Florida Banking February 2023

THE MAGAZINE OF THE FLORIDA BANKERS ASSOCIATION WWW.FLORIDABANKERS.COM SEPTEMBER 2020 I T E FLORIDA BANKERS A SOCIATION W.FLORID BANKERS.COM FEBRUA Y 2 23

U.S. Century Bank A Journey of Resilience, Growth and Community

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 11 times annually with a combined issue in December/January. Subscription price is $50 per year for nonmembers. Postmaster, send address changes to Florida Bankers Association, P.O. Box 1360, Tallahassee, FL 32302. Copyright 2022 Alex Sanchez President and Chief Executive Officer

THE MAGAZINE OF THE FLORIDA BANKERS ASSOCIATION

VOLUME 38

NUMBER 1

FEBRUARY 2023

ON THE COVER 8 �� �� �� �� �� �� �� �� U.S. Century Bank: Resilience, Growth and Community CONTENTS 4 �� �� �� �� �� �� �� �� � Chair’s Message 6 �� �� �� �� �� �� Straight Talk from the President’s Desk 12 �� �� �� �� Government Relations: With Committee Assignments Set, FBA Prepares To Work On Your Behalf 16 �� � BancServ Endorsed Partner: Banks: Insuring Calm Before The Next Storm 18 �� � Florida Bankers Educational Foundation: Join Us For The FBEF Welcome Reception 19 �� �� �� �� �� �� �� FBEF Donors List 22 �� �� �� �� �� Personal Transactions 24 �� �� �� �� �� �� �� �� �� �� �� �� ��Kudos 29 �� �� �� �� �� �� FBA Staff Spotlight 30 �� �� �� �� �� �� �� Upcoming Events 31 �� �� �� �� �� �� �� �� Did You Know? 31 �� �� �� �� �� Advertising Directory

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Florida Bankers Association asanchez@floridabankers.com Pamela Ricco Executive Vice President and Chief Operating Officer Florida Bankers Association pricco@floridabankers.com Brooke Harrison Publications Director Florida Bankers Association bharrison@floridabankers.com

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Bill Penney Chair Jose Cueto Chair-Elect

Fab Brumley Immediate Past Chair

Greg Nelson Second Immediate Past Chair

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On the Cover: U.S. Century Bank - Resilience, Growth, and Community

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

U.S. Century Bank photos by Steven Martine, Steven Martine Photography (pgs. 3, 8, 11)

©istock.com: sanjeri; ipopba; monkeybusinessimages

CHAIR’S MESSAGE

HOW BANCSERV MAKES THE VENDOR SELECTION PROCESS EASIER

BY BILL PENNEY, FBA CHAIR

W hy did Steve Jobs wear the same outfit every day? He wanted to reduce “decision fatigue” in the morning when he got dressed. We’re faced with so many choices between the time we wake up and the time we go to bed, and our ability to make decisions diminishes over the course of the day. We often face decision fatigue when selecting vendors. It is a process that requires time and research in order to do our due diligence for the bank (and for our clients). There are many factors to consider — a vendor’s background, experience, price

variety of industries, including check and marketing services, property, casualty, cyber-security, Bond and D&O insurance services, EFT solutions, healthcare and professional lending, compliance solutions, investment products and services, security, HSAs, core-consulting, vendor management, office supplies and printing, and more. Member banks receive discounts and exclusive offers from Endorsed Partners. And when our banks choose an Endorsed Partner, the FBA receives a percentage and those dollars flow back into BancServ and the FBA’s efforts to serve members and advocate for our industry. In our business, relationships are everything. It is enormously helpful that the FBA — through BancServ — facilitates strong relationships with quality vendors. It’s like asking for a referral from a friend. We have the opportunity to meet vendors face-to-face at events and learn more about their products and services. BancServ’s mission is about finding best-in-class companies to make the vendor selection process easier for us bankers. The due diligence of the BancServ board of directors eliminates hours of research for your bank. If you're interested in learning more about one of our Endorsed Partners, visit floridabankers. com/endorsed-products-services.html. Reach out to Director of Partner Relations Brian Hickey at 850 701-3510 or bhickey@floridabankers.com for an introduction. Now, please excuse me while I choose between blue or gray pants and a white or blue shirt. Ah, decision fatigue!

tag, client satisfaction, etc. Sometimes, we know exactly what we’re looking for, and who to contact. But when we don’t know where to start, well, that’s when FBA’s wholly owned subsidiary BancServ, Inc. (BSI) can be a valuable resource. Through BancServ, the FBA endorses companies offering industry-leading products, services and solutions to help its members save time, effort and money. BancServ’s board of directors has already done the legwork

“BANCSERV’S MISSION IS ABOUT FINDING BEST-IN CLASS COMPANIES TO MAKE THE VENDOR-SELECTION PROCESS EASIER FOR US BANKERS.”

to vet these vendors, who go through a thorough application process to become Endorsed Partners. The BSI board of directors is made up of 12 C-level community bank executives who are heavily involved in the vendor selection or operations of their bank. Members of the board serve three, two-year terms. First Bank’s Carey Soud is BancServ’s current chair. BancServ will not endorse more than one company per product. Currently, BancServ has 18 Endorsed Partners who offer products and services across a

4 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

BANCSERV ENDORSED PARTNERS

Partner with Lively to deliver a best in-class HSA experience and unlock revenue growth for your bank. Adam Berry, (208) 724-03091 adam.berry@livelyme.com

Florida Bankers Health Consortium has been helping community banks manage their benefits for more than 50 years.

Bond, D & O, Cyber Insurance Patricia Williams, (800) 274-5222 pwilliams@abais.com

Angie O’Reilly, (407) 515-2462 aoreilly@selectsourceone.com

#1 source for medical & professional loans BHGLoanHub.com/FL Melissa Whelan, (315) 559-7641 melissa@bhg-inc.com

The only nationwide independent, member-owned debit network, processor & core provider supporting community banks. Alex Jerigan, (299) 861-3802 Jerigan@shazam.net

Bank Captive Insurance | Delaware & Nevada Investment Subsidiaries | Solar Tax Credits David Guerino, (802) 233-2624 dguerino@key-state.com

Web-based portal for professionally designed & produced bank branded marketing materials in seconds. Neal Reynolds, (678) 528-6688 nreynolds@bankmarketingcenter.com

STS Group is Florida’s strongest partner for bank security, ATMS & branch automation equipment. Adam Stephens, (256) 957-8018 adams@stsgrp.com

A full suite of investment products and services for community banks through its exclusively endorsed broker, Stifel.

