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August 3, 2022

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District Court Affirms Credit Union Bank Acquisition Application Denial

The District Court of Lancaster County dealt another blow to an out-of-state credit union's plan to purchase a tax-paying Nebraska bank. Nebraska District Court Judge Ryan Post affirmed the Nebraska Department of Banking and Finance's (NDBF) 2021 denial of the application filed by Premier Bank, wherein GreenState Credit Union would have acquired the bank's entire operation.

Last summer, GreenState Credit Union (formerly the University of Iowa Credit Union) announced plans to purchase Premier Bank, with locations in Omaha and Nebraska City. Premier Bank initially argued that its application should be approved under the cross-industry merger/acquisition statute, or the Nebraska "wild-card" statute. The NDBF denied the application. On appeal, Judge Post agreed with the NDBF, stating that the "wild-card" statute does not grant Premier Bank the authority to sell substantially all of its assets to a credit union, which would result in the bank going out of business.

The NBA's legal team (Bob Hallstrom, Jerry Stilmock and Ryan McIntosh), together with the Attorney General's office, representing the NDBF, presented oral arguments on the matter in early May 2022. Premier Bank may appeal the decision to the Nebraska Court of Appeals.

The NBA team will continue to aggressively work to level the playing field between tax-subsidized credit unions and Nebraska banks.

NBA Comments on FCA's Proposed Rule

Today the NBA submitted a letter commenting on the Farm Credit Administration's (FCA) proposed rule to require Farm Credit institutions to adopt strategic plans for their Young, Beginning and Small (YBS) farmer and rancher lending programs. The proposed rule would also reform how these institutions track their lending to YBS farmers and ranchers.

In the letter, NBA President and CEO Richard Baier encouraged the FCA to be more transparent regarding the YBS farmer and rancher lending programs. "The Farm Credit Act of 1971, as amended, requires each Farm Credit Association to establish a program to 'furnish sound and constructive credit' to YBS farmers and ranchers. Over the years, it has become apparent that Farm Credit has fallen far short of fulfilling their mission in this regard."

Read the Letter

Legislative, Policy & Regulatory Updates

Legislation Would Expand Durbin Routing Rules to Credit Cards

Sens. Dick Durbin (D-Ill.) and Roger Marshall (R-Kan.) introduced legislation last week that would require credit card issuers to add a second network to customers' cards. However, unlike rules for debit card transactions, the new legislation would require banks to choose from options set by the Fed.

In a statement, nine financial trade groups said the new mandates would disproportionately affect small card issuers like community banks. "Consumers will pay the price, while many small issuers will be forced to exit the credit card business altogether," the groups said.

The NBA has been in contact with Nebraska Sens. Fischer and Sasse and will continue to advocate for banks that participate in the credit card market.

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SBA Begins Accepting PPP Borrowers’ Requests for Loan Reviews

The Small Business Administration (SBA) has begun accepting requests from Paycheck Protection Program (PPP) borrowers for the SBA to conduct a review of a lender’s forgiveness decision when the lender provided partial forgiveness of the PPP loan. Requests can be submitted through the PPP lender.

Agencies Propose Updates to Statement on CRE Loan Accommodations

The Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration released an updated policy statement on prudent commercial real estate loan (CRE) accommodations and workouts.


The proposed statement includes a new section on short-term loan accommodations, information about changes in accounting principles since 2009, and revisions and additions to examples of CRE loan workouts. 

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Groups Say Data Aggregators Should Be Subject to CFPB Examination

Eight financial trade associations sent a petition to the Consumer Financial Protection Bureau (CFPB) urging rulemaking to ensure “larger participants” in the data aggregation services market are subject to the same oversight as financial institutions. 

Read the Petition

ABA Opposes Overdraft Bill, Credit Report Bill 

The American Bankers Association (ABA) sent a letter to House Financial Service Committee members to oppose two bills that would rewrite federal rules on overdraft fees and the use of credit information in determining mortgage loan eligibility. The Overdraft Protection Act (H.R. 4277) would restrict the ability of banks and other financial institutions to collect overdraft fees and mandate disclosure about their fee policies. 


The Expanding Access to Credit through Consumer-Permissioned Data Act (H.R. 8485) would require lenders to consider additional, alternative information not typically considered when evaluating a borrower for a mortgage, and not typically found in credit reports. 

Read the Letter

Ford Applies for ILC Charter

Ford Motor Co. has applied to the FDIC for an industrial loan company charter (ILC). The application is the first from a major non-fintech under the Biden administration.

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Upcoming Events

To see the complete event schedule, visit the NBA Event Calendar.

Banks & Bankers

July 27 - August 2

Email your news, press releases, photos and/or newspaper articles to be published in Banks & Bankers. Send content to [email protected].

Meet A Banker

When NBA Leadership Class of 2024 member Stephanie Mencl was looking for income to help pay for gas in high school, she followed her business teacher's advice and found a job as a teller at First State Bank Nebraska. As she says, "the rest is history."

Now as chief operations officer, Stephanie has been in banking for over half of her life! She said, "I grew to love the complexity of the industry and how everything worked." She believes that effective leadership results in employees' growth in knowledge and confidence.

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Follow the NBA on social media to meet more Nebraska bankers.

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Intern Spotlight

Our next intern spotlight is James Wetovick! He is a senior agribusiness major at the University of Nebraska-Lincoln and graduated from Fullerton High School. James is interning at Cornerstone Bank in Albion and York.


Throughout his internship, James has gained a better understanding of what the different departments in a bank do each day. His experience has increased his interest in ag lending. He said, “An internship is a good way to become more knowledgeable about a career path and how well you will like it."

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Order NBA Products for Your Customers!

Scenes of Nebraska Calendars

The "Early Bird" ordering deadline for the 2023 Scenes of Nebraska Calendar is this Saturday, Aug. 6. Make sure to place your order by this date to have it shipped by Oct. 1. The final ordering deadline for calendars is Sept. 3. Orders placed between Aug. 7 and Sept. 3 will ship by the end of Oct.

Order Calendars

Husker Harvest Days

The NBA has Husker Harvest Days admission and lunch tickets available at a discounted rate. The order deadline for tickets is Aug. 31.

Order Tickets

We will also have a booth at Husker Harvest Days, and your help is appreciated! Each year we organize banker volunteers to help at our booth. There are still a few slots open. Please consider signing up - it's a great way to connect with ag customers and fellow bankers. The sign-up deadline is August 19.


Husker Sports Schedule Cards

The 2022 Husker sports schedule cards have arrived in our office! We have begun mailing them out to those who placed pre-orders. There is still plenty of time to order these sports cards - Go Big Red!

Order Husker Sports Cards

Contact Laurie Johnson at the NBA at [email protected] or 402-474-1555 with questions.

Senior Loan Officers Report Tighter Commercial Loan Standards

According to a Federal Reserve Survey of senior loan officers, banks are reporting tighter commercial and industrial and CRE loan standards. Standards for most categories of residential real estate were unchanged. 

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Survey: Businesses Switching Banks Due to Dissatisfaction with Employees

According to a recent survey, bank employee turnover levels are increasingly frustrating for small and mid-sized businesses. Among businesses that recently switched banks, 44% of small and mid-sized businesses cited dissatisfaction with an employee assigned to their accounts as a primary reason for switching. 

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