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Archive for category: Community

Community, Resources

From The Fields: Rising Interest Rates and Their Effect on Production Agriculture

By Lance Lansing, Wisconsin Bank & Trust

While many of us were alive when interest rates reached the record high of 20% in March of 1980, not many of us were in lending at that time. According to bankrate.com, the inflation rate at the time was 14.6% and Fed used their main tool and increased interest rates to combat inflation. As a result, the U.S. central bank manufactured a recession to bring prices back down. Although I have never claimed to be an economist (or played one on TV), it does not take a Harvard grad to see that the Fed is once again using its main tool to combat inflation. The current Fed, instead of wielding a sledgehammer on rates, is much more subtle by slowly and gradually moving rates in one direction. However, desperate times…etcetera.

The Fed has chosen to raise interest rates six times over the past year with four straight three quarter point increases pushing borrowing costs to a new high since 2008. The March 2022 hike of a quarter point was the first hike since 2018. The Fed has chosen to raise interest rates with the objective of reducing the total amount of money circulating through the economy, called the money supply. The Fed also tries to control the money supply through quantitative easing, which is the process of buying and selling Treasury Department backed assets. Both tools are used by the Fed to try to reduce inflation. Inflation can be caused by many factors. It is generally the result of too much demand and insufficient supply, leading to high prices. Many people received excess funds during the pandemic and along with supply chain disruptions, this has resulted in rising demand for items, an inability to get those items and an increase in the cost for those items.

A Fed manufactured recession will affect us all in many ways personally and professionally. High inflation and rising interest rates will likely erode a farm business’ liquidity. While our producers have been paying attention to the increase in commodity prices and resulting revenue, they have also noticed the quickly rising input costs due to increased inflation. Should commodity prices start to decline, costs may remain elevated and be slow to go down. Profit margins will be compressed, and some may even become negative. The Ag economy will see new risks with the rising interest rates and input costs. The direct impact on farmers that are borrowing money will be significant. For example, a line of credit that has risen 3.75% from 4.75% to 8.5% since March of 2022 with an average balance of $1,000,000, will require a monthly interest payment of $7,083 vs. $3958, adding an additional $37,500 per year interest expense to their cash flow. This will, of course, impact repayment capacity, liquidity, and depending on the operation, increase cost of production to a level that will compress margins and seriously impact their operation’s profitability.

Many operations chose to increase their liquidity during the pandemic through higher commodity prices and government program payments to pay down dept. However, rising input costs and possible tax liability will increase demand for short-term borrowing. With the increased demand of short-term loans comes the risk of increased variable rates. If margins compress, more operations will seek out loans to compensate for the short falls.

Another risk from higher interest rates is the impact on expansion. When a neighbor’s farm comes up for sale, the cost per acre of owning that land has jumped significantly. A loan early in 2022, with a fixed rate at 4.25% over a 20-year amortization would now hold an interest rate of 8%. Most producers would be tempted to jump at an opportunity to buy 100 acres of adjacent land for $10,000/acre. Since most operations are asset rich and cash poor, the producer in this example will opt to finance 100% of the purchase. The total cost of $1,000,000 for 100 acres, would equate to an annual cost per acre of $747 at 4.25% vs. $1,012 at 8%. This $265 cost per acre increase would impact repayment capacity and margin. The impact of record high land values and increase in interest rates may result in producers passing on expansion opportunities and focusing on deleveraging and positioning themselves for a change in the economy.

Producers and lenders will be affected by the rate increases in several ways. The profit margins for both could be adversely affected as well as the number of opportunities for new loans and growth. Navigating this time will depend on how much higher the rates will increase and for how long before a hiccup in the economy brings them back down.

Lance Lansing is vice president of commercial and ag loans with Wisconsin Bank and Trust in Monroe. Lansing also currently serves on the WBA Agricultural Bankers Section Board of Directors.

