Table of Contents 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60

2023 Vol. 107 No. 1

Jamie R. Shinabarger Committed to Advocacy and Community INDIANA BANKERS ASSOCIATION JANUARY / FEBRUARY 2023 PLUS! 2022 Banking on Women Conference

Baker’s Software Solutions Service Package Includes: Asset/Liability Analysis – Interest Rate Risk Monitor (IRRM®) Your management team will find that The Baker Group’s quarterly review of the loan and deposit information outlined in the Interest Rate Risk Monitor and Asset Liability Analysis is an effective tool in managing your risk and performance. Bond Accounting – Baker Bond Accounting® (BBA) The Baker Group will provide you with accurate, easy-toread reports delivered electronically to you each month. Investment Analysis – Advanced Portfolio Monitor (APM®) The Advanced Portfolio Monitor is a key monthly report that we utilize to help you measure, monitor, and manage the overall risk and performance of your investments. Balance Sheet Liquidity – Dynamic Liquidity Monitor (DLM) The Dynamic Liquidity Monitor allows users to simulate multiple “what if” scenarios to assess impacts on balance sheet liquidity. It is effectively a dynamic “sources and uses” model that enables you to adjust assumptions on a variety of things. *The Baker Group LP is the sole authorized distributor for the products and services developed and provided by The Baker Group Software Solutions, Inc. To obtain the resources you need to maximize the performance of your financial institution, contact our Financial Strategies Group at 800.937.2257, or FreeTrial@GoBaker.com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s financial institutions face unprecedented times, The Baker Group is ready with tools and services to help maximize the performance of your institution. That’s why we’re offering new clients our Software Solutions* service package for a six-month free trial. Not only will you have access to our latest market research and insight from our Financial Strategies Group, you’ll be included in all of our webinars. There you’ll hear the latest Information on the economy and how it could impact your institution and its investment portfolio. Oklahoma City, OK | Austin, TX | Dallas, TX | Houston, TX | Indianapolis, IN | Long Island, NY | Salt Lake City, UT | Springfield, IL Member: FINRA& SIPC www.GoBaker.com Six-Month @ǺƔɛ ǺƳŭʎ FREE TRIAL

DIRECTORS & STAFF PUBLISHER Amber R. Van Til EDITOR Evan Hoffmeyer ADVERTISING Rod Lasley DESIGN The Westcott Group Inc. SUBMISSIONS HB@indiana.bank ADVERTISING Media kits are available at indiana.bank. Advertising is reserved for members and associate members of the Indiana Bankers Association. DEADLINES Editorial and ad reservations are due the 20th of the month, two months before publication. SUBSCRIPTIONS Subscriptions are provided free of charge to members and associate members of the Indiana Bankers Association. ABOUT The flagship publication of the Indiana Bankers Association, Hoosier Banker is distributed to all banks and thrifts headquartered in Indiana, IBA-member banks headquartered out-of-state and IBA associate members. PUBLICATION DISCLAIMER Hoosier Banker (ISSN 0018 473X) is published bimonthly by the IBA Service Corp., a subsidiary of IBA Holding Company Inc., which is a wholly owned subsidiary of the Indiana Bankers Association. Material published in Hoosier Banker and on the IBA website is the property of the IBA. All rights reserved. CONTACT IBA Email IBA staff using first name initial and last name, plus “@indiana.bank” – example: jdoe@indiana.bank INDIANA BANKERS ASSOCIATION 8425 Woodfield Crossing Blvd., Suite 155E Indianapolis, IN 46240-7321 Vol. 107 No. 1 IBA BOARD OF DIRECTORS Officers Jamie R. Shinabarger, Chairman..........Springs Valley Bank & Trust Company, Jasper Benjamin J. Bochnowski, First Vice Chairman ..............................Peoples Bank, Munster Matthew W. Howrey, Second Vice Chairman ..............................North Salem State Bank Garry D. Kleer, Immediate Past Chairman ............................................. First Bank Richmond Amber R. Van Til, President and CEO ........................................Indiana Bankers Association Constituent Directors Michael K. Bauer, ABA Membership Council ..............WesBanco Bank, Wheeling, WV Michael H. Head, ICBA State Director ...................First Federal Savings Bank, Evansville Brock C. Goggins, IBA FLD President............................... German American Bank, Jasper Joseph F. Breen, Non-IN HQ Banks ...........Huntington National Bank, Columbus, OH Regional and At-Large Directors David M. Findlay, At-Large ..........................................................................Lake City Bank, Warsaw Kent A. Liechty, At-Large.........................................................................................First Bank of Berne J. Daniel Maddox, North Region ...........................................Citizens State Bank, New Castle Bradley J. Monts, North Region..............Hoosier Heartland State Bank, Crawfordsville Jacqueline M. Ruge-Perkins, North Region ...............................First State Bank of Porter Lisa Arnold, South Region...........................................................................Home Bank, Martinsville Gregory Inman, South Region .......................Scottsburg Building and Loan Association John M. Kennedy, South Region...................................................................gbcBANK, Greenfield IBA FUTURE LEADERSHIP DIVISION ADVISORY BOARD Brock C. Goggins, President ................................................... German American Bank, Jasper Michael J. Clampitt, Vice President .....................................................North Salem State Bank Ryan Anderson .............................................................The Fountain Trust Company, Covington Greg Barnes Jr. .....................................................................................................STAR Bank, Fort Wayne Jenilee Bransteter........................................................................................................First Bank of Berne Ryan Cook .................................................................................................Mutual Savings Bank, Franklin Kyle Goodwin ................................................................................................................DeMotte State Bank Christopher Griffith ..............................................................................First Harrison Bank, Corydon Zach Hockersmith ...........................................Hoosier Heartland State Bank, Crawfordsville Casey Johnson ....................................................................................................Home Bank, Martinsville Jonathon Malin ........................................................Community First Bank of Indiana, Kokomo Andrea McGordon .................................................................................Old National Bank, Evansville Amanda Morris-Feldman ............................................First Federal Savings Bank, Rochester Jon-Myckle D. Price .............................................Security Federal Savings Bank, Logansport Laura Shake.....................................................................................The National Bank of Indianapolis Casey Shireman ...........................................................................................................NWSB, Charlestown IBA STAFF Amber R. Van Til ............................................................................................................President and CEO Rod Lasley ................................................................................................................Chief Operating Officer Dax Denton ........................................................................................................................Chief Policy Officer Christina M. Bennett, CMP...............................................Vice President - Meetings & Events Josh Myers............................................................................Vice President - Member Engagement Laurie A. Rees ........................................................................Vice President - Education & Training Ross Teare .............................................................................Vice President - Government Relations Evan Hoffmeyer ....................................................Assistant Vice President - Communications Emily Brooks............................................................................................................Digital Media Manager Maria L. Dowers ...........................................Executive & Government Relations Coordinator Susan Clark ...............................................................................Events & Products/Services Assistant Elizabeth DeHaven ....................................................................................................Education Manager Beth Abney ..........................................................................................Education Meeting Coordinator Timothy Fry ............................................................................................................................Staff Accountant Tracy Kubly ...................................................................................................................Technology Manager Silvia Peraza ..........................................................................................................Administrative Assistant HB HOOSIER BANKER indiana.bank OUR ASPIRATION The Indiana Bankers Association strives to grow stronger banks and stronger communities. OUR VALUES In fulfilling our mission, we will: Maintain the highest ethics, integrity and respect for others; Serve with professionalism, innovation and resourcefulness; Instill passion, positive attitude and enthusiasm; Remain mindful that the success of the IBA is judged by the success of its members.

