May/June 2017

IN THIS ISSUE

VBA/ABA Government Relations Summit 2017

VIRGINIA BANKERS CELEBRATE TEACH CHILDREN TO SAVE DAY AND VBA MEMBER SPOTLIGHT: GARNETTE OWENS, TRUPOINT BANK

cover VBA/ABA Government Relations Summit

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May/June 2017

in every issue

4 Calendar of Events 5 Insights 6 Legal Line

7 Washington Update 8 Compliance Corner 9 New Associate Members 10 Legislative Update 21 Worth Noting 22 Bankers on the Move

2016-2017 Officers and Directors of the Virginia Bankers Association

John G. Stallings, Chairman, SunTrust Bank

William H. Hayter, Chairman-Elect, First Bank & Trust Company

T. Gaylon Layfield, III, Immediate Past Chairman, Xenith Bankshares, Inc.

Richard M. Adams, Jr., United Bankshares, Inc.

Christopher W. Bergstrom, United Bank

Ravi Chandra, Wells Fargo Bank, N.A.

Michael W. Clarke, Access National Bank

Jeffrey V. Haley, American National Bank & Trust

Leton L. Harding, Jr., Powell Valley National Bank

Scott C. Harvard, First Bank, Strasburg

Charles Henderson, Bank of America, NA

Brad E. Schwartz, TowneBank

Joe A. Shearin, EVB

Susan K. Still, HomeTown Bank

Daniel G. Waetjen, BB&T

Michael O. Walker, Benchmark Community Bank

Robert Wojciechowicz, Capital One Financial Corporation

EDITORIAL & EXECUTIVE OFFICES4490 Cox Road Glen Allen, VA 23060804-643-7469 Fax 804-643-6308www.vabankers.org

Bruce T. WhitehurstPresident and CEOVirginia Bankers Association

Monica McDearmonCommunications & Financial Literacy

CoordinatorVirginia Bankers Association

SUBSCRIPTIONSIf you would like to subscribeto Virginia Banking,contact Monica McDearmon atmmcdearmon@vabankers.org Virginia Banking is published bi-monthly. Copyright 2017.

Statements of fact and opinion aremade on the responsibility of theauthors alone and do not imply anopinion or endorsement on the partof the officers or members of VBA.

AT-LARGE MEMBERS

VBA Benefits Corporation Chair Barry C. Elswick, TruPoint Bank

Management Services Inc. Chair M. Andrew McLean, Middleburg Bank, a Division of Access National Bank

Government Relations Committee Chair Ronald D. Haley, Blue Ridge Bank

VBA Education Foundation Chair Jeffrey M. Szyperski, Chesapeake Bank

Virginia Bankers Celebrate Teach Children to Save Day14

12

VBA Member Spotlight:Garnette Owens, TruPoint Bank

16VBA Bank Day Scholarship Program18Space Planning Strategy20

4 Virginia Banking | May/June 2017 www.vabankers.org

Visit www.vabankers.org/event-calendar to learn more about these events.Contact Walt Lyons at wlyons@vabankers.org to be added to the VBA’s Weekly Webinar Update.Calendar of

INSTRUCTOR-LED SEMINARS

VBA SCHOOL OF BANK MANAGEMENT – CHARLOTTESVILLEJULY 30-AUGUST 4, 2017

THIRD QUARTER TRUST & WEALTH MANAGEMENT PEER EXCHANGE – NORFOLKAUGUST 17, 2017

CFO CONFERENCE – RICHMONDAUGUST 28-30, 2017

FINANCIAL MANAGERS SCHOOL AT THE GRADUATE SCHOOL OF BANKING – UNIVERSITY OF WISCONSIN – MADISON, WISEPTEMBER 10-15, 2017

BSA/AML COMPLIANCE MANAGEMENT SEMINAR – KINGSPORT, TN SEPTEMBER 11, 2017

COMMERCIAL LENDING SCHOOL – GLEN ALLENSEPTEMBER 26-27, 2017

LEADERSHIP CONFERENCE – STAUNTONOCTOBER 12-13, 2017

FOURTH QUARTER TRUST & WEALTH MANAGEMENT PEER EXCHANGE – GLEN ALLENOCTOBER 26, 2017

CREDIT MANAGEMENT CONFERENCE – CHARLOTTESVILLEOCTOBER 30-31, 2017

WOMEN IN BANKING CONFERENCE – MANAKIN SABOTNOVEMBER 9, 2017

ENTERPRISE RISK MANAGEMENT WORKSHOP – GLEN ALLENNOVEMBER 15-16, 2017

VBA MANAGEMENT DEVELOPMENT PROGRAM – GLEN ALLEN SEPTEMBER 20, OCTOBER 18, NOVEMBER 14, AND DECEMBER 15, 2017 AND JANUARY 11, 2018

EBL CALENDAR OF EVENTS

MIX & MINGLE – LYNCHBURGJUNE 22, 2017

MIX & MINGLE – ROANOKEJULY 13, 2017

MIX & MINGLE – RICHMONDJULY 20, 2017

MIX & MINGLE – ARLINGTONAUGUST 17, 2017

MIX & MINGLE – NORFOLKAUGUST 24, 2017

MIX & MINGLE – ROANOKENOVEMBER 2, 2017

WEBINARS

EXCEL EXPLAINED: PIVOT TABLES – TWO-PART SERIESJUNE 19, 2017

MARKETING & ADVERTISING COMPLIANCEJUNE 20, 2017

W-9, W-8BEN AND W-8BEN-E NEW UPDATED FORMS AND INFO

JUNE 20, 2017

REGULATIONS X AND Z – 2017 REVISED SERVICING RULESJUNE 21, 2017

CRITICAL E-SIGN IMPLEMENTATION ISSUES FOR LENDING JUNE 21, 2017

LEGAL ISSUES OF CHECKSJUNE 22, 2017

COMPLIANCE PERSPECTIVES: A MONTHLY UPDATEJUNE 22, 2017

FINTECH TRENDSJUNE 23, 2017

EXCEL EXPLAINED: PIVOT TABLES PART 2JUNE 26, 2017

HMDA DATA COLLECTION & REPORTING REQUIREMENTS FOR 2018JUNE 27, 2017

COMMERCIAL REAL ESTATE LENDING: PROPERTY TYPES, LEASE STRUCTURES AND OTHER NON- FINANCIAL RISKSJUNE 27, 2017

HANDLING ACCOUNTS, CHECKS AND IRS REPORTING TO DEATHJUNE 28, 2017

ACCOUNTING ESSENTIALS FOR BANKSJUNE 29, 2017

AUDITING YOUR BANK SECRECY ACT PROGRAMJUNE 29, 2017

VBA MANAGEMENT SERVICES ENDORSES NEW PROVIDER

The board of directors of VBA Manage-ment Services Inc. recently endorsed Blue Ocean Brain. Grounded in the latest neuro-science, Blue Ocean Brain provides innova-tive, cloud-based micro-learning solutions designed to elevate employee performance – 365 days a year. Blue Ocean Brain is an engaging, critical-thinking subscription ser-vice used in the workplace to drive employ-ee performance and collaboration with a unique learning application that trains prob-lem-solving skills, promotes daily learning and builds high-performance work habits.

