Florida Banking December 2025/January 2026

THE MAGAZINE OF THE FLORIDA BANKERS ASSOCIATION WWW.FLORIDABANKERS.COM DECEMBER 2025 | JANUARY 2026 FLORIDA B ANK I NG

Anchored in Community, Driven by Purpose F lagship Bank

DECEMBER 2025 | JANUARY 2026 VOLUME 41 | NUMBER 6 FLORIDA B ANK I NG

CONTENTS

Editorial & Executive Offices 1001 Thomasville Road, Suite 201 Tallahassee, FL 32303 850-224-2265 www.floridabankers.com

ON THE COVER

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Flagship Bank Anchored in Community, Driven by Purpose

Kathy Kraninger President & Chief Executive Officer kkraninger@floridabankers.com Suellen Wilkins Director of Marketing & Communications swilkins@floridabankers.com Keith Costello Chair Garrett Richter Chair-Elect Derek Jones Immediate Past Chair Advertising & Production Offices NFR Communications, Inc. 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 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 2025 For reprints or single issues, contact 800-336-1120

Left to right: Board Chair Paul Wikle, CEO & EVP David Key, and President & Senior Lending Officer Anthony DiTinno

Photos by Jonathan Fanning, Jonathan Fanning Studio & Gallery.

President's Perspective FBA Update — Halfway Mark for the Strategic Plan and Investing in Infrastructure

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Chair’s Message All Together Now: Paddling for a Purpose

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Government Relations The Property Tax Debate A Major Focus of the 2026 Session NFP Executive Benefits, LLC

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How Financial Ratios Shape Executive Benefit Strategy in Community Banks Faces of the Foundation: Katherine Guerrero Celebrating Our FBEF Donors BankPac Shaping the Future of Florida Banking Bank on Your Future at UWF and FSU 2025 Trust & Wealth Management Conference Driven by Purpose: The People Powering the FBA Personal Transactions Kudos Upcoming Events & Ad Index

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2 | FLORIDA BANKING

FBA Update Halfway Mark for the Strategic Plan and Investing in Infrastructure PRESIDENT'S PERSPECTIVE

budget and financial systems must support more forecasting and analysis while maintaining our strong audit capability. I am proud to say that we have a Technology Roadmap in place and are beginning implementation. Second, we are taking a fresh look at the FBA Headquarters building. It has been a phenomenal investment for the organization and our home for 30 of our 137 years. Some of you saw the welcome refresh of our main floor at last year’s Capitol Day+ Capitol Night, which included painting and a lobby sitting room. Before we committed to the third-floor refresh, the FBA received an unsolicited offer to purchase our building — one that is enabling us to look at our needs going forward. While the plan to refresh gave us a new look, we have to acknowledge our FBA headquarters is not ideally structured to support our team and the way we work. Our building is aging, larger than we need, configured as individual offices on two floors, not easily wired for technology upgrades, and not in an optimal location for Capitol access. This move would be made only after careful consideration of what will best support the FBA’s staff, mission, membership and future. We are exploring options that could: • Put FBA downtown in sight of the Capitol • Improve meeting and entertaining capacity • Support hybrid work and flexible use • Enhance technology and security • Continue to honor our history • Minimize building maintenance and management responsibilities • Create a modern environment President's Perspective, Continued on page 11

It may sound obvious, but if athletes don’t keep adapting to new competition, training methods and conditions, their performance will decline. In business as in sports, yesterday’s strength does not guarantee tomorrow’s wins. To position FBA to adapt, we developed our 2024-2027 strategic plan — focused not just on our outcome goals, but on shaping the organization to be successful in the face of changes ahead. We set our values, realigned roles, and set expectations for improved communication. The people powering FBA are featured in this issue; I appreciate the commitment they bring to our team and to serving all of you every day! To meet the future, we must invest in the infrastructure to support our staff, including our IT and our headquarters building. I have talked with many of you about establishing a community platform for our members that would enable more efficient communication and engagement. To make that a reality, we have to assess and potentially replace our association management and communication platforms that are not functioning or serving us well. Technology should enhance — not complicate — how we work, and our goal is to make every interaction with the association smoother, faster and more intuitive. FBA also needs to improve data management and reporting — for example, tracking our membership as people change roles and banks, banks as their business changes in Florida, and our members’ engagement with FBA. We are looking to report more meaningful measures — not just how many members FBA has at a point in time, but the trends over time. Our

FBA PRESIDENT & CEO “

KATHY KRANINGER

I always had to keep improving my skills in order to remain competitive and keep winning.”

