From the TOP

Jack E. Hopkins

ICBA Chairman
President & CEO, CorTrust Bank, Sioux Falls, SD

Translating advocacy into action

“We power the future, one local economy at a time, and we need members of Congress and agency leads to understand that.”

As I take on the role of ICBA chairman, I do so with humility, honor and pride in this industry and our mission as community bankers. Small businesses and agricultural enterprises are the engines that drive our economy, and community banks are the gasoline that fuels those engines. While small businesses provide most of our nation’s jobs, it’s community banks that stand behind them and enable a thriving economy.

Those are the facts, but all too often—and to the detriment of our communities—we encounter unbalanced regulation, disruptive rulemaking and policy decisions that hinder our work. In the face of these challenges, it is our duty to stand up and advocate on behalf of our customers and communities, because without us in their corner, they would cease to thrive.

That’s why we continuously work to ensure that those who hold positions of legislative and regulatory authority truly understand the community bank difference. Regulators and policymakers alike must recognize that community banks hold outsized roles in fueling small businesses and local economies, and what we do has a reverberating impact on the state of this nation’s economy.

Fortunately, this year, we’re seeing signs of a growing awareness of the community bank impact. From Congress listening and responding to calls for regulatory reform, to shifts in agency leadership that are leading to a fuller understanding of the importance of tiered regulation, opportunities lie ahead. This is our time to shine and stand up for our communities.

Because our voices matter. In fact, not too long ago I had a senator tell me, “If I don’t hear from you, I assume there isn’t a problem.” That was a call to action if I’ve ever heard one. We all need to be vocal this year and articulate how proposed legislation and regulation will affect not just our banks but also the consumers and small businesses we support.

So, I hope to see you and members of your team at the ICBA Capital Summit, May 12–15, in Washington. Legislators need to hear from every area of our banks to fully comprehend the trickle-down effects of unbalanced regulation and how they negatively influence our ability to address customer needs.

There’s more work to be done. We power the future, one local economy at a time, and we need members of Congress and agency leads to understand that. By coming together and vocalizing who we are and what we do, we can make a difference for our banks, customers and communities. At the end of the day, isn’t that our main mission?