Florida Banking October/November 2025

THE MAGAZINE OF THE FLORIDA BANKERS ASSOCIATION WWW.FLORIDABANKERS.COM SEPTEMBER 2020 A Century of Community First National Bank of Mount Dora Marks 100 Years THE MTAHGEAMZIANGEAOZFINTEHOEF LTOHERIFDLAOBRIADNAKBEARNSKAESRSSOACSIASOTICOIANTION WWW.FLORIDABANKERS.COM SEPTEMBER 2020 WWW.FLORIDABANKERS.COM OCTOBER | NOVEMBER 2025

The Bankers Private Cloud® BankOnIT’s Bankers Private Cloud® is the nation’s most capable, comprehensive, and cost-effective network technology solution dedicated to banks. Banks are stronger when they work together, and today bankers across the nation are benefiting from being part of the BankOnIT community. We’re here to help your bank win.

Visit us at bankonitusa.com or ask us at solutions@bankonitusa.com or 800-498-8877, option 2 about how we can help your bank win.

bankonitusa.com

Florida First Captial Finance Corp 1/2 page ad

Compensation Experts Dedicated to Your Success

Is Your Board Compensation Competitive? For banks, attracting experienced, qualified, and engaged directors is essential to sustaining sound governance and long-term success. Our 2025 Director Compensation Survey is your

key to competitive board pay.

Download Your Free Sample

• 238 Bank Participants • Director Compensation Data & Trends • Data By Asset Size & Ownership

Independent Bank Compensation Consultants

blanchardc.com

OCTOBER | NOVEMBER 2025 VOLUME 40 | NUMBER 5 Editorial & Executive Offices 1001 Thomasville Road, Suite 201 Tallahassee, FL 32303 850-224-2265 www.floridabankers.com

ON THE COVER

8 First National Bank of Mount Dora A Century of Community

FNBMD Senior Vice President & Chief Lending Officer Bill Brooks; Executive Vice President & CFO Andrew Kurtz, President & CEO Bob White, Senior Vice President & COO Lori Ross, and President of Trust and Investments John Pease

Advertising & Production Offices NFR Communications, Inc. 250 Prairie Center Dr., Ste. 300 Eden Prairie, MN 55344 952-835-2275 www.nfrcom.com For advertising information, contact Erica Nelson Advertising Sales Executive 763-497-1778 Erica@NFRcom.com Statements of fact and opinion are made on the responsibility of the authors alone and do not imply an opinion or endorsement on the part of the officers or members of FBA. Florida Banking is published six times annually. Subscription price is $50 per year for nonmembers. Postmaster, send address changes to Florida Bankers Association, P.O. Box 1360, Tallahassee, FL 32302. Copyright 2025 Kathy Kraninger President and Chief Executive Officer kkraninger@floridabankers.com For reprints or single issues, contact 800-336-1120

Photos by Malcolm Yawn, Malcolm Yawn Photography.

CONTENTS

5 — President's Perspective Leading in a Time of Change

7 — Chair’s Message Turning Advocacy Into Action: Fighting Fraud at Every Level

12 Government Relations Florida’s 2026 Legislative Session: Arriving Sooner Than You Think 14 Trust & Wealth Management The Surge of Crypto ‘Wrench’ Crimes 16 BankPac: Shaping the Future of Florida Banking 19 Celebrating Our FBEF Donors

20 Bancserv Endorsed Partner: Vericast

How Banks Can Grow Big By Thinking Local 22 FBA School of Banking Recap 23 FBA Trust & Wealth Management School Recap 24 Personal Transactions 27 Kudos 30 Upcoming Events & Ad Index

Suellen Wilkins Director of Communications swilkins@floridabankers.com

Keith Costello Chair

Garrett Richter Chair-Elect

Derek Jones Immediate Past Chair

4 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

PRESIDENT'S PERSPECTIVE

LEADING IN A TIME OF CHANGE

BY KATHY KRANINGER, FBA PRESIDENT AND CEO

“The more things change the more they stay the same!” Despite the change my grandfather saw in his lifetime spanning the 20th century, this was one of his favorite sayings. I will never forget marveling at the latest gadget commercial on TV (yes, when we only had three channels and watched commercials!). While the innovation was interesting, he was focused on how people would use it and whether it would

Small businesses come to us for credit not because of a clever app, but because of the relationship they’ve built with a banker who knows their story and believes in their future. BankMiami opened its doors this year on this premise. And so many of you continue to operate with relationships as your focus. This is why leadership in times of change requires perspective. We adopt new technologies not because

make people’s lives easier in some way. He didn’t get lost in the sales pitch or the shiny newness of it all. Did that gadget bring real change for how people live? That question is just as relevant for us in banking today. Every week seems to bring new technology, new competitors and new regulatory pressures. Artificial intelligence is reshaping operations, digital platforms are transforming customer interactions, and

they are trendy, but because they allow us to better serve customers. We train and invest in our people because they are, and always will be, the foundation of our industry. As your association, our job is to help you navigate this time of rapid transformation while staying grounded in what matters most. That means keeping you informed on the latest regulatory and legislative developments, advocating

“BANKING HAS ALWAYS BEEN AND WILL REMAIN A PEOPLE BUSINESS.”

federal regulators are reconsidering rules that affect every corner of our business. With the passage of the GENIUS Act, bankers and policymakers are trying to understand what stablecoins and crypto more broadly mean for the future of financial services. It’s easy to get caught up in the noise — or, worse, be paralyzed by it. But at its core, banking has always been and will remain a people business. No matter how much changes, the fundamentals stay the same: trust, relationships and service to our communities. Customers and clients deposit their hard earned savings with local bankers because they trust us.

for fair competition across financial services, and providing education and tools to help your teams thrive. The FBA staff is here to support you — that means we need to hear from you as you have questions, concerns and interests — so please keep the communication a two-way street! My grandfather was right — things do change, sometimes at a dizzying pace. But the essence of what we do remains the same. As we lead through this era of disruption, let’s keep our eyes on that enduring truth: banking is, and always will be, about people helping people. Thank you for what you do every day!