— EDWIN MOSES, AMERICAN OLYMPIC GOLD-MEDALIST

Upcoming Event Florida Supervisors Academy

Orlando Marriott Lake Mary 1501 International Pkwy Lake Mary, FL Learn more: floridabankers.com Jan. 21-23, 2026

WWW.FLORIDABANKERS.COM DECEMBER 25/JANUARY 26 | 3

All Together Now: Paddling for a Purpose CHAIR’S MESSAGE

Sometimes leadership takes us out of our comfort zones — and in this case, out of the boardroom and onto the open water. This summer, I had the privilege of joining two fellow South Florida banking leaders, Luis de la Aguilera of U.S. Century Bank and former FBA Chair José Cueto of Grove Bank & Trust, for Kayaking the Keys for Hope — a remarkable event conceived by longtime Florida banking-industry partner and SebastianStrong Foundation Founder Oscar Ortiz — that raised more than $230,000 to fight childhood cancer. What began as a simple idea — to trade briefcases for paddles and raise funds for a worthy cause — turned into a powerful reminder of what can be achieved when people come together with purpose. The three of us represent different institutions, yet for this effort, competition faded away. We were united not by market share or business strategy, but by compassion for families facing the unimaginable and by the shared belief that community leadership extends far beyond our offices. The SebastianStrong Foundation, founded by Ortiz — who spent more than two decades working alongside Florida banks and the FBA — was created in honor of his son Sebastian and has become one of the state’s most impactful voices in pediatric cancer philanthropy. Since its founding, the organization has directed nearly $7 million to fund groundbreaking childhood cancer research across leading institutions nationwide. Knowing that our paddle across the Keys could help fuel that work gave every mile

KEITH COSTELLO FBA CHAIR

“

Kayaking the Keys for Hope reminded me that leadership is about more than results; it’s about heart.”

L to R: Oscar Ortiz, Keith Costello, Luis de la Aguilera and Jose Cueto

— and every blister — meaning. As I reflected on the experience, it struck me how often the same spirit of collaboration defines our banking community across Florida. Though we may compete in business, we’re united by a deeper mission: strengthening our communities, creating opportunities and improving lives. It’s a mission that defines our work as bankers and our role as civic leaders. At the Florida Bankers Association, that spirit of unity is evident every day. We come together to advocate for sound policies, to share knowledge and best practices, and to support one another through change and challenge. Whether we’re championing innovation, developing talent, or helping communities recover after a storm, our collective impact is powerful — and deeply human. Kayaking the Keys for Hope reminded me that leadership is about more than results; it’s about heart. I’m proud to serve alongside bankers who lead with both. Together, we can continue to make a difference — one customer, one community, and sometimes, one paddle stroke at a time.

Reach Out! Challenge to other bank CEOs and leaders: If you want to help, reach out to Oscar at oscar@sebastianstrong.com

4 | FLORIDA BANKING

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Flagship Bank Anchored in Community, Driven by Purpose

By Suellen Wilkins, Director of Marketing & Communications

W hen a wave of bank mergers swept across West Central Florida a decade ago, the region’s community banking landscape seemed to fade beneath the tides of consolidation. For local business leader Paul Wikle, that void represented both a challenge and an opportunity. “In 2017, it felt like every community bank in our area was being merged or acquired,” recalled Wikle, now Chairman of Flagship Bank. “We saw a real need for a true local bank — one rooted in the community and led by people who live and work here.” By 2019, that vision came to life with the rebirth of Flagship Bank, under the West Florida Bank Corporation. From two branches at inception, Flagship expanded to six locations by 2022, covering the 727-area code from St. Petersburg to West Pasco County. It’s a growth story anchored in trust, talent and community relationships — hallmarks of Flagship’s identity. Local Leadership, Local Decisions For Flagship’s board and management team, community banking isn’t a slogan — it’s a shared way of life. “All of our directors live here in Pinellas and Pasco,” Wikle said. “Our kids and grandkids live here. We are involved in the same local schools, charities and small businesses as our customers. That makes every decision personal.” President and Senior Lender Anthony DiTinno said that community connection is what drives Flagship’s expansion strategy. “Banking is a people business,” he explained. “When we consider new locations, we build around the strength of a team — experienced bankers who share our culture of community involvement, ambition and service. The right people make the right branches succeed.” Wikle likens their recruitment approach to a professional draft. “We were able to bring in top talent from across the market,” he said with a smile. “It really was like having the next pick in the draft — one great banker after another who wanted to be part of something truly local again.”

