2026 ISSUE 5 Background on Incoming MIBA President Chuck Gnuse
LIQUIDITY REVIEW A review is conducted of your liquidity position using safe and sound banking practices. The review will focus on policies and procedures, funding plan and testing, and monitoring and reporting. COMPLIANCE SERVICES • ACH Audit • BSA/AML/CFT Audit • Directors’ Examination • Lending Compliance Audit • Deposit Compliance Audit • Interest Rate Risk Review • Home Mortgage Disclosure Act (HMDA) Review • Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act Audit LOAN REVIEW SERVICES We specialize in loan review and compliance services for community banks throughout the Midwest. mibanc.com/audit NOVEMBER 4-5, 2026 AMERISTAR CASINO & CONVENTION CENTER ST. CHARLES, MO Eric Cook, MBA CEO/Chief Digital Strategist, WSI AI in Banking: From Disruption to Strategic Advantage Terry Rich, Motivational Speaker How a Lottery Ticket, a Hot Dog and Bigfoot Foiled the Largest Lottery Fraud in U.S. History Featured Speakers: Rebecca Mullen, CFP, VP/Compliance & AML/CFT Officer Branson Bank Our Weakest Link Allen North, Group VP, Community & Regional Bank Supervision Federal Reserve Bank of St. Louis Regulatory Update
INSIDE THIS ISSUE PO Box 1765 Jefferson City, MO 65102 (573) 636-2751 | miba.net Editor: MATTHEW S. RUGE Executive Director ©2026 The Missouri Independent Bankers Association (MIBA) | MBR Connect™. All rights reserved. The Show‑Me Banker is published six times per year 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 (801) 676-9722. Published for the Missouri Independent Bankers Association 4 PRESIDENT’S MESSAGE Community Bankers Build Trust and Relationships 5 FROM THE TOP The Lasting Community Bank Legacy 6 FLOURISH Leading with Heart 7 2026 Community Impact Award Recipient PSB Bank 7 Welcome to the 2026‑2027 MIBA Officers 8 BACKGROUND ON Incoming MIBA President Chuck Gnuse President and CEO of United State Bank 10 MEET YOUR MISSOURI BANKER Amanda Benz Head Teller/Security Officer, Community Point Bank 12 MIBA Lobbying Report 12 Welcome, New Bank Members 13 49th Annual Convention & Expo 16 Thank You to Our Convention Sponsors! 18 49th Annual Golf Tournament 20 LEGAL EAGLE SPOTLIGHT Fraudulent Wire Transfers: Who Bears the Loss? 22 Leadership Division at the Ballpark 2026 July 22 23 2026 PAC Honor Roll September 1, 2026 24 Collateral Advantage The MBS Market Offers a Kaleidoscope of Opportunities 26 News From You 30 Welcome, New Associate Members 31 ICBA LIVE Las Vegas, March 1-4, 2027 32 What Does the New Reciprocal Deposit Legislation in the Housing Act Mean for U.S. Banks? 34 MIBA Associate Members 36 MIBA’s Endorsed Vendors Are Ready to Help You Go Further 37 Upcoming Events 2026 38 Upcoming Webinar Schedule 40 2026 Women in Community Banking Conference November 4-5, 2026 13 26 10 8 The Show-Me Banker Magazine | 3
PRESIDENT’S MESSAGE Community Bankers Build Trust and Relationships Chuck Gnuse MIBA President, United State Bank The 49th Convention was one for the books! Monday started at The Cove golf course, where MIBA members, vendors and sponsors took to the course to show off their golfing skills. Some succeeded, and others simply enjoyed seeing friends, networking and visiting with many of the vendors that attended the conference. The general session featured speakers and vendors who were knowledgeable and shared information and products that could help community bankers in this ever-changing profession. Hopefully, everyone found a new product or service that they are willing to find out more about to help your bank thrive. The scholarship auction was a huge success! I am always impressed by all the donations from banks and other businesses to help this important cause. It is exciting to know that the money raised will go directly to bank employees and/or their dependents to further their education. Conventions like this could not be possible without everyone working behind the scenes. Planning for an event of this caliber takes time, patience and creativity. With that said, I would like to thank Matt, Michelle, Jessica and Rebecca for their hard work to make sure things went smoothly while ensuring everyone had a great time! I would also like to thank the vendors and the sponsors. Their support and prizes on the golf course, in the expo, and within general sessions were much appreciated. I would also like to thank Curt Brumley for his commitment to MIBA as past president. He has given his time, talent and energy in many capacities. Thank you for your dedication to community banks and the MIBA. I mentioned that banking is an ever-changing profession. The development of technology must be one of the largest changes I’ve seen throughout my career. Banking used to be facility-based and paper-driven. Today, mobile and online banking allows customers to make deposits, withdraw money, pay bills and open/manage accounts without stepping into a facility. The transfer of money between accounts is also much faster. The use of apps on smartphones allows customers to bank from anywhere. The services banks provide have changed significantly in the past 30 years and will continue to do so. Our task as community banks is to continue to provide new services and technology while having strong security in place for online fraud, technology outages or cyberattacks. As technology continues to advance, our task is to keep our institutions and our customers’ finances safe. We must remember that community banks take pride in building relationships with customers. Even though technology allows patrons to do a lot of remote banking, it is still important to encourage visits to our brick-and-mortar locations. It helps build trust, can provide financial advice and allows for personal assistance. Keeping customers informed about the dangers of fraud and having open communication lines with them will help community banks maintain long-term loyalty, stability and growth while competing with mega-banks. 4 | The Show-Me Banker Magazine
