Florida Banking February 2024

THE MAGAZINE OF THE FLORIDA BANKERS ASSOCIATION WWW.FLORIDABANKERS.COM SEPTEMBER 2020 Popular Bank: Putting People at the Center of Progress THE MAGAZIINE OF TTHEEFFLLOORRIDIDAABBAANNKKERESRSASASOSOCICAITAITOIONN WWW.FLORIDABANKERS.COM SEPTEMBER 2020 WWW.FLORIDABANKERS.COM FEBRUARY 2024

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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 2024 Kathy Kraninger President and Chief Executive Officer Florida Bankers Association kkraninger@floridabankers.com Pamela Ricco Executive Vice President and Chief Operating Officer A

THE MAGAZINE OF THE FLORIDA BANKERS ASSOCIATION

VOLUME 39

NUMBER 1 FEBRUARY 2024

ON THE COVER 8 - - - - - - - - - - - Popular Bank: Putting People at the Center of Progress CONTENTS 4 - - - -Chair's Message: Invest in Your Education This Year 6 - - - - - President's Perspective: Opening a New Era with Renewed Focus on Members, Partners 12 - - - - Government Relations: ESG 2.0 – Doubling Down on Last Session’s HB 3 14 - - - - - - - Trust and Wealth Management: 2024 Legislative Update for FBA’s Trust Division 16 - - - - - - - Trust and Wealth Management Mini Feature: Truist Wealth: Let our caring advisors be your guides 18 - -BancServ Endorsed Partner: It's Time to Have Some Tough Conversations About Core 20 - - FBA's Dianne Pagel Retires 22 - - - - - Personal Transactions 26 - - - - - - - - - - - - - Kudos 30 - - - - - - - Upcoming Events 31 - - - - - Advertising Directory 31 - - - - - - - - Did You Know?

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Florida Bankers Association pricco@floridabankers.com

Brooke Harrison Publications Director Florida Bankers Association bharrison@floridabankers.com

4

6

Jose Cueto Chair

Derek Jones Chair-Elect

Bill Penney Immediate Past Chair

Fab Brumley Second Immediate Past Chair

28

On the Cover: Popular Bank President Israel Velasco.

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

Photos by Benjamin Rusnak Photography

CHAIR’S MESSAGE

INVEST IN YOUR EDUCATION THIS YEAR

BY JOSE CUETO, FBA CHAIR

I t’s a new year, and each of us has goals for growth and professional development. I encourage you to make the most of FBA’s educational opportunities this year. Our industry is constantly evolving, and we need to stay up-to-date in order to provide the best service to our customers. The FBA offers a variety of online and in-person seminars, workshops and conferences — many of which offer Continuing Education credits — to ensure bank employees understand the business of banking.

The Florida Trust & Wealth Management School — July 21-26, Orlando The FBA’s schools shape our students and graduates to become leaders in our industry. The Florida Trust & Wealth Management School is designed to give students a well-rounded and practical understanding of the establishment, structure, purpose and general activities of a typical trust and wealth management department. The Florida School of Banking — August 4-10, Gainesville

Take the time now to look at the FBA’s schedule of educational events and mark your calendar. Let me point to some notable programs: 10th Annual Women April 18-19, Orlando This event is designed to encourage, support and inspire women to continue their growth in management and leadership positions. It’s a great opportunity to network with attendees and speakers, including successful in Leadership Conference —

IT IS TRULY IMPORTANT THAT

This program gives bank personnel at the supervisory and officer level the opportunity to learn more about the banking industry and the economy. Students receive a stellar education from experienced banking professionals and also benefit from the friendships they form with peers over the course of their three year schedule. It is truly important that we equip the next generation

WE EQUIP THE NEXT GENERATION WITH THE TOOLS AND TRAINING THAT THEY NEED TO SUCCEED AND LEAD OUR INDUSTRY FORWARD.

with the tools and training they need to succeed and lead our industry forward. If you are a leader within your organization, invest in your team by sending them to one or more of the FBA’s educational programs. Don’t allow a limited budget to be a deterrent. The FBA offers scholarships and tuition assistance through the Florida Bankers Educational Foundation (FBEF). To learn more about the FBA’s educational programs or the FBEF’s financial aid, visit the website at floridabankers.com/FBEF.

female executives from Florida’s financial institutions and affiliated professional groups. This conference receives excellent feedback each year. Don’t miss it! 2nd Annual Operations & Technology Forum — May 13-14, Orlando Join other forward-thinking operations and technology professionals for two days of networking and targeted training focused on meeting the challenges of the day. This timely event will cover topics like security, risk management and technological advancement.

