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IN PRINT
June 2019 • Volume 4 • Number 6
The Art of Planning Joins People with Purpose
S t o r y, Pa g e 6
2019 Great Lakes Lenders Conference, Page 10
Inclusion in a Cashless Society, Page 22
CECL: The Unpaved Road Ahead, Page 30
Crafting a Strong Change Narrative, Page 40
Anti-Fraud in the Age of Digital Banking, Page 52
and so much more...
The Publisher’s Page 4
Industry News 12
The people, places, names, and
faces of the region’s bankers
Community Action 24
Banks and their involvement and action in
the communities they serve
Banking Technology 28
Cover Story: Planning is a 6 New systems and products to help you
Collaborative Activity better serve your customers and your
By: John Benjamin bottom line
2019 Great Lakes Lenders 10
Conference The Business of Banking 32
By: Hanna Burmeister Business developments of the region’s
bankers
How To Include Unbanked & 22
Underbanked Populations in
“Cashless” Societies Association News 42
By: Stephen Harkey The latest from both national and
regional bank associations
CECL: The Unpaved Road Ahead 30
By Tony Hodson
Banking Financial News 54
How to Craft a Strong Change 40 Financial news from banks around the
Narrative for Your Company Great Lakes region
By: Mark Angott
Anti-Fraud in the Age of Digital 52 Around the World 60
Banking Banking Developments from the U.S.A.
By: Brad Kvederis and Abroad
Great Lakes Banker (ISSN: 1044-1949) is published monthly by Michigan Banker LLC, 1430 E. Michigan Ave, Lansing MI 48912. It is edited exclusively for the
presidents, CEOs, directors, and other officers and staff members of the banks and bank suppliers serving the Great Lakes region. The one-year subscription price
is $97.50. Address all correspondence to Great Lakes Banker, c/o Michigan Banker LLC, PO Box 12236, Lansing MI 48901-2236. Periodicals postage pending or
paid at Lansing MI and at additional mailing offices. POSTMASTER: Please send address changes to Great Lakes Banker, PO Box 12236, Lansing MI 48901-2236.
Greg O’Neil, CEO.
Great Lakes Banker • June 2019 3
June 2019
A Grand 133 Year-Old Tradition... Great Lakes BANKER is a monthly news
magazine that is devoted to the region’s
Mackinac Island was the place to be on June 18th through the 21st. commercial banking industry and to the firms
This was the site of the 133rd Michigan Bankers Association Annual that function as suppliers to the banking
Convention which was held at the historic Grand Hotel. What a industry of the Great Lakes. We also publish an
annual banking snapshots and trends issue in
pleasure it was to see everyone at the convention! We are pleased as September, which looks back to last year and
always to present our convention photos for you on page 50 - 51, so forward to the upcoming year anticipating
check them out. This was the third convention we have attended this changes in the region’s banking industry.
year, and we plan on attending many more. We accept display advertising on behalf of
firms who recognize the region’s banking
Why? industry as being comprised of valuable
business prospects.
Because events like the MBA Convention are important. Besides helping
us grow, the conventions are a chance for Great Lakes bankers to come Great Lakes BANKER focuses primarily on the
together as friends rather than rivals, for the attendees to learn and commercial banking community in the Great
Lakes region. Great Lakes BANKER is edited for
grow in their field, and for everyone to see the latest and greatest in the directors, presidents, CEOs, and employees
products and services for the industry. That is why we cover them, and of the region’s commercial banks, and for the
that is why it is important for you to be there. supplier firms that provide goods and services
to that industry.
We recently received a letter of encouragement:
We publish a variety of by-lined columns
authored by individuals considered to be
Dear Greg, knowledgeable in their respective fields of
endeavor and who have a valuable message
The cover of your latest edition is incredible! Well done! to share with the Great Lakes region’s banking
community. Opinions in these columns,
We’re looking forward to having you and Margaret at our 133rd however, are those of the authors and do not
Annual Convention this week. necessarily represent the opinions of the staff
members of Great Lakes BANKER Magazine.
Safe travels up!
Sincerely,
T. Rann Paynter, MBA President and CEO
Thank you Rann for your kind words and support! We appreciate
it and, we want to remind all of our readers that we welcome all
Published by Michigan Banker LLC Printed &
comments, good, bad, and ugly. Please send these comments to greg@ Mailed by BRD Printing Inc. Lansing, MI
mybankermag.com.
Copyright ©2010 ISSN 1044-1949.
This issue is also packed with stories important to the Great Lakes
Address all correspondence, change of
banking community from New York to Minnesota, the nation and
address, suggestions, and story ideas to:
around the globe along with our regular departments.
Great Lakes BANKER
Sincerely, P.O. Box 12236
Lansing, MI 48901-2236
Tel: 800.288.4248 ext. 10;
517.484.0775
FAX: 517.484.4676
Great Lakes BANKER Online:
mybankermag.com
Greg O’Neil, Owner and Publisher, Great Lakes Banker
EMAIL US:
GREG O’NEIL - greg@mybankermag.com
EDITOR - editor@mybankermag.com
4 Great Lakes Banker • June 2019
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Planning is a Collaborative Activity
By John Benjamin
or almost 50 years, Plansmith has helped banks and planning. Understandably, it’s like telling someone who
credit unions become better organizations through wants to lose weight to diet and exercise. Everyone will
improved planning. Specifically, by helping them roll their eyes at this and yet, individuals constantly plan
take the stress out of budgeting and risk management. in their daily lives. People anticipate and adapt to what’s
With a unique combination of software and advisory in front of them without even thinking about it. Walking
service offerings, Plansmith provides financial institutions across the living room, driving to the store, and taking
with easier, more accurate budgeting, asset-liability a trip are just some simple examples. Why shouldn’t
management, strategic planning – and most recently, business life be the same? As the saying goes, “luck is the
CECL. During this time there has been one constant – intersection of preparation and opportunity.” Change
change – and the rate of it is only increasing. presents the opportunity. Planning is the playbook for
preparation.
There are two levels of planning: strategic and
tactical. Strategic planning is not just the long view. It
also includes a statement of the business purpose, vision
for the future, and an understanding of the market
for products and services. Business purpose articulates
the reason for being and how the organization will be
different. The vision specifies a long-range goal, not just
financial but how to relate to the specified audience.
