Archive for category: News

Calculator and hundred dollar bills sitting on pile of wheat grain
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From The Fields: Changing the Mentality of Strategic Planning

By Ben Hertel

As the calendar has now flipped to 2026 and we all inevitably take an extra second to think about what date we’re writing on a document, it shows again how habitual a simple task becomes. Habits, by nature, are tough to break. For many, it is easy to fall back into familiar habits, after all, it is what led us to our current point in life or business.

This leads us to ask how we can help our customers break those habits and become more organized. This applies not only to their finances, but also to timely reporting that allows them to utilize those records and reports to learn from the past to apply insights to future strategic planning.

Too many farmers and business owners alike view financial record keeping as a task completed solely to pay Uncle Sam or because their banker requires it, rather than as a tool to stay ahead in their business and plan for the future. Those who are not up to date often become habitual extension filers, producing documentation that is eight to ten months outdated by the time it is filed. By the time returns are produced, the current year’s crop is already in the ground and in some cases, nearly ready for harvest, making the financials largely unusable for planning purposes.

Let’s break this process down into three steps that can help our producers break this cycle.

Step 1: Formalize the Process

  • Resources are crucial and can make this process much easier, not just for us as bankers, but for the customers themselves. Creating a plan to organize all required information into, at a minimum, an Excel spreadsheet or another record keeping platform that suits them the best is a strong first step. Not every customer has a robust system but moving from handwritten records to an Excel sheet can make a significant difference in organization.
  • It is important to recognize that record keeping is not always simple or straightforward. Many producers are balancing long workdays, weather uncertainty, labor constraints and volatile markets, all while trying to keep operations moving forward. When record keeping falls behind, it is often due to time limitations. By acknowledging these challenges, we can better position ourselves as partners in the process. Offering practical solutions, manageable timelines, and realistic expectations can help reduce the burden and make consistent record keeping more achievable.

Step 2: Update Financials in a Timely Manner

  • Procrastination is not our friend and creating a plan to keep financials current on an ongoing basis is essential. Interim financials are important to help with planning priorities for the upcoming year. Encouraging growers to take advantage of available time before cropping season begins is key.

Step 3: Use Financials for Strategic Planning

  • Use the information you have to plan for your future. This includes pushing for accrual adjustments, calculating break-even points and learning from the past to gain efficiencies. While there will always be unpredictable events and circumstances, past performance can still help inform future decisions.
  • As bankers, we can add value when provided with current financials, demonstrating to our customers that we are partners in their future successes. We all want to be there to celebrate our customers’ wins, and successful planning can make that happen.

Breaking a habit does not happen overnight, it takes time, patience and persistence. The goal is to help customers focus on the reward of successful planning while creating an environment where we can work together effectively.

Start the conversation, break the habit, and help ensure success for generations to come.

Hertel is vice president – commercial/ag banking officer at Prevail Bank in Marshfield. Hertel also currently serves on the WBA Agricultural Bankers Section Board of Directors.

 

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From The Fields: Supporting WI Agriculture – A Resource Reminder

By Amy Austin

As we close 2025 and begin to discuss 2026 plans with farmers, it can be a stressful time as they review their financials and plan for the year to come, especially with depressed commodity prices. Agriculture bankers, milk truck drivers, technicians and countless others that are involved in day-to-day farm operations are often times the first to know about major life or farm altering events – good and bad. It is important that all of us are aware of signs of severe stress and know how to connect farmers with helpful resources. I urge you to listen carefully to those who may be struggling and help them reach out for a little extra support when needed.

I want to remind all agriculture bankers and others within the agricultural industry of the resources available through the Wisconsin Farm Center, part of the Department of Agriculture, Trade and Consumer Protection. From financial consulting, succession planning, and mediation services to their Farmer Wellness Program, the Wisconsin Farm Center is a trusted partner for the farmers we work with every day.

The Farmer Wellness Program offers:

  • 24/7 Helpline – Always available when someone needs a listening ear
  • Counseling vouchers – Assisting to cover the cost of in-person counseling services
  • Tele-health services – Support by phone or video
  • Online support groups – Connecting farmers with others around the state who understand
  • Rural Realties Podcast – Conversations on farm legacy, farm business & mental well-being

All of these offerings are free and confidential to Wisconsin farmers and their extended families.