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PRESIDENT'S PERSPECTIVE

OPENING A NEW ERA WITH RENEWED FOCUS ON MEMBERS, PARTNERS

BY KATHY KRANINGER, FBA PRESIDENT AND CEO

D ear Esteemed Members and Partners, With great enthusiasm and humility, I draft my first Florida Banking magazine message as your new CEO at the start of this new year. It is a new day in Tallahassee! For me, change is exciting, full of promise and opportunity with a twinge of fear. I hope that all of you are excited for FBA’s future and what we can accomplish together through this transition and beyond! While change is inevitable, our foremost priority remains constant — to serve you, our valued members. Over the past several months, you have shared that you rely on the FBA for advocacy, networking, education and services, with Florida-based advocacy as the primary driver and Washington, D.C. as a second. Florida Legislative Session Given that top billing, I’ll start with the current Florida legislative session where the FBA team is immersed in the action! As of Day Two, our top priorities this session are: • Countering Chair Rommel’s ESG 2.0 Access to Financial Institution Customer Accounts; • Promoting a legislative solution for IOTA interest rates; • Fighting expansion of credit unions into taking public deposits; and • Working through a bill that affects directors on bank boards. Hundreds of bills have been filed, dozens have impacts and potential impacts on banks and trusts, and certain pieces of moving legislation can become vehicles for other items that become top priority issues. Definitely watch for Calls to Action and Capitol Insights so you can engage as needed — your participation makes the difference! As the film character Jerry McGuire famously said, “Help me help you.” Your engagement is essential to our collective

success — whether it is to guide our efforts on your behalf or to participate in advocacy and attend events. Key Events Ahead Of course, we are also staying abreast of activity in Washington, D.C., where the burden of uncoordinated, overly complex regulatory changes continues to grow. In terms of events for your calendar: Last chance to join Congressman Byron Donalds in Naples on February 12; Meet FED Governor Michelle Bowman in Miami on February 27 and in Tampa on the 28th; The 68th Annual DC Fly-In is March 18-20 with a fantastic line-up planned! New to the agenda — a Florida House reception for the Florida Delegation. FBA Chair Jose Cueto will be highlighting our education programs ahead, though I will note the Consumer Compliance Conference in Orlando March 26-28 , where I’ll be speaking. We will be adding some local banker visits and events to that week. Stay tuned! Communications Speaking of staying tuned, you should notice some changes in our communication channels and cadence. We are releasing short, timely videos; removing those who decline an event from event emails; and looking to create more tailored communications. This is a significant focus for the association — getting you the timely information you need in the way you want to receive it. That is a tall order in these times of information overload, but you have my commitment to continued improvement. Strategic Plan And, of course, communication must be driven by our mission and strategy. To best position us for the future and take advantage of the transition, the FBA has launched a strategic planning effort. Before I hear

6 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

any groans, this is not going to be a paper tiger — we will use it to drive what we do going forward! Together, we will validate our mission and vision; establish values; set priorities; and develop a strategy to meet the changing times and your needs. Above all else, the FBA team wants to hear your feedback, concerns, and accolades great and small. They are necessary to serve you better — whether it is in refining policy positions, shaping the strategy, or having subscription categories for email communications. I pledge to you that we are taking steps to improve and to support you consistent with that feedback. So keep it coming! I look forward to seeing you around the Sunshine State and in D.C. in March! ̩̫̮

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WWW.FLORIDABANKERS.COM FEBRUARY 2024 — 7

Putting People at the Center of Progress Popular Bank:

8 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

E very year on October 5th, Popular Bank employees wear yellow as a tradition to celebrate the company’s anniversary. The color symbolizes prosperity and reminds the team of its rich history and success. The bank was founded in Puerto Rico in 1893 and has been operating on the mainland since 1961. Today, Popular Bank is one of the 50 largest U.S. banks by assets with 40 branches in the United States. The bank recently celebrated

an industry leader in providing financial products and services to condominiums, homeowners associations and other planned communities, with an active lending platform in 28 states. Since its acquisition of Kislak National Bank, Popular Bank has grown organically to nearly a $4 billion franchise in South Florida. “When Popular Bank announced the acquisition of Kislak, I picked up the phone and said, ‘Listen, I want to throw my name in the hat.’ The culture at Popular

130 years of service this past October; leadership wants the bank to be around for 130 more. “The banking industry is changing, and it’s important to evolve. An established brand does not guarantee longevity or customer loyalty,” said Florida Region Executive Israel Velasco. “Two years ago, we kicked off our enterprise-wide transformation that will help position Popular Bank for sustainable growth in the future. We are already seeing the results of our investments in technology that make us more agile, efficient and customer-centric.” According to Velasco, it has been more than 50 years since the bank reevaluated its purpose

