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Madison, WI 53719. Ph: (608) 833-4229 Fax: (608) 833-8114. E-mail: [email protected] communitybankers.org. Wisconsin Community Banking News is provided at no cost ...
Volume 12, No. 5 September/October 2012

Contents Attention to Detail Motivates New CBW Chairman. . . . . . . . . 4 What Makes CBW Effective? Each and Every One of You. . . . . 5 Caldwell Named Banker of the Year. . . . . . . . . . . . . . . . . . . . . . . 9 Survey Identifies Issues with Community Bank Boards. . . . . . 12 CBW Honors Service to Member Banks. . . . . . . . . . . . . . . . . . . 14 DFI Chief: Wisconsin Banks Show Improved Profitability . . . 20 Election 2012: Predictions, Prognostications . . . . . . . . . . . . . . 26 Expanding Electronic Payments Can Increase Risks . . . . . . . . 27

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Inside…

4 Attention to Detail Motivates New CBW Chairman 5 What Makes CBW Effective? Each and Every One of You

9 Caldwell Named Banker of the Year 12 Survey Identifies Issues with Community Bank Boards 14 CBW Honors Service to Member Banks 20 DFI Chief: Wisconsin Banks Show Improved 26 27

Profitability

Election 2012: Predictions, Prognostications Expanding Electronic Payments Can Increase Risks

Published by Community Bankers of Wisconsin through Client Communications Editor and Publisher: Doris Green Contributor: Mary Lou Santovec Art Director: Lisa Imhoff, Grey Horse Studio Editorial or subscriptions: e-mail Doris Green at [email protected] or fax (608) 583-2084 Advertising: Jami Erickson, Director of Member Programs and Association Administration, at (608)833-2386 or contact Doris Green COMMUNITY BANKERS OF WISCONSIN BOARD OF DIRECTORS 2012-2013 CHAIRMAN: Paul Hoffman, Monona State Bank CHAIRMAN ELECT: Stan Leedle, Choice Bank, Oshkosh VICE CHAIRMAN: Jerry O’Connor, The First National Bank of Waupun PAST CHAIRMAN: Jim Tubbs, State Bank of Cross Plains SECRETARY/TREASURER: Steve Bell, Community State Bank, Union Grove ICBA DIRECTOR: Rick Busch, Royal Bank, Gays Mills ICBA DIRECTOR: Butch Pomeroy, International Bank of Amherst Steve Zeman, Union State Bank, West Salem Paul Kohler, Charter Bank, Eau Claire Dennis Doyle, Great Midwest Bank, Brookfield Fred Siemers, River Cities Bank, Wisconsin Rapids Martin Reinhart, Heritage Bank, Marshfield John Slatky, Bank of Luxemburg Tom Armstrong, First National Bank, Park Falls Bill McDonald: Greenwoods State Bank, Lake Mills Mary Bomkamp: Highland State Bank Thomas Oehler, Peoples Bank, Elkhorn CBW STAFF President and CEO: Daryll Lund Executive Vice President: Rick McGuigan Director of Member Services and Information Management: Sandra Gruber Director of Member Relations and Public Affairs: Shannon Schlueter Director of Member Programs and Association Administration: Jami Erickson

Community Bankers of Wisconsin 455 S. Junction Rd., Ste. 101 Madison, WI 53719 Ph: (608) 833-4229 Fax: (608) 833-8114 E-mail: [email protected] Wisconsin Community Banking News is provided at no cost to CBW members. The current and past issues are available on the CBW Web site: www.communitybankers.org.

Every Community Deserves a Community Bank Paul Hoffmann, CBW Chairman and President and CEO, Monona State Bank

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hank you for the honor of serving as your 2012 – 2013 Community Bankers of Wisconsin chairman. It is a humbling experience, as well as a great privilege. We have a fantastic association, thanks to the efforts of many committed individuals. I much appreciate the dedication and hard work of Jim Tubbs last year, in addition to the continued commitment of the entire board, our president and CEO Daryll Lund, Rick McGuigan, and the rest of the CBW staff. I’m also appreciative of the very necessary support of my wife and the Monona State Bank Board of Directors. The reason I got involved with Community Bankers of Wisconsin is likely the same reason that many of you became involved: Daryll Lund reached out, and his passion ignited my own enthusiasm for our industry. Our communities need community banks more than ever. As the nation’s economic recovery from the Great Recession makes slow headway against the continuing foreclosure and European crises, our local, independent banks continue to offer help and advice to Wisconsin consumers and small businesses. As thousands of pages of new regulations seem aimed at overwhelming community banks every year, CBW and ICBA provide us with a strong megaphone in Madison and in Washington, D.C. What we do every day is important. In the face of burdensome legislation and regulations, we cannot give up. This is a fight that’s very much worth fighting for. Every community deserves a community bank— that’s our rallying cry in 2012. We don’t need more mergers, acquisitions, and consolidation. We need a thousand more community bankers across this state and nation. America doesn’t need more big banks; America needs more community banks. CBW is the best voice for community banking in the state. I need your help to preserve and embolden CBW’s strong voice this year. When you support Community Bankers of Wisconsin and its advocacy efforts, you’ll get more out of it than you put in it. That’s a promise.

On our cover ... Paul Hoffmann, President and CEO of

Monona State Bank, takes the helm as chairman of the Community Bankers of Wisconsin. The de novo bank was created in 1991. It has assets of $335 million and 86 employees.

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Attention to Detail Motivates New CBW Chairman Mary Lou Santovec

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aul Hoffmann, the new chairman of the Community Bankers of Wisconsin and the president and CEO of Monona State Bank firmly believes success is in the details. P e r h a p s i t ’s because he’s spent many hours helping his wife, Sharon, an independent communicator and editor, proofread and lay out newsletters. Along the way, this “son of a banker” — his father was the president of First National Bank in Bangor — discovered valuable lessons about branding, marketing, and keeping an unwavering eye on the bottom line. Hoffmann and his wife both grew up in the small, La Crosse County community of 1,500. “My father helped recruit her father to come back to town and own the grocery store.” Coincidentally, the bank and the grocery were adjacent to each other. His early years found him helping at the bank, doing tasks like sorting the money from the deposit of the local stock car racetrack. “I think I got paid a dollar and my dad then took me to lunch.” Hoffmann attended St. Mary’s University in Winona, Minn., majoring in business administration with an emphasis in management and humanities and believing he was not going to be a banker. He moved to Madison after graduation to be closer to Sharon, and took a job that his father had warned him wouldn’t pan out, which he discovered when his paycheck bounced.

Early Experience Pays Off

Instead of asking his dad for the rent money, Hoffmann applied at M&I Bank and was “hired on the spot” as a driveup teller. Intending to work there only for a short time, fate kept interrupting and giving him promotions. “I think it was because of my experience with my father’s community bank where you did whatever needed to get done,” Hoffmann said about his career advancement. “You 4

Wisconsin Community Banking News

don’t have as many silos and departments in a community bank so you learn many different areas of how the bank operates.” After spending five years with M&I, his father recommended his son interview for an account manager position at the Federal Reserve Bank of Minneapolis. The couple moved to the Twin Cities in 1991. At the Federal Reserve Bank, Hoffmann called on banks in the 9th District to help improve their efficiency with Fed services. “Working at the Fed was like getting a graduate degree in banking. It was one of the most challenging and rewarding times of my career.” He later earned his degree from the Graduate School of Banking at UW-Madison. When children started coming, days on the road became more challenging. Having met Bob Gorsuch, then president of the Park Bank, Madison at a national meeting, Hoffmann was offered the job as vice president of operations. He was 32. Although Hoffmann admits he didn’t have a clue as to what he didn’t know, he knew that he had the “tenacity and willingness” to work hard. Knowing that the succession planning didn’t include him for the top job, when the position of president of Monona State Bank opened up in 2007, he applied and was appointed president. Monona State Bank was started as a de novo in 1991 when a group of local business people decided that the city needed a community bank again. The original bank had been sold to Valley Bank and is now in the BMO Harris portfolio. Now with three locations, two in Monona and one in Cottage Grove, in a little over 20 years the bank has grown to $335 million in assets and 86 employees. Future plans are centered on expanding the bank’s footprint in the Madison area and adding “new, exciting contributors.” As a “true community bank, we are widely held by a number of shareholders with no one owning more than 7 percent.” Real estate, with an emphasis on residential, is the bank’s focus although its commercial real estate portfolio

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has grown to where six full-time business bankers are needed to serve the customers. Not being able to predict the future was probably a blessing for Hoffmann or he may have decided to stay with Park Bank. Stepping into the leadership role at Monona State Bank near the beginning of the Great Recession was a challenge many would consciously avoid.

