TIMOTHY J. YEAGER. Assistant Professor, Humboldt State University. Fall 1995 to December 1997.

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1 Arkansas Bankers Association Chair in Banking University of Arkansas Business Building 302 Fayetteville, AR (479) (Tel) (479) (Fax) TIMOTHY J. YEAGER Work Experience Associate Professor, University of Arkansas, January 2006 to present. Holder of the Arkansas Bankers Association Chair in Banking. Responsibilities include teaching, research, and service to the University and Arkansas State banking community. Economist and Assistant Vice President, Federal Reserve Bank of St. Louis, 1997 through Managed the Supervisory Policy Analysis unit a research and policy unit within Banking Supervision and Regulation. Responsibilities included conducting academic research on relevant banking topics, developing curriculum and teaching assetliability management to bank examiners throughout the Federal Reserve System, (eventually) supervising the unit s surveillance activities, and attending pre-fomc meetings with the purpose of informing the St. Louis President on District banking conditions. Assistant Professor, Humboldt State University. Fall 1995 to December Assistant Professor, Ithaca College. Fall 1993 to May Education Washington University, St. Louis, Missouri. Ph.D. in Economics, December, M.A. in Economics, May, Saint Louis University, St. Louis, Missouri. Honors Bachelor of Science Degree in Business Administration, 1987.

2 Research and Professional Activities Work in Progress Financial Crisis and the Supply of Corporate Credit, with Santiago Barraza and Wayne Lee. Income Inequality, Leverage, and the Mortgage Crisis, with Kathy Fogel, Wayne Lee, and Liping Ma. The Effect of Distance on Community Bank Performance Following Acquisitions and Consolidations, with Gary Ferrier and Yingying Shao. An Historical Loss Approach to Community Bank Stress Testing: Can US Banks Survive Another Great Recession? Published Scientific Articles and Books (listed in reverse chronological order) "The Relative Contributions of Equity and Subordinated Debt Signals in Predicting Bank Distress During the Financial Crisis," with Scott Miller and Eric Olson. Journal of Financial Stability, 16 (2015) Valuation and systemic risk consequences of bank opacity, with Jeffrey Jones and Wayne Lee. Journal of Banking and Finance, 37 (2013) Opaque banks, price discovery, and financial instability, with Jeffrey Jones and Wayne Lee. Journal of Financial Intermediation, 2012, A value-at-risk approach to commercial real estate portfolio stress testing at US community banks with John Hall, David Kern, Tom King and Kevin Lee. Journal of Risk Management in Financial Institution, 2012, 5(1) Charter Value, Tobin s Q and Risk During the Subprime Financial Crisis, with Jeffrey Jones and Scott Miller. Journal of Economics and Business, Have Community Banks Reduced Home Foreclosure Rates? with Kathy Fogel and Raja Kali. Journal of Banking and Finance, September 2011, 35(9) On the Riskiness of Universal Banking: Evidence from Banks in the Investment Banking Business Pre- and Post-GLBA, with Victoria Geyfman, Journal of Money, Credit and Banking, (8): Did the repeated debt ceiling controversies embed default risk in US Treasury securities? with Pu Liu and Yingying Shao, Journal of Banking & Finance, 2009, 33(8) Is the Federal Home Loan Bank System Good for Banks? A Look at Evidence on Membership, Advances and Risk with Dusan Stojanovic and Mark D. Vaughan, Journal of Banking and Finance, 32(5), May 2008, The Financial Services Modernization Act: Evolution or Revolution? with Ellen Harshman and Fred Yeager, Journal of Business and Economics, July-August 2007, v. 59(4), pp

