2025 ISSUE 5 BACKGROUND ON MIBA President Curt Brumley Community Point Bank 48th Annual Convention & Expo
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INSIDE THIS ISSUE PO Box 1765 Jefferson City, MO 65102 (573) 636-2751 | miba.net Editor: MATTHEW S. RUGE Executive Director ©2025 The Missouri Independent Bankers Association (MIBA) | The newsLINK Group LLC. All rights reserved. The Show-Me Banker is published six times per year by The newsLINK Group LLC for MIBA and is the official publication for this association. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of MIBA, its board of directors or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. The Show-Me Banker is a collective work, and as such, some articles are submitted by authors who are independent of MIBA. While a first-print policy is encouraged, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at (855) 747-4003. Published for the Missouri Independent Bankers Association 4 PRESIDENT’S MESSAGE A Season of Change 5 FROM THE TOP Riding the Pendulum of Regulatory Compliance 6 FLOURISH Making A Difference, One Act at a Time 7 2025 Community Impact Award Recipient 7 Welcome to the 2025‑2026 MIBA Officers 8 BACKGROUND ON MIBA President Curt Brumley Community Point Bank 10 MEET YOUR MISSOURI BANKER Alex George Compliance Officer, Peoples Bank of Wyaconda 12 48th Annual Convention & Expo 16 Thank You To Our Convention Sponsors 18 LEGAL EAGLE SPOTLIGHT Navigating the Rising Risk of Website Tracking Litigation What Independent Banks Need to Know 20 48th Annual Convention Golf Tournament 22 On Your Marks How Bond Markets React to Rate Cuts 24 Leadership Division at the Ballpark August 13, 2025, at Kauffman Stadium 26 News From You 27 2025 PAC Honor Roll October 1, 2025 28 Welcome New Associate Members 28 Welcome New Bank Members 29 Cybersecurity Awareness Month Creating Partnerships to Raise Cybersecurity Awareness at Home and Abroad 30 Advice to New Compliance Officers 34 MIBA 2025-2026 Upcoming Events 35 MIBA’s Endorsed Vendors Are Ready to Help You Go Further 36 MIBA Associate Members 38 Upcoming Webinar Schedule 40 REGISTRATION IS OPEN! Women in Community Banking Conference 10 8 12 22 The Show-Me Banker Magazine | 3
A Season of Change PRESIDENT’S MESSAGE Curt Brumley MIBA President, Community Point Bank The 48th Annual Convention & Expo was a huge success and a great way to start my tenure as the newly elected MIBA president. The convention provided the opportunity to catch up with friends, listen to outstanding presenters and visit the many fantastic exhibitors who attended. Thank you to the bankers, presenters, sponsors, exhibitors and everyone else who came and had a hand in the convention. Having been in charge of a multiple-day convention in the past, I know it takes a substantial amount of time and effort to make them as successful as MIBA’s conventions. So, in saying that, I want to especially recognize Matt, Michelle, Jessica and Rebecca for their work to make these conventions as good as they are. I’d be remiss if I didn’t also thank Doug Fish for his leadership, energy and the outstanding job he did as president during the past year. As bankers, we have the ability, along with MIBA and other sources, to have our voices heard and to recommend changes that help us serve our customers better, support community banking and get the younger generation of bankers involved in the future of our industry. While we have many things on our plates every day, not to mention interest rates, competition, technology, fraud, cyber threats, regulation changes, etc., let’s not forget to advocate for and promote community banking and support the next generation of bankers. Community banks have and will always serve an important role in our communities and states. Change is inevitable not only in our industry but everywhere. Doug Fish mentioned this last year, and I fully agree with him. Changes will occur faster than they have in the past, so we need to understand and adapt to them to keep our industry strong. 4 | The Show-Me Banker Magazine
FROM THE TOP Riding the Pendulum of Regulatory Compliance Jack E. Hopkins Chairman, ICBA telling the community bank story to ensure those messages are heard. We also must remain ever-vigilant and prepare for what may be in store. For that, the key lies in ICBA Education. At my bank, at least one team member has earned nearly every certification ICBA offers, with some boasting multiple certifications. We take pride in ensuring we have knowledgeable staff, and that investment in their professional development has been one of the best things we’ve done. For instance, our compliance exams go well because of their depth of knowledge; we have had examiners comment that they are impressed that we have so many highly trained staff. Innovation also strengthens our compliance response. New technologies are emerging that can streamline our efforts, more efficiently execute compliance screenings and flag potential issues. For example, my bank is now actively considering new AI-type products that will allow us to effectively address compliance red flags without increased manual intervention — a win-win for our bank and team. However, basic physics tells us that an object in motion stays in motion and that the regulatory pendulum will continue to sway. But with ICBA here to support us, no matter the environment, we will be prepared for our compliance future, armed with the right messaging, talented teams and state-of-the-art technology. Thankfully, with that kind of support, we’ll collectively be ready to ride out the next compliance swing when the time arises. My Top 3 Advocacy wins so far this year: 1. The repeal of the CFPB’s overdraft rule. 2. The change of course on 1033. 3. Progress on 1071. Over the past decade, community banks have experienced their fair share of pendulum swings when it comes to regulation. We seem to toggle from one extreme to the other, with the most aggressive onslaught of regulations appearing in the past five years or so. Yet, we’re finally starting to see a healthy backswing, paving the way for a more productive environment for community banking. This regulatory rightsizing allows us to be more optimistic. Rule writing has slowed down, hindering rules that were enacted are being edited or rescinded, and we’re not faced with an onslaught of new compliance issues. Because we’re not trying to navigate a terrain of compliance pitfalls, we have more time to do what we do best: help our customers and our communities. However, even in the face of optimism, we recognize that with regulation, the only constant is change. That’s where ICBA and its pillars of advocacy, education and innovation truly step up to help us. From an advocacy standpoint, our work explaining the way regulations can tie our hands has clearly had an impact. (See My Top 3 for some big wins.) We have to keep The Show-Me Banker Magazine | 5
