FBF Magazine Issue #4

JANUARY / FEBRUARY 2025 ISSUE 04

FLORIDA BANKING FORUM

FOCUS 305 BARLOP BUSINESS SYSTEMS

FEATURED SPEAKERS ALEX SANCHEZ

SALVA FINANCIAL GROUP OF FLORIDA FOUNDER, PRESIDENT AND CEO EXECUTIVE ADVISOR NASDAQ

SPOTLIGHT

M2 COMMUNICATIONS

CAFECITO CON YESENIA WITH

JUAN ESTERRIPA

JUAN DEL BUSTO

CHAIRMAN AND CEO DEL BUSTO CAPITAL PARTNERS

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SPONSORED BY

TABLE OF CONTENTS

01

FBF magazine

Table of Contents

1

Our Team

2

A Letter From Our President

3

FBF Lunch with Alex Sanchez

4

A Celebration of Life, Mark Trowbridge

7

At the Forum

8

Industry Leaders

12

Why You Need a Specialty Banking Recruiter

14

Team New Edge Associates Networking Involvement

18

FBF Lunch with Juan Del Busto

20

Letter From Editor-in-Chief

22

03

02

Focus 305 - Barlop Business Systems

24

Is Competition in Banking Healthy

28

The White House’s Proposed Changes to

32

Financial Regulators

Cafecito Con Yesenia Presents: Juan Esterripa

34

Monthly Spotlight - M2 Communications

36

FBF Community Impact: Be Strong International

40

Understanding Tariffs and Their Impact on the

42

04

Banking Industry

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FBF

magazine

NOVEMBER / DECEMBER 2024 ISSUE 03

PUBLISHER

OUR CONTRIBUTORS

NORMAN ISAZA

ORLANDO A. DIAZ

EDITOR - IN - CHIEF CARLOS JARA

CONTENT DIRECTOR

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

President of the Florida Association of Mortgage Professionals

YESENIA MORENO DR. CLAUDIA URIBE MANAGING EDITOR LORAINE TEJADA

EVENT DIRECTOR NICOLE ISAZA

Director @ Miami-Dade County Fair | Mental Health Therapist | Professor at University of Miami LISSETTE REYES Contributing Writer

CONTRIBUTING WRITERS MELANIE ISAZA

DIGITAL CONTENT COORDINATORS

ORLANDO DIAZ

CAROLINA IGLESIAS

NORMAN ISAZA

JORDAN KETTINGER

PHOTOGRAPHER

MICHAEL GIRON

EDUARDO MENDEZ

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Letter from our President & CEO I wanted to take a moment to reflect on the tremendous power of networking and the value it brings to both personal and professional growth.

In today’s fast-paced world, the importance of building strong connections with our peers cannot be overstated. Networking is not just about exchanging business cards or adding contacts on LinkedIn; it’s about fostering relationships that can lead to collaboration, innovation, and mutual support. Engaging with fellow professionals allows us to share insights, discuss challenges, and celebrate successes, creating a sense of community that can be incredibly empowering.

Through networking, we gain access to a wealth of knowledge and diverse perspectives. Each conversation can spark new ideas or solutions that we might not have considered on our own. For instance, attending industry conferences or local meetups often results in discovering best practices or emerging trends that can enhance our work. Additionally, these interactions can open doors to mentorship opportunities, where experienced peers can guide us through our career paths.

Moreover, networking can lead to unexpected collaborations.

Many successful projects arise from the synergy of different skills and expertise. By connecting with others, we can identify opportunities for partnership that might not have been apparent initially. These collaborations can not only enhance our work but also expand our professional reach and influence.

In our rapidly evolving industry, staying connected with our peers is essential for staying relevant. Networking enables us to keep our fingers on the pulse of changes and advancements, ensuring that we remain adaptable and informed. It also allows us to contribute to the growth of our field by sharing our own knowledge and experiences.

I encourage you to actively seek out opportunities to connect with others in our industry. Whether it’s through formal events, online forums, or casual meetups, every interaction holds the potential for growth. Remember, the relationships we build today can pave the way for our successes tomorrow.

Yesenia Moreno

Thank you for considering the importance of networking in your professional journey. I look forward to continuing our conversation about how we can support each other and our industry as a whole.

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FBF

THE PERFECT PLACE TO EXCHANGE IDEAS

Alex Sanchez “Talk to anyone and everyone.

Never, ever take anyone for granted. You never know who you're talking to.”

FBF: Can you share a moment from your early career that it feels significantly shape your professional?

I’ll never forget that year. I had just graduated from law school in Iowa and moved back to Miami to begin practicing law. I come from a family where my father worked at Pan American Hospital, and my mother worked at Fairlawn Elementary, baking cookies and working in a daycare in the afternoons. I didn’t come from a family with connections or experience in the corporate world, so entering this field was uncharted territory for me.

Why does this matter to me? Because it taught me an invaluable lesson, one I hope you take away for your own children and anyone you know: you need to develop thick skin. I remember parking my car underneath the overpasses in downtown Miami with a hard plastic briefcase, carrying 70 copies of my resume. I would go from office to office, law firm to law firm, dropping off my resume, wearing the one suit I owned. The reception I received was often cold, and I faced a lot of rejection. But you have to keep going. Back in those days, not everyone got a trophy, and that was a reality I had to face. Those rejections only motivated me more.

Beyond the guidance of my parents and my faith in God, the values I developed during that period, the resilience, the drive to keep pushing forward despite the setbacks shaped who I am today.

That experience taught me to be confident in advocating for myself, not to shy away from tough situations, and to believe in myself, even in the most challenging moments.

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FBF: How do you see the role of traditional banking evolving with the rise of the Fintech?

The landscape of banking is undoubtedly evolving, and it’s keeping us on our toes. I travel across the country to meet with bankers—recently, I was in Florida with Nasdaq.

Currently, Patty and I are on our way to Phoenix to have lunch with a bank CEO, and then we’ll head to Salt Lake City to meet with our friends at Zion Bank on Thursday and Friday. Technology is driving much of this change, and it's something we’re closely monitoring.

That being said, there is a critical need for more community banks in our nation. Unfortunately, in states like Florida, many of our local banks receive lucrative offers and end up being acquired. But, this trend highlights an important issue: we need more community banks.

Why? Because over 50% of small business loans come from community and small regional banks. This is significant because 60% of Americans are employed by small businesses, not large corporations like AT&T or Boeing.

While large corporations certainly play a vital role— especially in places like Miami—they aren’t the primary source of employment for most Americans. It’s the local community banks, like First Bank Florida and others, that are the true backbone for small businesses and entrepreneurs.

Additionally, nearly 90% of agricultural loans come from community banks. These institutions are crucial for sustaining our nation’s economy at the grassroots level.