While this audience may change, the organization’s
relevance to it shouldn’t. A periodic assessment of the
In the 1970s, there were over 16,000 banks and demographics and the competition is essential. For
13,000 credit unions in the United States. That number example, a car company with a vision to be the best
has fallen to around 5,000 banks and 6,000 credit personal transportation company will adapt by moving to
unions. The environments they serve and the ways electric from gas or from sedans to SUV without changing
in which they serve have also changed. Technology, their purpose or vision. New markets for products and the
consumer attitudes, market demographics, regulations, opportunity for new products in the market is another
competition, and products have all had an impact. way to adapt. Within this context, it’s essential to review
internal factors (strengths and weaknesses) and external
Most budgets Plansmith sees are
purely financial forecasts and
expense targets that lack specific
tactical support components.
The only option for managing in the midst of this
disruption is to adapt to new realities. Those who embrace
change will adapt, use it to their advantage, and win.
How do banks and credit unions adapt? Through better
6 Great Lakes Banker • June 2019
30 YEARS IN PRINT
factors (opportunities and threats) that will shape actions. competencies, systems, facilities and locations. In other
Again, this is a formal way of explaining what individuals words, which organizational capabilities are needed to
do daily. Take driving, for example: awareness of the build to best serve customers in a differentiated and
internal weakness (gas level and the range left to go) and valuable way? The right personnel and culture must be
the external (weather and traffic conditions). In this case, organized to deliver customer value and execute the
one might plan to stop for gas or take a different route. plan effectively. When these elements are aligned, the
organization is best positioned to meet the challenge of
Tactically, the playbook contains the actions needed to a changing environment.
reach an objective along with the assigned responsibilities,
timetables, and expected results. Currently, budgeting is The only way to manage in a changing environment
a rudimentary example of the lack of specificity. Most is to implement a complete planning process that links
budgets Plansmith sees are purely financial forecasts strategies and tactics, supported by analysis and a
and expense targets that lack specific tactical support constant review of the future. Otherwise, the financial
components. institution will bump along and fail due to lack of
relevance.
Current financial institution budgeting practices have
many flaws. The budget is too often presented in the That said, with the help of ever-improving technology,
form of future financial statements. Furthermore, these including planning software, an organization can stay
statements are not supported by the initiatives required ahead of the curve and succeed.
to accomplish said goals. It is also often momentum
based; the past trend predicts the future, so if nothing is Who in the institution should be using planning
changing, then this is what to expect. Also, the budget is software? It might be surprising as to how many areas/
exactly that: a means of controlling expenses. The income departments and their respective managers should
forecast is more or less a guess and is a framework for actively use and benefit from an automated planning
expense limits. system.
What are the various functional areas and departments
that should be actively involved in planning?
• The Asset Liability Committee (ALCO)
• Investments/Funds Management
• The CFO
• Branch/Department Managers
• The Marketing Department
• CEOs and Directors
The ALCO:
A complete and more effective planning process Responsible for the measurement of interest rate
connects strategies with tactics to generate a desired risk inherent in the balance sheet, determining
performance level. Supporting both are a market analysis the appropriate actions to control that risk, and
and assessment of available resources both intended to maximizing return.
achieve short and long-term successes. There are three Involvement in the planning process is natural
key areas that need to be considered to yield these results: for the ALCO because of the data capture needed for
customer-facing requirements, internal capabilities, and rate sensitivity analysis, including rate shock of margin,
personnel. market value calculation, and shock simulation. Plansmith
Customer-facing requirements are derived from an strongly suggests that the ALCO bring their model into
understanding of the organization’s Opportunities and the meeting to interactively discuss and immediately test
Threats in the markets served. This entails understanding ideas with measurable results. These tactics should also
customers’ needs and the competition so the organization be documented allowing the ALCO to emerge with an
knows where to play and how to win. Internal capabilities action plan at the meeting’s conclusion.
come from a Strengths and Weakness analysis of core
Great Lakes Banker • June 2019 7
Investment/Funds Management Department: important for branch managers to communicate
Responsible for controlling interest rate risk, objectives and make course adjustments throughout the
providing liquidity, and optimizing total return on year.
the investment portfolio. The Marketing Department:
This department can benefit from reports that feature Responsible for developing effective strategies to
Total Return, Duration, and Market Value confidently compete for gathering of funds and making loans.
because of the model’s ability to simulate various
instruments the institution currently has, as well as those The marketing manager is often overlooked in the
it is considering in the future. Models should be used planning process. Yet, they are a key contributor to how -
by the investment officer to compare portfolio strategies and how much - of the company’s resources will be used
and measure risk today, or future parallel or non-parallel to pursue a strategy. New product development, pricing,
yield curve shifts. anticipated growth, imbedded customer options, fees,
and promotional cost are all part of a full simulation. The
marketing department ultimately chooses the strategy
A planning system doesn’t just that optimizes the combination of growth and earnings.
provided conclusions in the form
The CEO and Board of Directors:
Responsible for providing direction and leadership,
of numbers. It should also be
setting policy, determining goals and monitoring
progress.
used to support those decisions A planning model has to assist management
with determining corporate strategies to obtain goals
numerically and verbally in an
agreed upon by the board of directors. Consolidated
information regarding the organization’s current status,
as well as its potential long-term direction, must be easily
action plan. conveyed across a diverse group of individuals. Senior
management must have the capability to easily drill
The CFO: down and investigate strengths and weaknesses within
the plan.
