FBF Magazine Issue #3 by FloridaBankingForum

FLORIDA BANKING FORUM

FOCUS

FEATURED SPEAKERS

KATHY KRANINGER PRESIDENT & CEO OF FLORIDA BANKERS ASSOCIATION

ISRAEL VELASCO

FLORIDA REGION EXECUTIVE OF POPULAR BANK

FBF FBF

PUBLISHER

NORMAN ISAZA

EDITOR - IN - CHIEF

CARLOS JARA

CONTENT DIRECTOR

YESENIA MORENO

MANAGING EDITOR

LORAINE TEJADA

EVENT DIRECTOR

NICOLE ISAZA

CONTRIBUTING WRITERS

MELANIE ISAZA

ORLANDO DIAZ

NORMAN ISAZA

PHOTOGRAPHERS

EDUARDO MENDEZ

OUR CONTRIBUTORS

ORLANDO A. DIAZ

President of Metro Fund Inc. in Miami, Florida, a leading private capital provider in South Florida

President of the Florida Association of Mortgage Professionals

DR. CLAUDIA URIBE

Director @ Miami-Dade County Fair | Mental Health Therapist | Professor at University of Miami

DIGITAL CONTENT COORDINATOR

CAROLINA IGLESIAS

Letter from our FLORIDA BANKING FORUM

President & CEO

Thespiritofgivingisatimelessforce,woven intothefabricofhumanity.It’sinthesmall, thoughtfulgestureswemakeeveryday,and it’s in the grand acts that transform communities.Thisseason,letusembracethe power of giving, knowing that each contribution, no matter how small, makes a profoundimpact.

Embrace the Spirit of Giving: Support Your Community Foundations This Holiday Season

As the holiday season approaches, a spirit of generosity fills the air, reminding us of the importance of community and connection. This time of year is not just about festivity and celebration; it also offers a poignant opportunity to reflect on how we can give back to the foundations that strengthen our neighborhoods and uplift those in need.

In every community, there are foundations dedicated to various causes education, health, housing, and social justice, to name a few These organizations work tirelessly, often with limited resources, to make a profound impact in the lives of others They provide essential services, support vulnerable populations, and create programs that foster growth and resilience However, they cannot do it alone They rely on the generosity of individuals like you to help fuel their missions.

This holiday season, consider how your contributions whether financial, in-kind donations, or volunteer hours can create ripples of change.

FBF FBF

THE PERFECT PLACE TO EXCHANGE IDEAS

Kathy Kraninger

Kathy Kraninger is President and Chief Executive Officer of the Florida Bankers Association (FBA), a trade association that, through advocacy, education, and engagement, supports Florida bankers in better serving their customers and communities. Established in 1888, FBA today represents more than 150 banks of all sizes operating in the state of Florida and their 134,000+ dedicated employees.

From December 2018 to January 2021, Kraninger served as Senateconfirmed Director of the Consumer Financial Protection Bureau. She also has served on the Federal Deposit Insurance Corporation Board and the Financial Stability Oversight Board, and as chair of the Federal Financial Institutions Examinations Council.

“It’s really about work ethic I don’t consider myself an "expert," even though others may view me as one in several areas The more you learn, the more you realize how much there is still to know, and that’s a fundamental truth in life.”

Can you share a memorable moment from your early career that significantly shaped your professional path?

I’ve definitely found that doors tend to open when you’re actively looking for them, and sometimes things happen that you don’t even realize are a big deal at the time. After college, I went overseas to serve in the Peace Corps for just over two years I was stationedinUkraine,andwhenIreturnedin1999,Iwasspending New Year's with my entire family on Santa Island, a place we ' ve been going to for years At that point, I had made the decision to pursue work on a Presidential campaign I had been a political science major, and while my parents were civically engaged, they werenolongervolunteeringoncampaigns

Myfatherknewonelawyerwhohethoughtwasinvolvedwiththe RepublicanParty inOhio,where I’m from.That lawyerforwarded my resume to the head of Bush for President in Ohio. You might think that my resume, one of many, could have easily gotten lost, and it didn’t seem to have much to set it apart But the key detail wasthatthepersonwhoreceiveditwasBobKuduchik Bobwasa Ukrainian American, just like me So, he immediately called me, saying, “Come down, I want to meet you” He was eager to hear what was going on in Ukraine from someone who had just been there

I drove from Cleveland to Columbus, thinking, "Wow, this is my interview. This could lead to a job on the campaign." And as luck wouldhaveit,thatsameday,hewasapprovedtohireanassistant. Iwastheonlypersonheinterviewedforthatposition

Who are the leaders that you looked up to and tell us why?

I've been incredibly fortunate in my career to have had some exceptional public servants as mentors and bosses One in particular stands out, though you might not have heard of him NormanMineta HeservedasacongressmaninCalifornia,mayor of San Jose, Cabinet Secretary of Commerce under President Bill Clinton, and Secretary of Transportation under President George W Bush Norman was my first boss when I worked at the Department of Transportation, and he was truly an inspirational leader

On September 11th, Norman played a crucial role in ensuring the smooth operation of the Department of Transportation and the FAA during such a critical time He made the tough decisions, including the creation of the TSA, and his leadership was instrumentalinguidingusthroughthatcrisis Everythingwewere working on at the department shifted overnight, and his guidance during that period was invaluable He was, without a doubt, an extraordinaryleader

If there’s one advice that you could give someone who is aspiring to become a leader what will the advice be?

