Virginia Banking April 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

This month, bankers across the state are celebrating Financial Literacy Month. In 2000, the Jump$tart Coalition for Personal Financial Literacy began promoting April as Financial Literacy Month. In 2003, April was declared as Financial Literacy Month for the first time by the U.S. Senate and Financial Literacy Day on the Hill was founded. The goal of Financial Literacy Month is to highlight the importance of financial literacy as an essential life skill.

As a part of the celebrations, the VBA has developed a Social Media Share Campaign featuring money management tips for all age groups. You can view a customizable press release, social media images and other resources to use in your communications channels this month here. The more bank participation, the stronger the message we can send about the integral role banks play in promoting financial literacy among youth, adults and senior citizens across the Commonwealth.

Bankers will also participate in Teach Children to Save (TCTS) throughout the month of April. Twenty-six Virginia banks are registered to make presentations to more than 10,000 students. TCTS will officially be celebrated this Friday, but bankers are encouraged to make presentations at any point during the year.
Follow the VBA on Facebook, Twitter and Instagram this month for more information and updates about financial literacy month. Contact Monica McDearmon with questions about this campaign or any of the VBA financial literacy efforts.

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

American National Bank & Trust Co.
Carolyn Compton – Vice President, Corporate and Shareholder Services

C&F Bank
Linnett Fortner – Portfolio Manager
Phil Hager – Senior Commercial Executive

F&M Bank
Barbara Bartley – Assistant Vice President
Jackie Burner – Vice President
Kay Dean – Vice President
Kelsey Dean – Bank Officer
Sharrie Harrison – Bank Officer
Jessica Luce – Bank Officer
Ashley McClure – Bank Officer
Donna O’Byrne – Bank Officer

MainStreet Bank
Bruce Gemmill – Senior Vice President, Chief Marketing Officer

Pendleton Community Bank
Monika Eckard – Vice President, Human Resources

Pinnacle Financial Partners
Candace Benson – Financial Advisor Assistant
Rob Mangus – Senior Vice President, Financial Advisor

Cameron Agricola – Vice President, Senior Commercial Portfolio Manager
Trish Gill – Vice President, Human Resources Benefits Manager
Nerissa Smith – Assistant Vice President

Computer Services Inc
Industry News & Trends
The future of retail banking is better defined than most traditional financial services executives want to admit. One key element: Consumers expect insights to be used to provide exceptionally personalized experiences. To thrive in this environment, banks must re-imagine their roles. (The Financial Brand)
The latest edition of "Richmond Fed at a Glance" includes a well-researched look at the urban-rural dichotomy, as well as insight from Bank President Tom Barkin, who discusses approaches for improving labor market outcomes in rural communities.
This BankThink essay shares the true business savvy behind one banker's stories of "failure" and how that humble advice can draw in loyal customers. (American Banker)
More than 60 Virginia bankers joined colleagues from around the country at last week's ABA Washington Summit. In this episode of the ABA Banking Journal podcast, co-hosts Evan Sparks, Shaun Kern and Joan Gregory Saenz review highlights from the Summit. (ABA Banking Journal)
Greatness comes in different forms. Think about the "Johns": He, and those like him, started with the bank in his youth and remained there for 20, 30 or 40 years until retirement. Leaving the bank would be like leaving his home. He grew up in the bank and the bank grew up with John. (Bankers Digest)
From VBA Partners
2018 was a rather exciting year for banking compliance, and in light of that 2019 has a lot to live up to. Here, Sarah Sauceda from VBA Endorsed Provider Compliance Alliance, shares thoughts on what to expect in 2019 and how to prepare your institution.