THREE - Bankers' Bank Of Kansas
THREE LESSONS FROM THREE DECADES 2018 ANNUAL REPORT 30th Anniversary Issue
BBOK BANCSHARES, INC. BOOK VALUE 59.68 51.19 AMOUNT INCREASE 44.11 VALUE 1039.90 PER SHARE 1069.33 1101.42 1152.61 5.18% 32.09 PERCENT INCREASE 4.43% 1212.29 4.65% 29.43 3.00% 2.83% 2014 2 2018 BBOK ANNUAL REPORT 2015 2016 2017 2018
THE LESSONS: TRUST Mutual trust builds strong partnerships. INVEST Invest in staff and officers with the vision and skills to advance community banking. IMPLEMENT Implement strategic products and innovative technology to maximize impact. 30TH ANNIVERSARY ISSUE 3
“ Accuracy, reliability, and integrity are a must in our industry. We trust BBOK and its knowledgeable staff to provide excellent service because they are community bankers committed to delivering solutions for our bank’s success. ” John Engelbert First State Bank Norton, KS “ BBOK provides years of professional experience and expertise that assists Community Bank in meeting its customer’s needs. Across all lines of products and services, Bankers’ Bank of Kansas gives us the sources, means and confidence to meet our challenges. Steve Carr Community Bank Wichita, KS 4 2018 BBOK ANNUAL REPORT ”
Board of Directors Brad Oakes Chairman of the Board, BBOK; President/CEO, FirstOak Bank, Independence Mark Keeny Vice Chairman of the Board, BBOK; CEO, Citizens Bank of Kansas, Kingman Robert Beymer Chairman/CFO/ Senior Trust Officer, The Kearney County Bank, Lakin Scott Bird President/ Chairman, KansasLand Bank, Quinter Calvin Coady President/CEO, BBOK, Wichita Dan Coup President/CEO, The First National Bank, Hope Lloyd Culbertson President, First National Bank and Trust, Phillipsburg Mark Emley Market President, Academy Bank, Overland Park Larry Fief President, The Bank of Tescott, Salina John Lehman President/CEO, The First National Bank of Girard, Girard Steven Niemack President/CEO, Stockgrowers State Bank, Maple Hill Michael Scheopner President/CEO, Landmark National Bank, Topeka Bruce Schriefer Past President, BBOK, Wichita Patrick Walden President/CEO, Garden Plain State Bank, Wichita TRUST Three decades have passed since a group of Kansas bankers decided they wanted to take charge of their correspondent relationships. Through the years Bankers’ Bank of Kansas has learned many lessons. I believe the greatest of which originates from the vision of our founders, that our path is brighter when we walk it together. BBOK’s mission served us well this year. Financially, we posted the best net income in our 30 year existence while managing the headwinds of margin compression, and maintaining solid loan quality. Our financials were also helped by the reduction in tax rates that took effect this year. Net income continues to be reinvested in products and services to deliver the best customer service possible through our technology and our people. Loan totals continued their moderate growth. A summary of this year’s performance can be found on pages 10 and 11. Our lenders’ role evolved as part of BBOK’s commitment to cross-functionality. The newly created relationship manager positions align responsibilities to better assist our partner banks through one key point of contact. In the past year the staff met monthly to dissect our mission statement so we could better define what it means to us and how we can apply it to serve you best. The meetings were not about memorizing a statement verbatim, but instead we encouraged each employee to identify with the mission, determine how it personally applies, and ultimately see how their individual successes and challenges shape BBOK. The BBOK board of directors continues to be comprised of