Welcome to the post MIB Convention and Tradeshow edition of our magazine.

I write this article on a hot and smoky Montana day, just a few short days removed from the close of the 2024 MIB Convention and Tradeshow.

In keeping with the summer theme, let me start by giving you a fun fact about summer. It is said that pagans called the Midsummer moon the “Honey Moon” in honor of the mead made from fermented honey. That mead was, in turn, served during wedding ceremonies performed during the Summer Solstice. Hence, our modern use of the term “honeymoon.”

Turning back to the topic de jure, many of the 2024 convention attendees have informed us that this convention was MIB’s best convention yet. The convention saw a record in terms of vendor and associate member participation. This high participation outcome is a testament to the strength of the association and its enduring value to Montana’s community bankers and their partners.

Overall, the convention was well-rated by our member attendees. Initial feedback indicates we arranged for informative and interesting speakers, lined up a great opening reception at the University of Montana’s Washington-Grizzly stadium, and allowed for quality interaction time between MIB members and vendors.

Further, the convention activities proved, once again, to be a hit. It is hard to fathom that only a few short days ago, convention attendees were either whitewater rafting down the Clark Fork River or playing the 18th hole at the Canyon River Golf Club on a beautiful but warm Montana summer day. To this end, you will find within the pages of this edition of the Community Banker photos from the convention documenting all the fun that was had under the Big Sky sun. Can you spot yourself in one of the photos?

But, it wasn’t all play at our state convention — the convention also consisted, as it always does, of substantive discussion of the state of community banking both in Montana and nationally.

First, Melanie Hall, the Montana commissioner of banking, briefed the attendees Friday morning on timely matters related to the operation of the Banking Division. Ms. Hall indicated that the Division does not expect to sponsor any legislation during the 2025 Montana legislative session. Ms. Hall explained that her office had undertaken legislative efforts during the past several legislative sessions to clean up and modernize the substance of Montana’s Bank Act. As a result, further legislative action is not needed at this time, according to Melanie. Further, Ms. Hall engaged in a healthy discussion with convention attendees on whether there was a need for legislation in 2025 to (1) impose a tax upon Montana’s credit unions for commercial loan activities and (2) whether the Montana Legislature should enact state legislation to prohibit Montana’s banks from being purchased by tax-exempt credit unions.

Second, Jack Hopkins, current ICBA Vice-Chair, provided the convention’s keynote address. Mr. Hopkins gave an overview of the numerous services, both member and legislative, provided by ICBA. Mr. Hopkins noted that one of the most important roles that ICBA and, correspondingly, MIB perform on behalf of community bankers is to provide legislative and policy advocacy on their behalf. Mr. Hopkins highlighted the fact that, due to ICBA’s efforts, Montana’s community banks have been exempted from FDIC’s special assessment resulting from the Signature and Silicon Valley bank failures of early 2023. Mr. Hopkins noted that both ABA and MBA were notably silent on this topic — demonstrating the difference between the two banking associations.

Third, during the annual MIB members meeting, I provided the membership in attendance with a recap of MIB’s financials for the year 2023. I also covered the annual audit performed on the association. For those members of the association who were not in attendance, the association’s audit for 2023 was, once again, clean. The auditors determined that MIB was able to provide authoritative guidance for all fiscal transactions entered into by MIB during the fiscal year and that all transactions of the organization were verified.

As to the organization’s finances, the financial health of the MIB remains excellent. As of Dec. 31, 2023, the total consolidated assets for the MIB and its subsidiary, CBM, was $722,000. Compare this amount with the total amount at the end of 2022, which was $720,000 roughly. The bulk of the association’s assets are contained in various certificates of deposit owned by the association. The vast majority of the association’s expenditures are for member benefit purposes, such as for hosting the state convention, for the CBC regulatory compliance program, and for congressional and state advocacy.

All member banks have been mailed the financials and audit of MIB and CBM for the year 2023. If you are a MIB member and you have not yet received your copies of the documents referenced immediately above, please give me a call and I will get those documents to you for your review.

Finally, this year’s convention saw a new slate of officers sworn in to serve for the next two-year period. Loren Brown will take over for Tim Schreiber as MIB president. Amber Brown will step into the vice president’s role. Clinton Gerst will serve as the association’s secretary. Laura Clark will be MIB’s treasurer. Kenny Martin remains in his role as Montana’s ICBA representative. We thank Loren, Amber, Clinton, Laura and Kenny for their commitment to MIB and for their service to Montana’s community banking industry.

For those wondering, the 2025 MIB annual state convention will likely be held, once again, at Big Sky Resort. We are looking at dates falling within the middle of July 2025. I encourage you to mark those dates in your calendars now, and I hope to see you there for another great convention.

In conclusion, as was highlighted during this year’s state convention and in keeping with over 55 years of excellent member services, MIB remains the only financial association in Montana whose sole mission is to truly represent Montana’s community banks. And, with that in mind, on behalf of the MIB Board and staff, I thank all of you who attended the 2024 convention. We hope you enjoyed your time with us in Missoula. We thank you for your continued support of the “biggest little banking association in the West.”

Sincerely,

James Brown
Executive Director