Steven
Lacewell, Ph.D.
The Center for Banking and Finance
Dr. Steve Lacewell, Director of Murray State’s Center for Banking and
Finance, has conducted two Leadership Development/Management Training Programs
for the Paducah Bank and Trust Company in Paducah, Kentucky. Each program is 18 months in length and
covers all aspects of bank management.
The program is primarily for mid-level employees with future management
potential. The participants meet once
per month for 4-6 hours and various topics are covered. One interesting aspect of this training
program is that in-bank expertise is used if at all possible. Thus, a senior commercial lender will conduct
the section on commercial lending. This
not only provides a cost savings to the bank but also allows the instructor to
tailor the presentation to the bank’s own customer base as opposed to a more
generic presentation given by an outside party.
Two additional programs are scheduled to begin in early 2006.
Dr. Lacewell
has also been approached by two additional banks regarding the possibility of
providing the aforementioned training for their insititutions. Talks with these banks are ongoing.
The Center is also
soliciting the opinion of area bankers regarding the needs of their
institutions. Possibilities include a
regional banking conference and/or banking school to be held on the campus of
Murray State University. This is in the
formative stages and will be an ongoing process.
The Center is in the
process of forming an advisory committee.
This committee will consist of senior-level financial managers from the
University’s service area.
The Center played an
active part in a grant application to provide training to bankers in rural
Mexico. Although the grant application
was unsuccessful for this year, we will actively pursue this program and others
like it in the future.
Dr. Steve Lacewell, as director of the Center, serves on the Opportunity
Loan Fund Committee for the city of Paducah, Kentucky. This is a joint program sponsored by the
Paducah Chamber of Commerce and Paducah-area banks. Its purpose is to provide loans to minority
small-business owners. Types of loans
include start-up loans, inventory and equipment purchases, and operating
loans. Loan applicants will be first
encouraged to apply for traditional bank financing. If the applicant does not qualify for bank
financing they will be considered for a loan directly from the Chamber of
Commerce. A pool of money was given to
the Chamber by the Tennessee Valley Authority several years ago for this
purpose. Dr. Lacewell
has received approval from the committee to utilize MSU students to help
analyze the loan applications. This is a
wonderful opportunity for MSU students to obtain real-world experience while
helping to expand the local business community.
Dr. Lacewell
has been active in establishing the “Let’s Keep Them At Home” program in
Paducah, Murray, Mayfield, and Paris, TN.
This program focuses on the “brain drain” in rural areas. This occurs when young people leave rural
areas due to the lack of job opportunities.
This program works with local businesses to establish internship opportunities
for area students. Hopefully students
will be encouraged to relocate, after college, back to these rural areas thus
providing businesses with young, well-educated employees with a desire to stay
in the area due to family, friends, etc.
The Center for Banking
secured several internship opportunities for students during the 2004 – 2005
academic year.
This is a great start for this program and a wonderful opportunity for
MSU students as well as internship sponsors.
Several students applied
for internships in the Henderson “Let’s Keep Them At Home” program. Applications were distributed in classes but
the actual number of students receiving internships in not known.
The Center for Banking was
directly involved in the employment of six graduates during the year. This is an excellent start and provides
excellent opportunities for both students and financial institutions.
Dr. Lacewell
will focus additional resources on research for this year. FIS (Financial Information Systems) bank and
bank holding company data has been purchased by the Center at a cost of $4,000
per year and can be used by a variety of faculty and students in the College to
aid in the process of research and publications.