 

January 31, 2023/by Lori Kalscheuer
https://www.wisbank.com/wp-content/uploads/2021/10/istock-175471771-economy-2.jpg 500 810 Lori Kalscheuer https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Lori Kalscheuer2023-01-31 08:04:202023-01-31 08:04:20From The Fields: Rising Interest Rates and Their Effect on Production Agriculture
Community, Member News, News

Wolf River Community Bank Announces Promotions to Executive Team

Wolf River Community Bank has announced several promotions within their organization:

Janelle Donaldson

Janelle Donaldson has been promoted to assistant vice president – deposit operations manager. She now manages the deposit operations and electronic banking team. Donaldson directs retail operations, including procedures management, new account and maintenance reviews, document archiving, and deposit origination processes. She also oversees the electronic banking functions, such as treasury management, ACH Origination, debit cards and disputes. Donaldson has been with Wolf River Community Bank for over a year and a half. She brings significant knowledge and skills from her 30 years of banking experience in retail, deposit operations, and electronic banking. She has a Bachelor of Science in Business Administration/Marketing from Bemidji State University in Minnesota and has lived in the Fox West area for over 30 years. She has an AAP designation as an accredited ACH Professional in the payments industry.

Amanda Hayden

Amanda Hayden has been promoted to treasury management officer. In this new role, Hayden will be responsible for growing the bank’s treasury management product line as well as acquiring and expanding deposit relationships with new and existing business clients. Hayden came to Wolf River Community Bank a year ago as a relationship banker and grew into this new role with her extensive experience in treasury management, which will help the bank’s commercial customers efficiently manage and protect their money. Hayden is a lifetime resident of the Fox West area. She is a past member of Appleton Area Jaycees and a current member and president of BNI Fox West.

Elise Lundt

Elise Lundt has been promoted to assistant vice president – accounting manager. Lundt manages the accounting department in addition to the Bank Secrecy Act (BSA) process and other government requisites for national banks. She organizes, directs and leads the daily accounting operations, ensures accurate and timely reporting of financial and operational metrics, and oversees the accounting specialists’ team. Lundt holds a Bachelor of Science in Economics from the University of Wisconsin – Eau Claire. She has years of experience in management and has been with Wolf River Community Bank’s accounting department for over ten years. Lundt currently lives in Clintonville and is on the Board of Directors for the Clintonville Area Swim Team.

Miranda Schultz

Miranda Schultz has been promoted to senior vice president – chief financial officer. Schultz joined Wolf River Community Bank as chief financial officer over four years ago, and most recently was vice president – chief financial officer. This promotion recognizes her role as information security officer, her position on the executive committee of the bank, as well as her executive-level responsibilities in accounting/finance, deposit operations, card operations, information technology, and vendor management. She has over 15 years of financial institution experience with various institutions and was a regulator with the Wisconsin Department of Financial Institutions and an auditor with an accounting firm. Schultz holds a Bachelor of Science in Mathematics from Ripon College and a Bachelor’s in Accounting from Lakeland College. She graduated from the Graduate School of Banking at the University of Wisconsin-Madison and received a Certificate of Executive Leadership from Wisconsin School of Business Center for Professional and Executive Development. She serves as the treasurer on the board of directors for Solutions Recovery in Oshkosh.

“Due to the growth and success of our institution, we are excited to announce the advancement of key players within our organization,” said Joe Peikert, president/CEO of Wolf River Community Bank. “Not only are these promotions well deserved, but the advanced organizational structure will also allow the bank to handle the growth that we’ve experienced and our expansion into the future.”

January 31, 2023/by Hannah Flanders
https://www.wisbank.com/wp-content/uploads/2021/09/Untitled-3_Blue.jpg 972 1920 Hannah Flanders https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Hannah Flanders2023-01-31 07:00:532023-01-30 22:19:33Wolf River Community Bank Announces Promotions to Executive Team
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Community, Member News, News

First Business Bank Promotes Two in Treasury Management

First Business Bank is pleased to announce the promotions of Alicia Anderson to vice president – treasury management and Marlee Jorgensen to assistant vice president II – treasury management.

Alicia Anderson

For more than eight years, Anderson has dedicated herself to helping First Business Bank’s local business and non-profit clients in the southeast Wisconsin market. She has more than 20 years of financial services experience with a focus on deposit strategies, mitigating the risk of fraud, and creating efficiencies through process improvements to maintain a positive cash flow and improve the bottom line. Anderson works to achieve a comprehensive understanding of each company’s cash flow cycle, receivables collection, payables process, and how they can reduce the risk of fraud.

She holds a Bachelor of Arts degree from the University of Wisconsin-Milwaukee, has a General Banking & Small Business Banking diploma from the American Institute of Banking, and is a graduate of Leadership Waukesha County.

