THREE STAGES to Unlock a People‑First Work Culture 2024 • Issue 5
WHY ? Tim Burns with customer Jami Schmidt Bank Stock Loans — Acquisition, Capital Injection, and Shareholder Buy Back/Treasury Stock Purchase Officer/Director/Shareholder Loans ( Reg-O) Participation Loans Purchased/Sold — Commercial, Commercial Real Estate, Agricultural, and Special Purpose Loans Leases Midwest Image Exchange – MIE.net™ Electronic Check Clearing Products Information Reporting – CONTROL Electronic Funds Cash Management and Settlement Federal Funds and EBA Certificates of Deposit International Services/Foreign Exchange Safekeeping Directors’ Exams Loan Review Compliance Audits IT Audits Lending Services Operational Services Audit Services mibanc.com MEMBER FDIC Contact Tim Burns 402-480-0075 The customer service that MIB provides to our community bank is exceptional. Tim Burns, our relationship manager, listens to our needs and helps our bank meet our goals. Their website protal we use for reports is very user-friendly and easy to navigate. We appreciate the relationship we have with MIB today! Jami Schmidt/CFO Henderson State Bank Henderson, NE
7 ©2024 The Nebraska Independent Community Bankers are proud to present The Nebraska Independent Banker as a benefit of membership in the association. No member dues were used in the publishing of this news magazine. All publishing costs were borne by advertising sales. Purchase of any products or services from paid advertisements within this magazine are the sole responsibility of the consumer. The statements and opinions expressed herein are those of the individual authors and do not necessarily represent the views of Nebraska Independent Community Bankers or its publisher, The newsLINK Group LLC. Any legal advice should be regarded as general information. It is strongly recommended that one contact an attorney for counsel regarding specific circumstances. Likewise, the appearance of advertisers does not constitute an endorsement of the products or services featured by The newsLINK Group LLC. The Nebraska Independent Banker is a collective work, and as such, some articles are submitted by authors who are independent of the Nebraska Independent Bankers Association. While the Nebraska Independent 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. Nebraska Independent Community Bankers 1201 Lincoln Mall, Ste. 103 Lincoln, NE 68508 (402) 474-4662 nicbonline.com The Nebraska Independent Banker is a publication of The Nebraska Independent Community Bankers Association. Issue 5 • 2024 TAKE A LOOK INSIDE 14 19 NICB Executive Committee Chairman Rick Heckenlively Points West Community Bank Sidney Chairman Elect Dave Ochsner Commercial Bank Nelson Vice Chairman Jim Niemeier Citizens State Bank Friend President/CEO Dexter Schrodt Secretary Kelly Lenners First State Bank Nebraska Pickrell Treasurer Arnold Lowell CerescoBank Ceresco Immediate Past Chairman Corby Schweers Elkhorn Valley Bank Wayne 4 FLOURISH Leveling the Playing Field By Rebeca Romero Rainey, President and CEO, ICBA 7 How CFPB’s Rule 1033 Could Affect Data Rights and Open Banking By Bradley Wallace, Director of Compliance, CSI 9 We Want to Feature You in Our Next Issue of The Nebraska Independent Banker! 11 Easing Into the Fall At Long Last, Some Rate Relief By Jim Reber, President and CEO, ICBA Securities 14 Three Stages to Unlock a People-First Work Culture By Katie Barnes, Chief People Officer, BHG Financial 19 Six Strategies To Boost Deposits By Matt Helsing, SVP & Northwest Regional Manager, PCBB 22 NICB Endorsed Partners 22 Associate Members 2024
Rebeca Romero Rainey is the president and CEO of ICBA. Connect with Rebeca on X @romerorainey. FLOURISH They say imitation is the greatest form of flattery, but when it comes to financial services, it doesn’t make for a fair banking environment. Just look at credit unions, trying to position themselves as “community” organizations without having to demonstrate that they meet Community Reinvestment Act requirements. Or Industrial Loan Companies, with holding companies not subject to bank compliance reviews. Or the Farm Credit System, which wants to compete with community banks but doesn’t want to be regulated like them. Or mega banks that are too big to fail, ensuring we pay the price with outsized regulation. The list goes on. We need a level playing field. As outlined in our recent report, “Finding Balance: How Well-Intended Policies Hamper Small Business Lending and Undermine Relationship Banking,” the disproportionate regulatory burden created for individual community banks makes it nearly impossible to compete with those who can position LEVELING THE PLAYING FIELD By Rebeca Romero Rainey, President and CEO, ICBA 4 NEBRASKA INDEPENDENT BANKER
