Volume 70, Number 6 • THE NEWSPAPER OF THE MISSOURI BANKERS ASSOCIATION • Thursday, July 17, 2014

The Missouri Banker

Visit our web site at http://www.mobankers.com

Setting the stage for another dramatic veto session, Gov. Jay Nixon vetoed 33 of the 163 bills passed by the General Assembly, concluding his actions on July 14. In 2013, Nixon vetoed 29 of the 150 bills. The modern day veto record is 35 bills, set by Gov. John Dalton in 1961.

The Republican led legislature also set a record in the 2013 veto session by voting to override 10 bills. That was the largest number of veto overrides dating back to the Civil War.

“Banking industry legislation fared pretty well,” said Craig L. Overfelt, MBA senior vice president and lobbyist. “Our priority bills were

signed by the governor. Considering the number of bills vetoed, we feel pretty good about this.” Bills signed included those relating to condominium assessments, patent trolls, UCC Article 9, merchant processing, garnishments, unclaimed property, pension advances and irrevocable life insurance trusts. “Three bills we supported were vetoed,” Overfelt said. “I’d anticipate another very interesting and intense veto session on Sept. 10.” One of the bills vetoed would allow the Department of Revenue to electronically release liens on motor vehicles. Gov. Nixon cited a drafting error

in the bill in his veto message. “A funding source would have to be found to pay for a new computer system,” Overfelt said, adding, “it looks like there will be a bill introduced in the next session on this issue and not a veto override effort.” The other two bills vetoed were the omnibus agriculture legislation. “These bills are much more controversial and received a lot of attention in the news media,” Overfelt said. The controversy is over a provision to reclassify captive deer as livestock and move regulation to the Department of Agriculture from the Department of Conservation. The governor said the bills violated a provision in the state Constitution.

Supporters of the captive deer provision and 13 agriculture organizations have stated their intention to seek an override of the gubernatorial veto, while those supporting Conservation interests have vowed to fight to sustain the veto, according to Overfelt. “MBA supports one provision in the bills to correct a lending problem created by the 2013 law on foreign ownership of agricultural land,” Overfelt said. “MBA doesn’t have a position on the captive deer issue. We are like some other agriculture groups that have provisions in these omnibus bills. We have a problem we are trying to resolve so banks can continue to make loans on agricultural land.”

Stage is set for dramatic veto session

For the eighth year, the MBA launched a photo contest for the 2015 MBA “Scenes of Missouri” calendar. The calendar design has now been finalized and orders are being taken. Twelve photos were selected to be featured for each month of the calendar, and fourteen more photos are used in photo collages for the front cover and the back page of the calendar. “Missouri bankers have again provided us with beautiful photos for the 2015 calendar,” said Carol Barnett, MBA Senior Vice President of Compliance Services. “We have photos from 21 different photographers, including fourteen new photographers this year.” The winner of the $100 photographer prize is Larry Dobson from Raymore. Larry is an advisory director for Commerce Bank in Harrisonville, and is also Vice President of the Missouri Bluebird Society. His photo captured two bluebirds in the snow, and is the January monthly photo. To see an order form, go to page 12. Information is also available on the MBA web site at www.mobankers.com (click on “Scenes of Missouri Calendar” under the Products & Services tab). Calendars may be ordered up until Aug. 29, for shipment in October. If you have any questions, contact Carol Barnett at the MBA at 573-636-8151 or via email to cbarnett@mobankers.com.

Larry Dobson, an advisory director for Commerce Bank, Harrisonville, is the winner of MBA’s 2015 Calendar Photo Contest. His photo captured two bluebirds in the snow with greenery and blossoms. Calendars are now available to order.

2015 MBA Scenes of Missouri calendar finalized

Page 2 The Missouri Banker July 17, 2014

Address changes Changes in addresses for The Missouri Banker can be mailed to the MBA at P.O. Box 57, Jefferson City, MO 65102, Attn: Database Manager or e-mailed to database@mobankers.com

The Missouri Banker573-636-8151

Max CookPublisher

cmcook@mobankers.com

Sue NorfleetEditor

snorfleet@mobankers.com

The Missouri Banker (USPS Number 000044, ISSN Number 0893-5637) is published 12 times a year (once a month) by the Missouri Bankers Association, 207 E. Capitol Ave., Jefferson City, MO 65101. Second-class postage is paid at Jefferson City, Mo. Copyright© 1998 by the Missouri Bankers Association. All rights reserved. POSTMASTER: Send address changes to The Missouri Banker, P.O. Box 57, Jefferson City, MO 65102. Opinions expressed in any signed article in The Missouri Banker are those of the author and should not be construed as the viewpoint of the editors or of the Missouri Bankers Association. Neither should information provided in The Missouri Banker be construed as legal advice. The Missouri Banker does not provide legal advice, nor does it take the place of legal counsel hired by financial institutions. While this publication makes a reasonable effort to establish the integrity of advertisers, it does not endorse advertised products or services, unless otherwise so stated. This issue may contain legislative advertising. Advertising copy is generally segregated from news and other information.

Dan RobbChairmanMissouri Bankers Association

Chairman’s Corner

It simply amazes me how many of my fellow bankers don’t take the time to advocate for our wonderful industry. We must be passionate about sharing the message that community banking is the backbone of

our communities, our state, and our nation. I recently returned from the Central States Conference held in West Baden, Ind., where 18 central U.S. states were represented. State association executives and elected association officers met to focus on the strategic challenges and opportunities our associations and banks face today. The central states region is from Pennsylvania to Colorado and North Dakota to Texas. It represents 4,180 institutions out of 6,812 total institutions nationwide. As you know, and can see by the numbers, the central U.S. has a lot of banks that all want to continue to do their best at providing quality banking solutions to their customers. Restrictive regulations often make that very difficult. It’s no surprise that regulatory burden was near the top of the hardest-challenges-we-

are-all-fighting list. It was agreed that we must advocate for our industry both individually and collectively. You may be asking, “What is advocacy?” It is the process of supporting a cause or proposal. Effective advocates for banking can influence public policy and laws by using our relationships, our experiences, and our stories to educate both government officials and the public about changes that must be made to improve our ability to conduct business and take care of our customers. One of the basic steps is to answer the call of every action request that MBA and ABA sends out regarding important current legislative or regulatory issues at the state or federal level. You can do that by email, letter or phone call. Know the facts and get their attention with a personal story on

how the proposed legislation or regulation either helps or hurts your bank, your customers and your community. The next step is to advocate in person. On the state level that can easily be done through MBA’s Target Banker program. Target Bankers travel to Jefferson City when the Legislature is in session to discuss pending legislation with their state elected officials. This program is for the novice as well as the seasoned professional. The MBA Government Relations staff is very good at taking you through the process. I have had many walks through the Missouri Capitol with Bill, Chris, and Craig showing me the way. They are EXCELLENT at what they do, but they need bankers with them to explain how proposed laws can affect Missouri banks, their customers and communities! Another great way to advocate in person is to make the MBA trip to Washington D.C. each fall. This year’s “Washington Visit” is scheduled for Sept. 29 through Oct. 2, 2014 and is a very important part of the advocacy process we all must

engage in. We NEED you to tell your story and more importantly your customers’ stories face-to-face with our congressional members and our federal regulators. I have watched Missouri bankers tell their stories to our congressional members who in turn have used that information in committee hearings and to introduce meaningful legislation. It is necessary to have strong voices and strong numbers on this important trip. Only a few short years ago I had never even been to DC, let alone visit with my elected officials. I now understand that is my right and MY RESPONSIBILITY to share my message to those that WE have elected to represent us in our People’s House! The last but very important step in the advocacy process is PAC contributions. Support your State and FED PACs with your bank dollars and/or personal dollars. This won’t be the last you hear from me on PACs!! If I can help you with any or all of these avenues for ADVOCATING for our industry, our livelihood, our future please contact me.

The MBA has joined with bankers associations across the country to create the Regulatory Feedback Initiative (RFI). This initiative will bring transparency and accountability to the regulatory process and will help every bank in the country prepare for their examinations and manage their regulatory risk. The initiative consists of a brief, anonymous online survey that we are asking every bank to take immediately following each safety and soundness examination and each compliance examination. We need every bank to build the survey into their examination process. For more information, visit the Coalition of Bankers Associations web site at www.allbankers.org. To receive a link to the survey contact Mike Noblett at the MBA via email at mnoblett@mobankers.com.