Now, don’t get me wrong, big banks have their place. We absolutely need large banks to support major companies, like Boeing, Delta, or Ford. If companies of that scale had to rely on foreign banks, such as the Bank of China, for credit, our country would be in serious trouble.

So, while large banks are essential, community banks are equally important. We need a balanced approach to ensure that both segments of the banking sector continue to thrive and support the diverse needs of our economy.

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Alex Sanchez made history as the first Hispanic to serve as President and CEO of the FBA, an association that dates back to 1888.

FBF: What's the most unconventional piece of leadership advice that you've ever received?

FBF: Give us your opinion about the state of the economy and the markets?

The most unconventional piece of leadership advice I’ve ever received is simple: Talk to anyone and everyone. Never, ever take anyone for granted. You never know who you’re speaking with or how they might impact your future. I’ll never forget a moment from high school. My basketball coach at Miami High lined us up one day and said, “I need a volunteer to help a friend of mine whose brother just passed away. Anyone who wants to volunteer?” Without hesitation, I raised my hand.

Looking back, that was one of the most significant decisions I made at the age of 17. That gentleman, who I later learned was Judge Harold Fann from the Circuit Court of Bay County, picked me up at my parents’ house in a U-Haul truck. We drove to his brother’s apartment in Fort Lauderdale. His brother, a World War II hero with dementia, lived on the first floor, and we had to crawl through the window to reach his bedroom, which was blocked by clutter. We spent the day clearing out the apartment and taking everything to the incinerator. Two days later, Judge Fann handed me his card and told me to stay in touch. I had no idea that, eight years later, he would be the one to help me secure my first job in law. At the time, I never expected that I’d go on to become a lawyer, let alone that I’d need his help down the road—but I never took him for granted. He appreciated the help I gave him, and when the time came, he called a law firm and said, “I’m sending my friend, Alex Sanchez. He’s going to start working there.” I questioned him, “Are you sure? Haven’t you even asked them if there’s a position for me?” He replied, “No, just go down there.”

I remember walking into the firm, and it felt like something out of the movie The Firm with Tom Cruise. When I stepped off the elevator, all the partners were there waiting for me.

They looked at me and said, “Are you Alex Sanchez?” I said, “Yes, sir.” They replied, “We’ve been waiting for you.” Judge Fann had no idea that when I was 17 at Miami High, I would go on to need his help. But because I never took him for granted, he played a key role in launching my career. This experience taught me an invaluable lesson: Always treat people with respect, as you never know where they might lead you in the future.

Looking ahead, I am optimistic about the U.S. economy in 2025. While we shouldn’t take anything for granted, I believe it will be a great year. I’m encouraged by the fact that interest rates are starting to come down and inflation is being brought under control. Additionally, I’m pleased with the decisions made in November, which will allow our banks to do what they do best—provide the capital that drives the economy.

That said, it’s important that our banks are appropriately regulated. However, regulation should not become an overly burdensome environment. I’ve never advocated for a completely deregulated system, even during my 30 years at the FDA. But it’s crucial that we avoid having an overbearing Consumer Financial Protection Bureau (CFPB) that imposes rule after rule on our banks. As someone who serves on two bank boards, I can attest to the incredible compliance costs our banks face. Running a business is challenging enough without having to constantly navigate complex regulatory requirements. Take a company like Publix, for example— they’re in the business of selling food, not compliance. If you asked Publix how much time they spend on compliance, the answer wouldn’t be 60-70% of their time. Instead, their focus is on how to sell food to their customers. Banks should be focused on enhancing the economic vitality of their communities, not bogged down by excessive compliance measures. At the end of the day, most of us in business started out with that first loan from a community bank, and we’ve been fortunate because of it. So, yes, I am bullish on the economy for 2025, as long as we strike the right balance in regulation and allow our banks to thrive.

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“Why we need more community banks in this country. Over 50% small business loans come from our community and our small regional banks. Now why is that important? Because 60% of Americans work in small business.”

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As an independently owned firm, we are driven by our clients, not corporate agendas.

We pride ourselves on being responsive, connected, and efficient insurance experts.

DOUGLAS SAWYER | Risk Advisor | Strategic Relationships PHONE: (305) 301-1362 | EMAIL:

Douglas.Sawyer@centuryra.com | VISIT: centuryra.com

A Celebration of life!!

Mark Trowbridge

Finding the right words is never easy when we lose someone truly exceptional. Mark Trowbridge, CEO and President of the Coral Gables Chamber of Commerce, was one of those rare individuals whose humor, talent, and passion left an indelible mark on all who had the privilege of knowing him. For 18 years, Mark dedicated himself to the Coral Gables business community, earning the affectionate title of "Mister Coral Gables." As a visionary leader and tireless advocate, his influence on The City Beautiful is immeasurable.

Since becoming Chamber members in 2021, we experienced firsthand Mark’s welcoming and supportive nature. The City Beautiful and our team will profoundly miss the remarkable leader and individual he was. Our heartfelt condolences go out to his friends and family.

Mark’s quick wit, infectious presence, and unforgettable laughter were the essence of every gathering he attended.

His passion for our community and steadfast commitment to uplifting others will be deeply missed. Mark was a cherished pillar in countless lives, ensuring that everyone felt seen, valued, and encouraged. While his absence will be acutely felt, the spirit he embodied—marked by joy, generosity, and fierce support for others—will endure in all of us who had the honor of knowing him. We are eternally grateful.

Thank you, Mark, for your unwavering support, genuine kindness, and inspiring dedication to the community.

We are all better for having known you.

Your legacy is unbreakable, and your light will continue to shine in the hearts you touched. You will be missed beyond measure.

TEAM NEW EDGE ASSOCIATES ISSUE 4

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Florida Banking Forum

At the

forum

Each month, we bring together financial leaders, industry experts, and visionaries to navigate the evolving landscape of banking in the Sunshine State.

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08/27/2024

More than a meeting, “The Forum” offers the chance to engage, exchange ideas, and impact the future of local and regional banking.

At the Florida Banking Forum, we focus on the here and now. These moments leave a profound mark, influencing both our memories and the careers that unite us.

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08/27/2024

Each experience drives our progress, cultivating a culture of collaboration, creativity, and mutual success, where every moment plays a key role in advancing both our personal and career development.

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FBF INDUSTRY LEADERS

ERBI BLANCO-TRUE

DOUGLAS B. SAWYER

CLAUDIA A. CANCIO

Community Relations Director at Banesco Bank

Commercial & Private Client Advisor at Century Risk Advisors

Senior Vice President and Regional Banking Manager at United Community Bank

Erbi Blanco-True is a banking professional and community leader with over 35 years’ experience in financial services. She currently serves as the Community Relations Director at Banesco USA, specializing in the areas of CRA compliance, affordable housing/neighborhood revitalization, community development, volunteerism, and non-profit outreach.

