Chairman’s Message EMBRACING THE FUTURE Joe Witt, CPA Chair, VACB Fellow Community Bankers, As this year progresses, I have an increased enthusiasm for the future of community banking in our wonderful Commonwealth and for the Virginia Association of Community Banks. While the last 18 months have been a very challenging time for community banking, we now see a light at the end of the tunnel. This is good news for our communities, our customers, our employees and our shareholders. And what we all recognize is that community banking is needed now more than ever in our history. Years ago, I hosted an afternoon with about 50 Chinese students, their professors and interpreters from Shanghai University through an exchange program with Christopher Newport University. They were fascinated by, and very critical of, our decentralized banking system. They could not understand why all flow of capital was not controlled by a central government. What I told them, and I truly believe today, is that the United States would not be the greatest economy in the world without a decentralized, community banking system. We are the only country in the world that boasts a vast community banking system that provides local capital to entrepreneurs and small businesses. These are the businesses that employ almost half the workers in the United States. These are our customers, and I am proud to serve them. I am excited about the future of the VACB with its undiluted and unapologetic advocacy for community banking. About a year ago, Steve Yeakel announced that he would be retiring as CEO of the VACB at the end of 2024. Steve has done a fantastic job leading our association. His skill with advocacy at the state and federal levels has been outstanding. Steve, we will miss you, and your legacy will live on. Thank you for your commitment to community banking, for your leadership of our association and for your friendship. In 2024, your board of directors, and especially the search committee selected by the board, have been extremely busy searching for the VACB’s next CEO. After hundreds of hours of 4 The CommunityBanker
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