New Orleans-based First NBC Bank’s Holding Company announced the

l e a d e r s h i p transition plan recently in a news release that stated the plan is “designed to strengthen the company’s op-erations and to best posi-tion First NBC for the future.”

The changes are subject to regulatory approvals. According to Lance Traweek, manag-ing editor of New Orleans City Business, the release states the bank’s intent to sepa-rate the roles of CEO and president, with longtime leader and founder Ashton Ryan Jr. continuing as president and a member of the boards of directors for the bank and its parent company. The board has appointed Hermann “Buck” Moyse III as interim CEO and Marsha Crowle as interim COO. Moyse has served as board chairman of First NBC Bank since September and as a bank director since its inception in 2006. Crowle has served as a senior EVP and will continue to serve as chief compliance officer of First NBC. In September, the holding company board appointed Shivan Govindan as chairman to take over the title previ-ously held by Ryan Q

American Bank, N. A., Corpus Christi, TX, has reported that Mark Meyer has been pro-moted to se-nior executive vice president and chief lend-ing officer. Making the an-nouncement was Richard Scanio, the bank’s presi-dent/CEO. Meyer re-tains his responsibilities as chief lend-ing officer and will serve on the bank’s newly-formed executive management team, which includes Chairman of the Board Ben Wallace, President/CEO Scanio, and Senior Executive Vice President and Chief Operating Officer Stephen Raffaele.

Volume 149, No. 24December 26, 2016 www.bankersdigest.com

Meyer Upped to EVP/Chief Lending Officer, American Bank, N. A., Corpus Christi, TX

First NBC Bank’s Ryan Gives Up CEO

Ryan

FINCEN Issues Final Customer Due Diligence Requirements for FIsFeature..............................................3

In This Issue...

Published weekly on Mondays except fifth Mondays

Meyer

Meyer joined American Bank in 1997 as a senior lending officer. He holds a BBA degree in finance from The University of Texas. Active in the community, he currently serves on the boards for the South Texas Na-val Foundation and the South Texas Council Boy Scouts of America, and is a Class 17 graduate of Leadership Corpus Christi. American Bank was founded in 1970 and is the largest locally-owned and independent financial institu-tion in the Corpus Christi area, with assets totaling over $1.2 billion as of September 30, 2016. The bank has 12 branches: six in Corpus Christi; one each in Port Aransas, Rockport, Go-liad, and Victoria; and two in Austin (Downtown and Westlake). A third Austin location, a loan production of-fice, is located in Austin’s The Domain area in Northwest Austin Q

Fehrle

Fehrle Promoted to EVP, Quail Creek BankCarol Fehrle has been promoted to executive vice president and COO at Quail Creek Bank, N. A., O k l a h o m a City, OK, said Doug Fuller, presi-d e n t / C E O . She has also been elected to serve as a member of the bank’s board of directors. Fehrle is a 25-year bank employee and previously served as senior vice president and COO.

She has served in many areas of the Quail Creek Bank, including account-ing, compliance, data processing, and customer service. Fehrle, a CPA, holds a BS degree in accounting from the Central State University. She is a 2015 graduate of the Executive Development Institute for Community Banks at the Graduate School of Banking at Colorado and a graduate of the BAI Graduate School of Banking. She has also been active in com-munity and civic organizations in the Oklahoma City area, currently in-volved with the United Way and serves on two committees with the OSCPA in financial literacy and banking, and other financial institutions Q

Page 2 BANKERS DIGEST December 26, 2016

The Independent Bankers Associa-tion of Texas (IBAT), Austin, has an-nounced that Joe Kim King, chair-man of the board and CEO of Texas Country Banc-shares in Brady, will serve as chair-man of the IBAT Services board of directors as well as chairman-elect of the IBAT board, both for 2016-2017. He officially accepted these positions during the association’s 42nd annual convention held in late September in San Antonio. Incorporated in 1984, IBAT Services is a subsidiary of IBAT formed to mar-ket IBAT endorsements. As delegated by the IBAT board, IBAT Services iden-tifies and reviews products, services and providers that assist member

