The

WYOMING BANKERS

ASSOCIATION

200 East 8th Avenue, Suite 201, Cheyenne, WY 82001, (307)638-5008 * www.wyomingbankers.com

Banker

WBA’s monthly e-newsletter

April 2020

Montana & Wyoming

Bankers Convention June 6-8, 2019 **Snow King Hotel

WYOMING BANKERS ASSOCIATION WORKING TO ASSIST OUR MEMBERSHIP By Michael Geesey

Your Wyoming Bankers Association is here to assist its membership. We are well aware that you are overloaded with requests from your customers. With that in mind, we

suspended a majority of emails on webinars and are trying to limit remaining emails to information that could be helpful.

September 2017 I would like to thank everyone for answering the short survey. The purpose was to give members a quick overview on what banks across Wyoming are doing. Also we have setup a COVID-19 Coronavirus Resource page on the WBA website, the link is listed below. We will be providing SBA loan process information as it becomes available. Please remember that at this time be particularly aware of scams and financial misinformation related to the COVID-19 virus. Thank you for your support and membership.

The Coronavirus (COVID-19) Resources

Featured Speakers including: Kathy Pearson, PhD, Enterprise Learning Solutions

Jim Olson, former CIA Chief of Counterintelligence,Bush School of Government and Public Service

William Fruth, Policom

Cristine Gaffney, Senior Vice President for Supervision,Regulation, and Credit

REGISTER

TODAY!

Wyoming Bankers Association Events & Updates

2020 Opening New Accounts – May 6, 2020 – Ramkota Hotel - Casper, WY

(POSTPONED - CHECK BACK FOR NEW DATE)

2020 WBA Agricultural Bankers Conference – May 13-14, 2020 – Platte Valley

Community Center, Saratoga, WY (RESCHEDULED FOR MAY 2121)

2020 Montana and Wyoming Bankers Convention – June 18-20 2020 – The

Northern - Billings, MT (Registration Open)

2020 IRA Seminar - Understanding the SECURE ACT 2020– October 14-15, 2020 –

Hilton Garden Inn - Casper, WY (Online registration Open) IRA Update – Catching Up with the Latest Changes Webinar by Patrice Konarik — available On Demand

2020 WBA Lenders Conference – September 16-17, 2020 – Holiday Inn

Riverton, WY

Financial Regulators Issue CECL Policy Statement

As banks work to implement the current

expected credit loss (CECL) accounting

standard, the financial regulatory agencies have

finalized an interagency policy statement on

allowances for credit losses. The policy

statement describes the CECL methodology for

determining allowances for credit losses

applicable to financial assets measured at

amortized costs, including loans held-for-

investment, net investments in leases, held-to-

maturity debt securities and certain off-balance-

sheet credit exposures.

In response to comments from industry

stakeholders, including the ABA, the agencies

made several changes to the final policy

statement, including those addressing

qualitative factor adjustments for debt

securities; the use of accounting policy

elections related to accrued interest receivable;

and auditor independence. The agencies also

noted that the Federal Financial Institutions

Examination Council will consider whether to

modify the instructions for the Call Report

regarding the reporting of expected credit losses

on off-balance sheet exposures to be consistent

with U.S. generally accepted accounting

principles reporting requirements after

commenters raised concerns over the current

inconsistency. Read the final policy

statement.

Coronavirus Disease Business Planning and Continuity Resources

To assist banks across the nation as they

navigate the potential impact of coronavirus on

operations, the ABA has compiled a list of

resources at aba.com/coronavirus. Banks are

encouraged to review the planning protocol

with their staff—including business continuity

planning, crisis communications, telework

capability, mobile and online capacity, travel

policies and other topics.

D C BRIEFSFed Announces Emergency Rate Cut Amid Coronavirus Fears

Acknowledging the “evolving risks” that the coronavirus outbreak

poses to the U.S. economy, the Federal Open Market Committee

(FOMC) unanimously voted to cut the target range for the federal funds

rate by 50 basis points to a range of 1% to 1.25%. This is the first

emergency rate cut the FOMC has made since 2008.

The committee said it would closely monitor the situation as it

develops and “will use its tools and act as appropriate to support the

economy” in the days ahead.

While “the situation remains a fluid one,” Federal Reserve Chairman

Jerome Powell emphasized that “the U.S. economy is strong and we

will get to the other side of this. I fully expect that we’ll return to solid

growth and a solid labor market.”

DOJ Charges Record Number of Elder Fraud Cases

The Department of Justice (DOJ) has charged more than 400 defendants

responsible for more than $1 billion in losses this year in the largest

coordinated sweep of elder fraud cases in history, Attorney General

William Barr and Chief Postal Inspector Gary Barksdale announced. That

figure reflected a 54% increase in the number of individuals charged over

last year.

Barr noted that the effort reflects a renewed focus on prosecuting elder

fraud cases by the DOJ, which has expanded its enforcement efforts. “As

we have worked closely with banks and other private-sector partners in

this effort, it has become clear that a substantial part of the fraud against

elders is conducted by transnational criminal organizations,” he said. “For

this reason, we have now expanded our enforcement efforts to have global

reach.”

The DOJ also announced the creation of a new national hotline that will

provide services to seniors that may be victims of financial exploitation.

Victims will receive assistance with reporting suspected fraud to relevant

agencies, and will receive resources and referrals to other appropriate

services as needed. When applicable, case managers will complete a

complaint form with the FBI’s IC3 and/or the Federal Trade Commission.

Read more.

Compliance Q&A Addresses Rural Area Appraisal Options

In the March/April issue of the ABA Banking Journal, the Regulatory

Compliance and Policy Inbox column—authored by ABA’s Compliance Hotline experts—covers what options bankers in rural areas have to

mitigate appraiser shortages. The answer addresses conditions in the S.

2155 regulatory reform law and implemented by regulators under which

rural properties are exempt from appraisal requirements.

Another answer addresses circumstances when Regulation O limits loans

made to an executive officer of a bank. Read the column.

News Source: American Bankers Association

2020 Teach Children to Save Day: April 24

Geared toward grades K-8, Teach Children to

Save (TCTS), is a free national program

sponsored by the ABA Foundation that

organizes banker volunteers throughout the year

to help young people develop a savings habit

early in life. Bankers registered to participate in

the program will receive access to a private

resource page containing promotional materials,

student activities, communication tools and

presentation lessons (also available in Spanish)

covering topics that include; Banking Careers,

Decision Making, Interest, Money Recognition

and Savings.

Banks of all sizes that actively provide youth

financial education, using any curriculum, are

invited to register their participation in TCTS at

no cost. Additionally, registered participants

will receive access to all TCTS resources which

can be used throughout the year. Register for

Teach Children to Save.

ABA HSA Council Statement on New IRS Guidance By Kevin McKechnie, executive director, ABA's HSA Council

“We applaud the administration for its swift

action to ensure millions of Americans who

finance their healthcare with a Health Savings

Account-qualified plan can access free COVID-

19 testing. The new IRS guidance confirms that

COVID-19 testing falls within the definition of

‘preventative care’ and is therefore able to be

covered without cost-sharing pre-deductible.

During global health emergencies, it’s critical

Americans have access to the services and care

they need, and this guidance is an important

step in making that a reality.

“ABA’s Health Savings Account Council will

continue to work closely with the

administration and public health officials to

ensure the safety and well-being of the millions

of working Americans insured with HSA-

qualified plans.”

D C BRIEFS USDA Announces Intent to Make Grants Available Under the Higher Blends Infrastructure Incentive Program

Agriculture Secretary Sonny Perdue announced that the U.S.

Department of Agriculture (USDA) intends to make available up to

$100 million in competitive grants for activities designed to expand the

sale and use of renewable fuels.

The Department plans to publish application deadlines and other

program information in the Federal Register this spring. The USDA

will make the grant funds available under the Higher Blends

Infrastructure Incentive Program. Its purpose is to increase

significantly the sale and use of higher blends of ethanol and biodiesel

by expanding the infrastructure for renewable fuels derived from U.S.

agricultural products. The program is also intended to encourage a

more comprehensive approach to marketing higher blends by sharing

the costs related to building out biofuel-related infrastructure.

Grants will be available to help transportation fueling and biodiesel

distribution facilities convert to higher-ethanol and biodiesel blends by

sharing the costs related to installing, retrofitting and/or upgrading fuel

storage, dispenser pumps, related equipment and infrastructure.

For additional information, see page 11946 of the Feb. 28, 2020,

Federal Register.

