Pub. 5 2016 Issue 7

l e a d i n g a d v o c a t e f o r t h e b a n k i n g i n d u s t r y i n k a n s a s 10 KBA Past Chairman Bob Leftwich, Impact Bank, welcomed KBA Chairman Jim Hoskins, Baxter State Bank, to his new role during the annual meeting. Esther George, President of the Federal Reserve Bank of Kansas City, Neil Milner, Conference of State Bank Supervisors, and Judi Stork, Office of the State Bank Commissioner. Political Analyst and Senior Writer for The Weekly Standard Stephen Hayes presented on the political landscape in this election season. Ken Farmer, from the popular television series Antique Road Show, spent some time talking about appraising fine art and antiques and how to get rid of our “stuff”. Bob’s “Uncle Bob” PAC hat). Bob then passed the gavel and welcomed incoming chairman for 2016 – 2017, Jim Hoskins, from Baxter State Bank in Baxter Springs. Jim spoke briefly on his hopes for the next year during his time as chairman. Jim recognized Ron Johnson, Community National Bank, Seneca, as chairman-elect and Lynn Mayer, Citizens State Bank, Marysville, as treasurer. With no other business to be conducted, Chairman Hoskins adjourned the annual meeting and welcomed attendees to join him for the last two general sessions. Senator Jerry Moran provided us with a legislative update that provided insight to his views on Washington. The Senator stated: “If we want good things to happen, it’s our community bankers that are going to make it happen.” He commented that the struggles we face as bankers need to be viewed at the government level as not being about banks themselves. It needs to be about the people we serve. Senator Moran hopes that with the new Senate, President, and House that we can find new common ground on issues going forward. Rounding out our conference was Lindsey Piegza, Chief Economist for Stifel. She noted that while the Fed raised rates last year for the first time in nine years, anticipating that the economy would gain speed in the following months, the Fed also acknowledges the uneven pace of the economy. Improvement in the labor market also remains an uncertainty, despite the over 500,000 new jobs created in the last two months. We must be careful about giving too much credence to only two months of data. Ms. Piegza stated that Brexit will continue to impact uncertainty, since this was an unprecedented event causing runs on the pound and reduced property values in London, to name just two issues. We are watching to see if this may tip the UK economy into recession. She also stated that in past election years, the Fed has both reduced and increased rates; however, there is a hesitancy to adjust policy right now. She concluded that consumers will have to reign in spending during the 4th quarter, but the silver lining in the economy is that the housing market is recovering, and she anticipates GDP to remain positive. Chairman Hoskins ended the conference by thanking everyone for attending, and reminding everyone to mark their calendars for August 3 – 5, 2017 for next year’s CEO Forum to be held once again at the Broadmoor in Colorado Springs. Continued from page 9