November/December 2017
2017 VBA
Women in Banking Conference
IN THIS ISSUE
SIXTH ANNUAL LEADERSHIP CONFERENCE RECAP, DEREGULATION EFFORTS ADVANCE AND COMPLIANCE TRAINING REVOLUTIONIZED
Virginia Bankers Association
Bank Internship Program
Program Overview For Bank Mentors:
• Internship Program Templates & Materials - participating in this program gives banks access to custom banking industry internship resources to include: • Templates for Goal & Expectation Setting • Syllabus & Learning Objectives Templates • Evaluation Templates • Mentor Orientation - one day introduction and training for bank mentors hosted by the VBA. Program includes: • Program Overview • Internships Basics Presentation • Template & Material Review
For Interns:
• Intern Orientation - a one day training and introduction to the summer program hosted by the VBA. Program includes: • Industry Introduction and Program Overview • HR Best Practices, Including Workplace Etiquette Training & Expectations • Networking & Social Opportunities • Mid-Summer Meet Up - Hosted by the VBA • Additional Regional Events
VBA Internship Certificate of Completion Interns who complete the following requirements will be eligible for the VBA Certificate of Completion: • Attend one of the on-site trainings/networking events hosted by the VBA • Attend a community event or volunteer opportunity, selected by the host bank • Complete one of the four-week courses of the ABA online program, Banking Fundamentals • Complete the summer capstone project • Complete the VBA Internship Program self-evaluation
Informational Conference Call Please save the date for an informational conference call on January 15, 2018 at 10:00 a.m. to learn more about our program. Please use the dial-in information below: 1-877-338-0987 Room Number: 9173506
VBA Internship Program
This program will include collaboration with our Emerging Bank Leaders (EBL) group for networking and learning opportunities. The EBL connects Virginia bankers to engage them in the future of the banking industry.
Program Pricing $195 per intern
VBA Contact
Please contact Monica McDearmon at mmcdearmon@vabankers.org or 804.819.4743 with questions or for more information.
November/December 2017
2017-2018 Officers and Directors of the Virginia Bankers Association William H. Hayter, Chairman, First Bank & Trust Company Scott C. Harvard, Chairman-Elect, First Bank, Virginia John G. Stallings, Immediate Past Chairman, Union Bank & Trust Richard M. Adams, Jr., United Bankshares, Inc. John C. Asbury, Union Bank & Trust Ray L. Barnes, Jr., BB&T Christopher W. Bergstrom, United Bank Ravi Chandra, Wells Fargo Bank, N.A. Michael W. Clarke, Access National Bank Dabney T.P. Gilliam, Jr., The Bank of Charlotte County Jeffrey V. Haley, American National Bank & Trust Leton L. Harding, Jr., Powell Valley National Bank Charles R. Henderson, Bank of America, NA Brad E. Schwartz, TowneBank Joe A. Shearin, Sonabank Susan K. Still, HomeTown Bank Robert Wojciechowicz, Capital One Financial Corporation AT-LARGE MEMBERS VBA Benefits Corporation Chair Barry C. Elswick, TruPoint Bank VBA Management Services Inc. Chair Aubrey H. Hall, III, First National Bank Government Relations Committee Chair Gary R. Shook, Middleburg Bank, a Division of Access National Bank VBA Education Foundation Chair Jeffrey M. Szyperski, Chesapeake Bank
EDITORIAL & EXECUTIVE OFFICES 4490 Cox Road SUBSCRIPTIONS Glen Allen, VA 23060 If you would like to subscribe 804-643-7469 to Virginia Banking, Fax 804-643-6308 contact Monica McDearmon at www.vabankers.org mmcdearmon@vabankers.org. Bruce T. Whitehurst President and CEO Virginia Bankers Association
Virginia Banking is published bi-monthly. Copyright 2017.
Monica McDearmon Communications & Financial Literacy Coordinator Virginia Bankers Association
Statements of fact and opinion are made on the responsibility of the authors alone and do not imply an opinion or endorsement on the part of the officers or members of VBA.
Not Receiving ePublications? Make sure to add @vabankers.org and www.vabankers.org to your address book to ensure VBA email messages reach your email inbox. Visit www.vabankers.org/vba-subscriptions to sign up for PUBLISHED BY ePublications. Contact Monica McDearmon at mmcdearmon@vabankers.org with any questions.
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Š 2017 The Warren Group Inc. All rights reserved. The Warren Group is a trademark of The Warren Group Inc. No part of this publication may be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without written permission from the publisher. Advertising, editorial and production inquiries should be directed to: custompubs@thewarrengroup.com Call 800-356-8805.
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Women Supporting Women at the VBA Women in Banking Conference
features
12 18 22
Compliance Today Emerging Bank Leaders Connect & Engage Fall Financial Literacy Events
in every issue 4 Calendar of Events 5 Insights 6 Legal Line 8 Legislative Update 9 Worth Noting 10 New VBA Members 11 Washington Update 14 Compliance Corner 20 Member Spotlight 23 Bankers on the Move Send us your thoughts or ideas on Virginia Banking! Please email Monica McDearmon at mmcdearmon@vabankers.org. Has your information changed? Please email Kellee Edelin at kedelin@vabankers.org with your new contact information.