Bank matched my values,” Velasco said. “I’ll never forget the words of the chairman in my very last interview. He put his arm around my shoulders and said, ‘Israel, I want this to be the last bank you ever work for. I want you to be a part of our family.’ I share that story with everyone I interview, because that’s what I want for my employees, too. I want to make this the kind of place they feel they can work at for the rest of their lives.” When the bank outgrew its original headquarters, they designed and built a brand-new, state-of-the art space next door, again, with people in mind. The bank moved into the new Miami Lakes building in December 2022. The new

“TODAY, WE CONTINUE TO BE A TRUSTED FINANCIAL INSTITUTION THAT PUTS PEOPLE AT THE CENTER OF PROGRESS, WHICH MEANS PUTTING OUR EMPLOYEES, CUSTOMERS AND COMMUNITIES AT THE HEART OF EVERYTHING WE DO.”

- ISRAEL VELASCO

and culture framework, and it was time for a refresh. “Putting people at the center of progress” is the bank’s newly revised purpose statement, unveiled during the 130th anniversary celebration on October 5, 2023. The bank organized focus groups to interview customers, employees, and shareholders; “people” and “progress” were the recurring themes of those discussions. “One of our key founding values was to always remain human and help empower the economic development of our communities — through innovation, customer service and depth of knowledge. Today, we continue to be a trusted financial institution that puts people at the center of progress, which means putting our employees, customers and communities at the heart of everything we do,” Velasco said. “Whether we’re designing a product, closing a loan, or opening an account — it’s always with the mindset, ‘how can we make this easier for our employees, customers, and the community?’” Velasco joined Popular Bank in 2005 around the time it acquired Kislak National Bank, a small community bank in South Florida. Leadership was attracted to Kislak National Bank for its niche association banking business. Today, Popular Association Banking (PAB) is

building fosters the company’s familial, collaborative culture; amenities include covered parking, electric charging stations, a gym, two cafes, and open, collaborative spaces. The outdoor terrace is the go-to spot for internal company events like the annual holiday party.

Popular Bank, Continued on page 10

WWW.FLORIDABANKERS.COM FEBRUARY 2024 — 9

The Popular Bank expanded senior management team.

In August 2023, Popular Bank hosted a Bowl-A Thon to fundraise for Junior Achievement of Greater Miami, a nonprofit that prepares young people for success. Velasco himself is currently a professional bowler, but enjoys the sport more as a hobby these days. For the Bowl-A-Thon event, Popular Bank claimed almost all 60 lanes of the bowling center.

Popular Bank, Continued from page 9

“The project was a ‘build to suit.’ Now we have one and a half floors of contiguous space,” Velasco said. “People want to be here because they love the environment that we’ve worked so hard to create. The South Florida community knows what a great team of bankers we have here. Our success attracts people

to come work for Popular.” Popular Bank has a strong reputation in the community for its service and generosity. Bank employees are given dedicated time off for community service, and the bank partners with local nonprofit organizations like Junior Achievement of Greater Miami, Cristo Rey

The Bowl-A-Thon raised a record $80,000. “Our employees have a great time. And we’re raising money for a great cause,” Velasco said. Looking ahead, the bank has plans to continue strategically expanding in South Florida to serve

“COMMUNITY INVOLVEMENT IS A BIG PART OF OUR DNA.”

- ISRAEL VELASCO

High School, Chapman Partnership, and the Center for Financial Training International, just to name a few. “Community involvement is a big part of our DNA. Employees not only volunteer but also contribute to the Popular Bank Foundation which supports local community organizations through grants,” Velasco said. The bank matches $2 for every dollar that employees contribute. Bank employees serve on a committee to review and approve the grant applications.

customers in Miami-Dade, Broward and Palm Beach counties. Popular Bank’s enterprise-wide transformation will be an ongoing process; it is the lens through which the team makes decisions about tech, product and process improvements. “There’s been a lot of change in the banking landscape. Popular Bank has been a mainstay; our customers know that they can count on us,” Velasco said. “And I believe that has been the reason we’ve grown as we have.”

