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Community Advocate Spotlight: Steve Ploetz, Bank of Prairie du Sac

Steve Ploetz

The following is a brief interview between WBA President and CEO Rose Oswald Poels and Bank of Prairie du Sac President Steve Ploetz.

Rose: How did you first get into the banking industry?

Steve: My father, Charlie Ploetz, was an attorney in Prairie du Sac. He had been practicing law since 1945 and when my mother passed away in 1968, he began thinking about a career change. He had made the decision to move out West in 1970. However, Edward Gruber, the Bank of Prairie du Sac’s president at that time, heard of my dad’s plan and approached him about buying his shares and taking over at the bank. As a result, Dad became a banker.

In 1976, I graduated from the University of Wisconsin– Madison and joined my dad at the bank in 1977. I am proud to say that I am still here today.

What is your favorite aspect of your role at your bank?

Like other community bankers, I really enjoy working with people to help them be successful. Whether it’s employees or customers, helping them achieve their goals is especially rewarding.

What do you wish the general public understood about the banking industry?

The role we play in supporting our communities and the differences between banks and credit unions. I’m not sure the general public understands that their deposits are what fund the loans we make back out in our communities. I also don’t believe they understand the tax advantages credit unions enjoy.

Where do you believe the industry’s greatest challenges are in the next three to five years?

Margins, growth, credit quality, and cyber criminals are sure to be significant challenges our industry will face. Cyber is what scares me the most; technology is changing so fast, and the bad guys are really smart. Keeping our banks and our customers safe from cybercrime will be one of our greatest challenges.

Please describe your current role at your bank and share with us one of your more rewarding experiences.

After 40 plus years, there have been so many special people, businesses, charities, and community events. But it’s all the little things that keep me going.

Recently, a customer I hadn’t talked to in years came to thank me for the loan I gave her 30 years ago to help start her business. She came in to share that she had just sold her business and was retiring. As she left my office, I told her she had just made my day, which made us both smile. You cannot put a price tag on lasting relationships with customers, businesses, and employees, and it is wonderful to hear you have made an impact on people’s lives.

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From the Fields: Taking the Scenic Route

A historic bank in Coffeyville, Kansas.

By Darla Sikora, Citizens State Bank of Loyal

Here’s to hoping that this month’s From the Fields finds your customers finally able to be out in their fields after what seems like a particularly long winter and slow-to-arrive spring! How can it be that in just one more month, the year will already be half over?

With June Dairy Month quickly approaching, complete with its many June Dairy Breakfasts and the appreciation it brings for our ag producers, I am reminded of the words of well-known WGN Farm Broadcaster Orion Samuelson. At the 2013 ABA National Ag Banker Conference in Minneapolis, he told us that he ends each day with this prayer: “Thank you God, for America’s farmers and ranchers: the people who put the food on my table, clothes on my back, a roof over my head and energy in my tank.” There is no doubt our customers have strong work ethics as they strive to provide the food and fiber for the rest of us, but we too all work hard, day-in and day-out, year-in and year-out. For us, the work entails providing an array of ag banking products, programs, and services along with a great deal of guidance, analysis, and direction for the ag producers of the fine state of Wisconsin. With summer (finally!) around the corner, I just want to remind everyone to make sure to carve some time out this year, and every year, for yourselves.

It’s important to take time away from the job to get “out of our heads,” out of our “normal” and to step out into something else. Recently I enjoyed a family road trip to the state of Texas, via some interesting byways. Taking the “scenic route” we also saw much of small town America. It is always interesting to see the agriculture in other parts of the country; from massive farm fields, to rows and rows of grain bins, to longhorn cattle right on the outskirts of town, to the Southwest Dairy Museum, and to “Rancho” proudly displayed in the titles on overhead signs leading to Texas ranches.

Tying just a bit of banking into the vacation, on a quiet, cloudy Sunday morning we drove through rural Coffeyville, Kansas where 130 years ago on October 5, 1892, the Dalton Gang rode into town attempting to make outlaw history by robbing not one, but two banks simultaneously. They were unsuccessful and after a 12-minute gunfight, four of the six members lay dead. The storied shoot-out also claimed the lives of four of Coffeyville’s courageous townspeople who defended against the Dalton’s last raid. (Interesting note: In 1876 John W. Cubine helped put Coffeyville on the map by creating a cowboy boot that fit the left and right foot individually. Before this, all boots were constructed exactly the same and didn’t have a specific fit for each foot. Think of that the next time you pull on your Ariats! John’s nephew, George Cubine, and another employee of the boot shop, Charles Brown, were both killed defending Coffeyville on the day of the Dalton Raid.)