USDA Delays Certain Requirements for Industrial Hemp Producers

Fifty state bankers associations, including the WBA, wrote to Senate

Banking Committee leaders urging them to support the SAFE Banking

Act (S. 1200), a bill that would provide a safe harbor for depository

institutions seeking to serve legitimate cannabis-related businesses in

states where such activity is legal. The associations called for a markup

of the bill “as soon as possible.”

The bill was passed by a bipartisan majority in the House last year, but

has since stalled in the Senate. Senate Banking Committee Chairman

Mike Crapo (R-Idaho) in December expressed concerns about the bill

related to public health and safety, legacy cash, money laundering and

interstate commerce.

“Although there are admittedly broader public policy questions at play,

we ask that you evaluate and address this pressing banking problem,

which is within your power to resolve,” the associations said. “Doing

so will reap immediate public safety, tax and regulatory benefits while

Congress continues to grapple with broader decisions about national

drug policy.” Read the letter.

News Source: American Bankers Association

ABA Applauds Senate Passage of Economic Relief Package By Rob Nichols, ABA president and CEO

“We welcome the Senate's strong, bipartisan action to help the nation respond to this unprecedented healthcare crisis. America’s banks

are already taking steps to assist customers and businesses affected by COVID-19, and this legislation will allow banks to provide even

more critical assistance to borrowers in their communities. Banks of all sizes stand ready to do their part to support the economy and

put the nation on a quick path to recovery. We thank congressional leaders for their hard work on this bill, and urge the House to move

quickly to get it to the president's desk for his signature.”

ABA Writes Lawmakers in Support of ECORA Act

In letters to House and Senate members, the ABA urged lawmakers to support the Enhancing Credit Opportunities in Rural America

Act (ECORA), a bill that would end taxation of interest earned from agricultural real estate loans. This would not only reduce servicing

costs for community banks providing these types of loans, it would also level the playing field between banks and the tax-advantaged

Farm Credit System—making it easier for banks to support the farm sector through real estate loans.

Amid persistent difficulties for the ag sector, “it is estimated that ECORA could reduce the average interest rate on a farm and ranch

real estate loan by 1.5% to 2%,” the ABA stated. “This legislation offers a straightforward solution to help farmers and ranchers during

this time of lower farm incomes without creating new government payments or programs.” Read the letter.

ABA Applauds FDIC Recommendation to Delay CECL By Rob Nichols, ABA president and CEO

“We applaud [the] call by FDIC Chairman McWilliams for FASB to delay required implementation of the CECL accounting standard for

financial institutions. ABA has long called for delaying CECL until a quantitative impact study can be conducted to better understand how it

might impact credit availability during periods of economic stress. With economic stress now here thanks to COVID-19, it is critically

important that banks of all sizes have all the tools they need to lend to creditworthy individuals and businesses.

“We also appreciate Chairman McWilliams' recommendation to exclude COVID-19-related modifications from being considered a

concession when determining a troubled debt restructuring classification. This step will also assist banks that are already stepping up and

responding to the needs of individual and business customers during this difficult time. Click here to continue reading.

WBA Welcomes New Associate Member

The Banker Group– www.gobanker.com

The Baker Group has been a trusted financial partner helping community financial institutions improve their decision-making, interest rate risk management, and investment portfolio performance since 1979.

In 1981, founder James V. Baker revolutionized financial risk management with his publication, Asset/Liability Management. In his best-selling book, Dr. Baker recommended integrating interest rate risk and investment portfolio management with balance sheet management to better monitor and measure interest rate risk and improve overall performance. By applying Baker’s “total bank” approach, community financial institutions were able to adapt to the changing market throughout the years.

Today, The Baker Group is one of the nation’s largest independently owned securities firms specializing in investment portfolio and interest rate risk management for community financial institutions nationwide. After decades of industry service, The Baker Group continues to grow and adapt in order to better serve their financial partners.

CONTACT:

Skoshi Heron

1601 NW Expressway, Floor 20

Oklahoma City, OK 73118

Phone: 405-415-7222

Email: skoshi@gobanker.com

D C BRIEFS

News Source: American Bankers Association

Pensions, Retirement and Markets: Five Questions for 2020

As we head into 2020, below are five questions relating to current trends and topics which are expected to impact retirement plans, financial markets and savings next year:

1. Will the 2019 U.S. equity rally continue into 2020 or will “fundamentals” take hold?

After declining by -4.4% in 2018, the S&P 500 Index is on target to return about 30% in 2019, surpassing expectations and virtually all international stock market returns. This big turnaround has been fueled by four major factors: (a) general optimism regarding U.S. trade policy, including rollback of some tariffs imposed on Chinese goods; (b) the Federal Reserve’s decision to cut its federal funds rate three times in 2019 after raising rates four times in 2018; (c) strong growth in U.S. consumer spending which has compensated for weaker business spending; and (d) continued buybacks of company stock which have supported price per share gains.

What are possible headwinds heading into 2020? Fundamentals, which include company earnings, economic growth and valuations, may play a more prominent role. First, there has been a significant slowdown in economic growth outside of the U.S., with pullbacks in manufacturing, and near recessionary indicators in Europe and elsewhere. While the U.S. has shown steady, albeit slowing growth, there may be further weakening in 2020, particularly if global growth continues to slow. Second, corporate earnings have been flat or declining on a year-over-year basis after double digit gains in 2017 and 2018. Though earnings are a key component of stock prices, the slowdown in corporate earnings didn’t slow down momentum in the stock market during 2019. Will earnings have an adverse impact in 2020? Third, valuations for large cap stocks, such as Apple, Amazon and Google have been at record levels. At some point, these valuations should come back to more normal levels though it is hard to forecast when this will happen.

It is impossible to predict how the U.S. equity market will behave in 2020. Most analysts expect significant volatility in stock prices, particularly in an election year, with any gains in the vicinity of mid-single digits. In this environment, it continues to be important for investors to diversify their portfolios.

2. What will happen with U.S. interest rates?

In 2019, interest rates were a tale of two maturity ends of the U.S. Treasury yield curve. Yields on bonds with short maturities (1 year or less) fell due to three Federal Reserve (Fed) rate cuts during the year. Rates for bonds with longer maturities (10 years and longer) stabilized after falling significantly between June and September.

The fall in shorter rates has generally reduced returns for retirement-age savers. According to bankrate.com, average 1-year CD rates declined from a 2019 high of 1.39% in June to 1.24% in December. While defined benefit pension plans generally suffered declines in their funded ratios due to the fall in longer term interest rates, the recent stabilization in rates, along with the market rally, have helped stem the drop in their funded status.

As with any future event, it is unclear what will happen with interest rates in 2020. The Fed is currently signaling a hold on rates or at most one rate cut in 2020. They will have to balance a slowing U.S. economy and mild inflation, versus external risk factors such as tariffs, slowing global economies, Brexit, oil prices and geopolitical tensions.

3. Where are regulations around fiduciary standards headed?

In 2018, the move toward a uniform fiduciary standard for brokers and advisors was disrupted when the Department of Labor (DOL) fiduciary standard, also known officially as the “Conflict of Interest” rule, was repealed by a Federal court. Into this vacuum stepped several parties: (a) the Securities and Exchange Commission (SEC), which issued its proposed best-interest (BI) standards in April 2018. These would require broker-dealers to disclose conflicts of interest and to “exercise reasonable diligence, care, skill and prudence” to ensure they are selling products and carrying out transactions

that are in a client’s best interest1; (b) the DOL itself, which announced it would release new advice rules; and (c) various states, which have proposed their own fiduciary regulations.

After extensive comment, litigation and review, the SEC BI standards were approved in June 2019 and are expected to become effective June 30, 2020. The DOL is expected to re-propose their fiduciary rulemaking, though the timing is uncertain. And at the state level, New Jersey, New York, Connecticut and other states have introduced state-based fiduciary standards for advisors and brokers operating in their respective jurisdictions.

The regulatory environment around fiduciary standards remains unclear heading in 2020. However, the SEC BI standard- if enacted-while considered less strict than the DOL Conflict of Interest Rule, would strengthen protections versus older fiduciary standards.