Save the Date: 2018 VBA Conferences & Events
Banker Day Greater Richmond Convention Center January 11, 2018 Financial Forecast Greater Richmond Convention Center January 11, 2018 Back to School at the VBA VBA Training Center | Glen Allen February 15, 2018
Bank Manager 2-Day School VBA Training Center | Glen Allen Spring Session: February 28-March 1, 2018 Fall Session: October 10-11, 2018
VBAConnect: A Conference for Bank Human Resources, Marketing, Retail Banking and Training Professionals Williamsburg Lodge May 14-16, 2018 VBA 125th Annual Convention The Homestead | Hot Springs June 17-20, 2018 Virginia Bankers School of Bank Management University of Virginia | Charlottesville July 29-August 3, 2018 CFO Conference Omni Richmond Hotel | Richmond August 27-29, 2018
Bank Secrecy Act 2-Day School VBA Training Center | Glen Allen March 6-7, 2018
BSA/AML Compliance Management Seminar Kingsport, TN September 10, 2018
Consumer Lending School VBA Training Center | Glen Allen March 14-15, 2018
VBA Management Development Program Sessions VBA Training Center | Glen Allen September 12, October 18, November 15, December 13, 2018 and January 9, 2019
VBA/VACB Directors’ Symposiums The Inn at Virginia Tech | Blacksburg March 28, 2018 The Westin | Richmond March 29, 2018 Spring CEO Event Location TBD April 9-10, 2018 Compliance School VBA Training Center | Glen Allen April 10-12, 2018 Interest Rate Risk & Investment Strategies Seminar VBA Training Center | Glen Allen April 17, 2018 VBA Internship Program VBA Training Center | Glen Allen Mentor Orientation: April 18, 2018 Intern Orientation: May 31, 2018 Mid-Summer Meet Up: July 10, 2018 VBA/ABA Government Relations Summit Washington Marriott Marquis | Washington, D.C. April 23-25, 2018
Commercial Lending School VBA Training Center | Glen Allen September 26-27, 2018 Lending & Credit Conference Omni Richmond Hotel | Richmond October 29-30, 2018 Women in Banking Conference Hermitage Country Club | Richmond November 8, 2018 Leadership Conference Location and Date TBD VBA-WVBA-MBA CEO Forum Location and Date TBD Call Report Training VBA Training Center | Glen Allen Date TBD Internal Audit Seminar VBA Training Center | Glen Allen Date TBD
VBAProtect: A Conference for Bank Security, Compliance, Enterprise Risk Management, Operations & Technology Professionals Williamsburg Lodge May 1-3, 2018
Questions about sponsorships? Contact Amy Binns, Senior Manager, Industry Partnerships abinns@vabankers.org | 804-819-4726
Insights
Stewards of Your Financial Future
T
Bruce Whitehurst President and CEO, Virginia Bankers Association
he recent American Bankers Association Annual Convention concluded with a strong focus on banking and small business. Virginia’s own Jeff Szyperski, chairman, president and CEO of Chesapeake Bank and ABA chairman-elect, moderated a panel with three bank CEOs, each joined by a small business customer. A banker from Chicago had an insurance brokerage firm principal to whom the bank had made a loan to help him start the business some years ago. A Seattle banker had the owner of a security firm that has grown to more than 600 employees, providing security to many companies, including some of the largest ones headquartered in the Seattle area. A Maine banker brought two brothers who started the Maine Beer Company, an early micro-brewery that has become very successful. Common themes from these business owners were that their bankers listened to them, took an interest in learning their business, took a chance on them and helped them start and/or grow their business. The bankers on the panel spoke to the character of their business owner clients, their clients’ personal investments – both financial and emotional – in making their businesses successful, and the pride they all had in what their clients had accomplished. This panel was a highlight of the convention, as it reinforced what we all know about bankers but through the eyes and words of
Common themes from these business owners were that their bankers listened to them, took an interest in learning their business, took a chance on them and helped them start and/or grow their business.
their customers: bankers invest in their customers and communities, and economic growth results from their investments. What a powerful image it was to have these small business owners rave about their bankers and talk about what valuable
partners they are to them! The panel was a perfect setup for the closing keynote speaker Marcus Lemonis, chairman and CEO of Camping World and Good Sam Enterprises and star of CNBC’s primetime reality series The Profit. In this series, Lemonis steps in to save failing businesses, investing his own money in the process. At the ABA Convention, Marcus talked about his personal mantra, “Business success is about the three P’s: People, Process and Product.” His primary focus – and rightly so – was about the first P: people. Marcus challenged bankers to really get to know small business owners who are customers and/or prospects, reminding the audience that the measure of a person will also be the measure of his or her ability to succeed in running a small business. Marcus talked about his own bankers and how they have invested in him throughout his business career. He identified how important it was when a banker told him no, or not yet, sharing his firm belief that bankers are stewards of their customers’ financial futures. This insight struck a chord with me, as it reminded me of VBA Chairman Bill Hayter’s remarks at our last Bank School graduation. Bill talked about the trust customers put in us as bankers and how sometimes saying no – when we know it’s the best possible answer and guidance we can provide – is an integral part of maintaining a relationship built on trust. We all know the banking industry’s image took a real hit with the general public following the financial crisis. Media coverage and highly charged political statements added fuel to that fire. According to annual Gallup polling, our industry’s image has been on the upswing for the last several years. This is good news, yet these two sessions at the ABA Convention made clear to me that there is even better news: banking’s image is perfectly fine with the millions of satisfied customers who – like the small business owners on that panel – see a partner, an advisor and a friend when they think of their banker. Email Bruce Whitehurst at bwhitehurst@vabankers.org with any comments on this article or tweet him at @BruceTW. November/December 2017 | Virginia Banking 5
Line
Legal
Progress on Regulatory Reform
W
ith the timing of Congressional action on bank deregulation uncertain, it is important to recognize the recent deregulation actions by federal administrative agencies that will have a positive impact on the banking industry. Here are just a few examples: OPERATION CHOKE POINT – TERMINATED.
Mel Tull General Counsel, Virginia Bankers Association
The Department of Justice recently announced the termination of Operation Choke Point, an initiative that sought to curtail legal but controversial businesses by working through bank regulators to pressure financial institutions to end customer relationships with those businesses. The DOJ’s announcement called Operation Choke Point a “misguided initiative,” and said, “the Department will not discourage the provision of financial services to lawful industries, including businesses engaged in short-term lending and firearms-related activities.” OVERTIME PAY RULE – INVALIDATED. A federal district court in Texas recently invalidated the Department of Labor’s overtime pay rule in a lawsuit brought by 21 states and several business groups. The rule would have doubled the salary level used to determine whether employees are classified as exempt from overtime under the Fair Labor Standards Act. The court ruled, “The Department has exceeded its authority and gone too far with the Final Rule.” “Nothing in Fair Labor Standards Act Section 213(a)(1) allows the Department to make salary rather than an employee’s duties determinative of whether a ‘bona fide executive, administrative, or professional capacity’ employee should be exempt from overtime pay.” The DOL is unlikely to appeal the ruling, thereby saving us from months of uncertainty about the rule’s ultimate fate. Prior to the ruling, the DOL was collecting public comments on the impact of the rule, and was expected to review and possibly revise the rule. PREPAID CARDS RULE – DELAYED. The Consumer Financial Protection Bureau
6 Virginia Banking | November/December 2017
recently delayed the prepaid cards rule’s effective date six months (until April 1, 2018) to give the industry more time to implement the rule, and to give the CFPB time to revisit several substantive issues. The CFPB identified two issues it would revisit: (i) the linking of credit cards to digital wallets that are capable of storing funds, and (ii) error resolution and limitations on liability for prepaid accounts that cannot be registered or have not been registered. The CFPB may address a limited number of other topics, and may consider a further extension of the effective date if needed in light of any changes they propose. EXPANDED PAYROLL DATA COLLECTION FORM – DELAYED. The Equal Employment Opportunity Commission postponed the effective date of changes to the EEO-1 report while the Office of Management and Budget conducts a review of the revised form. OMB noted that some aspects of the revised form “lack practical utility, are unnecessarily burdensome, and do not adequately address privacy and confidentiality issues.” The EEO-1 collects data on race, ethnicity and gender by occupational category. The revisions would require employers with 100 or more employees and federal contractors with 50 or more employees to add pay data and hours worked by gender, race and ethnicity in each of the EEO-1 job categories. The revised data collection requirements would significantly increase the number of data items from 180 to 3,660. FIDUCIARY RULE – DELAYED. The DOL recently finalized an 18-month extension (until July 1, 2019) of the effective date of several burdensome exemptions to the fiduciary rule, including the Best Interest Contract exemption, thereby allowing continued reliance on simpler exemptions during the extension period. The fiduciary rule greatly expands who is a retirement account fiduciary subject to the rule. It took effect on June 9, 2017, subject to special transition rules. During the extended transition period, the cumbersome Best Interest Contract exemption can be satisfied by compliance with the simpler Impartial Conduct www.vabankers.org
Bank Day will take place on Tuesday, March 20, 2018.
