February 1, 2024

ATM Thefts Reported in Kansas City Area

MBA has been notified that several banks in the Kansas City area and surrounding communities were the target of ATM thefts, including this attempt earlier this morning. The criminals targeted a certain ATM model — 6638. It was reported the thieves are wearing hoodies and white gloves, and they are driving stolen trucks.

In Missouri, it is a felony offense to destroy an ATM (known as a “smash-and-grab” crime) or attaching a skimming device to an ATM. Senate Bill 186 passed by the Missouri General Assembly and signed into law by Gov. Mike Parson in 2023 established new penalty provisions ranging from class D to class B felony, with punishment up to 10 years in prison for intentionally disabling or destroying an ATM machine or up to 15 years in prison for attaching a skimming device to the machine.

To raise awareness of this statute, MBA created stickers to place on ATMs. Placement of these stickers is not required. However, the intent is to warn criminals of the new felony penalties and alert law enforcement and local prosecutors of the section of the Missouri Criminal Code (Sections 560.010 & 570.030) under which these crimes may be prosecuted.

The stickers are free for MBA member banks. To request stickers or for more information, contact MBA Senior Vice President David Kent.  

Missouri Administrative Hearing Commission Affirms Mortgage REIT Corporate Dividend Deduction

The Missouri Administrative Hearing Commission granted its summary decision in favor of Great Southern Bancorp Inc. (parent of Great Southern Bank) that affirmed the dividend deduction for mortgage REITs from sources within Missouri. The decision was issued Jan. 26.

The dividend deduction, outlined in RSMo Section 143.431, supports liquidity and funding for residential and commercial mortgage lending in Missouri. This allows Missouri banks to better meet the needs of their customers and communities and drives economic growth, development and investment in Missouri.

The mortgage REIT dividends deduction has been in place in Missouri for decades, and several MBA banks of various asset sizes have established mortgage REIT subsidiaries to better serve their Missouri customers.

“The Missouri Department of Revenue reversed its long-standing application of the state tax code as plainly written by taking a strained reinterpretation in a tax audit of Great Southern Bancorp for the 2014 and 2015 tax years,” said MBA General Counsel Keith Thornburg. “The department claimed income tax deficiencies in the amounts of $1.4 million and $1.9 million, respectively.” 

Thornburg added that DOR never sought to document and publish this change in a transparent notice and comment rulemaking, nor took the matter to the Missouri General Assembly. 

“We are pleased the commission affirmed the bank and our industry’s position,” said MBA President and CEO Jackson Hataway. “The decision will keep Missouri’s economy and communities strong. This is especially important in today’s market where the Federal Reserve System has increased interest rates and placed great strains on commercial and residential lending and our customers.”

MBA will encourage DOR’s director and Gov. Mike Parson’s administration to accept the commission’s plain and correct reading of the Missouri tax code. If DOR appeals, then MBA will ask the Missouri Supreme Court to affirm the commission’s decision.

The case is Great Southern Bancorp Inc. v. Director of Revenue, MO AHC Case No. 21-1768.

MBA Target Banker Visits Begin Next Week

MBA will welcome bankers from across the state during the state legislative session for its Target Banker program that begins next Tuesday, Feb. 6. Target Banker visits are held Tuesdays and Wednesdays during the months of February, March and April.

“Our Target Banker visits make it easy for bankers to schedule a day at the Capitol to learn about key banking bills and advocate on behalf of your bank with the support of our staff,” said MBA Vice President Emily Lewis.

Target Banker visits begin with a briefing with MBA staff at MBA’s office. Staff will then accompany bankers to the Capitol for their meetings with senators and representatives. After the meetings, bankers are welcome to join MBA staff for lunch to recap the day’s events.

“Target Banker visits provide an opportunity to learn about the legislative process, get to know your lawmakers and have your voice heard as you take part in MBA’s state advocacy efforts,” Lewis said. “The more bankers participate, the more it amplifies our message to lawmakers.”

This session, the credit union association has again filed legislation in the Missouri Senate and Missouri House of Representatives to expand their field of membership. Their bills would allow a single credit union to access nearly the entire state. The largest credit unions could further expand and increase their business lending to compete more directly with banks.