IN THIS ISSUE 20 PROUDLY PRESENTING The 2023 IBA Board of Directors Meet this year's leadership team of the Indiana Bankers Association. 14 ARTICLE SPOTLIGHT Banking on Women Conference In its sixth year, the Indiana Bankers Association’s Banking on Women Conference grew to record attendance. “Banking is a relationshipbased industry.” 58 CLOSING NOTE IBA Board Review Brock C. Goggins, German American Bank, Jasper Get to know Brock C. Goggins, who joins the Indiana Bankers Association Board of Directors this year as the new president of the IBA Future Leadership Division Advisory Board. 10 Jamie R. Shinabarger Committed to Advocacy and Community

SALES & MARKETING 37 Sales Coaching: Why It Matters Jeni Wehrmeyer, Anthony Cole Training Group LLC LENDING / CREDIT 38 A Solution to Liquidity Jason Young, CSI OPERATIONS / TECHNOLOGY 40 The Risks of Cryptocurrency Katie Horvath, Aunalytics INDIANA BANK & THRIFT UPDATE 44 Stock Analysis Michael A. Renninger, Renninger & Associates LLC CLOSING NOTE 58 IBA Board Review Brock C. Goggins, German American Bank, Jasper DEPARTMENTS 25 Honorable Mentions 30 IBA ‘High Five’ Awards 33 Banking Center News 41 From the Board Room 48 Associate Members’ Corner 52 Banking on Community 55 Bankers on the Move 57 Advertisers Index FEATURES 06 VANTAGE VIEWPOINT Amber R. Van Til, IBA 07 CHAIRMAN'S REPORT Jamie R. Shinabarger, Springs Valley Bank & Trust Company, Jasper 09 IBA CALENDAR OF EVENTS COVER STORY 10 Jamie R. Shinabarger, 2023 IBA Chairman 20 PROUDLY PRESENTING THE 2023 IBA BOARD OF DIRECTORS 34 BOLSTERING CYBERSECURITY Rebeca Romero Rainey, ICBA 36 REINING IN A REGULATOR GONE ROGUE Robert S. Nichols, ABA ARTICLES ARTICLE SPOTLIGHT 14 Banking On Women Conference Laurie A. Rees, IBA GR SUMMIT 18 ESG and Forced Access Dax Denton and Ross Teare, IBA FLD FOCUS 24 FLD Roundup Josh Myers, IBA AG BANKING 26 Farm Margins to Narrow in 2023 Brady Brewer, Purdue University DIRECTORS / SENIOR MANAGEMENT 27 Bankers Cite Economy, Cybersecurity as Top Risks Carl White, Federal Reserve Bank of St. Louis 46 Inflation's Impact on Municipal Finances Dana Sparkman, The Baker Group COMPLIANCE CONNECTION 29 Avoid Collections Blowback Brett J. Ashton, Krieg DeVault LLP HUMAN RESOURCES 31 Differences in Distributions Due to Divorce Lisa Haberman, Ascensus 42 Social Media in the Workplace Debra A. Mastrian, Amundsen Davis LLC PSP SHOWCASE 32Top Scams Targeting Seniors Aimee Leeper, CRA Partners 33 52 INTERACT WITH US