FROM THE TOP The Lasting Community Bank Legacy Alice Frazier Chair, ICBA Community banks stand the test of time. We’re celebrating banks that have been around for 100, 150, 200 years, and that’s an achievement to be honored — but it’s not surprising. That’s because community banks dive deep into connection. That intention to know our customers, to know our communities, makes us a part of something bigger. We offer more than a transaction; we offer a relationship. Making It Personal Banking is very personal. You’re taking care of people’s money and helping them strengthen their financial well-being. To do that successfully, you have to build trust and form long-term relationships. Everything we do centers on building trust and caring for the individual. Modern technological advancements simplify those interactions, but we pursue them with the goal of supporting our customers more fully. We care, and that core sentiment transcends what we do. For instance, our branch teams are used to seeing certain clients regularly. They come every Wednesday or stop in twice a week or they call. When they don’t show up and it’s unexpected, we reach out. In fact, recently, when our team reached out to a client, we found out this particular individual had been sick and needed help, and we were able to intervene and provide support. Or consider that one of our collections officers regularly worked with husband-and-wife borrowers who were nearly always late with payments. They were struggling, and our team always worked with them. So, when a family member passed away and left them a million-dollar estate, they came in to see their collections officer, because in their mind, he was their banker who took care of them. Adapting for the Future We remain relevant precisely because we are both committed to our clients and also willing to adapt to the changing times and the services that need to be offered. We have thrived in our communities for hundreds of years because we prioritize the relationship and support it with the banking tools that exceed customer expectations. We utilize modern technology to offer new paths to interacting and engaging with our banks, but what keeps our customers returning is the fact that we’ll always be there in person when they need it, and we’ll know them as a client. So, as we adapt to address competitive pressures, introduce new technologies and deliver on needs, we do so with our customers at the center. If everything we do begins and ends with building trust and caring for the individual, there is no doubt that we will continue to flourish for centuries to come. Quote of the Month “Enjoying success requires the ability to adapt.” — Nolan Ryan The Show-Me Banker Magazine | 5
As community bankers, our customers and communities are at the heart of everything we do. Our products, our technology stacks, our teams: They are all built to meet the needs and interests of those we serve. In the community bank model, we put the relationship first, and that makes all the difference. That’s because the customer-first mentality drives results, both in attracting and retaining customers and in building our businesses. We are not seeking to identify the most profitable approach; we’re singularly focused on knowing and understanding customer needs, which makes our customers and communities feel heard, understood and supported. When we live by that vision, the revenue follows. We don’t have to wheel and deal to make the next sale; we simply need to listen to what our customers are telling us. Relationships at the Heart of Service And as the banking experience continues to evolve, the relationship remains at the heart of what we do. We build teams who have deep knowledge of today’s banking environment to be on top of emerging topics for our customers. We advocate for fair legislation and regulation that support our communities. We leverage technology to enhance the customer experience, with tools like AI creating efficiencies and more intuitive interactions but never replacing the personal relationship we have with each customer. This distinction is also what makes community banks resilient. During my remarks at ICBA LIVE, I asked bankers to stand up as I called out years of bank longevity, and you would not believe the number of bankers standing when I reached 100 years in business. That longevity and perseverance is recognized as we celebrate banks that have been around a century and more. These milestones are both an inspiration and a testament to the community bank model. It comes back to the fact that our model works. There has been no shortage of challenges in our paths, but we remain America’s leading banks because of who we are and what we represent. Our customer-first model transcends market shifts, legislative and regulatory hurdles, and new forms of competition precisely because it comes from the heart. So, as we get inspired by the milestones our peers have set, let’s do it with an eye on the opportunities that await us as we continue to put our customers at the center of all we do. Without a doubt, the future of banking is community banking, and we have the privilege of continuing this legacy by putting our hearts into what we do and who we serve. FLOURISH Leading with Heart Rebeca Romero Rainey President and CEO, ICBA 6 | The Show-Me Banker Magazine
2026 Community Impact Award Recipient PSB Bank WELCOME to the 2026‑2027 MIBA Officers Matthew S. Ruge, executive director of the Missouri Independent Bankers Association, announced the election of the group’s new officers for the 2026-2027 term at the 49th Annual Convention & Expo. Chairman of the Board Jack Hopkins Community Bank of Raymore President Chuck Gnuse United State Bank, Lewistown President-Elect Kim Reigelsberger Preferred Bank, Rothville Vice President Dale McDonald Bank of Old Monroe Secretary-Treasurer Benjamin Polen Carroll County Trust Company, Carrollton Congratulations to PSB Bank on receiving the 2026 Forvis Mazars Community Impact Award for its Community Involvement initiatives! Now in its 20th year, this award continues to honor institutions that demonstrate excellence across three pillars of impact: employee involvement, community engagement and financial contribution. The dedicated judging panel — comprised of Jennifer Smithson and Carrie Hutcherson of F&C Bank, Tom Klebba of Legends Bank, and Charla Whalen-Mueller