J im Reber, (800) 422-6442 jreber@icbasecurities.com

Comprehensive and affordable payments solutions, including credit, debit, merchant, & digital commerce. Client Relations, (800) 242-4770 bancard@icba.org

Broad range of integrated payment, marketing, & technology solutions. Mariangie Navarro, (786) 521-1355 mariangie.navarro@harlandclarke.com

Executive Benefits & BOLI Glenn Blackwood, (561) 798-5620 glenn.blackwood@nfp.com Joe Schaefer, (786) 566-9423 joe.schaefer@nfp.com

Zurich provides best-in-class solutions to help reduce FBA member bank losses and manage risk more effectively.

Discounted supplies including PPE, cleaning, furniture, print & promo solutions. Kimberly Gilbert, (855) 337-6811 Ext. 12815 kimberly.gilbert@officedepot.com

A family of bank compliance services that include compliance alliance, review alliance, & virtual compliance officer. (833) 683-0701 info@bankersalliance.org

Stanley Bernard, (410) 559-2423 stanley.bernard@zurichna.com

Ncontracts' solutions suite encompasses the complete life cycle of risk. We help you build a better bank in a constantly changing environment.

Core & Digital Banking Evaluations | Contract Negotiations | Bank Advisors for 28 Years Keith Hagen, (850) 640-2244 keith.hagen@ici-consulting.com

Receive High-Yield CRA Credit David Lenoir david.lenoir@shcpfoundation.org

Corey Polom, (413) 374-5467 corey.polom@ncontracts.com

Created by the Florida Bankers Association, BancServ Inc., provides quality products and services at a discounted rate, saving Florida banks time & money. Brian Hickey, Managing Director of Partner Relations | bhickey@floridabankers.com

STRAIGHT TALK FROM THE PRESIDENT’S DESK

FTX FIASCO BECOMES CRYPTO CAUTIONARY TALE

BY ALEJANDRO “ALEX” SANCHEZ, FBA PRESIDENT AND CHIEF EXECUTIVE OFFICER

A re you tired of all the crypto talk? Some have bought and sold at the right time to become ultra-rich, while some have lost their shirts and other clothing in this process. Will crypto really ever compete with the good ol’ American dollar? It might, and we have to continue monitoring this industry. But FTX’s death spiral, which was prompted by a run on the exchange, and culminated with the company’s announcement of its chapter 11 bankruptcy filing and resignation of its CEO, has fueled the debate on the need for enhanced oversight. (Even my beloved Miami Heat were impacted by the bankruptcy filing of FTX and are now working on a new arena sponsor.) Crypto Exchange FTX expects more than one million creditors; it will be a mess. Congresswoman Maxine Waters (D-Calif.), the outgoing chair of the House Financial Services Committee, and Sen. Sherrod Brown (D-Ohio), chair of the Senate Banking Committee, joined Rep. Pat McHenry (R-N.C.), ranking member of the House panel and its likely future chair, in calling for more scrutiny on crypto markets. Congress has been slow in enacting the proper oversight for the crypto industry. I am tired of the chatter — enough time has passed (several sessions of Congress, to be exact), with no action. The time has come for Congress to enact the legislation needed to regulate that industry. I have always wondered, would the federal government really allow the transfer of millions of dollars via crypto? Would a wire of millions in crypto be allowed from Tallahassee to London to Islamabad? Would the government know who is receiving it? Yes, I have been told about the blockchain process that helps to identify the parties involved, but would that eliminate all BSA/AML concerns of the federal government? I doubt it. Protecting national security and implementing anti-crime measures should be

primary drivers of cryptocurrency policymaking and regulation. Some of the reasonable and common-sense ideas I have heard to regulate the crypto industry include: • Take a comprehensive and coordinated approach to regulat ion that resolves regulatory and legal debates about digital asset classification. • Ensure the crypto regime is comparable to banking system regulation. • Prevent bad actors from using cryptocurrencies for illicit activities. • Bring stablecoins within the regulatory perimeter. • Congress must act now and do the following: • Prevent the rise of a shadow banking system of unregulated platforms. Prioritize examiner training on digital assets. Reject special-purpose bank charters for crypto companies that do not fully meet the requirements of federally insured and supervised chartered banks. Examine the risks and unintended consequences associated with a proposed U.S. Central Bank Digital Currency (CBDC). We oppose a U.S. CBDC that would divert deposits from banks to the Federal Reserve. Harmonizing digital asset regulations will ensure consistent oversight of cryptocurrency service providers, establish clear guidelines for permissible bank activities, and avoid gaps to minimize the risk of regulatory arbitrage. Unregulated cryptocurrency would disintermediate banks — undermining their ability to support local customers and communities — while threatening consumer privacy and protections as well as financial stability. The FBA looks forward to continuing to work with members of Congress as this important debate continues.

6 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

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MARCH 22 , 2023

during the 2023 Legislative Session and spend a day at the Capitol discussing important banking and economic issues with Florida legislators. The day ends with Capitol Night - a dinner held at FBA headquarters. Capitol Night is a wonderful opportunity for bankers to network with elected of fi cials and their peers. during the 2023 Le islative Sessio a s e a day at the apitol discussing i portant banking and econo ic issues ith Florida legislators. The day ends ith Capitol ight - a dinner held at F A headquarters. Capitol ight is a onderful opportunity for bankers to net ork ith elected of fi cials and their peers.