•
•
e sor Spon
Sponsored by the VBA Education Foundation and the VBA Emerging Bank Leaders.
ay Scholarshi D p nk
am og r Pr
CALLING ALL BANKERS! PARTICIPATE IN THE VBA BANK DAY SCHOLARSHIP PROGRAM!
For more information about these and other deregulation initiatives, contact Mel Tull, VBA General Counsel, at mtull@vabankers.org or (804) 8194710. This article has been prepared for informational purposes only and is not legal advice.
d
ou nd atio n
Federal bank regulators froze in place current transitional regulatory capital requirements and risk weights for mortgage servicing assets, deferred
numerous others affecting other aspects of the economy. Moreover, banking specific deregulation by the federal banking agencies should accelerate in coming months as the President appoints new leadership to the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the CFPB.
Ba
BASEL III IMPLEMENTATION – PAUSED.
tax assets and other assets while the agencies develop a proposal to simplify the capital rules to reduce regulatory burden, particularly for community banks. The transitional treatment for those items was scheduled to be replaced with a different treatment on January 1, 2018. The extension applies to banking organizations that are not subject to the agencies’ advanced approaches capital rules, which are those with less than $250 billion in total consolidated assets and less than $10 billion in total foreign exposure. Of the many deregulation efforts by federal agencies, these are just a few that will directly impact banking. There are
VBA
Standards (ICS) that require: (1) recommendations must be in the client’s best interest, (2) the advisor’s compensation must be reasonable, and (3) the advisor must not make misleading statements. IRA providers and advisors should conduct a best interest analysis and document their recommendations in order to comply with the best interest requirement of the ICS.
by nF the o i t VBA Educa
The third Tuesday in March was declared Bank Day by the Virginia General Assembly in 1991. On this day, high school seniors spend a day in banks across the Commonwealth shadowing a banker in their daily duties. The purpose of this experience is for the students to learn about banking, financial services, and the vital role banks play in their communities. From their experience, the students are required to write an essay on their Bank Day experience. $26,000 in college scholarships are awarded based on student essays.
For more information, visit www.vabankers.org/bank-day-scholarship-program. Please contact Monica McDearmon at mmcdearmon@vabankers.org or 804-819-4743 for more information. November/December 2017 | Virginia Banking 7
Legislative
Update
All Eyes on the Senate
A
Matt Bruning Senior Vice President, Government & Member Relations, Virginia Bankers Association
s has been the case with every major legislative initiative thus far in the Trump Administration, all eyes are on the U.S. Senate to determine action on financial regulatory reform. Unlike the unsuccessful efforts at repealing and replacing Obamacare and the ongoing debate on tax reform, both of which are able to be done under the reconciliation process requiring only a simple majority, any meaningful changes and relief for the banking industry require bipartisan support to break the 60 vote threshold for a filibuster. The health care bills were derailed by a few Senate Republicans joining all Democratic Senators in opposition and it remains to be seen whether the same scenario will play out on tax reform. With the higher threshold and the absolute necessity for bipartisan support in a body that has thus far not shown a proclivity to do so, financial regulatory reform’s path to enactment is trickier than even those larger policy issues. Since the House of Representatives passed the Financial CHOICE Act from House Financial Services Chairman Jeb Hensarling (R-TX) earlier this summer, the focus of our industry grassroots and lobbying efforts has centered on what, if anything, could gain traction in the Senate. The sheer volume of the components contained in the CHOICE Act and the fact it passed on a party-line vote in the House made it clear that it would not make it out of the Senate whole. The fact that it contained several provisions that did have support from legislators on both sides of the aisle causes hope that a compromise is possible. The VBA recently delivered a letter to Virginia Senators Mark Warner and Tim Kaine, signed by more than 40 Virginia bank executives, that continues our press for action. The letter outlines the magnitude and costly impact of overregulation and the resulting negative impact on both the banking industry and the overall business and economic environment. Highlighting several key provisions for inclusion in a bipartisan bill as well as the need for additional reforms, this is the latest effort to convey the urgency for meaningful results in Congress. Early in October, Senator Mark Warner joined three other Democratic members of the Senate Banking Committee on a letter to the Chairman and Ranking Member signaling their support for a bipartisan regulatory reform package. Acknowledging “the need to rationalize our financial regulatory regime and to re-
duce unnecessary regulatory burdens, including for small, mid-sized, and regional lenders,” this group of perceived moderate Democrats encouraged the Committee leaders to reach an agreement. Senate Banking Committee Chairman Mike Crapo (R-ID) and Committee Ranking Member Sherrod Brown (D-OH) attempted to negotiate a framework for reforms in the early fall. When that failed to materialize, Chairman Crapo and the moderate Democratic members of the Committee pivoted quickly to assemble a bipartisan reform package. In early November, that bipartisan agreement was announced. We were pleased that our Virginia Senators Warner and Kaine were two of the original nine Democratic Senators to sign on to the bill along with the Chairman and eight other Republicans. While the package of reform measures included in the compromise bill is narrower than the House bill, it contains meaningful reforms that will enable many banks – especially community banks – to expand their lending and investment while reducing the red tape for borrowers under the current regulatory structure. It is an important first step towards better tailoring of regulation. Among the components are QM safe harbor for loans held in portfolio for banks under $10 billion in assets, raising the SIFI designation threshold from $50 billion to $250 billion, capital ratio simplification for community banks, and several other mortgage, reporting and examination improvements. With Congress wrestling with contentious issues like tax reform proposals – along with measures requiring attention such as government funding and the debt ceiling – the timeline for potential movement on financial reform is narrow. Delays or breakdowns in the bipartisan cooperation moving towards a resolution are unacceptable. With the 2018 federal elections looming, pushing a potential agreement too far into next year only heightens the fragility and possible political gamesmanship that could derail what is possible. When the VBA reaches out for grassroots banker engagement with your elected officials, it is critical to put on the full court press and let them know there is no time to waste. The Senate needs to support, lead and ensure substantial regulatory reform becomes a reality. Thanks to all those who contacted Senators Warner and Kaine over the past months urging their action. Their continued support for meaningful regulatory reform in the coming weeks will be critical to finally achieving some progress.
