CONTENTS 16 JULY/AUGUST 2022 EDITORIAL: Nebraska Banker seeks toprovide news and information relevant toNebraska and other news and information of direct interest to members of the Nebraska Bankers Association. Statement of fact and opinion aremade on the responsibility of the authors alone and do not represent the opinion or endorsement of the NBA. Articles may be reproduced with written permission only. ADVERTISEMENTS: The publication of advertisements does not necessarily represent endorsement of those products or services by the NBA. The editor reserves the right to refuse any advertisement. SUBSCRIPTION: Subscription to the magazine, which began bimonthly publication in May 2006, is included in membership fees to the NBA. ©2022 NBA| The newsLINKGroup, LLC. All rights reserved. Nebraska Banker is published six times each year by The newsLINKGroup, LLC for theNBAand 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 NBA, 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. Nebraska Banker is a collective work, and as such, some articles are submitted by authors who are independent of the NBA. While Nebraska 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. 8 PRESIDENT’S MESSAGE SHARING A PRO-BANKING MESSAGE WITH ALL AGES One of the most rewarding activities that is part of my role at the NBA is visiting with K-12 and college students and educators. Richard Baier, President and CEO, Nebraska Bankers Association 12 WASHINGTON UPDATE NO DEAL: STATES SLAM ON BRAKES FOR CU ACQUISITIONS OF COMMUNITY BANKS It would have been the largest acquisition of a community bank by a credit union — but word came in mid-June that the deal was off between VyStar Credit Union and Heritage Southeast Bancorporation after a failure to receive regulatory approvals. Rob Nichols, American Bankers Association 13 EDUCATION CALENDAR 16 COUNSELOR’S CORNER DOES YOUR FINANCIAL INSTITUTION HAVE AFFIRMATIVE ACTION OBLIGATIONS? LIKELY YES! ARE YOU COMPLIANT? LIKELY NO! The Office of Federal Contract Compliance Programs (“OFCCP”), a division of the U.S. Department of Labor (“DOL”), has long been tasked with enforcing laws promoting equal employment opportunity and affirmative action, specifically as they affect federal contractors and subcontractors, and very likely financial institutions. Kelli P. Lieurance, Baird Holm, LLP 20 TECH TALK CHANGING YOUR VIEW OF CYBERSECURITY We often hear that technology, and especially information security, is regarded solely as an expense to your institution’s bottom line, but it’s high time we change that perspective. Jon Waldman, CISA, CRISC Executive Vice President, Information Security 22 THE IMPORTANCE OF ASSET PRICING AND ALM STRATEGY As if navigating the 2008 Housing Crisis and the 2020 Global Pandemic weren’t enough, banks now face the most feared economic monster of all — inflation. Andrew Okolski, The Baker Group 24 FORVIS BEGINS SERVING CLIENTS AS NEWEST TOP 10 PROFESSIONAL SERVICES FIRM FORVIS formally takes its place among the nation’s top 10 professional services firms today, offering comprehensive assurance, tax, advisory and wealth management services. FORVIS 26 SWOT-ING AT THE CRISSCROSSING CRYPTO CRACKDOWN In the 14 years since blockchain technology’s invention, banks have been left to compete with emerging business models and new stores of value, while operating in an uncertain vacuum of regulatory guidance. Theo Kelly, Associate General Counsel, Compliance Alliance NEBANKERS.ORG 4
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