Federal delegate’s report

by emily Hofer, iCBa national director, Merchants state Bank, Freeman, sd

We made it! We made it to 2021. the year 2020 felt like the longest decade of my life! We are a short two months out of the gate into 2021, and it somehow feels like groundhog day. We have been propelled back into the PPP zone. We are still facing shutdowns and cancellations of events. the vaccine program is deploying too slow (for my liking.) i’m looking forward to the post-pandemic time of our lives.

Community bankers have proven our industry to be nimble, while adhering to our roots and relationship banking philosophy, one loan – one customer – at a time, building and sustaining the communities that we call home. We provided the overwhelming majority of PPP loans in the first round, and i believe that trend will continue through this second round. Our industry has been critical for maintaining and restoring jobs and creating economic opportunity on Main street.

iCBa’s President & CeO, rebeca romero rainey, recently sent an open letter to the newly sworn in members of the 117th Congress. in this letter, romero rainey outlines iCBa’s policy priorities for this new Congress. iCBa’s laser-focus on supporting Community Banks has not and will not waiver with the ever-changing financial landscape. Priorities to support a competitive landscape for a dynamic economy and continued Community Bank prosperity include abolishing regulatory subsidies for Fintechs; closing the iLC loophole; eliminating tax subsidies for rapid-growth, bank-like credit unions; stalling Farm Credit’s overcrowding of the rural lending space; incentivizing american agriculture; supporting housing finance reform to provide access to secondary markets for lenders of all sizes; and squashing the postal banking initiative.

this iCBsd Bottom Line is hitting your inboxes around the eve of iCBa’s largest event of the Year – iCBa Connect. i’m finally coming to terms with the fact that i won’t be meeting my boyfriend, Matthew McConaughey, on the beach in Hawaii in March! although we aren’t meeting in person this year, iCBa has designed a virtual and interactive program that is sure to inspire us as Community Bankers and to keep our internal fires stoked for 2021 and beyond.

My favorite iCBa event of the year – the Washington Policy summit – is going virtual this year too. i know iCBa is hard at work hashing out the details at this time. i’m certain that they will find a way to get us face-to-face virtually with our elected delegation in Washington. since a virtual event will be a significant cost savings to your travel budget for the year, i encourage you to engage as many of your staff as possible in this event. they will be able to attend from the office

and will have a front row seat to iCBa’s

advocacy efforts. each and every voice that speaks up for Community Banking is important to our continued success.

Just like Bill Murray’s character in groundhog day, i’m looking forward to a new season – a season with

less regulatory changes, a season of prosperity for Main street america, and a season of face-to-face meetings with peers and friends. Until that time comes, i hope to see you all virtually. as always, if you have any questions, comments, or stories to share, i can be reached at ehofer@msb-sd.com or 605-660-4790.