Trust Department Officers
Department Manager & Investments
Drew Linder, CFA, Senior Vice President FNB (479) 788-4332
Personal Trust & Estates
Brian D. Schneider, CFP, CTFA, Vice President FNB (479) 788-4343
Jeannie M. Wakefield, CTFA, Vice President FNB (479) 788-4353
Charles W. Blaschke, CPA, CTFA, Vice President FNB (479) 788-4288
Sonya Hall, JD, Vice President FNB (479) 788-4342
Employee Benefits & IRAs
Barbara B. Bethell, CEBS, CTFA, Vice President FNB (479) 788-4345
Lee Ann B. Neidecker, CPA, Vice President FNB (479) 788-4346
Genia Peerson, CPA, Vice President FNB (479) 788-4351
Trust Department Fax Number (479) 788-4605
Personal Trust Administration
In the area of personal trust administration, First National Bank of Rogers, A Division of FNBFS can serve as trustee for the following types of trust accounts:
A living trust is operative during the lifetime of the person who establishes the trust; this person is also known as the settlor. A living trust is revocable during the lifetime of the settlor, is flexible and can be tailored to fit the style, preferences and degree of involvement desired by the settlor. It can also be used as standby protection should the settlor become ill or otherwise incapable of handling their personal finances. The living trust can also be used in conjunction with a will for the dispositions of assets after death, thereby avoiding the necessity of probate proceedings.
A testamentary trust is established by the terms of a will for the benefit of remaining loved ones. The terms of such a trust can be molded to the desires and the intent of the testator, i.e. the deceased. Additionally, a testamentary trust can serve as a valuable planning tool for minimizing estate taxes.
A trust composed partly or wholly of life insurance policies on the life of the settlor which, if it is irrevocable and contains certain provisions, can provide for life insurance proceeds at the death of the settlor which are not included in the settlor's estate.
Trusts for Minors
Trusts for minors includes Section 2503(b), 2503(c) and Uniform Gifts to Minors
Charitable Foundations and Trusts
The Trust Department of First National Bank of Rogers, A Division of FNBFS can provide for professional estate settlement.
This is an important and vital task which involves the following duties:
- Obtain formal appointment
- Locate financial records
- Inventory of assets
- Notification of heirs
- Insure and protect assets
- Pay any debts or collect money owed
- Supervise any litigation
- Preserve and invest assets
- Estimate and control cash needs and maintain accurate records
- Analyze tax deduction choices, valuation decisions and distribution options
- Complete tax returns
- Prepare final accounting
And perhaps most important of all:
- Remain impartial
- Ensure that the distributions of assets are carried out exactly as instructed by the decedent in the will, or according to the law in the case of intestacy.
Estate Planning Tools
Our Trust Department can provide information and insights into the most up-to-date estate planning tools, including:
- Marital deduction and by-pass trusts to provide for exemption of the maximum amount allowed by law to be sheltered from estate taxes, including any appreciation of the assets contained in the by-pass trust. Charitable gifts during life or at death to provide for immediate income tax savings and for reduction of the taxable estate at death.
- Joint Revocable Trusts which, if certain provisions are included, can reduce the payment of estate taxes upon the death of both the first and second spouse to die.
- Grantor Retained Interests, which are irrevocable trusts into which the grantor places assets and retains income or the use of property for a fixed period of years. By doing so, the grantor makes a current gift of the right to trust assets to a remainderman at a specified date in the future. If the grantor survives the term selected, significant tax and other transfer cost reductions can be realized.
- Section 2503(b), 2503(c) and Uniform Gifts to Minors. These are methods for making gifts to minors in trust and obtain the annual gift tax exclusion.
- A Life Insurance Trust, if it is irrevocable and contains certain provisions, can provide for life insurance proceeds at the death of the settlor which are not included in the settlor's estate.
Agency accounts differ from trusts in that title to the assets in the agency does not pass to the trustee, but remains in the name of the owner of the property, who is referred to as the principal. First National Bank of Rogers, A Division of FNBFS offers two types of agency accounts - managed agency accounts and custodial agency accounts.
The Bank, as agent, has the duties of investment management, tax record keeping, asset safekeeping, collection of income, accounting of funds and making disbursements.
The duties of the agent are safekeeping assets, collection of income, accounting of funds, and making disbursements. The custodial agent has no investment management responsibilities.
Employee Benefit Accounts
First National Bank of Rogers, A Division of FNBFS can serve as trustee and/or custodian of the following types of Employee Benefit Accounts.
- Defined Benefit Pension Plans
- Profit Sharing Plans
- 401(k) Plans
- Section 125 Cafeteria Plans
- Employee Stock Ownership Plans (ESOPs)
- Simplified Employee Pension (SEPs)
- Voluntary Employee Benefit Associations (VEBAs)
- Individual Retirement Accounts (IRAs)
Other employee benefit services provided by First National Bank of Rogers, A Division of FNBFS include:
- IRS approved Prototype Plans
- Participant record keeping
- Investment management
- Investment custodial services
- Participant directed investments
- Self directed accounts
- Employee benefit education programs
- Tax reporting
- Full plan administration
- Coordination with outside managers
The investment management process in the Trust Department at First National Bank of Rogers, A Division of FNBFS is characterized by the following:
- Individualized Process
For each account, an individualized investment policy statement is developed after taking into consideration the objectives and constraints of the account. This policy provides a "blueprint" for the construction of the account's portfolio. The investment policy is reviewed on a periodic basis and adjusted as circumstances dictate.
- Emphasis on Appropriate Asset Allocation
The end result of the investment policy process is a target asset allocation, or the relative percentages allocated to each asset class such as stocks, bonds, cash, etc. We view this as critical, since research has shown that over 80-90% of investment results can be attributed to the asset allocation decision, with the remainder attributable to security selection and market timing.
- Long Term Focus
Our approach is a long-term approach; we do not subscribe to the current fads or chase last quarter's best performer.
- Frank Russell Partnership
In addition to individual securities and mutual funds, First National Bank of Rogers, A Division of FNBFS has a partnership with the Frank Russell Company, a world leader in pension fund consulting and money management. Through this partnership, we have available to us the Frank Russell family of funds.
Corporate Trust Services
Corporate trust services offered by First National Bank of Rogers, A Division of FNBFS are serving as trustee and paying agent on municipal and corporate bond issues.