The Missouri Banker

A paratrooper, Stout jumped out a plane 124 times. His most exciting jump was from a BLACK HAWK helicopter. Whether it’s your fi rst or last jump out of an airplane, Stout said it doesn’t get any easier.

“The most adrenaline-fi lled jumps are when you’re the fi rst guy out. You’re staring out the door for a good two minutes, just looking at the ground. It’s terrifying,” he said. “It’s exciting, and I miss it.”

Stout was deployed to Afghanistan in 2004 with the 319 Airborne Field Artillery Regiment. He was with the “big cannons,” the howitzers, and his company supported “FOBs” — forward operating bases — that were responsible for building roads in the country.

“When they moved, we moved,” Stout said, noting they moved fi ve times.

The people in Iraq and Afghanistan were interesting, and Stout didn’t know what to expect because of the different culture. However, he learned that not everyone was the bad guy as portrayed in the movies.

“There were good people just trying to take care of their families,” Stout said.

This tugged at Stout, whose fi rst wife was pregnant with their fi rst child when he was deployed in 2004.

Volume 70, Number 10 • THE NEWSPAPER OF THE MISSOURI BANKERS ASSOCIATION • Thursday, October 16, 2014

The Missouri Banker

Visit our web site at www.mobankers.com

Segs4Vets Renews Life, Activity For Missouri VeteransBy Lori BruceCommunications DirectorMBA

In a few weeks, communities throughout the United States will come together to celebrate Veterans Day

as they honor the men and women serving our country in the Armed Forces. Many have given the ultimate sacrifi ce to protect our liberty and freedom. For some, injuries sustained during their service have left them

disabled. One organization, Segs4Vets, uses Segway mobile transporters to help severely injured men and women returning from Iraq and Afghanistan to choose the path of independence and to remain productive members of society.

Launched in 2005, Segs4Vets is supported by volunteers. The Missouri Bankers Association chose Segs4Vets as its designated charity in 2009. Since then, banks in Missouri, their employees and others have raised more than $190,000 to support this noble cause. As MBA’s Sixth Annual Segs4Vets Day approaches Nov. 7, two Missouri soldiers — Chris Stout of Kansas City and Mike Fayette of Columbia — share how Segs4Vets has changed their lives.

Chris Stout grew up in Alaska but moved to Branson, Missouri, while a teenager in the late 1990s. After graduating high school, Stout attended college in Kansas City. His younger brother, who graduated with him, joined the Navy.

“I was working and going to school at the same time, struggling to pay bills,” Stout said. “I looked at my brother, who was doing well and squared away. It seemed like a simple choice.”

After talking with his brother, Stout joined the Army in 2001. He was part of the 82nd Airborne Division stationed at Fort Bragg, N.C.

“I didn’t worry about what would happen to me, but I dreaded being away from my family for a long time,” he said.

Stout was able to come home on leave for his daughter’s birth in November 2004 but left one week later.

“That was the hardest thing I had ever done.”

May 5, 2005, was a routine convoy for Stout and his unit. The FOB was in a “fi shbowl” — they were clearing a unit in a valley while Stout’s unit was stationed on the mountainside. “We got a call for fi re, and then we started getting fi red at,” Stout said. A bullet hit his ankle, and Stout used the truck for cover. A blast rocked the truck, causing it to roll on top of Stout and crush his right leg. The truck also crushed the left leg of Stout’s buddy, who lost his leg in that attack. Another soldier was shot twice in the thigh.

After the attack, Stout was transferred to Germany for treatment. It was here that he decided to be “limb salvage” — he chose to keep his leg. Stout endured multiple surgeries as hardware was “put in and out” of his leg. During his eight month recovery, Stout had to learn how to walk again using a cane and crutches. When he wasn’t walking, he was in a wheelchair.

continued on Page 8

Chris Stout stands with Segs4Vets supporters during a fundraising event. Since 2009, banks in Missouri have raised more than $190,000 to purchase Segways for men and women injured in Iraq and Afghanistan.

The Missouri Banker October 16, 2014

Address ChangesSubmit address changes for The Missouri Banker to MBA, P.O. Box 57, Jefferson City, MO 65102, Attn: Database Manager or email [email protected].

The Missouri Banker573-636-8151

Max CookPublisher

[email protected]

Lori Ann BruceEditor

[email protected]

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

Dan RobbChairmanMissouri Bankers Association

Chairman’s CornerBanks Share Concerns During Capitol Visit

What a whirlwind month! Baseball season is still alive in the Show-Me State, with both the St. Louis Cardinals and Kansas City Royals battling their way to the fall classic. Both have shown their grit and determination

in fi nding ways to win against the odds. My hats off to the Kansas City Royals for not only returning to the playoffs for the fi rst time in 29 years, but doing so in such an unbelievable fashion! I would love nothing more than a repeat of the 1985 I-70 World Series!

Earlier this month, I traveled with some of my banking colleagues to Washington, D.C., for MBA’s annual legislative visit. These trips offer us the opportunity to visit with our congressional leaders and regulators to discuss issues concerning the banking industry. Here are a few takeaways from this year’s trip.

Unfortunately, there are no legislative fi xes any time soon for banking issues. With the elections in November and the lame-

duck session to follow, very little will be accomplished. For example, H.R. 749 is a noncontroversial privacy bill passed unanimously by the House, but it failed in the Senate because of one senator who blocked it. Instances like this are frustrating, but we keep fi ghting the good fi ght as we continue to share our thoughts with representatives and senators.

On the regulatory front, regulators don’t seem to have a sympathetic ear for the disparity between C Corp and S Corp dividends imposed under the BASEL III changes. Don’t give up! We heard multiple regulators speak of the volumes of correspondence received from bankers during the comment periods. Changes have been made partly because your voices are

being heard. Continue to amplify your message to all those who will listen, and please continue to tell your customers’ stories.

This years’ meeting with the Consumer Financial Protection Bureau was the best since the agency was formed. Jennifer Stockett, senior advisor with the Offi ce of Financial Institutions & Business Liaison, led a three-member panel that listened to our concerns and how the new QM and ATR rules are affecting our customers. The message we tried to leave about the QM/ATR rules with each regulator and our congressional delegation was to give us safe harbor for those mortgages that we keep in our portfolio. We want to continue lending money to those who we have always lent money in the past, but the new rules force us to turn away long-time customers.

As frustrating as our government seems at times, I always feel a tremendous amount of patriotism each time I visit Washington, D.C. The monuments, as grandiose as they are, cannot convey enough honor to our veterans. As I see tourists on Segway tours whizzing around D.C., I think about the veterans who need assistance like a Segway just to move about in their daily lives. This issue of The Missouri Banker features how Segs4Vets has changed the lives of two veterans in Missouri. If you or your bank does not currently support Segs4Vets, please consider it. We cannot do enough to help these men and women who have proudly protected our country through their services to the Armed Forces. They have fought and continue to fi ght the good fi ght, and we need to do the same.

PS Form 3526Statement of Ownership, Management, and Circulation

(All Periodicals Publications Except Requester Publications)1. Publication Title 2. Publication Number ISSN 3. Filing Date

THE MISSOURI BANKER/MO BANKERSASSOC

44 15203298 10/06/2014

4. Issue Frequency 5. Number of Issues Published Annually 6. Annual Subscription Price18X YRLY,1 IN JAN,MAR,JUN,JUL,NOV,DEC;2 IN 12 $ 0.00

7. Complete Mailing Address of Known Office of PublicationPO BOX 57JEFFERSON CITY, NA, MO 65102-0057

Contact PersonMO BANKERS ASSOC

Telephone(573) 636-8151

8. Complete Mailing Address of Headquarters or General Business Office of PublisherTHE MISSOURI BANKERPO BOX 57JEFFERSON CITY , MO 65102-0057

9. Full Names and Complete Mailing Addresses of Publisher, Editor, and Managing Editor

Publisher (Name and complete mailing address)MAX COOKPO BOX 57JEFFERSON CITY, MO 65102-0057

Editor (Name and complete mailing address)LORI BRUCEPO BOX 57JEFFERSON CITY, MO 65102-0057

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10. Owner (Do not leave blank. If the publication is owned by a corporation, give the name and address of the corporation immediately followed bythe names and addresses of all stockholders owning or holding 1 percent or more of the total amount of stock. If not owned by a corporation, givenames and addresses of the individual owners. If owned by a partnership or other unincorporated firm, give its name and address as well asthose of each individual owner. If the publication is published by a nonprofit organization, give its name and address.)