10 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

Israel Velasco currently serves as Florida region executive for Popular Bank, overseeing operations and financial performance for all lines of business. With nearly four decades of banking industry experience, Velasco has been with Popular since 2005. Under his leadership, the region has grown into a $4 billion bank, currently serving South Florida customers through a network of 12 branches. Velasco is a long-time supporter of several non-profit and community organizations, encouraging Popular Bank teams to engage in regular volunteer activities. He is a lifelong honorary member of the Board of Directors for the South Florida March of Dimes chapter. He has served as chairman and currently serves as vice chairman of the Board of Directors for Junior Achievement of Greater Miami. He also serves on the Board of Directors for the Florida Bankers Association and is a member of the Florida International University President’s Council. Velasco holds a Bachelor’s degree from Florida International University and a Master’s degree from the University of Miami. MEET ISRAEL VELASCO, FLORIDA REGION EXECUTIVE

The Popular Bank Florida Region senior management team, from left to right: Carlos Hernandez, Molly Hime, Andres Cabrero, Israel Velasco, Jorge Morera, and Christian Bertot.

WWW.FLORIDABANKERS.COM FEBRUARY 2024 — 11

GOVERNMENT RELATIONS

ESG 2.0 – DOUBLING DOWN ON LAST SESSION’S HB 3 BY ANTHONY DIMARCO, FBA EXECUTIVE VICE PRESIDENT AND DIRECTOR OF GOVERNMENT AFFAIRS

A s you are all aware, the Florida Legislature enacted HB 3 to fight perceived “wokeness” in Florida financial institutions. The law creates a new “unsafe and unsound banking practice” for all Florida chartered or licensed financial institutions and any bank that is a qualified public depository (QPD) or to any Florida state-chartered bank or credit union. The bill, while recognizing the need for financial institutions to provide or deny banking services based upon an analysis of risk factors unique to each individual customer, provides that it is deemed an unsafe and unsound banking practice to discriminate against a person based upon the following: • Their political opinions, speech, or affiliations; • Their religious beliefs, exercise, or affiliations; • Any factor that is not a quantitative, impartial, and risk-based standard; • Any factor that includes the person’s business sector, e.g., fossil fuels or gun manufacturing; or, • Any rating, scoring, analysis or the like based on a “social credit score.” The law took effect on July 1, 2023 and required financial institutions to attest, under penalty of perjury, that they are in compliance with the new law. All banks and QPDs filed the required attestations in a timely manner. This new law is not quite six months old, and, so far, we are not aware of any violations or complaints. However, this does not appear to be enough for some legislators and they have doubled down on legislation to fight wokeness by filing HB 585 entitled “Access to Financial Institution Customer Accounts.” The bill’s sponsor believes that one debanked customer is one too many. This new bill amends the Florida banking codes to require a bank to file a termination of access report (report) with the Office of Financial Regulation (OFR) when a bank customer or credit union member’s

account access is terminated, suspended, or a similar action is taken, unless the customer initiates the account change or the account is dormant. After filing the report, OFR has 90 days to investigate and determine whether the action “was taken in bad faith as substantiated by competent and substantial evidence that was known or should have been known to the financial institution at the time” of the action. “Bad faith” is not defined in the bill. If OFR makes a bad faith determination, then it has 30 days to report this finding to the Attorney General and the Chief Financial Officer, send the report to the customer, and send the report to any other banking regulator or law enforcement pursuant to any other applicable law. The financial institution’s wrongful termination or failure to send the report in a timely fashion constitutes a violation of the Florida Banking Code and the financial institution is subject to applicable sanctions and penalties therein. The customer then has a private right of action against the bank if OFR determines that the financial institution acted in bad faith. There is a 12-month statute of limitations, and the customer must prove the bad faith beyond a reasonable doubt. Should the bank be a QPD, it must still file a report, regardless of charter, and if found to have acted in bad faith, then it is subject to the violations and sanctions of the QPD statutes. The FBA is OPPOSED to this bill. We believe it to be unconstitutional and preempted by federal law. We also believe that it is an unwarranted and costly intrusion into the free market system. Moreover, the current law of HB 3 has several mechanisms to permit an aggrieved customer to file a complaint against a bank. Finally, there is no definition of “bad faith” and other similar problems with the bill. Please watch for a call to action on this bill.

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TRUST AND WEALTH MANAGEMENT

BY KENNETH PRATT, FBA SENIOR VICE PRESIDENT OF GOVERNMENT AFFAIRS 2024 LEGISLATIVE UPDATE FOR FBA’S TRUST DIVISION

E very year, the FBA’s Trust and Wealth Management Division reviews and/or proposes new legislation that shapes the laws as they pertain to the trust and wealth management industry. There are mainly two bills under current consideration by the Florida Legislature that will have an impact if passed during the 2024 Legislative Session. This article will flesh out some of the history and the perceived need for these

and even adding several new terms in the definitions section to modernize the act to address some of the more recent industry trends regarding trust and estate administration. Additionally, the updated act takes aim at the unlimited “lookback rule” which presented difficulties for fiduciaries in their administration efforts. By placing into Florida law a defined lookback period of three years, if passed, trustees will have a