Anderson is actively involved in the community and currently serves on a variety of boards, including as Immediate Past President of Women for MACC (Midwest Athletes Against Childhood Cancer), Director of the MACC Fund (Midwest Athletes Against Childhood Cancer), and Treasurer of Our Next Generation (ONG). She is an ambassador for the United Performing Arts Fund (UPAF) and the Vince Lombardi Cancer Foundation. She actively volunteers her time with several not-for-profit organizations including The Women’s Center, the Ronald McDonald House, Positively Pewaukee, Habitat for Humanity, as well as Homes for Our Troops.

Marlee Jorgensen

Jorgensen, who has more than eight years of experience in financial services, helps business leaders implement a full range of treasury management solutions while focusing on delivering high-touch, personal service.

Jorgensen attended the University of Minnesota-Duluth where she earned a bachelor’s degree in Communication and Business Administration. She is actively involved with the American Heart Association, the Madison Area Sports Commission, and serves on various committees for other community organizations.

January 31, 2023/by Hannah Flanders
https://www.wisbank.com/wp-content/uploads/2021/09/Triangle-Backgrounds_Lime-Green.jpg 972 1921 Hannah Flanders https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Hannah Flanders2023-01-31 07:00:422023-01-30 22:32:20First Business Bank Promotes Two in Treasury Management
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Community, Member News, News

Radulovich Joins PyraMax Bank

Steve Radulovich has joined the PyraMax Bank team as a senior vice president – commercial lending officer. Mr. Radulovich has 20 years of banking experience and received his undergraduate degree in math and business from Ripon College.

January 31, 2023/by Hannah Flanders
https://www.wisbank.com/wp-content/uploads/2021/09/Triangle-Backgrounds_Yellow-on-Light-Blue.jpg 972 1921 Hannah Flanders https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Hannah Flanders2023-01-31 07:00:032023-01-30 22:25:28Radulovich Joins PyraMax Bank
Community, Member News, News

Tews Joins State Bank of Reeseville

Dana Tews

State Bank of Reeseville and the Board of Directors are pleased to announce that Dana Tews joined the #StateBankTeam as vice president – bank operations. Tews began her journey with us on November 7, 2022. As vice president – bank operations, Tews is responsible for planning, organizing, directing, and controlling the day-to-day operations of the bank’s information and data processing, as well as providing vital input on the big-picture updates and modifications to expand the bank’s abilities and efficiencies.

Tews grew up local, on a family farm just north of Waterloo. In February 2014 she joined State Bank of Reeseville. In 2017, Tews married her husband and moved from the area. Tews and her husband have a beautiful 2-year-old daughter along with a very energetic 4-year-old yellow Labrador. Tews loves to travel with her family, cook, bake, and spend time outdoors. “I am excited to rejoin the State Bank of Reeseville Team,” says Tews. “I didn’t know it back in 2014 but it was the start of my career, I found my passion for banking, and with my professional travels, this did lead me back to my roots. I look forward to serving our State Bank communities.”

Tews has a rich breadth of banking and financial knowledge with over 8 years of experience in the field. Tews and her proficiency in the field will support the bank as we navigate through our fast-paced and everchanging economy. Tews’ background as a manager, combined with a deep passion for promoting community-based initiatives, will help to further advance the mission of State Bank of Reeseville.

“We are excited to welcome Dana back to our bank as our new vice president,” says Jerry Adams, State Bank of Reeseville president & CEO. “She brings experience, enthusiasm, great communication skills, and a sound addition to our organization. We feel very blessed to have her and look forward to a successful 2023.”

January 30, 2023/by Hannah Flanders
https://www.wisbank.com/wp-content/uploads/2021/09/Untitled-3_Light-Blue.jpg 972 1920 Hannah Flanders https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Hannah Flanders2023-01-30 08:23:262023-01-30 08:23:26Tews Joins State Bank of Reeseville
Community, Member News, News

Arndt, Quinnell, & Weiland Reelected to Prevail Mutual Holdings, Inc. Board

Dr. Perry Arndt

Prevail Bank is pleased to announce that Dr. Perry Arndt, Nathan Quinnell, and William Weiland were voted in by membership to continue in their roles as Board Directors of Prevail Mutual Holdings, Inc. for the next three years.

Nathan Quinnell

The Annual Meeting of Prevail Mutual Holdings, Inc. took place January 18, 2023 where Rhonda Kelley, Inspector of the Election, confirmed that directors Arndt, Quinnell, and Weiland were reelected. Prevail Mutual Holdings, Inc. was established in August 2022, when Prevail Bank reorganized from a Mutual Savings Bank to a Mutual Holding Company (MHC). The reorganization, approved by a Special Meeting of Members, the OCC, and the Federal Reserve Board, provides the bank more growth capabilities and opportunities.

