By Rose Oswald Poels
With the end of 2022 right around the corner, I am requesting you to consider making one last donation (for this year) to help us achieve our advocacy goal. As I wrote in the November 8 Executive Letter e-publication, fundraising is a critical component in our Association’s mission of advocating for our industry and ensuring that the public and our elected leaders understand the issues banks across our state face.
This year, the WBA has a goal of raising over $300,000 for our two primary political accounts: Wisbankpac, our registered political action committee and the Alliance of Bankers for Wisconsin (ABW), our state conduit. All money raised through these efforts goes directly to support pro-banking and pro-business candidates and issues. With two weeks left until the end of the year, WBA is just $30,000 away from reaching this year’s goal!
How You Can Get Involved
As we all are well aware, supporting the well-being of our industry as a whole is not something we can accomplish alone. With your involvement, not only will we reach our goal, but it will help WBA to continue to play an important role in moving our industry’s issues forward.
There are several ways you may choose to engage with WBA’s fundraising efforts yet this year.
Silver Triangle
WBA’s Silver Triangle recognizes individual bankers who personally contribute at least $500 to any combination of Wisbankpac, ABW conduit, or the issue advocacy fund.
Gold Triangle
WBA’s Gold Triangle is the highest level of fundraising recognition for banks and achieved through bank employee or director personal contributions to Wisbankpac, or ABW conduit, or corporate contributions to WBA’s issue advocacy fund. Based on bank asset size, qualifying contributions range from $500 to $4,500 across the entire institution.
Beyond fundraising, becoming involved in WBA’s overall advocacy efforts is another critical way to support our industry.
Bankers Involved in Grassroots and Government (BIGG)
WBA’s BIGG Award expands beyond Gold Triangle fundraising to encompass grassroots advocacy engagement and serves as the Association’s highest level of recognition for overall advocacy. In addition to assisting WBA advance the industry’s legislative priorities and promote pro-banking issues to the public, BIGG Award winners receive extensive recognition for their efforts in advocating for our industry.
In order to qualify for the BIGG recognition, banks must meet at least 5 of 7 criteria which include naming an advocacy officer, obtaining Gold Triangle status, contributing to WBA’s issue advocacy fund, sending one employee (at least) to WBA’s annual Capitol Day, participating in a Federal delegation meeting or regulatory trip, hosting a Take Your Legislator to Work event, or other advocacy-related activity.
Thank you very much for your past active involvement in our Association’s advocacy initiatives to support the well-being of our industry. There are just two weeks left in this calendar year to help us achieve our fundraising goal, and to ensure that your bank is recognized for the outstanding work you did in 2022 to promote pro-banking and pro-business initiatives. Make your final contributions today at wisbank.com/give. If you are interested in learning more about WBA’s annual fundraising campaign, how you can get involved, or if your bank qualifies for recognition, please contact Lorenzo Cruz.
Thank you to the 51 banks that have already succeeded in achieving WBA’s Gold Triangle status this year:
- American National Bank – Fox Cities, Appleton
- Associated Bank, Green Bay
- Badger Bank, Fort Atkinson
- Bank Five Nine, Oconomowoc
- Bank of Brodhead
- Bank of Luxemburg
- Bank of Sun Prairie
- Bank of Wisconsin Dells
- Bankers’ Bank, Madison
- Bluff View Bank, Galesville
- Black River Country Bank, Black River Falls
- BLC Community Bank, Little Chute
- Bristol Morgan Bank, Oakfield
- Capitol Bank, Madison
- Charter Bank, Eau Claire
- Citizens Bank, Mukwonago
- Citizens First Bank, Viroqua
- Citizens State Bank of Loyal
- Coulee Bank, La Crosse
- East Wisconsin Savings Bank, Kaukauna
- The Equitable Bank, Wauwatosa
- Farmers State Bank, Hillsboro
- Farmers State Bank of Waupaca
- First Business Bank, Madison
- First Citizen State Bank, Whitewater
- First National Community Bank, New Richmond
- Forward Bank, Marshfield
- Forte Bank, Hartford
- Fortifi Bank, Berlin
- Greenwood’s State Bank, Lake Mills
- Horicon Bank
- Mound City Bank, Platteville
- National Bank of Commerce, Superior
- National Exchange Bank and Trust, Fond du Lac
- Nicolet National Bank, Green Bay
- North Shore Bank, Brookfield
- Oak Bank, Fitchburg
- Old National Bank, Evansville, IN
- Oostburg State Bank
- The Park Bank, Madison
- Partners Bank of Wisconsin, Marshfield
- Peoples State Bank, Prairie Du Chien
- The Peoples Community Bank, Mazomanie
- Premier Community Bank, Marion
- Security Financial Bank, Durand
- State Bank of Cross Plains
- The Stephenson National Bank and Trust, Marinette
- Superior Savings Bank
- Town Bank N.A., Hartland
- Waldo State Bank
- Wisconsin Bankers Association, Madison
- Wolf River Community Bank, Hortonville
The following is a brief interview between WBA President and CEO Rose Oswald Poels and Citizens State Bank, La Crosse President and CEO Dennis Vogel.
