Pub. 17 2020 Issue 4

4 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 N E W M E X I C O R E A L I Z E D R E A M S New Mexico banks are again at the forefront in providing our customers access to the second round of PPP loans. As of Feb. 1, New Mexico has a loan count approval of 3,557, totaling $343,539,227.00. Not bad! PRESIDENT’S MESSAGE JASON WYATT NMBA PRESIDENT 2021: NEW YEAR, NEW CHALLENGES I want to wish everyone a belated Happy New Year. I think most of the nation was looking forward to putting 2020 behind us more than any other year in my lifetime. In my personal opinion, 2020 was one the most absurd, danger- ous and eye-opening years in our nation’s history-a real train-wreck. I think we have all learned valuable lessons during this most difficult time and can only look forward to better times in the future. This being my first President’s article of 2021, it is a perfect time to reflect on where we have been and where we are heading. Most of us had never heard of or even thought about the term “Essential Business” until the COVID pandemic of 2020. Most bankers have always been aware that banking and access to currency is a vital part of the Amer- ican economy. After health, an individual’s finances and access to those finances are crucial in obtaining other basic necessities such as food, shelter and transportation. Although we get little credit, banks played a major role in our economy surviving 2020. I believe banks and bank employees should be counted amongst the real hero’s of 2020. Without the banking industry and our aid delivery systems used to provide financial safety nets, our entire economy might have potentially collapsed. Even faced with the challenges of constantly closing and re-opening of our lobbies, installation of Plexiglas and other PPE, establishing new health policies and procedures, manda- tory quarantines, etc., we were able to go above and beyond in meeting the needs of our customers and providing much need- ed financial aid to our communities. We accomplished all of this in addition to our normal daily duties as bankers. Our industry’s biggest success story of the past year has been the execution of the Pay - check Protection Program (PPP). Despite the haphazard way this programwas implemented by the Federal Government, NewMexico bank - ers worked tirelessly to ensure our custom- ers received the assistance they desperately deserved and needed at the time they needed it the most. NewMexico banks are again at the forefront in providing our customers access to a second round of PPP loans. As of Febru - ary 1, NewMexico had a loan count approval of 3,557, totaling $343,539,227.00. Not bad! Once again, outside of the health sector, New Mexico banks are arguably doing more for the people of our state than any other entity or government organization. Another major turning point in our nation since our last article was the election of a new President, Joe Biden. The 2020 campaign and election can only be described as one of the most negative, frustrating and damaging in the history of our country. We experienced the largest voter turnout in history resulting in Democratic control of the U.S. House, Sen- ate and Presidency. Democrats last controlled the House, Senate and White House from 2009-2011, when the American Health Care Act (AHCA) and Dodd-Frank were passed into law. What can we expect as an industry from a Biden presidency? I can only speculate that this administration will be very similar to the Obama-Biden administration of 2009-17. The Obama administration featured historical increases in oversight and regulation com- bined with historically low interest rates. All we can do at this point is stay involved and wish for the best. As far as New Mexico is concerned, our state Legislature has been in session since Visit our website at: www.nmbankers.com