Previously she served as the Florida Community Development Manager for First Horizon Bank and prior to this, Erbi served as Senior Vice President, Director of CRA/Community Development at Great Florida Bank.

Doug Sawyer is a seasoned financial professional with extensive experience in banking, insurance, and risk management. He has held executive leadership positions at top South Florida financial institutions, overseeing areas like commercial lending and wealth management.

Doug helps businesses and highnet-worth individuals manage risks and develop tailored insurance solutions. He specializes in a wide range of exposures, including operational, financial, and employeerelated risks. Doug helps businesses and high-net-worth individuals manage risks and develop tailored insurance solutions. He specializes in a wide range of exposures, including operational, financial, and employeerelated risks.

She oversees the retail branches of the bank in the South Florida and Miami markets. Her banking career began in 1989. In 1991 she earned her bachelor’s degree from Florida International University in Business Administration with a Double Major in Finance and International Business. She served on the board of ChamberSOUTH for over 14 years and was the chairwoman from 2014-2016.

She has served on the Board of Directors of South Florida Banking Institute since 2018 and is currently the President of the organization.

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Let’s Start Banking Forward Together.

Our years of experience working with local companies and customers gives us a keen insight into Polk county’s unique and ever-changing market. Our full range of innovative solutions and personalized service allows us to better serve your banking needs, so you and your business can continue to grow. Come see how our team of Polk-based experts can help you find the solutions you need.

This is banking at its best. This is Banking Forward.

2 Alhambra Plaza, Suite 100 Coral Gables, FL 305.245.2211 SouthStateBank.com•Member FDIC

WHY YOU NEED A SPECIALTY BANKING RECRUITER (LIKE YOU NEED A GOOD ATTORNEY!) HIRING IN BANKING IS NO JOKE As I like to say, “Hiring the wrong person in banking is like handing your house keys to a raccoon—you’ll regret it when they start tearing things up.”

Banking isn’t just another industry—it’s one of the most heavily regulated fields. A single hiring mistake can lead to compliance violations, lawsuits, financial penalties, and, worst of all, reputational damage. And in banking, reputation is everything.

For community banks, the stakes are even higher.

Trust and relationships are the backbone of success, and the wrong hire can shake customer confidence, weaken internal teams, and expose your institution to unnecessary risk.

THE HIGH STAKES OF BANKING COMPLIANCE & RISK MANAGEMENT If you think hiring is just about filling an empty chair, think again. Every person you bring on board has the potential to either protect or jeopardize your institution. The ever-changing regulatory landscape —Dodd-Frank, Anti-Money Laundering (AML), Know Your Customer (KYC), and more—means that hiring compliance-savvy professionals isn’t optional; it’s essential.

A bad hire in banking can result in: Regulatory violations leading to costly fines, legal battles, or increased scrutiny from auditors.

Reputational damage that erodes customer trust and investor confidence.

Financial loss from fraud, operational inefficiencies, or high turnover costs.

For community banks with leaner HR teams and more localized hiring networks, these risks are even greater. Unlike large institutions with dedicated compliance hiring specialists, smaller banks often struggle to find talent with the right balance of cultural fit and regulatory expertise.

WHY YOU NEED A SPECIALTY BANKING RECRUITER (LIKE YOU NEED A GOOD ATTORNEY) Let’s be real: Would you handle a lawsuit without an attorney? Then why would you risk hiring without a banking recruiter?

A strong specialty banking recruiter does more than just send résumés—they reduce hiring risk by ensuring you get the right talent the first time.

Here’s how they add value: Industry Expertise – They understand bankingspecific hiring challenges and compliance needs.

Vetted, Compliance-Savvy Candidates – They provide pre-screened professionals who already understand regulatory expectations.

Speed & Efficiency – They move quickly to fill crucial roles without compromising quality.

Reduced Hiring Risk – Many recruiters offer guarantees on placements, meaning if a candidate isn’t the right fit, they’ll find a replacement.

More Time for What Matters – You get to focus on running your business, strengthening your brand, and driving strategic initiatives while your recruiter handles the hiring process.

✔ ✔ ✔ ✔ ✔

Think of it this way: A bad hire in banking is like an unqualified attorney representing you in court— sooner or later, it’s going to cost you.

✅ ✅ ✅

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EVEN HAPPY BANKERS SHOULD KEEP THEIR DOORS OPEN I always say… Keep your doors open—especially when you LOVE your job.

Most people don’t think about their next career move until they need to—but the best time to explore opportunities is when you’re already employed. The reality is, the smartest banking professionals and executives are always open to hearing about what’s out there—not because they’re actively looking, but because they understand that the best career moves come from being aware, informed, and ready when the right opportunity arises.

Working with a specialty banking recruiter isn’t just for hiring managers—it’s for banking professionals who want to stay ahead of the market. Here’s why: You stay informed – Market trends shift. A recruiter keeps you updated on industry changes, salary benchmarks, and emerging leadership opportunities.

You build connections – The best opportunities often aren’t publicly posted. Having a recruiter in your corner means access to high-level, exclusive roles.

You control your next move – If your dream job comes along, you’ll know about it first—before you need a new job.

🔹 🔹 🔹

BOTTOM LINE: BUILD THAT RELATIONSHIP BEFORE YOU NEED IT The best banking executives and professionals don’t just react to opportunities—they position themselves for them.

Proactive leaders partner with recruiters to keep an eye on market shifts and career-defining roles.

A strong specialty recruiter is an asset, whether you’re hiring or simply keeping yourself open to the next big move.

Hiring without a recruiter is a gamble. But staying disconnected from recruiters as a candidate? That’s a missed opportunity.

So, just like you have an attorney on speed dial, make sure you’ve got a trusted banking recruiter in your network—you’ll thank yourself later.

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LISSETTE REYES CONTRIBUTING WRITER

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With FirstBank, Ms. Carter’s everyday banking comes first.

At FirstBank, we know banking, but we also know the best banking solution is one that fits your lifestyle. We get to know you and your financial goals first—and meet you where you are.

Stop by your nearest branch

Call 305.577.6000

Visit 1firstbank.com/fl

Carter Make it your own.

Brickell | Coral Gables | Deerfield | Doral | Hialeah | Kendall | Pembroke Pines | Westchester Member FDIC. All products and services are available only in Florida and subject to Terms and Conditions that can be found in the account disclosure document provided at the opening of the account. Certain restrictions apply.

Team New Edge Associates

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Networking Involvement

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FBF

THE PERFECT PLACE TO EXCHANGE IDEAS

Juan Del Busto CHAIRMAN AND CEO DEL BUSTO CAPITAL PARTNERS

“Experience is the compass of longevity, guiding us through the lessons of life.”

In his previous role, he managed the branch’s operations, contributed regional insights to monetary policy, led community outreach, and oversaw economic education programs in Miami.