Centennial BANK Chief Lending Officer C. Brett McDowell announced the re-cent hiring of Kathy McDowell (no rela-tion) as vice presi-dent and director of marketing. She serves at the bank’s corporate location in downtown Lub-bock and will man-age marketing and public relations for Centennial BANK statewide. Since graduating from Texas Tech University with a BA degree in public relations, McDowell has built a re-sume which includes more than six of her 10 years in the field in the market-ing department of the former Ameri-can State Bank in Lubbock. Raised in the Dallas/Fort Worth area, McDowell moved to Lubbock in 2001. She is a member of the Young Profes-sionals of Lubbock. She and her hus-band own a local home theater, auto-mation, and security systems business. Centennial Bank, a $716 million-asset institution, operates 14 banking centers in the Hill Country, Lubbock, and the Panhandle/South Plains Q

P E O P L E TEXAS

Brady Banker King to Serve as IBAT Services Board Chairman and IBAT Board Chair-Elect

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In This Issue...FINCEN Issues Final Customer Due Diligence Requirements for FIs Feature..............................................3

Newswatch...................................6-8

Charter Activity..............................9

Classified.......................................10

King McDowell

McDowell Named Marketing Director, Centennial BANK

banks in maintaining their competi-tive position in the marketplace. In his role as IBAT Services chairman, King will lead this process, which will help prepare him for his role as IBAT board chairman for 2017-2018. A native of Brady, King has 36 years of experience in the banking industry. He previously served as president of First National Bank in Lockney and First National Bank in Plainview. He received a BS degree in animal science from Texas Tech University, a masters of agriculture degree from Texas A&M University, and is a graduate of the Graduate School of Banking at LSU. Texas County Bancshares is a $250 million organization with two bank charters and four locations, including Bank of San Angelo branch and FNBB Texas loan production office in Fort Worth. Additionally, King serves as chair-man of the board for Brady National Bank, headquartered in Brady, and as a board member for Citizens Bank, N. A., in Abilene; Bank of Texas in Mid-land; and TIB-The Independent Bank-ersBank, Dallas Q

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December 26, 2016 BANKERS DIGEST Page 3

F E A T U R E

B D

FEATURE

ByDianne Dennis,

Texas Department of BankingTexas Bank Report

December 2016www.dob.texas.gov

D U E D I L I G E N C E FINCEN Issues Final

Customer Due Diligence Requirements for FIs

(continued on Page 9)

On May 11, 2016, the F i n a n c i a l Crimes En-f o r c e m e n t N e t w o r k (FinCEN) is-

sued its long-awaited “Customer Due Diligence Requirements for Financial Institutions” rules under the Bank Secrecy Act (BSA). The final rule be- came effective on July 11, 2016, but fi-nancial institutions have until May 11, 2018, to comply with the regulations. This rule imposes four core elements of customer due diligence (CDD) that FinCEN believes should be explicit requirements in a bank’s Anti-Money Laundering (AML) program and cre-ates a fifth pillar of the AML compli-ance program. The four CDD elements are:1) Customer identification and verifi-cation,2) Beneficial ownership identification and verification,3) Understanding the nature and pur-pose of customer relationships to de-velop a customer risk profile, and4) Ongoing monitoring for reporting suspicious transactions and, on a risk-basis, maintaining and updating infor-mation on beneficial owners. The first element, customer identi fication and verification, is already an AML program requirement. The sec-ond element, beneficial ownership, is a new regulatory requirement. The third and fourth elements are current-ly implicit requirements, but are now explicitly required.

Beneficial Ownership - Definitions Beneficial owners are defined by the regulation as each individual who owns, directly or indirectly, 25% or more of the equity interest of the legal

entity and one individual with signifi-cant responsibility to control, man-age, or direct the entity. A legal entity includes a corporation, a limited li-ability company, or other entity that is created by filing a public document with a Secretary of State or similar offce, a general partnership, and any similar business entity formed in the U.S. or a foreign jurisdiction. Beginning May 11, 2018, (or what is referred to as the applicability date), financial institutions will be required to identify and verify the beneficial owners of legal entity customers when an account is opened. The rule does not cover existing accounts that were opened before the applicability date. Financial institutions will be required to establish and maintain written pro-cedures that identify and verify the beneficial owners of legal entity cus-tomers and include the procedures in their AML compliance program.

Compliance The financial institution may com-ply with the beneficial ownership regulation by completing the form in

Appendix A of the Federal Register, Vol. 81, No. 91, Certification Regard-ing Beneficial Owners of Legal Entity Customers, Section 1010.230. For any exemptions, refer to the Federal Reg-ister, Vol. 81, No. 91.