I encourage you to visit the Wisconsin Farm Center’s website or reach out to their team directly to learn more about the resources available through their Farmer Wellness Program. One-on-one training is available as well. Our Ag Team at Lake Ridge Bank was fortunate to receive training with Karen Endres, the Farmer Wellness Program Coordinator, and Dan Bauer, the Wisconsin Farm Center Program Supervisor.

If a farmer you know is experiencing anxiety, depression, or simply needs someone to talk to, please encourage them to call the 24/7 Wisconsin Farmer Wellness Helpline at (888) 901-2558 for free, confidential, and immediate support any day, any time.

Austin is an ag & business portfolio specialist at Lake Ridge Bank in Evansville, and a current member of the WBA Agricultural Bankers Section Board.

 

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AI Driven Threat Detection

By Rob Foxx

Have you ever wondered why there’s been such a strong push toward next-generation antivirus (NGAV) programs over the past five years? Many individuals, businesses, and even banks often fail to see the value in upgrading their traditional antivirus solutions. The reason isn’t always a lack of need — it’s often a lack of clear communication. As someone in IT, I admit that we’re not always the best at explaining complex concepts to those outside the tech world.

For years, traditional antivirus products rarely found any real issues — and if they did, the problems were usually resolved quickly. But does that really mean you’re safe?

Traditional antivirus is primarily designed to detect file-based threats. If an attacker is using only known malicious files, there’s a good chance your antivirus will catch it. However, attack tactics have evolved. A small change to a file can alter its signature and bypass detection. Worse, many modern attacks don’t rely on malicious files at all.

Today’s threats often reside in active memory or use legitimate system tools already present on the machine—a method known as “living off the land.” These attacks can operate under the same permissions as the user, making them harder to spot. In some cases, the attack originates from another compromised device on the network, meaning the affected machine may not have done anything wrong. While not all of these attacks use AI, the most advanced and damaging ones often do.

So, how do we defend against them?

That’s where AI-powered antivirus tools with EDR (Endpoint Detection and Response) capabilities come in.

Unlike traditional antivirus, AI-based systems use deep learning to monitor behaviors — not just file signatures. These tools analyze endpoint behavior, user behavior, network traffic, and file activity to identify suspicious actions. They go beyond detecting “known threats” by recognizing behavior that resembles malicious activity. Depending on configuration, these systems can automatically remediate issues or flag them for investigation.

Of course, behavior-based detection isn’t perfect. False positives are a reality. Fortunately, most systems allow tuning through rules, whitelists, and baselines to distinguish between real threats and benign activity.

EDR platforms also offer other advantages. For example, is one of your salespeople logging in at 3:00 AM on a Saturday? That could be a legitimate case — or it could be a compromised account. Did someone plug in a USB device? That might be a new keyboard — or it might be an external drive loaded with malware. Is your backup system suddenly seeing a spike in traffic? That could signal a ransomware attack preparing to encrypt your backup data.

With the right tools, you can detect and respond to threats like these before they cause damage. Which tools are best? That depends on your environment, but some leading names in that space include Cynet 360, CrowdStrike, SentinelOne, and others. Most rely on similar data sets, but their features, interfaces, and response strategies can vary.

In today’s cyber landscape, traditional antivirus simply isn’t enough. AI-powered, behavior-focused tools are no longer optional — they’re essential.

Foxx is director – infosec and IT audit services for FIPCO, a WBA subsidiary and WBA Gold Associate Member.

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Advocacy Update: Budget Signed, Governor’s Seat Open: Now’s the Time for Banker Advocacy

By Lorenzo Cruz

The 2026 Wisconsin gubernatorial race is expected to break spending records, with key battles for both the governor’s office and control of the state legislature. On July 24, 2025, Democratic Governor Tony Evers announced he would not seek re-election, opening up the race for the first time in 16 years. Here’s a breakdown of the candidates and potential contenders:

Democratic Candidates:
• Lt. Governor Sara Rodriguez: Has officially launched her campaign.
• Milwaukee County Executive David Crowley: Taking steps toward running.
• Attorney General Josh Kaul: Has shown interest, either publicly or privately.
• Former Lt. Governor Mandela Barnes: Considering a run.
• State Senator Kelda Roys: Also mulling a bid.