Rose: How did you first get into the banking industry?
Dennis: The summer after my junior year of college, I interned at Coulee Bank in La Crosse as a credit analyst. I fell in love with the industry right away because of one’s ability to work with so many different businesses and also not be seen as the typical “boring banker!”
What is your favorite aspect of your role at your bank?
Since starting at Citizens State Bank of La Crosse, my favorite facet of my role has changed over the years from a financial aspect to an impact aspect.
Daily, I’m fortunate to see and hear how Citizens has impacted its employees, customers, and community. Inspiring this impact and the status quo has created something special. There is nothing more rewarding than hearing how Citizens has changed so many lives. When a spouse of an employee thanks me for how Citizens has impacted their spouse, marriage, and family, there is nothing more gratifying.
What do you wish the general public understood about the banking industry?
That a bank isn’t just a bank or a transaction and it doesn’t have to be a boring place to work or do business with. The general public shouldn’t have to settle for just a transaction or poor customer service. Also, the majority of community banks offer the same products as the big banks do with better service. If the general public does their research, they can find that the stereotypes of banking are not always the case if you find the right community bank. Do your homework and it isn’t always about the rate.
Where do you believe the industry’s greatest challenges are in the next three to five years?
I could list off some of the common answers: cybersecurity, fraud, fintech, commoditization, credit unions, etc.; however, with all banks facing the challenge of quality staffing, I think it is only going to get worse.
Yes, technology is helping with being able to do more with less; however, in community banking, it is about people. Unfortunately, the number of students going to college to pursue banking is lower and lower. At Citizens, we have worked very hard to create a culture like no other and break some of the stereotypes; however, as an industry there is a big opportunity for all of us to get the message out on the industry overall and all the opportunities which exist. With no new talent coming into the industry, it makes all the other challenges very difficult to address.
Please describe your current role at your bank and share with us one of your more rewarding experiences.
Being engaged in the community is one of our core values and is one of several components to an employee’s review at Citizens; it is not optional if one is going to work at Citizens State Bank.
If there is something or someone in need, Citizens and its employees are always there to help. Whether it is the Children’s Museum calling with no notice that they have a delivery truck with an exhibit and help is needed to unload the exhibit, getting together as a team to do iFeed on a Saturday, or an employee knowing a customer doesn’t have enough money to eat so they help by buying him lunch — it is in our DNA to give back and make an impact in the community.
Just recently, I had a customer call to thank me for everything I did for him and his business over the years. Years ago, he was on the verge of closing his doors because he couldn’t cover payroll; however, I stuck behind him and since then, the company has flourished with significant wealth.
By Rose Oswald Poels
In March, WBA marked its 130th anniversary — a monumental accomplishment and result of the indispensable support of and engagement in our Association every day. As another busy holiday season quickly approaches and many of us pause to reflect upon all we are grateful for, I am continually reminded not only of the gratitude I hold for our membership and their active involvement in making our industry healthy and prosperous, but of the WBA staff who work each day to uphold our mission to advocate, educate, and support bankers across Wisconsin.