A Relationship Beyond Banking That sense of local ownership runs deep — from boardroom to teller line. CEO David Key said it’s what defines the bank’s “relationship beyond banking” philosophy. “When you live in a community for decades, you end up serving not just customers but entire families — grandparents, parents and now their children,” Key said. “These are people we know well beyond the balance sheet. That fosters an incredible sense of trust.” Because decisions are made locally, customers don’t face the frustration of waiting for answers from faraway corporate offices. “Our board lives here, our lenders live here, and we probably know 90% of the clients who walk through the door, or we know someone who does,” Key said. “That familiarity allows us to make better, faster decisions based on real knowledge, not just numbers on a screen.” Culture and Core Values The Flagship team describes their culture in simple but powerful terms: trust, integrity and empowerment. “People bank with people,” said Nick Patel, EVP and Chief Banking Officer. “The name on the building matters less than the people inside of it. Our team members have long-standing relationships in this market, built on respect and integrity. Flagship gives them a platform to serve their clients the right way, without worrying about checking corporate boxes.” DiTinno agreed, noting community banking attracts a specific kind of professional. “It takes a certain type of banker to thrive in this environment,” he said. “We all came from community banks. We’ve worked together in different places and when Flagship formed, we had the chance to reunite the best of the best — bankers who care deeply about their clients and their communities.” That culture also draws talent naturally. “Word of mouth is powerful,” Key said. “Now that we’ve been around for six years, people seek us out. They know our character and our results, and they want to be part of that.”

6 | FLORIDA BANKING

L to R: CEO & EVP David Key, Board Chair Paul Wikle, EVP/Chief Administrative Officer Amy Perdek, President & Senior Lending Officer Anthony DiTinno, EVP/Chief Risk Officer Theresa Moss, EVP & Chief Banking Officer Nick Patel, and EVP & CFO Ken Bailey.

The Power of Listening One recurring theme across the leadership team is the importance of listening. “When a new business client walks in, we don’t start by pitching products,” DiTinno said. “We listen. We learn their story, their challenges, their goals. It’s amazing what you can discover if you just listen first and speak second.” That personalized approach is the foundation for trust. “A lot of our clients already know us through

referrals from friends, family or professional networks,” Patel added. “What they’re really looking for is accessibility and responsiveness — someone who answers the phone and takes ownership of their needs. The products come later; the relationship comes first.” Flagship bankers also serve as community connectors. “If a business owner needs a CPA, a contractor, or another local partner, we can make Flagship Bank, Continued on page 8

WWW.FLORIDABANKERS.COM DECEMBER 25/JANUARY 26 | 7

Flagship Bank, Continued from page 7

competitors — but with a personal touch. “Our clients love the simplicity and ease of use,” said Patel. “They can manage multiple business entities under a single login, which is a huge plus. We have every treasury management product a small or mid-sized business could need, but what sets us apart is that there’s always a real person behind the technology. If something doesn’t look right, they can call us and talk to someone immediately.” EVP and Chief Risk Officer Theresa Moss noted that technology and security go hand in hand. “We’re very intentional about how we implement new systems,” she said. “AI and other innovations are important, but so is ensuring our customers and their data are protected. We’re thoughtful about every step.” Fraud prevention is a major focus. “Sometimes customers get frustrated with new security tools,” Key admitted, “but our goal is to protect them. The technology we deploy is designed to safeguard their resources, even if it means an extra step or two.” Balancing Growth and Risk As Flagship looks ahead, controlled, disciplined growth remains the goal. “We’re well-capitalized and have the capacity to grow beyond $1 billion in assets,” Key said. “But we’ll do it thoughtfully, balancing growth with our risk tolerance and maintaining the high standards our customers expect.” Technology will continue to play a role, but not at the expense of personal service. “We’ll use technology to enhance what we do, not replace it,” Key said. “The magic that happens behind the scenes — efficiency, automation, AI — should never change what our customers experience on the front lines.” Moss agreed. “It’s about staying competitive while protecting what makes us special,” she said. “The human connection has to stay at the heart of everything.” Anchored in Purpose For EVP and CFO Ken Bailey, who has spent more than four decades in banking, Flagship’s strength lies in its clarity of purpose. “The alignment here is remarkable,” Bailey said. “From the board to the management team, everyone is focused on the same mission — being a true community bank for the 727 market. We’re not trying to do everything; we’re focused on doing community banking extremely well.” That unity, combined with decades of experience and a deep local presence, gives Flagship a steady hand at the helm. “We know who we are,” said Wikle. “We’re here to serve our neighbors, support local businesses and help this region thrive. That’s what community banking is all about.”