In just 10 minutes a day, Blue Ocean Brain transforms your people into big picture thinkers, who learn key performance skills and challenge their minds to think better so compa-nies can perform better. Better thinking. Better results. Good for business. For more information, contact Jody Hauschild, business development manager, at Jody.Hauschild@Blue-OceanBrain.com or (804) 363-9235.

For more information on any of the VBA Endorsed Pro-viders, visit www.vabankers.org or contact Matt Bruning, senior vice president, government and member relations, at mbruning@vabankers.org.

Bruce Whitehurst

President and CEO,

Virginia Bankers Association

Insights

Thirty-one years ago, the VBA heeded the above quote and made a great hire when Susan Mason joined the VBA staff. Susan

retired March 31, and if receptionists wore num-bered jerseys, we would certainly retire Susan’s number! Years ago, someone dubbed Susan the VBA Ambassador – a fitting name for someone so warm and welcoming to all. Whether greet-ing those who came to the VBA Office, or “smil-ing through the phone” – another comment often made about Susan – she always brightened the other person’s day.

Many things changed over the years Susan served as the VBA receptionist. She took every phone call until a few staff members got direct lines. She took every phone message until we got voicemail. At times I’m sure she felt like the VBA alone was keeping the pink telephone slip mak-ers in business! As technology impacted Susan’s role and duties, she always stepped up to take on new things, being the model of a team player in the process.

All of us who were fortunate to work with Susan at the VBA learned valuable lessons from her. We learned that a smile can literally change someone’s day for the better. We learned that be-ing welcoming and showing genuine interest in someone makes a positive impact on that person’s entire experience while at the VBA. We learned the value of going the extra mile for someone and the relationship dividends that pays.

When we purchased and moved into the cur-rent VBA office building in 2005, my predeces-sor, Walter Ayers, called it the home of Virginia banking. We all took this sentiment to heart and Susan Mason was the first person our members and other visitors saw any time they visited our home. Fortunately, while Susan enjoys a well-deserved retirement, her legacy of hospitality remains firmly in place with the VBA staff. We all view ourselves as VBA Ambassadors – hav-ing learned this art from the master – and we aim to carry Susan’s great legacy into the future.

Email Bruce Whitehurst at bwhitehurst@vabankers.org with any comments on this article or tweet him at @BruceTW.

The VBA Ambassador

May/June 2017 | Virginia Banking 5

“Hospitality is almost impossible to teach. It’s all about hiring the right people.” — Danny Meyer

www.vabankers.org6 Virginia Banking | May/June 2017

The Virginia General Assembly session has concluded for 2017 and a variety of new and amended Virginia statutes will take

effect July 1, 2017. Here is a summary of a few that will be of interest to bankers.

Statute of limitations for non-negotiable CDs. Sections 8.3A-118 and 8.3A-118.1 of the Code of Virginia were amended to confirm that the six-year statute of limitations that applies to negotiable cer-tificates of deposit also applies to non-negotiable cer-tificates of deposit. A Virginia bank recently settled a dispute where a former customer argued the ex-isting statute of limitations only applied to negotia-ble CDs, and therefore no statute of limitations ap-plied to non-negotiable CDs. The Virginia Bankers Association successfully lobbied for this change to protect banks from similar arguments in the future.

Adult financial exploitation. Two bills target-ing adult financial exploitation may impact bank-ers. First, § 63.2-1605 was amended to require adult protective services to inform law-enforcement agencies of all reported cases of suspected adult financial exploitation. Previously, APS was only re-quired to report cases involving $50,000 or more to law enforcement. Banks may (but are not required to) report suspected adult financial exploitation to APS, and are immune for liability if they do report. Banks considering a voluntary report to APS may want to consider that APS will now be required to inform law enforcement of all such reports.

Second, §§ 63.2-100 and 63.2-1606 were amended to broaden the definition of “adult exploitation” for the purposes of social services laws by (i) in-cluding unauthorized, improper or fraudulent use of an adult’s funds, property, benefits or other assets, in addition to illegal use of such items, and (ii) ex-panding protected adults to all adults 60 years of age or older, in addition to incapacitated adults. Among other things, perpetrators include persons serving in a fiduciary capacity who intentionally breach a fiduciary obligation to an adult. These changes may be beneficial to banks as they broaden the scope of matters that can be voluntarily reported to APS with immunity, but could be problematic if reporting becomes mandatory in future years. The VBA will monitor developments in this area and advocate for positive legislative proposals.

Payroll data breaches. An amendment to § 18.2-186.6 requires employers to notify the Attorney

General of a breach of computerized employee payroll data, and the attorney general must then notify the Department of Taxation. This legislation is designed to combat tax fraud. The VBA was suc-cessful in amending the legislation to clarify that the reporting obligation does not apply to custom-er payroll data (such as tax returns, Form W-2s or paystubs) that banks may have in their loan or ac-count files. Breaches involving customer informa-tion must continue to be reported in accordance with existing breach notification laws.

Residential rental property foreclosures. Amendments to the Virginia landlord tenant laws provide that a foreclosure of a residential rental property will (i) convert the tenants’ leases to month-to-month leases until the successor owner gives notice of termination, and (ii) convert any property management agreement into a month-to-month agreement until the new owner terminates the agreement. There were reports of tenants and property managers being confused about when and to whom to direct lease payments immediately after foreclosure sales. The amendments provide clarity for tenants and property managers, but allow new owners to quickly terminate those ar-rangements if desired.

Real estate evaluations by licensed real estate appraisers. A shortage of licensed real estate ap-praisers is delaying appraisals and loan closings in many regions of Virginia. To combat this problem, § 54.1-2010 was amended to allow licensed real es-tate appraisers to provide less intensive and less costly real estate evaluations in transactions where a formal real estate appraisal is not required, with-out complying with industry standards for formal appraisals.

Trusts, estates and fiduciary matters. Trust com-panies and fiduciaries will be interested in two bills. First, in situations where specifically devised real or personal property passes to a beneficiary subject to a mortgage or lien,

§ 64.2-531 was amended to provide a process to either (i) assign the underlying debt to the benefi-ciary and release the estate or (ii) sell the subject property and use the proceeds to satisfy the debt. This prevents issues that arise when the subject property is foreclosed on years after other assets in

LineLegal

Mel Tull General Counsel, Virginia Bankers

Association

New Virginia Laws Affecting Banking

Continued on page 21

Voice of the Industry in Washington

Partisanship in Washington in recent years has led some to believe that Congress doesn’t “do” collaboration anymore. One

party’s gain is seen as the other’s loss, making deals hard to come by.

