Pub. 11 2023 Issue 3

22 2023 MIB EXECUTIVE OFFICERS Tim Schreiber, President Farmers State Bank tims@farmersebank.com Loren Brown, Vice President Ascent Bank, Helena lbrown@ascentbank.com Amber Brown, Secretary Peoples Bank of Deer Lodge abrown@pbdl.net Clinton Gerst, Treasurer Bank of Bozeman cgerst@bankofbozeman.com Andrew West, Immediate Past President Eagle Bank, Polson awest@eaglebankmt.com Kenny Martin, ICBA State Director First Montana Bank, Helena kmartin@firstmontanabank.com 2023-2024 MIB BOARD OF DIRECTORS Tom Christnacht First Security Bank of Deer Lodge Laura Clark Opportunity Bank, Helena Bill Coffee Stockman Bank, Miles City Daniel Day Bank of Montana, Missoula Shawn Dutton First Security Bank of Roundup Brice Kluth First State Bank of Shelby Scott Mizner American Bank, Bozeman Mike Moore Stockmens Bank, Cascade Joel Rosenberg Three Rivers Bank of Montana, Kalispell Phil Willett Pioneer Federal Savings and Loan, Dillon ASSOCIATE BOARD MEMBER Ryan Fritz Citizens Alliance Bank rfritz@citizensalliancebank.com MIB STAFF Jim Brown, Executive Director Montana Independent Bankers jbrown@mibonline.org ©2023 Montana Independent Bankers | The newsLINK Group, LLC. All rights reserved. Community Banker is published four times each year by The newsLINK Group, LLC for the Montana Independent Bankers and is the official publication for this association. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of the Montana Independent Bankers, 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. Community Banker is a collective work, and as such, some articles are submitted by authors who are independent of the Montana Independent Bankers. While Community Banker 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. Montana Independent Bankers 1812 11th Ave. P.O. Box 4893 Helena, MT 59604-4893 406.449.7444 jbrown@mibonline.org mibonline.org 16 30 6 President’s Message Bank Income and Liquidity Concerns By Tim Schreiber, President 8 Executive Director’s Message MIB: Stronger Than Ever By James E. Brown, Esq., Executive Director 10 From The Top By Derek Williams, Chairman, ICBA 11 Flourish By Rebeca Romero Rainey, President and CEO, ICBA 12 MIB 2023 Awards 14 Portfolio Power Barbell Structure May Be the Right Regimen By Jim Reber, President and CEO, ICBA Securities 16 UnderstandingYour Bank’s 401(k) Fiduciary Liability By Andy Phillips, Benefit & Financial Strategies, LLC 18 Featured Associate Member Citizens Alliance Bank 19 2023 MIB Important Dates 20 Banking Trouble With Liquidity By Andrew West, Eagle Bank 22 Compliance Q&A Summer 2023 By Bill Showalter, Senior Consultant, Young & Associates, Inc. 26 Member News ICBA 40 Under 40 27 The FDIC Was Audited. What Does That Mean for Community Banks? Four Things To Know About the FDIC Audit By Melissa DeDonder, Pinion 30 MIB’s 56th Annual Convention and Trade Show 31 Thank You Convention Sponsors 32 2023 MIB Membership Directory 33 MIB Associate Member Resource Guide 34 MIB Associate Member Banks 35 Bank Training Webinars Contents SUMMER 2023 Cover photo: Amber Brown and Joel Rosenberg from 2023-2024 Board of Directors NOT pictured. Community Banker 5

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