MBA is a part of Regulatory Feedback Initiative (RFI)

Support banking with your advocacy

Security Management Seminar set for Oct. 22 MBA will hold a Security Management Seminar on Oct. 22 in Columbia at the Stoney Creek Inn. The seminar is designed for security officers, analysts, fraud investigators, risk managers, operations personnel, branch managers and administrators, and compliance and audit personnel. Attendees will receive a Certificate of Security Manage-ment Training and a workbook. The program topics include robberies, cybercrime, workplace violence, and integrity and honesty. Visit the MBA website at www.mobankers.com for more program and registration information.

Page 3The Missouri Banker July 17, 2014

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WHEN IT COMES TO PARTICIPATION LENDING

ALL-INWE’RE

Lobbyist’s Update

Craig OverfeltMBA Senior Vice Presidentcoverfelt@mobankers.com

In 2002, we headed out for the MBA Regional Meetings. It was an election year and our “Meet the Candidates” series of meetings. The candidates we met during those meetings during 2002 were the first class of legislators under term limits. Twelve years later, as we prepare once again for the Regional Meetings and “Meet the Candidates,” I have been reflecting on how much influence that class of legislators has had on state policymaking and on issues of interest to the banking industry. Many of the candidates that attended those meetings

in 2002 served eight years in the Missouri House and are now state Senators. Several are in key positions, such as Majority Floor Leader Ron Richard, Senate Banking Chairman Jay Wasson, Senator’s Mike Cunningham, Bob Dixon and Brian Munzlinger. When we met these gentlemen at those Regional Meetings, little did we know how long they would serve in public office and what impact they would have. I can’t state strongly enough how important those early contacts when these lawmakers were candidates running for the Missouri

House for the first time turned out to be for bankers. It is time once again for the Regional Meetings and “Meet the Candidates.” Many from this series of meetings will be in office for the next 8 to 16 years and will have a profound impact on state policy and banking laws. Some will move on to statewide offices and perhaps even to Congress. I urge bankers to attend and invite the House and Senate candidates that will represent YOU to these meetings.

H H H H

The annual veto session in September is certainly

shaping up to be every bit as dramatic as the 2013 veto session. Gov. Jay Nixon vetoed 33 of the 163 bills passed during the regular legislative session. Last year, the governor vetoed 29 of the 150 bills passed and lawmakers voted to override 10 bills. The modern veto record was set by Governor John Dalton in 1961 when he vetoed 35 bills. The record for veto overrides by a legislature – 10 in 2013 – is the most dating back to the Civil War!! House and Senate members and leadership on both sides are discussing the

bills where override votes will be pursued. All in all, the banking industry faired pretty well, with most of our priority bills signed into law. There were three bills vetoed.

• One would have allowed the Department of Revenue to set up an electronic lien release system for motor vehicle liens. Funding for this system is still an issue. The governor cited a technical drafting error. The bill is House Bill 1999. It looks like there will be a new

Meet-the-candidates Regional Meetings forge valuable bonds

See Lobbyist’s UpdatePage 4

Page 4 The Missouri Banker July 17, 2014

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Lobbyist’s NotebookFrom Page 3

bill introduced on this issue next session thus no effort at a veto override.

• The other two bills are much more controversial and are being covered by the news media on almost a daily basis. Both bills, a House bill and a Senate bill, are omnibus agriculture bills and are nearly identical.

This one is shaping up as a fight between the numerous agriculture groups and conservation supporters. The bills are Senate Bill 506 and House Bill 1326. There are multiple subjects in these bills, all non-controversial, with the exception of the captive deer issue. The bills move the regulation of deer farms to the Department of Agriculture from the Department of Conservation. Governor Nixon contends this move would violate the state Constitution. The banking industry has one provision in the bills to fix a lending problem created

in the 2013 agriculture bill relating to foreign ownership of agricultural land. Without a legislative change, title insurance underwriters are making exceptions on some loans on agricultural land. Bankers, understandably so, are unwilling to make loans with these types of exceptions. An override vote in the House will be close. It takes 109 votes in the House for an override to succeed. During the session, the bills received 107 votes, but a number of these votes were from House Democrats. With it being an election year, combined with the much more active veto sessions, government relations is becoming a year round effort now. As I repeat frequently, banker involvement through the Target Banker program and contributing to MBA PACs, is very, very important. See you at the Regional Meetings!

By Linda Petersen Manager MBA Title Service In some cases, individu-als (not lending institutions) hold a lien on a motor vehicle,

Process for individuals who hold vehicle liens in Missouritrailer, boat, motor or manu-factured home in the State of Missouri. This is a legitimate option for assisting owners to make these large purchases. The person who will be the

lienholder needs to have a signed document stating the necessary information. Names, addresses, the year, make and VIN(s) on the unit(s) should all be included

in the document. This docu-ment should also state the amount of money loaned and terms for repayment. It is not required to be a complicated document. Sample documents that can be used to write your own agreement can probably be found on the internet or at a library. In order to file a No-tice of Lien you must have a signed and written document. The Notice of Lien DOR 4809 form for filing your lien with the Missouri Depart-ment of Revenue (DOR) is available on the department’s website at http://dor.mo.gov/forms. This form has three sections. The top section is for filing your lien. Simply fill it out and take or mail the form to the Department of Revenue. The address is given on the form. This will secure your loan until it is paid. When an individual who holds a lien on a motor vehicle, trailer, boat, mo-tor or manufactured home needs to release the lien DOR 4809 form must be used. An

individual is not allowed to use the letter form of lien re-lease because it is understood that individuals do not have letterhead, which is a require-ment of the letter-type release. The lower portion of the DOR 4809 is designed for releasing a lien.

The top portion of the form listing the owner name, ad-dress and the year, make and VIN are filled out, but the box next to the lien release portion at the bottom is the only one checked. The bottom portion is completed by filling in and signing the lienholder’s name as well as printing it.

The date the lien was made and the date it is released is noted. This is done before a Notary Public who completes the notary portion. The entire form is given to the person who has paid off their loan and they attach it to the origi-nal title. A lien release is not filed with the Department of Revenue until the next title is applied for.

Page 5The Missouri Banker July 17, 2014

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By Rob Hoff, CRCMVice PresidentMBA Compliance Services

Many of you probably know I’ve been a banker since college, not a journalist! But I remember from my English classes to be sure an article covers the “who, what, where, when, why, and how” of the topic we are writing about. So okay – here goes with what you need to know of the latest 1,800 pages of stuff from the Consumer Financial Protection Bureau (or CFPB) on their amendments to Truth in Lending and RESPA about KBYO – Know Before You Owe!

WHO? All banks who make consumer purpose residential real estate loans that are covered by the existing definitions found in Regulation Z/Truth in Lending Act(TILA) and Regulation X/Real Estate Settlement Procedures Act (RESPA).

WHAT? The new buzzword or acronym you need to know is KBYO – Know Before You Owe! Thanks to CFPB, we needed another acronym via the Dodd-Frank Act! What this does is combine the early Truth in Lending and Good Faith Estimate (GFE) forms into one “Loan Estimate” form given within three business days after application, and the final TILA and HUD-1 settlement disclosure forms into one “Closing Disclosure” form

Need another acronym to remember?given three business days before closing.

WHERE?All banks in the United States of America

WHEN? Lenders will be required to give consumers these forms for mortgage applications submitted on or after Aug. 1, 2015. That gives all of us some time to work on this, but you better get started – that is about 12 months away! We understand many of the document processing companies are working hard on this and have offered some of our member banks to be beta test sites for implementation. Hopefully this gives them enough time to get the forms implemented and tested before August 2015.

WHY? If you go to the CFPB web site and search KBYO, it has 52,600 results! So if you select the first link about the KBYO from the CFPB, you get a nice summary document of 4 pages. It then has numerous links to the sample forms, research, and so forth. It also includes a link entitled “what the rule will mean for financial service providers” and it includes this paragraph:

“For more than 30 years, federal law has required lenders to provide two different disclosure forms to consumers applying for a mortgage. The law also has generally required two different forms at or shortly before closing on the loan. Two different federal agencies developed these forms separately, under two federal statutes: the Truth in Lending Act (TILA) and the Real Estate Settlement

Procedures Act of 1974 (RESPA). The information on these forms is overlapping and the language is inconsistent. Not surprisingly, consumers often find the forms confusing. It is also not surprising that lenders and settlement agents find he forms burdensome to provide and explain.”