their products and services free of regulatory constraints. They can avoid the heavy cost of compliance while ignoring the impact these imbalances have on our industry. At the end of the day, it’s the customer who will pay the ultimate price if unbalanced regulations are allowed to continue. They will face challenges when they can’t get an emergency loan during a pandemic, like we saw with the Paycheck Protection Program. They will struggle when their small business loan needs don’t meet standardized checkbox requirements. They will lose out when they don’t qualify for a mortgage because those same checkbox requirements apply in consumer environments. Right now, community banks step up in those situations, providing support based on the deep relationships they have in their communities. However, as more and more regulations come down on us, this ability to respond may be hindered, leaving our customers and communities without fair options. That’s why community banker engagement and grassroots actions are so incredibly important. We have to speak up and demonstrate how the lack of consistent regulation creates issues. We have to deliver stories that demonstrate the egregious acts committed by non-banks acting like banks. Congress needs to hear not just that community banks think it’s an unfair playing field, but to understand the harm this imbalance places on our communities. We encourage you to raise your voice and visit ICBA’s Action Center at icba.quorum.us for resources to help. In the meantime, we have a message for our imitators: If you want to be like us, you need to up your game to play by the same rules. Member FDIC Traci Oliver Eric Hallman Tara Koester Bankers’ Bank of the West We champion Community Banking bbwest.com | 800-873-4722 www.bbwest.com YOUR NEBRASKA RELATIONSHIP MANAGERS As a bankers’ bank we strive to help with every level of service and expertise. That is why we service anything from loan participations, merchant services, ATM/debit and much more, because we aim to answer your questions with, “…yes, we can do that too!” NEBRASKA INDEPENDENT BANKER 5
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HOW CFPB’S RULE 1033 COULD AFFECT DATA RIGHTS AND OPEN BANKING By Bradley Wallace, Director of Compliance, CSI The Consumer Financial Protection Bureau (CFPB) estimates that 100 million consumers have authorized third parties to access their data. That data drives endless business decisions and capabilities. But financial institutions and technology developers must also be aware of regulations regarding consumers and their rights over their data. One such proposed regulation, Rule 1033, would require financial institutions and other data providers to help consumers access and share their data securely using application programming interfaces (APIs). What is CFPB’s Rule 1033? Section 1033 of the Consumer Financial Protection Act of 2010 was sent for comment in October 2023 and is expected to be finalized in the fall of 2024. This proposed rule would require depository and non-depository entities to: • Make available to consumers and authorized third parties certain data relating to consumers’ transactions and accounts. • Establish obligations for third parties accessing a consumer’s data, including important privacy protections for that data. • Provide basic standards for data access. • Promote fair, open and inclusive industry standards. Compliance dates for this rule will be staggered based on institutional asset size, ranging from six months to four years from the date of the final rule publication. Rule 1033’s Potential Impact on Financial Data Rights The proposed rule is designed to address challenges with open banking by defining the: • Scope of data that third parties can access on a consumer’s behalf. • Terms on which data is made available. • Mechanics of accessing the data, proposed to be consumer permission based. It seeks to impose a framework in which data transfers occur via APIs instead of existing methods, such as screen scraping or credential sharing. Data providers would be required NEBRASKA INDEPENDENT BANKER 7
to maintain a digital interface for consumers and developers, both of which must meet certain performance specifications to receive and respond to data access requests. This approach aims to ensure third parties are acting on behalf of consumers when accessing their data and respect their privacy interests. Rule 1033 also promotes security and reliability, as it would apply a set of consistent standards across the market for sharing data. Third party access proposals would require these companies to provide an authorization disclosure to inform the consumer of key terms of access and obtain the consumers’ informed consent. According to the CFPB, the proposed rule would “forbid companies that receive data from misusing or wrongfully monetizing the sensitive personal financial data.” What Data Does Rule 1033 Cover? The rule includes a definition of the types of data that providers, such as card issuers and financial institutions, would need to make available upon request. According to the proposed rule, covered data includes: • Transaction information, including historical data (at least 24 months). • Account balances. • Terms and conditions. • Upcoming bill information. • Basic account verification information, such as name, address, email, etc. It excludes confidential commercial