Thomas Chamberlain Chair
Iroquois Federal Savings & Loan Association
Anthony Nestler Chair-Elect
Hickory Point Bank and Trust
T.J. Burge Vice Chair
Community Partners Savings Bank
Megan Collins Treasurer Bank of America
Frank Pettaway
Member-at-Large
The Northern Trust Company
Courtney Olson Member-at-Large First Bank Chicago
Betsy Johnson
Immediate Past Chair Solutions Bank
REGION 1
Rudy Gonzalez CIBC Bank USA
Frank Pettaway The Northern Trust Company
REGION 2
Peter Brummel Grundy Bank
Courtney Olson First Bank Chicago
REGION 3
Lawrence Horvath Heartland Bank & Trust Company
Kathy Williamson Bank of Farmington
REGION 4
Scott Bland First Neighbor Bank N.A.
Brett Tiemann INB, National Association
REGION 5
Rick Parks First National Bank of Waterloo
Bethany Shaw Peoples National Bank, N.A.
ALLIANCE
Lora Kalka FNBC Bank & Trust
Gustavus Bahr PNC Bank, N.A.
J. David Conterio Hometown National Bank
David Doedtman Washington Savings Bank
Brian Hannon Cornerstone National Bank & Trust Company
Robert Kelly Old National Bank
Karlie Krehbiel Lisle Savings Bank
Ted Macon Farmers State Bank of Hoffman
Michele Petrie
Village Bank & Trust, N.A.
Amy Randolph Busey Bank
Timothy Smigiel Liberty Bank for Savings
Matthew Smith First Mid Bank & Trust, N.A.
Dan Wujek State Bank of Cherry
Two Offices to Serve You! Springfield Office: 800-783-2265 • Chicago Office: 800-878-2265 To connect with our staff, use this email format: firstinitiallastname@illinois.bank
Executive Administration
Randy Hultgren, President & CEO
Erich Bloxdorf, Executive Vice President and COO/Interim Marketing Projects Manager
Mindy Manci, Executive Assistant & HR Manager
Pam Macha, Springfield Office Coordinator
Finance and Administration
Mark Bennett, CPA
Executive Vice President and CFO
Tammy Squires, Vice President, Data and Technology
Matthew Keeling, Director
Marie South, Financial Assistant
Law Department
Carolyn Settanni, Executive Vice President & General Counsel
Carly Berard, Associate General Counsel
Michael Schasane, Compliance Counsel
Government Relations
Ben Jackson, Executive Vice President
Aimee Smith, Assistant Vice President
Matt Imburgia, Director
Member Relations
Julie Winterbauer, Senior Vice President
Tim Robinson, Director, Bank Relations
Illinois Bankers Business & Education Services, Inc.
Callan Stapleton, CAE, EVP & President of Business and Education Services
Adam Walsh, Vice President, Insurance Services
Robin Lane, Director, Associate Membership
Lyndee Fein, Director, Education & Conferences
Rachel Selvaggio, Director, Forums & Future Leaders Alliance
Denise Perez, Director, Education & Training
Debbie Jemison, CAE, Director, Financial Literacy
Amy Sale, Education Assistant
Illinois Bankers
Group Insurance Trust
Erich Bloxdorf, Plan Administrator
Mike Mahorney, Senior Trust Advisor
Hillary Meyers, Trust Manager
Randy Hultgren
Secretary Illinois Bankers Association
strictly prohibited without written permission of the publisher.
It is hard to believe that my year as Chair of the IBA Board of Directors is drawing to a close. I carry with me many fond memories of the past year. Towards the top of the list was the opportunity to meet with many of the IBA past Chairs and present each with their past Chair pin. I was impressed with their graciousness, their words of wisdom, and their continued deep commitment to the IBA.
Meeting with so many bankers throughout the state, at their banks, was also a joy. I always came away from these interactions with something useful for myself, my bank, and the IBA.
Of course, attending and meeting with bankers at numerous meetings, conferences, and conventions was also a treat. Being given the opportunity to meet with bankers across Illinois and the nation enriched my grasp of the banking industry and expanded my network of peers that I can count on for sage advice in the future. The conferences and conventions hosted by the IBA are amazing with information flowing so many different directions. If you have not experienced this, I encourage you to do so. That investment will pay dividends to you in the future.
I developed a deep appreciation for the advocacy efforts in Washington DC, Springfield and even in Chicago. I experienced firsthand the importance of all our voices to promote the good legislation and
defeat the bad legislation that effects our industry. It is impactful when we can tell our stories and show the legislators and regulators that we, as an industry, are looking out for the best interests of our customers and communities.
My final reflection is the experience that I had working with the fantastic group of Board members and the wonderful staff at the IBA. What an honor it has been to be associated with such wonderful and industrious professionals that truly love their careers and being involved in the banking industry.
I have also come to recognize the ripple effect that we as bankers, and the IBA, have on our industry and our communities. I have seen so many times that an action by the IBA or a banker has a positive effect on other bankers, legislators, and regulators. These actions, in turn, had a positive impact on other bankers and more broadly, on the communities they serve. I have come to recognize the powerful impact that one interaction can have on the trajectory of our industry.
I have been honored to serve as your Chair for the past year and believe that the best is yet to come! Join me in welcoming our next Chair, Tony Nestler of Hickory Point Bank and Trust. He will be terrific and will keep the positive ripple effect going for you, the IBA, and our entire banking industry!
The Illinois Bankers Association has been providing advocacy and solutions for all banks and bankers across Illinois for 133 years. The IBA was started and has thrived because unique and talented bankers went above and beyond to grow and preserve the benefits of banking in all communities for all generations. We exist as an association only because of the great leaders who have stepped up over the years to support banking.
Tom Chamberlain is one of those leaders who has gone above and beyond to advance our industry. Tom is completing a great year as Board Chair of the IBA. He has been a strong voice for banking throughout Illinois and in Washington, DC.
Tom’s mentorship has made the staff better and more effective. He had the great idea of honoring all the women and men who have given so much to our industry by serving as Board Chairs of the IBA. Each one has spoken of the hard work
and challenge of their year, but also of the great privilege of serving bankers in this powerful way. Tom has made this association stronger and better and we are forever grateful!
The challenge I have heard Tom give to other bankers is you need to be fully engaged to receive maximum benefit. Please consider following Tom‘s great example of reaping all of the benefits of this association by attending events, using IBA services, and finding ways to give back to banking. As we do, each of us can leave a lasting legacy as Tom has done. Thank you, Tom!
The IBA has enjoyed the legacy of Chairs who have gone above and beyond. Tom is no exception. And waiting in the wings to create his legacy is Tony Nestler, President and CEO of Hickory Point Bank and Trust. Take a moment to get to know Tony from his article in this month’s magazine. I and the entire IBA staff look forward to working with Tony in the upcoming year!
The IBA Law Department
Our forms provider, Wolters Kluwer, updated its Certification of Beneficial Owners of Legal Entities form to require the signer to certify that the legal entity has filed its initial Beneficial Ownership Information Report with FinCEN. The form does not allow banks to remove this language. However, we believe that entities have until the end of the year to file these reports. Is this correct? If so, what should we do about the form?
We have brought this issue to the attention of Wolters Kluwer, which now has updated its Certification of Beneficial Owners of Legal Entities form (CERTBEN-V) as of April 1, 2024, in response to concerns raised by several customers and the IBA. The updated version of the form removes the certification that the legal entity has filed its initial Beneficial Ownership Information Report with FinCEN. You can find the updated form here: https://samples.wolterskluwerfs. com/Form/Summary/P0mlOk
You are correct that legal entities created or registered to do business before January 1, 2024, have until January 1, 2025, to file their initial beneficial ownership information reports under FinCEN’s beneficial ownership information reporting rule, and many
types of entities qualify for exceptions to this filing requirement. Also, a federal district court recently issued an injunction in the case of National Small Business Association v. Yellen, No. 5:22-cv-01448-LCB (N.D. Ala. March 1, 2024). The injunction prohibits the Treasury Department and FinCEN from enforcing the Corporate Transparency Act’s beneficial ownership reporting requirements against the plaintiffs in the action, including members of the National Small Business Association.
For future questions and concerns, Wolters Kluwers encourages its customers to use the following contact information for its support group: 1-800-274-2711, ext. 1124008 or contentsupport@wolterskluwer.com.
Can we require a customer to update their signature card if we know that a joint owner on their account has died? When should we make this change to the signature card?
Yes, you may require that your customer update their signature card after removing a deceased joint owner from the joint account. We recommend removing the deceased owner from the account and requesting an updated signature card as soon as possible to avoid potential operational issues, such as improper reporting of interest to the IRS, depositing a check or other item payable to the decedent more than ten days after the date of death, and vulnerability to identity theft.
As of the date of death, funds held in a joint account with rights of survivorship automatically pass to the surviving joint owner. Assuming that your bank has a written account agreement establishing the joint account with rights of survivorship and has confirmation of the death (such as a copy of the death certificate), you may remove the deceased owner from the account. You also may request that your customer update their signature card to reflect that the deceased joint owner has been removed.
We have a customer who filed six claims for unauthorized debit card transactions on November 22 of last year. We transmitted the first periodic statement showing an unauthorized charge to the customer on June 15 of last year, and we provisionally credited the customer for unauthorized charges that occurred in June and July. We did not provisionally credit the customer for the unauthorized charges that occurred in August through November. However, we filed a chargeback with the debit card issuer, and we were reimbursed for all unauthorized charges that occurred from August through November. How much do we owe the customer?
We believe that under Regulation E, your bank is required to reimburse your customer only for the unauthorized charges that occurred through August 14 of last year. However, we recommend reviewing your agreement with the debit card issuer and your agreement with the customer, as those agreements may prohibit your bank from profiting from the chargeback process.
Regulation E requires a bank to credit a customer for unauthorized transactions that occurred during the first sixty days after it transmitted a periodic statement showing the initial unauthorized transaction. If a customer fails to report an unauthorized transaction within sixty days after transmittal of the statement showing the unauthorized transaction, they are liable for the amount of any unauthorized transfers that
occur after that initial sixty-day period (up to the date on which they provided notice of the unauthorized transactions). In any event, the bank still must reimburse customers for unauthorized transactions that occurred during the initial sixty-day period after transmittal of the statement.