4. How will the SECURE Act affect the retirement industry?

After months of remaining in limbo in the Senate, the U.S. Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act in December 2019. While it may not significantly impact the overall retirement savings crisis in the U.S., the SECURE Act is considered the most significant pension legislation passed since the 2006 Pension Protection Act (PPA). The SECURE Act provisions include: increasing the age for Required Minimum Distributions (RMDs) from 70 ½ to 72; easing IRA contribution restrictions; expanding automatic enrollment and facilitating lifetime income disclosures and product offerings such as annuities. Perhaps the biggest impact is to ease regulations and increase incentives for employers to join together to create open Multiple Employer Plans (MEPs) and to expand retirement plan participation to part-time workers.

5. Will Exchange Traded Funds (ETFs) continue their rapid growth?

While ETF assets remain a relatively small fraction of the total of passive index funds and actively managed funds, there has continued to be an explosion in ETFs. ETFs have been a preferred vehicle for investment advisors to rebalance their clients’ portfolios.

While ETF expense ratios are competitive with mutual fund index funds, there are differences between the two, including hidden ETF costs associated with bid-ask spreads and ETF premiums and discounts from net asset values.

Market trends suggest continued growth and demand for ETFs by investors and advisors in 2019 and 2020, despite some leveling off in 2018. The chart below shows U.S. ETF assets at $3.4 trillion at the end of 2018, an annualized growth rate of nearly 16% over a 10-year period.

Source: Investment Company Institute, 2019 Investment Company Factbook.

1. Adam Bergman, “Impact On Self-Directed IRAs of SEC Fiduciary Rule Proposals”, Forbes, April 20, 2018.

NOTE: Information presented herein is for discussion and illustrative purposes only and is not a recommendation or an offer or solicitation to buy or sell any securities. Past performance is not a guarantee of future results. This blog contains several forward-looking statements. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. Actual results may vary materially from those expressed herein.

See the full article.

FOR IMMEDIATE RELEASE CONTACT: Victoria Rosengarten

MARCH 3, 2020 816/881-2308, victoria.rosengarten@kc.frb.org

FEDERAL RESERVE BANK OF KANSAS CITY

ANNOUNCES OFFICER PROMOTIONS AND APPOINTMENTS

KANSAS CITY, MISSOURI – Federal Reserve Bank of Kansas City President and Chief Executive Officer

Esther George recently announced the following organizational changes:

Assistant Vice President Sean Foley was promoted to Vice President. In this role, Foley will have responsibility

for technical support, system monitoring, and quality assurance testing for ACH and Check processing platforms, in

addition to Check and ACH application and infrastructure change management, release management, and analytical

support.

Foley joined the Bank in 2007 as a contractor and became a full-time employee to lead telecommunications for

the construction of the Bank’s headquarters building and later as architect for the Federal Reserve System's consolidated

telephony system. Prior to joining the Bank, Sean held a variety of information technology and quality assurance roles

across several IT organizations. He holds a B.S. degree in Business Information Systems from the University of Phoenix.

In addition, the following promotions within the Bank’s Supervision and Risk Management Division are effective

March 1.

Assistant Vice President Amber Conley is promoted to Vice President with responsibility for the Regional

Banking Organization (RBO), and Operational Risk functions and a newly established Resource Management and

Development function.

Conley joined the Bank in 2002 as an assistant examiner trainee. She held various examiner roles prior to being

named manager in 2011. She has served in several Federal Reserve System assignments and in 2016 was appointed to

Assistant Vice President with responsibility for the Examinations and Inspections (E&I) Department’s RBO

function. She assumed responsibility for the E&I Department’s Community Banking Organization function at the Denver

Branch in 2017. Conley has a B.B.A. degree with an emphasis in Finance from Colorado State University, Fort Collins,

Colorado.

Assistant Vice President Judith Hazen will be promoted to Vice President of the Surveillance and Risk Analysis

and Support Solutions Departments, and a newly established Banking and Financial Technology function.

Hazen started at the Federal Reserve Bank of St. Louis in 1999 before joining the Kansas City Fed’s Denver

Branch as an Assistant Examiner in 2004. She held various examiner roles within Examinations and Inspections, Learning

Services, and Enforcement, and in 2012 was promoted to manager. In 2015, she relocated to Kansas City to become

manager of the Applications and Enforcement Department. She was appointed to Assistant Vice President with

responsibility for the Support Solutions Department in September 2016. Hazen has a B.A. degree in Economics from

Colorado State University and is a graduate of the Graduate School of Banking, Boulder, Colorado.

Lacey Peters will be appointed Assistant Vice President with responsibility for the Examinations and Inspections

Department’s Operational Risk and Resource Management and Development functions.

Peters joined the Bank in 2010 as an examiner. She was promoted to manager in 2014 and assumed a role in the

Applications and Enforcement Department in 2018. Peters holds a B.S. degree in Finance from the University of

Missouri, Columbia, Missouri.

Kristi Roman will be appointed Assistant Vice President with responsibility for Support Solutions within the Bank’s

Supervision and Risk Management Division. Roman joined the Bank in 2011 as a senior assistant examiner in the

Consumer Affairs Department. She was promoted to manager in 2014, and in 2017 assumed management responsibility

for Support Solutions. She holds a B.B.A. degree in Finance, and a M.B.A. from Eastern Illinois University, Charleston,

Illinois.

As the regional headquarters of the nation’s central bank, the Kansas City Fed and its branch offices in Denver,

Oklahoma City and Omaha serve the seven states of the Tenth District: Colorado, Kansas, Nebraska, Oklahoma,

Wyoming, northern New Mexico and western Missouri.

FOR IMMEDIATE RELEASE

United Bankers’ Bancorporation, Inc. Welcomes Jae Evans to Board of Directors

BLOOMINGTON, MN – Bryan Grove, Chairman of United Bankers’ Bancorporation, Inc., is

pleased to announce the appointment of Jae Evans as the newest member of the United

Bankers’ Bancorporation, Inc. (UBBI) and United Bankers’ Bank (UBB) Board of Directors.

Currently the President and Chief Executive Officer of Isabella Bank Corporation and CEO of Isabella Bank in Mt.

Pleasant, Michigan, Jae comes to the Board with over forty years of banking experience. During his tenure at

Isabella Bank, he has held positions as Chief Operations Officer and as President of the Greenville Division. He

has served on the board of Isabella Bank Corporation and Isabella Bank since 2014 sitting on the information

technology, finance, investment, trust, and director’s loan committees. Evans received his undergraduate

degree from Central Michigan University. He is also a graduate of the Graduate School of Banking at the

University Of Wisconsin – Madison.

In dedication to his community and the banking industry, Jae serves on ICBA’s Safety and Soundness Committee

in addition to being a board member for The Community Bankers of Michigan, McLaren Central Michigan

Hospital and the Central Michigan University Advancement Board. He is a past Chair of the Eightcap, Inc.

Governing Board, past Vice Chair of the Carson City Hospital, and past president of the Greenville Rotary Club.

“Jae is a well-respected veteran in the financial services industry. His dedication to his community and the

community banking industry aligns well with the mission, vision and values of United Bankers’ Bank,” stated

Dwight Larsen, UBB’s President and CEO.

About United Bankers’ Bank

Headquartered in Bloomington, MN, United Bankers’ Bank is the nation’s first bankers’ bank, and a full service provider of correspondent banking services to community banks in: Minnesota, North Dakota, South Dakota, Montana, Nebraska, Indiana, Iowa, Wyoming, Idaho, Ohio, Oregon, Washington, Michigan California and Illinois. For more information please visit www.ubb.com.

Contact: Dwight Larsen United Bankers’ Bank Phone: 800-752-8140 dwight.larsen@ubb.com

March 20, 2020

1650 W 82nd Street Bloomington, MN 55431 www.ubb.com

FOR IMMEDIATE RELEASE

United Bankers’ Bank Launches Financial Literacy Partnership with Banzai

BLOOMINGTON, Minn, March, 24, 2020 – United Bankers’ Bank (UBB), the nation’s first bankers’ bank, today announced its collaboration with financial literacy software provider, Banzai.

As a result of this partnership, UBB will connect community banks with Banzai’s award-winning platform for teaching financial literacy to people of all ages. Banks have the opportunity to sponsor the Banzai programs in the classrooms of schools located in and around their communities. Through the sponsorship, Banzai’s platform is completely free for educators, students and adults. In addition to recognition for their sponsorship, community banks provide area schools with access to a financial literacy curriculum and can also qualify for CRA credits.

The Banzai curriculum exposes users to multiple real-life, financial dilemmas, from taming a budget and developing wise spending habits to making and keeping savings goals. Banzai comes with three interactive courses, a suite of in-depth content with financial calculators and support services for both teachers and sponsoring community banks. It is used by over 60,000 teachers throughout the United States and has educated over 2 million K-12 students.