Since inception, advocacy and professional development have remained fundamental values of WBA, and I am pleased each day to work alongside individuals who take extensive pride in promoting Wisconsin’s banking industry and the financial success of communities across the state.
This year, the WBA Government Relations team, alongside several banker volunteers, stayed busy advocating at the state capitol in Madison as well as in D.C on topics ranging from the expansion of credit union powers to credit card swipe fees. In addition, our team was incredibly active in this year’s election, supporting pro-banking candidates, and informing others of the key issues Wisconsin bankers face.
In addition to staffing the legal call program and assisting members with questions, WBA’s Legal team has played a critical role in keeping our members informed of regulatory and judicial issues important to the banking industry. In the last calendar year, the Legal team has created a variety of new resources including a video series and toolkits that provide bankers with a variety of mediums to receive timely compliance information.
As always, members of our Education department have spent the last year offering a wide range of relevant and high-quality conferences, events, and training opportunities at WBA’s engagement center in Madison and around the state. Our flexible offerings have provided thousands of bankers with invaluable knowledge to further their banking careers as well as opportunities to connect with banking peers. Additionally, WBA continued to offer free DEI-focused member webinars and develop resources including a membership-wide employee resource group (ERG) as part of the Association’s DEI Plan to foster a culture of diversity.
In the last year, the Communications team has continued to improve, update, and polish our new website that launched in October 2021. It is a priority of our Association that resources such as our Best Practice Library and Associate Member Directory are not only easy to navigate but provide relevant and useful information to all bankers. At the request of our members, the team has also developed a range of consumer resources which banks are encouraged to utilize in their own outreach and education of consumers.
Of course, the success of our Association does not stop at the efforts of our team. As a member-driven association, WBA is wholly dependent on the support and engagement of our members and our accomplishments this calendar year would not be without the direct involvement of you!
In the last year, banks across the state have individually demonstrated many achievements. However, I am quite proud that many bankers, in addition to the work they do in their own organization, have volunteered their time and talents in several key ways with WBA. This year, over 100 bankers attended WBA’s annual Capitol Day, around 140 bankers participated in a WBA committee or section, and 130 bankers reported taking part in financial education programming.
Once again, thank you for your continued involvement and support of the WBA. This year’s accomplishments would not have been possible without the valuable input and engagement from each of our members. I wish you all Happy Holidays and look forward to working together with you in the new year!
The following is a brief interview between WBA President and CEO Rose Oswald Poels and Bank of Milton President Dan Honold.
Rose: How did you first get into the banking industry?
Dan: After graduating from the University of Wisconsin–Madison, I was hired by the Federal Land Bank Association of Janesville. I was an ag real estate lender, and I managed the Elkhorn branch. After working there for two and a half years, I was contacted by a job recruiter who asked if I would be interested in interviewing for a job at the Bank of Milton. Remember that in 1987, we didn’t have cell phones or the internet with Google Maps, so I had to pull the Wisconsin map out of the glove box in my car to see where Milton was! I was offered the job as vice president at the Bank of Milton, took over as president in 1995, and now have been with the bank for over 35 years.
What is your favorite aspect of your role at your bank?
As bankers, we are financial counselors. There is nothing more gratifying than having a bank customer come to you with a financial issue and being able to help put them in a better position financially than they were in before meeting with you. The end result is a customer for life.
What do you wish the general public understood about the banking industry?
My pet peeve is when a customer says you have “bankers’ hours.” I really don’t think the general public has any idea of how many hours a community banker must work to do their job and be successful.
Where do you believe the industry’s greatest challenges are in the next three to five years?
The greatest challenges for bankers over the next 3–5 years will be how to attract and understand the needs and wants of our younger generation. With the technology that is available to them, the way of doing traditional banking is changing at a fast pace. Every day, bankers serve their local communities by helping their customers achieve their financial dreams.
Please describe your current role at your bank and share with us one of your more rewarding experiences.
