Pub 12 2023 Issue 1

OF F I C I AL PUB L I CAT ION OF K ANSAS BANKE RS ASSOC I AT ION NEW FACES at KBA MESSAGE FROM KBA PRESIDENT & CEO Photo credit: Kevin Fruechting, Tampa State Bank, Marion JANUARY/F E BRUARY I SSUE 1 2023

forvis.com/financial-services A S S U R A N C E / T A X / A D V I S O R Y FOR unmatched industry insight, VISion matters FORVIS is a trademark of FORVIS, LLP, registration of which is pending with the U.S. Patent and Trademark Office. FORward VISion counts We applaud that the dreams you finance begin with a vision of making a positive impact in the communities you serve. Our vision is helping make yours a reality. Whether you’re looking to stay compliant, manage risk, or grow strategically, our forward-thinking professionals can help you prepare for what’s next. FORVIS—created by the merger of equals between BKD and DHG—has the enhanced capabilities of an expanded national platform and deepened industry intelligence to help your bank better navigate the financial services landscape and capitalize on your vision with interest.

Executive DougWareham, President and CEO Kathy Taylor, EVP, General Counsel Terri D. Thomas, EVP, COO Administration AlexOrel, SVP, Government Relations Eric Stofer, SVP, Chief Financial Officer Mary Taylor, SVP, Director of Communications &Marketing Julie Taylor, VP, Computer and Information Systems Sara Blubaugh, VP, Executive Assistant to the President and CEO Tommy Powell, KBEF/Robbins Banking Institute Director BreeMagee, Communications &MarketingManager, YBOK DivisionManager Education and Conferences Brenda L. Unruh, SVP, Director, Education &Conferences/ Strategic Partnerships BeckyMilne, VP, Assistant Director Education &Conferences LeAnnMott, AVP, Education &Conferences NatalieWareham, Events Manager J.W. Wells, Ag & Trust DivisionManager Alana Seelbach, Receptionist/Special Projects Insurance Alex Greig, President, KBA Insurance, Inc. Kent Owens, SVP, KBA Insurance, Inc. Elizabeth Roche, SVP, Employee Benefits Administration Jenny Figge, VP, Operations Cari Charter, AVP, KBA Insurance, Inc. Cole Thompson, Accounts Manager Legal/Compliance Jackie Kuhn, JD, VP, Staff Attorney Gwen Hill, JD, VP, Staff Attorney Allison Carpenter, JD, VP, Legal Dept. Manager Dylan Serrault, JD, VP, CFBSManager Bobby Young, JD, VP, Staff Attorney Adeel Syed, JD, AVP, Staff Attorney Neal Barclay, AVP, Compliance Specialist/Auditor Jeff Narron, AVP, Compliance Specialist/Auditor Kelly VanZwoll, JD, AVP, Staff Attorney &Gov’t Relations Kerry Clark, JD, Staff Attorney & Publications Editor LewisWalton, JD, Compliance Specialist/Auditor Erica Friedt, ComplianceOperations Specialist Nathan Stumme, ComplianceOperations Specialist HeatherWilliams, ComplianceOperations Specialist/Auditor Meridith DeForest, Administrative Legal Assistant Sarah Lynch-Chaput, Legal Intern GabeWalker, Legal Intern Miaeda Hutchinson, Legal Intern Tom Thomsen, Legal Intern © 2023 Kansas Bankers Association | The newsLINK Group, LLC. All rights reserved. The Kansas Banker is published six times each year by The newsLINK Group, LLC for the KBA and is the official publication for this association. The information contained in this publication is intended toprovide 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 Kansas Bankers Association, 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 Kansas Banker is a collective work, and as such, some articles are submittedbyauthorswhoare independent of theKansas Bankers Association.While the TheKansas Banker encourages afirst-print policy, in caseswhere this is not possible, every effort has beenmade to complywithanyknownreprint guidelinesor restrictions.Contentmaynot bereproducedor reprintedwithout priorwrittenpermission. For further information, pleasecontact thepublisherat855.747.4003. 6 President’s Message Priority #1 – Stick Together By Doug Wareham, KBA President & CEO 8 Bankers Partner With KHRC to Strengthen Communities By Emily Sharp, Kansas Housing Resources Corporation 10 2023 BLOK Class Announcement 12 Washington Update Beating Back a Bad Idea: How Bankers United to Play Defense Against Durbin Expansion By Rob Nichols, President & CEO, American Bankers Association 16 3 Insights to Effective & Meaningful Training for Gen Z in Banking By BankWebinars 18 Insurance to Value (ITV): What You Need to Know in This Inflationary Climate By Betsy Good, Vice President of Collateral Lines, Intact Financial Services 20 Briefly in Kansas Banking 22 In Memory 24 KBA News New Faces at KBA Lynn Mills Reaches Two Milestones 26 Kansas Ag Bankers Invest In Wheat Research By Tammy McClellan, Manager of Donor Relations, Kansas Wheat Commission Research Foundation 28 Education Calendar 30 The Courtship of Banking & Fintec By Katie Harrison, J.D., CRCM, FORVIS 33 Photo Contest 34 ALM in 2023: Revisiting Economic Value of Equity (EVE) By Jeffrey F. Caughron, The Baker Group LP 36 What Banks Need to Know About CIS Controls By Mike Gilmore, RESULTS Technology 34 18 16

