December 17, 2024

Visit financialedinc.com/webinars for 200+ Bank Webinars.

Bank Compensation Consulting (972) 781-2020bcc-usa.com Bankers Security Inc. (816) 358-0883bankerssecurity.com Community Banker Visa (800) 675-6284www.miba.net/community-banker-visa.html First Bankers’ Banc Securities Inc. (314) 835-4908fbbsinc.com Flat Branch Mortgage Services (314) 808-3918flatbranchhomeloans.com forbinfi (319) 274-8492www.forbinfi.com ICBA (202) 659-8111www.icba.org ICBA Securities (901) 762-5510www.icba.org/icba-securities JMARK Business Solutions Inc. (417) 863-1700www.jmark.com KASASA (512) 418-9590www.kasasa.com Midwest Independent BankersBank (573) 636-9555mibanc.com QwickRate (800) 285-8626www.qwickrate.com/qrweb/XSP/home/home.xsp

We are deeply saddened by the loss of the longtime leader and president of Silex Banking Company, John Lovell.

FCNB Bank is pleased to announce the promotion of Kelly Hohe to the position of assistant vice president and branch and community relations officer. In her new position, Kelly will play a vital role in fostering cohesion across all branches, improving marketing efforts at the branch level and enhancing community involvement to grow deposits, as well as a member of the management committee and marketing committee.

Cybersecurity, regulation, and technology and funding costs are community bankers’ most pressing current concerns, according to an annual survey that covers the economic, regulatory, competitive and operational challenges they face.

Contributors to the MIBA Political Action Committee are recognized for their generosity on the Association’s website and at the MIBA Annual Convention and Exhibition. Different levels of contribution have been set to recognize supporters of our Political Action Committee fund and to make the Association’s membership more aware of this important facet of our work on behalf of the political agenda of community banks across Missouri.

As technology evolves, AI has moved from being a futuristic concept to an essential tool that can improve efficiency, customer service and security. But with these advancements come new considerations for compliance and policy, especially as AI usage grows and regulations catch up. This article will explore current trends in AI, emerging policies and practical applications tailored to community banks.

While we in the financial services sector start thinking about monetary policy in the coming year, there’s a new wrinkle to consider. Many Fed-watchers, rate prognosticators, economists and even investors had been betting on substantially lower rates in 2025 for many months. It looked like the corner had been turned with the 50 basis-point (0.50%) cut to fed funds on Sept. 18. Almost immediately thereafter, persistently strong economic data caused members of the Federal Reserve Board to at least orally tamp down market expectations for aggressive cutting in the near future.

Over the past year, we have seen at least 27 Bank Secrecy Act (BSA) enforcement actions from an array of financial institution supervisory agencies. Banks of all sizes, including community banks, continue to be hit with cease and desist (C&D) orders, formal agreements, consent orders and even civil money penalties (CMP). Five of these actions involved monetary penalties of some sort totaling nearly $4 billion — all but about $109 million coming from one case with four federal agency actions against one bank, and one $100,000 CMP imposed against an individual for BSA noncompliance. These enforcement actions remind us that even community banks and thrifts must have thorough and well-managed BSA compliance programs.

Special Thank You to Our Sponsors and Exhibitors

Recently, financial institutions have been facing large losses as a result of a growing fraud scheme. It is important for institutions to understand this fraud scheme and know how to protect themselves from potential losses.

Special Thank You to Our Sponsors

Our main bank is located in Kahoka, Missouri. Currently our bank has three branches with the other two being located in Wyaconda and Canton, Missouri. Currently our market is competitive, with the main focus being in the agriculture industry.

Digital banking is here to stay, and everything from our online banking to our mobile apps needs to speak to that customer journey. To that point, my community bank recently upgraded our mobile app to offer enhanced product features and a stronger customer experience.

If you’ve ever watched an episode of “Star Trek,” you’ve heard its famous introduction proclaiming we must “boldly go where no man has gone before.” With artificial intelligence (AI), this may be our new reality.