Independent Banker - September 2022 - 7

FLOURISH
" Community banks stand out in
today's financial services space
because our business model depends
on an ecosystem where the bank only
benefits when customers do. "
Rebeca Romero Rainey
President and CEO, ICBA
his month's 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.
Inherent to our business model is a
passion to support our communities,
one that allows for flexibility to meet
the individual needs of our customers.
On the other end of the spectrum,
rigidity is intrinsic to regulation. That
pressurized relationship constantly
needs calibration to ensure that our
customers and communities remain
the priority, and regulators and
legislators need to understand that
regulatory constraints often limit a
community bank's ability to support
its customers.
For example, there's a lot being
discussed about the overdraft
rules, how they will get written
and what effect they will have
on the communities we support.
Overdraft is a service we provide to
our customers-one that is clearly
disclosed and articulated-and our
customers choose to derive value
T
from it. Overzealous regulation will
limit a product specifically designed to
protect their interests.
Doing what's right for our customers
remains our chief priority and our
guiding principle, and there's certainly
much we can do outside of our banking
services to make that happen.
Just look at this year's National
Community Bank Service Award
recipients. American Savings Bank
in Honolulu runs the Kahiau Giving
Campaign to benefit local nonprofits.
First Community Bank of the
Heartland in Clinton, Ky., started its
Make a Difference Program with the
goal of supporting foster children and
has expanded it to not only enhance
that vision but also to incorporate
an added community service focus
each month.
These honorees exemplify the spirit
of community banking, one that we
carry with us in our everyday actions
on behalf of our communities.
Community banks stand out in
today's financial services space
because our business model depends
on an ecosystem where the bank only
benefits when customers do. That's
why ICBA focuses much of our work
on telling those stories to legislators
and regulators, making sure they
understand how community banks
show up for their communities. They
need to see that we take care of those
we serve.
That's why I can say with confidence
that no matter the regulatory
pressures that come to bear, we will
continue to thrive. And because we
lead with a spirit of service and a
focus on doing the right thing by our
customers, our communities will
flourish as well.
Connect with Rebeca @romerorainey
Where I'll be this month
I'll be attending the Community Bankers of Georgia Annual
Convention and continuing to advocate for community
banks here in Washington, D.C.
independentbanker.org Q 7
Photo by Chris Williams
http://www.independentbanker.org
Independent Banker - September 2022

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