Pub. 4 2013 Issue 3

www.wvbankers.org 4 West Virginia Banker 22 9 7 Joe’s Musings As I write this article for the fall edition of the West Virginia Banker , it is hard to believe that I’ve just started my ninth year as your Association’s CEO. By Joe Ellison, President and CEO 8 Meet Your Chairman How I got into the banking business: By Michael Leiving, President of West Virginia Division 9 Recent Decisions Enforcing Arbitration Provisions For banking executives and in-house counsel, arbitration can be a preferable alternative to litigation to avoid costly trials and home-town advantages. By Angela L. Beblo, Brienne T. Marco, and Sarah B. Smith Spilman Thomas & Battle, PLLC 12 Lack of Succession Planning Threatens the Future of Many Banks By the year 2016, it’s estimated that 60 percent of today’s CEOs in the banking industry will be retired – and there aren’t enough candidates in the leadership pipeline to handle the demand. By Brian Rhonemus 16 Holding Lenders Liable for Auto Dealers’ Interest Rate Decisions – New CFPB Strategy Lacks Transparency and Creates Uncertainty for Lenders A recent proclamation by the Consumer Financial Protection Bureau (CFPB) makes clear the intent of the agency in enforcing the Equal Credit Opportunity Act (ECOA) to hold indirect auto lenders liable for auto dealers’ illegal rate markup practices. By Charles F. Printz, Jr. and Sandra M. Murphy 18 Practical Considerations for dealing with OREO Properties — Part II – Post-Sale Considerations Once taken into a lender’s inventory, these “OREO” (Other Real Estate Owned) properties can pose challenges to lenders if they are not prepared. This article will provide some suggestions for lenders faced with managing OREO properties post-foreclosure. 20 Social Media — Uses, Benefits and Risks It seems we hear about a news event involving social media every day. Whether it is in world news, politics, entertainment and sports, social media seems to be the source of a large amount of publicity. By Chris Joseph, CPA, CISA, CRISC, CITP 22 Do Surging Deposits Mean Surging Risks? We’ve all been warned about the negative consequences of having “too much of a good thing.” By Lester Murray, Sr. Vice-President/Financial Strategies Group The Baker Group 24 Calendar of Events 26 Taking the Pain Out of Core Conversions Why do bankers fear core conversions? One factor is the fear of change itself – has the bank made the right decision in investing heavily in a technology platform that will be the backbone of all bank operations? By David Hyberger is vice president of conversions for Computer Services, Inc. (CSI) By David Thomas and Michael Proctor