6 JANUARY / FEBRUARY 2023 Welcome to 2023! I hope you all had a wonderful holiday season and were able to enjoy time with loved ones away from the office. Your association staff and leadership are gearing up for a big year, and it started right away. The Government Relations team is working hard at the Statehouse as lawmakers debate a forced access bill. Unfortunately, this misguided proposal will have far-reaching implications that would seriously – and negatively – impact the Indiana banking community, the communities we serve and the state of Indiana. The proposal effectively turns banks into social police. The IBA is watching this bill very closely as it moves through the legislative process and will leverage our grassroots network as needed to make sure our members are able to continue to make educated and experienced lending decisions. Keep an eye out for any updates and action notices from the GR team and Board of Directors. We closed out 2022 with our popular Indiana Economic Outlook Luncheon. The event held on Dec. 2 drew an audience of 257 – a 20% increase over 2021 – including 13 Indiana legislators. The new year started out with another legislative touchpoint at our Legislative Reception and Briefing Jan. 31, featuring a briefing on industry-related legislative issues followed by a reception with elected officials and a panel discussion featuring WFYI’s Indiana Week in Review team. The Future Leadership Division will host its annual FLD Day at the Statehouse Tuesday, March 7, giving up-and-coming leaders the chance to learn about and actively engage in advocacy. And the acclaimed IBA Leadership Development Program begins its intensive, eight-month training in late February. Space is limited, so be sure to act quickly to identify your best and brightest for this Don’t Miss Out! FLD Day at the Statehouse March 7 Future Leadership Division participants learn about and engage in grassroots advocacy. Mega Conference May 16-18 Mega is the largest, most comprehensive state banking event in the nation. Commercial Lending School June 5-9 Mid-level bank officers and commercial loan officers receive a thorough understanding of commercial lending administration. For event updates, visit: indiana.bank/calendar Amber R. Van Til President and CEO Indiana Bankers Association AVanTil@indiana.bank VANTAGE VIEWPOINT program. The skills developed and lessons learned can help your emerging leaders contribute to your bank’s future. This will be the second year of our current strategic plan. Staff and board members have plans in place to continue pushing the IBA forward in all five areas of focus: Next-Level Government Relations, Next-Level Banking Talent, Next-Level Operational Effectiveness, New Ventures for Indiana Banks, and Position IBA for Future Opportunities. Look for announcements here in Hoosier Banker as well as in your inbox throughout the year for how you can leverage these new opportunities. If you haven’t been getting messages from the IBA, make sure your tech team has white listed the @indiana.bank domain. If they have and you’re still having problems, contact our team at communications@ indiana.bank and they can help troubleshoot. Email notices are one of the best tools we have available to make sure you’re getting the information that’s pertinent to you – and cut down on paper flyers. Thanks once more to Garry Kleer for his service to the association as its chairman last year, and congratulations to Jamie Shinabarger on his election as chair for 2023. I look forward to working with him – and each of you – throughout the new year! HB More than 150 employees from IBA-member banks and associate members attended the IBA’s annual Legislative Briefing & Reception Jan. 31 at the Hyatt Regency in Indianapolis.