bankers from a variety of markets and geographies. Brad Oakes, Bruce Schriefer and Pat Walden will retire from the BBOK board this year. Their commitment and wisdom has served BBOK well. We can’t begin to thank them enough! BBOK’s success for the past 30 years is a reflection of the resilience of the Kansas banking community. I feel incredibly fortunate to have been with the bank almost 21 years, and to now lead a team who actively looks for ways to help Kansas banks prosper, while delivering financial returns to our shareholders. Thank you for continuing to walk the path with us. Calvin Coady, President/CEO 30TH ANNIVERSARY ISSUE 5
Terry Puett, Tim Binns, Mike Sikes and Chris Yohe Ashley Beck, Jesus Garcia and Carol Koehn Shasta Jenkins, Nicki Gray, Sandy Huxman and Abby Cranmer Lucy Hadley, Connor Detlefsen and Ashley Smith SUCCESS STARTS WITH EXCEPTIONAL PEOPLE Since BBOK’s beginning in 1988, we’ve focused on hiring individuals determined to accelerate community banking. The depth, breadth and experience of our team, is well-positioned to lead BBOK today and into the future. 6 2018 BBOK ANNUAL REPORT
INVEST Creating a client-focused culture supported by individual empowerment, responsibility and accountability is a priority at BBOK. Individuals have the opportunity to hone their skills through professional development opportunities. In 2018, two staff members became officers and one officer was promoted. By fostering a friendly, fun and professional workplace, we believe our employees can give their best to partner banks. Officers and Staff EXECUTIVE Calvin Coady, President/CEO Craig Ellis, Executive Vice President ADMINISTRATION Megan Rush Rachel Walcher Cheryl Warashina BANK CARD Kennadie Adams Sherry Beard Abby Cranmer Nicki Gray Lea Gubitz Joy Holden Sandy Huxman Shasta Jenkins Betty Nguyen Christy Simonsen Paula Snider Karen Schultz COMPLIANCE Peg Baldwin ELECTRONIC BANKING/ OPERATIONS Sharla Cook Chris Gilbert Lucy Hadley Candice Jackson Ashley Smith Tracy Stewart Lisa Valentine FINANCE Ashley Beck Tara Breault Jesus Garcia Carol Koehn Julie Lyman Michael Ray Tonya Rolo Ann Sathngam IT Connor Detlefsen Scott Fowler Steve Madewell Cade Snedden LENDING Tim Binns* Cathy Gaines Mike Sikes* Kyler Steadman Dennis Willey Chris Yohe* MARKETING Terry Puett* Amanda Williams FINANCIAL SERVICES Todd Schoenhofer Andrew Smarsh *BBOK Relationship Managers 30TH ANNIVERSARY ISSUE 7
Credit Business Capital Credit is a core competency of Bankers’ Bank of Kansas and it remains strong. Loan origination volume continued to increase. Loan sales totaled 78,224,726 during 2018 – and past dues and nonaccrual loans to total loans was at .057% at year-end. BBOK’s simple, straightforward business model has performed exceedingly well through the widely varying economic and industry conditions of the past three decades. We remain wellcapitalized and increased the number of shareholders to support our continued development. 8 2018 BBOK ANNUAL REPORT
IMPLEMENT Bankers’ Bank of Kansas continues to leverage the economies of scale to increase our bank partners’ ability to: Manage funding needs Provide creative loan solutions to bank partners Wire money to international locales Increase non-interest income through a customized bank card program We invested in a new credit card platform; enhanced vendor contracts for additional customer bank income; and improved server technology and security. Implementing new procedures, products and technology remains core to the success of BBOK for the next 30 years. 2018 Performance Highlights* 5% 33% 62% BOOK VALUE PER SHARE EARNINGS PER SHARE CASH DIVIDEND Increase Increase Increase *based on comparisons from 2017-2018 30TH ANNIVERSARY ISSUE 9