Responsible for preparing annual budgets and
profit plans, and consolidating information for the At least one planning
financial statements to the President/CEO and the system should be used
Board of Directors. throughout an organization
to test ideas then document
A planning system should easily update with current desired changes and
financial information including balances, income and anticipated reactions. Testing
expense data, yields/costs, and maturity data from the in a protected environment
loan, deposit, and investment areas of the company. This allows the organization to
becomes the platform for accurate performance tracking abandon ideas that don’t
that allows for testing what-ifs and re-forecasting based pan out, and put time and
on existing challenges. effort into those that appear
Branch/Department Managers: promising. A planning Craig D. Hartman
system doesn’t just provided Chairman & CEO
Responsible for executing tactics outlined in the conclusions in the form of Plansmith
marketing plan for acquiring and allocating financial numbers. It should also be
resources at an acceptable level of operating used to support those decisions numerically and verbally
expense. in an action plan. The planning model then becomes
Branch managers should utilize reports that indicate a true decision-support tool - one that measures and
the budget/plan for the year and the organization’s action communicates goals throughout the organization.
plan to execute this strategy. Performance tracking is
8 Great Lakes Banker • June 2019
Colliers International
The firm of choice in the real estate industry.
eal estate valuations play a pivotal role in today’s business Colliers is the only national valuation group that is approved for
climate; an accurate and well-support- internal review work by the FDIC
ed opinion of property value is imperative We count more than 100 banks and credit unions as
in reaching critical goals such as securing clients and have reporting levels ranging rom desk-
a loan, closing a sale, reporting to investors and top evaluations, to reviews, to full self-contained
choosing the best asset. reports
Colliers International Group Inc. is a global real For example, an auto parts company was working
estate services and investment management com- with one of our bank clients and had a parcel under
pany with more than 14,000 professionals operat- contract and was about to begin construction. They
ing in 68 countries. Colliers Valuation & Advisory called on Colliers to value its real estate after com-
Services’ reports are designed to deliver insight into pletion of grow improvements, and we were able to
a property’s fundamentals, its competition and the help them benefit from an Industrial Facilities Tax
overall market dynamics that affect value. When Credit, which allows the owner to keep property
addressing both a property’s unique characteristics taxes fixed at the before-renovation rate for 15 years.
and the most current market conditions, a solid val- The company needed to apply for the tax credit be-
uation report can be a strategic asset for investors, fore breaking ground on construction. Colliers as-
lenders and owners. sisted the owner in securing the tax credit without
Colliers’ commitment to high-end client service, David Abraham MAI SRA holding up the project, saving the operator more
coupled with unparalleled market intelligence and resources, dif- than $1.5 million in property taxes over 15 years.
ferentiates us as the firm of choice in the real estate industry. Man- With experience you can trust, the Colliers team shares a com-
aging Director David Abraham, MAI SRA, has a background in mitment to delivering the highest level of service and consistent re-
finance, development, construction and valuation, and he has been sults, going the extra mile to meet tight deadlines or working with
helping clients in the real estate and business consulting field for a complex and challenging property.
more than 30 years.
He heads the SBA Valuation Team at Colliers and is experienced For more, visit: www2.colliers.com/en/Experts/David-Abraham, or
in the valuation of business interests, going-concerns, industrial, call 734.674.9505. Colliers International is located at 2 Corporate Drive,
multifamily, and hotels to name a few. Suite 300 Southfield, Michigan 48076.
2019 Great Lakes Lenders Conference
By Hanna Burmeister Conference are aligned with the mission and vision of
the SBDC.
Lenders play a critical role in advancing the small
business economy. The Great Lakes Lenders Conference Lenders, credit analysts, and underwriters are
(GLLC) was organized over 20 years ago to ensure lenders integral to the growth of small businesses in the Great
knew how to leverage SBA related loan programs, and Lakes region. By providing the capital necessary for
has since grown into the premier small business lending an entrepreneur to launch a new endeavor, grow and
event in the Midwest. transition, they empower the innovation that is necessary
to be competitive in the future. The Great Lakes Lenders
The first annual conference was hosted in 1998 at a Conference provides sessions hosted by industry leaders
Holiday Inn in Lansing. That year, the conference featured to develop skills and knowledge in areas that will make
14 workshop topics, and the Michigan SBA distributed attendees more effective as small business lenders, and
222 million dollars across 737 loans. Entering its 21st more impactful in their role.
year in 2019, the Great Lakes Lenders Conference has
grown to nearly 400 attendees offering more than 40 This year the conference will include an array of
workshop topics. Michigan SBA loan amounts have workshops, speakers, and professional activities for
quadrupled to more than $1 billion across nearly 3,000 attendees to participate in. Conference goers will be
loans. The conference is also now attended by lenders able to choose from over 35 breakout sessions, including
from across the Great Lakes states, as well as regional and topics like Franchise Lending, Business Valuation, and
national SBA leaders, prominent keynotes, and premier 7(a) Basics. In addition, hosts of the GLLC are excited
organizations that support and service small business to announce three keynote speakers: David M. Glaccum,
lending institutions. Those who attend are instrumental SBA Associate Administrator for International Trade,
in small business growth and success. Michael McWilliams, Michigan Forecasting Specialist at
the University of Michigan, and John Miller, SBA Deputy
This year’s conference is hosted by the Michigan SBDC Associate Administrator, Office of Capital Access.
and the SBA District offices of Cleveland, Columbus, Attendees will also have the chance to submit questions
Indiana, Illinois and Michigan. The conference will be to a panel of lending experts.
held at the Detroit Renaissance Center from July 23-25.
Bankers, lenders, brokers, and small business advocates The Great Lakes Lenders Conference also provides
are invited to attend the conference to expand their many opportunities for networking. Browse product and
knowledge of SBA programs and small business lending. services offerings from leading industry vendors, and
connect with colleagues as well as the SBA team. This year
“SBA lending helps small businesses grow, which Lenders Conference attendees will see the return of the
is why the Michigan SBDC is proud to host the 2019 Detroit River Cruise Reception.
