Florida Banking August/September 2024

THE MAGAZINE OF THE FLORIDA BANKERS ASSOCIATION WWW.FLORIDABANKERS.COM SEPTEMBER 2020 FirstBank Florida: Fostering Strong Community Relationships THE MTAHGEAMZAINGEAOZIFNETHOEFFTLHOERFIDLOARBIDAANKBEARNSKAERSSOACSSIAOTCIOIANTION WWW.FLORIDABANKERS.COM SEPTEMBER 2020 WWW.FLORIDABANKERS.COM AUGUST | SEPTEMBER 2024

Editorial & Executive Offices 1001 Thomasville Road, Suite 201 Tallahassee, FL 32303 850-224-2265 www.floridabankers.com Advertising & Production Offices 250 Prairie Center Dr., Ste. 300 Eden Prairie, MN 55344 952-835-2275 www.nfrcom.com For advertising information, contact Erica Nelson Advertising Sales Executive 763-497-1778 Erica@NFRcom.com For reprints or single issues, contact 800-336-1120 Statements of fact and opinion are made on the responsibility of the authors alone and do not imply an opinion or endorsement on the part of the officers or members of FBA. Florida Banking is published six times annually. Subscription price is $50 per year for nonmembers. Postmaster, send address changes to Florida Bankers Association, P.O. Box 1360, Tallahassee, FL 32302. Copyright 2024 Kathy Kraninger President and Chief Executive Officer Florida Bankers Association kkraninger@floridabankers.com Pamela Ricco Executive Vice President and Chief Operating Officer A

THE MAGAZINE OF THE FLORIDA BANKERS ASSOCIATION

VOLUME 39

NUMBER 7 AUGUST/SEPTEMBER 2024

ON THE COVER 8 - - - FirstBank Florida: Fostering Strong Community Relationships CONTENTS 4 --------- Chair’s Message: Highlights of Our 136th Annual Meeting 6 - - - - - President's Perspective: Rebuilding Trust to Counter the Regulatory Tsunami 12 -------- Trust and Wealth Management Mini Feature: United Southern Bank’s Trust Department: Deep Community Involvement and Service 14 - - BancServ Endorsed Partner: What Financial Institutions Should Look For in an HSA Partnership 17 - - - - - - Silent Auction Donors 18 - - - - - Government Relations: Elections Will Be Here Soon 20 - - - - Faces of the Foundation: Meet Rebekah Refford 22 - - - - Affordable Housing Needs All Hands on Deck 24 - - - - - - Personal Transactions 26 - - - - - - - - - - - - - - Kudos 29 - - - - - - - FBA Staff Spotlight: Suellen Wilkins 30 - - - - - - - - Upcoming Events 31 - - - - - - Advertising Directory 31 - - - - - - - - - -Did You Know?

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Florida Bankers Association pricco@floridabankers.com Suellen Wilkins Director of Communications Florida Bankers Association swilkins@floridabankers.com

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Derek Jones Chair

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Keith Costello Chair-Elect

Jose Cueto Immediate Past Chair

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On the Cover: FirstBank Florida Executive Vice President and Florida Business Director Jose M. Lacasa

Florida Bankers Association: The voice of Florida banking since 1888.

Photos by Steven Martine Photography

©istock.com: piranka; Iuliia Anisimova

CHAIR’S MESSAGE

HIGHLIGHTS OF OUR 136TH ANNUAL MEETING

BY DEREK JONES, FBA CHAIR

O ur recent Annual Meeting gave me a lot to think about; the timely sessions and panels covered many relevant topics including legislation, the economy, regulation, fraud, generative AI, innovation and more. In this column, I want to share a few highlights. First, let me say what a pleasure it was to catch up with colleagues and friends! The Annual Meeting is one of the best opportunities to network with our peers

colleagues’ perspectives on the different issues that our industry and our institutions are facing. The Horizon Banker Discussion and Reception centered around the topic of engaging the next generation of banking leaders. Bank presidents and CEOs shared thoughts and ideas with the FBA team not only about the recruitment and retention initiatives we’re implementing in our own institutions, but how the FBA can help. As

in the industry as well as vendors and partners. FBA President and CEO Kathy Kraninger presided over her first conference, and I must applaud the FBA team for a truly exceptional event. The briefing with OFR Chief of Bank Regulation Terry Hughes was timely and provided great insight on current legislation. Our keynote speakers were another highlight of the event; Stifel’s Chief Economist Dr. Lindsey Piegza gave us an informative economic outlook covering macro-economic trends in consumer spending and investment, while author Don Yaeger shared the moving personal story of Warrick

many of you know, this is a priority for the association as outlined by our new 2024-27 strategic plan. It is so important to engage the next generation of banking leaders who will carry the mantle of advocacy and education for our industry. We have a responsibility to train and develop our rising stars. If you or your colleagues have thoughts on this topic or were unable to attend the reception at the Annual Meeting, please reach out to Kathy Kraninger or the FBA team. The FBA welcomes our feedback. Congratulations to the deserving award winners and new officers who were recognized at the event!