Takes on Tough Jobs

But Hoffmann is not one to shy away from a challenge. “I think some of the most important things I tried to do over my career [were] to make whatever position I was in at the time even better [and] more successful. I would take on jobs or departments that had issues and opportunities and tried to make them better. I would always try to surround myself with some of the smartest people I could find and give them opportunities to succeed.” He also credits his wife, Sharon, for her support of his career. “I would not have been able to have done the things I have accomplished without a partner who encouraged and supported me all along the way.” The couple have four children, two boys and two girls ranging in age from 11 to 18. As members of the Blackhawk Ski Club, the family spends quite a bit of free time around ski hills. “All of my kids have been ski jumpers at one time or another,” with the three youngest still competing in Wisconsin. His oldest daughter, Elyse, competes nationally and has jumped in Finland, Lake Placid, NY, and Park City, Utah. Having worked for a large regional bank, the Federal Reserve Bank, and a couple of community banks, Hoffmann insists his true calling is with a community bank. “I think being at a community bank gives you the ability to have the most direct impact on the prosperity of your local community … it’s also easier to see the personal impact that you can make on an organization and the community.” Community impact goes beyond dollars and cents. Over 86 percent of the bank’s employees volunteered in continued on page 6

What Makes CBW Effective? Each and Every One of You After the federal banking regulators (OCC, FDIC, and Federal Reserve) released proposed rules this summer to implement the Basel III regulatory capital reforms, CBW worked with ICBA to oppose these rules that would treat community banks like the largest, systemically important, and internationally active banks. We sought exemptions for community banks, because imposing complex and excessive capital standards would threaten economic recovery and limit lending, investment, and credit availability in Main Street communities. Many of you joined this advocacy effort by calling or writing Washington to share your concerns over these proposed rules and many of you signed the CBW petition opposing them. Thank you for your collective efforts. Your help no doubt played a role in the creation of a letter signed by 53 U.S. senators urging the federal agencies to consider protection for community banks when considering Basel III standards. Remarkably, the letter was signed by senators from both major parties in late September, during the height of election campaigns. What makes CBW and ICBA so effective in Madison and D.C. is each and every one of you. Community bankers represent a powerful grassroots advocacy with your community banks being headquartered in almost every legislative and congressional district across this state and country. A recent study by the Congressional Management Foundation found that 46 percent of congressional staff say a constituent visit to a member’s Washington office has “a lot” of influence on an undecided member—compared to just 8 percent who say a visit from a lobbyist has the same influence. When CBW schedules our D.C. visits, congressional staff always asks, “Is a constituent banker going to be present for the meeting?” Community bankers are a powerful political force when mobilized and involved. Community bankers are also now recognized as a unique and absolutely critical player to local, state, and national economies. It is important however to recognize that this branding of the words, “community bank” did not happen by acci-

dent. You have played a critical role in educating lawmakers, regulators, and the general public that you are different than other financial services providers. These leaders often know you personally. They know you as the community banker who enabled them to buy farmland years ago, the one who attended a local fundraiser, or cared enough to voice an opinion about proposed legislation. Our industry is built on personal relationships, in Madison and Washington as much as in our own communities. Community bankers have a positive story to tell. Be proud to say you are a community banker. When someone asks you what you do for a living, don’t say you’re a “banker,” say you’re a “community banker.” There is a difference. Never give up the brand “community banker.” Maintaining our brand will continue to be important as we move forward and confront new regulatory and economic challenges. One challenge is that Congress still needs to act and extend the TAG program before year-end. Approxi-

Daryll Lund, CAE, CBW President and CEO

mately $1.4 trillion in bank deposits are insured by the FDIC TAG program. Of that total $212 billion of those deposits are at banks with less than $15 billion in assets. If Congress fails to act, these important deposits will become uninsured overnight. Our national affiliate, ICBA, is particularly important in helping protect your franchise value that is being attacked in Washington D.C. ICBA fights daily in partnership with CBW and other state affiliate associations to draw a clear distinction between community banks and the too-big-to-fail banks. Thank you for your commitment and support of both CBW and ICBA.

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continued from page 4

the community for at least 20 hours last year. Hoffmann himself is on the board of the local chamber of commerce, chairs the board for Goodwill Industries of South Central Wisconsin, and is a new member of the downtown Rotary Club of Madison. Becoming chairman of the Community Bankers of Wisconsin was not one of Hoffmann’s goals. But when he was asked to take on the role, he agreed to, saying, “I am passionate about this industry and especially independent community banking. I was always taught that if you want to get something out of an organization then you need to put something in.” One of Hoffmann’s major goals for the association is to “make sure that CBW is still the most active voice for independent community banking in the state. I really believe that we are in a battle for the public opinion for banking in general and we need to get our message out.” He supports additional education for bankers and opportunities to encourage

young people to see banking — especially independent community banking — as a career. Because the large regional banks where many community bankers received their training have cut their training budgets, the issue of how to grow our own is a top priority. Regulations should not become the reason for fewer community banks. “Every community in this state deserves at least one community bank dedicated to their prosperity.” Mergers and acquisitions are an unfortunate reality in a volatile economy, but “I don’t want community banks to disappear because they feel they can’t survive anymore because of what happens out of Washington…” Because of the existence of the Community Bankers of Wisconsin, relationships are formed and the industry as a whole is strengthened. The community itself is empowered when community bankers run the local chamber or economic development organization. “We’re a stronger state because of the community banks.”

Badger Bank: 75 Years of ICBA Membership

FORT ATKINSON—Badger Bank was recently recognized by the Independent Community Bankers of America (ICBA) for 75 years of membership. “ICBA is fortunate to have had Badger Bank as a member for 75 years,” said Camden R. Fine, ICBA President and CEO. “It’s community banks like Badger Bank that drive economic stability and prosperity on Main Street and make their communities better places to work and live.” “Badger Bank is proud to be part of a nationwide network of community banks that advocate on behalf of this great industry and its valued customers,” said Steve Dehnert, Badger Bank president and CEO. “Badger Bank looks forward to continuing its role with ICBA to help strengthen and preserve the community banking industry so that consumers across the nation can experience the difference of working with a local community bank for years to come.”