Kraninger believes that leadership boils down to one factor, “-it’s really about work ethic I don’t consider myself an "expert," even though others may view me as one in several areas The more you learn, the more you realize how much there is still to know, and that’safundamentaltruthinlife”

I also think it’s about curiosity and a constant willingness to learn I’m always striving to improve, to challenge myself, and to view things from different perspectives The best way to uncover new opportunities is by learning from everyone around you. It's crucial to stay open to surprises about what interests you and what motivatesyou”

“I definitely find that doors open when you’re looking for them and things can happen that you don’t even realize at the time what a big deal they are. “

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Florida Banking Forum

EACH MONTH, WE BRING TOGETHER FINANCIAL LEADERS, INDUSTRY EXPERTS, AND VISIONARIES TO NAVIGATE THE EVOLVING LANDSCAPE OF BANKING IN THE SUNSHINE STATE.

THIS FORUM ISN’T JUST A MEETING IT'S AN OPPORTUNITY TO CONNECT, EXCHANGE INSIGHTS, AND SHAPE THE FUTURE OF OUR LOCAL AND REGIONAL BANKING INDUSTRIES

At Florida Banking Forum, we embrace the present. These moments leave a lasting impact, shaping not only our memories but also the dynamic careers that bind us together.

Each experience contributes to our growth, fostering a culture of collaboration, innovation, and shared success, where every moment plays a vital role in driving both personal and professional development

FBF INDUSTRY LEADERS

LOURDES MENDES

SVP, Relationship Manager at Cadence Bank

Lourdes Mendes is an experienced banker with over 30 years in the Florida Banking industry, with strong roots in Miami-Dade County’s Hispanic community She began her career working with international clientele at Citibank and later at HSBC She transitioned to correspondent banking, assisting community banks throughout Florida with their lending, operations and treasury management needs Lourdes serves the financial community as a board member on the South Florida Banking Institute for the last 19 years She is also an active member of the FBA serving on the Government Relations Council, and the Women in Leadership conference committee.

PABLO ESTEPE

SVP, Head of Retail & Business Banking at Pacific National Bank

Pablo Estepe is an experienced industry veteran with 28 years of banking experience working with commercial/consumer clients and leading successful banking teams across the Tri-County area

With a solid banking background, Pablo has been providing financial solutions in the dynamic Miami-Dade, Broward, & Palm Beach County markets Pablo is actively involved in the community and participates in numerous organizations, including Coral Gables Chamber, Chamber South and Greater Miami Chamber In addition, Pablo previously served as a Board Member for Baptist Health Foundation and was the Chair for the Young Philanthropists of Baptist Health

JESSICA GOLDBERG

Senior Vice President, Human Resources Director at U S Century Bank

Jessica Goldberg has over 22 years of experience in the banking industry, specifically in Human Resources. Ms. Goldberg is currently a Senior Vice President and Human Resources Director at U S Century Bank, a publicly traded (Nasdaq: USCB) community bank headquartered in Doral with approximately 200 employees and 10 banking centers serving South Florida Ms Goldberg serves on the Board for the South Florida Banking Institute and the Center for Financial Training Previous, she served on the Board of the Boys & Girls Clubs of MiamiDade Ms Goldberg is also the co-founder of a local Human Resources networking group, Human Resources Banking Partners

Where you come first.

At FirstBank, we want you to think of our bank as a “second home,” where you can feel valued and supported. Because no matter where life takes you, we’ll be here, putting you and your dreams first.

Team New Edge Associates

good morning BREAKFAST coral gables CHAMBER

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Greater Miami Chamber of commerce

Centennial celebration coral gables chamber

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Network Involvement

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Trustee Members & GEM Investors coral gables Cahmber

Thesis x Curio ribbon cutting

THE PERFECT PLACE TO EXCHANGE IDEAS

FBF FBF Israel Velasco

“Knowledgeable, trustworthy, caring, innovative. I think that's who we are. We are our mission. Our purpose is to put people at the center of progress.”

Florida Regional Executive of Popular Bank

Israel Velasco is a prominent figure in the banking industry, boasting an impressive 39-year career that has evolved alongside the financial landscape Recently, he shared his insights during a live recording, reflecting on his journey, the challenges of traditional banking, and his commitment to community involvement.

Velasco began his career as a Bank Teller at the age of 18 after realizing his passion for finance while working at Publix Over the years, he climbed the ranks through various positions, including Branch Manager and Commercial Lender His journey took him to Eastern National Bank, where he managed a new branch, solidifying his leadership skills He later joined Colonial Bank, where he became the youngest President and CEO in South Florida at just 34 years old.