Financials 10 2018 BBOK ANNUAL REPORT
30TH ANNIVERSARY ISSUE 11
AVERAGE SERVICES PER CUSTOMER 8.72 8.70 2015 2016 8.98 9.04 2017 2018 8.27 2014 ROE 7.93% GROWTH 2018 5.96% 5.63% 6.26% 3.53% 2014 2015 2016 2017 2018 CAPITAL GROWTH (MILLIONS) BBOK MISSION Be a trusted partner and deliver: solid financial strength, superior products and unwavering customer service. 12 2018 BBOK ANNUAL REPORT 23 23.5 2014 2015 24.6 2016 26.4 2017 28 2018
WHEN WE FOCUS OUR EFFORTS ON HELPING OUR BANK PARTNERS, WE SUCCEED. Steady growth in loan, credit card and safekeeping portfolios 92% customer satisfaction rating *source: BBOK customer survey March 2018 4 new banks became BBOK shareholders 187 SHAREHOLDERS SPANNING THE ENTIRE SUNFLOWER STATE Investing in Next Gen Bankers Through scholarships and summer internship opportunities, BBOK is committed to attracting and training young people who are passionate about the future of community banking. 30TH ANNIVERSARY ISSUE 13
Shareholders * Banks in orange represent new Shareholders added to BBOK’s holding company, BBOK Bancshares, Inc. in 2018 Almena State Bank, Almena Conway Bank, Conway Springs Citizens State Bank, Gridley Alva State Bank & Trust Co., Alva, OK Citizens State Bank and Trust Company, Council Grove The Halstead Bank, Halstead Andover State Bank, Andover Equity Bank, Andover Union State Bank, Arkansas City Stockgrowers State Bank, Ashland Farmers Bank & Trust, Atwood Baldwin State Bank, Baldwin City Mid-America Bank, Baldwin City American Bank of Baxter Springs, Baxter Springs Valley State Bank, Belle Plaine New Century Bank, Belleville First National Bank, Beloit Bendena State Bank, Bendena State Bank of Bern, Bern Farmers State Bank, Bucklin Emerald Bank, Burden State Bank of Burrton, Burrton Stock Exchange Bank, Caldwell State Bank of Canton, Canton Cottonwood Valley Bank, Cedar Point First Heritage Bank, Centralia Community National Bank & Trust, Chanute Home Savings Bank, Chanute Citizens State Bank, Cheney RCB Bank, Claremore, OK Union State Bank, Clay Center Elk State Bank, Clyde Community State Bank, Coffeyville Farmers & Merchants Bank of Colby, Colby Peoples Bank, Coldwater 14 2018 BBOK ANNUAL REPORT Swedish-American State Bank, Courtland Ninnescah Valley Bank, Cunningham Verus Bank, Derby TriCentury Bank, DeSoto First National Bank, Dighton State Bank of Downs, Downs Heartland Tri-State Bank, Elkhart Citizens State Bank & Trust Co., Ellsworth Pony Express Bancorp, Inc., Elwood ESB Financial, Emporia Lyon County State Bank, Emporia Dickinson County Bank, Enterprise Flint Hills Bank, Eskridge Kaw Valley State Bank, Eudora Union State Bank, Everest Farmers State Bank, Fairview The City State Bank, Fort Scott First National Bank, Frankfort Patriots Bank, Garnett The First National Bank of Girard, Girard GNBank, N.A., Girard Southeast Kansas Bancshares, Inc., Girard The First National Bank of Harveyville, Harveyville Haviland State Bank, Haviland Golden Belt Bank, FSA, Hays First State Bank, Healy Hillsboro State Bank, Hillsboro Denison State Bank, Holton Farmers State Bank, Holton The First National Bank, Hope Howard State Bank, Howard Citizens State Bank, Hugoton Central Financial Corporation, Hutchinson First National Bank of Hutchinson, Hutchinson FirstOak Bank, Independence Jamestown State Bank, Jamestown Johnson State Bancshares, Inc., Johnson Community First Bank, Kansas City nbkc bank, Kansas City, MO Citizens Bank of Kansas, Kingman KANZA Bank, Kingman Nekoma State Bank, La Crosse The Kearny County Bank, Lakin Great American Bank, Lawrence First National Bank, Goodland The University National Bank, Lawrence Gorham State Bank, Gorham Mutual Savings Association, Leavenworth American State Bank & Trust, Great Bend Community Bank of the Midwest, Great Bend BMO Harris, Leawood CrossFirst Bank, Leawood Farmers Bank & Trust, Great Bend First Business Bank, Leawood Bank of Greeley, Greeley Central Bank of the Midwest, Lee’s Summit, MO