Email Matt Bruning at mbruning@vabankers.org with any comments on this article. 8 Virginia Banking | November/December 2017
www.vabankers.org
Noting
Worth
PREVER POSTHUMOUSLY AWARDED GEORGE BAILEY DISTINGUISHED SERVICE AWARD
The fourth annual George Bailey Distinguished Service Award was posthumously awarded to Elizabeth “Beth” Prever, former senior vice president, marketing and PR, TowneBank, at the recent American Bankers Association Annual Convention. Beth built a robust volunteer program at the bank. The program ranged from working with the Roc Solid Foundation to building playsets for children with cancer to fundraising for Amyotrophic Lateral Sclerosis (ALS) through the Virginia Beach ALS Walk. Over the years, her efforts raised approximately $400,000 for the cause, transforming it into the largest ALS walk in the country with significant participation from bank employees. Sadly, in 2016, Beth was diagnosed with ALS and passed away in August of 2017. Beth’s contributions to her community and the banking industry will always be remembered and appreciated by the VBA and our members.
SZYPERSKI ELECTED ABA CHAIRMAN-ELECT
At this year’s American Bankers Association (ABA) Annual Convention, Chesapeake Bank Chairman, President and CEO Jeff Szyperski was elected 2017-2018 ABA Chairman-Elect. In this role, Jeff will serve on the executive committee of the ABA and will serve as 2018-2019 ABA Chairman. Congratulations to Jeff on his election!
ONGOING THROUGHOUT THE YEAR
About the GSB Online Seminar Series Offering a convenient and cost-effective way to participate in educational opportunities, these programs are designed specifically for financial professionals and delivered by some of today’s top industry experts. The use of state-of-the-art audio and video technology ensures a quality, interactive learning experience. Relevant, bank-specific topics provide a solid educational value for you and your staff.
Educating Professionals, Creating Leaders
2017
GSB ONLINE SEMINAR SERIES
Registration includes: • One connection into the online seminar presentation—invite others to participate through the same connection at no additional cost • Handouts and other resource material • Unlimited access to the recording of live, online seminar presentations for 90 days after the conclusion of the program • Access to industry experts and nationally known speakers from the convenience of your office
GSB. org November/December 2017 | Virginia Banking 9
Welcome
New Members
NEW VBA MEMBER BANKS:
FINANCIAL INSTITUTION ASSOCIATE MEMBERS:
COMPLIANCE SERVICES/SECURITY SERVICE ASSOCIATE MEMBERS:
Severson Consulting LLC
@RISK Technologies, Inc.
Address: 3149 Gullane Court Powhatan,VA 23139 CONTACT: MARK SEVERSON Phone: (804) 317-1568 Fax: (804) 372-9414 Email: severson.marka@gmail.com
Address: 16400 Dallas Parkway, Suite 100 Dallas,TX 75248 CONTACT: JOHN BLISS Phone: (972) 532-6770, ext. 401 Fax: (972) 532-9219 Email: jbliss@atrisktech.com
Formerly a chief financial officer for publicly traded bank holding companies in the mid-Atlantic for 27 years, Mark Severson is now providing consulting services for bank holding companies in the areas of SEC, regulatory and financial reporting, investor relations, management and financial reporting and project management.
@RISK Technologies, Inc. is a network consensus cybersecurity company that leverages IBM's Watson Artificial Intelligence to provide a real-time, quantified approach for managing enterprise wide cybersecurity, improving threat protection and prediction, and achieving heightened compliance and less risk. @RISK automatically forecasts, investigates and isolates security incidents through network consensus.
Interested in associate membership in the VBA? Contact Amy Binns at abinns@vabankers.org or 804-819-4726.
10 Virginia Banking | November/December 2017
www.vabankers.org
Update
Washington
Making Things Happen
Y Rob Nichols President and CEO, American Bankers Association
ou’ve heard the saying that there are three kinds of people in the world: people who make things happen, people who watch things happen and people who wonder what happened. In my experience, the women and men who lead America’s banks fall decidedly into the first camp. It could be because you lead the institutions that serve as the engine of America’s economy — and together, you comprise one of the most important industries in our nation. It could also be because most of the bankers I meet and talk to in my travels are deeply engaged in industry affairs. They are at their state association’s convention, serving on its board or on one of ABA’s many councils, working groups or committees. They are tending not only to what their employees, customers and communities need, but also to what the industry, economy and country need to thrive. This extra service makes a big difference. When bankers engage in their association’s affairs or in advocacy, a host of good things happen. Some examples: It was a member of ABA’s “official family,” for instance, who suggested ABA fly down to Houston and Naples following Hurricanes Harvey and Irma and capture on video – for all to see – how banks and bank employees were responding to the local disasters. The result of that suggestion is a video – which you can view at aba.com/HurricaneResponse – that showcases how bankers lead their communities in difficult times. We’ve been promoting this video widely and encouraging bankers to do the same because it tells such an important and positive story about our industry. I’m grateful to Bob Jones (United Bank, Atmore, Ala.), who serves on the ABA Foundation board and also chairs the Fund for Economic Growth, for suggesting this. Bankers serving on ABA’s Community Bankers Council, along with senior loan officers and others at member banks, made a big difference when they provided us essential feedback during the Consumer Financial Protection Bureau’s rulemaking on small-dollar loans. Their comments, which we relayed in letters and meetings with bureau officials, resulted in a critically im-
portant exemption for banks from the CFPB’s final rule requiring short-term, small-dollar loans to meet an ability-to-repay test. Banker involvement was also the key to scoring improvements last year to the Call Report for smaller banks. We are seeking to replicate that success as the agencies undertake a review of their safety and soundness exams. That’s why ABA invited regulators to listen in on two banker conference calls we hosted on the topic – so that regulators could hear bankers’ perspectives early on in their review process. And of course, bankers’ engagement on the CFPB’s arbitration rulemaking not only helped shape ABA’s policy position on the issue, it ultimately helped persuade Congress to overturn the rule, securing a critical win for bank customers who would have lost access to a resolution option that was faster, more economical and more beneficial to consumers than class action litigation. The truth is, we rely on bankers to inform and guide everything we do, from our comment letters on regulatory proposals and advocacy communications, to conference content and online training. That is the only way associations can succeed. So my appeal to you is this: Help us help you. We are fortunate to have many engaged bankers, but we need more. We especially want to make sure tomorrow’s bank leaders are engaging today. ABA Chairman Ken Burgess told the crowd at our annual convention that he learned the importance of actively participating in association and industry affairs early on from his dad, who was involved with both the Texas Bankers Association and Independent Bankers Association of Texas, as well as ABA. It’s a legacy he is passing on to his staff, and I hope our other banker volunteers will do the same. Odds are that whatever position you hold in your bank, you possess expertise that your state association and ABA are eager to tap. Look for opportunities to join a working group or serve on a committee. Respond to surveys asking your views on an issue or business practice. Tell us what your bank needs help with to succeed. Guide us, use us. That’s why we are here. And it’s how, together, we make good things happen.