Over the past 35 years, not only have I been involved with the day-to-day operations of our bank, but I have had the pleasure of serving in over 20 volunteer roles with various community organizations and nonprofits. I believe that, as community bankers, we need to make a difference in the communities we serve.
One thing that I take great pride in is having been a youth coach for basketball and soccer for the Milton School District for 20 years and coaching over 400 kids in that time frame. I am very passionate about our youth, and I feel that it is very important that we help prepare them for their future.
I had one situation a few years back where a young girl that I coached came to me for help regarding her homelife. As her parents struggled to provide for her and her three younger siblings, my wife and I stepped up to help the family out by providing food, clothing, and making the necessary repairs to their home so that the kids could stay there.
When the girl reached high school, I hired her at the bank to earn money for college. She is currently in college and has a great outlook on life.
By Rose Oswald Poels
Last week, bankers from Wisconsin and Illinois traveled to Washington D.C. together for in-person meetings with banking regulators. This trip, organized for the last 11 years by WBA, has for the last two years also welcomed bankers from Illinois.
I have always found this trip to be productive given the intentionally smaller group of bankers who attend and the senior level officials who meet with us. This year was no exception!
Like visits to Washington D.C. to meet with our elected officials, meetings with regulators do not result in meaningful, visible change overnight. However, if we don’t share the stories demonstrating the impact that regulations have on banking operations and consumers in the Midwest, their perspective is only what they know and see in Washington D.C. As the burden of federal regulations remains substantial on banks, it is critical that we continually advocate so to lessen the impact.
This year, our primary list of issues included small business data collection (1071 Rule), NSF/representment of checks and UDAAP (Unfair, deceptive, or abusive acts and practices), overdraft programs, deposit insurance assessment rates, CRA, and the definition of tangible equity capital in Federal Housing Finance Agency (FHFA) rules.
Our group had several meaningful conversations over the short two-day trip with senior officials from the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and FHFA, as well as with Director Chopra from the Consumer Financial Protection Bureau (CFPB). During these conversations we learned it is likely that both the final CRA modernization rule and the 1071 rule would be issued at around the same time; however, there could be a phased-in implementation period for 1071.
The general counsel for FHFA heard from several of us in attendance regarding the very real and negative impact the current definition of tangible equity capital could have on community banks’ ability to borrow from the Federal Home Loan Banks and promised to share this impact with decisionmakers starting that afternoon. Overall, I was very pleased with the active involvement of the bankers during the meetings and the level of engagement we had with the various regulators.
I would like to thank the following Wisconsin bankers for joining me and WBA’s Vice President – Legal Heather MacKinnon on this trip:
- WBA Chair Dan Peterson, Stephenson National Bank and Trust in Marinette
- Al Araque, Johnson Financial Group in Racine
- PJ Childers, Crossbridge Community Bank in Tomahawk
- Kristen Gagliano, North Shore Bank in Brookfield
- Corey Hoze, Associated Bank in Milwaukee
- Mark Oldenberg, Security Financial Bank in Eau Claire
- Terry Rosengarten, Unity Bank in Augusta
- Theresa Wiese, First Business Bank in Madison
I would also like to thank Dave Feldhaus from the FHLBank of Chicago for joining us on this trip and the FHLBank of Chicago for sponsoring our dinner.
If you are interested in joining WBA on its annual regulatory advocacy trip in October of 2023, please let me know. As you can tell, we accomplish a lot in a short period of time and your continued advocacy for our industry makes the greatest impact in ushering the movements most important to our communities.
The following is a brief interview between WBA President and CEO Rose Oswald Poels and Community Bank, Grantsburg President Ted Gerber.
Rose: How did you first get into the banking industry?
Ted: My family was involved in many businesses, including banks, in northwestern Wisconsin when I was growing up. Banking seemed the most interesting to me, so I pursued a degree in finance and started working for Norwest Bank in St. Paul, Minn. as a credit analyst. After a few years, my grandfather Franz and father Terry were interested in opening a branch in Grantsburg, Wis. and asked me to be the branch manager.