“NEW TO THE AGENDA WERE THE PEER GROUP DISCUSSION AND HORIZON BANKER RECEPTION, BOTH OF WHICH ELICITED

DISCUSSION AND BRAINSTORMING AROUND THE CHALLENGES AND

OPPORTUNITIES OUR INDUSTRY IS FACING.”

Dunn to illustrate his 16 characteristics of greatness. New to the agenda were the Peer Group Discussion and Horizon Banker Reception, both of which elicited discussion and brainstorming around the challenges and opportunities our industry is facing. During the Peer Group Discussion, I had the opportunity to sit with a group of peers from institutions of a similar size. The moderator posed questions for us to discuss as a group, and I thought this was a valuable exercise. It was helpful to hear my

Other highlights of our 136th Annual Meeting included our vendor trade show, BankPac Silent Auction, and our final gala with awesome musical entertainment by Deuces Wild Dueling Pianos. If you were unable to join us, there are plenty of other opportunities to get involved in the latter half of the year. Check your inbox and visit FBA’s website for more information about upcoming events and initiatives. I look forward to seeing you!

4 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

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PRESIDENT'S PERSPECTIVE

REBUILDING TRUST TO COUNTER THE REGULATORY TSUNAMI

BY KATHY KRANINGER, FBA PRESIDENT AND CEO

T rust is the glue of life. It's the most essential ingredient in effective communication. It's the foundational principle that holds all relationships.” Stephen Covey, American author and educator on leadership. Gallup recently issued its annual poll of public confidence in institutions, data it has collected since 1979. What is the level of public trust in

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driven by a shared mission and set of values. And people – with faces and names – have the ability to change the direction and perception of institutions through transparency, communication and trust. What does all of this have to do with the regulatory tsunami we are facing from Washington and the state level activity around ESG and anti wokeness? A lot.

the police, Congress, medical system, banks and other institutions? Sadly, though not surprisingly, Americans’ trust in institutions, whether they are public or private, remains at all-time lows. While banks have generally fallen in the middle of the pack among institutions, trust in banks is lower today than it was during the financial crisis and the savings and loan crisis (2008 Gallup poll), with only 27% of Americans having a great deal or quite a lot of trust in banks as institutions. We fare slightly better than the presidency (26%),

The trust deficit and crushing regulation are a vicious cycle. The recently issued Spring 2024 Unified Regulatory Agenda (note that key Federal regulatory and legislative items can be found on the Federal Issues Members Only page by logging into FBA’s website) is case in point. As if the sheer volume of activity is not enough, many of the actions are unwarranted, overbroad and outside the respective agency’s statutory authority. The CFPB alone has more than a dozen regulatory initiatives ongoing, including final rules our industry partners are

“PEOPLE — WITH FACES AND NAMES — HAVE THE ABILITY TO CHANGE THE DIRECTION AND PERCEPTION OF INSTITUTIONS THROUGH TRANSPARENCY, COMMUNICATION AND TRUST.”

and it goes down from there with newspapers, the criminal justice system, big business, television news and Congress (which sits at 9%!). It is easy to demonize institutions as faceless and nameless, seemingly unaccountable and out of control. Yet, institutions are made up of people

fighting through litigation. The good news? When we put names and faces to those institutions, they fare better. People have higher trust when asked about the performance of their congressional representative, banker and CEO/ employer (myriad sources: Pew, ABA and Morning

6 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

Consult polls, Edelman Trust Barometer and other sources). Personal connection and engagement matter. And who knows that better than bankers? As you work in your communities and support your customers, you are building that trust. At FBA, we are looking to amplify that positive message and do the same. As a first step, we are working with the Florida Chamber of Commerce to build bank presence data

and eventually additional community impact data into the Florida Gap Map. We also want to support the Florida Scorecard, where you are already engaged in related activities. If you are not familiar with these efforts but want to support, please feel free to reach out to me, FBA Director of Communications Suellen Wilkins or the FBA staff. More to come on these important initiatives!

THE FUTURE OF FLORIDA BANKING MAGAZINE

FLORIDA BANKING MAGAZINE IS MOVING TO A BIMONTHLY PUBLICATION SCHEDULE

Our readers can still expect: • Stories featuring banks and their good work in communities • Legislative & regulatory updates • Thought leadership articles • Kudos • Event recaps & photos …and more! The FBA team is also excited to explore new communications channels as referenced in the 2024-27 strategic plan.