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CBW Names New Directors, Officers Paul Hoffmann, who has served as president and CEO of Monona State Bank since 2007, was elected 2011-2012 chairman of Community Bankers of Wisconsin during the association’s annual meeting at the Wilderness Resort in Wisconsin Dells on Sept. 12. Other newly elected officers were: Secretary/Treasurer: Steve Bell, Community State Bank, Union Grove Vice Chairman: Jerry O’Connor, The National Bank of Waupun Chairman Elect: Stan Leedle, Choice Bank, Oshkosh Jim Tubbs, president and CEO of the State Bank of Cross Plains, continues on the board as past chair. In addition, the following candidates were elected as directors: District 2: Tom Armstrong, The First

National Bank of Park Falls District 4: John Slatky, Bank of Luxemburg District 6: Bill McDonald, Greenwoods State Bank, Lake Mills District 8: Mary Bomkamp, Highland State Bank At-Large Directors: Thomas Oehler, Peoples Bank, Elkhorn Other continuing directors include:

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District 1: Paul Kohler, Charter Bank, Eau Claire District 3: Steve Zeman, Union State Bank of West Salem District 5: Fred Siemers, River Cities Bank, Wisconsin Rapids District 7: Dennis Doyle, Great Midwest Bank, Brookfield

Jim Caldwell Named Community Banker of the Year MADISON—The Community Bankers of Wisconsin (CBW) named Jim Caldwell, president and CEO of First Citizens Bank, Whitewater, as its 2012 Community Banker of the Year at its annual conference in September. The selection committee included Paul Hoffmann, CBW chairman, Monona State Bank; Stan Leedle, Choice Bank, Oshkosh; Toby Steivang, 2010 Community Banker of the Year, Walworth State Bank; Ken Thompson, Capitol Bank, Madison; and Mike Mach, Wisconsin Department of Financial Institutions. In accepting his award, Caldwell noted that being a community bank president is like being a coach—he rides on the shoulders of his associates. “This is really a tremendous recognition and award you give out each year. [It’s] a very special recognition … and very meaningful. Thank you very much for this acknowledgement.” Caldwell joined First Citizens as executive vice president in 1974, becoming president in 1979. Since 1974, the bank’s

assets grew from $19 million to $250 million. First Citizens is a 5-Star Bank, the highest ranking given by Bauer Financials Rating System. Growing up near Morrisonville—a small community north of Madison founded by his grandfather—Caldwell earned BS and MBA degrees from the University of Wisconsin-Madison. He also holds a Series 7 securities license and is a licensed insurance agent and real estate broker. Before joining First Citizens Bank, he served as VP of correspondent banking and commercial lending at First Wisconsin (now part of US Bank). Very active in area organizations, Caldwell has served on the University of Wisconsin-Whitewater Foundation Board of Directors, the board for the Fort Memorial Hospital Foundation, the Whitewater Area Chamber of Commerce, and the Whitewater Kiwanis Foundation. For 30 years, he’s served on the board of Fairhaven Senior Services, which offers housing and healthcare

options to seniors in Whitewater. Two years ago, Caldwell and his wife, Julie, donated 23 parcels of land to the UW-Whitewater Foundation. The $1 million gift will be used to help recruit top talent to the university and provide local housing for faculty and staff. Caldwell has also served in many capacities within the state’s banking industry, including on the boards of Palmyra State Bank, the Federal Home Loan Bank, the Wisconsin Bankers Association, and Bankers’ Bank. Serving the area since 1863, First Citizens Bank has three offices in Whitewater and one in East Troy. It will celebrate its sesquicentennial in 2013.

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Survey Identifies Issues with Community Bank Boards Mary Lou Santovec The road to better Tier 1 capital runs right through a community bank’s board of directors. That’s one finding from an ongoing survey conducted by the Minneapolis-based Integrated Governance Solutions (IGS) and commissioned by Baker Tilly. Surveying a group of community banks with assets between $200 million and $5 billion located in Iowa, Minnesota, Illinois, Wisconsin, and the Dakotas, IGS asked 28 questions all of which “aligned with the general expectations of bank boards,” said Tim Kosiek, a partner with Baker Tilly. “We took what were very generic questions and aligned them with bank board regulators guidance using the OCC’s Bank Directors Handbook.” Responses were aligned with the key indicators on the banks’ call reports (ROA, ROE, Tier 1 capital) to identify gaps. The headline results from the first wave of responses revealed an interesting statistic: 74 percent of boards felt

they were well informed and that the information they receive is reliable and timely. But, on a scale of 1 to 5, participants rated their board’s recruiting, orientation, training, and tenure/removal processes at only 2.5. They apparently felt they were unable to effectively use the information they were given to make decisions. “Many seemed to feel they were not in a position to do what they were supposed to do.” Many banks are unable, due to resources, to generate periodic data on a regular basis that would help board members make decisions. Survey responses suggest that boards should evaluate whether directors are receiving information that is timely, comprehensive, and appropriate to the risk management component of the bank. They should also evaluate their membership in light of current realities. Once viewed as a local business club or business development group, the number one priority of community bank boards is fiduciary responsibility. Boards

must have defined terms in recruiting, retaining, and removing directors. For more information contact John Maddente at Baker Tilly, [email protected]

2012 CBW Conference Prize Winners

Ed Helmueller, left, with Mike Marx and Daryll Lund

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Attendees won a variety of prizes and drawings at the 2012 Community Bankers of Wisconsin Management Conference and Expo, held in September at the Wilderness Resort, Wisconsin Dells. The big winner of the conference was Ed Helmueller, Alliance Bank, Mondovi, who received a one-week stay in a fourbedroom vacation home, with pool, in Orlando, plus $500. Cindy Huhn, Cleveland State Bank, won a one-week stay in a Door County condo plus $150. Tom Armstrong, First National Bank, Park Falls, and Gary Schlosstein, Alliance Bank, Mondovi, each won $100 cash.

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CBW Honors Service to Member Banks Mary Lou Santovec

E

ach year, Community Bankers of Wisconsin presents Lifetime Service Awards to bank employees who, over the past 30, 40, or even 50 years exemplify commitment, loyalty, and service to community banking and to their community. Here are the 2012 award winners and some of their accomplishments.

Citizens State Bank of Loyal

Bev Mielke

In 1981 Mielke was hired at the Citizens State Bank of Loyal in the bookkeeping department, filing checks, making up customer statements, preparing overdraft notices, and performing teller duties at the drive-up window. Within a short time she was running the proof machine. More recently, Mielke has balanced correspondent bank statements, accounts payable, and organized docu-

Mid-Wisconsin Bank, Medford

Library, local schools, and the Abby Christmas Parade.

Sandy Lukas

Vicki Fisher

Called the “perfect role model for anyone entering the financial industry,” Fisher started as a student in 1975 filing checks at the Security State Bank of Colby. Security State Bank eventually joined Neillsville State Bank and the State Bank of Medford to become Mid-Wisconsin Bank. Fisher’s career has included stints on the teller line, the bookkeeping department, branch manager of the Unity branch, and financial services manager. In 1998 she became the Colby-Abbotsford-Unity branch manager until the Unity branch closed. In 2006, Fisher was promoted to branch manager of the Neillsville and Fairchild branches, as well as continuing her responsibility for the branches in Colby and Abbotsford. She’s now a mortgage loan originator for the bank. In the community, she’s the volunteer director for the Rural Arts Museum. Other organizations that have benefitted from her time are the Medford Girl Scouts, Junior Achievement, Colby 14

Wisconsin Community Banking News

Lukas, who will retire on Dec. 12, 2012, began as a teller/bookkeeper at Security State Bank of Colby in 1971. She was promoted to auditor in 1986, and, after the formation of Mid-Wisconsin Bank, was promoted to first vice president of operations. In 2009, she became security officer and compliance officer. Known as a “great teacher,” Lukas has served on multiple committees within the bank. A flower on her desk represents the number of months she has until she retires. Each month, Lukas cuts off a petal while her colleagues tape or glue it back on.

