BankWise - March 14

“Stop Large Credit Unions From Receiving Preferential Treatment.”

ICBM President & CEO Jim Amundson on an article outlining the expansion of unfair preferential treatment for credit unions. Follow Jim at twitter.com/ICBM_Banker.

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Impact hits desks

The first issue of ICBM’s redesigned member magazine has arrived!

Congrats and thank you to our member, HomeTown Bank. It is an honor to cover your participation in an initiative to add financial literacy to high school education in Shakopee.

Thank you as well to Aleesha Webb for interviewing with us on your commitment to community banking as the newly named CEO of Village Bank in St. Francis.

The issue also offers:

  • A message from your Chairman, Lon Rylander.
  • An introduction to ICBM’s newest associate members.
  • Our top 25 lists of highly profitable Minnesota banks.

Read the full magazine here.

House lawmakers introduce safe harbor law for pot banking

On the heels of the first-ever congressional hearing on the issue of cannabis banking, H.R. 1595, the Secure and Fair Enforcement (SAFE) Banking Act of 2019 was introduced as the leading bipartisan legislation to address regulatory concerns that hinder the traditional banking system from serving cannabis-related businesses. 

The bill is supported by Independent Community Bankers of America. Washington community banker Greg Deckard testified before the House Committee on Financial Services in favor of the SAFE Act in February. “The current conflict between state and federal law,” he said, “has created a cloud of legal uncertainty for community banks [and] inhibited access to the banking system for cannabis-related businesses.” 

Here’s a look at the current state of marijuana banking and how the SAFE Banking Act could change that. 

Attend the premier Midwest Community Banking Expo!

  • Over 40 Exhibitors.
  • Expert education sessions.
  • Network with Midwest community bankers.

Join Minnesota community bankers in discussion and prep for rates down!

(Sponsored content from Performance Trust Capital Partners) 

After the longest period of recession-free growth in recorded history, community banks’ cost of funds is still at all-time lows. 

What will happen to your bank’s net income if recession lowers rates and slows loan demand? Two Minnesota community banks have prepared for an economic slowdown scenario. Come and benefit from their insights. 

Attend their discussion with Performance Trust Capital Partners on Thursday, April 4 at 10:00 a.m. CST!

Participants:

  • Tom Geiger of Heritage Bank
  • Matt Verdoorn of Lake Area Bank
  • Eric C. Brown of Performance Trust Capital Partners

Register Now for Free!

CFPB wants PACE feedback

ICBM-backed state legislation on residential Property Assessed Clean Energy financing passed last year. Now the Consumer Financial Protection Bureau wants comments on proposed PACE federal regulations. The bureau wants feedback on current best practices and written materials as well as about the structure, funding, and repayment of PACE financing transactions and the relationship to local property tax systems. Comments are due May 7.

MARK YOUR CALENDAR

Hosted in Hopkins, Morton, Alexandria, and Rochester.
Join your ICBA peers in advocacy for community banking on April 28 - May 1.

Faces and Places

 

Agriculture: A new safety net for dairy farmers

The Dairy Margin Coverage program created by the farm bill will serve as a new safety net for dairy producers. It tweaks the previous Market Protection Program to make the MPP more affordable for many dairy producers. It largely affects smaller herds (250 or fewer cows), but larger operations can also benefit.

Sign-ups are due by June 17; here are some highlights of the improvements offered.

Quick Links

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Bloomington, MN 55425

Phone: 651.687.9080

Fax: 651.687.9387

info@icbm.org

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