Unique Benefits and Challenges of Closely Held Banks
November 9 & 10, 2020
9 am – 12 noon
Family-owned, closely-held, and independent community banks enjoy many advantages and provide a critical service in many Mississippi communities. These banks benefit from close ties to their communities and markets, deeply rooted management that can make decisions with local expertise, and can nimbly react to customer needs. Conversely, closely held banks face unique challenges. Many deal with the same hurdles as other, larger banks such as regulatory costs, ever-growing competition and revenue challenges. This program is a forum for senior management and directors (both inside and outside) at local institutions about issues that are unique to family-owned, closely-held banks, and independent banks. Speakers for this event include attorney and consultant Greyson Tuck of Gerrish Smith Tuck law firm in Memphis, Tennessee; and Heather Archer Eastep, attorney with Hunton Andrews Kurth law firm. A panel discussion, facilitated by MBA President and CEO Gordon Fellows, and featuring bankers from some of Mississippi’s closely held banks, will answer questions common to this section of the MBA membership.
Who Should Attend?
CEOs, CFOs, Directors, Senior Management of Closely Held Community Banks
Program Agenda
Monday, November 9
8:30 am – Welcome - Gordon Fellows, MBA President and CEO
Andy Anderson, MBA Chairman; CEO – Bank of Anguilla, Anguilla
8:45 – 10:30 am – TEN THREATS TO INDEPENDENT BANKS AND STRATEGIES TO OVERCOME THEM
Greyson Tuck, Gerrish Smith Tuck, Memphis, TN
Ensuring the ongoing independence of a closely-held community bank is no simple task. There are multiple challenges to ongoing independence that must be overcome. A top priority to ensuring ongoing independence is recognizing the substantial threats to independence and understanding and implementing the available strategies to respond to and overcome these threats. This session will identify the top threats to the ongoing independence of closely-held community banks, and will provide valuable advice and practical strategies to respond to and overcome these threats. This engaging and informative session should not be missed by any closely-held bank that is looking to ensure its ongoing independence.
10:30 – 10:45 am Coffee Break
10:45 – 12 noon – MAXIMIZING THE COMMUNITY BANK HOLDING COMPANY STRUCTURE
Greyson Tuck, Gerrish Smith Tuck, Memphis, TN
The vast majority of community banks in America are in a bank holding company corporate structure. However, many community bank holding companies do not utilize this corporate structure to their full extent. This presentation will take an in-depth look at the community bank holding company structure, and will provide specific tips, strategies and considerations in order to maximize its benefits. This session will provide an overview of how the community bank holding company provides benefits related to capital raising, stock liquidity, alternative lines of business, income diversification and corporate governance.
12 noon – Adjourn
Tuesday, November 10
8:45 am – 10 am – CAPITAL OFFERINGS AND PLANNING – KEY CONSIDERATIONS FOR BANK EXECUTIVES
Heather Archer Eastep, Hunton Andrews Kurth, Washington, DC
In this evolving economic and regulatory environment, capital remains an important element for banks, whether the bank intends to grow organically or acquire other institutions. Many banks are seeking alternative forms of capital to fund growth opportunities and enhance enterprise value in light of recent legislation and the current economic environment. This presentation will discuss keys to capital plans and planning, as well as describe a number of creative ways community banks can raise both offensive and defensive capital in the current market.
10– 10:15– Coffee Break
10:15 – 11:15 am - SUCCESSION PLANNING: ADDRESSING MANAGEMENT, BOARD, AND SHAREHOLDER SUCCESSION
Peter Weinstock, Hunton Andrews Kurth, Washington, DC
Most community banks provide for a business plan that touches on SWOT analysis (strengths, weaknesses, opportunities and threats) and then discusses a couple of initiatives for the new year. Those business plans miss key issues for keeping a bank independent. This presentation will delve into strategies for management and board succession, as well as ownership options in order for a bank to have the flexibility to decide to remain independent.
