Pub. 11 2016-2017 Issue 6

March/April 2017 27 Extraordinary Service for Extraordinary Members. WALENTINE O’TOOLE, LLP When time is of the essence, experience counts. Walentine O’Toole blends confidence, experience and knowledge with the personal attention you can expect from a regional law firm. www.w alentineotoole .com 402.330.6300 11240 Davenport St . • Omaha, NE 68154-0125 For more information, contact Gene Uher at (605) 201-1864 or guher@bellbanks. com. Uher is a senior vice president and correspondent banking business development officer for Bell Bank, the largest independently owned bank in North Dakota, South Dakota, and Minnesota, with more than $4 billion in assets. Bell handles close to $500 million in bank stock loans and participations. Uher was born and raised in Howells, Neb., and has worked in banking for more than 40 years. He has been with Bell since 2009. Bell Bank is an equal housing lender, member FDIC. When working with a correspondent bank, it’s important to make sure you have a strong partner on your side. To do so, here are a few questions you should ask: • Is the correspondent bank large enough to take the entire participation? Working with only one cor- respondent makes your staff more efficient. You’ll also want to make sure the bank can take larger portions of your cred- its to allow you to keep within your asset-liability committee (ALCO) limits. • Does the correspondent offer longer fixed terms? Make sure the correspondent you decide to work with can give you the flexibility you need. • How much experience does the correspondent have? During the recession of 2007- 2009, many banks stopped pur- chasing loans from community banks. They might have since re-entered the game, but if they got out once, think about what might happen the next time a re- cession hits. When looking for a correspondent banking partner, make sure the bank has a strong commitment to correspondent banking. Banks experienced in correspon- dent banking look to do more than either decline or approve a loan. They find ways to work with community banks to make a participation deal better. Their job is to help the correspondent make the loan more solid. • Does the bank offer participa- tions on agricultural loans? It’s a challenging time in the ag industry, so it’s especially important to look for a banking partner experienced in ag lend- ing and committed to helping you take care of your ag customers. Experienced ag lenders know that the ag economy is cyclical, and many of them have been through harder times than this. A correspondent banking partner with ag lending experience can help you compete for and retain larger, high-quality agri-business customers. Correspondent banks are not in competition with you, but work as your business partner. Regardless of whether you are a bank with few or many shareholders, if you want to sell your institution or purchase another, it’s important to keep your organization strong through a solid balance sheet and great earnings. It’s also crucial to have a strong customer base. A correspondent bank with a strong, experienced correspondent banking department can help. 