Now, as a leader at Popular Bank, Velasco has overseen significant growth, transforming the bank from $15 million in loans and deposits to a staggering $4 billion in loans today

His emphasis on organic growth and teamwork has fostered a supportive environment that has proven beneficial for both employees and customers alike.

During the discussion, he addressed the impact of fintech on traditional banking, noting that the industry must evolve to keep pace with technological advancements He underscored the importance of adaptation, drawing parallels with companies like Kodak and Blockbuster that failed to innovate. Velasco emphasized that the banking industry must embrace change to avoid becoming obsolete

Work-life balance is another area Velasco values greatly He advocates for mental health and family time, encouraging employees to disconnect from work after hours He shares a personal commitment to fitness and family, starting his day early with exercise and making time for his three daughters.

Culturally, Popular Bank is deeply rooted in community involvement Velasco highlighted the bank’s foundation, which matches employee contributions to local organizations, promoting active community participation The bank supports various initiatives, including financial literacy programs and disaster relief efforts, demonstrating its commitment to social responsibility.

In addition to his banking career, Velasco is also an accomplished bowler He started bowling at a young age and has remained competitive, participating in PBA 50 tournaments and nurturing a passion for the sport.

In closing, Velasco offered valuable advice to aspiring professionals: stay focused on your goals, embrace continuous learning, and uphold high ethical standards His journey is a testament to the power of dedication, integrity, and the importance of community in the banking sector

Israel Velasco's story is one of perseverance, leadership, and a commitment to both his profession and his community, making him a respected figure in the banking industry.

fromthe publisher

NORMAN ISAZA

Dear FBF Community,

As we approach the end of another year, I want to take a moment to reflect on the blessings we've shared and the strength we've shown together This holiday season is a wonderful opportunity to express gratitude for the connections we've built and the support we've given one another

We’ve faced challenges, celebrated milestones, and created unforgettable memories Each of you has played a vital role in making our community a vibrant and caring place Your kindness, resilience, and generosity have truly made a difference

Let us cherish the moments we've had and look forward to the opportunities that lie ahead May this season bring you joy, peace, and the warmth of family and friends Thank you for being a part of this incredible community Together, let's continue to lift each other up and spread love and kindness in the year to come.

Wishing you all a wonderful holiday season!

Warm regards,

IFB CORDIALLY INVITES YOU TO

IFB CONNECTIONS

HONORING CLIENTS, SUPPORTING COMMUNITY

This special evening celebrates our valued clients and supports the inspiring work of Crystal Academy, dedicated to helping children with autism shine bright.

WEDNESDAY

FEBRUARY 12, 2025

6:00-8:00 PM

IFB Headquarters; 777 SW 37TH AVE SUITE 500, MIAMI FL 33135

Join us for an elegant evening celebrating you our valued clients. Enjoy great company, delicious food, drinks, and live entertainment. Dress code: Business Casual

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25 YEARS OF BANKING EXPERTISE 305

PAAST CPA’S AND CONSULTANTS

In August 1999, 4 partners gathered with the hope of creating a firm built on culture and excellence Its motto: “Great People / Great Clients – Nothing Else Matters ” “We started off with one client and a dream,” says Alexander Sueiro, one of the firm’s partners. “Although we had all worked for a large firm and had specialized in the financial services industry, we never knew what direction the firm would take us at that time All we knew was that we wanted to work together and to make the firm a place that team members would enjoy and that clients could rely on ”

As with many startups, the firm began to service several industries, which allowed it to start to hire a group of young talented team members. One of its first hires? A fresh out of college intern named Ali Ruiz, who is currently a partner and leader of the financial institution practice at the firm “Ali hit it out of the park from day 1,” says Carlos Perez-Abreu, the managing partner at the firm. “I remember thinking to myself that I would try out public accounting and give it a year or two,” says Ruiz “Here I am, twentyfive years later, and I guess you can say that it went much better than I originally thought ”

As any business can attest, success comes from hard work and dedication, often with a little bit of luck sprinkled into the mix For PAAST, that little bit of luck came in the form of Sabanes-Oxley “We all came from another firm and left under great circumstances,” says Sueiro. “We loved the people at our former firm and we made a decision not to recruit their team members or their clients They had treated us well and it was the right thing to do ”

“Well, Sarbanes comes around in 2021 and firms suddenly had to decide whether to keep the external audit work or the consulting work Our former employer kept the external audit work for their financial institutions practice and since we were so familiar with their clients, they referred the internal audit work our way Overnight, we went from a trickle of financial institution work to a flood ”

Now celebrating its 25th year, PAAST has experienced unprecedented growth and has positioned itself amongst the top accounting firms in South Florida From the start, PAAST has prioritized building strong client relationships and a culture of excellence through its extensive industry expertise and its customized, high-quality service offerings This approach, coupled with a dedicated team of seasoned professionals, has helped the firm reach new heights and become a trusted partner in financial services

One of PAAST’s key differentiators is its intimate, hands-on approach to client service Unlike many larger firms, PAAST’s partners and senior management remain directly involved in client engagements, ensuring a higher level of care and personalized insight. This accessible, responsive service model is the foundation of PAAST’s client relationships, creating a sense of family within their client network PAAST views each client as an extension of their own team, committed to delivering value that goes beyond standard accounting services to include strategic guidance tailored to each client’s unique needs

