Happy Anniversary!

In 1890, Idaho and Montana become the 43rd and 44th states, Dwight D. Eisenhower is born and First National Bank of Giddings commences operation. The people of Giddings turned out en masse on August 29 to help celebrate the bank's 125th anniversary, complete with food, music and stories. IBAT President and CEO Chris Williston visited the bank on August 28 to drop off an IBAT Board congratulatory resolution.

"It is not surprising but always good to see the great community support for their local financial institutions," Williston said. "When you think about everything the bank has endured throughout its history, it is truly remarkable and a tribute to the bank's past and present leadership."

IBAT takes great pride in recognizing the accomplishments of its member banks. If you have an upcoming anniversary or significant community event, please let Darlene Revers know.

Picture: IBAT President and CEO Chris Williston with First National Bank of Giddings President Bill Landiss and other senior officers.

Best Banks to Work For

American Banker released its third annual Best Banks to Work For list last week, and several IBAT member banks made the cut. In fact, we're proud to say that all Texas banks on the list are IBAT Members. The 50 banks recognized on this list make their employees feel valued and engaged as well as offer competitive salaries, flexible schedules and opportunities to advance. The bank cultures are positive and focus on camaraderie, and it is evident their employees want to be there.

Congratulations to the following banks (# indicates list ranking):

#7 - Benchmark Bank, Plano
#9 - Veritex Community Bank, Dallas
#19 - Security Bank, Midland
#28 - City Bank, Lubbock
#33 - Allegiance Bank Texas, Houston
#35 - FirstCapital Bank of Texas, Midland
#47 - Happy State Bank, Happy

Read the slide about each bank to find out what makes it a Best Bank to Work For - it might even give you a few ideas for your own bank or workplace. 

Upcoming HOTCO Meeting

The Heart of Texas Compliance Officers (HOTCO) is a newly created association for compliance officers at banks and credit unions in Travis County and surrounding areas. For HOTCO’s third of four meetings in 2015, the topic will be ‘Signs, Signs, Everywhere are Signs! The Compliance Officer’s Responsibilities for Signs ’ presented by Annette Evans of Padgett Stratemann & Co., L.L.P.. 

We highly encourage all compliance officers to attend this informative meeting on September 9, 2015 at 6 p.m. at Morelia Mexican Restaurant in Pflugerville. Additional information can be found here. We hope to see you there!

Latest Magazine

The September/October 2015 digital edition of IBAT’s magazine, The Texas Independent Banker, is now available online. Click here to view the full table of contents or link directly to specific content below:

As always, if you have suggestions for future content to be featured in The Texas Independent Banker magazine, please contact Bonnie Kankel.

New Senior Attorney

Kennedy Sutherland LLP announced last week that Karen Neeley joined the firm as Senior Attorney, effective August 24. She will establish an Austin office for the firm. Neeley, who has provided legal services to community banks throughout Texas for more than 30 years, also serves as IBAT General Counsel.

She specializes in advising banks on regulatory compliance, examination preparation, policies and procedures, Bank Secrecy Act and fair lending, among other consumer compliance matters. Kennedy Sutherland LLP provides a full complement of services for the community banking industry, including corporate, securities, bank regulatory and various complex transactions.

If you need to contact Neeley, click here for her new Kennedy Sutherland email.

Join Us

Please join us this Thursday, September 3, 10-11 a.m., for a complimentary webinar about the new Texas account disclosure that takes effect September 1. This webinar will help you understand what is required, what is not required and give you practical advice on how to implement the disclosure at your bank.

During the program, you will have the opportunity to submit questions online. We will also have an open discussion at the end. Please note that each registration allows for one computer/phone access, and you do not need to register each participant if a computer/phone will be shared by a group. For those unable to participate live, we will have a recording of the webinar available.

Click here to register or for additional information.

Member Resource

Every day, Texas bankers face the challenge of keeping updated about and complying with the various Texas laws and regulations that affect their operations and business transactions. Unfortunately, many of these are scattered throughout the Codes, Constitution and Texas Administrative Code (regulations), making them difficult to locate. In an effort to assist Texas community bankers in keeping up with these Texas laws and regulations, we have put together IBAT’s Texas Banking Law Manual.

While we thought long and hard about the laws and regulations to include in this manual, we can’t guarantee it contains every Texas law or regulation you’ll need to know. We’ll update the manual as we come across pertinent new information.

Convention PACtivities

It’s that time of year when our thoughts turn to the IBAT PAC Auction and Dream Vacation Sweepstakes as we prepare for IBAT's 41st Annual Convention in Galveston. If you would like to donate an item to the PAC Auction, click here for the online pledge form or here to download a PDF of the pledge form. This year, we’ve added a new feature that allows you to take a photo of your item and submit it with your online auction pledge form. If you would like your item featured in the PAC Auction Guidebook, we need to receive your pledge by September 1. Additionally, if you’d rather not shop, you may send us a check or credit card number and we’ll do the shopping for you!

Dream Vacation entries are available by submitting this form or calling the IBAT Office at 800-749-4228 (ask for Patty Mullins). The winner of the Dream Vacation Sweepstakes will receive a $5,000 vacation or prize of equivalent value to be drawn at the Annual Convention. To download the order form and see official rules, click here.

