Independent Banker - April 2020 - 30
PORTFOLIO
Portfolio Management
By Jim Reber, ICBA Securities
To the corner off ice
The bond portfolio fires back a reply to the community bank president.
Dear Community Bank President,
Thank you for your kind letter this past month. It
has been a crazy four weeks, which has delayed
my response, so I appreciate your understanding.
In fact, one of the best things about working so
closely with senior management is that you know
just as well as I do when things are in fl ux. It's
been a while since a health scare threw the fi nancial
markets into a frenzy, but you do remember
what happened back in 2003 with the SARS
30 Q ICBA Independent Banker Q April 2020
outbreak: My market value fi rst improved in a
fl ight-to-quality rally, then dropped after the
scare was contained. Let's hope this will be part
of our 2020.
I realize I'd been on the back burner for the
past several years, but it wasn't really necessary
to apologize for the perceived lack of attention.
As long as the senior lenders and quality control
folks are doing their jobs, what's good for them
is good for the bank and ultimately good for me.
I remember a few hiccups back in 2008 when
Jim Reber, CPA,
CFA (jreber@
icbasecurities.com),
is president and CEO
of ICBA Securities,
ICBA's institutional,
fixed-income
broker-dealer for
community banks
Independent Banker - April 2020
Table of Contents for the Digital Edition of Independent Banker - April 2020
Table of Contents
Independent Banker - April 2020 - Intro
Independent Banker - April 2020 - Cover1
Independent Banker - April 2020 - Cover2
Independent Banker - April 2020 - Table of Contents
Independent Banker - April 2020 - 2
Independent Banker - April 2020 - 3
Independent Banker - April 2020 - 4
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Independent Banker - April 2020 - Cover3
Independent Banker - April 2020 - Cover4
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