“Working with financial institutions keeps us on our toes,” says Sueiro “If you think about what the past 25 years has brought to the financial services industry, it includes a list of issues that would never have been imagined in the early 1990’s When we started PAAST in 1999, the big thing was Y2K After 9/11, a big emphasis was made on BSA/AML issues By 2008, the Great Recession was severely affecting the banking industry, putting the sector in dangerous waters it had not seen in over 80 years By 2016, cybersecurity had become a commonly used term

Today we are seeing an increase in industry consolidation, the implementation of CECL, interest rate risk management issues, and an emphasis on model validations, just to name a few ” As Sueiro said, “What do Y2K, CECL, BSA, model validations, cybersecurity, and interest rate risk have in common with each other? Not much not much other than financial institutions It’s the one common ground ”

As another partner, Juan Aguerrebere, stated, “We need to constantly adapt as a firm if we want to service the financial services industry We are constantly attending training sessions and are members of various organizations, including FIBA, the Florida Bankers, ACAMS, the South Florida Banking Institute, the South Florida Compliance Association, the Association of International Bank Audit and Compliance Professionals (AIBACP), and ISACA, just to name a few ” Does this ever-changing environment cause a little stress sometimes? “A little bit, especially during the Great Recession Twenty-five years ago, I had a full head of hair Look at me now,” says Aguerrebere, jokingly

PAAST team members do more than just attend training sessions at these organizations, they give back to the financial institution industry by serving in them as well As noted by Michael Torres, one of the firm’s partners, “Ali is a board member at FIBA and the former president of the South Florida Compliance Association She followed Carlos after his board term at FIBA had ended Alex “Arod” Rodriguez and Alex Sueiro are both current board members and former presidents of the South Florida Banking Institute, and Raul Garcia is a board member at the AIBACP ”

Says Torres, “Several other team members, including Gretel Perez, Kirsha Brown, Marcos Alvarez, Jessica Rey, Naomi Cabrera, and Michael Jimenez have spoken on various panels on a variety of topics. I’m so proud to work with all of these amazing people ”

PAAST understands the challenges their clients face now and in the future, and can better provide them with solutions that will drive their business forward. The firm works with clients to evaluate their needs and find ways for them to improve and grow their business and personal financial strength It is through this collaboration that they have fostered long and mutually prosperous relationships that are built on confidence and trust PAAST strives every day to make sure they have great people and great clients

Accomplishments and Recognitions

FOCUS 305

With accolades underscoring its reputation, PAAST has been recognized for fourteen consecutive years as a Top 25 Accounting Firm by the South Florida Business Journal. The firm has also been acknowledged as a Top Litigation Support Accounting Firm, one of South Florida’s Fastest Growing Companies, and a top-ranking firm based on the number of CPAs PAAST’s impact in the community is further highlighted by numerous honors from local Chambers of Commerce, including recognition as a Top 100 Minority Business, as well as receiving the Rising Star Award and being named one of the Best Companies in South Florida Nationally, PAAST has been spotlighted by Accounting Today as one of the Best Accounting Firms to Work For, and by INSIDE Public Accounting as a Top 400 Firm Most recently, PAAST earned a place on Forbes' list of America’s Best Tax & Accounting Firms, solidifying its standing in the industry

PAAST and its team of professionals are active members of the Association of International Certified Public Accountants (AICPA), Private Companies Practice Section of the AICPA, the Florida Institute of Certified Public Accountants (FICPA), Cuban American Certified Public Accountants Association (CACPAA), PrimeGlobal, and Florida Bankers Association Members of PAAST’s management team also serve as board members for South Florida Banking Institute, the South Florida Compliance Association, Florida International Bankers Association (FIBA) and Association of International Bank Audit and Compliance Professionals (AIBACP) Their involvement in these organizations allows them to stay at the forefront of trends in the accounting and consulting industry

Community Involvement

PAAST recognizes the significance of giving back to the community and the individuals who have been instrumental in their journey Whether organizing toy drives, offering pro bono accounting and bookkeeping services, or raising tuition funds for students in need, their commitment to service remains strong The firm is proud to support a range of organizations that reflect their dedication to education, health, and social well-being.

Over the years, PAAST has also contributed to impactful groups like Amigos for Kids, the American Cancer Society, Boys and Girls Club of Miami-Dade, Camillus House, Centro Mater, and the FIU School of Accounting The firm has also supported schools such as Belen Jesuit Preparatory School, Christopher Columbus High School, St Brendan High School, and St Theresa Catholic School, along with organizations like the Cuban American CPA Association, Nicklaus Children’s Hospital, Miami Lighthouse for the Blind, and the United Way of MiamiDade Through these efforts, they aim to make a meaningful difference in the lives of individuals and communities that have played a role in the firm’s success.

