Pub. 11 2021-2022 Issue 3-1

coloradobankers.org 2 A Word From CBA By Don Childears, CEO Colorado Bankers Association My 47-year Career: A Metamorphosis of Banking MY CAREER When asked to reflect on nearly 50 years of changes in banking and a few personal anecdotes, my first observation is that I’ve enjoyed a very good career: representing a great industry and terrific bankers in a turbulent political world. Most of you would hate that world; I loved it. Bankers are special. They build communities and our state and country and exemplify CBA’s motto: Helping Coloradans Realize Dreams. Starting at CBA in 1975 and then as CEO in 1979, I’ve spent 47 of my 71 years (2/3 of my life) at CBA, advocating for banking. I often joke about having the three most reviled professions: lawyer, lobbyist, banker. My heart is in advocating for banking. Banking has seen a phenomenal change of pace over my 47 years. Most of it was as unpredictable as the COVID shutdown. Change will continue – at a rapid pace. OVERVIEW Banking is a cautious industry advocating in a public policy world dominated by change advocates; we get little sympathy and significant distrust since banking is pervasive. I’ve seen Colorado change politically and economically; banking has had its ups and downs and endured and survived crises. The industry is now in good shape with goodwill, capital, and talent. But we’ve dealt with the good, the bad and the plain ugly. Political shifts in an increasingly caustic climate – driven by public attitudes about banks – have dealt with issues like ballot initiatives, Colorado’s in- migration, marijuana, and many other forces. Economically we’ve endured the miserable 1980s with multiple financial calamities, a residential mortgage fueled breakdown, technology’s impact, COVID’s effects, and more. Banking’s internal changes include adopting branching and interstate banking, seeing bank numbers rise and fall and their sizes increase, watching bank management shift significantly from owner/operators to hired management – decreasing the industry’s local voice with the public and public officials – and continual shifts in technology. PERSPECTIVE When I started, there were NO ATMs off bank premises. No branch banks, interstate banking, price competition for deposits (government rate restrictions prompted banks to give toasters, blenders, and electric blankets as premiums). We had no telephone banking, internet banking, mobile banking, large IT and compliance departments, funds transfers by Zelle … continued on page 4