AML Program Requirements The third and fourth elements amend the AML program requirements for financial institutions by explicitly requiring the institution to establish risk-based procedures for conducting ongoing CDD, and to include under-standing customer relationships for the purpose of developing a customer risk profile. The customer risk profile is used to develop a baseline against which customer activity is assessed for suspicious activity reporting. It may include information such as the type of account, type of customer, and products and services used. Depending upon the risk, banks will be required to maintain and up-date customer information if, during the course of its normal monitoring,

Bankers DigestTIB 1/3 pg ad2016

Page 4 BANKERS DIGEST December 26, 2016

Dennis W. Lebo, who suddenly passed away in his home at the age of 66, was a longtime employee of the Texas Department of Banking where he served over 43 years. Lebo began his service on October 1, 1973. He started as an assistant examiner and was stationed in the Abilene district. In the 12 years that followed, he earned his commission in 1976, ran the Abilene district, and earned a promotion to senior exam-iner in Dallas in 1979. One year later he was promoted to assistant depart-mental examiner and was stationed in his hometown of Austin at the depart-ment’s headquarters. During the TX banking crisis in the 1980’s, Lebo provided experienced and effective leadership. After the crisis subsided, he spent most of his career in Austin. It was there that he discovered his greatest skill, teaching and training assistants in the field of credit analysis. He truly enjoyed his most recent responsibility as a fraud investigator. Lebo made meaningful connec-tions with the people he worked with, had an excellent sense of humor, and was a man who never met a stranger. Banking Commissioner Charles Cooper said Lebo will always be a De-partment of Banking icon and remem-bered as a loyal coworker, respected mentor, and good friend; he will be missed Q

TIB-The Independent BankersBank, Dallas, has announced 10 promotions. Mac Cochrane has been pro-moted to SVP/se-nior relationship officer. He began his career at TIB in 2013, bringing more than 33 years of experience in c o r r e s p o n d e n t banking, national accounts, commercial lending, bank-card processing, and overall business development. He has an established reputation among NC and SC com-munity banks of delivering reliable and exceptional customer service. He is a graduate of the UNC at Char-lotte and resides in Indian Trail, NC. Mindy Freyling has been promoted to SVP and senior compliance engage-ment leader for TIB-Bequeaith Bank-ing Solutions, the bank’s compliance and loan review arm. She joined TIB

P E O P L E TEXAS

Salinas Joins Rio Bank in Brownsville as Vice PresRio Bank, McAllen, recently welcomed Emilio Salinas as vice president/com-mercial loan officer at its Brownsville Banking Center. The Brownsville native is an 18-year banker, including service most recent-ly at Texas Community Bank and earli-er at BBVA Compass and Wells Fargo. He holds a BBA degree in finance from St. Edwards University in Austin Q

Cochrane

TIB-Dallas Promotes Cochrane and Freyling to Senior Vice President and Ups Eight Others

Longtime Bank Department Examiner Dennis W. Lebo Dies

Freyling

in 2014 with 23-plus years of experi-ence in many roles in banking. She is a Certified Community Bank Compli-ance Officer and a Certified Regula-tory Compliance Manager. She serves clients throughout the Rocky Moun-tain region for TIB-Bequeaith, as well as select clients nationally, providing on-site review and support of compli-ance performance. Other staff promotions include:• Mary Chumbley, first vice president/Benefits & HRIS manager in human resources; • Teri Hodgett, first vice president/Compliance Engagement Leader for TIB-Bequeaith;• Kara Ellis, vice president/senior ex-ecutive associate;• Shari Taylor-Nehlebaeff, vice pres-ident/quality control manager, mort-gage division;• Austin Reiter, lending officer/under-writer, card services operations; • Mary Robinson,vice president/card services controller;• Courtney White, vice president/compliance manager, mortgage divi-sion; and• Jennifer Easley, administrative offi-cer/senior executive associate Q

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December 26, 2016 BANKERS DIGEST Page 5

The Independent Community Bankers of America® (ICBA) announced on December 7 that Brian Bender has joined as senior vice president and controller. Bender is responsible for overseeing the preparation, or-ganization, and ongoing analysis of all financial in-formation affecting ICBA and its sub-sidiaries. “Brian is a welcome addition to the accounting team. His experience will serve ICBA and our members well,” said Tricia Hopkins, ICBA senior ex-ecutive vice president/CFO and ICBA Services Network chief operating of-ficer. “In his new role, Brian will be instrumental in identifying and devel-oping policies and procedures across the association and integrating di-verse accounting systems to maximize workflow and efficiency.” Bender has extensive experience in finance and accounting, including many years in public accounting at CohnReznick where he was a senior