11:15 - 12 Noon – PANEL DISCUSSION – Facilitator Gordon Fellows;
12 Noon – Adjourn
Registration Fees
_____ $599 for Member Banks/location* _____ $1099 for Non-Member Banks/location*
_____ $899 for Member Banks/location* PLUS recording of all sessions for 30 days
*Virtual conferences allow for BANKS to register by location (device) instead of by individual banker.
So, round up your bank directors (inside and outside) at YOUR bank for 2 mornings of thoughtful conversation and recommendations for remaining an independent bank.
About our speakers:
Heather Archer Eastep is a partner at Hunton Andrews Kurth. Her practice focuses on corporate and regulatory representation of small to large regional and national financial institution franchises. She has counseled institutions on M&A transactions, as well as provided representation on securities offerings, capital planning, and corporate restructuring. She also advises financial institutions and financial service providers on emerging regulatory and compliance issues, mostly recently related to high-risk customers and Fintech opportunities. She is a member of the American Bar Association, Banking Law Committee and the Virginia Bankers Association. She received her LLM, from Georgetown University, with distinction in 2003 and her JD from George Mason University Antonin Scalia Law School, cum laude in 2000.
Greyson Tuck is a member of the board of directors of both the Memphis based law firm of Gerrish Smith Tuck, PC, Attorneys and Gerrish Smith Tuck, Consultants, LLC. These two firms have assisted numerous community banks in virtually every state across the nation. Tuck’s legal and consulting practice places special emphasis on community bank holding company formation and use, community bank mergers and acquisitions, regulatory matters, corporate reorganizations, corporate taxation, general corporate law and community bank strategic planning.
Tuck comes from a community banking family. He is a graduate of the University of Tennessee, where he majored in Accounting and Finance, and received his law degree from the University of Memphis Cecil C. Humphreys School of Law, where he was a Herff Scholar. He is a frequent presenter at national and state bank association conferences and has authored a number of articles of interest to financial institutions. He is a member of the Tennessee Bar Association and an active participant in the Memphis Bar Association.
Peter Weinstock is a partner at Hunton Andrews Kurth, LLP, Peter’s practice focuses on corporate and regulatory representation of financial institution and financial service franchises. During the past several years, Peter has devoted substantial time to strategic planning, bank compensation and defense of enforcement matters, including concerning fair lending and BSA. He is Practice Group Leader of the Financial Institutions Section. He has counseled institutions on more than 300 M&A transactions, hundreds of securities offerings, including over a dozen IPOs, and capital planning, over 50 de novo banks and hundreds of administrative and other enforcement actions. He was a guest lecturer for Harvard’s Kennedy School of Public Policy in Beijing, China in 2017.
Registration Form for
MBA Unique Benefits and Challenges for Closely Held Bank Seminar
Virtual Program
November 9 - 10
BANK/COMPANY NAME:______________________________________________________
REGISTRANT NAME:__________________________________________________________
CELL NUMBER:_______________________________________________________________
EMAIL ADDRESS:_____________________________________________________________
Registration Fees
_____ $599 for Member Banks/location* _____ $1099 for Non-Member Banks/location*
_____ $899 for Member Banks/location* PLUS recording of all sessions for 30 days
*Virtual conferences allow for BANKS to register by location (device) instead of by individual banker.
So, round up your bank directors (inside and outside) at YOUR bank for 2 mornings of thoughtful conversation and recommendations for remaining an independent bank.
Due to COVID 19, the MBA requests all payments be made by credit card.
TO REGISTER: Copy and paste and email completed form to lrichardson@msbankers.com
QUESTIONS: Contact Lori Richardson (601) 709-3736 or email the address above.
Credit Card Information
Name on Bank Card_____________________________________________________________
Credit Card Number_____________________________________________________________
Expiration Date___________________________CVV_________________________________
Billing Zip Code_____________________________________