William Weiland

Dr. Perry Arndt is a long-time respected resident and optometrist in Medford, Wisconsin. Actively involved in many pivotal organizations, he was recently awarded the Medford Area Chamber of Commerce’s Lifetime Achievement Award.

Nathan Quinnell started his financial career in 2005 as a credit analyst for River Cities Bank, ultimately working his way to the position of CEO. Today, he is Prevail Bank’s President.

William Weiland, active Lions Club member and philanthropist, is Prevail Bank’s retired CEO.

Other members of the Prevail Mutual Holdings, Inc. Board are: Dean Carter, Jeannie Deml, Gregory Krug, Mark Scheunemann, and Michael Schaefer.

January 30, 2023/by Hannah Flanders
https://www.wisbank.com/wp-content/uploads/2021/09/Untitled-3_Lime-Green.jpg 972 1920 Hannah Flanders https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Hannah Flanders2023-01-30 08:14:412023-01-30 08:15:19Arndt, Quinnell, & Weiland Reelected to Prevail Mutual Holdings, Inc. Board
Community, Member News, News

Bank of Wisconsin Dells Welcomes VP – Commercial Loan Officer

Bank of Wisconsin Dells is pleased to announce the hiring of Ethan Giebel as vice president and commercial loan officer at the Wisconsin Dells branch. Giebel grew up in Lyndon Station and brings over five years of financial experience to the team. He will be working with our local communities and developing business relationships.

Giebel currently resides in Lyndon Station and is excited to build relationships through his work. He enjoys watching businesses experience growth and success, and the resulting impact it has for the surrounding communities. In his spare time, Giebel enjoys spending time with family and friends, traveling, and exploring the outdoors.

January 30, 2023/by Hannah Flanders
https://www.wisbank.com/wp-content/uploads/2021/09/Untitled-3_Yellow.jpg 972 1920 Hannah Flanders https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Hannah Flanders2023-01-30 08:03:382023-01-30 08:03:38Bank of Wisconsin Dells Welcomes VP – Commercial Loan Officer
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Community, Education, Member News, News

Strasser Joins GSB-Wisconsin Sales & Marketing School Faculty

Kathy Strasser, EVP – chief operating officer/chief information officer of IncredibleBank in Wausau, will join the faculty of the Sales and Marketing School — a specialty school offered by the Graduate School of Banking at the University of Wisconsin – Madison.

The school — especially designed for marketing, sales, business development and senior managers in banking — has received top marks from past participants and will be next held September 25–29, 2023, at the Fluno Center, in Madison.

Strasser joins a vibrant faculty led by program coordinator Jack Hubbard, chief experience officer of Jack Hubbard Consulting in Elgin, Illinois. “We are very excited that Kathy will be sharing her many talents and great expertise with our students in September,” said Hubbard.

Strasser, who also serves on the faculty of the GSB Digital Banking School, expressed enthusiasm about the opportunity to participate in the Sales and Marketing School.

“Community banks are the backbone to the communities that we live and serve in and are vital to the overall economy, which is why I’m excited to be part of the faculty at the Graduate School of Banking in Wisconsin. GSB continues to develop leaders for today and tomorrow, ensuring continued success of community banks,” said Strasser, adding “With the market and technology changing faster than ever, as a member of the faculty, my goal is to helping bankers think differently and move faster, leveraging examples from our ongoing evolution and success at IncredibleBank.”

Enrollment is currently open for the 2023 Sales and Marketing School; for details and online application, visit wisbank.com/events/gsb-sales-and-marketing-school.

January 27, 2023/by Hannah Flanders
https://www.wisbank.com/wp-content/uploads/2021/09/Triangle-Backgrounds_Blue-on-Lime-Green.jpg 972 1920 Hannah Flanders https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Hannah Flanders2023-01-27 07:50:032023-01-27 07:50:03Strasser Joins GSB-Wisconsin Sales & Marketing School Faculty
Community, Member News, News

North Shore Bank Makes Leadership Changes as It Looks to the Future

Jay McKenna

North Shore Bank, celebrating its centennial anniversary in 2023, has announced a new CEO to lead the community bank into its next century. Jay McKenna, previously president and COO of North Shore Bank, has been named president and CEO effective immediately. Former CEO, Jim McKenna, will continue to serve as the bank’s executive chairman.