First Fidelity Bank, N. A., Oklahoma City, has promoted Nyky Wilson to as-

sistant vice presi-dent and business banker. Wilson has 13 years of bank-ing experience. Most recently, she served more than eight years as branch manager of the 3595 W. Robin-

son St. location in Norman. She holds a bachelor’s degree from the University of Oklahoma. She serves her community as treasurer of Norman Next and is chair of the Unit-ed Way Income Council Q

Century Bank, Santa Fe, reported Shannon Maxwell has joined as as-

sistant vice presi-dent and branch manager at the downtown Santa Fe office at 100 S. Federal PL. Maxwell, a na-tive of Santa Fe, has over 25 years of banking indus-try experience. Her

service includes positions in trust, as-set management, private banking, and retail banking.

Century also reported that Jim Williams has joined as mort-gage loan produc-tion manager for Albuquerque and Rio Rancho. He has more than 30 years experience in residential and

commercial lending. He serves at the Albuquerque office at 8220 San Pedro Dr. NE Q

P E O P L E

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TRADE ASSOCIATION

Bender

Independent Community Bankers of America® (ICBA)Hires Bender as Senior Vice President and Controller

manager in the firm’s nonprofit prac-tice, working with trade associations and other membership organizations. He also served as controller for The Optical Society and, most recently, executive director of financial evalu-ations and reporting for America’s Health Insurance Plans Inc. Bender is a CPA and serves on the American Institute of CPAs’ Nonprofit Entities Expert Panel. He received a BSBA degree from West Virginia Uni-versity and an MBA degree from Suf-folk University. Washington, DC-based ICBA, the nation’s voice for nearly 6,000 com-munity banks of all sizes and charter types, is dedicated exclusively to rep-resenting the interests of the commu-nity banking industry and its mem-bership through effective advocacy, best-in-class education and high-quality products and services Q

OKLAHOMAWilson Promoted to AVP, First Fidelity Bank in Norman

Wilson

Century Taps Maxwell in SF, Williams in Albuquerque

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Page 6 BANKERS DIGEST December 26, 2016

N E W S W A T C H

Veritex Holdings, Dallas, to Merge with Sovereign, Dallas

TEXAS

Veritex Holdings Inc. (“Veritex”), the parent holding company for Veritex Community Bank, both of Dallas, on December 14 announced that it has entered into a definitive agreement to merge with Dallas-based Sovereign Bancshares Inc. and its wholly-owned subsidiary Sovereign Bank, which op-erates 11 full service banking loca-tions in the D/FW Metroplex, Austin, and Houston. As of September 30, 2016, Sover-eign Bancshares, on a consolidated basis, reported total assets of $1.1 billion, total deposits of $858.6 mil-lion, and total equity capital of $118.4 million. As of September 30, 2016, the combined company would have com-bined assets of $2.4 billion, combined loans of $1.8 billion, and combined deposits of $1.9 billion. Veritex Holdings Chairman/CEO C. Malcolm Holland stated, “The merger with Sovereign Bank is a transforma-tive event in the growth of Veritex Community Bank. Upon completion of the transaction, Veritex Commu-nity Bank will be one of the 10 largest banks headquartered in Dallas-Fort Worth. “This merger will double our asset size as well as our number of loca-tions. It significantly expands our presence in the Dallas metropolitan area and marks our entry into the Aus-tin, Fort Worth, and Houston commu-nities...” Under the terms of the $162 million merger agreement, Veritex will issue 5,117,647 shares of its common stock and pay approximately $58.0 mil-lion in cash to existing shareholders of Sovereign Bancshares, subject to certain conditions and potential ad-justments as described in the merger agreement. In connection with the transaction, two representatives of Sovereign Bancshares’ board of di-rectors will join the Veritex board of directors. The transaction is subject to customary closing conditions, in-

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MISSISSIPPIOKLAHOMAGrand Savings Bank to Open Location in Fairland

Hancock Holding Raises $260 MM from Stock Sale

Grand Savings Bank, Grove, has begun construction on a new branch facility at 604 W. Conner Ave. in Fairland, ac-cording to The Journal Record. Grand Savings expects to open the new Fairland location in April 2017 with six or seven employees. Three of the employees are expected to trans-fer from the Grove location. The new Fairland facility will have 2,450 square feet, with two drive-thru banking lanes. Fairland is located in southern Ot-tawa County which is north of Grove and sits on Hwy. 60 just east of I-44. Grand Savings Bank operates of-fices in Grove and Jay, OK, and in Fort Smith, Bentonville, Rogers, Decatur, Gentry, and Siloam Springs, AR Q

Gulfport-based Hancock Holding Co. said on December 19 that it has raised $260 million from the sale of 6.3 mil-lion shares of common stock at $41.05 per share. The company granted the underwriter an option to purchase an additional 825,000 shares. Hancock said it plans to use the money for general corporate purpos-es, including potential acquisitions and to support organic growth. Hancock Holding is the parent company of Gulfport-based Hancock Bank and New Orleans-based Whitney Bank. The holding company has $23.1 billion in assets and operates Han-cock Bank locations in MS, AL, and FL and Whitney Bank locations in LA and TX Q

LOUISIANABancorpSouth Insurance Services Buys Gonzales AgencyBancorpSouth Inc., Tupelo, MS, an-nounced on Deember 19 that Ban-corpSouth Insurance Services Inc. (BXSI), a wholly-owned subsidiary of BancorpSouth Bank, acquired certain assets of Waguespack & Associates Insurance Inc., an independent insur-ance agency in Gonzales that handles

commercial and personal lines insur-ance. Timothy A. Waguespack and Mi-chael W. Waguespack established the agency in 1986. Today, the agency is now one of the largest independent insurance agencies in Ascension Par-ish and the surrounding area Q

(continued on Page 7)

December 26, 2016 BANKERS DIGEST Page 7

N E W S W A T C H TEXAS

cluding regulatory approvals and ap-proval of the merger agreement by the shareholders of Sovereign Bancshares and the issuance of shares by the shareholders of Veritex Holdings. The transaction is expected to close dur-ing the second quarter of 2017. Veritex Holdings, established in 2010, is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Veri-tex Community Bank, with locations throughout the Dallas metropolitan area. Veritex Community Bank is a TX state chartered bank and a member of the Federal Reserve System. Veritex Holdings has prospered though a combination of organic growth and the acquisition of four small community banks. Today, the bank operates 10 Metroplex branches and a mortgage office in Dallas. Founded in 2004, Sovereign Banc-shares is a bank holding company that provides financial services including a wide range of depository services, commercial and industrial lending, SBA loans, specialized lending for the energy industry, private banking, real estate lending, and treasury man-agement services through its wholly-owned subsidiary Sovereign Bank, based in Dallas at 17950 Preston Rd. Sovereign Bank currently serves its customers through seven branch locations in the D/FW Metroplex, two Austin branches, and two Houston lo-cations. Thomas J. Mastor serves as CEO of Sovereign Bancshares and chairman/CEO of Sovereign Bank. After the merger closes, the com-bined company will have about 260 employees and a single management team. In a related news release dated December 15, Veritex Holdings an-nounced the pricing of an underwrit-ten public offering of 3,865,000 shares of its common stock at a price to the public of $22.50 per share, for gross proceeds of approximately $87.0 mil-lion. The net proceeds to the com-pany, after deducting the underwriting

discount, are expected to be approxi-mately $82.6 million. Veritex has granted the underwriters a 30-day op-tion to purchase up to an additional 579,750 shares of the company’s com-mon stock at the public offering price, less the underwriting discount. Veritex intends to use the net pro-

VERITEX (continued from Page 6) ceeds from the offering to fund the cash consideration portion of its pro-posed merger with Sovereign Banc-shares Inc. and for general corporate purposes. Veritex expects to close the offer-ing, subject to customary conditions, on or about December 20 Q

www.Bankersdigest.com

Page 8 BANKERS DIGEST December 26, 2016

N E W S W A T C H

Simmons First National Corporation Announces Agreement To Acquire Southwest Bancorp Inc., Stillwater, Oklahoma

