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Author: Chelsea Culp

Ray Wagner Joins FNB Bank as Chief Credit Officer

FNB Bank is proud to announce that Ray Wagner has joined FNB as Chief Credit Officer. Ray brings with him more than 20 years of banking experience having served in various roles including SVP Consumer Credit Analytics, SVP Enterprise Risk Manager and VP Chief Risk Officer.

“We are pleased to have Ray join our FNB team,” stated Lori Noel, EVP & Chief Lending Officer. “His many years of banking experience and strong background in credit roles will be a huge asset to FNB as he takes on the Chief Credit Officer position.” 

Ray has a Bachelor of Science in Computer Science.  He recently moved to Western Kentucky with his wife and three children. Ray and his family are excited about exploring Western Kentucky and getting involved in the community.

FNB Bank, founded in 1875, is one of the oldest banks in the state of Kentucky with assets exceeding $660 million.  FNB ranks among the highest in the nation in the area of safety and soundness. The bank currently has ten offices located in Graves, McCracken, Calloway, Trigg and Marshall County. FNB is Member FDIC and an Equal Housing Lender.

FNB Announces Third Annual Glowing Graves Halloween Parade

FNB Bank is excited to announce the third annual Glowing Graves Halloween Parade will take place in Mayfield on Saturday, October 21st at 6:30 PM. The parade is sponsored by FNB Bank and the Mayfield Rotary Club.

“We have been blown away the first two years by the number of parade entries and attendees at the Glowing Graves Halloween Parade,” stated Brooke Wiles, FNB Marketing Director. “Mayfield-Graves County Tourism has done an outstanding job coordinating the Haunted Graves initiative for the month of October. We are proud to be a part of a new tradition that continues to grow, while uniting our community.”

Registration to participate in the Glowing Graves Halloween Parade is now underway. Businesses, non-profits, civic groups, student groups, church groups, local farms and more are encouraged to participate and throw out candy, glow sticks, and other family-friendly giveaways to community members. The Registration Form can be submitted online at: https://growwithfnb.com/glowing-graves/. The deadline to submit your completed Registration Form is Wednesday, October 11th, 2023.

The Glowing Graves Halloween Parade is part of a larger initiative that was introduced in Graves County in 2021 called Haunted Graves. The Haunted Graves endeavor will feature various Halloween and Fall-themed events in Mayfield and Graves County throughout the month of October. For parade questions, please contact Brooke Wiles, FNB Marketing Director, at 270-247-1758 or by email at brooke.wiles@growwithfnb.com. For Haunted Graves details, please contact Jennifer Beck Walker, Mayfield-Graves Tourism Commission Executive Director, at 270-247-6106 or by e-mail at info@visitmayfieldgraves.org.

FNB Bank, founded in 1875, is one of the oldest banks in the state of Kentucky with assets exceeding $660 million. FNB ranks among the highest in the nation in the area of safety and soundness. The bank currently has ten offices located in Graves, McCracken, Calloway, Trigg and Marshall County. FNB is Member FDIC and an Equal Housing Lender.

FNB’s Recent Officer Promotions

FNB Bank is pleased to announce the recent promotion of officers at the Annual Meeting of the Board. During the meeting, the Board of Directors promoted Nick Johnson and Andrew McGlenon to Assistant Vice President.

Nick Johnson promoted to Assistant Vice President for FNBNick Johnson currently serves as Information Security Manager for FNB. He has 17 years of Information Technology experience, serving the past 10 years in the banking field with FNB. Nick is a 2002 graduate of Massac County High School, a 2009 graduate of Murray State University where he obtained a Bachelor of Science in Telecommunications Systems Management, and a 2019 graduate of Western Governors University where he obtained a Master of Science in Cybersecurity and Information Assurance. He is a Certified Information Security Manager, Certified Information Systems Security Professional, and Certified Data Privacy Solutions Engineer. Nick volunteers at local community events and school functions to discuss cybersecurity, privacy, and scam and fraud prevention. He currently resides in Metropolis.

Andrew McGlenon promoted to Assistant Vice President for FNBAndrew McGlenon has more than 18 years of banking experience and currently serves as a Business Banking Officer for FNB. He is a graduate of Capella University with a Master of Business Administration with a specialization in Finance. Andrew currently serves as Chairman for the Salvation Army of Paducah Advisory Board as well as the Paducah-McCracken County Convention Center Treasurer and Columbia Art House Treasurer. Andrew resides in Paducah with his wife, Sherry, and their children, Hunter and Kaitlynn.

FNB Bank, founded in 1875, is one of the oldest banks in the state of Kentucky with assets exceeding $660 million.  FNB ranks among the highest in the nation in the area of safety and soundness. The bank currently has ten offices located in Graves, McCracken, Calloway, Trigg and Marshall County. FNB is Member FDIC and an Equal Housing Lender.

FNB & VUE Magazine Present 40 Under Forty

FNB is proud to honor and recognize the top 40 Under Forty with VUE Magazine. 40 Under Forty will recognize the very best young professionals and what our communities represent: diversity, inclusiveness, industry disruptors and innovators of all types!

