Tim Overmyer Providing service and signage to IBA banks HB HOOSIER BANKER MAGAZINE indianabankers.org PLUS! 2018 Leaders in Banking Excellence SEPTEMBER / OCTOBER 2018 2018 LEADERS IN BANKING EXCELLENCE Pg. 16
Member: FINRA and SIPC Oklahoma City, OK | Atlanta, GA | Austin, TX | Indianapolis, IN | Long Island, NY | Salt Lake City, UT | Springfield, IL www.GoBaker.com | 800.937.2257 October 11-12, 2018 Oklahoma City, OK The Skirvin Hotel One Park Avenue Oklahoma City, OK 73102 405.272.3040 Successful strategies require INSIGHT. The Baker Group has long been known for its proven software and products, but it takes insight to make sound, strategic decisions. For financial institutions, insight can be defined as the ability to see what others may not see. Successful financial institution managers know the importance of achieving a high-performance plan. Establishing such a plan requires not only sound data and accurate information, but also an insightful partner; The Baker Group is that partner. The Baker Group’s Interest Rate Risk and Investment Strategies Seminar was developed specifically for managers of financial institutions. Designed to meet the challenges of 2018, it is an indepth examination of current topics including: • Market Conditions and the Banking Environment • Interest Rates, Liquidity, and Balance Sheet Strategies: Everything’s a Cycle • Modeling Interest Rate Risk: Best Practices and Regulatory Compliance • Investment Strategy and Security Selection for Each Rate Environment • Municipal Bonds and the Pension Crisis: How to Develop a Process to Protect Your Portfolio • Techniques for Managing MBS to Minimize Prepay Volatility • Liquidity, Cash Flow, and the Bond Portfolio For your convenience, register online at GoBaker.com/oklahoma. Call Skoshi Heron at 888.990.0010 for more information. Agenda Thursday Golf Dinner Friday Breakfast Seminar Lunch Seminar Conclusion Hotel You are responsible for your own hotel reservations. Identify yourself as a Baker Group attendee when calling 800.445.8667 to make hotel reservations. Hotel price: Deluxe $159 + tax. Guest Speaker Dr. Lacy H. Hunt — Executive Vice President of Hoisington Investment Management Company Who Should Attend Financial institutions’ CEOs, CFOs, investment officers, board members, and those who are directly or indirectly responsible for financial management functions will benefit from this seminar. There is no cost for this seminar. CPE credits will be earned for your attendance.
4 SEPTEMBER / OCTOBER 2018 DIRECTORS & STAFF MISSION To advocate for and sustain an environment in which banks can succeed. VISION To provide exemplary service to members as the premier state bank trade association in the country. VALUES In fulfilling our mission, we will: n Maintain the highest ethics, integrity and respect for others; n Serve with professionalism, innovation and resourcefulness; n Instill passion, positive attitude and enthusiasm; n Remain mindful that the success of the IBA is judged by the success of its members. Publication Disclaimer Hoosier Banker (ISSN 0018 473X) is published bimonthly by the IBA Service Corp., a subsidiary of IBA Holding Company Inc., that is a wholly owned subsidiary of the Indiana Bankers Association. All material published in Hoosier Banker or on the IBA website is the property of the Indiana Bankers Association. Contact Us • Email IBA staff using first name initial, plus last name, plus “@indianabankers.org” – example: jdoe@indianabankers.org • Email Hoosier Banker materials to: HB@indianabankers.org IBA BOARD OF DIRECTORS IBA Officers Chairman.........................................................................Clay W. Ewing, German American Bank, Jasper First Vice Chairman ............................................................................Andrew J. Briggs, Bank of Geneva Second Vice Chairman.......................................... Lucas White, The Fountain Trust Company, Covington Immediate Past Chair .............................Annette M. Russell, Security Federal Savings Bank, Logansport President and CEO...........................................................Amber R. Van Til, Indiana Bankers Association Constituent Directors ICBA State Director .............................................Michael H. Head, First Federal Savings Bank, Evansville ABA Membership Council .............................................. Michael K. Bauer, WesBanco Bank, New Albany Future Leadership Division President ...............................................................Kirby Drey, Kentland Bank Non-Indiana Headquartered Bank Director ...........................Tim Massey, BMO Harris Bank, Indianapolis Northeast Region Directors Jeffrey W. Gump .............................................................................Farmers and Merchants Bank, Laotto Michael C. Rechin .....................................................................................First Merchants Bank, Muncie Michael S. Zahn ..........................................................................First Federal Savings Bank, Huntington Northwest Region Directors Benjamin J. Bochnowski .....................................................................................Peoples Bank, Munster Joseph D. Carlson ..........................................................................Community State Bank, Royal Center Arden L. Cramer ..............................................................................................Logansport Savings Bank Southeast Region Directors George W. Ferriell ...........................................................................................................Bath State Bank Gregory Inman .......................................................................Scottsburg Building and Loan Association Karen B. Woods ....................................................................................... First Financial Bank, Cincinnati Southwest Region Directors Matthew W. Howrey ............................................................................................North Salem State Bank Kent L. Parisien ................................................................................................First Savings Bank, Odon Jamie R. Shinabarger ........................................................Springs Valley Bank & Trust Company, Jasper FUTURE LEADERSHIP DIVISION ADVISORY BOARD Kirby Drey, President .........................................................................................................Kentland Bank Melodie K. Yarnell, Vice President ..........................................................Jackson County Bank, Seymour Emily Boardman .............................................................................................Crossroads Bank, Wabash Scott Carr ..................................................................................................First Savings Bank, Clarksville Jessica Carroll ................................................................ The New Washington State Bank, Charlestown Michael J. Clampitt ............................................................................................North Salem State Bank Jason L. Ernst ................................................................................ First Financial Bank, NA, Terre Haute Brock C. Goggins ...................................................................................German American Bank, Jasper Ryan Hart ...........................................................................................................Lake City Bank, Warsaw J. Daniel Maddox ...................................................................................Citizens State Bank, New Castle Kristin Marcuccilli ...............................................................................................STAR Bank, Fort Wayne Jon-Myckle D. Price ..............................................................Security Federal Savings Bank, Logansport Jeremy Siegle ................................................................................................................Bank of Wolcott Crystal Taylor-Baker ...................................................................................Old National Bank, Evansville Billy Winter ...............................................................................................Bippus State Bank, Huntington IBA STAFF President and CEO........................................................................................................ Amber R. Van Til Executive Vice President.......................................................................................Paul W. Freeman, CAE Senior Vice President - Government Relations ........................................................................Dax Denton Vice President - Government Relations...........................................................................Eric J. Augustus Vice President - Meetings & Events ................................................................Christina M. Bennett, CMP Vice President - Products & Services...................................................................................... Rod Lasley Vice President - Education & Training ................................................................................Laurie A. Rees Vice President - Communications ....................................................................................... Laura Wilson Assistant Vice President - Member Engagement ................................................................... Josh Myers Member Engagement Specialist..........................................................................................Emily Brooks Government Relations Coordinator.................................................................................... Michelle Long Events & Products/Services Assistant...................................................................................Susan Clark Education Meeting Coordinator..........................................................................................Marcy Borden Education Meeting Coordinator......................................................................................... Elizabeth Kilty Staff Accountant ..................................................................................................................Timothy Fry Technology Manager ............................................................................................................ Tracy Kubly
Hoosier Banker 5 CONTENTS Vol. 102 No. 5 8425 Woodfield Crossing Blvd., Suite 155E Indianapolis IN 46240-7321 317-387-9380 @indianabankers Publisher: Amber R. Van Til Editor: Laura Wilson Advertising: Rod Lasley Submit materials to: HB@indianabankers.org Copy deadline: First of the month preceding publication. Advertising: Rates available at indianabankers.org. Advertisers should reserve space by the first day of the month preceding publication, and submit artwork by the fifth of the month preceding. Hoosier Banker advertising is available to members and associate members of the Indiana Bankers Association only. Subscriptions: Hoosier Banker subscriptions are provided free of charge to members and associate members of the Indiana Bankers Association. Public access to HB Digital is available at indianabankers.org. About Hoosier Banker: Award-winning Hoosier Banker magazine is the flagship publication of the Indiana Bankers Association. Its subscriber base includes all banks and thrifts headquartered in Indiana, IBA-member banks headquartered out-of-state, and IBA associate members. HOOSIER BANKER MAGAZINE indianabankers.org Front cover embedded group photo: Honorees of the inaugural class of IBA Leaders in Banking Excellence awards gather at a reception in their honor. Shown are (front row, from left) Mark A. Schroeder, German American Bank, Jasper; James L. Saner Sr., North Salem State Bank; John H. Colvin, North Salem State Bank; (back row, from left): Patrick J. Glotzbach, The New Washington State Bank, Charlestown; Sharon Cox, representing the late Michael L. Cox, First Merchants Bank, Muncie; S. Joe DeHaven, Indiana Bankers Association, Indianapolis; Dan L. Moore, Home Bank, Martinsville; Wendy Boyd, representing the late Alonzo Hernly Boyd Jr., Wayne Bank and Trust Company, Cambridge City; and David A. Bochnowski, Peoples Bank, Munster. COVER STORY 10 Tim Overmyer: Providing Service and Signage to IBA Banks ARTICLE SPOTLIGHT 16 Leaders in Banking Excellence FEATURES 6 Vantage Viewpoint Amber R. Van Til, IBA 7 Chairman’s Report Clay W. Ewing, German American Bank 8 Staff Selection Eric J. Augustus, IBA 9 IBA Calendar of Events 23 State Deposits in Indiana Financial Institutions 38 S. 2155 Robert S. Nichols. ABA 39 Flourish Rebeca Romero Rainey, ICBA INDIANA BANK & THRIFT STOCK UPDATE 22 Stock Analysis Michael A. Renninger, Renninger & Associates LLC DIRECTORS / SENIOR MANAGEMENT 24 A Tactical Shift Drew Simmons, The Baker Group 40 Increasing Fee Income Sean C. Payant, Haberfeld Associates GR SUMMIT 26 Bank Customers and CBD Oil Dax Denton, IBA PSP SHOWCASE 28 E-Commerce Helps Banks Eric B. Bass, Approval Payment Solutions Inc. FLD FOCUS 30 Calling All Future Leaders Josh Myers, IBA COMPLIANCE CONNECTION 32 Certificates of Deposit Brett J. Ashton, Krieg DeVault LLP PRODUCTS & SERVICES PROFILE 34 Managing Interest Rate Risk Rod Lasley, IBA HUMAN RESOURCES 36 Compensation Reminders Debra A. Mastrian, SmithAmundsen LLC OPERATIONS / TECHNOLOGY 42 General Data Protection Regulation Keith Monson, CSI DEPARTMENTS 29 Taking It Easy 33 Anniversary Milestones 35 IBA Employees of the Month 44 Associate Members’ Corner 46 Banking Center News 47 From the Board Room 48 Banking on Community 50 Honorable Mentions 52 Bankers on the Move 58 Advertisers Index
