Independent Banker - April 2017 - 12

With Interest
AROUND THE INDUSTRY
Promise to the
community-In April 2012,
Busey, based in Champaign, Ill.,
established its annual Community
Promise Month to celebrate
National Volunteer Month. Last
April, Busey associates joined
community members to work more
than 2,100 hours for 300 charitable
organizations in central Illinois,
Indianapolis and southwest Florida.
Busey associates' annual volunteer
hours have tripled since 2013.
Pictured here is the Busey Illinois
Youth Run, for children 10 and under,
which celebrates the importance of
healthy living.
Entries for NextGen
Scholarships now open
Time
Ambitious and forward-thinking
mid-level
community bankers
are invited to enter the
NextGen Scholarship
contest. Provided by ICBA
and FIS, each of the four
national scholarships
off ers tomorrow's leaders
a chance to accelerate
their career development and push past the traditional
boundaries of community banking.
One person will receive a scholarship to the three-year
program at Barret School of Banking in Memphis, Tenn.,
including tuition and room and board, worth almost
$14,000. Two will receive the registration fee and $500
travel reimbursement to ICBA's annual LeadFWD Summit,
Nov. 5-7, 2017, in St. Louis, Mo. And one will receive free
registration to any Community Banker University institute
or certifi cation program in 2017, a value of $2,295.
Each entrant will be required to complete a few short
essay questions and supply a letter of recommendation
from an executive-level offi cer at the applicant's bank.
Only 100 applications per scholarship will be accepted,
so act now. The deadline is April 21, 2017.
Visit icba.org/scholarship for more information on the
available scholarships.
12 ICBA IndependentBanker April 2017
The catalyst for the
Great Recession?
Machine
On April 28, 2004, a brief
meeting took place in a basement
hearing room that resulted
in dire consequences for the American economy.
The Securities and Exchange Commission met
with leaders from Goldman Sachs, Morgan Stanley,
Lehman Brothers, Bear Stearns and Merrill
Lynch to discuss " an urgent plea. " The fi ve big
investment banks were asking for an exemption
from an old piece of regulation that limited the
amount of debt their brokerage units could take
on. The SEC chose to listen and loosened the net
capital rules. The big banks ended up taking on
damaging levels of debt, and the effects on the
wider economy would be catastrophic. Lee Pickard,
a former SEC director, wrote in a 2008 essay,
" The losses incurred by Bear Stearns and other
large broker-dealers [were caused by] inadequate
net capital and the lack of constraints on the
incurring of debt. "
-Sara Schlueter

http://www.qmags.com/clickthrough.asp?url=www.icba.org/scholarship&id=20215&adid=P12E1

Independent Banker - April 2017

Table of Contents for the Digital Edition of Independent Banker - April 2017

Table of Contents
Independent Banker - April 2017 - Intro
Independent Banker - April 2017 - Cover1
Independent Banker - April 2017 - Cover2
Independent Banker - April 2017 - Table of Contents
Independent Banker - April 2017 - 2
Independent Banker - April 2017 - 3
Independent Banker - April 2017 - 4
Independent Banker - April 2017 - 5
Independent Banker - April 2017 - 6
Independent Banker - April 2017 - 7
Independent Banker - April 2017 - 8
Independent Banker - April 2017 - 9
Independent Banker - April 2017 - 10
Independent Banker - April 2017 - 11
Independent Banker - April 2017 - 12
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Independent Banker - April 2017 - Cover3
Independent Banker - April 2017 - Cover4
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