WWW.FLORIDABANKERS.COM OCTOBER | NOVEMBER 2025 — 5

BANCSERV ENDORSED PARTNERS

Payments-related innovation, education, and advocacy to help community banks navigate the payments ecosystem. Client Relations, (800) 242-4770 payments@icba.org

Primary and Excess Insurance Solutions for Banks of All Sizes Patricia Williams, (800) 274-5222 pwilliams@abais.com

Provides FL banks access to competitive benefits while enjoying greater flexibility, reduced financial risk, & technology that eases administrative burden. Stephanie Boomgaarden, (407) 515-2467 sboomgaarden@selectsourceone.com

Provides community bankers with quality investment products, services and education at competitive prices through their exclusively endorsed broker Stifel.

Web-based platform, designed to streamline the marketing production process for banks of all sizes. Neal Reynolds, (678) 528-6688 nreynolds@bankmarketingcenter.com

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

A high-quality agent credit card program that will enhance the payment relationships of banks with their customers.

Karen Grahn, (205) 949-0302 kgrahn@servisfirstbank.com

Earn interest income effortlessly—buy fully amortizing, fixed-rate loans from top-tier borrowers without the cost or hassle of originations. Melissa Whelan, (315) 559-7641 melissa@bhg-inc.com

Supports financial institutions by providing core processing assessments, vendor evaluations, contract negotiation and conversion services. Keith Hagen, (850) 640-2244 keith.hagen@ici-consulting.com

The only nationwide independent, member-owned debit network, processor and core provider supporting community banks. Alex Jernigan, (229) 861-3802 jjernig@shazam.net

Hold core deposits, attract new customers, and increase share-of-wallet with a top-rated, cobranded HSA solution.

Develops custom sale-leaseback transactions for banks that improve branch networks for the short & long-term. Bill Yeomans, (315) 491-8651 byeomans@brooklinedevelopment.com

Adam Berry, (208) 724-0309 adam.berry@livelyme.com

Leading provider of bank security services and branch automation equipment in the southeast. Adam Stephens, (256) 957-8018 adams@stsgrp.com

Connects enterprise risk, compliance, vendor oversight, business continuity,

Offers a comprehensive suite of services including: Compliance Hub, Virtual Partners, and Tailored Solutions. (888) 353-3933 info@compliancealliance.com

and more, in one platform. Corey Polom, (413) 374-5467 corey.polom@ncontracts.com

Vericast helps banks grow relationships, boost deposits, and drive smarter marketing through data-powered,

customer-first solutions. Bill Lopez, (305) 609-2757 william.lopez@vericast.com

Assists with benefits administration and planning. Our BOLI expertise help banks offer enticing executive benefits tailored to financial institutions. Joe Schaefer, (786) 566-9423 joe.schaefer@nfp.com

Provides a full line of insurance products targeted specifically to meet the wide-ranging needs of financial institutions. Brandon Maggard, (502) 736-1298 bmaggard@fbains.com

Offers insurance solutions for the financial services industry, including a proprietary package policy that combines tailored property and liability coverages. Trey Martino, (203) 921-9089 t.martino@zurichna.com

Provides significant discounts on office and banking supplies, furniture, print and copy services, promotional products, break room provisions and more.

Offers CRA Education & Training, CRA Support Services, the CRA Collaborative Peer Group, and CRA qualified loans, investments and services. Kristine LaVigna, (901) 529-4781 kristine.lavigna@icba.org

Larry Reinker, (815) 479-9226 larry.reinker@odpbusiness.com

Created by the Florida Bankers Association, BancServ Inc., provides quality products and services at a discounted rate, saving Florida banks time & money. Annie Coldstream, Director of Strategic Partnerships I acoldstream@floridabankers.com

CHAIR’S MESSAGE

TURNING ADVOCACY INTO ACTION: FIGHTING FRAUD AT EVERY LEVEL

BY KEITH COSTELLO, FBA CHAIR

O ne of the greatest responsibilities we share as bankers is protecting the people and communities we serve from financial fraud. Fraudsters are constantly evolving their tactics, preying on vulnerable Floridians and threatening the trust that is the foundation of our profession. At the FBA, we are working every day to fight back — through education, advocacy and collaboration with lawmakers and regulators.

Rep. Kevin Steele and Sen. Jonathan Martin for their leadership on this important legislation. These achievements are the result of strong advocacy, but they also highlight the importance of participation. When we show up, we make an impact. Going into the upcoming Florida session, we are pushing for the creation of a state-wide financial crimes intelligence center so we can better fight the transnational

criminal organizations that fuel these scams. That’s why I encourage every member to attend the FBA’s Capitol Day + Capitol Night on January 28 in Tallahassee. This event provides a unique opportunity to meet directly with state leaders, share your perspectives as bankers and help shape policies that strengthen our industry and protect our customers. Many of our successes — including SB 106 — stem from

Earlier this month, our President & CEO Kathy Kraninger testified before the U.S. Senate Special Committee on Aging, bringing national attention to the scams consumers confront daily. In her testimony, Kathy highlighted the efforts of Florida bankers to protect customers while stressing that we cannot fight scammers alone. More needs to be done before the point of payment to stop criminals, and that is why FBA is advocating for a

“WHEN WE SHOW UP, WE MAKE AN IMPACT.”

national strategy involving telecoms, social media platforms and technology companies, in addition to coordination with law enforcement. We have seen progress in Florida. Gov. Ron DeSantis recently signed Senate Bill 106, an FBA-supported bill that provides new protections for vulnerable adults who are targeted by fraudsters. This statute authorizes courts to issue protective injunctions when fraudsters use untraceable communications and requires a 30-day freeze on suspect transactions once an injunction is issued. In practice, this means our industry has another tool to intervene before someone’s life savings are stolen. Our thanks go to

relationships built during events like this. Our ability to influence action in Tallahassee and Washington depends on the collective voice of our membership. The more engaged we are, the stronger our impact will be. Whether it is working to stop financial fraud, modernize banking regulations or ensure access to financial services, our advocacy is only as strong as the bankers who participate. Together, we can continue to protect Florida’s financial system, promote sound policies and preserve the trust our communities place in us. I look forward to seeing many of you in Tallahassee on January 28 as we carry this important work forward.