those introductions,” DiTinno said. “We’re not just their bank — we’re a resource.” A Team That Reflects Its Community Each banker brings unique expertise, allowing the team to serve diverse industries. “We have lenders who specialize in everything from real estate development to HOAs to working capital lines,” Key explained. “That diversity of experience lets us lean on each other and deliver tailored solutions. It’s one of the advantages of having such a seasoned team.” Wikle added that community involvement gives the team deeper insight into their clients’ character and needs. “Our bankers are coaching Little League, serving on nonprofit boards, volunteering at local events,” he said. “You learn a lot about people when you see how they act in the community — not just when they need a loan.” Celebrating Success Stories Ask the Flagship team to name a favorite customer success story and you’ll likely be met with thoughtful smiles. “Every client is a success story,” Key said. “Each one is unique.” Still, success is a regular topic of conversation. “At every board meeting, Nick shares a story about a customer experience that stands out,” Wikle said. “It keeps our mission tangible and reminds us why we do what we do.” Patel said those stories share a common thread. “In nearly every case, the client says, ‘Flagship listened. They responded. They acted.’ Sometimes we’re not even the lowest price option — but what we offer is responsiveness, trust and the assurance that someone will pick up the phone.” Customer Experience That Feels Different Walk into any Flagship branch and you’ll notice the difference immediately. “Our customers are greeted the moment they step in,” Patel said. “They’re not ignored; they’re acknowledged. It’s about making them feel welcome.” DiTinno added, “If there’s an issue, we own it. We don’t pass it off. We find a solution. That’s what makes a community bank different — we see problems through from start to finish.” The bank actively solicits customer feedback and the results speak for themselves. “We’ve even had people choose us because of our Google reviews,” Patel said. “That kind of word-of-mouth reputation means everything.” Technology with a Human Touch In today’s digital age, Flagship Bank offers the same online and mobile conveniences as larger

8 | FLORIDA BANKING

L to R: CEO & EVP David Key; SVP/Community Association Banking Director Larry Jones; SVP/Human Resources Director Joanne Brookins; VP/BSA Officer David Kimble; EVP/Chief Risk Officer Theresa Moss; President & Senior Lending Officer Anthony DiTinno; SVP/Loan Operations Director Melanie Wetzel; EVP/Chief Administrative Officer Amy Perdek; SVP/Deposit Operations Director Helen Asp; EVP & CFO Ken Bailey; Network Administrator Brennen Kirkpatrick; EVP & Chief Banking Officer Nick Patel; and Board Chair Paul Wikle.

