ISSUE 5 2022 Official Publication of the Community Bankers Association of Kansas IRV MITCHELL CHAIRMAN JOSEPH ROTTINGHAUS CHAIRMAN-ELECT MICHELE LUNDY IMMEDIATE PAST CHAIRMAN WELCOME 2022-2023 BOARDMEMBERS THOMAS PRUITT SEC/TREAS
» Call Rick Gerber or Ryan Gerber at 1-866-282-3501 or email rickg@chippewavalleybank.com ryang@chippewavalleybank.com 1. Calling us is the first step. 2. You email us the appropriate documents of information. 3. CVB preparing the loan documents generally within 5 to10 days. 4. Meeting the customer. We will come to you to sign loan documents. 5. CVB wires the funds. 6. Wow that was easy. IS YOUR BANK SUFFERING UNREALIZED SECURITY PORTFOLIO LOSSES? ARE YOU IN NEED OF A CAPITAL INJECTION? Bank Stock and Bank Holding Company Stock Loans up to $50 Million Done the Simple Way
CONTENTS Issue 5 | cbak.com © 2022 Community Bankers Association of Kansas | The newsLINK Group, LLC. All rights reserved. In Touch is published six times each year by The newsLINK Group, LLC for the Community Bankers Association of Kansas and is the of f icial publication for this association. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of the Community Bankers Association of Kansas, its board of directors, or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. The Community Bankers Association of Kansas is a collective work, and as such, some articles are submitted by authors who are independent of the Community Bankers Association of Kansas. While In Touch encourages a first-print policy, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at 855.747.4003. Irv Mitchell Chairman Wilson State Bank Joe Rottinghaus Chairman-Elect Conway Bank Tom Pruitt Secretary/Treasurer Peoples Bank & Trust Company Michele C. (Mickey) Lundy Immediate Past Chairman Tampa State Bank DIRECTORS Josh Bailey Security State Bank Cheri Fahrbach First National Bank of Hutchinson Brandon Lee Union State Bank Jack Rowden Citizens State Bank Kent Culbertson First National Bank and Trust Melisa Sorenson Legacy Bank Margaret Nightengale Grant County Bank Jim Wayman ESB Financial STATE ICBA DIRECTORS Tanner Johnson Swedish-American Bank Shawn Mitchell President and CEO shawn@cbak.com Nikki Dohrman Senior Vice President/ Executive Director nikki@cbak.com Yvonna Hansen Vice President of Member Services yvonna@cbak.com Stuart Little Little Government Relations, LLC CBA STAFF 2022 CBA OFFICERS AND DIRECTORS IN EVERY ISSUE: 18 ANNIVERSARIES AND ANNOUNCEMENTS 19 BANK TRAINING WEBINARS 20 PRODUCTS AND SERVICES REFERENCE LIST 6 FLOURISH By Rebeca Romero, ICBA 8 INDEPENDENT BANKER PORTFOLIO MANAGEMENT By Jim Reber, ICBA Securities 10 BRUSHING UP ON DISCLOSURES FOR ARMs By William J. Showalter, CRCM, CRP, Senior Consultant Young & Associates, Inc. 14 2022 CBA ANNUAL MEETING AND TRADESHOW 17 THANK YOU ANNUAL CONVENTION & TRADE SHOW SPONSORS 8
CBA EDUCATIONAL Getaway 13 NIGHT GREEK ISLES & ITALY CRUISE August 14 to 27, 2023 Greek Isles & Italy Cruise This is our version of “All-Inclusive at Sea” WHO SHOULD ATTEND? Community Bankers, Directors, Employees, Associate Members, Family and Friends Book Early. Space will sell out quickly! https://www.cbak.com/wp-content/uploads/2022/08/2023-Greek-Isles-Cruise.pdf Visit the QR code for the full brochure
FLOURISH BY REBECA ROMERO, ICBA Connect with Rebeca on Twitter @romerorainey In today’s climate, the road ahead feels uncertain. Between growing inflation and fluctuating interest rates, the future may seem more clouded than ever, leaving us to ponder, “Where’s the crystal ball when you need it?” Yet, it doesn’t require clairvoyance to chart our path ahead; we can rely on our history and our experiences to map the course. For hundreds of years, community banks have stood strong, adapting to market changes and evolving to serve our communities. Through industry highs and lows, community banks have risen on a foundation of relationship banking and thoughtful preparation. Market shifts mean we must come back to those basics today, focusing on our strengths and what we can do to continue to excel. What sets us apart? How can we best demonstrate our commitment to our communities in the products and services we offer? Examining our strategic initiatives through this lens will help us ensure we aren’t simply reacting to a sense of urgency but proactively preparing for what lies ahead. And we wouldn’t be community banks if we didn’t approach our businesses from a customer-first mentality. Fortunately, we have access to technological tools that enable data to tell our success stories. We have information on customer preferences, behaviors and needs, which, in turn, allows us to make strategic decisions about how to prioritize our efforts and get real success stories out into the mainstream. But with everything in life, we can’t do it all. We need to prioritize as we enter budget discussions over the next few months. Our banks, customers and communities will benefit when we align objectives with the potential solutions or “By focusing on the problems we’re trying to solve and how those solutions will benefit our customers, we can separate timely initiatives from those that can wait.” opportunities that will make the most impact. By focusing on the problems we’re trying to solve and how those solutions will benefit our customers, we can separate timely initiatives from those that can wait. As you read this month’s budget issue, we hope you uncover ICBA resources to support you in your planning. From courses with Community Banker University to our ThinkTECH initiatives to Bancard’s Payments Strategy Guide and the ICBA Tell Your Story Marketing and Communications toolkit, we strive to provide solutions to help you address this post-pandemic society of instant gratification and digital transformation in a thoughtful, strategic manner. It’s no surprise that uncertain times lie ahead, but I can confidently say that community banks will continue to thrive with ICBA by their side. I don’t need a crystal ball to tell me that, though, because as they say, the best predictor of the future is past behavior, and for community banks, our steadfast history bears repeating for the customers and communities that continue to depend on us. Where I’ll be this month Like you, I’ll be kicking off our budget processes at ICBA, and with that spirit of fresh opportunities in mind, I’ll be dropping my oldest daughter off at college, and my youngest will be starting high school. cbak.com 6 In Touch