Email Rob Nichols at nichols@aba.com. November/December 2017 | Virginia Banking 11
Compliance
Today
State-of-the-Art Testing Platform Helps Banks Assess Their Employees’ Training Needs
A Jackson Hataway, Ph.D. Senior Consultant, Extreme Arts & Sciences
big part of running a successful bank is knowing what you know and knowing what you don’t know. This is true for any business that builds its business model on managing risk and uncertainty. In an environment defined by complex regulatory structures, the effects of not realizing what you don’t know can quickly outpace the value of what you do know. Examples of this are endless, and none of them come from having bad intentions. Instead, they come from placing too much faith in saying “We’ve trained our people.” Situations like these all have serious consequences for the bank and that’s why thorough and valid testing has to be a critical element of every financial institution’s compliance efforts. At every institution, regulatory compliance sits near the top of the list as a major strategic issue that banks must be able to consistently manage – but that constantly leaves them feeling behind in terms of cost and confidence. We all know too well that managing federal mandates has become a particular pain point for compliance officers since the Banking Secrecy Act. Last year, for example, several big and some small banks generated headlines when they were hit with large civil money penalties, ranging from more than $2 billion for a large interstate bank to $4,500 for an individual bank officer. Traditionally, banks approach compliance training in a straightforward way: train and test, train and test. The problem with that model is that it’s always directly connected to the training that is offered and it doesn’t provide a consistent gauge of how well bank employees actually understand and implement regulatory requirements. In other words, we rarely know if what we’re teaching them lasts beyond the 30-minute compliance training – until we see the down-the-line effects of a misstep with regulators. Twenty-eight state bankers association executives have been tackling this issue and looking for solutions for the past couple of years. The SBAs took this idea to representatives of the FDIC and OCC, and their response was
12 Virginia Banking | November/December 2017
positive. They then approached Randy Harrington, Ph.D. and owner of Eugene, Oregonbased Extreme Arts and Sciences, who began to leverage his team, which works with high-tech clients like Microsoft and Adobe, to develop an economical and scalable solution that would give banks confidence and direction in their compliance training. Harrington is no newcomer to the financial services industry. A highly sought-after strategic planner, he has spent the last 15 years working with banks across the nation to help them find ways to sustain growth. The end result is the banking industry’s first Testing Management System (TMS) - Compliance Today. This web-based platform offers bankers a revolutionary method for managing the compliance knowledge of their workforce in today’s digital age. Harrington’s team refers to their platform as “A testing management system built for today’s world.” It’s a phrase that was birthed from a vision to deliver a fully modernized system to an industry encumbered by paper envelopes, stacks of files and fax machines. Faster, more powerful and more insightful – that’s the promise of Compliance Today. Some of the key compliance areas where Compliance Today tests focus include: BSA, fair lending, privacy, Regulation CC, Regulation D, flood, Regulation O, Regulation E, RESPA, Regulation Z, and UDAAP. Compliance Today is posed to be a game changer for banks in three major areas. The first is the ability to verify that employees understand and can apply necessary compliance standards every time. Unlike the traditional “test and train” model, this testing platform gives you an unbiased perspective on your staff’s understanding of each piece of critical regulation that applies to their area of the bank. Second, when it comes to auditing, the reports generated by the Compliance Today platform will improve compliance audits and ongoing personnel development. The platform allows banks to set the bar for its employees, test their knowledge, discover areas for improvement and www.vabankers.org
produce individual, department and bank-wide independent compliance reports. On top of that, when gaps are identified, the platform will suggest relevant learning resources to ensure your organization is a leader in compliance. Finally, the platform gives banks the opportunity to assess the effectiveness of compliance education efforts, along with the ability to review your own bank’s performance in comparison to aggregated data from hundreds of other banks. For the first time, banks can have instant, independent reports that show you how well your compliance education is delivering on a day-to-day basis. That doesn’t mean your bank’s data is ever shared with other institutions; instead, the system provides you anony-
mized, data-driven benchmarking to help you tailor your compliance training efforts so that your bank never falls behind. Perhaps the biggest value point of Compliance Today is that the platform requires no previous knowledge to set up or use. An administrator at the bank can simply add, manage and assign users to tests, send emails, review scores and analytics, make payments and even submit course feedback all from one convenient location. These tests are written by former examiners and they are reviewed by compliance attorneys and former examiners. The administrative features allow you to get the tests you need directly to the right employees and the results and reporting are automatic. The tests
nccb
2018
offer a clean and elegant interface; easy to use with very little clutter. You simply buy what you need with no subscriptions or ongoing charges. Regulation isn’t getting easier for our banking clients. It is requiring more education at every level and in every department and regulators are demanding proof points that what banks are doing is actually having an impact. That creates a lot of concern about cost and scale with no clear answer. Be on the lookout for additional information about Compliance Today and how to sign up. Jackson Hataway, Ph.D., is a senior consultant at Extreme Arts & Sciences who works heavily in the financial services industry.