Small Business Bank, Lenexa First Security Bank, Overbrook First National Bank, Syracuse Vintage Bank Kansas, Leon Kansas State Bank, Overbrook Valley State Bank, Syracuse The Community Bank, Liberal Academy Bank, Overland Park Tampa State Bank, Tampa Arvest Bank, Lowell, AR Blue Valley Ban Corp, Overland Park The Bank of Tescott, Tescott Lyndon State Bank, Lyndon Cornerstone Bank, Overland Park First State Bank & Trust, Tonganoxie KS StateBank, Manhattan Bank of Palmer, Palmer Alliance Bank, Topeka Landmark National Bank, Manhattan Farmers National Bank, Phillipsburg Capital City Bank, Topeka State Exchange Bank, Mankato Farmers State Bank, Phillipsburg Community Bank, Topeka Stockgrowers State Bank, Maple Hill First National Bank and Trust, Phillipsburg CoreFirst Bank and Trust, Topeka Marion National Bank, Marion Marquette Farmers State Bank, Marquette Citizens State Bank of Marysville, Marysville First Commerce Bank, Marysville United Bank & Trust, Marysville Farmers State Bank, McPherson Peoples Bank & Trust Co., McPherson Morrill & Janes Bank & Trust Co., Merriam Bank of Minden, Mindenmines, MO The Mission Bank, Mission The Citizens State Bank, Moundridge Carson Bank, Mulvane Southwind Bank, Natoma First Neodesha Bank, Neodesha Midland National Bank, Newton First State Bank, Norton Farmers State Bank, Oakley The Bank, Oberlin Bank of the Prairie, Olathe First Federal of Olathe Bancorp, Olathe The Olpe State Bank, Olpe First Option Bank, Osawatomie The Farmers Bank of Osborne, Osborne Simmons Bank, Pine Bluff, AR Plains State Bank, Plains Bank of Prairie Village, Prairie Village The Bank of Protection, Protection KansasLand Bank, Quinter First State Bank, Ransom The Riley State Bank of Riley, Riley Silver Lake Bank, Topeka VisionBank, Topeka Towanda State Bank, Towanda Grant County Bank, Ulysses Union State Bank, Uniontown Kendall State Bank, Valley Falls Bank of the Flint Hills, Wamego The Bennington State Bank, Salina Kaw Valley State Bank & Trust Co., Wamego First Bank Kansas, Salina FNB Washington, Washington Sunflower Bank, N.A., Salina Farmers State Bank, Wathena Astra Bank, Scandia First National Bank of Kansas, Waverly First National Bank, Scott City CBW Bank, Weir Security State Bank, Scott City The Bank of Commerce & Trust Co., Wellington First National Bank, Sedan Community National Bank, Seneca Smith Center Bancshares, Inc., Smith Center Impact Bank, Wellington Security State Bank, Wellington Farmers State Bank, Westmoreland First National Bank, Spearville Chisholm Trail State Bank, Wichita Great Southern Bank, Springfield, MO Community Bank of Wichita Inc., Wichita SJN Bank of Kansas, St. John Emprise Bank, Wichita Prairie Bank of Kansas, Stafford Garden Plain State Bank, Wichita Alden State Bank, Sterling Legacy Bank, Wichita First Bank, Sterling Southwest National Bank, Wichita Solutions North Bank, Stockton Wilson State Bank, Wilson 30TH ANNIVERSARY ISSUE 15
555 N. Woodlawn, Bldg. 5 Wichita, Kansas 67208 800.999.5725 316.681.2265 BBOK.COM MEMBER FDIC
First Commerce Bank, Marysville United Bank & Trust, Marysville Farmers State Bank, McPherson Peoples Bank & Trust Co., McPherson Morrill & Janes Bank & Trust Co., Merriam Bank of Minden, Mindenmines, MO The Mission Bank, Mission The Citizens State Bank, Moundridge Carson Bank, Mulvane
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