FMSI www.fmsiconsulting.com 913.955.3355 FMSI is a small business founded and located in Kansas, specializing in assisting community banks to succeed, a mission consistent with core CBA values. We have partnered with community banks for nearly 25-years providing core advisory services including asset/ liability, investment, and liquidity management. FMSI advisors actively assess market conditions and bank balance sheets of different size, mix, and capital levels. Market conditions are constantly changing presenting opportunities and challenges for CBA member banks. Interest rates are increasing for the first time in nearly a decade and now is a perfect time to partner with a trusted, industry leader. Establishing an FMSI relationship provides confidence your bank is optimizing the balance sheet, deploying necessary strategies, maximizing profitability, and managing balance sheet risks. FMSI is a Kansas CBA Endorsed Provider 7 ISSUE 5 | 2022
Endorsed Partner Bonds with bounce Floaters are gaining popularity. Again. The financial press, economic commentators and social media sites have used a collection of terms this year that convey a certain image of market values for investment securities: “Plummet,” “Underwater,” “Leaking oil,” and “Nosedive.” I think you get the picture. Community bankers have come to grips with the notion of their bond portfolios being — ahem — “submerged” in a number of ways. Most of these thoughts and actions are quite logical and, from a safety and soundness perspective, responsible. Asset/liability risk postures are still suggesting higher net interest margins. Liquidity, in the sense of the availability of short-term assets on demand, is still plentiful. Many banks are prepared for deposit runoff if that ever happens. And then, there is once again the notion that floating rate assets can actually be a salvation from a yield and price stability point of view. Reward may be returning This column, in many cases, reflects what your correspondent hears from community bankers at conventions, seminars and old-fashioned discussions. It has been a number of years since adjustable-rate bonds have appeared in this space, mainly because they have had yields or prices almost impossible for investors to like. More recently, using the outbreak of the COVID-19 pandemic as a starting point, portfolio managers were almost forced to buy fixed-rate investments to stabilize their shrinking (“plunging?”) net interest margins. This very column’s headline in December 2020 was “The One Percenters,” and it went through the progression of what it took for an investment INDEPENDENT BANKER PORTFOLIOMANAGEMENT to yield 1.0% to maturity. Trust me when I say it was not a money-market equivalent. Now, as several rate hikes are behind us and more are likely on the way, even the shortest securities are approaching yield respectability. The remainder of this column will discuss several of the more popular options, with the hope that you can find one or more that may be suitable for your own bank’s portfolio. Do we dare to say “buoyant”? Most adjustable The most rate-sensitive, and therefore price-stable, investments have these standard features: • Visible, liquid money-market index • Short reset periods • High or no interest rate caps, both periodic and life • Near-term first reset date Each of these is built into Small Business Administration (SBA) 7(a) pools. A further sweetener is that SBAs are full faith and credit instruments and 0% risk-weighted. It’s possible to buy these to effectively yield the prime rate minus 2.4%, which is the same as saying fed funds plus 0.6%. That may not sound exciting until one considers that it’s conceivable the net yield could be approaching 3% a few quarters from now. Another enticement is the market values of 7(a)s are remarkably stable. Most pricing models project that they would be down only about 2%, even in a high-rate shock environment. It must be said that many of these pools can come to market with high premium prices of 10 points or more, which absolutely creates prepayment risk to the investor. There are ways to cbak.com 8 In Touch
BRUCE GOETSCH National Sales Manager bgoetsch@myservion.com 651-497-4734 myservion.com We provide financial institutions and borrowers the support they need to reach their financial goals. Re-envisionyour mortgage strategy. Correspondent Retail Wholesale Delegated Conventional FHA, VA, USDA Jumbo/Non-Conforming Quality control Contract processing Contract closing Servicing Appraisal review Servion Mortgage is a DBA of Servion, Inc. NMLS #1037 Equal Housing Lender partnership channels mortgage products additional services manage this exposure beyond the scope of this column, which your brokers can explain. Still, it’s safe to say 2022 is built for a bond like an SBA 7(a). Also in the discussion Mortgage-backed securities (MBS) come in several different adjustable-rate models. Among the more popular are collateralized mortgage obligation (CMO) floaters. These have some of the characteristics of an SBA, in that there are no periodic caps, and they float based on money-market indices, such as the secured overnight financing rate (SOFR). One comment is that they have very low priority to cash flows, so their prepayments and average lives can fluctuate wildly. Most investors don’t mind, as CMO floaters’ appeal is their quick reaction to rate changes. Be careful of those lifetime caps, however: They could be in the 4.0% range, which means their market values will lose some ground in higher rate scenarios. Commercial MBS, such as Freddie Mac’s “Ks,” also come in floating rate structures. Their indices are often SOFR, and they also have no periodic caps. Because Freddie Ks are collateralized by multifamily projects, they, too, can see very inconsistent cash flow if some of the larger properties experience prepayments. Again, like CMOs, these usually come to market with little or no