Republican Candidates:
• Washington County Executive Josh Schoemann: In the race.
• Businessperson Bill Berrien: Has launched his campaign.
• U.S. Rep. Tom Tiffany: Considering a run.
• State Senator Mary Felzkowski: Seen as a potential candidate.
• Former U.S. Senate candidate Eric Hovde: Considering running.
• Business person Tim Michels: Also weighing a run.
• Former Governor Tommy Thompson: Has not ruled out a bid.

Independent:
• David King: Running as an Independent.

With the race still evolving, Attorney General Kaul would likely be the early favorite for the Democratic primary, assuming he enters. On the Republican side, the candidate who secures Donald Trump’s endorsement is likely to have the edge, but the primary could still be unpredictable with a crowded field. The last open gubernatorial seat in Wisconsin occurred in 2010, when Scott Walker defeated Tom Barrett. National analysts have shifted the race from lean Democrat to a toss-up.

In other news, on July 3, 2025, Governor Evers signed the state’s $111 billion 2025-2027 budget into law. The budget was passed quickly due to tight deadlines for federal funding and a more divided legislature following recent elections and redistricting. The budget represents a compromise between Evers and the Republican-controlled legislature, with key provisions including:
• Tax Cuts: $1.3 billion in tax cuts, restructuring the second tax bracket, eliminating the sales tax on household utilities (effective October 2025), and exempting some retirement income for seniors.
• Education Funding: Increases to the state’s special education reimbursement rate and support for the University of Wisconsin system.
• Child Care: $330 million allocated for childcare, including direct payments to providers.

Despite this compromise, some Democrats felt the budget did not go far enough in addressing their priorities, such as funding for schools, childcare, and Medicaid expansion. Governor Evers called it the best deal achievable through compromise.

The state’s non-partisan fiscal bureau projects a $770 million surplus for the 2025-2027 budget, but a looming structural deficit of $2.2 billion for the 2027-2029 period. With a challenging budget outlook and a contentious gubernatorial and legislative race ahead, the likelihood of significant new legislative action in the coming months appears limited.

Amid this uncertainty, it remains crucial for bankers to stay engaged in the political process. As of late July, the Wisconsin Bankers Association (WBA) had reached 57% of its $300,000 annual fundraising goal. WBA’s advocacy efforts continue to focus on issues like interchange fees, crypto regulation, credit unions, taxes, AI, and privacy. Contributions to WBA’s PAC or conduit are encouraged to support pro-business, pro-banking candidates, ensuring the industry’s voice remains influential.

Cruz is WBA vice president – government relations.

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Horicon Bank Names Voight to the Senior Management team

Cassie Voight

Horicon Bank is pleased to announce the promotion of Cassie Voight to Director of Operations, Senior Vice President, as well as her appointment to the Senior Management Team.

Voight began her career with the bank in 2002 as a teller and has steadily advanced through a variety of leadership roles, most recently serving as Vice President.

Throughout her tenure, Cassie Voight has led complex projects and cross-functional teams, aligning initiatives with Horicon Bank’s strategic goals. Her leadership promotes collaboration, accountability, and high performance across departments. In recognition of her impact, she was recently invited to join the bank’s senior management team.

Voight says her role at Horicon Bank is more than a job title change.

“My career at Horicon Bank has been a journey of growth, purpose, and value—where I’ve found not just a role, but a place to make a meaningful impact,” said Voight. “Horicon Bank offers employees a chance to make a difference in the lives of our customers and communities – to be caring bankers whether we are in the front line or back office.”

Voight recently graduated from the Graduate School of Banking at the University of Wisconsin–Madison and actively contributes to industry best practices through her volunteer work and board service with the Shazam and Phoenix user groups.