Anthony DiTinno was a founding employee of USAmeriBank from 2006 to 2012. He joined Bay Cities Bank in 2012 where he was the Vice President, Commercial Lending and opened and managed a Loan Production Office in North Pinellas County. After Bay Cities Bank was sold in 2016, DiTinno joined Northstar Bank as a Vice President, Commercial Lending until the bank was sold to Seacoast Bank. DiTinno is an alumnus of Leadership of Pinellas and Leadership Tampa Bay. He is a member of the Countryside Little League Board and serves as Co-Chair with his wife, Melanie DiTinno, of “The Challenge” with the National Pediatric Cancer Foundation. DiTinno earned his bachelor of science degree in business management from the University of Central Florida. He is a graduate of the Florida School of Banking and Stonier Graduate School of Banking. David Key has resided in the Tampa Bay community for over 40 years. He has an extensive banking background and over 15 years of experience in other industries in C-suite roles. Key was President & CEO and a board member of Patriot Bank from 2009 until its sale in 2017. He held Regional and Market President positions with successor banks, including National Bank of Commerce, CenterState and SouthState, before joining Flagship Bank in April 2024. Key has been a board member of the Pasco Education Foundation for 20 years and has served the organization in many capacities, including a two-year term as Chairman. He has also been involved with the Florida Bankers Association and has served on the association’s Government Relations Council. Key has served on two Pasco County Board of County Commission appointed task force initiatives for Jobs and Economic Opportunities and Mobility Fees. Anthony DiTinno , President and Senior Lending Officer, United States Marine Corps, 1995-2001 David B. Key , Chief Executive Officer, Executive Vice President, West Florida Bank Corporation Paul Wikle, CCIM, is a former Director of Jefferson Bank, Whitney National Bank and Madison Bank. He has been in the commercial real estate business since 1985 and is President of Wikle Real Estate Services and Wollinka-Wikle Title Insurance Agency, Inc. Wikle serves as a board member on the Pinellas County Land Planning Agency and is a member of the Tarpon Springs Elks Lodge. He has served as a Director for the Florida Gulf Coast Commercial Association of Realtors; as President of the Tarpon Springs Chamber of Commerce and the Tarpon Springs Jaycees, and as Chairman of the Pinellas Realtor Organization and the Helen Ellis Memorial Hospital Foundation Board (AdventHealth North Pinellas). Wikle received his bachelor’s degree in real estate from Florida State University and is a native of Palm Harbor. Paul Wikle , Chairman of the Board, Flagship Bank & West Florida Bank Corporation

WWW.FLORIDABANKERS.COM DECEMBER 25/JANUARY 26 | 9

The Property Tax Debate A Major Focus of the 2026 Session GOVERNMENT RELATIONS

• HJR 203 by Rep. Miller phases out non-school homestead property taxes over a 10-year period. Each year, homeowners would receive an additional $100,000 exemption. After 10 years, all non-school homestead property taxes would be eliminated. • HJR 205 by Rep. Porras exempts Florida residents over the age of 65 from paying non-school homestead property taxes. • HJR 207 by Rep. Abbott creates a new homestead exemption for non school property taxes equal to 25% of the assessed value of the house. In addition to providing relief to current homeowners, it would benefit first time homebuyers. • HJR 209 by Rep. Busatta creates a new property insurance relief homestead tax exemption. Homestead property owners who have property insurance will be entitled to an additional $100,000 exemption on non-school property taxes. • HJR 211 by Rep. Overdorf eliminates the cap on portability, allowing homeowners to transfer their entire accumulated Save Our Homes benefit to a new home, even if that home has a lesser value. • HJR 213 by Rep. Griffitts limits the growth in assessed value of non school homestead property taxes to 3% over three years for homestead property (currently it is 3% per year) and 15% over three years for non homestead property (currently it is 10% per year). Additionally, HB 215 by Rep. Albert makes various statutory changes including requiring a two-thirds vote for

As we march toward the Jan. 13 start of the 2026 Regular Session, much debate is centered around property taxes. Many believe property taxes should be eliminated, under the theory you should not be renting your home from the government. Others believe property taxes can be reduced, and the loss of revenue offset by reducing waste and abuse in local governments. Property taxes are an annual ad valorem tax paid by owners of real property (and certain tangible personal property) to local governments. It is not transaction based or income based, but it is a tax based on the value of the taxed property. Local governments and school boards levy the tax. It is applied to the value of homestead and non-homestead property. The Florida House Select Committee on Property Taxes has shown how the amount of property taxes has steadily increased over the years. Also, over the last few elections, Floridians have voted for portability and increased exemptions for all homesteaded property or for certain groups, such as seniors or military families. While the Florida Legislature and Gov. DeSantis have been in public and private conversations about the issue, the House, through the members of its Select Committee on Property Taxes, has filed the first bills. The bills, except HB 215, are joint resolutions that must be passed by a supermajority of the Legislature and then go directly to the ballot, bypassing the Governor. Briefly, the joint resolutions are: • HJR 201 by Rep. Steele eliminates non-school homestead property taxes.

