Pub. 8 2020 Issue 1

©2020 Utah Bankers Association | The newsLINK Group, LLC. All rights reserved. Utah Banker is published four times each year by The newsLINK Group, LLC for Utah Bankers Association and is the official publication for this association. The information contained in this publication is intended to provide general information for review, consideration and banker 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 Utah 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. Utah Banker is a collective work and as such some articles are submitted by authors who are independent of Utah Bankers Association. While Utah Bankers Association 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. UBA Board of Directors 2020 CONTENTS 1 CHAIRMAN Kay B. Hall EVP and CFO Zions Bank Salt Lake City VICE CHAIRMAN Kristin B. Dittmer EVO and CFO EnerBank USA Salt Lake City 2ND VICE CHAIRMAN Eric Schmutz President and CEO State Bank of Southern Utah Cedar City IMMEDIATE PAST CHAIRMAN Douglas L. DeFries President and CEO Bank of Utah Ogden COMMUNITY BANK ADVISORY COUNCIL CHAIR N. George Daines Chairman and CEO Cache Valley Bank Logan INDUSTRIAL BANK ADVISORY COUNCIL CHAIR Paul F. Thome President Sallie Mae Bank Salt Lake City REGIONAL BANK ADVISORY COUNCIL CHAIR Matthew D. Bloye Region Bank President Wells Fargo Salt Lake City PRESIDENT Howard M. Headlee President Utah Bankers Association Salt Lake City BOARD MEMBERS Kelly M. Barnett President WebBank Salt Lake City Jan M. Bergeson Utah Market Leader Ally Bank Sandy Robert M. Bowen President and CEO Brighton Bank Salt Lake City Robert W. Carpenter Executive Director and Region Manager JPMorgan Chase Salt Lake City Deborah Culhane President and CEO Optum Bank Salt Lake City Terry L. Grant Utah Market President KeyBank Salt Lake City Mark A. Herman Market President U.S. Bank Salt Lake City Kisty Morris Executive Director Morgan Stanley Bank Salt Lake City Wade L. Newman President and COO Celtic Bank Salt Lake City Mark Packard President Central Bank Provo Frank K. Stepan Managing Director and Vice Chairman UBS Bank Salt Lake City Len E. Williams President and CEO Altabank American Fork 2 The Bottom Line By Howard Headlee, President, Utah Bankers Association 6 Compliance Corner: Considerations for Successfully Defining Your Target Market By Julia A. Gutierrez 8 Why You Should Sign Up for the Emerging Bank Leaders Mentoring Program 10 2020 AG Outlook and Conference 11 How to Use the Extra Time for CECL By Jeff Goldstein, SVP, Regional Manager 12 Late in the Cycle, It’s Back to Basics for Banks By Scott Hildenbrand and Matthew Forgotson 14 Banker Meet-Up 14 State Tax Credits and Investors BY Claudia O’Grady 15 Bank Alarms 16 Upcoming Events 17 Banking Security and Culture 18 Banks Must Plan, Adapt and Overcome in 2020 By Scott Hildenbrand and Matthew Forgotson 20 Bank Kudos 22 UBA Associate Members 24 Bankers on the Move