VACB 46th ANNUAL CONVENTION COVERAGE OCTOBER 1-3, 2023 HOTEL ROANOKE & CONFERENCE CENTER VACB members gathered at Hotel Roanoke in early October for its annual meeting and trade show with our Associate Members. Attendance was robust, and members were excited to gather in Roanoke and enjoy time together while bringing VACB’s formula for convention success to life. The VACB annual convention works on a three-pronged process — focusing on trends in the banking environment, exposure to the latest offerings from our Associate Members and great networking opportunities throughout our time together. The two Business Sessions were on target with valuable information, insight and inspiration. The Monday session began with the annual business meeting, where the election of officers and directors was held. Also, 2023 Chairman Jay Stafford and President Steve Yeakel presented an update on the developing VACB’s future and its plans to start recruiting a replacement for Steve when he retires at the end of 2024. Up next was an economic overview presented by Lauren Henderson from Stifel, who provided an overview of the economy and touched on inflation and the continued pressures on housing and labor markets. She also shared how Virginia compares to the rest of the nation in economic terms. Our next presenter, Dan Gonzalez with the Federal Reserve Financial Services, provided a high-level overview of the FedNowSM system and how the instant payments infrastructure, which was launched in July, will modernize the U.S. payment system. Gonzalez shared that by using the Federal Reserve’s system, banks of all sizes will be able to offer customers the ability to send and receive money in real time around the clock, 365 days a year. Our Monday Business Session concluded with Traci Brown, a nationally renowned body language expert, for her session on unlocking what faces say in various situations. Due to an unavoidable audio-visual glitch with the hotel, Traci had to shift her original session. Hopefully, we will see Liar, Liar, Pants on Fire at a future event. Monday afternoon, attendees had the option to have the afternoon to explore Roanoke on their own or join their peers for a group outing. Those who chose the latter gathered at The Vault Restaurant for a networking lunch. The Vault Restaurant is in The Liberty Trust Hotel, which is in the historic former First National Bank headquarters and the bank’s original vault is now home to its restaurant. Lunch was an eclectic menu of small plates and tapas, craft cocktails and fun all around! Monday night at the Chairman’s Celebration, attendees gathered for a relaxed evening of bankers, bluegrass and boots. The event began with dinner and then the passing of the gavel. Jay Stafford was honored for his past year at the helm of the association, and he then passed the gavel to our 2024 Chairman, Joe Witt from The Old Point National Bank. After dinner, the night was open for a great time to be had by all! Attendees had their pick of fun events, including bourbon and cigars, listening to our live bluegrass band, dancing or playing one of the many games, which included ax throwing, available to attendees! It was all about fun and fellowship Monday night as we celebrated our 2023 Chairman, Jay Stafford. Tuesday’s breakfast began the day and featured a legislative update presented by VACB’s own Steve Yeakel. Our second Business Session began with a lively presentation from ICBA Chairman-Elect Jack Hopkins. Jack shared fresh updates on the latest developments in Washington, D.C., and provided a review of priority issues that ICBA is tackling on behalf of its community bank members and how ICBA is continuing to “build the brand” of community banking. He also urged attendees to connect with ICBA and put their voluminous array of products, services and ICBA’s advocacy efforts to use at their community banks. Our next session featured Franz Gilbert from Deloitte Consulting, who shared his thoughts on emerging technologies, including artificial intelligence (AI) and 10 The CommunityBanker
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