Great Lakes Lenders Conference alongside the SBA,” This exciting networking event
commented J.D. Collins, Michigan SBDC State Director. features DJ entertainment,
“Industry leaders will share key updates on SBA beverages, scenic views of the
lendingprograms, ultimately helping more business start, Detroit riverfront and plenty of
grow and thrive.” opportunities to connect with
Since 2016, the Michigan SBDC has acted as the conference attendees!
fiduciary and managing partner of the Great Lakes Registration for the
Lenders Conference. The Michigan SBDC connects with conference is open until
communities, providing no-cost consulting to small July 12, 2019. Visit www.
businesses that are looking to assist small businesses greatlakeslenders.com for a
to launch, grow, transition and innovate. In addition full list of breakout sessions, Hanna Burmeister,
to consulting services, the Michigan SBDC offers on- information on keynote Marketing Manager
demand and in-person training, market research, speakers, and to register. Michigan SBDC
cybersecurity and export assistance at no cost. The
purpose and philosophy of the Great Lakes Lenders
10 Great Lakes Banker • June 2019Mark Williams
President
Michigan’s #1
Scott Vroegindewey
SBA Lending Partner Mike Ufford
West Michigan Macomb & E Detroit
SBA 504
SBA 7(a)
John Galbraith Jack Johnson
N Lower Peninsula Ann Arbor & W Detroit
Eric Kehler
Vice President—SBA Loans
Todd Horton Cathy McHarg
Upper Peninsula Detroit & Oakland County
Business Loans MCDC
Terms up to 25-years www.michigancdc.org
Up to 90% Financing 1 (833) 4 SBA LOAN
Low, Fixed Interest Rates 1 (833) GET 7A LOANS
Knowledge Experience ResultsFirst Internet Bank Promotes Mike Upton
FISHERS, IN—First Internet Bank announced Mike institutions including Grandbridge Real Estate Capital,
Upton has been named Vice President, Commercial Real L. J. Melody & Company, Fifth Third Real Estate Capital
Estate Relationship Manager. Mr. Upton’s promotion Markets and National City Bank of Indiana.
expands the client-facing team within the Bank’s Single “In his tenure with the Single Tenant Lease Financing
Tenant Lease Financing program. team, Mike has made a significant contribution
First Internet Bank opened for business in to its success,” said Maris Kancs, First Vice
1999 as an industry pioneer in the branchless President, Director of Single Tenant Lease
delivery of banking services. With assets of Financing. “His industry knowledge and proven
$3.7 billion as of March 31, 2019, the Bank abilities make him a natural fit for this new
now provides consumer and small business role.”
deposit, consumer loan, residential mortgage, “My extensive background will enable me
and specialty finance services nationally. The to be productive and hit the ground running,
Bank also offers commercial real estate loans, identifying customized real estate financing
commercial and industrial loans, SBA financing solutions for the Bank’s network of clients,” said
and treasury management services. Mr. Upton. “I am excited to continue providing
Mike Upton
the top-notch execution and service that First
Mr. Upton joined First Internet Bank as a Portfolio Internet Bank’s existing clients have come to expect.” Mr.
Manager in 2018, with nearly 25 years of commercial Upton earned his bachelor’s degree in Finance and Real
lending experience. He previously made lending Estate from Indiana University.
contributions at other financial and mortgage banking
First State Bank Announces the Promotion of Six Officers
SAGINAW, MI: Jim Milroy, President & CEO of 1st State President. Loree joined 1st State Bank in 2010 and has
Bank, is proud to announce the following promotions: 30 years of Information Systems experience.
Kevin Fraser has been promoted to Senior Vice Brittny Welke has been promoted to Banking Officer
President & Chief Financial Officer. Fraser joined 1st & Loan Administration Manager. Welke started at 1st
State Bank in 2009 and has 20 years of experience in the State Bank in 2012 as a Loan Specialist and has 12 years
accounting industry. of banking experience.
Denise Avery has been promoted to Senior Vice Kimberly Amley has been promoted to Banking
President. Avery oversees Deposit Operation Services, Officer & Compliance Officer. Amley joined 1st State
Compliance, and Bank Secrecy. Avery has worked for Bank in 2018 as Compliance Specialist and has 17 years
1st State Bank since 2015 and has 18 years of banking of banking experience.
experience. Cynthia Holliday has been promoted to Banking
Craig Loree, Bank Security Officer & Information Officer & Bank Secrecy Officer. Holliday has over 18 years
Systems Officer, has been promoted to Senior Vice of banking experience and began working at 1st State
Bank in 2017 as a Deposit Operations Specialist.
Kevin Fraser Denise Avery Craig Loree Brittny Welke Kimberly Amley Cynthia Holliday
12 Great Lakes Banker • June 201930 YEARS IN PRINT
Julie Young Appointed to Board of Directors for CNB Financial
Corporation and CNB Bank
CLEARFIELD, PA—Peter F. Smith, Chairman of The Ohio State University Mortiz College of Law. She is
CNB Financial Corporation’s [Nasdaq: CCNE] Board of the recipient of the Worthington Education Associations
Directors, announced the appointment of Julie Young, 2018-2019 Friend of Education Award and the 2015
Attorney with JMY Law, LLC of Worthington, Ohio, to Columbus CEO Magazine’s Top Lawyer in Employment
the Corporation’s Board of Directors and to the Board of and Labor.
CNB Bank. Ms. Young lives in Worthington, Ohio with her
Ms. Young has over 20 years of experience helping husband, Tom, and sons, Ian age 15, and Kaelan age 12.
employers learn, understand and comply with federal She currently serves on the board of advisors for FCBank,
and state human resource (HR) laws and will assist in a division of CNB Bank. Additionally, she serves on the
providing leadership and guidance as CNB Bank and its Old Worthington Partnership Business Advisory Council,
four divisions continue to develop in Pennsylvania, Ohio, and frequently presents to local organizations and small
and New York. and mid-size employers to speak about important HR
“We are very pleased to welcome Ms. Young as legal topics and practical tips for compliance.
a board member. She brings significant knowledge, CNB Financial Corporation is a $3.3 billion bank
industry diversification, and is very accomplished in her holding company conducting business primarily through
trade, which will greatly contribute to the Corporation,” CNB Bank, the Corporation’s principal subsidiary. CNB
stated Mr. Smith. Bank operations include a private banking division, and
Ms. Young graduated Magna Cum Laude from Miami forty-one full-service offices in Pennsylvania, Ohio, and
University with a Bachelor of Arts degree in Political New York.their continued success in positioning our
Science. She also earned her Juris Doctor from company as a distinctive source for financial solutions.”
Serving
Community
Bankers
Since 1950
- Architectural Services -
- Site Selection -
- Planning Studies -
- Renovations - Furnishings -
- Interior Design - Visualization -
- Project Management -
2080 South State Street, Ann Arbor, MI 48104 O (734) 761-2090 F (734) 761-6607 DANIELSandZERMACK.com
Great Lakes Banker • June 2019 1330 YEARS IN PRINT
Byline Bancorp, Inc. Appoints Previously, Mr. Kent spent 13 years as a Managing
Director and co-head of the Chicago office of Keefe,
Steven P. Kent to Board of Bruyette & Woods (“KBW”), investment bank and
Directors broker-dealer specializing in the financial services sector.