Community bankers are driven by a spirit of service. Giving back to our communities is simply part of who we are. But where does that instinct come from? Why is it a part of our DNA, and how has it been shaped over time? For me, the answer goes back to the ecosystem in which a community bank operates: We live, thrive and face challenges in lockstep with our communities. Just as our communities are shaped by opportunities, issues and events, so are the community banks that support them. In our nimbleness, we’re able to adapt and provide solutions to address urgent requirements and rally around our communities in times of need. For example, following the devastating floods in central Texas, multiple community banks in the state launched significant dollar-matching campaigns to provide aid. At the same time, ICBA’s Foundation, in coordination with the Independent Bankers Association of Texas, activated to support local rebuilding and long-term business recovery efforts. As part of the community banking family, this is how we respond in challenging times. It’s about stepping up and doing whatever we can. It’s also why we annually take the time to honor philanthropic work through our National Community Bank Service Awards. They help to shed light on the amazing stories of support that happen in our communities. Consider this year’s Exceptional Award winner, Gulf Coast Bank in Abbeville, Louisiana, which, through its partnership with the Boys & Girls Clubs of Acadiana, has raised nearly $700,000 for local at-risk youth. Or look at the 2025 Emerging Award winner, Legends Bank in Clarksville, Tennessee. They established Legends Lift, a volunteer service program that enables the bank to come to the community’s aid during times of crisis and helps fulfill ongoing community needs. These efforts exemplify the community bank spirit of service, because they aren’t about numbers; they’re about making lives better for the people of our communities. And they represent only two examples of how community banks around the nation rise to the challenge of meeting community needs on a daily basis. I hope you see yourself in these award winners and consider how you’re sharing your stories of service. While it’s simply a part of our DNA to give back, conveying what we do sheds light on the community bank difference and, in turn, helps our communities flourish. FLOURISH Making A Difference, One Act at a Time Rebeca Romero Rainey President and CEO, ICBA We live, thrive and face challenges in lockstep with our communities. 6 | The Show-Me Banker Magazine
2025 Community Impact Award Recipient We extend our sincere thanks to every institution that submitted a nomination for the 2025 Forvis Mazars Community Impact Award, proudly presented by MIBA. Now in its 19th year, this award honors institutions that exemplify excellence across three pillars of impact: employee involvement, community engagement and financial contribution. Earlier this summer, our dedicated panel of judges — Doug Fish (BTC Bank), Kristie Stuewe (Verimore Bank), Jennifer Smithson (F&C Bank) and Tom Klebba (Legends Bank) — gathered to thoughtfully review each inspiring nomination. This year’s winner stood out for their remarkable commitment to community and creativity in fundraising. Through their BOOM Music Trivia initiative, they successfully engaged both staff and community members, raising over $20,000 to support local causes. We are thrilled to announce The Bank of Old Monroe as the 2025 Forvis Mazars Community Impact Award Winner. Congratulations on your outstanding achievement, and thank you for making a lasting difference! Welcome to the 2025‑2026 MIBA Officers Matthew S. Ruge, Executive Director of the Missouri Independent Bankers Association, the state’s premier banking association, exclusively representing over 130 independently owned community banks statewide, announced the election of the group’s new officers for the 2025-2026 term of office. Chairman of the Board Matthew Laumann Farmers & Merchants Bank, St. Clair President Curt Brumley Community Point Bank, Russellville President-Elect Chuck Gnuse United State Bank, Lewistown Vice President Kim Reigelsberger Preferred Bank, Rothville Secretary-Treasurer Dale McDonald Bank of Old Monroe The Association’s elections were held at its 48th Annual Convention & Expo, Sept. 8-10, 2025, at The Lodge of Four Seasons, Lake Ozark, Missouri. The Missouri Independent Bankers Association, which exclusively represents the interests of Missouri’s independently owned community financial institutions, was the first state independent bankers association to be formed in the country and was chartered in 1959. The association serves community banks throughout Missouri, providing legislative representation, education and seminar programs, and other services designed exclusively for community banks. The Show-Me Banker Magazine | 7
BACKGROUND ON MIBA President Curt Brumley Community Point Bank For nearly all his life, Curt Brumley has called the tight-knit community of Russellville, Missouri, home. Growing up in a small town where neighbors know and look out for each other fostered a deep sense of community in Curt and instilled in him the value of human connection and relationships. Curt’s parents taught by example and the many lessons Curt learned from them still serve him well today. As a young boy, Curt vividly remembers helping his mother with the grocery shopping. “We went to Jefferson every Saturday, and my mom would have us go to all three grocery stores there to shop their specials. She was strategic about grocery shopping and spending every dollar wisely,” Curt recalled. “Looking back on those times, my dad and I sometimes laughed and wondered if we were burning more gas by going to all three stores to buy the specials instead of getting everything we needed at one store.” During high school, Curt was president of six clubs, participated in many sports and excelled at baseball. His father just happened to be the principal of the school and spent time as a coach and teacher as well. One day, he sat Curt down before a game and said, “Don’t get a big head. This is a team sport. How you play the game will tell everybody how good you are.” Years later, that advice still sticks with Curt in similar ways. “When my board says, ‘Hey, you're doing a great job,’ I always reply with a ‘Thank you, but I've got 28 other people on my team who are working their tails off.’” It is important to Curt that the employees at Community Point Bank know they are valued members of the team. “I realized a long time ago I could not do everything myself. You must surround yourself with good people and give those people credit when they deserve it,” Curt said. Supporting the community is important to Curt. He has served on and been president of a number of nonprofit and school boards.
