Salary Survey

Just one week remains in the data collection period for IBAT’s Salary & Compensation Survey. Submit your bank’s data online at the IBAT Salary Survey home page or via fax before the July 31 deadline. Banks submitting information will receive a complimentary copy of the comprehensive PDF report, due out in early September, thanks to exclusive sponsor Bank Compensation Consulting.

Click here to download the form to submit data via fax.

2014 CCBD Program

Board education and training are essential “best practices” in the new era of community banking. Regulatory expectations, along with the need for wise management, demand a skill set that many directors lack. In answer to this, IBAT and SWGSB are pleased to host The Certified Community Bank Director’s (CCBD) Program®, held October 31-November 1, 2014 at the Cox School of Business on the Southern Methodist University Campus.

Who should attend? The Community Bank Director Certification is designed for new directors, including directors new to banking, and experienced directors looking to be certified on core director responsibilities and liabilities.

What’s covered in the seminar? This certification covers not only the regulatory and fiduciary responsibilities of bank directors, but also board structures and processes. In addition, the program focuses on what makes boards and directors effective as well as what is expected of them by regulators, examiners and shareholders.

Comment Letter

Last week, IBAT filed a comment on the Texas Department of Banking’s proposal to limit the time for providing required information in corporate filings. As proposed, the rule would eliminate the automatic extension of time to submit additional information and the further extension for good cause, replacing these with an extension at the sole discretion of the commissioner.

The letter cited many circumstances in which greater flexibility might be required for both the applicant and the Department of Banking and suggested several changes to the rule that would reduce costs and shift the timeframe of expected response by corporations. Finally, IBAT proposed that an extension be granted “on a showing of ‘good and sufficient cause,’” rather than being reserved to the discretion of the commissioner.

Staff contact: Shannon Phillips, sphillips@ibat.org, 512-275-2221

Teaching Excellence Award

Last week IBAT presented the Teaching Excellence in Financial Literacy Award to the second of three recipients for 2014. The presentation, honoring Dr. Rebecca Larson of Temple High School, took place at a meeting of the Temple ISD Board of Directors.

The Teaching Excellence in Financial Literacy Award program recognizes educators from local schools who teach financial education in innovative, fun and engaging ways. Larson’s curriculum includes basic life skills such as creating a monthly budget, balancing a checkbook, saving money, obtaining different types of insurance and buying a car in addition to credit and debit card safety, financial aid sources, bank accounts, loans, income tax returns and identity theft.

Her goal is for each student to have a sense of confidence about personal financial literacy as well as a working knowledge of real world financial responsibility. Students do projects like creating and promoting a business and buying stocks and mutual funds and tracking their progress.

Dr. Larson was nominated by her daughter, Beckie Johnston of Extraco Banks, N.A. in Temple.

Photo: Mary Lange, Dr. Rebecca Larson, Michael Thompson with Dr. Larson's granddaughter, Mykenna Johnston

Staff contact: Mary Lange, mlange@ibat.org, 512-275-2224

Reg Relief Update

At the urging of IBAT and many Texas community banker constituents, Senior Texas Senator John Cornyn has added his name to the list of co-sponsors to S. 1349, The CLEAR Relief Act of 2014.

“This is a significant development to advance our efforts in obtaining comprehensive regulatory relief for community banks,” said IBAT President and CEO Chris Williston. “This bill will provide much needed relief in restoring consumer access to credit, particularly in the mortgage markets. Senator Cornyn, as a member of the Minority Leadership, can be instrumental in helping us get the bill to the Senate floor,” Williston added.

Nineteen members of the Texas Congressional Delegation are currently co-sponsors (171 co-sponsors overall) of the companion house bill, H.R. 1750. IBAT thanks the following members of the Texas delegation for their sponsorship of this important legislation: Carter, Cuellar, Farenthold, Flores, Gallego, Gohmert, Granger, Hall, Johnson (Sam), Marchant, Neugebauer, Olson, Poe, Sessions, Smith, Stockton, Thornberry, Veasey and Williams.

The future of the bipartisan bills is uncertain as there are limited days remaining in the current Congressional year. IBAT will be in D.C. this week to push for floor time before or immediately after the August recess.

All community bankers are encouraged to meet with their elected officials during the August district work period and encourage members of the delegation to advance the measures.

Staff contact: Chris Williston, cwilliston@ibat.org, 512-474-6889

Compliance Notice

In 2013, the U.S. Supreme Court struck down the section of the Defense of Marriage Act that defined marriage as a legal union between one man and one woman. Recently, the CFPB issued a memorandum describing its policy with respect to the Supreme Court's decision.

Under the CFPB's new policy, the agency will use and interpret the terms "spouse," "marriage," "married," "husband," "wife" and any other similar terms related to family or marital status in statute, regulations, and policies administered, enforced, or interpreted by the Bureau to include same-sex spouses. Except as otherwise noted below, the Bureau applies this policy to ECOA and Reg B, Fair Debt Collection Practices Act (FDCPA), TILA and Reg. Z, RESPA and Reg. X, Interstate Land Sales Full Disclosure Act and Reg. J, Bureau Ethics Regulations and Procedures for Bureau Debt Collection.