Prior to joining KBW, Mr. Kent was an executive officer
CHICAGO, IL—Byline Bancorp, Inc. (NYSE: BY) with Robert W. Baird and Co. for 16 years, where he
announced the appointment of Steven P. Kent to the led strategic planning, fixed income capital markets
Boards of Directors of both Byline Bancorp and its and structured finance, and he also headed the firm’s
subsidiary bank, Byline Bank, effective immediately. Mr. Financial Services Investment Banking practice. Mr. Kent
Kent brings over 45 years of financial services industry served as a member of Baird’s operating and capital
experience to the Board. commitment committees. Mr. Kent was also previously
an executive officer at two Midwestern multi-bank
Headquartered in Chicago, Byline Bancorp, Inc. is the
holding companies focusing on strategic planning, bank
parent company for Byline Bank, a full service commercial
and trust investment portfolio management, asset and
bank serving small- and medium-sized businesses,
liability management, and commercial and government
financial sponsors, and consumers. Byline Bank has
guaranteed credit origination.
approximately $5.3 billion in assets and operates more
than 60 full service branch locations throughout the Mr. Kent has previously served as a director and
Chicago and Milwaukee metropolitan areas. Byline Bank member of the finance and nominating committees of IFF,
offers a broad range of commercial and retail banking a Midwest-focused Community Development Financial
products and services including small ticket equipment Institution (“CDFI”) certified by the U.S. Department of
leasing solutions and is one of the top 10 Small Business the Treasury, which serves as a mission-driven lender,
Administration lenders in the United States. real estate consultant and developer that helps create
opportunities for low-income communities and people
“Steve has had a highly distinguished career
with disabilities. In January 2019, Mr. Kent was elected to
as both a commercial banking executive and an
the board of Community Reinvestment Fund, USA, a CDFI
investment banker focused on the financial services
with a national strategy headquartered in Minneapolis.
industry”
—Roberto Herencia
Huron Valley State Bank
“Steve has had a highly distinguished career as both
a commercial banking executive and an investment Announces the Appointment of
banker focused on the financial services industry,” said Jeff Ozanich to Vice President /
Roberto Herencia, Chairman of Byline. “Steve’s expertise
in M&A and capital management will be very valuable to Commercial Lender
the Board as we continue to execute on both our organic Milford, MI—Jack Shubitowski, President and CEO
and acquisitive growth strategies to enhance the value of Huron Valley State Bank, is pleased to announce
of the Byline franchise. We are very pleased to welcome the appointment of Jeff Ozanich to Vice President /
Steve and look forward to his added perspective and Commercial Lender. In his
expertise at the Board level.” position, he will be concentrating
on developing and expanding
Mr. Kent is Vice Chairman and a Managing Director
commercial relationships in the
of the Financial Services Group at Piper Jaffray Co., where
community.
he focuses on merger & acquisition advisory services
and capital market transactions for financial services Ozanich started his career
companies. Prior to joining Piper Jaffray in October over twenty years ago. He was
2015, Mr. Kent co-founded and served as President of most recently with Citizens
River Branch Capital from March 2011 through its sale Bank where he served as a
to Piper Jaffray in September 2015. At River Branch, Mr. Relationship Manager located
Kent advised bank clients on capital management, equity out of Brighton covering a wide
recapitalizations, mergers & acquisitions and private territory throughout Livingston Jeff Ozanich
equity investments. and Oakland Counties. In his role he was responsible for
14 Great Lakes Banker • June 2019partnering with the branches to develop new business, U.S. Bank Leader Ankit Bhatt
while managing his existing book of business. He was
also responsible for deposits, cash management and Named Digital Banker of the Year
merchant processing. Prior to that he was with Bank of
America for 17 years. During his time at Bank of America
Omnichannel SVP Ankit Bhatt 2019 Digital
he had a variety of roles from Business Calling Manager, Banker of the Year for his leadership and results
to Mortgage Banker, Branch Manager and at one time in U.S. Bank’s digital transformation
he was licensed for investments.
MINNEAPOLIS, MN—Ankit Bhatt of U.S. Bank was
“Ozanich is a great addition to our already strong named Digital Banker of the Year by American Banker.
lending team led by Steven Peacock. He brings a wealth The publication noted numerous factors in determining
of knowledge from his experience on the retail side and the award, including many
has extensive experience in different areas of lending,” positive leadership traits, a
said Jack Shubitowski, President and CEO of Huron Valley score of achievements and
State Bank. an ability to successfully build
products that put customers
“I am excited about the opportunities to work at
first.
a progressive community bank in small business” said
Ozanich. “I look forward to building new relationships U.S. Bancorp, with
and expanding our commercial lending services to small 74,000 employees and $476
and medium sized businesses.” billion in assets as of March
31, 2019, is the parent
Ozanich earned his degree in Business Management
company of U.S. Bank, the Ankit Bhatt
from Western Michigan University. He lives in Brighton
fifth-largest commercial bank
with his wife and two kids and he enjoys playing golf
Continued on Page 16
and hockey.