“It's in my nature to volunteer my time and give back — whether it be in the banking industry, community, school or whatever, we need to make a difference,” Curt stated. When he is not working or volunteering, Curt enjoys spending time outdoors. Even there, Curt’s sense of community and connection shows. Curt served as president of the Bass Fishing Club — a semi-professional fishing club — which he is very proud of to this day. For almost 44 years — 18 of which have been with Community Point Bank — Curt has dedicated himself to the banking industry. For the past nine years, Curt has served as president of Community Point Bank, a position that he is both honored and humbled to hold. Looking back on his career, the most rewarding part has been helping people succeed. “Whether it's in their job or in their life, helping people achieve their dreams and goals is what banking is about. It’s making a difference in somebody's life,” Curt said. “I had one of my bigger customers who needed a little extra on a loan, and we got it done for him. He told me, ‘I don't know if I'm ever going to use all that, but you don't know how much it means to me that you guys got that done for me; it made my life a lot simpler.’ Feedback like that lets you know that you're doing the right thing.” As a long-time member of MIBA, Curt recently assumed the role of 2025-2026 president. “I've been on the MIBA board for several years, and Matt, Michelle, Jessica and Rebecca do a great job running the association,” Curt said. “I'm more than happy to do my part to help.” Similar to his predecessor, Doug Fish, Curt has two important goals that he’d like to focus on over the upcoming year. The first is to help membership grow. “Doug did a wonderful job during his term as president. I am very fortunate to follow him and build upon his momentum,” Curt said. He encourages MIBA members to reach out to their non-member friends and talk to them about the benefits of membership. The second focus is to increase the involvement of the younger generation of bankers. “As we get older and eventually retire, we need to make sure that we have a next generation of bankers involved in the industry and ready to take over,” Curt stated. In addition to that, Curt has his eye fixed on the ever-changing challenges in banking. Cybersecurity and fraud have become big issues, as have interest rates and regulations. It’s also important to provide customers with modern banking tools and meet their expectations. “I think banks have to be visionary and adapt to and address these challenges,” Curt said. “We've done a lot of things since I've been president of the bank, like instant issue debit cards, mobile deposits and QuickBooks integration, just to name a few. If we want to get customers and retain customers, we need to evolve.” When asked if he could share any advice for up-and-coming bankers, Curt stated, “You’ve got to trust your gut. I was given that advice a long time ago, and it has not failed me. In addition to trusting yourself, be grateful. I wake up every day and I'm grateful.” Curt continued, “Many think happiness is elusive, but I think that's because they look forward to the future, not focusing on the present.” The Show-Me Banker Magazine | 9
Alex George MEET YOUR MISSOURI BANKER Compliance Officer, Peoples Bank of Wyaconda Where is your bank located? Peoples Bank of Wyaconda’s main facility is located in the northeast corner of Missouri in Kahoka. We have branch facilities in Wyaconda and Canton, also in northeast Missouri. Our market primarily consists of agricultural businesses and residential real estate. What is something unique about your bank? Our bank has a diverse display of taxidermy ranging from a bear to a moose, several deer, an elk, a mountain lion and a rattlesnake, just to name a few. Our customers really enjoy looking at the animals and hearing the unique stories behind each of them. How did you get started in the banking business? I began my banking career as a part-time teller at our Canton branch when I began my senior year of high school. I worked as a teller throughout the remainder of high school and while I attended college. Upon graduation from Culver-Stockton College, I was promoted to loan officer and then, about 11 months later, I was offered a position as a compliance officer based out of our Kahoka branch. I have held this position since November 2022. What is the most important thing you have learned from this career so far? There are so many different aspects to compliance, and it is nearly impossible to remember every detail of all the regulations; so, it is most important to know where to go to find an answer when I am unsure. What prompted you to begin a career in banking? Banking and finance have been my passion for as long as I can remember. I have always been interested in saving money and watching it grow. I knew that banking would be a great fit for me. What is the most interesting thing you have learned from this transition to the banking industry? I have learned so much about banking in my nearly eight years with Peoples Bank. Working for the best bank in northeast Missouri continues to be a blessing, and I 10 | The Show-Me Banker Magazine