Bond School Schedule Wednesday, May 10 7:00 a.m. Breakfast 8:00 a.m. Program 12:00 p.m. Lunch 1:00 p.m. Program 4:30 p.m. Adjourn 6:00 p.m. Dinner Included Thursday, May 11 7:00 a.m. Breakfast 8:00 a.m. Program 12:00 p.m. Conclusion Accommodations A block of rooms will be available at the Omni Oklahoma City Hotel. Identify yourself as a Baker Bond School attendee when calling 405.438.6500. The special room rate will be available until April 10, 2023. Hotel price: Deluxe $199 + tax. 12.5 hours of CPE credits will be earned for your attendance. Register online at GoBaker.com/Bond-Schoolfor-Banks. Call Skoshi Heron at 888.990.0010 for more information. MAY May 10-11, 2023 Oklahoma City, OK Omni Oklahoma City Hotel Cost: $495 Education is the foundation of performance for investment portfolio managers, and that is why The Baker Group has presented hundreds of seminars and conferences across the country over the last forty years. We continue to bring that history of educational experience to a bond school designed specifically for new portfolio managers and those needing to learn the fundamentals of fixed income investing. The Baker Bond School will give attendees the knowledge to better understand the various types of securities available, how to analyze them effectively, and how to use that knowledge to build and manage a high-performance investment portfolio within the framework of the entire balance sheet. What You Will Learn • Fundamentals of bonds and bond market investing • Understanding the impact of the economy, monetary policy, and interest rates on the bond portfolio • Demystifying the complex world of bond analytics including pricing, duration, convexity, and total return • Characteristics of high performance portfolios and how industry allocations have changed over the years • Introduction to bond types, and the pros and cons of including each in your investment portfolio • How to develop an effective municipal credit analysis process • Security selection techniques, and how to conduct effective prepurchase analysis • How to analyze bond offerings and Bloomberg screens • Regulatory implications for the bond portfolio • Incorporating investment portfolio management into asset/ liability management Who Should Attend This school is designed for CEOs, CFOs, and those new to their roles in managing or working with the investment portfolio. Directors and new members of the investment and asset/liability management committees will also benefit from the Baker Bond School. Member: FINRA and SIPC www.GoBaker.com | 800.937.2257 Oklahoma City, OK | Austin, TX | Dallas, TX | Houston, TX Indianapolis, IN | Long Island, NY | Salt Lake City, UT | Springfield, IL Baker Bond School

As 2023 hits full stride, I think it’s important to reflect on a very important prior year policy victory that reminded us how effective our industry can be in thwarting harmful federal legislation if we simply stick together. Legislation proposed by the Merchants Payment Coalition (MPC), which is funded largely by the deep pockets of mega-retailers including Amazon, Walmart and Home Depot, to name a few, would have financially harmed banks, weakened credit card payment security and decimated rewards programs for credit card consumers. The falsely named Credit Card Competition Act (Durbin 2.0) was a bad idea, a REALLY BAD IDEA. Unfortunately, when bad ideas are funded by very deep pockets, they can sometimes get traction, as our industry experienced in 2010 when the original Durbin Amendment was successfully added by merchants to the Dodd-Frank Act. In 2010, merchants capitalized on the aftermath of the 2008 financial crisis and their close relationship with Senator Dick Durbin, the second-highest-ranking member of the Senate Democratic Caucus since 2005. In 2010, it was a classic case of leadership (in this case Sen. Durbin) taking advantage of a crisis or at least a perceived crisis. That same “leadership meets crisis” strategy was deployed late in 2022, with merchants and Senator Durbin once again teaming up to pass one-sided legislation that would have proven to be another financial windfall for big box retailers. PRESIDENT’S MESSAGE By Doug Wareham KBA President & CEO PRIORITY #1 – Stick Together A While the merchant coalition’s strategy was virtually identical during their push late last year for Durbin 2.0, there was one very key difference that I believe won the day for banks and their credit card customers. The difference was our industry, the banking industry, sticking together. Senator Durbin and the MPC took advantage of cracks and outright division on policies being bundled together for the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. This time, when the MPC attempted to amend Durbin 2.0 into the National Defense Reauthorization Act, opposition from the banking industry remained united. When the MPC then tried to garner support for adding their credit card dual routing government mandate to the $1.7 trillion 2023 omnibus spending package just before Christmas, opposition from the banking industry remained united. In both cases, a united banking industry won the day. The coming year will undoubtedly bring its own set of challenges for our industry. Senator Dick Durbin remains the Senate Majority Whip, so the MPC will want to capitalize on those close ties once again. While we can’t control what others do, we can significantly increase our odds of curtailing any harmful legislation considered in the Halls of Congress this year by simply sticking together as an industry. For additional insight into the Credit Care Competition Act, please go to page 12. There you will find an article written by Rob Nichols, President and CEO of the American Bankers Association. I would be remiss if I didn’t share that team ABA deserves high praise for their leadership and defense of the banking industry on this issue. 6

May 10 –12 - Sheraton Overland Park Hotel & Convention Center 6100 College Blvd, Overland Park, KS 66211 For more details and registration information, please visit our website at mokantrustconf.com For more information, please contact: LeAnn Mott, Assistant Vice President Education & Conferences | Kansas Bankers Association Phone: 785.232.3444 | lmott@ksbankers.com Larry Divers Executive Vice President Cannon Financial Jeffrey Levine, CPA/PFS, CFP®, CWS®, MSA Director of Advisor Education Kitces.com Samuel A Donaldson J.D. University of Arizona; LL.M. Dan Meers KC Wolf MOKAN 44TH ANNUAL TRUST & FINA CIAL SERVICES CONFERENCE Agenda coming soon!