There is a great deal of information on the CFPB web site about this, so we recommend you look there as you prepare your bank for the changes in these mortgage disclosures. HOW? So how does this impact banks? That is the question ... Forms companies and bank regulatory agencies are gearing up for this next big change in the mortgage

compliance world. However, as occurred with the Dodd-Frank Act, expected changes, interpretations, deletions, and clarifications will inevitably happen. The MBA is reading and readying itself for this big change so as to be able to provide our members with the most current information and guidance. Training sessions are being developed and will be offered during the first quarter of 2015. Stay tuned for more information! (Note: Rod Alba with the ABA will be presenting a session at the 2014 MBA Compliance Conference on this topic.) Please contact Mike Noblett at the MBA Compliance Library at 573-636-8151 if you have any other questions on this topic. This article is for information purposes and does not contain or convey legal advice. The information should not be

used or relied upon in regard to any particular situation without consultation with your bank attorney. MBA Compliance Services and its Compliance Force program offer a variety of programs to aid banks with compliance needs. Services available include on-site education, in-bank training, compliance reviews and loan review. For more information, call Carol Barnett at the MBA at 573-636-8151 or email her at cbarnett@mobankers.com.

Rob Hoff

Retail sales rise in June Retail and food services sales rose 0.2 percent in June to a seasonally adjusted $439.9 billion, the Commerce Department reported this week. Excluding automobiles, sales rose 0.4 percent. Retail sales are up 3.6 percent from the same point in 2013.

Page 6 The Missouri Banker July 17, 2014

MBAdscommunity bank . Knowledge of real estate, consumer and some commercial lending is preferred. Good hours, nice working environment, salary commensurate with level of experience, great benefits. Send resume to State Bank of Missouri, P.O. Box 303, Grain Valley, MO 64029-0303. EOE

Great Southern Bank is seek-ing qualified candidates for a Senior Commercial Loan Transaction Specialist and a Commercial Loan Trans-action Specialist at our East

Commercial Lender – Clay County Savings Bank, a $90 million bank in the northland KC area, is looking for a solid individual to help grow its com-mercial loan program. Experi-ence with working with small businesses and SBA lending is a plus. Salary commensurate with experience with a great benefit package. Resumes may be sent to the attention of the President, P.O. Box 277, Liberty, MO 64069-0277.

Loan officer position avail-able at small independent

Battlefield, Springfield MO location. Both positions are responsible for the loan review process and ensuring that all loan documentation has been verified prior to the loan being closed. Other responsibilities include assisting the Commer-cial Lending area, Loan Admin-istration area and Staff Legal Counsel to ensure regulatory compliance within all areas of responsibility. The quali-fied individuals are preferred to have a college degree with emphasis in Finance or Busi-ness Law. Previous experience in Commercial Lending, Loan Administration or Business or Finance Law is preferred due to dealing with complex lend-ing transactions, tax credits and/or financial derivatives.

Please apply online at: www.greatsouthernbank.com/jobs

Great Southern Bank is an Equal Employment Opportunity Employer of Minorities, Fe-males, Protected Veterans and Individuals with Disabilities.

FINANCIAL-OPERATIONAL AUDITOR being sought for LANDMARK BANK location in Columbia, Missouri. Full-time exempt position responsible for auditing financial records and operations. Position pro-

vides an independent, objec-tive assurance and consulting approach designed to add value and improve the effec-tiveness of risk management and financial reporting. Job Description, requirments and application online: www.land-markbank.com #14-0104 EOE AA/M/F/VET/DISABILITY

LANDMARK BANK is seek-ing a LOAN OFFICER for our location in West Plains. Incumbent will be respon-sible for origination of loans & maintenance of an exist-ing loan portfolio which may include personal, real estate, agricultural and commercial loans. Active participation in the bank’s sales program is required, including fulfillment of referral goals, as assigned. Job description, requirements, application online:www.landmarkbank.comRequisition #14-0155

Come join the KCB Bank team! We are a growing and finan-cially stable community bank with multiple branches around the Kansas City area, looking for a Commercial Lender/Loan Officer for our Glad-stone, MO branch. Experienced candidates must have 5 +

years’ experience as a com-mercial lender and offer the following; strong customer relationship management skills, business development skills and demonstrated com-munity inv...olvement. We offer a competitive salary and benefits package! Please send resume to: Human Resources, P.O. Box 888, Kearney, MO 64060 or via email to human-resources@kcbbank.com. EOE

Deadline to place a classified advertisement in The Mis-souri Banker is five days prior to publication date.

Email ads to snorfleet@mobankers.com and an invoice will be mailed to you. Logo insertion charge, $12.50.

Classified advertisements are posted on the public side of the MBA Web Site at no extra charge for the same time period as advertised in The Missouri Banker.

Classified ad rates are as fol-lows:• $1.00 per word for one

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Page 7The Missouri Banker July 17, 2014

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TextCaster is a mobile messaging service provider that connects clients to their audiences through mass text, email and web notifications. Company officials say they, like the banks they serve, believe in connection and community partnership. TextCaster is an MBA Bankers Service Corp. endorsed business partner. Country Club Bank, with locations in and around Kansas City, Missouri, is just one of nearly 30 banks in the state that support local schools by sponsoring the TextCaster service. School administrators use the mobile messaging to get the word out to parents and students. Because education matters, the way in which educators communicate with parents matters, too. Country Club Bank offers multiple services to its community, but it is easy to see the high value of TextCaster. “TextCaster has provided a proven, reliable system to the many

schools sponsored by Country Club Bank across the Kansas City metro area,” says Paul Thompson, president and CEO of Country Club Bank. TextCaster began with a conviction about communication. They believe in sharing, in messaging. Communities deserve to get information at the moment they need it. For schools, this information is often urgent and always important. Schools send messages that cover a variety of topics, from snow day alerts to back-to-school announcements to picture day reminders. Every message has one thing in common: it’s information parents need to know and information the community relies on. TextCaster is a pioneer on the mobile messaging front, forging the way in a new field. The company was awarded a patent to prove it — U.S. Patent 7,197,324, to be specific. With tech industry veteran Rob Sweeney as founder, TextCaster opened for business in 2003, before text messaging was a preferred way

to communicate. “We got here first so those we serve could get messages delivered when their audience needs them,” Sweeney said. “To us, it’s always been about connection. So partnering with banks to provide our services to local schools was a natural fit,” said Sweeney. “Our relationship with banks and the communities they serve is an important part of our history.” The first bank partnership TextCaster forged was with Platte Valley Bank in Missouri, part of the Country Club Bank family. The bank offered to sponsor Park Hill School District’s TextCaster subscription. In doing so, the bank became a key piece of the district’s communication puzzle, providing a critical service to the community it serves. “It is in everyone’s best interests that parents, students, faculty and staff know about emergencies and school closings while also receiving reminders about events and

notifications of game cancellations,” Thompson adds.

Today, nearly 50 banks in Kansas and Missouri work with TextCaster to support their local schools by sponsoring the subscription. “We’ve built a track record that we’re proud to stand on, serving hundreds of schools around the nation,” said Sweeney. “TextCaster has been a longtime partner of Country Club Bank,” Thompson says, “serving many communities as a vital resource in keeping schools connected with parents and students.”

If you are interested in partnering with TextCaster to sponsor your community school’s subscription, contact Evan Maxon at evan@textcaster.com or 816-268-2585.

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Page 8 The Missouri Banker July 17, 2014

By: Jason BauerMissouri BankersInsurance Services Last week, the Supreme Court unanimously vacated an appeals court decision in Fifth Third Bancorp v. Dudenhoeffer. The case was re-turned to the lower court with direc-tions for further consideration. This case turns on whether plan trustees (in this case effectively the employer) breached their “fiduciary duty” to the employees participating in the bank’s ESOP. Employees of Fifth Third brought suit against their employer for con-tinuing to encourage ownership in the bank via an ESOP retirement plan. During the run up to the financial crisis, Fifth Third assumed signifi-cant sub-prime exposure, ultimately resulting in the regional bank’s stock losing 74 percent of its value. The employees sued, claiming the bank’s leadership breached its ERISA “duty of prudence” obligations by encouraging acquisition of the stock when the bank’s leaders were aware of the portfolio’s risk exposure. Fifth Third claimed the bank’s fiduciaries were protected by a “presumption of prudence” in connection with their decisions to buy or hold the employ-ers’ stock. The Supreme Court rejected the “presumption of prudence” proof threshold claimed by the bank and Justice Stephen Bryer, writing for the court, explained that “ESOP fiduciaries are subject to the duty of prudence just as other ERISA fidu-ciaries are.” This aspect of the high court’s ruling has led some observ-ers to claim a victory for plaintiffs in

ESOP cases. This could potentially discourage use of these plans. But a closer reading of the court’s ruling shows that the Court recognized the Congressional intent and the public interest to promote employee stock ownership plans. The opinion shows that a very high bar still exists to state a claim for breach of fiduciary duty in rela-tionship to the administration of an ESOP.