6 SEPTEMBER / OCTOBER 2018 Fall is approaching, and as of this writing we are on the cusp of the Indiana Bankers Association Annual Convention. This year’s meeting of top leadership, scheduled for Sept. 9-11 in scenic French Lick, promises to be another memorable gathering. One tradition at the annual business luncheon is for our sitting chairman to give a status report on the Association. I look forward to the good news Chairman Ewing will be sharing. By all measures, we are doing well, and by all accounts, it is because of our members. The IBA enjoys a committed, dedicated membership of bankers, who inherently are able leaders of both their financial institutions and the communities they serve. I feel fortunate to be working with and for bankers. Our associate members also play a major role in IBA’s success, as their support enables us to provide attractively priced offerings to members. It is our pleasure in this edition of Hoosier Banker to feature Tim Overmyer of Vanadco Signs Inc., a long-time associate member. Another upcoming event, on the heels of the Annual Convention, is the IBA Annual Washington Trip. Set for Sept. 30 through Oct. 2, this trip gives us the opportunity to meet with lawmakers on Capitol Hill and speak in a unified voice in sharing industry concerns. We strongly encourage you to join us. Additional events forthcoming are shown in the “Don’t Miss Out” box on this page. There’s something for everyone at the IBA, from emerging bank leaders, to women in banking, to senior management and more. While looking forward, I’d like to pause and briefly look back at a recent event hosted here at the IBA offices. On Aug. 3, the IBA introduced its inaugural class of Leaders in Banking Excellence. We honored nine banking visionaries, representing nearly 400 years of service to banking, at a meaningful awards ceremony. You can read details about the 2018 class of honorees in this issue, starting on page 16. Additionally, I invite you to come visit the wall of excellence at the IBA offices, where plaques showcasing each Leader in Banking Excellence give lasting tribute to their service. I’d also like to thank the dignitaries who gave of their time to come and speak at the awards ceremony. Congressman Trey Hollingsworth, Sen. Travis Holdman, Director Tom Fite of the Indiana Department of Financial Institutions, and Sen. Rodric Bray joined Chairman Ewing in honoring the legacy leaders of the Indiana banking community. Finally, let me close with a few shoutouts to the IBA team. Dax Denton, SVP-government relations, has completed the three-year Graduate School of Banking at the University of Wisconsin. It is a major accomplishment to be graduated from this rigorous program. Chris Bennett, VP-meetings & events, co-chaired the annual convention of the Indiana Society of Association Executives. Held Amber R. Van Til President and CEO Indiana Bankers Association avantil@indianabankers.org @grbanker VANTAGE VIEWPOINT in July, this gathering gives trade association representatives an opportunity to explore commonalities in service, structure and offerings. Josh Myers, AVP-member engagement, is on track to complete the 2018 IBA Leadership Development Program in October. This program, consisting of four intense sessions scheduled over an eightmonth period, is life-changing in lessons learned and friendships forged. Finally, in the last edition of this column, I introduced two new IBA staff members: Eric Augustus, VP-government relations, and Emily Brooks, member engagement specialist. You can get to know Eric in the Staff Selection column on page 8, and you’ll be reading more about Emily in the next edition. Thank you again for all you do to help the IBA succeed in its mission: “To advocate for and sustain an environment in which banks can succeed.” HB To view a brochure detailing the IBA Strategic Plan, click on the hand icon above left in HB Digital, or go to: indianabankers.org/about IBA Strategic Plan FLD Leadership Conference Oct. 15-16 Emerging bank leaders come together for networking, leadership-building and inspiration. Banking on Women Conference Nov. 13-14 Women in banking gather to unlock potential, build confidence and own the future. Economic Outlook Forum Dec. 7 James Bullard, president and CEO of the Federal Reserve Bank of St. Louis, shares economic insights. Don’t Miss Out! Save the Dates for These IBA Events
Hoosier Banker 7 Some healthy sparring has been going on between the credit union industry and the banking community. Though these different types of financial service organizations often agree on issues, there is one place we definitely are not seeing eye to eye: the federal tax-exempt status of credit unions. Lately you may have noticed a flurry of verbal activity in the way of op-eds peppering Indiana news outlets and even garnering national attention. Below are recent op-eds on the topic of credit union taxation, authored by Amber Van Til, president and CEO of the Indiana Bankers Association: • “Consumers Pay For Credit Union Federal Tax Entitlement,” was published Aug. 7 in Inside INdiana Business and Aug. 8 in the ABA Banking Journal. • “Credit Unions Should Pay Their Fair Share,” appeared June 11 in the Indianapolis Business Journal. • “The Time Has Come for Credit Unions to Pay Federal Corporate Taxes,” ran in four news sources in May: The Indianapolis Star; The Journal Gazette, Fort Wayne; the Terre Haute Tribune-Star; and The Times of Northwest Indiana. The Indiana Credit Union League has been writing opinion pieces, as well, sometimes in response to IBA material, sometimes vice versa. Verbal jousting aside, one truth remains: Reality is on our side. Following are examples of some weak credit union arguments. Credit union fiction: Although the