Archive for category: Education

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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.

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New Ways to Engage in 2023

By Daniel J. Peterson

For the last 130 years, the Wisconsin Bankers Association (WBA) has provided banks across our state strength and security in times of challenge, and in turn, thousands of bankers have had the ability to prosper in their careers and equip Wisconsinites for financial success. As our industry continues to evolve, one thing has remained the same — WBA’s mission to advocate for, educate, and support bankers.

In January, I reach the halfway point of my time as chair of the WBA. As I look back upon all that we have accomplished so far this fiscal year, I anticipate many members will continue to find more opportunities to expand their capabilities through their involvement with our Association.

While the WBA staff does an excellent job working on our behalf, the WBA is a member-driven association that requires input and participation in order to best serve each of its members. Our success as an organization is not possible without you!

This fiscal year, our Association has prioritized engagement in order to foster the continued growth of Wisconsin’s banking industry. Between new, high-quality, and relevant programming and resources such as the recently formed diversity, equity, and inclusion (DEI) employee resource group (ERG), Wisconsin bankers of all experience levels have the opportunity through their membership to gain valuable knowledge and connections unlike anywhere else.

This year, I encourage bankers to find something that is of interest to them. Whether it be taking part in the hundreds of educational programs offered each year for the benefit of your professional development; joining a committee, section, or Connect group to share your perspective and meet peers; or volunteering to advocate for our industry as an Advocacy Officer — the opportunities to make the most of your membership this year are vast!

Thank you all for your continued support of our Association and helping us to successfully shape our industry for the benefit of all banks and the communities they serve. I look forward to working alongside each of you this year to continue to develop our teams, expand our connections, and make 2023 another successful year for Wisconsin’s banking industry.

Peterson is president and CEO of The Stephenson National Bank & Trust, Marinette, and the 2022–2023 WBA Chair.

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2023 WBA Bank Executives Conference

February 8–10, 2023 | Kalahari Resort & Convention Center, Wisconsin Dells

Bank Executives Conference Banner

By Hannah Flanders

The Wisconsin Bankers Association (WBA) is excited to announce that the annual Bank Executives Conference will reconvene at the Kalahari Convention Center in Wisconsin Dells this February 8–10. As the largest gathering of bank leaders in the state, this year’s event will focus on bringing leaders “All In” for the benefit of their bank, community members, and industry.

Executive-Level Education

Each year, WBA’s Bank Executives Conference is regarded as the state’s premier gathering of banking professionals and national experts — the 2023 event
will be no different!

In combining programming tailored to the specific needs of banking leaders in Wisconsin with various trending topics sure to impact our industry, bankers will have the opportunity to arm themselves with the resources and knowledge to remain relevant and resilient for years to come.

Heyburn_Virginia

Virginia Heyburn

This year’s opening general session on February 9 will feature Virginia Heyburn, director of research, insights, and advocacy at Engage fi, LLC. As innovation and technology remain at the forefront of our industry’s efforts to engage individuals in the financial services, Heyburn will highlight the possibilities of FinTech partnerships as banks look to develop new revenue channels and reach customers in today’s world of rapidly changing competition.

After the general session, WBA will host its first FinTech Showcase. Bankers can expect to see eight FinTech products, ranging from solutions for digital banking and artificial intelligence (AI) to security, demonstrated live by various companies including Accrue, La Macchia Group, DocFox Inc., Kapitalwise, Inc., KlariVis, LemonadeLXP, Sequertek, and Zogo Finance. Following short presentations, bankers will have the opportunity to connect with these exhibitors, and more than 60 others, to learn more about their solutions and how FinTech will bring the bank into the future.

Brett King

Brett King

On Friday, February 10, four-time bestselling author and renowned futurist, Brett King will present the keynote session “The Big Shift: How Customer Behavior & Technology Will Change the Future of Retail Financial Service.” King, voted as American Banker’s Innovator of the Year in 2012 and a regular contributor to The Huffington Post, will highlight why customer behavior is so rapidly changing and why banks must reinvent themselves or face irrelevancy.