But many bankers who came to Washington in March for ABA’s Government Relations Summit and other meetings got a slightly different vibe from the policymakers they met with. Yes, some members of Congress predictably held firm against significant changes to the Dodd-Frank Act. Yet oth-ers, informed – and perhaps worn down – by bank-ers’ true stories of how over-the-top rules were harming their customers, were positive about the possibility of finally doing something for commu-nity banks.

There’s a similar realistic yet optimistic attitude behind an effort by the two leaders of the Senate Banking Committee – Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio) – to identify legislative changes that could help spur economic growth. They won’t pursue changes they don’t believe in, of course, but both see an opportunity to find and pursue common ground.

These encouraging signs are made all the more hopeful by administration officials who have pro-actively reached out to community banks to learn what rules are acting as roadblocks to growth. In March, President Donald Trump invited nine com-munity bankers to the White House for a round-table discussion of the industry’s regulatory chal-lenges, including Vice Chairman Jeff Szyperski, chairman, president and CEO of Chesapeake Bank.

Though the bankers represented institutions with different business models, that operated in different parts of the country and were affiliated

with different national trade associations (six were part of ABA’s delegation; three were with the Inde-pendent Community Bankers of America), there was remarkable alignment in our policy positions and priorities.

The same can be said for the follow-up meet-ing that Treasury Secretary Steven Mnuchin held with 16 community bankers in April, including Jeff Dick of MainStreet Bank and Ronald Paul of EagleBank. That’s where the secretary made clear how serious the administration was about help-ing banks perform their critical role in promoting economic growth. And it’s where we dug into the specifics of issues related to mortgage, agricultural and commercial lending, as well as Consumer Fi-nancial Protection Bureau rules that are ill-tailored for community banks. There again, ABA and ICBA members were side-by-side, advocating practical solutions.

Such alignment is critical to success in Washing-ton. I’ve said before that Washington has enough challenges without trying to legislate issues on which an industry is divided. Policymakers up and down Pennsylvania Avenue are interested in ad-dressing our problems – so long as we can agree on the best solutions.

And I am confident that the solutions we have proposed – as detailed in white papers ABA shared with Secretary Mnuchin following the meeting – are what’s right for America’s banks and the com-munities they serve. The white papers (which can be found at www.aba.com/executive-orders) ar-ticulate how regulation in areas like capital, liquid-ity, fair lending and stress testing can be improved. They were informed by the deliberations in recent years of bankers who serve on our many councils and working groups and who represent banks of different business models and asset sizes. Solutions born of such diverse perspectives are always stron-ger by ensuring that they make sense for all banks.

Given how intent this administration is about using banks to spur growth, and given the interest Congress has shown in providing some community bank regulatory relief, having strong solutions with unified industry backing could just make some-thing happen in Washington again.

Rob Nichols President and CEO, American Bankers

Association

UpdateWashington

May/June 2017 | Virginia Banking 7

Email Rob Nichols at nichols@aba.com.

www.vabankers.org8 Virginia Banking | May/June 2017

CornerCompliance

Regulators accept that banking en-tails risk and understand that risk is essential to its economic function.

However, their view is that banks should know what risks they are taking on, why they are do-ing so and should ensure that risk is properly assessed. Regulators now insist that banks de-fine their risk “appetite” and risk “tolerance,” and require appetite and tolerance limits be understood and owned by the board.

For many people, risk appetite and risk toler-ance are phrases that are used interchangeably. However, they are very different concepts. The difference between risk appetite and risk toler-ance is that the appetite represents the level of risk you pursue to make a profit and the toler-ance represents how much risk you can tolerate before financial distress occurs.

Let’s see if we can further simplify the differ-ence in risk appetite and risk tolerance.

Risk appetite is a broad-based description of the desired level of risk that a bank will take while trying to achieve their strategic goals. Determining the risk appetite is a crucial first step in beginning the overall risk assessments for the bank. Risk appetite is the amount of risk that the board determines as an acceptable amount for the bank to take in a specific area. Exactly how much of the bank are they will-ing to put at risk to obtain a reward for offer-ing a specific product or service? The appetite for risk impacts the risk-taking behaviors the bank and its staff take. It is not possible to mea-sure the risk appetite quantitatively. However, when the person responsible for risk assess-ments interviews the board and other stake-holders during the initial risk identification or planning process, they can observe their risk attitude. The risk attitude sets the risk appetite. For instance, does the person state the willing-ness to obtain the goal at all costs, or are they reserved in what they are willing to gamble to obtain the goal? This is the risk appetite. A willingness to obtain the goal at all costs repre-sents a high-risk appetite and conversely, play-ing it safe represents a low risk appetite.

Once the risk appetite has been determined, the next step is to set risk tolerance levels. The risk tolerance is the degree, amount or volume of risk (typically as a percentage of capital) that the board will allow to be put at risk while trying to obtain the strategic goals. Risk tolerance describes a boundary on risk-taking and reflects the acceptable variation in outcomes related to specific performance measures linked to objectives the entity seeks to achieve.

The term risk tolerance indicates the ability to measure identified risks. Risk tolerance is tangible limits that are designed to set specific boundaries for senior management to operate. These limits, usually expressed in minimums and maximums, must be measurable, realistic and capable of being monitored. Tolerances can be qualitative and/or quantitative. Quali-tative risk tolerances may set out the bank’s risk aversion to a specific type of risk, while quantitative levels will establish limits on the amount of risk the bank is willing to take.

If the bank falls outside the established lim-its, tolerance levels must contain a plan that will bring the bank back within the desired levels. Senior management uses these limits to manage the bank and obtain the desired stra-tegic goals set by the board.

Defining and formalizing your risk appetite and risk tolerance levels will put your bank ahead of the curve in overall risk manage-ment. These two steps are crucial in beginning a risk assessment, leading to a successful over-all risk management program.

Darlia Fogarty is the director of compliance and COO of Compliance Alliance, a VBA Endorsed Provider. Her articles can be found in state banking association magazines, Compliance Alliance newsletters and several other publications. Compliance Alliance offers a wide variety of compliance support resources. To learn how to put them to work for you bank, call them at (888) 353-3933 or visit compliancealliance.com.

Is There a Difference in Risk Appetite and Risk Tolerance?

Darlia Fogarty,Director of Compliance

& COO, Compliance

Alliance

May/June 2017 | Virginia Banking 9

Welcome New Associate Members

COMPLIANCE SERVICES/ CONSULTING & TRAINING

ARC Risk and Compliance

Address: 1245 Whitehorse Mercerville Road, Suite 409 Trenton, NJ 08619-3831CONTACT NAME: ROCHELLE CASTAGNAPhone: (609) 879-4489Email: rochelle.castagna@arcriskandcompliance.comwww.arcriskandcompliance.com

ARC Risk and Compliance is a consulting company that specializes in anti-money laundering (AML) compliance and the technology that supports your AML compliance program. For them, this specialization includes BSA, OFAC, KYC/CDD and FinCEN 314(a). They are considered “the AML specialists.”