bright line rule to rely on. This would dictate how far back in the life of the trust or estate a trustee must go in their calculations. This issue was one of several important updates offered to the Bar committee by FBA members. The approach of the drafters was to, as much as possible, maintain the language and concepts of the uniform law, as promulgated by the Uniform Law Commission. Amendments or changes were limited unless the stakeholders agreed that there was sufficient rationale for the committee to deviate from the

two legislative items. SB 1316 and HB 1093 — Uniform Fiduciary Income and Principal Act (UFPIA) The legislation is the product of a special subcommittee of lawyers associated with the Real Property Probate and Trust Law Section of the Florida Bar. Florida’s UFPIA was first adopted by Florida’s Legislature over 20 years ago. According to Florida Bar experts, if Florida were to adopt these changes in 2024, we would be just the eighth state in the nation to update these rules.

“THERE ARE MAINLY TWO BILLS UNDER CURRENT CONSIDERATION BY THE FLORIDA LEGISLATURE THAT WILL HAVE AN IMPACT IF PASSED DURING THE 2024 LEGISLATIVE SESSION.”

uniform law’s recommendations. The FBA’s Trust and Wealth Management Division has voted to support passage of this legislation. SB 1064 and HB 923 – Wills and Estates Probate Documents This proposal amends section 28.223, Florida Statutes, with the intent of maintaining necessary

This section of Florida law addresses the complex rules of how personal representatives who administer estates and trustees who administer trusts go about allocating receipts and disbursements to income and principal. The overall goal of this act is to ensure testator intent is realized regarding the distribution of assets to trust beneficiaries, heirs and devisees. The proposed law takes aim at clarifying, expanding

14 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

affirmative duty to search or find if any property held by a decedent or that decedent’s surviving spouse is subject to the act at the time of the decedent’s death. Under this provision, administrators of the trust are responsible for notifying creditors when they file the Notice of Administration and Notice to Creditors. Once creditors are put on notice, they can decide if they want to investigate if the property is subject to the act. In addition, the new proposed law creates a 2-year statute of repose and a dispute resolution system, allowing for a creditor to challenge claims related to title disputes of properties that are subject to the act. With the thousands of retired persons and other-state citizens moving to Florida every year, this provides an important level of security to testators to know that their testamentary wishes regarding their property will be honored by our state’s laws after they are deceased. While there are some that argue that the Townsend court’s decision was a victory for creditors, FBA’s legal advisors do not believe the holding would be sustained or upheld by future courts in the long run. The FBA’s Trust and Wealth Management Division has voted to remain neutral regarding this legislation. The FBA – Here to Help Your FBA Trust Division is always looking for good legislative policy to push in the halls of the Florida Legislature. If your trust company has an issue that you think we can assist with, please reach out to me at kpratt@floridabankers.com in order to discuss a potential legislative solution. Over the years, we have had many good ideas that turned into legislation that came from individuals who were struggling at their trust companies with particular issues. Please let us know if we can be of assistance.

information about deceased individuals contained in the land records held by the Clerks of Court of Florida’s various counties. Where there is an estate with a recorded will or codicil, heirs or beneficiaries are listed. However, in some circumstances, the beneficiaries can be different from the heirs—for example, if a beneficiary dies, a homestead is devised invalidly, or there is an incorrectly named charity. Where there is no will, there are often no indications of who the beneficiaries may be from land records. Unfortunately, Florida’s Clerks of Court are allowed to destroy certain records after 10 years, which could bring light to those who are beneficiaries to an intestate estate. The legislation amends the statute to add to the list of orders that must be maintained by Clerks of Court. Those include: • Orders Admitting Will to Probate • Orders Determining Beneficiaries • Petitions Affecting or Describing Real Property and • Petition for Summary Administration. If passed, this legislation will assist trustees by saving them the time and added expense of identifying beneficiaries without going through other, more expensive judicial resources and means. Johnson v. Townsend Fix In 1992, the Florida Legislature adopted the Florida Disposition of Community Property Rights at Death Act. By passing this law, the legislature ensured that the testamentary intentions of new residents to the state, were strictly honored as it applied to relocating spouses that came from community property states. Thirty years later, a court case, Johnson v. Townsend , 259 So.3d. 851 (Fla. 4th DCA 2018), held that Florida’s probate claims procedures,

applied to title disputes arising under the act, are exempt. The Townsend ruling ultimately resulted in the unfortunate forfeiture of a surviving spouse’s property rights. Senate Bill 1064 and House Bill 923 have also been filed to directly address the ruling in the Townsend case. The legislation positively impacts trustees by providing trustee protections in Section 732.223, Florida Statutes. These provisions allow a trustee to transfer property, as provided in a will, trust or other valid interest, without being liable for that transfer if they relied in good faith on the validity of the governing instrument. The legislation also provides that a personal representative or curator does not have an