of Bank of Old Monroe — utilized their knowledge and expertise in their assessments, and one theme continually rose to the top: community involvement. While many organizations encourage community involvement, PSB Bank demonstrates that service is woven into the fabric of their culture. Their Community Involvement initiatives demonstrate that employees are deeply committed to giving their time, talents and resources because they genuinely care about the people and causes they support. Their dedication extends far beyond volunteer hours or financial contributions. It is reflected in the relationships they build, the organizations they champion and the meaningful impact they make every day throughout their community. Simply put, community involvement is not just something PSB Bank does. It is who they are. Congratulations, PSB Bank, on this well-deserved honor, and thank you for the lasting impact you continue to make in the communities you serve. The Show-Me Banker Magazine | 7
INCOMING MIBA PRESIDENT Chuck Gnuse President and CEO of United State Bank BACKGROUND ON What does community banking mean to you? Community banking is in my blood. I grew up watching my grandfather, father and uncle meet with local businesspeople to see what their business needs were. As a community banker, I live in the area I serve. Our bank provides fast and friendly service that is personalized for individual and business needs. Being locally owned and operated, our bank is able to make quick and informed decisions for our clientele. As a community bank, we also place a strong focus on reinvesting in our communities to grow and remain strong. This local investment helps create jobs and support businesses in the area. Being active in our community creates long-standing relationships with customers, schools and businesses, while fostering future generations of customers. How long have you been involved with MIBA? Our bank has been a proud member of MIBA since 2017. What goals do you have as president, and what can members do to help you reach them? As president, I will continue to work towards safeguarding community banks so they remain competitive with mega-banks. I would also like to help in any way to increase membership of MIBA to create an even stronger network of community banks in the state of Missouri. Members of MIBA need to be active in state legislation, so community banks are not burdened with excessive regulatory requirements. What are the benefits of membership in MIBA? MIBA has many benefits, the most important being the collaboration with other community bankers. There are endless opportunities to brainstorm, discuss, plan, implement and solve issues which are unique to community banks. The education that MIBA offers is also vital to successful bank operations with educated staff members. Finally, the legislative and regulatory representation protects community banks, while working with lawmakers to create policies that are favorable to them. 8 | The Show-Me Banker Magazine
From your perspective, what are the biggest challenges facing the industry today, and how can MIBA help address them? One challenge banks face today is fraud. Banks will continue to fight unauthorized transactions, phishing scams, identity theft and cybersecurity issues. Bank employees will need continued education on the type of fraud that is happening and how to identify it. Most importantly, all staff members will need to be vigilant with the safeguard processes the bank implements to protect customers, accounts and the bank. New challenges will arrive with AI fraud, and banks will be tasked with trying to stay ahead of the game with safety protocols. MIBA can help our community bankers stay on top of the latest and greatest tools while providing education to remain competitive in the financial sector and try to avoid issues of fraud. then allows me to make accurate and impactful decisions, if needed. Being a leader who listens helps create a positive work environment and reduces stress that can occur in any workplace. How do you manage to balance your professional responsibilities with your personal life? As president of the bank, it is important to set boundaries with the understanding that flexibility is always important. When I am out of the office, customers and team members can reach me via cell phone, email and other online platforms. On the flip side, when I am in the office, I am available to my family when needed. Today’s technology really helps me easily stay connected while spending time with family and friends. In a family-owned business, there is always a fine line between professional and personal time, but I try to always be 100% present in whichever role I am engaged in. Any last thoughts for the community bankers in Missouri? Use the benefits that you receive with MIBA membership. There are many educational and networking opportunities that can help you make your bank better than ever. We are all in this together, and hearing issues and solutions that other banks have may help you with similar issues, while what you face may help others. Chuck Gnuse had a solid run at 120 mph in three-quarters of a mile in his SPM 37 XPR at the Lake of the Ozarks Shootout, the largest powerboating event in the world. What has been the most rewarding part of your career? The most rewarding part of my career has been the ability to help individuals and businesses achieve their financial goals. Watching customers grow their wealth, open businesses, build homes, purchase land, invest and acquire more farm ground, among other things, makes our banks’ hard work worthwhile. All of these opportunities allow us to give back to the community members who help with our success. It is an honor to help schools, sports teams, food banks, fundraisers and other local organizations. What is the best advice you have ever received, and how was it applied in your daily life? Having my father, Don, as my role model helped me become who I am both personally and professionally. One piece of wisdom that he often shared with me is a famous quote from Mark Twain: “If we were meant to talk more than listen, we would have two mouths and one ear.” I use this advice both professionally and personally. Throughout the years, I have learned that people need to be heard. My employees, children, wife, or friends may come to me with a problem or a hard decision, and the most important thing to do is listen. Often as I listen, the person is really working through their decision and actions. It builds trust and shows the person they are valued. It also helps reduce conflict as worries are vocalized before they become bigger. Most importantly, it helps others and me become better problem-solvers. Having this open communication The Show-Me Banker Magazine | 9