At the recent Florida Banking Forum luncheon, we had the honor of hosting Juan Del Busto as our distinguished guest speaker. Our enlightening fireside chat explored Juan's impressive background and captivating journey, showcasing him as a visionary entrepreneur who treats everyone with respect.

Since joining the Board of Directors of Ocean Bank in 2013, Juan has also served as a member of the Advisory Board for Easy Solutions, a Total Fraud Protection Company, and as a Strategic Advisor for the accounting firm MBAF.

Del Busto is the former regional executive of the Miami Branch of the Federal Reserve Bank of Atlanta and is currently the chairman and CEO of Del Busto Capital Partners, Inc.

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His insights into both the regulatory landscape and South Florida’s economy are invaluable, and Ocean Bank’s president, A. Alfonso Macedo, expressed excitement about the unique perspectives Juan brings to the bank.

In Juan's own words, “Ocean Bank is an excellent choice for me; it’s not only a great financial institution but also deeply committed to community initiatives that I care about, such as the United Way and education.”

Committed to community service, Juan is a trustee for United Way of Dade County and believes that a well-educated workforce is essential for improving the nation’s economy. He serves on several boards, including the Florida Council of Economic Education and the Miami Dade College Business School Advisory Committee, and holds prominent roles in various educational committees.

Born in Havana, Juan moved to Miami in 1960 and graduated from Miami Dade College before earning a Bachelor of Science degree from Florida International University. He also completed an executive development program at The Ohio State University.

Juan Del Busto’s impressive career and community involvement make him a respected figure in the banking industry and a valuable asset to the industry.

Juan, your insights into the economy and life were invaluable. We deeply appreciate your friendship and the time you shared with our guests, which truly enriched our event. Thank you for being a source of inspiration and wisdom.

A passionate rum collector, Juan started his journey into cane spirits at a young age, influenced by his father and cousin. His extensive collection includes over 300 different rums, featuring rare finds from Cuba, the Philippines, and India, reflecting his love for discovering unique spirits.

Juan’s extensive career at the Federal Reserve began in 1973, where he progressed from Computer Operator to Regional Executive before retiring in 2012.

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from the publisher Today, I want to discuss an idea that could transform our personal lives, workplaces, and communities: The power of a positive mindset. In a world often focused on challenges, embracing positivity can significantly impact our mental and physical health, productivity, and overall well-being. A positive mindset enables us to approach problems with resilience and creativity, leading to better outcomes in both professional and personal spheres.

Cultivating positivity fosters a culture of collaboration and innovation, encouraging individuals to share ideas and take risks. This supportive environment can enhance employee engagement, reduce turnover rates, and create a more harmonious workplace. Additionally, a positive outlook helps us cope with adversity, empowering us to learn from experiences, adapt to change, and emerge stronger.

To nurture a positive mindset within ourselves and our teams, we can take actionable steps such as practicing gratitude, encouraging open communication, celebrating small wins, and promoting a growth mindset. By harnessing the power of positivity, we can inspire one another to view challenges as opportunities and celebrate every success along the way, ultimately creating a brighter future together.

Warm regards,

Norman Isaza ISSUE 4

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F O C U S 305 BARLOP BUSINESS SYSTEMS

A LEGACY OF SERVICE AND INNOVATION Walking through the doors of Barlop Business Systems is more than just entering an office technology company—it’s stepping into a legacy. A legacy built on hard work, dedication, and an unwavering commitment to customer service. This journey began in 1983 when two visionaries, Jose Lopez and Juan Barroso, combined their names— Barroso (Bar) and Lopez (Lop)—to form Barlop.

What started as a small copier business in a 600square-foot office in Hialeah Gardens has since expanded into a thriving enterprise. After moving into an 8,000-square-foot warehouse, Barlop reached a major milestone in October 2014, transitioning into a state-of-the-art, 15,000-squarefoot facility in Doral, Florida. This expansion represents more than just physical growth—it embodies the realization of a dream built on perseverance and a steadfast commitment to customers.

Today, Barlop remains a family-owned and operated company, now led by Jose and Madelyn Lopez’s three daughters. Monica Lopez serves as COO, Michele Lopez as CMO, and Mallory Lopez as CFO, supported by a leadership team with an impressive average tenure of 31 years.

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As the next generation continues to expand and diversify the business, the commitment to exceptional customer service remains at its core.

EVOLVING TO SERVE A CHANGING BUSINESS LANDSCAPE Barlop has grown into a business technology leader, helping South Florida companies work smarter, not harder—while maintaining the same integrity and customer-first philosophy that has guided it since day one. At Barlop, clients are more than just customers; they are partners in succes. When they thrive, Barlop thrives.

This philosophy has driven the company’s longterm investment in relationships and deep connections within the business community. As one of Barlop’s five core values, the "win-win" approach—centered on fostering mutually beneficial relationships—has been instrumental in the company’s success and reinforces its "Customer for Life" strategy every day.

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SUSTAINED GROWTH THROUGH EXCELLENCE Unlike many companies that expand through acquisitions, Barlop has chosen a different path—one driven by superior customer service. Through consistently exceeding expectations, Barlop has achieved organic growth, proving that success comes from delivering outstanding client experience.

Every service call, technology solution, and customer interaction are designed to help businesses become more productive and efficient.

This relentless commitment to excellence has positioned Barlop as a leading Managed Technology Services Provider, empowering its clients to stay competitive in an everevolving marketplace.

The Ricoh ProVision Dealer Partner Award is more than just an industry title; it represents the pinnacle of achievement in office technology. This exclusive certification is awarded to only the top 60 dealerships nationwide that meet Ricoh’s stringent performance and service standards. To secure this honor, Barlop demonstrated exceptional commitment to training, customer support, and innovation, excelling across critical ProVision criteria. Only dealerships that meet these demanding requirements for 2024 are considered for this prestigious recognition.

Award-Winning Dedication

BARLOP’S AWARD-WINNING DEDICATION TO EXCELLENCE Barlop’s commitment to excellence has not gone unnoticed. In 2024 alone, the company earned seven prestigious business awards, further solidifying its reputation as a leader in the office technology industry. Among these accolades are multiple recognitions from the South Florida Business Journal, including Best Places to Work, Fastest-Growing Technology Companies, and Top Private Companies in South Florida. Additional honors include the Latin Builders Association Business Solutions Company of the Year and the South Florida Hispanic Chamber’s Hispanic Leader in Technology Award. However, one award stands out as a true testament to Barlop’s unwavering dedication to customer experience and operational excellence—the Ricoh ProVision Dealer Partner Award (2022 2025).

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Winning the Ricoh ProVision Award for the second consecutive year underscores Barlop’s relentless focus on delivering top-tier service. It reflects the collective efforts of the entire team—from skilled technicians and dedicated sales professionals to visionary leadership—all working together to set new industry standards. By excelling in training, reporting, and technology implementation, Barlop continues to raise the bar, ensuring that customers receive best-in-class service and innovative solutions tailored to their business needs.