information, algorithms, information used to prevent fraud or money laundering or other crimes and information that is required confidential under other laws, as well as other information that the provider cannot retrieve in the ordinary course of business. At the request of a consumer or authorized third party, providers must make covered data available in a machine-readable format that can be retained by the consumer or authorized by a third party and transferred for processing into separate information systems — all without imposing fees or charges. How Rule 1033 is Accelerating Open Banking So, what does Rule 1033 have to do with open banking? Open banking uses APIs to enable developers to access an institution’s data, which includes customer data. The technological approach enables banks to offer new products or services without building them internally or relying on a single provider. Rule 1033 aims to place data rights in the hands of consumers, expanding the definition of open banking and giving them more control. While that control could make customers less “sticky,” it could be welcome news for institutions that prioritize a relationship-based approach to customer service, like community banks. As consumers exercise more control over their data, they’re more able to switch to banks that provide personalized service and their desired products instead of remaining with those that hoard all their financial data but provide poor service and lacking products. Data Rights Considerations in Open Banking As with any technology partnership, concerns may arise regarding data sharing and third-party data breaches. However, there are ways to mitigate risk for your institution. And the opportunities that open banking provides — from improving customer experience to expanding revenue lines — can better position your institution against the competition. As a data steward, your bank should consider several factors to protect your customers and remain compliant. Safeguard your digital services, core platform and any other sectors placed into your open banking ecosystem. Your bank should also ensure you have secure processes in place, including handling file transfers without opening yourself up to any vulnerabilities. To maximize your security and incident preparedness, develop and maintain policies and procedures for preventing and managing a security breach. Additionally, make sure you understand data retention and data deletion obligations. How to Qualify an Open Banking Vendor Partnering with third-party vendors to enhance your offerings is a key part of open banking, but you must stay vigilant and keep bad actors out of your open banking network. Here are a few considerations your institution should keep in mind when qualifying a vendor: • Qualified Sources: Ensure you’re looking for vendors and applications from reputable industry sources. • Standard Due Diligence: Audit procedures should follow your institution’s established policies. • Adequate Testing Phase: Deploy a testing phase to ensure how your institution’s data is accessed and used through the vendor’s apps. • Security, Audits and Reporting: Verify the vendor uses secure methods to access and store your institution’s data, especially consumer-related data. Understand what they offer in terms of audit support and reporting capabilities. Sharing Data in the Digital Era When it comes to Rule 1033, your bank has a choice to make. Will you simply implement measures to ensure compliance once required and deliver data upon request? Or will you embrace open banking to better serve current and prospective customers? Developing the right open banking strategy for your institution can provide long-term benefits for your bank. 8 NEBRASKA INDEPENDENT BANKER
800.228.2581 MHM.INC Now more than ever people want self-service options. With our core integrated ITMs we can make this a reality both in the lobby and in the drive-up of your branch. SELF-SERVICE BANKING We Want to Feature You in Our Next Issue of The Nebraska Independent Banker! The Banker Showcase shines a light on those employees that make a difference. To be featured, please email Dexter at dexter@nicbonline.com. NEBRASKA INDEPENDENT BANKER 9
Is your community bank bond portfolio performing? Meet Jim. Jim meets with community bankers across the U.S. to discuss ICBA Securities’ investment products, services, and education through our exclusively endorsed broker, Stifel. Investing through Stifel is a direct investment back into the community banking industry. When Jim is on the road, he always takes time to enjoy local restaurants and share on social media. As an ICBA member, you’ve got Jim’s help investing. Learn more at icba.org/securities Member FINRA/SIPC