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4:31 PM November/December 2017 | Virginia10/27/17 Banking 13
Compliance
Corner
ADA Website Accessibility Update
T Kimberly R. Graves Compliance Specialist, Compliance Alliance
Dimitris Rousseas Deputy General Counsel, Compliance Alliance
he recent wave of Americans with Disabilities Act (ADA) class actions submitted by serial plaintiff attorneys, including several in Virginia, to enforce the Web Content Accessibility Guidelines (WCAG) 2.0 standard showed initial signs of abating due in part to the successful efforts from several state banker associations (SBA) and state Attorney Generals (AG). One SBA successfully reached an agreement with a disability rights group to release member banks from ADA claims related to electronic banking services. In Nevada, the AG is intervening on a number of ADA lawsuits filed in the state by asking the judge to set aside and dismiss the cases. Other SBAs and AGs are following suit to help mitigate frivolous lawsuits. The SBA and AG interventions largely rely on the state barratry laws which prohibit frivolous lawsuits. Business advocates argue the lawsuits are formulaic, follow the same template, and designed to harass and intimidate defendants. In a nutshell, they argue these lawsuits are nothing more than a shakedown to extract attorney fees. These shakedowns often work, as we saw back in 2012 with the ATM lawsuits where many banks paid the ransom rather than fight a court battle. While fighting is an option, it is expensive and doesn’t always work. A recent case in the Southern District of Florida, Gil v. Winn-Dixie Stores, Inc., is one such example. The plaintiff claimed that Winn-Dixie, a chain of grocery stores, did not have an ADA accessible website. The plaintiff alleged the JAWS and NVDA software programs (the two most common software programs used by disabled persons) did not function with Winn-Dixie’s website and, therefore, claimed the website was inaccessible to disabled persons. The case hinged on two issues: 1) whether a website is a “place of public accommodation” and therefore subject to the ADA and 2) if applicable, what standards apply to the website. The 11th Circuit, the jurisdiction of the Florida District Court, has yet to decide on
14 Virginia Banking | November/December 2017
the first issue of whether the ADA applies to websites. Other circuits are split on this issue. Generally, courts consider websites subject to the ADA when there are goods or services available through that company’s website and the company has a brick-and-mortar storefront. A company’s online presence is often more important than their physical location to the point where if you are not online, you may as well not exist to a large portion of the population. This point is what the court seemed to key in on; that the physical and virtual space a company occupies is indistinguishable from each other. The Florida court found that since Winn-Dixie’s website served as an entry point for its physical stores, the ADA would apply. The second issue is a bit more nuanced, but in the end the Florida court fell short of ruling that the WCAG 2.0 is the definitive standard or providing any specific ruling on what the standards should be. However, the terms of the ruling do compel Winn-Dixie to comply with the WCAG 2.0 standards for their website. The unpublished decision is not binding to any company outside the Southern District www.vabankers.org
of Florida, but it does provide some persuasive authority for other lawsuits that may spring up in different states. The Central District of California chimed in on the subject not long after the Florida decision. The plaintiff in a California case sued Hobby Lobby for lack of website accessibility using the JAWS software program. Hobby Lobby moved to dismiss the case based on the fact that no standard had yet been set in regards to website accessibility. The court rejected the motion to dismiss and allowed the case to move forward. The court argued that the lack of definitive standards does not exempt Hobby Lobby from complying with the ADA. Another case from the same district in California recently made news due to the judge’s novel use of an order certifying a constitutional challenge, which he charged the U.S. Attorney General with answering. On August 22, 2017, federal district judge Otis D. Wright hit the pause button on litigation in Robles v. Pizza Hut. Robles is the same plaintiff who won a suit against a Pizza Hut competitor, Dominos, in which he alleged the same violations of ADA. This time, though, the defendants successfully convinced the judge that there might be a constitutional issue with the ADA, namely that it might be “vague,” thus making compliance nearly impossible. Presumably, the AG will opine as to the scope of the Act (i.e. whether the Act applies to the online marketplace, and if so, to what extent) and provide guidance on technical standards necessary to satisfy the Act. One point that both the Florida and California courts noted was the relative ease and low cost of complying with the WCAG 2.0 standards. The plaintiff in the Winn-Dixie case argued, to which the court agreed, that the cost of compliance with the WCAG 2.0 standard was a drop in the bucket compared to the overall bud-
get spent on the website. The plaintiff argued that the website could easily be upgraded for under $40,000, compared to the $7 million the defendant recently spent on upgrading the site without giving any thought to accessibility. The Department of Justice (DOJ) did not do us any favors by failing to address ADA website standards in their upcoming regulatory agenda. They had previously indicated that guidance would be forthcoming in 2018. Though the department had placed the issue low on its to-do list, and the proposed rule issued back in 2010 (75 FR 43460) remains just that – proposed the federal district case from California challenging them to bring the Act into the 21st century may be just what the proverbial doc-
tor ordered. Normally banks would applaud restraint from agencies issuing any more guidance, but this is an area for which banks, and other companies, would actually benefit from some clarity. In awaiting the DOJ’s response to the federal judge with bated breath, it is reasonable to view the resolved litigation as common law moving towards the WCAG 2.0 standard. The VBA has additional resources available on this issue. Please contact Mel Tull at mtull@vabankers.org for more information. Compliance Alliance, a VBA Endorsed Provider, offers a wide variety of compliance support resources. To learn how to put them to work for your bank, call them at (888) 353-3933 or visit compliancealliance.com.
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November/December 2017 | Virginia Banking 15
Banking
Women in
2017 VBA
Women in Banking Conference
“It gets loud in a world that insists on significance. Master the silence of knowing that it’s something you already have.” – Nicole Ziza Bauer
T
his year’s Women in Banking Conference brought together more than 100 women from around the Commonwealth for thought-provoking sessions on finding success in the banking industry. The conference encouraged women to get creative and to develop and discuss innovative approaches to current industry issues. At the conference, sessions included Authentic Leadership: Defining What Success Means to You, presented by Andrea Harlow, Williams Mullen; The Neuroscience of Bias and Inclusion, presented by Joy Greene, Capital One; Collaborating for Change, an Interactive Session, facilitated by Libby Dishner, Cresco Coaching & Consulting, LLC; Economic Update, presented by Dr. Alice Kassens, Roanoke College; and keynote presentation, What Are You Waiting For?, by Dorinda Smith, SunTrust Mortgage. The Women Leaders in Banking Panel, moderated by Melissa Laughon with Catch Your Limit, included Mavis McKenley, 16 Virginia Banking | November/December 2017
AMG National Trust Bank; Shareema Williams, Essex Bank; and Ann-Cabell Williams, Sonabank. Panelists discussed their personal career stories, the roles mentors have played in their career and their approach to work/life balance. This year’s conference included the Women in Banking Book Club, featuring Grit: The Power of Passion and Perseverance by Angela Duckworth. Over lunch, book club participants discussed the overall theme of the book – that the secret to outstanding achievement is not talent but a special blend of passion and persistence Duckworth calls “grit.” This theme carried over in many of the sessions throughout the conference. Thank you to this year’s Women in Banking Conference sponsors: DCMI Mid-Atlantic, FHLBank Atlanta, KBS Results LLC, Thomas Compliance Associates, and Williams Mullen. Save the date for the 2018 Women in Banking conference on November 8. www.vabankers.org
Julia Clark and Michelle Crook, Bank of Botetourt
Bankers from Chesapeake Bank at the Women in Banking Conference.
Conversation during the Collaborating for Change roundtable session.
Libby Dishner, Cresco Coaching & Consulting, LLC, facilitated the table reports during the Collaborating for Change roundtable session.
To kick-off and close the conference, attendees participated in an exercise where they exchanged cards of motivation and challenge.
Mavis McKenley (middle), AMG National Trust Bank, served on the Women Leaders in Banking Panel.