First For Your Success
United Bankers' Bank is proud to be the nation's first and the upper Midwest's
largest bankers' bank, covering 14 states and serving over 1,000 community
banks from the Pacific Northwest to the Great Lakes. We can't wait to share our
passion for community banking with youl
For more information, contact your Great Lakes Calling Team:
Pat Burnette Bob McGovern
VP, Investments VP, Correspondent Banking Officer
248.880.0521 614.962.6505
pat.burnette@ubb.com bob.mcgovern@ubb.com
Chris Knight Scott Burke
SVP, Regional Sales Manager VP, Lending
614.962.6504 614.962.6503
chris.knight@ubb.com scott.burke@ubb.com
First for Your Success'"
ubb.com • Member FDIC
800.752.8140
Great Lakes Banker • June 2019 15Continued from Page 15
in the United States. The Minneapolis-based bank blends mobile app that was co-created every step of the
its relationship teams, branches and ATM network way with customers. The app provides one of the
with mobile and online tools that allow customers to most comprehensive and useful mobile banking app
bank how, when and where they prefer. U.S. Bank is experiences, fueled by extensive research on how people
committed to serving its millions of retail, business, wealth use their mobile apps, an analysis of consumer needs
management, payment, commercial and corporate, and direct customer feedback. All of that was achieved
and investment services customers across the country in only nine months.
and around the world as a trusted financial partner, a
commitment recognized by the Ethisphere Institute “We are both proud and impressed with everything
naming the bank a 2019 World’s Most Ethical Company Ankit and our teams have been able to achieve in the
past few years in U.S. Bank’s digital transformation,” said
Bhatt joined U.S. Bank in 2017 as a key leader in U.S. Gareth Gaston, executive vice president of Omnichannel
Bank’s enterprise-wide digital transformation efforts. Initiatives at U.S. Bank. “The many efforts are already paying off
began shifting from incremental improvements that helped with great results and I know the best is still yet to come.”
customers now, to making leaps to address future wants and
needs. Bhatt led several high-profile initiatives during that Bhatt was quick to recognize those on his team
time, the biggest of which was the complete rebuild and and partners across the bank. “I’m incredibly thankful
overhaul of the flagship U.S. Bank mobile app. for this recognition as Digital Banker of the Year,” he
In the span of about a year, Bhatt led teams to said. “There is so much effort that goes into developing
concept, prototype, build, deploy, and re-deploy many a groundbreaking new app and I can’t imagine a better
iterations, which resulted in a brand-new U.S. Bank team and partners to work alongside to pull it all off.”
Accounting l Audit l Business Consulting
Compliance Audit l Internal Audit
IT Consulting l Loan Review l Quality Control
SOX Design & Testing l Tax Planning & Preparation
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Accounting professionals dedicated to excellence and providing outstanding value to our clients.
888.754.8478 l www.ahpplc.com
ANN ARBOR l AUBURN HILLS l BAY CITY l GRAND RAPIDS l GREATER LANSING l MIDLAND l OWOSSO l SAGINAW
16 Great Lakes Banker • June 201930 YEARS IN PRINT
First Federal Bank of Wisconsin for Wisconsin Bankers Association Deposit Compliance
School and Loan Compliance School.
Expands Executive Team, Naming
Haslam was delighted to receive the promotion
New SVP of Lending and SVP of and stated, “I am fortunate to lead an outstanding
Operations management team and look forward to the continued
growth and success of First Federal Bank of Wisconsin.”
Waukesha, WI—First Federal Bank of Wisconsin First Federal Bank is pleased to recognize her hard work
is proud to announce that Brian McManus, a 20-year and dedication with this promotion.
banking industry veteran and most recently Senior Vice
President of Commercial Lending has been promoted to Sturgis Bancorp, Inc. New
Senior Vice President of Lending and Executive Officer of
First Federal Bank. Michelle Haslam, former Information
Director Appointment
Security Risk Officer, has been promoted to Senior Vice STURGIS, MI—Sturgis Bancorp, Inc. (OTCQX: STBI)
President of Operations and Executive Officer of First announced the appointment of Jason G. Halling to the
Federal Bank. Boards of Directors for Sturgis Bancorp, Inc. and Sturgis
Bank & Trust Company.
In his new role as Senior Vice President of Lending,
Jason Halling is a member of the Board of Directors,
McManus is responsible for growing the lending and
Oak Press Solutions Inc. and Vice President Business
depository relationships of the Bank while managing and
Development at Burr Oak Tool Inc., Sturgis, MI. He is
monitoring the quality of the existing loan portfolios.
responsible for global partnerships and driving overall
McManus joined First Federal Bank in 2018 as company growth. Halling previously was a financial
Senior Vice President of Commercial Lending. Prior to auditor and consultant with Ernst & Young, LLP,
joining First Federal Bank, McManus worked for BMO
Harris Bank (formerly M&I Bank) leading the asset based
GROWING
lending division and later managing a Special Assets
Management Unit team for BMO with employees across
the Midwest. He also spent 10 years working for Wells
Fargo’s asset based lending group as an analyst, collateral
WITH YOU.
examiner, and lender.
McManus serves as chairman of the St. Thomas
Aquinas Academy Advisory Board and the City of St.
Francis Economic Development Committee, is a member
of the Turnaround Management Association, and a
Youth Soccer Coach. His ongoing success is built upon
his commitment to the Bank and its mission to live out
The Community Bank Difference.
As Senior Vice President of Operations, Haslam will
oversee the Information technology/security, deposit
support, facilities, and consumer banking management
teams.
A 29-year veteran of the banking industry, Haslam
has held roles as Assistant Vice President, Vice President,
Collections Specialist, Compliance Officer, Compliance
Specialist and Director of Internal Audit prior to her
tenure at First Federal Bank.
Haslam is an active member of the Wisconsin
Bankers Association Compliance Advisory Board and IT/
Operations Committee and serves as Faculty and Director LAKESTONEbank.com
Great Lakes Banker • June 2019 1730 YEARS IN PRINT
Chicago, IL and a licensed CPA in Illinois. Olivieri’s practice includes representing management
“The Directors are pleased to have Jason join the in employment related matters and business immigration
Board. His core values align with those of the Bank law. As co-leader of the firm’s Higher Education Practice,
and fellow Directors. Jason believes a community bank he also represents institutions of higher education and
should invest in the communities it serves in order to has assisted the governing
build a community that attracts people to work and live. Board of these institutions
He believes a community bank should be a visible and on a broad spectrum of
consistent force for good in community engagement. legal matters.
Jason has a strong business background and excellent Olivieri served as Chair
leadership qualities. He brings valuable insight to the of Michael Best’s Labor
Board from his manufacturing and past audit experience. and Employment Relations
Jason is not only committed to his community but Practice Group from 2007 to
is a dedicated husband and father. We are proud to 2015 and was responsible
add Jason as part of an already outstanding group of for budgeting, staffing,
Directors,” said Eric Eishen, President/CEO, Sturgis Bank planning, and business
& Trust Company. development. During his
Halling earned his Master’s in Accounting from the tenure, the group was
José Olivieri
University of Notre Dame and a Bachelor of Science, consistently rated as the top
Business Management Finance from Brigham Young labor and employment practice in Wisconsin by Chambers
University. USA. Olivieri also established the firm’s Immigration
Halling, his wife and family reside in Sturgis. He and International Migration Practice and has served as
is active in the City of Sturgis Economic Development convener of Michael Best’s Higher Education Practice
Corporation, Sturgis Improvement Association/ since its inception 15 years ago.