WWW.FLORIDABANKERS.COM OCTOBER | NOVEMBER 2025 — 7

A Century of Community First National Bank of Mount Dora Marks 100 Years

BY SUELLEN WILKINS, DIRECTOR OF MARKETING & COMMUNICATIONS

I n the heart of Lake County, where small-town charm meets steady growth, the First National Bank of Mount Dora has stood as a trusted financial partner for 100 years. Established in 1925 to serve the needs of a developing community, the bank has weathered economic cycles, embraced technological change, and remained unwavering in its commitment to personal service. As it marks its centennial in 2025, the leadership team reflects on the values that have guided the institution from the beginning — and the vision that will carry it forward into its second century. A Legacy Rooted in Community From the beginning, FNBMD was founded to serve the needs of local families and businesses. “It was a small town that wanted its own bank,” recalls Bob White, FNBMD President & CEO. The Simpson family, who helped establish the bank, still maintains representation on the board today, underscoring the generational ties that run deep. For White, the milestone of 100 years is more than longevity. “Every few years, people would predict the end of community banking — whether because of mergers, the Internet or AI,” he said. “But each time, it reinforced the value of what we do. At some point, customers want to talk to a person they know and Few moments define resilience more than national crises and FNBMD has weathered them all. During the Great Depression, the bank never closed its doors. The same was true during the peak of the COVID 19 pandemic. “Customers could come in and see us face to face,” said John Pease, President of Trust and Investments. “That accessibility sets us apart.” Senior Vice President & Chief Lending Officer Bill Brooks echoes that commitment. He recalls the Great Recession, when FNBMD did everything possible to keep families in their homes.“If someone was struggling, we worked with them. The only way you lost your home here was if you walked in and handed us the keys.” That same mindset carried into the pandemic’s PPP loan program. Brooks and his colleagues worked around the clock – sometimes starting at 5:30 a.m. and ending near midnight – to ensure every application was processed. “We were one of the first in the region to get into the SBA portal,” Brooks said. “Hearing trust. That’s where we matter.” Strength Through Change

from customers that we saved their business or their employees’ jobs — that was incredibly meaningful.” A Bank That Grew with Its Town FNBMD’s trust department, launched in the mid 1960s, has become a cornerstone of its success. “The trust now has over $1.1 billion in Assets Under Management,” Pease said. “It provided stability during tough years like 2009 and has become a major profit center.” What makes the trust department unique? Its local, hands-on approach. “We don’t outsource,” he said. “Our investment officers, operations and back office are all here in Mount Dora. Customers know us personally.” That personal touch extends to every relationship — whether managing a $40 million trust or helping an 18-year-old set up their first IRA. “Nothing’s too small or too big,” Pease emphasized.“We’ll sit down and help, because that’s what builds trust across generations.” Investing in People Although FNBMD hasn’t been family-owned, the bank’s culture is often described as family-like. Senior Vice President & Chief Operations Officer Lori Ross, who has been with the bank for more than 40 years, points to employee referrals as the strongest recruiting tool. “People want to work here because it feels like family. Decisions are made locally. You’re not just a number,” she said. The bank also invests heavily in its team, supporting professional development through programs like the Florida School of Banking.“We’ve gotten much better at developing from within,” said Executive Vice President & CFO Andrew Kurtz. “We try not to pigeonhole people but instead give them opportunities to grow into what they’re good at and passionate about.” Employee appreciation is woven into the culture. For the centennial, the bank hosted trivia nights, monthly giveaways and a downtown community celebration. “We want our team to feel valued, because when they can balance family and work, they give back even more,” Ross explained. Ross also recalled the “Storm of the Century” in the 1990s, when tornadoes ripped through Mount Dora. “The area lost power for days, but the bank never closed,” she said. “We ran manually, relied on generators and worked through it together. Customers needed us and we were there.” First National Bank of Mount Dora, Continued on page 10

8 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

WWW.FLORIDABANKERS.COM OCTOBER | NOVEMBER 2025 — 9

The FNBMD Team looks forward to continuing a proud tradition of service, trust and commitment to their community.

A Leadership Team Built on Longevity FNBMD’s leadership reflects the same stability it offers customers. White has been with the bank since 1990, while Brooks, Ross and Kurtz each bring decades of service. Pease, representing the fourth generation of his family at the bank, continues a long tradition of continuity. “Even though we’re not family-owned, we’re family run,” Kurtz said. “That consistency helps keep us grounded. Our management team’s skills complement each other and that makes us stronger.” Looking Ahead: Balancing Technology and Tradition As FNBMD prepares for its next century, the team is focused on blending modern convenience with personal service. “Customers expect to bank on their phones, but when the transaction adds another zero or two, they want to talk to someone they trust,” White explained. “It’s about finding that balance while keeping the soul of what we do.” Succession planning remains another priority. “We’ve been here 100 years because of customer service and the staff who deliver it,” Pease said. “To keep that going, we have to invest in our people and pass those values forward.”

A Century Celebrated This spirit of never closing — whether through natural disasters, economic downturns, or global pandemics — has become part of the bank’s DNA. Giving Back: A Heart for Service Beyond banking, FNBMD is deeply embedded in its community. Employees serve on boards of schools, hospitals and civic organizations. The bank has supported financial literacy programs, youth sports, scholarships and more. One of its most impactful partnerships has been with Habitat for Humanity. Over the past several years, FNBMD and its employees have helped fund and build four entire homes, participated in holiday playhouse builds for families and contributed to neighborhood revitalization efforts through Mount Dora’s CRA program. “It’s one of the most rewarding things we do,” Kurtz shared. “It’s not just writing checks — it’s rolling up our sleeves and making a visible difference.” The Trust Department also oversees a $30 million community trust fund, established in 1972 with an initial gift of $10,000. Today, it provides scholarships and resources to local charities. “It’s a lasting asset for Mount Dora,” Pease said. “And we’re proud to steward it.” First National Bank of Mount Dora, Continued from page 8 A centennial celebration is more than a milestone — it’s a thank you. On Sept. 10 in Donnelly Park, just blocks from the main branch, FNBMD hosted a community party to honor its customers and kick off the next 100 years. They also donated to local food banks, feeding 100 families for Thanksgiving and organized appreciation events for employees. “This anniversary isn’t just about us,” White reflected. “It’s about our customers, our employees and our community. They’ve allowed us to serve for 100 years, and we look forward to serving for the next 100.”