EASING INTO THE FALL At Long Last, Some Rate Relief By Jim Reber, President and CEO, ICBA Securities I don’t know about you, but I’ve always looked forward to the early days of autumn. I’m of a certain vintage that remembers when September and October ushered in a break from summer heat (which seems to be later in the calendar these days), and there was a certain excitement around the back-to-school activities. Football fans eagerly await gridiron season which is now in full swing, and baseball playoffs make their return. And this for 2024: rate cuts by the Fed! It’s been a while, but the tightening cycle that started in early 2022 has finally run its course. It appears the price stability mandate has been met sufficiently for the focus to turn to maximum employment. The rate cut in September marks the first time in 4.5 years that the target rate of fed funds has dropped. This adds still more anticipation for an exciting fall. Is Your Bank Ready? But maybe we’re getting ahead of ourselves. Let’s first take stock of where most depositories stand as the fourth quarter of 2024 begins. Earnings will not be a record for the community banking industry this year, as margin pressure has taken the froth off bottom lines. Some positives are that credit quality remains outstanding despite some headline warnings. A lot of the consumer/auto/credit card delinquencies, which are on the rise, seem more to be problems for non-banks. The fear of commercial real estate’s market breakdown hasn’t happened yet either. Another piece of the earnings puzzle is interest rate risk. Community bankers have told me on many occasions since 2022 they’ve had to get current, informed and creative about managing their liabilities, which they admit had been on autopilot for years. Suddenly at the same time the Fed was hiking at its fastest pace in over 40 years, depositors were demanding higher rates, or even worse, moving to non-bank alternatives. Collectively, the industry shifted from being very asset sensitive to about neutral between 2020 and today. What’s Next? So earnings are, well, meh, but delinquencies are still very low, and we think rate risk is under control. What to do about all this? If the bond market and the Fed are to be believed, and NEBRASKA INDEPENDENT BANKER 11
I’m looking forward to the return of a number of fourth-quarter traditions in 2024: sweatshirts, football, leaves, crisp air and an interest rate environment that supports the community banking model. I’m not saying they are, we will finally see the interest rate curve assume a positive slope. And that’s when the fun should really kick in. But (there’s always a “but” in these columns) be warned: Multiple rate cuts, and a normal yield curve, will probably have less upside this time around for community banks, at least initially. In a “bull steepener,” which is what we’re likely to experience, short rates fall, and longer rates fall less or longer rates rise. Either way, since most community banks’ portfolio’s effective durations are longer than normal, the price appreciation of your current bonds may not be what you’re hoping for. (To put some numbers on it, a typical bank’s duration is now about 4.3 years, versus about 2.5 years back in 2020 according to Stifel.) Things Looking Up In spite of the buzzkill of the previous section, a community bank’s universe just performs better when short rates are below long ones. Regardless of which part of the balance sheet you’re responsible for, it’s easier to price in relative risk/reward. For well over a year, the highest-yielding bank-suitable bonds have been CMO (collateralized mortgage obligation) monthly floaters. That’s fun for a while, but that’s not how financial instruments are supposed to work longer-term. Lower risk (i.e., lower duration) is supposed to produce lower yields. I also suspect that “betas” for community bank deposits will be friendly into 2025. Interest rate models weren’t built for 2022-23, in which overnight rates spiked 525 basis points (5.25%) in just 16 months. The initial bulge in net interest margins (NIMs) started to shrink early in 2023, and are now about where they were before the tightening cycle began. From conversations I’ve had with community bankers, anecdotally and otherwise, cost of funds should begin to retreat. Deposit managers have demonstrated their ability to manage NIMs through plenty of rate cycles, and rate shocks, and I see no reason to doubt their capabilities now. The big picture is the industry has held up remarkably well through a generation-high interest rate environment, that resulted from Fed tightening activity, and inflation, that most of today’s community bankers have never managed through. I’m looking forward to the return of a number of fourth-quarter traditions in 2024: sweatshirts, football, leaves, crisp air and an interest rate environment that supports the community banking model. 12 NEBRASKA INDEPENDENT BANKER