Mary Sarver

Sarver has been in the banking industry for 38 years, the past 33 with Mid-Wisconsin. Her career began in the bookkeeping department of Park Falls State Bank. When Sarver and her husband moved to Medford in 1979, she joined the bookkeeping department at Mid-Wisconsin Bank. This “team player” has been assistant teller supervisor, consumer service officernew accounts and consumer lending, assistant vice president-new accounts and investments, and vice president and investment center trust officer. She currently serves as the first vice presi-

September/October 2012

ments for imaging. Known for “her excellent customer service, her ability to perform accurate work, and to pay attention to detail” she’s been the primary contact person helping customers who phone in with questions or problems with their accounts. She’s also spent countless hours researching customers’ accounts for the customers themselves or for legal reasons.

dent bank investment officer as well as a member of the Mid-Wisconsin Investment Corp., a bank subsidiary. A graduate of the ABA Graduate School of Bank Investments & Financial Management, Sarver also serves as a faculty member for the Wisconsin Bankers Association. In the community, Sarver has been actively involved in Stepping Stones, Inc., Holy Rosary Pastoral Council, and the Frances L. Simek Memorial Library Foundation, Inc. She currently serves as a director for the Memorial Member Association.

William A. Weiland

Weiland has worked in the financial services industry for 35 years, the past 26 at Mid-Wisconsin. Beginning in ag lending, Weiland came to Mid-Wisconsin as the assistant vice president and manager of the bank’s Rib Lake location. He later managed the Plaza location in Medford and stabilized the Neillsville branch after the merger. He currently serves as the executive vice president. Known as the “go-to guy” or the “fixer,” Weiland is usually found solving problems. For example, he assisted a junior lender in liquidating a dairy farm, milking the cows and fixing farm equipment to help the bank preserve the farm’s value. Weiland’s attitude illustrates the difference between “getting tasks done and making them fun.”

In the community, Weiland has been instrumental in curling clubs and Lions Clubs, has served as a village board trustee and on United Way commit-

Bank North, Wausaukee

tees. He’s been a member of the Police and Fire Commission, the Park and Recreation Committee, FHA alumni, Jaycees, the Ann Marie Foundation,

Alice in Dairyland, Sportsman’s Club, and treasurer for his church.

Margaret Leja Anderson

A lifelong resident of the area, Anderson and her family have roots in the Goodman-Armstrong Creek farming community. She’s an active member of the Goodman-Armstrong Creek Alumni Association and has served as the association’s secretary. She volunteers for the annual Hunter’s Dinner and the Polish Heritage Days. Anderson is also a regular blood donor who has donated almost three gallons.

Anderson began her banking career as a teller with Citizens Bank of Goodman in 1972. She also served as a loan officer, secretary of the board of directors, and vice president and cashier of Citizens Bank. In 1990 Citizens Bank merged with Pembine-Wausaukee Bank, which is now Bank North. Anderson continues to serve customers from the Pembine office.

Gateway Community Bank, Beloit

Jesse Calkins

Calkins, who began his career in financial services in 1962, has been a respected banking and community leader in the greater Stateline area. Calkins, along with a group of local business partners, opened Gateway Commu-

Pioneer Bank, Auburndale

nity Bank in 2002. Although he’s retired from day-to-day duties, he continues to serve on the bank’s board of directors. He’s currently the vice president and a director of Gateway Banc Corp., Inc. Calkins is known for the countless hours he spends supporting local organizations and activities. He’s a director of the Beloit Professional Baseball Association, and has served as a volunteer on behalf of the Beloit Library Foundation, Stateline United Way, and Beloit Meals on Wheels.

Ed Hansen

Hansen began his career in the financial services industry in 1972, joining Gateway Community Bank in 2009. As and known by customers throughout the bank’s 10 locations. Furo’s volunteer activities include the annual Marshfield Mayor’s Breakfast,

Mead Wildlife and Education Center, American Legion Post 468, Portage County June Dairy Day, and St. Kilian’s Catholic Church.

Horicon Bank

con Bank in 1979 as the receptionist, new accounts person, and loan processor. She retired on June 30, 2012. During her career, Pagel was involved in many community organizations including the Horicon Chamber of Commerce, PAVE (People Against a Violent Environment), and the Lions Club. Pagel also served as an alderman for the City of Horicon for six years, was president of the city council, and acting mayor on occasion. Her service included work on the city’s Revolving Loan Fund committee and the Police and Fire Commission.

Sally Furo

Furo has been a dedicated employee of Pioneer Bank since 1965 when the bank was known as Auburndale State Bank. Her career path has included stops as teller, bookkeeper, assistant cashier, branch manager, human resources, consumer loan underwriter, and lender. She is seen as a resource for other bank staff

vice president of business banking, his work has been extremely important in the success and growth of the bank’s branch office in Beloit. Hansen has been an active volunteer assisting many public service and professional organizations. He’s been a past member of the Beloit Jaycees, Rotary Club, and the Downtown Beloit Council. He currently serves as a director of the Greater Beloit Development Corporation, Beloit Meals on Wheels, Neighborhood Housing Services of Beloit, Retired Senior Volunteer Program, and the Girl Scouts of Wisconsin-Badgerland Council.

Charlotte Pagel

Pagel started her journey with Hori-

September/October 2012

Wisconsin Community Banking News

15

F&M Bank, Tomah

bank’s operations area. She has spent her entire career in operations holding various positions including bookkeeping supervisor, cash balancer, proof operator, computer operator, data processing operator, operations/bookkeeping supervisor, and general bookkeeper. Rapp, who is known as “the glue that holds the operations department together,” has won numerous internal awards and holds proficiency certificates in operations.

Karen Rapp

Rapp, who’s been with F&M Bank since 1956, is currently employed in the

Pat Linenberg

Linenberg, who began at the bank

F&M Union Bank, Columbus

Beverly “Bev” Weinheimer

Ann Gehrke

Gehrke began her 30-year career in 1980 as a teller. She worked part-time while raising her children. Upon returning to work full-time, she has been an integral part of various departments including bookkeeping and financial services. Currently working as a residential real estate loan processor, Gehrke is proud to be part of a department that has received million dollar lender awards from the USDA. Her community activities include helping out at her church and school.

Weinheimer began her banking career in 1963 working part-time as a teller with the Citizens Bank of Juneau. She joined Farmers & Merchants Union Bank in 2002 as the Juneau branch manager. She currently assists customers with personal banking, IRAs, and consumer and mortgage lending.

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Wisconsin Community Banking News

In the community, Weinheimer is a member of the Juneau Chamber of Commerce, where she’s served as the treasurer and past board member; treasurer of her church’s scholarship accounts and the choir; past treasurer of the Dodgeland Sports Booster Club; and past member and treasurer of St. John’s PTS.

Bank of Prairie du Sac

Dennis Sweno

Sweno, the bank’s CFO and treasury officer, joined the bank in 2007 having worked in community banking for over 30 years. He began his career with the Bank of Waunakee as a teller/bookkeeper in 1980 and was promoted to working with the securities portfolio, student loans, general ledger, financial statements, and Bank Secrecy Act. He currently serves as the director of the Waunakee Area Emergency Medical Services, with the National Ski Patrol at Cascade Mountain, and on the finance committee for the Village of Waunakee. In addition, he’s also treasurer of the Waunakee Area Soccer Club and a Village of Waunakee Board Member.

in 1974, has spent much of her career in supervisory capacities and “keeps track of all of us … and keeps us all in line—straight line,” said her nominator. Currently employed as the receptionist, Linenberg has held various positions including receptionist/secretary, accounting clerk III, bookkeeper III, computer operations officer, bookkeeping supervisor, computer operations supervisor, computer room operator/supervisor, and customer service supervisor.

Sharon Richmond

Richmond is a six-year employee at the Bank of Prairie du Sac although she has spent 30 years in banking. During

her employment with the Bank of Prairie du Sac, Richmond has become a familiar face on the teller line in both the Sauk and Prairie du Sac offices. “Whether it’s a simple deposit or withdrawal or a transaction that’s more in-depth, Sharon has probably seen it all,” said Cathy Yanke, the bank’s human resources director. Prior to joining the bank, Richmond worked in a number of roles at area banks that included credit analyst, teller, customer service, and loan processor. Richmond’s service continues outside the bank with the Lodi Rotary and American Field Service placement of foreign exchange students.

