Arkansas Bankers Association Chair in Banking University of Arkansas Business Building 302

Fayetteville, AR 72701-1201 (479) 575-2992 (Tel)

(479) 575-8407 (Fax)

tyeager@walton.uark.edu

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 2005. 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 asset-

liability 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 1997.

Assistant Professor, Ithaca College. Fall 1993 to May 1995.

Education

Washington University, St. Louis, Missouri.

Ph.D. in Economics, December, 1993.

M.A. in Economics, May, 1990.

Saint Louis University, St. Louis, Missouri.

Honors Bachelor of Science Degree in Business Administration, 1987.

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) 118-137.

“Valuation and systemic risk consequences of bank opacity,” with Jeffrey Jones and

Wayne Lee. Journal of Banking and Finance, 37 (2013) 693-706.

“Opaque banks, price discovery, and financial instability,” with Jeffrey Jones and Wayne

Lee. Journal of Financial Intermediation, 2012, 383-408.

“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) 60-75.

“Charter Value, Tobin’s Q and Risk During the Subprime Financial Crisis,” with Jeffrey

Jones and Scott Miller. Journal of Economics and Business, 2011.

“Have Community Banks Reduced Home Foreclosure Rates?” with Kathy Fogel and

Raja Kali. Journal of Banking and Finance, September 2011, 35(9) 2498-2509.

“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, 2009 41(8): 1649-1669.

“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)

1464-1471.

“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, 680-698.

“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. 313-39.

“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. 57-80.

“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 2004.

“The Demise of Community Banks? Local Economic Shocks Are Not to Blame,”

Journal of Banking and Finance, vol. 28(9), 2135-2153, 2004.

“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. 259-281. 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 2003.

“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.

25-38.

“Bank Size and International Capital Regulation,” with Fred C. Yeager, Journal of

International Banking Regulation, Summer 2000.

Institutions, Transition Economies, and Economic Development, Westview Press, March

1999. Subsequently translated into Japanese by Shigeru Aoyama, and published by

Toyokeizai Press, 2001.

Introduction to Macroeconomics, an on-line text published by Econweb.com, January

1998 to 2007.

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

1998.

“The New Institutional Economics and its Relevance to Social Economics,” Forum for

Social Economics, January 1998.

“Encomienda or Slavery? The Spanish Crown's Choice of Labor Organization in

Sixteenth-Century Spanish America," Journal of Economic History, December 1995.

Published Policy/Industry Articles

“Policy Normalization and the Fed’s New Monetary Policy Tool: Interest Rates on

Excess Reserves.” The Arkansas Banker. December 2014.

“Students experience the joy of community banking in Belize” The Arkansas Banker.

February 2014.

“New Opt-In Overdraft Rules Cost Arkansas Banks $39 Million Annually,” with Kyle

Mills. The Arkansas Banker, February 2012.

“The Foreclosure Crisis: Predatory Lending or Household Overreaching?” with Bill

Emmons, Kathy Fogel, Wayne Lee, Liping Ma, and Deena Rorie. The Regional

Economist, July 2011.

“Mark It at Book or Book It at Market? The Debate Over Fair Value Accounting,” with

Gregory Sierra. The Arkansas Banker, June 2010.

“Why the Dreaded Inflation Won’t Come,” The Arkansas Banker, April 2010.

“Round Three: Arkansas Banks Versus the Economy,” The Arkansas Banker, September

2008.

“Commercial Real Estate Portfolio Stress Testing,” The Arkansas Banker, May 2007.

“Few Downsides to Geographical Concentration,” The Arkansas Banker,” June 2006.

“The Door Is Open, but Banks Are Slow to Enter Insurance, Investment Arenas,” with

Fred Yeager and Ellen Harshman, The Regional Economist, October, 2005.

“Basel II Will Trickle Down to Community Bankers, Consumers,” with William R.

Emmons and Vahe Lskavyan, The Regional Economist, April, 2005.

“The Two Faces of Banking,” with Klimentina Poposka and Mark D. Vaughan, The

Regional Economist, October 2004.

“The Housing Giants in Plain View,” with William R. Emmons and Mark D. Vaughan,

The Regional Economist, July 2004.

“Growing Jumbo CDs with CDARs,” with Mark D. Vaughan, The Regional Economist,

October 2003.

“Community Ties: Does 'Relationship Lending' Protect Small Banks When the Local

Economy Stumbles?” with John Hall, The Regional Economist, April 2002.

“The Futures Market as Forecasting Tool: An Imperfect Crystal Ball,” with Bill

Emmons, The Regional Economist, January 2002.

“Do Federal Home Loan Bank Membership and Advances Lead to Bank Risk-Taking?”

with Dusan Stojanovic and Mark D. Vaughan, Central Banker, Summer 2001.

“Is Federal Home Loan Bank Funding a Risky Business for the FDIC?” with Dusan

Stojanovic and Mark D. Vaughan, The Regional Economist, October 2000.

"Do Community Banks Have a Future?" Central Banker, Winter 1999.

“Down, But Not Out: The Future of Community Banks,” The Regional Economist,

October 1999.

“Drive to Efficiency Leaves Smallest Banks Behind,” with Boyd D. Anderson, The

Regional Economist, July 1999.

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 2014. “Community Bank Stress Testing and Benefits from Loan

Diversification: Can Arkansas Banks Survive Another Great Recession?”

Morgan Pierce, Spring 2014. “Inside Arkansas Banks’ Financials: The Case of Mobile

Banking.”

Mark McCallum, Spring 2013. “Improving and Monitoring the Microlending Program in

Belize.”

Michael Ludolph, “Challenges to Microfinance Lending in the U.S.”

Kyle Mills, Spring 2012. “Opt-in Overdraft Regulation Significantly Affects US Bank

Revenues.”

Siobhan Costello, Spring 2012. “Credit CARD Act of 2009: The Impact on College

Student Credit Card Responsibility.”

Kevin Miquelon, Spring 2011. “Market Fragmentation through Dark Pools: Beneficial or

Harmful?”

Bart Simmons, Spring 2010. “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 2009. “Panics After Crashes: Assessing Fear in the Market

After Lehman Brothers Collapses.”

Will Hoofman, Spring 2008. “Did Fad Investing Lead to the Technology Bubble of

1999?”