FNBMD's Andrew Kurtz, Bob White and John Pease, along with FBA's Director of Strategic partnerships Annie Coldstream and SVP of Membership Terry Hughes, enjoy the Centennial Celebration.

10 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

ROBERT WHITE, PRESIDENT & CEO

Bob White has 35 years of banking experience, all with FNBMD. He started with the bank as a management trainee in 1990 and served in a variety of roles, with an emphasis on lending. White serves as Board Chairman of the bank and its holding company, FNBMD Bancshares, Inc. White has been involved with a variety of community organizations including the Mount Dora Area Chamber of Commerce, Advent Health Waterman Hospital and Junior Achievement. He also has served on the FBA Board and is a current member of FBA’s Florida Bankers Educational Foundation Board .

JOHN PEASE, PRESIDENT OF TRUST AND INVESTMENTS

John Pease brings almost 30 years of dedicated experience to FNBMD, where he has developed a deep passion for helping clients navigate their financial journeys. As a fourth-generation banker at FNBMD, he has a strong understanding of customer service and is passionate about the bank’s success. Beyond his impressive career milestones in the Trust Department, Pease is known for his approachable demeanor and commitment to community involvement.

Andrew Kurtz graduated from the University of Central Florida with a degree in finance in 2006 and began his banking career at FNBMD that year as a commercial credit analyst. After progressing to Vice President and Commercial Loan Officer, he began transitioning to the finance and accounting side of the bank after the Great Recession. Kurtz serves on the Round Lake Charter School Board of Directors and is a past board member of the Mount Dora Area Chamber of Commerce, Visit Mount Dora, First Baptist Church of Umatilla, the Golden Triangle YMCA and the Florida Nursery Growers & Landscape Association. He is a 2009 graduate of the Florida School of Banking and serves as the school’s Associate Director. He is also a 2017 graduate of the ABA’s Stonier Graduate School of Banking at the University of Pennsylvania’s Wharton School. ANDREW KURTZ, EXECUTIVE VICE PRESIDENT & CHIEF FINANCIAL OFFICER

LORI ROSS, SENIOR VICE PRESIDENT & CHIEF OPERATIONS OFFICER

With more than four decades of distinguished service at FNBMD, Lori Ross serves as Senior Vice President and Chief Operations Officer, bringing 44 years of proven leadership and operational excellence to the bank. Ross oversees enterprise-wide operations, ensuring the seamless integration of business strategy, risk management and client service. Known for fostering high-performance teams and driving sustainable growth, she has been instrumental in strengthening organizational resilience while maintaining a culture of integrity and innovation. Beyond her executive responsibilities, Ross is committed to mentoring the next generation of banking professionals and

contributing to FNBMD’s long-term health.

Bill Brooks has been with FNBMD for over 28 years. He serves as a Senior Vice President and Chief Lending Officer and is a member of the executive management team. Brooks graduated from Florida State University with a bachelor’s degree in finance. He is also a graduate of the Florida School of Banking and Stonier Graduate School of Banking. Brooks serves on the boards of the Lake County Golden Triangle Rotary Club and the Mount Dora Community Trust’s Distribution Committee. BILL BROOKS, SENIOR VICE PRESIDENT & CHIEF LENDING OFFICER

WWW.FLORIDABANKERS.COM OCTOBER | NOVEMBER 2025 — 11

GOVERNMENT RELATIONS

FLORIDA’S 2026 LEGISLATIVE SESSION: ARRIVING SOONER THAN YOU THINK

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

F lorida’s 2026 Legislative Session will start Jan. 13, and it will be fast and furious for the 60 days that follow. We’re expecting a flurry of activity as many members of the Florida House and Senate will be looking forward to their elections, and it is Gov. DeSantis’ last Regular Session before his term ends. Some of the Governor’s agenda is beginning to take shape around redistricting, vaccine mandates and the end of property taxes, among other issues. We are also formulating the FBA’s legislative agenda. Much of our agenda will be focused on ways to combat fraud that is plaguing our industry and our customers. We’re currently discussing legislation around cryptocurrency kiosks with various stakeholders. We’re also working with the Florida Attorney General on creating a statewide Financial Crimes Intelligence Center (FCIC) that coordinates law enforcement resources to investigate and prosecute financial crimes, especially fraud and scams targeting vulnerable Floridians. We will also work on legislation to keep the IOTA program sustainable. We expect to be involved with continued condominium legislation to especially fix a property insurance loophole that was created in last Session’s legislation. As always, unforeseen issues will emerge and we must be prepared to respond accordingly. We are seeking your input on our legislative agenda. Please send us any legislative proposals so we may examine and discuss them. We need to hear from you about what is most important and concerning. Answering the FBA’s Calls to Action is important as well. Calling your legislator’s office to ask them to support or oppose legislation is vital during Session. Tallahassee is a long way away from many of the home districts. Calling them shows their voters are paying attention and will hold them accountable, even from afar. Stay tuned to learn more about the FBA’s legislative proposals, and when to answer our Calls to Action as the year progresses.

Please join us Jan. 28 for Capitol Day + Capitol Night! The day is a great way to tell our industry’s story to members of the Florida House and Senate. Many thanks to our event sponsors — ICBA, FNBB and STS Group. Visit www.floridabankers.com and register today! BANKERS AT THE CAPITOL: BE PART OF THE STORY

12 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

RE G ISTRATION IS OPEN !