Capitol Day: 12:00 - 4:30 pm Capitol ay: 12:00 - 4:30 p

Meet with Florida’s bankers on important banking issues Luncheon with a keynote speaker + Capitol Night: 5:00 - 9:00 pm Enjoy great seafood and networking at FBA Headquarters Meet with Florida’s bankers on i portant banking issues Luncheon with a keynote speaker + Capitol Night: 5:00 - 9:00 p Enjoy great seafood and networking at FBA Headquarters

For event details and to register, please visit www. fl oridabankers.com/CDCN For event details and to register, please visit . fl oridabankers.co /C C

SPONSORED BY: SPONSORED BY:

WWW. F LOR I DABANKER S . COM/CDCN . F LOR I DABANKER S . COM/CDCN

8 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

Resilience, Growth and Community U.S. Century Bank:

O n Nov. 23, 2021, the U.S. Century Bank management team rang the closing bell at the Nasdaq Stock Exchange, at Times Square, celebrating the bank’s hard-earned achievement of taking the bank public amid a global pandemic. The faces of their colleagues and friends at home in Miami appeared on the screen behind them to live stream the experience. This was not, in fact, the day that the bank’s stock was listed on the market; U.S. Century Bank officially went public several months earlier, in July, but the team was unable to visit New York at the time due to pandemic restrictions. Bank leadership conducted much of the process of its initial public offering virtually. On the day of the bank’s IPO, the team gathered in the boardroom to toast with mimosas and watch its stock go live on the Nasdaq with ticker symbol USCB. Both the experience of going public and then celebrating the bank’s 20 t h ann i ve r s a r y i n 2022 were particularly sweet for the Miami based community bank, which had labored under regulatory supervision several years prior. Though the bank experienced explosive growth when i t wa s f o u n d e d i n 2002, i t exper i enced losses stemming from plummeting real estate p r i c e s , d i m i n i s h i n g collateral values, and project foreclosures because of the 2008 banking crisis. The bank was recapitalized in 2015 and the new investor group brought on veteran banker Luis de la Aguilera as the president and CEO, signaling the beginning of a new era.

first 90 days to hire 29 members of his former team who chose to follow him. “It was a team that not only knew and trusted each other, but knew what to do, because we had done it before,”Aguilera said. “We got to work immediately; we had no time to waste.” In his first year as CEO, Aguilera focused on developing a strategic plan for returning the bank to profitability. The bank adopted a “branch light” model, consolidating its 18 banking centers, with the intention of better stewarding its resources while still providing high-touch service for its customers and community. Today, the bank has 10 banking centers and a commercial business office. Aguilera also led the team to identify and develop new business lines, which the bank calls “business verticals,” to diversify its loan portfolio. “I recognize that South Florida is a real estate

dominated economy and that commercial real estate will always be an important asset class,” Aguilera said. “However, we wi l l p r oa c t i v e l y manage risk and diversity through our new business verticals, which include association lending, global banking, SBA lending for entrepreneurs, and yacht financing.” “In 2016, we lifted the long-standing consent order and returned the bank to profitability. This created much energy,

“LAUNCHING A SUCCESSFUL IPO WAS AN IMPORTANT MILESTONE. IT REALLY VALIDATED THE EFFORTS OF THE TEAM.”

- LUIS DE LA AGUILERA

excitement and commitment. I think these ingredients, along with a sense of urgency, can ignite a company forward,” Aguilera said. “In a very short period of time, we quickly saw measurable results.” U.S. Century Bank, Continued on page 10

“While the financial crisis had hit the bank hard, we clearly saw the potential to rebuild,” Aguilera said. “I also understood how big the task ahead was; the bank had burned through its capital, lost key talent, and morale was low. It was going to be a huge challenge.” Aguilera’s priority was to quickly earn the trust of the board, investors and staff, and to build “buy-in” commitment and improve morale. In a twist of fate, Aguilera had the opportunity within his

The U.S. Century Bank headquarters in Doral.

WWW.FLORIDABANKERS.COM FEBRUARY 2023 — 9

U.S. Century Bank, Continued from page 9

“WE’RE VERY FOCUSED ON EVER IMPROVING OUR TECHNOLOGY.”

Since the recapitalization, the bank has grown more than 10 percent each year. With increasing momentum, diversification and profitability, the bank’s leadership began strategizing its IPO. Aguilera began searching for a CFO with proven “public bank” skillsets to achieve this goal. Rob Anderson was CFO of CapStar Financial Holdings in Tennessee; he had experience with national banks like Bank of America and Capital One, and more importantly, IPO experience. He had gained the respect of the market and proved “instrumental” in the bank’s IPO process. Anderson joined U.S. Century Bank in the fall of 2020, and the bank went public only nine months later in July of 2021. The bank has doubled in size since 2016, growing to $2.1 billion in assets. “Launching a successful IPO was an important milestone. It really validated the efforts of the team. We have entered a new phase; we have fresh capital and a liquid stock. Now that we are a public company, we have the optionality to do many different things strategically,” Aguilera said. “It has been over 18 months since the IPO, and we have delivered across the board on ever improving efficiency and profitability, as well as loan and deposit growth.We are a conservative bank and prize the safety and soundness of our operations,”Aguilera said.“We’ve accomplished what we told our investors we would do.” U.S. Century Bank is making the most of its added resources by investing in technology, an opportunity

- LUIS DE LA AGUILERA

the bank did not have during its years under regulatory scrutiny. Aguilera believes that technology is critical to a bank’s success. “We’re very focused on ever improving our technology,” Aguilera said. “Our investments and partnerships in fintech solutions have given us the ability to expand into Broward and Palm Beach counties without a physical presence because we can service our clients through these diversified digital channels.” Progress begets progress: U.S. Century Bank has a focus on safe, efficient and profitable growth. With gratitude for how far they have come, the U.S. Century Bank team is proud of the bank’s comeback story and excited for its future growth trajectory. “We are humbled, and very proud of our accomplishment. I give full credit to our board, management team and our incredible employees for their support, hard work, dedication to our customers, and commitment to the community,” Aguilera said.

The U.S. Century Bank management team.