MEET YOUR MISSOURI BANKER Amanda Benz Head Teller/Security Officer, Community Point Bank Where are your main bank and branches located? What is the market like? Our original location is in Russellville. Our first branch was opened in Eugene over 15 years ago, and a third location followed in Versailles. We are a largely agriculture-based bank, dealing a lot with families and, of course, farmers. But we have a wide variety of customers and cater to several different types of accounts and customers. What is something unique about your bank? Our level of customer service really sticks out to me. We are a hometown bank that strives to get to know our customers so we can provide the best personalized service that we can. We are from, and still live in, the communities that we are serving. Our customers are our neighbors, friends and family, and we are proud to take care of them in the best possible way available to us. We changed our name close to 15 years ago, and I was part of that team. We worked with a marketing company to come up with the new name, and it became apparent to them very quickly that “community” would have to be part of our name because of how close we are with our customers. How did you get started in the banking business? I was actually graduating from Missouri State University and needed a break from the current field I was working in. It was a very emotionally demanding and highly stressful field, so I was looking for a job that would allow me to take a step back for a bit to regroup. I was hired on as a teller here, thinking it would be for a little while until I was ready to go back. It turns out I found my career and never left. This year, it will be 21 years since I started with the bank, and it has flown by. I found it by chance and am glad every day that I did. What is the most important thing you have learned from this career so far? Everyone has something to teach others. Everyone can have their own expertise and their own story to share. I have been at this job for a couple of decades now and have met people from all walks of life. It’s made me be more open to so many more opportunities, not just in my career but in life as well. I 10 | The Show-Me Banker Magazine
know that I don’t know everything, and I can learn something from just about anyone. It may be something large, or it may be something almost inconsequential. But it keeps it interesting and can really open up the relationship between you and the customer when you’re willing to listen and learn what they have to share. What prompted you to want to begin a career in banking? It was something I kind of fell into. Honestly, banking had never been anywhere on my radar. I had been focused more on the social sciences, and I wanted to help people. And much to my surprise, I have ended up in a job where I have that opportunity every day. I didn’t set out to start a career in banking, but every day is a reminder that I ended up where I am supposed to be. Every interaction with one of our customers is an opportunity to fix something, to make something better, to make something easier for them or maybe just brighten their day for a minute. What is the most interesting thing you have learned from this transition to the banking industry? The transition from “this is just a temporary job” to “this could be something I actually make a career out of” came when I saw how involved we actually can be in our customers’ lives and how much of an impact we can have. Working for a hometown bank is so much more than just running transactions, opening accounts or answering phones. We become someone our customers know and trust, someone they can turn to in a time of need, whether big or small. I have been called to help with anything from someone thinking they have fraud on their account to someone who thought their Facebook account was hacked, and when they couldn’t get a hold of anyone else, they knew the bank was right down the road and that we would help. It is humbling to know how much they can trust us, and it is something that makes me strive to be worthy of that trust. Tell us about the bank’s community investment efforts. Community Point Bank invests in our community every day in so many different ways. From simply lending our tents for shade at a fundraiser to providing financial backing for the local fireworks show every year, we have done it. We provide scholarships to local graduating students and donate every week to different organizations, groups and school activities. Every year, we invest in the up-and-coming generations through 4-H activities, supporting the local fairs and so on. Twice now, we have been fortunate enough to be able to help a local school get a brand-new football program running and get the new scoreboards up. And beneath all of that is the financial service we provide for our communities. We work hard every day to make sure the products we offer benefit our customers and fill the financial needs of the area we are serving. From checking accounts to home loans, from donations to actually showing up and helping with events, we are here for our community. What is the bank’s biggest challenge in the area of online/mobile banking? Fraud. I cannot stress that enough. It is growing and changing every day, and working to stay on top of the latest trends or the next scam can be a full-time job. Whether it is fraudulent charges on a debit card or a fake check that has been mobile deposited, it is a challenge that affects all areas of the bank. One reason I really appreciate how well we get to know our