•Bathing Assistance

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•Grocery Shopping

•Companionship

•Cleaning

•Laundry

Balance Is So Important Why Work-Life

By: Dr. Claudia Uribe

It sounds like you're reflecting on the challenge of balancing work with personal life, something many of us struggle with You're absolutely right that while work can be fulfilling and necessary, it shouldn't come at the expense of other parts of life that contribute to our overall well-being When work dominates our lives, it can leave us feeling drained and disconnected, not just from our families but from ourselves. As you mentioned, the emotional distance from loved ones and the constant pressure of never having "enough time" can make us feel ineffective, whether as a parent, partner, or even a friend

Mental health can suffer significantly when we're out of balance As you noted, the symptoms like fatigue, irritability, stress, and poor sleep are all connected to the strain of trying to do too much without proper breaks or boundaries. When we’re physically and mentally exhausted, it's hard to perform well at work or enjoy time with family and friends

The key is finding that balance creating boundaries at work, scheduling time for relaxation, and carving out space for the people and activities that nurture our happiness and health But that's often easier said than done! It can be a challenge to redefine our priorities and set boundaries, especially in a world that values productivity and hustle

Specifically, in the banking industry, particularly over the past decade, there has been an undergoing a shift driven by several key factors: changing consumer expectations, rapid digitalization, cost-saving initiatives, and the need for improved operational efficiency Let’s break down some of the key drivers of this transformation:

1. Decline of Physical Branches

The trend you mentioned about the reduction in branch footprints is part of a broader shift toward digital banking In the U S , a 20% shrinkage of bank branches reflects how banking habits have evolved Consumers now expect the convenience of managing their finances from anywhere, with mobile apps and online services

The decline in branch locations has forced banks to rethink their physical presence, with many focusing on a smaller number of flagship branches or converting some branches into advisory centers rather than fullservice retail locations

2. Evolving Consumer Expectations

Consumers today expect seamless, fast, and personalized banking experiences As with other industries, banking is moving toward a model of ondemand services, where users can easily access everything from transferring funds to applying for loans with just a few taps or clicks All of these changes have put a lot of pressure on Bank Managers, Bank Staff at all levels.

For bank staff and managers, the key to thriving in this evolving landscape is adaptability and ongoing learning. The competitive landscape, has become an added factor for productivity.

The increasing stress on bankers, driven by the demands of a rapidly changing industry, is a very real concern As technology, customer expectations, and regulatory pressures continue to evolve, the burden on banking professionals whether staff or managers has intensified. Unfortunately, this added stress has often come at the cost of work-life balance and time spent with family and loved ones

These are such great indicators of a healthy work-life balance! When we’re truly in balance, work doesn’t consume us, and we can fully engage with the other aspects of our lives without feeling constantly torn between the two.

Here's how each of those signs plays a key role in well-being:

No constant conflict between work and personal obligations: This is a big one. When you're able to manage both without feeling like they’re at odds, it shows that you’ve found a way to juggle your roles in a way that feels harmonious.

Meeting deadlines without overtime: This reflects both good time management and healthy boundaries You’re being efficient during your work hours, and there’s no need to sacrifice personal time to stay on top of tasks

Getting enough sleep and eating a balanced diet: These are essential foundations for good health When you’re able to rest properly and fuel your body with nutritious food, you’re in a much better position to handle work stress and enjoy life outside of work

Not feeling the "Sunday Anxiety": This shows that your work-life separation is strong enough that you're not constantly dreading the start of the workweek. When you're able to enjoy your weekends and recharge, it means you're managing work in a way that doesn’t overshadow your personal life.

IMPORTANT

Spending time with family and friends: Work shouldn’t consume all of your social and family life Healthy relationships with others provide emotional support, fun, and joy things that work alone can’t provide

Not worrying about your job when you're off: When you can mentally "leave work at work," it signals that you’re not carrying unnecessary stress home with you This is a critical sign of good boundary-setting and stress management

8. Using vacation and sick days: This indicates you're giving yourself permission to take breaks, which are vital for longterm productivity and mental health. It's a sign of prioritizing self-care without guilt.

10.

Feeling productive at work but not defining yourself by it: When you can achieve professional goals and still have space for your personal identity, you're truly in balance. Your work is part of who you are, but it doesn’t define you completely.

Utilizing work-life benefits: If your employer offers benefits like flexible scheduling, wellness programs, or childcare support, and you take advantage of them, it shows you're actively managing work-life integration and using resources to support your well-being

Less Time for Family and Personal Life

As bankers put in longer hours, particularly those in customer-facing or leadership roles, they may find it difficult to spend quality time with family or take time for themselves. Even if they manage to be home, the mental load of work such as worrying about performance, compliance, or complex customer issues can make it hard to be fully present.

Increased Burnout and Mental Health Issues

Chronic stress, especially without sufficient time for relaxation, can lead to burnout. This can manifest as fatigue, irritability, difficulty concentrating, and physical health problems (like headaches, sleep disturbances, or gastrointestinal issues) Mental health concerns such as anxiety or depression may also arise from the constant pressure to perform without adequate recovery time.

