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Chairman’s Column

Jon Harrell | Chairman Arkansas Bankers Association

VIRTUALLY!

I am proud and honored to be the first ever Virtual Chairman of the Arkansas Bankers Association. I don’t have to tell anyone that this year has been like none other. When I was first approached for this position by Bill Holmes in 2018, part of his sales pitch was the allure of several paid trips to pretty cool destinations. Destinations do not appear to be part of the picture for 2020-2021. There was an opportunity to go to Omaha in June – missed out on a good steak and the possibility of seeing the Razorbacks in the College World Series. Portland was on the schedule in July and I can’t say I am disappointed that one was derailed, even though I am sure I could have gotten a federal escort! Boston doesn’t look good in October and I was really looking forward to going there and sitting in Norm’s chair at Cheers. Maybe Arizona in February, holding out hope on that one. My virtual induction as Chairman in May was memorable and I didn’t have to take up any time working on a lengthy speech.

The association postponed the Annual Convention scheduled in April until September. In late July, it was apparent that we needed to start planning a virtual Annual Convention on the September dates. Several of the association’s staff had been attending other state’s virtual conventions to observe the look and feel as to how it would work. So we will work with an outside consultant company to make sure we pull this off as fluidly as possible. We will still have our speakers as part of the Convention and have the Day with the Commissioner incorporated into our dates. Having the Convention virtually should allow for more of everyone’s staff to attend, especially the sessions that will directly apply to their specific job functions. We will be able to limit breaks and some of the pageantry which should allow us to condense the sessions so everyone can still make time for 18 holes of golf or a trip to the gym, whichever you prefer. Just make sure you get your preferred vendor to send you their credit card info so you can go to dinner on them after the first day.

By now, we have all attended several virtual meetings and some of us have even learned how to use the video link so that we can see each other. My bank board has been meeting virtually since March and it was recommended to me that we use Zoom or some other technology for video, but based on the average age of my board member, I think this would have been a futile endeavor. So, we make it work over the phone.

Most of the virtual meetings I have attended you get a mix of people using video and people on the phone being represented by a black box with their name at the bottom. Sometimes 6 The Arkansas Banker n Fall 2020

it’s nice to toggle back and forth maintaining video when you are paying attention and turning off the video when you are eating a sandwich or you step away for a bathroom break. Either way, the work always gets accomplished.

Since we are preparing for a virtual Arkansas Bankers Convention and Day with the Commissioner, I believe it is helpful to go over a few basic items regarding virtual meeting etiquette:

1. Please mute when you are not speaking so everyone does not hear ruffling papers and the sound of text notices;

2. If you are working from home, find a quiet spot so everyone doesn’t see members of your household going about their business behind you during the conference;

3. Make sure you test your camera angle prior to the meeting so everyone doesn’t have to see you reaching out and moving the camera eye staring at you and;

4. Try not to zone out during the virtual meeting because it can be distracting to everyone else as they try and figure just what the heck has got your attention, if anything.

I am really proud of the ABA staff and their willingness and dedication in taking on something that has never been done. It is a good thing they are not a bunch of former bankers because they would lack the creativity and ingenuity to pull this off! Seriously, I would like to thank all of you for the support you show the association and I am looking forward to leading this virtual Convention.

Who knows, I might make it to Arizona in February in person. If not, virtual it is. . .

ABA Launches Banker Hub: Peer Group Exchange

to ensure the ABA continues to provide relevant and valuable resources, we are excited to share that the ABA has launched the Banker Hub: Peer Group Exchange community board. It provides a place for bankers to share ideas, tips, and resources with their peers across the state. The communities each offer their own discussion topics, document libraries, and personal blogs.

To kick off the discussion, visit www.arkbankers.org and login. Then, click on the Peer Exchange graphic on the right side of the page. Select a community and click the Follow button. You will start getting email notifications any time someone posts to the community board.

The community boards are open to member banks, endorsed vendors, and our associate gold vendors. If there is a topic that you would like to see added to the community list, email Jessica Sahene at Jessica.sahene@arkbankers.org.

You’re keeping your health in check, but when was the last time you checked your financial well-being?

Business Tax Deductions

Are you taking advantage of all the tax deductions available to your business? Arkansas employers receive a business tax deduction up to $500 per employee when you match employee contributions into an Arkansas 529 Education Savings Plan.

Retirement

Are you maximizing all of your retirement contributions? If your employer matches your contributions up to a certain percentage, take advantage of that and, when possible, put in the maximum amount you can.

Education Planning For Your Children

Need to know which schools offer the best scholarships? Or how much you should be saving now to afford college later? ARCollegeSaver.org makes it simple with dynamic college planning tools and calculators.

Life After Death

Do you have a will and an estate plan? Have you thought about how your assets will be distributed when you are gone? Prepare a plan that will save your loved ones the burden of making those difficult decisions.

Arkansas Treasurer of State Dennis Milligan

www.artreasury.gov 501.682.5888