Stephen K. Lacewell
Office:
Department of Economics
and Finance
307J Business Building
Murray State University
Murray, KY 42071
Phone: (270) 762-4285 stephen.lacewell@murraystate.edu
Fax: (270) 762-5478
Academic History:
Mississippi State University, Mississippi State,
MS
Doctor of Philosophy in
Business Administration
Major: Finance Minor: Economics Fall 2001
Mississippi State University,
Mississippi State, MS
Master of Science in
Business Administration
Major: Finance Fall
2000
Murray State University,
Murray, KY
Master of Business
Administration
Concentration: Finance Fall
1991
University of Tennessee at Martin,
Martin, TN
Bachelor of Science in Business
Administration
Major: Economics Minor: Finance Summer 1990
Academic Positions Held:
Director of the Center for Banking and
Finance,
Murray State University, 2002-Present
Associate Professor of Finance, Murray State University Department of Economics
and Finance, 2004-Present
Assistant Professor of Finance, Murray State University Department of Economics
and Finance, 2001-2004
Visiting Assistant Professor of Finance, Murray State University Department of Economics
and Finance, 1999-2001
Graduate Teaching
Assistant,
Mississippi State University Department of Finance and Economics, 1997-1999
Executive Lecturer, The University of
Tennessee at Martin Department of Economics and Finance, 1996-1997
Adjunct Instructor, Murray State University Department of Economics
and Finance, 1995-1997
Graduate Teaching Assistant and
Adjunct Instructor, Murray State
University, 1991-1992
Areas of Teaching Interest:
Commercial Banking
Financial Markets and Institutions
Investments
Corporate Financial
Management
Personal Finance
Teaching Experience:
Commercial Bank Management
Public Finance
Financial Markets and
Institutions
Principles of Economics
(Macro and Micro)
Corporate Finance
Principles of Investments
Intermediate Financial
Management
Financial Systems
(substitute instructor)
Publications:
“Testing Prerequisites in
Finance” Working
paper in progress, 2004, with C. Alan Blaylock.
“Fortune’s 100 Fastest
Growing Companies: Does This Growth Translate Into
Future Market Outperformance?” Working paper in progress,
2004, with Limount Zhao.
“Government Deposits and
Commercial Bank Profits: An Investigation,” Working paper in progress, 2004, with
David Brasfield.
“X-Efficiency, Performance, and Ratings of U.S.
Commercial Banks,”
Under review at the Journal of Financial Services Research,
2003, with Kevin Rogers and Larry White.
“Do Efficient Institutions Score Well Using Ratio
Analysis? An Examination of Commercial Banks in the 1990s,” forthcoming in the Journal
of Commercial Banking and Finance, (winner of Distinguished Research
Award in Commercial Banking), 2003 .
“Is Bank Performance Consistent Using Different Ranking Methods? An
Empirical Analysis,” Proceedings of the Allied Academies International
Conference, Fall 2002.
“An
Analysis of Alternative Profit Efficiency Scores and Financial Ratios: Does
Bank Size Matter?” Journal of Commercial Banking and
Finance, Vol. 1, 2002, pp. 1-22, with Larry
White and Kevin Rogers.
“The Relationship Between Bank Size, National Model Alternative Profit
Efficiency Scores, and Financial Ratios,” Proceedings of the Allied
Academies International Conference, (winner of Distinguished Research
Award in Commercial Banking), Spring 2002, with Larry White and Kevin
Rogers.
“A
Cluster Analysis of the Financial Characteristics of Depository Institution
Merger participants and the Resulting Wealth Effects,” Journal of Commercial Banking and Finance, Vol. 1, 2002, pp.
97-110, with Larry White and Michael Young.
“A Cluster Analysis of the
Financial Characteristics of Depository Institution Merger participants and the
Resulting Wealth Effects,” Proceedings of
the Allied Academies International Conference (winner of Distinguished
Research Award in Commercial Banking and Finance), Fall
2001, with Larry White and Michael Young.
“Charitable Contributions
in Bankruptcy: An Empirical Analysis,” The
American Business Law Journal, Volume 39, Issue 1, Fall 2001, pp. 99-137,
with Pearson Liddell and Gloria Liddell.
“Depository Institutions’
Stockholder Returns: A Cluster Analysis of Merger Characteristics and Their
Wealth Effects,” Proceedings of the
Southern Finance Association Annual Conference, 2000, with Larry R. White.