With over ten hours of general and breakout sessions spread across the three days — there will certainly be something of interest for every bank leader. For more details on programming and to view the full agenda, please visit wisbank.com/bec.

Networking

Attendees will also have various opportunities to connect with their banking peers, WBA Associate Members, and WBA staff throughout the conference.

In addition to kicking off the conference on Wednesday evening with a networking reception in the exhibitor Marketplace, bankers are invited to arrive early on February 8 for various “banker-only” peer group discussions. The optional peer groups, beginning at 2:30 p.m., are specifically targeted at CEOs, CFOs, credit and lending professionals, and those in operations.

Recognition

WBA looks forward to recognizing various bankers who have been “All In” for their communities and for their industry — despite the unpredictability of the last several years.
In selecting the unifying theme “All In” for this year’s conference, the Association recognizes that the unity and commitment leaders and bankers across the state have, and will continue to, demonstrate are critical to the prosperity of the industry and communities all WBA-member banks serve. In this, it is important that bankers not only reflect upon their successes of the past year but look ahead to what possibilities are in store.

The conference will feature a special luncheon on February 9 during which several bankers who have dedicated a lifetime of service to the industry will be inducted into WBA’s 50- and 60-Year Clubs. In addition, the Wisconsin Banker Foundation (WBF), the Association’s non-profit arm, will present its prestigious Financial Education Innovation Award to a WBA-member bank that, during the 2021–2022 fiscal year, demonstrated unique efforts to enhance the financial capability of consumers in their community.

That evening, WBA will recognize a bank CEO or president (or an individual who has recently retired from these positions) who has made an outstanding effort throughout their career in service to their bank, to their community, and to the banking profession as the 2022 Banker of the Year.

Registration

Banking leaders regularly prove their commitment to our industry by way of their active involvement, efforts to embrace evolution, and often tenure of service. WBA’s Bank Executive Conference builds upon these important steps by providing bankers with resources, connections, and ideas for action.

Registration for WBA’s annual conference is open now! Please visit wisbank.com/bec to learn more and register today. We look forward to seeing you Wednesday, February 8–Friday, February 10 at the Kalahari Convention Center in Wisconsin Dells!

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5 Steps to Grow Your Bank’s Community Relationships in 2023!

With interest rates on the rise and a possible recession on the way, your business customers and community leaders are probably looking for some insight on the economy and expectations for 2023 and beyond. WBA has put together a virtual forum that will bring St. Louis Federal Reserve Bank President James Bullard and PNC Economist Gus Faucher right into your bank via livestream to provide their economic outlook and address audience questions. The virtual forum will take place live on Thursday, January 12 from 10:30 a.m. – Noon CT. Those who are registered will also receive access to the recording for 14 days following the live presentation.

Step 1: Make a List

Put together a list of your business customers and local community and business leaders to invite to join your bank’s team to watch the January 12 Midwest Economic Forecast Forum. Invite them to join you that morning to network with your staff and other local leaders and enjoy lunch together after the live webinar.

Step 2: Reserve a Room

Be sure to reserve a meeting room, perhaps your boardroom, training room, or a community room, to host your guests. Make sure that you have the right AV in place to be able to project or display the Zoom webinar and have speakers in place for the sound. A test run is always a good idea!

Step 3: Register Online

Register at www.wisbank.com/econ for a group registration, which includes access for up to 10 different locations. If you have customers who are unable to join you in person, or wish to watch the recording afterwards, add them as your group guests so they get the link directly in their email inbox!

Step 4: Order Lunch

Once you know how many guests to expect, order lunch to be delivered at Noon from a local caterer or restaurant! There’s no better way to support your community than supporting a local business! Don’t forget to order dessert!

Step 5: Host Your Guests!

As you prepare for your guests to arrive, consider having name badges prepared (be sure to have some blank ones available too), brew some coffee, and get some other beverages together. Designate staff to welcome your guests and direct them to the meeting room. Watch the live webinar together and then enjoy lunch while hosting a great networking event!