“It is important to have financial literacy taught in the schools today, because it equips the younger generations and future bank customers with a solid foundation that is built on the knowledge and skills they need to confidently and effectively manage their finances,” commented John Peterson, Executive Vice President and Chief Marketing Officer for United Bankers’ Bank.

“Often times, a community bank is the destination consumers seek out for financial literacy and answers regarding their finances. Therefore, it only made sense to connect our community bank customers with an innovative and proven platform like Banzai’s. This program provides people of all ages with educational resources to develop the core life skills needed to be successful today and well into the future,” commented Tyson Doke, Vice President and Marketing Manager for United Bankers’ Bank.

“It is an honor for Banzai to partner with a forward-thinking organization like UBB. We at Banzai believe financial literacy is a skill that everyone needs, no matter the circumstance, and it’s never been more important than in today’s economy. UBB’s commitment to further the financial literacy movement is admirable,” stated Morgan Vandagriff, CEO, Banzai

To request more information about the various programs available through this partnership and to schedule a demonstration, please visit www.ubbEdu.com.

# # # About United Bankers’ Bank

Headquartered in Bloomington, MN, United Bankers’ Bank is the nation’s first bankers’ bank, and a full service correspondent banking service provider, serving over 1,000 community banks located throughout: Minnesota, North Dakota, South Dakota, Montana, Nebraska, Indiana, Iowa, Wyoming, Idaho, Ohio, Oregon, Washington, Michigan, Illinois and California. For more information please visit www.ubb.com.

ry

BANKPAC

WYOMING BANKERS ASSOCIATION

The 2020 WBA BankPac campaign started last month. To date 33 individuals from 4 banks, branches &

associations have contributed $3,375 to the current campaign. The following is a list of WBA members and

their banks who have contributed since March 30, 2020.

Bankers/Bank

Kathi Adams - ANB, Cheyenne

Judy Allison-Collins - ANB, Cheyenne

Timothy Anderson - ANB, Casper

Chaz Avila - ANB, Laramie

Terri Baker - ANB, Cheyenne

Dave Bruni - First Interstate Bank, Casper

Brgnt Burkart - ANB, Cheyenne

Kevin Couch - ANB, Gillette

Darold Destefano – The Bank of Sheridan, Sheridan

Pat Flanary - ANB, Cheyenne

Steven Griego - ANB, Cheyenne

Michael Hickerson - ANB, Laramie

David Hubert - First Interstate Bank, Sheridan

Dara Johnston - ANB, Cheyenne

Lelly Lojka - ANB, Cheyenne

Hpward Macleary - ANB, Cheyenne

Kathy Mawforn - ANB, Cheyenne

Rebecca Miller - ANB, Laramie

Heather Morgan - ANB, Cheyenne

Kenny Morris - ANB, Cheyenne

Kevin Paintner - ANB, Cheyenne

Rachel Pherson - ANB, Gillette

Jerry Plumley - ANB, Cheyenne

Mike Peck - First Interstate Bank, Laramie

Susan Potter - ANB, Cheyenne

Koger Propst - ANB, Denver

Stephen Reimann - ANB, Buffalo

Brent Ross - ANB, Casper

Brett Roth - ANB, Laramie

Olivia Samson - ANB, Cheyenne

Lori Schoene - ANB, Cheyenne

Scott Thayer - RNB State Bank

Duane Whitlock - ANB, Cheyenne

WBA Bank Pac is the nonpartisan political action committee of the Wyoming Bankers Association. All contributions are voluntary. Absolutely no form of coercion may be used to solicit a contribution. No employee will be favored, disadvantaged, or retaliated against based on their contribution amount or their decision not to contribute. A suggested contribution is only a suggestion. Corporate contributions are prohibited. Contributions to WBA BankPac are not deductible for state or federal income tax purposes. Federal Law requires political action committees to obtain written authorization to solicit and to use best efforts to report the name, mailing address, occupation, and name of employer for each individual whose contributions aggregate an excess of $200 in its calendar year. State law requires political action committees to use best efforts to report the name, mailing address, occupation, and name of employer for each individual whose contributions aggregate an excess of $100 in a reporting period.

2020 WBA

BankPac Is In

Full Swing!

Ollie 'Maxine' HillOllie "Maxine" Hill, our

most beloved gem of thisearth, mother, grandmother,great­grandmother, sister,aunt and friend peacefullydeparted for the beginning ofher journey in the ever afteron March 11, 2020.She was born Jan. 12,

1932, to Mack and MabelBoyt, the first baby of 1932"Little Miss Greybull."She attended school in

Shell and then graduatedfrom Greybull High Schoolin 1949. She married Wal­ter Hill on May 28, 1955.They moved to Laramie andattended the University ofWyoming where Maxinemajored in English. AfterWalter's graduation, theymoved back to Cody, andMaxine began her long bank­ing career of 30­plus years,eventually becoming VicePresident of First WyomingBank. She retired with KeyBank in 1990.

She then worked as abookkeeper at Stecks­Smithswith her dear friend andneighbor of 51 years, LindaEvans. After that she workedat the Buffalo Bill HistoricalCenter selling tickets along­side her sister Delores Miller,making new friends from allover the world.

She also volunteered dailyin her daughter Kathy's kin­dergarten class at SunsetElementary School whereshe made many new little

friends.Maxinewas afound­ing andchartermember ofthe CodyChapterof Soropti­mist Inter­national ofwhich she

became an honorary lifetimemember.

She was very active inher church and community,caring selflessly for so manyothers, young and old alike.Later in life she literallytraveled the world with herdear friend Jim Uhe. Sheloved getting together withall of her lifelong friendsfor their monthly birthdaylunches and dinners. For thelast eight years of Maxine'slife she was most lovinglycared for by her granddaugh­ter Sarah, along with Sarah'sfiancé Jeremy Brod, up untilher very last breath.

She is survived by herfour children Kathy (the lateJere) Barnhart, Cindy (Dick)McGuire, Mary Ann (Brent)Turner and son Daniel Wal­ter Hill. Grandchildren Jere­my Barnhart, Kayla Jolovich,Jackson and Derrick (Duke)McGuire, Emily, Sarah,and Audrey Turner, Shylaand Kevin Hill, and ChrissyPowell, great­grandchildren

Caleb and Caty Barnhart,and Ollie and Carson Coon.

She was also devoted toher large extended familywhich includes many lovednieces and nephews, andtheir children. She is alsosurvived by her belovedfeline friend Peaches.

Maxine was preceded indeath by her parents, sisterCarol, her husband Walter,whom she was married to for27 years before his untimelydeath in 1982, granddaugh­ter Janna Lynne Barnhart,son­in­law Jere Barnhart,and Jim Uhe.

Maxine will be remem­bered most for her zest forlife, love of music, her beauti­ful smile, and unconditionallove for family and friends.Funeral services were held

at First Presbyterian Churchin Cody on Monday, March16, 2020 at 11 a.m.

An online guestbook isavailable at BallardFH.com.

MAXINEHILL

1932­2020

WY0035 Cody EnterprisePage Number: a005Publication Date: 03/17/2020

Ollie 'Maxine' Hill

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County: Park

Businesses have options for financial aidFederal loan programand local banking,nonprofit fundson the table.By Billy ArnoldSome relief may be available for

businesses forced to close due to asweeping public health order issued toslow the rate of COVID­19 transmis­sion. Businesses that choose to close orotherwise experience a virus­relateddownturn over the next few weeksmay also be eligible for assistance.Support is available at several. The

federal government offers disaster re­lief loans, and the state is compilingeconomic resources for small busi­nesses. Locally, people and businessesaffected by the community's responseto COVID­19 can seek assistance ofvarious kinds from at least one bankand nonprofits that have gathered lo­cal dollars to help out.Gov. Mark Gordon put it simply

during a Monday press conference."Small businesses are the lifeblood

of Wyoming's economy, and I will doeverything in my power to supportthem during this time," he said.Federal funding availableOn Friday, Gordon declared a state

of emergency, the first step in open­ing Wyoming businesses to emergencyloan assistance from the federal SmallBusiness Administration.Four counties ­ Teton, Park, Uinta

and Sweetwater ­ became eligible forthat funding Tuesday because of dec­larations made in Utah and Montanathat included the Wyoming areas as"contiguous counties." Rule changesannounced Tuesday mean Gordon'sdeclaration will bring the rest of thestate online within "hours," SBA Wyo­ming District Director Amy Lea said.The federal agency's disaster re­

lief funding, dubbed Economic InjuryDisaster Loans, is commonly used tosupport those affected by terrestrialnatural disasters. The Nashville, Ten­nessee, area received support when

tornadoes ripped through the area.SBA funds can be used to cover

"fixed debts, payroll, accounts pay­able and other bills that can't be paid"because of the impact of coronavirus.Small businesses receive a 3.75%interest rate. The nonprofit rate is2.75%. Loans of up to $2 million can beissued, Lea said.Interested businesses should visit

