Pub. 15 2020-2021 Issue 2

NEBRASKA BANKERS ASSOCIATION 5 JULY/AUGUST 2020 EDITORIAL: Nebraska Banker seeks to provide news and information relevant to Nebraska and other news and information of direct interest to members of the Nebraska Bankers Association. Statement of fact and opinion are made on the responsibility of the authors alone and do not represent the opinion or endorsement of the NBA. Articles may be reproduced with written permission only. ADVERTISEMENTS: The publication of advertisements does not necessarily represent endorsement of those products or services by the NBA. The editor reserves the right to refuse any advertisement. SUBSCRIPTION: Subscription to the magazine, which began bi-monthly publication in May 2006, is included in membership fees to the NBA. CONTENTS ©2020 NBA | The newsLINK Group, LLC. All rights reserved. Nebraska Banker is published six times each year by The newsLINK Group, LLC for the NBA and is the official publication for this association. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should 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 circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of the NBA, 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. Nebraska Banker is a collective work, and as such, some articles are submitted by authors who are independent of the NBA. While Nebraska Banker 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 reprintedwithout prior written permission. For further information, please contact the publisher at 855.747.4003. 22 8 PRESIDENT’S MESSAGE: LESSONS FROM THE MONTHS THAT VANISHED I look back on the past few months and wonder what happened to the spring and summer of 2020. Despite the many personal and professional challenges experienced during the COVID-19 pandemic, I have been spending some time each day in my office or at home trying to wrap my brain around lessons we have or should have learned throughout the process; what can we learn as families, bankers and community leaders? Richard J. Baier, President and CEO, Nebraska Bankers Association 10 WASHINGTON UPDATE: RUNNING TOWARD THE CHALLENGE. Is racism baked into our nation’s systems of justice, health and education, or are there disproportionate correlations between race, poverty and crime? Rob Nichols, President and CEO, American Bankers Association 12 EDUCATION CALENDAR 14 MANAGING BANK LIQUIDITY AND PERFORMANCE AFTER COVID-19 2020 will certainly be remembered as the year COVID-19 changed the world as we know it. Likewise, the associated “Lockdown Recession” is already changing the way many banks manage their balance sheets.. Andrew Okolski, Senior Financial Strategist at The Baker Group 16 LENDER LIABILITY — THE BASICS OF A MANAGEMENT PROFESSIONAL LIABILITY POLICY Lender Liability is when a lender is alleged to have violated a duty of good faith and fair dealing owed to the borrower. Approximately 40% of D&O policy claims paid fall under the lender liability insuring agreement of the policy. Mitch Florea, Vice President of Marketing, NBISCO 18 COUNSELOR'S CORNER: PROTECTION FOR LENDERS — THE EFFECTIVE FINANCING STATEMENT AND KEY COURT DECISIONS In times of economic stress, farmers sometimes sell their crops or livestock without paying their lenders. One of the tools lenders have for protecting their security interest in farm products is to comply with the Food Security Act of 1985 (the FSA) and, in a central filing state such as Nebraska, to file an effective financing statement (EFS) with the Secretary of State. Randy Wright, Nick Buda, Partners at Baird Holm LLP, and Sapphire Andersen, Law Student and Summer Associate, Baird Holm LLP 22 TECH TALK: SHOULD I TEST EMPLOYEE SECURITY AWARENESS? Becoming a Coach. If you’ve ever volunteered to coach youth sports — especially T-ball — you’ve probably learned as much as the kids about how to teach and train someone to perform an activity. The first lesson of coaching: it involves repetition. When I helped coach T-ball, our first day of practice involved running to first base over and over and coaching kids to listen to the first base coach. Shane Daniel, Senior Information Security Consultant, SBS CyberSecurity, LLC 24 COMPLIANCE ALLIANCE: FORECLOSURE PROTECTION WHERE ARE WE NOW? The COVID-19 pandemic has changed American life as we know it. As the country continues to deal with the health crisis, the effects of containment measures ripple through the American economy. Unemployment remains high as state economies expand and contract in inverse proportion to the virus’s spread. Chris W. Bell, Associate General Counsel at Compliance Alliance