Pub. 14 2023 Issue 2

Valley Bank. We used this as an opportunity to reassure our leadership that the trust in the banking system is high, and these failures were not due to a lack of governance by the Fed, but poor risk and liquidity management and lack of supervision on behalf of the San Francisco FDIC. We also discussed the effect of such fast rate increases and the unintended negative effects it was having on banks. Given the timing and the significance of the recent events, this was probably the perfect and most stressful time to be in D.C. as a banker. The Summit wrapped up on Wednesday with speakers Tim Scott (R-SC), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs; Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee; and Rob Nichols, ABA President all presenting hot topics and the future of banking. The Future Leaders Council is a great way for leaders at any bank to become more active under the umbrella of the West Virginia Bankers Association. Our current Chair, Jesse Bumps of Clear Mountain Bank, leads the Council in its mission to promote careers in banking, advocate for the banking industry, and oversee the emerging leaders’ curriculum. To help promote attendance, the Council created a $750 scholarship to help with the cost of attending the Summit, which pairs with a $750 ABA scholarship. Having an additional $1,500 for one attendee lightens the burden on the bank and allows those to attend that might not have been able to otherwise. Of the 11 attendees for this year’s Summit, six had ties to the Future Leaders Council, which is a testament to the importance of empowering the next generation of bank leaders and executives. The WVBA and the Future Leaders Council are committed to promoting careers in banking and advocating for the industry. Participation in events like the Washington Summit is a great way to achieve this mission. I encourage presidents and CEOs to identify individuals within their organization and promote their participation in groups like the Future Leaders Council, the WVBA and the ABA’s Washington Summit.  Bankers' Choice Certificates of Deposit 6 Month at $100,000 $1,000,000* Amounts of up to 5.00% 12 Month at 5.375% LOCK IN A GREAT RATE *Annual Percentage Yield (APY) is subject to change without notice. A penalty may be imposed for early withdrawal. Minimum deposit is $100,000 not to exceed $1,000,000 per EIN. Effective as of May 26, 2023. Brian Cayton, Community Bank of Parkersburg speaking at the ABA Panel 21 West Virginia Banker