If you have questions or need assistance with registration, please contact the WBA Education team via email.

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Executive Letter: Society of Bank Executives Officially Launches in 2023

Rose Oswald PoelsBy Rose Oswald Poels

As I’ve shared in previous e-publications, the Wisconsin Bankers Association (WBA) is a partner in the newly created Society of Bank Executives. The initiative aims to provide bank leaders with opportunities to network and further develop the skills necessary for staying ahead of our ever-changing industry. With the new year quickly approaching and official membership beginning this spring, now’s the time for bank leaders across the state to make a resolution to continue developing their own personal key leadership skills.

This past fall, bankers around the U.S. were invited to join a pre-launch session focused on the challenges related to “Trust and Team Building.” Ultimately, over 120 bankers from across 13 states, including several from Wisconsin, were provided with the opportunity to get a head start with the Society and gain invaluable connections with banking peers while also focusing on their own professional development.

Officially, the Society is set to launch in January 2023, so now’s the time to take full advantage of accelerated leadership programming uniquely targeted at executive–level bankers.

In the new year, Society members can expect two four-month programs focusing specifically on issues developing professional and personal skills. The spring 2023 session will assist bank leaders in developing, enhancing, and nurturing the culture of their bank. With talent attraction and retention becoming a key priority for business leaders across the state, this session is sure to provide the knowledge and action items WBA members can put into practice within their bank.

The second development session, to be hosted in the fall of 2023, will focus on strategy and helping bank executives build internal processes and structures for future success.

I encourage all WBA-member banks to take this unique opportunity to register an individual or team from your bank to access the unique resources offered by the Society. The WBA’s commitment remains firm in ensuring every WBA member has access to the education and training to prosper, the Society’s distinctive ability to cross markets and connect bankers throughout the country is unlike any other leadership seminar.

Between the three 60–90-minute self-paced seminars that are available on demand and one in-person networking retreat per session, bankers are sure to find value in every event. To learn more about the Society and to join, please visit executives.bank/home. Please also note that a discount of 25% for the first two years is available through December 31, 2022.

Become a Society Member

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Executive Letter: Reflecting on WBA’s 130th Year

Rose Oswald PoelsBy 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!

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Join Us at the Bank Executives Conference in February

By Daniel J. Peterson

I would like to formally invite all WBA-member banking executives and leaders in Wisconsin to join me at WBA’s Bank Executives Conference. As Wisconsin’s largest gathering of bank executives, this premier event offers nationally recognized speakers, expert knowledge on relevant leadership and banking topics, and various opportunities to network among peers.

This year’s conference will be held February 8–10 at the Kalahari Convention Center in Wisconsin Dells. Featuring several general and breakout sessions, banker-only peer groups, and recognition of several prestigious awards — there will no doubt be something of interest for every leader in your bank.

The unifying theme of the 2023 Bank Executives Conference will be “All In.” As many of us reflect upon the unpredictability of the past several years, I encourage you and your executive team to identify the ways in which your bank has demonstrated its commitment to the industry and communities you serve.

Although the banking industry continues to evolve, Wisconsin bankers have time and time again proven themselves vital to the prosperity and success of their neighborhoods — as the cornerstones of our state. I look forward to reconvening in the Dells to celebrate these accomplishments and the dedication WBA members have shown no matter the circumstance.

As innovation and technology remains a focal point in our society, this year’s event will also include a FinTech Showcase. The showcase will feature live demonstrations of eight FinTech products. Following the short presentations, bankers will have the opportunity to connect with the exhibitors and learn more about their products.

Our Association stands ready to arm bankers with the resources and knowledge to stay relevant and resilient for years to come. With over ten hours of general and breakout sessions spread across the three days and networking opportunities around every corner — bank executives will leave this year’s event motivated to take action in 2023 and beyond.

I challenge each WBA-member bank to be “All In” this year, and attending the WBA Bank Executives Conference is the perfect opportunity to gain valuable knowledge, make connections, and take charge of your bank’s next challenge. Registration is open now at wisbank.com/BEC — I look forward to seeing you soon!