Great Midwest Bank, Brookfield

September/October 2012

Michael J. Doyle

Now in his 50th year with Great Midwest, Doyle began his career after graduating from Marquette Law School in 1963 and later graduating from the School of Banking at Indiana University in Bloomington. He currently serves as the chairman of the board. continued on page 16

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Wisconsin Community Banking News

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continued from page 18

First Bank Financial Centre, Brookfield

Mary Sharp

After emigrating from Germany, Sharp began her career with FBFC in 1962 and has served in a variety of roles including bookkeeping, accounting, operations, assistant cashier, assistant vice president, and service banker. Recalling the days when employees had to do manual tracking for each transaction for every customer, Sharp spent many nights working until midnight to make sure everything balanced. An “extremely caring and thoughtful person who is admired by her coworkers,” Sharp often sends cards to customers and even personally purchases flowers or special gifts for clients and co-workers. She’s also donated time and resources to walks to benefit cancer research, and to Lutheran Homes, Oconomowoc Memorial Hospital, Oconomowoc Food Pantry, and AngelsGrace Hospice. Sharp has donated to various bank fundraisers such as school supply drives, book drives, and holiday gift giving.

Peoples State Bank, Marathon

Donna Kaldunski

Kaldunski began her career in banking in 1967 working for Marathon State Bank. She currently serves as vice president and plans on retiring at the end of 2012. She’s known for her customer service and patience, helping customers balance their checkbooks, and doing whatever is needed. Peoples State Bank of Wausau recently purchased Marathon State Bank. Kaldunski agreed to work through the conversion although it probably would have been easier and less stressful to retire before the process started. 18

Wisconsin Community Banking News

September/October 2012

Management Conference & Expo

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Wisconsin Community Banking News

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Wisconsin Banks Show Improved Profitability Says DFI Chief Mary Lou Santovec

Young & Associates, Inc. Liquidity Planning Strategic Planning Regulatory Assistance Stock Valuations Capital Markets Expansion & De Novo Bank Charters Internal Audit Information Technology Recruitment & Human Resources Lending & Loan Review Compliance Policy Development

800.525.9775

younginc.com Bankers Working For Bankers 20

Wisconsin Community Banking News

September/October 2012

F

or community bankers, that light at the end of the tunnel is looking more like the end of an arduous journey rather than an oncoming train. At the Community Bankers of Wisconsin’s annual Management Conference and Expo, Peter Bildsten, secretary of the Wisconsin Department of Financial Institutions, willingly shared some good news on the status of Wisconsin banks. Quarter 2 brought positive numbers for the 202 state-chartered banks that posted net earnings of $182.1 million in the first half of 2012, a 16.8 percent increase over the first half of 2011. Past due loans have dropped to 3.98 percent, the first time since September 2008 they’ve been under 4 percent. The ratio of non-current loans to total loans is 2.93 percent, down from 3.34 percent in 2011. Capital stands at 11.29 percent, the best it has been in 10 years. Some 95 percent of Wisconsin banks are profitable. Other positive statistics: the number of consent orders issued both nationwide and in Wisconsin has dropped significantly. Nationwide, only four orders were issued in August 2012 and three in July. This compares with 314 nationwide in 2010 including 13 in Wisconsin. DFI issued only six in 2011 and none so far in 2012. Wisconsin banks “are in a good position to lend and to serve their communities.” Bildsten and his staff are spending two or three days a month visiting banks and asking bankers for their input during monthly roundtables. “We gain a lot from that,” he said including a boots-on-the-ground perspective on how this summer’s drought has affected banks and their agriculture customers. The agency added some of its own funds to the multistate mortgage service settlement using the money to create a pilot program addressing neighborhood blight. Ten cities including Wausau, where the first property demolition took place, received grants to tear down deteriorating properties. Bildsten warned the bankers not to expect an extension of the program —“we hope it’s just a pilot.” DFI also awarded $250,000 in grants to schools that are conducting innovative financial literacy programs. Other agency news: Wisconsin ranks 49th out of 50 states in dollar of assets covered per bank examiner, so the agency has issued a “high priority” request to Gov. Scott Walker for two additional examiners. The department will move its offices during the second half of November to the fifth and part of the third floors of the Wisconsin Housing and Economic Development Building at 201 W. Washington Ave. The move is expected to cut occupancy costs in half. Bildsten is hopeful that the savings will ultimately hold exam rates and annual assessments flat.

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Wisconsin Community Banking News

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CBW’s Telephone/Webcast training sessions bring the latest regulatory information right to the desks of your bank employees: Tuesday, Oct. 23: Business Accounts: Who Is Authorized to Open, Close, Transact? Thursday, Oct. 25: Commercial Lending Series: Analyzing Ratios & Cash Flow in Commercial Lending Tuesday, Oct. 30: Managing E-Sign, E-Statements, & E-Disclosures Friday, Nov. 2: ATMs ADA Accessibility Requirements

Tuesday, Nov. 6: Top 10 IRA Issues: Compliance, Reporting, Death, and Distributions Wednesday, Nov. 7: Being Prepared for Regulatory Exams Thursday, Nov. 8: Directors Series—The Board’s Role with the Loan Committee Wednesday, Nov. 14: Advanced Collection Tools Thursday, Nov. 15: Wire Transfer Compliance

Tuesday, Nov. 20: Required Compliance Series—Bank Protection Act: Robbery Preparedness for All Staff Tuesday, Nov. 27: Legal Update— Loans: 2012 in Review Thursday, Nov. 29: Best Practices in IT Risk Assessment Programs Friday, Nov. 30: Regulation E Alert—New Requirements for Consumer Foreign Remittance Transfers

Most conferences run from 2:00 p.m. to 3:30 p.m. However, the Director Series webinar on Nov. 8 and the Regulation E Alert on Nov. 30 begin at 10:00 a.m. For questions on any of these conferences or about the Webcast itself, please call Sandy Gruber at (608) 833-4229 or e-mail [email protected] Visit CBW’s Web site, select the desired workshop, and follow the link to register online.

Wisconsin Bank & Trust to Acquire Platteville Bank

DUBUQUE, Iowa—Wisconsin Bank & Trust will acquire First Shares Inc., the parent company of First National Bank in Platteville. Heartland Financial USA, the parent company of Wisconsin Bank & Trust, will acquire the Platteville bank for $11 million, 60 percent in stock and 40 percent in cash. The acquisition of the $130 million First National Bank for Heartland is an attractive option because of the education and health care available in the southwest Wisconsin community. First National has deposits of $114 million, loans of $88 million, and 40 employees. It has branches in Platteville, Lancaster, and Hazel Green. In 2011 it had a net income of $373,000. First National will be the first bank to be acquired under the newly named Heartland, which was previously known in Wisconsin as Wisconsin Community Bank in the Madison and Monroe markets and Heartland Business Bank in the Green Bay and Sheboygan markets. If approved by the regulators, the deal is expected to close by the end of the year. 22

Wisconsin Community Banking News

Noteworthy Community Bank Anniversaries

Congratulations to the following Wisconsin community banks, which celebrate key charter anniversaries from September through year-end.

120 Years

Citizens Bank of Mukwonago, on December 12

110 Years

95 Years

Farmers & Merchants Bank, Rudolph, on September 20

80 Years

F & M Bank and Trust, Marinette, on December 2

Bank of Mauston, on September 12

100 Years

Community State Bank, Prentice, on October 1

Bancroft State Bank, on October 7

25 Years

DFI Has New Address

MADISON—The Department of Financial Institutions has new digs. It will move a block up the street from its current location at 345 W. Washington Ave. The agency had hoped to move to Middleton, but members of the Building Commission and DFI’s landlord, the Alexander Company made the intention public with the Commission nixing the plan.