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TRUST AND WEALTH MANAGEMENT MINI FEATURE

TRUIST WEALTH: LET OUR CARING ADVISORS BE YOUR GUIDES

A t Truist, a top 10 commercial bank formed by the merger of BB&T and SunTrust, our purpose is to inspire and build better lives and communities. It’s the foundation for our decisions and it guides us every day. We live our purpose by delivering authentic care. Our teammates have countless opportunities to touch people’s lives and make our communities better. As a Truist Wealth client, you’ll collaborate closely with a caring advisor. We call them true advisors, and they’re here to have meaningful conversations not only about money, but also about the things that bring a real sense of purpose to your life. They’ll translate your goals and priorities into strategies and solutions, drawing on our group’s 100-plus years of combined wealth management experience. They’ll also inspire you with new ideas. A true advisor creates a team around you. Your Truist Wealth advisor takes the lead in your relationship and, based on your priorities, adds teammates who specialize in investments, insurance, and other areas to form a single team focused on you. They’ll get to know your needs, then customize your plan so everything works together — seamlessly. From tax considerations and strategic use of credit, to helping you with your wealth transfer goals — and beyond — your team is there. To offer objectivity. Depth of knowledge. And whatever is necessary to provide effective, reliable oversight through changing times and multiple generations. We know that no two people are exactly alike. Yet certain groups and careers share sets of financial challenges and opportunities and can benefit greatly from an insider’s knowledge. That’s why Truist Wealth provides specialty advisors who work exclusively with attorneys and law firms, medical professionals and practices, athletes and entertainers, and business owners. Our international team provides personal and business offshore banking needs for clients from over 50 countries around the world. Teammates in our

Foundations & Endowments group help nonprofit organizations amplify their charitable impact through deep knowledge, proactive collaboration, and tailored advisory and administrative solutions. At our Center for Family Legacy, teammates can help you enhance and sustain your family’s wealth. We specialize in organizing a family’s shared values and passions into a collective vision and preparing future generations to be responsible stewards of a family’s legacy. There’s an art to aligning the right investments to your goals. As a Truist Wealth client, you’ll have access to a range of investment solutions — from the simple to the complex — and advisory options depending on your situation. Our team of professionals analyzes the economy, markets, and investment solutions to develop insights, select asset managers, and provide investment strategy guidance. We also provide comprehensive retirement planning. Whether you’re retired, nearing retirement, or just starting to plan, we’ll develop a strategy that accounts for where you are — and where you want to be. Wealth accumulates. Goals shift. New needs arise. Your financial solutions can’t be static. They need to evolve with you. Early on, planning needs may be simple. But as both your wealth and your family grow, more complex challenges emerge. And for those fortunate enough to build considerable wealth, issues like tax planning, philanthropy, and family legacy begin taking center stage. With Truist Wealth, seamless services are structured to evolve with you. You’ll have access to the knowledge and resources you require, no matter how your wealth management needs change with the changing times. Let us help you envision all of the financial possibilities within your grasp — today, tomorrow, and for generations to come. Find a Truist Wealth advisor: Truist.com/wealth. A powerful portfolio starts and ends with a caring team.

*As of 6/30/2023

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Investment and Insurance Products: • Are not FDIC or any other government agency insured • Are not bank guaranteed • May lose value Truist Wealth is a marketing name used by Truist Financial Corporation. Services provided by the following affiliates of Truist Financial Corporation (Truist): Banking products and services, including loans and deposit accounts, are provided by Truist Bank, Member FDIC. Trust and investment management services are provided by Truist Bank, and Truist Delaware Trust Company. Securities, brokerage accounts and/or insurance (including annuities) are offered by Truist Investment Services, Inc., and/or P.J. Robb Variable, LLC., which are SEC registered broker-dealers, members FINRA, SIPC, and a licensed insurance agency where applicable. Investment advisory services are offered by Truist Advisory Services, Inc., GFO Advisory Services, LLC, Sterling Capital Management, LLC, and Precept Advisory Group, LLC, each SEC registered investment advisers. Sterling Capital Funds are advised by Sterling Capital Management, LLC. Insurance products and services are offered through McGriff Insurance Services, LLC. Life insurance products are offered through Truist Life Insurance Services, a division of Crump Life Insurance Services, LLC., AR license #100103477. Both McGriff and Crump are wholly owned subsidiaries of Truist Insurance Holdings, Inc. “Truist Advisors” may be officers and/or associated persons of the following affiliates of Truist Financial Corporation: Truist