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F O C U S 305 Beyond office equipment, Barlop offers workflow solutions, communication solutions which include phones and whiteboards, managed IT services, and business technology consulting. As an authorized dealer of Ricoh, Brother, Sharp, and Epson, Barlop ensures that South Florida businesses have access to cutting-edge solutions tailored to their needs.

BARLOP BUSINESS SYSTEMS: EMPOWERING BUSINESSES, BUILDING LEGACIES. Further reinforcing its customer-first philosophy, Barlop has also been recognized with the Net Promoter Score (NPS) World-Class Service Award for seven consecutive years (2018-2024). This distinction speaks volumes about the trust and loyalty it has cultivated among its clients, vendors, and the business community.

Businesses looking to enhance efficiency and streamline operations can contact Barlop at (305) 594-0470 or visit www.barlop.com to discover how its smart technology solutions can transform the workplace.

These accolades are not just symbols of success; they represent Barlop’s deep-rooted commitment to exceeding expectations, building long-term relationships, and delivering technology solutions that drive real business results. Through passion, expertise, and a relentless pursuit of excellence, Barlop continues to set the gold standard in the office technology industry.

TECHNOLOGY THAT WORKS FOR BUSINESSES While many technology companies focus solely on innovation, Barlop takes a results-driven approach.

Every solution provided must achieve two key objectives: create a competitive advantage for clients and increase productivity across their organizations.

As COO Monica Lopez explains: "When our technology makes every employee at our clients’ businesses more productive, their competitors can’t compete—and they win more business. Technology should serve a clear business purpose, and we ensure it does."

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Thynk Unlimited

www.reallygreatsite.com @reallygreatsite

Insurance As Personal As Your Assets

Isis Garcia, ACSR Vice President - Private Client Specialist

O (305) 714-4448 | C (786) 553-5099 | F (305) 248-8543

Is Competition in Banking Healthy?

Yes! Competition in banking pushes financial institutions to improve their offerings, lower fees, and enhance customer service. It also fosters innovation, making banking more accessible and efficient through advancements like AI-driven financial advice and seamless digital transactions. However, too much competition can sometimes lead to riskier lending practices, so there’s a balance to maintain.

Competitiveness is a powerful force that can drive people to achieve remarkable feats but can also lead to conflict and stress. To better understand the psychology of competitiveness, we will discuss the origins, what the influences are, and its impact on individuals from a healthy and non-healthy way.

Origins of Competitiveness From the beginning of time, competitiveness was essential for survival and reproduction in a harsh environment. Competing for food, shelter, and mates ensured the continuation of genetic lines. In modern society, competition has evolved beyond basic survival needs and is now present in sports, academics, careers, social status and for purpose of this article "Banks" Banks can be categorized based on their functions, target customers, and regulatory structures. Here are the main types of banks:

1. Commercial Banks

Effects of Competition on Banks and Consumers

✅ Better Services & Innovation – Competition pushes banks to improve services, introduce mobile banking, AI-powered financial advice, and faster transaction processing.

✅ Lower Costs for Consumers – Banks offer

competitive interest rates on loans and higher yields on savings accounts to attract customers.

✅ Financial Inclusion – More competition can

lead to greater access to banking services for underserved populations, especially through digital banking solutions.

Challenges and Risks: ⚠️ Pressure on Profit Margins – Increased competition forces banks to reduce fees and offer better rates, potentially impacting profitability. ⚠️ Riskier Lending Practices – In an effort to attract more customers, some banks may relax lending standards, leading to financial instability. ⚠️ Cybersecurity Threats – As banks expand their digital presence, they face higher risks of cyberattacks and fraud.

Future Trends in Banking Competition

Serve individuals and businesses by providing services like savings and checking accounts, loans, and credit cards.

Examples: JPMorgan Chase, Bank of America, Wells Fargo.

2. Investment Banks Specialize in financial services like underwriting securities, mergers and acquisitions, and wealth management.

Examples: Goldman Sachs, Morgan Stanley.

3. Retail Banks

AI & Automation: Banks are investing in AIpowered chatbots, fraud detection, and personalized financial planning to enhance customer experience.

Sustainability & ESG Banking: Growing consumer demand for ethical banking is pushing banks to focus on green financing and sustainable investment products.

Collaboration Between Banks & Fintechs: Rather than compete directly, many banks are partnering with fintech firms to improve digital offerings and streamline services.

Focus on individual consumers, offering personal banking services such as mortgages, auto loans, and savings accounts.

Examples: CitiBank, TD Bank.

4. Central Banks Regulate a country’s money supply and oversee monetary policy. They control inflation, interest rates, and currency issuance.

Examples: Federal Reserve (USA), European Central Bank (ECB).

5. Cooperative Banks (Credit Unions) Owned by members and provide lower fees and better interest rates compared to commercial banks.

Examples: Navy Federal Credit Union, Alliant Credit Union.

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Is there a difference between Healthy and Unhealthy Competitiveness:

Competitiveness can have both positive and negative effects on well-being.

Healthy Competitiveness

Several factors contribute to competition in the banking sector:

Healthy competitiveness involves striving for self-improvement and achieving personal goals.

It fosters resilience, motivation, and a sense of accomplishment. This form of competitiveness encourages good sportsmanship, fair play, and respect for others. A prime example is Michael Jordan, whose relentless drive to improve made him one of the greatest basketball players of all time while still maintaining respect for the game and his peers.

Unhealthy Competitiveness Unhealthy competitiveness is driven by a need to outperform others at any cost. This mindset can lead to unethical behavior, such as cheating or sabotage, and can cause stress, anxiety, and strained relationships. Examples include corporate scandals like Enron, where extreme competition and a win-at-all-costs mentality led to unethical decision-making and financial collapse.

Conclusion Competitiveness is a double-edged sword.

When channeled correctly, it can drive individuals to push their limits and achieve greatness. However, when taken to an extreme, it can lead to stress, unethical behavior, and personal dissatisfaction. Striking a balance between ambition and collaboration is essential for harnessing the benefits of competition while mitigating its potential downsides.

increased

1. Technological Advancements – Digital banking, AI-driven financial services, and blockchain innovations have disrupted traditional banking models. Mobile banking, online payments, and fintech solutions have raised customer expectations for convenience and efficiency.

2. Regulatory Changes – Deregulation or regulatory reforms can impact competition. For example, open banking regulations in regions like the EU (PSD2) require banks to share customer data with third-party providers, increasing competition from fintech companies.

3. Customer Expectations – Modern customers demand personalized banking experiences, lower fees, and faster transactions. Banks must continuously enhance customer service, digital tools, and product offerings to stay competitive.