Full Name Complete Mailing AddressMISSOURI BANKERS ASSOCIATION PO BOX 57, JEFFERSON CITY, MO 65102-0057

11. Known Bondholders, Mortgagees, and Other Security Holders Owning orHoding 1 Percent or More of Total Amount of Bonds. Mortgages, or OtherSecurities. If none, check box X None

Full Name Complete Mailing Address

PS Form 3526, September 2007 (Page 1) PRIVACY NOTICE: See our privacy policy on www.usps.com

13. Publication Title 14. Issue Date for Circulation Data BelowTHE MISSOURI BANKER/MO BANKERS ASSOC 09/18/2014

15. Extend and Nature of CirculationAverage No. Copies Each IssueDuring Preceding 12 Months

No. Copies of Single IssuePublished Nearest to Filing Date

a. Total Numbers of Copies (Net press run) 5943 5985

b. PaidCirculation(By MailandOutsidethe Mail)

(1)Mailed Outside County Paid Subscriptions Stated on PSForm 3541(include paid distribution above nominal rate,advertiser's proof copies, and exchange copies)

(2)Mailed In-County Paid Subscriptions Stated on PS Form3541(include paid distribution above nominal rate,advertiser's proof copies, and exchange copies)

(3)Paid Distribution Outside the Mails Including SalesThrough Dealers and Carriers, Street Vendors, CounterSales, and Other Paid Distribution Outside USPS

(4) Paid Distribution by Other Classes of Mail Through theUSPS (e.g. First-Class Mail)

5522 5540

221 229

0 0

0 0

c. Total Paid Distribution (Sum of 15b (1), (2), (3), (4)) 5743 5769

d. Free orNominalRateDistribution(By MailandOutside theMail)

(1) Free or Nominal Rate Outside County Copiesincluded on PS Form 3541

(2) Free or Nominal Rate In-County Copies included onPS Form 3541

(3) Free or Nominal Rate Copies Mailed at Other ClassesThrough the USPS (e.g. First-Class Mail)

(4) Free or Nominal Rate Distribution Outside the Mail(Carriers or other means)

0 0

0 0

5743 5769

0 0

e. Total Free or Nominal Rate Distribution (Sum of 15d (1), (2), (3), (4))

f. Total Distribution (Sum of 15c and 15e)

g. Copies not Distributed

h. Total (Sum of 15f and 15g)

i. Percent Paid ((15c / 15f) times 100)

5743 5769

11486 11538

155 171

11641 11709

50.00 % 50.00 %

16. If total circulation includes electronic copies, report that circulation onlines below.

a. Paid Electronic Copies

b. Total Paid Print Copies(Line 15C) + Paid Electronic Copies

c Total Print Distribution(Line 15F) + Paid Electronic Copies

0 0

5743 5769

11486 11538

18. Signature and Title of Editor, Publisher, Business Manager, or Owner Title Date

YFW4GC (RICHARD MCDONALD) 10/06/2014 00:00:00 AM

I certify that all information furnished on this form is true and complete. I understand that anyone who furnishes false or misleading information onthis form or who omits material or information requested on the form may be subject to criminal sanctions (including fines and imprisonment) and/orcivil sanctions (including civil penalties).

PS Form 3526, September 2007 (Page 2) PRIVACY NOTICE: See our privacy policy on www.usps.com


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Lobbyist’s Update

Craig OverfeltMBA Senior Vice [email protected]

Developing Relationships Key For Bankers

In today’s competitive retail loan market, every deal is more important than the last and can lead to the next. That’s why MIB is all-in when it comes to supporting your participation loan needs.

The way we do business helps you do more business. So the next time you have to say ‘no’ because of capital requirements, consider saying ‘yes’ to MIB.

One Source. One Call. | 1-800-347-4642 | mibanc.com

WHEN IT COMES TO PARTICIPATION LENDING

ALL-INWE’RE

October is my favorite month of the year. Why? I just know you want to know!• baseball playoffs• football• fi shing• weather

Three of the top four reasons are related to sports. In many respects, Missourians are very fortunate to have many top notch sports teams at all levels. Even the Kansas City Royals are making a comeback this year!

Back in 1980, I graduated from the renowned School of Journalism at the University of Missouri-Columbia. My

fi rst job was covering sports at a statewide newspaper in Little Rock, Ark. In Arkansas there is really one team — the Arkansas Razorbacks. I even bought a hog hat. Woooooooooooo, Pig! Sooie! Woooooooooooo, Pig! Sooie! Woooooooooooo, Pig! Sooie! Razorbacks!

A few years later, I decided to join the family business of trade associations and lobbying, surrendered the hog hat and bled black and gold for my alma mater.

You may be asking yourself what does this have to do with banking?

I think it is important to know a little about the people I work with the most. That personal touch has helped when developing relationships with state legislators and other lobbyists. I’m always amazed at the common interests and friends we discover. Getting to know more about where individuals came from and what they have done builds a long lasting working relationship. Bankers already do this with their business planning, and it’s something that bankers should consider as part of their advocacy efforts. Think about this.

• State lawmakers are leaders in the community.

• Most banking issues (regulatory burden) are coming out of Washington, D.C.

• Missouri’s congressional delegation almost exclusively has strong ties to Jefferson City — most started in the state House of Representatives.

• the effect of term limits in the Missouri House and Senate

In January 2015, MBA makes a simple request to each of our bank members — schedule and make a Target

Banker visit to Jefferson City.

I promise you that Chris Lepper will ensure your visit to the state Capitol is productive, enjoyable and a great investment of your time and for your bank. While in Jefferson City, you will learn more about your MBA staff, the lawmakers who are making decisions on your behalf and about yourself. That’s a guarantee.

Until then, go Cardinals, Royals, Rams, Chiefs and Mizzou!!!!!!!!!!!


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Call Paula Hansenat 800-234-4939

The MBA VEBA Board of Trustees met Sept. 23 for the annual review of plan design and rate decisions for 2015. These discussions included a detailed analysis of recent VEBA claim experience and the impact of compliance with the Affordable Care Act. MBA VEBA plans are fully compliant with ACA provisions, including full coverage for pre-existing conditions.

MBA VEBA has seen a return to normal medical claim levels in 2014 following the unusual period of severe claims experienced last year. This better claim experience and the needed revenue increase in 2014 have improved the fi nancial position of the VEBA Trust and increased available claim reserves. In considering the 2015 renewal, the Trust must project revenues to cover expected claims by

MBA VEBA Insurance Services

John L. Hunt, CLUMBA Senior Vice [email protected]

Trustees Approve Favorable 2015 Renewal

including an infl ationary trend factor in medical claim costs that pushes costs up by as much as 6 percent each year. In addition, the Trust must include the increased cost of federal ACA compliance that improves benefi ts in 2015. In the fi rst eight months of 2014, the VEBA Trust has paid more than $11 million in medical and pharmacy claims. In 2015, total medical and pharmacy paid claims in the Trust are projected to be $20.4 million.

Taking into account the impact of infl ationary trend on overall plan costs and the additional costs of ACA compliance and federal fees, the Trustees have set an overall average medical rate increase for 2015 at 4 percent, an amount less than typical infl ationary trend. Approximately 1.5 percent of this needed increase is directly related to federal ACA compliance. Returning to

the concept of tiered renewal actions in 2015, about a third of VEBA clients will see no change in rates. The middle grouping will see a 4 percent increase, and the top tier will receive an 8 percent increase. Revised rates and ACA required plan changes are effective Jan. 1, 2015.

It is important to note this renewal action is offered at no change in benefi ts for current VEBA plans. Actually, there is an improved benefi t for the traditional PPO plans because, in 2015 ACA requirements, both medical and outpatient pharmacy co-pays will accumulate toward the maximum plan out-of-pocket limits. The MBA VEBA Trustees felt that improved fi nancial experience in 2014 would allow the preservation of benefi ts in the coming year, with no increases in deductibles or copayments.

The complete range of MBA VEBA plans is available to allow selections that best suit the needs of individual banks.

Additional good news includes a rate reduction in group long-term disability rates that will range from 9 percent to 16 percent, and no change in dental, vision or life insurance rates. Finally, with a reallocation of reserves, MBA VEBA has created an improved methodology for managing the payment of run-out claim liability related to member groups that leave the Trust. Effective Jan. 1, 2015, the revised Trust participation agreement will not include a terminal l iability provision.

So, average medical rates are increasing at a rate less than typical trend assumptions, benefi t levels are being preserved and other VEBA lines of coverage are seeing

rate reductions or no change. MBA VEBA continues the strong position it has maintained for 38 years.

employee benefit highlights 2015

For more information on MBA VEBA’s full range of employee benefits, including medical, dental and vision, call 800-234-4939.