CONSULTING & TRAINING/ IT CONSULTING & SERVICES

AaSys Group, Inc.

Address: 11301 N US Hwy 301, Suite 106 Thonotosassa, FL 33592 CONTACT NAME: CHERYL BUNTINPhone: (813) 309-4482Fax: (813) 246-4576Email: cbuntin@aasysgroup.comwww.aasysgroup.com

AaSys’ Network Support division is comprised of specialists with years of experience supporting community banks, and they provide both onsite support as well as help desk options. Their expertise lies not only with knowledge of major banking applications, but they understand regulatory expectations. AaSys’ bank operations specialists bring organization to core evaluation projects. AaSys negotiates highly competitive contracts. Their Business Process Reviews concentrate on improving operational efficiencies.

ACCOUNTING/BANK ANALYSIS & DESIGN

Kaufman Hall

Address: 10260 SW Greenburg Road, Suite 710 Portland, OR 97223CONTACT NAME: COURTNEY STIVENPhone: (503) 977-0234Fax: (503) 977-0235Email: cstiven@kaufmanhall.comwww.axiomepm.com

Kaufman Hall’s Axiom Financial Institutions Suite provides sophisticated, flexible performance management solutions for banks that empower finance professionals to analyze results, model the future, and optimize organizational decision making. Solutions for budgeting and forecasting, strategy management, incentive compensation management, profitability management and funds transfer pricing, reporting and analytics, and loan portfolio analysis are delivered on a single unified platform.

INVESTMENT BANKING

FIG Partners, LLC

Address: 1175 Peachtree St. NE 100 Colony Square, Suite 2250 Atlanta, GA 30361CONTACT NAME: JOHN SCHRAMMPhone: (919) 349-8541Email: jschramm@figpartners.comwww.figpartners.com

FIG Partners is an employee owned broker/dealer and advisory firm focusing on community banks. They analyze, advise and act as a resource for community banks across the country. The insights and solutions their team brings to the table make FIG Partners the essential advisory firm for community banks and their investors.

CONSULTING & TRAINING

Applied Environmental

Address: 200 Fairbrook Drive, Suite 201 Herndon, VA 20170CONTACT NAME: WILLIAM MIKALIKPhone: (703) 648-0822Fax: (703) 648-0575Email: wmikalik@appenv.comwww.appenv.com

Applied Environmental is a Herndon, Virginia based, woman-owned small business providing professional environmental consulting services, industrial hygiene, and safety to banks and lending institutions. They specialize in TSAs, phase I ESAs, phase II ESAs, business risk assessments, vapor intrusion studies, asbestos, lead, hazardous materials surveys, radon, mold, indoor air quality surveys and many more environmental services.

MORTGAGE & REAL ESTATE SERVICES

LenderSelect Mortgage Group

Address: 804 Moorefield Park Drive, Suite 102 Richmond, VA 23236-3670CONTACT NAME: DEANNE D. RALSTONPhone: (804) 299-5300Email: deanneralston@lenderselectmortgage.comwww.lenderselectmortgage.com

LenderSelect Mortgage Group, a division of Atlantic Bay Mortgage Group, was established in 2011. Their partnership approach offers community lenders all the financial and borrower loyalty benefits of directly offering mortgages, without additional cost and risk. Customized to your needs, their models are designed to increase production and borrower retention, while ensuring compliance oversight, offering your institution unmatched return on investment.

BANK CARD SERVICERS & PROVIDERS/MERCHANT BANKCARD PROCESSING

Vantiv

Address: 8500 Governors Hill Drive Cincinnati, OH 45249CONTACT NAME: JACOB MUFFPhone: (513) 233-5380Fax: (513) 900-5323Email: jacob.muff@vantiv.comwww.vantiv.com

Vantiv is making payments smarter, faster, and easier for all their partners, as well as the consumers they serve. From the largest retailers in the U.S., to the coffee shop down the street, they are leading the transformation in payments.

COMPLIANCE SERVICES/ IT CONSULTING & SERVICES

Safe Systems, Inc.

Address: 1145 Sanctuary Parkway Suite 400 Alpharetta, GA 30009-4764 CONTACT NAME: CHRISTINE FILOSAPhone: (770) 752-0559Fax: (770) 752-1901Email: christine.filosa@ safesystems.comwww.safesystems.com

Safe Systems believes every financial institution, regardless of size, should be able to leverage the best technology to serve their community. Since 1993, Safe Systems® has provided compliance-centric IT solutions to community banks. Their network management services, security products and compliance applications are designed to significantly decrease IT costs, increase efficiency and improve compliance posture.

www.vabankers.org10 Virginia Banking | May/June 2017

Voice of the Industry in Washington

Joining the early arrival of the cherry blossoms, more than 120 Virginia bankers well represented our industry in mid-

March at our nation’s capital. As part of the American Bankers Association’s Government Relations Summit that brought more than 1,500 bankers from across the country to Washington, D.C., our Virginia bankers heard from national leaders and speakers while making the case for overdue action on key issues in Congress. As the most attended Summit in ABA history, and with record participation from Virginia, bankers brought renewed energy and determination to push our elected officials for meaningful regulatory reform.

To kick off the events, the Summit started with an Emerging Leaders Forum. Of the more than 360 at the Forum, 45 came from Virginia, includ-ing many members of the VBA’s Emerging Bank Leader (EBL) program. Attendees learned about communicating more effectively in a digital age, discussed best practices in advocacy and lead-ership strategies, and were inspired by former University of Tennessee football player Inky Johnson on how to step into greatness. The pro-gram also included a panel discussion with two newly elected members of Congress, including Republican Congressman Scott Taylor from Vir-ginia’s 2nd District based in Hampton Roads. Joined by Democratic Congressman Raja Krish-namoorthi from Illinois, Congressman Taylor shared his path and obstacles to becoming a leader and stressed the importance of active participation by bankers in educating lawmak-ers in Washington and in their districts. Net-working opportunities, advice on making the most of your LinkedIn profile and professional headshots rounded out the Forum.

The general sessions started with Fox News host and 2016 presidential debate moderator Chris Wallace delivering his take on the cur-rent status of Washington’s political scene and recounting preparing for and moderating last fall’s debate. Over the course of the Summit, several elected officials spoke on their views relative to banking issues and what to expect in this Congress, including Senate Banking Com-mittee members Mike Rounds (R-SD) and Sher-

rod Brown (D-OH), House Majority Whip Steve Scalise (R-LA) and House Financial Services Committee Chairman Jeb Hensarling (R-TX). Hensarling reiterated his intention to re-intro-duce and advance his Financial Choice Act in the coming weeks, which includes many of the regulatory reform measures supported by the VBA.