September/October 2012

15 Years

Investor Bank, Waukesha, on September 8

5 Years

Settlers Bank, De Forest, on December 1

DFI will move to the fifth and part of the third floors of the Wisconsin Housing and Economic Development Building at 201 W. Washington Ave. The move to the building, also known as the Tommy G. Thompson Center, will save the agency $409,625 in the first year, but increase the cost of parking for the employees.

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Wisconsin Community Banking News

23

ICBA Presents Royalty Check

This year, CBW received a royalties check from ICBA totaling $97,378.34, up from $93,767.02 last year. Pictured at the conference check presentation were, left to right, Fred Kelly, David Holsted, Jeff Gerhart, Jim Tubbs, Daryll Lund, and Jonathan Ferebee.

ICBA Chair Advocates for Hometown Banking “Success demands a singleness of purpose,” said the late Vince Lombardi. Jeff Gerhart, chairman of ICBA and chairman of the Bank of Newman Grove, Neb., channeled a bit of the Packers legend during his remarks at the Community Bankers of Wisconsin Management Conference and Expo. As a fourth-generation banker and son of a former ICBA chair, Gerhart’s roots in the industry run deep. In addition to being chairman of the bank, he also serves as president and owner of Gerhart Insurance Agency in Newman Grove and president and manager of Marbu Inc., a family farming operation. “Forty years ago, the banker of Main Street was more knowledgeable about

his customers and less mesmerized by electronic banking.” Today, community banks find themselves in a continuing fight for survival and ICBA and associations like CBW are keeping community bankers from “being that road kill out there.” Gerhart told the story of how during the Depression, his grandfather, greatgrandfather, and bookkeeper were the bank’s only employees. Because the bank could only afford to pay two of them, Gerhart’s grandfather became a farm manager for the Mutual Benefit of New York Insurance Company, helping the farms that were taken back to remain in working order and keeping families on the farms.

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Wisconsin Community Banking News

September/October 2012

That “can do” spirit also created ICBA in the 1930s to preserve and support the dual banking system. Gerhart listed some of ICBA’s impact on recent legislation including moving the SEC threshold from 500 to 2,000 shareholders, the creation of the TAG program, and Dodd-Frank. While some bankers think DoddFrank represents one of the four horsemen of the apocalypse, Gerhart cautioned them “not to throw the baby out with the bath water.” Some 85 percent of it doesn’t relate to community banks but only to the 34 banks with $50 billion in assets. The legislation enabled ICBA members to save 50 to 55 percent on the FDIC assessment. A “carve out” for community banks in the Consumer Financial Protection Bureau is that the CFPB can’t come into banks under $10 billion or less to regulate them. There are now politicians calling for the break up of the largest banks because the federal safety net allows them to take risks that smaller banks won’t take on. Credit unions, sensing an opportunity for a power grab, have proposed increasing their business lending limits. This piece of legislation is likely to be voted on before the end of the year. There’s still time for members of the 3,000-plus community banks to weigh in and derail the credit unions’ plans. Bankers can “never underestimate your importance with your congressman.” But relationships need to be built over a period of time. Community bankers have a voice, “a ZIP code and a hometown.” It’s time to leverage the power of location and join the fight for the preservation of the dual banking system.

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Wisconsin Community Banking News

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Election 2012: Predictions and Prognostications Mary Lou Santovec

W

ith Wisconsin being “ground zero” for political debate this year, attendees at the CBW Management Conference and Expo in Wisconsin Dells, paid close attention to a presentation by Dr. Charles Franklin, director of the Marquette Law School Poll and visiting professor of law and public policy at the Milwaukee school. Looking at the average of a series of polls immediately following the Republican and Democratic conventions, Franklin noted that as of Sept. 11, President Obama was ahead by 3.5 percentage points. “Since the end of the [Democratic] convention, Obama has a lead. Two weeks before the convention, the race was tied.” While the president may have a lead, it doesn’t mean he’s got a lock on the elections. Wisconsin is one of eight “toss up” states that will make or break the election along with Iowa, Ohio, Florida, Nevada, Colorado, Virginia, and New Hampshire. With 270 electoral votes needed to win, the President can count on 196 compared with Romney’s 170. So it’s still a close race and Wisconsin remains influential in the outcome. The Marquette Law School Poll conducted between Sept. 16 and Sept. 19,

2012 shows Obama having a 14-point lead in Wisconsin up from 3 points in August. The addition of Congressman Paul Ryan to the Republican ticket closed the lead a bit during the Republican convention, but the race will hinge on the independent voters. Turning to the race for the seat of retiring Senator Herb Kohl, former Governor Tommy Thompson is running against Congresswoman Tammy Baldwin. In August, Thompson was ahead, 50 percent to 41 percent. “He’s been ahead by nine to 11 point margins at times dipping to a 4 or 5 percent margin.” But as of Sept. 19, that has shifted and Baldwin was out in front at press time. CBW has endorsed Thompson, who spoke at the conference’s opening reception. “In the last four years, we’ve gone from $6 trillion in debt to more debt than we had from George Washington to George H.W. Bush,” he said. “We’re borrowing 38 cents out of every dollar from the Chinese and Russia. They could dump the debt and bankrupt the United States.” Thompson noted that the U.S. Senate “has not passed a budget in three years and four months.” On regulations, he’s in favor of eliminating Dodd-Frank and “allowing community banks to grow and

prosper and create jobs.” In his presentation, Charles Franklin noted that the majority of individuals polled felt it was necessary to reduce the federal deficit and cut defense spending. But most were unwilling to increase taxes on all incomes to reduce the deficit, cut health care spending, or kill tax deductions — all places along with Medicare and defense where there is any serious money to cut. When voters across the age spectrum were asked if they want to keep Medicare as is or institute a voucher program, they were in favor of keeping Medicare as is — 55 percent to 38 percent. Why the obvious contradictions? Partisanship, not the economy, controls the answers. “When we put on our partisan blinders, we forget everything we believe on economics,” said Franklin. So is Wisconsin a blue state or a red state? Currently 29 percent of voters identify themselves as Republican while 32 percent say they’re Democrats. A large number, 39 percent, call themselves independents. The bottom line? The results of the 2012 election will set the tone for the next 20 years. And Wisconsin is poised to exert a major influence on the outcome.

Fun Kicks Off CBW 2012 Management Conference and Expo Tradition continued as CBW’s 31st annual conference kicked off with a bike tour led by Butch Pomeroy, International Bank of Amherst, and a golf outing at Wild Rock, the course at Wilderness Resort, Wisconsin Dells. The first place team, with a score of 158, included Eric Cerbins, Tom Jensen, Judd Halverson, and Mark Moats.

Flag Event Winners

#3 Longest Putt—Dean Olson #4 Closest to the Pin in One—Sigurd Bringe #6 Longest Drive (men)—Dennis Doyle #8 Closest Second Shot—Mark Aharitoy #10 Closest Third Shot—Steve Eager #14 Longest Drive (women)—Angel Busch #15 Closest to the Pin in One—Tom Jensen #17 Closest Second Shot—Mike McDonald #18 Longest Putt—Daryll Lund

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Wisconsin Community Banking News

September/October 2012

CBW golf outing first place team, with a score of 158, included Eric Cerbins and Tom Jensen, First National Bank of Berlin; Judd Halvorson, Elan Financial Services, and Mark Moats, Simplifile.