By Rob Hoff, CRCMVice PresidentMBA Compliance Services

With Veterans Day approach-ing Tuesday, Nov. 11, bank compliance staff should re-view the requirements of the Servicemembers Civil Relief Act (SCRA). In addition, banks will want to review the proposal under consideration by the U.S. Department of Defense to help servicemem-bers who borrow from banks and other fi nancial service providers. And, while we’re on this subject, be sure to attend a Veterans Day service in your area and thank the veterans for defending our freedoms!

With regard to SCRA, on Aug. 18, 2014, the Offi ce of the Comptroller of the Cur-rency (OCC) Deputy Comp-troller for Compliance Policy Grovetta Gardineer told a trade group for military banks that OCC is increasing its fo-cus on SCRA. The OCC now requires examiners to evaluate SCRA compliance during ev-ery examination. In addition to concerns about weaknesses in bank compliance programs to comply with SCRA, Gar-dineer also discussed unfair and deceptive acts or practices associated with overdraft and other administrative fees as a compliance concern, noting that overdraft fees continue to be a serious complaint by bank customers. She said, “I understand why customers are frustrated when I personally go through page after page of legal notices and disclaim-ers before I fi nd what is often poorly worded disclosures about fees.”

So, what are banks required to do to comply with SCRA? Let’s start by a look at the purpose of the law.

For nearly a century, Con-gress has provided special


protections for servicemem-bers and their families. The Servicemembers Civil Relief Act of 2003 helps ease the economic and legal burdens on military personnel called to active duty status. The law has dozens of provisions to assist soldiers, sailors, airmen and marines to help manage their fi nancial and legal obligations while they are away from home in loca-tions around the world. There are several protections within SCRA; this article will focus on the major provisions af-fecting banks.

The primary requirement of SCRA is the limitation to 6 percent the interest rate that can be charged on certain credit obligations, including credit card debt, for active duty servicemembers. The in-terest cannot exceed 6 percent for credit obligations while on active duty, and any ex-cess interest cannot become due once the servicemember leaves active duty. In addi-tion, for transactions secured by a mortgage, the interest rate restriction remains in ef-fect for a period of time (cur-rently one year) following the end of active duty.

The following are some of the primary requirements.

1. Determine if you have any customers covered by SCRA. SCRA protects all servicemembers on federal “military service,” including any member of the U.S. Armed Forces on active duty (Army, Navy, Air Force, Marine Corps and Coast Guard), Na-tional Guard and reserve personnel called to active duty and certain others. Note that “active duty” does not mean deploy-ment. In addition, many of SCRA’s protections extend to dependents, but the cov-erage varies.

Banks can use this website — https://www.dmdc.osd.mil/appj/scra/scraHome.do — to determine if a servicemember is on ac-tive duty. A copy of the printout should be retained in the credit fi le. Searches require the servicemem-ber’s full name, Social Security number and date of birth.

2. Develop a policy and procedures that will adjust interest rates and pay-ments on existing loans to borrowers when they enter into active military service to a statutory limit of 6 percent. The interest rate cap does not apply to a loan made after or dur-ing active duty, as theo-retically the bank is using current income from the military to underwrite the loan. The intent of SCRA is to reduce the interest rate and monthly loan payment to better match

the servicemember’s in-come after entering active duty, which is usually less pay than from a private payroll job.

Let’s assume your cus-tomer is in the reserves and has a couple of loans (home purchase, car and credit card) with your bank. She gets called to active duty status and is eligible for relief under SCRA for all of these loans, provided she is an actual borrower on them. If, however, this same customer is on active duty and comes into the bank to fi nance a new purchase, like a differ-ent car, she cannot claim relief under the act for that loan because the debt was incurred while on active duty status.

3. Send a special delinquen-cy notice referred to as the “Servicemembers Civil

Remember Our Military, Veterans!Compliance Update

Relief Act Notice Disclo-sure” to borrowers on all mortgage loans, including conventional mortgages and mortgages insured by HUD (U.S. Department of Housing and Urban Devel-opment). The notice must:

• be sent to all homeown-ers who are in default on a residential mortgage

• include the toll free Mili-tary OneSource number to call if servicemembers or their dependents require further assistance (800-342-9647)

• be made within 45 days from the date a missed payment was due, unless the homeowner pays the overdue amount before the expiration of the 45-day period

As a best practice, many banks will send this notice with any 30-day delin-quency notices to ensure

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By Jason Bauer, FI SpecialistMBIS

Updated and enforceable internal controls are absolutely necessary to mitigate your bank’s liability in areas of exposure that are outside of a management’s capability to control. MBIS recognizes that, no matter how effi cient, modern and thorough your internal controls are, some acts of human nature, with all of its complexities, just can’t be foreseen.

Financial institution bonds exist to account for human nature’s complexity Even trusted employees, sometimes with longstanding relationships with their community-bank employers, are capable of explicit fraud.

Then there are the outside threats — too many to list here.

Financial institution bonds offer core protections, but it is important to recognize these are fl exible instruments, amendable to protect against the myriad new threats of fraud that all community banks must consider. A properly written policy will extend coverage at the time of a crime or fraud’s discovery, even if the act occurred before the policy was enacted. As fi rst-party policies, they protect banks against the loss of bank assets — a distinction from professional liability protections.

Coverage has evolved as technology and new threats have emerged, but core

areas of coverage remain the bedrock of most fi nancial institution bonds.• Fidelity coverage extends

to employee dishonesty — embezzlement, whether done alone or in collusion with others. The burden of proof, however, is upon the employer to substantiate the intent of dishonesty by the employee and, in some cases, proof of a certain dollar value of personal benefi t.

• On-premises protection insures assets lost from several types of theft, such as robberies, burglaries, larceny.

• In-transit protection covers robbery, larceny, theft and misplacement of property while that property is off a bank’s premise and in transit.

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• Forgery coverage extends to bad checks, counterfeit checks or drafts, including electronic signatures.

• Securities coverage extends to loss from the insured having, in good faith, acquired, sold or delivered, or given value, extended credit or assumed liability, on the faith or any written, original certifi cated security or certain other types of specifi ed instruments that bear a forged signature or has been counterfeited, altered, lost or stolen. Physical possession by the insured, its correspondent bank or authorized representative is a condition precedent to coverage.

• Counterfeit currency covers loss resulting directly from the receipt

by the insured, in good faith, of any altered or counterfeit money. The Secret Service estimates increase, as printing technology is available to more thieves.

Other extensions of coverage have cropped up as threats have evolved. Computer fraud, debit-card protection, ATM protection and check-kiting protections are examples of those areas, but many others exist. The determination to carry such extensions is an area in which your insurance agent can be indispensible in helping to identify threats that are not covered by the core areas of a fi nancial institution bond.

But even with the core protections, MBIS provides

Understanding Financial Institution Bonds

(continued on Page 19)

NOT A QUESTION OF IF, BUT WHEN…

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Veterans Share How Segs4Vets Helped Them His buddy injured in the same attack was transferred with Stout to Germany. Their experience and injuries brought them together, and humor aided their recovery.

“He would hide my cane or push my wheelchair down to the end of the hall, so I would hide his prosthetic leg,” Stout jokes.

Humor is just one of the multiple emotions Stout has experienced since his injury.

“To get a leg injury is debilitating, both physically and mentally,” Stout explains. “Before the injury, I was physically fi t, running all the time. Now, I’m gaining 10 pounds a year and seeing all that weight. I’m not a big guy, but I’m not the same guy.”

Stout’s choice to be “limb salvage” hasn’t been easy. To date, he has had 39 surgeries, with the most recent last November, and he has “drawn a line in the sand.” If a new leg brace doesn’t work, then he has decided to amputate his leg.

“I’m ready to move on. It’s been a long time.”

Since his injury, Stout has struggled to walk long distances or for

signifi cant amounts of time, experiencing exhaustion from merely walking. Stout admits post-traumatic stress disorder contributed to the demise of his fi rst marriage. Despite these struggles, Stout said his injury is not the worst thing that has happened. In fact, he has “a lot to be thankful for this injury,” thanks to Segs4Vets.

Stout, along with fi ve other veterans, was presented with a Segway in 2009 during a standing ovation from the crowd before a St. Louis Cardinals baseball

game at Busch Stadium.

“It was an amazing

feeling,” Stout said. “You don’t realize how much people care until you see something like that.”

Through Segs4Vets, Stout has met wonderful people who have become his family. The organization’s founder, Jerry Kerr, has been a mentor and friend. Today, Stout serves on the Warrior Board for Segs4Vets, helping veterans to reconnect with the world. He fi nished college and now works for the United Way Kansas City as a veterans navigator, helping to connect veterans to resources for health care and fi nancial assistance available to them. He and his wife, Erin, have four children ranging in age from 2 to 15.