banking industry is performing well, it selfishly is attacking credit unions in order to do even better. Industry fact: The banking industry is indeed doing well, thanks to sound management and hard work, but the status of taxpaying, depository banks has no bearing on this issue. What is of concern, to all taxpayers, is that credit unions are not paying their fair share in federal taxes. For this reason, multiple voices are joining in with bankers in pointing out the injustice of the outdated federal credit union tax exemption. Several nonbank entities seek reform, including consumer groups, legislators and even other credit union representatives, because we all pay the price when others do not pay their due. Credit union fiction: Banks keep their rates low in order to compete with the low rates that credit unions offer. Industry fact: While it is true that credit unions are able to offer low rates, due to the artifice of their federal tax-exempt entitlement, they are not the only competition banks face. Banks also compete against each other, and we welcome free market competition. We only ask for a level playing field. Credit union fiction: Credit unions are entitled to federal tax exemption, because they are member-owned. Industry fact: Mutual savings banks, which are owned by their depositors, pay federal taxes, as do mutual insurance companies, owned by their policyholders. These coNOTABLE QUOTES Banking Community Service on Twitter First Savings Bank, Clarksville · @fsbindiana · Aug. 8 “Proudly supporting our communities! First Savings Bank’s staff served breakfast to the Crawford County School Corporation this morning. We hope you have an amazing school year!” Centier Bank, Merrillville · @CentierBank · Aug. 2 “As a Founding Family and Founding Business for @CityofWhitingIN, the Schrage Family and Centier are proud to be the first Founding Partner for the @MascotHall of Fame, a $250,000 commitment! #nwindiana” Merchants Bank of IN Indiana, Carmel · @MerchantsBankIN · July 30 “Thank you to our MPACT Volunteers. Sixteen employees participated in a project with @IndyHabitat and King Park Community Development Corporation to rehab a home in the Kennedy-King Neighborhood in Indianapolis. Project video at https://youtu.be/ Gar9EUI5toM” Security Federal Savings Bank · @sfsbank · July 24 “Thank you for showing your support for #CommunityCares and helping us raise $25,000 to support local students. Learn more at https://goo.gl/GQNtRo #SecFedGivesBack” German American Bank, Jasper · @_GermanAmerican · July 19 “Our team serving Dubois County is proud to give back to the local community by volunteering with the Dubois County Community Meal program. With a mission to reach out to those in need + provide a good meal, our team enjoys volunteering through the year with this great organization.” Follow IBA Twitter: @indianabankers Twitter Clay W. Ewing Chairman Indiana Bankers Association President, Chief Banking Officer and Secretary to the Board of Directors German American Bank, Jasper CHAIRMAN’S REPORT operatives pay federal taxes, so member-owned credit unions likewise should be accountable. Credit union fiction: Credit unions fulfill their mission of serving “persons of small means,” united by common bonds. Industry fact: Credit unions have strayed far beyond their mission, stretching common bonds to absurd degrees. Case in point: The Golden1 Credit Union (Golden1.com), based in Sacramento, California, boasts its meaningless common bond on its website: “All Californians can join! If you live or work in California, you are eligible.” All Californians? Nearly 40 million people live in California, with an untold number of nonresidents working there. What about Hollywood movie stars? Are they persons of small means? Additionally, non-Californians qualify for Golden1 Credit Union by joining a “Financial Fitness Club” for a grand total of $8. Arguments keep flying back and forth regarding the federal tax-exempt status of credit unions, but in the end it comes down to a simple truth: Credit unions have veered from their mission. The federal tax exemption is an unjustified entitlement that has got to end. HB
8 SEPTEMBER / OCTOBER 2018 June 25 was my first day on the job as your new vice president-government relations. I am grateful for this opportunity to serve you, and I appre- ciate that I had the chance to meet many of you at the Indiana Bankers Association regional meetings. Having worked in government relations the last eight years, I knew that the IBA had an outstanding reputation. Meeting IBA members showed me why. I learned that IBA members are committed and engaged, particularly in grassroots advocacy. It’s a pleasure to work with professionals who understand so well the importance of legislation and its impact on day-to-day business. Soon I hope to meet more of you. As of this writing, I’m looking forward to attending the IBA Annual Convention and the IBA Annual Washington Trip. I’ve heard about the continued success of both of these events, and I’m eager to experience them firsthand, especially advocacy on Capitol Hill. Advocacy has always been part of my professional life. Most recently I served the Indiana Utility Shareholders Association as executive director. I joined that organization in 2014 to broaden my career trajectory into the administrative side of association work, while at the same time engaging in lobbying. Working as executive director gave me a chance to develop skills in areas that were new for me, such as budgeting, board governance, tax filings, payroll – all of the administrative areas that keep an association afloat. I appreciated the chance to gain management experience, while continuing legislative work. Prior to that position, my focus was purely on advocacy. I served for nearly four years with the Indiana Association of Realtors, first as grassroots manager, then as government affairs director. My work with the Realtors resembled much of what I’m doing now in service to you at the IBA. Both the Indiana Association of Realtors and the Indiana Bankers Association are advocacy-driven organizations, with attention paid to related areas, including political action committees, relationships with policymakers and engaging members in grassroots advocacy. The grassroots portion may be the most meaningful, because legislators sincerely appreciate hearing from their constituents. Another similarity is that professionals in both real estate and banking are entrenched in their communities. Real estate agents sell