CSBS Releases 2020 Journal of Community Bank Case Studies

As part of the 2020 conference proceedings, the Conference of State Bank Supervisors (CSBS) has released its annual Journal of Community Bank Case Studies. This year's volume features the top three submissions for this academic competition: Mississippi State University, Starkville, Mississippi;  James Madison University, Harrisonburg, Virginia, and Mansfield University of Pennsylvania. The first place team, Mississippi State, will present its findings at 1:30 p.m. ET on the second day of the conference. (See agenda.)

Despite the impact of the global COVID-19 pandemic that started last spring,  a total of 37 teams representing 33 colleges and universities entered the competition and examined the impact of the Bank Secrecy Act and Anti-Money Laundering (BSA/AML) requirements on community banks. They each partnered with a local bank to examine compliance challenges, associated time and costs and identify potential regulatory reforms.

Mississippi State University placed first with its submission, "Citizens National Bank and the Bank Secrecy Act and Anti-Money Laundering Act." The authors were Juan Benavides, Liam Benson, Byron McClendon, Jake Mlsna and Kirk Wright. Their faculty adviser was Matthew Whitledge, assistant clinical professor of finance. while the community bank partner was Meridian, Mississippi-based Citizens National Bank.

James Madison University placed second with its submission, "The Bank Secrecy Act in the 21st Century: A Study of Farmers and Merchants Bank." The authors were Manushree Bhatt, Homer Eliades, Henry Haas, Daniel Horowitz and Alexis Kakar. Their student adviser was Carl Larsson, assistant professor of finance.  F&M Bank, based in Timberville, Virginia, was the bank partner.

Mansfield University of Pennsylvania placed third with its paper, "Analysis of C&N: Navigating Through Bank Secrecy and Anti-Money Laundering Compliance." The authors were Seungho Lee, Anthony Mastroianni, Abi Welch and Sarah Hart. Their faculty adviser was Atika Benaddi, assistant professor of business administration with assistant professors Xiaoxuan Ji and Xia Zhou as co-advisers. Citizens & Northern Bank, based in Wellsboro, Pennsylvania, was the team's bank partner.

2021 Competition Now Underway!

Registration is underway for the CSBS 2021 Case Study Competition, with all statements of interest due by Jan. 11, 2021.

For the 2021 competition, students are asked to examine how community banks pivoted to serve their communities during the COVID-19 pandemic and the resulting economic crisis, as well as how banks evaluated their cultures and practices and renewed commitments to diversity and inclusion following episodes of racial injustice across the nation.

The annual competition is open to undergraduate students in all fields of study as an opportunity to gain valuable first-hand knowledge of the banking industry. Student teams will partner with local community banks to conduct original case studies. The top three winners receive scholarships, and their work published in the 2021 CSBS Journal of Community Bank Case Studies.

Visit the CSBS website for more information.