Expanding Electronic Payments Can Increase Risks Andy Barlow, Director of Compliance, WACHA-The Premier Payment Resource

O

ver the past few years the financial services industry has experienced dramatic changes in the way payments are made and processed. The Federal Reserve’s 2010 study of noncash payments revealed that in 2009 more than 75 percent of all U.S. noncash payments were made electronically, a 9.3 percent annual increase since the Federal Reserve’s previous study in 2007. This growth and other statistics in the study emphasize consumers’ increasing adoption of electronic alternatives for payments in the United States. Check volume continues to decline, in part due to the fact that customers are increasingly choosing to use electronic payments rather than checks and because of check conversion to ACH transactions such as point of sale and lockbox. NACHA, the national ACH association, has made risk a priority and recent changes to the NACHA operating rules and guidelines reflect this. For example, NACHA has passed rules that increase the fines for violation of the rules which may include suspension of an Originator. Additionally, they monitor unauthorized entries for their Originators and added the requirement that each bank must complete an ACH Risk Assessment based on its regulatory guidance and use that assessment to build a risk management program. Banks can control their risks by conducting an ACH audit. NACHA requires that all financial institutions that participate in the ACH Network perform and complete an ACH audit by Dec. 31 each year. What’s more, according to Section 8.1 of the NACHA operating rules and guidelines, NACHA can request a copy of your audit at any time! Likewise, examiners are now citing financial institutions for not having their annual ACH audit completed by Dec. 31. Examiners have added the ACH audit to their work plan because of the rapid growth in transaction activity, new products, fraud, anti-money laundering, increased operational errors, and credit exposure. When Payments Advisory Resource

(the compliance arm of WACHA) conducts ACH audits and risk assessments, we have identified several area of exceptions. A bank’s controls should start at the top with senior management and the board of directors providing a strategic plan for the bank in terms of payment systems. ACH and electronic payments are evolving very quickly and the demands by customers are increasing just as quickly. Without a clear plan, payment systems may not be coordinated between functional areas within the bank when they are purchased. This

“Self assessments are good, but they are not an audit.” —Robert Kennedy, Atlanta Reserve Bank

can cause gaps in the due diligence while researching the new payment systems. Mobile products, Internet banking solutions, to include bill pay and P2P (person to person) payments, should all be considered from a payment risk point of view to see if the potential risks match the risk tolerance of the bank. We are seeing an increase in the number of payment processors seeking a new bank to partner with to send payments into the ACH network. Many of these processors will be a good match for your company—unfortunately some will not be. Some of these processors have been asked to leave their previous bank for less than desirable activities. There are some processors who are looking for an unsophisticated bank from which they can send high-risk payments for other third parties. These companies are offering to pay large dollars if the bank will be a sending point for their entries. We would caution you not to overlook the risks of these transactions for the lure of the immediate fee income. If there is

an out-of-state company offering a small bank in central Wisconsin thousands of dollars each month for ACH origination services, you should be asking yourself “Why are they coming to me?” Banks should carefully evaluate each of these payment processors before starting a business relationship. With the rise of Internet banking and the convenience that this offers comes the risk that criminals can hack into Originators’ computers and insert their own ACH files. This crime is called “account takeover.” Banks can protect themselves by following the FFIEC’s guidance on authentication in an Internet environment which was updated last year. Key concepts include: knowing what normal activity is for your customer in order to detect anomalous activity and maintaining good layered security for the transmission of payment orders such as ACH files and wires. The security procedures you put in place should be documented within your ACH agreements for all parties to have a full understanding of what is required of them. Your risk is not just on the originating side. It is also on the receiving side. A part of the ACH audit includes receiving ACH transactions. With the average ACH transaction at $2,062, an incorrect return reason, or an untimely return, could be costly to your financial institution. Improper exception handling remains a constant theme in our audit findings. Likewise, the incorrect handling of government payments could also be costly to your financial institution. With baby boomers coming of age, an unprecedented increase in government payments is anticipated. Next year the government has mandated all benefit payments must be completed electronically. Ensuring that your staff handles enrollments and DNEs (Death Notifications) properly becomes even more important. So, is your ACH business at risk? It could be. But by following the rules you can limit your risk and the chances of being cited or fined for noncompliance.

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Overview: Financial Services Consortium Luke Fuszard, Wisconsin Economic Development Corporation

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ince October of 2011, the Wisconsin Economic Development Corporation (WEDC) has proactively engaged financial services firms across Wisconsin—including companies and institutions engaged in credit intermediation, insurance, securities dealing, fund management, and other professional support services. The financial services industry is a leading contributor to the state’s economic well-being and competitiveness. In 2011, financial services-related activities comprised almost 10 percent of the state GDP, up from 7.8 percent just a decade ago. Financial services actually makes up a larger percentage of Wisconsin’s gross domestic product on a percentage basis than the nation as a whole. Additionally, employment in the sector is projected to grow more quickly in Wisconsin than both the U.S. and Great Lakes region over the next decade. Businesses within the sector rely on a highly educated and skilled labor pool

that traditionally has been easy to find. However, financial services businesses now face difficulty in finding enough skilled workers. Training new employees with no previous exposure to finance can be costly and lead to talent poaching. Wisconsin has incredibly strong technical college and university systems, however the data indicates that the state lags behind the nation and among its peers in its ability retain those students following completion of their degree programs. To advance the competitiveness of the financial services sector as a whole Wisconsin needs to both produce more educated and qualified workers for all sub-sectors, as well as retain such qualified workers over the long term. The strategic objective of WEDC’s new Financial Services Consortium is to educate and inform government leaders, the business community, and the population at large about important issues affecting the financial services industry. Not only does it allow private sector firms to learn best practices from one another, but it also serves as a vehicle to promote clear lines of communication

between the public and private sectors. The desired outcomes of the Consortium include, but are not limited to: A large talent base of financial service workers in all regions of Wisconsin A stronger link between private sector firms and the state’s technical and university systems A centralized information portal that links qualified employees with employers An improved image of the financial services industry among the public at large. The Consortium is still in its infancy, but it is progressing rapidly. The Consortium is on the cusp of adopting an organizational charter, which will formally codify its roles and responsibilities. The WEDC seeks active, engaged participation among community banking members from all corners of Wisconsin. To be a part of this exciting effort, contact Luke Fuszard, Wisconsin Economic Development Corporation, at [email protected] or 608-2106846.

Changing Scene

Central Wisconsin Banks Form Alliance

WAUSAU—WoodTrust Bank, headquartered in Wisconsin Rapids, and River Valley Bank, headquartered in Wausau, have formed a strategic alliance. WoodTrust will provide trust, investment management, and financial planning services for clients of the 18 Wisconsin and

Upper Michigan locations of River Valley Bank. WoodTrust has six branches in Central Wisconsin and one in Arizona.

Industry Leaders Support Thompson

CBW and WBA partnered on a late September fundraising event to support the campaign of Tommy Thompson, Republican candidate for U.S. Senate. Pictured, left to right, Daryll Lund, CBW; John Slatky, Bank of Luxemburg; Mike Semmann, WBA; Tommy Thompson; Rose Oswald Poels, WBA, and Jay Risch, WBA.

Godfrey & Kahn Earns Kudos

MILWAUKEE—Godfrey & Kahn S.C. was ranked as the “Top Lead Legal Advisor” in Wisconsin in a recent issue of American Banker. 28

Wisconsin Community Banking News

September/October 2012

The magazine chose the business law firm for the number of domestic bank and thrift merger transactions reported during the first six months of 2012. Firms who were ranked served as primary legal advisors.

Financial Literacy Award Nominations Sought

MADISON—Nominations for the 2012 Wisconsin Financial Literacy Award will be accepted through Nov. 30. The Governor’s Council on Financial Literacy invites nominations of individuals or organizations, to recognize their efforts at promoting the cause of personal financial literacy in Wisconsin. Criteria that will be used to judge the nominations include: Innovative implementation Demonstrated measureable results Collaboration with partners Scope is statewide or has the potential to be statewide, or is focused on needbased groups. Nominations may be submitted online. More information may be found at www.wdfi.org/ymm/govcouncilfinlit/.