Mark Calabria, chief economist to Vice Presi-dent Mike Pence, also addressed the Summit to share the priorities of the Trump Administra-tion including key policies and agency staffing changes, while Jeff Szyperski, Chesapeake Bank chairman, president and CEO and current ABA vice chairman, facilitated a discussion with other participants who attended a recent meet-ing with President Donald Trump on regulatory relief. Panel discussions were held on effective social media advocacy tactics and regulatory agencies’ examination approaches. ABA Presi-dent and CEO Rob Nichols led a grassroots call to action during the session where nearly 1,000 bankers sent messages to Congress before head-ing to Capitol Hill. Late Show with Stephen Colbert Correspondent Paul Mecurio wrapped up the Summit with a humorous and interactive take on politics and banking.

Virginia bankers held visits with Sens. Tim Kaine and Mark Warner and Congressmen Dave Brat, Tom Garrett, Morgan Griffith, Don McEachin, Bobby Scott and Scott Taylor in the Rayburn House Office Building. Led by VBA Chairman John Stallings, president and CEO of the Virginia Division at SunTrust Bank, bank-ers urged legislators to act on key banking is-sues, including tailored regulation, repeal of the Durbin interchange amendment and removal of the outdated tax treatment on credit unions as part of tax reform. Thanks to Jeff Szyper-ski from Chesapeake Bank, John Asbury from Union Bank & Trust and Mary Ann Miller from Bank of Botetourt for leading the discussions on those critical issues. Regulatory burden’s nega-tive impact on customers, the un-level playing field with credit unions and Farm Credit, and the trickle down of regulations on community banks were other topics addressed in our meet-ings. Staff from Representatives Rob Wittman

UpdateLegislative

Matt BruningSenior Vice President,

Government & Member Relations,

Virginia Bankers Association

www.vabankers.org May/June 2017 | Virginia Banking 11

Legislative Updatecontinued

and Barbara Comstock’s offices also were able to hear from constituent bankers and Congressman Bob Goodlatte was able to greet bankers before going to vote and chair a com-mittee hearing.

The Summit concluded with the Women’s Leadership Fo-rum on Wednesday afternoon. Attendees were welcomed by ABA Chairman Dorothy Savarese. The keynote speaker, Cindy Solomon, leadership expert and author of The Courage Challenge Workbook, shared best practices on the unwritten rules of corporate success. Panelists Cara James, senior vice president and chief compliance officer, Arvest Bank, and Emily Gray, senior vice president and senior credit officer, Hardin County Bank, discussed true stories about coura-geous leadership.

While there was optimism voiced by many legislators that meaningful action is possible this Congress, the scope and timing of legislative progress remains in doubt. With chal-lenges ranging from the heavy Congressional agenda to the need for bipartisan support in the Senate, additional work is needed to overcome those obstacles and build on the good foundation laid at the Summit. That is only possible through

your continued active engagement in our grassroots advo-cacy efforts.

To make sure our unified industry voice is heard as Con-gress debates regulatory relief, the VBA will continue to offer opportunities to speak directly with legislators. We will be scheduling meetings with members of Congress this sum-mer throughout Virginia, but we need to keep the pressure on constantly. Through our Call-To-Action grassroots mes-saging program, the VBA offers an easy way to contact your federal representatives when issues arise. Don’t miss out on the chance to be heard – sign up today on the VBA website under the Engage in Government Relations tab to receive these communications and be part of the voice of the indus-try. See below for more information and please continue to stay active with us on these issues.

Email Matt Bruning at mbruning@vabankers.org with any

comments on this article.

TAKE ACTION NOW!

Now is the time to register for the VBA Calls-To-Action (CTAs). When there is an issue of extreme importance to the banking industry, a CTA is sent to urge bankers to contact

their legislators to let them know the position of the industry. There is strength in numbers, and the more bankers that contact their legislators through CTAs, the better. Don’t miss out on the chance to be heard at this crucial time – sign up today to receive

these communications and be part of the voice of the industry. www.vabankers.org/take-action-now

www.vabankers.org12 Virginia Banking | May/June 2017

More than 120 Virginia bankers were a part of the more than 1,500 bankers from across the country at the VBA/ABA Government Relations Summit March 20-22 in Washington, D.C. The Summit had record attendance this year with Virginia having the most at-tendees present of any state.

On Monday, the Emerging Leaders Forum, with more than 350 attendees, had a theme of communication and leadership. During the general session on Tuesday, Summit attendees heard from a variety of speakers and panelists, including 2016 Presidential de-bate moderator Chris Wallace, Mark Calabria, chief economist to Vice President Mike Pence, and Late Show with Stephen Colbert Cor-respondent Paul Mecurio. Virginia bankers met with members of our Congressional delegation and discussed key banking issues, making sure our industry’s voice was heard.

For more details about the Summit, please see Matt Bruning’s Legislative Update on page 10.

Bankers Discuss Tailored Regulation, Repeal of Durbin Interchange Amendment and Outdated Tax Treatment on Credit Unions

Southwest Virginia constituents with Rep. Morgan Griffith (third from right).

Matt Bruning, senior vice president, government and member relations, VBA; VBA Chairman John Stallings, president and CEO of the Virginia Division, SunTrust Bank; and ABA Vice Chairman Jeff Szyperski, chairman, president and CEO, Chesapeake Bank.

Sen. Tim Kaine (left) and Congressman Dave Brat (second from left) met with Virginia bankers.

VBA/ABAGovernmentRelationsSummit

Rep. Don McEachin met with Margaret Hodges, Union Bank & Trust, and Brenda Skidmore, SunTrust Bank.

www.vabankers.org May/June 2017 | Virginia Banking 13

More than 20 of the VBA Emerging Bank Leaders were in attendance at this year’s Summit, including the six scholarship winners: Jeromy Cox, EVB; Aaron Green, F&M Bank; Mary Ann Miller, Bank of Botetourt; Jennifer Reg-ister, Old Point National Bank; Laurie Rowe, Chesapeake Bank; and Pamela West, Bank @lantec – A Division of Dollar Bank, FSB.

Chesapeake Bank Chairman, President and CEO and current ABA Vice Chairman Jeff Szyperski facilitated a discussion about the recent meeting with President Donald Trump.

2016 Presidential debate moderator Chris Wallace, Fox News Channel.

Congressman Scott Taylor (middle) speaks at the Emerging Leaders Forum.

ABA President and CEO Rob Nichols.

Bankers with Rep. Tom Garrett (middle).

Rep. Don McEachin addresses the group of 124 Virginia bankers in the Rayburn Building.

Union Bank & Trust Summit attendees.

Representative Jeb Hensarling (R-TX), Chairman, House Financial Services Committee.

Senator Sherrod Brown (D-OH), Ranking Member, Banking, Housing and Urban Affairs Committee.

Stanley Jenks, chairman, ABA government relations council administrative committee, and James Ballentine, EVP congressional relations and political affairs, ABA, led the march to Capitol Hill.