Hoosier Banker 7 $400,000 goal for the 2023 IBA BANKPAC campaign. The goal in 2022 had been $350K, so I knew it was a tall order, but I pledged an additional $10,000 (or 20% of the proposed increase) on behalf of Springs Valley Bank to close the gap and as an indication that all the points I made beforehand go much deeper than simply words. Our 2022 donation total came within a few hundred dollars of $410,000, so together I know we can break $400,000 again this year. While our IBA Washington Trip attendance has been good, our numbers the last couple of years have been down about 30% from our historic highs of around 100 bankers. Those who attend regularly, I appeal to you to reach out to two bankers you know and invite them to participate. Let’s get back to 100 or more Indiana bankers planting our flag on Capitol Hill! I appreciate the vote of confidence you gave to advance me into Gary Kleer’s big shoes as your 2023 IBA chairman. I look forward to working together with Amber and her dedicated team of professionals. Striving for excellence is evident and appreciated by our community bank membership. Please join me on the next leg of the IBA journey in search of hyper-relevancy in our 126th year of existence in 2023! HB Back in September at the Indiana Bankers Association Annual Convention, we began strategizing for 2023. We knew some of the challenges ahead would be tied directly to the polarizing political environment in which we find our country. As bankers, we want the freedom to serve customers based on the merits of the relationship, not the politics of the day. That said, we cannot ignore the state and federal legislative landscape. That’s why engagement with our legislators and regulators remains paramount in stopping bad legislation or regulations (defense), while promoting those bills and laws that produce a favorable banking climate (offense). We cannot rely on our friendly neighborhood bankers down the street. It’s up to each one of us within our institutions to promote Indiana BANKPAC, to engage one-on-one with state and federal legislators/regulators (both in our home districts and when we travel to DC for the annual IBA Washington Trip), and to respond throughout the year when the IBA, Independent Community Bankers of America or American Bankers Association puts out a “call to action” asking for comment letters, emails or other grassroots activity on pending legislation. Yes, I know our day job is banking, but if we don’t advocate well and make it a real priority, our “day job” will become much more difficult, and our long-term viability may be challenged. Successful and enduring organizations take inventory and reinvent themselves to remain relevant and impactful. A paraphrase from Michael S. Hyatt’s book “Your Best Year Ever,” says it this way: If we want to win, we need to get beyond our natural urge to play it safe ... jump outside our comfort zones and set some challenging goals. In the fall of 2021, IBA leaders met to revise our strategic plan to do just that: step out of our comfort zone and set some challenging goals. Within the confines of five strategic pillars (Next Level Government Relations, Next Level Banking Talent, Next Level Operational Effectiveness, New Ventures for Indiana Banks and Position IBA for Future Opportunities), we plan to take the IBA to new heights in terms of impactfulness to you, our members. Each pillar has several defined initiatives to complete over the next couple of years. I encourage you to look at the plan summary, available at indiana.bank/strategic-plan, and share any thoughts you have with IBA leadership. One of IBA’s consistently noted fortes is our lobbying efforts locally and nationally. It matters because, as Amber Van Til and Dax Denton remind me frequently, “If we don’t have a seat at the table, we might be on the menu!” Being successful lobbyists requires building trust and respect with key legislators and financially supporting their campaigns in a meaningful way. At IBA’s Annual Convention, I challenged all of you to help us hit a Jamie R. Shinabarger Chairman Indiana Bankers Association President, CEO and Director Springs Valley Bank & Trust Company, Jasper CHAIRMAN'S REPORT Hoosier Heartland State Bank • @myHHSB • Nov 29 HHSB was proud to make a donation to Grace & Mercy Ministries to help stock their food pantry this holiday season. Grace & Mercy has helped feed over 7,343 households in our community this year! Want to help? We’re hosting a food drive thru Dec. 9 – stop by with a donation! STAR Bank • @STARFinancial • Nov 21 STAR believes our communities become more vibrant and unique through amazing art. We are thrilled to support Mental Health America of Northeastern Indiana through their Art of Hope event. Such inspiring art supports the important work done for this community in need. Merchants Bank of Indiana • @MerchantsBankIN Nov 7 In collaboration with @kibiorg, we were privileged to provide amenities and attend the ribbon cutting ceremony for a new playground & renovated green space at Constitution Gardens Apartments. We’re proud to have provided the community with a space for families to enjoy! First Savings Bank • @fsbindiana • Oct 29 Charlestown Branch Manager, Lesli Croxton, presented a check to the Police Department in support of ‘Shop With a Cop.’ #community #giveback #whereyourealwaysfirst Home Bank • @HomeBank_1890 • Sep 28 Martinsville Youth Development Center exists to “provide a place where all young people can realize their full potential as productive, responsible, and caring citizens.” We are honored to support MYDC with a $15,000 gift! #MakingLivesBetter Follow IBA Twitter @indianabankers NOTABLE QUOTES Bank Community Service on Twitter

To learn more, contact Shawn Norris, RHU, ChHC | 812.422.4000 | shawn.norris@nfp.com Health insurance today is a catch-22: insurance costs continue to go up, but you want better benefits at lower costs. Your health plan needs to line up with your needs and your goals — without breaking the bank. That’s where NFP and UnitedHealthcare come in. They’ll work with you to create competitive, fairlypriced options with an eye on your bottom line. The Right Solutions at the Right Time Working with NFP and UnitedHealthcare will allow the IBA Group Insurance Trust to provide you with the following benefits: • Flexible, lower-cost, quality group insurance plans and strategies. • Defined road map for reducing present and future healthcare costs. • Flexible prescription drug approach (approximate 20% savings through discounts and rebates). • Access to the nation’s largest provider network, offering seamless healthcare access within Indiana and nationwide. • Powerful data, insights, and innovation to help build a focused, strategic approach for achieving healthier results at a lower cost. • Industry-driven approaches to support IBA’s goal of delivering quality health insurance and pricing that is not attainable to member banks standing alone.

