E-NEWS
March 2, 2016
Announcements and News
 
ICBSD Heads to New Orleans
Forty community bankers from South Dakota will be traveling to New Orleans for this year's ICBA Community Banking LIVE Convention.  Highlights of this year's convention will include:
  • TONY LA RUSSA, Former Major League Baseball Player and Manager, Chief Baseball Officer for the Arizona Diamondbacks
  • JOSH LINKNER, Four-time tech entrepreneur and hyper-growth CEO, NY Times bestselling author & venture capitalist, Keynote speaker on a mission to drive creativity, innovation, and reinvention
  • JOHN STOSSEL, Emmy Award-Winning Journalist, Host and Commentator, Fox Business Network and Former ABC News Correspondent and Co-Anchor of 20/20
Also at this year's convention attendees will have the opportunity to learn through a wide variety of workshop tracks that include:
  • "C-SUITE" MANAGEMENT
  • COMPLIANCE & RISK MANAGEMENT
  • INDIVIDUAL GROWTH & PROFESSIONAL DEVELOPMENT
  • LEADERSHIP & CORPORATE DEVELOPMENT
  • LENDING
  • REGULATIONS & EXAMS
  • REVENUE & GROWTH
  • TECHNOLOGY FOR YOUR BANK
  • YOUR BRAND & SOCIAL MEDIA
Follow the ICBSD on Social Media to view pictures and updates throughout the convention.  
 
     Like us on Facebook     Follow us on Twitter  @ICBSouthDakota View our profile on LinkedIn

Member Networks Starting in March
If you missed our live Q&A Sessions, please visit www.icbsd.com/networks to view a recording.   
Network Membership Fee
$750 Network Membership
$500 for each additional registration
* Discount code will be emailed immediately following your first network registration
$250 Leadership Network Fee
*  Discount code for a free Leadership Network registration will be emailed immediately following your first network registration
View more information at www.icbsd.com/networks
New Dell Discounts
ICBSD members can take advantage of the following price breaks!
Exclusive Offers
Coupon Code
Save 35% off OptiPlex/Latitude
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Save an extra 10% off select XPS & Inspiron PCs
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Save 40% off select PowerEdge Servers $1,299 & up
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Save 40% off Dell Precision Workstations
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Save an extra 5% off select Dell electronics & accessories
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More Information: Place your order through the ICBA/Dell page to receive these discounts!

2016 Legislative Session Notes
Bill was amended in the House and has passed the chamber without dissent. It has been referred to Senate Judiciary.

Section 5 (listed below) provides protections for mortgage and lien holders. However, we have some concerns about the language of "factually innocent" and the ramification for community banks. We will be attending the hearing to monitor and provide testimony as needed.

Section 5. That the code be amended by adding a NEW SECTION to read: 11 No forfeiture or disposition under this Act affects the rights of a factually innocent person. 12 A mortgage, lien, privilege, other security interest, or joint ownership interest is not affected by 13 a forfeiture under this Act if the owner of the mortgage, lien, privilege, other security interest, 14 or joint owner establishes that the owner is a factually innocent person.

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 them from needing to obtain a money lending license for activities related to lending.

The ICBSD Board of Directors opposed this bill.

On February 17th, the Commerce Committee tabled the bill on a 10-2 vote.

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. 

The House Judiciary Committee deferred  the bill to the 41st day on an 8-2 vote. 

SB52 -  Establish procedures for reporting federal tax changes for purposes of bank franchise tax
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.  On February 18th, the House Taxation Committee passed the bill 14-0 and placed it on the consent calendar.

SB53 -  Revise certain provisions concerning the bank franchise tax
This bill proposes technical changes to the bank franchise law.

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.
On February 18th, the House Taxation Committee passed the bill 14-0.    

SB54 Adopt Elder Abuse Task Forces statutory recommendations
Collaborative effort led by the Supreme Court Justices, supporters included the Governor's Office, Attorney General's Office, State Bar, AARP, SD Health Care Alliance, and Family Heritage Alliance.

Scheduled for hearing by the Senate Judiciary Committee passed 6-0. The full Senate passed 35-0 and the House Judiciary Committee amended the bill twice prior to passing 11-0. First to include a notary as an option to witness and then by inserting: "unless the court finds good cause for the additional continuance and:
(1) The parties stipulate to an additional continuance (2) The court finds that law enforcement is unable to locate the respondent for purposes of service of the ex parte protection order".

SB57 -  Redefine the term written agreement relating to contracts between a debtor and creditor
Codifies current industry practice recognizing electronic signatures on contracts.

The bill passed both chambers without opposition and has been signed by the President.

IBC will continue to monitor the bill and the Governor's Task Force. 
 
