Announcements and News
The ICBSD/ICBND Liquidity Program was tested on February 18th. The following summarizes the results of the test:
Amount requested: No maximum
Time frame: 4 hours
00:15 6 banks pledge total of $1,743,000
00:30 12 banks pledge total of $3,242,000
01:00 19 banks pledge total of $4,939,999
02:00 25 banks pledge total of $6,426,999
03:00 28 banks pledge total of $7,165,999
04:00 30 banks pledge total of $7,663,999
For more information about the program or to register to participate, please visit
http://www.icbsd.com/liquiditynetwork.html.
Member Networks Starting in March
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
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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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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 Feb. 18, the House Taxation Committee passed 14-0 and placed on the bill 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 18, 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 t
he bill has not been assigned to the House Judiciary Committee.
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 the Senate without opposition and is now assigned to the House Commerce Committee where it will be heard February 24th.
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.
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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 details, 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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Business And Accounting Students Gain Career Mentoring Through MMC Alumni Event
Mount Marty College students planning to pursue careers in business and accounting enjoyed firsthand interaction with MMC's engaged network of alumni including
Denis Fokken '73, chief financial officer at First Dakota National Bank.
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FIRST STATE BANK TO MERGE WITH BANKWEST
Two locally-owned, community banks with a shar
ed vision and values recently announced their upcoming merger.
BankWest Chairman, President and CEO Charles H. Burke III and First State Bank Chairman Paul Lewis announced the merger Monday morning in a joint release. First State Bank, which has branches in Armour, Delmont, Geddes and Tripp will become a part of BankWest later this year, pending regulatory approval.
Read More...
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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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Military Lending Act: How to Comply With the Final Rule
The Department of Defense recently released its final rule amending the regulations that implement the Military Lending Act (MLA) - impacting financial institutions.
This webinar will provide financial institutions with an overview of the MLA final rule and offer suggestions on how institutions can prepare for the October initiation date.
Please
register for this complementary webinar by Tuesday, March 15th.
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Small Retirement Plan Challenges, Compliance, and....Audits?
There. We said it. The word 'audit'. Did you know, as a small plan sponsor, you still may be subject to DOL and IRS audits, as well as an annual independent plan audit? Understanding the DOL and IRS regulatory requirements, including how to determine if you qualify for the small plan audit waiver, is half the battle. With a little planning and preparation, you can ensure that you are in compliance with the regulations.
Join us for a sixty minute webinar where we will walk you through the challenges organizations may face, the reasons a small plan may be required to have an audit, and how you can best prepare your organization should the need for an audit arise.
Please
register for this complementary webinar by Friday, March 25th.
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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 |
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Revenue Generating vs Cost-Cutting for Incumbents Using Distributed Ledgers
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George Samman looks at cost-cutting activities versus revenue generating activities for banks and financial services companies when it comes to using distributed ledgers.
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This Security Startup Says Your Convenience
Doesn't Factor
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It would be hard to find two people more qualified to start a security company than Frank Abagnale and Ori Eisen.
Abagnale, the onetime con artist and check forger portrayed by Leonardo DiCaprio in the movie "Catch Me If You Can," has been working with the FBI for the past 40 years to investigate fraudsters and scam artists.
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If Mobile Is 'Everything,' Why Haven't We Seen
More Progress?
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As transformational as mobile has been so far, when it comes to commerce and payments, well, we're still very much making our way to first base.
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Identifying and Nurturing Potential Employees
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On three occasions recently I was reminded of the immense value of personalized and genuine sales and service efforts and wondered how often we miss out on similar opportunities presented every day at our banks.
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2016 State of Financial Marketing
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This 5th-annual analysis of marketing in the financial services industry reveals bank and credit union strategies, priorities and challenges in 2016--data analytics and measurement are behind the times, movement to digital communication is slow and branches continue to be built.
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Federal Reserve Act Signed by President Wilson
The Financial Panic of 1907 prompted Americans to call for a central bank. In response, Congress passed the Federal Reserve Act, which President Wilson signed into law on December 23, 1913. 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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