4. New Market Entrants – The rise of fintech companies, neobanks, and tech giants (like Apple and Google) offering financial services has intensified competition. These companies often have lower operating costs and focus on digitalfirst experiences.

5. Globalization – International banks expanding into new markets create competitive pressures for domestic banks, forcing them to enhance their services and adopt global best practices.

How does Competition affect the Human Body?

Increased Heart Rate & Blood Pressure: The body pumps more blood to muscles and the brain to enhance performance.

Surge in Stress Hormones (Cortisol & Adrenaline): These hormones provide a temporary energy boost, heighten alertness, and sharpen focus.

Increased Muscle Tension: The body prepares for quick movements, but prolonged tension can lead to muscle fatigue or injuries.

Boosted Oxygen Intake: The respiratory system works harder to supply muscles with oxygen, improving endurance and reaction time.

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What are the Factors which influence Competition: Several factors influence a person’s level of competitiveness. These can be broadly categorized into genetic, environmental, and situational factors.

Genetic Factors Research suggests a genetic component to competitiveness. Some individuals are naturally more competitive due to their genetic makeup. For example, elite athletes.

This genetic predisposition may also contribute to a competitive personality, driving individuals to strive for excellence.

Situational Factors

A competitive environment, such as a high-stakes job or an elite sports team, can amplify a person’s competitiveness.

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Conversely, a collaborative and supportive setting may reduce the need to compete. Workplace cultures that emphasize performance-based rewards often increase competitiveness, while team-oriented environments may foster cooperation over rivalry.

Adapting Competitive Instincts The role of competition changes throughout life. Athletes, for example, often struggle with finding new outlets for their competitive drive after retirement. Without proper redirection, this transition can lead to frustration and stress. Many former athletes successfully channel their competitiveness into business ventures, coaching, or personal development to maintain a sense of purpose and achievement.

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Environmental Factors The environment in which a person is raised plays a crucial role in shaping their competitive nature. Family dynamics, cultural background, and societal values all influence an individual's competitiveness. For instance, children with athletic parents may be encouraged to participate in sports from an early age, benefiting from both training resources and motivational support.

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THE WHITE HOUSE’S PROPOSED CHANGES TO FINANCIAL REGULATORS AND THEIR IMPACT ON BANKERS Regulatory shifts often accompany changes in the White House, but President Donald Trump’s proposed financial oversight reforms stand out in scope and potential impact. His administration is pushing for increased executive control over independent financial agencies, sparking debates over efficiency versus political influence. Bankers may benefit in the short term, but the long-term consequences remain uncertain.

New Leadership for Financial Regulatory Agencies Trump’s appointments further signal a deregulatory agenda: Office of the Comptroller of the Currency (OCC): Jonathan Gould’s nomination suggests a push for relaxed banking regulations.

Commodity Futures Trading Commission (CFTC): Nominee Brian Quintenz, known for his pro-cryptocurrency stance, will likely advocate for looser digital asset regulations.

Federal Deposit Insurance Corporation (FDIC): Travis Hill was appointed Acting Chairman of the FDIC Board of Directors on January 20, 2025, and has pledged to undertake a comprehensive review of bank regulations, guidance, and operational manuals.

Consumer Financial Protection Bureau (CFPB): Russ Vought, a vocal critic, was named acting director. He quickly announced the cessation of agency funding, fired around 70 employees, and shut down operations. On February 11, 2025, President Trump appointed Jonathan McKernan to be the permanent Director of the CFPB, pending Senate confirmation.

These moves align with the President's broader goal of reducing financial oversight and fostering an industry-friendly regulatory environment.

The CFPB Shutdown Controversy Greater Presidential Control Over Independent Agencies

The CFPB, created after the 2008 financial crisis to protect consumers, is now at risk of dissolution according to critics.

Vought’s swift actions—including terminating employees, locking the headquarters, and removing signage—signal a potential permanent shutdown.

In February 2025, President Trump issued an executive order expanding White House authority over agencies like the Securities and Exchange Commission (SEC), Federal Trade Commission (FTC), and Federal Communications Commission (FCC) amongst others.

These agencies would now submit proposed regulations, strategic plans, and budget requests for White House review. While monetary policy at the Federal Reserve remains untouched, its regulatory functions would fall under greater executive oversight.

Supporters argue this increases efficiency and accountability, while critics warn of compromised neutrality, making agencies more susceptible to political influence.

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Finance

Critics argue that dismantling the CFPB would roll back consumer protections, while supporters claim its functions can return to pre-existing agencies like the FTC. Legal scholars contend that the President lacks the authority to unilaterally close a congressionally established agency, setting the stage for a court battle that could test the separation of powers.

The Trump administration has refuted claims that it intends to dismantle the Consumer Financial Protection Bureau (CFPB).

In a recent court filing, government attorneys asserted that the consumer watchdog will remain operational, despite efforts by an employee union and other groups to block what they describe as the agency’s “wholesale dismantling.”

More Financial Federal Regulators Fired The Trump administration, in collaboration with Elon Musk’s Department of Government Efficiency (DOGE), has enacted significant workforce reductions at financial regulatory agencies. At the CFPB, 70 probationary employees, including enforcement attorneys, were dismissed, and the FDIC offered buyouts to 500 employees. Meanwhile, the OCC has not publicly disclosed specific numbers regarding employee terminations, but one article claims that 76 probationary employees have been terminated. Critics argue that these cuts could weaken financial oversight, increase risks for consumers, and undermine regulatory stability. Experts warn that such downsizing might destabilize financial regulation and leave consumers more vulnerable to financial misconduct.

Impact on Bankers and Financial Institutions If enacted, these reforms could reshape the financial sector in several key ways: Reduced Regulation, Lower Compliance Costs: Banks and financial firms may face fewer regulatory hurdles, reduction of compliance overhead and increased profit sharing.

Increased Political Influence Over Regulators: Critics fear that White House control over independent agencies could lead to politically motivated decisions, reducing regulatory stability.

Uncertainty for Financial Institutions: Legal challenges and structural changes could complicate long-term planning and compliance strategies. In the case of the CFPB, the laws remain on the books, but the enforcement has been significantly weakened due to staffing cuts, budget reductions, and policy shifts limiting regulatory actions.

The President's proposed regulatory overhaul marks a major shift toward deregulation and expanded executive authority.

While reduced oversight may provide short-term benefits for banks, lingering concerns over financial stability, political influence, and potential legal battles create an uncertain landscape. The true impact will depend on how these reforms are implemented and whether they withstand legal and political challenges.

As a former banker, I’m observing these developments unfold in real time. Many bankers I’ve spoken with welcome fewer regulations, but the rapid pace of change is introducing uncertainty, potentially leading to caution in long-term planning and investment decisions. Only time will tell how it all plays out.

WRITTEN BY

Orlando Diaz 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.