Consequently, we believe that under Regulation E, your bank must reimburse the customer for the unauthorized charges that occurred before the close of sixty days after you transmitted the June 15 periodic statement (that is, before August 14). Outside of any requirements in your agreement with the debit card issuer or with your customer, that should be the limit of your Regulation E liability to your customer.
Our IBA Law Department provides many resources to help our bank members meet their compliance challenges, including a toll-free Compliance Hotline (1-800-GO-TO-IBA) and a dedicated compliance website (www.GoToIBA.com). We also publish a free weekly e-newsletter highlighting the latest regulatory developments, select recent Q&As, and other useful information –let us know if you want to subscribe!
Note: This information does not constitute legal advice. You should consult bank counsel for legal advice, even if the facts are similar to those discussed above.
Full Name: Anthony G. Nestler
Title: President & Chief Executive Officer
Bank Name: Hickory Point Bank & Trust
Family: My wife, Laura Nestler and I are the proud parents of three adult children, Sofia (Nestler) Hamilton, Anthony J. Nestler, and Maria Nestler; a son-in-law, Riley Hamilton; and a daughter-in-law, Bethany Nestler. We were blessed in July 2023 with our first grandchild – Mia Nestler and have another granddaughter on the way.
High School and College Name(s): Griffin High School, Springfield, IL Northwestern University, Evanston, IL
Tell us about your journey in banking. Shortly after graduation from college, I entered the Commercial Banking Officer Development Program at American National Bank & Trust Company of Chicago. At American National, I enjoyed formal classroom training and practical on-the-job experience as a credit analyst in Melrose Park. Although my time at American National was brief, it provided me with a great introduction to the industry.
My early professional goal was to be a commercial banker in my hometown of Springfield, IL. In 1993, I returned to Springfield to work for Bank One, shortly after it acquired the Springfield Marine Bank. I started at Bank One as a credit analyst and held positions of increased
authority. My work at Bank One was primarily in middle market relationship management, serving companies in downstate Illinois.
It was at Bank One that I forged meaningful relationships that have positively impacted my life and career, including my friendship with Leon J. Mizeur. Leon was the senior lender of the old Springfield Marine Bank and executive vice president at Bank One, Springfield and head of commercial banking. The insights and wisdom that he shared with me during the formative years of my career have helped me to become a better banker and person.
After Leon retired, I was ready to make a change. In the early 2000s, I was convinced that there was an unmet need in the market for a business bank that could make local decisions and tailor financial solutions to the local marketplace. With a few friends, I began exploring the idea of purchasing a small
bank to build into the business bank that we envisioned. As we explored purchase opportunities, another retired Marine Bank/Bank One executive, Don McNeely, caught wind of my plans.
Don was working as a consultant for Hickory Point Bank & Trust, a subsidiary of agricultural giant Archer-Daniels-Midland Company. Hickory Point Bank offered me a chance to build a commercial banking business from scratch with local decision-making. Hickory Point Bank was a respected Decatur-based bank, which had recently changed its charter to allow it commercial lending powers; however, they lacked an experienced commercial banker.
In 2001, I joined Hickory Point Bank as senior vice president to develop a commercial banking business. About six months later, Leon Mizeur joined us, significantly increasing Hickory Point Bank’s depth of management. Shortly thereafter, another veteran banker, Steve Tock, joined the team and started building our business in Champaign. Throughout the years, we recruited and developed a talented team of commercial banking professionals. Together, this team has built a strong and growing commercial bank, with ten locations throughout central Illinois.
At the time of the Great Recession, ADM decided that it no longer wished to own a bank. I was in the right place at the right time and got the opportunity to purchase Hickory Point Bank. We formed First Illinois Corporation, and in 2011 our group of about 100 investors acquired controlling interest in Hickory Point Bank. I became president & chief executive officer of the bank at that time.
After our acquisition of Hickory Point Bank, we have continued the bank’s stable long-term growth. As the bank has grown and matured over the years, I now have more time to get involved with great organizations, including the Illinois Bankers Association.
If given the opportunity, what would you tell your younger self? I think the best advice to give to any banker, young or old, was scripted many years ago by the board of directors of the Springfield Marine Bank (oldest bank in Illinois) in its 1933 board resolution. In depths of the Great Depression, and having endured substantial hardships, the board of directors passed a resolution to be read aloud by the board at each annual meeting. The words echo wisdom from our forefathers, and are as true today as when written: “FURTHER RESOLVED, that these resolutions be intended to stand as a solemn warning to those men in whose hands the future of this bank shall be committed, to conduct its affairs at all times in a conservative manner, to keep unceasingly on guard against the temptation to relax from sound and cautious principles, to remember always that periods of prosperity are inevitably followed by periods of depression and that only if its house is continually in order can it have nothing to fear.”
Describe a fun fact about you. I come from a large ItalianAmerican family and am the youngest of nine children. My mother was one of twelve and my father was one of six. My grandfather was one of eight and grandmother was one of seven. Many of my closest friends are my siblings and cousins. We are hosting a family reunion at our home in August and expect over a hundred cousins.
What is on your bucket list? Someday, my wife and I would like to own a small farm that we could enjoy with our children, grandchildren, and family.
What is your favorite book, podcast, or author? How has it/they impacted your life? This is a tough question because I love so many different books and authors. The book that is most current in my mind is “The Wisdom of the Bullfrog: Leadership Made Simple (But Not Easy)” by Admiral William H. McRaven. In this work, Admiral McRaven, draws on his military career to share his simple and compelling leadership philosophy, which correlates well to the banking industry. I am glad that I read it, because it provides a great set of leadership principles to draw upon when faced with business challenges.
What is one goal that you would like to achieve in your year as Chair of the IBA? I’ve been around the IBA my entire banking career, and active for the past twenty. My experience on the board has been rewarding and has provided me an opportunity to work with many talented bankers and businesspeople. The chair has a key role to play in the IBA’s success, but that role, in my view, is more of a facilitator for others, than a driver of results.
My primary goal as chair is to lead the board in its successful corporate governance of the IBA. This means ensuring that board agendas and materials are timely and appropriate, director perspectives get shared, meetings are efficient, board decisions are well vetted, and that the board provides a healthy and respectful challenge for management.
with a sustained high interest rate environment for an extended period of time.
The Fed briskly increased the Fed Funds target rate by 525 basis points over sixteen-months after an extended period of near zero interest rates. This dramatic economic change and rapid rate increase led to numerous consequences for the industry, including industry deposit contraction, margin compression, and unrealized securities losses. The unrealized securities losses, coupled with deposit contraction, has had a material adverse effect on industry liquidity. What’s more, the unrealized losses in AFS portfolios have negatively affected industry equity capital.
"My primary goal as chair is to lead the board in its successful corporate governance of the IBA. "
What challenges do you see in the banking industry in the next five years? Banking is a dynamic and challenging industry, characterized by strong and well-established banks in Illinois. The list of challenges is long: interest rate risk, liquidity risk, credit risk, operational risk, emerging technologies, non-bank competitors, cybersecurity risk, check fraud, talent retention, regulatory risk, demographic trends, and more. However, I think the greatest challenge facing the industry today is the risk associated
Despite the liquidity and capital challenges, it seems that the industry environment has been reasonably stable and bank failures have been isolated. As the economy has been surprisingly resilient, we have not yet seen a material degradation of industry asset quality. In my view, it is reasonable to expect that a continuation of this rate environment will put significant pressure on collateral values and borrower debt capacity, which may lead to industry asset quality deterioration.
The industry is well served by focusing on the “CAMELS” metrics of Capital, Asset Quality, Management, Earnings, Liquidity, and Sensitivity. In my view, regardless of the circumstances, well managed banks that continue to focus appropriately on these fundamentals will continue to prosper in the future.
Get to Know Tony Nestler!
The banking agencies are tasked with writing implementing regulations for the laws enacted by Congress, but they do not have free reign. In creating these rules, regulators must act within the boundaries of their statutory authority or run the risk of legal challenge—and ABA has not been afraid tohold them accountable in court when they get it wrong. But Congress can also hold agencies accountable when there are policy disagreements by simply overriding final rules.
In ABA’s view, regulators have exceeded their authority in several recent regulatory actions, including the 1071 final rule, the credit card late fee final rule, the new Community Reinvestment Act final rule, and the expansion of UDAAP authority via an update to an examination manual.
When I addressed bankers at the 2024 ABA Washington Summit earlier this year, I assured them that ABA would use every tool in our toolbox to push back against the “regulatory tsunami” that regulators have unleashed upon the banking industry. Litigation is obviously a tool that we’ve been forced to use now several times—as evidenced by our four current legal challenges against bank regulators—but it isn’t the only option.
Among the other tools available is a lesser-known mechanism called the Congressional Review Act—which we sometimes refer to as “the other CRA.”
The Congressional Review Act was enacted in 1996 to provide Congress with an avenue for overturning certain federal regulatory actions, but inexperience with the new law and divided government meant it was only used once in its first 21 years. During the Trump administration, however, when Congress and the White House were controlled by the same party, the CRA was used successfully 16 times. Highlights included ABA-backed resolutions to overturn the CFPB’s rule effectively banning the use of mandatory arbitration for financial products—a rule that ABA strongly opposed—and a resolution to nullify the bureau’s 2013 indirect auto lending guidance, after the Government Accountability Office issued a formal decision in 2017 that the guidance constituted a rule.
Congress passed CRA resolutions three more times during the Biden administration, and lawmakers continue to introduce them. Recently, ABA supported a CRA challenge to the CFPB’s 1071 final rule. That CRA challenge was passed by a bipartisan majority in both the House and Senate—and though President Biden ultimately vetoed the measure, it sent a strong and clear signal that Congress disagreed with the bureau’s rule.
In addition, a resolution of disproval under the CRA was also passed in May to invalidate the Securities and Exchange Commission’s Staff Accounting Bulletin 121, which changed the way that banks and other publicly traded entities are expected
to account for digital assets held in custody. ABA is also supporting a CRA challenge to the CFPB’s recently finalized credit card late fee rule. The House Financial Services Committee favorably reported that resolution of disapproval in April.
The Congressional Review Act is so powerful because resolutions can move to the Senate floor quickly through an expedited “fast track” procedure and that, once on the floor, a resolution requires only a simple majority vote to pass—not 60 votes, like most legislation. This fast-track process stipulates a specific timeframe during which rules issued in this Congress can be invalidated by the next Congress: the rule must be issued during a window of 60 session or legislative days prior to Congress’ adjournment at the end of the year in order for the next Congress to have an opportunity to invalidate the rule. We are now nearing the window where any final rules that are issued by the agencies could be challenged under the CRA in the next Congress—yet another reason why electoral outcomes matter.