“Cassie has consistently demonstrated exceptional leadership and dedication throughout her career at Horicon Bank,” said Fred C. Schwertfeger, President. “Her ability to lead complex initiatives and foster collaboration across teams makes her promotion to Senior Vice President well deserved. We’re proud to have her guiding our continued growth and innovation.”

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DC Everest High School Unveils New Audio and Video Board With Support from Intercity State Bank

Pictured (from left to right): Mike Mathies, DC Everest High School Athletic Director; Krisi Gilray, Vice President Compliance & Risk Management; Loralee Geier, Risk Management Specialist; Ginny Sauer, Marketing Coordinator; and Chris Pfender, Regional President.

DC Everest High School recently celebrated the installation of a state-of-the-art audio and video board at Stiehm Stadium, made possible in part through a $75,000 sponsorship from Intercity State Bank. The new scoreboard is a major enhancement for the school’s athletic programs and a reflection of Intercity’s longstanding commitment to investing in the local community.

“DC Everest has been a huge part of our success, and we’re thrilled to partner with them on this project,” said Chris Pfender, Regional President of Intercity State Bank. “We believe strongly in investing in our communities, and this new scoreboard is a great way to enhance the experience for athletes and fans alike.”

Pfender added, “One of the many lessons we’ve learned over our 75+ years in business is that supporting, enhancing, and building stronger communities benefits everyone. We’re proud to be part of a project that will create a better game-day experience for students, families, and fans.”

The new scoreboard will also create hands-on learning opportunities for students. “As a school district, we would not have moved forward with this type of project if it didn’t offer something meaningful for our students,” said DC Everest Athletic Director Mike Mathies. “With this technology, students will eventually take over many of the live game responsibilities and even produce much of the content. This partnership allows us to give students real-world experience while continuing to provide a first-class experience for our fans.”

The project highlights the power of community partnerships and underscores Intercity State Bank’s dedication to supporting local schools and organizations—helping ensure student success both on and off the field.

Intercity State Bank is a branch of One Community Bank. One Community Bank is one of the largest community banks in Wisconsin. The locally owned bank has 19 bank locations and $2.5 billion in assets. It provides both personal and business banking solutions, with an intense focus on serving clients, supporting colleagues, and investing in its communities. Seven years in a row named one of Madison’s best places to work, One Community Bank serves the communities of Orgeon, McFarland, Waunakee, Stoughton, Sun Prairie, Cottage Grove, Middleton, Adams, Oxford, Grand Marsh, Hillsboro, La Farge, Reedstown, Wonewoc, Union Center, Schofield, Weston, and Wausau. Member FDIC.

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The Stablecoin Shift: What the GENIUS Act Means for Wisconsin Banks

By Elizabeth Fenton

The conversation around digital assets has long been dominated by speculation and hype, and, until recently, stablecoins have existed largely on the periphery of traditional finance. President Donald Trump signed the GENIUS Act into law on July 18th, 2025, which brought this asset into a formal framework. The policy establishes clear rules for issuance, reserves, and reporting — and, for the first time, creates a regulated bridge between decentralized finance (DeFi) and the banking sector.

FIS — a global leader in financial technology — has partnered with Circle, the issuer of U.S. dollar-backed USDC stablecoin, to integrate stablecoin usage into FIS’s Money Movement Hub. The collaboration gives banks the option to participate in this new payment system while also maintaining their existing infrastructure.

For this article, WBA  spoke with John Omahen, vice president of product management at FIS, to unpack what this shift means for Wisconsin bankers. Omahen, a veteran in capital markets technology and a key player in the FIS/Circle partnership, has been at the forefront of integrating crypto technology into traditional financial systems. “Whether you love it or hate it, it’s happening,” Omahen says. “It’s better to stay informed, educated, and prepared for what that change will ultimately bring to your business.”

Stablecoin as a Mainstream Payment Rail
Stablecoins are a digital token pegged to an asset, like the U.S. dollar, and backed by audited reserves. Omahen first began working with digital assets in 2020 when stablecoins were a niche tool mostly used to facilitate crypto trades. Just five years later, payment stablecoins offer something more powerful: the ability to settle both an asset and its payment simultaneously on a blockchain.

