Pub. 8 2020 Issue 4

1 The Community Banker Contents ©2021 Montana Independent Bankers | The newsLINK Group, LLC. All rights reserved. The 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. The Community Banker is a collective work, and as such, some articles are submitted by authors who are independent of the Montana Independent Bankers. While the 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. 2021 MIB BOARD OF DIRECTORS Amber Brown Peoples Bank of Deer Lodge Bill Coffee Stockman Bank, Miles City Daniel Day Bank of Montana, Missoula Shawn Dutton First Security Bank of Roundup Clinton Gerst Bank of Bozeman, Bozeman Scott Mizner American Bank, Bozeman Brice Kluth First State Bank of Shelby Kenny Martin First Montana Bank, Helena Mike Moore Stockmens Bank, Cascade Joel Rosenberg Three Rivers Bank of Montana, Kalispell Phil Willett Pioneer Federal Savings and Loan, Dillon Andrew West, President Eagle Bank, Polson awest@eaglebankmt.com Adam McQuiston, Vice President First Montana Bank, Missoula amcquiston@firstmontanabank.com Loren Brown, Secretary Ascent Bank, Helena lbrown@ascentbank.com Tim Schreiber, Treasurer Farmers State Bank, Florence tims@farmersebank.com Tom Christnacht, Immediate Past President First Security Bank of Deer Lodge tomc@1stsecuritydl.com Pete Johnson, ICBA State Director Opportunity Bank, Helena pjohnson@oppbank.com Jim Brown Executive Director Montana Independent Bankers jbrown@mibonline.org MIB STAFF 2021 MIB EXECUTIVE OFFICERS (406) 449-7444 jbrown@mibonline.org www.mibonline.org Montana Independent Bankers 1812 11th Ave P.O. Box 4893 Helena, MT 59604-4893 2 President’s Address 4 Executive Director’s Report 6 Featured Article: Q&A with FHLB Member Director Joe Kesler 8 Featured Associate Member: Bell Bank 8 Associate Member News: Upgrade Is a New Associate Member 8 Associate Member News: Dakota Business Lending Welcomes Anjie Martins 9 Flourish 10 From the Top 11 Guest Article: Questions to Answers 12 Guest Article: Tactics for Navigating Tectonic Shifts in Liquidity 14 Community Bankers for Compliance 15 Guest Article: SOFR Takes the Spotlight as LIBOR’s Days Are Numbered 16 Guest Article: Avoid Common Mistakes With IRA Beneficiary Designations 18 Compliance Q&A: Winter 2021 20 Banking News from the State Capital 23 2021 MIB Membership Directory 24 MIB Associate Member Resource Guide 25 Upcoming Webinars Cover Photo Mount Cannon, Glacier National Park © Gail Downey Steele