customers is that it helps us in fighting fraud, and if they know us just as well and trust us, they are more likely to come to us for help. What’s your favorite thing about your bank or banking in general? As cliché as it may be, it’s knowing I can help my customers. It is the relationships we form over the years, and when they don’t hesitate to call you for help, it makes it all worth it. One time, I had an elderly couple come to me at the bank because a scammer was calling them, harassing them about owing money. Technically, it had nothing to do with the bank yet, but I was happy to call the scammer back with them and prove it was a scam. I managed to get the message through to the caller that now that I was involved, they would not be getting any money from the couple. I was able to help remove that problem from their lives before it affected them more. They came to us because we had helped them throughout the years, and they knew we would again. Knowing you can have even a small impact on someone’s life to help make it better, that they will trust that you will be there for them, will always be the thing that keeps me coming back. If you didn’t have a career in banking, what other career would you choose? I have always been interested in psychology: what makes people who they are and how that dictates and affects how they act and grow in life. It is fascinating to me how people from the same area can see and react to the exact same situation so differently. I was working in a social service job that was furthering my interest in human behavior, so I may have pursued something in that field had I not found a career in banking. The Show-Me Banker Magazine | 11
Last September (2025), Gov. Kehoe called the legislature back for a special session to redraw the state’s eight congressional districts. The goal was to create seven safe Republican seats and one safe Democratic seat. The state’s current congressional makeup is six Republican seats and two Democratic seats. The result of the special session, in which some extraordinary measures were taken to accomplish this task, chiefly among them changing the Senate rules to avoid prolonged debate, was a 7-1 map to be used during the 2026 election cycle. However, the Missouri constitution allows citizen-led referendums as a check and balance on legislative action, and a group emerged to petition for a public vote on the new congressional map. After much confusion and political and legal wrangling, the new 7-1 map used to pick candidates for the general election this November was ruled never to have been in effect because of a valid referendum petition. Therefore, the map that will be used in November will be the 2022 map. This means that the candidates picked during the August primary under the 2025 map will have to run in the districts created in 2022. Although the 2025 map significantly changed three of the eight districts, only the fifth district was changed to favor a Republican over the current Democrat. Thus, the current 6-2 congressional makeup will most likely remain the same. If voters approve the referendum on the 7-1 map in November, the 2025 map will be used in 2028. If voters reject the 2025 map, the 2022 map will most likely remain in effect through 2030. MIBA Lobbying Report Southwest Missouri Bank Southwest Missouri Bank provides personal and business banking, lending, trust and investment services with an emphasis on local relationships and local decision-making. The bank is committed to helping individuals, families and businesses throughout southwest Missouri reach their financial goals. smbonline.com Goppert Financial Bank Goppert Financial Bank is a locally focused community bank offering personal and business banking, lending and other financial services. Through friendly service and local decision-making, the bank is committed to building lasting relationships and supporting the communities it serves. goppertfb.com Welcome, New Bank Members By Andy Arnold Arnold & Associates 12 | The Show-Me Banker Magazine
Convention 49th Annual & Expo MIBA’s 49th Annual Convention & Expo was held Sept. 14-16 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 miba.net. The Show-Me Banker Magazine | 13
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To view more photos, please scan the QR code or go to miba.net/annual-convention.html. The Show-Me Banker Magazine | 15
49th Annual GOLF Tournament 18 | The Show-Me Banker Magazine
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LEGAL EAGLE SPOTLIGHT By Spencer Fane LLP Wire transfer fraud continues to create significant losses for businesses, consumers and banks. Business email compromise, compromised online banking credentials, fraudulent vendor instructions and other schemes can result in hundreds of thousands — or even millions — of dollars being transferred before anyone realizes something has gone wrong. When that happens, one question quickly comes up: Who bears the loss? For banks, the answer often begins with Article 4A of the Uniform Commercial Code (UCC). Unlike many electronic transactions involving consumer accounts, wire transfers have traditionally been excluded from the federal Electronic Fund Transfer Act and Regulation E. Article 4A instead provides a comprehensive statutory framework governing the rights and obligations of parties to wire transfers. Security Procedure is Critical When a fraudulent wire is sent in the name of a bank customer, UCC § 4A-202 provides an important framework for determining whether the customer or the bank bears the resulting loss. A bank may generally shift the loss to its customer when four critical requirements are satisfied: (1) the bank and customer agreed to a security procedure; (2) the procedure was commercially reasonable; (3) the bank acted in good faith; and (4) the bank actually complied with the agreed security procedure. If those requirements are not satisfied, the bank may be unable to charge the customer’s account for the unauthorized wire and may be required to refund the payment, potentially with interest. This makes the bank’s wire transfer agreement more than routine documentation. Article 4A defines a “security procedure” as a Fraudulent Wire Transfers: Who Bears the Loss? 20 | The Show-Me Banker Magazine