transactions, banks must protect customer data from cyber threats such as phishing, hacking, malware and fraud. What’s your favorite thing about your bank/banking in general? My favorite thing about my bank and banking in general is learning about the many different aspects of banking and getting to know our customers, financing their dreams and building their wealth. If you didn’t have a career in banking, what other career would you choose? I truly believe I was meant to be a banker. However, if I didn’t have a career in banking, I think I would enjoy working as a finance manager at a car dealership, combining my passion for finance and my interest in cars. am so fortunate and grateful for where I am today and what I have accomplished in a short amount of time. Working in various capacities over the years has given me a well-rounded understanding of banking. I think the most interesting thing I have learned from the banking industry is the number of regulations a bank has to follow on a day-to-day basis. Tell us about the bank’s community investment efforts. Peoples Bank is very active in our communities across northeast Missouri, whether it is local church organizations, 4-H and FFA, or local service organizations. With agriculture being very prominent in our area, Peoples Bank is a proud supporter of the local county fairs and their livestock auctions. We also have staff from our locations serving on various organizations’ boards and participating in community events throughout the year. What is the bank’s biggest challenge in the area of internet banking/mobile banking? I think the bank’s biggest challenge in the area of internet banking/mobile banking is cybersecurity. With increasing digital The Show-Me Banker Magazine | 11
MIBA's 48th Annual Convention & Expo was held Sept. 8-10 at The Lodge of Four Seasons in Lake Ozark, Missouri. Attendees enjoyed education sessions, networking and entertainment. A big thanks to our sponsors who made this convention possible. We hope to see you at our next event. For more information, please visit www.miba.net. 12 | The Show-Me Banker Magazine
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LEGAL EAGLE SPOTLIGHT federal and state wiretapping statutes, general privacy laws and unfair competition regulations. The potential financial exposure is significant — CIPA, for example, allows for statutory damages of $5,000 per violation, and class actions can multiply this risk into the millions. In addition to state laws, plaintiffs may allege that a bank has breached its obligations under the Gramm-Leach-Bliley Act (GLBA) by disclosing consumers’ financial or other non-public personal information without providing proper advance notice. As a result, banks face a complex patchwork of state and federal regulations, making it essential to understand and address these risks proactively. Recent lawsuits have named major banks including JPMorgan Chase, Capital One and TD Bank for embedding tracking pixels on their websites, allegedly transmitting customer information to Navigating the Rising Risk of Website Tracking Litigation What Independent Banks Need to Know By Shawn Tuma, Attorney, Spencer Fane LLP As independent banks continue to invest in digital platforms to better serve their customers and communities, the use of website tracking technologies such as cookies, pixels and session replay tools has become commonplace. These tools are essential for improving user experience, supporting marketing efforts and ensuring operational efficiency. However, a surge in lawsuits and regulatory scrutiny across the country has made website tracking a significant legal and reputational risk for banks of all sizes, including those serving towns and rural communities across the U.S. Leaders in the banking industry must understand the evolving landscape of website tracking litigation, recognize which activities can trigger claims and implement robust compliance strategies to protect their banks. If your bank receives a legal demand or lawsuit related to website tracking, experienced legal counsel can make all the difference. Understanding the Legal Landscape: Why Banks Are at Risk Although much of the recent focus has been on California’s privacy laws, the risk of website tracking litigation extends nationwide. Importantly, a bank does not need to be physically located in California, conduct business there or even have California-based customers to be targeted. Plaintiffs’ attorneys can bring claims under California law if an individual from California accesses the bank’s website and alleges a violation. Banks and financial institutions are increasingly accused of using website tracking tools that collect and share user data with third parties without proper disclosure or consent. These claims often cite violations of the California Invasion of Privacy Act (CIPA), various 18 | The Show-Me Banker Magazine
third parties like social media platforms. While some cases have been dismissed for lack of evidence, the trend is clear: Banks are increasingly in the crosshairs, and even small to mid-size and community institutions are not immune. What Business Activities Trigger Claims? Several common business activities have been at the center of recent litigation: • Embedding Tracking Pixels or Session Replay Tools: Placing these technologies on online banking portals, loan application pages or account management sections can inadvertently transmit sensitive financial or personal data to third parties. • Inadequate Privacy Notices: Failing to clearly disclose what data is collected, how it is used and with whom it is shared can violate both state and federal requirements. • Lack of Customer Consent or Opt-Out Mechanisms: Not providing customers with meaningful choices about data collection, especially for marketing or behavioral advertising, can lead to claims premised on state privacy laws and the GLBA. • Failure to Honor Opt-Out Requests: As more laws and regulations require businesses to honor browser-based privacy controls, banks must ensure their systems can detect and respect these signals. • Vendor Management Gaps: Relying on third-party analytics or advertising partners without robust contractual protections can result in unauthorized data sharing and regulatory exposure. How Companies Can Protect Themselves To mitigate the risk of website tracking litigation, community banks should take the following steps: 1. Audit Your Tracking Technologies: Regularly review all tracking tools and scripts on your websites to ensure they do not collect or transmit personal or financial data without explicit customer consent. 