Bank, our commercial bank, which provides banking, trust and asset management services; Truist Investment Services, Inc., which provides securities, annuities and life insurance products; Truist Advisory Services, Inc., which provides Investment Advisory services. Truist Investment Services, Inc. officers, employees, agents and/or affiliates may have positions in securities, options, rights, or warrants mentioned or discussed in this material. The views and opinions expressed are for informational and educational purposes only as of the date of writing and may change at any time based on market or other conditions and may not come to pass. This material is not intended to be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. The information provided does not take into account the specific objectives, financial situation, or particular needs of any specific person. All investments carry a certain degree of risk and there is no assurance that an investment will provide positive performance over any period of time. Therefore, past performance is no guarantee of future results. Comments regarding tax implications are informational only. Truist and its representatives do not provide tax or legal advice. You should consult your individual tax or legal professional before taking any action that may have tax or legal consequences. Truist Bank is an Equal Housing Lender. © 2024 Truist Financial Corporation. TRUIST, the Truist logo, and Truist purple are service marks of Truist Financial Corporation.

Julie Farah is a senior GenSpring region trust advisor with Truist Wealth. She offers clients more than 26 years of experience with trusts and estates as an attorney and as a trust advisor, and nine years of prior accounting experience. Julie helps clients manage their wealth and achieve their goals by identifying wealth planning opportunities involving trusts, insurance, and tax-driven and asset-protection entity structures. She develops and oversees the implementation of comprehensive financial and estate plans. Julie holds a bachelor’s of business administration in accounting, a doctorate of jurisprudence, and a master’s of laws in taxation. She is the current chair of future planning and immediate past treasurer for The League Club of Naples. MEET JULIE FARAH

WWW.FLORIDABANKERS.COM FEBRUARY 2024 — 17

BANCSERV ENDORSED PARTNER: SHAZAM

BY RONNIE SEIBER, REGIONAL DIRECTOR OF SALES - CORE, SHAZAM IT’S TIME TO HAVE SOME TOUGH CONVERSATIONS ABOUT CORE F L O R I D A B A N K E R S A S S O C I A T I O N

Y our core commands your attention as one of your biggest technology investments at your bank. It’s the hub of your technology stack and often the gatekeeper that decides who you can and can’t work with. Today, innovative and complimentary technologies, like instant payments or an unending string of fintech solutions, are waiting at your doorstep. They’re differentiators signaling your ability to compete. Now, more than any time in the last two decades I’ve been in the banking industry, there are some important questions banks need to be asking about their core. 1. Nickels, Dimes and Pennies “If I can’t trust you with a penny, I can’t trust you with a million,” is a statement I heard a lifetime banker once make. The question begging to be asked is, “Is your core nickel and diming you?” Take a close look at your contract and then look at your billing statement. How many fees are you paying now that your core provider didn’t disclose? Look for a partner who keeps their pricing structure simplified and not spread out over 25 pages of an agreement. That kind of contract makes it harder to understand what the bottom line is. Demand transparency: understand what, if any, escalators kick in as you grow. Are there automatic inflationary increases? You deserve to know what you’ll pay long term. If you’re evaluating whether to stay with your current provider, ask about second term incentives. Some core providers offer large incentives in the form of flex credits, but buyer beware! Often those credits only kick in when you spend more on the core’s ancillary services. Why should you have to spend more to receive the incentives promised? Look for a partner who offers loyalty payments for longer term

“THE NUMBER ONE REASON WE CAME TO SHAZAM CORE, WAS THE RELATIONSHIP WITH SHAZAM AND THEIR FOCUS ON OUR SUCCESS. WE HAVE A TRUE PARTNER THAT WE CAN COLLABORATE WITH AND BE INVESTED TOGETHER IN THE SUCCESS OF BOTH THE BANK AND THE PRODUCTS.”

- ANDREW COUSE PRESIDENT & COO, FIRST BANK CLEWISTON, FLORIDA

and second terms. Those are the partners truly vested in the relationship. 2. Service, Service and Service In most communities, the differentiating factor between your financial institution and the large