homes by selling the community – schools, shopping, transportation, etc. – and for that reason understand the importance of providing community support. It’s the same with bankers. Business developments take root and flourish in communities that thrive. Bankers support the economic development process by supporting the communities they serve. Because of the nexus between real estate and banking, I had the chance to get to know Amber Van Til and Dax Denton while I was representing Realtors at the Statehouse. Seeing Amber and Dax at work – and noticing how respected they were by legislators and lobbyists alike – made it easy for me to want to come work at the IBA. My first real job straight out of college was as a legislative assistant for the House of Representatives. In this role, I was assigned three state representatives to assist. My responsibilities included answering inquiries from constituents, tracking legislation, and staffing the House Insurance committee. Serving as a legislative assistant often is a springboard into the lobbying profession. Advocacy was clearly the right choice for me, because I’ve stayed with it ever since. I’m active with the Government Affairs Society of Indiana, currently serving as vice president, scheduled to take on the role of president in 2019. Most people who choose advocacy as a profession enjoy competition, and that trait fits me. Not surprisingly, I also enjoy competing in sports – all sorts of sports – but I especially gravitate toward individual sports. I enjoy the challenge of striving to beat your personal best. One of my favorite sports is golf. I played on my high school golf team in Lima, Ohio, and later at the college level. I also enjoy cycling and have dabbled a bit in racing. The best part of my personal life is sharing it with my girlfriend, Maddie, and our two rescue dogs, Chloe and Aggie. The dogs are not related, but they both seem to be a Labrador/shepherd/retriever mix. Maddie spent a lot of time working with Chloe, who had a rough time early in life and, thanks to Maddie’s kindness and patience, has come a long way. Today, both dogs are healthy and well-adjusted. Finally, I’m very happy to be part of the IBA team. This Association is a great fit for me – it’s a busy place, with a focus on setting goals, mapping out action plans, and making things happen. Thank you for welcoming me here. I am eager to serve you to the best of my ability. HB Eric J. Augustus Vice President-Government Relations Indiana Bankers Association eaugustus @indianabankers.org STAFF SELECTION IBA Branch Management Program Four bankers completed the IBA Branch Management Program in August. Shown from left are: Meg Waddell, Lake City Bank, Warsaw; Amber Carroll, First Farmers Bank & Trust Company, Converse; Taylor Weigle, Farmers & Merchants Bank, Boswell; and Kim Phillips, German American Bank, Jasper.
Hoosier Banker 9 View full calendar and register online at indianabankers.org/education-events, or click on the icons above in HB Digital. IBA Center for Professional Development | 8425 Woodfield Crossing Blvd., Suite 155E | Indianapolis, IN 46240 | 317-387-9380 & EVENTS CONFERENCES CLASSROOM INSTRUCTION ONLINE LEARNING Convene and connect at signature IBA events. Build knowledge via webinars or on-demand. Learn with peers in a classroom setting. Calendar of Events CALENDAR UPDATE Employment Law for Bankers Sept. 18 • IBA Center Mortgage Lending School Sept. 18-20 • IBA Center Certified Banking Cybersecurity Manager Certification Class Sept. 19-20 • IBA Center Flood Insurance Essentials Sept. 23 • IBA Center Insight 2018: High-Performance Balance Sheet Strategies Sept. 26 • IBA Center Talent Assessment and Succession Sept. 26 • IBA Center Security Management Seminar Sept. 28 • IBA Center Annual Washington Trip Sept. 30-Oct. 2 • Washington, D.C. Advanced Branch Management Oct. 2 • IBA Center BSA/AML Compliance Seminar Oct. 3 • IBA Center Senior Retail Banking Forum Oct. 4 • IBA Center Cybersecurity Conference Oct. 4-5 • IBA Center Chief Financial Officer Forum Oct. 9 • IBA Center • Group 1 Oct. 12 • IBA Center • Group 2 Senior Leader Forum Oct. 10 • IBA Center • Group 1 Oct. 11 • IBA Center • Group 2 FLD Leadership Conference Oct. 15-16 • The Alexander • Indianapolis Community Bankers for Compliance School Oct. 15-19 • IBA Center Essentials of Banking: Session 4 - Lending, Bank Investments and Bank Performance Oct. 17 • IBA Center PICk the Fraud: Skills to Detect Fraud at the Frontline Oct. 17 • The Sherman House • Batesville Oct. 18 • The Landmark Conference Centre • Fort Wayne Oct. 22 • Huntingburg Event Center Oct. 23 • Holiday Inn Express • Bloomington Oct. 24 • DoubleTree by Hilton Lafayette East Oct. 25 • IBA Center Marketing Directors Forum Oct. 23 • IBA Center IRA School - Navigating the Treacherous Trails of IRAs Oct. 23-24 • IBA Center IT & Operations Officer Forum Oct. 24 • IBA Center • Group 1 Oct. 25 • IBA Center • Group 2 FDIC Directors College/Banker Outreach Program Oct. 30 • Renaissance Indianapolis North Hotel • Carmel ACH Processing and Compliance Oct. 31 • IBA Center Community Bankers for Compliance Series - Session 4 Nov. 5 • The Landmark Centre • Fort Wayne Nov. 6 • IBA Center Nov. 7 • IBA Center Business Development – The Basics and Beyond Nov. 8 • IBA Center Human Resource Directors Forum Nov. 8 • IBA Center Banking on Women Conference Nov. 13-14 • Indianapolis Marriott North Hotel Fundamentals of Commercial Lending Nov. 15-16 • IBA Center Midwest Agricultural Banking School Nov. 26-29 • Purdue University • West Lafayette Branch Management Series: Raising the Bar for Sustainable Growth Nov. 27 • IBA Center BSA Officer Forum Nov. 28 • IBA Center Ag Clinic Nov. 29 • Purdue University • West Lafayette Economic Outlook Forum Dec. 7 • Renaissance Indianapolis North Hotel • Carmel Internal Audit School Dec. 11-12 • IBA Center
