Pub. 11 2022 Issue 6

In early 2020, municipal credit concerns were abundant, and tax revenue plunged due to pandemic shutdowns. Since then, average state and local tax revenue has recovered from those declines and grown significantly. Total state and local tax revenue reported by the U.S. Census Bureau was up 13.9% in the first half of 2022 compared to the first half of 2021 and by over 30% compared to the first half of 2019. Federal stimulus funds, coupled with prudent expense management, also helped to improve municipal finances, all of which led to record budget surpluses and large increases in reserves in many cases.

The traditional way of thinking about employee benefits is changing.

For over a decade, large financial institutions like U.S. Bank and Wells Fargo, joined by Fortune 500 giants like Apple and Google, have been the dominant players in solar investment tax credits (ITCs). Driven by federal incentives, these companies have provided funding for the largest solar projects in the country, collecting healthy returns while raising their corporate profiles as environmental/social/governance (ESG) leaders.

Thomas N. (Tony) Frederick July 14, 1933 – October 10, 2022 Thomas N. Frederick, 89, entered the presence of the Lord Oct. 10, 2022. He was born July 14, 1933, in Alden, the son of Guy “Ham” and Grace (Belden). Tom graduated from Alden High School in 1951 and continued his education at Kansas State

McVicker Receives 50-Year Club Award Congratulations to Earl McVicker on his 50 years in banking! Since 1992, Earl has served as Chairman, President and CEO of the Central Financial Corporation in Hutchinson. He also serves as the Director (2001 to present) and Chairman (2020 to present) for Community First National Bank in Manhattan. After graduating

Many Bank Holding Companies (BHCs) have shareholder agreements that limit voting rights, buy-sell, transfer of shares and other restrictive provisions. The creation and implementation of these agreements frequently occurred when BHCs could elect to be taxed as a subchapter S corporation (S Corp) in 1998. Many private BHCs held as C corporations may also contain such agreements, and banks not owned by a BHC could also have such agreements.

The Manhattan Hilton Garden Inn was the location for the 2022 Economic & Risk Management Conference on Nov. 2-3. With many CEOs, CFOs and investment bankers on hand, the program provided high-level and timely information for bank development and planning. KBA Chairman Shan Hanes, Heartland Tri-State Bank in Elkhart, welcomed attendees, thanked conference sponsors, and gave special recognitions before introducing the first keynote speaker, small business expert Gene Marks. In his fast-paced and entertaining talk titled,

After a whirlwind election cycle that focused on unfavorable ratings of U.S. President Joe Biden, former Kansas Governor Sam Brownback’s record, and concerns about the economy, Governor Laura Kelly successfully held off a challenge by Kansas Attorney General Derek Schmidt. Immediately following Kelly’s victory speech, Republican Party officials took critical aim at the Independent Gubernatorial campaign run by Kansas Senator Dennis Pyle. Pyle changed his party affiliation from Republican to Independent to run as a conservative alternative to Schmidt. When all the votes were counted, he received close to the number of votes that separated Kelly and Schmidt. However, that alone was not the deciding factor in this race.