FBA’s 52 Annual Capitol Day + Capitol Night nd

January 28, 2026 Florida Capitol, Tallahassee

ʽ˂ʼˁ ˈˆ

ˀ˔˥˞ ˬˢ˨˥ ˖˔˟˘ˡ˗˔˥ ˙ˢ˥ ˢˡ˘ ˢ˙ ˧˛˘ ˠˢ˦˧ ˜ˠˣˢ˥˧˔ˡ˧ ˔˗˩ˢ˖˔˖ˬ ˘˩˘ˡ˧˦ ˢ˙ ˧˛˘ ˬ˘˔˥ʔ ʽˢ˜ˡ ˨˦ ˜ˡ ˇ˔˟˟˔˛˔˦˦˘˘ ˗˨˥˜ˡ˚ ˧˛˘ ʥʣʥʩ ʿ˘˚˜˦˟˔˧˜˩˘ ˆ˘˦˦˜ˢˡ ˙ˢ˥ ˔ ˗˔ˬ ˔˧ ˧˛˘ ʶ˔ˣ˜˧ˢ˟ ˧ˢ ˗˜˦˖˨˦˦ ˞˘ˬ ˕˔ˡ˞˜ˡ˚ ˔ˡ˗ ˘˖ˢˡˢˠ˜˖ ˜˦˦˨˘˦ ˪˜˧˛ ʹ˟ˢ˥˜˗˔ ˟˘˚˜˦˟˔˧ˢ˥˦ʡ ˇ˛˘ ˘˩˘ˡ˧ ˖ˢˡ˖˟˨˗˘˦ ˪˜˧˛ ʶ˔ˣ˜˧ˢ˟ ˁ˜˚˛˧ʟ ˔ ˗˜ˡˡ˘˥ ˔˧ ʺˢˢ˗˪ˢˢ˗ ˀ˨˦˘˨ˠ ʙ ʺ˔˥˗˘ˡ˦ʡ

˅˘˚˜˦˧˘˥ ˢˡ˟˜ˡ˘ʭ

˙˟ˢ˥˜˗˔˕˔ˡ˞˘˥˦ʡ˖ˢˠ

ʶˢˡ˧˔˖˧ ʶ˛˘˥ˬ˟ ˇ˨˖˞˘˥ʭ

ʛlzʨʣʜ lsʣʤʠʦʨʣlz ˢ˥

˖˧˨˖˞˘˥ʳ˙˟ˢ˥˜˗˔˕˔ˡ˞˘˥˦ʡ˖ˢˠ

TRUST & WEALTH MANAGEMENT

THE SURGE OF CRYPTO ‘WRENCH’ CRIMES

BY MARK PARTHEMER, AEP, ACTEC FELLOW, GLENMEDE TRUST COMPANY

I magine you’re a crypto investor and one evening, while sitting peacefully in your house in the suburbs, three masked men burst into your home, zip-tie your family, and brandish a cordless power drill — demanding your Bitcoin password. There’s just one problem for them. You’ve done everything right: cold wallets, two-factor authentication, no keys stored online. In fact, because you’ve set up multi-signature wallets across three continents, you literally can’t give them access. You try to explain this. They try to understand seed phrases and time-locked wallets while waving around a drill like it’s a universal decryption device. Frustrated and confused, they flee the scene empty handed – and crash their car, leading police right to them. Thankfully, no one was seriously hurt. But this isn’t fiction – this happened. And it’s part of a disturbing trend: when cybercrime fails, criminals are turning to Cybersecurity is the practice of protecting computer systems, networks, devices and data from theft, damage, unauthorized access or other forms of cyberattacks. It encompasses a wide range of technologies, processes and practices designed to safeguard digital information and ensure the confidentiality, integrity, and availability of data. Basically, it protects against digital attacks. Experts often refer to the following as the three biggest cybersecurity threats. They are prevalent because they work. 1.Ransomware – malware that encrypts a victim’s files or systems, making them inaccessible, and demands a ransom payment for their release. 2.Phishing, Smishing and Social Engineering – target individuals with deceptive emails or messages. old-fashioned crime tactics. Cybersecurity Threats

3.Data Breaches and Identity Theft – even more concerning due to AI voice copycat capabilities. When speaking on this topic, I often infuse numerous “Dad” jokes. I didn’t include any in this column as they really are not funny (you’re welcome). However, humor is often used to talk about serious subjects - it can emphasize irony, serve as a coping mechanism, or even serve to bond us to others. While my Dad jokes are meant to be harmless, it’s important to remember that cybersecurity is a serious and important topic – indeed, it is no laughing matter. Enhanced Interrogation Finds Bitcoin The newest form of cybersecurity threat is kidnapping and torture. The following six examples demonstrate an escalation of violence in attempts to steal cryptocurrencies and digital assets. The enhanced violence has led to them being labeled “wrench” attacks. In fact, it’s a term popularized by an online comic who jokingly illustrates how easily high-tech security can be defeated by physical force, violence or intimidation. These attacks exploit human vulnerability rather than technical weaknesses, bypassing even the most sophisticated security measures used for cryptocurrency storage. 1. Are You Smarter Than These Would-Be Kidnappers? In Manchester, UK (2022), two masked men broke into a crypto trader’s home demanding he transfer Bitcoin. Unfortunately for them: • The trader had no access to the private keys on site. • He offered them tea to “talk things out” while stalling. • Meanwhile, his smart home security notified the police, who arrived and arrested them before any crypto was transferred. 2. The Airport Abduction That Never Got Off the Ground in Ukraine (2021). An alleged crypto

