Pub. 1 2021 Issue 5

October Fri., Oct. 1510:00 a.m. – 11:30 a.m.Required Compliance for Commercial Loans Secured by Real Estate Tues., Oct. 192:00 p.m. – 3:30 p.m.Job-Specific BSA Series: Job-Specific BSA Training for Senior Management & Director Wed., Oct. 202:00 p.m. – 3:30 p.m.Top 10 IRA Rollover Mistakes   Thurs., Oct. 212:00 p.m. – 3:30 p.m.Reg E Investigation & Requirements for Debit […]

The Federal Reserve recently unveiled a tool to help small community banks – those with less than $1 billion in assets – comply with a new accounting standard they are required to implement by 2023. The standard is the current expected credit loss (CECL) methodology for setting banks’ loan loss allowances, and the tool is called SCALE, the Scaled CECL Allowance for Losses Estimator.

To view the convention photo gallery, please visit miba.net/annual-convention.html. 

To view the convention photo gallery, please visit miba.net/annual-convention.html. 

Thanks to all those who attended the MIBA 44th Annual Convention held Sept. 13-15, 2021, in Lake Ozark, MO. Attendees met in person and had a great time networking, golfing, and enjoying great food! Thank you to all of our exhibitors and those that donated to the 31st Annual Scholarship Auction. We hope to see you at our next event.

Contrary to a multitude of reports, not all community banks are awash in cash in 2021. A number of ICBA member banks have been able to grow their loan pipelines, or at least maintain their cash positions – which remain annoyingly unprofitable – at manageable levels. Perhaps the avalanche of cash flows from the bond portfolio is past its peak, too, since mortgage rates have moderated somewhat in recent months.

Thanks to all who attended the Leadership Division Conference September 15-16. We had a great time learning, connecting with colleagues, and investing in the future of community banking. We hope you will join us next time. For more information on upcoming events, please visit web.miba.net/events.

First Community National Bank is pleased to announce the following employee promotions: Peggy Alexander was promoted to Assistant Operations Manager at First Community National Bank, headquartered in Steelville. Ms. Alexander joined FCNB in December 2005 and serves as Vice President, Elite Banking Manager and Loan Officer at the Steelville Financial Center. Nathan Booker was promoted to

Where are your main bank and branches located? Do you target a specific market?
The original bank in Wyaconda, Missouri, is still in operation today. The main bank is in Kahoka, and we also have a branch in Canton. We are in an Ag-heavy market in Northeast Missouri.

The announcement in March by Senator Roy Blunt that he would not seek another term in the U.S. Senate has created a high-stakes game of political musical chairs. It seems just about every sitting congressman/woman believes they have what it takes to be our next U.S. Senator. Only Ann Wagner and Blaine Luetkemeyer have ruled out a run.