THE MAGAZINE OF THE FLORIDABANKERSASSOCIATION WWW.FLORIDABANKERS.COM SEPTEMBER 2020 THE FLORIDABANKERSASSOCIATION THE MAGAZINE OF THE FLORIDA BANKERS ASSOCIATION WWW.FLORIDABANKERS.COM JULY2024 HE MAGAZINE OF THE FLORIDA BANKERS ASSOCIATION WWW.FLORIDABANKERS.COM SEPTEMBER 2020 AGAZINE OF THE FLORIDA BANKERS ASSOCIATION WWW.FLORIDABANKERS.COM AUGUST |SEPTEMBER 2024

FBA President and CEO Kathy Kraninger: Shaping the Future

FirstBank Florida: Fostering Strong Community Relationships

WWW.FLORIDABANKERS.COM AUGUST | SEPTEMBER 2024 — 7

8 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

FirstBank Florida: Fostering Strong Community Relationships

F irstBank recently celebrated its 75th anniversary and 30 years on the New York Stock Exchange in 2023. Founded in 1948 as the first savings and loan institution in Puerto Rico, the entity evolved and became a commercial bank, then a savings bank, before going public in 1987. In 2004, it further extended its reach by opening

30-year tenure on the NYSE floor, have been momentous occasions,” Lacasa said. “It was an honor to visit New York and ring the closing bell. The experience symbolized not only personal achievement but also the collective success of a dedicated team.” Lacasa credits the bank’s positive culture and strong values for its success; he and his

a lending office in Miami and later acquiring UniBank and its subsidiaries in Florida. This strategic growth continued into 2006 when the company solidified its presence in South Florida, launching 10 new branches and changing its name to FirstBank Florida. Holding company First BanCorp is a full-service provider of financial services and products with operations in Puerto Rico, the mainland

team are committed to fostering an inclusive and family friendly environment, prioritizing loyalty and retention. Lacasa’s leadership team “reflects the diversity and multiculturalism of beautiful South Florida.” “Building long

“WE’RE VERY WELL DIVERSIFIED. THAT’S THE BEAUTY OF BEING A BANK THAT OPERATES IN THREE DIFFERENT REGIONS.” — JOSE MARIA LACASA

standing relationships in banking is extremely important, both with clients and also the internal organization. You need strong relationships with your head office in order to make things happen and accomplish goals,” Lacasa said. FirstBank’s internal engagement committee is responsible for creating initiatives to encourage and retain talent, recognize deserving employees, and promote a positive culture. The annual bowling tournament, a favorite among employees, is one such

United States, and the U.S. and British Virgin Islands. Today, the bank has $18.9 billion in assets and more than 3,000 employees. “We provide our customers with the personal banking experience of a local community bank and the extensive infrastructure and strong lending capabilities of a larger institution,” said FirstBank EVP and Florida Business Director Jose Maria Lacasa. He joined First BanCorp in 2013 and oversees the management and operations for the Florida region. “We’re very well diversified. That’s the beauty of being a bank that operates in three different regions.” The institution marked its milestone anniversary with a celebration in Puerto Rico at the Coca-Cola Music Hall, attended by more than 2,000 employees, and a talent show put on by the employees of all three regions. A Florida-based employee represented the bank very well and won second place overall. “Celebrating significant milestones, such as the bank’s 75th anniversary and

FirstBank Florida, Continued on page 10

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The FirstBank Florida leadership team.

an internship program for college and high school students. Interns have the privilege of learning from all the different areas of the bank. Lacasa is proud to share that the bank has a practice of hiring summer interns.

FirstBank Florida, Continued from page 9

friendly competition that brings everyone together for a fun team-building experience. These events, ranging from family picnics to various social gatherings,

are integral to nurturing camaraderie and a sense of community among team members. “I believe one of the most essential characteristics for a highly functioning team — perhaps the single most important characteristic — is trust,” Lacasa said. “We really take care of our employees. We want them to be happy, engaged and motivated. At FirstBank, we foster a culture where each individual feels like the bank’s success is their own.” According to Lacasa, the

When it comes to recruiting the younger generation, Lacasa understands the bank must adapt to change — whether by creating unique opportunities for engagement or implementing new tools and technologies. “Sometimes we have to make an effort to ‘sell’ the young people on our industry,” Lacasa said. “We appeal to them by sharing the impact we make in our communities.” FirstBank’s dedication to its communities is

“AT FIRSTBANK, WE FOSTER A CULTURE WHERE EACH

INDIVIDUAL FEELS LIKE THE BANK’S SUCCESS IS THEIR OWN.” — JOSE MARIA LACASA

bank’s top recruitment strategy is to promote within the organization, providing its employees with opportunities for career growth. The bank also has

exemplified through its philanthropic priorities, which include education, health, housing, environment, revitalization and economic development.

