2019-Septoct-Community-Banker
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INDEPENDENT COMMUNIT Y BANKS OF NORTH DAKOTA C OMMUNITY B ANKER NEWSLETTER Official Newsletter of Independent Community Banks of ND Sept/Oct 2019 Issue View convention highlights on our website. Click HERE. Sept/Oct 2019 Issue 1 The Community Banker PO Box 6128 ~ Bismarck, ND 58506 ~ e-mail: [email protected] ~ Phone: 701.258.7121Together ~ icbnd.com We Prosper Quick Look Inside This Issue: 3 Chairman & Presidents Remarks INDEPENDENT COMMUNITY 4 Associate Members Highlighted by Logos BANKS OF NORTH DAKOTA 5 Main Street Matters: Digital Payments: Defining Opportunities for Community Banks PO BOX 6128 6 Flourish Column: Rebeca Romero Rainey, ICBA President and CEO BISMARCK ND 58506-6128 7 From the Top Column: Preston L. Kennedy, Chairman of ICBA 8 Portfolio Management, Jim Reber, President and CEO of ICBA Securities 701.285.7121 9 ICBA News: Multiple 10 Innovation Station: Kevin Tweddle, INFO @ ICBND . COM Chief Operating Officer, ICBA Services Network WWW . ICBND . COM 11 Leadership at All Levels: Lindsay LaNore, Group Executive Vice President of Community Banker University 12-13 ICBA News: Multiple Senator John Hoeven 14-15 FDIC Compliance Newsletter: 338 Russell Senate Office Building “Adjustable Rate Mortgages— Disclosure Considerations”; “Lines of Washington DC 20510 Credit—Finance Charge Calculation Phone: 202-224-2551 and Disclosure” and “ Consumer Financial Protection Bureau’s FAQs Fax: 202-224-7999 about the TRID Rule” 16 Social Security Administration Legislative Aide: Tyler Hardy 18-19 Office of Attorney General: “Attorneys General Urge Administration to [email protected] Instruct Corps to Withdraw Proposed Water Supply Rule”; ‘Old Scams Still Finding New Victims”; and ‘ND Part Senator Kevin Cramer of Multistate Investigation into Google’s Business Practices” 400 Russell Senate Office Building 22-23 “2,000 Consumers Told Us Their Worst Washington DC 20510 Cybersecurity Fears” by Steve Sanders, CSI Phone: 202-224-2043 27 ND Trade Office: “SBA Awards ND Mobile: 202-981-1090 State Trade Expansion Program Grant” 29 ND Trade Office: “ND’s First Ethanol Focused Trade Mission Completed” Legislative Aide: Jason Stverak 30 ND Management and Budget: “ South Side of Capitol to Receive Upgrades”; [email protected] and “ Herrington Named Director of Leadership and Learning” 31 ND Trade Office: “More Than 100 Congressman Kelly Armstrong International Visitors Arrive for Big Iron International Visitors Program” 1004 Longworth House Office Building 32 ICBND Educational Opportunities: Washington DC 20515 Certified Frontline Professionals Fall Seminar Phone: 202-225-2611 33 CBIZ Wellbeing Solutions, September Fax: 202-226-0893 34-41 ICBND Members in the News 41 ICBND Classifieds Legislative Aide: Connor Crowley 42-43 ICBND Educational Opportunities: Webinars [email protected] 44 ICBND Directory & Our Advertisers Sept/Oct 2019 Issue 2 The Community Banker Together We Prosper Chairman’s Remarks Well, here we are, rolling off from a great markets we see on our main streets and the convention and now quickly looking into the fall. feeling people get when they buy local, we School has started and the harvest is on. This should remind our neighbors that they should time of year always makes me appreciate our bank local too. “Together we prosper” is still our North Dakota communities. We are all proud of motto at ICBND and community bankers work our state and the impact that it makes, especially together with their neighbors better than at this time of year when our farmers are anyone else. working hard to ensure the crop comes in. This all happens when we work together to make our Thanks for leading the example of “being local”. communities stronger. That connection to Main Street is what makes our industry great! Working together to make progress and accomplish the tasks at hand is what we are all Dave about at ICBND. It is a real privilege to be a David Mason community banker and I think we shouldn’t be First International bashful about it. We should be encouraging our Bank & Trust neighbors to do business with people who do Bismarck business with them. Just like the farmers’ ICBND Chairman President’s Remarks Hello friends! I’d like to say it’s been a beautiful through thick and thin. Undoubtedly, there will fall, but I’d be lying. Record rainfall and cold be some hardships as harvest drags way too far temperatures across much of the state are into the calendar. Cross your fingers for some creating a tremendous hardship for our warm, dry, windy October weather to help. And, agricultural producers as they try to get crops off thanks for everything you do! the field. After the rain event a couple weekends ago, I was visiting with a number of ag lenders Until next time, from both member banks and non-member Barry banks. One gentleman made the comment that there were significant challenges getting equipment TO the fields, much less getting IN the fields as several roads were washed out in that particular market area. This certainly