CARSON, VA, UNITED STATES, 25th November 2024 — Community bankers around the country gathered in Washington last week to discuss the latest challenges currently facing community banks across the country, according to Will Clements, Chairman, President and CEO of the Bank of Southside Virginia (BSV).
Clements, who attended the ABA Community Bankers Council meeting November 11-13, said the bankers talked at length about public policy, operations and business issues that might impact the nation’s hometown banks and their communities.
“Community banks are such an important part of our financial industry’s infrastructure,” said Clements. “The strength and success of these banks have a great impact on the vitality of the communities they serve.”
Bankers had discussions on next year’s Administration change and how the banking industry may be impacted; legislative priorities, including the farm bill and tax reform; and regulatory priorities, including national bank preemption, the Federal Reserve’s discount window, overdraft fees and Section 1033 of the Dodd-Frank Act. Council members also had a chance to exchange ideas on ways to prevent and mitigate check fraud, manage net interest income and interest rate risk, attract and develop the next generation of bank leaders, and many other business and operations best practices.
The ABA Community Bankers Council, which meets twice a year, is made up of approximately 100 bankers across the country from institutions with generally less than $5 billion in assets. Members are appointed by the ABA chair.
As Chief Executive Officer and Board Chairman with nearly 20 years of experience in the banking industry, Clements employs a focused commitment to technology innovation and service excellence. He serves on numerous boards for banking and community organizations including the Virginia Bankers Association, Virginia’s Gateway Region Economic Development Organization, Richard Bland College of William & Mary and GO Virginia.
The Bank of Southside Virginia (BSV) is a nationally recognized, locally owned community bank that has focused on providing relationship banking services to Southside Virginia for over a century. BSV combines historical experience and success with a modern culture and a focus on innovation to strengthen its communities and help its customers achieve their financial goals.
