E-NEWS
March 23, 2016
Congresswoman Noem Stands with ICBSD,  Lawmakers Agree: Exempt Community Banks from Certain Regulations
Congresswoman Noem
Congresswoman Noem

Lawmakers in Washington, D.C., agree that the CFPB should exempt community banks from certain regulations. Last week, a bipartisan group of 329 House lawmakers sent a letter to the Bureau saying just that.

The letter cites a Government Accountability Office study that found financial services offered by community banks have been limited or discontinued due to new Dodd-Frank requirements. Decreased availability of credit to consumers because of unnecessary regulations put on smaller banks is a theme throughout the letter.

This coalition of lawmakers supporting community banks and a right-sized regulatory structure clearly shows there is consensus in Congress to ensure that regulations reflect an institution's size, complexity and overall risk to the financial system. It also illustrates Congress' awareness that consumers need sufficient access to credit, and that can only happen with a diverse ecosystem of financial institutions.

ICBSD thanks the House members and Congresswoman Noem for speaking out by signing this important letter.
Office of the National Ombudsman
Videos from ICBA's National Convention now available
Follow the links below to view the videos on our website
Rebeca Romero Rainey
Jack Hartings
Cam Fine
ICBSD/ICBA Promote 2016 Plan for Prosperity

Regulation is suffocating nearly every aspect of community Plan for Prosperity banking and changing the very nature of the industry away from community investment and community building to paperwork, compliance, and examination. That is why the passage of the 2016 Plan for Prosperity is so important to the community banking industry. 


Regulation must be calibrated to the size, lower-risk profile, and traditional business model of community banks. Not a "one size fits all" approach. The Plan is a set of detailed legislative priorities positioned for advancement in Congress. Four Plan provisions were signed into law in 2015. Highlights of the plan include Basel III Amendments, more accurate identification of "Systemic Risk", additional capital for Small Bank Holding Companies, modernizing the Federal Reserve's Policy Statement, relief from Securities and Exchange Commission Rules, strengthening accountability in bank exams, and reforming bank oversight and examination to better target risk.

ICBSD members can take advantage of the following price breaks!
Exclusive Offers Coupon Code
Save 35% off OptiPlex/Latitude SAVE35%
Save an extra 10% off select XPS & Inspiron PCs SAVE10%PC
Save 40% off select PowerEdge Servers $1,299 & up SAVE40%SERVERS
Save 40% off Dell Precision Workstations SAVE40%WKS 
Save an extra 5% off select Dell electronics & accessories STACK5%
More Information: Place your order through the ICBA/Dell page to receive these discounts!

South Dakota Agricultural Foundation Established

PIERRE - On National Ag Day, the South Dakota Agricultural Foundation announces the establishment of an endowment fund within the South Dakota Community Foundation focused on investing in the future of the industry. Initial foundation partners have committed $1.5 million to this effort over the next five years. They include First Dakota National Bank; Farm Credit Services of America; Dacotah Bank; Valley Queen Cheese Factory; Legend Seeds; farmers, ranchers and other individual donors.

"We are very excited to be a part of a coalition of private sector stakeholders that is leading a new effort to encourage investment in the future of agriculture in our state," says Nate Franzen, president of the Agri- Business Division of First Dakota National Bank. "Ag producers, business leaders and industry stakeholders have come together to create a relevant and proactive force for change in South Dakota agriculture."
ICBSD endorsed provider, ICBA Securities, and its exclusively-endorsed broker, Vining Sparks, will present a webinar on March 29. This is the first in the 2016 webinar series. 


Dan Stimpson Senior Vice President Vining Sparks
Dan Stimpson Senior Vice President Vining Sparks
Community banks have relied on Vining Sparks' proprietary Performance Profile for over 25 years to help them identify needs and opportunities for their investment portfolios. Vining Sparks recently released a new version of the Profile, which contains numerous upgrades. We will walk the participants through the Profile and describe the changes that make the document more useful and customized than previous versions.

What You'll Learn:
* How the Economic Outlook can affect your decision making
* Using cash flow reports to identify appropriate strategies
* The strengths and weaknesses of the overall balance sheet
* Reading sector-level detail that can be helpful in diversifying the portfolio
* How to interpret generic and specific peer group data

The webinar will last approximately 1 hour.  

View this link to register
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 25. 
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 -
Community Bankers Webinar Network Courses 
SBS Institute Certifications
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

May 2016
May 2 - CBSM, Certified Banking Security Manager

May 16 - CBIH, Certified Banking Incident Handler

Fed's Lacker says Latest Reading on Inflation
Firmer Than Expected    
The latest reading of inflation in the U.S. was firmer than expected, bolstering confidence that inflation will return to the U.S. central bank's two percent target.    
The Future of Banking: Racing for Relevancy
in the Digital Age      
Financial institutions that cannot keep up with the pace of change today will find their customers have moved on without them--stranded on the wrong side of the digital divide, from which there will be no return.  
American Banker        
Visa, Fed Execs Shine a Light into Data
Security's Weakest 'Seams'    
Financial services companies and others are building up their defenses against mounting cyberattacks, but they need to sharpen their focus on where systems connect. 
Bank Lawyer's Blog      
Regulatory Abuse: Let's Make it More Transparent      
Last week's release of a report by the FDIC Inspector General outlined the allegedly thug-like behavior of some FDIC lawyer's and supervisory personnel against banks.  
Apple Pay's Big Drop     
About 18 months ago, Apple Pay awakened the world to the possibilities and potential of using a mobile phone as a replacement for a plastic card at the physical point of sale. 
Some Banks Offer Digital Appointment Booking,
but it's Rare     
If a customer wants a haircut, chances are that individual can go online and schedule an appointment at a local salon. But if the same person wanted to schedule online a convenient time to sit down with a banker to discuss a loan, that customer likely can't do the same.    
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Banking Fun Facts

Is U.S. Currency Still Backed by Gold?

Federal Reserve notes are not redeemable in gold, silver, or any other commodity.

Federal Reserve notes have not been redeemable in gold since January 30, 1934. Read more here.
Register Now for the Washington Policy Conference
SBS Institute
2016 Series - 6 for the price of 5
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.