However the elections shake out in November, ABA’s focus will remain unchanged: supporting a policy environment that supports America’s banks in their mission to supply credit to their customers, clients and communities. And we’ll continue to use every tool in the toolbox to ensure that our broad and diverse banking sector can continue to thrive.
E-mail Rob Nichols at nichols@aba.com.
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Illinois community banks performed worse than its Midwest peers and national community banks in five of six key financial metrics in 2023.
Illinois-based banks with under $10 billion in assets underperformed in terms of median return on average assets (ROAA), net interest margin (NIM), efficiency ratio, and deposit and loan growth rates in the year ended Dec. 31, 2023, according to an S&P Global Market Intelligence analysis.
The Illinois community banks logged a median ROAA of 0.89% and a median NIM of 3.16%, which was lower than Midwest community banks' median ROAA of 0.92% and median NIM of 3.22%. National community banks posted a median ROAA of 0.96% and median NIM of 3.37%.
Illinois community banks' median efficiency ratio of 69.07% was higher than Midwest community banks' 67.57% and national community banks' 67.13%.
On a year-over-year basis, Illinois community banks recorded a 0.6% climb in total deposits and 6.6% growth in total loans and leases. By comparison, the Midwest median deposit and loan growth were 0.7% and 7.6%, respectively, and the national median deposit and loan growth were 0.9% and 7.7%, respectively.
Meanwhile, Illinois community banks' median cost of funds was 1.24%, better than the Midwest median of 1.39% and the national median of 1.41%.
Byline Bank, the largest Illinois community bank by assets, outperformed the medians of Illinois, Midwest and national community banks in reporting an ROAA of 1.45%, an NIM of 4.45% and an efficiency ratio of 50.21%. The bank's cost of funds, however, was higher, at 1.98%.
Byline Bank's parent company, Byline Bancorp Inc., acquired Inland Bancorp Inc. in June 2023. The bank's total assets were $8.87 billion at the end of 2023, up from $7.35 billion a year earlier.
Midland States Bank, the second-biggest community bank in Illinois, had an ROAA of 1.01% and an efficiency ratio
of 53%, both better than the medians of Illinois, Midwest and national community banks. The bank's NIM was 3.32%, higher than the medians of Midwest and Illinois community banks but lower than the national median.
Year over year, the Midland States Bancorp Inc. subsidiary's total assets grew slightly to $7.86 billion from $7.85 billion.
Among the 20 largest Illinois community banks, Signature Bank logged the highest ROAA at 1.76% and the lowest efficiency ratio at 41.51%. Old Second National Bank booked the highest NIM at 4.55% and the lowest cost of funds at 0.66%.
Most bank sales managers spend less than 10% of their time on coaching and only one third actually coach their people on a weekly basis. Yet, the Coaching Competency is the most critical part of a sales manager's responsibilities; it is also the most difficult skill set to learn and master.
There are many reasons for this, but among them are: the managers themselves were not coached or they had a bad experience with coaching; they were elevated to a team lead or line of business manager position based on their sales success and not their coaching performance; and they have not had any coaching training, either formal or informal. The have few or no best practices or systems and processes to help them succeed.
Some sales managers believe that coaching means helping relationship managers with pricing and technical questions on an ad hoc basis but these discussions, while valuable, do not focus on development. Effective coaching involves scheduling multiple coaching conversations with bankers each week to improve their skills and help them win more sales. This is called Intentional Coaching and is the path to building a sales coaching culture.
The good news is that there are concrete steps managers can take to initiate high-touch coaching that will help develop the necessary sales skills in their relationship managers and contribute to a coaching culture that will lead to sales team excellence. These must be executed well and consistently of course, to make an impact.
Consistent and Frequent Coaching
Coaching executed well will lead to improved skills and bottom-line results impact.
Effective Debriefing
When done on a regular basis, this involves focusing on why your RM got a particular outcome and working backward to uncover the causes.
Asking Enough Questions
You understand the importance of not dominating the conversation by frequently asking questions. Just as in selling, successful coaching requires frequent question-asking.
No Need for Approval
This means that you aren't overly concerned with whether your reports like you, which allows you to coach them to be more effective.
Able to Stay in the Moment
While coaching, you may find yourself becoming emotionally involved in situations, causing you to listen to your own inner voice instead of your banker. By improving this tendency to stay in the moment, you will be able to more effectively coach your salespeople.
Having and Coaching to an Effective Sales Process
This helps you address areas for growth in your lenders because, with a defined sales process, you will know at what step in the sales process they struggle.
Passion for Coaching
Passion is possibly the most important component and as a coach, you must have a true inner passion to develop others to perform at their very best.
Beliefs Support Coaching
This means you strongly believe in the role and importance of coaching and believe it will make a difference.
Uncovers Compelling Reasons to Buy
While selling, you have been effective at uncovering prospects' compelling reasons to buy. As this is a critical factor in Consultative Selling, this makes you a more effective coach to your RMs.
Knows How People Buy
This involves developing a strength in getting prospects to tell you how they will reach a buying decision which allows you to coach your bankers to be more effective and ask questions to more fully understand this about their clients and prospects.
Doesn't Rescue the Salespeople
This means you are willing to let your lenders fail, giving them the opportunity to learn from their mistakes.
Effective at Getting Commitments
This means you are adept at getting your prospects to agree when they will make a decision. By improving your personal skills in this area, you will be able to coach your bankers to be better at it as well.
Handles Joint Sales Calls Effectively
This means you go on joint calls, avoid heavy participation in the call and instead observe the call, and then provide coaching feedback. Here is the unfortunate truth. New sales managers, as well as the banks who promote them, believe that the very things that made them successful lenders or relationship managers will make them successful sales managers. Then, continuing that belief into a sales manager’s tenure, sales managers don’t ask for and aren’t offered sales management training and coaching which emphasizes how to coach salespeople.
As a result, new and growing sales managers must rely on the sales manager they reported to when they were in a sales role for what sales management is supposed to look like and that of course leads back to the beginning of this article that states the problem: less than 10% of a sales managers’ time is spent coaching their bankers.
To achieve sales team excellence and build a coaching culture, banks must put specific coaching activities in place consistently, and provide development opportunities for their sales coaches to achieve excellence in their role.
For 30 years, Anthony Cole Training Group, anthonycoletraining.com, has been helping community banks and other financial service organizations close their sales opportunity gap by helping them sell better, coach better and hire better. Utilizing science-based, data-driven research and working hand-in-hand with clients, ACTG evaluates the organization, the market, and current individual and company strengths. Our skilled and sales-experienced Sales Development Experts then help to align company strategies and implement customized Sales Managed Environment® framework that fosters sales growth and production. Our financial focus, customized programming, sales-experienced personnel, and owner’s perspective have made us the Community Banking source for revenue growth. Our Mission: Grow People, Grow Organizations. image by macrovector_official, Freepik
Iage, financial institutions find themselves sitting on a goldmine of data—a treasure trove with the potential to revolutionize the way they operate. From understanding consumer spending habits to predicting financial needs, institutions want to leverage that data to drive success in an ever-evolving industry.
Before delving into the multiple ways financial institutions can use data to their advantage, it's crucial to first establish clear objectives and outcomes rather than utilizing data without a clear purpose. And, when it comes to growth, financial institutions typically focus on a few key goals.
In today’s environment, most FIs want to grow core relationships—and along with those, low- or no-cost core deposits. For solid proof, just look at recent offers
from large institutions and the sheer amount of marketing around these offers, all to lure new core relationships. Chase offers up to $900 for opening a checking and savings account. Other large national banks are offering anywhere from $500 to $3,000 to earn a variety of relationships.
The ultimate measure of success for any FI’s growth strategy is its ability to establish new PFI relationships. Our answer: Challenge yourself. If you do not currently have an always-on strategic approach to growing core relationships, adopting an always-on strategy should help you increase your new core relationships by 50% to 150%.
Increasing relational intensity is about cross-serving, not cross-selling. To foster growth, FIs must attract NEW consumers and deepen those relationships while also deepening relationships with EXISTING consumers and businesses.
The key to success is increasing relational intensity over time, with an incremental increase in product and service utilization. Based on client data, earning six or more
product and/or service relationships per household is realistic, even while executing a core relationship growth strategy.
Behind every successful FI is a dedicated team. Data can help identify human performance metrics that matter and provide a framework for measuring coaching effectiveness. Your focus should be on coaching highvalue activities like service behaviors, sales presentations, product knowledge, etc. It's not just about coaching; it's about data-driven coaching, measurement, and accountability.
Word-of-mouth referrals have always been a powerful growth tool for FIs. A customer’s desire to refer others to their FI is driven by exceptional service, with approximately 18% of openings stemming from referrals. In today’s digitized banking world, service has two key components: (1) Technology that allows people to use your digital channels with the least friction possible; and (2) The service your team members provide.
Once you determine your goals and identify key performance targets, you must drive growth. Overall success hinges on aligning successful marketing strategies with effective execution strategies.
a. Have Better Retail and Business
For marketing to be as effective as possible, it must be paired with compelling retail and business products. In the absence of good products, the choice will come down to access and locations.
b. Implement Intelligent Policies
For your marketing to achieve your growth goals, your policies and processes must not become roadblocks. Have you tried to open an account online with your organization? Have you recently visited one of your own branches to open an account or add a service? To be able to compete with high-incentive offers from large FIs, you must outperform them. Your service must be better, and your policies must be friendlier.
Once you’ve set your goals, evaluated your policies and processes, and implemented an ongoing training and coaching plan, it’s time to market.
a. Target Effectively
Identifying the right audience is critical in marketing. Before we determine which marketing channels will be most effective or what an omni-channel mix should look like, we help FIs use data modeling to discover the right audience. Effective targeting begins with learning from your existing data. It’s also important to look at further data to help refine your target audience. For example: When it comes to core relationship growth, we have found that drive pattern and trip frequency concluded from GPS-based device metrics within your branch footprint can be powerful predictors for high-probability prospects.
The right marketing channel is the one that’s in front of your prospective customer. That starts with (1) Traditional marketing, utilizing your branch locations as effective messaging tools, and highly targeting the prospective customer through one-on-one print solutions. This is then supported by (2) Opt-in emails such as USPS Informed Delivery and (3) Digital marketing tactics that allow for the highest level of targeting.
c.