SBA.gov/disaster to apply.Those looking for help can also turn

to the Wyoming Small Business Devel­opment Center, the federal agency'sstate resource partner.Lea said the center can help "with

preparing to submit a loan applica­tion to SBA, and also trying to planfor how coronavirus can impact theirbusinesses." An example of the latteris developing strategies to implementbefore receiving a loan to mitigate eco­nomic shocks.Turnaround time on disaster loan

applications is usually a week, butthat may take longer because of thevolume of requests the bureau antici­pates receiving."This has been an unprecedented di­

saster," Lea said. If people submit ap­plications, she said "we're very hopefulit will be processed just as quickly aspossible."State to compile infoNo state funds will be available for

small business economic assistanceprograms, but the state is looking toprovide support in other ways. Gordonasked State Auditor Kristi Racines,who is heading up the state's businessand finance COVID­19 taskforce, tocompile resources for small business­es. The Wyoming Bankers Associationand Wyoming Business Council willboth be involved in that group, Gordonsaid, "to figure out the best way to ap­

proach these things."Some local programsAt a local level Bank of Jackson

Hole Chairman and CEO Pete Lawtonsaid his firm is working with business­es and individuals to discuss possiblesolutions for cash flow issues.Lawton said the bank has both been

approached by and approached busi­nesses to discuss "contingency plans."It has already lent borrowers somemoney, and Lawton said the firm is"always looking for new business" ifothers are looking for help."We think this is short term and if

we think the business is viable" ­ thesame considerations the bank madebefore Jackson Hole began respondingto the pandemic ­ "we'll work withthem and try to figure something out,"Lawton said.For the time being, Lawton said the

Bank of Jackson Hole has "plenty ofliquidity." His main concern is timing."The longer we're in this situation,

the more difficult it's going to be foreverybody," he said, noting that busi­nesses in Jackson are generally strong."I think they're going to be fine and

ride it out, but I do worry about the in­dividuals," Lawton said.With interest rates slashed by the

Federal Reserve Board in responseto the COVID­19 crisis, the bankernoted that "interest rates are veryfavorable across the board." He saidthe Bank of Jackson Hole is preparedto "work with individuals on a case­by­case basis."Just make sure to call, rather than

visit in person."All of the different tools we have

available [for businesses] are availablefor individuals as well," Lawton said."If they want to call us, we'll absolutelywalk it through with them."

WY0035 Jackson Hole News & GuidePage Number: 15Publication Date: 03/18/2020

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County: Teton

First Interstate Bank's marketpresident Richard Uhl said his bankwas working on a response.The Community Foundation of

Jackson Hole and One22 have alsoset up funds for those impacted by thepandemic's economic fallout. See page3 for more.

Contact Billy Arnold at 732­7063 orbarnold@jhnewsandguide.com.Resources for peopleand for businesses

Financial assistanceFor individuals: COVID­19 Financial

Relief Grants from One22, One22JH.org/covid­19

For nonprofits:CommunityEmergency Respond Fund from theCommunity Foundation of JacksonHole, CFJacksonhole.org/community­emergency­response­fund­activatedFor businesses and visitors: The

Jackson Hole Chamber of Commerce hasset up a web page for COVID­19 resources,JacksonHoleChamber.com

For businesses: See the chamber'sblog post about business advocacy,TinyUrl.com/chamberjhcovid.For small businesses: The Small

Business Association offers disaster reliefloans for Wyoming businesses, SBA.gov/disaster

Food assistanceA number of organizations are offering

free food during the COVID­19 pandemic,JHFoodHelp.com

Volunteering / matching.Sign up to volunteer with VolunteerJH,

CFJacksonHole.org/volunteer­jh.

WY0035 Jackson Hole News & GuidePage Number: 15Publication Date: 03/18/2020

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County: Teton

Banks, other essential services still accessibleBY KEVIN KILLOUGHTribune News EditorIn response to the COVID­19pandemic, Park Countyand the State of Wyoming

have closed day care centers,bars and restaurants, pools,gyms and theaters for at leasttwo weeks. Meanwhile, otherbusinesses like grocery stores,banks, pharmacies, laundro­mats, and car mechanics re­main open.Trace Paul, Powell branch

manager of First Bank, saidhe's concerned people willassociate responses to thepandemic with the health of thebank. To maintain the safety oftheir customers and employeesthey have closed their lob­bies, like all banks throughoutthe nation, but Paul said aninstitution insured throughthe Federal Deposit Insurance

Corporation is still the safestplace to keep your money.The FDIC is also trying to as­

sure people thatthe banking in­dustry is secure.The corporationpointed out in astatement on CO­VID­19 that nodepositor since1933 has lostmoney from anybank it insures.While the so­

cial distancingguidelines arein effect, mostbanks in Powell are conduct­ing business through ATMs,drop boxes, mobile apps,their drive­thrus or online.

When face­to­face meetingsare needed for things like no­tarized signatures, banks aredoing so by appointment."Just because people see

our lobby closeddoesn't meanwe're not work­ing," Paul said.With interest

rates cut, FirstBank has han­dled 170 mort­gages in the pastweek, and issorting througha number ofprograms aimedat providing re­lief to hurtingbusinesses.

"We're fortunately well

See Essential, Page 3

'Just becausepeople see ourlobby closeddoesn't mean

we're not working.'Trace PaulFirst Bank

branch manager

Essential: 'We are here for the community'Continued from Page 1

positioned to handle this," saidTy Nelson, bank president."I've never seen a responselike this so fast."The ability to do banking

during this time is especiallyvital for farmers, who are justnow planning out the comingseason's crops. Paul said thebank is conducting ag lendingservices, utilizing appoint­ments where necessary."It's happening. Our ag

lenders are working as hard asever. That end of the businesshas not paused," Paul said.The other banks in town are

also continuing operations inthe same manner. The Bankof Powell is using its drive­thru and has a night drop boxavailable. Where necessary,they're seeing customers byappointment. Taunya Iverson,secondary administration forthe branch, said they're usinggood sanitation practices aftercustomers leave."We're still seeing people

while keeping our customersand employees safe," Iversonsaid.Sunlight Federal Credit

Union's slogan during thistime is "business as usual, justby appointment." Whenever"wet signatures" are needed,they're meeting face­to­face.All other members' businessis done online, and they've ex­tended the hours of their drive­thru, which is open daily from7 a.m. to 6 p.m.Pathfinder Federal Credit

Union doesn't have a drivethru, so they're allowing mem­bers to use the lobby from 10a.m. to 2 p.m. daily. One or twomembers can enter the lobbyat a time, and staffers aresanitizing all touched surfacesafter they leave. They also of­fer online banking and mobileapps.Pinnacle Bank, meanwhile,

has limited lobby access toappointment only and hasexpanded its usual drive­thruservices. It also offers online

banking and staffers can pro­vide assistance over the phone.Pharmacies are filling pre­

scriptions. The Powell ValleyHealthcare pharmacy hasa drive­up window, whichpeople are encouraged to useif they can. PVHC workers arealso sanitizing the countersfrequently between customers.Powell Drug is offering

curb­side service and anyonecan call the store to request it.They are also asking that any­one experiencing symptomsof the virus not to come in thestore and utilize the curb­sideservice.Grocery stores are open as

well, and they're doing whatthey can to respond to thepanic buying that has clearedout stores across the country.Blair's is limiting its hours andsome items have restrictionson the number people can buyat once, such as paper productsand canned soups. Brent Foulg­er, Blair's co­owner, said theyare frequently sanitizing doorsand carts ­ anything people

touch ­ throughout the day andafter they close at night."We're keeping our staff

employed and our store run­ning to supply the communitywith what they need," he said.Blair's said on its Facebookpage that there is no need forcustomers to panic, as suppliesare continuing to roll in.Mr. D's is open during its

regular hours, but there arepurchase limits on some items,such as toilet paper. The storeis also offering a delivery ser­vice. There is a fee of $3.50 onall orders under $50. Custom­ers can call, email mrdspow­ell@gmail.com, or place theorder through the store's Face­book page."We are here for the com­

munity," said Kami Scott, Mr.D's manager.Since transportation is a

vital need, dealerships andmechanics are also permit­ted to continue operations.Fremont Motors' sales, parts,and service departments areall running during normalhours. They are also offeringpickup and dropoff servicesfor anyone who can't get to thebusiness."We're going to do business

until we can't do business,"said Mike Hobbs, generalmanager.Yellowstone Motors is also

open and offering pickup anddelivery service anywhere inthe Big Horn Basin for salesand service matters. They'vealso increased weekend hours,offering sales and service byappointment."Right now, we haven't

reduced hours. We increasedthem to help people out a bit,"said Vince Smith, vice presi­dent of operations.