By Emily Sharp, Kansas Housing Resources Corporation Bankers Partner With KHRC to Strengthen Communities Do you remember in grade school how the dot-to-dot pictures magically formed on the page? Seemingly unrelated dots connected to reveal a picture. As the state’s housing finance agency, we at Kansas Housing Resources Corporation (KHRC) often describe ourselves as “dot connectors.” We don’t provide housing directly to Kansans; instead, we connect communities to the right service providers, partners, and resources they need to secure quality, affordable housing. This essential behind-the-scenes work includes awarding tax credits to incentivize the development of affordable housing; administering our state’s Section 8 contract to ensure affordable housing is decent, safe, and sanitary; providing down payment assistance so Kansans can realize the dream of homeownership; and so much more. Banks and lending institutions play a crucial role in this collaboration, serving as financing partners, advocating the importance of stable, quality housing for a healthy economy, and being a wealth-building opportunity for families and communities. The 2022 legislative session brought a historic state investment in housing, due in part to the advocacy of the KBA who made the case for housing to our leaders in the Statehouse. Whether you’re a small community bank or a branch of a regional institution, there are a number of ways to partner in expanding housing opportunities and strengthening communities across the state. Housing Development Programs Our Housing Development programs provide opportunities for lenders to grant loans and buy tax credits to create or rehabilitate quality, affordable homes across the state. • Low Income Housing Tax Credit (LIHTC): The LIHTC encourages investment of private capital in the development of rental housing by providing credits to offset an investor’s federal income tax liability. Financial institutions, such as banks, insurance companies, and government-sponsored enterprises, make equity investments in exchange for receiving tax credits. Equity from the sale of tax credits reduces the amount of debt financing the property owner incurs. This process reduces the property’s monthly debt service, lowers the operating costs, and makes it economically feasible to develop affordable housing. KHRC administers the state’s federal tax credits as well as a state tax credit established by the Kansas Legislature in 2022. LIHTCs are often paired with HOME Rental Development and National Housing Trust Fund resources to target underserved communities in need. • Moderate Income Housing (MIH): The state’s flagship housing program, MIH, serves Kansans who earn too much to qualify for federal housing assistance but may struggle to afford market-rate housing. Established in 2012 with an annual allocation of $2 million, MIH grants and/or loans are awarded to cities and counties to develop multi-family rental units and single-family, for-purchase homes in communities with populations of fewer than 60,000 people. In 2022, the program experienced a significant influx of resources with an additional $60 million allocated from the State General Fund and ARPA funds as well as a newly established Rural Housing Revolving Loan Program. • Kansas Housing Investor Tax Credit (KHITC): Also in 2022, Statehouse leaders established a new credit for qualified investors who make cash investments in qualified housing developments in counties with up to 75,000 residents. Homeownership Opportunities Purchasing a home is often the most important investment a Kansan will make, and one of the most effective ways families can build wealth and prosperity. KHRC offers two programs designed to bring the dream of homeownership to more Kansans: • Home Loan Guarantee for Rural Kansas (HLG): Also established by the Kansas Legislature in 2022, the HLG program evens the playing field for Kansans seeking to purchase or rehabilitate a home in rural counties. For many rural home buyers, the cost of purchasing or renovating a home often exceeds the home’s appraised value due to a lack of comparable properties in the D 8

area. HLG helps financial institutions guarantee the gap under a loan used for land and building purchases, renovation, and new construction costs capitalized or financed within Kansas counties that have a population of less than 10,000. HLG guarantees the amount of the loan that exceeds 80% of the appraised value of the home, up to 125% of the appraised value of the home subject to the loan. Each guaranteed amount shall not exceed $100,000. Financial institutions that serve rural homebuyers request loan guarantee funds from KHRC. Eligible institutions include banks, trust companies, savings banks, credit unions, savings and loan associations, or any other lending institution. • First Time Homebuyer Program (FTHB): KHRC helps enable the dream of homeownership by offering first-time buyers assistance with down payments and closing costs. KHRC collaborates with a network of participating lenders across the state, allowing homebuyers to apply for a 0% interest loan in the amount of 15% or 20% of the home’s purchase price. If the homebuyer remains in the home for 10 years, the loan is forgiven! The federally funded program serves Kansans who have a median income at or below 80% of their area. Homebuyers must make an investment of 2% but no more than 10% of the sale price from their own funds. The program serves Kansans across the state with the exception of those in Johnson County, Kansas City, Lawrence, Topeka, and Wichita. These areas administer their own federal funds, which may or may not be used for homebuyer assistance. Bankers and lenders also played a crucial role in providing pandemic relief to homeowners in financial distress. The Kansas Homeowner Assistance Fund (KHAF) helps qualifying Kansans get current on their mortgages and property taxes and avoid foreclosure, providing assistance with mortgage reinstatement, mortgage payments, property taxes and charges, and utility and internet/broadband services. Assistance is paid directly to lenders, mortgage servicers, and service providers, who apply the funds to the homeowner’s account. Launched in April 2022, the program has expended nearly all available funds and is now in Final Funding, the first of three closure phases. In less than a year, this crucial partnership with financial institutions has already provided nearly $37 million to 3400 Kansas families. Housing intersects so many aspects of our society, from jobs to families and education to health care. KHRC relishes our role in connecting those dots, but lenders are integral to the finished picture … Home. Will you join us? To find out more, please visit kshousingcorp.org. Purchasing a home is often the most important investment a Kansan will make, and one of the most effective ways families can build wealth and prosperity. Pub. 12 2023 Issue 1 9