What is the right frequency? Today, when large FIs market at least every six weeks, your frequency must be higher if you want to hold your results at the same level. This not only applies to traditional marketing but digital marketing as well.
The modern banking landscape is defined by data-driven strategies. To achieve sustainable growth, FIs must harness the power of data.
By aligning marketing efforts with intelligent processes, employee training, and data-driven decision-making, FIs can drive growth and success in the competitive world of banking, thus positioning themselves at the forefront of the data-driven revolution.
Achim Griesel is President and Dr. Sean Payant is Chief Strategy Officer at Haberfeld, a data-driven consulting firm specializing in core relationships and profitability growth for community financial institutions. Achim can be reached at 402.323.3793 or achim@haberfeld.com. Sean can be reached at 402.323.3614 or sean@haberfeld.com.
April 25, 2024
Illinois State Fairgrounds Springfield, IL
The Illinois Bankers Association and local banks participated in CareerSpark, a hands-on, interactive work and career readiness experience designed to spark students’ interest in the exciting careers in the STEAM field. The Science, Engineering, Technology, Arts, and Mathematics (STEAM) event is tailored for 8th-grade students.
The IBA and our bank members love to promote the exciting opportunities in banking!
April 16, 2024
Springfield, IL
Bankers across Illinois converged on Springfield at the State Capitol for Economic Investment Day! Together,
we championed initiatives and demonstrated unity and strength as a collective voice advocating for the banking industry and the interests of our customers and communities. Our commitment to building a stronger, more prosperous future in Illinois remains unwavering!
Pictured l-r: Molly Leonard, JPMorgan Chase Bank, N.A., Joanna Trotter, JPMorgan Chase Bank, N.A., The Honorable Michael Frerichs, Illinois State Treasurer (Middle), Phylicia Manley, JPMorgan Chase Bank, N.A., Jared Evans, JPMorgan Chase Bank, N.A.
The Honorable John Curran, Illinois Senate Minority Leader and Randy Hultgren, Illinois Bankers Association
The Honorable Don Harmon, Illinois Senate President
The Honorable Juliana Stratton, Illinois Lieutenant Governor (left) meets with Randy Hultgren, Illinois Bankers Association and Betsy Johnson, Solutions Bank (right)
The Honorable Tony McCombie, Illinois House Minority Leader and Kathy Williamson, Bank of Farmington
The Honorable Margaret Croke, Illinois House Financial Institutions Committee Chair; The Honorable Dan Ugaste, Illinois House Financial Institutions Republican Spokesperson
May 16, 2024
St. Clair Country Club Belleville, Illinois
The rain held off just enough to provide a wonderful day for the Spring Fall Golf Outing. More than 60 players and staff members took advantage of a beautiful St. Clair Country Club course. A great chance to network with peers, vendors, and IBA staff, this event kicked off the golf season. Thanks to our sponsors and everyone who participated!
We look forward to seeing you on the first tee at the 2024 Fall Golf Outing, Monday, September 30 at Bloomington Country Club!
As the process of protecting systems, networks and endpoints from attack, cybersecurity is critical to any organization. Since banks must protect customer data, keeping up with evolving cyber threats and concerns is vital. In its annual Banking Priorities survey, CSI asked bankers across the country about their views on top cybersecurity challenges. This article explores how bankers view the changing cybersecurity landscape.
As part of our country’s critical infrastructure, financial institutions are prime targets of cyberattacks and must navigate an evolving threat landscape. Let’s examine the breakdown of bankers’ top four cybersecurity concerns in this year’s survey.
1
The results reveal 19% of bankers view this as their top concern, which is unsurprising as cyber incidents continue to rise. In addition to cybersecurity monitoring solutions and increased personnel training, cyber liability insurance provides another layer of protection for institutions in the event of an attack. This result highlights a potential uncertainty about upcoming developments in the cyber insurance market, whether regarding price increases or coverage exceptions. Institutions should carefully review their coverage, and some are seeking assistance from IT governance services to evaluate their needs.
2
Being Unprepared to Respond to a Cyber Attack
18% of bankers expressed concern with their preparedness for cyberattack responses. As incidents evolve, institutions must ensure they plan accordingly, including developing and testing robust incident response plans (IRPs) that detail the steps to take in the event of a cybersecurity incident. Having an established IRP makes it easier for institutions to decisively act and minimize negative consequences if faced with a cyberattack.
3
17% of bankers selected lack of compliance with cybersecurity frameworks as a top concern. Implementing robust cybersecurity frameworks, such as the National Institute of Standards and Technology’s Cyber Security Framework (NIST CSF), helps institutions identify and apply solid controls in high-risk areas. Proven frameworks also enable banks to maximize compliance initiatives and cybersecurity spending.
4
This year, 17% of respondents indicated concern that cyber risks are not a priority for their institution’s executive leadership. Institutional leadership should recognize cybersecurity as a business issue, and a chief information security officer (CISO) plays an important role in guiding cybersecurity spending.
Preparing for the inevitable cyberattack is a never-ending responsibility. Let’s gain insight into banking executives’ perspectives on their own cybersecurity readiness.
92% of respondents agree—with 50% strongly agreeing—that their bank could improve cybersecurity education. If your employees receive a suspicious email, do they know the proper steps to report it? Educating employees on evolving threats and the latest social engineering schemes is one of the most effective ways to mitigate cyber risk.
Most respondents (89%) agree they understand their institution’s cyber risk. But as risk continues to evolve, are banks keeping up with the latest threats? Understanding recent cyber incidents provides key insight into how bad actors execute attacks and helps institutions stay one step ahead. As discussed above, consider implementing a cybersecurity framework to guide risk mitigation if you haven’t already.
As cybersecurity threats increase, so does regulators’ emphasis on cybersecurity compliance, which involves fulfilling necessary regulatory requirements and implementing security controls for protection. This enhanced focus requires banks to uphold a secure IT infrastructure and proactively address risks. Given regulators’ increased focus on this area, it’s no surprise that 87% percent of bankers reported being at least somewhat concerned about cybersecurity compliance.
An overwhelming majority (92%) of respondents feel their CISO can produce a strategic business case for cyber spending. Since cybersecurity affects the entire organization, it should be viewed as a business issue. IT governance helps your institution ensure your technology investments support your unique goals while mitigating IT- and cybersecurity-related risk. IT governance experts can also supplement your CISO’s efforts in making a business case for cyber spending.
While these responses are encouraging, many financial institutions stand to benefit from hosting internal discussions between their CISO and other C-suite executives to ensure everyone is on the same page and confident surrounding cybersecurity preparedness.
Additionally, they should focus on resource optimization, streamlined processes, and a commitment to ongoing education to fortify their institution against the ever-changing threat landscape.
Survey results reveal bankers are using a variety of methods and tools to stay compliant. The top tools used for cybersecurity compliance are conducting risk assessments and impact analysis studies (46%). Well-executed risk assessments are a key component of a cybersecurity plan because they help organizations identify and manage financial, operational, and other risks associated with internal and external incidents.
Dealing with cybersecurity threats is nothing new for financial institutions. Still, institutions should exercise constant vigilance and stay abreast of the latest threats to ensure they mount the most effective defenses. By keeping a pulse on current threats and where the cybersecurity landscape is headed, your institution will be better positioned to keep your network, data, and users secure.
Learn more about bankers’ perceptions of the 2024 financial services landscape in the full Banking Priorities Executive Report: www.csiweb.com/docs/bankingpriorities-2024
Steve Sanders serves as CSI’s chief risk officer and chief information security officer. In his role, Steve leads enterprise risk management and other key components of CSI’s corporate compliance program, including privacy and business continuity. He also oversees threat and vulnerability management as well as information security strategy and awareness programs. With more than 15 years of experience focused on cybersecurity, information security and privacy, he employs his strong background in audit, information security and IT security to help board members and senior management gain a command of cyber risk oversight.
You’re working diligently to best position your balance sheet, and we know what you’re up against in the current environment. As you navigate complex strategies to maintain liquidity and margin, we can help you develop solutions backed by our own experience so you can confidently move your operation forward. We can help get you there because we’ve been there. Budgeting
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Investment mix
Interest rate risk
Loan pricing
Asset duration
Liquidity management Brokered funding
By Alaina Sims, Omnia Employee Development & Retention
Ingenuity and fresh ideas are essential for growth and progress within a company, and bringing the creative spirit that’s necessary for innovation to life is a team effort. Everyone needs to play a part in contributing to an organization’s advancement and goals to feel invested in bringing them to fruition. Though not everyone has the same talents, each person has individual strengths that enable them to make a difference in their own unique, important way.
You need people who can come up with forwardthinking plans as a first step, but it doesn’t stop there. You also need individuals who can translate those ideas and goals into tangible practices that can be implemented within your company.
Understanding your employees’ individual personality traits and behavioral characteristics is a key to unlocking creativity and innovation within your organization.
People who are goal oriented, driven, and comfortable trying new or unproven methods to achieve results are often the ones who come up with ambitious new ideas. They enjoy taking risks and reaping the big rewards that can come with them. And they do not become discouraged by the trial-and-error aspect of formulating and implementing new plans. Rather, they see each setback as one step closer to success.
Let these take-charge, resilient individuals in on the ground floor when developing big-picture plans and high-level strategies. They are willing to press forward in the face of adversity to achieve visionary goals.
Management Tip
Since they don’t feel constrained by perceived limitations, be sure they submit their ideas to a “reality check” to make certain those ideas are attainable and realistic to put into practice.
Asking cautious employees who prefer working within clear-cut parameters to think up a brand new revenue stream or to completely overhaul existing systems could feel intimidating to them. People with these personality traits are not comfortable taking on risky ventures. They also have high standards for the quality of their work, so they want to use proven methodologies rather than chancing a mistake with untested techniques.
These employees will be inspired by collaborative efforts that ultimately help others, such as enhancing the services your business provides to clients or creating departmental initiatives that benefit the team as a whole. Rather than inventing a new set of protocols, ask them for ways to improve existing processes to enhance the accuracy and quality of the group’s collective results.
Management Tip
Encourage these employees to create stretch goals when crafting new processes and plans to help them foster a growth mindset.
Employees who are socially driven enjoy working with people and often communicate in an outgoing, expressive way. They thrive when interacting with their colleagues and having the chance to bounce ideas off each other. They are external processors, meaning they often “think out loud” and talk through problems and issues with others.