premium, so the early payoffs may not hurt the yields. You’ll want to pay attention to the lifetime caps on these as well. All told, the expected path of monetary policy in 2022 should bode well for money-market alternatives, both for price stability and yield. Bonds that are submerged could be nicely complemented by short-duration instruments. Floaters may just be the answer to restore some levity to your investment portfolio. SBA preferred service provider Holtmeyer & Monson has been ICBA’s endorsed SBA lender service provider since 2006. H&M assists community banks in the underwriting and servicing of SBA loans, and can also provide secondary market assistance. For more information, visit holtandmon.com or call 800-340-7304. ICBA Securities names new directors ICBA Securities recently added these leadership bankers to its board of directors: Tommy Bates, Legends Bank, Clarksville, Tenn.; Blake Heid, First Option Bank, Paola, Kan.; Craig Wanichek, Summit Bank, Eugene, Ore.; and Aza Bittinger, Community Bankers Association of Ohio, Columbus, Ohio. Jim Reber is president and CEO of ICBA Securities, ICBA’s institutional, fixed-income broker-dealer for community banks. He can be reached at jreber@icbasecurities.com. 9 ISSUE 5 | 2022
Now that interest rates are beginning to move up, many bankers are blowing the dust off their adjustablerate mortgage (ARM) loan offerings. Interest rates for fixed-rate loans have been so low for quite some time, which made them much more appealing to mortgage loan customers. But now, with rates starting to increase, the lower initial rates of ARM loans are beginning to look more appealing, at least to some borrowers. The problem is that many of us are so out of practice making ARMs that we need a refresher to remind us what to do. This article serves as a primer to help us re-learn how to meet disclosure requirements for ARM loans. Different types of ARMs When we think of an adjustable-rate mortgage, the first thing that comes to mind is likely the classic loan with an interest rate that can change at some regular interval based on the movement of some external index. There is a wide variety of initial periods for which the rate is fixed and later intervals for rate changes over the life of the loan. Common initial fixed periods are one, three, five, seven, or 10 years, while probably the most common interval for later rate changes is one year. But that is not where the variety of ARMs ends. The Official Staff Commentary on Regulation Z discusses a number of other loan structures considered variable-rate transactions subject to the ARM disclosure requirements. These additional loan structures are: • Renewable balloon-payment loans where the creditor is both unconditionally obligated to renew the balloonpayment loan at the consumer’s option (or is obligated to renew subject to conditions within the consumer’s control) and has the option of increasing the interest rate at the time of renewal. • Preferred-rate loans where the terms of the legal obligation provide that the initial underlying rate is fixed but will increase upon the occurrence of some event (e.g., an employee leaving the employ of the creditor or an automatic payment arrangement being ended) and the note reflects the preferred rate (though a number of the ARM disclosures are not required for preferred-rate loans). • “Price-level-adjusted mortgages” or other indexed mortgages that have a fixed rate of interest but provide periodic adjustments to payments, and the loan balance reflects changes in an index measuring prices or inflation (again, a number of the ARM disclosures are not required for pricelevel-adjusted loans). It is important to note that graduated-payment mortgages and step-rate transactions without a variable-rate feature are not considered variable-rate transactions under Regulation Z. This is likely because changes over the loan are known at the outset — specified payment and/or interest rate increases. Application disclosures Two ARM disclosures must be given to applicants for such loans when an application form is provided or before the consumer pays a non-refundable fee, whichever is earlier. There is an exception that allows the disclosures to be delivered or placed in the mail no later than three business days following receipt of a consumer’s application when the application reaches the creditor by telephone or through an intermediary agent or broker. For an application accessed by the consumer in electronic form — including an online application portal — the required ARM disclosures may be provided to the consumer in electronic form on or with the application. These two early ARM disclosures are: • The booklet titled Consumer Handbook on Adjustable Rate Mortgages (CHARM booklet), or a suitable substitute; and • A loan program disclosure for each variable-rate program in which the consumer expresses an interest (each comprised of 12 specified pieces of information about the ARM program). TRID disclosures The Loan Estimate (LE) and Closing Disclosure (CD) require additional disclosures for ARMs. The LE must be provided to an applicant no later than the third business day after their application is received by the lender, while the CD must be provided no later than three business days before consummation. BY WILLIAM J. SHOWALTER, CRCM, CRP, SENIOR CONSULTANT YOUNG & ASSOCIATES, INC. BRUSHING UP ON DISCLOSURES FOR ARMs Associate Member cbak.com 10 In Touch