Jay McKenna began his career at an international accounting firm, and started at North Shore Bank as vice president of finance in 1999. Under his leadership while vice president, chief financial officer, and president and chief operating officer, he has played an instrumental role in the growth and success of the bank.

“I’m honored to be named CEO during such a momentous time for North Shore Bank as we celebrate our 100th Anniversary. Thanks to our incredible employees, we are stronger than ever, and we look forward to continuing to evolve our offerings to meet our customers’ and communities’ needs,” said Jay McKenna.

Jay McKenna, 54 years old, currently serves on the boards of the Zoological Society of Milwaukee as immediate past chairman and Cristo Rey Jesuit High School of Milwaukee. He previously served on the boards of Marquette University High School and the Wisconsin Bankers Association (WBA). He has received the Zoological Society’s Emu Egg Award and Marquette High’s Alumni Service Award for his commitment and service. He is a member of the AICPA and WICPA, and is a graduate of Marquette University.

January 27, 2023/by Hannah Flanders
https://www.wisbank.com/wp-content/uploads/2021/09/Triangle-Backgrounds_Dark-Blue-on-Light-Blue.jpg 972 1921 Hannah Flanders https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Hannah Flanders2023-01-27 07:43:342023-01-27 07:43:34North Shore Bank Makes Leadership Changes as It Looks to the Future
Advocacy, Community, News

High-Volume SBA-Approved Wisconsin Lenders to Receive FY22 Awards

The U.S. Small Business Administration’s (SBA) Wisconsin office is recognizing 14 lenders in 15 volume and specialty categories for FY2022, the twelve months ending Sept. 30, 2022. With total SBA-backed FY22 lending in Wisconsin reaching more than $789 million, community lenders again played a strong role with 12 of 15 awards going to Wisconsin-based lenders. For the first time, CAP Services, based in Stevens Point, made the most microloans of the six microlenders serving Wisconsin. The Wisconsin Women’s Business Initiative Corp (WWBIC), made the most SBA Community Advantage loans as one of five lenders statewide offering these loans at up to $350,000 to disadvantaged borrowers. WBD, Inc., made 297 SBA 504 loans for $255 million. U.S. Bank made the highest number of 7(a) loans, while Byline Bank loaned the highest dollar amount.

“SBA-backed lending in Wisconsin saw its second highest level in recent years with $789 million delivered to small business owners through SBA’s core lending programs in FY22. While a drop from the more than $1 billion in loans last year, lenders are still delivering much needed capital to Wisconsin’s startups and more seasoned entrepreneurs,” stated Eric Ness, SBA’s Wisconsin district director. “These high-volume lenders showcase the importance and continued availability of SBA-backed financing for small businesses at all stages of growth through Wisconsin’s many commercial and community banks, credit unions, CDC’s, CDFI’s, and other financing institutions.”

A complete list of Wisconsin’s SBA-approved lenders, along with daily updates and history on 7(a) and 504 SBA lending activity in Wisconsin, is available on the SBA Wisconsin website at sba.gov/wi under “Doing Business in our Area.”

The SBA will recognize its volume lenders at the 2023 Wisconsin Lenders Conference hosted by UW-Stevens Point on May 18. Find more information about the conference here.

Congratulations to several WBA members that will be receiving an award:

Wisconsin SBA Volume Lender Awards

  • Cleveland State Bank
  • First National Community Bank, New Richmond
  • Oostburg State Bank
  • Hiawatha National Bank, Hager City
  • Citizens Community Federal National Association, Altoona
  • Byline Bank, Brookfield

Wisconsin SBA Specialty Lender Awards

  • Ixonia Bank: Most Veteran 7(a) Loans Approved
  • Byline Bank, Brookfield: Most 7(a) Export Loans Approved
  • Nicolet National Bank: Most 504 Loan Participations
  • WBD, Inc., Madison: Most 504 Loans Approved
  • WWBIC, Milwaukee: Community Advantage Lender with Most Loans Approved
January 27, 2023/by Hannah Flanders
https://www.wisbank.com/wp-content/uploads/2021/09/Triangle-Backgrounds_Light-Blue-on-Green.jpg 972 1920 Hannah Flanders https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Hannah Flanders2023-01-27 07:36:342023-01-27 07:36:34High-Volume SBA-Approved Wisconsin Lenders to Receive FY22 Awards
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  • Wolf River Community Bank Announces Promotions to Executive Team
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  • Tews Joins State Bank of Reeseville

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