2. Enhance Transparency and Consent: Update privacy policies to clearly disclose tracking activities and implement robust cookie consent mechanisms that comply with applicable laws. 3. Limit Data Collection: Only collect data necessary for your business purposes and avoid gathering sensitive information unless absolutely required and legally justified. 4. Review Vendor Agreements: Ensure contracts with third-party tracking providers include appropriate data protection provisions and clarify roles and responsibilities. 5. Regularly Assess Risks: Periodically review your tracking practices and stay informed about evolving legal requirements and regulatory guidance. 6. Train Your Team: Educate employees involved in website management and marketing about privacy obligations and compliance best practices. Responding to Website Tracking Claims: Practical Guidance When a bank receives a demand letter or lawsuit related to website tracking, it’s important to respond promptly and with a clear strategy. Legal and technical professionals can provide valuable support in addressing these issues. Common areas of assistance include: • Coordinating technical audits and forensic reviews of website tracking tools. • Evaluating the legal basis of claims and assessing potential exposure. • Preparing responses to demand letters and formal complaints. • Managing litigation, including motions and class action defense. • Facilitating settlement discussions and regulatory communications. • Advising on compliance improvements to reduce future risk. By working with professionals who understand both the legal and technical dimensions of website tracking, independent community banks can better manage risk, maintain compliance and protect their reputation. Whether addressing an active claim or proactively reviewing practices, taking informed steps can help safeguard business operations in a rapidly evolving legal and regulatory environment. Shawn Tuma, an attorney at Spencer Fane LLP in the Plano, Texas office and the leader of the firm’s Cyber/Data/Artificial Intelligence/ Emerging Technology team, helps businesses protect their information and protect themselves from their information. He represents a wide range of clients, from small to mid-size companies to Fortune 100 companies, across the U.S. and globally in dealing with cybersecurity, data privacy, data breach and incident response, regulatory compliance, computer fraud-related legal issues and cyber-related litigation. Shawn can be reached at (972) 324-0317 and stuma@spencerfane.com. The Show-Me Banker Magazine | 19
48th Annual Convention Golf Tournament 20 | The Show-Me Banker Magazine
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How Bond Markets React to Rate Cuts By Jim Reber, President and CEO, ICBA Securities, MIBA Endorsed Vendor In just a few short weeks, the fixed-income market’s expectations for monetary policy have done a virtual about-face. This is not to say that investors are fickle. Some of this change in sentiment is data-driven, some is the Trump administration officials’ cajoling, and some is Federal Reserve Board Chairman Jay Powell’s comments in Jackson Hole, Wyoming, on Aug. 22. Regardless, market indicators have shifted from zero or one rate cuts for the rest of 2025, to as many as four. Sept. 17 will possibly be a watershed day for Fed-watchers’ expectations. Not only will we see if the Federal Open Market Committee resumes its rate-cutting, which has been on hold since last December, but we will also get an update to its quarterly Summary of Economic Projections (SEP). Since the July labor reports indicated job growth was much weaker than initially reported, the chorus for rate cuts has gone from a murmur to a roar. It's Been a Minute The last time the Fed cut rates was way back in March 2020. Veteran bankers will recall that at the outset of the COVID-19 pandemic, our central bank began injecting massive amounts of stimulus into the U.S. economy. These efforts included rate cutting, huge amounts of bond buying and market support initiatives like the Municipal Lending Facility, which backstopped states, cities and other local borrowers. These efforts were broadly successful, and liquidity in debt markets quickly returned to normal. “Normal” in this context refers to credit spreads, which are the incremental returns over and above a risk-free rate. All debt instruments will have more yield than a similar maturity Treasury bond as they have some aspects that are less safe, however minor. The widening and narrowing of these yield spreads is an indication of how much relative risk is being priced into the bond market. When rate cutting starts, there usually are two reactions by bond market investors that are predictable, viewable and significant. Follow the Leader The first is that fixed-rate investments will track overnight rates with varying degrees of correlation based on maturity. Two-year Treasury bond yields will change about 80% as much as the fed funds rate, while 10-year bond yields will move only about 45% as much. Note that this is over time, and not immediate; in fact, Treasury yields can react to a rate cut much earlier than the actual event. For example, the two-year note has yielded less than fed funds since March 2023; the long-term difference in yield is around plus-40 basis points (0.40%). This is a clear indication that the market anticipates the next move by the Fed will be to lower, not raise, rates. What this also implies is that the shape of the curve is expected to steepen. On Your Marks 22 | The Show-Me Banker Magazine