What is your favorite aspect of your role at your bank?
I love working with small business customers — they are the heart and soul of our economy, especially in rural areas. Helping them succeed is good for business, but it is also great for our communities. Beyond that, I respect and admire the dedication it takes to run your own business and really enjoy lending a helping hand.
What do you wish the general public understood about the banking industry?
Not all banks are the same. While many times the products we provide are very similar, how we deliver those products can be vastly different. Two banks across the street from each other might have vastly different philosophies on technology, underwriting, service, etc. I think the general public assumes we are all the same on everything, and that couldn’t be further from the truth.
Where do you believe the industry’s greatest challenges are in the next three to five years?
Like all bankers, I worry about credit union expansion, data breaches, and non-bank competition, but perhaps my biggest fear is regulatory overreach. I believe there is a segment of the government bureaucracy that thinks charging for financial services is inherently wrong. It seems as though banks are an easy target as the regulatory framework is already in place to enforce whatever perceived “wrong” they want us to correct. Holding the line on regulation will be key to our industry going forward.
Every day, bankers serve their local communities by helping their customers achieve their financial dreams. Please describe your current role at your bank and share with us one of your more rewarding experiences.
I believe that all of us have talents, and the best way to serve our community is to share those talents with others. As president of the bank, it is my responsibility to set a good example.
My passions are business and baseball. Not surprisingly — like almost every other small-town banker — I’ve served as treasurer for many organizations over the years, from the local chamber of commerce to our town’s industrial development company. I have also coached baseball at the youth and high school levels in Grantsburg for over 20 years.
Watching the boys I coached grow into men has been incredibly rewarding. Recently, I was helping with a youth practice and told a youngster that his swing looked like a guy I used to coach. He smiled and said, “That’s my dad, he told me you were going to say that.” That smile and comment (and the slap on the back I got from his dad after practice) are one of the many memories that show you get back much more than you give when you share your talents.
Senator Eric Wimberger visited The Stephenson National Bank & Trust (SNBT) Thursday afternoon and discussed a wide variety of topics including the housing market, card processing, and elder fraud protections. This visit was part of an outreach program that helps lawmakers learn more about the banking industry by visiting a community bank.
“We are fortunate that Senator Wimberger took time to visit our bank and learn more about how we operate,” said Daniel J. Peterson, SNBT President & CEO. “His thoughtful approach to listening to better understand the regulations and risks that come with the financial world was refreshing.”
Wimberger, who is currently serving Wisconsin’s 30th Senate District, is a Wisconsin native who was born and raised in DePere, Wis. He graduated from St. Cloud University and eventually received his JD degree from Marquette University Law School. Afterwards, he served in the U.S. Marine Corp as a Captain in the Judge Advocate Division. Upon his return from military service, he started a local law practice and was recognized as a “Super Lawyer Rising Star.” Wimberger (R-Green Bay) was elected to the State Senate in 2022, replacing retired State Senator Dave Hanson (D-Green Bay). He chairs the Senate Committee on Veteran and Military Affairs and Constitution and Federalism and is Vice Chair of the Senate Committee on Judiciary and Public Safety.
To kick off the visit, Wimberger sat down with the bank employees and discussed day-to-day operations at SNBT. The senator and bank staff discussed banking issues such as various regulations, labor market and inflation, the current interest rate cycle and the role that community banks play in maintaining a strong local economy.
Peterson then led the senator on a tour of the bank, including the bank’s 100-year-old vault. Peterson stopped to note that SNBT founder, Isaac Stephenson was also a U.S. Senator representing Wisconsin for two terms beginning in 1907.
The Stephenson National Bank & Trust is a 147-year-old independent community bank with over $1.5 billion in Bank, Mortgage, and Trust & Investment assets under management. Offices are located in Marinette, Wausaukee, Crivitz, Pembine, and Oconto, Wis. and Menominee, Mich. with a Trust & Investment Office in Marquette, Mich. and a Commercial Loan Services Office in Green Bay, Wis. For more information about The Stephenson National Bank & Trust visit www.snbt.com.