Difficulty Disconnecting from Work

For many bankers, the inability to "switch off" from work is a major challenge. With digital tools and mobile banking apps, it’s easy to remain connected to work even when physically off-duty Managers, especially, may feel compelled to respond to emails or check on team performance outside of office hours, leading to burnout.

Balancing a high-stress banking life requires a combination of practical strategies for managing workload and stress, as well as intentional efforts to maintain personal well-being. It’s about creating a sustainable rhythm between the demands of work and the need for personal time, rest, and recovery, which are a reflection of the key factors outlined on finding a balance!

THE IMPACT OF THE NEW TRUMP PRESIDENCY ON THE BANKING INDUSTRY: KEY CHANGES AND IMPLICATIONS

Changes in the political landscape significantly influence the banking industry and the incoming administration is no exception Whether one aligns with Republican or Democratic ideals, it is clear that a shift in the administration brings about notable changes to financial policies and regulatory approaches With one completed Trump administration as a reference, we have a clear understanding on how these policies are likely to unfold

Traditionally Republican-led administrations favor deregulation which often aligns well with the banking industry With a Republican President and a Republicancontrolled Congress the administration would likely push for policies that reshape the regulatory framework which will be welcomed by bankers

StockMarketSurge

The stock market's response to Trump's election night victory fueled rising expectations for a bankingfriendly administration Bank stocks experienced significant surges following the announcement of Trump's second presidential term This optimism stems from the widely held view that a Republican-led government prioritizes reducing regulatory burdens potentially fostering a more favorable operating environment for financial institutions

Deregulation and Its Impacts

Deregulation remains a cornerstone of Republican financial policy, and the new administration would likely continue this trend The administration s focus on easing regulatory requirements is expected to have the most significant impact on larger U S banks, which could benefit from reduced compliance costs and operational constraints Deregulation also encourages consolidation in the sector, as regulatory rollbacks often make mergers and acquisitions more attractive and financially viable

Smaller banks, particularly community banks with less than $10 billion in total assets, are also poised to see increased consolidation By easing the regulatory burdens that disproportionately affect smaller institutions, the Trump administration could encourage these banks to join forces creating larger entities better equipped to compete in the evolving financial landscape

BaselIII

Another key issue for the banking industry under the new administration involves Basel III the international framework for bank capital standards stress testing, and liquidity requirements The proposed Basel III framework aims to enhance the stability of the global financial system by enforcing stricter compliance standards However these requirements are often viewed as excessively burdensome, especially for smaller banks The new administration is expected to delay or revise these proposed changes prioritizing the reduction of compliance costs over stringent regulatory enforcement Specific rollbacks in bank capital and liquidity requirements are likely, which would be welcomed by bankers seeking more flexibility in their operations This approach could spur growth and innovation in the sector but may raise concerns about the long-term resilience of the financial system in times of economic stress

ConsumerFinancialProtectionBureau (CFPB)

The Consumer Financial Protection Bureau (CFPB) established under the Dodd-Frank Act has been a contentious entity for the banking industry Tasked with enforcing rules related to credit card fees, mortgages and consumer loans the CFPB has often been accused of overreach by its critics The Trump administration s previous tenure saw efforts to limit the bureau s enforcement powers and a second term is expected to amplify those efforts

Bankers and financial institutions have long opposed the CFPB’s stringent regulatory approach, which they argue hampers innovation and imposes unnecessary costs High-profile figures like Elon Musk, newly appointed co-chair of the Department of Government Efficiency (DOGE) have even called for the outright abolition of the CFPB If realized, such a move could lead to sweeping changes across the financial services sector affecting not only traditional banks but also mortgage providers and payday lenders

PotentialBacklash

The new administration s deregulatory agenda may create short-term gains for the banking industry by reducing operational costs and fostering innovation However these changes are not without risks Critics warn that excessive deregulation could lead to vulnerabilities in the financial system, increasing the likelihood of economic instability during periods of stress

Moreover the rollback of consumer protections may spark public backlash as diminished oversight could result in predatory practices by financial institutions Balancing the need for a dynamic and competitive banking sector with the imperative to protect consumers and maintain systemic stability will be a critical challenge for any administration pursuing deregulatory policies

Conclusion

The Trump administration s impact on the banking industry highlights the delicate interplay between regulation and market efficiency Deregulation and efforts to curtail enforcement actions are likely to be at the forefront of a second term's agenda As the banking industry navigates these potential changes, it must remain vigilant in balancing growth with responsibility Whether this balance can be achieved under a Trump administration remains an open question but the implications will undoubtedly ripple across the economy for years to come

Contributor to the Florida Banking Forum and President of Metro Fund Inc. in Miami, Florida, a leading private capital provider in South Florida. Mr. Diaz also serves as the President of the Florida Association of Mortgage Professionals.