2023 BLOK CLASS ANNOUNCEMENT Now in its seventeenth year, the Bank Leaders of Kansas (BLOK) Program is a leadership development program coordinated by the Kansas Bankers Association. The BLOK program is designed to improve the leadership skills of Kansas bankers and it accomplishes that goal through four primary objectives: •To increase the individual banker’s understanding and knowledge of the structure and governance of the KBA, including a complete overview of programs, services, and representation provided by the KBA •To improve the individual banker’s understanding of the state and federal legislative process and increase their willingness to actively support and defend the Kansas banking industry •To increase the individual banker’s understanding and awareness of the various state and federal agencies that govern the banking industry in Kansas and how those agencies interact with the KBA •To improve the individual banker’s leadership and communication skills through professional development and leadership training sessions and to provide a clear understanding of the individual banker’s role as a volunteer KBA leader This year’s class will include a wide range of banking industry talent from across the state. Twenty-one Kansas bankers will participate in four BLOK training sessions that will arm them with the knowledge and information needed to be credible and effective advocates for the Kansas banking industry. The first session is scheduled for Feb. 7-9 and will center on the 2023 Harold A. Stones Government Relations Conference in Topeka. 2023 BLOK Sponsors Bankers’ Bank of Kansas INTRUST Bank, N.A. KBA Insurance, Inc. Professional Bank Consultants, LLC 10

Amy Barber Trust Fiduciary & Compliance Manager Central National Bank, Topeka Crystal Boyer Treasury Banking Analyst First Interstate Bank, Shawnee Kelsey Burdiek Assistant Vice President United Bank & Trust, Seneca Jen Cocking Vice President, Assistant General Counsel Capitol Federal Savings Bank, Topeka Dena Flach Vice President/Loan Officer Stockgrowers State Bank, Maple Hill Alex Goodpaster Vice President, Commercial Lending Equity Bank, Overland Park Mike Hamilton Executive Vice President, Ag Banking Adams Bank & Trust, Colby Victoria Hamilton Officer & Financial Center Manager First National Bank of Hutchinson, Hutchinson Kristie Henry Controller Community National Bank, Seneca Dustin Hickel Managing Director Commercial Real Estate Lending INTRUST Bank, Prairie Village Brett Hubka Community Bank President GNBank, Clay Center Sarah Keeny Moon Accounting Analyst Citizens Bank of Kansas, Derby Carl Keith Regional President Solutions North Bank, Hill City Garet King Vice President Fusion Bank, Overland Park Matt Koupal SVP, Chief Legal and Ethics Officer Corporate Secretary FHLBank Topeka, Topeka James Leftwich Sales Representative Security 1st Title, LLC, Wichita Katrina Loader SVP Chief Retail Officer & BSA Officer Astra Bank, Abilene Rex Reynolds Executive Vice President Legacy Bank, Wichita Elizabeth Roche SVP, Employee Benefits Kansas Bankers Association, Topeka Justin Sparks EVP, Chief Credit Officer Bankers’ Bank of Kansas, Wichita Adeel Syed AVP, Staff Attorney Kansas Bankers Association, Topeka MEMBERS OF THE 2023 BLOK CLASS Pub. 12 2023 Issue 1 11

WASHINGTON UPDATE There’s a saying that “everything old is new again,” and that’s certainly an adage you can bank on in Washington, D.C. — especially when it comes to poor public policy proposals. A textbook example of this unfolded during the 117th Congress when our industry found itself once again facing a bad idea that we thought had been soundly defeated: placing restrictive routing mandates on credit cards, like those imposed on debit cards by the Durbin Amendment over a decade ago. The idea came in the form of a bipartisan bill — the so-called Credit Card Competition Act — introduced in the Senate by Sens. Dick Durbin (D-IL) and Roger Marshall (R-KS) and in the House by Reps. Peter Welch (D-VT) and Lance Gooden (R-TX). Bankers know all too well that the 2010 Durbin Amendment had disastrous consequences for banks and their customers: it increased the costs of checking accounts and debit cards and ultimately led to the elimination of popular debit card rewards programs. The Durbin Amendment’s most damaging provisions apply to banks of all sizes, causing a nearly 25% cut in the pertransaction debit card revenue earned by banks with under $10 billion in assets. At the same time, it helped line the pockets of large retailers who talked a big game about passing savings on to consumers — but 10 years’ worth of data tells us that simply isn’t what happened. In fact, the Federal Reserve published a study finding that only 1% of merchants lowered prices for consumers since the Durbin price controls took effect. What’s more, the Credit Card Competition Act also goes several steps further than the Durbin amendment — not only would it require banks to add a second network to their customers’ cards, but it would limit them to options set by the Fed, unlike the Durbin Amendment, which allowed banks to choose between any two unaffiliated networks. The Credit Card Competition Act also requires banks to accept virtually any kind of transaction — functionally requiring them to onboard potentially many more than two networks, even networks that don’t meet basic data security standards. Given the potentially catastrophic effect the bill could have on community banks and bank customers — while providing no tangible cost savings or benefits for consumers — the industry sprang into action to set the record straight. Immediately following the bill’s introduction, ABA led a coalition of eight national financial services trade groups in issuing a statement of strong opposition to the bill. We then followed this up with numerous letters, op-eds, grassroots calls to action and co-branded ads with the Texas and Kansas bankers associations that ran in their respective districts. The efforts were amplified by an op-ed from the Florida Bankers Association and a creative “Don’t Let Congress Steal Your Credit Card Rewards!” social media campaign from the Missouri Bankers Association. In early Dec., we then expanded that effort into an all-out media blitz to stave off any T By Rob Nichols, President & CEO American Bankers Association BEATING BACK A BAD IDEA: How Bankers United to Play Defense Against Durbin Expansion 12

last-minute efforts to attach the bill to a must-pass piece of year-end legislation. Every step of the way, our efforts at the national level were complemented by robust advocacy efforts by our partners at the state bankers associations, who stepped up to make calls, attend Washington fly-ins, pen letters and columns, and even appear on national TV to address our concerns about the bill. Together, we blanketed Capitol Hill with a succinct, united message: the Credit Card Competition Act is terrible public policy that should not be enacted. Our combined efforts proved the hollowness of this bill — it failed to attract a single cosponsor beyond the initial two in both the House and Senate or gain enough support to advance as a standalone measure. It was successfully blocked from any other bills moving through Congress as the lame-duck session came to a close. This win underscores the tremendous value of our state association alliance and demonstrates the power that our industry can have when we unite behind one message. It’s also an important reminder about vigilance. We can’t say for certain whether and how these bad ideas will rear their heads again in Congresses to come. But what we can say is that if they do, our industry will be ready to respond. Email Rob at nichols@aba.com. Mortgage Investment Services Corporation 22316 Midland Drive • Shawnee, KS • 66226 • 913-390-1010 NMLS# 194708 • A Kansas licensed mortgage company #MC 0001182 Missouri Residential Mortgage Loan Broker Licence # 10-1912 Oklahome Mortgage Broker #MB001953 Colorado License #100044344 Nebraska Licensed Mortgage Company NMLS#194708 20+ Years! Depend On Us! For 20 years, community banks in the Midwest have depended on MISC’s expert mortgage services for their customers. • Free Loan Officer Training & Webinars • Offer all secondary market loan programs: VA, FHA, USDA/RD, Conventional & Jumbo • Earn more fee income with less risk Call or email today. Let’s discuss how MISC can help you! Joan Emas, Account Executive Andrew Holtgraves, Vice President Cell: 816-810-8878 Cell: 913-558-2555 Email: Joan@MISCHomeLoans.com Email: Andrew@MISCHomeLoans.com NMLS: #276932 Associate Member This win underscores the tremendous value of our state association alliance and demonstrates the power that our industry can have when we unite behind one message. Pub. 12 2023 Issue 1 13

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About two years ago, a new generation entered the workforce: Generation Z (Gen Z). With a new generation comes a new way of training and communicating. One of the core roles an L&D department has is to help employees find their dream job and provide them opportunities to take their careers to the next level. Meeting the needs of a learner means you must have an understanding of how that individual learns and what is meaningful for them. Let’s take a deeper look into Gen Z and what makes them unique. Who is Gen Z? Gen Z includes anyone born after 1996. It’s estimated that Gen Z accounts for 61 million people in the U.S., which is more than Gen X and two-thirds the size of baby boomers. Many Gen Zers do not remember a time before smartphones and have no memory of 9/11, except in the classroom. Gen Z has grown up with more access to information and technology than any other generation. As a result, Gen Zers expect to find and have access to training materials the moment they need it, regardless of where they are. 3 INSIGHTS 3 Insights to Training Gen Z 1 – Video Gen Z has grown up with YouTube. They are accustomed to seeing complex ideas explained with supporting visuals and demonstrations. According to a study by Pearson, 59% of Gen Zers prefer to learn by watching YouTube videos and 55% say YouTube has contributed to their education, learning and/or personal development. Training that speaks to Gen Z must have video and/or visual components. Financial institutions can’t rely on YouTube for their regulatory compliance training. Therefore, it’s important they seek an education provider who also values and uses videos and engaging visual elements in their courses. 2 – Flexibility Generally speaking, Gen Z enjoys a higher level of self-guided education and autonomy. Providing choices and freedom in their subjects of study is key to driving motivation and selfconfidence. According to LinkedIn, 43% of Gen Z say they By BankWebinars A To Effective & Meaningful Training for Gen Z in Banking 16

prefer a fully self-directed and independent approach to learning. In the financial sector, there are courses that are legally mandated. However, there is room to provide opportunities for cross training. Providing them with access to a course catalog will equip them with information and insight on other training topics available to them. Another way to provide flexibility in training is providing a choice in the format. For example, one employee may prefer the traditional format of training while another would rather watch a video including infographics and animation. The content is the same, however, giving a choice in the format allows for the flexibility and the opportunity to provide training that Gen Z desires. 3 – Meaning Gen Zers are often asking themselves, “Where does this job fit into my life?” rather than asking, “Where do I fit into this company?” A study by Barnes and Noble College shows that Gen Z students refuse to be passive learners. They don’t want to sit through training and take notes. Rather, they want to be immersed in the training experience and fully engaged. They prefer to be hands-on, constant learners. Robert Half reports that 64% of Gen Z job seekers are looking for career growth job opportunities, not just a paycheck. Connecting a Gen Z employee to why they need to take training will gain their buy-in and connect them to the content. In addition, providing them opportunities for professional development will engage them in further advancing their career. In the end, each generation has its own set of characteristics which makes them unique. L&D departments have a unique opportunity to shift and expand their training and education programs to meet the needs of a diverse set of employees. Becoming familiar with generational learning styles, motivators and how they prefer to consume information is key to developing effective training programs. This article is brought to you by BankWebinars.com as an example of a topic discussed during their webinars. We enjoyed talking about Gen Z and hope to see you during one of our online training sessions. Robert Half reports that 64% of Gen Z job seekers are looking for career growth job opportunities, not just a paycheck. Pub. 12 2023 Issue 1 17

