Independent Banker - April 2024 - 5

FLOURISH
Why the community bank
story matters in advocacy
s we enter Community Banking
Month, I am thrilled to honor
the ways community banks step
up to champion the needs of their
communities. Whether it's through
personal interactions or modern-day
conveniences, community banks hit
that sweet spot where relationships
meet today's technology to provide
unparalleled support to the customers
and communities they serve.
No other financial entity comes
close to offering the high-tech, hightouch
relationship that's integral to
who we are as community bankers. It's
not just about the deposits deployed
in the form of loans, the contribution
of thousands and thousands of dollars
to the community or the countless
hours spent supporting local families
and businesses. It's a combination of
them all.
A
consumers in their communities.
Community bank stories also
demonstrate why legislators
and regulators can't paint with a
broad brush across the financial
services landscape. Our ability to
differentiate ourselves and explain
our relationship-based approach
shows who we are as businesses and
how we prioritize customer needs.
This storytelling pulls concepts out
of the theoretical into reality. When
you can demonstrate how these topics
affect the lifeblood of the community,
it's transformational.
These traits make it such an
amazing industry to advocate for,
because we are simply asking for
what's right, so community banks
can continue to work for the common
good. And therein lies the difference
that policymakers need to understand.
When we share our personal
stories with legislators on Capitol
Hill or with rulemakers, we make
it real for them. The community
bank story takes what may be
an academic theory, rulemaking
concept or well-intentioned
law-in-the-making and ensures it's
relatable on an individual level.
It plainly demonstrates where
emerging regulations may have
merit or pitfalls and how they
will actually affect businesses and
For instance, our ability to convey
how community banks differ from
Silicon Valley Bank and other
failed large banks enabled us to
effectively advocate to keep most
community banks out of the FDIC
special assessment. We made it real
for regulators, ultimately ensuring
that the rule was being written to
differentiate community banks from
the rest of the industry-because we
are inherently different.
So, it's with a spirit of community
bank pride that I invite you to share
your story during Capital Summit
(icba.org/capital-summit) in
Washington, D.C., from April 28
to May 1. Seize this opportunity
to ensure legislators recognize the
community bank difference. In
the meantime, take this month to
celebrate all that you do. In the
eyes of all who know your story, it's
well earned.
Connect with Rebeca @romerorainey
Rebeca Romero Rainey
President and CEO, ICBA
" [Community
bankers'] storytelling
pulls concepts out
of the theoretical
into reality. When
you can demonstrate
how these topics
affect the lifeblood
of the community, it's
transformational. "
Where I'll be
this month
I'll be heading to Memphis for
meetings with ICBA Securities
and state partners, and then I'll
be attending the ICBA Capital
Summit at the end of the
month. I hope you will join us!
independentbanker.org // 5
Photo by Chris Williams
http://www.icba.org/capital-summit http://www.independentbanker.org
Independent Banker - April 2024

Table of Contents for the Digital Edition of Independent Banker - April 2024