(There are also situations permitting or requiring these disclosures to be revised, but that’s a subject for another time.) The particular TRID (TILA-RESPA Integrated Disclosures) items impacted by a loan being an ARM are: • “Interest Rate” in the “Loan Terms” section — If the interest rate at consummation is not known, the rate disclosed must be the fully-indexed rate, which means the interest rate calculated using the index value and margin at the time of consummation. The lender also should disclose “Yes” to the question, “Can this amount increase after closing?” In addition, disclose the frequency of interest rate adjustments, the date when the interest rate may first adjust, the maximum interest rate, and the first date when the interest rate can reach the maximum interest rate, followed by a reference to the Adjustable Interest Rate (AIR) Table (discussed below). • “Monthly Principal & Interest Payment” in the “Loan Terms” section — If the initial periodic payment is not known because it will be based on an interest rate at consummation that is not known at the time the LE must be provided; for example, if it is based on an external index that may fluctuate before consummation, this disclosure must be based on the fully-indexed rate disclosed above. The lender also should disclose “Yes” to the question, “Can this amount increase after closing?” In addition, disclose the scheduled frequency of adjustments to the periodic principal and interest payment, the due date of the first adjusted principal and interest payment, the maximum possible periodic principal and interest payment, and the date when the periodic principal and interest payment may first equal the maximum principal and interest payment. • “Principal & Interest” payment in the “Projected Payments” section — The table of payments (principal and interest, mortgage insurance, etc.) will include more than one column due to the possible (projected) changes in the interest rate, up to a maximum of four columns. The maximum principal and interest payment amounts (in each column) are determined by assuming that the interest rate in effect throughout the loan term is the maximum possible interest rate, and the minimum amounts are determined by assuming that the interest rate in effect throughout the loan term is the minimum possible interest rate. If the ARM has a negative amortization feature, the maximum payment amounts must reflect this feature, as spelled out in Regulation Z. • “Adjustable Interest Rate (AIR) Table” — An ARM must disclose a separate table in the “Closing Cost Details” section on the LE and the “Additional Information About This Loan” section on the CD, under the heading “Adjustable Interest Rate (AIR) Table,” that contains specified information about the index and margin, increases in the interest rate, initial interest rate, minimum and maximum interest rate, frequency of adjustments, and limits on interest rate changes. • “Annual Percentage Rate (APR)” and “Total Interest Percentage (TIP)” in the “Comparisons” section on the LE and the Loan Calculations section on the CD — Calculation of both of these values must account for variations in the interest rate permitted for the ARM. Interest rate/payment change notices The creditor, assignee, or servicer of an ARM secured by a borrower’s principal dwelling must provide consumers with William J. Showalter, CRCM, CRP, is a Senior Consultant with Young & Associates, Inc. (www.younginc.com), with over 35 years of experience in compliance consulting, advising and assisting financial institutions on consumer compliance and compliance management issues. He also develops and conducts compliance training programs for individual banks and their trade associations and has authored or co-authored numerous compliance publications and articles. Bill can be reached at (330) 678-0524 or wshowalter@younginc.com. written notices in connection with the adjustment of interest rates in accordance with the loan contract that results in a corresponding adjustment to the payment. These notices must be separate from any other disclosures or notices. There are exemptions for the following: ARMs with a term of one year or less; first interest rate adjustment to an ARM if the first payment at the adjusted level is due within 210 days after consummation and the new interest rate disclosed at consummation was not an estimate; or when the lender/servicer is subject to the Fair Debt Collection Practices Act (FDCPA) for the particular loan and the customer has sent a notice to cease communications. The content for these change notices is spelled out in Regulation Z, and the timing depends on whether the rate/payment change is the first to occur for the ARM loan or a subsequent change. The initial adjustment notice must be provided to consumers at least 210 — but no more than 240 — days before the first payment at the adjusted level is due. If the first payment at the adjusted level is due within the first 210 days after consummation, the disclosures must be provided at consummation. All subsequent adjustment notices generally must be provided to consumers at least 60 — but no more than 120 — days before the first payment at the adjusted level is due. The disclosures must be provided to consumers at least 25 — but no more than 120 — days before the first payment at the adjusted level is due for ARMs with uniformly scheduled interest rate adjustments occurring every 60 days or more frequently and for ARMs originated prior to Jan. 10, 2015, in which the loan contract requires the adjusted interest rate and payment to be calculated based on the index figure available as of a date that is less than 45 days before the adjustment date. Periodic statements If your bank has taken advantage of the “coupon book” exception from periodic statements for mortgage loans with fixed rates, you will have to begin producing periodic statements when you begin originating ARMs. Or you will need to expand your statement output as more of the bank’s loan production shifts to ARMs from fixed-rate loans (if you still want to use the coupon books exception for your fixed-rate lending). Conclusion If your institution is like many community banks and has not been making ARMs for some time, you likely have some work to do to ramp ARM lending back up. Systems and disclosures need to be updated and/or activated. Disclosures need to be procured or prepared. Staff needs to be trained, at least some refresher training. Good luck re-ARMing up. 11 ISSUE 5 | 2022
Ease into innovative payment products at icba.org/bancard Ease into modern payments with the comfort of ICBA Bancard. High quality, innovative payment products, including mobile card apps. Backup support for your community bank in negotiating with payments providers. Letting your customers sit back and use payment solutions from anywhere. A strong foundation in thought leadership in payments and ongoing personalized support.