Joy Greene, Capital One November/December 2017 | Virginia Banking 17
Leadership
Conference
Sixth Annual Leadership Conference
T
he 2017 Leadership Conference took place October 12-13 at the Stonewall Jackson Hotel in Staunton. Close to 60 emerging bank leaders from across the state came together for two days to share ideas, network, and attend sessions on topics currently affecting the banking industry. The Conference was emceed by Adam Hill, 2017-2018 Emerging Bank Leaders (EBL) chair, who welcomed the group and gave an update on the EBL efforts across the Commonwealth over the last year. Bruce Whitehurst kicked-off the event with an interactive industry update, and Dickie Bell, Virginia House of Delegates, provided his thoughts on the importance of bankers’ involvement in advocacy and supporting financial literacy initiatives in their communities. Other presentations included an economic update by Mark Vitner, Wells Fargo; Using Your Personal Brand and Untapped LinkedIn Strategies to Increase Your Impact by Christopher Jones, Authentic LeaderTM Digital Banking Trends Update by Dave Waller, Q2; and Leading from the Middle: Creating Your Position of Influence by Hugh Ballou, Transformational Leadership Strategist/SynerVision International Inc. The CEO Panel, featuring Bill Hayter, First Bank & Trust Company; Lyn Hayth, Bank of Botetourt; and Bruce Whitehurst, Virginia Bankers Association was moderated by Adam Hill. The panel discussed professional growth, industry hot topics and challenges, the future of the banking industry, and the importance of being involved in groups like the EBL.
Adam Hill, Union Bank & Trust and current EBL chair, emceed the event. 18 Virginia Banking | November/December 2017
Three EBL Steering Committee members, Adam Hill, Union Bank & Trust; Tom Rasey, The Farmers Bank of Appomattox; and Sherry Williams, Chesapeake Bank, made up the EBL Panel, moderated by Chandler Owdom with the VBA. This group discussed their involvement in government relations and financial literacy, steps they’ve taken to become leaders at their banks, and ways the group can attract new talent and the next generation of bankers. Additionally, attendees made time to get to know each other through roundtable sessions and a networking dinner, sponsored by Troutman Sanders LLP. Thank you to Troutman Sanders, Q2, Thomas Compliance Associates, Inc. and the Graduate School of Banking at the University of Wisconsin – Madison for sponsoring this event! The conference recognized two members of the EBL that have gone above and beyond in the areas of financial literacy and government relations. Jennifer Register, Old Point National Bank, was recognized for her commitment to financial literacy, and Marshall Jett, Essex Bank, was recognized for his involvement with government relations efforts. Dorothy Welch, Blue Ridge Bank, was also recognized for her leadership as the EBL chair for 2016-2017. Thank you to all of the attendees for participating at the conference. To learn more about the Emerging Bank Leaders and upcoming EBL events in your area, visit our website at http://www.vabankers.org/vba-emerging-bank-leaders or contact Chandler Owdom at cowdom@vabankers.org.
Seth Winter, Troutman Sanders LLP and conference sponsor, introduced the CEO Panel. www.vabankers.org
Bill Hayter, First Bank & Trust Company and VBA chairman, spoke to attendees during the CEO Panel. Bill was joined by moderator Adam Hill (left) and panelists Lyn Hayth and Bruce Whitehurst (right).
Christopher Jones discussed the importance of developing a personal brand.
Attendees actively participated in Hugh Ballou’s session, which emphasized leadership as well as working as a team.
The EBL Panel featured (from left) Adam Hill, Sherry Williams, and Tom Rasey.
Mukesh Patel, Wells Fargo, reported to the group on the topic of fintech during the roundtable discussions. November/December 2017 | Virginia Banking 19
Spotlight
VBA Staff Member
VBA Staff Member Spotlight – Stacy Puckett CFO – Virginia Bankers Association My goal for the next year: Be a better person tomorrow than I was today. It may sound corny, but I truly aim to leave the world a better place than when I came (or at least my little piece of it). If I could afford my life by just volunteering, I would!
My Media Mix: A. Music – I enjoy Christian music. Third Day is a current favorite – I recently saw them in concert at the Christian Music Fest. Mercy Me is another group I enjoy. B. TV – I love The Big Bang Theory and The Middle. I can’t forget about HGTV and I also love the NCIS series. I watch TV during my down-time, so I don’t like shows that are too complicated or heavy. C. Books – I am currently reading The Child by Fiona Barton. I also read a lot of James Patterson – I appreciate that they’re short reads and chapters aren’t overly complicated. I don’t enjoy having to keep track of a ton of characters!
What I do when I’m not at work: I have two sons – Connor and Jason. Connor is 21 and a junior at Virginia Tech and Jason is 23 and a 2016 Virginia Tech grad who currently works at SunTrust in IT audit. I married a Hokie and with my two boys being Hokies, we have become a Hokie family (even though I went to the University of Richmond). We have season tickets to Virginia Tech football games and go as family when we can. My family enjoys traveling. My favorite trip that we’ve been on 20 Virginia Banking | November/December 2017
as a family was to Sanibel Island. Now that my boys are older, my husband and I enjoy traveling with family and friends. We typically take a trip every fall with a group of friends. My next trip is booked to San Diego. I also enjoy good food – Italian and chocolate are favorites! Social 52 is a fun new spot in Richmond that we’ve been going to.
Tell us about your involvement with your church’s youth group and mission trips. What is your favorite part of your time with this group and the work that you accomplish? I think my favorite thing about working with youth has been the realization that kids are much more accepting than I would have ever thought. They don’t have the pre-judgements that people assume they have, and when given the opportunity, they really can and do make a difference. I see a small group of middle schoolers on Wednesday nights and a group of middle and high schoolers on Sunday nights. I enjoy being an adult they can talk to about things that they may not feel comfortable talking to their parents about. I have been an adult volunteer on 19 youth mission trips through my church – each trip having anywhere from 50-65 students. I love giving them the opportunity to see things they wouldn’t otherwise be able to see and experiences they would not get to experience just sitting at home. We take them out of their comfort zone and take away material things. Because of this, they become friends with people they may not normally gravitate towards and www.vabankers.org
realize the impact they can really have. This group exposes them to kids their age from all over the area, not just kids from their school. We do at least two overnight retreats before mission trips, to give them an opportunity to get to know one another. One of my most memorable trips was to Atlanta a few years ago. We had no AC where we were staying and we were right next to a park where a lot of homeless people lived. Our group (my oldest son included) played basketball in the park with some of the locals and there were really cool ministries we worked with in the Atlanta area to try to help these very people. Another memorable trip was to a homeless group who lived in the woods in Raleigh. It was eye-opening for the kids and adults on the trip how these people were living. I was so proud of the students for embracing the experience; they all left feeling very fortunate for what they were going home to. Doing youth work does not come with instant gratification. I never pictured myself in this position, but if one in the thousands of kids that I’ve met said that they loved it, then it’s all been worthwhile. Trust me, it’s not the air mattresses or community bathrooms that keeps me going back summer after summer.