10 SEPTEMBER / OCTOBER 2018 COVER STORY Tim Overmyer Providing service and signage to IBA banks Tim Overmyer, president of Vanadco Signs Inc., Argos, joined the company in 1980, hired by its founder. The late Bruce VanDerWeele had set up the company 25 years earlier, drawing its name from “VanDerWeele Advertising Company.” After some training, Overmyer served in sales, and in that capacity noticed that a recurring challenge was chasing delinquent accounts. He also noticed that one type of client could be counted on to consistently pay on time: banks. Overmyer began focusing his efforts on banking customers, and soon forged a bond between Vanadco Signs Inc. and the Indiana banking community. The timing was fortuitous, as interstate banking, introduced to Indiana in the ’80s, resulted in a marked increase in signage changes. The savings and loan crisis in the 1990s would continue the need for new signage for financial institutions. In addition to banks, Vanadco Signs continues to work with multiple business types. Services provided by the company include design, fabrication, installation and maintenance. Hoosier Banker spoke with Tim Overmyer about his career path with Vanadco Signs Inc., an associate member of the Indiana Bankers Association. What are your responsibilities with Vanadco Signs, and what does the company do? “My main responsibility is sales. As president, I get involved in everything, but mostly I focus on sales. It can be a struggle in the winter, so I plan ahead to have work lined up. “We do everything from small advertising posters to large-format printing for billboards to digital print. We also can provide electronic message centers, the ones that are programmed to flash different messages, since we are a dealer for a large company called Daktronics, which specializes in message centers. “Daktronics builds the electronic messaging part of message centers, which is highly technical. Vanadco
Hoosier Banker 11 custom builds all the supporting framework, fabricated out of aluminum or sheet steel. “The typical work we provide for a bank is to do the directional signage for entrances and exits, the main identification signs, and the letters on the outside of the building. Inside, we can create letters to display on the wall behind the teller line. “One of the biggest industry changes, since the ’80s, is the use of computerized vinyl cutters and CNC routers. The router will cut anything – logos, lettering – where before we would have to hand cut around the letters. “Recently, LEDs have been the other big change. Before, we used fluorescents in the signs, but now everything is LED. It’s so much easier, and uses less power and maintenance. “Those are the two biggest changes to signage I’ve seen in my career.” How did your career develop? “I went to Purdue University and graduated in the ’70s in environmental science and water management, a brand new curriculum. I never used it. “I had a job opportunity with the government, but it didn’t pay much. So instead, in the summers I worked for a bathtub company, traveling and fixing fiberglass PHOTO CAPTION: Tim Overmyer serves as president of Vanadco Signs Inc.
12 SEPTEMBER / OCTOBER 2018 tubs. It was a great summer job. “I started with that company, and eventually moved to Michigan. I worked there in the RV business for a couple of years. “At the time, I was dating the niece of Continued on page 14. Tim Overmyer and his daughter Lauren meet with bankers at the IBA Mega Conference. Bruce VanDerWeele, who needed a salesman at Vanadco. He told me how much the work would pay, but I was making more in the RV business, so I turned it down. I was in my 20s then. “Mr. VanDerWeele said, ‘Do you know what’s going to happen to you? When you turn 50, that company is going to say thanks for your service, but we’re done with you. We’ll get somebody younger and cheaper.’ “That was in September. In December the RV company closed for the week between Christmas and New Year’s. Right before closing, they were passing out paychecks and Christmas turkeys. “There were three of us salesmen – two were young, and the other was in his 50s. The plant manager said to the older guy: ‘Here’s your turkey and your final check. We won’t need you next year.’ And that was it. “If there had there been cell phones back then, I would have called VanDerWeele right then. So I waited until I got home, called him and said, ‘I’m in at Vanadco.’ I had seen his prophecy come true. “I’ve had customers the whole time since at Vanadco. I’m more of a talker than a closer, and I think that helps in repeat sales. I’ve had a lot of repeat.” What is the company culture of Vanadco Signs? “We’re a fairly small family business with a staff of 14. When Bruce VanDerWeele retired, his son-in-law, Bruce Stauffer, became president. Then Stauffer retired in 2000, which is when I was named president. “Bruce’s son Jay, the grandson of the original owner, is my partner. Jay’s son is now in the Navy, and may want to come back and get into the business someday. “One of my daughters, Lauren, works here in sales. She handles a lot of schools, hospitals and churches, and is doing a great job. “We’re a tight-knit company. All the people in the back have been here 20-plus years, so I’ve seen their kids grow up and gone to their basketball games. We have very little turnover. “We also have two dogs. One, a labradoodle, belongs to our designer, and the other, a basset, belongs to my partner. They’re our ‘assistants,’ and the UPS guy brings them treats.” What are the factors that affect bank signage? “First, location: Is the sign on a city street, or is it out on a highway, where cars are going fast? The biggest controlling factor, though, is zoning, which dictates how big of a sign is allowed. “I spend 80 percent of my time dealing with zoning, and I also gather the permits. It takes a lot of time, because the ordinances are full of legalese, but it’s important to do it right. We can’t put clients, especially banks, in jeopardy with an illegal sign. “Deadlines are tight. Vanadco can have the signage all ready, but the bank may not be ready until a week before branch opening, if they’re finishing landscaping. “An early step in the installation process is to check with an organization called ‘Underground’ to make sure we know where we can dig safely, so no one gets electrocuted. We also coordinate with an electrician to get electric out to us. “We pour the base, put the steel in, and come back the next day or two to put up the sign. It usually takes two trips. “We like to get things done on time or ahead of schedule. We’ve never opened a bank branch without their signs being ready.” How does it benefit Vanadco Signs to be an IBA associate member? “It’s a sales tool. If a sign company is bidding against me for a job for a small bank, and the bank says, ‘You’re not from around here,’ I say, ‘No, but I am an associate member of the Indiana Bankers Association. I pay my dues every year to help support your conventions and events.’ “Another benefit is attending the conventions. The Mega Conference is especially good for us, because we get to Interior lettering is installed with care by Tim Overmyer.