procedure established by agreement between the customer and the bank to verify that a wire was actually authorized by the customer or to detect errors in its transmission or content. Without an agreed-upon security procedure, the bank may bear the loss from an unauthorized wire transfer. Merely having a security procedure, however, is not enough. It must also be commercially reasonable. Commercial reasonableness is determined by considering factors such as the customer’s expressed wishes; the size, type and frequency of the customer’s typical wire transfers; alternative procedures offered by the bank; and procedures commonly used by similarly situated banks and customers. Importantly, Article 4A does not require the bank to employ the best available security procedure. The question is whether the procedure is reasonable for that particular bank and customer. Banks must also follow the procedure they establish. A well-drafted agreement offers little protection if employees bypass the required authentication steps when processing a wire transfer. Likewise, Article 4A requires the bank to act in good faith — meaning both honesty in fact and observance of reasonable commercial standards of fair dealing. What if a Hacker Compromised the Customer? Even where the bank satisfies these requirements, the analysis may not be over. Under UCC § 4A-203, the customer may avoid liability by establishing that the fraudulent order was not caused, directly or indirectly, by someone entrusted with wire responsibilities, someone who obtained access to the customer’s transmitting facilities, or someone who obtained security information from a source controlled by the customer. That can make the source of the compromise enormously important. If a fraudster gained access through the customer’s own systems or transmitting facilities, the customer may ultimately bear the loss even though the customer did not intentionally authorize the transfer. Don’t Overlook Beneficiary Name and Account Number Discrepancies Another increasingly important issue involves fraudulent wire instructions that identify the intended beneficiary by name but provide an account number belonging to the fraudster. UCC § 4A-207 generally permits a beneficiary’s bank to rely on an account number in processing a wire under specified circumstances. Banks should therefore ensure that their account and wire agreements clearly explain that payment may be made based on the account number supplied by the originator, even when the beneficiary name identifies someone else. Banks should not assume, however, that § 4A-207 eliminates every possible source of liability. Some courts have permitted a negligence theory against a beneficiary bank when the allegations identified significant problems surrounding the opening and maintenance of the fraudster’s account and the bank’s knowledge of discrepancies involving the beneficiary information. Takeaway for Banks Wire fraud liability frequently hinges on decisions made long before the fraudulent wire arrives. Banks should periodically review their wire agreements and security procedures, confirm that the procedures remain commercially reasonable for their customers, document alternative security measures offered to customers, train employees to consistently follow established procedures and include appropriate beneficiary name/account number provisions in their agreements. When a fraudulent wire occurs, speed matters — but so does the bank’s documentation. A bank that can demonstrate exactly which security procedure was agreed upon, why it was commercially reasonable and how it was followed will be in a substantially stronger position. 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 • FHA Loans OUR PARTNERS RECEIVE: • Superior Service & Competitive Pricing • No Minimum Volumes • Significant, Non-Interest Fee Income • Non-Solicit Protections & More BANCMAC COMMUNITY BANC MORTGAGE CORP. YOUR COMMUNITY BANK MORTGAGE PARTNER bancmac.com mortgages@bancmac.com 888.821.7729 | NMLS# 571147 The Show-Me Banker Magazine | 21
LEADERSHIP DIVISION AT THE BALLPARK 2026 July 22 Food Sponsor Hospitality Suite Sponsor Young Banker Ticket Sponsor Corporate Sponsor Thank You, Sponsors! Kauffman Stadium Kansas City, MO 22 | The Show-Me Banker Magazine
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Collateral Advantage The MBS Market Offers a Kaleidoscope of Opportunities Many community bankers are beginning to get serious about their bond portfolios as liquidity has normalized and rates have stayed, shall we say, buoyant. It occurs to me that the still-visible 2022-2023 selloff has created at least one byproduct that is both unusual and tangibly beneficial for future performance. Portfolio managers continue to embrace mortgage-backed securities (MBS) for several reasons. One is that MBS are loan surrogates. Since community banks are lenders by definition, the monthly cash flows are well understood and a nice fit for the balance sheet and interest rate risk. Using 600-plus banks in The Baker Group bond accounting population as a proxy, nearly half of the dollars in these portfolios are in some form of MBS: fixed- or floating-rate, straight pass-through or collateralized mortgage obligation (CMO). Each MBS pool is backed by hundreds, if not thousands, of conforming mortgages that have been underwritten to uniform standards. This allows securities to be compared with one another and for prepayment histories of given cohorts to serve as a basis for projecting future behavior. This is also one reason for the terrific liquidity in the pass-through market. There have been several lengthy periods recently when an investor in the mortgage market was limited to buying bonds with a narrow range of coupons. For much of the past 18 years or so, “small range” has been synonymous with “low.” In nine of those years, fed funds were anchored at 25 paltry basis points (0.25%). Although there isn’t a high degree of correlation between overnight rates and 30-year mortgages, when money-market yields are “accommodative” (Fed-speak), it’s not likely that longer rates are historically impressive. The Opportunity Now, as community bankers try to set up their bond portfolios to take advantage of what’s available, there is a wide range of options. One time-tested strategy is to diversify. (In fact, when is that not a good idea?) Sometimes that means the issuer name, weighted average maturity (WAM) or even the age of the pools. In 2026, it can also mean coupons. By Jim Reber, Managing Director-ICBA Relations, The Baker Group, MIBA Endorsed Vendor 24 | The Show-Me Banker Magazine