ARKANSAS

Two publicly-traded Southwest based bank holding companies have an-nounced a merger agreement that will create a combined organization with over $10.6 billion in assets and a foot-print stretching from CO to TN. Simmons First National Corpo-ration (“Simmons”), Pine Bluff, and Southwest Bancorp Inc. (“SBI”) an-nounced on December 14 that they have entered into a definitive agree-ment and plan of merger (“Agree-ment”) under which Simmons will ac-quire all of the outstanding common stock of SBI in a transaction valued at approximately $564.4 million (based on the Simmons’ common stock clos-ing price as of December 13, 2016). SBI is headquartered in Stillwater, OK, and is the parent company of its wholly-owned bank subsidiary, Bank SNB (“SNB”), which dates its roots back to 1894.. “We are excited to welcome the cus-tomers and associates of Bank SNB to the Simmons family. This transaction provides Simmons with an incredible opportunity to enter new markets in new states – Oklahoma, Colorado, and Texas – and grow our operations in Kansas,” said George A. Makris Jr., Simmons’ Chairman/CEO. “The lead-

ership of Bank SNB, quarterbacked by Mark Funke, has been dedicated to building a brand known for excellence in customer service. They’ve been highly successful, and we look forward to their continued involvement in the combined organization. Mark will be the president of the new Southwest Division of Simmons Bank and will be responsible for the banking opera-tions in Oklahoma, Texas, Colorado, and Kansas.” SBI’s financial highlights (as of Sep-tember 30, 2016):

· Assets: $2.47 billion· Loans: $1.87 billion· Deposits: $1.95 billion· Branches: 31 in four states

“We at Southwest Bancorp are thrilled about the merger of our company with Simmons,” said Mark Funke, SBI’s President and CEO. “After much con-sideration of our strategic options, it became clear that partnering with Simmons – a premier financial insti-tution that still appreciates the ad-vantages of the community banking model – presents the best long-term opportunity for our associates, cus-tomers, and shareholders alike. We’re

eager to experience all the benefits of the combined franchises.” Under the terms of the Agreement, each outstanding share of common stock and equivalents of SBI will be converted into the right to receive 0.3903 shares of the Company’s com-mon stock and $5.11 in cash, all sub-ject to certain conditions and poten-tial adjustments. Completion of the transaction is expected in the third quarter of 2017 and is subject to certain closing con-ditions, including approval by the shareholders of both SBI and the Company, as well as customary regu-latory approvals. After closing, SNB is expected to continue operations as a separate bank subsidiary of Simmons for an interim period until it is merged into Simmons Bank. Bank SNB began operations as Still-water National Bank & Trust Co. and has grown through a series of acquisitions, de novo branching, and organic growth. Southwest Bancorp had just settled af-ter a merger of its own when it bought Edmond, OK-based First Commercial Bancshares Inc. for about $42 million at the end of 2015. The transaction raised Bank SNB’s total assets to $2.3 billion. The bank operates 18 offices in OK, five in TX, four in KS, and three in CO. The bank employs a staff of 393 bankers. Bank SNB recorded net income of nearly $12.9 million through the first nine months of 2016. Bank SNB re-ported annual profits of almost $19.3 million in 2015, more than $21.8 mil-lion in 2014, nearly $20.7 million in 2013, and about $18.4 million in 2012. In an article in The Journal Record, Funke was asked which party had initi-ated the deal, Funke said, “Southwest Bancorp certainly wasn’t for sale; it wasn’t in a position where it needed to sell.” Q

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December 26, 2016 BANKERS DIGEST Page 9

F E A T U R E

C h a r t e r

a c t i v i t y

R E G U L A T O R S

the bank detects a change in benefi- cial ownership information. The pro-vision does not impose a categorical requirement for institutions to update the customer information on a con-tinuous or periodic basis, but rather updating is event driven and a part of normal monitoring. The new regulation adds a fifth pil-lar to the AML compliance program. Financial institutions will be required to implement and maintain an AML program that minimally includes:1) Developing a system of internal controls to assure ongoing compli-ance,2) Independent testing for compliance by bank personnel or by an outside party,3) Designating an individual(s) re-sponsible for coordinating and moni-toring day-to-day compliance,4) Training appropriate personnel, and5) Creating risk-based procedures for conducting ongoing customer due dil-igence, to include (but not limited to): (i) Understanding the nature and purpose of customer relationships to develop a customer risk profile; and (ii) Conducting ongoing monitor-ing to identify and report suspicious transactions and, on a risk basis, to maintain and update customer infor-mation.

