Pub. 2 2021 Issue 2

9 ISSUE 2 | 2021 Jim Reber (jreber@icbasecurities.com ) is president and CEO of ICBA Securities, ICBA’s institutional, fixed- income broker-dealer for community banks. shorter-duration fixed-rate credits. Community banks’ asset/liability positions are built for rising rates. Do: Stay on top of your portfolio’s effective duration to put your mind at ease about all of the above. We have seen this important barometer of price risk really whipsaw over the last year. At last look, most portfolios had returned to their pre-pandemic durations of around 3.0 years, but that’s taken a lot of buying of a lot of longer-maturity bonds to get there. In mid-2020, they had shrunk, on average, to about 2.5 years. That’s a 20% increase in two quarters. Maybe: Invest in some bond education for your staff and you. As the economy (and travel) begins to open back up, there will be a whole range of investment school options available, some virtual, some live, some hybrid. There is also plenty of archival information that’s been accumulated over the last year as trade associations, brokers-dealers, and consultants have figured out digital delivery channels. So ask around your providers for offerings that may suit your needs. And by all means, do continue your due diligence and documentation of your actions. Investment portfolios have grown remarkably in the last year. They are likely to be a substantial driver of bank profits for the foreseeable future.  2021 ICBA Bond Academy Announced ICBA Securities and its exclusively endorsed broker Vining Sparks will present the ICBA Bond Academy this spring. This virtual program, scheduled for April 19-22, is designed for the entry-level portfolio manager. Attendees will learn the fundamentals of fixed-income products and strategies. Up to eight hours of CPE credit are offered. For more information visit www.icbasecurities.com . Together, let 's make it happen.