Announcements and News
Do you want to learn more about the Member Networks?
Join us for a short fifteen minute Q&A session with Greg McCurry from the ICBSD and Networks facilitator, Karl Nelson, from KPN Consulting.
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New Dell Discounts
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ICBSD members can take advantage of the following price breaks!
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Exclusive Offers
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Coupon Code
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Save 35% off OptiPlex/Latitude
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SAVE35%
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Save an extra 10% off select XPS & Inspiron PCs
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SAVE10%PC
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Save 40% off select PowerEdge Servers $1,299 & up
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SAVE40%SERVERS
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Save 40% off Dell Precision Workstations
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SAVE40%WKS
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Save an extra 5% off select Dell electronics & accessories
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STACK5%
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More Information
: Place your order through the ICBA/Dell page to receive these discounts!
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2016 Legislative Session Notes
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This week we have provided an update on the banking related bills we are monitoring. (View more information provided by the SD LRC by following the links provided)
Community Bank Related Bills
This bill was first read in House on 1/27/2016 and referred to House Commerce and Energy.
HB1126 is at the request of private equity groups. If passed, the bill will exempt from them from needing to obtain a money lending license for activities related to lending.
The specific exemptions within the bill are:
If this bill passes, the firms would be exempt from franchise tax on income from lending activities.
Historically, community bankers have not been in favor of any other entity engaged in banking activities and not having to comply with the same taxes and regulations.
The ICBSD Board of Directors is currently discussing this bill and formulating our association's position.
Referred to House Commerce Committee, though not yet scheduled. (Members-Beal, Harrision, Hawley, Kirschman, A. Novstrup, Rounds- Chair, Schoenbeck- Vice Chair, Stalzer, Steinhauer, Wiik, Willadsen, Wollman, Zikmund)
- This bill would reduce the penalty for unauthorized credit card use from a Class 6 felony to a Class 1 misdemeanor if the theft is less than $1,000
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The House Judiciary Committee deferred the bill to the 41st day on an 8-2 vote
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Proposes to clarify the filing process for banks in the event the taxes due the state of SD increase or decrease as a result of an audit or adjustment of federal taxable income by the IRS
- Bill passed out of committee and has been placed on the Senate consent calendar where it passed. The bill has now been referred to House Taxation
- Technical changes to the bank franchise law
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Passed out of Committee on a 7-0 vote. Amendments passed by a slim margin of 4-3 the amendments offered a few changes to the bill, the mandatory electronic filing provision was removed as well as the Department of Revenues repeal of graduated rates on income above $400 million. The Senate passed as amended 34-0. The bill has been assigned to the House Taxation Committee
- Codifies current industry practice recognizing electronic signatures on contracts
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The bill passed the Senate without opposition and is now assigned to the House Commerce Committee
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IBC will continue to monitor the bill and the Governor's Task Force
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HB 1039 passed the House of Representatives unopposed and was referred to Senate State Affairs where it also passed unopposed and was places on the consent calendar
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This is an annual bill used to update South Dakota tax code, it passed both chambers with no dissenting votes and has been signed by the Speaker
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We will be attending hearings as
necessary
to make sure the community banking
voice is being heard.
As your voice for community banks, please do not hesitate to contact us if you have concerns about any of the bills we are monitoring or another bill currently before the legislature.
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Who are Your Legislators?
You can use this site to find your legislators based on city, county, or district. If you need more detail, you can use the interactive district map to zoom into your street and find your district.
Look up your Legislators Here
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A bank based in Wessington Springs and chartered in 1892 is expanding to Sioux Falls.
Check out this story on argusleader.com:
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Employees of BankWest in Pierre volunteered with Feeding South Dakota's Senior Box program. Thanks to BankWest's efforts, 1,200 seniors across central South Dakota will have better access to food!
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Send us your bank news, events and job openings!
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Associate Member News and Events
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New Rules Change the Type and
Amount of HMDA
Data Financial Institutions Report
The changes modify which financial institutions have to report HMDA information and the type of transactions that are reportable.
Read More...
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Open Position...
United Bankers Bank
Vice President of Lending, South Dakota
United Bankers' Bank (UBB), headquartered in Minnesota, has an opportunity for a motivated VP of Lending. This individual will be based in Sioux Falls. UBB is a successful and growing bankers' bank that supports community banks in the Midwest and Pacific Northwest. Our motto, "First, for Your Success" reflects the importance UBB places on helping customers and employees succeed.
The VP of Lending's objective is to engage in ongoing discussion with client banks in order to obtain the opportunity to assist them with over-line and bank stock loan requests. They will contribute significantly to department and bank objectives of excellent credit quality, excellent customer service and outstanding returns to shareholders.
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Commercial Loan Officer
Our client, Pioneer Bank & Trust located in Rapid City, SD. is seeking a highly motivated individual to join its lending team in the position of a Commercial Loan Officer. The successful applicant will be responsible for developing, servicing and retaining profitable customer relationships.
Qualifications include a bachelor's degree in accounting, finance or business. The individual must demonstrate strong communication and leadership skills and be committed to participate in and promote community activities. A minimum of 5 years of experience as a commercial lending officer is preferred.
Pioneer Bank & Trust is a locally owned, totally independent community bank that has been serving the banking needs of Western, SD since 1913 and offers a comprehensive compensation and benefits package. Pioneer Bank & Trust is proud to be an affirmative action/equal opportunity employer. EOE AA M/F/Vet/Disability
To apply, please visit -
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Send us your news, events and job openings!
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| Upcoming Community Bankers Webinar Network Courses |
| SBS Institute Certifications |
February 2016
March 2016
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Community Banker Leaves Sons a Tech Legacy,
Not Legacy Tech
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Dan Bolen, the chairman of Bank of Prairie Village in Kansas, can boast about something increasingly rare at community banks these days: children prepared to carry on the family business.
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CECL: The 'Blind' Leading the Blurry?
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The Painstaking regulatory and reporting burden that has plagued consumer and mortgage lending for decades is coming to the world of commercial lending fast.
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Banking vs. Fintech: A Business Case for 'Coopetition'
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In an increasingly digital banking environment, there is increasing validation for 'coopetition,' with fintech firms partnering with legacy banking organizations.
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Five Key Trends Driving Adoption of Biometrics
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Goode Intelligence, in its Biometrics for Financial Services analyst report series, has identified five key trends that are driving the adoption of biometrics for financial services and creating a market that shall be worth over $11 billion by 2020.
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Five Payment Trends for 2016
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Payment trends in 2016 will include accelerated competition in mobile wallets, more experimentation with blockchain technology, and progress in faster payments.
*Note: You can access this article by creating your free account.
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ATM Fraud Arrests: A Red Flag for Merchants
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The arrests this week of seven men allegedly linked to a skimming operation that targeted ATMs at retailers, including hotels and gas stations, is yet another indicator that U.S. merchants need to beef up the security of these devices.
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Nancy H. Teeters
Nancy H. Teeters joined the Board of Governors of the Federal Reserve System on September 18, 1978 and served until June 27, 1984. She was the first woman to serve on the Board of Governors. Read more here.
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2016 Series - 6 for the price of 5
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What's happening at your bank? Events? Promotions? New hires? Retirements? Awards? Community projects? Charitable activities?
Contact Summer at [email protected]. If you don't have time to write an article, send a description of what happened, and we'll put it together for you. |
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