10 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

LUIS DE LA AGUILERA

Luis de la Aguilera joined U.S. Century Bank in 2015 and was appointed as president and chief executive officer in 2016. Previously, he served as president, CEO and director of TotalBank. He began his banking career in 1982 at City National Bank of Miami and has held executive positions with leading South Florida banks, including Republic National Bank and later Ocean Bank. Aguilera is an active member and former board member of the Florida Bankers Association, a current instructor and former board member of the Florida School of Banking, and active board member of his alma mater, Christopher Columbus High School. Previously, he was appointed to represent Florida on the American Bankers Association Government Relations Council (2014-15) and later named to the board of directors. A committed advocate for pediatric cancer research, he was a founding board member of the SebastianStrong Foundation and served on the Miami-Dade Advisory Board of the American Cancer Society.

ROBERT ANDERSON

Rob Anderson has served as executive vice president and chief financial officer of U.S. Century Bank since 2020. Previously, Anderson served as chief financial officer and chief administrative officer of CapStar Financial Holdings (Nasdaq: CSTR). His earlier executive positions included serving as senior vice president, business operations executive at Bank of America, senior vice president, CFO of commercial banking at Capital One, and as senior vice president of finance at Bank of America. Anderson received a B.S.B.A. from The Ohio State University and an M.B.A. in finance from Pepperdine University. He is also a graduate of the University of Virginia Darden School of Business executive education series. Anderson is a Certified Public Accountant (inactive status).

BENIGNO PAZOS

Benigno Pazos joined U.S. Century Bank in 2016 as chief credit officer. With more than 30 years of banking experience as a lender/relationship manager and credit administration expert, he is responsible for the oversight and administration of the bank's credit activities, including establishing internal loan controls and written policies and procedures that ensure the quality of the portfolio. Previously, he served as chief credit officer at TotalBank with direct supervision over the Debt Restructuring Division, and as a member of the Board of Directors. He is an active member and former president of the Cuban American CPA Association, member of the Florida Institute of Certified Public Accountants, and member of the American Institute of Certified Public Accountants.

WWW.FLORIDABANKERS.COM FEBRUARY 2023 — 11

GOVERNMENT RELATIONS

WITH COMMITTEE ASSIGNMENTS SET, FBA PREPARES TO WORK ON YOUR BEHALF

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

A new year is upon us with a Florida inauguration. On Jan. 3, Gov. DeSantis, Attorney General Moody, and CFO Patronis were all sworn in for their second terms in their respective offices. New Agriculture Commissioner Wilton Simpson was sworn in to his first term. The Florida Cabinet is solidly Republican again for the first time in four years. Inauguration Day follows the swearing in of the new Florida Legislature. Senate President Passidomo and Speaker of the House Renner were officially voted on by their respective chamber members. The Florida Supreme Court also chose Justice Muñiz to be the Chief Justice. The leaders of the three branches of government are now in place for their respective terms. The work will begin. Additionally, the President and Speaker selected their Chairmen and committee members. Below is a list of the Chairmen and members of relevant committees we regularly deal with during the Session. Senate Banking & Insurance Chair – Senator Jim Boyd (R) Vice Chair – Senator Nick DiCeglie (R)

Sen. Dennis Baxley (R) Sen. Lauren Book (D) Sen. Jim Boyd (R)

Sen. Doug Broxson (R) Sen. Nick DiCeglie (R) Sen. Gayle Harrell (R) Sen. Linda Stewart (D) Sen. Geraldine Thompson (D) Sen. Jay Trumbull (R) Senate Finance & Tax Committee Chair – Senator Blaise Ingoglia (R) Vice Chair – Senator Ana Maria Rodriguez (R)

Sen. Ben Albritton (R) Sen. Lori Berman (D) Sen. Jim Boyd (R) Sen. Doug Broxson (R) Sen.Travis Hutson (R) Sen. Shevrin Jones (D) Sen. Debbie Mayfield (R)

Sen. Jason Pizzo (D) Sen. Victor Torres (D) House Commerce Committee Chair – Rep Bob Rommel (R) Vice Chair – Rep Patt Maney (R)

Sen. Doug Broxson (R) Sen. Danny Burgess (R) Sen. Colleen Burton (R) Sen. Travis Hutson (R) Sen. Blaise Ingoglia (R) Sen. Debbie Mayfield (R) Sen. Bobby Powell (D) Sen. Geraldine Thompson (D)

Rep. David Borrero (R) Rep. Allison Tant (D) Rep. Bruce Antone (D)

Rep. Kristen Arrington (D) Rep. Webster Barnaby (R) Rep. Christopher Benjamin (D) Rep. Kimberly Daniels (D) Rep. Wyman Duggan (R) Rep. Mike Giallombardo (R)

Sen. Victor Torres (D) Sen. Jay Trumbull (R) Senate Judiciary Committee

Chair – Senator Clay Yarborough (R) Vice Chair – Senator Colleen Burton (R) Sen. Ben Albritton (R)

Rep. Dotie Joseph (D) Rep. Chip LaMarca (R) Rep. Tom Leek (R)

12 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

Rep. Lauren Melo (R) Rep. Toby Overdorf (R) Rep. Joel Rudman (R)

Rep. Mike Beltran (R) Rep. Dean Black (R) Rep. Daryl Campbell (D) Rep. Kimberly Daniels (D) Rep. Ashley Gantt (D) Rep. Johanna Lopez (D) Rep. Randy Maggard (R) Rep. Patt Maney (R) Rep. Fiona McFarland (R) Rep. Kiyan Michael (R) Rep. Toby Overdorf (R)

Rep. Tyler Sirois (R) Rep. Kevin Steele (R) Rep. Chase Tramont (R) Rep. Brad Yeager (R) House Insurance & Banking Subcommittee Chair – Rep Wyman Duggan (R) Vice Chair – Rep Tom Fabricio (R) Rep. Christine Hunschofsky (D) Rep. Adam Anderson (R) Rep. Christopher Benjamin (D)

Rep. Alex Rizo (R) Rep. Rick Roth (R) Rep. Tyler Sirois (R) Rep. David Smith (R) House Ways & Means Subcommittee Chair – Rep. Stan McClain (R) Vice Chair – Rep. James Buchanan (R)

