Lending School 20–22 Mortgage Lending School 13–14 Management 18–20
» Residential
Over the first four years of the AHP, WBA member banks collectively saved over $1.8 million! Brian Siegenthaler | bsiegenthaler@wisbank.com | 608-441-1211 | www.wisbankins.com The added values of WBA’s Association Health Plan: • Local association team • Opportunity for cost savings • More plan options • Easy to switch • Strong national network • Convenient resources for members • And more For more information about WBA’s Association Health Plan (AHP), visit www.wisbankins.com/AHP.
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This school was developed as an advanced-level program, assuming participants have work experience and prior training in commercial lending and/or financial statement analysis. Case studies, in-class work and instructor-led discussions and facilitation are all elements of this school with an emphasis on cash flow, financial analysis, and structure.
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School | March
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Personal Banker School (two-day school) School of Bank Management (five-day school) and learn, share and listen, and go back eager to implement and make a difference. Banker School 2–3 This school has been designed to get your personal bankers up to speed quickly by providing them with the techniques and knowledge they need to successfully sell, cross-sell, refer, and service the banking industry’s ever-expanding list of financial products. will leave the school better equipped to provide your customers with exceptional learn more or to register, visit www.wisbank.com/education
» Compliance
October 12–14
SEPTEMBER 2022 25
Wisconsin Banker Please contact WBA’s Nick Loppnow at 608-441-1259 or or WBA’s more, visit wisbankins.com contact EBC Vice President Siegenthaler at 608-441-1211 or bsiegenthaler@wisbank.com
To learn more about WBA EBC’s insurance options, please contact Brian Siegenthaler, WBA EBC vice president, at 608-441-1211 or bsiegenthaler @wisbank.com Lund is WBA executive vice president – chief of staff and president of EBC and MBIS.
electronic publications. » To learn
nloppnow@wisbank.com
EBC Assists WBA — Members Meet Goals, Live Healthier Enroll now in cost-saving wellness benefit programs UpdateAssociation
Daryll J. Lund » Access WBA EBC’s free, online billing and enrollment portal at wisbankins.com
Contact: David Anderson Wausau, WI 54402 Tel: 715-845-4336 danderson@ruderware.com
occasionally prints informative articles submitted by Gold, Silver, and Bronze WBA Associate Members. Interested in sharing your expertise?
The WBA has approved the following service providers as new WBA Associate Members. MoneyGram corporate.moneygram.com Contact: Kelly Gonsowski Brooklyn Park, MN 55443 Tel: 612-991-6701 kgonsowski@moneygram.com Meet your customers’ needs with MoneyGram’s outsourced service offerings. MoneyGram can help prevent fraud losses through their compliance programs, ensure daily reconciliation, provide inventory management, generate additional income, and expand bank’s products and services portfolio with minimal resources. MoneyGram’s core
For more information, please contact WBA at sales@wisbank. com or visit www.wisbank.com legal expertise that helps business owners and managers maximize their corporate and personal assets.
As members of the Wisconsin Bankers Association (WBA), banks throughout the state are eligible to join WBA’s Employee Benefits Corporation (WBA EBC) for a wide range of benefit plans that offer employees peace of mind and incentives to save. Through WBA EBC’s Association Health Plan (AHP) serviced by UnitedHealthcare (UHC), employees of Wisconsin banks have the ability to access competitively priced, flexible medical and vision coverage. Individuals are also able to add motivating incentive programs — such as Motion and Rally — that help inspire healthy habits and saveRally,money!awellness program offered through the AHP, motivates employees to meet their lifestyle goals. Alongside other individuals or at their own pace, Rally’s “missions” offer challenges that assist individuals in reaching — and surpassing — lifestyle goals, including eating healthier and increasingEmployeesmovement.arealso able to redeem “Rally Coins” for purchases from fitness, entertainment, and well-being brands upon completion of goals. With an easy-to-use interface and motivating rewards, wellness is made more exciting and achievable for everyone.
Ruder Ware is the largest business law firm headquartered outside of Madison and Milwaukee. Ruder Ware assists banks with commercial loan documentation, workouts, foreclosure/ replevin of loans, bankruptcy, regulatory matters, employee benefits, and human resources/ personnel issues. In addition to serving financial institutions, Ruder Ware represents many other businesses throughout the state of Wisconsin.