On the path to a new MSP? Whatever the case, we want to equip you to find the best MSP for your business needs (even if it’s not us). Are you on track to outgrow your Managed Service Provider? Or are they causing more pain than they’re solving? Curious? See it all in our MSP Partnership Handbook for Community Banks at: JMARK.com/rightpath COMPREHENSIVE IT SOLUTIONS Or talk to us at 844-44-JMARK. Let’s say you’re in the market for 15-year stated final MBS, and you ask your favorite brokers to show you several examples. There is currently a supply of securities with pass-through rates ranging from 1.5% up to 5%. Each incremental bump in rate will, of course, have an increase in price. Another variable you’ll notice is that the lower-coupon, deep-discount bonds were originated five or six years ago, so they have a correspondingly short WAM and average life. Spread the Wealth Another piece of good news is that even the higher coupons carry only modest premiums, especially compared with 2021. If investors are unsure of their favorite flavor, they can buy several different structures, thereby guaranteeing they will be pleased with at least some of the new purchases. (A pessimist might say they’ll be guaranteed to be displeased with some, but I’m going with the affirmative.) What is also clear is that an MBS with a below-market coupon will look very different from a “current coupon” in terms of prepayments, average lives, price volatility and, yes, yield. Currently, a 15-year 2% security is priced around eight points below par, and the lifetime prepayment speed on the entire cohort is well under 8% annually, which is very slow. (It may be helpful to know that the average homeowners’ mortgage rate was 4.4% in June 2026.) One can expect these low coupons to continue to prepay very slowly, resulting in minimal near-term monthly cash flow. Offsetting these slow speeds, the scheduled principal is beginning to throw off some cash flow, and stated final maturities are 10 years or less. If buyers are so inclined, they could layer in some 15-year MBS with, say, 5.0% coupons, which are currently priced close to par. Because the borrowers’ rates will probably be “in the money” to refinance at some point, these pools can have shrinking average lives if rates fall and more cash flow than discount pools. However, most relevant is that the portfolio will now be insulated against both rising and falling rates, and the average risk/reward metrics across the multiple pools would probably beat those of any single security currently available. Today’s lesson is that the debris of the past has created a simple-to-apply strategy: buying a wide range of coupons and, in effect, hedging your interest-rate bets. Doing so can turn the collateral damage of 2022 into your collateral advantage of 2026. Jim Reber is managing director-ICBA relations for The Baker Group, ICBA Securities’ exclusively endorsed broker-dealer. The Show-Me Banker Magazine | 25
BOS Opens Full-Service Banking Center in Kansas City, Missouri Bank of Springfield (BOS) announced the opening of their first branch in Kansas City. This expansion reflects the success of the bank’s Liberty loan production office that opened in 2022. The new location at 8622 NE 85th St. in Kansas City, Missouri, operates as a full-service banking center offering retail and business banking services. With this addition, the bank now has 17 branches. “This is an exciting time for BOS, especially for our Kansas City team”, said Jason Knoedler, CEO. “In 2022, we saw an opportunity to support our growing Kansas City customer base and opened the loan production office. Four years later, we are celebrating the opening of our first branch in this community. It’s a true testament to the support of our customers and the dedication of our team.” Austin Fee, vice president of commercial lending, led efforts when the bank first expanded into the Kansas City market and is ready for this new opportunity. “Quick responsiveness and decision-making are the keys to our growth and positive impact on the Kansas City community,” said Austin. “There is immense opportunity for banks in this market, and we are proud to have grown from a small loan production office into a well-rounded team, along with a new full-service branch. We continue to focus on timeliness and connecting with our customers, many of whom appreciate that when they call BOS, a person picks up the phone.” BOS Welcomes Wyatt Wahman BOS recently announced that Wyatt Wahman is the branch manager at the new Kansas City banking center. With more than six years in banking as a teller, personal banker and assistant branch manager, Wyatt brings knowledge and experience to lead the bank’s retail efforts. In his role, Wyatt is responsible for retail operations, including deposit relationships, transactions and account openings. Wyatt received his associate degree in business at Liberty University. His office is located at the Kansas City BOS Banking Center at 8622 NE 85th St., Kansas City, Missouri. BOS Asset Management LLC Opens Kansas City Office BOS Asset Management LLC announced the opening of a new Kansas City office. This office serves clients in the Kansas City and surrounding area. The new location will be led by David Heitbrink, CFP, who brings more than 30 years of experience offering wealth management and financial planning services to individuals, families and businesses. BOS Asset Management LLC is located within the new BOS full-service branch at 8622 NE 85th St., Kansas City, Missouri. BOS Asset Management LLC, an SEC-registered Investment Adviser, was founded in 2020 and is headquartered in