14 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

3. Why This Is Happening : because crypto is the perfect target. It is: • Anonymous and non-reversible transfers • No middlemen or clawbacks. • Large sums can be moved instantly. • Victims often have no recourse — and criminals know it. •Social media oversharing reveals wealth and location. 4. Vulnerability Factors include the who and the what: Who’s at risk? High-risk behaviors include public crypto holdings or NFT collections, visible wealth (cars, travel, social media) and speaking at crypto events. What’s risky business? Client vulnerability factors include using cold wallets at home, a single point of failure (e.g., spouse knows passphrase) and a lack of family/staff training. 5. Implications for Advisors include client advisory. Think about where the keys are stored and who has access. Also, consider whether kidnapping and ransom insurance should be acquired. 6. Risk Mitigation Strategies begin with strong security practices, such as: • Don’t store seed phrases at home — use vaults or custodians. • Split access among trusted parties or jurisdictions. • Use duress wallets (a duress wallet is one seeded with a small amount of value that can be “given up” when under duress). • Restrict access via time-locked wallets. • Reduce public exposure of wealth. • Train household members and staff on response plans. Crypto Is Secure. People Aren’t. Our clients with digital wealth indeed may have excellent cyber hygiene — but still be physically vulnerable. We can be part of the solution in client education, risk design and asset protection. Helping our clients protect their digital assets and physical well-being is more critical than ever and underscores the importance of vigilance, continuous learning and proactive measures in safeguarding our information. For example, last week I had a problem at the grocery store. No matter how hard I tried, I couldn’t get my cart to go down the canned meat aisle. Turned out my SPAM filter was on.

millionaire was lured into a fake business meeting near the Kyiv airport, where kidnappers attempted to bundle him into a van. But… •He screamed loud enough to attract airport police within 30 seconds. •The kidnappers, stunned by the swift law enforcement response, abandoned their van and ran … through an active airport parking lot. • I guess they forgot that airports are full of police and cameras. • You could say that their escape route was, um, terminal (sorry). 3. Ouch, That Hurts! In Europe (April 2025), a 60-year-old was abducted by several men in ski masks who forced him into a van in broad daylight, then used a tiny guillotine to cut off his finger to send to his son (a wealthy owner of a crypto marketing company). After two days of captivity, he was rescued via a police raid. 4. Similar Criminal M.O. In fact, police thought the same gang of criminals might have struck in January 2025, when they abducted David Balland, co-founder of Ledger, and his partner. Taken from their home in central France, David’s finger was mutilated but he suffered no further injury as he was rescued by a police raid. His partner was found in the trunk of a car in a different location. 5. What Is That Smell? In December 2024, a crypto influencer’s father, his wife and daughter were abducted in eastern France. The wife and daughter were released. The father was later found in the trunk of a car, tied up and soaked in gasoline. 6. Wrench Attacks Not Just Overseas. Since 2023, there has been a surge in home invasions targeting crypto founders throughout the U.S. In May 2025 in New York City, a falling out between two colleagues led to a three-week stay in a $75,000/month condo in Manhattan. But for Michael Valentino Teofrasto Carturan, it was anything but luxurious. He was subjected to torture and humiliation by his captors, who sought his Bitcoin password. Their unsuccessful torture tactics included dangling him from a fifth story balcony, tying him with electrical cords and then whipping him with a gun, and placing his feet in water and then tasing him. What Can We Do? How should advisors respond to these shocking events? Educate our clients on the following points: 1. This Is a New Threat Landscape because cybercrime has left the screen as ransomware, phishing and SIM-swapping have now evolved into physical threats. Victims are being kidnapped and physically threatened to get them to divulge their private keys, seed phrases or passwords. 2. Real-World Cases are Increasing and the addition of crypto and coercion equals a crisis to be taken seriously.

The author takes sole responsibility for the views expressed herein and these views do not necessarily reflect the views of the author’s employer or any other organization, group or individual.

WWW.FLORIDABANKERS.COM OCTOBER | NOVEMBER 2025 — 15

BANKPAC: SHAPING THE FUTURE OF FLORIDA BANKING

We extend our sincere gratitude to these bankers and industry partners who have contributed to BankPac in 2025. Contributions received between Jan. 1 and Sept. 18 total $221,808! Your support strengthens our collective voice in Tallahassee and Washington, ensuring the interests of Florida’s banking industry are heard and represented. Together, we’re making a meaningful impact for the future of our profession.

Kim S. Nyberg Matthew A. Overmyer Patrick J. Philbin Audra Ramsay

Greg Littleton Robert A. Loftin

Adelphi Trust

Katie Pemble

Anchor Bank

Vaughn H. McAshan Stephen McCullough William G. Middleton Bonnie B. Parker Richard J. Sudol Jinx Wilson Chaney

Nelson Hinojosa

Anthem Bank Rodger Shay Banesco USA Bank of Belle Glade Stephen Prielozny BankFlorida

Geoffrey W. Roepstorff Robbie B. Roepstorff Richard H. Shera, Jr. Florida Gulf Coast University Shelton Weeks First Bank, Clewiston Mary Hilliard Carroll Andrew Couse Miller Couse Earle E. Edwards, III Andrew J. Higginbotham Karl E. Larsen Tommy Perry Carey Soud Tuesday Tritt Jaime Weisinger First Colony Bank of Florida Ralph A. Betancourt Robert Godwin Edward E. Haddock, Jr. Bruce W. May Donald W. McIntosh, Jr. First Federal Bank Robert Hughes Jeff Oody First Foundation Bank Garrett Richter First Horizon Bank Melisa Ainley First National Bank Coastal Community Nicole Jones Shaun E. Williams First National Bankers Bank Domingo Sanchez Thomas J. Sheehan Mark W. Ziebarth

Citizens First Bank City National Bank of Florida McHenry Kane Colony Bank Commerce Bank & Trust Eric Ravndal Community Bank Fred Leopold Linnette Wolfgram Justin Woodard Community Bank of the South Harold T. Bistline Stephen D. Crisafulli Kevin P. Markey Kevin B. Steele William T. Taylor Carlos K. Woodward Crews Bank & Trust

Zach Maggard Pamela Mattox

Barwick Bank BayFirst Bank Busey Bank Cadence Bank

Lourdes Mendes

Caldwell Trust Capital City Bank Group Thomas A. Barron Stanley W. Connally, Jr.