Bill Lloyd Call me at 573.268.5172 – Based in Columbia, MO Serving Missouri and Kansas 34604 AD- Community Bankers Association of Kansas 2022_Bill Lloyd_OT.indd 1 4/12/22 2:24 PM 13 ISSUE 5 | 2022
The 2022 CBA Annual Meeting and Tradeshow was held July 13-15, in Wichita, Kansas. It was a great getaway filled with learning, networking, new connections, and fun alongside your fellow Kansas community bankers and their families. A big thanks to our sponsors. We hope to see you at our next event. For more info, please visit www.cbak.com/events-2. 2022 CBA ANNUAL MEETING AND TRADESHOW cbak.com 14 In Touch
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THANK YOU ANNUAL CONVENTION & TRADE SHOW SPONSORS Diamond BHG Financial Bank Compensation Consulting (BCC) ICBA SHAZAM, Inc. Sapphire Advanced Business Solution (ABS) Bankers’ Bank of Kansas ICBA Bancard ICBA Securities RESULTS Technology Pearl Barret School of Banking CalTech Diebold Nixdorf FHLBank Topeka First Bankers Banc Securities, Inc. Spencer Fane, LLP Travelers UNICO Group, Inc. Ruby Community Bankers Webinar Network Financial Management Services, Inc. Hyatt Regency, Wichita MPA S&P Global Works24 17 ISSUE 5 | 2022
ANNIVERSARIES ANNOUNCEMENTS 1887 135 Years State Exchange Bank Mankato 1896 126 Years Elk State Bank Clyde 1906 116 Years Bank of Commerce & Trust Co. Wellington 1900 122 Years First State Bank Ransom 1906 116 Years Grant County Bank Ulysses 1984 38 Years Community National Bank Seneca 1992 30 Years The Trust Company Manhattan 1898 124 Years Peoples Bank & Trust Co. McPherson 1903 119 Years Haviland State Bank Haviland 1906 116 Years Argentine Federal Savings Overland Park 1906 116 Years Stockgrowers State Bank Maple Hill 1910 112 Years Union State Bank Olsburg 1988 34 Years Bankers’ Bank of Kansas Wichita 1929 93 Years Farmers State Bank Fairview September October The Trust Company of Kansas welcomes Mandi Plunk as Trust Officer for their Wichita team. Mandi Plunk joined The Trust Company of Kansas (TCK) Wichita office on June 27, 2022. She will work closely with Vice President & Trust Officer Paul Fowler on the day-to-day administration of his client relationships. Mandi comes to us with 13 years of finance and trust experience, supplying thorough support to clients and coworkers. Her ability to thrive while tackling multiple projects and her passion for boosting company morale make her a great addition to the TCK team. Mandi recently completed Cannon Financial Institute Trust School I & II and will continue to expand her knowledge and expertise in financial planning, estate planning, taxes, and fiduciary investment management to serve TCK’s valued clients. cbak.com 18 In Touch
4 - O C T 5 - O C T 6 - O C T 1 1 - O C T 1 2 - O C T 1 3 - O C T 1 8 - O C T 1 9 - O C T 2 0 - O C T 2 5 - O C T 2 6 - O C T 2 7 - O C T 1 - N O V 2 - N O V 3 - N O V 8 - N O V 9 - N O V 9 - N O V 1 0 - N O V 1 5 - N O V 1 6 - N O V 1 7 - N O V 2 9 - N O V C h a p t e r 7 & 1 3 C o n s u m e r B a n k r u p t c i e s : S p e c i a l R u l e s , C r a m d o w n s & R i s k s R e g E & t h e E l e c t r o n i c F u n d T r a n s f e r A c t A r e S a f e D e p o s i t B o x e s o n t h e W a y O u t ? C a l l R e p o r t L o a n C l a s s i f i c a t i o n s I m a g e s , V i d e o , A u d i o : W h a t ' s N e w & N e x t f o r S o c i a l M e d i a P l a t f o r m s ? P r e p a r i n g f o r E x a m i n a t i o n U n d e r t h e M o r t g a g e S e r v i c i n g R u l e s T r a d i t i o n a l & R o t h I R A P a r t 2 : D i s t r i b u t i o n s , T a x a t i o n , W i t h h o l d i n g & P e n a l t i e s H a n d l i n g R e g E D i s p u t e s C o n f i d e n t l y & C o m p l i a n t l y N e w P r o p o s e d R e g u l a t o r y P o l i c y o n C R E L o a n A c c o m m o d a t i o n s & W o r k o u t s H a n d l i n g C o u r t - O r d e r e d A c c o u n t s : E s t a t e s , G u a r d i a n s h i p s , C o n s e r v a t o r s h i p s & B a n k r u p t c y A b i l i t y t o R e p a y : Q u a l i f i e d M o r t g a g e s & T I L A R E S P A D i s c l o s u r e s R o b b e r y B a s i c s & B e y o n d P e r f o r m a n c e - B a s e d C o m p e n s a t i o n S t r a t e g i e s f o r B a n k s J o b - S p e c i f i c B S A T r a i n i n g f o r L e n d e r s S A R F i l i n g R e q u i r e m e n t s : W h e n , H o