The memorandum stated that a person married under the laws of any jurisdiction will be considered married nationwide. A person in a domestic partnership or civil union is not considered married.

Staff contact: Shannon Phillips, sphillips@ibat.org, 512-275-2221

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.

Baker Market Update: July 21, 2014

Risk has a habit of coming at us from unforeseen sources at unexpected times in unpredictable ways. Thus the name. Financial markets were hit [Friday] with a double dose of capriciousness as events in both Europe and the Middle East sent jitters around the globe. Market observers watched as scared money did what it usually does; buy U.S. Treasuries. It was this edginess that drove the yield on the Benchmark Ten Year Treasury Note down to 2.44%, its lowest level since May 29. As recently as July 3, that issue was yielding 2.65%. Perceptions of risk can also be fleeting, as reports of easing Ukrainian tensions have already reversed some of yesterday’s price action. Hang on, though, it’s early.

Read more in the Baker Market Update.

2014 Five*Star Award Winners

John M. Floyd and Associates (JMFA), Granville Financial Group and BKD, LLP  have been honored with the coveted Five Star Award presented by the Independent Bankers Association of Texas (IBAT). The announcement was made at the 29th Annual IBAT Leadership Conference on June 27 in San Antonio.

Since 2002, IBAT has recognized its associate members that routinely provide not only excellent service but also innovative solutions that help community banks grow faster, enhance profits and gain efficiency with the Five Star Award. Criteria used to determine this year’s winners included service excellence, human relationships, integrity, commitment to the community banking industry and exceptional value to the banks they serve.

Click on each company name above to read each individual press release.

2014 Financial Literacy Summit

If anyone in your bank is interested in learning, seeing and experiencing what other banks across Texas are doing in their markets to promote financial literacy, then attending the IBAT & TBA-cosponsored Financial Literacy Summit is a must! The summit runs July 24-25 at the Dallas Federal Reserve Bank. Lodging is within walking distance at the Hotel ZaZa. 

 The speakers have all been finalized, an A-list headed by:

  • Charles G. Cooper,
  • Mack Neff,  
  • Jimmy Campbell,
  • Jeff Wilkinson,
  • Tieman Dippel,
  • Alfreda Norman, and
  • Bert Marshall. 

They will be addressing WHY financial literacy has been important to their bank strategy and HOW they incorporate it in their region.

Bank Operations Institute

If you want to be a part of the strategic planning team in your bank, you'll need to be up-to-date on the latest changes affecting the community banking industry. New CFPB mortgage rules, increased scrutiny of fair lending and IT security are just three of the most pressing issues operations officers must be prepared to help their financial institutions address in the days ahead.

Come to the 34th year of the IBAT Bank Operations Institute Sunday, October 12th - Friday, October 17th on the campus of SMU in Dallas.  We encourage you to select someone from your bank to attend this critical operations school.  

What is BOI? Bank Operations - Pure and Simple  
Participants achieve a comprehensive understanding of community bank operations and how it contributes to the overall success and profitability of the bank.  The program is designed by our advisory board, made up of regulators and bankers, and is based on the most current regulations and exam practices.  Because the advisory board provides relevant issues, the curriculum is dynamic. Presentation styles include lecture, case studies, simulations and interactive class exercises.

What's the benefit? Operational Efficiencies and Compliance  
Your bank benefits from greater operational efficiencies, enhanced regulatory compliance and a greater awareness of income opportunities driven from the operational side of the bank.

FSA Training Announced

The USDA Farm Service Agency has announced a series of training events around the state, and we are pleased to pass along this information to the IBAT membership.  Information regarding dates, locations and the programs can be accessed in this press release.

“We appreciate our relationship with FSA, and the opportunities they provide for both agricultural lenders and producers,” said Steve Scurlock, IBAT Executive Vice President.  “We encourage you to consider exploring the options this agency provides.”

IT Security Summit

The 2014 IT Security Summit is coming up on August 21 in Dallas. IBAT’s IT Security Summit is designed for CEOs, COOs, security officers and anyone responsible for risk management of a community bank’s information technology department.  Speakers will cover the hot topics facing community banks’ IT departments from a banker viewpoint and the regulatory issues of the IT exam.

Summit topics include:

  • Cybercriminals Targeting Community Banks - Who, How And Why;
  • Are Your Business Continuity and Disaster Recovery Programs Behind the Times?; and

Addressing Security Challenges with M&A Activity and Your Supply Chain.

Happy 40th!

IBAT President and CEO Chris Williston and IBAT Services President Curt Nelson were on hand last week in Dallas at a reception to celebrate the Southwest Automated Clearing House Association for 40 years of service to the financial industry.

“SWACHA has been an integral part of our payments system and invaluable resource to the financial industry throughout the Southwest and the nation, said Williston.  “They have been a tremendous supporter and partner to IBAT throughout our mutual 40-year existence,” he added.

IBAT and the Clearing House Association have worked together to bring many cutting edge offerings to their membership including the creation of Techmecca, the Southwest’s largest technology conference, and the Loss Account Alert System (LAAS).

Williston and Nelson presented a congratulatory resolution from the IBAT Board of Directors to outgoing CEO Dennis Simmons and Laura Steele, SWACHA’s new CEO.