BANCMAC COMMUNITY BANC MORTGAGE CORP. YOUR COMMUNITY BANK MORTGAGE PARTNER bancmac.com mortgages@bancmac.com 888.821.7729 | NMLS# 571147 BancMac provides correspondent and wholesale lending and is your Community Bank Mortgage Partner to help your financial institution originate fixed-rate secondary market loans including: PROGRAMS • Conventional Loans • USDA Rural Development Loans • Rural Living (Hobby Farm) Loans • VA Loans • Jumbo Loans • FHA Loans OUR PARTNERS RECEIVE: • Superior Service & Competitive Pricing • No Minimum Volumes • Significant, Non-Interest Fee Income • Non-Solicit Protections & More The second action is for spreads to widen. There are both theoretical and practical explanations for this. The theory part is the mere fact that our central bank is cutting rates, which is evidence that our economy is cooling off and may be headed for a recession. If that’s true, then investors are right to demand more incremental income from borrowers who may soon be encountering solvency issues. The practice part is that, as rates fall, any bond that can be “called” (i.e., refinanced early) is more likely to be. This increased call risk, which harms investors when they purchase new bonds at lower rates, also causes investors to expect more relative return. Around 80% of bonds in bank portfolios have an embedded call feature. Call It a Draw You may be wondering: Is all this good news or bad? As in most facets of the magical world of fixed income, it’s some of both. Spread widening is bad news for the bonds that a community bank owns, as it causes prices to fall relative to risk-free assets. It’s beneficial if that same bank is looking to buy some bonds at the newly improved (meaning higher) yields. The same “win some, lose some” can be said for a steeper yield curve. The downside to a steepening yield curve is that the higher prices in the portfolio are concentrated in the shorter bonds, as that’s where most of the yield drop is felt, and bond math causes nominal price improvements to be limited. In fact, it can even happen that short rates fall while longer rates rise, in the phenomenon called a “Bear Steepener.” The upside of a steeper curve is that prices rise, and perhaps more importantly, the rest of a bank’s income picture improves. 2025 is a good testimony to this, as we finally, after more than two years, have a positive slope. Relative risk for all assets and liabilities can be properly priced, and as we have seen, the cost of financing can finally be brought under control. So ... get ready for some football, and some falling rates, just in time for fall. Jim Reber (jreber@icbasecurities.com) is president and CEO of ICBA Securities, ICBA’s institutional, fixed-income broker-dealer for community banks. Busy Fall Ahead ICBA Securities and its exclusive broker Stifel, will attend more than 10 state association events in September and October. We appreciate the opportunity to support the many ICBA affiliates which support community banking. For a schedule of our appearances visit www.icbasecurities.com. The upside of a steeper curve is that prices rise, and perhaps more importantly, the rest of a bank’s income picture improves. The Show-Me Banker Magazine | 23
Leadership Division at the Ballpark August 13, 2025, at Kauffman Stadium 24 | The Show-Me Banker Magazine
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News From You Mid America Bank Hires Ryann Kampeter as Director of Marketing Mid America Bank is pleased to announce Ryann Kampeter has been hired as assistant vice president and director of marketing. In this role, Ryann will be responsible for developing and executing strategic marketing initiatives that enhance the bank’s brand, drive client acquisition and foster revenue growth. She is a graduate of the University of Missouri. Previously, Ryann was a local sales manager with ABC17 and Fox22. “Mid America Bank is dedicated to the betterment of its clients and the communities. I look forward to fostering strong relationships and contributing to the prosperity of the organization,” says Ryann. Ryann, her husband, Jacob, and son, Hank, enjoy family time at the Lake of the Ozarks and patronizing local places in the community. Ryann is deeply passionate about the United Way of Central Missouri, where she serves on the Executive Board. She also serves as board chair for the Jefferson City Area Young Professionals. Mid America Bank would like to welcome Ryann to the team! Mid America Bank Hires Becky Lawson as Holts Summit Branch Manager Mid America Bank is pleased to announce Becky Lawson has been hired as assistant vice president and branch manager of its Holts Summit branch. In this role, Becky will be responsible for overseeing the daily operations and sales function of the branch. She will lead the branch in making sales calls, conducting training, processing transactions and setting up new accounts. Becky brings 25 years of banking experience to the team. She has a bachelor’s degree in business administration with a finance major from the University of Central Missouri. Previously, she held roles in commercial banking and operations. “I love interacting with clients and look forward to building relationships with everyone in the Holts Summit and surrounding communities,” Becky says. Lawson resides in California, where she is active in the community, having served with the Chamber of Commerce and Lions Club. She enjoys spending time with her husband and two kids, being outdoors and attending sporting events. Mid America Bank would like to welcome Becky to the team! Established in 1914, Mid America Bank prides itself on being a proud locally owned and operated community bank that’s good for you and your community, too! Visit them online at www.midambk.com. 26 | The Show-Me Banker Magazine