Finally, FinCEN believes that clari-fying and strengthening CDD and beneficial ownership requirements for financial institutions advances the purpose of the BSA by assisting law enforcement on financial investiga-tions. Law enforcement will now have more access to account information of illicit groups, such as terrorist or-ganizations, drug dealers, and money launderers. These rules will be helpful for fi-nancial institutions as well, by allevi-ating risks and giving further compli-ance with the BSA and cooperation with the Foreign Account Tax Compli-ance Act (FACTA). Any CDD regula-tory expectations will become more consistent across sectors, and will en-hance transparency of legal entities.

Sources for the article:• The Federal Register. Volume 81. No. 91. May 11, 2016• Treasury Department Bank Secre-cy Act Regulation. 31 C.F.R. Section 1010.230 Q

ArkansasBRANCHES The FEDERAL RESERVE BANK OF ST. LOUIS has received an ap-plication by First Financial Bank, El Dorado, for a branch at 12921 Cantrell Rd., Ste. 105, Little Rock.TexasBRANCHES The TEXAS DEPARTMENT OF BANKING has received an applica-tion by Capital Bank, Houston, for a branch at 1914 Wescott Ave., Sugar Land, with a temporary branch at 1470 First Colony Blvd., Sugar Land.MERGERS AND ACQUISITIONS The TXDB has received an appli-cation by Texas Regional Bank, Har-lingen, for a merger with target: The Blanco National Bank, Blanco. The FRB OF DALLAS has received an application by Texas Regional Bank, Harlingen, to acquire by merger The Blanco National Bank, Blanco, and to establish the three locations of the acquired institution as branches of Texas Regional Bank. The FRB OF DALLAS has received an application by Texas State Bankshares Inc., Harlingen, to acquire by merger Blanco National Holdings Inc., Blanco, and therefore indirectly, to acquire The Blanco National Bank, Blanco. The TXDB has reported an appli-cation by Falcon International Bank, Laredo, for a P&A - branch (std) was effective on December 9, involving branches of PlainsCapital Bank, Dal-las, at 6002 McPherson Rd. and 6625 San Dario Ave., Laredo. The FRB OF DALLAS has received an application by Woodforest Finan-cial Group Employee Stock Ownership Plan (with 401(k) Provisions) (Amend-ed and Restated Effective March 1, 2006) and the related Woodforest Fi-nancial Group Employee Stock Own-ership Trust, The Woodlands, collec-tively the Applicant, to acquire up to 32.26% of Woodforest Financial Group Inc., The Woodlands, and indirectly acquire Woodforest National Bank, Houston Q

DUE DILIGENCE (continued from Page 3)

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Alliance Bank currently has an op-portunity for a CREDIT ANALYST in Sulphur Springs, Texas. This posi-tion is responsible for providing as-sistance to the lending staff in the development, analysis and moni-toring of loan customers. Such as-sistance may be in the preparation of loan requests, reviewing existing loan files, inspection of collateral, analysis of financial information, and other lending related functions as required. Interested candidates must have a minimum of a college degree, 3 years previous experience in banking, and knowledge of bank-ing laws and regulations. Qualified applicants should submit a resume online to HR@Alliancebank.com or by fax to 903/439-6793. Equal Op-portunity Employer.

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BancorpSouth Inc. Invests $8.5 MM in Liberty Financial Services Preferred StockBancorpSouth Inc.(BXS), Tupelo, MS, and Liberty Financial Services Inc. (“Liberty”), New Orleans, LA, jointly announced December 20 Bancorp-South Bank invested $8.5 million in Liberty in the form of non-cumulative perpetual preferred stock positioning Liberty to redeem in full 11,334 shares of Series A Fixed-rate Cumulative Per-petual Preferred Stock issued in 2010 pursuant to the U.S. Department of Treasury’s Community Development Capital Initiative. The redemption

amount totaled $10.6 million. Liberty Financial Services Inc., the holding company of Liberty Bank, NewOrleans, which is a Minority Deposi-tory Institution (“MDI”), Community Development Entity (“CDE”), and a Community Development Financial Institution (“CDFI”) which focuses on low-to-moderate wealth communities and their respective residents. Libertyqualified for participation in the Com-munity Development Capital Initiative based on its status as a CDFI.

Dan Rollins, BancorpSouth chair-man/CEO, remarked, “Liberty is con-sistently one of the top performing African-American-owned financial in-stitutions in the country. This invest-ment reflects our continued focus on supporting the revitalization of un-derserved communities both in the markets we serve and in neighboring markets.” With more than $600 million in as-sets today, Liberty Bank operates 21 branch locations in eight states Q