Going into a new year, inflation continues to be a key topic for individuals. But are your business customers keeping pace? Insurance to Value is not a new concept. Each year leading up to renewal, it’s one of the many items on an underwriter’s checklist — to update values for a business. Often, insurance customers suggest that values are fine as they are. However, in this current environment, that approach will likely result in underinsured property values and it’s more important than ever to have those values updated at renewal. Insurance to Value (or often referred to as ITV) isn’t the property value itself, but the cost to replace or repair if loss or damage occurs. Over the course of two years, costs have increased with prolonged timelines to repair or replace property. This is driven by several factors, including supply chain disruptions and labor shortages contributing to delays, as well as inflation driving up the cost of materials and services. The combined impact of these factors should encourage your clients to re-evaluate not only the replacement costs of physical property, but the turnaround time for repairs or replacement so they can appropriately gauge their business income and extra expense exposure. Having adequate INSURANCE TO VALUE (ITV): insurance protection as external factors change will help your client’s business be better prepared in good times and bad. When assessing a property’s value today, several factors play a role: • Increased costs for construction and building materials • Increased costs and availability of specialized equipment, machinery, electronics, furnishings, etc. • Slower turnaround times for re-builds, delivery of materials, replacement of business personal property, etc. Avoiding the Impacts of Being Underinsured When property exposures are underinsured, clients may face a number of tough scenarios: 1. Not enough insurance: When a property is completely damaged and the limit of insurance is less than the replacement cost, the customer will simply not have enough insurance to cover the entire loss. 2. Coinsurance penalty: When underinsured, if a coinsurance clause applies, a customer may be impacted by a coinsurance penalty. This means that even without a total By Betsy Good, Vice President of Collateral Lines, Intact Financial Services What You Need to Know in This Inflationary Climate 18

loss, the customer would not collect the full amount for damages. For example, with a 90% coinsurance clause, if a customer carried $700,000 of insurance on a building that had a replacement value of $1,000,000, and suffered a $250,000 loss, even though the loss is less than the limit of insurance, the loss payout would be reduced by a coinsurance penalty. 3. Eligibility for Blanket Limits and Agreed Value: To help protect against the first two scenarios, many customers request limits that are “blanketed” over multiple properties. In short, the total limit is available to any one property that falls under the blanket coverage. To ensure they collect adequate premiums for all of the properties included in blanket coverage, insurance companies require a “statement of values” for each property and check that the amounts for each property are at least 90% of the estimated replacement cost. To encourage more than 90%, credits are given in the rate calculations for up to 100% of estimated replacement cost. You Can Help Inform and Educate Your Clients Being close to your client, especially with many external factors that could impact their business, is critical. There are various ways you can help your clients in this environment, such as Agree Value. This is a tool that suspends coinsurance provisions, and the insurer and customer agree that the value provided is the full replacement cost of the property. This protects against coinsurance penalties, but not against limits that are too low. Combining Blanket Limits and Agreed Value can also provide great protection for your clients, but keep in mind that insurers will be using insurance valuation tools to estimate replacement costs. If the stated values are too low, the properties with insufficient values will not be eligible for inclusion in the blanket limit or agreed value provision. Addressing values upfront will help prevent delays with questions about values that are too low. The bottom line is that with the current inflationary environment and other factors affecting costs and time frames, reflecting the right insurance to value is paramount. This helps customers avoid underinsuring property exposures and other impacts to their business. We encourage you and your clients to carefully review their property values and recognize the longer time frames for repair or replacement when selecting their property limits. Remember, it’s important customers and brokers work closely with their carrier to make sure the correct, current values are reflected. Having adequate insurance protection as external factors change will help your client’s business be better prepared in good times and bad. Pub. 12 2023 Issue 1 19

Susie Keith Retiring After 47 Years from Exchange Bank & Trust, Atchison Vice President, Susie Keith, retires from Exchange Bank & Trust after 47 years of dedicated service. She joined the Bank on Aug. 11, 1975, after graduating from Atchison County Community High School in Effingham, where she was raised. She was well-experienced in multiple facets of banking and served in several capacities during her time with the Bank. Her previous positions included Customer Service Representative, New Accounts Clerk, Teller, Receptionist, Loan Processor Loan Administration Officer, Vice President, and Chief of Loan Operations. Her involvement included consumer lending activities and supervising loan administration functions. Susie has resided in Atchison County her entire life and has devoted much time to her family and assisting with a variety of county-wide charitable and civic projects and events. Among these are Relay for Life to raise awareness and funds in the fight against cancer; Atchison Area Chamber of Commerce Farm-City Agriculture Committee; Leadership Atchison and the annual Atchison County Fair Parade. Susie and her late husband, Dickie, happily raised two daughters and have five grandchildren with one on the way in 2023. President Chuck Swinford stated, “Susie has been a valuable part of the bank for the last 47 years. When I first met her, it was evident that she held a strong work ethic, she was an innovative thinker and dedicated to the job, the bank, and her customers. I am personally grateful for her leadership.” Deterding/Keeny Family at Citizens Bank of Kansas Citizens Bank of Kansas celebrated 100 years of family ownership in 2022, culminating with Open Houses at all 10 branch locations on Friday, Dec. 2, 2022. The family story starts in 1922 in Cowley County, Kansas. Martha Martinez, Bank of Prairie Village, Celebrates 50 Years in Banking Congratulations to Martha Martinez on her 50 years in banking! She started her career as an Executive Assistant to the Regional Trust Department EVP John Owen from 1970-1994 at Commerce Bank in Kansas City, Kansas. From 19942000, Martha was then the Executive Assistant to the new Trust Department EVP Dan Bolen. Martha was then Dan’s assistant from 2000-2003 at Capital City Bank in Topeka and Kansas City. She remained Dan’s Executive Assistant when moving to Bank of Prairie Village in Prairie Village from 2003-present day. Some of the highlights of Martha’s career have been working directly for Dan Bolen for 28 years and for three banks. Martha has been a lifelong Kansas resident. She is the mother of U.S. Army Veterans and two Johnson County Sheriff Department Officers and also the grandmother of a high school all-American soccer player. Martha has played a key role (along with KBA’s Terri Thomas) in the establishment of what is nowThe Bank of Prairie Village and Blue Lion Bancshares, formerly Hartford State Bank. Happy Retirement to Nancy Cone, Bank of Tescott! After 40 years in banking, Nancy Cone retired from the Bank of Tescott in Lincoln. Her career started in 1982 with the First National Bank of El Dorado as a bookkeeper and loan secretary. In 1990, she transitioned to Saline Valley Bank, now Bank of Tescott. Throughout her career, she held various positions and ended as the bank’s BSA/CRA officer. Travel and working on her farm are the things she is looking forward to the most during her retirement. Enjoy, Nancy! (Left to Right) Chairman of the Board Douglass Adair, Susie Keith and President Chuck Swinford at Susie’s retirement party (Left to Right) KBA president/CEO Doug Wareham, Citizens Bank of Kansas Chair Jane Deterding, Citizens Bank CEO Mark Keeny, and Citizens Bank accounting analyst Sarah Keeny Moon BRIEFLY IN KANSAS BANKING 20