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IT'S TIME FOR...

t o i c C e o f n a C

a i n e s e Y Building relationships one cafecito at a time @cafecitoconyesenia_ ISSUE 4

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Cafecito Con Yesenia Presents

Juan P. Esterripa Cafecito Con Yesenia recently met with Juan Esterripa for a delightful coffee at the Coral Gables Country Club.

Esterripa has been serving as Amerant Bank's Senior Executive Vice President and Chief Commercial Banking Officer since April 2023.

With extensive experience in Corporate and Commercial Banking, he oversees various sectors, including Commercial Banking, Real Estate, syndications, specialty finance, and Treasury Management, while driving business development and profitable growth.

SEVP Chief, Commercial Banking Officer at Amerant Bank EMC Member

A graduate of the Harvard Business School Executive Management Program, Esterripa has significantly contributed to the organizations he has worked with, leveraging his insights and strategic vision to enhance growth and profitability. Additionally, he is on the board of Big Brothers Big Sisters of Miami.

Prior to his role at Amerant, Esterripa was the Executive Vice President and Wholesale Banking Executive at City National Bank Florida and held several other senior positions at banks such as BankUnited, Stonegate Bank, Capital Bank, Pacific National Bank, and Mercantil Commercebank. His impressive career reflects a strong commitment to the banking industry and community involvement.

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Monthly Spotlight M2 COMMUNICATIONS Martha Medina is the President and Founder of M2 Communications Group, an award-winning, minority-certified, and woman-owned agency she established in 2018. The agency specializes in creating strategic marketing solutions that seamlessly integrate digital programmatic marketing with traditional approaches, including media buying, public relations, grassroots initiatives, and influencer marketing.

M2 Communications Group is dedicated to delivering targeted digital campaigns tailored to meet the specific needs of clients across various industries. Utilizing a localized and data-driven approach, the agency ensures that key messaging aligns with desired outcomes, whether the goal is to enhance brand visibility or drive conversions for specific products or events.

The agency leverages precision targeting capabilities across all device types, enabling real-time tracking of both online and offline conversions. Through proprietary data-sourcing techniques, M2 executes hyper-targeted marketing campaigns that boost audience engagement and maximize impact. Their high-precision campaigns can target demographics nationwide, down to the city, neighborhood, or even individual households and business locations.

Martha Medina President & Founder

As businesses navigate an evolving market landscape, M2 Communications Group offers tailored solutions and an innovative digital platform that demonstrate proven success.

By adapting to shifting consumer behaviors, the agency empowers businesses to reclaim their customer base and enhance overall performance. With a focus on costeffectiveness and real-time data insights, M2 helps clients make informed decisions that drive success.

Martha's expertise in digital programmatic marketing and artificial intelligence dates back to a time when only a select few multinational corporations had access to such technology. Through her partnership with one of the largest digital platforms, she has brought hyper-targeted audience technology to medium and small businesses, including the growing field of Streaming TV, which is increasingly replacing traditional cable.

PERSONAL BACKGROUND Born in Kansas City, Missouri, Martha moved to Colombia with her family when she was just one year old. She grew up alongside her sister, Olga, and her brother, Fernando. Later, she returned to the United States, marking the beginning of a transformative journey. Martha currently resides in Florida with her husband, John Tovar, and their children, Nicolas and Gabriella. She has a deep appreciation for the arts, particularly theater, and has served on the board of Water People Theater, one of Chicago’s most recognized theater companies, driven by her belief in the transformative power of the arts.

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CHALLENGES AND INSIGHTS FOR EMERGING ENTREPRENEURS

MEDIA BACKGROUND: Martha has a robust background in traditional media, having worked extensively in Colombia for nearly a decade. Her career began during her final semester of college when she joined Caracol TV, one of Colombia's largest television networks. This role allowed her to travel widely and produce various shows.

After relocating to the United States, she continued her media career with Univision Radio, freelanced for Telemundo, and collaborated on the radio show "Mujeres Sin Censura." She also hosted the independent TV show "Gente de Éxito." Although her initial plan was to return to Colombia after exploring the U.S. media landscape, her life took a different path when she fell in love and chose to build a life in the U.S. Her media experience instilled in her a profound appreciation for storytelling, which became instrumental in shaping her marketing career.

Starting a business presented its challenges. Martha attended industry conferences, kept abreast of technological advancements, and continuously refined her skills to ensure success. One of her proudest achievements is her ability to embrace change without fear. Moving from Colombia, where she had a successful journalism career, to Chicago—a city where she initially knew no one—was a significant transition. However, she ultimately fell in love with the city, its rich cultural offerings, and its welcoming community.

Relocating from Chicago to Miami was another major decision, motivated by personal reasons and a desire to be closer to family in Colombia. Now residing in Weston, FL, she enjoys the warm weather and vibrant community.

For emerging entrepreneurs, Martha emphasizes the importance of perseverance, discipline, and preparation—traits she developed through experience and dedication. She views failure as a valuable teacher and encourages aspiring entrepreneurs to remain committed to their goals, even when they appear daunting. Engaging with the community and giving back is not only fulfilling but also immensely rewarding.

Martha's journey from a Colombian journalist to a U.S.-based entrepreneur serves as a testament to the idea that, with dedication, education, and resilience, success is achievable.

THE BIRTH OF M2 COMMUNICATIONS In 2018, Martha ventured into business ownership after years of experience in MultiLatino Marketing. A pivotal moment occurred when her sister’s best friend introduced her to the emerging field of digital programmatic marketing. Recognizing its potential as the future of the industry, she was inspired to explore this innovative space, leading to the establishment of M2 Communications Group and collaborative partnerships with other companies.

Determined to understand the digital programmatic marketing ecosystem fully, Martha immersed herself in learning and identifying effective ways to position strong value propositions for targeted campaigns.

She developed a strategic approach that leverages complementary strengths, fostering mutual growth with her partners. This methodology emphasizes personalized outreach and integrates specific marketing aspects that enhance engagement between companies and individuals, resulting in impactful, data-driven campaigns.

Today, Martha operates two offices—one in Chicago and another in Weston, Florida—managing local, national, and international campaigns that continue to expand M2 Communications Group's influence in the industry.

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ELS HOME HEALTH OPENS NEW OFFICE 7155 SW 47TH ST. UNIT 310. MIAMI, FL 33155

WE AIM TO CHANGE THE HOME CARE INDUSTRY THROUGH THE EXAMPLE OF ORGANIZATION, DISCIPLINE, AND PROFESSIONALISM. Commitment and innovation that transform home care Ribbon cutting at the inauguration of our new building: the beginning of an era of progress and consolidation in our modern offices.

In March 2019, the dream of improving working conditions for home health aides was born. Inspired by the experience of Maira, Nelson's mother, and Gustavo, who dedicated over 16 years to caring for others, the founders recognized the urgent need for an agency that would protect, advocate for, and uphold the rights of these professionals. Through the union of talents and vocations, Nelson Ferrod, Gustavo Rodriguez, and Vanessa Ferrod brought Eternal Life Services Home Health to life.