“A Time
Series Model and Forecast of Personal Bankruptcies in the United States,” Proceedings of the Academy of Business
Disciplines, 1999, with Larry R. White and Timothy H. Greer.
"What
if CUs Responded Faster to Market-Rate Changes," Credit Union Executive, November/December 1997, pp. 28-35, with
James D. Tripp and Peppi M. Kenny.
"An
Analysis of Credit Union Loan and Deposit Pricing in Response to Market Rate
Changes," Proceedings of the Academy
of Economics and Finance, Volume 21, 1997, with James D. Tripp.
Participation in Professional Meetings:
“Modern Banks: Are New Performance Evaluation
Methods Needed?” Submitted
to the annual Banking 2003 International Internet Conference sponsored by the
British Banking Association.
“Do Efficient Institutions Score Well Using Ratio
Analysis? An Examination of Commercial Banks in the 1990s,” Presented at the Fall 2002 Allied
Academies International Conference in
“An
Analysis of Alternative Profit Efficiency Scores and Financial Ratios: Does
Banks Size Matter?” Presented at the Spring 2002 Allied Academies International Conference in
“The Relationship Between
Profit Efficiency Ratings and Financial Ratio Analysis: A Comparison By Bank
Size,” Presented
at the 2002 Federation of Business Disciplines Annual Conference in
“A Cluster Analysis of the
Financial Characteristics of Depository Institution Merger participants and the
Resulting Wealth Effects,”
Presented at the Fall 2001 Allied Academies International
Conference in
“Depository Institutions’
Stockholder Returns: A Cluster Analysis of Merger Characteristics and Their
Wealth Effects,”
Presented at the Southern Finance Association 2000 annual meeting
in
“A Time
Series Model and Forecast of Personal Bankruptcies in the
"Business
Risk and Commercial Bank Holding Company Common Stock Returns: An Analysis of
Reaction to Interest Rate Changes," with Michael T. Young. Presented at Society of Business, Industry and Economics 1999
annual meeting in
"An
Analysis of Credit Union Loan and Deposit Pricing in Response to Market Rate
Changes," with James D. Tripp. Presented at the February
1997 Academy of Economics and Finance annual meeting in
Business and Professional Expericence:
Vice-President of Commercial Lending and Technology
Coordinator, Old National Bank, Fulton, KY,
1995-1996
Executive Vice-President
and Senior Loan Officer, Bank of Warrensburg,
National Bank Examiner, The Office of the Comptroller of the Currency,
Membership in Professional Associations:
Financial
Management Association
Federation
of Business Disciplines
Southern
Finance Association
Southwest
Finance Association
Allied
Academies of Business
Service Activities and Civic
Involvement:
University Academic
Council (2004-Present)
University Library
Committee (2004-Present)
AACSB Communications
Subcommittee (2004-Present)
Regents’ Teaching Award
Departmental Nominee (2003)
Finance Faculty Search Committee
(2004)
Regents’ Teaching Award
Departmental Nominee (2003)
Alpha Phi Alpha Fraternity
Appreciation Award (2003)
Ralph Woods Selection
Committee (2003)
Endowed Chair in
Investments Search Committee Member (2003)
Regents
Outstanding Teacher Award Selection Committee (2002)
Finance
and Economics Society Faculty Advisor (2001-Present)
Faculty
Senate (2001-2002)
Faculty
Senate Finance Committee (2001-2002)
Judge,
Region I FBLA and DECA Conference (1999-Present)
Captain,
Instructor,
City of
Murray State University
College of Business and Public Affairs Dean’s Advisory Council (1994-1997)
Board
of Directors, State of
Board
of Directors, City of Fulton, KY Community Leadership Institute (1996)
Board of Directors, Community
Bankers Association of
Instructor,
Junior Achievement Economic Education Program (1994-1995)