isn’t what we needed September and early October to look like in ag country - Barry Haugen especially when you pile on the commodity price ICBND President and tariff-related issues. As I spoke with these community bankers though, I realized again how important relationship banking is to our rural state, especially in challenging times. Community bankers know their customers and are empathetic to the challenges of the times. Good times and rough times ebb and flow in any commodity-driven business, and community bankers have been by their ag customers’ sides Sept/Oct 2019 Issue 3 The Community Banker Together We Prosper Featuring some of ICBND’s Associate Members We appreciate our associate members and encourage all of you, our member banks when looking for a specific product or offering to refer to your associate members first to fulfill your growing community bank’s needs. Support those that support your association! Thank You! We truly appreciate your support and participation! Click Here for all Associate Members Sept/Oct 2019 Issue 4 The Community Banker Together We Prosper DIGITAL PAYMENTS: DEFINING OPPORTUNITIES FOR COMMUNITY BANKS The payments landscape continues to evolve. Whereas checks and cash were the dominant payments instruments 40 years ago, today digital payments are becoming an increasingly popular way to pay, and a driving force in the evolution of the relationship between customers and their banks. An estimated 2.1 billion consumers will have used a digital wallet by the end of 2019—up 30 percent from 2017¹. As such, community bankers should fully understand digital payments and the role they play in maintaining and growing your customers by continuing to meet and exceed their expectations. What are Digital Payments? “Digital payments” is an umbrella term to describe payments that are made using electronic instruments, such as mobile devices or laptops. Put simply, digital payments are transactions that are initiated without the use of a physical card or paper currency. Using this definition, digital payments can include: • online banking payments; • ACH/Same-Day ACH; • digital currency/cryptocurrency; • payments made with a digital wallet, e.g. Apple Pay, Google Pay (wherein the funding mechanism may be a physical debit or credit card, but it’s stored in a digital wallet environment); • payments made through digital apps, e.g. Zelle, Venmo, PayPal, Cash App (by Square) (wherein the funding mechanism may be a physical debit or credit card, but it’s stored in a digital app environment); and, real-time payments. Digital Payments Use Cases and Benefits Digital payments provide a host of opportunities for community banks to provide additional value to customers. With the introduction and growth of faster payments, digital payments opportunities and use cases have grown too. From personal to business clients, digital payments can provide convenience and efficiency while enhancing your overall position and value proposition. Following are a few examples of digital payments opportunities. Retail Payments Retail Payments Treasury Management Treasury Management Person-to-Person Consumer-to-Business Business-to-Business Business-to-Consumer → → → → Your Opportunity: Your Opportunity: Your Opportunity: Your Opportunity: Help consumer customers Allow your customers to make Ensure your debit and credit Offer your business customers a Ensure your business customers seeking to quickly and safely pay bill payments on or near the due cards are compatible with the user-friendly, fully integrated can pay their freelance family or friends using a mobile date through your online latest technologies, so way to ensure they can meet the employee base at the end of device by leveraging an existing banking channel or app by consumers can add your cards to payments needs of their diverse each shift with payment digital app or your online leveraging Same-Day ACH or their mobile wallets for easy and customer base by accepting options, such as real-time banking channel. real-time payments fast e-commerce and in-store multiple forms of digital payments and Same-Day ACH, transactions. payments, such as: and integrate with online payments platforms, such as • ACH, real-time payments, ICBA Bancard partners wire transfers, credit Linked2Pay and PayFi. cards, debit cards, mobile payments, and more. The Benefit: The Benefit: The Benefit: The Benefit: Meet the needs of your Meet the needs of your Earn the opportunity to be “top Position your community bank Enhance your business client customers who prefer to use customers who prefer to use of wallet” with your consumer as the one-stop shop for all your relationships by meeting the financial solutions offered by financial solutions offered by customers to garner a larger business customers’ needs, immediacy of the freelance their bank over nonbank their bank over nonbank share of the $2 trillion in-store building customer confidence, economy and providing services providers and keep the bank providers and keep the bank contactless payments projected loyalty and retention.