w & W h y F o r m 1 0 9 9 R e p o r t i n g : T h i r d - P a r t y V e n d o r s , F o r e c l o s u r e s , D e b t F o r g i v e n e s s & M o r e I R S R e p o r t i n g , B N o t i c e s , F i n e s & P e n a l t y L e t t e r s F i n a n c i a l E x p l o i t a t i o n & E l d e r F r a u d P r e p a r i n g f o r F e d N o w : T e c h n o l o g y , P r o d u c t s , S e r v i c e s & M o r e M o r t g a g e L e n d i n g C o m p l i a n c e O v e r v i e w S o c i a l M e d i a : P a i d , O w n e d , E a r n e d B S A E s s e n t i a l s f o r t h e B o a r d & S e n i o r M a n a g e m e n t B e s t P r a c t i c e s f o r P e r f o r m i n g Q u a l i t y - C o n t r o l L o a n R e v i e w s x B A N K T R A I N I N G W E B I N A R S Visit fin-ed.info/cbak for over 200 live & on-demand webinars fin-ed.info/cbak 19 ISSUE 5 | 2022
ABSTRACTING Security 1st Title Wichita, KS . . . . . . . . . 316-267-8371 ACCOUNTING/TAX RETURNS Allen, Gibbs & Houlik, LC Wichita, KS . . . . . . . . . 316-267-7231 The Fullinwider Firm, LLC Liberty, MO . . . . . . . . . 816-781-6939 Varney & Associates, CPAs, LLC Manhattan, KS . . . . . . . . 785-537-2202 ACH *SHAZAM Johnston, IA . . . . . . . . . 515-288-2828 ADVERTISING SPECIALTIES *Works24 Brian, Edmond, OK . . . . . 800-460-4653 ALARMS & SECURITY PRODUCTS Federal Protection Springfield, MO . . . . . . . 800-299-5400 Oppliger Banking Systems, Inc. Lenexa, KS . . . . . . . . . .800-487-7875 ASSET LIABILITY MANAGEMENT *Financial Management Services, Inc. (FMSI) Chuck, Overland Park, KS. . . . .913-955-3355 QwickRate Marietta, GA . . . . . . . . 800-285-8626 ATM EQUIPMENT (NEW/USED) Federal Protection Springfield, MO. . . . . . . . 800-299-5400 Oppliger Banking Systems, Inc. Lenexa, KS . . . . . . . . . 800-487-7875 AUCTION Purple Wave Manhattan, KS . . . . . . . . 785-537-7653 BACK ROOM SERVICE Modern Banking Systems Ralston, NE . . . . . . . . . 800-592-7500 BALANCE SHEET CONSULTING *Financial Management Services, Inc. (FMSI) Chuck, Overland Park, KS . . . 913-955-3355 BANK OPERATIONS The Baker Group Oklahoma City, OK . . . . . .800-937-2257 QwickRate Marietta, GA . . . . . . . . 800-285-8626 BANK/PEER PERFORMANCE QwickRate Marietta, GA . . . . . . . . 800-285-8626 BANKRUPTCY Hinkle Law Firm Wichita, KS . . . . . . . . . 316-267-2000 Spencer Fane LLP Overland Park, KS . . . . . . 800-526-6529 BANK STOCK LOANS & LOAN OVERLINES Commerce Bank Kansas City, MO . . . . . . . 800-821-2182 *S&P Global Stacy, Charlottesville, VA . . . .434-951-4419 BOND ACCOUNTING First Bankers Banc Securities Overland Park, KS . . . . . . 913-469-5400 *ICBA Securities Corporation Jim, Memphis, TN . . . . . . . . . . . . 800-422-6442 COMPLIANCE ASSISTANCE/REVIEWS *Advanced Business Solutions (ABS) Sandy, Olathe, KS . . . . . . .913-731-6007 Allen, Gibbs & Houlik, LC Wichita, KS . . . . . . . . . 316-267-7231 *BHG Bank Group Tom, Syracuse, NY . . . . . . 315-372-4510 *MPA Systems David, Fort Worth, TX . . . . .888-233-1584 Purple Wave Manhattan, KS . . . . . . . . 785-313-2094 Varney & Associates, CPAs, LLC Manhattan, KS . . . . . . . . 785-537-2202 Young & Associates, Inc. Kent, OH . . . . . . . . . 800-525-9775 CONSULTING Abrigo Raleigh, NC . . . . . . . . . 919-851-7474 *Bank Compensation Consulting (BCC) Rich, Plano, TX . . . . . . . .303-482-1844 Young & Associates, Inc. Kent, OH . . . . . . . . . 800-525-9775 CORRESPONDENT SERVICES Commerce Bank Kansas City, MO . . . . . . . 800-821-2182 First National Bank of Hutchinson Hutchinson, KS . . . . . . . 800-293-0683 CORE SERVICES Data Center Inc. (DCI) Hutchinson, KS . . . . . . . 620-694-6800 Modern Banking Systems Ralston, NE . . . . . . . . . 800-592-7500 *SHAZAM Bill M. Johnston, IA . . . . . . . . . . . .515-306-8012 CREDIT AND PORTFOLIO RISK MANAGEMENT Abrigo Raleigh, NC . . . . . . . . . 919-851-7474 Young & Associates, Inc. Kent, OH . . . . . . . . . 800-525-9775 Credit Card Program *ICBA Bancard & TCM Bank Heather, Washington, DC . . . .800-242-4770 CREDIT SUPPORT *Advanced Business Solutions (ABS) Sandy, Olathe, KS . . . . . . .913-731-6007 DATA PROCESSING Data Center Inc. (DCI) Hutchinson, KS . . . . . . . 620-694-6800 Modern Banking Systems Ralston, NE . . . . . . . . . 800-592-7500 DEBIT/ATM CARD SERVICES *ICBA Bancard/TCM Bank Heather, Washington, DC . . . .800-242-4770 *SHAZAM Matt M. Johnston, IA . . . . . 