THE OFFICIAL NEWSLETTER OF COMMUNITY BANKERS OF …

THE OFFICIAL NEWSLETTER OF COMMUNITY BANKERS OF MICHIGAN ? 2017 ? ISSUE 4

PERMIT #1096

LANSING, MI

PAID

U.S. POSTAGE

PRSRT STD

Your building, your vault, your money

and your people: Protect them all.

At the heart of every community is its bank. And at the heart of every bank are its people.

That¡¯s where our coverage starts, but it extends so much further. In one package, we

provide community banks with everything from traditional property and casualty to

management liability insurance. The right policy is still only one part of your insurance

carrier¡¯s value. Travelers partners with you to help educate your bank on emerging and

potential risks, and provides tools and solutions to better prepare your bank for

the future.

Travelers is the endorsed carrier of the Community Bankers

of Michigan (CBM). For more information, contact Andrew Hatheway,

amhathew@ or 317.818.0195.



Travelers Casualty and Surety Company of America and its property casualty afliates. One Tower Square, Hartford, CT 06183.

Coverage for all claims and losses depends on actual policy provisions. Availability of coverage can depend on our underwriting qualifications

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? 2017 The Travelers Indemnity Company. All rights reserved. Travelers and the Travelers Umbrella logo are registered trademarks of

The Travelers Indemnity Company in the U.S. and other countries. XX-XXXX Rev. 6-17

table of contents

IN THIS ISSUE

CBM LEGAL CORNER

2 | President¡¯s Corner

4 | Fine Points: No Place Like Home

5 | From the Chairman: Put Down

Grassroots this Summer

7-8 | Deep Dive into Policies & Procedures

10 | First State Bank Marks Centennial

Anniversary

11-12 | Michigan Legislative Spotlight

14-16 | Industry Trends

25-26 | Changes to Credit Report Processing

by Nationwide Credit Bureaus

PRODUCTS & SERVICES

17

18-19

20-21

22

23-24

|

|

|

|

|

EDUCATION

26 |

27-28 |

29-33 |

34 |

Upcoming Education & Training Events

Michigan Bank Directors¡¯ College

CBM Webinars by Category

Understanding the NACHA Third-Party

Sender Registry for ODFIs

36-40 | COMMUNITY CONNECTIONS

Welcome New CBM Associate Members

CBM Endorsed Partners

Products & Services Reference List

Bundlefi Launches in Michigan

How Effective is Your Marketing Plan?

CBM 2016-2017

CHAIRMAN

DIRECTORS

Shelly Brooks Michael Burke

Mayville State Bank, Mayville Lakestone Bank & Trust, Lapeer

CHAIR-ELECT David C. Williams

Cortney Collison Upper Peninsula State Bank,

Union Bank, Lake Odessa Escanaba

VICE CHAIRMAN Jay Dubey

Robert Wolak Thumb National Bank & Trust Co.,

Chemical Bank, Caro

SECRETARY/TREASURER

Pigeon

Jae Evans

James North Isabella Bank, Mt. Pleasant

First National Bank of St. Ignace,

St. Ignace Peter Kubacki

Dart Bank, Mason

PRESIDENT/CEO

Michael J. Tierney Eugene Lovell

CBM, East Lansing First State Bank,

St. Clair Shores

IMMEDIATE PAST CHAIRMAN

Douglas Ouellette Jeffrey Kopelman

Mercantile Bank of Michigan, Main Street Bank,

Mt. Pleasant Bingham Farms

ICBA STATE DIRECTOR

GENERAL COUNSEL & MEDIA

Mark A. Kolanowski SPOKESPERSON

Hasting City Bank, Hastings Michael A. Kus

Kus Ryan & Associates, PLLC

officers + directors

MCBS 2016-2017

CHAIRMAN

STAFF

Timothy M. Ward Michael Tierney

Eastern Michigan Bank, President and CEO

Croswell

PRESIDENT Mary Anne Czubko

Michael J. Tierney Chief Administrative Officer

CBM, East Lansing

VICE PRESIDENT Kate Angles

Mary Anne Czubko Products and Services

CBM, East Lansing

SECRETARY/TREASURER

Sarah Cook

Julie Goll Office Manager and

Blissfield State Bank, Blissfield Executive Assistant

DIRECTORS

Donald P. Mann

Shelly Brooks Regulatory Liaison and

Mayville State Bank, Mayville

Kevin Collison

Consultant

Commercial Bank, Ithaca Sally Peters

D. Scott Hines Communications Consultant

Kalamazoo County State Bank,

Schoolcraft Marcia Hune

Robert Fisher Bill Zaagman

Lake-Osceola State Bank, Governmental Consultant

Baldwin Services Inc.