There is so much out there to learn, to see, to experience. Life is short. Moments are fleeting. Time is precious. Remember to set the busy-ness and the demands of the daily routine aside every now and again to take a break and to spend time with those who mean the most to you. Years ago, on another road trip, I saw a sign outside of a church near Escanaba, Michigan that read, “families go on vacation to become families again”. Take the road less traveled, step outside the usual, make the connections, laugh more, and embrace those you love with all your might.

Darla Sikora is senior vice president of agricultural banking with Citizens State Bank of Loyal, and currently serves as the Past Chair on the WBA Agricultural Bankers Section Board of Directors.

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First State Bank Promotes Wood to Vice President of Loan Operations

First State Bank recently announced the promotion of Brian Wood to vice president – loan operations. In his new role, Wood will oversee all aspects of application, processing, and servicing of First State Bank’s loan portfolio while ensuring adherence to loan policy and regulatory compliance.

Wood has held various credit and loan processing supervisory roles during his eleven years at the bank. Promoted in 2021 to senior credit analyst/assistant vice president – special projects, Wood led several process improvement initiatives in the bank’s credit and lending operations.

“Brian is a creative leader in our organization,” commented bank President Bob Van Asten. “He thoroughly understands the loan process and has great vision for balancing all of the behind-the-scenes details of lending with making the loan process as easy as possible for our customers.”

Wood is a 2010 graduate of the University of Wisconsin–Eau Claire where he received his bachelor’s degree in business administration with majors in finance and economics. He also graduated from the Graduate School of Banking at the University of Wisconsin-Madison in 2021. Wood is located at First State Bank’s new Stevens Point office at 5500 Carrie Frost Drive, which opened mid-April.

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UW-Platteville Student Launches Career in Banking with Assistance from WBF Scholarship

Last spring, Jenna Raisbeck was awarded the Wisconsin Bankers Foundation’s (WBF) Agricultural Banking Scholarship. Originally from Lancaster, Wisconsin, Raisbeck is now a junior at the University of Wisconsin–Platteville and holds a position as a credit analyst and branch marketing liaison at Community First Bank in Platteville.

This inaugural scholarship awarded two individuals attending accredited Wisconsin universities with career interests related to agricultural banking/finance a $1,000 scholarship towards their education. WBF is excited to soon announce the recipients of 2021’s Agricultural Banking Scholarship, which accepted applications in the fall.

Raisbeck was raised understanding the importance of agriculture to her local community, despite not living on a farm herself. As a credit analyst, she works closely with farmers and their credit and has come to realize the need for having good agricultural finance professionals and resources for farmers. Not only does her current position allow her to explore finance and banking, but it also combines her interests in the agricultural industry and helping her community.

Along with receiving the scholarship from WBF, Raisbeck also had the unique opportunity to enter the bank as an intern. “Most companies target graduating seniors for full-time positions, but hiring younger students as interns or tellers can be just as important,” she says. “In my experience, the bank has been able to teach me a lot since I started out so young and with little experience. They know what areas I am interested in and eventually can help me prepare for the right position.”

Following her graduation this January, Raisbeck plans to continue her banking career long term. Through opportunities such as job shadowing, she has decided to pursue lending because it will allow her to work closely with customers, utilize the financial skills established through her time as a credit analyst, and help customers reach their goals.

“Being the recipient of the Wisconsin Bankers Foundation Agricultural Banking Scholarship has benefited me by helping lighten my financial burden that comes with attending college,” says Raisbeck, “This has allowed me to focus more time on my courses which is important to my career. Without successfully completing these finance-focused courses, I would not be able to pursue the career I want long-term, nor would I be able to be in the position that I am now. Getting this recognition for all my hard work from the WBF means a great deal to me and motivates me to continue to push myself to be the best I can be.”

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FIPCO Welcomes New Staff

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Draft Comment Letter Coming Soon: Section 1071 Dodd-Frank Act Proposal

Earlier this year the CFPB issued its long-awaited proposal for implementing Section 1071 of the Dodd-Frank Act, which requires collection of credit application data for small businesses, including women-owned and minority-owned small businesses. Comments on the proposal are due January 6, 2022. WBA will be creating a draft comment letter for use by members to reply to CFPB regarding concerns and impact of the proposal on banks. WBA encourages each bank to consider submitting its own letter reflecting bank-specific information. In preparation for these comments, WBA has prepared the following considerations regarding the rule.

What specific burdens will your institution face as a result the proposal? Some examples might include:

  • Costs, technology, training, staffing, customer-facing educational information needs.
  • Review of application process (based upon the rule’s definition of application).
  • Is the proposed “firewall” process workable for the bank?
  • What sort of implementation period will be necessary?