Rep. David Borrero (R) Rep. Adam Botana (R) Rep. Jennifer Canady (R) Rep. Gallop Franklin (D) Rep. Griff Griffitts (R) Rep. Rachel Plakon (R) Rep. Joel Rudman (R) Rep. Kevin Steele (R) Rep. Cyndi Stevenson (R) Rep. Allison Tant (D) Rep. John Temple (R) Rep. Chase Tramont (R) Rep. Marie Woodson (D) Rep. Randy Maggard (R) Rep. Mike Gottlieb (D) Rep. Thad Altman (R) Rep. Kristen Arrington (D) Rep. Webster Barnaby (R) Rep. LaVon Bracy Davis (D) Rep. Chuck Brannan (R) Rep. Kevin Chambliss (D) Rep. Tom Fabricio (R) Rep. Mike Giallombardo (R) Rep. Dee Hart (D) Rep. Yvonne Hinson (D) Rep. Berny Jacques (R) Rep. Tom Leek (R) Rep. Johanna Lopez (D)

Rep. Chip LaMarca (R) Rep. Anna Eskamani (D) Rep. Doug Bankson (R) Rep. Webster Barnaby (R) Rep. Kimberly Berfield (R) Rep. Daryl Campbell (D)

Rep. Mike Caruso (R) Rep. Joe Casello (D) Rep. Dan Daley (D) Rep. Wyman Duggan (R) Rep. Tom Fabricio (R) Rep. Juan Fernandez-Barquin (R) Rep. Dee Hart (D) Rep. Sam Killebrew (R) Rep. Michele Rayner-Goolsby (D)

House Judiciary Committee Chair – Rep Tommy Gregory (R) Vice Chair – Rep Toby Overdorf (R)

Rep. Spencer Roach (R) Rep. Will Robinson (R) Rep. Rick Roth (R) Rep. Tyler Sirois (R) Rep. David Smith (R) Rep. Allison Tant (D) Rep. Susan Valdes (D)

These are the committees in which the vast majority of our issues are heard. We look forward to working with the committee members as we work through the 2023 Session. We will keep you updated on the issues this Session.

Rep. Patt Maney (R) Rep. Bobby Payne (D) Rep. Will Robinson (R) Rep. John Snyder (R) Rep. Paula Stark (R)

Rep. Chase Tramont (R) Rep. Keith Truenow (R) House Civil Justice Committee

Chair Rep Will Robinson (R) Vice Chair Rep John Snyder (R) Rep. Kristen Arrington (D)

WWW.FLORIDABANKERS.COM FEBRUARY 2023 — 13

135 TH ANNUAL MEETING JUNE 11-14 | 2023 Join Us!

SCHEDULE AT-A-GLANCE

SUNDAY, JUNE 11

TUESDAY, JUNE 13

• Board Meetings* • Joint Board Dinner*

• General Session • Networking Lunch • Exhibitor Tear-down • Panel Discussion • BankPac Silent Auction

MONDAY, JUNE 12

• Golf Outing • Exhibitor Set-Up • Rap with the Regulators Panel

WEDNESDAY, JUNE 14

• Continental Breakfast • General Session • Workshops

• ABA & ICBA Panel • Welcome Reception • Past Chairman’s Dinner*

• Awards Luncheon • Keynote Speaker • Closing Reception • Closing Dinner & Entertainment

*By invitation or Board Members only More event details and registration information for the FBA Annual Meeting will be available online at www.floridabankers.com. Click on "Annual Meeting" under the "Events" tab.

14 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

Keynote Speaker MARIA BARTIROMO FINANCIAL JOURNALIST, TELEVISION PERSONALITY, NEWS ANCHOR AND AUTHOR WEDNESDAY, JUNE 14TH

www.FloridaBankers.com/AnnualMeeting Visit our website for the most current program information and event announcements:

NETWORKING & PROFESSIONAL DEVELOPMENT ENTERTAINMENT & FELLOWSHIP

REGISTER TODAY:

WWW.FLORIDABANKERS.COM FEBRUARY 2023 — 15

BANCSERV ENDORSED PARTNER: THE KEYSTATE COMPANIES

INSURING CALM BEFORE THE NEXT STORM NATURAL DISASTERS INCREASE COMMUNITY BANKERS’ INTEREST IN CAPTIVE INSURANCE COMPANIES

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BY DAVID GUERINO, THE KEYSTATE COMPANIES

A s Hurricane Ian ripped through the Caribbean, Florida and the Carolinas this past September causing billions of dollars in losses, community banks that formed captive insurance companies (captives) were able to fund for some of the uncovered losses. Now other banks are starting to evaluate how captives could help mitigate and manage some of the uninsured losses by their commercial carriers. What Is a Captive and How Can It Benefit Community Banks?

billion in assets are well-suited for KeyState’s Captive Management program. Launched in 2012, the program now encompasses more than 85 banks including 41 active Midwestern banks from Illinois and its neighboring states of Ohio, Indiana, Illinois, Michigan and Wisconsin. In light of its wide benefits and ease of use, KeyState expects the Captive Management program to grow by more than 10 percent in 2023. Captives and Climate Catastrophes According to the National Oceanic and Atmospheric Administration (NOAA), Hurricane Ian was the 15th billion-dollar weather disaster last year (to date), ranging from severe storms and tropical cyclones to floods and wildfires. “Total losses due to property and infrastructure damage is up to $29.3 billion in 2022 so far,” noted NOAA, but this does not yet include costs for Hurricane Ian, western wildfires and Hurricane Fiona, “which may push the 2022 total closer to $100 billion — a total reached in four of the last five years.” Severe weather events aren’t new, and neither are captives as a loss prevention solution. Ten years ago, in the wake of Hurricane Sandy in 2012, one of KeyState’s bank clients in New Jersey with coastal branches experienced significant changes to their named storm coverage. Their commercial carrier raised the per-branch deductible to $250,000. This was significant since at least five of their coastal city

“CAPTIVES CAN COVER INSURANCE DEDUCTIBLES AND EXCLUSIONS, AS WELL AS EMERGING RISKS SUCH AS INCREASING CLIMATE CATASTROPHES.”