ETERNALIFESERVICES.COM ● MIAMI DADE LIC#299995489 - BROWARD LIC#299996175

Today, six years later, the building that solidifies Eternal Life Services' presence in the market is inaugurated. The agency has established itself as a leader in the home care sector, receiving recognitions such as being named one of the Top 50 Companies in Florida by GrowFL, the “Company of Excellence” award granted by the South Florida Hispanic Chamber of Commerce, and the “Company of Honor” recognition awarded by Dariel Fernández, Tax Collector of Miami- Dade County. With the largest network of home health aides and a multilingual team available 24/7, including weekends, Eternal Life Services reaffirms its commitment to providing support and protection to those who dedicate their lives to the well-being of others.

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.

BANKING NOT AS USUAL

1390 Brickell Avenue, Miami, FL 33131 305.539.7500

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4137 North Federal Highway, Unit #7, Boca Raton, FL 33431 561.448.4541

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Michelle Shirley, CEO and Chief Heart Officer Carlos Villacis, Development & Community Relations Paloma Valencia, Client Engagement Manager

A NIGHT OF RHYTHM, HEART, AND CELEBRATION A night of rhythm, heart, and celebration unfolded beautifully at the Rusty Pelican, hosted by the inspiring Michelle Shirley, CEO of the Heart Office for the BeStrong International Foundation.

This gala was not just an event; it was a heartfelt gathering of community leaders coming together to celebrate resilience, hope, and the power of unity. The ambiance was alive with rhythm, as music filled the air, echoing the spirit of collaboration and shared purpose.

Attendees were treated to captivating performances, and heartfelt speeches that highlighted the incredible work being done by the BeStrong International Foundation to uplift and empower individuals and families in need. Among the distinguished guests were notable community leaders such as Lilly Lopez, David Pruna, Adriana Verdeja, Rick Beasley, Ana Veiga Milton, Randy Weber, Ana Martinez, and Marilyn Del Orbo, amongst many others.

Their presence underscored the importance of community engagement, and the collective effort required to foster positive change. As the night progressed, connections were forged, stories were shared, and a renewed commitment to supporting one another emerged. The gala was a testament to the strength of community, reminding everyone that together, we can create a brighter, more compassionate future for all.

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THEIR STORY: BESTRONG INTERNATIONAL Althea McMillan, a former Miami-Dade County Public School teacher in the 1980s, saw many promising youths drop out of school due to premature pregnancies, a challenge she personally faced as a 15year-old pregnant dropout from a high-crime, economically disadvantaged neighborhood. Aware of the cycles of poverty and trauma affecting her students, many of whom came from single-parent homes, she became dedicated to educating youth and parents on emotional, mental, physical, and spiritual well-being.

In 1992, McMillan founded Be Strong International, a 501(c)(3) nonprofit organization, which she grew almost single-handedly until it gained community recognition and received its first grant in 1998. The organization has since expanded its mission and positively impacted thousands of youths and families, demonstrating that with the right tools, success is achievable.

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Understanding Tariffs and Their Impact on the Banking Industry What Are Tariffs?

Tariffs are taxes imposed by a government on imported goods and services. They are designed to protect domestic industries from foreign competition by making imported products more expensive. Tariffs can serve various purposes, including generating revenue for the government, encouraging local production, or responding to unfair trade practices from other countries. While tariffs can benefit certain sectors by shielding them from international competition, they can also lead to higher prices for consumers and retaliatory measures from trading partners.

Due to recent tariff implementations with the advent of a new administration, there have been significant shifts in trade policy, including the introduction or adjustment of tariffs. These changes can arise from a desire to protect domestic jobs, reduce trade deficits, or address trade imbalances. Depending on the specific goods affected and the rationale behind the tariffs, the implications can vary widely across different sectors of the economy. Impact on the Banking Industry The implementation of tariffs can have several direct and indirect effects on the banking industry, particularly in the following areas: 1. Economic Growth and Loan Demand Tariffs: This can lead to increased production costs for businesses, which promotes inflation. As companies grapple with these rising costs, they may reduce their investments and expansion plans. This cautious approach can lead to decreased demand for loans. For community banks, which often focus on lending to local businesses and consumers, a slowdown in loan demand can adversely affect profitability and growth.

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2. Interest Rates and Borrowing Costs: In response to inflationary pressures stemming from tariffs, the Federal Reserve may decide to raise interest rates to stabilize the economy. Higher interest rates can increase the cost of borrowing for consumers and businesses, potentially leading to reduced loan origination and a shift in consumer behavior. Community banks, which typically offer competitive rates to attract borrowers, might find it challenging to maintain volume in a rising rate environment.

3. Credit Risk and Loan Portfolios: As tariffs impact specific industries such as manufacturing, agriculture, or retail community banks with significant exposure to these sectors may face increased credit risk. Businesses struggling with higher costs may be less able to repay loans, leading to rising default rates. In response, banks may need to adjust their lending practices and increase their reserves for potential loan losses, which can further strain their financial performance.

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4. Sectors will be impacted in distinct ways by tariff policies due to their unique characteristics or dependencies. For instance, a community bank heavily invested in agricultural loans may see significant challenges if tariffs impact farmers' profit margins.

Similarly, banks with a focus on manufacturing may need to be vigilant as production costs rise and competition from abroad shifts. Understanding the specific vulnerabilities within their loan portfolios will be crucial for community banks.

5. Local Economic Impact Community: Banks are deeply integrated into their local economies. If tariffs lead to job losses or business closures within a community, the repercussions will be felt directly by the bank's customer base. Reduced economic activity can lead to lower deposits, less loan demand, and ultimately, diminished profitability for the bank.

6. Increased competition in a tariff-affected environment, larger banks with more resources may be better equipped to navigate challenges. This competitive pressure can lead community banks to adjust their service offerings, potentially increasing the rates or fees they charge. The need to remain competitive to push them to innovate and enhance customer services.

7. Regulatory changes and compliance costs the introduction of tariffs may lead to shifts in regulatory frameworks, affecting compliance requirements for banks. Increased operational costs associated with adapting to new regulations can strain community banks, particularly those with limited resources.

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The implementation of tariffs by a new administration poses both challenges and opportunities for the banking industry. While they may protect certain sectors, the overall impact can ripple through the economy, influencing loan demand, credit risk, and competition. Community banks, which play a vital role in local economies, must remain agile, adapting their strategies to navigate the complexities introduced by changing trade policies. By doing so, they can continue to support their communities while managing the risks associated with a shifting economic landscape.

By: Norman Isaza

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WHY US? Partnering with New Edge Associates ensures expert guidance in BSA/AML Compliance.

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