Justice Bryer noted that the “threat of costly duty-of-prudence lawsuits” could keep companies from offer-ing ESOPs at all, which would be in direct contradiction to Congressional intent. The court acknowledges the need for a “mechanism” to “weed out” meritless lawsuits against ESOPs and their fiduciaries.

Even though the court dismissed Fifth Third’s presumption of pru-dence defense, the court noted that careful contextual scrutiny of com-plaints alleging a breach of fiduciary duty (such as a claim against the trustees of an ESOP - the context is to encourage employee stock owner-ship) would be required to weed out meritless claims.

So what does this case (publicly traded bank stock) mean for commu-nity banks? Publicly held and close-ly-held companies and their ESOPs are very different, with different risk exposures. The circumstances of the Fifth Third case as a publicly held company presented a perspective for the trustees that had they chosen to discourage ownership of the bank stock in the ESOP, they could have sent a signal to public markets that

would have encouraged an even broader sell-off, thus harming the very retirement savings of its em-ployees held in the bank stock. This will necessarily be part of the contex-tual analysis in the case on remand. We think the lessons from the case for community and closely held banks are relevant because the case underscores the Court’s recognition of the positive value Congress and the public have placed on ESOPs. This should encourage community banks looking to install an ESOP as a means of incenting employees, to promote the banks management of capital, and/or facilitate the bank’s succession planning since Congress and the Court’s will be hesitant to undermine these plans. Again, the value of an ESOP to your community bank in capital planning and in motivating your em-ployees is not diminished. Employee owners on average invest more and have account balances three to five times higher than the average 401(k) participant’s, according to Employee-Owned S Corps of America. And again, an ESOP can be part or your bank’s succession planning. ESOPs do present regulatory and litigation risks but this does not undermine their value to our com-munities as recognized by Congress and our country’s highest Court. We, at the Missouri Bankers Insurance Services, review regulatory and legal actions against banks, or any other industry for that matter, to obtain an understanding of what went wrong in the particular circumstances, and that helps us to protect our banking partners.

The purpose in discussing regula-tory and legal actions (including this case) is not to dissuade bank directors and officers from leadership deci-sions that advance a community’s in-terest and a community bank’s value. The discussion is intended to provide information about best practices and tools to lower risks.

Community banks without an ESOP in place are encouraged to learn about how an ESOP can benefit your bank, your employees and in some cases can provide a foundation for your bank’s succession planning. Missouri Bankers Insurance Services exists to help you actively advance the interests of your community and your bank by managing risk.

A very simple analogy applies to the wisdom of proper insurance protection, be it with respect to the fiduciary risks of implementing and administering an ESOP, or any other aspect of a community bank’s actual or potential liabilities: The fact that automobile accidents occur doesn’t mean you should sell your car. But, it does mean that it is prudent to “buckle-up.” A good insurance plan is your seat belt.

But also consider that an insurance plan is more than just buckling-up by purchasing a policy. It is important to wear the seat belt properly. At Mis-souri Bankers Insurance Services, we recommend that every community bank go through an annual fiduciary risk review to actively identify and manage your risks.

To learn more, contact Jason Bauer with Missouri Bankers Insurance Services at 844-546-7034.

Good news for community banks in Supreme Court’s ESOP ruling

The federal regulators have is-sued the host state loan-to-deposit ratios that they will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios update data released on July 1, 2013.

In general, section 109 prohibits a bank from establishing or acquiring a branch or branches outside of its home state primarily for the purpose of deposit production. Section 109 also prohibits branches of banks con-trolled by out-of-state bank holding companies from operating primarily

for the purpose of deposit production.

Section 109 provides a two-step process to test compliance with the statutory requirements.

The first step involves a loan-to-deposit ratio screen that compares a bank’s statewide loan-to-deposit ratio

to the host state loan-to-deposit ratio for banks in a particular state. A second step is conducted if a bank’s statewide loan-to-deposit ratio is less than one-half of the published ratio for that state or if data are not available at the bank to conduct the first step.

Agencies issue host state loan-to-deposit ratios

Page 9The Missouri Banker July 17, 2014

MBA Chairman Dan Robb isn’t sure if he chose banking for a career, or if it chose him. But, he believes he chose it after getting a close-up experience with the industry during his college job. After Dan graduated from Cairo High School in 1985, he enrolled at Moberly Junior College and checked in with its job service office to find a part-time job to help pay for college expenses. He was referred to City Bank and Trust Company for a part-time maintenance posi-tion. In a couple of months, he was offered a job as a drive-through teller. Dan worked as a teller from 1985 to 1987 in Mober-ly, but moved to Kansas City after he and Dianna were married in 1987. They attended UMKC and he worked as a teller at the UMB branch on the Plaza, and she worked as a teller at the bank across the street. “We were just kids who thought we had it made … living on the Plaza, walk-ing to work and going to UMKC,” Dan chuckles. He also says that during that time he was taking business classes and deciding that his career would be in banking. He later accepted a posi-tion in the Loan Department at UMB and moved to the downtown bank.Time for a change In 1994, Dianna and Dan had their older daughter, Meagan and made the deci-sion to return to a smaller community environment to raise their family. They moved to Warsaw where Dan became a lender at Osage Valley Bank. “We wanted to get back to our more rural roots,” he explains, “and I had a great experience there working with Larry and Betty Beach.” Dan joined First Com-munity National Bank at Cuba in 1997 working with

Dan Robb built his career from the ground upPaul Perkins in lending and branch management. His role there also expanded to regional manager of several branches. “Working with the Perkins family was another great experience,” he says.Recruited for Jonesburg He received a call in 2003 from a recruiter inquiring if he would be interested in go-ing to Jonesburg State Bank. Dan’s predecessor had died unexpectedly, and the bank needed a new president and CEO. He interviewed for the position with Scott Orr and other members of the board, was chosen to lead the bank and began working there in July of 2003. “I came to work on a Monday and Scott was here to introduce me to the staff and visit about the bank. Af-ter a couple of hours, he got in his car to go home saying, ‘good luck,’” Dan remem-bers. “I was flattered he had confidence in me.” Dan says he has been blessed to work with and for some great Missouri bank-ing families which has given him the experience to lead Jonesburg State Bank.Leadership style He says he tries to lead by example and show his team he has their best interest in mind. “I’ve considered lead-ership styles from everyone I’ve worked with and taken the best from them. I expect my team to perform, stay on task and be the best we can be for our shareholders, customers and community.” Dan believes a good lead-er shows his or her team that they have their best inter-est at heart. “A leader must motivate the team to keep a good attitude,” he says. He says he receives gratification from making people feel spe-cial. “I thank my employees at the end of every day,” he says. “When my employees are successful and having a good time, it inspires me to be a better banker.”

Jonesburg State Bank business includes one to four family real estate along with commercial, ag and small business lending. “We’re proud to be a rural commu-nity bank,” Dan says. The bank expanded in 2005 with a branch in Warrenton. Dan says he realized many of his customers had moved to Warrenton but still banked in Jonesburg, so the expansion made sense.Important to volunteer Another aspect of banking that is important to Dan is volunteering with the MBA. “I am passionate about this banking career and the op-portunity I have to work with customers to make a difference in their lives and businesses,” he explains. “If we, as bankers, don’t volunteer and work for ourselves, who will do it for us?” he questions. “We need more than just a few bank-ers carrying the water for the industry in Missouri.” Dan began volunteer-ing with the MBA in 1997 when he made his first Target Banker visit to the Missouri

Capitol. He says he remem-bers sitting in the Missouri House gallery with Chris Lepper, who explained the proceedings to him. “I was a little intimidated on my first visit, but I quickly realized that my representative and senator really were interested in my views,” Dan says. That lesson was rein-forced when a state senator who Dan had met originally as a member of the House, called him at home one evening to discuss how a piece of proposed legislation would impact his bank and banking in general. “There is so much value in making Target Banker trips to Jef-ferson City and participating in the Washington Visit to establish relationships with our lawmakers,” he says. “It’s part of the job of being a banker.” Dan has served on the MBA Board beginning in 2008, and after he completes his year as immediate past chairman, he will have been a board member for eight continuous years. He has served on the Compliance

Committee, the Government Relations Committee, Surety Agency Task Force and the Budget and Audit Commit-tee. Dan also served as MBA Treasurer before his elec-tion as Chairman-Elect and Chairman. When Dan isn’t running the bank or working with the MBA, he and his family enjoy spending time at their home which includes a small lake for fishing and about 40 acres of timber for hunting and riding off-road on the family’s Ranger. Dan and Dianna have two daughters. Twenty-year-old Meagan is studying communications at Truman State University in Kirksville, and Morgan, 18, will be a freshman at Missouri State University in Springfield. Morgan plans to study business. As far as personal hobbies go, Dan says he enjoys golf, snow skiing and hunting. The family enjoys attending the occasional Mizzou or Cardinal game, and are able to travel only about an hour to either St. Louis or Columbia.