Brownfield Redevelopment Authority, Boy Scouts of Outside of his legal practice, Olivieri has held a variety
America, and Sturgis Historical Society. of leadership roles for local organizations including Chair
Sturgis Bancorp is the holding company for Sturgis of the Board of Directors for the United Community
Bank & Trust Company (Bank), and its subsidiaries Center and as Chair of Carroll University’s Board of
Oakleaf Financial Services, Inc., Oak Mortgage, LLC, Trustees. First Federal Bank is pleased to have Olivieri’s
Oak Insurance Services, LLC, and Oak Title Services, extensive experience and unique perspective on our
LLC. The Bank provides a full array of trust, commercial Board of Directors.
and consumer banking services from banking centers
in Sturgis, Bangor, Bronson, Centreville, Climax, Colon, Specht joined Cousins
South Haven, Three Rivers and White Pigeon, MI. The Subs in 2001 as the Human
Bank also has a loan production office in Portage, MI. Resources Manager. In 2008,
Oakleaf Financial Services offers a complete range of she became the President
investment and financial-advisory services. Oak Mortgage and Chief Operating
offers residential mortgages in all markets of the Bank. Officer of Cousins Subs
Oak Insurance Services offers various competitive and in 2015 assumed the
commercial and consumer insurance products. Oak Title role of President and Chief
Services offers commercial and consumer title insurance. Executive Officer. In January
2019, Specht transitioned
Olivieri and Specht Joins First from her dual role to narrow
Federal Bank’s Board Of Directors in on her responsibilities as
CEO.
Waukesha, WI—First Federal Bank of Wisconsin is Christine Specht
proud to announce Christine Specht, CEO of Cousins Subs Under Specht’s leadership she strengthened Cousins’
and José Olivieri, Managing Partner of the Milwaukee unit-level economics, created a strong core of franchise
office of Michael Best & Friedrich LLP, has joined the partners, and positioned Cousins for growth in the
Bank’s Board of Directors. Midwest.
18 Great Lakes Banker • June 2019Specht also serves on Concordia University’s MBank Announces Promotion of
Wisconsin Board of Regents, is the Chair of Concordia
University’s Wisconsin Foundation Board, the Chair of The Barbro-Meiners to AVP
Management Association (MRA) and is the President on SAULT STE. MARIE, MI—MBank is pleased to
Cousins Subs Make It Better Foundation board. She has announce the promotion of Francene Barbro-Meiners to
also committed nine years of service to both the Lutheran Assistant Vice President Mortgage Loan Officer.
Living Services and Community Memorial Hospital.
Ms. Barbro-Meiners
First Federal Bank is pleased to have Specht’s extensive earned her bachelor’s
experience and unique perspective to join the Board of degree from Lake Superior
Directors. State University in 1993
and has nearly twenty years
Benét Rupp Named Chief People working in the financial
services industry. She joined
Officer of Farmers & Merchants the MBank team in 2015
and was promoted to AVP
State Bank. Mortgage Loan Officer as
ARCHBOLD, OH—Farmers & Merchants State Bank a result of her continued
announced the appointment of Benét Rupp as the Chief leadership and professional
People Officer. Lars Eller, President and Chief Executive development. Francene Barbro-Meiners
Officer, stated, “Benét has a long and proven history of
leading all elements of Human Resources and we look “Ms. Barbro-Meiners is an incredible asset to our
forward to her bringing that experience to F&M.” Sault Ste. Marie branch,” explained Ann Deming, Vice
President Retail Lending Manager for MBank. “She has
As Chief People Officer, Benét will serve on the exemplified exceptional lending skills and I am confident
executive team and be responsible for developing a her leadership will positively impact our customers and
people strategy which aligns with the vision, mission and our branch team.”
values of F&M. She will provide strategic counsel and
oversight for diversity and inclusion, talent management, This promotion from within the bank continues to
succession planning, organization development and demonstrate the opportunities for career growth MBank
cultural transformation, total rewards and HR technology. is able to provide.
She will have leadership accountability for the Wilmington Trust CFO Abigail
functional areas of human resources ensuring the
installation of programs, processes and practices which Mrozinski Recognized by
build a culture that attracts, retains and develops the American Banker as one of the
best team for F&M.
15 ‘Most Powerful Women in
Benét has 30 years of human resources, leadership,
and mergers and acquisitions experience. She most Banking: NEXT’ in 2019
recently served as Senior Vice President, Human Resources NEW YORK, NY—Abigail Mrozinski, Chief Financial
at ProMedica. Prior to this role, her career included Officer for Wealth and Institutional Services for
a variety of progressive human resources leadership Wilmington Trust, was recognized as one of their 15
roles at The Andersons Inc., Therma-Tru Doors, MSC “Most Powerful Women in Banking: NEXT” for 2019. She
Walbridge Coatings and National City Bank. She has was selected by a panel of judges based on her individual
served on many Northwest Ohio Boards and Affiliations accomplishments and contributions to Wilmington Trust
in leadership roles. and the banking industry. Along with 2 of her fellow list
makers, Mrozinski appeared on the magazine’s (American
She has a Bachelor of Science in I/O Psychology from Banker) cover as one of its inaugural lists of honorees.
Bowling Green State University and a Master of Business
Administration from the University of Toledo. She has The Most Powerful Women in Banking: NEXT list
several industry specific certifications. spotlights the rising female stars in the banking industry
Great Lakes Banker • June 2019 19and highlights their accomplishments and great strides working styles. I am privileged that the senior leaders at
made early in their careers. The NEXT list also brings Wilmington Trust embraced my differences and offered
together the next generation of female leaders who have me the opportunities to reach my potential.”
been nominated and selected for their C-suite potential.