Motion is a health savings account (HSA) offered through the WBA EBC’s AHP. The HSA incentivizes walking and meeting goals as an additional way to earn credits. Employees earn a $55 credit upon registration and every credit earned can be deposited into an HSA that assists in reducing out of pocket costs for eligible healthcare expenses. Each year, Motion participants have the ability to save up to $1,095. Now’s the time to make certain every member of your team is reaching their full potential and saving money while doing so. WBA EBC’s AHP serviced by UHC offers wellness programs that provide great incentives to developing and sustaining good health practices and preventative care, in addition to assisting employees in saving for life’s emergencies.
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It was also extremely rewarding to serve witness to the Community First Bank team working tirelessly to help our customers by quickly processing hundreds of PPP loans during the pandemic in 2020 and 2021.
26 SEPTEMBER 2022
Another favorite part of my job has been mentoring employees and being able to watch them learn and grow within our organization. Community First Bank has had a number of employees who started with us in high school or college and have now grown into leadership positions within the bank.
The following is a brief interview between WBA President and CEO Rose Oswald Poels and Community First Bank, Boscobel President and CEO Dan Klahn. Read past interviews at www.wisbank.com.
Q&A
I think one of community banking’s greatest challenges over the next 3 to 5 years will be related to keeping up with rapidly evolving cybersecurity risks, technology, and complying with the ever increasing regulations. Our industry will need to continue to focus on ways to manage these challenges as we go into the future. In Wisconsin, we are fortunate to have a very strong trade group in the Wisconsin Bankers Association (WBA) to lead advocacy efforts and help us manage some of the challenges we face. 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. I think the most rewarding experiences for me in my career revolve around participating and watching our employees step up to the plate when our communities needed us most. A couple of examples of this include watching our employees fill and deliver sandbags to businesses during the 2008 and 2018 floods in Reedsburg and assisting in cleanup efforts for the tornado that hit Boscobel in 2021.
Rose: How did you first get into the banking industry?
I wish the general public better understood the commitment and contributions that community banks and their employees make to their customers and communities every day. We truly have a vested interest in helping our communities thrive as our employees and their families live, work, and go to school in the communities they serve.
Dan: After graduating from college with a degree in economics, I began working in a sales and lending position with a finance company. I discovered I really enjoyed the customer contact and finding ways to help meet customer needs. While working there, I was able to see the positive effect that community banks have on their customers and communities. This led me to join a small community bank in southwest Wisconsin. A few years later, I joined Community First Bank in Boscobel, where I have been for the last 33 years of my career. Working in a smaller community bank has given me the opportunity to learn and grow as one must wear many hats and do a little bit of everything. This eventually led to my current role as president and CEO. What is your favorite aspect of your role at your bank? My favorite aspect of my role at the bank is the ability to positively affect people’s lives. I have been fortunate to be able to develop relationships with individuals and businesses that have lasted 30+ years. This includes being there for them through the good times and bad. Some of these long-term relationships began as start-up businesses that have grown and prospered and are now major employers in the communities we serve.
Community Month
What do you wish the general public understood about the banking industry?
Where do you believe the industry’s greatest challenges are in the next three to five years?
Advocate of the
I believe we’ve “gained some ground” through the pandemic as the extraordinary efforts put out by the banking industry to help our customers was more visible and recognized. However, we as an industry need to continue to educate the general public about the positive effects we have on the economy and the communities we serve.
Oswald Poels is WBA president and CEO | ropoels@wisbank.com 608-441-1200 | Twitter: @RoseOswaldPoels Do you know a banker who should be recognized as a Community Advocate for the work that they do? Nominate them today by emailing Rose at ropoels@wisbank.com!
Rose Oswald Poels
Dan Klahn 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.
Executive Vice President and Chief Lending Officer
Citizens State Bank of Loyal is seeking an executive vice president and chief lending officer. This position is responsible for managing the loan department — including the development and communication of policies and procedures, and overall responsibility for the growth and quality of loan portfolio; functions associated with the credit risk management of the bank; as well as identifying and understanding developing trends and providing a thorough, independent assessment of a borrower’s capacity to withstand the risks posed by those trends through the preparation of written, in-depth analyses of business, management, and industry factors.
community.Pleasecontact
Responsibilitiesneeds. include marketing JFG as the “First Choice” provider of financial products and services; actively prospect to identify and analyze needs and recommend structured solutions; serve as a cross-sale point of contact for treasury management, wealth management, equipment finance, and insurance products and services. Developing terms and conditions in accordance with JFG loan policy that protects JFG during an economic or industry downturn, management disruption, and/or operating shortfall. Performing timely analysis of client financial statements to determine appropriate credit capacity, leverage, and cash flows sufficient to repay debt obligations. Completing timely credit renewals, annual credit reviews, and collecting/reviewing financial statement requirements. Developing and delivering written loan/credit presentations including detailed financial analysis and recommendations for senior executives. A bachelor’s degree in finance or related field is preferred. Qualified individuals would have 2+ years commercial banking experience; an understanding of basic business financial statements; sales experience preferred; developing effective prospecting skills; skilled at client servicing and contactInterestedfollow-through.inapplying?Please
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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:
for opinions expressed and statements
Remote Loan Processor
in printed
WISCONSIN BANKER
State Bank of Reeseville/Watertown is an equal opportunity employer. Interested candidates should contact Jayne Adams at jaynea@ statebankofreeseville.com
We promote a healthy environment for banks in Wisconsin through actively advocating, educating, and supporting our members.