Contributors to the MIBA Political Action Committee are recognized for their generosity on the Association’s website and at the MIBA Annual Convention and Exhibition. Different levels of contribution have been set to recognize supporters of our Political Action Committee fund and to make the Association’s membership more aware of this important facet of our work on behalf of the political agenda of community banks across Missouri. PAC HONOR ROLL 2025 October 1, 2025 NOTE: PERSONAL or CORPORATE CAMPAIGN CONTRIBUTIONS TO ANY PAC ARE NOT DEDUCTIBLE IN ANY AMOUNT FOR FEDERAL TAX PURPOSES. President’s Fair Share Level $10 per Mil in Deposits and up Adrian Bank Bank of Advance Bank of Old Monroe Bank of Salem Blue Ridge Bank and Trust Co., Independence BTC Bank, Bethany Community Bank of Pleasant Hill Community Bank of Raymore Community State Bank of Missouri, Bowling Green Exchange Bank of Missouri, Fayette Exchange Bank of Northeast Missouri, Kahoka Farmers & Merchants Bank, St. Clair FCNB Bank, Steelville First Bank of the Lake First Independent Bank, Auroa First State Community Bank, Farmington Jonesburg State Bank Metz Banking Company, Nevada Midwest Independent BankersBank, Jefferson City Midwest Regional Bank, Clayton New Frontier Bank, St. Charles Northeast Missouri State Bank, Kirksville Peoples Bank & Trust Co., Troy Peoples Bank of Altenburg Peoples Bank of Wyaconda, Kahoka Peoples Savings Bank, Hermann Preferred Bank, Rothville Regional Missouri Bank, Marceline Security Bank of the Ozarks, Eminence Sherwood Community Bank, Creighton The Missouri Bank, Warrenton Tipton Latham Bank, NA Town & Country Bank, Salem Verimore Bank, Brookfield Platinum Level $750 and up Citizens Bank, New Haven F&C Bank, Holden Mid America Bank, Wardsville Gold Level $400- $749 1st Advantage Bank, St. Peters Community Point Bank, Russellville Farmers State Bank, Cameron Legends Bank, Linn Silver Level $200- $399 Bank of Crocker Chillicothe State Bank Silex Banking Company State Bank of Missouri, Concordia Individual Donations John Allee, Tipton Don & Lisa Becker, Tipton Calen Bestgen, Tipton H.E. Blankenship, California Carl Blochberger, Tipton David Johansen, Syracuse Sue Ann Loesch, Jefferson City Karen Messerli, California Bobby Schatzer, Latham Lori Woratzeck, California
Welcome New Associate Members Linker Finance (202) 659-8111 | www.linkerfinance.com Specializing in lending and financial facilitation, Linker Finance offers community banks flexible funding solutions and support tailored to smaller markets. Their commitment to efficient service and financial empowerment makes them a valuable addition to our member network. Dormakaba (573) 499-1955 | www.dormakaba.com/us-en Dormakaba is a global leader in access solutions, security and safety products, offering innovative door hardware, keyless entry systems and comprehensive access control services. Their solutions help financial institutions strengthen safety and efficiency, and we look forward to the value they bring to our membership. CyberAssurance (319) 900-5666 | cyberassurancenow.com As experts in cybersecurity consulting, risk assessment and regulatory compliance, CyberAssurance provides tools and training to protect financial institutions from digital threats. We look forward to their insight helping our banks strengthen both security and trust. Smiley Technologies (501) 219-2922 | www.sibanking.com Focused on IT infrastructure, systems integration and technical support, Smiley Technologies helps banks modernize operations while maintaining reliability and uptime. Their technical expertise is a strong asset for institutions navigating today’s evolving technology landscape. Welcome New Bank Members Wood & Huston Bank (Marshall) www.woodhuston.com Wood & Huston Bank brings a long-standing tradition of personalized banking services, local decision-making and strong community ties. Their membership adds diversity and a grounded perspective to our collective membership. Progressive Ozark Bank (Salem) www.progressiveozarkbank.com Known for customer-first service, small-town banking values and a growing presence in regional markets, Progressive Ozark Bank is committed to the people it serves. We’re glad to have them join our network. Lindell Bank & Trust Company (St. Louis) www.lindellbank.com With a focus on trust services, commercial banking and relationship-driven financial solutions, Lindell Bank & Trust Company brings expertise from the city’s vibrant marketplace. We look forward to the experience and innovation they contribute. 28 | The Show-Me Banker Magazine
Cybersecurity Awareness Month Creating Partnerships to Raise Cybersecurity Awareness at Home and Abroad By the Cybersecurity & Infrastructure Security Agency Since 2004, the president of the United States and Congress have declared October to be Cybersecurity Awareness Month, a time dedicated for the public and private sectors to work together to raise awareness about the importance of cybersecurity. Over the years, it has grown into a collaborative effort between government and the industry to enhance cybersecurity awareness, encourage actions by the public to reduce online risk and generate discussion on cyber threats on a national and global scale. October 2025 marks the 22nd Cybersecurity Awareness Month. Four Easy Ways to Stay Safe Online Let’s work together to build a safer digital world. We can increase our online safety through four simple actions, and whether at home, work or school, these tips make us more secure when connected. Take time to discuss them with family, friends, employees and your community so we can all become safer online! 1. Use Strong Passwords Simple passwords, such as 12345, or common identifying information, like birthdays and pet names, are not safe for protecting important accounts holding personal information. Using an easy-to-guess password is like locking the door but leaving the key in the lock. Weak passwords can quickly be broken by computer hackers. But it’s impossible to remember a unique, strong password for every account! The good news is that creating and storing strong passwords with the help of a "password manager" is one of the easiest ways to protect ourselves from someone logging into our accounts and stealing sensitive information, data, money or even our identities. 