VBA Chairman John Stallings and Bruce Whitehurst led the meetings on the Hill.

Rob Shuford, president & CEO, Old Point National Bank, and Congressman Bobby Scott.

www.vabankers.org14 Virginia Banking | May/June 2017

Bankers Celebrate Teach Children to Save Day in April

UpdateFinancial Literacy

On April 28, bankers across the Commonwealth celebrated Teach Children to Save Day, a national initiative that teaches students the fundamentals of financial literacy through interactive activities and scenarios. In Virginia, 11,196 presentations were made by 299 bankers. Twenty-eight banks participated in Virginia and will continue to make presentations throughout the rest of the year. Since 1997, Teach Children to Save and the American Bankers Association’s other financial education programs have helped reach 8.9 million students through the commitment of more than 225,000 banker volunteers.

In a Teach Children to Save lesson, bankers focus on the differences between needs and wants, making smart financial choices, budgeting, and different ways to save. This year, new lesson plans were introduced to incorporate the ways that banks serve their community and what it takes to be a banker.

To learn more about how you can get involved with financial education, visit the VBA’s website, vabankers.org, or contact Monica McDearmon at mmcdearmon@vabankers.org.

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www.vabankers.org16 Virginia Banking | May/June 2017

SpotlightMember

1. My three goals for the next year:Well, my goals may be common and somewhat cliché. I would

like to get healthier, be more organized, and be more encourag-ing to my family and co-workers. However, I have decided that my biggest goal this coming year is to be intentional; realizing that I have the personal power to fulfill any goal by being in-tentional about my actions. So, I have to choose an apple over a cookie. I have to do something with that piece of paper I have picked up on my desk for the 13th time or that basket of socks that has sat in my laundry room. And, I have to pick up the pen and write that personal note to a co-worker appreciating their contribution to our bank or send that card to a friend just to say hello.

2. My Media Mix:A. Music – I love music and my kids will tell you that I am prone to break out in song at the drop of a hat (my co-workers would probably tell you the same thing)! If you come by my office on any given day, I will probably have some type of instrumental music playing in the background, from contemporary Christian to bluegrass. My most recent download is MercyMe’s new al-bum, Lifer. I love it! Each song has such a great message. If you are a contemporary Christian music fan, I highly recommend it.

B. TV – My husband and I are empty-nesters and we find that we watch a lot of TV in the evenings … which may be the reason I don’t list time management as a goal! I like to laugh, so I am a sitcom junkie. Last Man Standing is a favorite along with Big Bang Theory. We also watch crime dramas like NCIS and Hawaii Five-O. Our DVR gets a workout!C. Books – I most recently read Women of Easter by Liz Curtis Higgs. She is a Christian author who can always bring a unique perspective to biblical stories and scripture that you may have read a hundred times. My husband is in retail sales manage-ment so we have a pretty extensive “leadership” library at home with great authors like John Maxwell and Dr. Henry Cloud. I find that we use a lot of their material for our bank’s manage-ment and leadership meetings. For pleasure reading, I like what I have termed “beach reads” by authors like Debbie Macomber and Karen Kingsbury. Their books are something light that I don’t have to think about and I can just read them for relaxation.

3. What I do when I’m not at work:My guilty pleasure on the weekends is binge watching Net-

flix. I love medical dramas so I have to get my fix of Grey’s Anatomy, Chicago Med and, most recently, Night Shift. I also enjoy social media. I have a large family, so it’s a great way to keep

Garnette Owens TruPoint Bank

Garnette Owens is vice president and human resources director for TruPoint Bank. Owens joined the bank in 1997 and will be celebrating her 20th anniversary in August. She is responsible for all aspects of human resources management. One of the more enjoyable aspects of her position is coordinating employee events such as the annual wellness run, Go Pink for a Point Day, Football Friday, Trivia Fridays and the annual employee Christmas party. She also serves as the grassroots coordinator for TruPoint’s annual BankPAC campaign. Owens serves on the VBA HR Committee and was recently appointed to the board of the Buchanan County Library. She is a past president and board member of the Buchanan County Chamber of Commerce and a past recipient of the Chamber’s Volunteer Citizens Award.

www.vabankers.org May/June 2017 | Virginia Banking 17

up with my nieces and nephews, their kids, my multitude of cousins, and the rest of my extended family.

4. You have been a member of the VBA HR Committee since 2011. How has being a member of this group enhanced your career?

I think that the most important aspect of committee member-ship with VBA is the excellent networking opportunity. Together, the members on the HR Committee have years of experience and to be able to tap into that experience is wonderful! We ask ques-tions of each other and the members share their expertise freely. As members have come and gone, I realize that I have formed friendships and relationships that will last throughout my ca-reer. I would encourage other bankers to find a committee that interests them and serve.

5. As a part of TruPoint’s Banking on Wellness Challenge cam-paign, your bank sponsors the annual Grundy Kiwanis/TruPoint Bank 5K Run, a treasured event for not only your community, but your bank employees (including an all-employee competi-tion). Tell us about how this event got started and the ways it has grown over the years.

TruPoint Bank has been the primary corporate sponsor for the Grundy Kiwanis/TruPoint Bank 5K Run for a number of years. In 2007, we were approached by one of the race directors (who happens to be a member of our board) about encouraging more participation among our bank staff. Our employees are very competitive so we came up with a team concept. VBA Benefits Corp. was using “Banking on Wellness” as the theme for the VBA wellness program. I thought the name was perfect for our event so I asked permission to use it and thus, the TruPoint Bank Bank-ing on Wellness Challenge was born.

Each year, we select captains who recruit employees to run, walk or work the event. We include all the employees in our local footprint and add any others who wish to participate on a draft list. On “Draft Day,” we meet in our board room and the captains then draft their team members. Runners receive more points than walkers or workers so draft pick advantage is sometimes key. To make matters interesting, the captains play some type of game to earn first pick of the draft. What happens in the draft room, stays in the draft room … usually. Teams are competing for a small cash prize but, more importantly, for bragging rights and the opportunity to see their winning team picture on the “Wall of Fame” in the HR department. After the teams have been selected, they select team colors, team names and sometimes even a mas-cot. We have special race t-shirts designed each year showcasing each team’s color to wear on race day.

Leading up to the event, team members train together and encourage each other. It is not unusual to see a lot of TruPoint employees walking and running the race route in Grundy in the evenings leading up to race day. Some of our employees even started the TruPoint Running Club and keep up their training throughout the year. There is lots of “smack talking” that goes on in the weeks leading up to the race. Some of the emails back and forth (saved for “Smack Talk Fridays”) can be quite comical,

and it is all in good fun. On the Friday before the race, the HR department hosts a “Pre-Race Pasta Party” and invites all of our employees to join us for lunch. We fix the entire meal and the race captains have an opportunity to have some fun with each other and their teammates. Last year our photo booth added lots of humor to the afternoon. On race day, it is an awesome sight to see our employees at the finish line cheering on their fel-low co-workers and team members. The Kiwanis Club has had several runners tell them that the event is one of their favorites because of all the comradery.