WY0035 Powell TribunePage Number: 1Publication Date: 03/24/2020

Banks, other essential services still accessibleBY KEVIN KILLOUGH Tribune News Editor71.14 column inches

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County: Park

LETTER TO THE EDITOR

Wells Fargo to be missedDear Editor:

When i worked at the oldRamona theatre as a licensedprojectionist & cashier in highschool I first made nightly out­door deposits starting about1968. It has been 52 years thatI have had an association withthe downtown bank location.Over the years I was spoiled

by Ginger, Kim, Dean andothers. they made my depos­its effortless, I didn't have tofill out a old fashioned paperdeposit slip, they took care ofwhatever I had gotten into thehabit of letting them do for me.

On behalf of many, I wantedto say thanks before theyclose. As I understand it my

Wells Fargo bank account willremain active. According toDean, it will be transferredto the Cheyenne Wells Fargoand I won't have to change myautomatic payments, directdeposits, whew.They are going to have an

active ATM remaining inWheatland. I think a new ATMkiosk location is in the worksif I understood Dean correctlyand a proposed increase on thedaily cash withdrawal limits.Thanks Dean and team, I

think of you all as my friends,good luck with your futureendeavors.

Owen L TothWheatland

WY0035 Platte County Record­TimesPage Number: 4Publication Date: 03/11/2020

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County: Platte

Find a loan that makes you feel at home at First BankWhether you've found your

first home or your dreamhome, First Bank can help youfind the loan that makes youfeel right at home.

Not all mortgages are cre­ated equal, and First Bank'sexperienced lenders can helpyou sort through financingoptions.

One of the ways they aremaking the process easieris through FirstLink, whichbegan in April 2019. FirstLinkenables home buyers to applyfor a loan online through amortgage lending portal.

"With post­recession loanexpectations, applying for ahome loan had a perception ofbeing overly complicated andcumbersome," branch man­ager Derek Moore said. "Thishelps make the process moreconsumer­friendly."

FirstLink helps to reducethe hassle and learning curvesoften associated with a tradi­tionally lengthy and intimidat­ing process. The applicationis tailored to individual cir­cumstances and provides tipsto guide home buyers throughevery step of the process. It isan inclusive ADA and WCAG­compliant platform.

The portal allows homebuyers to save time with astreamlined digital experience.

You have 24/7 online accessto apply and can complete theloan process from any device.

"It's uploaded in real timedirectly to us," Mortgage LoanOriginator Abby Neihart said."There's very little waitingand we can communicate withthe borrower via the portal aswell."

FirstLink can direct yourapplication to the specificloan originator of your choiceor it can be submitted to thedepartment for the first avail­able lender to process to keepthe application moving for­ward efficiently. First Banklenders are available to helpthrough chat, email, phone orin person.

"Even though we have thisonline tool we're ready to meetwith any customer face toface," Assistant Real EstateManager Lesley Augedahlsaid. "We're a community bankand are always available."FirstLink also offers a

mortgage home checklist socustomers can gather the nec­essary documents and uploadthem along with the applica­tion. The portal allows homebuyers to link in their realtorsas well.

"In today's world there'sa lot going on and this allowspeople to do things when they

have the time ensures every­one is on the same page for thewhole process," Neihart said.

At First Bank, they willhelp applicants apply for thebest­suited loan package avail­able. And Augedahl said nowis a great time to buy a homewith low rates.

"There's inventory which isto the benefit of the seller," shesaid. "It's a win­win for bothsides."

Lenders utilize a varietyof loan programs to makesure you get suitable homefinancing which includes theHomeStart Grant, a downpayment assistance programfor anyone who has foundtheir first home. They are theonly institution offering thisgrant in the Cody, Powell andLovell areas. Borrowers mustcomplete a home buyer train­ing class to be eligible.

"A first­time home buyercan cover up to $7,500 towardclosing costs or a down pay­ment, which is not a bad way tostart off the first­home buyingexperience," Moore said.In furthering their efforts

of supporting the community,First Bank has a special giftfor Educators – a $500 clos­ing cost credit for a borroweremployed by a registered Pre­K, K­12, or Higher Education

Institution. This credit is avail­able to qualified borrowers ofpersonal home loan financingand refinancing that applyfrom March 1­ June 30, 2020.The grant program and closingcost credit are just a few of themany ways First Bank worksto help the community.

"We're a community bankand our goal is to take careof our customers in multiplefacets and community," Mooresaid. "Whether that's a bank­ing relationship with a savingsor checking account, a loanfor personal, business, or realestate loan purposes; we canalso help with a credit­builderaccount."

To learn more go to gofirst­bank.com.

WY0035 Cody EnterprisePage Number: n003Publication Date: 03/19/2020

Find a loan that makes you feel at home at First Bank

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County: Park

First Bank's Real Estate division includes Derek Moore, Lesley Augedahl, Sarah Polley, Stacey Lozier and Abby Neihart.

WY0035 Cody EnterprisePage Number: n003Publication Date: 03/19/2020

Find a loan that makes you feel at home at First Bank

110.98 column inches

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County: Park

Big Horn Federal is committed to local customersFounded in Greybull in 1935 as

a local community bank focused onproviding financing for homeowner­ship, Big Horn Federal's Cody Branchopened in 1967 with a similar focusand additional services.

Today, in addition to mortgageloans, the institution provides com­mercial financing for local businesses,agricultural loans for farms andranches, construction loans, homeequity lines of credit and more.

And still, Big Horn Federalremains something unique in Cody– a true community bank with all itsbranches and its corporate headquar­ters located in Wyoming.

With the bank so focused on localcustomers and local loans, it certainlyhelps when bank personnel havestrong local ties. Branch ManagerScott Petersen grew up in Cody withbanking a large part of his family'slife. For Petersen, helping customersprosper in a community he loves isspecial.

"Serving people locally and beingable to see the results of your work isextremely rewarding," Petersen says."Helping folks realize their dreamof owning a home, then seeing themmove in down the block or acrosstown, that's what makes communitybanking and Cody unique."

This commitment to local custom­ers is reflected in Big Horn Federal'sgrowing commercial loan portfolio.For those receiving financing for theirbusiness, the bank's commitmentto relationships and their ability tostructure the right kind of loan for acustomer's specific needs is reassur­ing.

"We really want to stress to ourcustomers and the greater Codyarea that we're ready to help beyondproviding home loans and savingsaccounts," Petersen explains. "Ourcommercial lending expertise isstrong, and our online business bank­ing products can be a huge help tobusiness owners."

"Being local is more than just atagline or line on a billboard for thebank," adds Heidi Schaefer, loan offi­cer. "With all six branches located inthe Big Horn Basin and a local Boardof Directors, our ability to makecredit decisions locally allows a quickturnaround for customers."

And being local carries with it asense of pride.

"We're one of the only truly localcommunity banks still around, andit's nice to know that we're focused onbeing better, not just bigger," Peters­en adds.

According to Schaefer, part of

being better means offering custom­ers options when it comes to theirloans. With her varied backgroundin real estate lending and banking,Schaefer focuses on mortgage lendingfor Big Horn Federal.

"A major part of our commitmentto Cody is real estate lending, andwe offer the opportunity to have cus­tomer loans serviced locally," Schae­fer continues. "We think our rates,customer service and ability to servicethe loans in­house provide a uniqueoption for new homeowners, or thoselooking to upgrade or build. It's greatto know that one's mortgage is ser­viced locally regardless if it's sold onthe secondary market. "

Big Horn Federal offers loan prod­ucts that match up well with larger,regional or national banks. Mortgageloans, commercial loans, agriculturalloans, home equity lines of credit,bridge loans and consumer loans allcome with competitive rates.

