Florida Banking March 2023

THE MAGAZINE OF THE FLORIDA BANKERS ASSOCIATION WWW.FLORIDABANKERS.COM SEPTEMBER 2020 THE MAGAZINE OF THE FLORIDA BANKERS ASSOCIATION WWW.FLORIDABANKERS.COM MARCH 2023

T h e First Bank Staying True to its Southern Banking Roots

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-Mata: 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

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 2

MARCH 2023

ON THE COVER 8 �� �� �� �� �� �� �� �� �� �� The First Bank: Staying True to its Southern Banking Roots CONTENTS 4 �� �� �� �� �� �� �� �� �Chair’s Message 6 �� �� �� �� �� ��Straight Talk from the President’s Desk 12 �� �� �� �� Government Relations: BankPac Report 16 �� �BancServ Endorsed Partner: Navigating the Potential Impact of Recent Regulatory Guidance 18 �� �Florida Bankers Educational Foundation: The FBEF Wants to Help You Advance Your Career in Banking 20 �� ��FBA Leadership Luncheons Honoring FED Governor Michelle Bowman 24 �� �� �� �� ��Personal Transactions 26 �� �� �� �� �� �� �� �� �� �� �� �� ��Kudos 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: The First Bank President and CEO Hoppy Cole

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

The First Bank photos by Lee Cave, C Studio Photography

©istock.com: Michael Warren; DIPA

CHAIR’S MESSAGE

CAN’T MISS KEYNOTE: MARIA BARTIROMO AT FBA’S ANNUAL MEETING

BY BILL PENNEY, FBA CHAIR

H ave you heard? FOX Business’ Maria Bartiromo will be our keynote speaker at the FBA’s 135th Annual Meeting! Bartiromo is a hard working, well-respected financial journalist who has been incredibly supportive of our industry. You will not want to miss her remarks at this event. We are so honored that she is going to visit our beautiful state of Florida to spend time with us. As

On Day 1, we have the chance to ask questions of representatives from each of the regulatory bodies during our “Rap with the Regulators” panel. Our Welcome Reception on that same evening will officially kick off the event. On Tuesday, July 11, we gather for the general session and informative panel discussions, and then enjoy a themed evening at the BankPac Silent Auction. Consider donating an item for the auction, and

you know, Bartiromo often invites the FBA to be a guest on her show “Mornings with Maria.” These appearances on national television give us an impressive platform to speak out about the latest issues impacting the banking industry and our nation’s economy. The FBA team, and particularly President and CEO Alex Sanchez, has nurtured this professional relationship with Bartiromo over many years. This year’s event will be held June 11-14 at the Ritz-Carlton Grande Lakes in Orlando. Though hearing Bartiromo speak

more importantly, bid high and bid often! This event is BankPac’s largest fundraiser of the year and provides important funds to support political candidates who advocate for a free and competitive marketplace. We have Maria’s keynote speech to look forward to on Wednesday, our third and final day, as well as breakout workshops led by industry leaders and a celebratory awards luncheon. We’ll cap the 135th Annual Meeting with the final banquet and an entertaining evening of fellowship. (Who remembers last year’s hilarious

“BARTIROMO IS A HARD WORKING, WELL-RESPECTED FINANCIAL JOURNALIST WHO HAS BEEN INCREDIBLY SUPPORTIVE OF OUR INDUSTRY.”

will be worth the cost of admission (and more!), there is so much else to look forward to. The FBA puts on an incredible program each year. There will be opportunities for professional development, networking and fun. We’ll hear from industry experts and knowledgeable speakers, catch up with our colleagues from around the state, raise funds for FBA’s scholarships and advocacy efforts, and conduct business such as installing new officers and board members. After a busy, exciting year as your Chair of the FBA, I will have the honor of passing the torch to Incoming Chair Jose Cueto.

diamond heist?!) Let me also remind you that this will be our fearless leader Alex Sanchez’s last Annual Meeting as FBA CEO, after 30 years of dedicated service to the association and our industry. Suffice to say, this will be an event to remember. I hope every member bank will send at least one representative to our Annual Meeting in June. Be sure to register today and make your hotel reservations. I’ll see you in Orlando! Visit the FBA website to register and stay up-to-date with the most current program information: www.FloridaBankers.com/AnnualMeeting

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STRAIGHT TALK FROM THE PRESIDENT’S DESK

A MESSAGE FROM FORMER PRESIDENT GEORGE HERBERT WALKER BUSH

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

A few years ago, my good friend Chuck Nicholson sent me a very special email containing a handwritten note from President George H.W. Bush to a friend of Chuck’s. I have kept Chuck’s email all these years because I wanted to write a column dedicated to the points the late President made in his letter, a code of honor that we should all follow. Our world needs the words of humility expressed by President Bush now more than ever. We have an explosive media willing to broadcast shouting heads on the air, ready to fire away without knowing the truth or facts. Many reporters today broadcast stories without confirming the facts nor the credibility of their sources. We have a political environment that, quite frankly, can be nasty. While politics has always been for those who can take the heat in the kitchen, President Bush embodied statesman and stature qualities, something that is sorely missing today. President Bush, in my opinion, was a man of great honor. In many ways, he was not made for politics. He was humble and carried himself with the humility of an everyday person. In politics, especially today (but true even in his time), one must brag about one’s accomplishments. President Bush lost the 1992 election because he did not engage in self-promotion. Here is a person who became a fighter pilot at the age of 20 to fight for our country during WWII — wow. He went on to become the Director of the CIA, a Congressman, Ambassador to the United Nations, a successful business owner and eventually Vice President and President. He raised a great family, including one son who went on to become President, and the other — our own Jeb Bush — who became one of our greatest Governors in Florida.

In his 1992 reelection, he entered an era requiring that one be more photogenic and telegenic to be successful. President Bush was a doer and did not blow his own horn, two badly needed traits in politics in order to be successful. In the note to Chuck’s friend, President Bush wrote: I cannot single out the one greatest challenge in my life. I have had a lot of challenges and my advice to young people might be as follows: 1. Don’t get down when your life takes a bad turn. Out of adversity comes challenge and often success. 2. Don’t blame others for your setbacks. 3. When things go well, always give credit to others. 4. Don’t talk all the time. Listen to your friends and mentors and learn from them. 5. Don’t brag about yourself. Let others point out your virtues, your strong points. 6. Give someone else a hand. When a friend is hurting, show that friend you care. 7. Nobody likes an overbearing big shot. 8. As you succeed, be kind to people. Thank those who help you along the way. 9. Don’t be afraid to shed a tear when your heart is broken because a friend is hurting. 10. Say your prayers! President Bush’s advice to Chuck’s friend are words we should remember and practice each day. The essence of these words of advice have been said and shared over the course of history, but it was refreshing to see a political leader use them again. Thank you, President Bush, for your tremendous service to our nation. Your kinder, gentler manner will live on.

6 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

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 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.

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

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 important banking issues Luncheon with a keynote speaker + Capitol Night: 5:00 - 9:00 pm 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 www. fl oridabankers.com/CDCN

SPONSORED BY: SPONSORED BY:

WWW.FLORIDABANKERS.COM/CDCN WWW.FLORIDABANKERS.COM/CDCN

8 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

Staying True to its Southern Banking Roots T h e First Bank

T he First Bank has embraced growth and expansion in the Southeast while staying true to its roots as a community bank founded in “Hub City” Hattiesburg, Miss. The bank had two groups of initial investors who came together to create The First as we know it today. In 1996, a group of local investors in Hattiesburg started The First National Bank of South Mississippi. A couple of years later, investors in neighboring Laurel raised the capital to start The First National Bank of the Pine Belt,

Cole, too, understands what it’s like to be on the other side of the table as a client and business owner, thanks to his time as CFO of a large, privately-held organization called The Headrick Companies in the years prior to joining The First. Cole is grateful for the experience of learning how to run a business, and particularly for the mentorship of company owner Richard Headrick who taught him how to manage a team. “If you’re going to be a banker, it’s great experience to have sat on the other side of the table and see

eventually combining with the Hattiesburg bank to create a two bank holding company owned by The First Bancshares, Inc. President and CEO M. Ray “Hoppy” Cole, Jr., joined the bank as one of the original investors in Laurel, and sat on the boards of both the bank and the holding company. He began working for the bank in 2003 as a branch manager, moving up through the company until he was named CEO in 2009.

what our clients are going through. You will have a better appreciation for who you’re banking and how their business works,” Cole said. In his role as MBA Chair, Cole’s goal is to speak out about the important role that community banks play. “We have a unique platform, and we don’t want to lose sight of it. Maybe at no other time in the country’s history has the community bank business model been more important than during the pandemic and the implementation of the paycheck protection

“IF YOU’RE GOING TO BE A BANKER, IT’S GREAT EXPERIENCE TO HAVE SAT ON THE OTHER SIDE OF THE TABLE AND SEE WHAT OUR CLIENTS ARE GOING THROUGH."

- HOPPY COLE

“Starting out as a branch manager helped me build a rapport with our bankers and better understand our culture. I gained important institutional knowledge,” Cole said. The relationship banking model is important to Cole’s leadership approach, having seen it exemplified by his mother, Ellen Cole, growing up. She will celebrate a career of 65 years in banking this year. According to Cole, his mother has “retired” on at least four separate occasions, but continues to return to the career that has shaped her. Today, she serves as The First’s Community Development Officer for the Mississippi Gulf Coast. As Chair of the Mississippi Bankers Association for the 2022-23 term, Cole will have the honor of presenting his mother with a certificate in recognition of her dedicated service to the community at the association’s annual convention in May. “She embodies community banking,” Cole said. “Anywhere we go, she’s approached by people who want to thank her for how she’s helped them.”

program,” Cole said. “The success of PPP showed us why we need a well-diversified, healthy community bank system. Community banks are essentially a collection of small businesses; they have the ability to respond to needs locally.” As the bank expands across the southeast, local decision making continues to play a role in its strategy. “If you look at the map, all the dots connect across the southeast, and that’s by design. We have been disciplined about being geographically contiguous. We’ve targeted markets with great demographics and strong population and income growth rates. For the sake of efficiency, we pair that strategy with local management teams who understand the market and grow it organically,” Cole said. “We drew a box on the map and said, ‘we love Mississippi, and we serve some of the best markets in Mississippi, but we’re going to look for opportunities to grow.’” The First Bank, Continued on page 10

WWW.FLORIDABANKERS.COM MARCH 2023 — 9

coming.’ They made us stop growing and instead set up the enterprise risk systems when we were $500 million, so that in 2009 we emerged with a lot of capital and no credit issues,” Cole said.

The First Bank, Continued from page 9

The First Bank recently acquired Beach Bancorp, Inc. and Heritage Southeast Bancorporation, Inc. Atlanta-based Heritage Southeast Bank operated 23

branches across Georgia and northeast Florida; the merger will deepen The First’s presence in Georgia and Florida and provide the bank with entry points into the Atlanta, Savannah and Jacksonville markets. Referring to Heritage Southeast Bank, Cole remarked, “Outstanding bank, outstanding people. Culturally, we are so much alike. They are — as we are — pleased that they’re not going to be working for a credit union, because that’s a very different business model.”

Though The First has since changed its charter for a more efficient structure, Cole speaks positively of both regulatory bodies, admitting, “our regulators make us better.” Today, The First has approximately $7.9 billion in total assets and 114 locations across Mississippi, Louisiana, Alabama, Florida and Georgia. Cole and his team are thankful for the bank’s humble origins and excited for continued growth. “If you look at our history, about two-thirds

“WE’RE ACQUISITIVE BECAUSE WE’RE BUILDING A FRANCHISE IN SOME OF THE MOST DYNAMIC, FASTEST GROWING MARKETS IN THE SOUTH.”

- HOPPY COLE

Cole credits the Office of the Comptroller of the Currency (OCC) for much of the bank’s success, as it was the bank’s regulators who helped position The First for growth in the years preceding the Great Recession. “In 2006, our regulators came to us and said, ‘You’d better get your house in order, because a crisis is

of our growth has been acquisitive, and about a third has been organic. And those strategies are not mutually exclusive,” Cole said. “We’re acquisitive because we’re building a franchise in some of the most dynamic, fastest growing markets in the South. If you’re in the money business, you’ve got to go where the money is.”

The First Bank executive team.

10 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

MILTON RAY “HOPPY” COLE, JR. M. Ray “Hoppy” Cole, Jr. , currently serves as President and CEO of The First Bancshares, Inc. and The First Bank — and serves as the chairman of both Boards of Directors. Prior to joining the bank in September 2002, Cole was secretary/ treasurer and chief financial officer of the Headrick Companies, Inc., for 11 years. Cole began his career with The First National Bank of Commerce in New Orleans, Louisiana and held the position of corporate banking officer from 1985-88. In December of 1988, Cole joined Sunburst Bank in Laurel, Miss., serving as senior lender and later as president of the Laurel office. Cole graduated from the University of Mississippi where he earned a Bachelor’s and Master’s Degree in Business Administration. Cole attended the Stonier Graduate School of Banking at the University of Delaware. He currently serves as the Chairman of the Mississippi Bankers Association. He is a member of Venture Church. He and his wife, Cindy, have four sons and three granddaughters and currently reside in Ellisville, Miss.

ELLEN COLE

Ellen Cole is Community Development Coordinator for The First’s Mississippi Gulf Coast branches and will celebrate a career of 65 years in banking this year. She started her career in 1957 at Merchants & Marine Bank in Pascagoula, later working for Sunburst Bank where she became the first woman bank president in Jackson County. Cole attended Mississippi Gulf Coast Community College and graduated from the LSU School of Banking. In 2004, she became President of The First and opened its first branch on the Mississippi Gulf Coast. Over the course of her career, she has been heavily involved in the community, serving in leadership roles for organizations including United Way of Jackson/George Counties, Jackson County Chamber, Moss Point Rotary, March of Dimes and American Heart Association, National Association of Bank Women, and Salvation Army Advisory Committee. Cole has received numerous awards over the course of

her career, including the Jackson County Chamber of Commerce Jolly McCarty Award for Leadership, recognition as a “Woman of Excellence” by the Gulf Coast Group of Financial Women, and also “Outstanding Woman of the Gulf Coast” presented by the American Bankers Association and the Women’s Bureau of the U.S. Department of Labor. “All of this would not have been possible without the support of my family,” Cole said. “I have been married to M.R. Cole, Sr. for 63 years.” Cole and her husband are the proud parents of two sons, M.R. ‘Hoppy’ Cole, Jr. and Robert Alan Cole (deceased), who have blessed them with ten grandchildren. “I am grateful to the many mentors I have had throughout my career that have supported me and allowed me to spread my wings. I must also acknowledge the supportive and loyal customer base I’ve served over the years who have given me the opportunity to serve their families’ financial needs.”

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GOVERNMENT RELATIONS

BANKPAC REPORT

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

T he 2023 BankPac Board of Directors is ready to make BankPac a success! The BankPac Board is made up of bankers from across the state and from all different sized financial institutions. The members of this year’s BankPac Board of Directors are: • Amy Hale, Chair, BMO Private Bank • Rick Pullum, Vice Chair, One Florida Bank • Tom Basta, Citibank, N.A. • Ralph Betancourt, First Colony Bank of Florida • Susan Blackburn, Seacoast Bank • Randy Chesak, Hancock Whitney Bank • Guillermo Chiang, ServisFirst Bank • Jason Crowe, Community Bank • Simon Cruz, Intercredit Bank, N.A. • Joe Dorsey, InclusivBANK (I/O) • Veronica Flores, First National Bank of South Miami • Moyle Fritz, First National Bank Coastal Community • Carlos Iafigliola, Amerant Bank, N.A. • Jason Isbell, Regions Financial Corporation • McHenry Kane, City National Bank of Florida • Neil Kinnebrew, Synovus Financial Corporation • Jeff Klink, Valley Bank

• Greg Littleton, Citizens Bank & Trust • John Medina, First Federal Bank of Florida • Dennis Murphy, Gulfside Bank • Isis Pacheco Velasco, Interamerican Bank FSB • Tom Pennekamp, Truist Bank • Eric Schreck, TrustCo Bank • Mike Sleaford, SouthState Bank • Alex Soto, International Finance Bank • John Thompson, Central Bank • Rob Trott, First National Bankers Bank • Shaun Williams, Marine Bank & Trust Company The FBA Board of Directors and the BankPac Board of Directors thank all who have made contributions to BankPac throughout the years. BankPac funds are essential for supporting candidates who advocate for a free and competitive marketplace. BankPac contributions help to protect the future of our member institutions. Please donate an item to the state BankPac Silent Auction which will be held at this summer’s Annual Meeting. A big thank you to First National Bankers Bank (FNBB) for their generous sponsorship of the Silent Auction to make sure it is a huge success. Thank you FNBB!! Once again, the FBA thanks its 2023 BankPac Board of Directors for their time and talents in helping this critical mission.

12 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

135 TH ANNUAL MEETING JUNE 11-14 | ORLANDO 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

VENUE INFORMATION THE RITZ-CARLTON GRANDE LAKES, ORLANDO 4012 CENTRAL FLORIDA PARKWAY ORLANDO, FL 32837 The FBA Room Block is only available for registrants of the FBA's 135th Annual Meeting. You must be participating as an attendee, speaker or vendor in order to qualify for the room block.

REGISTER TODAY:

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

WWW.FLORIDABANKERS.COM MARCH 2023 — 15

BANCSERV ENDORSED PARTNER: BHG FINANCIAL

NAVIGATING THE POTENTIAL IMPACT OF RECENT REGULATORY GUIDANCE

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BY GALE SIMONS-POOLE, CHIEF REGULATORY RELATIONS OFFICER, BHG FINANCIAL

take to successfully prepare themselves for a shifting compliance backdrop: Climate Risk Impacts large financial institutions first; the Federal Reserve Board will conduct a pilot to analyze climate related financial risk involving the six largest U.S. banks in early 2023. Modernize the Community Reinvestment Act Mainly affecting retail lenders, changes to the CRA would — among many other things — increase access to credit, investment, and basic banking services in areas where it is needed most; generally, in low- and moderate-income communities. Small Business Lending Data Collection Will impact most U.S. financial institutions when implemented in 2023. Requires lenders to annually report small business credit application data, including credit purpose, loan amount, business info and location, gross annual revenue, NAICS code, and more. Expansion of UDAAP Standards Broadens the scope of consumer activities subject to UDAAP beyond lending to include advertising, pricing, servicing, reporting, payments, and collections. However, a lawsuit by several banking trade associations seeks to prevent the expansion of CFPB’s UDAAP role beyond its Dodd-Frank Act statutory authority. Reporting Credit Decisions Using Complex Models/Algorithms Lenders using A.I., machine learning, and/or complex credit models must disclose the precise reason(s) for credit denials as required by the Equal Credit Opportunity Act. Adverse action notices must

KEY TAKEAWAYS: • Banks large and small will face a plethora of issues on the regulatory agenda in the new year ahead. • Topics as complex as artificial intelligence and as broad as global climate change are just two of the many regulatory focus areas that banks must contend with. • To stay compliant amid impending legislative shifts, banks may wish to partner with an external regulatory expert for guidance and support.

A s we enter 2023, our industry is faced with unprecedented risk management challenges amid rapid technological and competitive changes. Federal and state authorities have recently issued guidance to address paradigm-altering shifts such as climate change, artificial intelligence (A.I.), cryptocurrency, digital and mobile banking, credit models, data security, and more. Financial institutions should understand how these changes could affect their operating model and strategy. Following are highlights of recent select regulatory guidance. Learn how they might affect community banks in the near term and discover the steps banks can

16 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

also be timely and provide accurate reasons for denial, as mandated by current requirements. Enhanced Consumer Privacy Laws Five states have already enacted enhanced regulations: CA is already in effect; CO, CT, CA, and UT state requirements become effective in 2023. Six other states (MA, MI, NJ, NC, OH, PA) have active legislation pending. Oversight of Bank Third-Party Risk Management (TPRM) Vendor/third-party relationships are generating renewed scrutiny, especially fintech partnerships. Ineffective TPRM could be cited as unsafe or unsound practice. Banks must demonstrate TPRM through documentation of third-party relationships, conduct audit and performance reviews, and require third parties to provide data that confirms the quality and sustainability of controls to meet service agreements. What’s an appropriate change management strategy for community banks? Each regulatory scenario described above warrants a course of action specific to that issue. For example, regarding the enhanced consumer privacy laws, banks should revisit privacy disclosures, notices, and policies within the states they operate. On a broader scale, it would be prudent for banks to utilize the strategies below to successfully manage the collective number of impending regulatory changes following these three steps.

imperative for this stakeholder to document your bank’s change management efforts for subsequent review by external parties. 3. Partner with an external regulatory expert Given the scope of impending legislation, banks may want to simply outsource their regulatory practice to an external provider. Staying current with newly implemented and/or potential regulations requires time, expertise, and deep industry knowledge. An external overseer can advise on necessary regulation and compliance issues, giving banks the freedom to focus on serving their communities. In addition, hiring an external partner may be a cost-effective solution for smaller banks that do not have the resources to maintain or support a compliance function. As Chief Regulatory Relations Officer (SBA), Gale Simons-Poole expertly navigates regulatory and compliance matters for BHG lending programs and supports BHG’s risk management and reporting. Simons-Poole’s three decades in bank supervision include 23 years with the FDIC, most recently as deputy regional director, Risk Management Supervision. Before joining BHG, she spent seven years as director for Promontory Financial Group, advising clients from large insured national banks to community banks.

1. Stay informed of changes through industry groups and trade associations Seek clarification and/or assistance from trusted partners outside of your organization. In addition, involve your operations, technology, and compliance staff to gain a comprehensive view of any potential changes. It is also prudent to communicate with your board and senior staff to document your regulatory discussions in board minutes. 2. Designate an internal stakeholder to implement/ monitor regulatory changes In addition to participating in the activities discussed above, this individual can conduct testing after implementation to ensure the process and related controls are operated as intended. It is

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WWW.FLORIDABANKERS.COM MARCH 2023 — 17

FLORIDA BANKERS EDUCATIONAL FOUNDATION

THE FBEF WANTS TO HELP YOU ADVANCE YOUR CAREER IN BANKING

BY LETTY NEWTON, DIRECTOR OF FLORIDA BANKERS EDUCATIONAL FOUNDATION

S ince 1956, the Florida Bankers Educational Foundation (FBEF) has served as a financial resource for future Florida bankers, helping them complete their educations so they can advance in their banking careers. Will you be next? Now that we are in a new year, you should take this opportunity to work on your professional development and go back to school. Contact the FBEF and let us help! The FBEF offers forgivable loans which are paid in full after graduation and the completion of one year of employment with a Florida bank or trust company. Before applying, students must have already been employed at least part-time by a Florida bank or trust company for two years. The FBEF Scholarship/Loan Program offers financial assistance of $4,000 for junior and senior students and $5,000 for graduate students. Students attending one of the FBEF’s participating colleges and universities, majoring in a banking-related field of study, and planning to continue their career in Florida banking are eligible to apply. Since many of the FBEF Scholarship/Loan recipients work full-time, students are only required to take 12 credit hours per calendar year. Any banker who has five years of full-time employment in Florida banking prior to applying for the FBEF Scholarship/Loan is eligible for a grant. Grant recipients are excused from the required one year of full time employment in Florida banking after graduation. Freshmen and sophomore students who are career bankers, with five years or more of full-time, Florida banking employment, are also eligible for an additional $3,000 in funding, increasing the amount of potential funding for undergraduate grant recipients to $7,000.

Over the years, the FBEF has seen more and more career bankers wanting assistance to continue their education outside of traditional college degree programs. The Florida Bankers Association (FBA) has been committed to helping banks since 1888, and we continue to do that today with new ways to help our bank employees. In addition to providing financial assistance to bankers who wish to return to school to complete their college degree, the FBEF is pleased to announce the FBEF Career Development Program . Bankers who will be attending an approved professional development program, but do not have financial support from their employer, will be able to apply for FBEF financial assistance that can help pay for tuition. Students attending the Florida School of Banking and the Florida Trust & Wealth Management School may apply for tuition assistance. In addition, students attending the LSU and Stonier Graduate School of Banking or most ABA or ICBA endorsed graduate school of banking programs may also apply. The FBEF would love to help you make 2023 your best year yet. We look forward to hearing from you! ​For more information about how the FBEF might be able to help you, please contact FBEF Director Letty Newton at (850) 701-3522 or lnewton@ floridabankers.com. FBEF applications can be found online at www.FloridaBankers.com/FBEF. Since 1956 the FBEF has helped bankers around the state advance their careers through education. The FBEF is a 501(c)(3) non-profit organization registered with the Florida Department of Agriculture & Consumer Services, Registration #CH7621.

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FBEF WELCOME RECEPTION Tuesday, March 21 | 5:30 – 7:00 PM OverUnder Bar + Lounge Plan to join us the night before FBA's Capitol Day for this fun reception that raises funds for the Florida Bankers Educational Foundation (FBEF). *You must register separately for the FBEF Welcome Reception. A BIG thank you to our reception sponsors:

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 • Wine Sponsor – Saltmarsh, Cleaveland & Gund • Dessert Sponsor – Madison County Community Bank • Name Badge Sponsor – Five Iron, LLC • Napkin Sponsor – Wolf & Company • Friend of the Foundation – ICI Consulting, Inc.

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FBA LEADERSHIP LUNCHEONS HONORING FED GOVERNOR MICHELLE BOWMAN HOTEL AKA BRICKELL, MIAMI HILTON TAMPA DOWNTOWN, TAMPA

PHOTOS COURTESY OF MARK GALL, IMAGES FOR BUSINESS, ORLANDO, FLA. T he FBA hosted leadership luncheons in both Miami and Tampa honoring Fed Governor Michelle Bowman on January 10 and 11. The events drew a combined audience of more than 400 bankers. Governor Bowman made excellent remarks

about the economy, recent Fed actions, and the regulatory regime. The FBA is grateful to Governor Bowman for being so generous with her time; these relationships with our banking regulators are vital to our industry.

20 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

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PERSONAL TRANSACTIONS

PROMOTIONS / NEW HIRES FORT MYERS

TALLAHASSEE

Sanibel Captiva Community Bank has promoted Mike Hartman to senior vice president. This is Hartman’s second promotion within a year. In 2022, he was promoted from assistant vice president to vice president. Hartman is based in the bank’s Bridge Branch.

Capital City Bank announced Don May has been named president of Leon and Gadsden counties with the responsibility of providing leadership for local banking teams while strengthening the company’s

Hartman

May

position in both communities. May assumes the role as William Smith is tapped to direct market strategy and development as the regional market executive for North Florida. As a second-generation Capital City Banker and Tallahassee native, May brings more than 30 years of management and banking experience to the role of community president. He has held executive-level positions with Farmers and Merchants Bank, The First and most recently, Tallahassee National Bank. May graduated with his bachelor’s degree from Florida State University College of Business and and MBA from Troy University. Additionally, he is a graduate of the Louisiana State University Graduate School of Banking and the Leadership Tallahassee Class 13. May demonstrates the Capital City Bank commitment to community involvement through active membership with the Economic Club of Florida and Florida Bankers Association Government Relations Council. He also sits on the boards of North Florida Fellowship of Christian Athletes and Network of Entrepreneurs & Business Advocates, the latter of which has named him its 2023 president.

Hartman joined the bank in 2015 and works in both conventional and portfolio lending. He brings decades of experience in the real estate, development and construction fields to the bank’s residential lending division and specializes in construction lending, refinancing and residential purchases.

PANAMA CITY

Community Bank announced that Trey Brownlee III has been named loan officer. A native of Blakely, Ga., Brownlee recently served as credit analyst and has been in banking for two years. In his new role, he will focus on growing his loan and deposit portfolio. Brownlee is a graduate of Troy University with a Bachelor of Science degree in Financial Economics. Active in his community, Brownlee is a member of Lions Club of Panama City and attends The Church at the Beach in Panama City Beach, Fla. Brownlee III

STUART

Seacoast Banking Corporation of Florida announced that Amanda Martland has been selected as chief marketing officer. She will lead marketing efforts across the enterprise, reporting to Executive Vice President Jeff Lee, to drive new

VERO BEACH

Marine Bank has announced that Nicki Maslin has been named vice president and banking center manager of its Sebastian banking center. Georgia Irish, the current banking center manager, is retiring

Martland

customer acquisition, deepen customer relationships, and promote the Seacoast brand. Martland joined Seacoast Banking Corporation in 2004. Her career with Seacoast includes roles in accounting and finance, performance management, retail sales and more than 10 years in marketing. Within her marketing tenure, she led several product launches, managed and executed multi-channel cross-sell and prospecting campaigns, and oversaw marketing activities related to 16 bank acquisitions. In addition, Martland led the direct response marketing team for all lines of business in her most recent role. Martland was raised in Seacoast’s headquarters city of Stuart, Fla., and holds a bachelor’s degree in business administration, with a specialization in mass communication, from the University of Florida.

Maslin

at the end of March after more than 16 years with the bank. Maslin has been named a 40 Under 40 by Vero Life Magazine and a Young Professional of the Year by the Indian River County Chamber of Commerce. She was awarded the Hope through Service award by the Hope for Families Center and is a graduate of Leadership Indian River County. In addition to managing the day-to day operations of the Sebastian banking center, Maslin is responsible for ensuring an exceptional Marine Bank client experience while developing relationships in the community.

24 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

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SEND US YOUR NEWS Send submissions to Brooke Harrison at bharrison@ floridabankers.com

CEIS serves 135+ commercial lending institutions throughout the U.S. and overseas. Each of our credit professionals brings an average of more than 20 years of lending and/or executive-level experience to every

CEIS client engagement. • Loan Review Programs

• Loan Portfolio Stress Testing • ALLL Methodology Validations • CECL Implementation Project Management

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

36th Annual Consumer Compliance Seminar April 5-7, 2023 The Florida Hotel, Orlando This seminar has been applied for 20 CRCM continuing education credits from the ABA. Primary Facilitator: Kristen Stogniew, Shareholder, Saltmarsh, Cleaveland & Gund With three distinct training tracks, this program provides more value-added benefits than any compliance forum of its kind. Each day will begin with a general session followed by breakout sessions with discussions of timely, emerging issues including consumer lending and deposit/operations critical issues, risk-management, audit, and "impact points" to help manage and measure performance. To register, visit www.FloridaBankers.com. You may also contact Andrea Williams, FBA Professional Development Coordinator, at 850-701-3501 or awilliams@floridabankers.com.

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KUDOS

Rita Lowman Joins the Board of Encore Bank

T rustco Bank celebrates its 20th anniversary in Florida in March; the bank opened its first branch in Longwood on March 17, 2003 and established its local headquarters in Maitland in 2007. The bank has since moved its headquarters from Maitland to Longwood in 2015. The bank first opened for business in 1902 in Schenectady, New York. Bank Chairman, President, & CEO Robert J. McCormick said, “Since entering the Central Florida market, the communities that we serve have embraced our ‘Home Town’ approach to banking. Choosing to continue the bank’s de novo expansion in 2003 to Florida proved to be the right choice for our company and our many customers. We are proud to be celebrating this milestone here in this great state.” Upon its introduction to the Orlando area of central Florida, Trustco Bank immediately expanded to the gulf coast with branches in Venice, Sarasota, and Bradenton, among others. In 2012, Trustco expanded to the Florida east coast with its first branch in Juno Beach. Currently, the bank has 53 branch locations in the state. Eric Schreck serves as the executive vice president and Florida regional president of Trustco Bank. Encore Bank, which now has an office in Tampa. Lowman’s sterling career has seen her manage 23 acquisitions and serve as chair of the Florida Bankers Association in 2017, becoming just the third woman to lead that body in its 130-year history. She has also served on the American Bankers board of directors and as vice chair of that organization’s Government Relations Council and Community Council Board. According to a news release, Lowman serves or has served on a number of other boards, including the Florida School of Banking at the University of Florida, the Southeastern Cabinet of the American Cancer Society, the Greater Tampa Chamber of Commerce and the Florida Aquarium. In addition to Encore Bank, she also holds a seat at Caldwell Trust in Venice. F ormer Pilot Bank President Rita Lowman, a 45-year veteran of Florida’s banking industry, has joined the board of Little Rock, Ark.-based

