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Where I’ll be
this month

I will be meeting with our subsidiary network boards, down in Atlanta with our ninth ThinkTECH Accelerator cohort, and attending the 200th anniversary of a member bank.

When it comes to community banking, we are a nation unto ourselves. When I traveled to the World Savings Bank Institute Conference, attendees from other countries were shocked to hear about the number of community banks we have and how our model fuels the success of our small business economy. Globally, no other country can boast such a robust business environment, one driven by nearly 35 million small and micro-organizations, according to the U.S. Small Business Administration, and enabled by our community banking model.

Small businesses are the lifeblood of our nation, but community banks are the fuel that keeps them running. This symbiotic relationship is the primary reason we advocate for regulations that allow for flexibility in serving this community. As the nation’s leading small business lenders, we know what these customers need, and we must have the ability to meet them where they are. 

Just think about a small seasonal business, like a ski shop, that has a really strong few months and a hard few months and that may not want or need the same terms as a grocery store that serves a community year‑round. When community banks are required to treat them both the same, it hinders our ability to serve them in a way that speaks to their cash flow and business models. 

So, when we advocate for repealing the small business data collection and reporting requirements under Section 1071 of the Dodd-Frank Act, we do it with our customers and communities in mind. We want to ensure that our hands aren’t tied when it comes to truly helping a customer meet the needs of the community. We need the space to be able to offer creative solutions that respond directly to customer needs. 

And we uniquely understand their needs, because we are small businesses ourselves—ones that are invested in the local community, doing business with other small businesses in the area and providing a network of connections to help others grow. It’s why the concept of “bank locally” resonates: Community banks don’t just support small businesses financially. We are also partners in helping them excel. (See icba.org/bank-locally for resources.)

So, as you read this issue, I encourage you to do so with a sense of pride. It’s because of your dedication, passion and ingenuity that small businesses thrive, and it is community banks that fuel our small business economy, paving the way for the American dream. That’s a value worth continuing to celebrate and protect.