“Meeting Jerry and Segs4Vets turned my life around,” Stout said. “I became a better husband and father because I was more engaged with my family. I can now go to the zoo with

my 2-year-old son and enjoy walking with him; I’m not sitting on a bench waiting for my family to return.

“Segs4Vets gave me my life back.”

Growing up in Paris, Tenn., Mike Fayette didn’t really know what he wanted to do in life, but he knew he wanted to do something fun and exciting. After his junior year of college, Fayette joined the Army because both he and the university “agreed that a 1.13 GPA wasn’t quite cutting the academic standard!”

Fayette admits his motives for joining the Army were purely economic; he planned to take advantage of the GI Bill to return to college, graduate and fi nd work.

“As it happened, I fell in love with the Army and stayed there for nearly 30 years,” Fayette said. His experiences allowed him to be assigned to positions at the squad level all the way to the Pentagon.

During his career, Fayette was deployed “all over the globe.” His most memorable deployments were to Kuwait in 1991 for Operation Desert Storm and in 2005 to Iraq for Operation Iraqi Freedom.

“During the fi rst Gulf War, I worked in support of the 1st Infantry Division and spent the majority of the year assisting the creation of a set of combat equipment in Kuwait to deter future attacks and allow U.S. and NATO forces a more effi cient and effective way to defend U.S. interests in the region,” Fayette said. “During my deployment to Iraq, I worked as part of the Iraq infrastructure rebuilding process. My proudest moments were being a part of the very fi rst Provincial Reconstruction Team in Iraq,

working under the command of the 101st Airborne Division in Northern Iraq.”

In Iraq, Fayette worked closely with former Kurdish Peshmergan military forces, “who welcomed our efforts with extreme enthusiasm and appreciation for U.S. and NATO support,” Fayette said. “My soldiers worked side-by-side with many veterans of Saddam’s war against the Kurds, and eventually we earned their trust and respect. It was highly rewarding to know that our rebuilding efforts were effective and appreciated.”

Unfortunately, everyone did not feel the same about the soldiers’ rebuilding efforts. Fayette said 2005 and 2006 were “some of the most dangerous in Iraq” because of attacks from Iraqi forces and foreign jihadists. And, soldiers could tell which group was responsible for an attack.

“The jihadists’ attacks were well-trained, disciplined fi res,” Fayette explained. “We knew these groups were extremely trained and well-armed; they didn’t fi ght like Iraqi forces. The Iraqis fi red wildly; there was no discipline with their attacks.”

During a combat convoy operation Aug. 11, 2005, foreign jihadists fi red on Fayette’s squad with an improvised explosive device that “fl ipped us around.” “The jihadists laid a trap for us,” Fayette said. “We were in the wrong place at the wrong time.”

The attack lasted 32 minutes. One soldier died. Several were wounded. Fayette was shot in the head and sustained crushing injuries (spine, pelvis, multiple fractures). Fayette does not remember much about the

attack. Most of what he knows about the attack is from the post-blast analysis, which investigates the attack to counter future attacks.

Fayette was treated for his injuries in Iraq at a U.S./NATO medical hospital. He left Iraq in 2006, when his tour was fi nished. He is not an amputee but has had hip replacement and spine surgeries “from fractures in old wounds that didn’t heal properly.” Fayette also has lesions on his brain and limited motor skills because of neurological damage to his body. Labeled as “permanently medically disabled,” Fayette retired from the Army after more than 30 years of service.

“Over time, you run out of gas. You can only withstand these injuries for so long.”

Like other injured soldiers, Fayette’s recovery has seen its ups and downs. He attributes his recovery to the loving support of his family

Chris Stout poses with his 2-year-old son. Thanks to Segs4Vets, Stout can now enjoy outings with his family, something that was once difficult to do because of his injuries.

With more than 30 years of service to the Army, Mike Fayette’s most memorable deployments were to Kuwait in 1991 for Operation Desert Storm and in 2005 to Iraq for Operation Iraqi Freedom. He said, “The Segway is a tool, but it becomes an extension of you. It opens doors and helps veterans regain confidence.”

continued from Page 1


— his wife, Libby, and their four children ages 17 to 29.

“We faced challenges with my injuries,” Fayette said, “and we had to reinvent ourselves from various standpoints. We went from how we were as a couple and a family to how will we now be as a couple and family.

“While I have received a Purple Heart Medal, my family deserves the recognition. They have been with me every step of the way and continue to inspire and motivate me with their unbreakable spirits.”

This same feeling also extends to the Segs4Vets community. A few years ago, Fayette was listening to Mike Kelly call a MIZZOU football game. Kelly spoke about Segs4Vets, and this peaked Fayette’s interest.

“I searched online to fi nd out more information,” he said. “I didn’t apply for a Segway at that time for several reasons. I didn’t think I needed one; there were guys worse off than me who needed it more, and they were expensive.”

That online encounter eventually led to a phone call from a Segs4Vets volunteer who chatted with Fayette and asked if Segs4Vets could review his medical records to determine if he qualifi ed for a Segway. In April 2014, Fayette and his wife traveled to St. Louis, where he was presented with his Segway and went through training. One of the trainers was Chris Stout. Some of the others receiving training also served in Iraq in 2005 and 2006.

“It’s funny how we were all together here,” Fayette said. “We had our experiences from serving in Iraq, and Segs4Vets brought us together. It felt like family.”

That sense of family renewed a spark in Fayette. With his Segway, Fayette has found a new outlet to socially connect with others. He is able to get out of the house and take his service dog for a walk or accompany his son on a run.

“The Segway is a tool, but it becomes an extension of you. It opens doors and helps veterans regain confi dence. There is a lot of intrinsic value provided by this machine.”

The confi dence that has strengthened in Fayette has prompted him to reach out more in his community. He has begun volunteering to help mentor other veterans in Boone County.

“Segs4Vets has given me a purpose and value again,” Fayette said. “It is empowering me and others like me.”

Both Stout and Fayette praise the men and women associated with Segs4Vets. The program is completely funded by donations, and Stout notes 98 cents of every dollar donated supports Segs4Vets’ mission. Both have participated in Segs4Vets fundraising events sponsored by Missouri banks (Fayette’s oldest son is a banker in southeast Missouri), and each is overwhelmed by the generosity shown for the program from bankers and their communities. For them, they can’t imagine what their life would be without Segs4Vets, its volunteers and its supporters, whose donations help purchase Segways for veterans and give them a new lease on life.

For more information on MBA’s Segs4Vets fundraising, visit mobankers.com or call 573-636-8151.

Overcome Obstacles From Their War Injuries

Missouri Bankers Association celebrates its

Sixth Annual Segs4Vets DayNovember 7, 2014

Our bank is planning to participate in fund raising for Segs4Vets by:

p Holding a fund raising event

p Making a donation

Bank: ______________________________________________________________________________

Address: ______________________________________________ ______________________________

Phone: ____________________________________Fax: ______________________________________

Contact Person: _____________________________ Email: ___________________________________

What kind of event is being planned?______________________________________________________

How many employees are expected to participate? ___________________________________________

Checks should be made payable to Segs4Vets. Segs4Vets and its parent organization Disability Rights Advocates for Technology (DRAFT) are tax deductible under the IRS Code.

We would like to order the following supplies to help promote our Segs4Vets event:

p Tent cards, printed on 8 1/2 x 11 card stock folded to 5 1/2 x 8 1/2, qty. _____

p Poster, printed on 8 1/2 x 11 card stock, qty. _____

p Please email a PDF of the Segs4Vets tent card

p Please email a PDF of the Segs4Vets poster

p Please email a press release form in PDF format to use as a guide to submit an article to the local newspaper about our Segs4Vets event

To ensure we have time to ship supplies to you, please order two weeks before your planned event.Banks that support the 2014 Segs4Vets fund raising campaign will be recognized during the Executive Management Conference in Kansas City Dec. 3-5. Please let us know that you are participating in fund raising by Tuesday, Nov. 25 to ensure that you will be recognized. Make checks payable to Segs4Vets.

Contact: Rachael Preston, [email protected]

To order promotional supplies:

Since its creation in 2005, Segs4Vets has awarded more than 1,200 Segways to veterans. The Segways help severely injured men and women returning from Iraq and Afghanistan to choose the path of independence and to remain productive members of society. In 2014, the cost for each Segs4Vets award is expected to average $9,750. Your donation to Segs4Vets will provide freedom and mobility to the men and women who have bravely served our country.


Legal Briefing

Keith ThornburgMBA General [email protected]

Proposal Threatens Membership In FHLBs

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A proposed rule from the Federal Housing Finance Agency could fundamentally change how — or even whether — a depository fi nancial institution can remain a member of its Federal Home Loan Bank. FHFA’s proposal, published Sept. 12 in the Federal Register, alters membership rules that have been in place for decades.