MBA Chairman Dan Robb and his wife, Dianna, at the entrance to Jonesburg State Bank where Dan is the president and CEO. Dianna also works part-time at the bank. Dan joined the bank in 2003.

Page 10 The Missouri Banker July 17, 2014

By Keith ThornburgGeneral Counsel

The Missouri Bankers Association Bank Counsel Section has been monitoring the developments in Choice Escrow and Land Title, LLC vs. BancorpSouth Bank. Choice filed suit against the bank in 2010 in the United States District Court in Springfield, Missouri seeking to hold the bank responsible for a fraudulent $440,000 wire transfer from the escrow company’s account. The case has progressed through the Eighth Circuit Court of Appeals. Choice was compromised by a “phishing” scam that resulted in the download of malware allowing the fraudsters to collect one of the company’s logon IDs, the associated password, and the company’s computer IP address and profile. With this knowledge the fraudster was able to defeat the wire transfer controls and security procedures offered by the bank and selected by the company. The criminals were able to “take over” Choice’s account to direct a $440,000 wire transfer to Cyprus. Choice sued the bank to recover the funds and the bank countersued for its attorney fees defending against the claim. On June 11, 2014 a three judge panel issued a decision in the bank’s favor on the basis that the risk of loss in this case under the facts and circumstances shifted to Choice. The security

breach occurred at Choice and Choice had declined “commercially reasonable” security procedures offered by the bank including dual control for wire transfers. Further, the Court held that an indemnity clause in the commercial account agreement was valid under Article 4A and that BancorpSouth could seek recovery of its attorney fees incurred in the case. The appeal is not final. Choice Escrow has filed a petition for re-hearing asking the Court of Appeals en banc (all the judges of the Court) to review whether contractual attorney fees (the indemnity clause) is permissible under Article 4A and to consider whether the bank negligently failed to consider the “size, type and frequency” of the fund transfers (of a title and escrow company) by allegedly offering a “one-size-fits-all” approach to its customers.

Choice’s position appears to be that even though Choice was breached and even though Choice declined two of the four security procedures offered by the bank that the bank should have offered other security procedures taking into account the nature of Choice’s business.

UCC 4A

UCC Article 4A governs fund transfers with regard to commercial customers. Risks are allocated differently compared to consumer banking relationships that come under other federal law and regulation and 4A allows contractual shifting of risks in commercial account relationships.

The UCC comments,

under Section 4A-202, show the drafters’ intent to address increasing volumes of commercial fund transfers and changes with new technology. Validating fund transfers has transitioned from in-person “verification” of an agent’s identity and authority to approve money transfers to the implementation of “commercially reasonable security procedures” to validate large volumes of transfers authorized and executed electronically.

Article 4A places the burden on banks to provide “commercially reasonable” security procedures. What is commercially reasonable will be determined in the context of a particular bank and a particular customer. The standard is not whether a particular procedure is the best procedure. Some customers may find certain procedures to be too inconvenient or expensive to accept.

When a customer, in writing, knowingly opts for a higher-risk procedure (or opts out of security procedures) the customer assumes the risk of a security breach related to that procedure. This risk can be shifted back to the bank, but only if the customer proves that source of the breach was not under the customer’s control.

Security Procedures in this Case – Security Procedures Today

BancorpSouth made four security measures available: 1. Unique user ID and

password (commercial software);

2. Device authentication of the customer’s computer and computer

characteristics (commercial software);

3. Daily limit settings for dollars and activity; and

4. Dual control and authorization where different Choice employee/users would be required to first prepare and then secondly to approve the fund transfer.

Choice declined 3 and 4 in writing. Subsequently, Choice was informed by one of their underwriters of the risk for account take over scams with a fraudulent transfer of funds to an overseas account. Choice contacted the bank to see if the bank would block overseas transfers. The bank indicated it did not offer a program to block overseas transfers but the bank again offered Choice the dual control security feature. Choice again declined. The record included testimony showing that Choice viewed transaction limits for dollars and activity and dual control and authorization procedures as significant inconveniences. As this case stands and as of the time of the fraud, the bank has been found to have offered “commercially reasonable” security procedures. Further, the bank documented the customer’s choice of less secure procedures and since the source of the breach was under the customer’s control the risk was successfully shifted to the customer. Security procedures protecting electronic data and transactions are in constant evolution in response to changing security threats. Banks have a business and a regulatory

duty to continually offer “commercially reasonable” security procedures under Article 4A and under relevant FFIEC guidance. The relevant FFIEC guidance includes:

http://ithandbook.ffiec.gov/media/resources/3390/fdi-fil-103-2005.pdf

http://handbook.ffiec.gov/media/153051/04-27-12_fdic_combined_fil-6-28-11-auth.pdf

The evolution of security procedures is illustrated by the last FIL above effective Jan. 1, 2012, updating the 2005 FIL. The most recent FIL specifically addresses account takeover fraud similar to the Choice scenario. If this same fact scenario took place in 2012 an example of an additional “commercially reasonable” security measure might include an off-line verification procedure for certain transactions. This case presents a good outcome for the bank. Lessons1. Security procedures

for on-line banking must be continually reviewed and updated to assure “commercially reasonable” procedures are offered;

2. Security risks that are under a customer’s control should be clearly identified and be taken into consideration in the bank’s procedures and should be clearly communicated to the customer;

3. Consider contract provisions that shift appropriate security risk to the customer including indemnification clauses.

UCC Article 4A Commercial Funds Transfers and Lessons From Choice Escrow v. Bancorp South Bank

Keith Thornburg

Page 11The Missouri Banker July 17, 2014

AgendaAugust 201413 Regional Meeting, Kansas City14 Regional Meeting, Springfield27 Regional Meeting, Cape Girardeau28 Regional Meeting, St. LouisSeptember 20143 Regional Meeting, Columbia3 HMDA Seminar, Stoney Creek Inn, Columbia4 and 11 AIB Principles of Banking Class, O”Bannon Bank,

Buffalo9-11 IRA School, Columbia11 MBA Board of Directors Meeting, MBA Office,

Jefferson City17-19 Compliance Conference, Holiday Inn Executive

Center, Columbia. (New Location)24 and Oct. 1 AIB Principles of Banking, The Bank of Mis-

souri, Cape Girardeau29 - Oct. 2 MBA Washington VisitOctober 201416 - 17 Young Bankers Leadership Conference, Tan-Tar-A

Resort, Osage Beach22 Security Management Seminar, Stoney Creek Inn,

Columbia22 and 29 AIB Principles of Banking Class, MBA Office,

Jefferson City30 - 31 Bank Legal Issues Conference, Courtyard by

Marriott, ColumbiaNovember 201413 BSA/AML Seminar, Stoney Creek Inn, Columbia19-20 Lending Compliance Workshop, Stoney Creek Inn,

ColumbiaDecember 20143 MBA Board of Directors Meeting, InterContinental

Hotel, Kansas City3 - 5 Executive Management Conference, The

InterContinental Hotel, Kansas City9 IRA Basic Seminar, Cape Girardeau10 IRA Basic Seminar, Columbia11 IRA Basic Seminar, SpringfieldJanuary 201525-30 MBA School of Bank Management, Stoney Creek

Inn, ColumbiaFebruary 201525 - 26 Technology Conference, Tan-Tar-A Resort, Osage

BeachMarch 201524- 25 Tri-State Leadership and Human Resource

Conference, Kansas CityApril 201523-24 Women Bankers Conference, Tan-Tar-A Resort,

Osage Beach

Missouri Bankers Foundation awards seven scholarships Seven Missouri high school students, one in each of MBA’s seven regions, have been awarded a Willis W. Alexander Scholarship. Alexander was a Missouri banker from Trenton who served as chairman of the MBA and executive vice president of the American Bankers Association. The Missouri Bankers Foundation Scholarship Fund is designed to encourage college-level study for young people who are interested in pursuing a career in banking or a field related to banking.

Kailey ElbertGallatin High School Gallatin Kailey Elbert is a graduate of Gallatin High School and is planning to study business at Moberly Area Community College. She received the scholarship for the Pony Express Region. Kailey served as her class president all four years of high school and was president of the National Honor Society in her senior year.

