The business of community banking is as complex and challenging as it has ever been, and the competitive landscape continues to increase for all of us. In this issue of Hoosier Banker, the IBA team has delivered a great edition full of insightful and helpful articles that will help us navigate the challenges ahead.
As I was writing this message, I received an email from a Lake City bank director interested in learning more about tokenized deposits and our strategy to remain competitive with our larger banks who are already delivering tokenized deposits to the client base. Guess what? We’ve got a great article from the American Bankers Association on tokenization! At Lake City Bank, tokenization has already been on the agenda of our Strategy and Innovation Committee and we are moving the product forward. As Indiana community banks, we have terrific resources available to us from the IBA, ABA and ICBA to assist in charting a path to competitive positioning for our banks with new and emerging products and services.
Also in this issue, take the time to read about the Take Your Lawmaker to Work grassroots initiative that the IBA introduced several years ago. As community bankers scattered throughout Indiana’s 92 counties, we have the luxury of strong relationships with our elected officials. They are our neighbors and friends, and we must collaborate with them to ensure that our representatives in the Indiana Statehouse recognize that Indiana community banks are the financial lifeblood of our state. While we may not have balance sheets as large as our bigger competitors, we are the heart and soul of Indiana banking and it’s important that they understand how committed we are to this state’s future.
The IBA team shares with me a summary of the articles and features that will be in the upcoming edition of the Hoosier Banker. It’s never a short list, and it’s always a reflection of emerging issues facing the banking industry. As I mentioned at the start of this note, the business of community banking is getting more complex and challenging. Thankfully, we have a focused and disciplined team at the IBA helping us navigate these issues. We also have a coalition of peer banks in the state that know how to row the boat in the same direction. Whether it’s tokenization or cybersecurity risk, we can always pick up the phone and call another Indiana community banker to discuss the latest issues on our to-do list. Hoosier bankers are always working together to advance the cause of community banking!