The Book Club at the VBA’s recent Women in Banking Conference dis-
cussed the book Grit. The message in the book is that the secret to outstanding achievement is not talent but a special blend of passion and persistence called “grit”. How have you found your “grit” over the years and what advice do you have for young women professionals? I believe you should have a balance of common sense, intelligence, and social skills to be successful. Without a balance of all three, it just won’t work and just one of three won’t get you too far. You have to know your position – what are you there to do and what are your strengths? I know that I’m a “back-room person” and that works for me in the role that I’m in. Be true to yourself and find something you enjoy. Everyone has good days and bad days, but don’t take yourself too seriously. You don’t have to love 100 percent of it 100 percent of the time, but you must enjoy the whole package.
You have been working with the animal rescue league BARK for 4 years. How did you get involved in this organization and what has kept you going back year after year? Animals provide unconditional love. I volunteer at BARK at least twice a week. BARK has 65 kennels with anywhere from 75-100 dogs on any given day. Our workers
are all volunteers and our dogs come from all over the state of Virginia. We normally rescue dogs from municipal shelters who are within 24 hours of being euthanized. Our goal at BARK is to get them healthy, spay/neuter/micro-chip them, and hopefully find them a new home. All our dogs have a place for life at BARK. On Thursdays and Saturdays, I’m a Crew Lead, meaning I train any new volunteers and ensure that the animals are given the care that is expected. Volunteers clean kennels, feed the dogs, love on them, give them exercise, and tend to their medical needs. On a personal level, I buy dog food, pay for medical care, and have even fostered.
How long have you been with the VBA and what do you feel is the biggest benefit the VBA offers its member banks? I am celebrating 20 years at the VBA this month. One of the biggest benefits to our banks is that we can accomplish more as a group than they could as individual institutions. Some of the smaller community banks would not have the opportunities and access to things they participate in without the VBA. As a group, we are able to shop around for benefits, provide more robust education and training offerings, and create a united voice for the industry in Virginia. We are all on the same page through the VBA.
November/December 2017 | Virginia Banking 21
Recent Financial Literacy Get Smart About Credit Day
Events
Junior Achievement of Central Virginia Finance Park
Get Smart About Credit Day, a program sponsored by the American Bankers Association (ABA) and supported by the VBA, was celebrated on October 19. On this day, and throughout the fall, bankers made classroom presentations to high school students on financial literacy topics such as using credit wisely, managing their money, protecting their identity and saving for college. Seventeen banks registered in Virginia, making 311 presentations to 9,821 students. The ABA and VBA hosted a group of middle school students at the Junior Achievement Finance Park in Fairfax on Get Smart About Credit Day. ABA President & CEO Rob Nichols volunteered with the group as well as other ABA and VBA staff and bankers from Burke & Herbert Bank, WashingtonFirst Bank and Freedom Bank.
This fall, Junior Achievement of Central Virginia unveiled their new Finance Park on the third floor of the Libbie Mill Library in Richmond. This park will serve an estimated 9,000 students in Central Virginia during the 2017-2018 school year. The VBA Education Foundation contributed $10,000 to the development of the park.
Jump$tart Financial Literacy Summit
Virginia Council on Economic Education
Every year, the Virginia Jump$tart Coalition holds a free, one-day summit for teachers in Virginia to learn about resources available to support their lesson plans and classrooms. The VBA Education Foundation is a sponsor and exhibitor at this annual event. Nick Haltom, The Federal Reserve Bank of Richmond, welcomed attendees to this year’s Summit.
The Virginia Council on Economic Education (VCEE) hosted three free, week-long institutes over the summer for high school teachers who teach the one-credit course on economics and personal finance. The VBA Education Foundation contributes $50,000 annually to the VCEE Fund for Teaching Excellence which supports these institutes and other workshops throughout the year. Each year at the summer institutes, bankers present the credit portion of the course. This year’s presenters were Allison Daniels, First National Bank, Bobbi Mason, Old Point National Bank, and Cary Ayers, Union Bank & Trust.
22 Virginia Banking | November/December 2017
www.vabankers.org
Move
Bankers on the
Are your bankers on the move? Email submissions to mmcdearmon@vabankers.org.
Cheryl Cook
Sharon Stakes
Tabatha Allard
Kristen Gwaltney
Cynthia Immel
Eboni Lee
Helen Person
Tammy RobinsonWhite
Sherry Shriver
Stephanie Sullivan
Amanda Bowyer
Rich Spiker
Allison Daniels
Jennifer Edgell
Timothy Holt
Teresa Lawrence
Tim Burnett
Mark Farris
Karen Wright
Jacob Hollingsworth
Bank of Clarke County Cheryl Cook - Assistant Vice President, Portfolio Manager Sharon Stakes - Vice President, Loan Operations Officer Benchmark Community Bank Tabatha Allard - Secondary Mortgage Processing Manager Kristen Gwaltney - Compliance Officer Cynthia Immel - Real Estate Loan Processing Manager Eboni Lee - Marketing Officer Helen Person - Vice President, Director of Marketing Tammy Robinson-White - Vice President, Branch Manager Sherry Shriver - Relationship Banker Stephanie Sullivan - Human Resources Officer John Webb - Vice President, Regional Manager Carter Bank & Trust Amanda Bowyer - Assistant Vice President, Community Development Lending Specialist J. Richard “Rich” Spiker - Executive Vice President, Chief Lending Officer First National Bank Allison Daniels - Vice President, Loan Quality Control Officer Jennifer Edgell - Assistant Vice President, Credit Analyst Timothy Holt - Senior Vice President, Chief Credit Officer
John Webb
FVCbank Jennifer Deacon - Executive Vice President, Chief Financial Officer HomeTown Bank Teresa Lawrence - Branch Manager Pinnacle Bankshares Corporation Thomas “Tim” R. Burnett, Jr. - Vice President, Corporate Executive Officer Powell Valley National Bank Mark Farris - Vice President, Commercial Loan Officer Karen Wright - Chief Auditor TowneBank Jacob Hollingsworth - Assistant Vice President, Merchant Services Union Bank & Trust David Ring - Executive Vice President, Commercial Banking Group Executive Union Wealth Management Tom O’Neil - Senior Portfolio Manager Virginia Community Capital Will Martin - Real Estate Loan Officer Wells Fargo & Co. Chris Layne - Vice President, Principal Business Banker
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November/December 2017 | Virginia Banking 23
Same Day. Same Place. Two Events. JANUARY 11 VISIT WWW.VABANKERS.ORG TO REGISTER
STATEWIDE ADVOCACY BREAKFAST EVENT Featuring: Breakfast and Relationship Building with Legislators A Panel of Legislators in Leadership Roles VBA Updates on the 2018 General Assembly Session Ahead Please contact Grace Stephens at gstephens@vabankers.org with questions.
PREMIER ECONOMIC FORECASTING LUNCHEON Featured Speakers: Jim Chessen, Executive Vice President and Chief Economist American Bankers Association Jeff Ricketts, President Anthem Blue Cross & Blue Shield of Virginia Please contact Courtney Fleming at cfleming@vabankers.org with questions.