These individuals may work best on group projects that center around the interpersonal aspects of business, such as setting the tone for your company’s corporate culture or developing team-building objectives. Their ability to read others’ emotions can help them find the best way to appeal to an audience, so they may be effective at assignments involving establishing your brand and building employee loyalty within your organization.
Conversely, people who are analytical thinkers often possess strong focus for tasks that require solitary concentration. They are internal processors who solve problems by investigating facts and evidence. They prefer working individually or in small groups and having the chance to expand their knowledge base. They want to become subject matter experts on specific topics. They are often reserved communicators, but they like being resources for information for their peers and leadership.
These employees may excel at projects that include extensive research, objective data analysis, and bringing a depth of knowledge to the endeavor. Because they keep conversations targeted toward the business at hand, they can effectively keep project meetings and conversations on topic.
Management Tip
Ensure everyone has the opportunity to contribute their ideas. Outgoing or assertive personalities often speak up to give their suggestions. Lowkey or succinct communicators might be more reserved about offering up their recommendations or ideas. They also prefer having the chance to think things over.
Give those employees time to review business needs in advance so they can formulate their ideas before bringing them to the table. Also, consider meeting with people one-on-one initially.
People work at a variety of tempos, and understanding the pace that each employee prefers can guide management when assigning projects and responsibilities. Fast-paced multitaskers are well suited for projects that have quick turnaround times and that have a lot of moving parts to juggle. These individuals are inspired by variety and are not overwhelmed by tight deadlines. Methodically paced individuals are patient and willing to take the time to ensure positive results. They have strong follow-up skills, so they often do well handling long-range projects that require a lengthy time commitment.
Management Tip
Because speedsters are motivated by diverse responsibilities, they can tend to start many new tasks but finish few. Ask for status updates on their assignments, and ensure they are not overwhelmed with too many activities. Persistent, orderly employees want to see one thing to completion before starting something new. Make certain they are prioritizing the most important work first, and help them pivot their focus when a new, more significant objective arises. Review project timelines regularly.
Innovation is about the entire process, from conceptualization to realization, and it takes many different personality qualities to bring that to life within your business. But how do you know which employees have which personality traits? A behavior assessment, like The Omnia Assessment, can help. Contact us today to discover how: www.omniagroup.com/contact-us
The Illinois Bankers Association proudly sponsors the delivery of the Stock Marget Game (SMG). The SIFMA Foundation’s Stock Market Game™ is used in thousands of classrooms nationwide to help teach core academic subjects while emphasizing the importance of long-term saving and investing. Students work together in teams to conduct research, invest their hypothetical $100,000 cash account and manage their portfolio over time. Through their participation, student teams gain practical knowledge about the markets, learning such concepts as risk and diversification as well as real-life economic and financial skills that will benefit them for years to come.
Teachers use the SMG’s online educational resource library as a tool to enhance student engagement with math, language arts, social studies, business and technology, while integrating investment concepts into their existing curriculum. The cross-curricular lessons and materials support both Illinois and national Common Core State Standards.
The SMG is offered to all Illinois schools without financial cost through the generous support of the Illinois Bankers Association. Since its inception in Illinois in 1988, the SMG program has enrolled nearly 900,000 Illinois students. Nationally, the SMG is provided by the Securities Industry and Financial Markets Association (SIFMA).
This year, three students from Illinois received National and State recognition for their efforts in the Fall 2023 National InvestWrite® Competition.
endeavors. With a steadfast commitment to closing opportunity gaps in society, the SIFMA Foundation equips young people from all backgrounds, with a particular focus on underserved youth, with a robust understanding of financial markets.
A number of studies have emphasized the critical need for financial education to navigate today’s complex economic landscape. Investing in financial education yields long-term benefits, both for individuals and for society as a whole, by fostering economic stability and reducing financial vulnerabilities, according to Financial Literacy and Financial Education, a recent study by Tim Kaiser and Annamaria Lusardi. It emphasizes the need for comprehensive and accessible educational programs from an early age. SIFMA Foundation’s programs are leading the way in reaching and engaging youth and their teachers and families.
“It brings me immense joy to extend my heartfelt congratulations to Advik Dhand, Allison Banegas, and Troy Hospellhorn and their teachers for a remarkable achievement in InvestWrite,” said Melanie Mortimer, President of the SIFMA Foundation. “Their essays detail a very thoughtful and compelling plan for long-term financial independence. Their achievement signals the value of early financial education in setting youth on a path to positive financial life outcomes.”
The SIFMA Foundation’s InvestWrite national essay competition serves as a vital bridge between classroom education in mathematics, social studies, language arts, and the practical application of research and knowledge essential for saving, investing, and long-term financial planning. The competition is a culminating activity for the acclaimed Stock Market Game™, a curriculumbased financial education program challenging students to manage a hypothetical $100,000 online portfolio of stocks, bonds, mutual funds, and cash. InvestWrite empowers students to apply their hands-on learning in real-world scenarios that teach the fundamentals of investing.
SIFMA Foundation’s programs are proven to enhance participants’ test scores in math and economics, foster financial planning skills, promote teamwork and interpersonal social-emotional learning, and better prepare students for future academic and professional
The Stock Market Game and InvestWrite are offered in Illinois through the generous support of the Illinois Bankers Association. “We honor and congratulate our InvestWrite winning students and teachers,” said Randy Hultgren, President and CEO of the Illinois Bankers Association. “Helping Illinois students better understand our economy, our markets, the role of investors, and how to make good investments will pay dividends for the students, their education and the Illinois economy.”
The Fall 2023 InvestWrite competition posed the following challenge to 4th-12th graders: ‘Which of your Stock Market Game investments performed well or poorly, and why? Using at least one of your Stock Market Game investments, how would you build a diversified portfolio of stocks, bonds, and mutual funds aimed at achieving a personal, family, or community goal by 2033.’
Thousands of volunteer financial professionals from hundreds of financial firms select the winners of InvestWrite each year. Advik captivated this panel of expert judges with a compelling and insightful essay.
Fifth Grader Advik Dhand Places 10th Nationally in the SIFMA Foundation’s Fall 2023 National InvestWrite® Competition
Currently enrolled in 5th grade at Fry Elementary School in Naperville, Illinois, Advik Dhand developed a diversified investment portfolio aimed at securing long-term financial success.
Advik’s investment strategy placed him 10th in the nation in the SIFMA Foundation’s Fall 2023 InvestWrite competition. Advik triumphed among thousands of participants nationwide for his astute insights into the dynamics of capital markets in the elementary school division. In recognition of his accomplishment, Advik and his teacher, Erin Mongelli, were honored by the SIFMA Foundation and Illinois Bankers Association during a special ceremony held on May 7.
Eighth Grader Allison Banegas Places 1st in Illinois in the SIFMA Foundation’s Fall 2023 National InvestWrite® Competition
Currently enrolled in 8th grade at Belding Elementary School in Chicago, IL, Allison Banegas developed a diversified investment portfolio aimed at securing longterm financial success.
Allison’s investment strategy placed her first in the state in the SIFMA Foundation’s Fall 2023 InvestWrite competition. Allison triumphed among thousands of participants nationwide for her astute insights into the dynamics of capital markets in the middle school division. In recognition of her accomplishment, Allison and her teacher, Hannah Schlecht, were honored by the SIFMA Foundation and the Illinois Bankers Association during a special ceremony held on May 7.
Ninth Grader Troy Hospelhorn Places 1st in Illinois in the SIFMA Foundation’s Fall 2023 National InvestWrite® Competition
Currently enrolled in 9th grade at Pecatonica High School in Pecatonica, IL, Troy Hospellhorn developed a diversified investment portfolio aimed at securing long-term financial success.
Troy’s investment strategy placed him 1st in the state in the SIFMA Foundation’s Fall 2023 InvestWrite competition. Troy triumphed among thousands of participants nationwide for his astute insights into the dynamics of capital markets in the high school division. In recognition of his accomplishment, Troy and his teacher, Elizabeth Fabian, were honored by the SIFMA Foundation and the Illinois Bankers Association during a special ceremony held on May 7.
By Scott Petree, Partner | Management consulting and Saumil Shah, Senior manager | Management consulting
A strong vulnerability management program is paramount to your financial institution’s information security and its resilience. Penetration testing assesses whether this crucial control is operating effectively — an important consideration for leaders and C-suite stakeholders across your institution.
A well-established vulnerability management program — characterized by proactive identification, thorough assessment, and effective mitigation of vulnerabilities before they’re exploited by malicious hackers — plays a crucial role in enabling financial institutions to promptly detect and prevent cyberattacks. But how do you know if this critical control is working?
In contrast to a vulnerability management program that functions as a control, a penetration test (pen test) serves as a comprehensive evaluation of the effectiveness of your institution’s vulnerability management program and its broader cybersecurity initiatives. Penetration testers use a diverse range of tools and techniques to gain valuable insights into your environment, replicate potential “attacks” to infiltrate your users, systems, and network, and gain access to confidential data. Their primary objective is to identify any “unlocked doors and windows” within your IT systems, specifically those that you may think are fortified against malicious intrusions. Once penetration testers access your systems and breach your defenses, they work on uncovering any gaps or misconfigured system or application settings, which may allow actual hackers to exploit confidential information flowing through your network. This can include passwords and protected customer data, as well as critical financial details like account numbers or other financial data.
Penetration testing is a rigorous and comprehensive process that goes beyond evaluating technology alone. It encompasses the assessment of people and processes, including technical, social, and physical vulnerabilities. While there may be free tools or scans available that claim to fulfill this role, it’s essential to recognize their limitations. Automated systems alone can’t account for the myriad variables and real-life scenarios that create potentially significant vulnerabilities. When our team conducts pen tests, we meticulously examine weaknesses in technology while also scrutinizing social, technical, and physical vulnerabilities that put an organization at risk.
For example, our testers have successfully employed social engineering tactics — such as cloning access badges during staff breaks — and gained physical access to buildings. This allowed us to discreetly plant and connect a test device for a simulated attack, enabling wireless network attacks from unexpected locations like a parking lot. In another case, a client relied on endpoint protection measures, which secure entry points of devices such as desktops, laptops, and mobile devices, to safeguard their network, which initially posed a challenge for our penetration testing team. However, through identifying a configuration weakness, we successfully gained access to their network. From there, we assessed how they might identify or prevent the unwanted transfer of data. Rather than removing actual data, we used test data structured in a similar manner to represent the sensitive information a hacker would try to exfiltrate. This comprehensive evaluation allowed us to identify potential weaknesses and gaps in the defensive measures implemented by the financial institution.