The last signifi cant congressional action on membership rules was in 1989. When Congress adjusted membership requirements in 1998 and 2008, it was to expand membership opportunities. In this case, FHFA is acting on its own accord

to place both restrictions and new burdens on membership requirements.

The threat is so great to community lenders’ access to the low-cost funding available from the 12 regional wholesale banks that some in the industry have called FHFA’s proposal the “anti-liquidity regulation.” During the deepest and free-falling periods of the fi nancial crises, the performance of the FHLBs in providing liquidity to community banks was timely and effective. FHLBs were our “fi rst responders” and provided many banks and communities the “lifebuoy” that sustained them. FHLBs and

their members proved seaworthy, even as other federal agencies struggled to fi nd their footing. FHFA’s proposal pad-locks the lifebuoy and hides the keys.

Under existing law, a bank qualifi es for membership at the time of its admission. The proposal imposes, for the fi rst time, ongoing mortgage asset test requirements. These ongoing tests would be a required 1 percent ratio of “home mortgage loans” to total assets and a 10 percent ratio of “residential mortgage loans” to total assets. Members failing these tests would have their FHLB membership

terminated. This is an extreme action, especially because a terminated or withdrawing bank cannot seek readmission for fi ve years.

Banks continually adjust their business plans to the market and the communities’ needs. This is the basis that properly shapes a bank’s loan and investment portfolio, and this is what builds strong banks and strong communities. Under FHFA’s proposal, banks wanting to maintain access to the liquidity available through membership in their FHLBs will have to adjust their business plans by misallocating their assets and capital merely to meet the requirements of an arbitrary regulation. The board and management will be compelled to operate their bank in a manner that is less responsive to the community and less profi table for the shareholders, and in a manner that weakens the bank’s capital and earnings. There will be an ongoing regulatory burden and expense to monitor compliance and in responding to regulatory reviews monitoring and determining compliance. Banks falling out of compliance will be subjected to corrective action plans.

When this proposal was published in an advanced notice of proposed rulemaking, the response

and comments were overwhelmingly opposed. The wisdom in the statement “if it ain’t broke don’t fi x it” has never been more appropriate. We know that every regulation comes with side effects and unintended consequences. Yet, FHFA has summarily discounted all concerns to “fi x” something that works. The risky action of the FHFA is untenable.

The proposal would have an especially adverse effect on community banks. It removes the certainty that FHLBs will be there as a reliable source of liquidity for their members in all market conditions.

Comments on the proposal are due Wednesday, Nov. 12. Comments can be sent to Alfred M. Pollard, General Counsel, Attention Comments/RIN 2590-AA39, Federal Housing Finance Agency, 400 Seventh Street SW, Eighth Floor, Washington, DC 20024 or submitted online at www.fhfa.gov/open-for-comment-or-input. The reference number to include in the subject line is RIN 2590-AA39.

For more information, contact Curt Heidt, FHLBank of Des Moines, at 515-281-1175 or [email protected]. Follow developments on Twitter by using the hashtag #liquiditybuildscommunities.


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Titling Tips

By Linda PetersenManagerMBA Title Service

A duplicate title is needed when a customer has lost the title or when the original title has been mutilated. If your title has been damaged with incorrect, illegible or missing information or if it has infor-mation that has been blacked

What To Do With Duplicate, Lost Titleor whited out, the title is considered mutilated, and a duplicate is necessary.

The fi rst thing to determine before applying for a dupli-cate title is what the original title said. The duplicate should be issued in exactly the same ownership names that appear on the original title. Other information such

as year, make and VIN will transfer exactly the same. The original date of purchase also will also appear on the duplicate.

You will need to check the original title for liens. It is possible to release a previ-ous lien on a duplicate title and fi le a new one all in one process. You do not need to get two titles. Include a lien release for the lien that appeared on the original title and put your new lien on the duplicate title application. You also must pay the extra $2.50 processing fee to add the lien. The duplicate title fee is $8.50 plus a $2.50 processing fee.

If there has been a legal change of name since the original title issued, the owner name can change in accordance with the legal documents. To change a name on a duplicate title, you must provide a copy of

a marriage license, a divorce decree, a court order or a driver’s license. All of these documents show the legal name of the individual and are accepted by the Missourit Department of Revenue as proof of name.

You are not allowed to add or delete owners from dupli-cate titles. For instance, if you want to add a spouse to a title, you must obtain the duplicate title fi rst. Then, you would follow the procedure for adding a name and obtain another title. The only excep-tion to this rule would be if one of the owners listed on the original title is deceased. A copy of a public death notice or death certifi cate can accompany your application for duplicate title, and the deceased person’s name will be removed. A title on death also can be removed, added or changed because a TOD has no ownership rights until the original owner(s) of the

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vehicle are deceased.

When you have gathered all the necessary informa-tion, it’s time to complete a Missouri Application for Title, DOR Form 108 (DOR Form 93 for a boat or mo-tor). The owner will sign the application in front of a notary public, who will mark the box indicating the reason for the duplicate title. A lender is not allowed to sign a duplicate title application unless the lost/mutilated title was originally mailed to the lender rather than the owner of the vehicle. If the lender signs the application, they would sign the lender name by the agent name and title, not the owner’s name.

For more information, contact Linda Petersen, manager, or Joyce Vaught, title service specialist, with MBA Title Services at 573-636-8151, [email protected] or [email protected].

they have met the 45-day requirement. It should be sent to all delinquent mortgage customers because the bank may not know if a borrower is in the military.

SCRA prohibits foreclosures during active duty and for a specifi c time period there-after. This time period has fl uctuated over the years and currently is one year. Howev-er, this one-year period is set to expire Dec. 31, 2014, and revert to 90 days, effective Jan. 1, 2015. Banks will need to adjust the language in the notice at that time. However, Congress could once again change this time period, so watch for any developments.

Another item to watch — the Defense Department

proposed Sept. 29, 2014, to tighten loan rules for service members (and their depen-dents). This proposal would amend existing regulations that primarily target tax re-fund anticipation loans, pay-day loans and car title loans, which often leave too many loopholes to provide protec-tions to a broader range of credit products. Comments on the proposal are due by Friday, Nov. 28. More details on this announcement are available at https://www.federalregister.gov/arti-cles/2014/09/29/2014-22900/limitations-on-terms-of-consumer-credit-extended-to-service-members-and-dependents.

If you have questions, please contact Mike Noblett, compliance manager, at the

MBA Compliance Hotline at 573-636-8151 or [email protected]. This article is for informational purposes and does not contain or con-vey legal advice. The infor-mation should not be used or relied upon in regard to any particular situation without consultation with your bank attorney.

MBA Compliance Services and its Compliance Force program offer various programs to aid banks with compliance needs, including on-site education, in-bank training, compliance and loan reviews. For more information, contact Carol Barnett, MBA senior vice president of compliance services, at 573-636-8151 or [email protected].


Proposal Tightens Loan Rules For Servicemembers


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Endorsed Vendor Profile

Please describe your business.Promontory provides banks with balance sheet management solutions that can assist them on both the asset and/or liability side of the balance sheet. Promontory has relationships with about 3,000 banks, including 130 banks in Missouri that, together, form the Promontory Network. The network allows each member bank to benefi t from the power of many — enabling them to offer services that otherwise might be too diffi cult or costly to offer on their own.

What are your key services?Promontory’s services help banks to acquire and retain large-dollar customer relationships, purchase funding, manage liquidity, reduce collateralization costs, and buy and sell bank assets. Promontory offers multiple liability-side offerings. CDARS® and Insured Cash Sweep®, or ICS®, both offer safety-conscious bank customers access to multimillion-dollar FDIC insurance on large-dollar deposits. When a Promontory Network bank places a customer’s large-dollar deposit through CDARS® or ICS®, that deposit is divided into amounts under the FDIC maximum of $250,000 and is placed in deposit accounts at other Promontory Network banks, thus making the deposit eligible for FDIC insurance. Deposits are placed in CDs when using CDARS® and in demand deposit accounts and/or money market deposit accounts when using ICS®.

Through both CDARS® and ICS®, a bank can

keep the full amount of its customers’ deposits on its balance sheet by receiving reciprocal funding or, if it’s fl ush with cash, it can sell its excess deposits for fee income. Banks also can use these services to purchase cost-effective wholesale funding. Because the funds are eligible for FDIC insurance, all of this can be done without ongoing collateralization or stock purchase requirements.

On the asset side, banks can manage their asset portfolios through Bank Assetpoint®, a marketplace through which they can fi nd opportunities to buy and sell various bank assets, including loans, loan participations and new loan originations. Banks use Bank Assetpoint® to search for or showcase a broad range of asset listings, making asset purchases and sales more effi cient. The Promontory sales force can assist banks in making the appropriate connections. Bank Assetpoint® has more than 1,300 banks registered and more than 8,000 participants.

Why do these services matter?Promontory services assist banks on both sides of the balance sheet. Using Promontory’s liability- and asset-side solutions, your bank may be able to access larger and more diverse growth opportunities, increase the stability of its customer relationships, gain funding and operational effi ciencies, manage interest rate risk and maintain greater fl exibility with its funding options and asset portfolio.

With CDARS® and ICS®, the potential benefi ts for banks are many — growth

by attracting large-dollar customers, effi ciency through reduced acquisition/retention costs and collateralization burdens, fl exibility through a variety of funding options and stability by protecting your best customer relationships. These services enable community banks to compete with larger fi nancial institutions as they retain and attract customers in their community, protecting their customers’ funds through access to FDIC insurance.

With Bank Assetpoint®, banks can supplement organic loan growth by acquiring assets in targeted areas or industries and originate larger loans by marketing participations to a nationwide marketplace. In addition, by selling loan assets, banks can expand lending capacity to meet borrowers’ needs as they grow and can reduce asset concentrations as portfolio needs change.

What are challenges confronting banks?Banks will have to look at their liquidity. What happens when the Fed increases interest rates? How are banks preparing now for the potential that deposits may leave when more attractive investment options are available? Are banks doing what is necessary to manage interest rate risk now by locking in their best customers with attractive and fl exible deposit options? As for lending, growth is stronger than it has been, but there is stiff competition among banks; smaller banks have to compete with large regional and national banks. Promontory’s services provide options to address issues both on the lending and deposit side.

What sets your business apart?Promontory is a pioneer with its deposit placement services that offer access to multimillion-dollar FDIC insurance. Its network of banks is unparalleled, providing the benefi ts that come from both the network’s size and the fl exibility of services provided. The company continually explores options that benefi t community banks. Now, it covers the assets side of the balance sheet, working to connect banks to each other and with other institutions to grow and diversify their loan portfolios.

Why should banks choose Promontory?Promontory has a strong reputation in the banking industry. Promontory’s founders and advisory board members include leading fi gures from the banking industry. Their sales force provides knowledgeable and personalized service. The company is a reliable, trusted service provider, helping community banks help their customers, who in turn help their communities.

What would bankers be surprised to know about Promontory?Promontory has the ability to provide banks with a full array of balance sheet management solutions. Many people know Promontory for its CDARS® service, but the company offers much more than that. There isn’t much that a bank considers when managing its balance sheet that Promontory can’t assist with in some way. As a full-scope provider, Promontory team members align themselves as the banks’ partners to help them achieve their goals as they assist their customers with banking needs.

Learn MoreGo to promnetwork.com or contact Lance Caldwell, managing director, at 866-776-6426, ext. 3487 or [email protected] or Patrick Melland, regional director, at 866-776-6426, ext. 3422 or [email protected].

The Missouri Banker will feature an endorsed ven-dor each month. For more information on becomoing an MBA endorsed vendor, con-tact Chris Lepper, grassroots and bank PAC coordinator, at 573-636-8151 or [email protected].

GET SMART WITH FINANCIAL

LITERACY!

Financial education is a priority for

Missouri bankers. MBA member banks

are teaching children to save,

educating teens to use credit wisely,

helping young adults to budget

and fi nance a home and

counseling adults on credit and debt management. Visit mobankers.com to access resources on fi nancial literacy for every age group.


Associate Member Profile

Please describe your busi-ness.BancMac is a correspondent lending program that as-sists community banks in their ability to offer fi xed rate mortgage loans to their communities and clients. We offer fi xed rates, including conventional, USDA rural development and VA loans.

What is your business phi-losophy? Our commitment is to the success of our customer.

What are your key ser-vices? BancMac serves as an outlet to community banks to of-fer secondary market loans. We help community banks through the whole mortgage lending process. We provide software for our clients to perform early disclosures. We also underwrite, prepare closing documents and then purchase the mortgage loans after closing. We also will service the loan.

Why do these services mat-ter to Missouri banks? Many community banks want to offer mortgage services to their customers but may not have the resources to carry out all the requirements that go into maintaining and selling loans directly to the secondary market. With the mounting amount of compli-ance and servicing regula-tions, it is not feasible for smaller banks to take on this task for mortgage lending. We are removing the bulk of the work for the bank by providing mortgage lending services to the banks.

What is a challenge you face in your business? We try to anticipate the regu-lations to stay ahead of them while helping our banks to understand these regs. There is constant change in the regulations and underwriting guidelines for the secondary market.

What is a major challenge confronting banks today?Compliance, regulations and quality control.

What sets your business apart from others?BancMac is a community bank partnering with com-munity banks. We understand the needs and challenges of community bank lending. We understand rural communi-ties and know what banks in these communities need. We don’t require a mini-mum volume to partner with BancMac, as some do, and we don’t compete with our partners for future business from their personal clients. In fact, we refer customers back to their community banks because we are one of them.

Why should a customer choose your business?We have high caliber cus-tomer service. Our lenders can always pick up a phone and speak to an underwriter about their fi le or even if they simply have a question. We guide them through every as-pect of the mortgage process. We are here for them.

What makes you the most proud about your business?Our employees are very dedicated and work very hard to know and understand our clients’ needs. Our clients are like family to us.

What can banks expect from your company?Excellent customer service and in-depth knowledge from our staff on the mortgage loan industry and compli-ance challenges facing banks with mortgage lending. Our professional staff is available to answer questions; calls are not sent to voicemail. And, we offer competitive rates.

What is one thing you want banks to know about your business?Most of our underwriters have been originators in the past. This gives them a unique understanding of the bank originators’ needs and challenges in the mortgage lending process.

What would banks be sur-prised to know about your company?We are good down-to-earth people who understand their needs.

What three words would you use to describe your business?Competitive, reliable and customer-oriented.

You have fi ve minutes to pitch your service to a po-tential bank. What would you say?We are a community bank out to help other community banks. We service loans for banks, but payments can still be made through the local community banks because we understand the value and importance of having that face-to-face interaction with customers. We know the importance of walking into that local bank and having that relationship with the lo-cal bank.

How can banks learn more about your business?Contact Mary Sexton at 888-821-7729. I am always open to visiting banks that might have an interest in discover-ing more about BancMac.

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Call 800-234-4939 today for your enrollment packet.

Section 125 Cafeteria PlanAdministration

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• Auto Adjudicated Health and Prescription Claims.

• By using tax-free dollars to pay for qualifi ed expenses, your employees increase their spending power as well as their tax savings.

• Employer payroll tax reduction as FICA taxes do not have to be paid on elected employee deductions. Your business can save 7.65 cents for every dollar contributed.

• $4 per participant / month

An MBA associate member will be featured in The Mis-souri Banker each month. MBA associate membership is designed for vendors, con-sultants and fi nancial service providers offering important products and services to Missouri banks. If build-ing stronger relationships with fi nancial institutions in Missouri would be benefi cial to your business, consider joining MBA as an associate member. For more informa-tion, visit mobankers.com.


Members Visit D.C. To Discuss Banking Issues

More than 30 bankers traveled to Washington, D.C., to visit with congressional leaders and regulatory agencies Sept. 30 through Oct. 2. During the visit, bankers discussed banking issues with Sens. Roy Blunt and Claire McCaskill. Gov. Jerome H. Powell of the Federal Reserve System met with Missouri bankers to hear their thoughts on economic activity and regulatory issues, including qualified mortgage and ability-to-repay rules.

Thomas M. Hoenig, left, vice chair of the Federal Deposit Insurance Corporation, greeted Max Cook, right, MBA president and CEO, at a FDIC briefing. Cook and bankers shared with FDIC officials their views on qualified mortgage and ability-to-repay rules, as well as the “avalanche” of regulations affecting banks.

Although the Washington Nationals were in post-season play during MBA’s advocacy trip, Missouri bankers stayed loyal to their hometown teams while in D.C. Bill Dana, president and CEO of Central Bank of Kansas City, sports his allegiance to the Kansas City Royals, who rallied to win late-inning games against the Oakland Athletics and Los Angeles Angels.

While in Washington, D.C., bankers enjoyed visiting with colleagues at Bobby Vans Steakhouse. Jim Barnett, chairman of Peoples Bank in Cuba; Scott Breckenkamp, president - Washington Bank, of First State Community Bank in Washington; and Dan Combs, vice president and investment officer with First State Community Bank in Farmington, share their thoughts on their visit and meetings.


