WBA Legal has prepared a new toolkit to help senior management, commercial lenders, loan processors, compliance officers, and others involved with small business lending to better understand the impact of CFPB’s recently proposed small business rule on the bank. Once finalized, the requirement to collect and report certain data about small business credit applicants will have a dramatic impact on current application and processing operations and record retention.  

A PowerPoint summarizing CFPB’s proposed rule has been created for use by staff who seek to present the main components of the proposal to lending and processing staff. The PowerPoint provides a background, proposed compliance dates, information regarding covered financial institutions, definition of small business, minority-owned and women-owned business, definition of covered application and covered credit transaction, what data must be collected, and reporting information.  

In addition to the PowerPoint, the toolkit also includes a complete outline of the proposed rule, including the proposed commentary and several appendices. CFPB’s proposed rule summary and a data point chart are also included.  

CFPB is accepting comments regarding its proposal. WBA hopes each bank will take into consideration the information provided in this toolkit, assess the proposal’s impact on the bank, and provide comment to CFPB regarding such impact.  

WBA Legal will be creating a draft comment letter for use by members to reply to CFPB regarding concerns and impact of the proposal on banks. WBA encourages each bank to consider submitting its own letter reflecting bank-specific information.  

Feel free to contact WBA Legal at wbalegal@wisbank.com regarding CFPB’s proposal.

Rose Oswald PoelsBy Rose Oswald Poels

This time of year, perhaps more than others, causes us to pause and think about all that we are thankful for. As a member-driven trade association, I am always grateful for your membership and support. I want to highlight today a few notable accomplishments that WBA achieved this calendar year with your input and partnership.

The communications team has been working since spring of this year to develop a brand-new website for WBA members, which was recently launched in October. The process leading up to its launch involved feedback from members of various banker committees sharing how they used the site and what they wanted to see in a new site. Traffic to the site has increased since the launch, and thanks to the improved layout and navigation, the number of searches conducted on the site has dropped by over 80%. We are extremely proud to have made our resources more navigable for you and to continue to provide reliable information to you each day.

At the request of members and with support from the Board, WBA also ran a public awareness campaign this spring and summer, building off of the goodwill that was generated by banks throughout Paycheck Protection Program (PPP) lending during the pandemic. The campaign included billboards, digital ads, and media relations to highlight the ways Wisconsin banks serve their communities.

Many of our events and schools returned in person in 2021 while we also continued to offer virtual options for members. The flexibility developed by our education team has allowed thousands of bankers to attend conferences around the state, visit WBA’s engagement center in Madison, and view webinars at their convenience. WBA staff continue to receive feedback from members as to how they want training delivered to them, and we continually work to accommodate everyone’s needs.

As always, our government relations team spent time with legislators on our key issues and were crucial in passing helpful legislation but preventing what would hurt our industry the most. The number one priority this year was getting COVID-19 premises liability protection passed and enacted, and our team was instrumental in doing so. The WBA government relations team, along with voices from our membership, also helped prevent the advancement of legislation that would have expanded the authorized powers and abilities of credit unions (AB 478) as well as the advancement of legislation that would disrupt the electronic payment system (AB 587/SB 572).

Last, but not least, the legal team has stayed busy staffing the legal call program to promptly respond to member questions, creating new compliance toolkits and resources for members, and writing comment letters and amicus briefs on regulatory and judicial issues important to the banking industry.

WBA is your association, and we would not exist without your involvement and support of our many programs and services. Our staff is proud to work with you and support the great work you do in your banks and in your communities. Thank you for your membership and engagement — looking back over this year’s accomplishments makes it clear that we have accomplished many things together that no one institution could have done alone. I wish you all a very Happy Thanksgiving!

Triangle Background

North Shore Bank has announced Rick Woldt as the new mortgage loan originator. In this new role, Woldt will be responsible for assisting customers in the lending, purchasing, and refinancing of their homes.

“We’re thrilled to have Rick and his extensive expertise on our team,” said Chris Boland, vice president, consumer lending manager at North Shore Bank. “I know our customers will appreciate Rick’s vast knowledge within the space and personable nature as they enter into the home buying experience.”

Woldt has more than 25 years of experience in residential mortgage lending and will be working out of the Germantown branch, servicing all of Southeastern Wisconsin. He currently resides in Thiensville, Wis. with his family.

Bank of Wisconsin Dells would like to congratulate senior vice president and chief credit officer, Kevin Bernander, on 40 years with the bank. Bernander began his career with Bank of Wisconsin Dells in 1981 as a consumer lender, eventually transitioning to the Lake Delton branch manager where he directed all branch operations and later served as the chief lending officer for a period of 13 years. In 2017, Bernander was promoted to senior VP/chief credit officer where he oversees and leads the credit department on behalf of Bank of Wisconsin Dells.