That ability to offer big bank ser­vices while staying true to local iden­tity and roots is also evident throughBig Horn Federal's banking technolo­gy and electronic products. The latesttechnology offers customers a varietyof services including online banking,

Please see FEDERAL, page 4Jfrom page 1JFEDERAL

mobile banking, mobile depositcapture and ACH and payrollservices, to name a few. On thecommercial side, businessessave time and money throughefficiencies in tasks such aspayroll, bill paying, electronictransfers and more.

Also popular are Big HornFederal's Christmas Club andCrayons­2­College accountsthat provide customers an easyway to save for the future. CDs,safe deposit boxes, wire trans­fers and all other traditionalbanking services are foundright at your local branch inCody or any of the five other

locations within an 85­mileradius of Cody.

Both Petersen and Schaeferappreciate the opportunity toserve customers through theconvenience of their onlineproducts, or on a more personalbasis. "I like the fact that thecustomer who likes face­to­faceconversations with someonethey know can be just as happyat Big Horn Federal as custom­ers who do all their bankingonline," Petersen says.

Schaefer agrees, adding, "Alot of people in this area appre­ciate local service, and I lookforward to the opportunity to

introduce new customers towhat truly local banking canbe."

WY0035 Cody EnterprisePage Number: n001Publication Date: 03/19/2020

Big Horn Federal is committed to local customers

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County: Park

Big Horn Federal includes (from left) Erin Farnham, Denae Thomas, Heidi Schaefer, Scott Petersen, Theresa Klass andSarah Dickson.

WY0035 Cody EnterprisePage Number: n001Publication Date: 03/19/2020

Big Horn Federal is committed to local customers

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County: Park

1st digital asset­oriented bank inU.S. could make Cheyenne homeBy Margaret AustinWyoming Tribune EagleCHEYENNE – After 22 years of

success on Wall Street, Laramienative CaitlinLong returned tothe state last year,bringing along bigdreams of block­chain's capabili­ties in Wyoming.Long an­

nounced Mondaythat she plans to

open Avanti, a bank solely for digi­tal assets like cryptocurrency thatcould be the first of its kind in thenation. And as the company's

founder and CEO, she plans toopen it right here in Cheyenne.On why she decided to start a

bank for digital assets, Long said,"Well, it doesn't exist right now."Currently, the U.S. is losing

ground in the industry becausedigital assets don't fall under the

At a glanceAvanti, a bank solely for digital assetslike cryptocurrency, could be the firstof its kind in the nation, and thecompany plans on calling Cheyennehome.

current regulatory structure,

which means they end up fallingthrough the cracks. Since the reg­ulators in Washington, D.C.,haven't kept up with changingtechnologies, Long said Wyo­ming's recent approval of bills atthe state level has positioned itwell to attract the industry."With banks not being able to

service this industry, that givesWyoming a huge opening," Longsaid.Those who own digital currency

or security tokens would be able tohouse the key to their assets withAvanti while still maintaining

See Bank, page A2

Bank: To be considered specialpurpose depository institutionContinued from A1

ownership, the same way a valet takescare of car s. Traditional banks in theU.S. don't have the capacity for suchservices, so Longis hoping to fill theniche.Avanti will "serve institutional inves­

tors wanting to invest in this new assetclass ­ digital assets," Long said.With plans to submit an application

and open up shop in early 2021, Longsaid the operation could eventually cre­ate between 30 and 40 jobs in Wyoming.While Avanti will employ some remoteworkers like many other tech compa­nies, a number of on­the­ground em­ployees will be hired for jobs likecustomer service and bank compliance.Long also said the ability to hire re­

mote workers will allow Avanti to hireemployees who live in rural parts of thestate, so long as they have an internetconnection."That's going to give us an opportuni­

ty to hire Wyoming people, even if they

don't live in Cheyenne," Longsaid.And Long, who is self­taught in the

field of digital assets, suggested any Wy­omingites interested in working for thecompany should startlearningnow."If there are people who are looking to

gain new skills and enter into a new in­dustry, my message is there's plenty oftime to learn the regulations and le arnhow digital assets work," she said.This is only the beginning of what the

blockchain will become in Wyoming,according to Long.Wyoming distinguished itself as the

nation's leader after forming a Block­chain Task Force in 2018. Since its in­ception two years ago, Wyominglawmakers have passed 13 bills to at­tract the industry to the state.And while a number of states like

Rhode Island and Colorado are learningfrom lawmakers here, passing legisla­tion that mirrors Wyoming's, DavidPope, a local CPA and co­founder of the

Wyoming Blockchain Coalition, saidWyoming still has the "first­to­market"phenomenon.When credit cards be­

came increasingly popu­lar, Sioux Falls, SouthDakota, was ahead of thecurve. And whi le otherplaces followed suit,Sioux Falls' early pursuitof the industry led to anumber of new compa­nies in the city. Long saidSioux Falls still has about16,000jobs in the finan­cial industry.And the hope is the

same thing will happenin Wyoming withblockchain.The new bank would be

considered a special pur­pose depository institu­tion, which was enabled by WyomingHouse Bill 74 lastyear. The other perti­

WY0035 Wyoming Tribune­EaglePage Number: 1Publication Date: 02/25/2020

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County: Laramie

nent piece of legislation legally definedwhat a digital asset is, making Wyomingthe first state in the nation to do so."When you define something and you

give it a specific exemption like we didin Wyoming... then people have a cer­tainty in the legal treatment ofthatpar­ticular item," Pope said.By laying out the specifics in state law,

companies who come here to do busi­ness understand their responsibilities,and judges have ground to stand on incase of a legal dispute."That also means that the contracts

have clear, legal clarity, and that was animportant building block," Long said."Without that legal clarity, there's noway that a bank would be allowed to dobusiness in this industry."The Wyoming Banking Division has

received a handful of ap­plications for specialpurpose depository insti­tutions, although none

have been approved as ofyet.Ultimately, the hope is

such institutions will in­crease the number ofcorporations that callWyoming home, butmore importantly, willincrease the revenueflowing into the state. AsWyoming grapples with a$200 million projectedbudgetdeficitfromthedecline in the mineralsindustry, and as statelawmakers focus on di­economy, the financial in­

dustry shows promising potential."We didn't want just for there to be a

lot of corporate revenue, corporate reg­istrations within the state," Pope said."What we wanted was an ecosystem thatbrought capital in and helped it remainat work within Wyoming."

Margaret Austin is the Wyoming Tribune Eagle'slocal government reporter. She can be reached atmanstin@wyomingnews.com or 307­633­3152.Follow her on Twitter at @MargaretMAustin.

"If there are peoplewho are looking togain new skills andenter into a new

industry, mymessage is there'splenty of time to

learn the regulationsand learn how

digital assets work."Caitlin Long

Founder and CEO of Avanti

WY0035 Wyoming Tribune­EaglePage Number: 1Publication Date: 02/25/2020

1st digital asset­oriented bank in U.S. could make Cheyenne home

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County: Laramie

Wyoming womanplans for nation'sfirst digital bankBy MARGARET AUSTINWYOMING TRIBUNE EAGLE

Via Wyoming News Exchange

CHEYENNE ­ After 22 years of success on WallStreet, Laramie native Caitlin Long returned to thestate last year, bringing along big dreams of blockchain'scapabilities in Wyoming.Long announced Monday that she plans to open

Avanti, a bank solely for digital assets like cryptocurren­cy that could be the first of its kind in the nation. Andas the company's founder and CEO, she plans to open itright here in Cheyenne.On why she decided to start a bank for digital assets,

Long said, "Well, it doesn't exist right now."Currently, the U.S. is losing ground in the indus­

try because digital assets don't"With banksfall under the current regula­

tory structure, which means not being ablethey end up falling through thecracks. Since the regulators in to service thisWashington, D.C., haven't kept

industry, thatup with changing technologies,Long said Wyoming's recent gives Wyoming aapproval of bills at the statelevel has positioned it well to huge opening."attract the industry."With banks not being able to CAITLIN LONG

service this industry, that gives About the potentialWyoming a huge opening," for a bank that dealsLong said. in digital assets likeThose who own digital cur­ cryptocurrency

rency or security tokens wouldbe able to house the key to theirassets with Avanti while still maintaining ownership, thesame way a valet takes care of cars. Traditional banksin the U.S. don't have the capacity for such services, soLong is hoping to fill the niche.Avanti will "serve institutional investors wanting to

invest in this new asset class ­ digital assets," Long said.With plans to submit an application and open up

shop in early 2021, Long said the operation couldeventually create between 30 and 40 jobs in Wyoming.While Avanti will employ some remote workers likemany other tech companies, a number of on­the­groundemployees will be hired for jobs like customer serviceand bank compliance.Long also said the ability to hire remote workers will

allow Avanti to hire employees who live in rural parts ofthe state, so long as they have an internet connection.

