Nebraska Election Features NBA BankPAC at Work

On Nov. 8, Nebraska voters cast their votes for the midterm election. As of this morning, while election results remain unofficial, bankers undoubtedly see the impact of their votes and the NBA BankPAC. Unofficial federal, state and constitutional officer race results indicate that candidates who received support from Nebraska bankers through NBA BankPAC Committee decisions were elected in 22 of the 26 legislative races and all eight constitutional officer and federal races. See the list here.

This election cycle, the NBA membership, through NBA BankPAC, contributed nearly $250,000 to Nebraska’s state constitutional candidates and state and federal legislative candidates.

The NBA BankPAC Committee, led by Chair Luke Rickertsen of Flatwater Bank (Gothenburg) carefully reviewed legislative and constitutional officer candidates to determine the Committee’s financial election campaign support. NBA BankPAC support was based primarily on the candidate’s interest in ensuring a high-quality, competitive business and financial services environment in Nebraska.

In addition, if you have a relationship with a legislator, we are looking for NBA Contact Bankers to call upon during the legislative session. NBA Contact Bankers are NBA members who are acquainted with legislators in their district and other areas of the state. Periodically, the NBA issues specific "calls to action" to Contact Bankers to reach out to their legislators on issues of importance.

NBA Members Reelected to the Nebraska Legislature

Two NBA members will be serving in the Nebraska Legislature next session as a result of the Tuesday night elections. Sen. Rob Clements, American Exchange Bank (Elmwood), was reelected by capturing just over 57% of the vote and represents District 2. Sen. Mike Jacobson, Nebraskaland Bank (North Platte) who was appointed to serve last session by Gov. Pete Ricketts captured over 51% of the vote in District 42 and will be serving his first four-year term in the Legislature. Congratulations, Rob and Mike! The NBA looks forward to working with you this coming session.

NBA, UNL Honor Ag Banking Scholarship Recipients

The NBA and the University of Nebraska-Lincoln Department of Agricultural Economics honored students at the annual Ag Banking and Finance Student Scholarship Recognition Dinner on Oct. 28.

The scholarship program and ag banking major were created to offer a formal program of study for students interested in a banking career and to encourage students to return to rural communities in Nebraska after graduation.

Since 2006, Nebraska banks have provided over $1 million for the scholarship program. The program also requires a summer internship at an NBA member bank. Over 160 interns have completed an internship through the program.

Internships are a pivotal step toward building the future banking workforce. Hosting an intern at your bank introduces students to the numerous chances to learn and grow within banking. If you’re interested in hosting an intern through the NBA, please fill out this form.

Legislative, Policy & Regulatory Updates

Compliance Updates - Nov. 4, 2022

Fed Seeks Comments on Public Listing of Master Account Information

The Federal Reserve (Fed) released a proposal to publish a list of institutions with Federal Reserve accounts, often called “master accounts.” The Fed has traditionally considered account-related information as confidential business information.

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Wholesale CBDC Pilot Exercise Results Released

The Federal Reserve Bank of New York published the results of its research project on wholesale central bank digital currency (CBDC). The project looked at whether blockchain technology would improve speed, cost and access to cross-border wholesale payments. The report says a CBDC in conjunction with digital ledger technology could make cross-border payments faster and safer.

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Fed Releases Financial Stability Report

Banks remained profitable in the second quarter of 2022, according to the latest Financial Stability Report. Inflation and interest rates were cited as potential risks to the economy and the financial system.

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Upcoming Events

Nov. 15 – Bank Directors Training Workshop, Kearney
Nov. 16 – Bank Directors Training Workshop, Lincoln
Dec. 6 – Ag & Beyond Workshop, Lexington
Dec. 7 – Ag & Beyond Workshop, Norfolk
Jan. 26, 2023 – State Government Relations Forum, Lincoln
Feb. 22-26, 2023 – Bank Executives & Directors Conference, Cabo San Lucas, Mexico

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

Graduate Schools of Banking Opportunities

The Graduate School of Banking-Wisconsin (GSB-Wisconsin) and the NBA are sponsoring multiple schools in 2023: Bank Technology Management School, Digital Banking School and Financial Managers School. View next year’s full schedule here.

The NBA and GSB-Wisconsin are also co-sponsoring online seminars during the rest of 2022. For more information, view the schedule.

Enrollment is open for the Graduate School of Banking at Colorado’s next session, July 16-28, 2023, in Boulder, CO. Learn more and apply here.

Banks & Bankers

Nov. 2 - 8

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Nebraska Attorney Honored by ABA at Ag Bankers Conference

Steven Turner, an attorney at Baird Holm LLP in Omaha, received the American Bankers Association (ABA) Blanchfield Award at the ABA’s Agricultural Bankers Conference in Omaha. The award is presented to non-bankers who have contributed significantly to the advancement of agricultural lending. Turner has been an active member of the legal community during his more than 40-year career. He served as the chair of the American Bar Association’s Subcommittee on Agricultural and Agri-Business Finance and has served on the board of directors of the American College of Bankruptcy. For the past 15 years, Turner has been an instructor at the ABA’s School for Agricultural Bankers.

At the conference, NBA President and CEO Richard Baier spoke about Nebraska’s agriculture and banking industries. Nebraska bankers Adam Bruning, Bruning Bank (Bruning); Nora Turner, Union Bank & Trust Co. (Lincoln); and Lance Williams, Cornerstone Bank (Guide Rock), participated in a panel on agricultural leadership development programs moderated by Nebraska LEAD Director Terry Hejny. Jason Smith, F&M Bank (West Point), participated in the SPARK session, sharing why he’s proud to be an ag banker.

FHLBank Announces 2022 Board of Directors Election Results

The Federal Home Loan Bank of Topeka (FHLBank) has announced the results of its 2022 Board of Directors elections conducted in Kan., Neb. and Okla. Nebraskans Thomas Henning (Lincoln) and Barry Lockard (Lincoln) were elected to the Independent Directors and Member Directors, respectively. Before retiring, former banker Henning served as chairman, president and CEO of Assurity Life Insurance Company from 1990 to 2021. Lockard is the president and CEO of Cornhusker Bank and became a director of FHLBank in 2019. Congratulations!

Review & Compliance Alliance

Review Alliance

Did you know that an addendum is required if the physical address is not listed on the first page of the Closing Disclosure?

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Compliance Alliance

Q: Can a large deposit hold be placed on a next-day item (cashier's check) for the amount over $5,525?

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