ANTHONY DIMARCO FBA EXECUTIVE VICE PRESIDENT AND DIRECTOR OF GOVERNMENT AFFAIRS “ elimination during the 2026 Regular

Will the two chambers agree on property tax reform or

Session, or will they return for a special session?”

Upcoming Event 52nd Annual Capitol Day + Capitol Night

Tallahassee, FL Learn more: floridabankers.com Jan. 28, 2026

10 | FLORIDA BANKING

whether these will be the Senate vehicles on property tax, or whether other legislation is yet to be filed in the Senate. Regardless, any piece of legislation passed by the House will go to the Senate for debate and its consideration. Ultimately, the two chambers will have to agree on any joint resolutions for the 2026 ballot. Many questions remain: Will the two chambers agree on property tax reform or elimination during the 2026 Regular Session, or will they return for a special session? Will Gov. DeSantis call his own special session if he is unsatisfied with the results of the 2026 Regular Session? Stay tuned.

any increase in the millage rate and allowing newly married couples to combine their accumulated Save Our Homes benefits. The Governor will decide whether it becomes law as it is an ordinary House bill. House Speaker Danny Perez has said this about the joint resolutions and bill: “First, they will have language that specifically prohibits an affected government entity from reducing funding for law enforcement. Second, they exempt school taxes. Property taxes comprise 46% of school funding, or about $21 billion.” As I write this article, Sen. Mack Bernard has filed several property tax bills that appear to be similar to the House legislation. It is unclear

President's Perspective, Continued from page 3 representing the strength of our membership • Use the equity to invest in our industry’s future As bankers, you know strong institutions are built the same way — people first, then infrastructure, then growth. We are following that philosophy as we position the association for the next decade of service. I look forward to sharing updates along the way and, even more importantly, delivering results you can see and feel as members. Together, we are building not just a stronger association, but a stronger future for banking in Florida.

WWW.FLORIDABANKERS.COM DECEMBER 25/JANUARY 26 | 11

Balancing Liquidity and Lending How Financial Ratios Shape Executive Benefit Strategy in Community Banks NFP EXECUTIVE BENEFITS, LLC

JOE SCHAEFER VICE PRESIDENT, ATLANTIC REGION, NFP EXECUTIVE BENEFITS, LLC “ 71% of banks say executive benefits remain important, but

report holding compensation steady due to economic uncertainty, while enhancing benefits that don’t strain liquidity. This recalibration has led to increased adoption of NQDCs, which offer flexibility, tax advantages and retention power. These plans are often designed to mirror the bank’s financial health, with vesting schedules and payout structures tied to performance metrics — including capital ratios, asset quality, and yes, liquidity. Structuring Plans for Compliance and Sustainability To ensure regulatory compliance and avoid adverse tax consequences, executive benefit plans must be structured in accordance with IRC §409A. This includes: • Clearly defined payment triggers (e.g., retirement, disability, change in control). • Prohibition of acceleration unless permitted under Treasury Regulation §1.409A-3(j)(4). • Proper documentation and operational consistency. Accounting for these plans typically follows ASC 710-10, which requires accrual of the present value of future benefits over the executive’s service period using the interest method. This ensures the liability is recognized in a manner consistent with Generally Accepted Accounting Principles (GAAP). Bolstering Succession Planning Non-qualified deferred compensation plans are often structured as an unfunded promise to pay, meaning the bank contractually commits to

In today’s banking environment, financial discipline is more than a regulatory expectation; it’s a strategic imperative. Two key metrics — loan-to deposit ratio and liquidity ratio — not only reflect a bank’s financial posture but increasingly influence how executive compensation plans are structured and financed. Bankers know loan-to-deposit ratio (LDR) measures how aggressively a bank is deploying its deposit base into loans. A high LDR may signal strong earnings potential, but it also reduces liquidity and increases exposure to credit risk. Conversely, the liquidity ratio gauges the bank’s ability to meet short-term obligations, reflecting its resilience in stress scenarios. When these ratios are tightened, either due to elevated lending or constrained liquidity, banks may shift their executive compensation strategy. Rather than increasing fixed salaries and bonuses, institutions lean into non-qualified deferred compensation plans (NQDCs). These plans allow banks to retain and reward key talent without immediate cash outlay, preserving liquidity while aligning incentives with long-term performance. Lending vs. Liquidity: A Strategic Tug-of-War

According to NFP’s 2025 Executive Benefits Trend Report,

must be balanced against financial constraints.”

