Pub. 5 2014 Issue 3

www.wvbankers.org 4 West Virginia Banker 22 10 6 Credit Unions Want it Both Ways It’s exactly the reaction I have to the credit union industry’s latest incursion into the commercial banking marketplace. There they go again. By Joe Ellison, President & CEO 8 Meet Your Chairman Charles “Skip” Hageboeck My goal for the WVBA this year is to be responsive to the needs of our members. It is shaping up to be a busy year as we begin to envision how the WVBA can best fulfill its mission of serving our members, and providing a strong voice at the state legislature, in the years ahead. 10 Your Bond Portfolio Does Not Live Alone Like a typical household, a typical community bank has a variety of diverse characters under its roof. By Lester Murray, Sr. Vice-President / Financial Strategies Group, The Baker Group 12 Tax Increment Financing Provides Unique Opportunities for West Virginia Lenders For financial institutions, accepting state and municipal deposits can be an affordable way to increase liquidity, restore capital investment and participate in the communities they serve. By Carrie J. Cecil, Spilman Thomas & Battle, PLLC 14 New Interagency Guidance for Tax Allocation Agreements In some cases, the court has classified the relationship between a holding company and a subsidiary IDI as that of a debtor and its creditor. By Joseph W. Hager, Arnett Foster Toothman PLLC 18 West Virginia’s Wage and Hour Laws are Changing The new year will bring some big changes in West Virginia wage and hour law. By Brian M. Peterson, Attorney, Bowles Rice LLP 20 Thank you To Our Sponsors 21 121 st Annual Convention 22 Five Basic Steps for Dealing with Cybersecurity Threats Recent legal headlines have been filled with news about data breaches and lapses of information security across all sectors of the economy. By Kurt R. Hunt, member of Dinsmore & Shohl, LLP’s Corpporate Cepartment 24 Get More From Your Core Through Digital Channel Integration Banking is all about channels. And as the battle for customer acquisition and retention escalates, victory exceedingly hinges on a bank’s ability to provide an integrated channel experience that gives customers one place to logon, make transactions, ask questions—and get the same real-time answer no matter which channel they use. By Nathan Tatum, Vice President of Business Development, CSI Meridian 27 How Does a Charged-off Checking Account Become a Minefield of Issues? We’ve recently been made aware of a process that quite a few banks have been doing for many years that could very easily cause the bank many issues with the regulatory agencies. By Darlia Fogarty, Director of Compliance, Compliance Alliance 30 Live Seminars & Schools