October 2019

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

According to the 2017 Norton Cyber Security Insights Report, 143 million U.S. consumers were victims of cybercrime — more than half of the country’s adult online population — with losses totaling nearly $19.5 billion. In recognition of National Cybersecurity Awareness Month in October, the Virginia banking industry is highlighting tips and information to help consumers protect themselves from such cyber-attacks.

Last week, the VBA sent a press release featuring tips for safe banking online and being more cybersecure that was featured in the Augusta Free Press. We encourage our banks to customize this press release and send it to your media contacts. We have also developed social media images for your bank to use on your Twitter, Facebook and Instagram platforms. The VBA will be sharing these images as well as tips from the press release over the next few weeks. Be sure to follow the VBA on social media (@vabankers) for updates! You can download the customizable press release, tips and images here.

Bankers On The Move & Recent Promotions

Atlantic Union Bank
Alison Holt-Fuller – Head of Product Management

Bank of Botetourt
Pamela Harris – Bank Secrecy Act and Fraud Officer
Ginny Hicks – Assistant Market Manager
Lisa Pledge – Assistant Vice President, Loan Documentation and Compliance Manager, CRA Officer
Paula Robins – Branch Manager
Robin Stultz – Branch Manager

Benchmark Community Bank
Becka Green – Relationship Banker
Nicole Martin – Senior Vice President, Deposit Administration
Tabitha Poore – Senior Vice President, Accounting Officer
Tammy Robinson-White – Assistant Vice President, Roving Relationship Banker

First Bank & Trust Co.
Jonathan Comer – Senior Vice President, Commercial Loan Officer
Susan Upshaw – Vice President, Agricultural and Commercial Lending

MainStreet Bank
Alex Vari – Vice President, Chief Accounting Officer

Oak View National Bank
Jason Brady – Vice President, Market Leader

Old Point National Bank
Susan Ralston – Chief Operating Officer

Taylor Bank
Cindy Meyer – Human Resources Manager

The Farmers Bank of Appomattox
Tom Rasey – Senior Vice President, Operations Officer

Matthew Davis – Chief Strategy and Risk Officer

Delta Dental of Virginia
Computer Services Inc
Industry News & Trends
In recent years, the emphasis for most financial institutions has been on increasing the functionality and features of mobile banking applications, but moving forward that focus should shift to providing a better UI and contextual advice through mobile devices. (The Financial Brand)
As Q4 2019 approaches, it is the perfect time to reflect on some of the lessons learned this year. In particular, there have been lots of changes in Fair Lending compliance. Here are the five Fair Lending lessons learned in 2019. (N Contracts)
A new ABA research study determines how banks are now managing social media in 2019—what they’re doing right and what obstacles still persist. (ABA Bank Marketing)
If you want a more innovative bank, it starts, and largely stops, with what your approval process looks like for new technology. In fact, your innovation process has to be agile if you want an agile bank. (CenterState Correspondent Division)
Gen Z is veering into the world of student loans, first apartments and financial burdens — and they’re hungry for help in figuring it all out. Three out of four recent high school graduates said they wish a class on personal finance had been a mandatory part of their education, according to a recent Experian study. (Bloomberg)
Even when leaders make an effort to collect robust feedback, they only access about 25% of its potential value. This is because the process often stops too soon. This article explores how leaders should respond once they receive employee feedback. (Harvard Business Review)
From VBA Partners
Institutions need to ensure that both risk assessment and independent audit are thorough and well-documented. In this article, VBA Endorsed Provider TCA explains how banks can best prepare for a regulatory exam.