A captive is a wholly owned subsidiary of a bank’s holding company operating as a licensed insurance company. The bank pays annual premiums to its captive for coverages not included in their regular commercial pol icies. A captive structure is not meant to replace a bank’s current commercial policies, but to strategically augment them. Cap t i v e s c an c ov e r i n s u r anc e deduc t i b l e s

and exclusions, as well as emerging risks such as increasing climate catastrophes. With enhanced risk management and a meaningful federal incentive, banks in The KeyState Companies’ program can reduce the annual “total cost of insurance” by 20 to 30 percent and increase their average annual EPS by 1 to 2 percent. Insurance premiums do not leave your bank’s economic family unless you have to pay claims. What Banks Can Form a Captive? S and C Corp banks with $750 million to $15

16 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

branches could potentially be impacted by another hurricane. The bank evaluated its options and ultimately decided to form a captive to help pre-fund for these potential losses. In addition to hurricanes, catastrophe insurance protects businesses against natural disasters such as earthquakes, floods, fires, tornados and hail, and against human-made disasters like riots or terrorist attacks. These are all situations for banks to consider captive coverages. Why is Now the Time for Community Banks to Evaluate Captives? The popularity of captives is seen in close to 95 new captive insurance company formations in the 10 largest U.S. domiciles. Taken together, there are some compelling reasons for banks to assess their current

coverage for M&A transactions, and legal expense coverage for class-action nuisance suits. • COVID claim rejections: Whi le many commercial carriers have denied COVID business interruption claims, KeyState’s Captive Management program has settled more than $4 million in COVID claims. David Guerino is senior vice president & managing director-captive insurance for The KeyState Companies, which manages tax advantaged investment and insurance structures for over 130 community banks across the country. He oversees KeyState’s Bank Captive Program, which has been endorsed by 27 state banking associations including the Florida Bankers Association.

needs and future scenarios where a captive could cover unfunded risks: • Commercial premium increases: Along with i nc r eas i ng cos t s for natural disasters, cyber coverage premiums are up 20 to 40 percent, while banker ’s profess ional liability and crime bond premiums have risen 10 to 30 percent. • Commercial coverage limits: Higher deductibles, b r o a d e r e x c l u s i on s , and sub-limits applied to cer tain coverages make captives a viable alternative. • Coverages not available

Client-driven solutions for community banks. We are seasoned community bankers, helping banks more efficiently manage risk and internal work processes for successful long-term strategic growth. We tailor our solutions to your unique business needs with a hands-on approach so you can focus more internal resources on revenue generation and enhancing shareholder value in an increasingly complex and competitive industry. • Credit administration + analyst support • Proactive compliance solutions • Turnkey operational + management support maccreditcomp.com Tammy McDowell, President + Founder O:(866)226-5234 | tmcdowell@maccreditcomp.com

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WWW.FLORIDABANKERS.COM FEBRUARY 2023 — 17

FLORIDA BANKERS EDUCATIONAL FOUNDATION

JOIN US FOR THE FBEF WELCOME RECEPTION

T he Florida Bankers Educational Foundation (FBEF) wants to welcome you to Tallahassee! Join us for the FBEF Welcome Reception the evening before Capitol Day + Capitol Night to fellowship and network with colleagues. Tickets are $80 and registrations must be received by noon on Friday, March 17. All proceeds from this event will benefit the Florida Bankers Educational Foundation’s programs for Florida bankers seeking to advance their careers through education. Please note that Capitol Day + Capitol Night registrations do not include the FBEF Welcome Reception. You must register separately for the FBEF Welcome Reception, which can be found on the calendar of upcoming events on www.FloridaBankers.com. Can’t attend? Show your support through a sponsorship! Thank you to our Wine Sponsor, Saltmarsh, Cleveland & Gund , our Name Badge Sponsor, 5iron , our Dessert Sponsor, Madison County Community Bank , our Napkin Sponsor, Wolf & Company, P.C. , and Friend of the Foundation ICI Consulting . We appreciate your support of the FBEF! Register today for the FBEF Welcome Reception and help support Florida’s future bankers who want to advance their careers through education. We hope you can join us!

FBEF WELCOME RECEPTION TUESDAY, MARCH 21 | 5:30 - 7:00 PM OVERUNDER BAR + LOUNGE Network with your fellow Capitol Day attendees for drinks and appetizers at OverUnder, just down the street from FBA headquarters and only about a mile from any of our event hotels. ​The FBEF is a 501(c)(3) non-profit corporation registered with the Florida Department of Agriculture & Consumer Services, Registration #CH7621. Contributions to the FBEF are tax-deductible. Organized in 1956, the FBEF continues to help bankers throughout Florida. If you are interested in making a tax-deductible contribution to the FBEF, contact Letty Newton at 850-701-3522, lnewton@ floridabankers.com, or PO Box 1360, Tallahassee, FL 32302-1360.

18 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

Z FLORIDA BANKERS EDUCATIONAL FOUNDATION (FBEF) DONORS CONTRIBUTIONS RECEIVED FOR THE 2022-2023 FISCAL YEAR THROUGH JANUARY 1, 2023 COMPANY AND CONTACT NAMES ARE LISTED AS THEY WERE AT TIME THE DONATION WAS MADE Thank you to all FBEF donors! Your annual contributions help support the FBEF's mission to help Florida bankers advance their careers through education. We appreciate your support of the FBEF.

Amerant Bank, N.A. Jerry Plush Anchor Bank Nelson Hinojosa Axiom Bank Ross Breunig Banesco

First Horizon Bank Mario Trueba First State Bank of the Florida Keys Karen M. Sharp 5iron Jason Bradley Flagship Bank Robert B. McGivney Florida Capital Bank Mark Johnson Florida School of Banking Class of 2022 Grove Bank & Trust Sheldon Anderson ICI Consulting Keith Hagen Intracoastal Bank Bruce E. Page Madison County Community Bank Edward Meggs Mainstreet Community Bank of Florida W. Ben Flowers Marine Bank & Trust Company William J. Penney MidWestOne Bank Michael Durkin One Florida Bank Frederick G. Pullum Popular Bank Israel Velasco Prime Meridian Bank Sammie D. Dixon, Jr. Professional Bank Abel Iglesias Raymond James Bank, N.A. Steven M. Raney Regions Financial Corporation Tony Stifler

