Happy New Year. 2024 brings with it new opportunities, new challenges and a new chance to tell the Montana community banking story.

It is the individual stories of MIB’s community banks that bind us together as Montana’s only community banking association. As we know, it is relationship banking that differentiates MIB’s members from other financial institutions. It is the ability to interact directly with customers that separates Montana community banks from the too-big-to-fail institutions and those credit unions claiming to be community banks.

Every member of MIB has a story to tell to its customers. And it is that community-oriented story that has separated us in the public’s eye from the failures of Silicon Valley Bank, Signature Bank in New York and First Republic in San Francisco. Further, the resilience of the community banking model has regained credibility with regulators and policymakers alike. This was demonstrated by the FDIC late in 2023, exempting community banks with assets under $5 billion from its special assessment.

In 2024, all of us must work together to protect and promote Montana’s community banking industry. MIB has already laid the groundwork for this effort by undertaking in late 2023 a groundbreaking digital marketing campaign on behalf of the association membership. The marketing campaign was conducted on a statewide basis and accomplished two things. First, it informed Montana consumers of the benefits of banking locally. Second, the campaign directed those who clicked on the ads to a list of MIB members.

The program consisted of two spots, a 30-second spot and a 15-second spot. The spots highlighted the fact that those who bank with a Montana community bank ensure their hard-earned dollars are invested in the community in which they live. The program saw the association deliver over 650,000 impressions to those living in the Treasure State.

In addition to engaging in marketing on behalf of MIB’s membership, in the coming year, the membership will continue to offer a host of continuing education opportunities. The very popular Women in Banking Conference will be held Nov. 1-2, 2024, in Bozeman. The annual Agricultural Lending Conference is set for Oct. 15 in Great Falls. And Missoula will be the location for MIB’s Annual Trade Show and Convention. The convention will run July 17-19 this coming year. In keeping with the need to tell the community banking story in 2024, MIB will offer several educational sessions designed to provide you with tips and tricks for better marketing your institution. What’s more, MIB will continue the partnership with ICBA in our shared efforts to educate the public and lawmakers on the unfair advantage ($4 billion and growing) credit unions have as a result of their tax-exempt status.

Further, MIB will continue to be the go-to resource for bank training. MIB has renewed its partnership with the Community Bankers Webinar Network, a Montana-based company, and we encourage you to utilize their products and services both for your employee’s benefit and for the financial benefit of the MIB.

Also of note, at the end of 2023, CSBS released its very informative annual community banking survey. The survey reinforced what many of your members know will be business challenges in the year before us. Those challenges include the risks related to net interest margins and cost of deposits. Cybersecurity, liquidity and staff retention were other areas identified as being of high risk. As we move forward into the Chinese Year of the Dragon, higher interest rates will continue to have an impact on your bank operations and those of your bank customers.

In sum, MIB specifically, and Montana community banking generally, had a very successful year this past year. But there is still more to be done in 2024, and MIB will be right there to support your bank in the months ahead.

Thank you again for the honor of serving as MIB’s Executive Director — 12 years and counting. Every year I have been with the organization has been the best one yet for me.

From all of us here at your community banking association, we wish you a healthy, prosperous and safe 2024.