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conglomerate down the road is service. You provide something they can’t because you are truly invested in the community and understand your customers’ needs. As you look for the right core partner, why shouldn’t you demand the same? When you are performing diligence, ask about service centers: • Where are they located? • What is the average response time to an issue? • What are the average closure ratios? Get specific about the people serving you: •Will you get an answering service or a live specialist? •Does support personnel have experience at a financial institution? It’s important to know if they have walked a mile in your shoes. • Do you have to enter a service ticket via email or a portal? •Can you pick up the phone and speak to someone? •Your customers don’t expect to have to enter a service ticket to find out more about their money, neither should you. Maybe most important, is their support tiered? Your bank’s size shouldn’t demote you to second class customer. Ensure you are moving forward with someone who doesn’t treat you as a number or an account, but as a valued customer who will get to know you by name. It matters. 3. Flexibility, Choice and Voice Your bank is unique, and your core should support and reflect that. Don’t get pushed into a corner with the “bank in a box” theology. Look for a partner who will allow you the flexibility to integrate with third party ancillary products. And while we’re on the subject, third party integration should not come with an outrageous price tag. A good partner will offer API’s and willingly work with other providers to ensure your bank has the flexibility to meet the changing needs of the marketplace without eating up next quarter’s profits. Understand the influence your bank will have on your core provider’s strategic decisions. If a core really values its partners, there will be a regular venue for your feedback. Ask if your core partner has active user conferences where executives interact with customers, advisory groups that meet regularly and feedback loops that actually drive decisions. Your input is critical, and your questions should be welcomed. If a core provider is not willing or able to spend the time answering yours, it is a crystal-clear indicator of what you can expect every day from that partnership.

to have a conversation about your core, he can be reached at rseiber@shazam.net. SHAZAM is the only nationwide independent, member owned core provider, debit network, and processor supporting financial institutions. Since we don’t answer to shareholders, we can reinvest profits in technologies our clients need as they serve the next generation of consumers. SHAZAM ensures our clients have the products and services they demand and expect in a cost-effective way.

File, store, secure and access your files and documents from one secure, convenient system. Information Management Made Easy.

Ronnie Seiber is a SHAZAM Regional Director of Sales – Core for the state of Florida. If you’re looking

WWW.FLORIDABANKERS.COM FEBRUARY 2024 — 19

CONGRATULATING FBA'S DIANNE PAGEL ON HER RETIREMENT

“DIANNE IS A REMARKABLE

F BA Accounting Coordinator Dianne Pagel has served the association for 12 years; she retired on January 31. We are so grateful for her service to the FBA and our members and congratulate her as she moves into this next season of life. “Dianne is a remarkable person and I have genuinely loved working with her over the past 12 years,” said FBA Senior Vice President and CFO Lesley Jordan.“I will miss that smile and infectious personality and hope that she still remembers us when she collects that BIG lottery win! Many wishes to you in your retirement adventure!” Pagel is lauded by her FBA team for her professionalism, dedication, and character. She was also known for being an enthusiastic participant of all FBA holiday activities and dress-up days! “Dianne is a true professional. It was both a pleasure and an honor to work with Dianne at the FBA. She is a very dedicated and hard-working individual, but also one of the nicest people you could call a colleague. The FBA will miss both the person and the professional when she retires from the FBA,” said former FBA CEO Alex Sanchez. FBA Executive Vice President and COO Pam Ricco added, “I will truly miss Dianne; she is an incredibly capable and diligent worker and an absolutely delightful human being. One definition of ‘unicorn’ is, ‘something that is highly desired and difficult to obtain.’ It is no wonder Dianne loves unicorns,

because she is just that! Everyone needs a Dianne Pagel in their life. Thank you, Dianne, and God bless you now and forever.” Dianne, what have you loved most about your work at the FBA? “I think we have one of the best teams of any place I’ve worked. We work hard but have such a good time. It might sound silly, but I enjoy the times when we’re in the board room together stuffing envelopes or working on some other project, and we’ll swap funny stories. The next thing you know, the work is done! We really care about each other personally and professionally.” What is one of your favorite memories of your time at the FBA? “I participated in the ALS Ice Bucket Challenge in my early years at the FBA; the challenge raised money and awareness for ALS. This was a very personal issue for me because my older brother Tom passed away in 2013 from this horrible disease. I took the challenge in the parking lot of our FBA building, and then a few days later, former FBA CEO Alex Sanchez accepted the challenge as well. None of us go through anything alone. I have had some other health scares, and the way I was treated by my FBA team during those times was incredible. Even thinking about it now brings tears of joy to my eyes.”

PERSON AND I HAVE GENUINELY LOVED WORKING WITH

HER OVER THE PAST 12 YEARS.”

- LESLEY JORDAN, FBA SENIOR VICE PRESIDENT AND CFO HOW DO YOU PLAN TO SPEND YOUR TIME IN RETIREMENT? • Traveling to Colorado to visit a good friend, and then making a trip up north to see family • I plan to try my hand at a small vegetable garden • Visit the Grand Canyon WHAT WOULD YOU LIKE TO LEARN? • Crochet • A foreign language

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