The banking franchise model is under relentless assault from multiple directions. Banks face a regulatory tsunami at the federal level, initiatives to direct and restrict banks at the state level, and competition from untaxed and unregulated competitors. Meeting these challenges as an individual bank is a Herculean task at the very least. Banks in West Virginia have, for decades, shown remarkable resilience in facing constant and sometimes rapid changes to the banking environment. A critical factor in achieving that resilience is the banking culture in the state. Bankers, by nature, tend to blend fierce competitive instincts with fundamental desires to build communities, seek cooperation, achieve fairness and help their neighbors and colleagues. This blend is especially prevalent in the West Virginia banking community. Perhaps it is an extension of the kindness and consideration that West Virginians generally display. West Virginia bankers have long promoted competition while working cooperatively to ensure that all West Virginians have access to quality banking services, improve communities, advocate for sensible and moderate regulation, promote fairness in financial services, educate bankers, share best practices for operations and compliance, and adapt to change at an accelerated pace. We see evidence that this culture of competition and collegiality continues to manifest itself. Attendance at live industry events such as the association convention and legislative day has substantially increased each year since we emerged from the pandemic isolation. We see bankers volunteering to work cooperatively to help regulators in crafting state rules, making personal contributions to WVBankPAC, guiding advocacy to support and protect the industry, and contributing wisdom to help provide meaningful and efficient banker education opportunities. Each bank in West Virginia is stronger as a result of contributing to the collective industry health. The Association team is proud to be part of our very special banking culture and is committed to finding innovative ways to help sustain its positive impacts on our industry, individual banks, bankers and the state of West Virginia. PRESIDENT’S MESSAGE MARK MANGANO WVBankers President & CEO West Virginia’s Banking Culture is a Competitive Advantage 5 West Virginia Banker
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