“That’s revolutionary,” Omahen explains. “It means settlement finality on both sides, automated and insured. The velocity of money has a new speed limit — and its much faster.”

GENIUS Act: Establishing a Regulatory Framework
The implications of the GENIUS Act are far-reaching for Wisconsin banks. The law allows eligible institutions to issue their own stablecoins, act as custodians for stablecoin issuers, and facilitate transactions. The legislation also reinforces safeguards, such as one-to-one reserve requirements and prohibition on paying interest to avoid the risks of unregulated digital assets. These guidelines serve as a critical first step for banks, Omahen says.

“In the short term, it makes it easier for banks to access markets and networks that were largely developed by the crypto trading world,” he says. “It’s now simpler for banks to engage with DeFi, and for DeFi to engage with banks.”

Omahen stresses that GENIUS Act’s audit requirements and reserve rules create an ecosystem of trust that was previously lacking. “We like predictability and auditability,” he explains. “Now we can trust that the issuer of a stablecoin actually has the funds to back it up.”

Stablecoin as a Tool for Wisconsin Banks
Community bankers have expressed concerns that stablecoins could drain deposits. Omahen acknowledges that stablecoin held off-balance-sheet can’t be used to lend — but he sees more promising possibility in the long run.

“I would challenge the idea that stablecoin is just an exit for deposits,” he emphasizes. “It could just as easily bring you new deposits as it could remove them.”

Stablecoin’s offers benefits in the near-term, like faster, lower-cost transactions, particularly across borders. He explains that economic growth is fueled by international business-to-business and business-to-consumer transactions.

“In some ways, this is bringing what was possible at the top end of the market down to a wider audience,” he says. “Faster payments mean more deals can be made. More business, more hiring — it’s a macroeconomic positive.”

Looking Ahead: Bringing Stablecoin into Bank Territory
The GENIUS Act opens the door for banks to offer custody services for stablecoins, a corner of the market that Omahen believes will become strategically important. Community banks could offer safe storage, extend lending against digital currency, issue their own stablecoins and even tokenize bank deposits to open the door to new customer bases.

“This generally involves a younger demographic,” he notes, “one that may not have a mortgage today but will be the recipient of the largest intergenerational transfer of wealth in history.”

Omahen’s work with the FIS/Circle partnership aims to make stablecoin adoption seamless for banks. By integrating Circle’s USDC stablecoin into FIS’s Money Movement Hub, banks can offer their costumers a different payment rail option without overhauling their existing operations.

“It’s a premium add-on,” Omahen explains. “The design fits within a process that bankers already understand. Whether a payment goes through USDC, Tether, or something else, you’re still doing your fraud checks, compliance checks, and ledger adjustments.”

In simpler terms: Stablecoin becomes “just another payment option” within a bank’s already established workflow. For community banks, the question is less about whether stablecoin will become relevant, and more about how to be prepared when customers start asking about it.

Fenton is WBA Communications Coordinator

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Executive Letter: WBA Guidance for Response to SBA Debanking Letter

From the Desk of Rose Oswald PoelsBy Rose Oswald Poels

As a follow-up to the complimentary live webinar hosted earlier this month with myself and Peter Wilder, attorney with Godfrey & Kahn, I requested Peter to prepare guidance for response to the SBA debanking letter we discussed in that webinar. The following is that prepared guidance.

In late August, the Small Business Administration issued a letter (Letter) to over 5,000 lenders in response to President Trump’s Executive Order 14331 called “Guaranteeing Fair Banking For All Americans”. The Letter directs lenders to identify and remediate instances of politicized or unlawful debanking actions by December 5, 2025, and also requires the submission of a detailed report to the SBA by January 5, 2026. The risks of noncompliance can be severe. In response to several inquiries, we have found that a general framework for a compliance process may be helpful for bank boards and management teams.