View full calendar and register online at indiana.bank/calendar, 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 ONLINE Build knowledge via webinars or on-demand. CLASSROOM Learn with peers in a classroom setting. SCHOOLS Deepen understanding through multi-day learning. EVENTS Experience a variety of IBA gatherings. CONFERENCES Convene and connect at signature IBA events. Calendar of Events Frontline Branch Series – Session 2 March 1 • Virtual IT & Operations Officer Forum – Group 1 March 1 • IBA Center IT & Operations Officer Forum – Group 2 March 2 • IBA Center Detecting and Dealing with Problem Loans – Session 1 March 6 • Virtual FLD Day at the Statehouse March 7 • Hilton Indianapolis Hotel & Suites Professional Development/Education/ Training Forum March 7 • IBA Center Essentials of Commercial Credit Analysis Series – Session 1 March 7 • IBA Center Retail Lending Series – Session 1 March 8 • IBA Center Risk Management Forum March 9 • IBA Center Essentials of Banking 101 – Session 1 March 9 • Virtual Certified Teller Program: Essential Teller Issues – Evening Program March 13 • Virtual Detecting and Dealing with Problem Loans – Session 2 March 13 • Virtual Human Resources Director Forum March 14 • IBA Center Call Report March 15 • IBA Center Financial Statement Analysis & Cash Flow Analysis March 15-16 • IBA Center New Account Documentation & Compliance March 16 • IBA Center Frontline Branch Series – Session 3 March 22 • Virtual Retail Banking Management Series – Session 2 April 11 • IBA Center Loan Operations Manager Forum April 11 • IBA Center Essentials of Commercial Credit Analysis Series – Session 2 April 12 • IBA Center Recent Fair Lending Issues April 12 • IBA Center Retail Lending Series – Session 2 April 13 • IBA Center Implementing the New Regulation B Small Business Loan Data Collection and Reporting April 13 • IBA Center Leading Your Banking Team to Sales Success April 25 & 26 • IBA Center Frontline Branch Series – Session 4 April 26 • Virtual Retail Banking Forum May 2 • IBA Center BSA Officer Forum May 3 • IBA Center Essentials of Banking – Session 2 May 9 • Virtual Community Bankers for Compliance Program - Session 2: Issues and Errors in the Loan Application Process May 9 • IBA Center Essentials of Commercial Credit Analysis Series – Session 3 May 10 • IBA Center Auditing RESPA & Escrow May 10 • IBA Center Retail Lending Series – Session 3 May 11 • IBA Center Mega Conference May 16-18 • Indiana Convention Center Indianapolis Bank Security Officer Forum May 23 • IBA Center Leadership Development Program – Session 2 May 23-25 • Abe Martin Lodge Brown County State Park Compliance Officer Forum June 1 • IBA Center Commercial Lending School June 5-9 • IBA Center CFO Forum – Group 1 June 8 • IBA Center CFO Forum – Group 2 June 9 • IBA Center Compliance Operations Bootcamp June 13 • IBA Center Commercial Loan Documentation June 13 • IBA Center Compliance for Lenders and Loan Processors June 14 • IBA Center NOTE: For the latest information about IBA event dates, locations and format, please visit: indiana.bank/calendar CALENDAR UPDATE

10 JANUARY / FEBRUARY 2023 COVER STORY Jamie R. Shinabarger was officially elected 2023 chairman of the Indiana Bankers Association at the 2022 Annual Convention in French Lick on Sept. 12, succeeding Garry D. Kleer. He assumed his duties as chairman on Jan. 1, 2023. Shinabarger is president, CEO and director of Springs Valley Bank & Trust Company as well as its parent company, SVB&T Corporation, Jasper. He joined the bank in 2008 as chief lending officer but was quickly promoted to president. He started his career with Federal Land Bank of Bryan, Ohio, serving from 1980-1986. After a merger, he moved to Hicksville Building & Loan Savings Company, which soon obtained a savings bank charter and became Hicksville Building & Loan Savings Bank. After seven years with the bank, he was promoted to president and served in that capacity for 14 years before moving to Springs Valley in 2008. Active in his community, Shinabarger serves on the boards and executive committees of Dubois Strong (Dubois County local economic development organization) and Radius Indiana (regional eight-county southern Indiana economic development organization), and is a member of the Kiwanis Club of Jasper and Junior Achievement. Additionally, he is a member of The Bank CEO Network and serves on the executive committee of Friends of Traditional Banking, a national bipartisan super PAC committed to advocating for bank-friendly candidates in key senate races. Shinabarger earned a bachelor’s degree from Taylor University, an MBA from Indiana Wesleyan University and a certificate of completion in executive education from the Ohio State College of Business. He is a member of the Indiana Bankers Association 40 Year Club. Jamie Shinabarger Committed to advocacy and community Hoosier Banker interviewed Shinabarger last fall about his upcoming term as chairman. What was it that attracted you to banking as your career? I’ve always liked connecting people. I grew up on a farm, so that’s how I ended up at Federal Land Bank. I moved a little bit away from that when I was working for the thrift in Ohio. When I first arrived at Springs Valley Bank & Trust Company, we only had about $15 million in ag business. We hired a proficient man with ag lending experience and an undergraduate degree from Purdue plus a master’s in economics from Kansas State. We backfilled the gap in some of the lending we’d previously done with some ag credits, and now it’s about 25% of our portfolio. What would you say was a pivotal moment in your career? Seven years into my time at Hicksville Building & Loan Savings Company when our president left, even though it wasn’t really in my DNA, I pressed myself to take the position and I was president of the bank there for 14 years. That institution was somewhat a casualty of the Great Recession, so another pivotal moment would be when I was back in the job market in 2007-08 trying to do all the digital stuff. It was quite a learning curve when I made the move to Springs Valley. The time here has been

Hoosier Banker 11 valuable, and I’ve had the benefit of using my previous experience to avoid some of those pitfalls here. How does IBA involvement help your career? The connections I have made through the IBA have been timely and significant, and getting to know the other community bankers has been of value. We all share ideas. The peer groups are really good, and they’re structured so you’re not sharing information with direct competitors. The training is valuable, especially for smaller banks where you don’t have the same in-house resources, regardless of whether you are in the middle-to-lower tiers of the organization or an officer. You’re always one of the first to volunteer for grassroots advocacy work. What drives that passion and commitment, and how has that impacted your career in banking? I get fulfillment from connecting someone who has a problem to the resource they need. Banks are perfect for bridging that gap – they really are the engine of commerce in these small communities. That extends into the advocacy piece as well. IBA's government relations team is right when they say, 'If you don't have a seat at the table then you're likely on the menu.' As the voice of the industry, we need to be actively involved in solving problems - or stopping something before it becomes a problem. That can ABOVE: Springs Valley Bank & Trust Company’s senior management team. From left, Dianna Land, Craig Buse, Jamie Shinabarger, Marty Kaiser and Ryan Heim.