This is our 11th annual event and we have made some changes over the years to keep our employees motivated. For example, during our eighth year we added a walking challenge leading up to the event. A couple of years ago, we implemented the rule that a first-time runner would be worth extra points so some of our seasoned runners now train and coach novice runners through-out the event. Last year for our 10th anniversary, each member of the winning team who participated on race day received an extra vacation day.

This year is especially near to our hearts as the event is in honor of one of our employees who is currently going through treatments for breast cancer. Our challenge is themed “Battling for Brooke,” and all of our shirts, hats, and trophies incorporate our TruPoint pink ribbon logo.

6. How long have you been involved with the VBA and what im-pact has this involvement had on your bank and your career as a banker?

I started at the bank in August 1997 and attended my first VBA Benefits Corp. function in early 1998. I came from the human resources side of the coal industry with no banking background, so my VBA involvement has been invaluable, especially the opportunity to attend the VBA School of Bank Management. Participating in Bank School provided me with the chance to delve into different aspects of banking beyond HR. I, along with fellow TruPoint employees who were in my class, met with our CEO and CFO as our Bank School projects came up, giving us the opportunity to ask questions and gain further insight into our bank from seasoned professionals. I graduated in 2010 with a fantastic group of bankers; many of whom I still keep in contact with today.

I would be remiss if I did not acknowledge the VBA Benefits Corp. staff and the invaluable role they play in my day to day work life. They are always accessible to help with any matters that arise related to a myriad of employee benefits. We par-ticipate in almost all of the VBA benefit offerings and I love the fact that it is my “one stop shop,” especially in light of the recent changes to healthcare with the Affordable Care Act. I know that the Benefits Corp. staff will work on our behalf to provide us with excellent benefit offerings and keep us compli-ant with changing regulations. Participating in the VBA plans has allowed us to offer our employees an excellent benefit package that makes me proud to be associated with Virginia Bankers Association and TruPoint Bank.

www.vabankers.org18 Virginia Banking | May/June 2017

The third Tuesday in March was declared Bank Day by the Virginia General Assembly in 1991, and this year, more than 400 students participated

in this important program at 33 different Virginia banks. Sponsored by the VBA Education Foundation and the VBA Emerging Bank Leaders, the VBA Bank Day program awarded a total of $26,000 in college scholarships to 12 high school seniors. Six regional winners received a $2,500 schol-arship, six honorable mention winners received a $1,000 scholarship, and one of the six regional winners went on to be named the statewide winner, receiving an additional $5,000 college scholarship.

The purpose of Bank Day is to expose students to the bank-ing industry and provide an opportunity for them to learn about banking, financial services and the vital role banks play in their communities. Students write an essay based on their experience for a chance to win college scholarships.

This year, banks provided students with tours of their facili-ties, overviews of roles and responsibilities in various depart-ments, visits with local businesses, and tips for how to prepare for their financial futures.

Thank you to the banks who hosted students for Bank Day. For more information about the program, please contact Mon-ica McDearmon at mmcdearmon@vabankers.org.

More than 400 Virginia High School Students Participate in

VBA Bank Day Scholarship Program

www.vabankers.org May/June 2017 | Virginia Banking 19

VIRGINIA COMMUNITY

DEVELOPMENT CORPORATION

1840 W. Broad St., Ste. 200Richmond, VA 23220

Ph 804.343.1200 www.vacdc.org

Investing time, knowledge and capital in the

neighborhood revitalization e�orts of

community organizations.

Participating BanksBank of BotetourtBank of LancasterBank of McKenneyBenchmark Community BankBlue Ridge BankBurke & Herbert BankC&F BankChesapeake BankCitizens Bank & Trust CompanyCitizens Community BankCity National BankEssex BankEVBF&M BankFirst BankFirst Bank & Trust CompanyFirst National Bank

HomeTown BankMiddleburg BankNew Peoples BankOak View National BankOld Point National BankThe Bank of FincastleThe Bank of MarionThe Farmers Bank of AppomattoxThe Fauquier BankTowneBankTruPoint BankUnion Bank & TrustUnited BankVillage BankVirginia Partners BankWells Fargo

www.vabankers.org20 Virginia Banking | May/June 2017

StrategySpace Planning

Achieving operational excellence and having the correct amount of

space to do so is becoming an increasingly pressing item on the agendas of bank CEOs na-tionwide – even more so given the recent escalation of merg-ers and acquisitions within the banking industry.

Whether an institution ex-pands due to M&A activity or strictly through organic growth,

many times operational effi-ciencies and productivity gets lost in the shuffle. And when you add increased outsourcing and technological advances into the mix, the operational land-scape is changing significantly.

While many banks excel at forecasting and planning, un-fortunately, many seem to fall short in providing efficient op-erations space. Rather than hav-ing a calculated space strategy that addresses concerns for the foreseeable future, many in-stitutions operate in a reactive manner rather than a proactive method. How many times have you hired an employee with no place to put them? Have you ever had to turn a board room into a temporary office? Or pos-sibly, have several departments that need to work simultane-ously together but are located in two different buildings?

A lot of these inefficiencies and unproductive processes can be solved by going through a well thought out, comprehen-sive space planning exercise. Space planning forces bank management to take a thorough look at the usage of existing space and the needs of the cur-rent number of employees, as well as future expectations and needs.

The first step in space plan-ning is to complete a space re-quirement survey. This involves a series of questions related to existing conditions, staffing re-quirements and projections and department adjacencies and workflow, where input from key

management and department personnel is essential to the suc-cess of the plan.

Once the survey is completed, a series of charts and graphs can be created which visually outlines the projected number of employees and the estimated amount of space needed to effi-ciently accommodate them over a 10-year period. This data is paramount in providing man-agement a good summary as to whether current office space is going to be sufficient for achiev-ing existing and future optimal usage of operations space.

The final step to any space planning strategy includes analyzing the data and deter-mining whether or not exist-ing space can be configured as to maximize total square foot-age and accommodate current requirements, as well as future needs, all the while streamlin-ing the organization and cre-ating winning conditions. It is at this point that management will have the necessary data to make the difficult decision of whether to renovate existing space to accommodate the space necessities of the organization or whether the organization needs to look outside for a pos-sible new location. Either way, the management team will be equipped with the necessary information to make a knowl-edgeable decision.

When it comes to space plan-ning, you have the choice to either be reactive or proactive.

Space Planning: Are You Reactive or Proactive?

Jim Caliendo, President & COO,

PWCampbell

Continued on next page

FARMERS AND MINERS BANK ANNOUNCES NEW CEO

Terry Estep has stepped down as CEO after 37 years at Farmers and Miners Bank, but will remain as president. William Sage III will serve as executive vice president and chief executive officer and C. Shawn Moore will serve as executive vice president and chief operating officer. Best wishes to all in their new roles.