“It’s been a blast,” says Bernander. “Watching our customers and staff grow and become successful has been one of the many things I like most about working here. I am happy to be a part of it all.”

We are beyond grateful for Bernander’s dedication and service to our team and this community throughout his 40 years. Congratulations and thank you, Kevin!

Triangle Background

Community State Bank kicked off their 4th season of #Gift2Giving with a donation to Cops N’ Kids Reading Center in Racine. Left to Right: Carrie Hall (CSB), Julia Witherspoon (Founder of Cops N’ Kids), Shanandoor Kanter (CSB), Josh Audenby (CSB), Neil Buchanan (CSB), Also pictured are students and staff of Cops N’ Kids.

Community State Bank (CSB) recently began the 4th season of their employee driven donation campaign #Gift2Giving. In October each CSB employee was presented with $100 to donate back into the communities of Racine, Kenosha, and Walworth counties.

CSB is pleased to announce that all 87 employees are participating in this year’s program. Now, until the end of the year, CSB team members will be delivering their donations to non-profit organizations throughout Southeast Wisconsin.

“The #Gift2Giving campaign has had a remarkable impact on our staff and communities,” said CSB president and CEO, Scott Huedepohl. “It’s become a part of our culture and we look forward to it every year. We’re honored to be bringing it back for it’s fourth season.”

CSB employees were encouraged to work together and combine their #Gift2Giving funds to create a larger impact with their donations. In addition, employees were also given the opportunity to make a personal donation, which were also matched by CSB dollar for dollar. Over $10,000 in campaign funds are being distributed among 12 nonprofit organizations.

“Southeast Wisconsin is filled with unique non-profit organizations that make a tremendous difference to our community,” explained marketing communications coordinator, Eloissa Heigl. “#Gift2Giving provides our staff with the opportunity to thank these great organizations for what they do, while also providing a platform to share their story and hopefully inspire others to give back too.”

Community State Bank will be documenting a majority of the donations through videos, podcasts, photos and journal entries. The first donation to Cops N’ Kids Reading Center in Racine has already been posted to the #Gift2Giving blog.

For more information about #Gift2Giving or to read the #Gift2Giving blog visit CSB.bank/Gift2Giving or follow along on social media using #Gift2Giving.

The Wisconsin Bankers Association Advocacy Officer list just crested 100, and we are looking for 25 additional banks to designate an Advocacy Officer by the end of the year. The Advocacy Officer program is a leadership opportunity to coordinate regulatory, legislative, and community advocacy efforts for the bank by working with WBA. Advocacy Officers work with other bankers, WBA staff, state, local, and federal levels of government, and other state or national trade groups.

A major event for Advocacy Officers will be the upcoming WBA Capitol Day in Madison on January 18, 2022. Participants will receive training and support to meet with their elected officials in the State Capitol and share their stories about how legislative issues impact their professions and their communities. While this is an important opportunity for Advocacy Officers, you do not need to be an Advocacy Officer to participate in WBA Capitol Day.

If your bank has not yet designated an Advocacy Officer, consider someone who has an interest in public policy, a strong understanding of the banking industry (compliance, credit, external relations, etc.), the ability to speak for the bank on matters of regulatory or public policy, and a fairly flexible schedule that is at their own discretion.

More advocacy officer voices speaking together as one to advance WBA’s legislative agenda can make a meaningful impact on very important issues like credit union expansion of powers and interchange fee prohibition.

Thank you to the banks that have already signed up to participate in the Advocacy Officer program:

American Bank of Beaver Dam
American National Bank – Fox Cities
Associated Bank
Badger Bank
Bank Five Nine
Bank of Lake Mills
Bank of Luxemburg
Bank of Mauston
Bank of Milton
Bank of Prairie du Sac
Bank of Sun Prairie
Bank of Wisconsin Dells
Bankers’ Bank
Baraboo State Bank
BLC Community Bank
Bluff View Bank
BMO Harris Central National Association
Bristol Morgan Bank
Capitol Bank
Charter Bank
Citizens Bank
Citizens First Bank
Citizens State Bank
Citizens State Bank of La Crosse
Citizens State Bank of Loyal
Commerce State Bank
Community Bank of Cameron
Community First Bank
Community State Bank
Cornerstone Community Bank
Dairy State Bank
Denmark State Bank
East Wisconsin Savings Bank
Farmers & Merchants Bank of Kendall
Farmers & Merchants State Bank
First Business Bank
First Citizens State Bank
First Community Bank Milton
First Federal Bank of Wisconsin
First Midwest Bank
First National Community Bank
First State Bank
Flagstar Bank, FSB
Fortifi Bank
Forward Bank
GreenLeaf Bank
Greenwoods State Bank
Horicon Bank
Hustisford State Bank
Incrediblebank
Independence State Bank
Intercity State Bank
Investors Community Bank
Ixonia Bank
John Deere Financial, F.S.B.
Johnson Bank
JPMorgan Chase Bank
Ladysmith Federal Savings and Loan Association
Laona State Bank
mBank
MidWestOne Bank
Monona Bank
Mound City Bank
National Exchange Bank and Trust
Nicolet National Bank
North Shore Bank
Northwestern Bank
Oak Bank
Old National Bank
Oostburg State Bank
Park Bank
Partners Bank of Wisconsin
Peoples State Bank
PNC Bank
Premier Community Bank
PyraMax Bank, FSB
Quad City Bank and Trust
River Falls State Bank
Royal Bank
Settlers Bank
Spring Bank
State Bank Financial
State Bank of Chilton
State Bank of Cross Plains
The Bank of Brodhead
The Bank of New Glarus
The Equitable Bank, S.S.B.
The Farmers State Bank of Waupaca
The Huntington National Bank
The International Bank of Amherst
The Park Bank
The Peoples Community Bank
The Pineries Bank
The Port Washington State Bank
The Stephenson National Bank and Trust
Tomahawk Community Bank
Town Bank
U.S. Bank National Association
Unity Bank
Waldo State Bank
Waukesha State Bank
Wells Fargo Bank
Westbury Bank
Wolf River Community Bank
WoodTrust Bank

Laura Deuso, Medford branch manager of Prevail Bank (left), presents Rachel Stilwell, prevention services director (right) of Indianhead Community Action Agency, a check for $500 to support the operations of a new refrigerated mobile food pantry truck.

A donation of $500 was provided to the Indianhead Community Action Agency as part of Prevail Bank’s Charitable Contribution program. The donation will purchase boxes and bags for a new refrigerated mobile food pantry truck that will deliver food to those who live in smaller, rural communities throughout three Wisconsin counties to increase access to nutritious food, in addition to providing referrals to other services that will help increase equity for these individuals and families.

“We and our clients really appreciate Prevail Bank’s generosity,” said Rachel Stilwell, prevention services director. “Our mobile food pantry is a service that is especially appreciated by those individuals and families who lack transportation and would otherwise go hungry.”

Laura Deuso, Prevail Bank branch manager – Medford, shared, “Prevail Bank is proud to support the mobile food pantry that will deliver food to people in Taylor, Rusk, and Washburn counties. We’re committed to supporting those who are less fortunate, especially when it comes to finances and hunger.”

Indianhead Community Action Agency’s mission is to assist individuals in achieving self-sufficiency by providing the resources, education, and services necessary to develop healthy families, sustainable communities, and strong local businesses.

Prevail Bank’s goal is to pursue what’s possible within its local communities. Passionate about the advancement of community based projects and supporting local organization growth, Prevail Bank is a community bank that is continuously working to support the communities it serves.

Prevail Bank’s Charitable Contributions program is available for local non-profit organizations that help local people in need, especially those with low-to-moderate incomes; stimulate communities financially; and/or enhances the standard of living of those less fortunate. If your organization is interested in applying for funds for a major initiative in your community, go to: Prevail.bank/resources/community

LEAD360_Banner

Rose Oswald Poels (left) awards Dena Hineline (center) and Sue Krause (right) with prestigious awards.

On Wednesday morning, fourteen Wisconsin bankers and ten banks were honored by the Wisconsin Bankers Foundation (WBF) for their efforts in promoting financial literacy to Wisconsin’s consumers. WBF is the nonprofit arm of the Wisconsin Bankers Association (WBA) whose mission is to assist bankers in promoting financial literacy and financial responsibility to the public and to broaden consumer empowerment in the financial services industry through research, education, grants, and scholarships.

Sue Krause, Fox Valley Savings Bank, was awarded the prestigious Financial Literacy Banker of the Year Award and Dena Hineline, Bank of Sun Prairie, was honored with the Financial Literacy Banker Award. Both Krause and Hineline also were honored with the Certificate of Excellence for exceeding twenty financial education presentations in their local communities during the Foundation’s 2020–2021 fiscal year.

