Magazine article Independent Banker

Quite Simply, Thank You

Magazine article Independent Banker

Quite Simply, Thank You

Article excerpt

As I wrap up my year as ICBA chairman and my last From the Chairman column, two words come to mind. They are, quite simply, thank you.

Thank you to all of you whom I've had the opportunity to meet over the past year during my travels, and thank you to those of you who-while our paths may not have crossed physically-stood together for one cause, community banking.

I want to thank all of you for everything you did to stand up, step up and speak up for our great industry. In my convention speech last year I asked you to do those three simple things, and without any hesitation, you did each of them. Our record demonstrates it.

Thank you for diligently reaching out to your members of Congress and educating them about how issues such as regulatory burden, the Federal Reserve dividend cut and the Financial Accounting Standards Board's proposed Current Expected Credit Loss (CECL) model would impact your community bank and the communities you serve. You answered ICBA's calls to action and activated letters through the Be Heard advocacy website. You didn't waver, and you didn't sit back and wait for someone else to hit send. You did it, and it's because of you that we moved a lot of mountains during the past year.

The Fed dividend measure is a prime example. Because of ICBA's and community bankers' advocacy to scrap Senate-passed legislation that would have required all Fed-member banks to pay for federal highways via cuts to Fed dividend payments, lawmakers agreed to exempt community banks under $10 billion in assets- with larger banks receiving relief as well. While ICBA and community bankers pushed to completely drop the dividend cut ever since the ill-conceived proposal advanced last July, this community bank exemption will save our industry an estimated $200 million yearly. …

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