Independent Banker - April 2019 - 51

does not disadvantage community banks. Embrace
financial technology.
How did you get involved with ICBA?
Wilcox: All community banks will continue to grapple
with continuing consolidation. Getting regulatory relief
measures in place as Congress intended is a pressing issue,
as is getting additional relief measures passed. Managing
cost of funds and net interest margin will continue to be a
point of focus going forward.
Underwood: We need to be able to meet client
demands through technological innovation to remain
competitive. We also need to continue advocating for
right-sized regulation.
Fisher: Although fintech companies are sometimes seen
as opponents or even threats, community bankers instead
need to view them as partners and find ways to work
together to create solutions for our clients. It appears
that GSE reform may happen in the near future. Any GSE
reform effort must provide equitable secondary market
access for lenders of all sizes, and retention of mortgage
servicing rights on transferred loans. Finally, we need to
ensure the banking system and Federal Reserve retain
control of the payment system, which is the basis of our
franchise values.
Frazier: The regulatory environment, nuances of
regulation and the application of such will challenge the
industry. Low unemployment creates additional challenges
in recruitment and retention of quality talent, affecting
customer service, a community bank's distinct advantage.
Zimmerman: That's a tough question; there are several
big issues and a multitude of others. The regulatory
burden is clearly one of them, from call report changes to
regulatory capital simplification. Add to that the threats
to our franchise from unfettered credit union expansion
and possible watered-down charters for nonbanks. Finally,
GSE reform is something we have to be part of to ensure
community banks continue to have equal and easy access
to the secondary mortgage market.
Heitkamp: As I mentioned before, using technology to
enhance the customer experience will be hugely important.
Loving: We have won many battles in regard to regulatory
relief. However, the war still rages. This negative impact,
along with increased competition from nontraditional
institutions and credit union expansion, will continue to
put pressure on our industry.
Kennedy: My first involvement with ICBA was with
its affiliate, ICBA Securities. I needed to learn how to
manage an investment portfolio, and fast! I didn't know
much about ICBA, but I knew that community bankers
were involved in oversight of ICBA Securities and, given
my inexperience, that gave me a considerable amount of
comfort. It was one of the best decisions of my career.
Wilcox: I believe the year was 2007. Marshall Mackay
had been elected as a state director in Minnesota to ICBA's
board. Partway into his term, he stepped down after
accepting an offer to run our state association, ICBM. ICBA
WE NEED TO BE ABLE TO
MEET CLIENT DEMANDS
THROUGH TECHNOLOGICAL
INNOVATION TO REMAIN
COMPETITIVE.
-KATHY UNDERWOOD
had a special election, I showed interest in the opportunity
to give back, was nominated by several banks and have
been involved in many ways ever since. What a journey!
Underwood: I started going to ICBA conventions shortly
after joining my community bank. I quickly realized ICBA
was an organization that I wanted to get more involved
in. I knew the ICBA mission of creating an environment
where community banks flourish was important to helping
my bank succeed. I was thrilled to receive a call from the
retiring Vermont state delegate suggesting I serve as state
delegate, my first position in the ICBA organization.
Fisher: I became involved in ICBA when I was going
through the chairs of IBANYS, our state association.
I knew some other bankers from New York who were
heavily involved in ICBA, Sal Marranca and John
Buhrmaster, and followed their lead. I've been involved
on numerous committees, including Lending, Policy
Development and ICBPAC. ICBA is a great association
with great people. Again, getting involved can have a
dramatic impact on our business. Many bankers spent
a good deal of time and effort pushing for regulatory
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