Pub. 10 2022 Issue 2

San Antonio — The Independent Community Bankers of America® (ICBA) today announced the election of its 2022-23 Executive Committee during the 2022 ICBA LIVE national convention in San Antonio.

Rising Rates: It’s Time to Implement a Marginal Cost Culture in Your Bank
Rates are on the rise. Banks are watching what their competitors are doing with their deposit rates. Richard H. Thaler, Behavioral Economist and recipient of the 2017 Nobel Prize for Economic Sciences, once summed up the human gut-level emotion of peer pressure and competition:

As the competition for quality employees increases and hiring needs escalate, there’s more pressure for banks to improve their onboarding process. The last thing a community bank wants to do is restart the time-consuming (and often expensive) hiring process because a new employee voluntarily leaves after just a few months.

Young & Associates provides banks and thrifts with support for their compliance programs, independent reviews, and in-bank training, as well as a full menu of management consulting, loan review, IT consulting, and policy systems.

More financial institutions are focusing on improving financial inclusion as the pandemic continues to expose inequalities in access to services. Some institutions have already worked underserved, and under-banked communities are actively engaged in solving the issue, but others might be wondering how to get started.

Community bankers are nothing if not predictable, and I mean that as a compliment. They are bright, enterprising, have a nose for the risk/reward dynamic and a sense of duty and loyalty to their customers and staff. They’re also deathly afraid of rising interest rates.

BHG Financial is transforming the financial industry — leveraging the power of data, analytics, and cutting-edge technology to become the number one source for professional loans and the creator of the largest community bank network in the country.

As community bankers, we know relationships matter. Our actions in support of local schools, nonprofits, businesses and other community institutions make a difference, and when our customers see our commitment to our communities, it deepens their connection with us.

In today’s tumultuous environment, optimism is a skill worth cultivating. Thankfully, that glass-half-full attitude comes naturally for community bankers. So, as I take the helm as ICBA’s chairman, I do so with a healthy dose of positivity.

Montana is now well into the Spring months. Having grown up in Montana, this is one of the best times of the year to be a resident of the Treasure State. Spring sees the leaves returning to the trees, the grasses are greening up, bears are coming out of hibernation, and the roads into Glacier National Park are being plowed open.