Renasant Bank

Adam J. Lombardo Saltmarsh, Cleaveland & Gund Kristen Stogniew SmartBank Billy Carroll, Jr. SunSouth Bank Monty Weigel Sunstate Bank Lloyd DeVaux TCM Bank Damon J. Moorer The Bank of Tampa William O. West The First Ray H. Cole TIAA Bank Curt Cunkle Truist Bank Emily Weis Dawkins TrustCo Bank Eric Schreck Trustmark National Bank John D. Sumrall United Bank Mike Vincent United Community Banks, Inc. Lynn Harton U.S. Bank Sandra Fleming U.S. Century Bank Luis de la Aguilera Valley National Bank Joseph V. Chillura Winter Park National Bank David R. Dotherow L. Gary Wright & Associates, Inc Gary Wright

Calixto Garcia-Velez

BankFlorida James S. Stalnaker, Jr. Barwick Bank James J. Bange BMO Harris Bank Amy L. Hale Caldwell Trust Company Kelly Caldwell, Jr. Capital City Trust Company William L. Moor, Jr. Central Bank John M. Thompson Citizens Bank & Trust Greg Littleton Commerce National Bank & Trust Eric Ravndal Community Bank Fred Leopold Community Bank of the South William T. Taylor Crews Banking Corporation James W. Crews, Jr. Customers Bank Joseph Nowland Cypress Bank & Trust Dana Kilborne FirstBank Florida Jose Maria Lacasa First Foundation Bank Garrett Richter

The FBEF is a 501(c)(3) non-profit corporation registered with the Florida Department of Agriculture & Consumer Services, Registration #CH7621. Contributions to the FBEF are tax-deductible. Organized in 1956, the FBEF continues to help bankers throughout Florida. If you are interested in making a tax-deductible contribution to the FBEF, contact Letty Newton at 850-701-3522, lnewton@floridabankers.com, or PO Box 1360, Tallahassee, FL 32302-1360. A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE 800-435-7352 WITHIN THE STATE. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL OR RECOMMENDATION BY THE STATE. www.FloridaConsumerHelp.com

WWW.FLORIDABANKERS.COM FEBRUARY 2023 — 19

The HR & Wellness Conference combines the best of the FBA’s annual Human Resources Conference and SelectSource’s Wellness Meeting at an exciting and engaging venue. This timely educational program is designed specifically for Florida bank HR professionals. It will highlight a range of topics, from quiet quitting and the impact it may have on the workplace to retaining employees and ensuring your bank has developed a succession action plan.

Please plan to attend or send an HR employee from your bank to the 2023 HR & Wellness Conference, March 2-3, 2023, at The Florida Hotel in Orlando. To register, visit www.FloridaBankers.com. You may also contact Andrea Williams, FBA Professional Development Coordinator, at 850-701-3501 or by email at awilliams@floridabankers.com.

Thanks to our sponsors:

20 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

9 TH ANNUAL WOMEN IN LEADERSHIP CONFERENCE

APRIL 20-21 2023 ROSEN SHINGLE CREEK, ORLANDO

Join us for this conference designed to encourage, support, and inspire women to reach for leadership positions in their chosen industries.

SCHEDULE AT-A-GLANCE THURSDAY, APRIL 20 • Opening Keynote Address by Siomara Bridges:

Engaging in Emotional Intelligence While Leading Without Losing Your Femininity

• Breakout Sessions • Leadership Officer Discussion Panel • Networking Reception

FRIDAY, APRIL 20 • Yoga Stretch Class • Breakout Sessions • Closing Keynote Address by Debbie Peterson: Getting to Clarity on Your Banking Career

Learn more and register at www.FloridaBankers.com

PERSONAL TRANSACTIONS

NEW CEOS AND/OR PRESIDENTS FORT MYERS Sanibel Captiva Community Bank announced Kyle DeCicco was named

PROMOTIONS / NEW HIRES OCALA John Newell , vice president and commercial lender, joined Mainstreet Community Bank after 16 years

president and CEO, effective Jan. 1. DeCicco has been a member of the bank’s executive management team since January 2020 and was named president in January 2022.

with Citizens Bank of Florida where he was a senior credit analyst and commercial loan officer. Newell grew up in the Central Florida area and

DeCicco

Newell

graduated from UCF and the Graduate School of Banking at LSU. He believes in the values of community banking and what community banks stand for and chose to continue that path with his position at Mainstreet Community Bank. Outside of work, Newell spends his time following his daughter Gracie’s (16) volleyball teams. He also enjoys anything outdoors such as fishing and hunting.

In his new role, DeCicco oversees all management and operations, while continuing to lead the bank’s commercial lending division. This leadership change represents the first time in the bank’s 20-year history it will operate under a new chief executive. Bank founder Craig Albert has served as president and CEO since the bank opened in 2003. He will continue to be involved, acting as chairman of the Sanibel Captiva Community Bank Board of Directors. DeCicco’s transition to bank president and CEO is the final step in a leadership transition and succession plan the bank board of directors approved in 2021. DeCicco joined the bank in 2016 as vice president and commercial loan officer, focusing on commercial real estate lending and relationship development with local businesses and investors. In 2020 and 2021, he was instrumental in leading the bank’s efforts in administering the Small Business Administration Paycheck Protection Program. Under his direction after Hurricane Ian, the bank has already processed more than $30 million dollars in loans directly supporting recovery and rebuilding efforts. With more than 16 years of banking experience, DeCicco has worked in commercial real estate and lending, credit analysis, performing and nonperforming loan portfolio management, and management of FDIC insured loss-share assets. He is a recent graduate of the American Bankers Association Stonier Graduate School of Banking at the Wharton School of the University of Pennsylvania. He also graduated from the Florida Bankers Association – Florida School of Banking and holds a bachelor’s degree in business administration from Florida Atlantic University. As a Southwest Florida native, he is committed to supporting community organizations by serving as treasurer and board member of The Foundation for Lee County Public Schools and a member of the foundation’s Grant Selection Committee. He also serves on the Heights Elementary Student Advisory Committee and is a Captain-level Keel Club member of the United Way of Lee, Hendry and Glades Counties, among other volunteer efforts.