WRITTEN BY

Orlando Diaz

CafecitoCon Yesenia

Building relationships one cafecito at a time @cafecitoconyesenia

Cafecito Con Yesenia Presents Steven Trujillo

Senior Vice President,

International Preferred Banker

International Finance Bank

Our leadership team had the pleasure of visiting one of our valued clients in New York City, and it was an experience that exceeded all expectations. During this trip, we had the opportunity to reconnect with Steven Trujillo, Senior Vice President at International Finance Bank (IFB), and learn more about the incredible developments happening with both him and his team in New York

Steven has been with IFB since 2015, starting as a Junior Preferred Banker and quickly rising through the ranks due to his exceptional leadership and commitment. His journey at IFB has been nothing short of impressive After managing a diverse portfolio of high-net-worth individuals and select institutions across the U.S., Latin America, and Europe, Steven was promoted to VP and Team Leader of International Preferred Banking in 2017 Under his guidance, he successfully managed a team of four experienced bankers, further showcasing his leadership abilities

In 2022, Steven took a bold step by relocating to New York City, where he helped manage IFB's NY Banking Center Today, Steven has been promoted to Senior Vice President and oversees the New York office, managing a team of seven talented individuals His professional journey reflects not only his hard work and dedication but also his passion for building strong teams and delivering exceptional results

Our visit was capped off with a lovely lunch at Osteria Delbianco, a local favorite. Over a Cafecito con Yesenia, we celebrated not just the success we have achieved together but also the strong partnership between our companies This was a moment to reflect on the milestones we've reached and to look forward to the future opportunities that lie ahead

Steven's commitment to excellence extends beyond his professional role He actively engages in activities outside the bank, serving as a mentor and “Big” for Big Brothers Big Sisters. His leadership also extends to the Board of Directors for the Colombian American Chamber of Commerce and the Early Education Impact Council for United Way of Miami-Dade These roles reflect his dedication to the community and his desire to make a positive impact both inside and outside of the financial world.

Reflecting on our visit, it’s clear that Steven Trujillo is not only a dedicated banker and team leader but also a mentor and community leader. His journey from Junior Preferred Banker to Senior Vice President at IFB is an inspiring story of professional growth, leadership, and success We look forward to continuing our partnership and witnessing the continued success of Steven, Elisa, and the entire team at IFB in New York

Cafecito in the Big Apple

When it comes to your financial aspirations, there are no boundaries at PNB. We believe in your potential and helping you reach new heights. Our comprehensive range of banking solutions, personalized service, and cutting-edge technology is built from the ground up to help you reach your financial goals. Whether you ’ re starting a new business, expanding your portfolio, or realizing your dreams, PNB is here to provide the support and guidance you need Elevate your financial journey with a bank that understands your ambitions and is dedicated to building your success Break boundaries, block by block, with PNB as your trusted partner

Empowering Futures:

professionals, pre-career students, and the broader community with essential skills and knowledge

Founded as the educational arm of the American Bankers Association, CFT is based at Miami Dade College and is committed to promoting financial services education, workforce development, and financial management. The organization places a significant emphasis on financial literacy, particularly among minority students from low to moderate-income backgrounds By doing so, CFT aims to bridge the gap in access to financial education and resources, enabling these students to explore the vast opportunities within the banking and financial services industry

Connie's journey with CFT began in March 1982, and over the decades, she has become a prominent figure in the Miami community and beyond Her influence extends to various boards and committees that shape the landscape of financial education and workforce development She serves as an Executive Board Member of the Miami-Dade County Public Schools' Academy of Finance Board, contributes to The Beacon Council's Banking and Finance Committee, and holds a position on the Executive Committee of the CFT national board

CFT INTERNATIONAL

Connie

Laguna President & CEO of the Center for Financial Training

In addition, Connie is actively involved with the South Florida Hispanic Chamber of Commerce and the Women Society Board, demonstrating her commitment to fostering diversity and inclusion in the financial sector Her participation in the Greater Miami Chamber of Commerce's Banking & Finance Committee and the Florida Bankers Association further highlights her dedication to advancing financial education and advocacy

Connie is not just a leader; she is a mentor and coach who passionately speaks about the importance of financial awareness in schools and communities She strives to help students uncover their individual, professional, and business potential, guiding them towards successful careers in financial services Through her outreach initiatives, she has conducted extensive research and developed programs aimed at workforce development, financial health, and early college opportunities for youth

Having lived in Miami for 59 years, Connie has a deep-rooted connection to the community Her extensive involvement in various community development and professional groups, both domestically and internationally, underscores her commitment to making a positive impact through financial education. Connie's work is not just about numbers and balance sheets; it’s about empowering individuals and communities to achieve financial stability and success

Connie Laguna's leadership at the Center for Financial Training, International, exemplifies a profound commitment to enhancing financial education and workforce development Through her dedication and tireless efforts, she is shaping the future of countless individuals, particularly those from underrepresented backgrounds, and paving the way for a more financially literate society.