When we share with business leaders and IT directors that we’ve successfully gained access to their network
— sometimes even acquiring high-level credentials — their reaction is often one of surprise and astonishment: “I can’t believe my people would click that link,” “I can’t believe the vendor overlooked that configuration change,” “I can’t believe our vendor failed to patch the system,” or “How could our employees use such weak passwords?” These surprises usually arise due to procedural gaps and lack of cybersecurity training within the institution. Information security and cybersecurity require more than just technological controls — they extend to people and processes across the entire organization, as well as external collaborators. While your IT team diligently works to secure the institution by implementing controls around technology, it’s impossible for them to have complete knowledge in all areas. To build an effective vulnerability management program, you need to identify and address the vulnerabilities that may go unnoticed. This is precisely what penetration testing uncovers — the vulnerabilities that both you and your IT team might not be aware of. While automated network access tools might scan and halt our efforts, we emulate the tenacity of real hackers who persist until they’re successful. By considering the interplay of technology, social engineering, and physical security, we ensure a thorough assessment that automated tools and vulnerability scans just can’t replicate.
When using targeted findings and industry-standard recommendations obtained through a pen test, organizations learn precisely where the gaps are in their vulnerability management program. This valuable information allows IT to enhance the institution’s controls. But it’s equally important that C-level executives are involved; they play a significant part in the success of information security and remediation efforts following a comprehensive pen test. As stewards responsible for the overall resilience of the organization, executives play a vital role in supporting IT in effectively addressing vulnerabilities. Their involvement ensures IT has the resources it needs to implement targeted remediation strategies based on the pen test findings. By actively participating in the remediation process, C-level executives demonstrate their commitment to establishing a robust and mature information architecture, instilling a culture of cybersecurity throughout the institution. IT directors often use the findings from penetration testing to strengthen their case for increased budgets, whether it be for technical improvements, increased staffing or outsourced resources, or user training. We understand that budget increases for your cybersecurity program might not always be practical. But by prioritizing cybersecurity, you can position your organization — with considerable success — to be less vulnerable and less of a target for potential attacks.
It’s a common misconception we hear frequently: We’re just a small financial institution; ... no one’s going to attack us.” Unfortunately, this often comes back to haunt institutions. While it’s true that different financial institutions are targeted for various reasons by a wide range of attackers who use diverse tools, including artificial intelligence, to gain unauthorized access or control, or pilfer credentials, funds, confidential information, or data, the reality is that every institution is vulnerable.
Moreover, the landscape of cybersecurity has evolved, with many cyber insurers now mandating penetration testing as a prerequisite for coverage. Furthermore, numerous standards and regulatory compliance frameworks such as ISO, NIST, HITRUST, and others require independent third-party testing. Account holders are also increasingly demanding that their service providers undergo penetration testing to assess the overall effectiveness of the provider’s vulnerability management programs.
In most cases, we recommend organizations conduct penetration testing on an annual basis, or even more frequently if there’s a need to verify remediation efforts from a previous test or a breach. Vulnerabilities emerge and evolve constantly, alongside the increasing sophistication of attackers and their toolsets. Like your vulnerability management program and overarching cybersecurity strategy, pen testing should be a proactive and continuous endeavor.
By regularly performing penetration testing, you gain the ability to identify gaps in people, processes, and technologies, ensure your systems can detect and thwart hackers, and monitor for emerging vulnerabilities and cyberthreats. Neglecting routine penetration testing — meaning, at the very least, conducting it annually — exposes your financial institution to unnecessary risks. It’s simply impossible to establish effective controls for information security issues that remain undiscovered.
The significance of a robust vulnerability management program can’t be overstated, particularly if you’re responsible for the overall resilience of your financial institution. It’s crucial to know whether your cybersecurity program is operating effectively, and penetration testing is the most reliable tool for assessing the performance of one of your institution’s most critical controls.
The Trust is Out and About
Mike Mahorney, Senior Trust Advisor, has been visiting our Trust members. Mike visited with James Bruns, President of Iroquois Farmers State Bank at their Ashkum location.
We Love our Past Chairs!
Our current Chair, Tom Chamberlain, has been busy visiting our members and often gets the opportunity to meet up with a Past Chair. Here, Tom is “pinning” Dave Kuhl, a long time IBA advocate. Dave is retired now, but his impact on the banking industry in Illinois lives on! Congratulations Dave!
Superior Informatics LLC
PO Box 338
Madisonville, TN 37354-0338
Website: www.homestat.org
Contact: Rehman, Ryan ryan.rehman@superiorinfo.org
Banks generally follow a binary system. Short form drive by reports for low LTV loans/easy properties and certified appraisals for the rest. The short form reports are not acceptable to the regulator for complex properties or high LTV loans. This results in heavy reliance on appraisals. Homestat fills this gap by providing the bank with full analysis, 100-page reports at a fraction of time and cost. The regulator finds this acceptable. Adding Homestat enriches the bank and does not take away anything. Superior Informatics LLC is a technology organization and Homestat is a product of Superior. Homestat provides real estate evaluations by combining technology/big data, real estate modeling, and human real estate valuation expertise. The overlap of all three disciplines, combined with nationwide coverage and all possible product classes has resulted in a product line that has proven to be the market leader. We have relationships with over 300 lenders in numerous states - with many leading banks in Nebraska. The reports are proven to be accurate, detailed, quick and regulator approved, nationwide. All reports compete with regular appraisals. The only reason they are not called appraisals is that the physical inspection is not done by a certified appraiser. Our reports involve extensive human expertise, including physical inspections,
when requested. Superior Informatics does not cut corners or charge higher prices based on product quality. PROVEN RESULTS: Superior Informatics provides evaluations for a full spectrum of property types and geography: small properties to large sprawling complexes worth tens of millions. We cover all property types from simple structures to complex structures such as senior living complexes, cattle farms, large farms with silos, bins, elevators etc., large commercial buildings, new construction, “As Completed”, bare lots. We also provide property condition reports (physical inspection) nationally.
5435 NW 100th St Ste 200 Johnston, IA 50131
Website: www.growersedge.com
Primary Contact: Mosier, Jackie jackie.mosier@growersedge.com
Twitter: twitter.com/growersedgetech
LinkedIn: www.linkedin.com/company/growersedge
Growers Edge provides modern financial products and datadriven tools that help forward-thinking agriculture retailers and manufacturers reduce their growers' risks and costs when adopting newer innovative solutions and practices. The company's crop plan warranties and input financing solutions are trusted by over 50 retailers and manufacturers to assist hundreds of growers affordably purchase their products and guarantee yields on over one million acres of cropland.
Top Volunteers from First Mid Give Back to the
As a community-focused financial organization, First Mid is dedicated to having a positive impact in all the communities they serve. The company encourages employees to volunteer and give back to local organizations and causes. First Mid employees recorded over 19,000 volunteer hours in 2023. In addition, the company annually recognizes their top five volunteers for their contributions. Each volunteer is presented with the opportunity to choose a local organization to receive $500 from First Mid on their behalf.
Amy Beals is the Executive Assistant, located at Mattoon Corporate. She chose to donate to Newton Community High School’s Theatre Department, whose purpose is to provide a creative and inclusive space where students can explore their passion for the performing arts. Through collaboration and hard
work, they aim to produce high quality productions that entertain and enrich their community. They believe in fostering a culture of respect and empathy where every student is valued and supported in their artistic pursuits. Their ultimate goal is to ignite a lifelong love of theater in their students and create a lasting impact on their community through the transformative power of the arts.
Sarah Calhoun is a Teller, located at the Carbondale Main Banking Center. She chose to donate to DeSoto First Baptist Church Youth Group, whose goal is to bring kids aged 12-18 together and give them a safe space to be themselves while enjoying fellowship and a weekly home-cooked meal. The group also participates in a summer vacation bible school for all ages and a community fall fest on Halloween.
Eric LeFlore is a Commercial Lender, located at the St. Peters banking center. He chose to donate to Legacy Sports Foundation, whose mission is to champion the
youth of the community by providing comprehensive support, resources, and opportunities for growth. Through athletic programs, mentorship, and community engagement, they strive to foster confidence, resilience, and a sense of personal responsibility.
Barb Cooper is a Trust Administration Officer with First Mid Wealth Management, located at the Decatur N. Main Banking Center. She chose to donate to Bethel #49 Job’s Daughters International®, whose mission is to create confident young women, respect tradition, and shape the future. Their members learn invaluable skills that increase their confidence and prepare them to lead.
J.P. Piper is the Information Security Administrator, located at the Paris Banking Center. He chose to donate to El Shaddai Emmaus of West Central Indiana, which seeks to inspire, challenge, and equip leaders for Christian action in their homes, churches, communities, and places of work.
First Mid Earns 2023
Top Mortgage Producer
Recognition from IHDA
First Mid Bank & Trust (First Mid) has been recognized as a top mortgage producer from the Illinois Housing Development Authority (IHDA). First Mid’s mortgage department was the #2 lender in the Northwest Illinois Region for 2023, with close to $22 million in production. This award underscores First Mid’s unwavering commitment to excellence in the mortgage industry and its dedication to serving the diverse needs of homeowners across its footprint.
“We are honored to be recognized as one of the top mortgage producers for IHDA,” said Tammy Zurfluh, SVP, Director of Mortgage Sales at First Mid (NMLS #476483). “Our mortgage team has helped countless individuals navigate the homebuying process. This recognition reflects our entire team's dedication to providing comprehensive mortgage solutions that meet the evolving needs of our customers while supporting the overarching goals of IHDA to foster inclusive and sustainable communities.”
In addition, two First Mid mortgage lenders were recognized as IHDA Top Loan Officers in the Northwest Illinois Region for 2023. Warren Swanberg (NMLS #1502042) was the #3 Top Loan Officer with more than $7.8 million in production. Jared Fewell (NMLS #476484) was the #4 Top Loan Officer with more than $5.5 million in production. Both Swanberg and Fewell serve clients in the Rockford, IL area and surrounding communities.
“Warren and Jared are both instrumental to the success of our team. They understand the current marketplace and have built trust with clients by sharing a wealth of expertise and counsel to ensure they find the right mortgage program for their individual situation and needs,” added Zurfluh.