Nominate your favorite young professional today. The deadline to nominate is July 21st. Email the nominated candidate’s name, address, business, email, and phone number to marmon@vuecommedia.com. They will receive an application that will be reviewed upon completion. Winners will be announced in the September issue.

Candidates must be under the age of 40 and must work in McCracken, Marshall, Calloway, Graves, Massac, Ballard, Carlisle, or Livingston counties.

40 Under Forty is presented by FNB Bank and VUE Magazine. FNB Bank, Member FDIC and Equal Housing Lender.

DREAM Together Check Presentation Held for Western Kentucky Insurance Agency

A check presentation was held on Thursday, June 29th, to present DREAM Together incentive funds to Jonathan Simpkins in the amount of $17,280. Simpkins took advantage of the DREAM Together partnership program offered by FNB Bank and First Kentucky Bank. The DREAM acronym stands for Downtown Revitalization & Economic Advancement for Mayfield.  Together, both Mayfield-based banks have partnered to provide incentives and low interest loans for businesses that want to rebuild and invest again in downtown Mayfield.  The collective goal of FKB and FNB is to stimulate economic development and put jobs back in one of the hardest hit areas in the community.

Jonathan Simpkins owns Western Kentucky Insurance Agency, located at 304 South 6th Street in Mayfield. The business was severely damaged in the December 10th, 2021, tornado that swept through Mayfield. The building was demolished and rebuilt. The new office building opened in April 2023 and features a drive-thru for added customer convenience.

About FNB Bank, Inc.

FNB Bank, founded in 1875, is one of the oldest banks in the state of Kentucky with assets exceeding $660 million.  FNB ranks among the highest in the nation in the area of safety and soundness. The bank currently has ten locations located in Graves, McCracken, Calloway, Trigg and Marshall County. FNB is Member FDIC and an Equal Housing Lender.

About First Kentucky Bank

First Kentucky Bank is a Kentucky-based community bank established in 1899 with assets exceeding $554 million. First Kentucky provides a personal approach to finances for those in six counties, including Carlisle, Graves, Livingston, Marshall, Muhlenberg, and Ohio. They are committed to bringing customers simple ways to connect, grow, and protect their financial health in both personal and business endeavors.  First Kentucky is a Member FDIC bank and an Equal Housing Lender.

FNB Bank Proudly Sponsors 14th Annual Lifeline Recovery Center Golf Outing

FNB Bank (FNB) is proudly serving as the title sponsor for the 14th annual Lifeline Recovery Center Golf Outing that will take place on September 8, 2023.  Proceeds from the golf outing will assist Lifeline with providing Christ-centered recovery from life-controlling addictions at Lifeline.

“We are happy to partner with Lifeline Recovery Center for a second year at the annual golf outing,” stated Ike Nichols, FNB Market President.  “We are confident our sponsorship and all golf outing proceeds will continue to help Lifeline have a meaningful impact on the lives of community members who are dealing with various addictions.”

Lifeline Recovery Center is a long-term residential recovery program for those dealing with drug and alcohol addictions, treating about 200 people each year at separate men’s and women’s campuses.  Lifeline was established in 2004 in Paducah, KY, and the program has served more than 2,000 people.  Since 2013, Lifeline has served over 2,000 people with a 63% success rate of sobriety after one year.

If you would like to learn more about Lifeline Recovery Center, more information is available at LifelineRecoveryCenter.org, including ways to donate.

FNB Bank, founded in 1875, is one of the oldest banks in the state of Kentucky with assets exceeding $660 million.  FNB ranks among the highest in the nation in the area of safety and soundness. The bank currently has ten offices located in Graves, McCracken, Calloway, Trigg and Marshall County. FNB is Member FDIC and an Equal Housing Lender.

FNB Bank Ranked Fourth in Small Business Division in 2023 Best Places to Work in Kentucky

FNB Bank (FNB) was recognized as the fourth best company out of 45 companies in the small business division in Kentucky at the 19th annual Best Places to Work in Kentucky awards ceremony.  FNB was the highest-ranking bank within the small business division and advanced one spot from its fifth-place ranking in 2022. On June 8th, more than 900 attendees joined in celebrating the 100 Kentucky companies and were recognized for their commitment to focus, measure, and move their workplace environments toward excellence.

The companies who made the 2023 list were announced in March and the ranked list was announced on stage last night at the awards ceremony in Lexington, Kentucky. The 100 winning companies participated in a comprehensive survey process and were then ranked according to those results. The list consists of three categories: small companies of 15-149 employees, medium companies of 150-499 employees and large companies consisting of more than 500 employees (categories based on number of U.S. employees, only Kentucky employees surveyed). Click here to view the full list of ranked winners.

FNB Bank, founded in 1875, is one of the oldest banks in the state of Kentucky with assets exceeding $660 million.  FNB ranks among the highest in the nation in the area of safety and soundness. The bank currently has ten offices located in Graves, McCracken, Calloway, Trigg and Marshall County. FNB is Member FDIC and an Equal Housing Lender.