Salaries are dependent on experience, bonus eligible based on performance. Some weekends may be required.Experience preferred. Advancement opportunities for the right candidate.
Bankers www.wisbank.com/classifieds
HELP WANTED
Commercial Banking Relationship Manager Johnson Financial Group Inc. is seeking a commercial banking relationship manager (RM) that develops revenue growth by generating, managing, and growing quality, profitable commercial loans, deposits, and fee-based relationships.Inthisrole, the individual will take over an existing client base and proactively consult with current and prospective clients to develop quality solutions that meet all their financial service
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Equal Housing Lender. EOE theirQualifiedM/F/Disabled/Vet.candidatesmaysendresumeto Shane Moen at shane@ bankoflakemills.com
Chief Financial Officer Clare Bank, a community bank in southwestern Wisconsin, is seeking a chief financial officer (CFO). The CFO is responsible for bank’s financial management, accounting, and financial reporting functions. This includes asset liability management, financial analysis, regulatory reporting, and investment portfolio. The CFO will also assist with audit and compliance, deposit operations, and policy reviews. The candidate must be proficient in excel and the position requires high attention to detail and accuracy, extensive knowledge and experience in accounting systems, general ledgers, spreadsheets, and related systems and equipment. A degree in accounting or financeResumespreferred.can be sent to Clare Bank, Attn: Deb McWilliams, P O Box 267, Platteville, WI 53818.
To report a change of address, email us at requests@wisbank.com
Nikki Redmond at nredmond @johnsonfinancialgroup.com to learn more.
SEPTEMBER 2022 27
Marketplace
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 WBAStatementMission
A primary component of this role will involve the exercise of independent judgement and discretion on matters pertaining to the identification and management of the credit risk and quality of the bank’s loan portfolio. The individual will serve as a member of the senior management team tasked with the responsibility of leading the bank in the absence of the CEO. Please contact Jasmine Gross for a full job description at jgross@ csbloyal.com
Residential Mortgage Loan Originator Bank of Lake Mills is a locally owned community bank seeking to add an experienced residential mortgage loan originator to the team in Watertown, Wisconsin.Thisindividual will present information to current and prospective customers as well as to business contacts such as builders and realtors in the Waukesha and Jefferson County areas to meet established goals. Candidates must possess excellent customer service and sales skills. Strong work ethic, attention to detail, good judgment, and the ability to work independently are also needed. Compensation is base salary plus Membercommission.FDIC.
The of does Wisconsin Bankers Association. The reserves the With the exception of official announcements, the Wisconsin Bankers Association disclaims all responsibility made articles 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.
and advertisements
Want to See More Visit www.wisbank.com/classifieds to view a full listing of job postings or for more information on placing or responding to an ad.
not necessarily represent endorsement of those products or services by the
Agricultural Loan Officer Citizens State Bank of Loyal is seeking an agricultural loan officer. This position is responsible for developing and maintaining a portfolio of agricultural loan accounts; making loans to individuals, partnerships, and corporations engaged in agricultural production; analyzing loan applications; auditing loan files; servicing existing loans; counseling customers in an effort to reduce delinquencies; and meeting departmental goals for increasing loan volume. This individual will sell and promote all bank services in such a way as to enhance bank earnings and the bank’s image within the Jasmine Gross at jgross@csbloyal.com for the full job description.
State Bank of Reeseville/Watertown is seeking a remote loan processor to join the team as the bank’s primary loanThisassociate.individual will assist all loan officers in obtaining and completing information necessary to process loans; be responsible for the procurement and processing of consumer, commercial, agricultural, and real estate loan documents to ensure that compliance regulations are met and maintained so loans conform to established bank policies; establishing files, prepare documentation, accept and record payments; calculate interest and rebates; file documents and loan files; keep loan records up-to-date; use tickler system to keep insurance, tax, financial statements, and UCC documents current; send work/records to accounting or data processing; and answer questions for customers.
publication
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 Advertising: sales@wisbank.com608-441-1216 ckrause@wisbank.com
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