13 Hoosier Banker October 2014 provides much more flexibility, and I am sure that most of you have already used it. We continue to increase our presence on social media and are increasingly relying on it for certain communications. Paul Freeman and Tracy Wainscott did the heavy lifting on the software conversions for the website and the data base, and we appreciate the time and talent that was required. Earlier I mentioned that the New Markets Tax Credit transaction added over $1 million to our net income last year. You may recall that, over the next few years, this program will bring in a total of about $8 million. The program, which IBA became involved with in 2004, was an entrepreneurial pursuit that no other trade association in the country has ever successfully completed. Restrictions on the program allow for a two-year claw back of the tax credits and a three-year look back by the IRS after the completion of the last transaction. That means that in 2020, all of the money can be allocated for new or existing programs to benefit members. Much of our ability to utilize the money will depend, of course, on what happens in the bank consolidation area. The money may need to be used to sustain the level of service that IBA provides to you. Only time will tell. You can rest assured that the board will use it to maximize member service. Another entrepreneurial effort that is paying off is our partnership with The KeyState Companies and Crowe Horwath LLP to provide Captive Property and Casualty Insurance Company Subsidiary services. This program has been successful for banks over $500 million in assets. Soon we will be offering the program to banks in the range of $250 million to $500 million in assets. Also in the products and services area, Rod Lasley has negotiated two new Preferred Service Provider relationships. Continuity Control has developed software that eases the management of the entire compliance system. This system – combined with Young & Associates Inc. Community Bankers for Compliance program and the Compliance Connection hotline hosted by Krieg DeVault LLP – go a long way toward helping members better manage the compliance process. The other program is a retail merchant card processing program through Evansville-based Approval Payment Solutions Inc. a long-time IBA associate member. Be sure to ask Rod Lasley about these programs, or visit the booths of Continuity Control and Approval Payment Solutions. IBA’s members are fortunate to have a very talented staff, many have been with the Association for over 20 years. IBA is nationally recognized as one of the top state bank trade associations in the country. Several staff members received recognitions this year that you should be aware of: • Dax Denton was named the Best & Brightest in Banking and Financial Services by Junior Achievement of Central Indiana. He is the second IBA staff member to win this prestigious award, following Amber Van Til, who won it in 2008. • Laura Wilson was named Association Professional of the Year for 2013 by the Indiana Society of Association Executives (ISAE). This award has been won previously by Paul Freeman, Laurie Rees, Chris Bennett and Dax Denton. No other trade association in Indiana has staff who have won this award more than once. • Rod Lasley was recognized by ISAE for the Outstanding NonDues Revenue Program for IBA’s Property and Casualty Captive Insurance Company Subsidiary Pool Program. • Joe DeHaven was elected chairman of the board of trustees of both the Graduate School of Banking at the University of Wisconsin and of the Prochnow Educational Foundation. The school was founded in 1945, and Joe is the first alumnus to chair these boards. During this year, the board did make three changes to the bylaws that I want to report to you. We added a seat to the board that will represent those member banks headquartered in another state. We also expanded the potential board members from presidents and CEOs exclusively to any Reg. O officer in a member bank. In today’s technology-driven world, and with the changing dynamics of the workforce, more flexibility in board membership may become important in the future. Lastly, we eliminated from the bylaws a requirement to have a budget committee. The board has final approval of the budget and works closely with staff to develop a budget each year. One final note: We have had much success in Indiana the past few years legislatively, and much of that success is your grassroots efforts and your support of Indiana BANKPAC. Thank you for that support you have provided. t Dave Heeter, 2014 IBA chairman, presides at the Annual Convention.
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