"Credit union employees and members have been in the Capitol every week telling lawmakers that banks oppose these bills because they are afraid of competition," Lewis said. "Bankers need to fight back and educate their legislators on the unlevel playing field caused by the credit unions’ federal tax exemption."  

MBA is supporting a cap increase for the MOBUCK$ program. Legislation is moving through the Senate and House that would raise the amount the state treasurer may invest in MOBUCK$ from $800 million to $1.2 billion.

“Bankers need to be present at the Capitol,” Lewis said. “It’s vital that lawmakers hear directly from you, their constituents, about how legislation significantly affects your customers and communities.”

MBA Accepting Applications for Bankers to Serve on Boards, Committees

Bankers can enhance their leadership skills through volunteer opportunities from MBA. Each year, MBA seeks bank employees with a variety of skills and expertise to serve on various committees to increase their engagement with MBA and the banking community.

“Bankers serving on our committees provide a valuable resource to our association and the banking community,” said MBA Director of Member Services Melissa Hart. “Their participation on these boards and committees allows bankers to share their knowledge and expertise with fellow bankers, as well as advise MBA on various issues.”

MBA currently seeks bankers to serve on its boards and committees for the upcoming year (2024-2025), including two new committees — lending and credit and communications/marketing. Each offers opportunities to be more engaged with MBA and the banking community. Please review the leadership opportunities and email completed applications to Peggy Mantle by Friday, Feb. 16. MBA appreciates your involvement with the association.

MBA Conference Focuses on HR, Marketing Trends in Banking

MBA is excited to kick off its conferences for 2024 this spring, and the first conference of the year is a new one!

Designed exclusively for bank HR and marketing professionals, MBA’s Human Resources & Marketing Conference highlights trends, strategies and challenges in the ever-evolving world of HR and marketing. The conference is March 19-20 at the Holiday Inn Executive Center in Columbia.

“Each day will begin and end with general sessions, and the rest of the time will be devoted to tracts focusing exclusively on HR and marketing,” said MBA Senior Vice President Cheri Messerli. “You’ll gain fresh perspectives and practical knowledge to enhance recruitment and retention initiatives and drive growth, creativity and customer satisfaction.”

General sessions focus on employee engagement, AI in banking, competitive culture and transformation. The HR tract highlights onboarding, employee benefits, hot topics and legal cases. For the marketing tract, sessions dive into digital strategies, marketing and compliance, department/team structure and strategic planning.

A room block for the conference has been secured, and the deadline to receive this room rate is Feb. 18.

Banking Associations to Host FDIC Directors College

The Federal Deposit Insurance Corporation, in partnership with MBA and Missouri Independent Bankers Association, is pleased to announce the 2024 Directors College that is scheduled Tuesday, April 16, in Columbia. This seminar features presentations from FDIC subject matter experts that will include up-to-date information on issues relevant to all bank directors, with an overall theme of corporate governance.

“We encourage bankers to consider this unique opportunity to interact with your bank’s regulators and enhance your board’s experience and knowledge,” said MBA Senior Vice President Cheri Messerli.

The seminar is designed for bank management teams, directors, significant shareholders, senior officers, new directors, advisory directors and compliance officers. Sessions will address accounting, ag loan analysis and classification, capital markets hot topics, consumer protection, cybersecurity and insider abuse prevention.

A room block for the conference has been secured, and the deadline to receive this room rate is March 17.

Encourage High School Students to Apply for MBA Scholarships

Missouri high school seniors pursuing a banking-related degree program in college can apply for scholarships from the Missouri Bankers Foundation. The deadline to submit applications is Friday, March 1.

“These scholarships support the next generation of Missouri bankers,” said MBA Director of Member Services Melissa Hart. “We encourage our members to share information about this scholarship with their customers and local schools.”

To aid banks in sharing details about the scholarship, MBA has created a flier that can be co-branded with the bank’s logo.

“The scholarship does require applicants to have a signature from a banker, so please let your staff know that students may be asking for a signature to complete their application,” Hart said.

MBA also encourages banks to share MBA’s social media posts about the scholarship.

The foundation will award seven $1,000 scholarships to cover first semester tuition and/or college expenses. One scholarship recipient will be chosen from each of the seven MBA geographical regions. Award recipients will be announced in May.

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