Summit Bank Article

A Decade of Stunning Banking Successn January of 2009, Summit Bank celebrated a major

milestone when it exceeded $1 billion in assets (today it has approximately $1.095 billion). In February of 2010, the bank recognized another important milestone – its 10th anniversary. How has Summit Bank had so much success so fast? The bank’s Web site credits a strategy that combines a “focus on customer service and conservative principles with a deep commitment to remaining a community bank at any size.”

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Summit Bank’s history dates back to 1996, when the original charter for Horizon Bank of Columbia

County was granted in Magnolia, Arkansas. The name was changed to Summit Bank in 2000, and its corporate and operational offices moved to downtown Arkadelphia. In addition to Arkadelphia, Summit Bank has a branch in Little Rock, Hope, Magnolia, Hot Springs, Hot Springs Village, Benton, Malvern and Bryant. It also has the long-term naming rights to the 6,200-seat sports and entertainment venue Summit Arena, acquired from the City of Hot Springs in 2002.

Even with all its success, Summit Bank’s influence is felt in ways beyond financial. Employees give more than 1,500 volunteer hours

annually, and the bank financially supports a large number of worthy causes and organizations including the American Cancer Society, the Boys and Girls Club of America, Habitat for Humanity, the Special Olympics, the United Way, the Arkansas Sheriff’s Youth Ranch, the Arkansas Human Development Corp., the Central Arkansas Radiation Therapy Institute and the Saline County Court Appointed Special Advocates. Summit Bank also supports higher learning institutions such as Henderson State University, Ouachita Baptist University and the University of Arkansas for Medical Sciences.

Since October of 2010 Summit Bank has had a business relationship with TriNovus founder and CEO David Brasfield. The bank utilizes the TriNovus product TriComply, a solution designed to keep banks informed of the latest regulatory

requirements and provide analysis on the best compliance method. Blair Rugh, a highly respected banking law expert with a juris doctorate from Southern Methodist University and more than 20 years of commercial and investment banking experience, heads TriComply.

TriComply allows banks to submit compliance questions and receive answers and advice from Rugh and his staff, as well as view questions and answers from other banks. Allow your staff to avoid a heavier workload by having the TriComply staff create new policies and procedures as required. The staff will also review submitted advertisements to ensure they have the appropriate disclosures. A weekly compliance newsletter authored by Rugh will address the most important compliance issues and provide advice to your bank. Banks can view and share TriComply’s online compliance videos – covering many topics – with staff

members and will also have access to software tools TriComply develops to assist with compliance.

What results has TriComply brought to Summit Bank? “It provides the compliance department a resource that it has confidence in,” says SVP and Risk Manager Brent Godwin. “With Dodd-Frank, the new Consumer Protection Reform Agency, the new rules that are coming out, and the increased emphasis by the regulators, we needed additional resources to ensure compliance. We had difficulty in recruiting additional qualified staff so outsourcing has been a part of our strategy. TriNovus is a part of the outsourcing strategy. TriComply is a tremendous asset: Time savings in researching questions,

product and policy review, advertising reviews, being confident that we are getting a correct answer. As the regulatory environment heats up, TriNovus will continue to be a good resource.”

For more information on TriComply or to schedule a demo online or in person, contact the TriNovus sales team at 205.991.5636 or visit www.trinovus.com. For more information on Mifflinburg Bank & Trust, visit www.mbtc.com for various location contact numbers.