FNB Donates $15,000 to Murray-Calloway County Hospital’s New Regional Cancer Center

FNB Bank, Inc. (FNB) is proud to donate $15,000 to Murray-Calloway County Hospital’s new state of the art Regional Cancer Center.  As part of the donation, FNB will be naming the Radiation Clinic Nursing Station.  The new Regional Cancer Center is a $15 million project, covering 17,954 square feet, and will provide detection, diagnosis, and care services all under one roof.

“We are proud to support the new Regional Cancer Center at Murray-Calloway County Hospital,” stated Sally Hopkins, FNB President and CEO.  “The specialized treatments, services and care that the new Cancer Center will provide will be an invaluable resource to our region during a time when patients need local and dedicated care the most.”

The Regional Cancer Center will be located on 8th Street at Murray-Calloway County Hospital and will offer patients and their families hometown care from highly skilled specialists.  For more information about the Regional Cancer Center, please contact Lisa Shoemaker at (270)762-1291 or visit www.murrayhospital.org.

FNB Bank, founded in 1875, is one of the oldest banks in the state of Kentucky with assets exceeding $660 million.  FNB ranks among the highest in the nation in the area of safety and soundness. The bank currently has ten offices located in Graves, McCracken, Calloway, Trigg and Marshall County. FNB is Member FDIC and an Equal Housing Lender.

CFPB Finds that Billions of Dollars Stored on Popular Payment Apps May Lack Federal Insurance

The Consumer Financial Protection Bureau (CFPB) published an issue spotlight on digital payment apps heavily used by consumers and businesses. The analysis finds that funds stored on these apps may not be safe in the event of financial distress, since the funds may not be held in accounts with federal deposit insurance coverage. The CFPB also issued a consumer advisory for customers holding funds in these apps and how they can make sure their funds remain safe.

“Popular digital payment apps are increasingly used as substitutes for a traditional bank or credit union account but lack the same protections to ensure that funds are safe,” said CFPB Director Rohit Chopra. “As tech companies expand into banking and payments, the CFPB is sharpening its focus on those that sidestep the safeguards that local banks and credit unions have long adhered to.”

Use of nonbank payment apps such as PayPal, Venmo, and Cash App have rapidly grown in the past few years. These apps allow people to quickly pay retailers and others, while providing the option to store funds. Unlike traditional bank and credit union accounts which have deposit insurance, funds stored in these nonbank payment companies may be unprotected.

In recent months, many Americans were reminded that funds deposited with banks and credit unions enjoy the safety afforded by federal deposit insurance through the FDIC or NCUA. Americans witnessed the failure of large systemically important banks such as Silicon Valley Bank, Signature Bank, and First Republic Bank. These banks experienced a run, but insured depositors could have confidence their money was safe. However, similar protection would not be guaranteed to customers that store money on nonbank payment apps.

Today’s issue spotlight finds that:

  • More than three quarters of adults in the United States have used a payment app. Younger customers’ use of these payment app services is especially prevalent. Approximately 85 percent of consumers aged 18 to 29 have used such a service. Transaction volume across all service providers in 2022 was estimated at approximately $893 billion, and is projected to reach approximately $1.6 trillion by 2027.
  • Nonbanks can earn money when users store funds on their platforms. When users of these digital apps receive payments, the funds are not usually swept automatically to the recipient’s linked bank or credit union account. Instead, companies hold and invest the funds. These activities are not typically subjected to the same oversight that an insured bank or credit union faces. Apps also earn money through fees on merchants and other ancillary services, like selling crypto-assets and offering affiliated financial products.
  • Funds sitting in payment app accounts often lack deposit insurance. When users receive payments, through these apps, these funds are not automatically swept into their linked bank or credit union account. In addition, payment app companies do not necessarily store customer funds in an insured account through a business arrangement with a bank or credit union. The company’s investments carry risk and if it were to fail, customers could lose their funds.
  • User agreements often lack specific information. User agreements for digital payment apps often lack information on where funds are being held or invested, whether and under what conditions they may be insured, and what would happen if the company or the entity holding the funds were to fail.

Many states are enacting policies to ensure that these digital payment apps are able to meet their obligations, including a new law recently enacted in Texas. State laws, however, generally do not require that customer funds be stored in or automatically swept into insured accounts. The CFPB will continue coordinating with other state and federal regulators to monitor the evolution of this segment of the payments ecosystem and take appropriate steps.

The CFPB also issued a consumer advisory providing information to customers that keep funds stored on payment apps. Until payment apps are designed to automatically sweep balances into a user’s insured account, consumers may need to take action to move their balances stored in payment apps.

Consumers can submit complaints about financial products and services by visiting the CFPB’s website or by calling (855) 411-CFPB (2372).

The Consumer Financial Protection Bureau (CFPB) is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. For more information, visit www.consumerfinance.gov.

By Consumer Financial Protection Bureau; Article published on June 1, 2023
CFPB Finds that Billions of Dollars Stored on Popular Payment Apps May Lack Federal Insurance | Consumer Financial Protection Bureau (consumerfinance.gov)

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