Executive Benefits in a Disciplined Environment

According to NFP’s 2025 Executive Benefits Trend Report, 71% of banks say executive benefits remain important, but must be balanced against financial constraints. In fact, 52% of institutions

12 | FLORIDA BANKING

makes BOLI particularly attractive in environments where liquidity is tight, loan demand is high, and when market interest rates are volatile. Despite its liquidity constraints, regulators recognize BOLI as a prudent financing tool, provided it is backed by sound risk management and does not exceed 25% of Tier 1 capital as a reference. This guidance is outlined in the Interagency Statement on the Purchase and Risk Management of Life Insurance (OCC Bulletin 2004-56), which emphasizes the need for board oversight, pre purchase analysis and ongoing monitoring. Strategic Alignment Is Key As banks navigate the balance between lending and liquidity, executive benefit plans must evolve in tandem. By aligning compensation

strategy with financial metrics and leveraging BOLI to finance long-term obligations, community banks can retain top talent while preserving financial flexibility. In a world where every basis point matters, executive benefits are no longer just a reward — they’re a reflection of strategic discipline. Insurance services provided through NFP Executive Benefits, LLC. (NFP EB), a subsidiary of NFP Corp. (NFP). Doing business in California as NFP Executive Benefits & Insurance Agency, LLC. (License #OH86767). Securities offered through Kestra Investment Services, LLC, member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Kestra IS and Kestra AS are not affiliated with NFP or NFP EB. Investor Disclosures: www. kestrafinancial.com/disclosures

future benefit payments without setting aside dedicated assets. This structure allows the bank to selectively reward key individuals, such as a chosen successor, without triggering nondiscrimination rules or immediate funding requirements. From a succession planning perspective, this is a powerful tool. By offering a deferred benefit, the bank can retain a future leader who is prepared to step in when their predecessor retires. It ensures continuity and readiness at the executive level. However, because the plan is unfunded, the participant remains an unsecured general creditor of the bank. If the bank fails, the benefit may be lost, even while receiving benefit payments during retirement. This underscores the importance of leaving the bank in capable hands — someone who is not only ready to lead but also motivated to protect the institution’s long-term stability. Enter Bank-Owned Life Insurance (BOLI), a time-tested asset banks use to informally finance executive benefit liabilities and provide key person death benefit protection. While BOLI is technically illiquid, its tax-deferred growth and non-taxable death proceeds make it a powerful offset and cost-recovery to the rising cost of employee benefits. BOLI is carried at book value and earns interest that is recorded as non interest income. When structured properly, it can generate tax equivalent yields significantly higher than traditional investments, without being marked-to-market. This Financing Executive Benefits with BOLI

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WWW.FLORIDABANKERS.COM DECEMBER 25/JANUARY 26 | 13

Pressure Makes Diamonds How the FBEF Helped Me Reach My Dream Role FACES OF THE FOUNDATION

I highly recommend exploring the opportunities offered by the FBEF. Their scholarships provide vital financial support, enabling individuals to pursue their educational and career aspirations. In my junior year at FAU, all my classmates were applying for internships and programs they hoped would lead to corporate roles in Fortune 500 companies. I, like my classmates, applied for many internships. Unfortunately, I received multiple resounding-rejection emails. I did not take that as a sign to stop, though. As the semesters continued, and I was able to focus more time and effort on my studies instead of my tuition payments, I noticed my grades only got better. In my final semester, I reapplied for one particular opportunity, leveraging the feedback I received to become the strongest possible candidate. After an ordinary workday in November, I received an email that changed the trajectory of my career. I was offered the position I had worked so hard for, in an analyst program. I was euphoric! All those long nights studying, long drives home after work and after evening classes at FAU, all the hard work I put in, finally paid off. Graduating Cum Laude from FAU, I learned that “pressure makes diamonds,” and resilience is key to creating lasting success. Without the help of the FBEF, it wouldn’t have been possible. They say everything happens for a reason and I believe the day I read that issue of Florida Banking magazine was no coincidence. The FBEF is an amazing foundation that saw my value as an individual and saw my financial need preventing me from reaching my goals. I am forever grateful to them.