Two prominent bank CEOs from Illinois had the opportunity to visit the New York Stock Exchange recently. President and CEO of First Women’s Bank, Marianne Markowitz and Betsy Johnson, President and CEO of Solutions Bank, were in town for a meeting with a core provider and took a moment for this iconic picture. Thanks for representing Illinois in the Big Apple!
IBA Associate Member FORVIS, the eighth largest public accounting firm in the United States, and Mazars, a leading international audit, tax, and advisory firm, jointly announce they will create a new, top 10 global network, effective June 1, 2024.
The new network will position both firms for continued global growth by expanding their capabilities to serve clients, especially those with international needs.
The network will operate under a single brand worldwide, Forvis Mazars. With approximately $5B in revenue, Forvis Mazars will be a new entrant in the top 10 global network rankings. Uniquely formed of just two members, the network is designed to be agile, deliver consistency, and have the global scale to meet clients’ needs. Both network members will remain owned by their current respective partnerships. Effective June 1, 2024, Mazars USA will join Forvis Mazars in the U.S. “A two-firm network, operating under a single global brand, quickly advances our firms’ shared strategies. It's an opportunity to better serve our clients, especially those with international needs, and support our people on a path of continued growth. Our organizations know each other well, with a strong history of collaboration and very similar cultures of putting our people and clients first,” says Tom Watson, CEO of FORVIS. “FORVIS has always been passionately committed to providing an Unmatched Client Experience® and unlocking the potential of both our clients and our people, and this opportunity allows us to do so on a strengthened global platform.”
“I am really delighted that Mazars and FORVIS have taken this transformational step and am excited about the opportunities it presents for both firms in serving our clients and supporting our people” says Hervé Hélias, CEO and Chairman of Mazars Group. “We’re proud to bring a pioneering new network model to our industry and are excited to continue this journey together.
At Mazars, we are committed to helping our clients confidently build and grow their businesses, and forming this two-firm network with FORVIS complements our existing international integrated partnership and significantly advances Mazars’ international strategy. We are proud to offer our clients the strength of our international integrated partnership in 100 countries and the benefits of FORVIS’ large national partnership in the U.S. who truly works as one firm across the U.S. It gives us the scale and expanded presence that we have been striving for in the U.S. and marks us out as a top 10 global network with extensive scale and coverage”.
FORVIS was built on a 100-year legacy of providing an Unmatched Client Experience®, becoming a top 10 firm in the United States while looking toward an expanded global platform. Mazars, with offices in more than 100 countries and territories, has realized much success, rising in prominence, and working with some of the most recognizable brands in the world. At a time of major change for businesses worldwide and shifting market dynamics, the new global network will be agile with the scale, capacity, and coverage to support current and future clients' needs worldwide with the highest levels of consistency and customer experience.
Our very own Julie Winterbauer, Senior Vice President, Member Relations and Tim Robinson, Director, Member Relations, attended the ribbon cutting for the extensive branch remodeling of Bank & Trust Company in Chatham. This branch serves the communities of Chatham and Springfield and plays an
integral role in growth in the region. Congratulations on this important investment!
Andy Santangelo, EVP and Director of Treasury Management for Busey Bank. "CorServ's commercial card program provides us with tools for credit decisioning, options for local servicing, and custom rebates which empower Busey Bank to better serve our commercial customers compared to what national card issuers can offer."
CorServ to Partner with Busey Bank
CorServ, a company that empowers banks and fintechs with payment programs, and an IBA Associate Member, has partnered with Busey Bank ($12.5 billion in assets) to launch a modern credit card program for their commercial customers. Headquartered in Champaign, Illinois, Busey Bank serves their customers in over 80 locations. Aiming to add a comprehensive credit card solution to their suite of commercial banking services, Busey Bank transitioned out of an Agent Bank program to CorServ's Account Issuer Program. Both Busey Bank and their commercial customers will benefit from the Interchange realized by using commercial credit cards for payments.
"Busey Bank uniquely knows the financial situation and banking needs of our commercial customers," said
CorServ's Account Issuer Program provides Busey Bank's commercial customers with benefits including better choices of credit card products, a powerful self-service interface for company administrators to manage their cards, insightful customizable reports including Level 2 and 3 transaction data, virtual cards to pay vendors, spend controls, and efficient expense reporting. With more control over credit decisions for their customers, Busey Bank will leverage CorServ's innovative solution to offer its commercial and business customers a comprehensive credit card program.
"CorServ's program gives commercial customers a modern approach to banking with more capabilities for a convenient and simple experience," said Anil Goyal, CEO of CorServ. "We are thrilled to partner with Busey Bank to contribute to their legacy of associate excellence, customer service, community involvement, and expanding shareholder value.
Dively Receives Honorary Doctorate for Outstanding Service to Community
First Mid Bancshares, Inc. (First Mid), a leading financial institution known for its commitment to community, is proud to announce its Chairman and Chief Executive Officer, Joe Dively, has been awarded an honorary Doctorate of Public Service degree from Eastern Illinois
University (EIU) in recognition of his service to EIU and other local and state community organizations. "I am humbled to receive this honor from my beloved alma mater,” says Dively. “At First Mid, we are committed to making a positive impact in all our communities. I am grateful to EIU for the preparation and education it provided me which makes giving back an honor and, in many ways, a repayment for what I received.”
Dively previously served EIU as president of the Alumni Association, chair of the Business School Advisory Board, member of the Foundation Board, and chair/ member of the Board of Trustees. He has been an active member of the business community, serving as chair of the Illinois Chamber of Commerce, chair of the Sarah Bush Lincoln Health System, and president of the Charleston Chamber of Commerce. He also served on the IBA Board of Directors (2015-2019) and Annual Conference Committee (2013-2015).
Dively earned his Bachelor of Science degree in Business from EIU. He joined the First Mid team in 2011 as President after serving on the board of directors since 2004. Dively’s business career includes service as a senior vice president for Consolidated Communications, a telecommunications company also based on Mattoon, IL, where he worked for twenty years.
The Illinois Bankers Association recognizes three Illinois bankers on their induction into the IBA’s 50-Year Club.
The 50-Year Club recognizes and celebrates bankers who have achieved 50-plus years in the industry!
A 50-Year Club nomination is a capstone event for a banker filled with rewarding experiences and achievements.
Bank, N.A. Honors Klein
The Illinois Bankers Association recognizes Ronald G. Klein, who began his career as a bank Director for Resource Bank N.A. in 1974. After 50 great years of service, Mr. Klein retired this year. Congratulations Mr. Klein!
Congratulations to Ron Welch who retired March 29th, putting the cap on a 50 year career in banking!
Ron worked quietly and respectably behind the scenes in computer operations most of those years. He started at the original Illinois National Bank in 1974 and remained through the many mergers and acquisitions of the 1980s and 90s.
He came to INB hoping for a job as a teller, but they told him they needed a forms clerk in the computer room. He took the job. Once there, he advanced to operator and senior operator, before taking a brief hiatus from the computer room to work as an assistant analyst. In the early 80s, he went back to the computer room.
Ron says his technology training was on the job. He learned new technology by writing things down. “That’s how us older folks do things,” he says with the hint of a smile. And even though Ron found a way to keep up with advances in technology, he says the most valuable lesson he’s learned is that not everybody is perfect. He adds that his approach to problem solving hasn’t changed. “I talk to other people, and we solve things together.”
Ron always understood the critical role he played in INB’s success. In the early days, he worked for different departments in the bank, taking piles of paperwork and digitizing them. Digitizing checks was a big part of that. Now, his work revolves around INB customers, especially the State of Illinois. He says he processes 10-15,000 documents a day.
Ron says he enjoyed the busy days. “I like the fast-paced part of it,” he says. “The busier we were, the faster the time went by.” But he adds he won’t miss the stress, adding, “But I’ll miss the people.” He notes that many of his early colleagues are long retired. “I’m pretty lucky,” he adds. “I’ve worked with some very good and knowledgeable people.” We’d say INB has been the lucky one. Congratulations to Ron on his well-deserved retirement.
Courtesy of Kelley Himmelberg VP, Director of Human Resources
Lynn Famighetti
The Illinois Bankers Association recognizes Lynn Famighetti with induction into the 50-Year Club.
Lynn began her banking career in 1971 as a teller. From 1973 through 1977 she worked in various Retail Operations positions before taking a position as retail Operations Manager at Fidelity from 1977 –2004. Lynn is currently the SVP Compliance Officer and Internal Auditor. She received her CRCM (Certified Regulatory Compliance Manager) designation in March 2014. Congratulations Lynn!
McGill Retires from INB, National Association
After a 45year career in banking, Sue McGill is calling it a career. Sue began her career in 1979 in the Credit Analysis department at Marine Bank. Furthering her career at Bank One, N.A., Sue became the Compliance Officer and ultimately finished her tenure at Bank One N. A. as a Project Manager. Sue was an Assistant Vice President at United Community Bank before moving to Illinois National Bank into the Compliance area.
Sue left the Compliance Department in October 2020 to focus strictly on training and working one-on-one with new employees on their first day with INB. Because of her broad expertise, she has served on countless INB committees and special project teams. She’s a go-to, get-it-done resource for everyone at INB. Congratulations Sue on a wonderful career!
Pam Sharar-Stoppel Retires from Wintrust
Randy Hultgren, President and CEO of the IBA, attended the celebration of the retirement of Pam Sharar-Stoppel.
Pam served as Executive Vice President and Regional Market Head for Wintrust’s western
suburban community banks. She is the former CEO and President of Wheaton Bank & Trust and served as chair of the board.
Prior to joining Wintrust, Pam began her career with the Australia and New Zealand Banking Group in Chicago and spent several years at JPMorgan Chase and its predecessors. Throughout her career, she has served in a variety of roles including credit analyst, commercial banking manager, branch president, managed assets manager, credit support manager, and senior underwriter.
Pam served on the IBA Board of Directors and was a member of the Board’s Executive Committee. She was a key thought leader of the Board of the IBA and will be missed by all. Congratulations Pam!
Kathy Francque to Retire from Quad City Bank & Trust
After 29 years of employment, Kathy Francque retired from Quad City Bank and Trust on April 30, 2024.
Kathy began with QCBT in August of 1994 and established the Correspondent Banking Division. She has held numerous positions, both at QCBT and QCRH, during her tenure. Kathy retires after 49 years in the banking industry! QCBT appreciates Kathy for her years of tireless hard work and dedication and wishes her the best in retirement! And the IBA applauds your long career in banking and on your retirement!