515-480-5767 DEBT COLLECTION Hinkle Law Firm Wichita, KS . . . . . . . . . 316-267-2000 DIGITAL LENDING *BHG Bank Group Tom, Syracuse, NY . . . . . . 315-372-4510 Products and Services Reference List Each asterisk (*) represents an agreement for a specific endorsed product with that company. Not all products that these companies offer are endorsed by CBA. To see a detailed list and explanation of endorsements, visit CBA online at cbak.com. Keep in mind that the services provided by each company on this list may only be a sampling of the many services they offer. By their CBA Associate Membership, these companies have shown their commitment to serving community banks. Please look to these companies first, whenever possible, to meet your banking needs. The following CBA Associate Members are ready to serve you when you need them. Please keep this list handy, and the next time you’re looking for a specific service, you’ll know where to look first! Remember, this is just a sampling of what each company provides. cbak.com 20 In Touch
DIRECTORS AND OFFICERS INS. *Travelers Danielle, St. Louis, MO . . . . 800-255-5072 *UNICO Group, Inc. Diana, Lenexa, KS . . . . . . 800-755-0048 DIRECTORS EXAMS Allen, Gibbs & Houlik, LC Wichita, KS . . . . . . . . . 316-267-7231 The Fullinwider Firm, LLC Liberty, MO . . . . . . . . . 816-781-6939 Varney & Associates, CPAs, LLC Manhattan, KS . . . . . . . . 785-537-2202 DISASTER RECOVERY FACILITY PROGRAM *MPA Systems David, Fort Worth, TX . . . . .888-233-1584 ELECTRONIC SERVICES Fitech Payments Fort Worth, TX . . . . . . . . 682-201-5551 EMERGENCY FACILITIES/MODULAR BANK BUILDINGS FOR LEASE *MPA Systems David, Fort Worth, TX . . . . .888-233-1584 EMPLOYEE AND EXEC. BENEFITS *Bank Compensation Consulting (BCC) Rich, Plano, TX . . . . . . . .303-482-1844 Woner, Reeder & Girard, P.A. Topeka, KS . . . . . . . . . 785-235-5330 ESCROWS Security 1st Title Wichita, KS . . . . . . . . . 316-267-8371 FINANCIAL INST. BOND *Travelers Danielle, St. Louis, MO . . . . 800-255-5072 *UNICO Group, Inc. Diana, Lenexa, KS . . . . . . 800-755-0048 HUMAN RESOURCES *UNICO Group, Inc. Kansas City, KS . . . . . . . 800-755-0048 INFORMATION TECHNOLOGY CalTech Olathe, KS . . . . . . . . . 325-947-5550 Computer Services, Inc. (CSI) Paducah, KY . . . . . . . . 800-545-4274 Kansas Bankers Technologies Salina, KS . . . . . . . . . .888-752-8435 RESULTS Technology Overland Park, KS . . . . . . 877-435-8877 Varney & Associates, CPAs, LLC Manhattan, KS . . . . . . . . 785-537-2202 INSURANCE — BANK *Bank Compensation Consulting (BCC) Rich, Plano, TX . . . . . . . .303-482-1844 *Travelers Danielle, St. Louis, MO . . . . 800-255-5072 *UNICO Group, Inc. Diana, Lenexa, KS . . . . . . 800-755-0048 INSURANCE PRODUCTS Producers XL Salina, KS . . . . . . . . . 800-541-6705 INTEREST RATE RISK SERVICE *Financial Management Services Inc. (FMSI) Chuck, Overland Park, KS . . . 913-955-3355 *ICBA Securities Corporation Jim, Memphis, TN . . . . . . . . . . . . 800-422-6442 INTERNAL AUDIT *Advanced Business Solutions (ABS) Sandy, Olathe, KS . . . . . . .913-731-6007 The Fullinwider Firm, LLC Liberty, MO . . . . . . . . . 816-781-6939 INTERNET BANKING Data Center Inc. (DCI) Hutchinson, KS . . . . . . . 620-694-6800 *ICBA Bancard/TCM Bank Heather, Arlington, VA . . . . .800-242-4770 INTERNET WORLD WIDE WEB Oppliger Banking Systems, Inc. Lenexa, KS . . . . . . . . . 800-487-7875 INVESTMENTS Central States Capital Markets Kansas City, MO . . . . . . . 800-851-6459 Commerce Bank Kansas City, MO . . . . . . . 800-821-2182 *Financial Management Services Inc. (FMSI) Chuck, Overland Park, KS. . . . 913-955-3355 First Bankers Banc Securities Overland Park, KS . . . . . . 913-469-5400 *ICBA Securities Corporation Jim, Memphis, TN . . . . . . . . . . . . 800-422-6442 21 ISSUE 5 | 2022