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14 SEPTEMBER / OCTOBER 2018 A display at Vanadco Signs Inc. showcases employee volunteerism. VIDEO BONUS Tim Overmyer explains how Vanadco Signs Inc. keeps customers happy. To view, click on the video icon in HB Digital. see everybody in two or three days without traveling. The Annual Convention is also great for meeting with a lot of bankers.” Please tell about family and pastimes. “I like to travel, mostly to Florida and out west. I’m one of those guys who says, ‘Why would I go to Europe, when I haven’t seen all of America?’ “But my son, who graduated from Purdue, got a job with Adidas in Germany and has been there almost two years. I visited him where he lives, north of Munich in Bavaria, and it’s beautiful. “I also have two daughters. Lauren works at Vanadco, as I mentioned. She’s living on a farm, with a couple of pot-bellied pigs and a goat, and she also travels a lot. She’s been to Europe to see my son twice. “My youngest daughter graduated last year from Indiana University. She lived in New York City for a while, but it’s too expensive to live out there. She’s just recently moved to Charlotte. “For pastimes, my main activities are marathons and triathlons. I do the short triathlons, called sprints, which are a 500-yard swim, an 11-to-12-mile bike ride, then a 5K run. “Culver has a triathlon in August at the Culver Military Academy, and it’s one of the best around. They put on good food, and the campus and lake are beautiful. Plus, I grew up there and get to run through my old neighborhood. “I’ve run the Boston Marathon four times and met people out there that I still communicate with on Facebook. I’ve run the marathon in Indianapolis I don’t know how many times. “Marathons are fun. You see a lot of the same people and get to know each other.” What do you most enjoy about your line of work? “Getting out and seeing people. Even with the new customers that I don’t know, it’s always fun. “I’ve made a lot of friends through work. I’ve gone on boats with my banker friends. I’ve gone mushroom hunting and swimming with them, or to ball games. “After they retire, we’ll still have lunch five or six times a year. Over time, you just become friends.” HB File Speci cations Release Date: 8-3-18 Revision Date: 8-1-18 Revision Phase: 1AS McGuf n Job #: BHB4914E Publication: Hoosier Banker IO#: 7162084 Insertion Date: 9-10-18 Material Due Date: 8-5-18 Size: Trim: 8.375"w x 10.875"h Live: 7.5"w x 9.5"h Bleed: 8.625"w x 11.125"h Inks: 4CP Creative Director: CS Creative Lead(s): — Account Exec(s): NO Production: SM Notes: Correspondent Banking Pictured in front of a Faneuil Hall landmark, Tim Overmyer has raced in four Boston Marathons.
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16 SEPTEMBER / OCTOBER 2018 LEADERS IN BANKING EXCELLENCE IBA Leaders in Banking Excellence Class of 2018 Dignitaries and honorees gather for the first annual presentation of Indiana Bankers Association Leaders in Banking Excellence awards. Shown are (front row, from left) Patrick J. Glotzbach, The New Washington State Bank, Charlestown; Mark A. Schroeder, German American Bank, Jasper; James L. Saner Sr., North Salem State Bank; John H. Colvin, North Salem State Bank; S. Joe DeHaven, Indiana Bankers Association, Indianapolis; (back row, from left): Director Thomas C. Fite, Indiana Department of Financial Institutions; Congressman Trey Hollingsworth; Sharon Cox, representing the late Michael L. Cox, First Merchants Bank, Muncie; Wendy Boyd, representing the late Alonzo Hernly Boyd Jr., Wayne Bank and Trust Company, Cambridge City; IBA Chairman Clay W. Ewing, German American Bank, Jasper; Sen. Travis Holdman; Dan L. Moore, Home Bank, Martinsville; Sen. Rodric Bray; and David A. Bochnowski, Peoples Bank, Munster.
