VBA Banker Day: January 12th from 10:00-11:30 a.m.

Registration is open for the 2021 Virtual Banker Day on January 12th from 10-11:30 a.m. While we cannot be in-person this year meeting with General Assembly members at their offices, this is your chance to join bankers from across the Commonwealth to hear directly from state policymakers and learn about the issues impacting banking in the 2021 General Assembly session. Our program will begin with keynote remarks and a session preview from a top state government official. A legislative leaders panel discussion, a VBA issues briefing, and an election analysis and preview from Dr. Daniel Palazzolo, Professor of Political Science and Associate Dean at University of Richmond - Department of Political Science, will follow. You also will learn about an opportunity to engage in direct grassroots advocacy with your local state legislators at the beginning of the legislative session. Learn more and register for this free event here. 

VBA/VA Chamber Financial Forecast: January 14th from 10:00-11:15 a.m.

The VBA and the Virginia Chamber of Commerce are again partnering to host a Virtual Financial Forecast on January 14th. Now in its tenth year, this is the premier event of its kind, attracting hundreds of members of the business community at the first of the year to learn what lies ahead for the state and national economy. Speakers to include:
     • Economic Update | Economist TBD, S&P Global
     • What Happens Next? Looking Backwards to See Into the Future | Mark Zinder, Mark Zinder and Associates

Learn more about the event, individual registration and sponsorship opportunities here.

Visit our event calendar for a comprehensive list of 2021 training opportunities and virtual events. We look forward to serving you in the new year!

American National Bank & Trust Company
Lutheria Smith – Chief Human Resources Officer

South State Bank
Tim Duffee – Senior Vice President, Commercial Banker

Southern Bank and Trust Company
Ben Ellington – Williamsburg City Executive

Virginia Partners Bank
Wallace King Sr. – Greater Fredericksburg & Maryland Market President
Adam Nalls – Executive Vice President & Chief Operating Officer
David Talebian – President

During the COVID-19 pandemic, most businesses have adopted new ways of working. Many employees have gone remote, interacting with customers and coworkers virtually. Others continue to go to a workplace each day, but perform their jobs very differently. So how productive have companies actually been during the pandemic, relative to where they were before COVID-19? (Harvard Business Review)

By now, bankers are quite familiar with the Community Reinvestment Act, which encourages depository institutions to meet the credit needs of low- and moderate-income neighborhoods. Due to the ongoing pandemic, small businesses are struggling. But while large corporations and online businesses have largely weathered various restrictions, small businesses continue to face challenges as we brace for what experts are calling a third wave of infections. (Banking Exchange)

Banks may look back on 2020 as an unprecedented opportunity to build their market share. In addition to fine-tuning client acquisition efforts to find the right new business opportunities, banks need to take a closer look at their own client roster to understand where pockets of risk exist. The importance of this work will likely elevate risk management teams within banks, expanding their importance and influence. (ABA Banking Journal)

Small business owners and managers have never seen anything like the COVID-19 recession. What many need, however, goes beyond credit and includes easy-to-use digital access and relationship managers who truly understand their company. Shining during the Paycheck Protection Program was great but it won't carry you through the pandemic by itself. (The Financial Brand)

This year has presented bank management teams with a multitude of issues to juggle, many of which seemingly pull in opposing directions, and most of which were not firmly on the radar to start the year. Such is life in 2020. According to this article from VBA Associate Member Piper Sandler, some banks’ primary concerns stem from the fact that the industry has seen a shift in liquidity.

2020 has introduced an immense amount of uncertainty and change to an already complex and evolving commerce landscape. Although it is difficult to predict behavior trends, according to VBA Endorsed Provider TSYS, many signs are currently pointing to a fundamental, indefinite change in how consumers want to transact, including an acceleration of the shift from cash to digital forms of payment moving forward.