IT SECURITY CalTech Olathe, KS . . . . . . . . . .325-947-5550 Computer Services, Inc. (CSI) Paducah, KY . . . . . . . . 800-545-4274 Kansas Bankers Technologies Salina, KS . . . . . . . . . .888-752-8435 RESULTS Technology Overland Park, KS . . . . . . 877-435-8877 LEGAL SERVICES Hinkle Law Firm Wichita, KS . . . . . . . . . 316-267-2000 Spencer Fane LLP Overland Park, KS . . . . . . 800-526-6529 Woner, Reeder & Girard, P.A. Topeka, KS . . . . . . . . . 785-235-5333 LENDING *BHG Bank Group Tom, Syracuse, NY . . . . . . 315-372-4510 Bankers Healthcare Group Syracuse, NY . . . . . . . . 866-588-7910 LOAN COLLECTIONS AND WORKOUTS Spencer Fane LLP Overland Park, KS . . . . . . 800-526-6529 Woner, Reeder & Girard, P.A. Topeka, KS . . . . . . . . . 785-235-5330 LONG RANGE PLANNING The Capital Corporation, LLC Overland Park, KS . . . . . . 913-498-8188 Varney & Associates, CPAs, LLC Manhattan, KS . . . . . . . . 785-537-2202 MARKETING Harland Clarke Newton, KS . . . . . . . . 800-322-0818 *SHAZAM Johnston, IA . . . . . . . . . 515-288-2828 *Works24 Brian, Edmond, OK . . . . . 800-460-4653 Products and Services Reference List MERCHANT PROCESSING *SHAZAM Johnston, IA . . . . . . . . . 515-288-2828 MERCHANT SERVICES Fitech Payments Fort Worth, TX. . . . . . . . 682-201-5551 MERGERS/ACQUISITIONS The Capital Corporation, LLC Overland Park, KS . . . . . . 913-498-8188 Spencer Fane LLP Overland Park, KS . . . . . . 800-526-6529 NETWORK SECURITY Kansas Bankers Technologies Salina, KS . . . . . . . . . .888-752-8435 PAYMENTS Fitech Payments Fort Worth, TX . . . . . . . . 682-201-5551 *ICBA Bancard Heather, Washington, DC . . . .800-242-4770 PORTFOLIO MANAGEMENT Central States Capital Markets Kansas City, MO . . . . . . . 800-851-6459 *Financial Management Services Inc. (FMSI) Chuck, Overland Park, KS . . . 913-955-3355 PROMOTIONAL PRODUCTS Harland Clarke Newton, KS . . . . . . . . 800-322-0818 RETIREMENT PLANNING Central States Capital Markets Kansas City, MO . . . . . . . 800-851-6459 First Bankers Banc Securities Overland Park, KS . . . . . . 913-469-5400 SECONDARY MORTGAGE MARKET LENDING FHLBank Topeka Topeka, KS . . . . . . . . . 800-933-2988 SECURITY MONITORING Federal Protection Springfield, MO . . . . . . . 800-299-5400 SUPPLEMENTAL HEALTH INSURANCE *UNICO Group, Inc. Diana, Lenexa, KS . . . . . . 800-755-0048 TECHNOLOGY SERVICES CalTech Olathe, KS . . . . . . . . . 325-947-5530 Computer Services, Inc. (CSI) Paducah, KY . . . . . . . . 800-545-4274 Kansas Bankers Technologies Salina, KS . . . . . . . . . .888-752-8435 RESULTS Technology Overland Park, KS . . . . . . 877-435-8877 QwickRate Marietta, GA . . . . . . . . 800-285-8626 *S&P Global Stacy, Charlottesville, VA . . . .434-951-4419 TELECOMMUNICATIONS CONSULTING Verge Network Solutions, Inc. Oklahoma City, OK . . . . . .405-782-8420 TELECOMMUNICATIONS SERVICES Verge Network Solutions, Inc. Oklahoma City, OK . . . . . .405-782-8420 TELECOMMUNICATIONS SYSTEMS Verge Network Solutions, Inc. Oklahoma City, OK . . . . . .405-782-8420 TITLE INSURANCE Security 1st Title Wichita, KS . . . . . . . . . 316-267-8371 WEBSITE DEVELOPMENT *S&P Global Stacy, Charlottesville, VA . . . .434-951-4419 WHOLESALE LENDING FHLBank Topeka Topeka, KS . . . . . . . . . 800-933-2988 cbak.com 22 In Touch
ONE LAST THING ... Did you know that you can enjoy your association news anytime, anywhere? Scan the QR code or visit: in-touch.thenewslinkgroup.org Check it out! The new online article build-outs allow you to: • Stay up to date with the latest association news • Share your favorite articles to social channels • Email articles to friends or colleagues There is still a flipping book for those of you who prefer swiping and a downloadable PDF. 801.676.9722 | 855.747.4003 sales@thenewslinkgroup.com ARE YOU READY FOR GROWTH? ADVERTISE IN THIS MAGAZINE AND GET YOUR BRAND IN THE HANDS OF YOUR TARGET MARKET. 23 ISSUE 5 | 2022
Diana Poquette Account Executive 402.499.1011 dpoquette@unicogroup.com Financial Institution Bonds Property & Casualty Cyber Risk Directors & Officers INSURANCE FOR BANKS Financial Institution Bonds Social Engineering Extended Coverage Enhancements No Annual Forms Cyber Risk Updated Benefits and Enhancements Dependent Business Interruption Cyber Extortion Directors & Officers Broad Form With Regulatory Coverage 3 Year Policy Savings Employment Practices Liability Bankers Professional Liability Property & Casualty General Liability Commercial Property Umbrella Liability Workers’ Compensation COVERING ALL OF NEBRASKA , KANSAS AND MISSOURI This magazine is designed and published by The newsLINK Group, LLC | 1.855.747.4003 Community Bankers Association of Kansas 5897 SW 29th St. Topeka, KS 66614 Change Service Requested PRSRT STD US POSTAGE PAID SALT LAKE CITY, UT PERMIT NO 508
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