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. The bill has been signed by both the Speaker and President of the respective chambers. 
The bill was signed by the Governor on February 19th.

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, the President and delivered to the Governor. He signed the bill February 16th.

HB1086 -  Create a leased residential property classification
Creates a new category of property tax for assessment purposes by differentiating multi-housing from commercial property.
 
House Taxation passed 12-3 amended.  The full House did not pass the bill 28-39 and also failed to reconsider.
ICBSD Lobbyist Dean Krogman
Cell: 605-695-3497
Email: 
dkrogman@sdma.org

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.
Who are Your Legislators? 

You can use this site to find your legislators based on city, county, or district. If you need more details, you can use the interactive district map to zoom into your street and find your district.

Look up your Legislators Here
Bank Member News
Dacotah Bank Reorganizes with Growth in Mind 

Dacotah Bank has a new regional management structure it says positions the company for its next stage of growth.

The roles of the four regional presidents have expanded to include additional oversight and strategic guidance of their respective geographical regions.
Send us your bank news, events and job openings!
Contact Summer at  sgeraets@icbsd.com .
Associate Member News and Events
Upcoming SBA 7(a) Loan Guaranty Origination Webinar

The South Dakota District Office will be offering a  Webinar series on SBA related programs to assist in the origination and servicin of SBA loan products and will be scheduled for the 2nd Wednesday of each month at 10:00 a.m. Central Time. (Dates Subject to Change)

Loan Origination Training - Completing SBA Forms 1919 and 1920 - on Wednesday, March 9, 2016 at 10:00 a.m. Central Time

Loan Origination Training - Credit Memorandum Requirements - on Wednesday, April 13, 2016 at 10:00 a.m. Central Time

Login Information: 
Website: https://www.connectmeeting.att.com. On the website enter 888-844-9904 as the meeting number and 2774945 as the code. Telephone: (888) 844-9904 with access code 2774945.
Ohio, Minnesota Bankers' Banks Announce Agreement to Merge

Bloomington, MN and Worthington, OH - Officers representing the holding companies of Minnesota-based United Bankers' Bank (UBB) and Ohio-based Great Lakes Bankers Bank (GLBB) announced today that they have signed a definitive merger agreement.

The merger of the two holding companies - United Bankers' Bancorporation, Inc. (UBBI), Bloomington, Minn., and Bankers Bancshares, Inc. (BBI), Worthington, Ohio,  -  along with their banks and respective subsidiaries, will provide enhanced correspondent products and services to community banks throughout Ohio and Michigan, according to those familiar with the agreement. 
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 -
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.
Send us your news, events and job openings!
Contact Summer at  sgeraets@icbsd.com .
ICBSD Events
ICBA Events

ICBA National Convention March 6-10, 2016

ICBA Washington Policy Summit- April 24-27, 2016

Upcoming Community Bankers Webinar Network Courses 
SBS Institute Certifications
March 2016


April 2016
April 4 - CBSTP, Certified Banking Security Technology Professional

April 11 - CBEH, Certified Banking Ethical Hacker

April 18 - CBVA, Certified Banking Vulnerability Assessor

April 18 - CBMA, Certified Banking Mobile Administrator

From the Web
How Would Banks Handle a Trump Nomination?   
The advent of Donald Trump as the front-runner for the Republican presidential nomination is forcing banks to take a harder look at the New York businessman and what he might mean for the industry if he wins the White House.   
False Promise    
Former FDIC Chairman Bill Isaac once called Franken Dodd "the worst piece of financial legislation in modern history" and blasted the law's "Durban amendment," in particular, as "pure and simple, special-interest politics." 
American Banker      
The Biggest Cyberthreat to Your Bank Might Be
Sitting Next to You   
In the battle against cybercrime, investing in people is just as important as investing in technology.
Director Compensation: Consider Adopting These Big Company Practices at Your Bank    
The evolution of pay and governance practices tends to be led by large companies--organizations that are under the watchful eyes of institutional shareholders, proxy advisors, and the media. 
Risk Based Authentication: It's a Team Effort     
The evolution of pay and governance practices tends to be led by large companies--organizations that are under the watchful eyes of institutional shareholders, proxy advisors, and the media. 
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Banking Fun Facts

Federal Reserve's Role During WWI

The Federal Reserve facilitated the sale of Liberty bonds during World War I and marketed bonds to member banks and the general public. Read more here.  
SBS Institute
2016 Series - 6 for the price of 5
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What's New?
What's happening at your bank? Events? Promotions? New hires? Retirements? Awards? Community projects? Charitable activities?

Contact Summer at sgeraets@icbsd.com. If you don't have time to write an article, send a description of what happened, and we'll put it together for you.