May 5, 2021

“Buy local” is getting a lot of attention these days. And it should! Our main street businesses, vendors, and tradespeople continue to grind through unprecedented challenges — often without any safety net of cash to sustain them. Community bankers see the struggles of local businesses firsthand, and you have stepped up to help in many ways.

The financial press is full of news about CECL’s effect on loans, as well as how the effects of the coronavirus will affect CECL’s implementation. Yet, community banks will need to understand and strategize around the impact the new standard will have on their institution’s investment securities.

If my recent aggregate conversations with investment managers are an indication, there is still a lot of seat-of-the-pants decision-making going on out there when it comes to portfolio strategies. And I hasten to add this is not a criticism; it’s merely an observation. Why should we expect anything else?

Attracting and retaining talent is often a top priority for HR departments. The effects of the current pandemic on the job market, have made this more challenging. While there may be more candidates than usual, attracting quality talent and retaining top performers remains a struggle, worsened by COVID-19 and its effects on the workplace.