Pub. 2 2022 Issue 5

MIBA 45th Annual Convention & Expo was held September 12-14 at The Lodge of Four Seasons in Lake Ozark, Missouri. Attendees enjoyed education sessions, networking and entertainment. A big thanks to our sponsors who made this convention possible. We hope to see you at our next event. For more information, please visit www.miba.net.

Company culture matters. It seems fair to say that’s a near-universally accepted truth among business leaders these days. No longer seen as a fringe benefit, secondary to things like salaries and bonus plans, culture has become a key differentiator for many companies over the past decade. It’s easy to see why when you recognize that, according to a Deloitte study, 94% of executives and 88% of workers believe strong company culture is key to business success.

Where are your main bank and branches located? And what is the market like?
Our main bank is located in St. Clair, MO, with branches in High Ridge, Lonedell and Eureka. The market areas for each branch vary widely in median income, with two being more rural and two mostly urban.

We continue to see a pattern in our country that I’m sure you, as bankers, are well aware of. Political agendas, specifically climate change, are seeping into areas that have absolutely nothing to do with them. Through the guise of Environmental Social and Corporate Governance (ESG), progressives within the government and corporate America are taking outspoken positions on political and social issues that should have no bearing on business.

It cannot be disputed that the agriculture and food industries are a substantial part of the American economy. In 2020, according to the USDA, agriculture, food, and related industries reflected 5% of the U.S. GDP, or approximately $1.055 trillion. In Missouri, according to a 2021 economic contribution study, agriculture, forestry, and related industries contributed $34.9 billion in value added to the Missouri economy.

With the August primaries behind us, a clearer picture of the 2023 legislature is emerging. There will be eight new members of the Senate come January. Given the makeup of the districts, we predict the following will be elected in November: Nick Schroers, 2nd; Travis Fitzwater, 10th; Rusty Black, 12th; Curtis Trent, 20th; Mary Elizabeth Coleman, 22nd; Tracy McCreery, 24th; Ben Brown, 26th; and, Jill Carter, 32nd.

This month’s issue of Independent Banker focuses on budgeting issues with a special emphasis on the ICBA National Community Bank Service Awards. With that two-pronged concentration, I can’t help but consider the connection between our role of service and the impact regulation can have on our very ability to serve.

In today’s intense regulatory landscape, compliance extends to every aspect of banking, so much so that no one person or team can be solely charged with managing a bank’s compliance requirements. In fact, compliance has grown to become a massive responsibility that must be part of every employee’s job. We’re looking at the need for a full culture of compliance.

This letter is my first as the newly elected President of MIBA. It is an honor to serve you and all community banks in Missouri. Following Jack Hopkins as President is daunting, and I will continually strive to meet the expectations he set through his example.