Peterson is president and CEO of The Stephenson National Bank & Trust, Marinette, and the 2022–2023 WBA Chair.

Register Now
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Association Update: Economic Resources Available to All Bankers

By Daryll Lund

As the last several years have proven — it can be difficult to predict exactly what the year ahead has in store. Between rising inflation, growing mortgage rates, and consumer uncertainty, communities throughout Wisconsin are looking to their local bankers for guidance and tools to prepare.

In an effort to stay one step ahead, educated, and ready to assist when called upon, it is critical that all bankers continue to lean on their peers and industry experts for reliable information and outlooks. Events such as the annual Midwest Economic Forecast Forum — presented by the Wisconsin Bankers Association (WBA) in partnership with other state banking associations — provides bankers just the setting to become acquainted with tomorrow’s economic predictions.

This year’s virtual forum will feature James Bullard, president and CEO of the Federal Reserve Bank of St. Louis, and Augustine (Gus) Faucher, chief economist at the PNC Financial Services Group. During the two-and-half- hour event, the two experts will discuss their economic insights and expectations for 2023 and beyond specifically for bankers of all levels, board members, and business clients.

Additionally, WBA’s charitable arm — the Wisconsin Bankers Foundation (WBF) — provides quarterly economic updates specifically tailored to Wisconsin bankers on banconomics.com. Compiled by UFS, Banconomics features essential economic data, research, and reports community bankers can utilize to support public and private decision-making. These quarterly reports are designed to be shared with staff, bank directors, and shareholders to assist the bank in tracking benchmarks and creating peer comparisons — undoubtedly a valuable tool to remain informed on our industry throughout the year.

While uncertainty in our daily lives remains ever present, there is no shortage of tools for bankers to gain valuable insights on economic changes as they occur. Our Association is committed to ensuring bankers in Wisconsin and throughout the Midwest not only have access to the knowledge and resources best suited to guide our community members, but for the continued prosperity throughout our industry.

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Controlling Your Bank’s Destiny

Owners of family-owned and closely held banks meet at annual strategic retreat

By Hannah Flanders

Pictured (left to right) are: Peter Wilder, Godfrey & Kahn, S.C., Milwaukee; Richard Katz, Resource Bank, DeKalb, Ill.; Paul Foy, Cornerstone Community Bank, Grafton; and Chad Kane, WoodTrust Bank, Wausau.

Across the Midwest, many banks held primarily by a single investor or family face unique challenges in their day-to-day operations and future planning. As competition rises, it is critical that there are resources and networks dedicated to closely held bank owners as they navigate internal and external pressures in an effort to determine their own fate.

“It is important that we treat these banks for what they are first — family businesses,” said Peter Wilder, attorney at Godfrey & Kahn, S.C.

As such, closely held banks must not only consider regulatory, wealth, and succession pressures that all banks must balance, but interpersonal and family dynamics in addition. While challenges throughout the industry mount and opportunities for closely held banks to use their unique position to expand, resources and education pertaining specifically to family-owned or closely held banks remain marginal.

Banking on Family

It is no secret that operating a family business requires communication. While mutual respect between family members is vital, so too is having acknowledgeable peer network and counsel who are understanding of the unique benefits and challenges owners of closely held banks face. The growth and success of a closely held organization is dependent on one’s ability to navigate family dynamics, bank strategy, and the goals of all shareholders. In having the support of the family, educated advisors, and peers that can sympathize and share their perspective, bank owners will not only have the ability to avoid unnecessary difficulties, but gain valuable knowledge to facilitate the bank’s strategic next steps.

Family-owned banks must make special considerations when dealing with wealth and liquidity, succession, and estate planning. It could be, for example, that selling stock to outside investors to raise capital is not an option or that the next generation is not widely interested in running the family business.