“My great-grandfather Herbert H. ‘Bert’ Smith and his cousin C.V. Foust purchased The Citizens State Bank in Atlanta, Kansas – the predecessor to Citizens Bank of Kansas,” said Jane Deterding, Chairman of the Board of CBK and fourth-generation banker. “Ray J. Deterding was Assistant Cashier at the bank and continued in that position under Bert Smith. In 1925, Ray Deterding married Inez Smith – the banker’s daughter – and became president of the bank shortly thereafter.” The third generation joined the Bank in 1962. After working as a bank examiner for the FDIC for five years, Max S. Deterding, son of Ray and Inez Deterding, purchased the controlling stock of another rural Kansas bank, Turon State Bank. After Ray’s death in 1963, Max purchased the Citizens State Bank stock of his grandfather, Bert Smith, to maintain controlling shares for the family. Max Deterding was the visionary for the future of the Bank, acquiring several community banks in south-central Kansas. He was active in the Bank for over 40 years. Continuing the tradition of family ownership and management into the fourth generation, Mark Keeny – husband of Max and Shirley Deterding’s daughter, Amy – joined the Bank in 1993 after four years as a bank examiner with the Kansas State Banking Department. Mark served as Cashier and Executive Vice President; he became President/CEO in Dec. 2002, and currently serves as CEO. Jane Deterding, daughter of Max and Shirley Deterding, joined the bank in 2001 as General Counsel, Executive Vice President/ Chief Strategic Marketing Officer. She is also Chairman of the Board of Directors for CBK. Sarah Keeny Moon, daughter of Mark and Amy Keeny and fifth generation banker, joined CBK in 2019 as an Accounting Analyst. Kennedy Family from First National Bank in Frankfort First National Bank in Frankfort and the Kennedy family turned 100 years old in April 2021 but due to the pandemic, the celebration was postponed. The bank was started in 1921 when a group of area residents was granted a charter to become a national bank. The purpose of the business started due to several surrounding banks failing and/or leaving town. The original investors wanted to provide service to the community and surrounding areas. While technology has changed, the mission to provide banking services to the community and area has not. They have shown growth since the beginning. Among the founders was James W. Kennedy, who was then a farmer/rancher in the Frankfort community. He was elected President of the Bank, the first of four generations of his family to hold that position. First National Bank is the only bank in the county that remains family owned with headquarters in the county. William F. Kennedy spent his career as the second generation President and he bought many of the minority shareholders’ shares to put the majority of ownership in his family. William J. and Joseph P. Kennedy were the third generation to serve as President. Jay P. Kennedy is currently the fourth generation. Current ownership includes Jay Kennedy, his mother Marybeth Kennedy, his aunt Martha Miller, the trust of his late aunt Nancy Padden and W.J. Kennedy. Jay Kennedy said in an article covering the 100-year celebration of the bank, “Frankfort and the area have been good to our organization, and it is our goal to be good in return. Turning 100 was a big deal that was dampened by the pandemic. We are fortunate that the pandemic didn’t hit us as hard as most. Turning 100, whether a business, a community or an individual is a big deal. We are excited to start the next century. The bank has remained in the same location on 2nd and Kansas Street in Frankfort since day one. It has survived the Great Depression, the financial challenges of the 1980s, the 2008 recession and the pandemic. Congratulations to the Kennedy Family and to First National Bank! The Trust Company of Kansas Welcomes New Employees The Trust Company of Kansas (TCK) is pleased announce that Nicole L. Easton has been recognized by the American Bankers Association as a member of the Under 40 in Wealth Management, Class of 2023. These awards recognize wealth management and fiduciary professionals who are committed to the highest standards of achievement at work and in their communities. Nicole L. Easton is a Vice President & Trust Officer at The Trust Company of Kansas. With over 15 years of experience in financial services, Nicole has developed a passion for serving her clients with excellence. Her keen attention to detail keeps her focused on the financial aspects of her clients’ lives so that they can stay focused on their priorities. Nicole has a proven track record for creating tailored plans that help people (Left to Right) KBA’s President and CEO Doug Wareham presents Jay Kennedy with the Century of Family Banking award at First National Bank in Frankfort. (Left to Right) Duane Broxterman, Kathi Broxterman, John Kennedy, Frank Kohman holding Ada Weishaar, Ann Kohman with William Weishaar, Martha Miller, Bill Kennedy, Jay Kennedy, Maggi Kennedy, Marybeth Kennedy Nicole L. Easton, Vice President & Trust Officer Pub. 12 2023 Issue 1 21