"That's going to give us an opportunity to hireWyoming people, even if they don't live in Cheyenne,"Long said.And Long, who is self­taught in the field of digital

assets, suggested any Wyomingites interested in workingfor the company should start learning now."If there are people who are looking to gain new skills

and enter into a new industry, my message is there'splenty of time to learn the regulations and learn howdigital assets work," she said.This is only the beginning of what the blockchain will

become in Wyoming, according to Long.Wyoming distinguished itself as the nation's leader

after forming a Blockchain Task Force in 2018. Sinceits inception two years ago, Wyoming lawmakers havepassed 13 bills to attract the industry to the state.And while a number of states like Rhode Island

and Colorado are learning from lawmakers here, pass­ing legislation that mirrors Wyoming's, David Pope, alocal CPA and co­founder of the Wyoming BlockchainCoalition, said Wyoming still has the "first­to­market"phenomenon.When credit cards became increasingly popular,

Sioux Falls, South Dakota, was ahead of the curve. Andwhile other places followed suit, Sioux Falls' early pur­suit of the industry led to a number of new companies inthe city. Long said Sioux Falls still has about 16,000 jobsin the financial industry.And the hope is the same thing will happen in

Wyoming with blockchain.The new bank would be considered a special purpose

depository institution, which was enabled by WyomingHouse Bill 74 last year. The other pertinent piece of leg­islation legally defined what a digital asset is, makingWyoming the first state in the nation to do so."When you define something and you give it a specific

exemption like we did in Wyoming ... then people havea certainty in the legal treatment of that particular item,"Pope said.By laying out the specifics in state law, companies

that come here to do business understand their respon­sibilities, and judges have ground to stand on in case ofa legal dispute."That also means that the contracts have clear, legal

clarity, and that was an important building block," Longsaid. "Without that legal clarity, there's no way that abank would be allowed to do business in this industry."

WY0035 News­RecordPage Number: C01Publication Date: 03/01/2020

Wyoming woman plans for nation's first digital bankBy MARGARET AUSTIN WYOMING TRIBUNE EAGLE Via Wyoming News Exchange

43.55 column inches

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County: Campbell

Wall Street vet joins crypto frayNew company also hasties to Silicon ValleyNICK REYNOLDS307­266­0634,nick.reynolds@trib.comCHEYENNE ­ A third com­

pany has entered the fray for oneof Wyoming's five cryptobankinglicenses with backing from oneof the most prominent players inthe state's burgeoning blockchainindustry.On Monday, 22­year Wall Street

veteran and Wyoming BlockchainCoalition founder Caitlin Longannounced the launch of a part­nership with the software com­pany Blockstream, which has ties

to some of the top names in SiliconValley, to found Avanti FinancialGroup. She hopes the organizationcould become one of the state'sfirst Special Purpose DepositoryInstitutions ­ one of the few in­stitutions nationally that will al­low banking with cryptocurrency.Crypto firm Kraken and re­

cently founded firm WyoFinancialhave also been floated as some ofthe other major companies se­riously pursuing charters fromthe state banking division. Bothcompanies have not yet filed of­

ficial applications with the state,an official with the WyomingBanking Division said in an emailMonday. Avanti also has yet to filean application.Long said Monday that the de­

cision to pursue a Special PurposeDepository Institution ­ or SPDI­ charter in Wyoming wasn'tsomething she had planned for,only coming after she noticed thatof the many firms that expressedinterest, only a handful had the

Please see CRYPTO, Page A8

CryptoFrom A1

seed money needed to actuallyget their institutions off theground."The groups that were trying

to get going weren't getting itdone," she said in an interview.By the time she was ap­

proached by Blockstream CEOAdam Back in December for apotential partnership, progresswas slow, and Long realizedshe was likely the only personaround who could help standup what she described as criti­cal infrastructure for the state'sblockchain industry.For Long, the partnership

made sense. Blockstream isknown for commercializing

open­source software relatedto cryptocurrencies as well asits close ties to Bitcoin, theworld's leading crypto­cur­rency. It is extremely well­fi­nanced and well­connectedand sets up Avanti Financialfor a strong starting positionin Wyoming's SPDI landscape.While other applicants are set toperform a more consumer­cen­tric role, Avanti seeks to play amore institutional role in Wyo­ming, with a focus on bankinglarger clients in the crypto worldwhile potentially collaboratingwith retail­centered firms likeKraken.

"I've heard from multiple po­tential customers that there justisn't a level of professionalismin this industry yet," Long said."And there's demand for some­one to step in and provide it."Though Long emphasizes her

pursuit of an SPDI applicationis fulfilling a necessary need foran industry she has helped geton its feet, the optics of an in­dustry insider who played a keyrole in building state regulationsfrom scratch now standing toprofit from that work are ratherglaring ­ particularly given themulti­million dollar firms likelyto pursue banking services fromher firm.

WY0035 Casper Star­TribunePage Number: 1Publication Date: 02/26/2020

Wall Street vet joins crypto frayNICK REYNOLDS 307­266­0634, nick.reynolds@trib.com52.23 column inches

Title:Author:Size:Casper, WY Circulation: 14847

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County: Natrona

Long, who noted she consid­ers herself to be "semi­retired,"points to the time she waited be­fore diving in as proof her pur­suit of a charter wasn't exactlycapitalistic."It's open­source, right?"

she said. "There was this jumpball, and I waited for others tocome. I was hoping they wouldcome on Oct. 1. And when I sawnobody was, and that there wasnobody filling this void ­ in part

because there was nobody in thisindustry with the institutionalbackground ­ that's when thisgroup approached offering tofund me to do this. That waswhen I decided to do it.""This is viewed among the

people who work with me ascritical industry infrastruc­ture," she added. "It's not goingto be connected to one exchangeor protocol or one lender. It'ssomething the industry is go­

ing to come together to support,and there are industries beyondBlockstream looking to supportthis as well."Headquartered in Cheyenne,

Avanti is expected to get off theground sometime in early 2021,with ambitions to eventually hireup to 40 employees. Most, Longsaid, will like work remotely,though a number will be locatedin their brick­and­mortar head­quarters in the capital.

KIN CHEUNG, AP PHOTO

Coins are displayed in December2017 next to a Bitcoin ATM in HongKong. A new cyptocurrency bank,created in part by a company withties to Bitcoin, is vying to becomeone of Wyoming's first SpecialPurpose Depository Institutions.

WY0035 Casper Star­TribunePage Number: 1Publication Date: 02/26/2020

Wall Street vet joins crypto frayNICK REYNOLDS 307­266­0634, nick.reynolds@trib.com52.23 column inches

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County: Natrona

Coronovirus riskremains low inwyoming

GILLETTE (WNE) ­The number of reportedcases of the coronavirusdisease continues to growaround the world, the risk

of an outbreak is still lowin Wyoming, according tothe Wyoming Departmentof Health."We have seen no

reported or suspectedcases in our state so farand that's why we aresaying the risk to our

state's residents from thisvirus is still low," said Dr.Alexia Harrist, state healthofficer and state epidemi­ologist with the depart­ment. "However, we alsoclosely tracking COVID­19and preparing as neededshould the risk for Wyo­

ming residents change."The coronavirus, known

as COVID­19 for its initialand the year in started,has symptoms that haveincluded mild to severerespiratory illness withfever, cough and shortnessof breath.

WY0035 Green River StarPage Number: 9Publication Date: 02/26/2020

Public Notices

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County: Sweetwater

Craig Dismuke, Chief Economist Craig Dismuke is Executive Vice President and Chief Economist for Vining Sparks. Craig is responsible for the projection and publication of Vining Sparks’ economic and interest rate forecasts. He publishes research articles for Vining Sparks as well as other national publications. He speaks often at industry conferences on the health of the U.S. economy and expectations for interest rates. He is a frequent guest on CNBC, Fox Business, and Bloomberg TV as well as being quoted often in the financial news. Prior to joining Vining Sparks, Craig was a Managing Director in Institutional Fixed Income at Bear Stearns and Company

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