Kimberly ClarkCanton R-V High SchoolCanton Kimberly Clark graduated from Canton R-V High School, Canton, and plans to study business administration at Culver Stockton College. She is the Mark Twain Region scholarship recipient. Kimberly was first in her class and was president of the National Honor Society during her senior year. She

Kailey Elbert

Kimberly Clark

was a member of Future Business Leaders of America and received awards for accounting, economics and personal finance.

Kaylee ChappelowBlue Springs High School, Blue Springs Kaylee Chappelow is a graduate of Blue Springs High School who plans to study accounting, finance and business administration at Missouri State University, Springfield. She received the scholarship for the Truman Region. Kaylee was ranked fourth in her class of more than 500 students. She served as chapter president and Missouri state president for DECA, an association for marketing students.

Jessica PendergrastCentralia High SchoolCentralia Jessica Pendergrast is a graduate of Centralia High School and is planning to attend the University of Missouri to study accounting. She is the scholarship recipient for the Capitol Region. Jessica ranked first in her class and was a member of the National Honor Society. She attended Girls State in 2013 and was voted Centralia Band Queen in 2013.

Robert “Todd” Losby, Jr.Parkway South High School, St. Louis Todd Losby is a graduate Parkway South High School, St. Louis and plans to study accounting and finance at St. Louis University. He is receiving the scholarship for

Kaylee Chappelow

Jessica Pendergrast

the Gateway Region. He was a member of the National Honor Society and was an Academic All-American in USA Water Polo.

Austin EvansLebanon High SchoolLebanon Austin Evans is a graduate of Lebanon High School. He plans to study business administration at the University of Missouri. He received the scholarship for the Ozark Region. Austin played football for four years and was team captain. He participated in FFA and earned his state FFA Degree as well as receiving the FFA Leadership Award for three years.

Grayson MilesAdvance High SchoolAdvance Grayson Miles graduated from Advance High School, Advance. She received the scholarship for the River Heritage Region, and plans to attend the University of Mississippi where she will study finance. Grayson was ranked first in her class and participated in volleyball, cheerleading, Pep Club and FBLA. She was named to the Academic All State Volleyball Team for three years.

Robert “Todd” Losby Jr.

Austin Evans

Grayson Miles

Page 12 The Missouri Banker July 17, 2014

Actions

The Missouri Bankers Association is offering a customized wall calendar for 2015, “Scenes of Missouri,” exclusively to MBA members. These calendars are a great way to thank your customers for their business and promote your bank. Rather than using stock photos and text from any calendar vendor, these full-color, high-quality calendars will uniquely promote Missouri and your bank! Your name and/or logo will be imprinted at the bottom. And you can’t beat the price – just 99 cents per calendar (plus imprint charge, tax and shipping). Photos used in the calendar are selected from among those submitted by Missouri bankers, directors, and family members. Calendar page size is 11” x 8 1/2”, calendar opened size is 11” x 18”. The imprint area is approximately 1” x 11”.

The deadline for ordering 2015 calendars will be August 29, 2014. Shipment can be expected in October. The minimum quantity that can be ordered is 100.

The $50 setup charge includes typesetting text and logo placement for imprint area (in black), if needed. The setup charge is $100 for spot color (PMS) text and/or logo. Please specify if you want black or color imprint.

If you have questions, please call Carol Barnett at the MBA at 573-636-8151 or email cbarnett@mobankers.com.

Send no money now! Orders will be billed when shipped, and shipping and tax will be

added at that time.

2015 Scenes of Missouri Calendar

2015 Scenes of Missouri Calendar Order Form

Name _______________________________________________________________

Bank ________________________________________________________________

Street Address ________________________________________________________

City/State/Zip ________________________________________________________

Phone _____________________________

E-Mail (Required for proof) ______________________________________________

Quantity (minimum order 100) @ 99 cents each ___________

Please provide us with a copy of the information you want printed on your calendar imprint area. To include your bank logo, please email a high resolution file (TIF, JPG, PDF or EPS 300 dpi file preferred) to cbarnett@mobankers.com.

_____ Please use same imprint from our 2014 Scenes of Missouri calendar.

Proof will be sent via email.

Bank/Logo Imprint Color: (The imprint area is approximately 1” x 11”.)

_____ Black ($50) ____Color ($100)

Mail Order to:Missouri Bankers Association

Attn: Carol BarnettPO Box 57

Jefferson City, MO 65102

Fax Order to:573-634-2754

Email Order to: cbarnett@mobankers.com

By Phone:573-636-8151

January February March

April May June

July August September

October November December

First State Commu-nity Bank, Farmington, St. Francois County, Missouri, returned to the Missouri Di-vision of Finance for cancel-lation the authorization for a

separate branch at 613 Bank St., Leadwood. The bank dis-continued operation of this branch on May 31, 2014. Great Southern Bank, Reeds Spring, returned to

the Missouri Division of Finance for cancellation the authorization for a separate branch at 714 S. Neosho Blvd., Neosho. The bank discontinued operation of

this branch on June 6, 2014. Charter No. 347 has been issued to Midwest Indepen-dent Bank, Jefferson City, in its conversion from a state chartered bank to a state

chartered trust company. Providence Bank, Colum-bia, Boone County, requested permission to convert its charter from a state chartered bank to a non-fiduciary trust company. The Bank of Fairport, Fairport, returned to the Mis-souri Division of Finance the authorization for a separate branch at 202 N. Main St., Clarksdale. The bank dis-continued operation of this branch on June 1, 2014. First Bank, Creve Coeur, received permission to relo-cate its already established branch from 127 Kenrick Plaza, 7435 Watson Rd., Shrewsbury to 7495 Watson Road, Shrewsbury. BTC Bank, Bethany, re-ceived permission to relocate the bank’s already established branch from 1202 N. High-way 65, Suite G, Carrollton, to 1201-2 North Highway 65, Carrollton. Table Rock Commu-nity Bank, Kimberling City, received permission to establish a separate branch at 19014 State Highway 13, Branson West. The Federal Deposit Insur-ance Corporation notified the Missouri Division of Finance that Great Southern Bank, Reeds Spring, Stone County, Missouri, was the successful bidder for select assets, de-posits, and locations of Val-ley Bank, Moline, Ill., which failed after close of business on June 20, 2014. Therefore, 13 Certificates of Authority were issued for branches in Illinois and Iowa. A charter was issued to In-vestors Community Bank, Chillicothe, in conversion of Investors National Bank from a national banking as-sociation to a state chartered bank. Call for report of condition of all state chartered banks and trust companies was issued as of the close of busi-ness on June 30, 2014.

Page 13The Missouri Banker July 17, 2014

ATM Equipment/ServiceBankers Security Safe and Vault

Raytown ..................... 877-358-0883

Diebold

Hazelwood ................. 513-600-8346

Federal Protection, Inc.

Springfield ................. 800-299-5400

FISERV

Brookfield, WI ............ 800-872-7882

Nusource Financial

Eden Prairie, MN .............. 952-9191Oppliger Banking Systems

Olathe, KS .................. 800-487-7875

TransFund

Tulsa, OK ................... 800-588-6816

Accounting/AuditingBKD, LLP

Springfield ................. 417-865-8701

St. Louis ..................... 314-231-5544

Brown Smith Wallace LLC

St. Louis ..................... 314-983-1200

CliftonLarsonAllen

St. Louis ..................... 888-529-2648

Crowe Horwath LLP

Oak Brook Terrace, IL 630-574-7878Cummings, Ristau & Associates, PC

St. Louis ..................... 888-616-2727

KPM CPAs

Springfield ................. 417-882-4300

KPMG LLP

Kansas City ................ 816-802-5200

St. Louis ..................... 314-444-1400

McGladrey, Inc.

Kansas City ................ 800-274-3978

St. Louis ..................... 314-241-4100

MIB Banc Services, LLC

Jefferson City ............. 573-636-9555

Rolf, Perrin & Associates, P.C.

Fairway, KS ................ 913-671-8600

Sims & Riley LLC

Overland Park, KS ..... 913-649-8100

The Fullinwider Firm, LLC

Kansas City ................ 816-786-7147The Whitlock Company, LLP

Springfield ................. 417-881-0145

Williams-Keepers LLC

Columbia ................... 573-442-6171

Architects/Builders/DesignersCopeland Development and

Construction Company, Inc.

Chillicothe .................. 660-707-1412

Federal Construction, Inc.

Springfield ................. 800-299-5400

Auction Services

W Purple Wave Auction

Manhattan, KS ........... 866-608-9283

West Central Auction Company

Harrisonville ............... 800-823-4094

BOLI Executive CompensationBank Compensation Consulting, Inc.