10 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

“Whether it involves planting trees, preparing gift boxes for those in need, cleaning beaches, sponsoring events or mentoring youth, FirstBank’s partnerships not only showcase a commitment to giving back, but to fostering strong relationships with the communities we support,” Lacasa said. Lacasa is personally involved in the community. Last year, he served as president of the South Florida Banking Institute, a nonprofit professional organization that serves as a resource for bankers seeking to expand their knowledge and capabilities by providing education, research and networking opportunities for bankers in South Florida. Lacasa has served on the organization’s board for over 10 years; his term as president ended in June. “I feel blessed because I really enjoy what I do,” Lacasa said. “I like helping clients find solutions.” As a commercial bank, FirstBank recognizes the unique challenges small businesses face and strives to help them succeed and promote financial inclusion. “If you finance a hospital, you are financing healthcare and promoting community wellbeing. If you finance a shopping center, you are financing convenience and economic growth for the local community. If you finance a highway, you are creating better infrastructure. Each of these investments plays a pivotal role in elevating the quality of life and can drive positive change within the community,” Lacasa said. For the Florida Banking magazine cover, Lacasa posed at the Bayshore Club, a property the bank financed in the Coconut Grove neighborhood. The waterfront restaurant overlooks Biscayne Bay. The project was particularly meaningful for the local community after the destruction of Hurricane Irma in 2017; it took several years to remodel the public marina and the surrounding area. “These are the types of projects we are passionate about supporting, as they allow us to contribute to the community’s growth and vitality. By participating in these projects, we are not just investing in the area, but we are becoming an integral part of the community’s development journey,” Lacasa said.

José Maria Lacasa is executive vice president and Florida business director. He oversees the management and operations for the Florida region including Personal and Business Banking, Commercial Banking, Corporate Banking and Residential Mortgage. In his role, Lacasa is responsible for driving future growth in the region and achieving great regional results, along with continuing to enhance brand and client satisfaction in collaboration with the regional leadership team. He joined First BancCorp in 2013 and prior to his current role he was Senior Vice President and Corporate Banking Director. He has more than 20 years of banking experience and has held senior executive positions at other financial institutions, domestic and foreign, and served in various roles, including Credit Risk. Before moving to the United States, Lacasa worked with BNL / BNP Paribas Group in the Corporate Banking and the Capital Markets Departments in their London office. Above and beyond his banking responsibilities, Lacasa holds leadership roles in various South Florida civic organizations. He served as president of the South Florida Banking Institute and was appointed to the Florida Bankers Association Government Relations Council. He serves on the Board of Governors of the Greater Miami Chamber of Commerce and the Center for Financial Training and is a member of the Beacon Council. Lacasa received a bachelor’s degree in business management in finance & economics from the CUNEF School of Business (Spain). JOSÉ M. LACASA, EXECUTIVE VICE PRESIDENT AND FLORIDA BUSINESS DIRECTOR

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TRUST AND WEALTH MANAGEMENT MINI FEATURE

UNITED SOUTHERN BANK’S TRUST DEPARTMENT: DEEP COMMUNITY INVOLVEMENT AND SERVICE

U nited Southern Bank (USB) was established in 1937 as Umatilla State Bank. Originally catering to the financial needs of Downtown Umatilla residents, especially those in the citrus industry, the bank expanded its services and geographical reach, rebranding as United Southern Bank in 1986. Since its founding, USB has been on a mission to be the community bank that cares about its customers, employees, shareholders and communities. Throughout its nearly 86-year history, USB has partnered with and supported hundreds of community-minded organizations with thousands of volunteer hours and countless charitable contributions. To further USB’s mission to serve the local community with a deeper level of financial management, the bank’s Trust Department was established in 1989. Earlier this year, United Southern Bank’s Board of Directors took another major step in pursuit of the bank’s mission with the establishment of the Sunshine Community Trust. Through the stewardship of generously donated funds designated to support beneficial community causes, this new community trust will provide financial support to local community and charitable organizations. The Sunshine Community Trust is a natural manifestation of USB’s long history of deep community involvement, community service, and philanthropic support. The Sunshine Community Trust’s first grant award went to the Lake Tech Scholarship Fund, a program that provides financial assistance to local students pursuing technical education. This initiative aligns with United Southern Bank’s commitment to support education and local workforce development. “United Southern Bank is extremely honored and humbled to embark on this amazing new endeavor through the Sunshine Community Trust,” said Andre Nacaxe, senior trust officer and senior vice president. “As a community bank, we strive to partner with

and improve our local community. We strongly believe in Lake Tech’s mission and look forward to assisting them in completing it through this grant.” Nacaxe does not shy away from a challenge. He joined the USB Trust team in 2020 amidst the pandemic, bringing with him a commitment to growth, innovation and community

NACAXE

engagement. He quickly noted that, although the Trust Department had a strong foundation, it needed to make some changes to remain relevant and provide the highest level of service to USB’s customers. A graduate of Boston University with a dual degree in Economics and International Relations, Nacaxe brings a wealth of experience and strategic vision to the Trust Department. In 2011, he graduated from Cannon Trust School and received the Certified Trust and Financial Advisor (CTFA) designation. Nacaxe received his Master’s in Business Administration degree from the University of Central Florida in 2019, further enhancing his leadership capabilities. The Trust Department is also led by Ann Tallman. A veteran in trust administration, Tallman has been in the Lake and Sumter Counties’ trust and investment services industry for more than 36 years. She has experience in management, business development, operations, employee benefit plan administration, guardianships, personal trust and fiduciary taxes. Tallman served on the FBA Trust Education Committee