12 JANUARY / FEBRUARY 2023 coffee all day? My wife and I have traveled a fair amount and love to read. We’ll probably do more of that. We have five daughters and 14 grandkids. I’m not really a golfer. I golf about two best-ball activities a year, so that’s not really where I’m looking. My wife has really done a nice job in getting involved. She volunteers with Freedom Reigns, which is a horse therapy nonprofit, as well as the St. Vincent de Paul Food Bank, and serves as president of Trotter House Lifeline Family Center. I think I’m going to find a way to similarly be more engaged with charities and community causes. HB be something as simple as attending and participating in one of the summer regional meetings or the annual Washington lobbying trip. It’s easy, especially at the smaller banks where you do a lot of the hands-on, to feel like you don’t have time to write a letter about CRA modernization. But if you always rely on the other guy to do it, and the other guy says they’re going to rely on this other guy to do it, then nobody’s doing it. I know Jamie Shinabarger and wife “Sam” (Catherine Shinabarger) joined by Janice and Bruce Wright at the 2021 IBA Annual Convention in French Lick, Ind. Jamie Shinabarger (center) presenting two Springs Valley Bank & Trust Company employees with a “WOW” award (Renee Nord, left; Sandy Hemmerlein, right). it’s hard, but I think engaging legislatively is important because of how much regulation we have. Our compliance burden is pretty extensive. Describe your home life. What do you like to do for fun? I need more hobbies because I’m within a couple of years of retirement, so what am I going to do? Watch Fox News and drink A communications toolkit created by the Indiana Bankers Association helps member banks share good-news stories with media outlets. View the toolkit at: indiana.bank/communications-toolkit. HB Toolkit Helps ‘Tell the Story’ of Banking Tell the Story

Honor the shining stars of banking in your community by nominating the leaders, past and present, who have helped lead your institution to excellence. For more information about the annual IBA Leaders in Banking Excellence awards and nomination process, please contact Rod Lasley at the IBA, 317-387-9380, rlasley@indiana.bank. This prestigious distinction, IBA’s highest honor, celebrates exceptional bankers throughout Indiana’s history who have left their mark in BankingCommunity ServiceCivic Involvement Please consider the current and past presidents, CEOs, directors and others who have played an integral part in the success of your institution at the local level, as well as in the Indiana banking community. 2023 class of the IBA Leaders in Banking Excellence. Now through March 30, 2023, the Indiana Bankers Association is accepting nominations for the

THE POWER OF SISTERHOOD BANKING ON WOMEN CONFERENCE ARTICLE SPOTLIGHT BANKING ON WOMEN CONFERENCE 14 JANUARY / FEBRUARY 2023

Hoosier Banker 15 A standing-room-only crowd gathered at the Marriott Indianapolis North Nov. 2-3, for the IBA’s annual Banking on Women Conference. A recordhigh 448 women came together for professional development, networking and inspiration. Attendees gathered Wednesday morning, Nov. 2, for registration and networking, then delved into a full day of education. Sherri Reagin, chief financial officer at North Salem State Bank and chair of the Banking on Women Conference Committee, welcomed attendees and offered remarks on the importance of the event, followed by educational sessions on developing and refining your leadership presence, and managing your mindset during times of disruption. Lunch was paired with the return of last year’s popular Executive Women in Banking panel discussion. Moderated by IBA President & CEO Amber R. Van Til, the panel featured Nicole S. Lorch, president & COO of First Internet Bank of Indiana, Fishers; Kania D. Lottie, chief human resources & DEI officer of the Federal Home Loan Bank of Indianapolis; Shane R. Pilarski, president & CEO of Alliance Bank, Francesville; and Andrea Short, president of 1st Source Bank, South Bend; discussing how to advance your career. The panel was followed by the annual Banking on Women Awards presentations. Lisa Arnold, president and CEO of Home Bank, Martinsville, was honored with the prestigious IBA Woman of the Year Award, sponsored by Krieg DeVault LLP. The award celebrates women in banking for their professional excellence, community engagement and track record of supporting other women in reaching their full potential. Jess Hopkins, vice president and Fort Wayne market leader for First Merchants Bank, Muncie, was honored with the IBA Woman on the Rise Award, sponsored by Amundsen Davis LLC. This award recognizes a woman in banking age 40 or younger who makes a positive impact in her industry and community through engagement, drive and teamwork. After the awards, the conference returned to educational sessions on networking and surpassing others’ expectations, followed by a networking reception with exhibitors and an opportunity to bid on items at a silent auction benefitting the Indiana Coalition Against Domestic Violence. We are ecstatic to announce the silent auction raised a total of $7,300! Back by popular demand in the exhibit hall was Stephanie Nicole Photography, taking stunning headshots so attendees could update their social media brand and workplace websites. A delicious dinner led into lively entertainment from an entertaining dueling piano duo. Attendees then took over the stage with the first-ever Banking on Women Lip Sync Battle! Day 2 started with a continental breakfast and opening remarks from Amber Van Til. Education sessions included Leading with Intention; Shifting Power Through Diversity, Equity and Inclusion; Tapping the Firepower of Social Media; and Retaining and Empowering Women Bankers During the Great Resignation. Thank you to the planning committee, attendees, speakers and sponsors who made the IBA Banking on Women Conference a glowing success yet again – and we can’t wait to see you at the 7th Annual Banking on Women Conference this fall! Be on the lookout for details as we get closer to our tentative early November dates. HB Laurie A. Rees Vice President – Education & Training Indiana Bankers Association LRees@indiana.bank