FBF

This past November, Amigos For Kids once again hosted its highly anticipated annual signature event, Amigos Night, bringing together Miami’s most vibrant community of supporters for a dazzling evening of connection, celebration, and charity Formerly known as the Miami Celebrity Domino Night, Amigos Night has become a must-attend event, blending the glamour of Miami’s social scene with heartfelt support for an incredible cause

Held at The Hangar at Regatta Harbor, a picturesque seaside venue in Coconut Grove, the event delivered an unforgettable experience Guests enjoyed the perfect mix of Miami’s lively indoor and outdoor culture, with stunning waterfront views and breezy vibes setting the stage for an evening filled with energy, entertainment, and unity

This year ’ s Amigos Night was nothing short of extraordinary. Attendees enjoyed live music from local bands, a Bacardi open bar featuring craft cocktails, and a diverse array of curated bites from some of Miami’s favorite restaurants and hidden gems The games of domino, central to the event’s theme, were as spirited as ever, evoking the lively charm of Calle Ocho and sparking friendly competition among players

The event wasn’t just about fun and games it was also a celebration of the mission behind Amigos For Kids Dedicated to preventing child abuse and neglect, the organization uses Amigos Night as a platform to raise awareness and funds for its impactful programs and services Thanks to the enthusiastic participation of Miami’s celebrities, corporate leaders, media personalities, and community members, this year ’ s event set new records for both attendance and contributions.

Jorge A Plasencia, Co-Founder & Chairman Emeritus, Karina Pavone President & CEO,

y p pp g another From the vibrant music to the mouthwatering food and lively conversations, every aspect of the event reflected the heart and soul of Miami

As the last domino fell and the evening came to a close, it was clear that Amigos Night 2024 had left a lasting impression on all who attended The excitement, camaraderie, and shared purpose of the night served as a testament to the strength of Amigos For Kids and its incredible impact on our community.

Here’s to another unforgettable year, and to the continued success of Amigos For Kids as they work

Ha i Harnessing

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In recent (fintech) reshaping services. have operated customers, and significant community improve community banks can benefit from the impact of fintech.

One of the community experience. convenience and efficiency in their financial transactions. Fintech solutions, such as mobile banking apps, online loan applications, and digital payment systems, help community banks meet these expectations. By adopting these technologies, community banks can provide seamless, user-friendly services that rival those of larger institutions.

For instance, community banks can implement mobile banking platforms that allow customers to easily manage their accounts, deposit checks, and make transfers from their smartphones. This not only improves customer satisfaction but also attracts a younger demographic that prioritizes digital engagement. Additionally, offering personalized services powered by data analytics can help community banks tailor their offerings to meet the specific needs of their customers, fostering loyalty and deeper relationships.

Fintech can significantly improve the operational efficiency of community banks. Many fintech solutions automate routine tasks, such as compliance checks, loan underwriting, and customer service inquiries. By automating these processes, community banks can reduce the time and resources spent on manual tasks, allowing staff to focus on higher-value activities such as building customer relationships and developing new products.

For example, robotic process automation (RPA) can streamline back-office operations, enabling faster processing of transactions and reducing errors. Cloudbased solutions can also enhance collaboration and data sharing among employees, further improving efficiency. By leveraging these technologies, community banks can operate more effectively and compete with larger banks that have more resources.

Operational Efficiency

Access to new markets

Fintech can also help community banks expand their reach and access new markets. Traditional banking models often limit community banks to their local areas, but fintech enables them to tap into broader markets. For instance, online lending platforms allow community banks to offer loans to customers outside their immediate geographical area, increasing their potential customer base.

Additionally, fintech partnerships can provide community banks with access to advanced technologies and innovative products without the need for substantial investment in infrastructure. Collaborating with fintech startups or established companies can help community banks quickly adopt new tools and services that can enhance their competitive position.

Risk Management and Compliance

Navigating regulatory compliance and risk management is a significant challenge for community banks. Fintech solutions can assist in these areas by providing advanced analytics and monitoring tools. For example, artificial intelligence (AI) and machine learning can be utilized to detect fraudulent activity, assess credit risk, and ensure compliance with regulations.

By implementing these technologies, community banks can enhance their risk management strategies, making them more resilient to potential financial threats. Additionally, fintech tools can help streamline compliance processes, reducing the burden on staff and allowing community banks to focus on growth and customer service.

Another crucial benefit of fintech for community banks is the potential to promote financial inclusion. Many underserved communities lack access to traditional banking services. Through fintech, community banks can offer innovative solutions tailored to these populations, such as microloans, mobile payment solutions, and financial literacy programs.

By addressing the needs of underserved customers, community banks can strengthen their community ties and foster economic development. This not only benefits the bank but also contributes to the overall health of the local economy, creating a virtuous cycle of growth and stability.

The impact of fintech on community banks is profound and multifaceted. By embracing fintech solutions, community banks can enhance customer experience, improve operational efficiency, access new markets, strengthen risk management, and promote financial inclusion. While the transition to a fintech-driven approach may require investment and change, the potential rewards are significant. Community banks that capitalize on the opportunities presented by fintech are not only positioned to thrive in a competitive landscape but also to play a vital role in supporting their communities' financial well-being. As the financial sector continues to evolve, community banks must adapt and innovate to remain relevant and impactful in the lives of their customers.

By: Norman Isaza

Financial Inclusion

Associates

you peace, joy, and success this holiday season.

From all of us at New Edge Associates, thank you for being a part of our family. We’re truly grateful for your trust and partnership. Happy Holidays, and here’s to a wonderful holiday season and an exciting year ahead!