Pub. 3 2015 Issue 2

Issue 2. 2015 3 8 16 UBA Board of Directors 2015/2016 ©2015 Utah Bankers Association | The newsLINK Group, LLC. All rights reserved. Utah Banker is published quarterly each year by The newsLINK Group, LLC for the Utah Bankers Association and is the official publication for this association. The information contained in this publication is intended to provide general information for review and consideration. The contents do not constitute legal advice and such not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your specific circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of the Utah Bankers Association, its board of directors, or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. Utah Banker is a collective work and as such some articles are submitted by authors that are independent of the Utah Bankers Association. While the Utah Bankers Association encourages a first print policy, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior permission. For further information, please contact the publisher at: 855.747.4003. CHAIRMAN Jill M.Taylor Regional President,Consumer and Small Business KeyBank Salt Lake City,UT VICE CHAIRMAN CraigA.White President & CEO Utah Independent Bank Beaver,UT 2NDVICE CHAIRMAN Ron Ostler Chairman Comenity Capital Bank Salt Lake City,UT IMMEDIATE PAST CHAIRMAN Kelvin L.Anderson President & CEO Optum Bank Salt Lake City,UT COMMUNITY BANKADVISORY CHAIR Brad R.Baldwin President & CEO First Utah Bank Salt Lake City,UT REGIONAL BANKADVISORY CHAIR Dee O'Donnell Utah Regional President Wells Fargo Salt Lake City,UT INDUSTRIAL BANKADVISORY CHAIR Donald Poulton President/CEO Medallion Bank Salt Lake City,UT PRESIDENT Howard M.Headlee President Utah BankersAssociation Salt Lake City,UT BOARD MEMBERS A.ScottAnderson President & CEO Zions Bank Salt Lake City,UT RichardT.Beard President and CEO,People’s Utah Bancorp CEO,Bank ofAmerican Fork American Fork,UT Robert Garinger President & CEO American Express Centurion Bank NewYork City,NY K. John Jones President & CEO First National Bank Layton,UT Richard Lake President Merrick Bank South Jordan,UT Damon G.Miller Utah Market President U.S.Bank Salt Lake City,UT MarkW.Packard Senior ExecutiveVice President Central Bank Springville,UT Steve Sala President TAB Bank Ogden,UT Erich Sontag President, Intermountain Banking AmericanWest Bank South Jordan,UT Katie Spratling President Holladay Bank &Trust Salt Lake City,UT Frank K.Stepan Executive Director Morgan Stanley Bank Salt Lake City,UT M.Craig Zollinger Utah President & CEO JPMorgan Chase Salt Lake City,UT 4 Moving Towards the Politics of Results From the very beginning of the economic collapse, many politicians have tried to push responsibility for the crisis onto the banks. By Howard Headlee, President 5 Jill Taylor Elected To Head the Utah Bankers Association; Bankers Elect New Officers and Directors The Utah Bankers Association has elected new officers and board members for 2015- 2016. 6 What Do You Need to Know About theFFIECCybersecurity Assessment Tool? As promised in their 2014 Cybersecurity Observations publication, the FFIEC has released new guidance in the form of a Cybersecurity Assessment Tool. By Jon Waldman – Partner, Secure Banking Solutions, LLC Secure Banking Solutions, LLC 7 40 Year Service Awards Six bankers were honored with 40 Year Service awards at the 107th Annual UBA Convention held in Sun Valley in June. 8 107th Annual Utah Bankers Association Convention Bankers from across Utah joined together for the 107th Annual Utah Bankers Association Convention. 12 Compliance Corner Two Updates You Need to Know Now In our fast-paced industry, it can be easy to miss important updates on the day-to-day. In the last few months, there have been some important and interesting developments which could affect your bank. By Silvia Garcia Maggio 14 Our Way Through How government-guaranteed loans helped our Utah community bank through the Wall Street financial crisis By Bruce T. Jensen 16 Education Corner UBA Development Series The UBA is proud to help build the founda- tion of future leadership at Utah banks by offering the following series of development programs, each specifically designed to groom our industry’s rising stars. By Becky Wilkes 18 Bank Kudos 22 Bankers on the Move 24 UBA Associate Members