2. Turn on MFA Multi-factor authentication (MFA) provides extra security by confirming our identities when logging in to our accounts, like entering a code texted to a phone or one generated by an authenticator app. MFA increases security and can make us significantly safer online. Even if an unauthorized user steals your password, they won’t be able to meet the second-step requirement to access your accounts. 3. Recognize and Report Phishing Phishing occurs when criminals try to get us to open harmful links, emails or attachments that could request our personal information or infect our devices. Phishing messages or “bait” usually come in the form of an email, text, direct message on social media or phone call. These messages are often designed to look like they come from a trusted person or organization to get us to respond. 4. Update Software Many people might select “Remind me later” when they see an update alert. However, many software updates are created to fix security risks. Keeping software up to date is an easy way to stay safer online. To make updates even more convenient, turn on the automatic updates in the device’s or application’s security settings. For more information or questions, please email awarenesscampaigns@mail.cisa.dhs.gov. The Show-Me Banker Magazine | 29
Advice to New Compliance Officers By Aubree S. Rehmke, CRCM, Consultant, Vantage Point Solutions I have spent my entire career working for financial institutions. After graduating from college, I started as a teller and quickly transitioned my way through several positions, spending the majority of my profession as a compliance officer and BSA officer for a small community bank. Today, I work as a consultant with Vantage Point Solutions, performing audit and consulting services for small to mid-sized financial institutions. Over the years, I have met many novice compliance professionals, and one commonly shared frustration I hear is that they aren’t sure where to start. In the span of almost 20 years, I have learned many lessons (and have made many mistakes). I want to pass that knowledge on to those who may be lacking the mentorship that is essential to navigating this role. So, if you are reading this and are new to compliance management, here are my two cents on the things you can do to make this job a little easier for you. Get Organized Compliance officers are expected to know and manage a considerable amount of information, from policies and procedures to consumer regulations to monitoring and training. Therefore, it is extremely important to build a compliance management program, or what we in the profession sometimes call our “house of compliance.” Some institutions have the luxury of purchasing software to help manage the compliance function. However, if you are like me and do not have that convenience, then you may need to build your “house” from scratch. It works best for the compliance department to maintain a folder on the institution’s network or intranet where all the electronic compliance-related items are stored. For ease of use, this “house” can be organized in such a way as to include a separate folder for each of the pertinent compliance areas, for example: 1. Board and Management Oversight: Used to house all of your board reports, requests for approval, compliance committee meeting minutes, etc. 2. Policies: Used to store all the institution’s approved written policies as well as the annual policy reviews and amendments. 3. Procedures: Used to store all of the institution's written procedures. Consider breaking this down by department, then by task or function. 4. Risk Assessments: Used to house all of the compliance-related risk assessments, organized by annual review year or by type of assessment. 5. Monitoring and Auditing: Used to store ongoing monitoring functions performed by the compliance and/or BSA role in addition to third-party compliance audits, self-reported violations, corrective action, remediation tracking, etc. 6. Training: Used to store compliance training organized by year or topic in areas such as online course assignments, handbooks, materials, employee acknowledgments, board training, etc. 7. Consumer Complaints: Used for all consumer complaints, incidents, investigations, logs, responses and management reports. 8. Change Management: Used to store the tracking of new or changing regulations, products and services, and new business processes or strategies. 9. Regulatory Exams: Used to store regulatory exam information, request lists, collected exam documents, exam reports and corrective action/remediation. 10.Compliance Library: Used to store tools, news articles, agency notices, FAQs, checklists, worksheets, flowcharts, training materials and any other resources you have collected over time to aid in the compliance officer role; organized by topic or regulation. Now, obviously, this is just one way to do it. In my experience, this folder system ran like a well-oiled machine after the initial setup. After you create some kind of organization for your electronic house of compliance, you will be more efficient and find it easier to locate important documents and other resources. If you have inherited the previous compliance officer’s folder system, consider taking the time to reorganize it into a structure that will work best for you and your organization. Create a Project Tracker With so many different projects occurring at different points throughout the year and at different frequencies, consider maintaining some kind of project tracker. Again, if you are not using software to assist in managing this function, I highly recommend an Excel spreadsheet and/or setting calendar reminders or tasks. The tracker or calendar can be comprised of all the different compliance 30 | The Show-Me Banker Magazine
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