March 31, 2021

The MIBA’s employee/dependent scholarship program provides greater penetration to and more benefit for our member
banks and their employees. This year, the MIBA will award 16
$500 scholarships again, with four awarded to member banks
in each of the four membership regions.

Just as with banks, there is no single licensing or regulatory agency that oversees fintech companies. Depending on their activities, they can be licensed or supervised by local, state or federal regulators on a functional or activity-based basis.

To understand how bankers will prioritize their digital strategies in light of the tumultuous year that was 2020, CSI — a leading provider of fintech and regtech solutions — polled banking executives from around the country, representing 272 financial institutions from across the asset-size spectrum. This survey data was then collected and used to create an executive report to help bankers gain insight into the industry’s hottest topics and strategies.

We’ve surpassed another milestone; surviving a full year from the COVID-19 global pandemic that forced a government shut down last March. That doesn’t surprise many, as community bankers have always been known for rallying through the storm and upholding their communities. 2020 has proven once again that community bankers will continue their efforts to do whatever it takes to get the job done.

The pandemic has brought a lot of change to financial institutions, including how to engage with your borrowers, serve their needs, and drive additional revenue into your bank. For many, this includes looking at partnering with alternative lenders.

If my recent aggregate conversations with investment managers are an indication, there is still a lot of seat-of-the-pants decision-making going on out there when it comes to portfolio strategies. And I hasten to add this is not a criticism; it’s merely an observation. Why should we expect anything else?

In 2020, SPACs raised approximately $80 billion — about as much as the last 10 years combined. By most estimates, there were over 235 public SPAC offerings last year, with an average public offering of $334.8 million. SPAC fundraising in 2020 accounted for about 50% of the IPO market share.