The journey to my dream role in a global investment bank is a testament to the power of perseverance. It wasn’t an easy road, but a rewarding one. It started in my junior year of pursuing my undergraduate degree at Florida Atlantic University (FAU). I was halfway through my bachelor’s in finance and felt the immense pressure of tuition payments weighing me down, making me consider part-time classes just to be able to afford each semester’s tuition. I felt as though if only I could put more focus into my studies versus my school payments, I could set myself up for a dream job at a Fortune 500 company by the time I graduated. At the time, I was working at a small community bank as a CSR, but my manager saw my potential and promoted me. As a deposit operations specialist, I took an interest in the Florida Banking magazine my CEO received, as there were always new articles on current industry trends and fraud prevention strategies. It was within those pages that I stumbled upon the FBEF scholarship opportunity, a beacon of hope during my senior year. With an expectation of getting another rejection email for yet another scholarship, I was pleasantly delighted to see that FBEF accepted my application for funding. All I needed was a glimmer of hope and FBEF was the silver lining. This was an opportunity I did not take lightly. I was truly struggling with the stress of upcoming school payments, paying rent, planning a wedding, working full-time and trying to keep up with my hectic schedule. It seemed as though all the stars aligned the moment I received my approval email. I took it as a sign that, yes, I was meant to be where I was, but also that there were more opportunities for me to discover. For prospective students and recent graduates considering a career in finance,

KATHERINE GUERRERO SENIOR YEAR FBEF

SCHOLARSHIP RECIPIENT “ For prospective students and recent graduates considering a

career in finance, I highly recommend exploring the opportunities offered by the FBEF.”

Reach Out! Working to advance your career through education? The FBEF can help! Learn more at FloridaBankers.com/FBEF or contact Letty Newton at (850) 701-3522 or lnewton@floridabankers.com .

Katherine Guerrero graduated in December 2024 from Florida Atlantic University with a bachelor of business administration degree in finance.

14 | FLORIDA BANKING

Celebrating Our FBEF Donors Join us in making an impact

“

The Florida Bankers Educational Foundation (FBEF) extends heartfelt thanks to our donors through Oct. 20, 2025, in support of the 2025-26 fiscal year.* Your generosity provides scholarships, fuels professional growth and builds a stronger future for our industry. Every gift advances our mission — and there’s always room to grow. If you haven’t contributed yet, we invite you to join this community of supporters.

Together, we’re investing in education, advancing careers and shaping the future of Florida banking.”

FirstBank Florida, Jose Maria Lacasa Flagship Bank, David B. Key Florida Bankers Association, Kathy Kraninger Florida Capital Bank, Keith Perry Grove Bank & Trust, Jose E. Cueto Gulf Coast Business Bank, Bill Blevins Gulfside Bank, Dennis B. Murphy Intercredit Bank, N.A., Mario Oliva Intracoastal Bank, Ryan Page

City National Bank of Florida, Jorge Gonzalez Colony Bank, Edward Canup Community Bank, Fred Leopold Community Bank of the South, William T. Taylor

Amerant Bank, N.A., Jerry Plush Anchor Bank, Nelson Hinojosa Anthem Bank, Rodger D. Shay, Jr. Axiom Bank, Ross Breunig Banesco USA, Calixto Garcia-Velez BankFlorida, James S. Stalnaker, Jr. Barwick Bank, James J. Bange Busey Bank, Sean Gallagher Caldwell Trust Company, Kelly Caldwell, Jr. Capital City Wealth, William L. Moor, Jr. Century Bank of Florida, Jose Vivero Citizens Bank & Trust, Greg Littleton BankUnited, Tom Cornish

Crews Bank & Trust, James W. Crews, Jr. Cypress Bank & Trust, Dana Kilborne EverBank, Greg Seibly First Horizon Bank, Mario Trueba First National Bank Coastal Community, Shaun E. Williams The First National Bank

Locality Bank, Keith Costello

Madison County Community Bank, Edward Meggs Mainstreet Community

of Mount Dora, Robert D. White First State Bank of the Florida Keys, Gary Carney

Bank of Florida, W. Ben Flowers

16 | FLORIDA BANKING