ActionsEffective Sept. 15, 2014, Bank of Belton, Charter No. 279, merged with and into Metcalf Bank in Lee’s Summit, Charter No. 2895 (the surviving bank).

Great Southern Bank in Reeds Spring has canceled Certifi cate of Authority No. 3360 that authorized a separate branch at 1011 Gulf St. in Lamar. The bank discontinued operation of this branch Sept. 12, 2014. Accordingly, Certifi cate of Authority No. 3360 is considered to be null and void.

First National Bank of St. Louis in Clayton has requested to convert its charter from a national banking association to a state-chartered bank.

Commerce Bank in Kansas City has canceled three certifi cates of authority; the bank discontinued operation of these branches July 25, 2014. Accordingly, Certifi cates of Authority Nos. 3689, 3690 and 3691 are considered to be null and void.

Certifi cate of Authority No. 3843 was issued to Bank of St. Elizabeth, granting the bank permission to establish and maintain a separate branch at 3855 Osage Beach Parkway in Osage Beach.

Certifi cate of Authority No. 3844 was issued to American Bank of Missouri in Wellsville, granting the bank permission to establish and maintain a separate branch at 901 Highway K in O’Fallon.

Bremen Bank and Trust Company in Hazelwood has canceled Certifi cate of Authority No. 3218 that authorized a separate branch at 9895 Big Bend, Suite 205 in Oakland. The bank discontinued operation of this branch Sept. 30, 2014. Accordingly, Certifi cate of Authority No. 3218 is considered to be null and void.

Certifi cate of Authority No. 3721-A was issued to Commerce Bank in Kansas City, granting the bank permission to relocate its already established branch from 4019 Chouteau in St. Louis to 901 S. Vandeventer in St. Louis.

Providence Bank in Columbia has requested permission to relocate its already established branch from 3253 Ronald Reagan Drive in Lake St. Louis to 460 Hawk Ridge Trail in Lake St. Louis .

MBA Silent Auction Benefits Foundation

Each year, the Missouri Bankers Association hosts a silent auction during its Executive Management Conference. The 2014 auction will be held from 5 to 6:15 p.m. Thursday, Dec. 4, at the InterContinental Hotel in Kansas City. The auction benefi ts the Missouri Bankers Foundation, which provides scholarships to students pursuing banking careers. The foundation’s mission has grown to include several initiatives, including the Young Bankers Leadership Division, statewide fi nancial literacy efforts, a robbery reward program, MBA Century Banks, MBA Speakers Series and MBA 50 Year Club.

MBA is asking its members to please consider a donation to the auction. Some popular items in the past include golf/sports/hunting equipment, collectibles, Christmas items, certifi cates, autographed memorabilia, handcrafted or one-of-a-kind items, art and jewelry. If you are unsure about what to donate, MBA will do the shopping for you!

Cash donations will be used to purchase unique items that will be credited to your organization.

The Wall of Wines Raffl e has been a popular addition to the silent auction, and this year’s raffl e features a new twist with a new name. The Holiday Cheer Raffl e will include chances to win wine or cash prizes, with a grand prize that could be as much as $2,500! Please consider purchasing Holiday Cheer Raffl e tickets. Only 100 tickets are being sold this year — when they’re gone, they’re gone! Pre-order tickets today, or you may purchase tickets when submitting your registration for the Executive Management Conference.

Auction donation forms and Holiday Cheer Raffl e ticket order forms are available online at mobankers.com.If you need ideas or have questions, or to request forms, contact Rachael Preston, MBA director of marketing, at 573-636-8151 or [email protected].

MBA Executive Conference Features National SpeakersThe Missouri Bankers Association’s 2014 Executive Management Conference will be held Dec. 3 through Dec. 5 at the InterContinental Hotel in Kansas City. The conference features national speakers sharing their thoughts on issues affecting the banking industry, including the following.

• Imagine living a lie for 31 years. That’s what James Olson did while spying for the CIA. Spying for his country was the furthest thing from his mind when Olson, an Iowa farm boy, received a mysterious phone call that changed his life forever. Olson shares the real world of being a CIA spy as he describes the rigorous training and the diffi cult dilemmas spies face on a daily basis. Olson explains how the global war on terror affects everyone and why the United States needs spies to protect the country and its vital interests.

• The Federal Reserve is tapering its extraordinary monetary policy, and global markets are reacting. How will this affect the U.S. economy? How will it affect you? Marci Rossell, Ph.D., a former chief economist featured on CNBC, examines the forces at work in the economy and fi nancial markets in the upcoming year.

• Payments are a fi nancial institution’s franchise. Satisfying your banks’ customers with payment services brings new challenges in securing this critical channel. In addition, consumers are legitimately concerned with widespread data breaches at regional and national merchants. David Peterson with i7Strategies in Hahira, Ga., will highlight tools and best practices from the perspective of a senior manager so participants can understand actual payment risk and how to mitigate it.

• Most community banks are keenly aware of the complex challenges and pressures that face their bank today, but many of them also lack timely and accurate insight into how their bank actually manages these challenges and performs. J.P. O’Sullivan with SNL Financial LC in Charlottesville, Va., will examine business intelligence for community banks and the key challenges that business intelligence can solve. He will share how community banks can leverage “little data” to have meaningful impacts on their business.

Additional information and registration materials for MBA’s Executive Management Conference are available at mobankers.com.


AgendaOctober 201422 Security Management Seminar, Stoney Creek Inn,

Columbia22 and 29 ABA Principles of Banking Class, MBA Offi ce,

Jefferson City30-31 Bank Legal Issues Conference, Courtyard by

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

ColumbiaDecember 20143 MBA Board of Directors Meeting, InterContinental

Hotel, Kansas City3-5 Executive Management Conference, The

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

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

BeachMarch 201524- 25 Tri-State Leadership and Human Resource

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

Osage Beach

AchievementsCentral Trust & Investment Company of Springfi eld, affi liated with Empire Bank and Ozark Mountain Bank, has announced two new hires. Janet Helfrecht, J.D., is vice president, trust administrator and relationship manager. In addition to her legal experience, she has estate planning and probate experience that she will benefi t Central Trust’s customers. Candice Reed recently joined Central Trust as vice president and wealth management advisor. Reed has worked in various roles in banking and business development, including fi ve years in the trust business. She will assist customers with their investment and estate planning needs.

Melanie Setser has been promoted to relationship manager at Empire Bank in Springfi eld. She is responsible for the administration for certain accounts and serves as their primary customer contact.

Janet Helfrecht

HOW TO SUBMIT ITEMS TO THE MISSOURI BANKER

Lori Bruce, MBA director of communications, over-sees production of The Missouri Banker. Please send achievements, announcements and classifi ed ads to [email protected] for possible inclusion in

upcoming issues of The Missouri Banker.

Metropolitan National Bank in Springfi eld recently announced a new hire and a staff promotion. Dustin Ross is the new mortgage loan originator for the Marshfi eld-Spur Banking Center. Ross has signifi cant knowledge about property values, home purchases and the inner-workings of the real estate industry. Kody Redwing was promoted from fi nancial intern to credit analyst II. Redwing is the fi rst intern to graduate from Metropolitan University’s new Financial Internship Program. The two-year program, exclusive to Metropolitan, is designed to provide a well-rounded understanding of community banking by training interns within each of Metropolitan’s 20 departments. In his new role, Redwing will determine credit worthiness as part of the loan decision process.

Danny Chadakhtzian joined Simmons Bank in St. Louis as senior vice president and senior commercial loan repre-sentative. With more than 15 years of real estate lending experience, he has extensive experience in both local and national real estate lending.

Jeff Camilleri has joined Citizens National Bank of Greater St. Louis as senior vice president-commercial lending. He has more than 26 years of helping businesses grow in the St Louis area.

Kevin Fallon has joined Community Bank of Raymore as a vice president /loan offi cer. In this role, he will focus on strengthening relationships with existing clients and developing new business for the bank. Fallon has more than 10 years of experience in credit analysis and lending.

Candice Reed

Dustin Ross

Kody Redwing

Kevin Fallon

Jeff Camilleri

Melanie Setser

Danny Chadakhtzian

STAY CONNECTED WITH MBA

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Follow Us On Twitter @mobankers


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Bank Compliance Assistant CS Bancshares, Inc., a multi-bank holding company in Chilli-cothe, Missouri, is expanding our regulatory compliance de-partment. Candidates must be organized, detail-oriented, and possess excellent communica-tion and analytical skills. Previ-ous compliance preferred, but will train. Please send resume to P.O. Box 590, Attn: Human Resources Offi cer, Chillicothe, Missouri 64601.