3 Are The Causes Of Bank Distress Changing? Can Researchers Keep Up? with Thomas King, and Dan Nuxoll. Federal Reserve Bank of St. Louis Review, January/February 2006, 88(1), pp What Does the Federal Reserve s Economic Value Model Tell Us About Interest Rate Risk at U.S. Community Banks? with Greg Sierra, Federal Reserve Bank of St. Louis Review, November/December The Demise of Community Banks? Local Economic Shocks Are Not to Blame, Journal of Banking and Finance, vol. 28(9), , Reducing the Risk at Community Banks: Is It Size or Geographical Diversification that Matters? with William R. Emmons and R. Alton Gilbert, Journal of Financial Services Research, April-June, 2004 pp Paper also was accepted and presented at a Whither the Community Bank? conference jointly hosted by the Federal Reserve Bank of Chicago and JFSR, March Do Federal Home Loan Bank Membership and Advances Lead to More Bank Risk- Taking?, with Dusan Stojanovic and Mark D. Vaughan, 2001 Bank Structure Conference Proceedings, Federal Reserve Bank of Chicago. Are Small Rural Banks Vulnerable to Local Economic Downturns? with Andrew P. Meyer, Federal Reserve Bank of St. Louis Review, March/April 2001, vol. 82, no. 2 pp Bank Size and International Capital Regulation, with Fred C. Yeager, Journal of International Banking Regulation, Summer Institutions, Transition Economies, and Economic Development, Westview Press, March Subsequently translated into Japanese by Shigeru Aoyama, and published by Toyokeizai Press, Introduction to Macroeconomics, an on-line text published by Econweb.com, January 1998 to Reply to a note on Encomienda or Slavery? The Spanish Crown's Choice of Labor Organization in Sixteenth-Century Spanish America," Journal of Economic History, June The New Institutional Economics and its Relevance to Social Economics, Forum for Social Economics, January Encomienda or Slavery? The Spanish Crown's Choice of Labor Organization in Sixteenth-Century Spanish America," Journal of Economic History, December Published Policy/Industry Articles Policy Normalization and the Fed s New Monetary Policy Tool: Interest Rates on Excess Reserves. The Arkansas Banker. December Students experience the joy of community banking in Belize The Arkansas Banker. February 2014.

4 New Opt-In Overdraft Rules Cost Arkansas Banks $39 Million Annually, with Kyle Mills. The Arkansas Banker, February The Foreclosure Crisis: Predatory Lending or Household Overreaching? with Bill Emmons, Kathy Fogel, Wayne Lee, Liping Ma, and Deena Rorie. The Regional Economist, July Mark It at Book or Book It at Market? The Debate Over Fair Value Accounting, with Gregory Sierra. The Arkansas Banker, June Why the Dreaded Inflation Won t Come, The Arkansas Banker, April Round Three: Arkansas Banks Versus the Economy, The Arkansas Banker, September Commercial Real Estate Portfolio Stress Testing, The Arkansas Banker, May Few Downsides to Geographical Concentration, The Arkansas Banker, June The Door Is Open, but Banks Are Slow to Enter Insurance, Investment Arenas, with Fred Yeager and Ellen Harshman, The Regional Economist, October, Basel II Will Trickle Down to Community Bankers, Consumers, with William R. Emmons and Vahe Lskavyan, The Regional Economist, April, The Two Faces of Banking, with Klimentina Poposka and Mark D. Vaughan, The Regional Economist, October The Housing Giants in Plain View, with William R. Emmons and Mark D. Vaughan, The Regional Economist, July Growing Jumbo CDs with CDARs, with Mark D. Vaughan, The Regional Economist, October Community Ties: Does 'Relationship Lending' Protect Small Banks When the Local Economy Stumbles? with John Hall, The Regional Economist, April The Futures Market as Forecasting Tool: An Imperfect Crystal Ball, with Bill Emmons, The Regional Economist, January Do Federal Home Loan Bank Membership and Advances Lead to Bank Risk-Taking? with Dusan Stojanovic and Mark D. Vaughan, Central Banker, Summer Is Federal Home Loan Bank Funding a Risky Business for the FDIC? with Dusan Stojanovic and Mark D. Vaughan, The Regional Economist, October "Do Community Banks Have a Future?" Central Banker, Winter Down, But Not Out: The Future of Community Banks, The Regional Economist, October Drive to Efficiency Leaves Smallest Banks Behind, with Boyd D. Anderson, The Regional Economist, July 1999.

5 Teaching Courses Taught Commercial Banking, 2006-present Advanced Commercial Banking, 2006-present PhD Seminar in Financial Institutions, 2006-present Study Abroad Course - Community Development: Belize, summers 2011-present Directed Undergraduate Honors Theses Monica Miller, Spring Community Bank Stress Testing and Benefits from Loan Diversification: Can Arkansas Banks Survive Another Great Recession? Morgan Pierce, Spring Inside Arkansas Banks Financials: The Case of Mobile Banking. Mark McCallum, Spring Improving and Monitoring the Microlending Program in Belize. Michael Ludolph, Challenges to Microfinance Lending in the U.S. Kyle Mills, Spring Opt-in Overdraft Regulation Significantly Affects US Bank Revenues. Siobhan Costello, Spring Credit CARD Act of 2009: The Impact on College Student Credit Card Responsibility. Kevin Miquelon, Spring Market Fragmentation through Dark Pools: Beneficial or Harmful? Bart Simmons, Spring Procrastination Does Pay Sometimes: How the Delay in Implementing Basel II Reduced the Effect of the Subprime Financial Crisis. The thesis was selected for publication in Inquiry. Eli Darrow Dawson, Spring Panics After Crashes: Assessing Fear in the Market After Lehman Brothers Collapses. Will Hoofman, Spring Did Fad Investing Lead to the Technology Bubble of 1999?