12 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

for more than 12 years, holding positions as a member, chairperson and Trust and Investment conference chair. Additionally, she served on the Trust Division Executive Committee for 10 years and was involved in many other committees prior to that time. She graduated from the FBA Graduate Trust School at the University of Florida and attended Lake Sumter State College. Tallman is a Certified Trust & Financial Advisor, Accredited Estate Planner®, and Trust and Estate Practitioner. Under Nacaxe’s leadership and with the help of his team, the department has transitioned to a state-of-the-art cloud-based accounting system. This upgrade has led to a remarkable transformation, increasing flexibility, accessibility, and efficiency in the department’s financial operations. In addition to operational improvements, financial gains have also occurred. Over the past five years, the assets under its management have surged by 45 percent, nearly reaching the quarter of a billion-dollar mark. This growth is a testament to the Trust team’s management skills as well as to USB’s commitment to top-notch service. The department stands out for its personalized approach, tailored investment strategies, and comprehensive estate planning services, making it a trusted partner for individuals and families in the region.

The Trust Department’s substantial growth has not been isolated. Since USB’s founding, Central Florida’s economy — historically driven by citrus production — has experienced significant changes and rapid residential development. USB has capitalized on the region’s population growth, establishing 12 branches throughout Lake, Marion and Sumter Counties. As the baby boomer generation flocks to the area, USB is prepared to meet the needs of an unprecedented regional migration. USB’s branches strategically span between the two fastest-growing metropolitan areas in the nation: The Villages and Orlando. The Villages represents the largest private development in the country, with more than 144,000 residents; it is projected to continue expanding for another 20 years. Orlando is Central Florida’s most populous city; it witnessed its highest-ever influx of residents between July 2022 and July 2023. No matter how much the region grows, USB and the USB Trust Department are ready to adapt to meet the needs of their customers and the local communities they serve. With 12 offices in the Lake County area and more than 86 years of community banking experience, United Southern Bank remains committed to building strong customer relationships, prioritizing community service, and continuing with its mission that began in 1937: To be the bank that cares. ̮̭

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SEPTEMBER 19-20 RITZ CARLTON, FORT LAUDERDALE

To Register:

www.FloridaBankers.com FBA Director of Education Marilyn Matherne, mmatherne@floridabankers.com

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BANCSERV ENDORSED PARTNER: LIVELY

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WHAT FINANCIAL INSTITUTIONS SHOULD LOOK FOR IN AN HSA PARTNERSHIP

BY ADAM BERRY, DIRECTOR, NATIONAL BANKING PARTNERSHIPS AT LIVELY

E very customer account at a community bank tells a story. Each data point, whether it’s a mortgage balance, small business loan, credit card transaction or even a home address, reveals valuable insights into the behaviors and needs of a bank’s clientele. This wellspring of intelligence can provide banks with the opportunity to multiply their revenues and improve the economic health of their communities. For financial institutions that are looking for new revenue streams or ways to reach new customers,

But not all HSA providers are created equal and thus they won’t extend the same benefits to businesses and their employees, or the financial institutions that offer them. Offering an HSA product can take time and precious resources from other projects, so if financial institutions want their product to increase deposits and bring the most value to the bank, they’ll need a partner that can do much of the heavy lifting when it comes to plan administration, onboarding, compliance and customer service.

What are your options when offering an HSA? Whether you’re looking to offer an HSA product for the first time, or offer a better HSA product than you do currently, consider the best practices below to help guide you in selecting the right HSA partner. When offering an HSA, financial institutions have four general options: 1. An in-house demand deposit account. Building and maintaining an in-house HSA takes a lot of time and resources (especially to do it right) and usually results in

and retain existing ones (both commercial and retail), offering a Health Savings Account (HSA) can be a crucial piece of business strategy. HSAs, and their corresponding High Deductible Health Plans (HDHPs) are a most popular way U.S. workers and employers alike can save on health insurance costs while simultaneously improving employees’ financial health. In fact, more than 53 percent of private sector workers are enrolled in an employer-sponsored HDHP.

“PARTNER WITH AN HSA PROVIDER TO OFFER A COBRANDED PRODUCT WITH A PERSONALIZED APPROACH AND A COHESIVE CUSTOMER EXPERIENCE.”