HNB National Bank, a 125-year-old community bank headquartered in Hannibal, MO, is seeking qualifi ed candi-dates for a Junior Lender in our Wentzville facility. Re-sponsibilities include assisting senior lenders with the man-agement of an active portfolio of commercial, real estate and consumer relationships; and soliciting, negotiating and co-ordinating the closing of loans in compliance with the bank’s lending policies, procedures and related laws and regula-tions. Two-three years loan and/or credit analyst experi-ence preferred and a familiarity with the St. Charles county area. HNB offers a competi-tive benefi ts package. EOE/AA/M/F/Vet/Disability

Cashier/Controller — Bran-son Bank is seeking a qualifi ed, experienced Cashier/Control-ler to join our team. Areas of concentration include develop-ing, implementing and over-seeing accounting, fi nance and control-related activities for the bank under the direction of the CFO. Experience in a fi nancial institution is required, with a good working knowledge of bank regulations. An account-ing degree or CPA background is preferred. This position of-fers competitive compensation/benefi ts with opportunity to grow. Branson Bank is a high-value, service-oriented bank making a difference in the communities which we serve. Branson Bank is an Equal Opportunity Employer. Please email resume to [email protected].

LANDMARK BANK is searching for a Commercial Lender to join our team in Mountain View, Missouri. Job description, requirements & application online at #14-0205. www.land-markbank.com EOE AA M/F/VET/DISABILITY

Loan Offi cerWould you like to work in a nice offi ce, with great people? Then join the Peoples Bank family. We are seeking a self-motivated individual in our Highway 19 offi ce in Cuba that is proactive, has good com-munication skills and a great attitude. The person would be responsible for small busi-ness and consumer lending. Banking/Lender experience preferred. Apply to: Human Resources, Peoples Bank, PO Box H, Cuba, MO 65453 or email cover letter and resume to [email protected]

Director of Consumer Sales & Customer ExperienceGuaranty Bank is a publicly traded, locally managed bank in Springfi eld, MO, with ap-proximately $650 million in assets. The bank is currently seeking a qualifi ed individual to serve as the Director of Consumer Sales & Customer Experience. This individual will be responsible for leading consumer sales and customer experience initiatives for Guar-anty Bank across its footprint. He/she acts as a thought leader on consumer bank-ing trends and ensures the company is positioned to be highly competitive in this area. He/she promotes a customer-centric sales and service culture through coaching, mentoring and staff motiva-tion. He/she leads a bankwide team of highly motivated and accountable consumer bank-ers, ensures that Guaranty Bank achieves banking center sales and profi tability targets. Previous banking/fi nancial in-dustry experience is required. A minimum of fi ve years’ experience in a management level position with a focus on sales and service is desired. Achievement of a bachelor’s degree in business, sales man-agement, communication or a related fi eld, or an equivalent combination of education and experience is preferred. Guar-anty Bank offers a competitive salary structure along with employment benefi ts such as insurance, 401(k), PTO (paid time off) and paid holidays. Interested candidates should visit our website at www.gbankmo.com/careers for a detailed job description and to apply online. EOE.

The deadline to place a clas-sifi ed advertisement in the November 2014 issue of The Missouri Banker is Mon-day, Nov. 10. Email ads to Lori Bruce, MBA director of communications, at [email protected]. Invoices will be emailed after ads are published.

Classifi ed advertisements are posted on the public side of MBA’s website at no extra charge for the same time period as advertised in The Missouri Banker.

Classifi ed rates are as follows.• $1 per word for one issue• $1.50 per word for two

issues• $2 per word for three issue• $12.50 for logo insertion


MBIS Can Assist Banks With Fidelity Protection

invaluable assistance to its banking partners in helping them determine the proper amount of coverage to carry. Some levels of protections are easier to set because they cover potential liabilities that are more readily estimated.

Property values can be accurately estimated, as can the average amount and type of a transaction. For instance, relative to forged securities used as collateral, it would not make sense to carry protections that exceed the amount of a bank’s typical lending limit.

However, the specifi c area of fi delity protection is much less clear because there are few standard processes of estimation for predicting potential losses that may arise from employee dishonesty. This is another area where your relationship with MBIS can create real value. MBIS’ quest is to

deploy all existing data, evaluate the community bank’s specifi c operations and recommend coverage, limits, deductible/retention, etc.

One of the fi rst things MBIS does is to review data on community-bank peer groups by asset size for suggested levels of coverage. The bottom line is there is no set policy, limits or extra protections that can be established for all banks of a certain size. However, a peer review of other banks of comparable size is a great starting point.

To learn more about MBIS products, contact Jason Bauer, FI specialist, director with MBIS, at 844-546-7034 or [email protected].


COMPLETE CONFERENCE INFORMATION CAN BE FOUND ON THE MBA’S WEB SITE AT WWW.MOBANKERS.COM.

Method of Payment ____________________

Pay by check or Invoice $395 Member Fee # _____$ _________

$290 Each Add’l # _____$ ___________

$250 Thursday Sessions Only # _____ $ ___________

$145 Friday Sessions Only # _____ $ ___________

$600 Non-Member Fee # _____ $ ___________

Total amount due $ ________

Check enclosed, payable to MBA.Invoice the bank.

Pay by Credit Card

$407 Member Fee # _____ $ _________

$299 Each Add’l # _____ $___________

$258 Thursday Sessions Only # ______$___________

$149 Friday Sessions Only # ______$___________

$618 Non-Member Fee # ______$___________

Total amount due $ _________

VISA MasterCard

Exp. Date __________________________________

No. ________________________________________

Name on Card ______________________________

Signature __________________________________

*Only VISA and MasterCard are accepted.

2014 Bank Legal Issues Conference Registration FormPlease enter the information below EXACTLY as you wish it to appear on your name badge and

registration list. Please copy this form for additional registrations.

Organization Information ________________Bank _____________________________________

Address ___________________________________

City/State/Zip ______________________________

Phone_____________________________________

FAX _______________________________

Name of Attendee(s) ____________________Name ______________________________________

Title _______________________________________

City _______________________________________

E-Mail _____________________________________

Name ______________________________________

Title _______________________________________

City _______________________________________

E-Mail _____________________________________

Name ______________________________________

Title _______________________________________

City _______________________________________

E-Mail _____________________________________

Registration Fees - The MBA is offering discounted pricing for member registration fees paid by check or invoiced. The fees are

$395 Member Fee**$290 Each Additional for Entire Conference**$250 Thursday Sessions Only - Includes Lunch$145 Friday Sessions Only - Includes Breakfast$600 Non-Member Fee

Registration fees paid by credit card are $407 Member Fee**$299 Each Additional for Entire Conference**$258 Thursday Sessions Only - Includes Lunch$149 Friday Sessions Only - Includes Breakfast$618 Non-Member Fee

**(Banker, Associate Member and/or Bank Counsel Member)Fees include meals, receptions, refreshment breaks, and conference materials.

The cost of meals and entertainment included in the registration fee for this meeting is $205. This information is provided for your bank’s tax records, in keeping with the IRS 50% deductible provisions under Section 274(n) of the Internal Revenue Code.

Cancellations - Full refunds will be granted for

2014. After that date, an administrative fee of $30 per canceled registration will be retained. Cancellations will not be accepted after October 27, 2014, and no refunds will be given. Substitutions are always permitted. Registrants are responsible for canceling their own hotel reservations.

HOTEL INFORMATION - Hotel Information - The conference will be held at Courtyard by Marriott Columbia. The room rate will be $101 per room, per day, plus state & local tax and lodging tax for single or double occupancy.

Hotel accommodations can be secured by calling 573-443-8000 or 800-MARRIOTT.

For Online reservations, go to www.marriott.com/coucyGroup Code MNKMNKA for King with Sofa Sleeper

Group CODE MNKMNKB for Double Queen If the code does not work, then the room type requested is

sold out or after the cut-off date.

CONFERENCE TOPICSForbearance Agreements

Receiverships in Missouri and Proposed Receivership Code

Receivership Panel Discussion and Q&A

Environmental Issues Impacting Lenders

Overdraft Update

Employment Law Update

Tax Credits - Overview

Vendor and Customer Due Diligence – Ever Higher Legal Standards

Washington DC Banking Law Update - Comments Operation Chokepoint and Other Issues

Title Insurance Hot Topics

Bankruptcy Hot Topics

Divining the Corporate Client: A Decisional Tool for Lawyers Representing Corporate Entities

The Trustee Attorney - Professional Ethics in Combination with Fiduciary Duties

Do you know the latest banking regulations inside and out? Would you be able to advise your bank leaders, boards and clients on how the ever-changing

regulations affect them? The 21st Annual Bank Legal Issues Conference features current issues involving the banking industry. Whether you have

MBA’s conference offers resources and insights for all legal professionals.

The Missouri Banker

Documents

Transcript of The Missouri Banker