|By Bengtson, Tom|
Introducing the new ICBA Chairman
"From 1978 to 1986 - my entire high school and college years - our bank was under a cease and desist order from the Comptroller of the Currency. At one time we were told we were one of the most likely banks in the country to fail. In fact, multiple times, the OCC brought big bank buyers to Scotia just to look at our bank. Yet we didn't fail. Of the more than 1,300 banks with orders against them, only two survived with local ownership. We were one of the two."
Buhrmaster continued: "In 1923 our bank was founded to make peoples' lives better. In 1978 that was still true. So they fought and fought and finally won a long battle to stay open. It was a costly and exhausting fight but my father will tell you, to this day, it was worth it. The community rallied behind them. Our directors, customers and staff put their money, sweat and faith behind the effort. Our bank was founded not only as a community bank; it was saved by the very community it served. Our community saved us.
"Not only did they preserve the bank, they also preserved several businesses that continue to this day to provide vital services to our community. Most of you will find this hard to believe, but all those loans that the regulators told us were bad and had to be charged off at that time, well, not all of them were that bad."
Buhrmaster said not only was his father a fighter, but his mother was too. She was a volunteer at a hospital. She spoke up against the county's initiative to close it. She lost that battle but ran for public office and won. "She helped turn that hospital into a drug treatment facility that over the years has helped thousands of people make their lives better," Buhrmaster said.
Comments from the out-going chairman
Throughout the previous 12 months, Loving and the ICBA pressed the too-big-to-fail issue. Loving told the general session audience: "I am confident there are two four-letter words that have been added to the too-big-tofail repertoire: 'ICBA' and 'Fine.' We will continue to fight until the day when the systemic risk of these institutions is eliminated."
Former ICBA chair on key issue
One convention attendee was
"They want me to tell them which of my loans is going to go bad," Cloutier lamented. "Well, tell me how much snow is going to fall in the next five years, or what the price of oil is going to be in five years."
Cloutier said the approach is going to cause banks to over-reserve; earnings from a regulatory perspective will decline. The
How to talk to a 20-year-old
Dorsey said it is important for bankers to understand Millennial because they make up the emerging workforce and customer base. He said Millennial like to think of themselves as unique. "If you are marketing to this generation, use a tag line such as 'As unique as you are'," Dorsey suggested. "Words such as unique, special, one-of-a-kind are words we respond to."
Dorsey explained that Millennial love to look at screens and they have trouble communicating without them. He suggested that if a
A few numbers from the
* Bank failures peaked in 2010 at 157; last year there were 24.
* The number of banks on the
* At the low-point of the financial crisis, the
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