Pub. 9 2019-2020 Issue 3

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 September • October 2019 3 Call me at 320.759.8401 Based in Alexandria, Minn., serving Minnesota Commercial & ag participation loans Bank stock & ownership loans Bank building financing Business & personal loans for bankers As your partner, we share your values. You’ll find the community banking service, integrity and trust you’re used to. Why choose Bell as your bank’s lending partner? Jeff Restad Together, let ’s make it happen. Member FDIC 21097 We do not reparticipate any loans. 21097 AD Colorado Bankers Association 2019 Update_Jeff_V2.indd 1 3/11/19 3:43 PM 10 times at the state level and is working against rumors of an attempt by the Boulder city council, voicing concerns that such an entity puts public funds (tax dollars) and the important programs they fund, at risk. An acceptable proposal to create a state-sponsored family medical leave insurance plan. Last legislative session, a bill passed requiring the study of a mandated, state-operated family medical leave insurance program. In September, bankers – and their customers – had the opportunity to comment on a proposed plan. The Colorado Bankers Association and its members support paid medical leave, but a one-size-fits-all approachmay harmmany Colorado businesses. Handling this issue incorrectly could prove dam - aging to Colorado’s economy, Colorado’s health care industry and could prove costly to taxpayers. The REMI Partnership - which consists of the Common Sense Policy Roundtable, Colorado Concern, Denver South Economic Development Partnership, Colorado Bankers Associ- ation and Colorado Association of Realtors - sought to examine the impact of what it considered the most likely scenarios for a public-option health insurance plan. “Improving access and quality of care are goals that ev - eryone shares in the health-care policy debate,” said Kristin Strohm, president and CEO of the Common Sense Policy Roundtable. “It’s clear that a public option would ultimately cost Colorado. Someone has to pay the bill - either providers will cut jobs or Colorado businesses will face increased costs.” A full stop and study of CECL. The Financial Accounting Standards Board’s Current Expected Credit Loss impairment standard – which requires “life of loan” estimates of losses to be recorded for unimpaired loans – poses significant compliance and operational chal - lenges for banks. Issued in June 2016, and set to take effect in 2020 for large SEC registrants (2023 for all other banks), the new standard represents the most sweeping change to bank accounting ever. Bankers have called for a “full and indefinite delay” of the current expected credit loss standard to all companies, regard- less of size. Such a delay will help FASB and its constituents place themselves on the same page related to a sound imple- mentation of an accounting standard that, due to its impact on financial intermediaries, will have significant impact to all companies across the country. As 2019 draws to a close, each of us at CBA is thankful for the opportunity to support such a proud and integral industry in our state and our country. We wish our members the happiest of holidays and prosperity in the new year. n