6 JULY / AUGUST 2020 One of the first lessons new drivers learn is to check the mirrors and adjust as needed for maximum visibility. Good drivers quickly develop the habit of routinely checking the mirrors, especially when facing challenging conditions such as rain, fog and nightfall. We are now experiencing challenging conditions on every front. As always, bankers continue to drive on forward, keeping in view the statistics, regulations and other data points needed to make informed decisions. It’s dizzying how much has happened since the last edition of Hoosier Banker. The previous Vantage Viewpoint was published in early May, when the world was deeply embroiled in the COVID-19 pandemic. Those who could work from home did so, and banks limited lobby access. Also at that time, Round Two of the Paycheck Protection Program had just begun, infusing another $300 billion into loan funds on top of the first round of $350 billion. In part because of revised guidance from the Small Business Administration, Round Two loan applications moved at a much slower pace than the first round. Within the Indiana Bankers Association, we followed pandemic guidelines and removed in-person events from the immediate calendar. Seminars and other offerings on premise were either rescheduled or converted to online gatherings. The Mega Conference, for the first time since its inception in 1992, was postponed. That was then. Take a look at where we are today. By the time you are reading this, Indiana is scheduled to be in the final phase of Gov. Holcomb’s Back on Track plan. Much thought and consideration, with input sought from multiple constituencies, went into drafting the roadmap for reopening Indiana successfully. We appreciate that the Indiana banking community was ably represented by Kristin Marcuccilli of STAR Bank, Fort Wayne, who served on the governor’s advisory team. We also have more recent Paycheck Protection Program statistics. Per SBA data available on June 27, Indiana banks assisted in completing 77,872 loans totaling $9,457,392,872 for Hoosier small businesses. Indiana bankers worked long and hard to process a huge volume of PPP loan applications, sometimes working through the night. Additionally since the last Hoosier Banker, our nation has received a favorable jobs report, despite the economic strain of the pandemic. The U.S. Bureau of Labor Statistics reported that total nonfarm payroll employment rose by 2.5 million in May, and the unemployment rate dropped to 13.3%. Though more progress is needed, we are moving in the right direction. A major change in our world since two months ago is that, worldwide, we are now experiencing heightened racial awareness. Multiple VANTAGE VIEWPOINT Don’t Miss Out! factors and events coalesced into an eruption of demonstrations around the globe advocating for justice and harmony. The situation is complex, but the message is clear. Issues of diversity and equity need to be seen and heard. Today, compared to two months ago, we collectively have greater empathy, increased understanding and a new resolve to seek and implement meaningful solutions. This is a topic we will be addressing for some time. Meantime on the IBA homefront, we are adapting to our new reality. Though we had to cancel the summertime in-person advocacy events – Regional Meetings and the Annual Washington Trip – the good news is that, for 2020, advocacy will carry on through virtual channels such as Zoom meetings. Our spotlight article on page 14 gives details about grassroots advocacy, with additional information being emailed regularly to grassroots bankers. We appreciate your advocacy support and urge you to continue to engage as the pandemic winds down. Some additional IBA news is that we are transforming this year’s Mega Conference and Annual Convention into a merged event called the “Mega Convention.” Scheduled for Nov. 16-18 in Indianapolis, this blockbuster gathering will combine the educational offerings of Mega with the official business of Convention. The future is coming, and we are ready. The cover story of this issue attests to partnerships between the IBA and institutions of higher learning to create banking studies programs in Indiana. This initiative is designed to bring future best-and-brightest talent to your bank. In the last issue, I thanked you for being helpers to the communities you serve. I’d also like to thank you for being the drivers of economic strength, leading Indiana into better days ahead. HB Amber R. Van Til President and CEO Indiana Bankers Association avantil@indiana.bank @grbanker FLD Leadership Conference Aug. 27-28 Emerging leaders build skills and strengthen networks at this premier FLD event. Banking on Women Conference Oct. 22-23 Women in banking gather to unlock potential and own the future. Mega Convention – New for 2020 Nov. 16-18 This year the IBA is combining the Mega Conference with the Annual Convention. For event updates, visit: indiana.bank/calendar
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