But only 24 percent also participated in an HSA alongside their HDHP plan. This presents a sizable opportunity for banks to step in and offer an HSA product that will help current and potential clients save for healthcare expenses and even retirement. In fact, after age 65, HSA account holders can continue to withdraw money from their account tax-free for qualified healthcare expenses and on any other type of expenses at their current tax-rate.

a non-competitive product that functions more like a checking account than a dynamic savings and investment account. It lacks the capabilities required to be competitive like claims integration, digital receipt storage, engaging education, employer platform functionality, and APIs for payroll and benefit administration integration. It further requires a dedicated team of customer

14 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

your financial institution must spend on the HSA product, including tax reporting, operations and compliance. In addition, it will not only provide marketing collateral and distribution assistance, but will help your internal commercial teams close HSA sales and drive net-new customers into the bank to build new relationships. The best HSA partnerships should allow your institution to offer a competitive solution for market differentiation, customer acquisition, deposit growth, and revenue with minimal lift for the financial institution itself. Not all HSA providers are created equal; how to find the right fit for your institution For a successful HSA partnership that ensures you will maximize the benefit of offering an HSA, look for an HSA administrator that offers a partnership model. That means the financial institution serves as the custodian for the HSA accounts and enjoys the benefits of co-branded cards and web portal experience, while the HSA administrator handles plan administration, customer education, onboarding, customer service, compliance maintenance, sales and marketing support, and more. In order to implement, sustain, and grow an HSA offering, financial institutions need to look for an HSA partner that exhibits these characteristics: • Allows you to hold the deposits and keep the interchange, spread and fee revenue. • Easily integrates into your current systems infrastructure. • Helps you build a plan to achieve strategic goals and objectives each year, including clear and actionable reporting features and an easy-to use dashboard for online account management. • Includes comprehensive customer support, onboarding, and extensive resources for internal HSA Partnership, Continued on page 16

service employees, compliance officers who can offer deep industry knowledge and guidance around federal HSA guidelines, and operational oversight on a daily basis, all of which adds to the overhead stripping away any potential for profit. 2. Software Purchase. You can buy a ready-made HSA solution with existing technology platforms. However, they can be incredibly expensive and offer no opportunity to hold deposits, keep interchange, obtain customer data, or generate revenue. These platforms are not customized or branded to your institution and come with additional requirements to staff a team, including sales and customer service representatives, to manage these solutions internally, which adds to the overhead expense. 3. Selling your book of business. You can outsource your HSA product and in doing so, sell your book of business, along with its deposits and revenue potentials, to another financial institution that is offering a more modern HSA product and may also cross sell other financial products that you already offer. 4. Partner with an HSA provider to offer a cobranded product with a personalized approach and a cohesive customer experience. You’re looking for a partner with a proven track record of existing banking relationships for reference, engaged account holders and employer groups, and a platform that both fully integrates with your current systems and can be branded to the bank. Of these options, a true partnership solution is the most advantageous. It can and should offer an HSA product that allows you to retain all of the core deposits, interchange revenue, and fee revenue while having access to all customer data for relationship building and cross-sales. It will reduce the overhead

WWW.FLORIDABANKERS.COM AUGUST | SEPTEMBER 2024 — 15

Lively HSA: A different kind of partnership With a Lively partnership, you are the custodian of your HSAs. You hold the deposits, collect fee income, and we take care of the rest. We handle risk mitigation and compliance support, plan administration including onboarding, customer support, account management, internal partner enablement and staff education. We price our partnership solution so that financial institutions get the greatest ROI on their HSA. Our fee schedules are clear, transparent, and include no hidden fees. Our HSA is also a top-rated product that has been expressly designed with the user at the top of mind. It includes a mobile app, account holder and employer dashboards for easy account management, two different investment accounts as well as a savings account option, debit cards and unparalleled customer service for both employers and account holders. We also offer co-branded sales enablement materials and knowledgeable sales professionals to help you expand relationships and close deals. HSAs are long-term, portable accounts that allow financial institutions to establish lifelong relationships with their customers. Given the rise in the cost of medical care year after year, as well as the retirement savings gap in the United States, HSAs are not just another way to save money. They can be an integral piece to the financial wellness puzzle for current and potential customers, enabling them to save for healthcare costs today and in retirement. Offering an HSA product now, establishes your financial institution as an essential partner to

HSA Partnership, Continued from page 15

staff as well as customers, including compliance help and communications when regulatory changes affect HSAs. • Offers transparent pricing so that you understand the true cost of offering the product, both to the bank and the customer. Make sure to ask for the fee schedule. It should include the fees that will be charged, when they will be charged and ways to avoid being charged fees. • Enables you to expand relationships with existing customers and provide enablement resources to help sell the HSA. • Offers easy-to-use technology, including dashboards and reporting for administrators. • Has strong market intelligence and understands how your HSA competes against both local institutions and “big banks.” For your customers, both commercial and retail, look for an HSA partner that offers: • A user-friendly platform and mobile app that helps users easily understand their account balance, saving and spending. • Data integration with other business units including customers’ HR information systems, payroll, benefits administration, etc. • Account holder and client education to enable you to empower customers with the relevant information to effectively use their accounts to meet their unique financial goals. • At least one investment option.

them and the generations of savers who come after them. HSAs are the future of financial wellness, now is the time to get on board. Adam Berry oversees Lively’s Financial Institution Partnerships channel and works with banks across the country to develop and implement HSA product solutions. Over the last 20 years, Berry has gained a significant amount of HSA experience working for national TPAs and creating HSA programs within brick and-mortar regional banks. HSAs are a personal passion of his, and Berry specializes in bringing entities together to discuss transparent, unique, and innovative solutions that result in a better way to do business, increase revenue for Lively’s banking partners, and improve the lives of their mutual customers.