Bonnie J. Davenport J. Kimbrough Davis William G. Smith, Jr. John J. Wahlen

Central Bank

Scott Amatuccio David Edgar Scott Kohler Arvind Patel Dinubhai Patel Jayesh D. Patel Jayesh K. Patel Jiten Patel Mahendra Patel

Dena A. Crews J.W. Crews, IV

James W. Crews, Jr. Matthew A. Crews Patrick M. Crews W. Mark Crews Keelin C. Stauffer Laura Snyder Cypress Bank & Trust Edison National Bank John P. Ammons, II Crowe LLP

Nilesh Patel Rajesh Patel Shilen Patel Vijay Patel Anand Sabapathy John Thompson Century Bank of Florida Gabriel Vivero CFT, International Connie Laguna Citizens Bank & Trust Brian Bracey

Elizabeth C. Aurensan Greg J. Blurton Karen M. Brazelton Beth Countryman Lenor Cross Christina M. DePari David M. Duvall Michael A. Greenhoe

Chris Alexander Charlie Brinkley Robert L. Trott First State Bank of the Florida Keys Lori J. Bailey Frank V. Bervaldi

Lisa A. Hobson June A. Howard David B. Lowden Susan Nasworthy

Steven E. Crisman Marianne F. George Cindy Henry Sherry B. Kelley

Gary L. Carney Christine Carr Luis E. Cobo

16 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

Chuck Colwill Todd Cordell Kalynn Craven Stephanie Dahl Jennifer Denney Brett Divers Tim Donaldson Renee Ervin Michael Eubanks Pat Fain Preston Farrior Dave Feeman Jim Ferman John Fillingim Angelina Garcia Angela Gardner Scott Gault Lauren Gibson Donovan Glaister Cathy Harris Gary Harrod Leslie Harst Erin Hesbeens Oscar Horton Wesley Joyner Kyle Keith Bill Kent Malorie Kent Aenoi Kounlavong Mike Krieg Mallory Kuba Jeni La Paglia Owen LaFave Charlton Laird Rob Lane Alison LaPoint Tom Lee Toby Lincoln Jonathan Locklear Rick Lott Tim Mann Joe Marshburn Cristina Martinez Si McAninch Terry McFatter

Mainstreet Community Bank of Florida

Markus E. Jakobson T. Mark Jones Thomas F. Lackey Ana L. Madruga Lori E. Menendez Randy W. Moore Michael S. Morrow Robert Murrell Anthony Pappion Jack Spottswood

W. Ben Flowers, Jr. Randall J. Marshall

Renee Rogers Paul Rountree Mauldin & Jenkins, LLC Dianne Kopczynski Nelson Mullins LLP Robert Klingler New Edge Associates Yesenia Moreno NFP Executive Benefits Joseph Schaefer Ocean Bank One Florida Bank PNC Bank, NA Cressman Bronson Prime Meridian Bank Montè Ward Qualtik Alex Orlando Raymond James Bank Cameron O’Connell Renasant Bank Raj Adhikari Retriever Payment Systems Renee Krieger Saltmarsh Kristen Stogniew Sanibel Captiva Community Bank

John M. Spottswood, III Robert A. Spottswood William B. Spottswood, Sr.

Jennifer Waddell Angie Walterson Michael Zwerner

FirstBank Florida Flagship Bank Ken Bailey David Brandon

Anthony DiTinno Ronald Hockman David Key Mark Klein Ken Marks Robert McGivney Theresa Moss Joseph Oliveri Nick Patel Joan Amy Perdek

David Rhodes Brent Sembler Christopher Sprowls Paul J. Wikle Florida Bankers Association Anthony DiMarco David Garner Terry Hughes Kathy Kraninger Great North Bank Moyle Fritz Tracy Keegan Grove Bank & Trust Gulf Coast Business Bank Gulfside Bank Tim Clarke Jennifer Compton

Seacoast Bank ServisFirst Bank Shazam Patrick Dix Smith, Mackinnon, P.A. Jack P. Greeley Sunstate Bank Yvonne Debesa Lloyd DeVaux David A. Lieberman

Surety Bank

Ryan James Synovus Financial Corporation Sarah Butcher The Bank of Tampa Tammy Amburgey Ed Armstrong Antonio Azorin Cecile Bare

Susan Miller Judy Mitchell Sebastian Mrowczynski Charlie Murphy Corey Neil David Newberry Tom Oliver Dotti Overton Edna Owens Shaun Parrella

P. Compton Cramer N. Rogan Donelly

Robert A. Gates Teri A. Hansen

Suzy Bateman Doug Bishop Edward Teddy Bixby Bob Blanchard Bryan Bourdeaux

Frank John Lacivita Dennis B. Murphy Sam D. Norton Michael R. Pender, Jr. Charles W. Rush Drayton A. Saunders Jeff Saunders

Matthew Boyd Jonathan Browy Jon Bui Mitch Burley Matthew Buzza Lisa Carlton Melissa Carner Greg Celestian Ken Cherven Aric Chevtaikin Cathy Collins

Sarah Peet Zane Petty Kris Phillips Lee Pierson

Intracoastal Bank JPMorgan Chase Michael Bennett Keynote Speaker Aron Ralston Locality Bank Keith Costello Madison County Community Bank

Stacey Pittman Mark Poppell Susanne Powers Roger Rivard Carly Ross Joe Salamone

WWW.FLORIDABANKERS.COM OCTOBER | NOVEMBER 2025 — 17

Edyta Votour Chad Wammock Pamela Warnock Ashley Watters Bill West Paul Whiting Polly Wiggins Blake Williams

United Southern Bank Kasey Hobbs Connie Nelson Gregory L. Nelson U.S. Bank U.S. Century Bank Luis de la Aguilera Valley Bank Jeff Armstrong Vista Bank Waterfall Bank Wells Fargo Bank, N.A. Derek Jones Winter Park National Bank Sid Cash

Barbara Scott Jim Scott Reade Sevigny Anne Shaughnessy Donald Stine James Stock John Stump Simon Sumner Debbie Swezey Frank Territo James Tollerton John Touchton Darrell Turner Billie Valloreo Debbie Viveiros

Dave Zillig Ryan Zsiga United Bank United Community Bank, Inc. Pamela Griffin United Data Technologies Mike Sanchez

ALL IN FOR ADVOCACY THANK YOU FOR YOUR FULL BOARD SUPPORT!

Central Bank Community Bank of the South First Bank, Clewiston

Contact Cheryl Tucker, ctucker@floridabankers.com, when your institution achieves 100 percent board member BankPac contributions.

