Pub. 5 2016-2017 Issue 1

OF F I C I A L PUB L I CA T I ON OF THE COMMUN I T Y B ANK E R S OF WE S T V I RG I N I A S UMME R 2 0 1 6 CONTENTS: • 3 Community Banks Build Better Communities • 4 Fine Points: Our Bedrock Principles • 6 The Secret To Attracting More Millennials • 7 Strategies to Market Successfully to Millennials •8 Lights, Action, Video! • 10 Sandbags at the Ready? Drop In Market Yields Could Unleash Torrent of Cash Flow •12 Williamstown Bank’s Flood Relief Efforts •14 West Virginia Banks Band Together After Flooding! •18 By the Numbers: Bank Secrecy Act Beneficial Owner Customer Identification Program Rule •19 Community Banks Falling Short on Annual IT Audit •20 The Defend Trade Secrets Act: A Bank’s NewRemedy for Misappropriation of Trade Secrets •21 Letters of Credit Help Community Banks Gain Municipal Deposits • 22 You Really Should Workout More: Exploring Alternatives To Foreclosure • 24 4 Tips for Risk-based Due Diligence To Ease Vendor Management Burden… and Ensure Your Institution’s Future Feature Member Bank • 25 FinCEN FAQs Clarify Customer Due Diligence Regulations • 26 Feature Member Bank • 27 Feature Associate Member • 28 Bank Member News • 30 Upcoming Webinars