NOST NAMED PRESIDENT AND CEO OF VIRGINIA COMMONWEALTH BANK

In March 2017, Eric Nost joined Bay Trust and Wealth Management Group, part of Bay Banks of Virginia, a holding company for Bank of Lancaster, which recently merged with Virginia Commonwealth Bank, and will serve as president and CEO of the new bank subsidiary, Virginia Commonwealth Bank Trust and Wealth Management. Congratulations to Eric on this new role!

VAN DYKE APPOINTED AS CEO AND DIRECTOR OF CARTER BANK & TRUST

Litz Van Dyke was named CEO and director of Carter Bank & Trust after the passing of Worth Carter Jr. Litz was previously the bank’s executive vice president. James Haskins, previously the vice chairman, was elected chairman of the board and current President and Chief Administrative Officer and Director Phyllis Karavatakis was elected vice chairman.

www.vabankers.org May/June 2017 | Virginia Banking 21

NotingWorth

WE WILL MISSWorth Harris Carter,

Carter Bank and Trust, passed away April 7, 2017, after a brief battle with cancer. Carter is remembered for his brilliance, gen-erous spirit, and an eye for solid business plans and talent. Over the course of his 42-year career, Carter found-ed 10 community banks and in 2006, combined them all into a single institution that bore his name, Carter Bank and Trust. Carter served on the Martinsville School Board for 21 years and was chairman for 11 years. He graduated from the University of Richmond and the Univer-sity of Virginia Law School. The University of Richmond presented Carter its Alumni Distin-guished Service Award in 2002. Our thoughts and prayers are with Carter’s family during this difficult time.

Legal Line continued from page 6

Space Planning Strategy continued

the estate have been distributed and are no longer available to satisfy a foreclosure deficiency.

Second, Virginia adopted the Uniform Fiduciary Access to Digital Assets Act, which provides rules governing how indi-viduals may grant fiduciaries (executors, personal representa-tives, trustees, guardians or conservators) access to the indi-vidual’s digital assets (computer files, web domains, virtual currency and online accounts such as social media accounts or cloud-based remote storage accounts). The act also provides rules that govern when and how service providers that hold digital assets (such as social media companies and cloud-based storage providers) must provide those assets to fiduciaries. The digital assets covered by the Act may include electronic bank account information or statements, but do not include the funds or other assets in those accounts, which are not electronic assets. The fiduciaries’ rights to those underlying non-electronic funds or assets continue to be governed by existing state laws that

govern the rights and obligations of fiduciaries to such assets. Virginia’s existing law governing fiduciaries’ access to digital assets was repealed.

Historic rehabilitation tax credit limit. In an effort to bal-ance the budget, legislators amended § 58.1-339.2 to limit the amount of historic rehabilitation tax credits that may be claimed by a taxpayer to $5.0 million per year for taxable years 2017 and 2018. While this change does not directly impact banks, it could negatively impact the profitability of some development proj-ects banks finance. The VBA will monitor any impact this legis-lation may have on bank lending and support further legislation in this area if necessary.

For more information about these and other new Virginia laws affecting banking, contact Mel Tull, VBA general counsel, at mtull@vabankers.org or (804) 819-4710. This article has been prepared for informational purposes only and is not legal advice.

Putting together a well thought out 10-year space plan does take some time and commitment from management, but in the long run can ensure productivity and operational efficiencies within your organization – plus, it ensures your board room remains a board room and not your newest employee’s office!

James G. Caliendo is a former financial executive and now pres-

ident and COO at 107-year-old retail services and design/build firm PWCampbell, a VBA Endorsed Provider. In the past 10 years alone, PWCampbell has influenced over 4 million square feet of banking locations and worked with over 175 financial institutions to create engaging, impactful and scalable solu-tions for every sized project. To learn more about PWCampbell, please visit www.pwcampbell.com.

www.vabankers.org22 Virginia Banking | May/June 2017

MoveBankers on the

American National Bank & TrustAngie Apgar – Vice President, Mortgage Originator

Bank @lantec, A Division of Dollar Bank Jaison Wojdyla – Lead, Virginia Mortgage Division

Bank of BotetourtAngela Brogan – Real Estate Loan Processor and

Specialist

BB&T Mike Lang – Residential Construction Specialist

Benchmark Community Bank Chris Bailey – Vice President, Financial Consultant,

Team LeadClyde Bailey – Vice President, Senior Loan Officer,

Facilities ManagerBillie Jo Chernault – Vice President, Assistant

Branch ManagerMatthew Newton – Assistant Vice President, IT

ManagerBeth Robertson – Vice President, Senior Branch

ManagerTammy Robinson – Vice President, Assistant

Branch ManagerRhonda Wilson – Vice President, Senior Branch

Manager

BNC Bank Trisha Thacker – Branch Manager

Carter Bank & TrustDawn DeHart – Senior Vice President, Director of

Community Development LendingJudson Foster – Senior Vice President, Regional

Commercial Banking ManagerFelisa France – Assistant Vice PresidentJohn Gardner – Vice President, Director of Loan

OperationsTonya Jones – Bank Secrecy Act OfficerWilliam “Andy” Meece – Director of Special

AssetsDavid Peterson – Senior Vice President, Chief

Credit OfficerRichard Prillaman – Director of Loan ReviewJ. Douglas Thompson – Vice President, Senior

Credit Administrator

Community Bankers Trust Corp.William Hardy – Board of Directors

Essex Bank Kyle Hendricks – Vice President, Commercial Real

Estate Lender

First Tennessee Bank Ned Witthoefft – Small Business Relationship

Manager

Fulton Bank Jennifer McDermott – Commercial Relationship

Manager

George Mason MortgageDavid Falconer – Operations ManagerHaley Miles – Loan Officer Assistant

HomeTown Bank Matt Hubbard – Vice President, Commercial

Banker

Powell Valley National Bank Matthew Eades – Vice President, Business

Development OfficerJim Swartz – Vice President, Credit Review OfficerKaren Wright – Auditor Dawn Yarber – Loan Administration Specialist

TowneBank Nancy Bagranoff – Board of Directors

TowneBank MortgageTroy Pratt – Mortgage Loan Officer

Union Bankshares Corp.Jeanie Bode – Senior Vice President, Construction

Lending

Are your bankers on the move? Email submissions to mmcdearmon@vabankers.org

Angie Apgar Angela Brogan Rhonda WilsonChris Bailey Tammy RobinsonJaison Wojdyla Beth RobertsonClyde Bailey Matthew NewtonBillie Jo Chernault Trisha Thacker

Judson Foster John Gardner Andy Meece J. D. ThompsonDawn DeHart Felisa France Tonya Jones David Peterson Richard Prillaman Jennifer McDermott Matt Hubbard

Matthew Eades Jim Swartz Dawn YarberKaren Wright

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