18 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

The Florida Bankers Educational Foundation (FBEF) extends heartfelt thanks to our donors through Aug. 20, 2025, in support of the 2025-26 fiscal year.* Your generosity provides scholarships, fuels professional growth and builds a stronger future for our industry. Join us in making an impact Every gift advances our mission — and there’s always room to grow. If you haven’t contributed yet, we invite you to join this community of supporters. Together, we’re investing in education, advancing careers and shaping the future of Florida banking. CELEBRATING OUR FBEF DONORS

Amerant Bank, N.A . Jerry Plush Anchor Bank Nelson Hinojosa Anthem Bank Rodger D. Shay, Jr. Axiom Bank Ross Breunig Banesco USA Calixto Garcia-Velez BankFlorida James S. Stalnaker, Jr. Barwick Bank James J. Bange Busey Bank Sean Gallagher Caldwell Trust Company Kelly Caldwell, Jr. Capital City Wealth William L. Moor, Jr. Century Bank of Florida Jose Vivero Citizens Bank & Trust Greg Littleton City National Bank of Florida Jorge Gonzalez Community Bank Fred Leopold Crews Bank & Trust James W. Crews, Jr. Cypress Bank & Trust Dana Kilborne First Horizon Bank Mario Trueba

First National Bank Coastal Community Shaun E. Williams The First National Bank of Mount Dora Robert D. White First State Bank of the Florida Keys Gary Carney FirstBank Florida Jose Maria Lacasa Flagship Bank David B. Key Florida Bankers Association Kathy Kraninger Florida Capital Bank Keith Perry Grove Bank & Trust Jose E. Cueto Gulf Coast Business Bank Bill Blevins Gulfside Bank Dennis B. Murphy Intercredit Bank N.A., Mario Oliva Intracoastal Bank Ryan Page Locality Bank Keith Costello Madison County Community Bank Edward Meggs Mainstreet Community Bank of Florida W. Ben Flowers One Florida Bank Frederick G. Pullum Popular Bank Israel Velasco

Raymond James Bank

N.A., Amanda Stevens Sanibel Captiva Community Bank Kyle D. DeCicco Sunstate Bank Lloyd DeVaux Surety Bank Ryan G. James TCM Bank, NA Jacob Eisen Terrabank, N.A. Antonio Uribe Trustmark National Bank John D. Sumrall U.S. Century Bank Luis de la Aguilera United Southern Bank Greg L. Nelson Valley Bank Jeffery W. Klink *Company and contact names are listed as they were at the time the donation was made. The FBEF is a 501(c)(3) non-profit corporation registered with the Florida Department of Agriculture & Consumer Services, Registration #CH7621. Contributions to the FBEF are tax-deductible. Organized in 1956, the FBEF continues to help bankers throughout Florida. If you are interested in making a tax-deductible contribution to the FBEF, contact Letty Newton at 850-701-3522, lnewton@floridabankers.com, or PO Box 1360, Tallahassee, FL 32302-1360. For information about applying for FBEF funding, please go to www.floridabankers.com/FBEF. A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE 800-435-7352 WITHIN THE STATE. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL OR RECOMMENDATION BY THE STATE. www.FloridaConsumerHelp.com

WWW.FLORIDABANKERS.COM OCTOBER | NOVEMBER 2025 — 19

BANCSERV ENDORSED PARTNER: VERICAST

HOW BANKS CAN GROW BIG BY THINKING LOCAL BY LISA NICHOLAS, SENIOR VICE PRESIDENT OF PRODUCT AND STRATEGY, VERICAST

F or years, smaller and mid-sized financial institutions have been given the same message: Raise your digital game, get bigger and try to compete nationally. That’s long been the mantra for banks that want to compete both with digital-first fintechs and deep-pocketed nationwide banks. But what if the better advice is to go in the opposite direction? Here’s the state of play: Community-based banks are squeezed from both sides – the scale and spend of the megabanks on one, the speed and UX acumen of fintechs on the other. Even some large institutions are scrambling to keep up, launching their own “in-house development mega-centers to fend off maturing fintechs,” McKinsey & Co. reports. As for smaller institutions, EY suggests they should aim to double their market share by “embracing the digital marketplace infrastructure model” and leaning into their trusted customer relationships. But the team at Vericast wondered if there was a different way. We started by analyzing search engine behavior, aiming to understand how financial institutions could improve their digital marketing. What emerged from the data was something bigger: a pattern of regional nuance that challenges the idea of “the American consumer” as a uniform group. Just as consumers in Ireland shop differently than those in Greece, people in New Jersey search for financial products very differently than people in Texas. And the phenomenon proved even more granular than that: The search terms used in, for example, an urban zip code could vary greatly with a next-door suburb. What we discovered reframes how banks should think about growth. Instead of chasing scale for its own sake, many institutions could grow more effectively by thinking hyper-locally — and marketing accordingly.

Our search-data analysis led to the creation of a new Consumer Demand Index – a resource to capture and activate local-market interest data and insights. The project also gave rise to a practical framework for rethinking digital financial services marketing, starting with why hyper-local matters, and advancing to what the data reveals and how to act on it. The Why At first glance, it seems logical for financial institutions to take a national approach to marketing. After all, Google controls more than 87% of search and, when combined with Bing, Yahoo and DuckDuckGo, the top four search engines account for 99.5% of all search. But we found that by zooming in, more opportunities revealed themselves. By analyzing search behavior, we developed a scoring model that could estimate opportunity size by product, zip code, and even specific product features — such as whether consumers are more drawn to low interest rates or rewards. What if you could have thousands of campaigns instead of just a few? Search data can reveal which cities or states are generating search activity for which specific products, where your products are winning and where you are losing market share — invaluable insights for deciding where and how to allocate your marketing budget. The What Silver Spring and Baltimore are only 32 miles apart, but when it comes to how residents search for financial products these Maryland towns are worlds apart. Building the Consumer Demand Index, Vericast found dramatic differences in behavior, even between neighboring communities. By reverse-engineering search patterns across products like checking accounts, credit cards, mortgages and financial planning, we uncovered how deeply local these behaviors are.

20 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING