Independent Banker - January 2021 - 43

Budgeting for increasing
compliance costs
ANB Bank in Denver has a robust and
appropriate compliance program and a good
compliance culture, but it's not something president
and CEO Koger Propst takes for granted. He says
compliance is fragile by nature, and the bank will
have to maintain its level of investment to ensure its
continued success.
That sentiment is a theme among community
bank CEO respondents to our survey, with 64.6%
anticipating spending roughly the same amount on
compliance in 2021 as they did in 2020. Another third
expect compliance spending to increase by at least
5%. Just 1.7% expect compliance costs to decrease
by 5% or more. These figures are almost identical to
2020's survey findings.
Bank of the West in Grapevine, Texas, will be
transitioning to a more eff icient platform and hiring
more staff .
" With any process or pandemic, you really want to
make sure you're crossing your t's and dotting your
i's, " says Cynthia Blankenship, vice chairman and
corporate president. " Traditionally, we've had really
good ratings, but that's something we don't want to
let slip through the cracks. "
1.8%
Decrease by
at least 5%
Do you anticipate spending
more or less money on
compliance in 2021?
2.2%
Not sure
yet
31.4%
Increase by
at least 5%
64.6%
Roughly
the same
PPP, deferrals and other tools to
aid customers.
" I've been in banking 37 years, and
this is defi nitely the most uncertain
environment I feel I've ever been
in, " Propst says. " What we've done
to prepare for that, even though we
haven't seen an increase in problem
loans, is to signifi cantly raise loan-loss
provision expenses, provide fl exibility
to borrowers, loan deferrals, waiving
fl oor rates, and other actions, just to
be conservative. "
At $1.2 billion-asset Opportunity
Bank of Montana in Helena, Mont.,
staffi ng and protecting employees
will continue to be the bank's greatest
challenge heading into 2021. With
22 locations across the state and
more than 350 employees, the bank
" For all community banks,
the question is: Do you have the
discipline and all of the other
attributes that you need?
We'll either prove it or we
won't. I think we will. "
-Koger Propst, ANB Bank
independentbanker.org Q 43

http://www.independentbanker.org

Independent Banker - January 2021

Table of Contents for the Digital Edition of Independent Banker - January 2021

Table of Contents
Independent Banker - January 2021 - Intro
Independent Banker - January 2021 - Cover1
Independent Banker - January 2021 - Cover2
Independent Banker - January 2021 - Table of Contents
Independent Banker - January 2021 - 2
Independent Banker - January 2021 - 3
Independent Banker - January 2021 - 4
Independent Banker - January 2021 - 5
Independent Banker - January 2021 - 6
Independent Banker - January 2021 - 7
Independent Banker - January 2021 - 8
Independent Banker - January 2021 - 9
Independent Banker - January 2021 - 10
Independent Banker - January 2021 - 11
Independent Banker - January 2021 - 12
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Independent Banker - January 2021 - 16
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Independent Banker - January 2021 - 18
Independent Banker - January 2021 - 19
Independent Banker - January 2021 - 20
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Independent Banker - January 2021 - 25
Independent Banker - January 2021 - 26
Independent Banker - January 2021 - 27
Independent Banker - January 2021 - 28
Independent Banker - January 2021 - 29
Independent Banker - January 2021 - 30
Independent Banker - January 2021 - 31
Independent Banker - January 2021 - 32
Independent Banker - January 2021 - 33
Independent Banker - January 2021 - 34
Independent Banker - January 2021 - 35
Independent Banker - January 2021 - 36
Independent Banker - January 2021 - 37
Independent Banker - January 2021 - 38
Independent Banker - January 2021 - 39
Independent Banker - January 2021 - 40
Independent Banker - January 2021 - 41
Independent Banker - January 2021 - 42
Independent Banker - January 2021 - 43
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Independent Banker - January 2021 - 46
Independent Banker - January 2021 - 47
Independent Banker - January 2021 - 48
Independent Banker - January 2021 - 49
Independent Banker - January 2021 - 50
Independent Banker - January 2021 - 51
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Independent Banker - January 2021 - 53
Independent Banker - January 2021 - 54
Independent Banker - January 2021 - 55
Independent Banker - January 2021 - 56
Independent Banker - January 2021 - 57
Independent Banker - January 2021 - 58
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Independent Banker - January 2021 - 68
Independent Banker - January 2021 - Cover3
Independent Banker - January 2021 - Cover4
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