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Virginia Banking February eNewsletter
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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.
Bankers On The Move & Recent Promotions
Bank of Botetourt Bank of Clarke County Benchmark Community Bank Carter Bank & Trust Chesapeake Bank First Bank & Trust Company First National Bank FVCbank Taylor Bank TowneBank Union Bank & Trust VisionBank (in org) 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.
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.
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