Hoosier Banker 17 The Indiana Bankers Association honored nine members of the Indiana banking community with its first annual IBA Leaders in Banking Excellence awards at a ceremony on Aug. 3. This newly created award celebrates exceptional Indiana bankers whose leadership has positively impacted banks and the communities they serve. The awards ceremony took place at the IBA offices, with presentations from Congressman Trey Hollingsworth; Director Thomas C. Fite, Indiana Department of Financial Institutions; Sen. Rodric Bray and Sen. Travis Holdman; IBA Chairman Clay W. Ewing, German American Bank, Jasper; and IBA President and CEO Amber R. Van Til. Events culminated with the showing of the IBA wall of honor, where plaques representing each honoree are to remain on permanent display. Additionally, each honoree was given a separate plaque as a keepsake. The year 2018 Leaders in Banking Excellence honorees represent a range of current and retired bankers, past and present. Two are deceased and were represented at the ceremony by family members. All honorees were nominated by IBA-member banks and were approved by the IBA board of directors. The IBA congratulates the 2018 class of Leaders in Banking Excellence: David A. Bochnowski, Peoples Bank, Munster Alonzo Hernly Boyd Jr. (deceased), Wayne Bank and Trust Company, Cambridge City John H. Colvin, North Salem State Bank Michael L. Cox (deceased), First Merchants Bank, Muncie S. Joe DeHaven, Indiana Bankers Association, Indianapolis Patrick J. Glotzbach, The New Washington State Bank, Charlestown Dan L. Moore, Home Bank, Martinsville James L. Saner Sr., North Salem State Bank Mark A. Schroeder, German American Bank, Jasper Following are biographies of each 2018 honoree, as showcased on the IBA wall of honor at the IBA offices. DAVID A. BOCHNOWSKI Peoples Bank Munster ALONZO HERNLY BOYD JR. Wayne Bank and Trust Company Cambridge City David A. Bochnowski, a third-generation banker, joined Peoples Bank in 1977, became CEO in 1981 and was named chairman of the NorthWest Indiana Bancorp holding company in 1995. He retired as CEO in 2016 and currently serves as executive chairman of both companies. Bochnowski has chaired the Indiana League of Savings Institutions, America’s Community Bankers, the American Bankers Association Government Relations Council and the Indiana Department of Financial Institutions. Additional leadership roles include the Federal Home Loan Bank of Indianapolis, Indiana Bankers Association Group Insurance Trust, Federal Reserve, Securities and Exchange Commission, Community Health Care System, Calumet College and Valparaiso University. A Sagamore of the Wabash, Bochnowski holds undergraduate and JD degrees from Georgetown University and a master’s degree from Howard University. He is a U.S. Army veteran and was awarded the Bronze Star for his service in the Vietnam War. Alonzo “Lon” Hernly Boyd Jr., former president and chairman of the board of Wayne Bank and Trust Company, Cambridge City, passed away in 2010. He was a fifth-generation leader of the bank, which he joined in 1956. In 1968, Boyd was named to his leadership position, which he held until his passing. During his tenure, Boyd grew the bank from $10 million in assets to $125 million. Additionally, he was a pioneer and champion of statewide branch banking. Boyd was active with Kiwanis International, the Golay Community Center, Cambridge City Chamber of Commerce, the Indiana Bankers Association and the American Bankers Association. A veteran of the U.S. Air Force during the Korean War, Boyd was a graduate of Culver Military Academy, attended Denison University, and completed studies at Indiana University.
18 SEPTEMBER / OCTOBER 2018 JOHN H. COLVIN North Salem State Bank MICHAEL L. COX First Merchants Bank Muncie John H. Colvin is chairman of North Salem State Bank. He joined the bank in 1984 as president and served in that capacity for 25 years, retiring in 2009. Colvin was named chairman in 2012. He began his career in 1968 with Roachdale Bank & Trust, which later became Tri-County Bank & Trust. Colvin was serving as executive vice president and a director when he was recruited by North Salem State Bank. He served as 1989-90 chairman of the Community Bankers Association of Indiana and as a state director of the Independent Community Bankers of America. Additional activities include service on an agricultural committee with Sen. Richard Lugar, on the Indiana Grain Indemnity Fund, and with the Hendricks County Community Foundation. Colvin is a graduate of the Graduate School of Banking at the University of Wisconsin. Michael L. Cox, former president and CEO of First Merchants Bank, Muncie, began his banking career in 1970, joined First Merchants in 1994 and retired in 2007. He passed away in 2017 at age 72. Cox was respected as a past chairman of the Indiana Bankers Association and as a director of the Community Bank Council of the Federal Reserve Bank of Chicago. He also served on the board of advisers of the American Bankers Association Stonier Graduate School of Banking, of which he was an alumnus. A veteran of the U.S. Army, Cox was active with multiple organizations, including the Mayor’s Task Force on Urban Enterprise Zone, the Muncie-Delaware County Chamber of Commerce, the Muncie YMCA, the Ball State University Alumni Council, Junior Achievement, Minnetrista Cultural Center, Goodwill Industries and the Boy Scouts of America. S. Joe DeHaven led the Indiana Bankers Association through vibrant growth before retiring in 2016 as CEO, a position he held since 2007. He additionally served for several years as IBA president. DeHaven began his career in 1970 with Merchants National Bank of Muncie, and in 1990 he joined the Community Bankers Association of Indiana as president and CEO, later guiding the successful merger of the CBAI and the IBA. His leadership has included advisory positions with the American Bankers Association, the Independent Community Bankers of America and the Herbert V. Prochnow Educational Foundation. A graduate of Ball State University and of the Graduate School of Banking at the University of Wisconsin, DeHaven was named Association Executive of the Year by the Indiana Society of Association Executives in 2010 and honored as a Sagamore of the Wabash in 2017. S. JOE DEHAVEN Indiana Bankers Association Indianapolis PATRICK J. GLOTZBACH The New Washington State Bank Charlestown Patrick J. Glotzbach is past president and CEO of The New Washington State Bank, Charlestown, and current president and CEO of New Independent Bancshares Inc. His career began in 1980 with the First Bank of Charlestown. A member of the Louisville branch board of the Federal Reserve Bank of St. Louis, Glotzbach is a past chairman of the Indiana Bankers Association, former American Bankers Association Membership Council representative and a past advisory board member of the Conference of State Bank Supervisors. He is active with the City of Charlestown Vision Team and the River Ridge Development board, and has been recognized by Louisville Business First as one of Twenty People to Know in Banking. Glotzbach is a graduate of Vincennes University, of the Stonier Graduate School of Banking and of the ABA National Commercial Lending School. LEADERS IN BANKING EXCELLENCE
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