Mrozinski will be honored along with her fellow list
“Abby leads by example and has been instrumental makers at The Most Powerful Women in Banking: LEAD
in Wilmington Trust’s rapid growth over the past eight (LEAD) event in New York City on May 22. She will be
years,” said Bill Farrell, Executive Vice President and Head joined for the one-day program by 10 Women selected
of Institutional Client Services for Wilmington Trust. “She from Wilmington Trust’s Management Development
never loses sight of the bigger strategic picture, which is Program who represent the firm across its many regions.
critical when working on complicated transactions. Abby
has excellent analytical skills yet brings a creative approach The LEAD program brings together the industry’s
so she can shape positive outcomes for even the most rising stars and newer entrants in banking and finance
difficult issues. While we have always known that Abby to hear from women and men, at the top of the industry
possesses a unique set of talents worthy of recognition, about pressing issues facing all women and new ideas on
we couldn’t be happier that American Banker has now leading to help move the industry forward.
honored her on this list with other formidable women in During this year’s program, the attendees heard from
the industry. We congratulate them all.” leaders including a “Fireside Chat” with Cathy Bessant,
Mrozinski has made a profound impact on the COO, Bank of America and a session with Joshua Stewart
growth of Wilmington Trust. In 2011, she was a key of PNC focused on unconscious bias.
leader in the merger process between M&T Bank and “In the past, Diversity and Inclusion were concepts
Wilmington Trust, making strategic recommendations often times associated simply with being the ‘right thing
to executive management in the risk management and to do.’ Today, more than ever, it is clear that Diversity and
long-term planning phases during the $350 million Inclusion will play an integral part in business growth and
merge. Mrozinski’s contributions to this effort have success for today and beyond,” said Glenn Jackson, Chief
helped Wilmington Trust grow the pre-tax contribution Diversity Officer, M&T Bank. “We fundamentally know
at a compounded annual rate of 20 percent since 2012, and believe that we will make better business decisions
with revenue at almost $900 million for 2018. when we have diversity of representation which clearly
After guiding the $350 million merger into the M&T includes equitable gender participation.”
Bank, Mrozinski was asked to join the Global Capital
Markets relationship management team responsible
for the General Motors liquidation trust. This was one
of the largest single transactions in the business’ history PS Bank’s William Joseph
as a corporate trustee. Given the public nature of GM’s
bankruptcy, this position required significant interaction
Honored with Council’s Award
with numerous government agencies, including regular for Community Investment
interactions with the U.S. Treasury and direct solicitation
to the SEC for the ability to establish publically traded Leadership
units of the liquidating trust. She was then recruited into MALVERN, PA—William M. (Bill) Joseph, Senior Vice
the CFO role, where she oversees all financial matters President and Senior Loan Officer at PS Bank, in Wyalusing,
related to the bank’s Wealth and Institutional Division, Pa., has been presented with the 2019 Council’s Award
which has grown to be the third largest business within from FHLBank Pittsburgh for excellence in community
M&T. investment. Joseph received the award at an FHLBank
regional member event in Malvern, Pa. John Bendel,
“The American Banker awards bring much-needed FHLBank Senior Director of Community Investment,
attention to the vital issue of making sure the financial spoke about Joseph’s community achievements before
services industry remains inclusive and diverse,” said Abby presenting him with the award.
Mrozinski. “Differences can be challenging and diversity
means including people of different backgrounds, ages, Named in recognition of FHLBank Pittsburgh’s
with different experiences, opinions and perhaps Affordable Housing Advisory Council, FHLBank’s annual
20 Great Lakes Banker • June 201930 YEARS IN PRINT
Council’s Award provides special of local issues and causes. He serves As part of the Council’s Award,
recognition to an outstanding on the Board of the Wyalusing FHLBank Pittsburgh presented a
financial services professional Chamber of Commerce and The $1,000 check on Joseph’s behalf
who has demonstrated superior Grula Foundation, which benefits to Helping Hands Food Pantry
professional commitment and children with cancer and supports in Wyalusing, Pa., a community-
community spirit. The award pediatric cancer research. He also outreach food pantry supported
highlights accomplishments in volunteers with several other entirely by donations.
meeting FHLBank’s affordable nonprofit organizations.
housing and community investment
mission.
With 39 years of experience
in financial services, Bill Joseph is What is a Bank?
currently a member of the senior
management team at PS Bank, where A bank is a bundle of PROMISES!
he leads lending and credit activities. Deposits are placed with a bank with
Previously, he worked for 13 years The promise that such deposits will be
at FHLBank Pittsburgh, where his Repaid
professionalism and commitment to
excellence supported the housing A bank invests or lends out money with
finance and community lending The promise of repayment.
activities of FHLBank’s member
institutions. A breakdown in these offsetting promises
Assisting small businesses Will close the bank.
has been a particular strength of
Joseph’s leadership. He has used The banking system is based on the
FHLBank Pittsburgh’s Banking On Continuous fulfillment of promises.
Business product to help dozens of
Tom Dix
small businesses gain financing they
Retired CEO
would not otherwise have qualified
Southern Ohio Bank, Cincinnati
to receive. He has also utilized
FHLBank’s Community Lending
Program to support the operations Tom Dix and Don Jeffery, Sr. worked together at
and expansion of many other NBD Bank for many years. He was an excellent
qualified small businesses.
banker who rose to CEO. He now runs a successful
Joseph has exemplified a
commitment to affordable housing
business near Cincinnati, TDX Financial, P.O. Box
by encouraging PS Bank’s use of the 91, Moscow, Ohio 45153, telephone: 513 314-9086.
First Front Door product to assist
first-time homebuyers with down PS: Don’s Best Selling book on “A History of Michi-
payments and closing costs. He has
also been instrumental in supporting gan Banking” $25.00 is still available. Don also does
FHLBank’s new Home4Good programs for service clubs in Michigan (No Charge).
product, which provides resources to
local service organizations that assist
individuals and families who are Contact: Don Jeffery, Sr.
homeless or at risk of homelessness.
President
In addition to his active role as
a community banker, Joseph serves
Don Jeffery & Associates
his community by volunteering with 734 284-0979
organizations that address a number
Great Lakes Banker • June 2019 21You can also read