Lisa Arnold, president and CEO of Home Bank, Martinsville, was named the 2022 IBA Woman of the Year. The award, sponsored by Krieg DeVault LLP, recognizes a woman in the Indiana banking community who excels at her profession, is active in the community and supports other women in reaching their full potential. Arnold joined Home Bank in 1985 and has served in positions including branch manager, vice president of retail banking, chief operations officer, and now president and CEO. She is a past president of the Indiana Bankers Association Future Leadership Division and a current member of the IBA Board of Directors. Within the community, Arnold has previously served on the Franklin College Alumni Council, Stability First Advisory Board, Bridges Out of Poverty steering committee and the Better Communities Coalition. She earned her bachelor’s degree from Franklin College and an MBA from Indiana Wesleyan University. Arnold also is a graduate of the American Bankers Association Stonier Graduate School of Banking and the ABA National Commercial Lending School. HB Jess Hopkins, vice president and Fort Wayne market leader for First Merchants Bank, Muncie, was named the 2022 IBA Woman on the Rise. The award, sponsored by Amundsen Davis LLC, recognizes a woman age 40 or younger who makes a positive impact in banking and her community through engagement, drive and teamwork. Hopkins joined First Merchants Bank three years ago after 10 years with a regional bank and one year with a smaller community bank. She began her career as a teller, working her way up to lead teller, service manager, regional service consultant and now a vice president and market leader. Among her many points of community service, Hopkins is financial chair of the Pine Valley Community Association and a member of the YWCA Development and Marketing Committee, and she organizes community days for her team with Habitat for Humanity, Community Harvest Food Bank and the Fort Wayne Children’s Zoo. HB IBA Woman of the Year 2022 IBA Woman on the Rise 2022 Amundsen Davis LLC Bankers’ Bank BancMac/Community Banc Mortgage Corporation CLA Crowe LLP Dentons Bingham Greenebaum LLP Federal Home Loan Bank of Indianapolis First Financial Bank, Cincinnati FORVIS IBA Group Insurance Trust INvestEd IT Resource LLC The KeyState Companies Krieg Devault LLP Lake City Bank, Warsaw Profit Resources Inc. TCA Compliance United Bankers’ Bank Thank You, Sponsors ARTICLE SPOTLIGHT 16 JANUARY / FEBRUARY 2023

CONFERENCE GALLERY COLLABORATION Hoosier Banker 17

18 JANUARY / FEBRUARY 2023 GR SUMMIT The financial services industry is under increased pressure from federal regulators, investors, customers and employees to adopt environmental, social and governance (ESG) policies. ESG may include policies that take steps to help combat climate change, promote responsible lending practices or describe the diversity, equity and inclusion (DEI) policies related to corporate governance and employment practices. ESG statements may vary widely in focus and highlight a variety of items from paid maternity leave to investment in renewable energy. Recently, regulatory pressures have intensified in the climate change risk mitigation area. ESG has also become an area of focus from federal regulators. As the regulators move toward policies requiring actions from the banking industry related to climate change risk, banks must move forward with compliance. In response to these market and regulatory pressures, many financial institutions have adopted ESG statements, outlining their commitment to move forward with regulatory initiatives. However, this transition has not come without challenges. Unfortunately, the growing force to push the financial services industry into climate risk management by the federal government has elicited pushback from state legislative branches. Several states have either proposed or passed legislation that would penalize financial institutions accused of boycotting certain industries, such as the fossil fuel (coal, natural gas and crude oil) and firearms industries. The mission of this legislation is to deter financial institutions from making business deESG and Forced Access What’s coming to the Statehouse, and what it means for your bank cisions perceived by the affected industries as discriminatory. The practical consequence of these legislative approaches is to pressure financial institutions into making business decisions that could run contrary to risk assumption, lending expertise and general ability to make the best business decisions for their shareholders and customers. Ultimately, the result would be banks having to manage a new risk when doing business with the protected industries due to the risk of being penalized. There is concern about the ramifications of this forced access legislation on banks of all sizes. On principle, banks should be free to exercise their right to lend to, invest in and generally do business with any entity or activity that is legal without government interference. They also should be able to choose not to engage in lending, investing or other activities so long as they do not violate fair lending or other anti-discrimination laws. There are numerous lawful reasons, including creditworthiness, why a bank may choose not to do business with a particular company or industry. Forced access legislation creates a mindset that the government better understands the nuances of banking decisions than the banks themselves. One bank’s decision not to do business with an industry or company does not mean that the industry or company will be denied business. That industry or company retains the right to seek the services of another financial institution. Indiana’s banking system alone has approximately 125 banks of all sizes, both state- and federally chartered. Forced access legislation to combat ESG policies turns banks into the proverbial ping-pong ball. Dax Denton Chief Policy Officer Indiana Bankers Association DDenton@indiana.bank Ross Teare Vice President - Government Relations Indiana Bankers Association RTeare@indiana.bank (Continued on page 53.)