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Learn about what CEIS Review can do for you. www.ceisreview.com or 888-967-7380 what CEIS Review d

16 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

Z 2024 SILENT AUCTION DONORS

A sincere thank you to all of the banks and individuals who contributed to the 2024 BankPac Silent Auction.

THANKS TO YOUR GENEROUS CONTRIBUTIONS, $47,000 WAS RAISED FOR OUR STATE BANKPAC!

Pacific National Bank Carlos Fernandez-Guzman Popular Bank Israel Velasco Raymond James Ban k Amanda Stevens Regions Financial Corporation Jason Isbell Republic Bank Jim Kirkpatrick ServisFirst Bank Guillermo Chiang S outhState Bank Mike Sleaford Sunstate Bank Yvonne Debesa Surety Bank Ryan James The Bank of Tampa Corey Neil The Breakers United Southern Bank Valley Bank

First Federal Bank John Medina First Horizon Bank Mario Trueba First National Bank of Mount Dora Bob White First National Bank of Pasco Jim Esry First National Bankers Bank Chris Alexander Lourdes Mendes Rob Trott First State Bank of the Florida Keys Robert Spottswood Florida Bankers Association BancServ Anthony DiMarco Education Department Kathy Kraninger Membership Department Kenneth Pratt Grove Bank & Trust Jose Cueto Gulfside Bank Dennis Murphy Igler Pearlman, PA Richard Pearlman Jordan Consulting Keith & Lesley Jordan Locality Bank Keith Costello Mainstreet Community Bank of Florida Ben FlowersMarine Bank & Trust Bill Penney Shaun Williams One Florida Bank Rick Pullum

American National Bank Ginger Martin Anchor Bank Nelson Hinojosa Bank of Belle Glade Steve Prielozny BankFlorida Bud Stalnaker Barwick Banking Company Jim Bange Capital City Bank Beth Corum Central Bank John Thompson Century Bank of Florida Gabriel Vivero Citizens Bank & Trust Greg Littleton Citizens First Bank Jay Bartholomew City National Bank of Florida Jorge Gonzalez Commerce Bank & Trust Ray Colado Community Bank Jason Crowe Community Bank of the South Bill Taylor Dorsey Consulting Joe & Karen Dorsey Finemark National Bank & Trust Harlan Parrish First Bank, Clewiston Andrew Couse Miller Couse Carey SoudFirst Colony Bank of Florida Ralph Betancourt

Jeff Armstrong Barclay Harless

Waterfall Bank

Andy Williams Winter Park National Bank Sid Cash

Michael Crisante David Dotherow

And thank you to Seven Hills Auctions & Buddy Lee for their fine auctioneering services!

Many thanks to our auction sponsors:

WWW.FLORIDABANKERS.COM AUGUST | SEPTEMBER 2024 — 17

GOVERNMENT RELATIONS

ELECTIONS WILL BE HERE SOON

BY ANTHONY DIMARCO, FBA EXECUTIVE VICE PRESIDENT AND DIRECTOR OF GOVERNMENT AFFAIRS

F lorida’s Primary Election Day is Tuesday, August 20. Mail-in ballots were sent in mid-July to those who requested them. The mandatory early voting period is August 10-17; however, counties are free to add dates before or after those dates. Be sure to check with your local Supervisor of Elections Office on early voting dates. Besides local offices on the ballot, you may see one U.S. Senate seat, a congressional seat, a Florida Senate or Florida House seat as well. This will depend on your area and party.

Dotie Joseph (HD 108). There will be 80 House races on the primary ballot around the state. Kenneth, Gina and I are engaged in the election season. First, we attended the Florida Chamber Political Institute’s candidate interviews around the state. We interviewed more than 65 candidates from both parties running for the Florida House and Senate. Some were very impressive, others less so. But, you do get a sense in the interviews what issues are most important in the candidates’ communities.

We are also beginning our campaign help for candidates. As I write this, Kenneth and I have finished walking with candidates from two open House seats in the northeastern part of the state. Gina and I will be doing the same in the Tampa Bay area. There is nothing like contributing sweat equity with the candidates in the July and August heat (it was over 100 degrees on the Tuesday we walked). We will be crisscrossing the state knocking on doors, waving signs, stuffing envelopes and making phone calls for pro-banking candidates.

“WE ASK OUR MEMBERS TO LET US KNOW IF THERE ARE STATE OR FEDERAL CANDIDATES YOU WOULD LIKE THE FBA TO SUPPORT.”

One member of congress was elected without any opposition — Rep. Sheila Cherfilus-McCormick (D-CD 20). Only three congressional seats will not appear on the primary ballot: CD 4 — Rep. Aaron Bean is the incumbent, CD 19 — Rep. Byron Donalds is the incumbent and CD 28 — Rep. Carlos Gimenez is the incumbent. The other 24 congressional seats will have a primary.