BOK Financial® and We go above. So you can go beyond.® are trademarks of BOKF, NA. Member FDIC. Bank dealer services offered through BOK Financial Capital Markets, which operates as a separately identifiable department of BOKF, NA. BOKF, NA is the bank subsidiary of BOK Financial Corporation. Investment products are: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE We go above. So you can go beyond. Seeking a fresh perspective on your interest rate risk and balance sheet management? As a community banker, your time is valuable. With mounting margin pressures, maximizing earnings from your investment portfolio is crucial. Our unique approach integrates portfolio management within the overall interest rate risk position, optimizing balance sheet performance. At BOK Financial Capital Markets, we help you navigate regulatory requirements with a comprehensive, cost-efficient, tailored solution to enhance your institution’s performance by engaging your management team to formulate ideas and execute strategies that drive results. Budgeting Profit projections ALCO Capital planning Decay/beta analysis Regulatory compliance Investment portfolio Investment mix Interest rate risk Loan pricing Board education Liquidity stress testing Brokered funding SCAN TO LEARN MORE OR VISIT BOKFINANCIAL.COM/INSTITUTIONS
THREE STAGES TO UNLOCK A PEOPLE-FIRST WORK CULTURE By Katie Barnes, Chief People Officer, BHG Financial We all know how hard it is to attract and retain top talent in the competitive community bank market. As a chief people officer, I have seen the value of creating and maintaining an agile, people-first work culture. Its daily contribution to operational effectiveness is enormous, serving as a stabilizing and steady force even in the face of external obstacles. In this article, we will share industry best practices and discuss specific ways that banks can build an agile, people-first culture that gives their organization a competitive edge. The High Cost of Employee Dissatisfaction The cost of overlooking employee engagement and turnover can be significant. According to Gallup, the cost of replacing a disengaged individual employee can range from one-half to two times the employee’s annual salary.1 Meanwhile, companies with the most engaged employees were 22% more profitable than those with the least.2 Signs of “disengagement” are as you might expect. They can include a slow working tempo, lack of interest in work, being easily distracted and minimal output. Additionally, disengaged employees often possess negative attitudes about their work and organization, which can hurt the productivity and morale of your other employees — not to mention your bottom line. Three Stages of Culture Development To avoid the cost and hassle of recruiting new talent while maintaining an excellent relationship with your current employees, consider these three key points to create an agile, people-first company culture: Know Your Purpose, Know Your People and Build Your Culture. Know Your Purpose Define your bank’s culture so that it becomes your “North Star.” Start by establishing new core values or refreshing existing ones. Conduct a thorough analysis to identify what values you want your employees to demonstrate within the context of what is most important to your bank and to your community. This approach can provide your team with a specific direction in which to anchor expectations and an actionable roadmap for employee behaviors. It is also important to recognize and acknowledge appropriate behaviors. It will help reinforce and speed up the adoption of the culture you hope to build. Establishing a system of core values also helps serve as a guideline 14 NEBRASKA INDEPENDENT BANKER
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for the type of individual you want to hire and who you want to promote. Know Your People The needs of employees constantly evolve, especially during major macroeconomic events such as a recession or the recent pandemic. There are easy ways to regularly gauge your employees’ moods and attitudes. For example, a comprehensive semiannual employee survey can provide feedback about what is working, what is not and what can be done better. This information can help ensure your culture is embraced and allows you to quickly address any unfavorable trends that may emerge. Taking the time to build relationships with your employees and getting to know them on a personal level can also yield beneficial cultural impacts. Authentic connections between individual contributors and their senior leaders can forge a powerful “in it together” perspective that fuels employee satisfaction and spirit. Employees who feel respected, heard and seen can become personal ambassadors of your bank’s culture within your institution and community. Build Your Culture Culture can grow organically, but it requires action to blossom. Offering programs, perks and experiences that matter to your employees is an essential component of successful engagement. There is no shortage of options, even if your budget and resources are limited. All it takes is a bit of research, a little creativity and some thoughtful planning. To help demonstrate specific examples of “taking action,” here are several recent programs and initiatives that BHG Financial has introduced to enhance its work culture. These examples are just for illustration and to spark your own imagination. However, it is worth noting that the development of these programs was informed in many cases by our employees’ feedback in surveys and other engagements — reinforcing the value of “knowing your people.” Recent BHG Financial programs: • Transitioned to a permanent hybrid workforce with employees across the country. • Launched BHG Pulse, a program focused on the physical, emotional, social, financial and occupational well-being of our employees. • Introduced Wellness Weekends. All employees get one Friday off each month to refresh and recharge. It has quickly become our team’s favorite benefit while maintaining and enhancing productivity. • Created “Women in Tech,” our first Employee Resource Group, which provides training, connections and support to women within the tech industry. • Introduced BHG Together, a diversity, equity and inclusion program that provides monthly support, celebration and training. • Offered BHG LEAD, which provides employees with actionable steps they can take to become better leaders and grow their BHG careers. Concluding Thoughts Building your institution’s culture takes time. There may be highs and lows, but if you prioritize listening to and engaging within your team, you will persevere. We call this principle “Winning Together,” acting as one team by respecting, encouraging and valuing each other’s contributions. It has allowed BHG to create an award-winning culture and achieve continued growth. We believe it can be an equally successful core value for you and your bank’s employees as well. Katie Barnes is the chief people officer at BHG Financial, a leading provider of financial solutions for professionals, businesses and banks. In her role, she oversees the strategy and direction of BHG’s People Development (PD) department, leading various programs such as Talent Acquisition, Talent Management, Employee Experience and Compensation. Sources 1. https://www.gallup.com/workplace/247391/fixable-problem-costs-businesses-trillion.aspx. 2. https://www.wellable.co/blog/employee-engagement-statistics-you-should-know/#:~:text=Companies%20with%20a%20highly%20 engaged,have%20higher%20customer%20retention%20rates. 16 NEBRASKA INDEPENDENT BANKER
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SIX STRATEGIES TO BOOST DEPOSITS By Matt Helsing, SVP & Northwest Regional Manager, PCBB Community banks have been looking for the perfect recipe to attract deposits in a market in which consumers and commercial customers continue to switch institutions in search of better rates. Over the past few years, high interest rates combined with bank failures and accompanying wariness have driven customers to seek better returns on their investments. Despite many financial institutions raising the rates on their deposits to attract and retain customers, deposit rates have been slow to catch up with yields on alternative investments, such as certificates of deposit (CDs) and money market funds. In April 2023, $1.1 trillion in deposits left U.S. financial institutions. Since then, deposits have started to climb slowly and are set to grow in the second half of 2024. In this climate, growing NEBRASKA INDEPENDENT BANKER 19
Growing deposits in a competitive and ever‑changing market requires a blend of innovative technology, customer‑focused strategies and personalized support. healthy deposits has become the number one business challenge for bankers, according to BAI’s 2024 Banking Outlook. The strategies to do so vary depending on the type of deposit growth you are seeking. While rates and fees associated with deposits matter greatly, other strategies become key to driving growth once rates are within an acceptable range. We explore three key strategies for both consumer and business deposit growth that have proven successful. Strategies to Attract Consumer Deposits 1. Maximize the use of technology. A good online and mobile offering allows banks to increase their reach to audiences across the country. Moreover, coupled with a personal touch, it is a critical part of a slick customer service offering. Veritex, a Texas-based bank with $12.1 billion in assets, invested in technology to streamline its account opening process. They credit the new technology — and the extensive employee training program that went with it — for the $135 million spike in deposits in the first 90 days after launch. 2. Offer reward checking accounts. For many institutions, reward checking accounts have proven effective in boosting long-term deposits by 4%. Essentially, reward checking offers a high return, around 6%, on a portion of the deposit — perhaps the first $20,000 — in exchange for a minimum level of engagement, such as card usage, online banking usage and so on. Lower engagement leads to a lower rate, with the interest rate dropping on deposits over the initial $20,000. Overall, the 6% peak rate is appealing to customers. What’s more, due to the nature of the product, customers are engaged and interact regularly with the institution, making them more likely to stay. 3. Consider promotions and offers. Many financial institutions are now offering free gifts to attract new deposits. Consultants say this can boost new account openings by more than 15%. Other institutions are foregoing the physical gift in favor of a cash bonus, the value of which is often linked to the amount deposited. However, whatever promotions and offers a bank might adopt to woo customers, excellent customer service is key to retaining them. Strategies to Attract Commercial Deposits 1. Explore niche markets. Expand your institution’s reach into niche markets to attract more commercial deposit customers and offer specialized services for those markets. For example, property management businesses could benefit from disbursement services and property management software integration. Homeowners Associations could use automated 20 NEBRASKA INDEPENDENT BANKER