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Congratulations Brenda Dasch! Your commitment to the banking industry is exemplary.
Brenda Dasch is retiring after working 42 years for The Clay City Banking Company. Brenda mainly worked as a teller but had other duties during her service.
Congratulations Brenda on 42 years of loyalty and dedication to The Clay City Banking Company.
Michael Scudder (Mike) retired as Executive Chairman of the Board of Old National Bancorp (NASDAQ: ONB) on January 31, 2024, and following a 38-year career in commercial banking.
Mike assumed the Executive Charman role following the merger of Old National and First Midwest Bancorp in February 2022. Previously, Mike served as President and CEO of First Midwest from 2007 to 2022 and as its Chairman of the Board since 2017. Mike also held the position of First Midwest’s Chief Financial Officer from 2002 to 2007 as well as other executive leadership roles.
Mike began his professional career in public accounting with Peat, Marwick, and Mitchell (now KPMG) in 1982. When Mike was recruited to join First Midwest in early1986, it was to a newly formed, publicly traded, 20 bank holding company with $1.3 billion in assets and serving communities across suburban Chicago as well as central and northern Illinois. Over the succeeding 36 years, Mike helped First Midwest grow to $23 billion in assets and $13 billion in wealth assets under management as it became one of the largest financial institutions in metro Chicago, Illinois, and the Midwest.
Following First Midwest’s merger with Old National in 2022, the Company continues as one of metropolitan Chicago and Illinois’ largest financial institutions. Now with over $50 billion in assets and $28 billion in wealth assets under management, the Old National of today stands as the 6th largest commercial bank headquartered in the Midwest and one of the 35 largest in the nation.
Throughout his tenure, Mike has worked hard to stayed true to the Company’s community-based roots and values and has had the privilege of serving or working with countless customers, bankers,
and civic leaders from across the Midwest. Over his almost 40 years of service to the Company, he helped navigate its growth across multiple business and economic cycles and was involved in over 35 mergers and business combinations.
Mike has served in numerous civic and philanthropic roles over the course of his career, notably as a long-standing member of the Illinois Bankers Association, an inaugural member of the Federal Reserve’s Midwest Community Bank Advisory Board, Chairman of the ABA’s CEO Council for MidSized Banks and a member of the Board Directors of the American Bankers Association. Mike was a founding member and Chairman of the First Midwest Charitable Foundation. He currently serves as the Vice Chair of the Board of Trustees of DePaul University, Vice Chairman of Silver Cross Hospital, a member of the Board and Executive Committee of the Will County Center for Economic Development, the Commercial Club of Chicago, the Economic Club of Chicago, and the Bankers Club of Chicago.
Congratulations Mike on a well reserved retirement!
Doug Mills, former President of Busey Bank and a three-sport athlete at the University of Illinois, has died at the age of 84.
The University of Illinois’ Division of Intercollegiate Athletics announced his passing on Friday. Mills was a 1962 graduate who lettered in baseball three times (1960, 1961 and 1962), twice in basketball (1961 and 1962) and once in football (1961). He had the most success in baseball as a pitcher, being named to two All-Big Ten teams. He threw a no-hitter against Wisconsin in 1961 and was the 1962 Dike Eddleman Athlete of the Year.
Mills still ranks No. 2 in Illinois baseball history in career winning percentage by a pitcher, going 18-1 (.947) across his career.
After his college days, Mills went on to a 40-year career in the banking industry, joining Busey Bank and eventually becoming its president. Under Mills’ direction, Busey Bank went from a $40 million bank in Urbana to a $4 billion publicly traded company with operations in three states. He served as president and CEO until
George E. Drake, founder of Heartland Bancorp (now HBT Financial) and longtime President of Woodford County Bank in El Paso, IL (now Heartland Bank and Trust Company), passed away on May 13, at the age of 97. George is survived by his wife Elinor, and their 4 children: Marcia Dudley, Allen, Arthur, and Fred Drake, together with 15 grandchildren, 42 great grandchildren, 3 step great grandchildren, and 2 great great grandchildren.
George was a World War II veteran, serving in the Navy. He later graduated from the University of Illinois in 1948, with a degree in Agriculture. After graduation, he started working as Assistant Cashier at the State Bank of Cornland in his hometown of Cornland, IL, a farming community east of Springfield. That bank had been founded by his father M.B. Drake. In 1964, George moved his young family to El Paso, IL to become President of El Paso National Bank. That bank later merged with its cross-town competitor, Woodford County National Bank, in 1968. George continued as President of the institution and changed the name to Woodford County Bank.
August of 2007 and chairman of the Board of Directors until 2009. He fully retired from the company in 2010. Mills was recognized as Banker of the Year by the Illinois Bankers Association in 2004.
Mills was a loyal supporter of the Illinois Fighting Illini. Among other acts of support, he and his first wife Linda endowed the head football coach position in 1998. All head coaches since that year, including current coach Bret Bielema, have been titled the Douglas C. and Linda M. Mills Endowed Head Football Coach.
Linda, a fellow University of Illinois graduate, passed away in 2006 from breast cancer. Her legacy lives on with the Mills Breast Cancer Institute at Carle Hospital in Champaign, which she and her family helped establish.
Doug Mills is survived by his current wife of 12 years Cynthia, his sons David and Rob (Cristen), former daughter-in-law Meredith and granddaughters Madison and Ashley.
His funeral and celebration of life was held in the Colonnades Club of Memorial Stadium on May 30.
In the early 1970’s George also helped form Bank of Carlock (later named Heartland Bank and Trust Company), and he and his brother, Richard, purchased shares in the banks in Chenoa and Lincoln. In 1982, George formed Heartland Bancorp, which was one of the first multi-bank holding companies in Illinois. In 1997, the four bank subsidiaries of Heartland Bancorp were combined into Heartland Bank and Trust Company.
In the 1980s and 1990s, many community banks in Illinois merged with larger regional banks. Fortunately, George had the foresight and confidence to continue building the base for the long-term growth and success that HBT Financial has enjoyed. There are often compliments in the community about Heartland Bank, and their tradition, reputation, great team of people, and track record for success and growth. None of this would have been possible without the base built by George, and the commitment of many members of HBT Financial banks’ team.
George stepped away from active management in 1991, and formally retired from the bank in 2009. However, he was a member of HBT Financial Board of Directors continuously until stepping down in 2019 at the age of
92. George’s longtime associates would often tell of his management style, which was ‘hands off’ and encouraging, which enabled ‘good people to do good things.’ He was always available for sound advice, but never stood in the way of progress. He was very proud of the bank’s growth and success and enjoyed watching the company
Larry Edgar Daily, 65, of Georgetown, IL, passed away Friday April 5, 2024, at OSF Heart of Mary Medical Center in Urbana, IL.
Larry was born December 7, 1958, in Champaign, IL, the son of Elizabeth (Smith) and Russell Daily. He was the youngest of four children. The Daily family moved to Chrisman in 1969, where Russell Daily joined the State Bank of Chrisman—a banker for more than 50 years.
Larry attended Chrisman High School, Class of 1977, where he served on the Student Council, and was active in the Future Farmers of America (FFA), and 4-H. He was a leader on the varsity baseball and varsity basketball teams, the MVP of his senior year.
After High School, Larry attended Purdue University where he double majored in Animal Science and Agronomy, graduating in 1982. He was a member of Alpha Gamma Rho Fraternity, and was active in Fraternity and University activities, including the Purdue Grand Prix. He was a proud alumni and supporter of the Boilermakers!
While attending Purdue University Larry met Betsy Lambert, the daughter of Marcia and Howard Lambert of Georgetown, IL. Betsy and Larry were married in August 1986 in Georgetown. IL. Betsy teaches in the Georgetown-Ridge Farm school district since and is active with Larry in Georgetown and neighboring communities. Larry and Betsy have two children, Marshall (Sonya Fitzgerald) and Sarah (Opal Pursley).
In 1984, Larry began operating his family’s farm located north of Metcalf, IL. His love of farming and his family legacy was a driving force. Larry’s maternal grandfather, Edgar L. Smith, began operating the farm in the 1930’s with horses and horse drawn implements. Larry and Betsy successfully expanded their farming operation over the years.
advance and expand into new markets across Illinois and into Iowa. George will certainly be missed, but not forgotten.
Larry began his banking career at the Sidell State Bank as a loan officer and continued in commercial and agricultural lending at Edgar County Bank & Trust and First Federal Bank both in Paris, IL. He was currently a Vice President and Senior Loan Officer at First Farmers Bank & Trust (Paris Branch). Larry earned numerous advanced banking certifications during his career. He graduated from Cannon Trust School, University of Colorado Banking School, and Illinois Banker School. Larry loved helping his Ag and Consumer customers, trying to help them the best he possibly could!
Larry enjoyed camping and everything outdoors. He was an avid hunter and fisherman who pursued trout fishing at every opportunity. He honed in on his fly-fishing skills in the school gym at night while Betsy was grading papers and preparing lesson plans.
Active in the community, Larry was a member of the Bloomfield Masonic Lodge, Chrisman Lions Club, United Metcalf Methodist Church, Paris Rotary Club, (serving as a past president), Paris Young Farmers Group, Pheasants Forever, Ducks Unlimited, Friends of Lake Mattoon, and Mattoon 803 Moose Lodge. Larry’s commitment to education was evident as he served on the Edgar County CUSD #6 (Chrisman) Board of Education for 12 years- serving as board secretary for 9 years and was recently elected (2023) to the GeorgetownRidge Farm (CUSD #4) Board of Education.
Larry was preceded in death by his parents, Elizabeth and Russell Daily and his father-in-law Howard Lambert. He is survived by his wife Betsy, his children Marshall and Sarah, his mother-in-law Marcia Lambert (Georgetown, IL) and his sisters Flora Jayne Daily (Clarkrange, TN), Florence Ann (Joe) Best (Cissna Park, IL), and Maude Eleanor (Dwane, deceased) Hartman (Stewardson, IL), Brother-in-law Charlie Lambert (Denise), sister-in-law Barb Smith (Max). Nieces; Kristen Best, and Jean and Emily Ogle. Nephews; Matthew Best (Amanda), Mason Lambert (Haylee Hayes), Harrison Lambert (Kelsey Blackford), and Tyler and Bennett Ogle.