Plano, TX ................... 800-781-2099

Bank Financial Services Group

Edina, MN .................. 800-931-7782

Equias Alliance

Prior Lake, MN ........... 952-435-7747

Executive Benefits Network

Cape Girardeau ......... 573-335-0187

Brokerage/Investments

Securities

Acropolis Investment ManagementChesterfield ................ 636-449-4900

Central States Capital Markets

Prairie Village, KS ...... 800-851-6459

Edward Jones

Prairie Village, KS ...... 913-262-4662FTN Financial

Overland Park, KS ..... 800-307-5421

Memphis, TN ............. 800-307-5421

First Bankers’ Banc Securities, Inc.

Overland Park, KS ..... 866-530-2846

St. Louis ..................... 888-726-2880

First Empire Securities

Hauppauge, NY ......... 631-979-0097

Multi-Bank Securities, Inc.

Southfield, MI ............. 888-278-5558NFP Executive Benefits

Minneapolis, MN ........ 612-940-2843

Raymond JamesMemphis, TN ............. 800-564-2249

Securities America

Lavista, NE ................. 402-399-9111Stifel

St. Louis ..................... 800-679-5446

The Baker Group

Oklahoma City, OK .... 405-415-7200

UMB Bank, N.A.

Kansas City ................ 866-651-9262

Vining Sparks

Little Rock, AR ........... 800-733-6938

Cash Management Services

FIS

Birmingham, AL ......... 888-323-0310

Milwaukee, WI ............ 800-822-6758

Check Printing

Information SolutionsW Deluxe Financial Services, Inc.

St. Louis .......................800-DELUXE

.................................(800-335-8931)

Check RecoveryW Re$ubmitIt, LLC

Louisville, KY .............. 866-860-5306

CollectionsPartners Financial Services

Fenton ........................ 636-305-9877

CommunicationsSpectrio

Oldsmar, FL ............... 800-584-4653

W TextCaster

Kansas City ................ 816-746-6835

Computer Software & HardwareBanker’s Toolbox

Austin, TX ................... 888-201-2231CSI (Computer Services, Inc.)

................................... 800-545-4274D+H

Lake Mary, FL ............ 800-989-9009LightEdge Solution

Des Moines, IA ........... 515-471-1256SynTel, LLC

Jonesboro, AR ........... 800-898-2540Verafin, Inc.

St. John’s, NL, Canada .. 866-781-8433

Consulting & Training ServicesCBCS Community Bank Consulting Services, Inc.

St. Louis ..................... 314-863-1954DD&F Consulting Group

Little Rock, AR ........... 501-374-2600Pentegra Retirement Services

West Plains, NY ......... 800-872-3473W Strunk and Associates, L.P.

Kansas City, MO ........ 800-728-3116

Superior Consulting

Springfield ................. 417-887-2124

Terry Compliance Consulting

St. Louis ..................... 314-540-3122

Correspondent BankingBMO Harris Bank

St. Louis ..................... 314-543-3300

Commerce Bank

Kansas City ....800-821-2182 x22488

Country Club Bank

Kansas City ................ 816-751-9386

First National Bank of St. Louis

St. Louis ..................... 877-472-6974

Great Southern Bank

................................... 417-895-4749

MIB - Midwest Independent Bank

Jefferson City ............. 800-347-4642

Pacific Coast Bankers’ Bank

San Francisco, CA ..... 415-399-1900

TIB - The Independent Bankers-Bank

Dallas, TX ................... 800-288-4842

Texas Capital Bank

Kansas City ................ 913-549-3539UMB Bank, N.A.

Kansas City ................ 866-651-9262

US Bank

................................... 800-742-7462

Wells Fargo & Company

St. Louis ..................... 314-955-6851

Data ProcessingUnited Financial Services

St. Charles ................. 262-376-3000

Debit and Credit CardsW ABA Prepaid Card

Washington, D.C. ....... 202-663-5088Security BankCard Center, Inc.

Norman, OK ............... 405-826-5617

Vantiv

Cincinnati, OH ........... 513-900-4613

Deposit Acquisition/RetentionW Promontory Interfinancial

Network

Overland Park, KS . . 866-776-6426

Environmental DataTrileaf Environmental

St. Louis ..................... 314-997-6111

Bankers’ Resource Directory

Page 14 The Missouri Banker July 17, 2014

Bankers’ Resource DirectoryFinancial Education Services

W EverFi, Inc.Washington, D.C. ....... 319-290-9804

FundingBancAlliance

Chevy Chase, MD ...... 301-232-5400Federal Home Loan Bank of Des Moines

Des Moines, IA . . . . . 800-544-3452

Government AgenciesMissouri Agricultural and Small Business Development Authority

Jefferson City ............. 573-751-2129Missouri Development Finance Board

Jefferson City ............. 573-751-8479

Information SolutionsW SNL Financial

Charlottesville, VA ...... 434-951-4419

IRA & Qualified Plan ServicesAscensus

Brainerd, MN. . . . . . . 800-346-3860W Convergent Retirement Plan Solutions, LLC

Brainers, MN .............. 218-824-4900

IT Security ServicesGuardian Analytics

Mountain View, CA .... 650-383-9200

Insurance/BondingW ABA Insurance Services, Inc.

Call Missouri Bankers Insurance Services at 800-234-4939

Agents National TitleColumbia ................... 866-483-2763

AmTrustCleveland, OH ........... 800-682-1635

W J.T. Miller Company, Inc.Minneapolis, MN . . . . 800-328-4545

Kansas Bankers Surety CompanyTopeka, KS ................. 785-228-0000

Lee & Mason FinancialColumbia ................... 888-685-8442

Lenders Insurance Solutions Group, LLC

Ozark ......................... 417-581-8070MBA Insurance Helpline

Jefferson City . . . . . . 800-234-4939Mountain Life Insurance Company

Alcoa, TN . . . . . . . . . 800-888-6542Missouri Bankers Insurance Services

................................... 844-546-7034Spectrum Financial Services Inc.

Omaha, NE . . . . . . . . 800-421-8339

The Plateau GroupCrossville, TN ............. 800-752-8328

W The Travelers Companies, Inc.Call Missouri Bankers Insurance Services at 800-234-4939

Truman Wilson & AssociatesKansas City . . . . . . . . 816-387-1595

Winter-Dent & CompanyJefferson City ............. 573-634-2122

Investment BankingRaymond James

Memphis, TN ............. 800-564-2249Ross, Sinclair and Associates

Doniphan ................... 617-748-5532Sandler O’Neill & Partners, L.P.

NY, NY . . . . . . . . . . . . 800-635-6851The Capital Corporation, LLC

Lenexa, KS . . . . . . . . 913-498-8188UMB Bank, N.A.

Kansas City ................ 866-651-9262

Law FirmsArmstrong Teasdale LLP

Kansas City . . . . . . . . 816-221-3420St. Louis . . . . . . . . . . 800-243-5070

Berson Law GroupLeawood, KS ............. 913-397-2701

Brumbaugh & Quandahl, PCKansas City ................ 816-842-0979

Bryan Cave, LLPKansas City . . . . . . . . 816-391-7649St. Louis . . . . . . . . . . 314-259-2000

Carnahan, Evans, Cantwell & Brown, P.C.

Springfield ................. 417-447-4400Danna McKitrick, P.C.

Clayton ....................... 314-889-7145Greensfelder, Hemker & Gale, P.C.

St. Louis ..................... 314-241-9090Husch Blackwell

St. Louis . . . . . . . . . . 314-480-1500Kansas City . . . . . . . . 816-983-8000

Kramer & Frank, P.C.St. Louis ..................... 800-288-5437

Lathrop & Gage LLCKansas City ................ 816-292-2000

Lewis, Rice & Fingersh, L.C.St. Louis . . . . . . . . . . 314-444-7600

Martin, Leigh, Laws & Fritzlen, P.C.Kansas City ................ 816-221-1430

Martin Pringle, Attorneys at LawOverland Park, KS ..... 913-491-3341

Millsap & Singer, LLCSt. Louis ..................... 636-537-0110

PolsinelliSt. Louis . . . . . . . . . . 314-889-8000Kansas City . . . . . . . . 816-753-1000Springfield ................. 417-869-3353

Spencer Fane Britt & Browne LLPKansas City . . . . . . . . 800-526-6529

St. Louis . . . . . . . . . . 800-862-6869Stinson Leonard Street

Kansas City . . . . . . . . 816-842-8600St. Louis . . . . . . . . . . 314-863-0800

Thompson Coburn LLPSt. Louis . . . . . . . . . . 314-552-6000

Lending Risk ManagementSageworks

Raleigh, NC................ 866-603-7029

MarketingDigital Intersection

St. Louis ..................... 800-221-0855emfluence digital marketing agency

Kansas City ................ 877-813-6245W Gremln.com

St. Louis ..................... 314-915-8738Harland Clarke

San Antonio, TX ......... 800-382-0818

Farmington ................ 800-382-0818MPI Coin

Grafton, WI . . . . . . . . 800-459-9487W Textcaster

Kansas City . . . . . . . . 816-746-6835Wheatland Advisors

Belton ......................... 816-318-8884

Modular Banking FacilitiesMPA Systems, Inc.