Twelve individuals received a Certificate of Recognition completing at least five financial education presentations. This year’s recipients are Pam Blattner, Jimmy Kauffman, and Rob Stelzer, Bank of Sun Prairie; Kelley Jensen and Amy Shorougian, Citizens Bank in Mukwonago; Joshua Pauling, Farmers State Bank of Waupaca; Rachael Danielson, Ryma Lindquist, and Erik Thompson, First Bank of Baldwin; Craig Much, Horicon Bank; and Beth Durow and Julie Matthews, The Stephenson National Bank & Trust.

Rose Oswald Poels (left) recognizes several award recipients at WBA’s LEAD360 on November 17.

The WBF Excellence in Financial Education Award was presented to 10 WBA-member banks for their bank-wide dedication to financial education during the 2020–2021 fiscal year which encouraged over 270 bankers to get involved for the wellbeing of their communities. The banks awarded include Bank of Sun Prairie, Citizens Bank in Mukwonago, Farmers State Bank of Waupaca, First Bank of Baldwin, Fox Valley Savings Bank, Horicon Bank, National Exchange Bank and Trust, Peoples State Bank – Prairie du Chien, PremierBank – Fort Atkinson, and The Stephenson National Bank & Trust.

The outstanding efforts of all honorees were celebrated at the recent WBA LEAD360 Conference held in Wisconsin Dells. During the 2020–2021 fiscal year, these fourteen individuals and 10 banks helped WBF expand its financial education reach to nearly 6,000 people throughout the state. As a result of the pandemic, many bankers have come up with creative ways to advocate for the importance of financial literacy to consumers of all ages.

“These individuals have truly gone above and beyond in the last year to ensure that Wisconsin communities continue to have access to invaluable financial education,” said Chair of the Wisconsin Bankers Foundation Rose Oswald Poels. “We thank everyone that participated for their commitment to their communities and their overall dedication in leading the strive towards a more financially responsible state!”

Triangle Background

The federal banking agencies (FRB, FDIC, and OCC) have issued their final rule to require banks to notify their primary federal regulatory of any “computer-security incident” that rises to the level of a “notification incident”, as soon as possible and no later than 36 hours after the bank determines that a notification incident has occurred.  

The rule defines a “computer-security incident” as an occurrence that results in actual harm to the confidentiality, integrity, or availability of an information system or the information that the system processes, stores, or transmits.  

“Notification incident” is defined as a computer-security incident that has materially disrupted or degraded, or is reasonably likely to materially disrupt or degrade, a banking organization’s: 

(i) Ability to carry out banking operations, activities, or processes, or deliver banking products  and services to a material portion of its customer base, in the ordinary course of business;  

(ii) Business line(s), including associated operations, services, functions, and support, that upon  failure would result in a material loss of revenue, profit, or franchise value; or  

(iii) Operations, including associated services, functions and support, as applicable, the failure or  discontinuance of which would pose a threat to the financial stability of the United States.  

The final rule is effective April 1, 2022 and has a compliance data of May 1, 2022. The full final rule may be viewed here.

Josh Ghena, senior vice president, equity business funding at Cinnaire.

Cinnaire has announced the promotion of Josh Ghena to senior vice president, equity business funding. Mike Witt has been promoted to senior vice president of asset management. In these leadership positions, Ghena and Witt will play a key role in supporting Cinnaire’s strategic plan and providing executive oversight for the organization’s $4.9 billion asset portfolio.

Ghena joined Cinnaire in 2014 and has held positions of increasing responsibility including vice president of asset management, asset stabilization expert, director of special assets and, asset manager. As senior vice president, equity business funding, Ghena manages Cinnaire’s investment strategies and provides oversight of the organization’s equity funds, investor due diligence, and fund modeling. He brings more than 10 years of experience to the position.

Prior to joining Cinnaire, Ghena provided technical assistance to distressed HUD Grantees. His work as a technical assistance provider specialized in CDBG, HOME, and NSP. Ghena earned his Bachelor of Science from Calvin College and his Master of Science from the University of Wisconsin.

Mike Witt, senior vice president, asset management at Cinnaire.

An affordable housing industry veteran, Witt joined Cinnaire in 2020. As senior vice president, asset management, he is charged with overseeing the growth and development of Cinnaire’s Asset Management team and overseeing investments made by Cinnaire in numerous multifamily developments across multiple business lines.

Witt previously served as acting chief of housing at the Michigan State Housing Development Authority (MSHDA), where he was responsible for oversight of all multifamily rental programs and community development decisions. He earned his Bachelor of Arts in Finance from Michigan State University. Witt serves on the board of directors for the Midwest Affordable Housing Management Association (MAHMA) and treasurer of his local homeowner’s association board.