Mishelle Comstock

Shelby State Bank, Shelby James L. Harvin

Kelly Potes Financial Services and

ChoiceOne Bank, Sparta Insurance Consultant

Gary Sharp

Old Mission Bank,

Sault Ste. Marie

Please note: With the exception of official announcements, the Community Bankers of Michigan (CBM) and its staff disclaim responsibility for opinions expressed

and statements made in articles published in the CBM newsletter. This publication of CBM is intended to provide accurate and authoritative information regarding

the subject matter covered. This service is provided with the understanding that CBM is not engaged in rendering legal, accounting, or other professional services.

If you require legal advice or other expert assistance, the services of a competent professional should be sought.

2017 | | Issue 4

1

president¡¯s corner

S

ummer is ¡°Soaring¡± by way too fast. Before you

know it we will all be gathered in beautiful Traverse

City at the Grand Traverse Resort. This year¡¯s CBM

Convention and Expo, Michigan¡¯s premiere banking

event, will be held from Wednesday September 13th to

Friday September 15th. The Directors College which we

co-sponsor with the Michigan Department of Insurance

and Financial Services will be held Wednesday the 13th

from 11:30 am to 4:30 pm. Be sure to sign up now for

both events as things are filling up fast.

This will be one of our best conventions ever and will

feature industry experts speaking on key topics, over

50 exhibitors, and two exceptional keynote speakers.

Our first keynote speaker is Rob ¡°Waldo¡± Waldman

a retired Lt. Colonel Navy fighter pilot who will get

your juices flowing. He is a Hall of Fame speaker, a

New York Times bestselling author, and he will have us

all ¡°Soaring to New Heights,¡± which is our convention

theme.

We are also thrilled to have Rebeca Romero Rainey

joining us for the convention. She is a third generation

community banker and just finished her term as the

Chairwoman of the ICBA. She will be taking over for

Cam Fine as the President and CEO of the ICBA when

he retires next May on his 15th anniversary of leading

the fight for the success of community banks. You will

really be impressed with Rebeca and her passion for

community banking. She is looking forward to having

the chance to personally meet as many of you as she

can.

Senator Darwin Booher, the chair of the Senate

Banking and Financial Institutions Committee, is a

longstanding friend of Michigan community banks

and a former community banker. He has been a

strong advocate for our industry and we are pleased

to feature Senator Booher in this month¡¯s newsletter.

His leadership and constant advocacy for our industry

is greatly appreciated. On the national level the fight

continues to push for meaningful regulatory reform. The

CHOICE Act and the CLEAR Act are well drafted

bills which will help implement the key elements of the

ICBA Plan for Prosperity. We have been in frequent

contact with our Michigan Congressional delegation

on this game changing legislation.

We continue to be diligent and looking out for your

best interests ¨C we always have your back. It seems to

be the year of the patent trolls. First, we successfully

2

2017 | | Issue 4

fought the charge regarding

the ADA bank website issue

and no Michigan bank we

are aware of settled any of

these unwarranted claims.

The law firm backed away

after several ICBA affiliated

state banking associations

challenged them.

We

pushed back on the USAA

patent challenges for many

of our members and this

Michael J. Tierney

now appears to be an issue CBM President & CEO

for the third party service

providers to deal with ¨C not our bank members. The

latest demand has come from a law firm in Utah

regarding mobile banking patents. We will track any

of these demand letters our banks receive and push

back like we always do to defend our banks. CBM

collaborates with local law firms, the ICBA, and the

26 other ICBA state affiliated banking associations to

fight back against these challenges on your behalf.

Three of our Michigan community banks were recently

recognized in the July issue of the ICBA magazine for

their expertise and ability in the commercial lending

area. Huron Valley State Bank, Crestmark Bank, and

Mercantile Bank of Michigan were all mentioned in

the Independent Bankers Magazine feature article on

¡°The Art of Lending.¡± Congrats to the employees at

all three banks for their special ability to delight their

customers.

We look forward to seeing you all in Traverse City. It is

a beautiful time of the year to be in northern Michigan.

Many bank CEO¡¯s are taking the opportunity to bring

their board and management teams to the conference.

A number of them are holding board meetings and/or

strategic planning meetings at the resort on Monday

and Tuesday in conjunction with the convention. If you

are interested in doing the same we would be happy to

help coordinate the event with you and to connect you

with the key managers at the Grand Traverse Resort.

Enjoy the rest of the summer and I look forward to

seeing you in Traverse City in September!!

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