Pub. 10 2020-2021 Issue 5

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S — H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S January • February 2021 1 ©2021 The Colorado Bankers Association is proud to present Colorado Banker as a benefit of membership in the association. No member dues were used in the publishing of this news magazine. All publishing costs were borne by advertising sales. Purchase of any products or services from paid adver- tisements within this magazine are the sole responsibility of the consumer. The statements and opinions expressed herein are those of the individual authors and do not necessarily represent the views of Colorado Banker or its publisher, The newsLINK Group, LLC. Any legal advice should be regarded as general information. It is strongly recommended that one contact an attorney for counsel regarding specific circumstances. Likewise, the appearance of advertisers does not constitute an endorsement of the products or services featured by The newsLINK Group, LLC. Don Childears CEO Jenifer Waller President Amanda Averch Director of Communications Brandon Knudtson Director of Membership Lindsay Muniz Director of Education Margie Mellenbruch Bookkeeper* Craig A. Umbaugh Counsel* Jim Cole Lobbyist* Melanie Layton Lobbyist* Garin Vorthmann Lobbyist* * Outsourced Amanda Averch, CBA Director of Communications, Averch@coloradobankers.org 140 East 19th Avenue, Suite 400 Denver, Colorado 80203 voice: 303.825.1575 — fax: 303.825.1585 Websites: www.coloradobankers.org www.smallbizlending.org www.financialinfo.org https://colorado-banker.thenewslinkgroup.org/ 8 10 16 January/February 2021 OVER A CENTURY: BUILDING BETTER BANKS — HELPING COLORADANS REALIZE DREAMS 12 PAGE How to Market and Grow Your Bank Online: Five Essential Steps to Go Digital 2 A Word From CBA: A Note From Our CEO as We Step Into 2021 3 Chairman’s Message: Diversity Helps Banks Meet Community Needs 4 FEATURE ARTICLE: BSA/AML Compliance Strategies in a COVID-19 Environment 6 Trying to Market in a Pandemic? See What the Experts Say 8 How CFIs Can Remain Relationship-Focused in a Digital World 10 FEATURE ARTICLE: Developing a Digital Banking Strategy to Serve Customers and Mitigate Risk 12 FEATURE ARTICLE: How to Market and Grow Your Bank Online: Five Essential Steps to Go Digital 14 AML/BSA Reform Is on the Horizon 16 Tactics for Navigating Tectonic Shifts in Liquidity 18 CECL Can Convert Purchase Credit Impaired and Impaired Loans 20 What Did We Learn From 2020 and How Will It Help in 2021? 21 COVID-19 Turns One: Lessons Learned From a Global Health Crisis