Sanger, TX . . . . . . . . 888-233-1584

Mortgage LendingBanc Mac

Pawnee, IL . . . . . . . . 888-821-7729Equitable Mortgage Corp.

Springfield ................. 417-887-6688Missouri Housing Development Commission

Kansas City ................ 816-759-6600

St. Louis ..................... 314-877-1350Mortgage Services III, LLC Subsidiary of First State Bank

Bloomington, IL ......... 815-935-2300Veterans United Home Loans

Columbia ................... 573-876-2600

Office Supplies & SolutionsW All Nations Flag Co., Inc.

Kansas City ................ 800-533-3524W Office Depot

St. Charles ................. 636-358-9093

Overland Park, KS ..... 913-358-0856Systemax Corporation

Springfield, IL ............. 217-546-6646

Other FinancialProducts & Services

Affordable Equity Partners, Inc.Columbia ................... 573-443-2021

Banc Statements, Inc.Birmingham, AL ......... 877-956-5783

MBA Bankers Service Corporation’s Title Service

Jefferson City . . . . . . 573-636-8151Missouri Corn Growers Association

Jefferson City ............. 573-893-4181Tipton Systems

St. Louis ..................... 800-899-2997

Payment TechnologiesClearent, LLC

Clayton ....................... 888-366-6390FIS

Jacksonville, FL ......... 888-323-3010Tipton Systems

St. Louis ..................... 800-899-2997

Rating ServicesStandard and Poor’s Rating Services

New York, NY ............. 212-438-2028

Resorts and HotelsTan-Tar-A Resort, Golf Club, Marina & Indoor Water Park

Osage Beach . . . . . . 800-826-8272

Shredding ServicesW Cintas

Hazelwood . . . . . . . . 800-795-7368

Technology ConsultingBankOnIT

Oklahoma City, OK .... 800-498-8877CalTech

San Angelo, TX .......... 325-223-6100NetGain Technologies

Manchester ................ 314-968-2237

Travel ServicesACENDAS

Mission, KS . . . . . . . . 913-671-7700

. . . . . . . . . . . . . . . . 800-544-3019

Trust ServicesCitadel Trust Advisors

St. Louis ..................... 800-332-2963

KeyMBA Associate Members and MembersW Endorsed Vendors

Page 15The Missouri Banker July 17, 2014

Achievements

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Mary Blom was promoted to vice president and credit man-ager at Blue Ridge Bank and Trust Company, Independence. She has 24 years of banking experience and was most recently a credit analyst. Adam Hubbard was pro-moted to as-sistant vice president of commercial lending at Blue Ridge Bank and Trust Co. He has 13 years of banking experi-ence and was previously branch manager at the Blue Ridge Bank Summit Woods location.

Mary Blom H.A. Trinidad

Adam Hubbard

Ham-ilton A. Trinidad has joined Trust Com-pany of the Ozarks, Spring-field, as vice president and senior portfolio manager. He has more than 20 years of financial services experience.

Joselyn Baldner was pro-moted to senior vice president, retail mar-ket manag-er at Empire Bank, Springfield. She has more than 16 years of banking experience and has been with Empire Bank for 11 years.

Joselyn Baldner

Missy Montgom-ery has joined Em-pire Bank as vice presi-dent - loan officer at the bank in Marshfield. She has more than 22 years of experience in the financial services industry. Chelsea Kester-meyer was promoted to branch manager at the Stadium Boulevard location for Landmark Bank, Columbia. She has been with the bank since October of 2009 and most recently was assistant branch manager at the Rangeline

Missy Montgomery

Chelsea Kestermeier

location in Columbia. Kelsey Thall was promoted to branch manager at the Route B location of Landmark Bank in Co-lumbia. She has been with the bank since July of 2013 and has six years of banking experience. Kari Lampe has been named branch manager for the Cherry Hill location of Landmark Bank, Colum-bia. She most recently managed the Route B location of Landmark Bank. She has been with the bank since May of 2013.

Kelsey Thall

Kari Lampe

Joe Mose-ley has been named to the corporate board of directors for The Cal-laway Bank, Fulton. He has served as public defender and prosecuting attorney in Boone County and also represented the area in the Missouri Senate. Mary Carnahan also was named to the corporate board of directors for The Callaway Bank. She is retiring from her position as an associate with Brown Willibrand Simon Powell and Lewis, P.C.

Joe Moseley

Mary Carnahan

Page 16 The Missouri Banker July 17, 2014

Tentative Program _______________8:00 a.m. Registration

8:00 - 9:00 a.m. Breakfast Buffet

9:00 a.m. Welcome & Business Meeting

Election of Regional Directors

Introduction of MBA Staff

9:30 a.m. Banking Industry Profile

10:00 a.m. Topics of Discussion

• Federal Legislative Update

• 2014 State Session Recap

• New Laws Affecting Banks

• What’s Ahead for 2015 Session

• Meet the Candidates

11:30 a.m. Adjourn

Dates & Locations _______________Region 1 & 3 ................................................ August 13 Hilton Kansas City Airport 8801 NW 112th Street Kansas City

Region 6........................................................ August 14 Ramada Oasis Hotel & Convention Center 2546 North Glenstone Avenue Springfield

Region 7........................................................ August 27 Drury Lodge Cape Girardeau 104 South Vantage Cape Girardeau

Region 5........................................................ August 28 DoubleTree 16625 Swingley Ridge Road Chesterfield

Region 2 & 4 ............................................September 3 Stoney Creek Inn & Conference Center 2601 South Providence Columbia

4 Ways to Register _______________By Fax Fax completed form to (573) 634-2754

By Phone Call the MBA at (573) 636-8151

By Mail Complete and mail form with fees to: Missouri Bankers Association P.O. Box 57 Jefferson City, MO 65102

Online www.mobankers.com

Meet the Candidates

2014 Regional Meetings

Registration Form - Regional Meeting If registering for more than one region, please copy this form and register individual for each region. Thank You!

Please register the following individual for the region(s) checked. Please copy the form for additional registrants and additional regions.

Organization Information _______________

Bank/Firm ___________________________________

Address _____________________________________

City/State/Zip ________________________________

Phone_______________________________________

FAX ________________________________________

Registrants ___________________________

Name _______________________________________

Title ________________________________________

E-Mail ______________________________________

Region 1 & 3 Region 2 & 4

Region 5 Region 6 Region 7

Name _______________________________________

Title ________________________________________

E-Mail ______________________________________

Region 1 & 3 Region 2 & 4

Region 5 Region 6 Region 7

Method of Payment ____________________

PAYMENT BY CHECK OR INVOICEDMember Fees$50 - Per Person ......................... # ______$ _______

$40 - Each Add’l ........................ # ______$ _______

Non Member Fees$75 - Per Person ......................... # ______$ _______

$65 - Each Add’l ........................ # ______$ _______

Total amount due: ....................................$ _______

Check enclosed. Made payable to Missouri Bankers Association

Invoice the bank

PAYMENT BY CREDIT CARDMember Fees$52 - Per Person ......................... # ______$ _______

$41 - Each Add’l ........................ # ______$ _______

Non Member Fees$77 - Per Person ......................... # ______$ _______

$67 - Each Add’l ........................ # ______$ _______

Total amount due: ....................................$ _______

Credit Card Payment Visa MasterCard

Exp. Date ___________ No. ____________________

Print Name __________________________________

Signature ___________________________________

Registration Fees __________________________________________________PAYMENT BY CHECK OR INVOICEDMember Fees Non Member Fees

$50 per person $75 per person

$40 Each Add’l $65 Each Add’l

PAYMENT BY CREDIT CARDMember Fees Non Member Fees

$52 per person $77 per person

$41 Each Add’l $67 Each Add’l

Legislators and candidates are complimentary.

Registration fees cover the cost of breakfast buffet, refreshments and meeting materials.

Full refunds will be granted for cancellations received in the MBA office 7 days prior to the date of the Regional Meeting. Three days prior to the date of the meeting, no refunds will be given. Substitutions are always permitted before and the day of the Regional Meeting.