While closely held banks face a variety of obstacles, opportunities for these banks are expansive. For one, family banks have the advantage of relating to their family business clients. Owners of family-run banks may not only serve as trusted financial advisors to local family business, but also as a resource for navigating challenges related to such structural ownership. Additionally, the overlap between bank management and bank ownership allows closely held bank owners to maximize efficiency and minimize conflict simply because there are likely fewer non-active owners to consult for every decision.

“It takes real commitment to plan for the future of a family-owned bank,” states Richard Katz, chairman of Resource Bank located in DeKalb, Illinois. “Family-owned banks are oftentimes the conjunction of a lifetime of personal effort, family legacy, and dedication to one’s community. With careful planning — aided by dedicated professionals — it is possible to envision a bright future for generations to come.”

Strategic Success

In order to assist bankers in navigating the unique challenges and possibilities available to closely held institutions, the Wisconsin Bankers Association (WBA), in partnership with the Illinois Bankers Association (IBA) and Godfrey & Kahn, S.C., began offering the Family-owned and Closed Held Strategic Retreat in 2019.

“Issues often seen in family-owned banks are usually not covered in broader events or conferences,” stated Wisconsin’s Cornerstone Community Bank President Paul Foy. “This specific retreat allows institutions to meet with legal and regulatory experts as well as network with peers facing similar challenges.”

“The Family-owned [and Closely Held Strategic] Retreat is specifically targeted at a group of bankers that do not often have access to similar resources,” highlighted Wilder. “The retreat underscores what succession, tax, and wealth planning may look like for each generation and how this planning gives ownership groups more control over their bank’s destiny.”

This year, bankers in attendance at the Family-owned and Closely Held Strategic Retreat had the opportunity to hear from several panelists ranging from the ever-important topic of wealth to planning for the future.

Thank you to our retreat sponsors!

The event opened on Thursday, October 13 with a peer panel featuring Foy, Katz, and Chad Kane of WoodTrust Bank in Wausau. Attendees enjoyed gaining perspective from the banker panelists on why and how their families dealt with wealth transfers and the succession of the bank as it transfers to a new generation or new owners entirely.

Panelists emphasized that the intimate nature of such retreat has allowed attendees to gain a detailed understanding of how their closely held peers tackle the unique benefits and issues brought forth by closely held ownership.

The following day, Godfrey & Kahn S.C. colleagues Wilder and Jeff Billings presented on estate planning and the corresponding regulatory issues that closely held bank owners need to consider as they look ahead and transition bank ownership into new hands.

Eide Bailly’s Michael Holdren followed with an in-depth discussion on valuations specifically highlighting why closely held banks may consider a valuation; what the typical valuation process looks like; and how inflation, potential recession, reliance on net interest income, and regulatory oversight may impact the future of valuations.

The retreat concluded with an advisor panel featuring David Fritz and Patrick Marget of Executive Benefits Network (EBN); Brendan Freeman, First Business Bank; and Andrew Spillane, Godfrey & Kahn, S.C. The panel covered the role of life insurance, tax planning, and private fund investments to arm families with several resources to consider when wealth planning.

In addition to the thorough discussions and panels held at the retreat, many bankers state that the extensive networking opportunities remain the main attraction in returning each year.

“Not only are the various speakers geared specifically at closely held banks, but the intimate discussions I find myself having each year have been increasingly valuable in recognizing our goals as a family and as an institution,” said Foy.

“This event is not simply networking as you may perceive it from other events,” agreed Katz. “It’s partnership, friendship, deep connections, and the ability to share knowledge.”

Overall, the end goal of the Family-owned and Closely Held Retreat is to ensure shareholder value. From preparing the next generation for new responsibilities to understanding what options there are for those no longer keeping the business, the retreat presents bankers with an intimate setting to connect with their banking peers and other advisors who understand the intricacies of closely held banks.

“This program has been invaluable to the continued success of our bank,” stated Katz. “Its niche target has opened my eyes not only to the strategic opportunities that will benefit both the personal and professional aspects of the bank, but to the experts that are able to help us in implementing the change we wish to see.”

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Madison, WI 53718

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