Bank Mutual Celebrates Revamped Branch

BROWN DEER—Bank Mutual celebrated the grand re-opening of its West Allis branch at 10296 W. National Ave. Giveaways, a live broadcast, and drawings were part of the celebration. Customers who opened certain types of checking accounts at the West Allis office received a $120 bonus during the month of August.

New Look for Beloit Bank

BELOIT—First National Bank and Trust Company is getting a new look. The Beloit bank is undergoing a major renovation of the façade at its headquarters, Financial Centre One, located at 345 E. Grand Ave. Architects from Potter Lawson Inc., will freshen the look of the 39-year-old building adding new windows, a new stone panel system to highlight the pedestrian entries, and other architectural details.

Peoples Celebrates Anniversary

WAUSAU—Peoples State Bank celebrated its 50th anniversary in August with open houses at its eight branches.

Cake, refreshments, and prize giveaways were part of the celebration. The original location at 1905 Stewart Ave., also hosted a car show.

FirstMerit to Acquire Citizens Republic

AKRON, Ohio—FirstMerit Corp. will acquire Citizens Republic Bancorp Inc. of Flint, Michigan, the parent company of Citizens Bank in Wisconsin, in a stock-for-stock transaction valued at $912 million. Citizens, which has 49 branches in Wisconsin (most in the northeastern part of the state), will be rebranded to the FirstMerit name when the deal closes subject to regulatory approval. The combined company will have approximately $24 billion in total assets, $15 billion in loans, $19 billion in deposits, 415 branches, 452 ATMs, and more than 5,000 employees in the states of Ohio, Illinois, Pennsylvania, Michigan, and Wisconsin. As part of the transaction, FirstMerit will repay Citizens’ $345 million in Troubled Asset Relief Program (TARP) stock. The expected closing date for the transaction is the second quarter of 2013.

of the deposit accounts of Community Bank’s Marshfield office and a portion of the deposit accounts of the Colby office. Forward Financial Bank will purchase all of the deposit accounts of Community Bank’s Owen and Thorp Offices and a portion of the deposit accounts of the Colby Office. The bulk of Community Bank’s loans will be purchased by Forward Financial Bank and Citizens State Bank. The transactions, which are subject to regulatory approvals, are expected to be completed in the first quarter of 2013.

Support for Paul Ryan

John Slatky, Bank of Luxemburg, represented CBW and ICBA at a fundraiser for U.S. vice presidential candidate Paul Ryan hosted by U.S. Congressman Reid Ribble, who represents Wisconsin’s 8th District.

Banks Named to ‘Safest Banks’ List

Several Wisconsin community banks were included on a list of the 359 “safest banks in America” compiled by MSN. com. Banks named to the list earned a perfect score under the Texas Ratio, a series of metrics used to predict bank failures in Texas during the 1980s recession and in New England during the 1990s recession. Included on the list were WPS Community Bank, Madison; Settlers Bank, Deforest; Collins State Bank, Collins; Milton Savings Bank, Milton; and Palmyra State Bank, Palmyra.

Forward Financial, Citizens State Partner on Purchase

COLBY— Forward Financial Bank, SSB and Citizens State Bank of Loyal have signed agreements to purchase all of the deposits and most of the loans of Community Bank of Central Wisconsin. Community Bank has four offices located in Colby, Marshfield, Owen, and Thorp. Citizens State Bank will purchase all September/October 2012

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People

Stafslien New VP at Wisconsin Bank & Trust

MADISON—Wisconsin Bank & Trust welcomes Rob Stafslien as vice president of mortgage lending at its Middleton location. Stafslien previously served as the mortgage sales manager at U.S. Bank.

Thompson Joins First Business

MADISON—First Business Trust & Investments, a division of First Business Bank, named Richard Thompson as vice president.

Kittleson New EVP/CFO at Oak Bank

FITCHBURG—Oak Bank promoted Dan Kittleson to executive vice president and CFO. He joined the bank in 2001 as senior vice president/CFO.

First Business-Milwaukee Welcomes Bell

MILWAUKEE—First Business Bank-Milwaukee, part of First Business Financial Services Inc., welcomes Bob Bell as vice president. Bell, who was previously part of the Milwaukee leadership team in commercial banking at Johnson Bank, has experience in sales and management in commercial and industrial real estate lending.

Five Promoted at WoodTrust

WISCONSIN RAPIDS—The board of directors of WoodTrust Bank approved the following promotions. Jeff Gellerman was appointed as executive vice president, chief lending and credit officer. Mary Ironside was named executive vice president and chief financial officer. Larrie Hayes was promoted to senior vice president, chief retail banking and compliance officer in addition to continuing in his current role as head of retail banking and information technology. Mike Glodosky and Jason Dietz were both promoted to senior vice president, trust and investments.

Harrigan Joins First Bank Financial Centre

OCONOMOWOC—First Bank Financial Centre has added Bill Harrigan as vice president-commercial lender based at its Brookfield branch. For more than 13 years, he has been helping small to midsize, privately held businesses with their financing needs, including equipment financing, receivable financing, and owner-occupied real estate.

Krause Joins PyraMax as SVP

GREENFIELD—Michael Krause has joined PyraMax Bank as sales manager-senior vice president commercial lending. He brings over 20 years of experience in banking and finance and previously worked for Johnson Bank, Racine. 

Schultz Joins Community Bank & Trust

SHEBOYGAN—Edward Schultz is the new office president at the Chilton branch of Community Bank & Trust.

First Business Bank Promotes Hanna

MADISON—Wade Hanna was promoted to vice president of treasury management at First Business Bank. Hanna joined the bank in 2000 as a client services repre30

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sentative. He was promoted to client services manager-officer in 2002.

State Bank of Cross Plains Hires Manchester

CROSS PLAINS—The State Bank of Cross Plains has hired Paul Manchester as vice president-business relationship manager. Manchester has over 12 years of financial experience with an emphasis in business banking and will be responsible for business development in the Mt. Horeb and Verona markets with responsibility for commercial and industrial businesses.

Wilder Named ‘Up and Coming Lawyer’

MILWAUKEE—The Wisconsin Law Journal recently named Peter Wilder a 2012 recipient of its “Up and Coming Lawyer” award, which is limited to 25 younger attorneys who are recognized as “rising stars.” Wilder is a member of Godfrey & Kahn’s Financial Institutions Group.

Slater Joins Wipfli LLP

MILWAUKEE— Wipfli LLP has hired Ron Slater as a senior manager. Slater brings 40 years of banking leadership experience to the firm’s financial institutions practice and its clients, and specializes in providing strategic planning, board governance, C-suite consulting, and merger and acquisition services to clients. Prior to joining Wipfli, Slater was president and CEO of Bankers Bank, Madison. Slater also served as the chair of the Wisconsin Bankers Association and was involved in the creation of the Community Bankers of Wisconsin. Directory of Community Banking Service Providers

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455 S. Junction Rd., Ste. 101 Madison, WI 53719 www.communitybankers.org

Compliance Program Highly Rated by Wisconsin Community Bankers For the ninth straight year CBW is sponsoring the Community Bankers for Compliance Program (CBC) in 2012 with Young & Associates, a nationally recognized compliance consulting firm that specializes in community banking. The CBC program is CBW’s most highly rated educational program. The CBC program includes quarterly full-day seminars based on the most recent industry and regulatory developments, access to the Young & Associates toll-free compliance hotline, and a CBC Members Only website hosted by Young & Associates that provides timely compliance information and tools. The quarterly compliance seminars offer peer networking and include a regulatory update and a comprehensive discussion of one or more compliance regulations. Attendees receive a compliance manual each quarter that is generally in excess of 200 pages that can and is used as a reference to the changing regulations and as a training manual for other employees. If you have questions, contact: Sandy Gruber at 608-833-2384, [email protected] or Rick McGuigan at 608-833-2382, [email protected]

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