In the Florida Senate, Carlos Guillermo Smith (D) was elected without opposition to SD 17. Seven of the other 19 seats will have a primary.

We will reach out to you to see if you would like to join us. We look forward to having you there with us. We ask our members to let us know if there are state or federal candidates you would like the FBA to support. Also, please reach out and congratulate any of the candidates who have already been reelected

The Florida House saw nine incumbents elected without opposition: Reps. Yvonne Hinson (HD 21), Jervonte "Tae" Edmonds (HD 88), Kelly Skidmore (HD 92), Christine Hunschofsky (HD 95), Dan Daley (HD 96), Lisa Dunkley (HD 97), Hillary Cassel (HD 101), Felicia Robinson (HD 104) and

18 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

without opposition. Finally, please take the time to work with a candidate. Money is important, but giving your time is a hidden asset. Furthermore, we may be coming to your area to hold visits or small lunches with elected officials. We hope you can join us to educate them about the day-to-day issues your institution is experiencing, whether it be the cost of compliance, fraud or general issues in your community. You need to share how these issues impact your ability to meet your customers’ needs. The cost to your institution in money or time is irrelevant until you show how it affects the official’s constituents. Please keep this in mind on your visits. We are also continuing our work to combat fraud. The FBA will be more focused on this than on any

other state issue — and legislators want to work with us. For example, when Kenneth and I said this will be a focus, candidates told us to let them know how they can help. As you know, fraud is rampant in every community. We will need your help in this endeavor. Please send examples of the types of fraud you are witnessing at your bank. We want to use this to hone our messaging for the best impact. Second, please let us know what messaging (and format) has helped your customers. We ask that you use this to further inform your customers. Third, please send us any legislative or regulatory ideas you think will help. We will work with the GRC and the Board to determine the best next steps. Finally, help us explain to legislators how these ideas or actions will help your customers.

Let’s find a way.

First Horizon Correspondent Services is a leading choice for Florida banks. Benefit from the expertise of a dedicated Relationship Manager who has a deep understanding of Correspondent Banking, to provide you with tailored solutions – from expert advice to quick decisioning for the capital you need. We have a reputation in Florida as a preferred partner for Correspondent Banking.

CORRESPONDENT BANKING

Melissa Ainley Senior Vice President Correspondent Services Relationship Manager (M) 901-568-3341 (O) 941-487-3074 maainley@firsthorizon.com

©2024 First Horizon Bank. Member FDIC.

WWW.FLORIDABANKERS.COM JULY 2024 — 19

FBEF: FACES OF THE FOUNDATION

MEET FBEF SCHOLARSHIP RECIPIENT REBEKAH REFFORD

CRCM, SENIOR VICE PRESIDENT, LOAN ADMINISTRATION MANAGER

E ducation has always been an important part of Rebekah Refford’s 23 years in Florida banking. At the start of her career, Refford learned a lot about the financial industry while working as a teller. Working for a small community bank where the employees took on many different types of jobs, she handled consumer lending insurance while on the teller line. When an opening became available in the loan processing department, Refford transferred

line of defense for loan compliance, ensuring that all loans adhere to regulatory requirements and internal policies,” Refford said. Refford was fortunate to be able to attend many seminars throughout her years in banking as rules and regulations were constantly changing. With an operational background, she found it helpful learning the compliance aspect as well. Having that knowledge helped Refford become an effective leader, as her roles in loan administration led to her supervising

into that role. From there, she learned that there were tremendous growth opportunities in banking. Refford knew that she wanted to become a senior officer one day and, with the help of a mentor, was able to achieve the confidence and skills needed to become vice president of Loan Administration. She continued to grow in her career, adding to her knowledge of loan operations and compliance, which led to her current role with Marine Bank & Trust. “As the senior vice president, loan administration manager

loan administration and servicing staff. All of the training she received over the years helped her achieve her Certified Regulatory Compliance Manager (CRCM) designation from the American Bankers Association. Higher education was always encouraged by the banks she worked for, which was a helpful benefit as Refford worked to complete an associate’s degree in accounting, then a bachelor’s degree in business administration. She never thought she would continue to graduate school, but the FSU Juris Master degree in Financial Regulation and Compliance seemed like

“THE COURSES I COMPLETED

PROVIDED ME WITH A COMPREHENSIVE UNDERSTANDING OF THE REGULATORY LANDSCAPE AND ITS PRACTICAL APPLICATIONS WITHIN THE BANKING INDUSTRY”

a perfect fit. While she was excited to eventually complete her degree, Refford also said that she did not want her time in the Juris Master program to end, because of the value she was taking away from each course. Refford completed her degree in May, graduating with highest honors from FSU.

for a Florida community bank, I oversee the processing and servicing of both commercial and residential loans. My responsibilities also include managing the bank’s loan origination system as its primary administrator. Additionally, I serve as the first

20 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING