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 8 CEO FORUM Don Musso, FinPro, gave a talk on wholesale change in banking. The Mark J Lindquist Big Band brought Las Vegas style entertainment to the Broadmoor. Trent Fleming, TF Consulting, presented on changes in technology beyond the back office. F OR THE 32ND consecutive year, The Broadmoor in Colorado Springs was the site of KBA’s CEO and Senior Management Forum/Annual Meeting. The afternoon of Thursday, August 4th began with bankers registering and familiarizing themselves with the new conference mobile app. This year was the first year that an app has been used in an effort to provide convenience to attendees. 2015 – 2016 KBA Chairman Bob Leftwich welcomed the conference participants and gave opening comments before introducing Esther George, President of the Federal Reserve Bank of Kansas City. President George offered comments on the economy and addressed many issues that weigh heavily on bankers’ minds. She does not think our current economy warrants high interest rates, but is concerned that if we wait too long to raise rates it will mean a need for rapid adjustments later. She covered topics ranging from the ambitious effort to modernize the payments system, to how long cash flows can cover operations in agriculture, noting that unlike the 80’s ag crisis, farmers now have equity. She closed with comments on central banks noting that one quarter of the world’s GDP is experiencing negative interest rates. As the US is the world’s largest economy, “expect that there will be bumps along the way.” A Washington Update was provided by Dorothy Savarese, ABA’s Chairman-elect. Ms. Savarese stressed the criticality of small banks and small businesses in small communities. Her goal is to encourage the engagement of bankers at all levels, from tellers to CEO’s, and she noted that engagement is everyone’s responsibility. The ABA has a new program specifically designed for this purpose called POWER UP. She encouraged bankers to bring a Legislator to work so that they may see our pain points, paperwork issues, and how regulations affect our customers. Additionally, she encourages bankers and their staff to be involved in advocacy by joining a PAC, noting that advocacy is critical to our industry. She wrapped up her presentation by reminding us that as bankers, “we partner with our customers and communities to help them reach their goals.” Stephen Hayes, Political Analyst and Senior Writer for The Weekly Standard presented The Political Landscape in Washington: What’s Ahead? He gave a history of “unfavorable views” of the current Presidential candidates and noted that Trump and Trumpism seems to have permeated all areas of our culture. Mr. Hayes feels that there has been an intensifying loss of faith in government, particularly in the Obama administration, who initially gave a directive to “restore faith in government.” Polls show that there is, in fact, less faith in the government now than in the days of the Watergate scandal. The erosion of faith has been deepened by Benghazi, NSA surveillance, stimulus efforts, and issues with Obamacare. Mr. Hayes commented that the two main things that have made the Presidential race more of a competition in the last month are the FBI not indicting Mrs. Clinton over her emails, and the hack of the Democratic National Convention emails. He concluded his talk by giving a preview of three scenarios that could play out in the Presidential race over the next one hundred days: one traditional, one non- traditional, and one worrisome. Thursday concluded with an outdoor reception on the Mountain View Terrace, which was enjoyed by all, despite a few chilly raindrops! Friday morning began bright and early at the Broadmoor West Golf Course, with a breakfast followed by a 7:30 a.m. shotgun start. While the threat of rain had loomed in the forecast, the golfers were instead treated to a slightly overcast morning resulting in cool mountain breezes and a beautiful day for golf!