PANAMA CITY

Christy Coulthard has been named vice president of Community Bank’s Coast Region. A native of Panama City, Fla., Coulthard recently served as assistant vice president and has been in banking for 35 years. In her new role, she will continue to grow

Coulthard

her loan portfolio by seeking new residential and commercial loans while leading and managing the Panama City Beach office. Coulthard is a graduate of Gulf Coast Community College. Active in her community, she serves Panama City Beach Chamber as an ambassador and is a member of Bay Business Association Industry and Women Professional Bay Business Association.

ST. PETERSBURG

BayFirst National Bank has promoted Anthony Perez to senior vice president and Tampa market executive as part of the bank’s effort to enhance its community banking division strategy. Perez is a 20-year banking industry veteran who joined

Perez

BayFirst in 2020, most recently serving as vice president commercial lending officer. In his new role, he will be responsible for driving loan and deposit growth in Tampa, which will soon be home to two BayFirst banking centers, one currently operating at 3015 West Columbus Drive, and one slated to open this month in the Carrollwood area on North Dale Mabry Highway. As part of the divisional reorganization, Perez will report directly to BayFirst President Tom Zernick.

22 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

PERSONAL TRANSACTIONS

TAMPA

industry as a consultant to large corporations and government agencies. Peacock earned his Bachelor of Science degree in Business Economics from the University of Louisville, where he graduated summa cum laude. He has also completed the Florida Bankers Association Graduate Trust and Wealth Management School program, earning academic honors. Peacock holds the Chartered Financial Analyst (CFA) designation, is a member of the CFA Institute, and is a past president of the CFA Society Tampa Bay. Peacock also holds the Chartered Alternative Investment Analyst (CAIA) designation. Originally from Louisville, Ky., Peacock has lived in Sarasota since 2016 and enjoys golf and fishing in his free time.

TD Bank has named Mercedes Taylor as retail market manager for the Tampa Bay region. Taylor has spent the last 15 years of her banking career

in Tampa Bay, and most recently served as the store manager of the TD Clearwater location. Taylor is an active community advocate, including her volunteer work with PACE in Hillsborough County, which provides young women an opportunity for a better future through education, counseling, training and advocacy. As a member of the Dunedin Chamber, she is on the planning committee of the Black Heritage Festival. Caldwell Trust Company has hired Kendall Peacock, CFA, CAIA , as vice president and senior portfolio manager. Based in Caldwell’s Downtown Sarasota office, Peacock brings a deep knowledge of comprehensive wealth management and investment advisory services for families, private trusts, businesses and charitable organizations. Before joining Caldwell, Peacock spent 15 years as a portfolio manager for Northern Trust and SunTrust. Prior to that, he spent several years in the technology Taylor Peacock VENICE

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WWW.FLORIDABANKERS.COM FEBRUARY 2023 — 23

KUDOS

ICBA Foundation Receives Pledges of More Than $200,000 for Community Banks and Employees Affected by Hurricane Ian

U nder CEO Geoff Roepstorff and President Robbie Roepstorff, Bank of the Islands/Edison National Bank has taken a leadership role in supporting the #SanCapStrong campaign initiated by the Sanibel & Captiva Islands Chamber of Commerce to aid in recovery following Hurricane Ian’s fury on Sept. 28, 2022. The bank’s engagement included underwriting the printing cost of the SanCap Strong shirts and then placing the first order for 15 shirts. Instead of the $50 per long-sleeved shirt price, the bank pitched in $1,000 for each shirt it ordered for its staff members, T he Independent Community Bankers of America (ICBA) Foundation announced that the disaster relief program, activated in coordination with ICBA-affiliated Florida Bankers Association (FBA), has more than $200,000 pledged to assist employees and families of Florida’s community banks affected by Hurricane Ian. “With Hurricane Ian creating significant destruction of property and tragic loss of life, I am so grateful for the outpouring of support from our community banking family during these challenging times,” ICBA President and CEO Rebeca Romero Rainey said. “ICBA members from around the country generously participated, demonstrating, once again, their roles as financial first responders in times of need.” In addition to the support of community bankers, ICBA matched the first $50,000 raised to help donations go further in supporting relief. Funds will be distributed via the FBA to those community banks and bankers who may need assistance with hurricane related expenses. “We are grateful for the partnership with ICBA and the response from our community bank colleagues across the country,” FBA President and CEO Alex Sanchez said. “This display of support from our community banking family across the nation will have a significant impact on our ability to recover and rebuild after Hurricane Ian.” The FBA has received many messages of gratitude from impacted bankers for whom the funds made a difference as they recover and rebuild.

“Thank you for the check due to Hurricane Ian’s damage! You have no idea how much this means to me and my family. We had no idea what the damage would add up to. Thank you again,” said Chris and Ernie Scheidemann, FineMark National Bank &Trust. The ICBA Foundation Disaster Relief Program supports ICBA-affiliated state associations, ICBA Federal Delegates, and — in states where neither are present — ICBA leadership bankers in fundraising when areas of their state have been affected by presidentially declared or state governor-declared disasters. In coordination with the affiliated state association and ICBA Federal Delegate or other ICBA leadership banker in the state, funds are collected and disbursed for the express purpose of assisting affected community banks and community bank employees. The ICBA Foundation does not use any of the funds collected to pay the costs of administering this program.

FBA President and CEO Alex Sanchez tours the areas impacted by Hurricane Ian in Southwest Florida.

Bank of the Islands Underwrites San-Cap Chamber Post-Ian Shirt Campaign

for a total of an added $15,000. “Robbie and I have called Sanibel home for most of our lives,” said Geoff Roepstorff. “Our dreams came true decades ago when we opened the Sanibel and Captiva offices of Bank of the Islands. Since then, it has been very clear to us how crucial the Chamber is to our community. Like the Sanibel Lighthouse, the Chamber is a source of light for our islands. And now, with so many Chamber members stricken by Ian, the Chamber revenues have seen a serious decline. For those who can, it is time to support our Chamber by giving what you can as soon as you can. We hope others will join

24 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING