BANKING AND FINANCE Eastern Kentucky University • Spring 2020 Update Edition
In this Issue Spotlight on Students.......... 2 Spotlight on Alumni............. 2 Spotlight on Scholarships..... 3 National Recognition........... 4 Case Study Competition...... 4 Distinguished Alum.............. 5 3rd Annual Meetup.............. 5 Thank You............................. 6
Update for Our Program Supporters Editing by: Audra Tomme and Kelly Gipson, EKU Banking Program Public Relations Interns
EKU Banking & Financial Services Program 521 Lancaster Avenue Business & Technology Center, BTC 126 Richmond, KY 40475 Phone: (859) 622-8998 finance.eku.edu maggie.abney@eku.edu
We are constantly reminded of the importance of the role of education in the future of banking. Our graduates are entering the workforce with an understanding of financial markets, credit analysis, bank management, business development and financial technology. They gain hands-on experience through internships and experiential learning so they can apply academic work to the real world. These young bankers truly care about making our communities better places by maintaining strong banks. With the help of our program supporters, the EKU Banking Program continued to grow in the 2018 and 2019 academic years. Our program received national recognition the past two years as Central Bank & Trust Co. (2018) and Kentucky Bank (2019) partnered with EKU students to win (2018) and place 2nd (2019) in the national CSBS Bank Case Study Competition. Student participation in the EKU Banking and Financial Services Program continues to grow, with our first cohort of banking students to graduate in May 2020. Our industry partners are developing internship, scholarship and employment opportunities to create specialized career paths for our graduates. With your support, EKU is becoming a prime source for quality banking talent. Contact us today to build your future talent pipeline.
BANKING AND FINANCE
Students
Randa Morris
Ms. Morris is a senior majoring in Agriculture with concentrations in Agribusiness and Animal Science, with a Minor in Banking and Financial Services. She will graduate Summa Cum Laude in Spring 2020. Ms. Morris served as the Chapter and National President of Delta Tau Alpha Agricultural Honor Society, the Public Relations Officer of the EKU Student Finance Society, and member of the Ag Club and Collegiate Farm Bureau. She was a member of the 2019 EKU Bank Case Study Competition team that placed second in the nation. Ms. Morris serves her community on the Garrard County Fair Board and as an assistant coach for middle school softball. She interned with First Southern National Bank beginning in 2016 and recently accepted a full-time position in the operations department as Operations Specialist. She hopes to work in the banking industry while continuing education through a graduate program in economics or agricultural economics. She is interested in conducting future research on how banking regulations effect the health of rural economies.
Kassidy Easterling
Ms. Easterling, graduating 2021, is an EKU Accounting and Management major with a Minor in Banking and Financial Services. Easterling has represented the Banking Program well during her time at EKU. Easterling has held positions at Kentucky Bank and Richmond Industrial Development Corp (RDIC) She was selected to participate in the Pathways Internship Program with the FDIC. In addition to her studies and her professional experience, Easterling remains active in school extracurriculars such as: EKU Finance Society, Chamber Colonels, Risk Management Association, Delta Zeta, and Phi Beta Lambda as VicePresident of Community Service. Easterling was a student team member on the 2019 EKU Conference of State Bank Supervisors National Bank Case Study Competition Team that placed second in the nation. Page 2 – finance.eku.edu
Spotlight Alumni
Lorelei Nguyen
Ms. Nguyen graduated Summa Cum Laude with degrees in Accounting, Finance and Information Systems. In her Banking course FIN 490, she served on the CSBS Bank Case Study Competition EKU Student Team that won the national competition for research on the role of fintech in community banking. Lorelei commented “Conducting this research provided me a glimpse of the delicate balancing act between risks and opportunities that bankers take into consideration when implementing new technology”. Her participation in the CSBS research competition led her to become interested in working in the Banking and Financial Services Industry. She worked as a Research Analyst for the Kentucky Department of Financial Institutions her senior semester and was hired to work for KDFI full-time as a Bank Field Examiner upon graduation.
Dalton Stanley
Mr. Stanley from Pikeville KY graduated from EKU summa cum laude in December 2018 with degrees in Supply Chain Management and Managerial Finance. Stanley was a student in Banking course FIN 490 as he served on the CSBS Bank Case 2018 team that won the national competition. His participation in the banking competition led him to become interested in a legal career in the banking industry. He is currently a secondyear law student at University of Kentucky Law School during May 2019. During Summer, 2019 he worked as a law clerk in the Chairman’s Office at the FDIC headquarters in Washington, DC. Stanley says, “With the law sometimes being unnecessarily complicated, I want my career to be marked by excellent legal service to businesses facing complex legal issues. Financial Institutions are one example of the many businesses where I know my education and experience that I credit to EKU’s Banking Program, paired with my legal education at UK, will help me provide effective counsel amidst legal uncertainty. I thank EKU for having such a wonderful academic program and faulty who are passionate about using experiential opportunities to prepare students for the real world of business!”
BANKING AND FINANCE
Spotlight
April Russell Perry and Donald J. Perry Banking and Financial Services Program Support Fund April and Don Perry have generously established the April Russell Perry and Donald J. Perry Banking and Financial Services Program Support Fund to support the mission of the EKU Banking and Financial Services Program. April, a native of Ashland, KY earned her Bachelor of Business Administration with an emphasis in Finance/Investments from EKU in 1986. She returned to Ashland to work as Auditor and then Controller for Kentucky Farmers Bank. In 1989, she was elected to the Board of Directors of KFB and has continued to serve on the Board. April then earned her MBA from EKU in 1996. In 2007, she returned to Ashland and was named CEO and Chairman of the Board of KFB, a community bank with three locations in Boyd County and a Loan Production Office in Lexington. April presently serves on the EKU Foundation Board of Trustees. Don, a native of Florence, KY, earned his Bachelor of Science in Industrial Technology in 1986. Upon graduation, he accepted a position with Ashland Petroleum as a computer analyst. While working as Project Manager in the Information Technology Department, Don earned his MBA from EKU in 1995. He began working in a financial capacity as a senior financial analyst, later in an entrepreneurial capacity developing new business opportunities for Valvoline. In 2004, he became Senior Vice President of Investments for Kentucky Farmers Bank in Ashland. Don presently services on the EKU School of Business Advisory Council and the EKU Banking and Financial Services Advisory Committee. The EKU Finance Department is grateful for this generous donation “So few universities that will help us continue to expand the mission and impact of the Banking and Financial Services Program. Thank you, April and Don! offer classes specifically
First Southern National Bank Scholarship and Internship Program First Southern National Bank awards up to five scholarships to high-achieving banking students each year. The idea behind these scholarships is that students would have a professional level of core knowledge of banking coming right out of school, which would
for banking. I’m excited for banking to become a major at EKU, and to see Eastern become a hub where banks find future team members and leaders.”
position them for a vast array of banking careers. Fist Southern National Bank currently has EKU undergraduate students interning at its Holding Company, in the Operations Department, and in several
Regional President Arnie Akers
retail branch locations. finance.eku.edu – Page 3
BANKING AND FINANCE
Congratulations
National Recognition EKU student team members Lorelei Nguyen, Aaron Schmidgall and Dalton Stanley, advised by faculty member Maggie Abney, partnered with Central Bank and Trust Co., placed first in the 2018 National Bank Case Study Competition. The student team presented in front of hundreds of regulators, policy makers and community bankers at the St. Louis Fed at the Community Banking in the 21st Century Research & Policy Conference. The winning paper entitled “Central Bank: Utilizing Technology in the Transformation of Superior Customer Service.” was published in the Journal of Community Bank Case Studies. EKU competed against 58 other universities across the nation, including: DePaul University, Florida State University, Louisiana State University, Marquette University, Mississippi State University, Ohio State University, Penn State and Purdue University. (Photo taken at the St. Louis Federal Reserve following EKU student presentation) Pictured in photo from left to right: Julie Stackhouse, executive vice president, Supervision, Federal Reserve Bank of St. Louis; John Ryan, president and CEO, CSBS; Jelena McWilliams, chairman, FDIC; Dalton Stanley, EKU student team member; Maggie Abney; EKU faculty advisor and executive in residence;Aaron Schmidgall, EKU student team member; Lorelei Nguyen, EKU student team member; Stephen Kelly, executive vice president, Central Bank and Trust. Co., Lexington, Ky.; Loretta Mester, president, Federal Reserve Bank of Cleveland; April Perry; chairman and CEO, Kentucky Farmers Bank, Ashland, Ky.; Charles Vice, commissioner, Kentucky Department of Financial Institutions; Charlotte Corley, chairman, CSBS and commissioner, Mississippi Department of Banking and Consumer Finance; and Thomas Erekson, EKU Dean of the College of Business and Technology.
2019 National Bank Case Study Competition EKU student team members Coby Cumbow, Kassidy Easterling, Randa Morris, Madison Pergrem and Scott Winter, advised by faculty member Maggie Abney, partnered with Kentucky Bank to place second in the nation. The winning paper entitled: “Kentucky Bank: The Economic Growth, Regulatory Relief and Consumer Protection Act” was published in the Journal of Community Bank Case Studies. The student team presented before the Kentucky Department of Financial Institutions Board of Directors in Frankfort. Thank you to U.S. Sen. Mitch McConnell, U.S. Rep. Andy Barr, Commissioner Charles Vice, Kentucky Bank, Ballard Cassady and John Cooper for assistance with this project.
Page 4 – finance.eku.edu
Pictured in photo (left to right): Jim Braden, KY Bank COO, Alan Lunsford, KY Bank Richmond Market President; Randa Morris (EKU student), Madison Pergrem (EKU student), Kassidy Easterling (EKU student), Maggie Abney (EKU faculty), Coby Cumbow (EKU student), Louis Prichard, KY Bank President and CEO; Scott Winter (EKU student).
BANKING AND FINANCE
College of Business & Technology
Andy Baker – Distinguished Alum
EKU’s Department of Accounting and Finance Information Systems presented Mr. Andy Baker the 2019 Departmental Distinguished Alum Award on Thursday, November 14, 2019. The honor is reserved for special alumni who have distinguished themselves in their professions through excellence, dedication, and service. Andy Baker is currently Chief Executive Officer of Traditional Bank, where he has worked for nearly 35 years. Traditional Bank was founded in Mt. Sterling Kentucky in 1902 and remains an independent, locally owned bank with 245 employees in its six-county service area. The bank has 16 locations in Central and Eastern Kentucky and approximately $1.6 billion in assets. Baker began his career with Traditional Bank in 1985, after graduating with a bachelor’s degree in Finance from Eastern Kentucky University. Through a variety of roles, he developed a deep understanding of the operational and administrative facets of the organization. While at EKU, Baker met his wife of 32 years, Mary Weigel (Bachelor of Science in Nursing 1984), and together (Pictured in photo: Dr. Oliver Feltus, Chair, EKU Department they have 3 adult children and a daughter-in-law. In his of Accounting, Finance and Information Systems; free time, he enjoys skiing, hiking, and traveling to National Andy Baker, Chief Executive Officer of Traditional Bank. Parks with his family. Congratulations to Andy Baker as the 2019 Distinguished Alum!
Annual EKU Banking & Finance Meetup Eastern Kentucky University hosted its third annual Banking and Finance Meetup on Thursday, September 26th, 2019. The meetup provides an afternoon of networking and education among students and banking professionals. The 2019 Meetup hosted industry speakers Har Rai Khalsa, MK Decision (San Diego); Loughlin Cleary, ICBA (Boston); and Commissioner Charles Vice, KDFI, with over 100 students, faculty and banking professionals in attendance.
finance.eku.edu – Page 5
Thank You for Your Support It is not possible to create an industry-focused academic program without our program supporters: students, alumni, university administration and industry partners. Thank you for your continued support! We are always open to opportunities to connect with you. We hope you will find your passion for involvement with our program to enhance the student experience. Whether it is guest speaking in the classroom, mentoring students, curriculum and program consulting or volunteer leadership, we welcome your involvement with our program. We owe special thanks to the EKU Banking Advisory Committee for guiding us through the early development of the Banking & Financial Services Program. This program could not be successful without the support and expertise of our Banking Program Advisory Committee. Again, THANK YOU for all that you do!
Left to right: Scott Winter, Coby Cumbow, Trish Isaacs, John Hamilton, Don Perry, Bill Herrell, Lisa DeVaughn Foley, Jaclyn St. Clair, Matt Evans, Randa Morris, Tony Whitaker, Charles Vice, Thomas Erekson, Oliver Feltus, Maggie Abney.
EKU Banking Program Advisory Committee (with 2019 student bank competition team)
BANKING AND FINANCE EKU Banking and Financial Services Program
Department of Accounting, Finance, & Information Systems 521 Lancaster Avenue | Business & Technology Center, BTC 126 Richmond, KY 40475 | Phone: (859) 622-8998 | finance.eku.edu Program Director: Maggie Abney | maggie.abney@eku.edu
Eastern Kentucky University is an Equal Opportunity/Affirmative Action employer and educational institution and does not discriminate on the basis of age (40 and over), race, color, religion, sex, sexual orientation, gender identity, gender expression, pregnancy, ethnicity, disability, national origin, veteran status, and/or genetic information in the admission to, or participation in, any educational program or activity (e.g., athletics, academics and housing) which it conducts, or in any employment policy or practice. Any complaint arising by reason of alleged discrimination should be directed to the Office of Equity and Inclusion, Eastern Kentucky University, Jones Bldg. Room 416, Richmond, Kentucky 40475 (859) 622-8020.