SOCIAL ENGINEERING NETWORK MONITORING BY COMMUNITY BANKERS FORCOMMUNITY BANKS CivITas Bank Solutions was born from the needs voiced by community banks for affordable real-world technology and information security solutions. Anne Benigsen President David Philippi VP - Business Development Chris Tuzeneu VP – Information Security PENETRATION TESTING VULNERABILITY SCANS info@acivitas.com www.acivitas.com dues collection and detailed financial reporting tools. Healthcare providers could use secure patient billing and payment processing systems. 2. Institute conditional or incentivized deposit programs. Implement policies that require businesses to maintain deposit accounts, including their primary operating account, as a condition for securing a loan. This not only enhances liquidity, but also fosters a deeper relationship with those commercial business customers. Another option is incentivized deposit programs that may include bundled services to offer fee reduction perks or a limited-time deal on an earnings credit rate (ECR), for example. 3. Increase operating account support. Encourage business customers to grow their deposit accounts by providing services, tools and personalized support. Offering cash management services can help businesses manage their cash flow, forecast expenses and plan for growth. Assign dedicated relationship managers to provide personalized support and help businesses optimize their financial strategies. Growing deposits in a competitive and ever-changing market requires a blend of innovative technology, customer-focused strategies and personalized support. By implementing multiple strategies, community banks can effectively attract and retain both consumer and commercial deposits. To continue this discussion or for more information, please contact Matt Helsing at pcbb.com or email mhelsing@pcbb.com. Dedicated to serving the needs of community banks, PCBB’s comprehensive and robust set of solutions includes cash management services such as Settlement and Liquidity for the FedNow® Service, international services, lending solutions and risk management advisory services. NEBRASKA INDEPENDENT BANKER 21
NICB ENDORSED PARTNERS • Bankers Compliance Consulting — Dave Dickenson • Barret Graduate School of Banking — Memphis, Tennessee • Community Bankers Webinar Network — Financial Ed • Dell Computers • ICBA Securities — Jim Reber • ICBA Bancard • NICB-CBAK Liquidity Program • SHAZAM — presented last year at Area Meetings • Spectrum Financial — Fee Income with Credit Insurance Products/Services, Identity Theft Program, Flood Determinations — Scott Votava • Travelers Insurance • UNICO Group — Diana Poquette • The Advantage Network • BancMac • Bankers’ Bank of the West • Bankers Compliance Consulting • Bankers Healthcare Group • Barret Graduate School of Banking • Bell Banks • BKD LLP • John E. Cederberg, CPA • Central States Health & Life Co. • CivITas Bank Solutions • Computer Services Inc. (CSI) • Cross Financial • D.A. Davidson & Co. • FIPCO — Compliance • Federal Reserve Bank of K.C. (complimentary) • FHLBank Topeka • FNB Omaha Correspondent Banking • FIPCO • First National Capital Markets • FPS Gold (Core) • ICBA Bancard & TCM Bank • ICBA Securities • ICBA • ITPAC Consulting LLC (IT audits) • Kirk Gross Company • Labenz & Assoc. LLC (CPAs) • Maple Street Inc. • Midwest Independent BankersBank • Modern Banking Systems • Money Handling Machines Inc. • NFP Executive Benefits • Perry, Guthery, Haase & Gessford PC LLO • Purple Wave Auction • QwickRate • RESULTS Technology • Scantron Technology Solutions • SHAZAM • Spectrum Financial • Taylor and Martin Appraisal Services • Travelers Companies Inc. • UMB Bank N.A. • UNICO Group • United Bankers’ Bank ASSOCIATE MEMBERS 2024 22 NEBRASKA INDEPENDENT BANKER 100 South Phillips Avenue, Sioux Falls (605) 335-5112 advantage-network.com THE TEAM WITH 150+ YEARS’ EXPERIENCE Here at The Advantage Network, our team has more than 150 years of combined banking experience.That means we have the expertise and industry know-how to help financial institutions like yours with debit card services, card production, marketing support, ATM services, fraud monitoring, and everything in between. From conversion onto the Network to daily operations, we’ll be there every step of the way. Scan the QR code to learn more, or give us a call and let’s start a conversation!
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