Frederick W. “Bill” Beckmeyer, of Salina, Kansas, passed away Tuesday, Jan. 3, 2023. He was born in Medford, Oklahoma, on Jan. 19, 1930, to Fred and Irene (Sheeran) Beckmeyer. Bill graduated from Chapman, Kansas, High School in 1948, where he was involved in various sports. He graduated from Kansas State University with a degree in journalism in 1952. He served in the United States Army Infantry as a 1st Lt. in the Korean War with the 5th Regimental Combat Team. Bill was employed at Sunflower Bank as In Memory Frederick W. “Bill” Beckmeyer 1930-2023 senior vice president and served on the bank’s executive committee, working in the correspondent division. He wrote a monthly newsletter for correspondent customers featuring banking events and people titled It Occurs to Me. Bill also worked as a consultant for the American Bankers Association. He attended the Colorado School of Banking and Bank Marketing School. He was a 50-year member of the Kansas Bankers Association and served as state director for the Bank Administration Institute. accomplish their saving, investing, retirement, tax, and estate planning goals. Nicole graduated from Oklahoma State University with a Bachelor of Science degree in Accounting. She is both a Certified Public Accountant and Certified Trust and Fiduciary Advisor. She is actively involved in the Wichita community, serving as President of Wichita Estate Planning Council, Trustee of the Mary R. Koch Arts Center, Membership Committee member of Rotary Club of Wichita, and a seventhyear active member of Junior League of Wichita. The Trust Company of Kansas (TCK) is also pleased to add an experienced wealth management professional to its Wichita team. Tarzia Nabi joined The Trust Company of Kansas (TCK) Wichita office on Jan. 1, 2023. She will be responsible for developing and executing TCK’s investment strategy, including leading the company’s Investment Sub-Committee team with a focus on carefully managing assets for an optimum net annual return — one of the best measurements of a wealth manager’s value. Tarzia comes to us with 10 years of experience in the trust industry as a portfolio manager. Prior to her trust industry experience, Tarzia spent several years working as a successful wealth management advisor. She will make a great addition to the TCK team. Tarzia Nabi, Vice President – Investments Mason Retires from Legacy Bank Kelly Mason retired from Legacy Bank effective Dec. 31, 2022. Kelly joined the Legacy Bank team Sept. 10, 2018, as Senior Vice President of Commercial Lending when Legacy merged with and acquired First National Bank in Pratt. Kelly brought with him 30 years of banking experience as a CEO of two rural community banks. Kelly was the CEO of FNB Pratt (1999-2018) and Chairman of the Board of FNB Pratt (20092018). Prior to his time at FNB Pratt, Kelly was at State Bank of Kingman (1989-1999) first as a Vice President and then in 1991 as CEO. Kelly also served on American Bankers Association committees and is past chairman of Kansas Bankers Association. In 2019, Kelly & Barb moved to Wichita and he was elected to serve on the Colwich Financial Corporation and Legacy Bank Board of Directors. He will continue to serve on the Board at Legacy Bank. BRIEFLY IN KANSAS BANKING 22

Dean Karl Johnson, 79, formerly of Hutchinson, KS, passed away Nov. 18, 2022. He was born Oct. 25, 1943, in Hutchinson, KS, the son of Karl and Helen Johnson. Dean spent his early years in Haven, KS, where he was active in both 4H and Future Farmers of America. After graduating from Haven High School, he attended Kansas State University where he earned a bachelor’s degree in Animal Science and also served two years in the National Guard. His degree led him to a career in banking, initially working with a bank in Dodge City, KS, who serviced farming communities. After two years in Dodge City, he moved to Farm Management Commercial to work in Hutchinson, KS, eventually serving as the President for Hutchinson National Bank and then Emprise Bank. Later, his career took him to the Kansas City area where he was a partner at The Capital Corporation from 1997 until his passing. An active member of the Kansas Bankers Association, traveling the Midwest and building relationships throughout the industry, Dean was a respected leader and mentor for over 50 years with great dedication and passion for the industry. In Memory In Memory Dean Karl Johnson 1943-2022 Patrick (Pat) Dembkowski, 60, of Manhattan, passed away Thursday, Dec. 22, 2022. He was a VP of Retail Audit/Compliance for Community First National Bank in Manhattan for over 18 years and Commerce Bank for his 42 years in banking. Pat was born in Highwood, Illinois on May 20, 1962, the son of Margit W. (Laue) Dembkowski, of Manhattan and the late Louis Stanley Dembkowski. He attended and graduated from Manhattan High School in 1980 and Manhattan Area Vo-Tech. Pat is survived by his mother, Margit W. (Laue) Dembkowski, of Manhattan; son, Christopher Dembkowski (Adrienne), of Orange City, Florida; twin sister, Patricia (Pat) Dembkowski (Wally), of Manhattan; two brothers, Ludwig Dembkowski (Gayla), of Bastrop, Texas; Rodney Dembkowski (Melodie), of Manhattan; three grandchildren, Nora, Ayla and Alexis Dembkowski; and his furry companion, Marley and many nieces and nephews. He is preceded in death by his father, Louis, and one brother, Donald Dembkowski. Patrick Dembkowski 1962-2022 Pub. 12 2023 Issue 1 23

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