•  Internal Risk Assessment. The Letter is directed toward financial institutions “participating in the [SBA]’s loan guarantee programs”. We expect each bank to take a risk-based approach to the Letter’s directives based on its own unique circumstances. There is no “one size fits all” approach. For example, if a bank received the Letter but does not participate in the SBA’s loan guarantee programs, it may wish to limit its efforts to sending a reply letter to the SBA to that effect. If a bank received the Letter and engages in the SBA’s loan guarantee programs as part of its business, it will want to conduct a thorough, good-faith process to document its efforts to comply with the Letter’s directives and report any findings. The more heavily the bank relies on SBA loan programs for its business, the more robust its process and documentation should likely be.

•  Inform Your Board of Directors. Banks receiving the Letter will want to inform and educate their boards. The board should directly oversee compliance with the Letter.

•  Approve a Process. We expect boards to approve a process by which the bank will comply with the Letter. The process may include, for example: (a) appointment of a person (e.g. internal auditor or compliance officer) or a committee, who is responsible for investigating and reporting all findings to executive management and the board; (b) identification of all sources of information to be reviewed (e.g. loan policies, loan committee and board minutes, credit denials and adverse action notices, customer complaints, reports of examination, internal and external audit reports, and interviews with relevant department heads within the bank); (c) establishment of a “look-back” period of how far in the past the bank will investigate; (d) engagement of any outside professionals (e.g. accountant, lawyer, etc.); and (e) a timeline for completion.

•  Execute the Process. The individual or committee responsible for conducting the review should follow the process approved by the board. A preliminary report should be delivered to the board with enough time for the board to review it and require additional investigation—and with enough time to notify injured parties—prior to the December 5 deadline.

•  Board Reporting and Approval. The board should be presented with final findings and any necessary actions taken no later than December 5, 2025. Actions taken would include any required notices to injured parties, and any proposed updates to internal policies, practices, and procedures on a go-forward basis. Moreover, the board should approve the report to be submitted to the SBA prior to January 5, 2026. Review of the report by outside counsel prior to submission may be appropriate.

•  Submission of Report to SBA; Record Retention. A bank should submit its report to the SBA by the January 5, 2026 deadline. All records relating to the internal review, board action, and remediation efforts should be retained indefinitely.

I appreciate the information and time taken by Godfrey & Kahn for this guidance and for Peter to have joined in our webinar discussion with his insights. As mentioned previously in the webinar, I have posed several questions to SBA regarding their debanking letter and any clarifying information from SBA will be promptly shared with the membership.

Godfrey & Kahn is a WBA Gold Associate Member.

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Nonprofit Donations to Surpass $1 Million at First Business Bank’s 15th Charity Golf Invitational

First Business Bank’s Charity Golf Invitational will reach a historic milestone, surpassing $1 million in total donations to Wisconsin nonprofits since the tournament’s inception in 2011. The 15th annual event, featuring competitions in both Madison and Milwaukee areas, is scheduled to award $144,000 in new donations, pushing the cumulative total over the seven-figure mark.

The milestone represents an extraordinary achievement for a tournament that began with a simple yet innovative concept: two-person golf teams compete on behalf of a charity they choose, with tournament entry fees becoming prize donations for the winning nonprofits.

South Central Wisconsin Charity Golf Invitational
September 17, 2025 | 10:30 am – 6:00 pm Nakoma Golf Course, Madison, Wisconsin

Southeast Wisconsin Charity Golf Invitational
September 22, 2025 | 10:30 am – 6:00 pm The Legend at Bristlecone, Hartland, Wisconsin

Schedule of Events:

  • 10:30 am: Check-in, networking, and lunch
  • 12:00 pm: Shotgun start tournament play
  • 4:00 pm: Cocktails and appetizers in clubhouse
  • 5:30 pm: Awards ceremony with check presentations to winning charities

Please note: In case of inclement weather, the golf course will determine golf play. If inclement weather cancels the event, designated charities receive entry fees from their golf teams.

In this unique tournament format, each team pays a $2,000 entry fee that becomes part of pooled donations. The charities chosen by the five best-performing golf teams receive prize donations, ensuring several nonprofits benefit at each event. First Business Bank covers all tournament expenses so 100% of the entry fees go directly to winning charities.

Since 2011, the First Business Bank’s Charity Golf Invitationals have made more than 95 donations to a wide variety of nonprofits. Read more about the legacy of the Charity Golf Invitational.

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