Baker Market Update: Aug. 31, 2015

If there are any investors out there who have recently made a pledge to stop smoking, good for you. But, much like Lloyd Bridges in “Airplane”, that cinematic masterpiece of the ‘80’s, you picked the wrong week. Comfort and solace from any source would have been welcomed, as across the globe, equity markets roiled and bond markets churned right along with investors’ stomachs. Aftershocks from the earlier devaluation of the renminbi intensified into new tremors with this week’s rate cuts by the Peoples Bank of China coupled with a reduction in reserve requirements for that nation’s lenders. Surely, things can’t be that bad over there. Yes, they are, and don’t call me Shirley.

Read more in the Baker Market Update

IBAT Webinars

Did you know? IBAT, in conjunction with Financial Education, Inc., hosts close to 150 webinars a year. Webinars are a very economical way to train your staff for one low price. Everyone can sit in on the program with the use of a speakerphone and a computer, or access archived webinars on-demand.

Topics are broken up by category or by date and include:

  • Auditing & Accounting
  • Collection
  • Compliance
  • Directors
  • Frontline and New Accounts
  • Human Resources
  • IT
  • IRA
  • Lending
  • Operations
  • Security & Fraud
  • Senior Management

You can access a complete listing of upcoming webinars and archived webinars here.

TWIA Board Applications

The Texas Department of Insurance (TDI) has extended the deadline for applications for the Texas Windstorm Insurance Association (TWIA) Board of Directors from August 15, 2015 to September 1, 2015. TWIA serves as the insurer of last resort to provide coverage to residential and commercial properties in certain designated portions of the Texas seacoast territory. 

The requirements for the makeup of the board changed as a result of Senate Bill 900, passed during the 84th Regular Session of the Texas Legislature. Under the new requirements, the board will include:

  • Three board members who live in coastal counties, including one who is a licensed property and casualty insurance agent.
  • Three board members who live at least 100 miles from the coast.
  • Three insurance industry representatives who write and renew windstorm and hail insurance along the Gulf Coast. These members must be nominated by insurers that are members of TWIA.

The application is available to download from the TDI website. 

Q3 Dell Sale

For the third quarter of 2015, Dell is offering IBAT member banks, bank employees and customers 35% off the list price of Optiplex and Latitude PCs. Please use current coupon code SAVE35BIZ.

Additional offers include:

  • Save an extra 10% on select XPS and Inspiron PCs
  • Save an extra 10% on select PowerEdge servers $1299 and above
  • Save an extra 10% on Dell Precision Workstations
  • Save up to an additional 10% on select Dell electronics and accessories

While these deals are offered until October 31, IBAT member savings are available from Dell all year long. On average, IBAT members enjoy savings of approximately 30% on each order. If you'd like to take advantage of the Q3 deal, visit Dell's website or contact Bryan Horten, IBAT’s Strategic Account Manager, at 512-942-9120. Be sure to include the unique Dell/IBAT link number GS126658178 when placing your order. For orders of more than five units, please contact Bryan.

Feel free to download the flyer listing the current discounts, and share it with your staff and customers

The Winners Are...

Each year, the IBAT Education Foundation asks IBAT members to nominate educators in their area who teach financial education in innovative ways. The three winning teachers each receive a $1,000 reward and are invited to serve on the IBAT Teach the Teacher Program™ Advisory Board.

The 2015 winners are:

  • Christi Fuchs, Cuero Intermediate School, nominated by TrustTexas Bank, SSB (Cuero)
    Fuchs uses "building bucks," a 5th grade classroom dollar system that promotes classroom readiness, financial literacy, accountability and responsibility.
  • Cindy Reynolds, Dripping Springs High School, nominated by Pioneer Bank, SSB (Dripping Springs)
    Reynolds teaches her high school students financial literacy for small businesses by focusing on financial management concepts as freshmen, then has them run the student store as a small business project their junior year.
  • Kay Whitton, Jim Ned High School in Tuscola, nominated by Texas National Bank (Tuscola).
    Whitton uses a full-year Money Management program with her high school students.

IBAT appreciates the efforts of all applicants. Congratulations to the three deserving winners, and special thanks to the judges.

Complimentary Webinar

Please join us for a complimentary webinar where IBAT General Counsel Karen Neeley will discuss the ins and outs of the new Texas account disclosure in SB 1791. In the days before the September 1 effective date, we have received a lot of questions regarding this disclosure. This program will help you understand what is required, what is not required and give you practical advice on how to implement this disclosure at your bank. 

Please plan to attend this informative program on Thursday, September 3, 10 -11 a.m. During the webinar, you will have the opportunity to send in questions online. We will also have an open discussion at the end. Registration is now open.

We appreciate interest in this webinar and look forward to hearing from you. Contact Shannon Phillips.

Visa-Target Settlement

Target’s reimbursement to Visa issuers for the retailer’s massive data breach in 2013 was announced last week. According to the settlement, Target will pay Visa issuers as much as $67 million. It is currently working on a similar agreement with MasterCard issuers. While this amount is higher than the proposed $19 million settlement with Visa and MasterCard that fell through a few months ago due to insufficient support from MasterCard issuers, it is a fraction - less than 20 percent - of the $400 million cost to replace all compromised cards.

This data breach and the many others that have followed it continue to reaffirm that stronger federal data security and cybersecurity laws are needed immediately. IBAT strongly supports the Data Security Act (H.R. 2205/S. 961), which creates a national uniform standard for timely notification when a retail data breach occurs and applies consistent Gramm-Leach-Bliley data security standards to all businesses that handle secure customer data.

This legislation would also create consistent standards for the protection of consumer data, shift the liability for fraud losses to the entity that experiences the breach, and most importantly, reduce future instances of data breaches.