BankWise - March 21, 2019
“I feel privileged to advocate on behalf of the nation’s community banks as we work to advance pro-growth policies that will promote economic opportunity in every corner of our country.”
Preston Kennedy, president and CEO of Zachary Bancshares Inc. in Zachary, La., who was elected 2019-20 chairman of ICBA today.
As the winner of our LEAD attendee essay contest, Star Bank’s Heidi Wurm has earned an all-expense-paid trip to Washington D.C., for ICBA’s Capital Summit, April 28-May 1.
“I believe community banking is at a pivotal crossroads,” Wurm wrote. “In a world that is lost in the fast lane of technological advancement, community banks still hold to standards that don’t waiver…everyone needs a banking experience that fits them, and we can’t make customers squeeze into corporate banking boxes.”
An important leadership trait is the ability to advocate for yourself and for your constituents. For community bankers, constituents are customers, work colleagues, and the industry itself. Emerging community banking leaders, therefore, need bank advocacy experiences.
Read more the contest and about Heidi’s essay at ICBM.org.
During the last week, lawmakers in both the state house and senate introduced bills that would appropriate $500,000 in fiscal years 2020 and 2021 for a grant to charter a credit union to provide financial services to low-income individuals.
“Credit unions already act like banks without paying income taxes,” said ICBM President & CEO Jim Amundson. “The idea that we need to use the tax dollars that everyone else pays to fund a new credit union charter is preposterous. We oppose this bill!”
(Sponsored content from Performance Trust Capital Partners)
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!
Grand Rapids banker Noah Wilcox, who served as ICBM chair in 2012-2013, moved up to chairman-elect from vice chairman today at the ICBA convention in Nashville. Wilcox is president, chairman and CEO of Grand Rapids State Bank and its holding company, Wilcox Bancshares Inc. He is also chairman and CEO of Minnesota Lakes Bank in Delano.
Over the years he has served in many leadership roles at ICBA. Wilcox is TCM Bank chairman, a past chairman of ICBA Bancard and served on the ICBA Services Network Board. He previously served as an ICBA at-large director from 2013-2016 and served as vice chairman on the Bank Services and ICBPAC committees.
“By driving local economies and creating local jobs, community banks are an integral part of our financial system and serve a key role in our nation’s economy,” Wilcox said in 2018 in the Grand Rapids Herald. “It’s an honor and a privilege to bring attention to the issues affecting Main Street, while providing policymakers with legislative and regulatory solutions that would yield meaningful and tangible results for the communities we serve.”
Preston L. Kennedy, president and CEO of Zachary Bancshares Inc. in Zachary, La., was also elected chairman of ICBA for 2019-20 today. He takes the gavel from Timothy K. Zimmerman, CEO of Standard Bank in Monroeville, Pa.
Thank you to all our members who attended the Minnesota reception at ICBA Live!
There’s a projected increase in U.S. corn acreage and a decrease in soybean acreage compared to 2018 levels, according to the latest USDA Ag Outlook Forum, held in Washington, D.C., in late February.
The forum also forecasted the continuation modest price levels for grains and livestock for the coming year. Click through for USDA projections for crop acreage, yields, production, usage and grain prices for major crops.