Property & Casualty | Collateral Protection Fee Income | Cyber | BOLI Your bank faces more uncertainties than ever... ...its insurance shouldn’t be one of them. inbankersins.com How confident are you in your current coverages? Let our expert team review your policies! Brandon Maggard bmaggard@inbankersins.com 317.489.6929 Chuck Maggard cmaggard@inbankersins.com 317.489.6928

IBA Officers Regional Directors Constituent Directors Chairman Jamie R. Shinabarger, Springs Valley Bank & Trust Company, Jasper First Vice Chairman Benjamin J. Bochnowski, Peoples Bank, Munster Second Vice Chairman Matthew W. Howrey North Salem State Bank Immediate Past Chairman Garry D. Kleer First Bank Richmond President and CEO Amber R. Van Til Indiana Bankers Association ABA Membership Council Michael K. Bauer WesBanco Bank, Wheeling, WV ICBA State Director Michael H. Head First Federal Savings Bank, Evansville IBA FLD President Brock C. Goggins German American Bank, Jasper Non-IN HQ Banks Joseph F. Breen Non-IN HQ Banks Huntington National Bank, Columbus, OH North Region J. Daniel Maddox Citizens State Bank, New Castle North Region Bradley J. Monts, Hoosier Heartland State Bank, Crawfordsville At-Large David M. Findlay Lake City Bank, Warsaw North Region Jacqueline M. Ruge-Perkins First State Bank of Porter South Region Lisa Arnold Home Bank, Martinsville South Region Gregory Inman Scottsburg Building and Loan Association At-Large Kent A. Liechty First Bank of Berne South Region John M. Kennedy gbcBANK, Greenfield At-Large Directors IBA Board of Directors

Hoosier Banker 21 Banking, a national bipartisan super PAC committed to advocating for bank-friendly candidates in key senate races. Shinabarger earned a bachelor’s degree from Taylor University, an MBA from Indiana Wesleyan University and a certification of completion in executive education from the Ohio State College of Business. Ben Bochnowski Benjamin J. Bochnowski, first vice chairman, is president and CEO of Peoples Bank, Munster, and CEO of Finward Bancorp. He also serves on the board of directors of the Indiana Department of Financial Institutions, a position he was appointed to by Gov. Eric J. Holcomb in 2019. Bochnowski joined Peoples Bank in 2010, was named president and chief operating officer in 2015, joined the Finward Bancorp board of directors in 2014 and was promoted to CEO of the bank and holding company in 2016. He serves locally on the board of directors of One Region, dedicated to attracting and retaining talent in Northwest Indiana, and previously served on the Membership Council of the American Bankers Association. The Indiana Bankers Association operates under the guidance of the Association’s Board of Directors. Acting as the governing body of the IBA, the board consists of 17 members: three elected officers, one past chairman, the Association president/CEO, two representatives of national associations, the Future Leadership Division president, a non-Indiana headquartered bank director, and eight regional and atlarge directors. The functions of the board are to develop IBA policy and to establish long-range goals and objectives. The board also helps determine the IBA’s legislative programs and positions on banking-related issues. The IBA board acts with the same authority as the board of a bank or a corporation. An executive committee – consisting of the chairman, first and second vice chairmen, immediate past chairman, Association president/ CEO and two appointed directors – is authorized to act in lieu of the board between regular board meetings. Officers serve one-year terms and are elected by the membership at the IBA Annual Convention. Members of the 2023 board assumed their positions Jan. 1. Jamie Shinabarger Jamie R. Shinabarger, IBA chairman, is president, CEO and director of Springs Valley Bank & Trust Company as well as its parent company, SVB&T Corporation, Jasper. He has 40 years of financial services experience serving with three financial institutions. Before joining the bank in 2008, Shinabarger was president and CEO of Hicksville Building, Loan & Savings Bank in Ohio, where he served from 1986 to 2007. He began his career in 1980 as an agricultural loan officer and appraiser with the Federal Land Bank of Bryan, Ohio, then served as a loan asset specialist with the consolidated Farm Credit Services of Defiance, Ohio, from 1980 to 1986. Shinabarger serves on the boards and executive committees of two economic development organizations, Dubois Strong and Radius Indiana, and additionally is a member of the Kiwanis Club of Jasper. He also serves on the executive committee of Friends of Traditional Proudly Presenting The 2023 IBA Board of Directors FEATURE Jamie Shinabarger participates in a joint meeting of the IBA Board of Directors and Government Relations Committee at the IBA's annual Legislative Briefing and Reception on Jan. 31, 2023, at the Hyatt Regency Indianapolis.

RkJQdWJsaXNoZXIy MTg3NDExNQ==