More specifically you might consider:

  • Will bank need to hire new staff (compliance, processor, etc.)?
  • Technology costs, such as a new platform, or 1071 data software.
  • Costs associated with updating existing systems, testing, applications, training, development of new policies and procedures, legal consultation, review of implementation, etc.
  • New annual costs related to collection such as customer service, data management, resolution of errors, exam prep, etc.

In preparation for filing comments, banks should plan to provide specific estimates where possible. For example, if bank predicts new software will be necessary to capture the data, be prepared to provide CFPB with a specific cost if possible.

As mentioned above, WBA will be creating a draft comment letter for use by members to reply to CFPB. The letter will be released shortly to allow banks time to personalize their letter with bank-specific information. For more information about CFPB’s Section 1071 proposal, please see the WBA Toolkit and PowerPoint materials.

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Burlington Community Organizations Partner to Provide Thanksgiving Meals to Over 200 Local Families

Pictured left to right are: Ali Hansen (Southern Lakes Area Love, Inc.), Pat Yakes (Southern Lakes Area Love, Inc.), Jen Lavery (Southern Lakes Area Love, Inc.), Hunter Baumstark (Southern Lakes Area Love, Inc.), Becky McClelland (Community State Bank), Amanda Seifert (Rotary Club of Burlington)

Community State Bank (CSB), Rotary Club of Burlington and the Burlington Rotary Rescue Squad Fund have raised funds to donate a total of 237 meals to the 2021 Love, Inc. and Rotary Club of Burlington Thanksgiving Meal Campaign. This campaign is hosted annually by the club and has been providing meals to local families in need for over 20 years.

“Our annual drive is about community,” said Rotary Club of Burlington president, Amanda Seifert. “Burlington has given much to us, and we have a responsibility to pay that forward. We want our neighbors to have the same wonderful holiday we share with our families. Having Community State Bank and the Burlington Rotary Rescue Squad Fund join this effort shows that Burlington feels the same way. The assistance from CSB nearly doubled our reach!”

Community State Bank employees, along with the bank, donated a total of 64 meals and members of the Rotary Club of Burlington collected a total of 70 meals. The Burlington Rotary Rescue Squad Fund then agreed to match those donations up to $3000 for a grand total of 237 Thanksgiving meals.

“This is our second year participating in the campaign and it’s just as exciting as the last,” said CSB Burlington market president, Becky McClelland. “Our bank team rallies together with their very own funds to provide as many meals as we can. Community State Bank then matches our personal employee donations. It’s a group effort and we’re grateful to be a part of it.”

Thanksgiving boxes were distributed to families mid-November at Love, Inc. where families had the choice of a ham or turkey, an apple or pumpkin pie, and all the fixings.

In addition to the Thanksgiving boxes, for the second year, Love, Inc. was able to hand out grab-and-go style meals on Thanksgiving Day to ensure that the needs of the community are met. In years past, St. John’s held a Thanksgiving Day meal, but COVID restrictions prevented them from being able to safely serve.

“Our mission here at Love is to be a community network helping our neighbors in need,” said Southern Lakes Area Love, Inc. executive director, Patti Wojciechowski. “This partnership is a great illustration of our mission in action. We are truly grateful to be able to provide a positive experience for our guests.”

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Thank You, 2021 WBA Advocacy Officers!

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

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

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

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

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

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

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Oppose IRS Reporting Proposal to Protect Privacy

Dan Peterson

By Daniel J. Peterson, president and CEO of The Stephenson National Bank & Trust

We typically do not raise issues occurring in Washington with the public, but because the people in our community are important to us, we want to inform our neighbors of proposed legislation that could significantly impact millions of families and small businesses.

There is currently proposed legislation that, if enacted, would require all financial institutions to report to the IRS the gross financial inflows and outflows of every business and personal customer account above $10,000. The proposal would use banks as a third-party information source to find and report taxpayers’ income.

As a bank, The Stephenson National Bank & Trust strongly believes in protecting our customers’ private financial information. We only collect personal, financial data for the purpose of serving consumers and businesses – and we do our utmost to safeguard their money and their privacy. The proposal would require financial institutions to transfer a large amount of personal data to the IRS, significantly more data than has been shared with the IRS before. The IRS is already a common target for cyberattacks (approximately 1.4 billion attacks annually) due to the amount of personal data currently in its control. Therefore, adding a new set of sensitive consumer data puts the privacy and financial data of millions of Americans at greater risk.

We felt it was important to share this information with the public so each individual can determine whether to take action. If a person would like to express their opinion, they may contact their member of Congress.

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questions@wisbank.com

608-441-1200

4721 S Biltmore Ln.
Madison, WI 53718

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