Virginia Banking February eNewsletter

The Virginia Banking eNewsletter is a monthly supplement to Virginia Banking magazine, intended to help you stay on top of industry knowledge via current trends data and insights.

From the VBA

Since 1950, the Graduate School of Banking at Louisiana State University (GSB) has been a major provider of advanced financial education in the United States. Over 15,000 executives have successfully completed the program, which is held each spring on the LSU campus in Baton Rouge. The School’s purpose is to fill the need for graduate level study, by bank officers and others meeting admission requirements, leading toward a broader knowledge and understanding of major banking functions. The faculty of GSB consists of experienced bankers, academicians, regulatory officials, attorneys and others who have expert knowledge of their subject areas and who have the ability to teach other professionals — including several faculty members of the Virginia Bankers School of Bank Management! In a recent article, LSU faculty member Michael Allen explores how to prepare for the next generation of problem loans.

GSB is a perfect next step for Virginia Bankers School of Bank Management alumni. You can learn more about the GSB program here. Applications for the 2019 sessions are due April 16, 2019. Please note, the application period for the Virginia Bankers School of Bank Management is open until March 29, 2019. You can learn more about the Virginia Bankers School of Bank Management here. Contact Courtney Fleming with questions.

Most Reciprocal Deposits No longer Brokered.
Promontory Interfinancial Network
Recently passed legislation—the Economic Growth, Regulatory Relief, and Consumer Protection Act—makes most reciprocal deposits no longer brokered. This means more deposits in local banks that can be used for local lending, bank growth, and community prosperity.
Learn more
Bankers On The Move & Recent Promotions

Bank of Botetourt
Barbara Anderson – First Vice President, Head of Compliance & Risk
Dustin Bays – First Vice President, Controller
Marty Francis – First Vice President, Head of Business Banking
L. Nicole Griffin – First Vice President, Head of Mortgage Lending
Paul Murphy – First Vice President, Head of Credit & Loan Services
Paula Rhodes – First Vice President, Head of Operations

Bank of Clarke County
Brennan Lloyd – Small Business Lender

Benchmark Community Bank
Mike Arthur – Senior Vice President, Chief Admin Officer
Billie Jo Bailey – Assistant Vice President, Branch Manager
Jenny Clark – Senior Vice President, Chief Human Resources Officer
Steve Creedle – Senior Vice President, Chief Lending Officer
Renee Dolan – Assistant Vice President, Accounting Officer
Michelle Jones – Relationship Banker
Todd Jones – Vice President, Business Banker
Lee Minix – Senior Vice President, Chief Credit Officer
Lisa Shepherd – Assistant Branch Manager

Carter Bank & Trust
Paul Carney – Senior Vice President, Director of Human Resources

Chesapeake Bank
Laurie Rowe – Assistant Vice President, Audit and Compliance

Community Bank of the Chesapeake
Benjamin Hall – Senior Vice President, Commercial Loan Officer

F&M Bank
Paul Eberly – Vice President, Agricultural and Rural Programs Leader

Federal Reserve Bank of Richmond
Jeff Deibel – Vice President, Community and Regional Safety and Soundness

First Bank & Trust Company
Mary Anne Hecht – Commercial and Private Banker

First National Bank
Christopher Gibson – Managing Advisor, Investment Program
Benjamine Giese – Financial Advisor

Sharon Ricciardi – Vice President, Director of Business Development

Taylor Bank
Kathy Allam – Director of Information Technology and Security
Lee Chisholm – Vice President, Loan and Business Development Officer
Raymond Robinson – Senior Vice President, Branch Operations
Yvonne Sample – Operations Supervisor, Electronic Services
Jennifer Scott – Assistant Vice President, Branch Manager, IRA and HSA Administrator
Lori Simon – Vice President, Branch Manager, CRA Officer
Lisa Street – Senior Loan Processor

Touchstone Bank
John Jones – Vice President, Market Executive

Maria Dickinson – Senior Vice President, Treasury Sales

Union Bank & Trust
Shawn O’Brien – Executive Vice President, Consumer Banking Group Executive

Virginia Commonwealth Bank
Afua Essandoh – Vice President, Financial Planning and Analysis
Bonnie Howle – Vice President, Treasury Management
Brian Lange – Vice President, Commercial Deposit Development
Lisa Sylva – Vice President, Deposit Operations Manager

VisionBank (in org)
Jennifer Bognet – Director
Nicole Geller – Director
Peter Nostrand – Director

Delta Dental of Virginia
Computer Services Inc
Industry News & Trends
A majority of retail bank customers said they want to receive financial advice from their bank, according to J.D. Power’s second annual study on retail banking advice released last week. According to the report, consumers were most interested in receiving investment-related advice and quick tips for improving their financial situation. (ABA Banking Journal)
In the boom years leading up to the Great Recession, about 100 startup banks popped up across the nation each year. But since 2009 there have been no new startup banks chartered in Virginia. It’s been virtually the same story nationwide, with only 11 new banks opening in the U.S. during the past decade. Here, Virginia bankers, including Brian Plum and John Asbury, and VBA President and CEO Bruce Whitehurst weigh in on this topic. (Virginia Business)
The latest edition of "Richmond Fed at a Glance" includes features on understanding the tight labor market and a survey of small businesses, as well as a discussion on economic growth with Tom Barkin, president of the Richmond Fed.
As digital payments rise sharply, traditional banking providers struggle to keep up. Here's what banks need to know to remain competitive in the year to come — everything from digital wallets to mobile P2P and GAFA (Google, Apple, Facebook and Amazon) threats like Apple Pay. (The Financial Brand)
Bankers need to periodically look inside the board room to identify strengths and weaknesses. Most community bankers who do this will see a group of people who are smart, dedicated, experienced and ethical — but maybe not so young, with less than 20 percent of all bank boards of directors including a director who is age 40 or younger. (Banc Investment Daily)
This episode of the Authentic Leader podcast features Village Bank President and CEO Bill Foster, discussing topics including how he helped lead Village Bank through the recession and what he sees as the hardest thing about leadership. (Authentic Leader)
The Fed has published the latest in a series examining economic and financial topics affecting consumers and communities.
In January, George Mason University President Ángel Cabrera spoke to members of the business community at the 2019 Financial Forecast in Richmond. Here, read his remarks about higher education and economic growth.
From VBA Partners
The government shutdown has ended for now, which is a relief to thousands of government workers. However, with another shutdown looming, many banks have asked in this period of uncertainty: "How can we help affected individuals?" Here, Rhonda Winters of VBA Endorsed Provider TCA (Thomas Compliance Associates, Inc.) shares some ideas.
Do we see the trends? For most of us, it is very difficult to see trends begin and know the point of inflection where the world will change forever. Here, VBA Endorsed Provider WolfPAC takes a look at how to best understand risk management trends by rolling five years back and five years forward.