“Encore Bank is delighted to welcome Rita to its Board of Directors,” Encore Bank Chairman and CEO Chris Roberts states in the release. “Her leadership and accomplishments have made her a star in the industry and a role model for women in banking. We are confident she will be an invaluable asset to Encore and look forward to her significant contribution to our board.” Rita Lowman

Encore Bank was founded in 2019 as a privately held, boutique bank with a commercial focus. It operates in 20 markets across eight states, and as of Dec. 31, 2022, it had $3.5 billion in total assets.

Trustco Bank Celebrates 20th Anniversary in Florida

He has been with Trustco Bank for over 30 years, where he directs operations for all Florida branch offices in the state. Schreck has extensive experience in sales and service initiatives, along with developing measurement standards to monitor branch performance. He holds a Management Science degree from Cortland College and an MBA in Finance from Rensselaer Polytechnic Institute. Today, Trustco Bank in Florida has $1 billion in both loans and deposits and currently employs 222 full time and 52 part time employees. The bank has received national recognition, including being ranked as one of the Top 25 Banks Nationally by Bank Director Magazine , Top 10 Best Banks in the Country by the ABA Banking Journal , and 4th Best Bank in the Country by US Banker . Eric Schreck

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KUDOS

Robbie’s Riders, Grampy’s Charities and Sanibel Captiva Community Bank Present Adaptive Tricycles to Special Needs Children

S anibel Captiva Community Bank and Grampy’s Charities, with support from Robbie’s Riders, presented six adaptive bicycles each worth $3,000 to $5,000 to Southwest Florida children at the bank’s Bridge Branch in Fort Myers. “These custom-made, adaptive bicycles give exceptional children a level of independence and autonomy,” said Jack Johannemann, director of Robbie’s Riders. “These bikes can change these children’s lives.” All the recipients were referred from Golisano Children’s Hospital, GiGi’s Playhouse and various therapy centers in Naples and are between the ages of 6 and 11 years old. When riding these bicycles, the children benefit from general strengthening, new proprioceptive sensory input, and improved reciprocal coordination of the legs. They can now participate in activities with their families and peers and enjoy the normal childhood experience of riding a bike. Robbie’s Riders provides special adaptive bicycles and tricycles to children with disabilities, according to their

individual capacities and needs. The charity works to donate special needs cycles as quickly as they can raise funds to purchase them. Grampy’s Charities raises funds and support for children’s organizations by partnering with comfort and research-based charities to make a difference in the lives of kids who need it most. An all-volunteer organization, they have donated more than $3 million to children’s charities over more than 25 years. Robbie’s Riders, Grampy’s Charities and Sanibel Captiva Community Bank presented six custom-made, adaptive bicycles to local children with special needs and their families.

Citizens Bank & Trust Recognized as Fastest Growing Community Bank in Tampa Bay

C itizens Bank & Trust was recognized in a recent Tampa Bay Business Journal article as the fastest growing community bank in Tampa Bay for 2022. The article, compiled from information featured in the Journal’s 2022-2023 Book of Lists publication, includes banking data gathered from the Federal Deposit Insurance Corporation (FDIC), and covers seven counties in the Greater Tampa Bay area. According to the article, Citizens Bank & Trust is the region’s fourth-largest community bank, and has more than tripled in size over the last decade.

“We are extremely honored for our growth to be recognized by the Tampa Bay Business Journal ,” said Greg Littleton, president and CEO of Citizens Bank & Trust. “As a community bank starting our 103rd year, we are thankful to our board of directors and team members who provide local decision-making and outstanding customer service, and who have also played a pivotal role in the overall growth of the bank.” Citizens Bank & Trust currently operates 13 offices in Polk County, with additional locations in Dade City, Valrico and Plant City.

SHARE YOUR BANK’S STORY! Send details and photos of community service activities, personnel announcements, new hires and promotions to submissions@floridabankers.com.

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