Springfield, Illinois. The firm serves clients across Illinois, Missouri and Florida. As of March 31, 2026, BOS Asset Management LLC had assets under management totaling $933 million. Branson Bank Partners with FHLB Des Moines to Award Member Impact Fund Grants This past August, Branson Bank, with support from Federal Home Loan Bank (FHLB) Des Moines, presented contributions totaling $50,000 to four area nonprofits. Through their membership of FHLB Des Moines, Branson Bank was made aware of an opportunity to apply for Member Impact Fund Grants in May, and the community bank submitted proposals, hoping to increase monetary support for several area nonprofit organizations that align with the bank’s values and heavily impact the Taney and Stone county communities. If approved, grant recipients could receive up to $3 for every $1 that Branson Bank contributed. All four applications submitted by Branson Bank were approved for the maximum match. “The Member Impact Fund is designed to help our members champion the organizations that make a real difference in their communities,” said Kris Williams, president and chief executive officer of FHLB Des Moines. “By partnering with our members, News From You 26 | The Show-Me Banker Magazine
we’re able to multiply resources and support their vital work as they continue to strengthen opportunities for the people they serve.” With the support of FHLB Des Moines, Branson Bank held four check presentations in support of: • Boys & Girls Club of the Ozarks (BGCO): A $10,000 contribution was presented to support their mission in providing a safe, structured environment, after school and in the summer, where youth receive academic support, mentorship, leadership and healthy meals throughout Taney and Stone counties. BGCO is dedicated to fostering a sense of belonging, positive self-esteem and accomplishment in all kids. Learn more at bgcozarks.org. • Veterans of the Ozarks (VOTO): A $10,000 contribution was presented to further support programs that facilitate camaraderie, advocacy, education and outreach. VOTO offers membership to any active, inactive or retired veterans and their spouses who served the United States of America honorably. Learn more at veteransoftheozarks.com. • Christian Action Ministries (CAM): A $10,000 contribution will help stretch every dollar, combating food insecurity while providing resources that encourage self-sufficiency and independence. CAM has three food pantries and organizes mobile food distribution throughout Taney and Stone counties. Learn more at christianactionministries.org. • Table Rock Career Center (TRCC): A $20,000 contribution will offset expenses for personal protective equipment designed to educate and train students to become workforce ready. TRCC equips students with valuable technical skills, certifications and hands-on training, preparing students across 14 school districts for future careers. Learn more at rs-wolves.com/o/trcc. Together, these organizations strengthen families, improve quality of life, address local needs and create opportunities, representing the many ways our communities come together to make a difference. “This is what community banking is all about — showing up for the people and organizations that make our community stronger,” said Eric Simkins, president of Branson Bank. “We know that behind every program, there are real people whose lives can be changed for the better and with the help of FHLB Des Moines, we are honored to stand alongside these four organizations as they continue to do meaningful work for our neighbors throughout Taney and Stone counties.” The Show-Me Banker Magazine | 27
Brad Roling Returns from GSBC Ready To Bring New Perspectives to Mid America Bank Mid America Bank is proud to announce that Brad Roling, VP market president-Columbia, has graduated from the Graduate School of Banking at Colorado (GSBC) with honors, bringing to Mid America Bank new leadership skills and industry perspectives. Brad was among 134 banking professionals who graduated during GSBC’s 75th Annual School Session, hosted on the University of Colorado Boulder campus. Graduation marks the culmination of an immersive banking education focused on leadership, strategy, lending, financial management and the forces shaping the future of community banking. Throughout the program, students apply what they learn to their organizations, strengthening their ability to make informed decisions, lead teams and navigate an evolving banking environment. 28 | The Show-Me Banker Magazine
“Graduating from GSBC is a significant accomplishment, but its greatest value is what comes next,” said GSBC President and CEO Michael Stevens. “Our graduates return home better equipped to lead, serve their customers and strengthen their communities.” Beyond the classroom, students build relationships with banking professionals representing institutions of different sizes, markets and business models. Those connections form a nationwide peer network that continues to provide perspective, collaboration and support long after graduation. As Brad returns to Mid America Bank, graduation marks not only the completion of a rigorous graduate banking education, but also the beginning of an opportunity to put that experience to work for his institution, customers and community. Brad was one of only 18 students in his class to graduate with honors. This outstanding achievement is a testament to his hard work and dedication and is worthy of celebration. “Graduating from the Graduate School of Banking with honors is a remarkable achievement that reflects Brad’s dedication to continuous learning and professional growth. We are incredibly proud of him and confident that the knowledge and leadership skills he continues to develop will enable him to make an even greater impact for our clients, our communities and our organization,” said Steve Linton, CEO of Mid America Bank. Enrollment for GSBC’s 76th Annual School Session opens this fall. Banking professionals interested in beginning their own GSBC journey can join the Priority Enrollment List at gsbcolorado.org. The Show-Me Banker Magazine | 29
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