With 2021 in the rearview mirror, TBA looks ahead to 2022
The change of leadership in Washington, D.C. will continue to be a focused concern, especially with elections on the horizon that will dominate the discussion in the coming new year.
As we near the end of 2021 — year two of the global pandemic — and begin our bank planning for 2022, a review of some significant events seems appropriate. Banks are reviewing what worked, what didn’t work and what’s still in the process. This issue of Texas Banking reflects back on 2021 with an eye on 2022.
As I have heard many times before, we may have been done with COVID-19, but in 2021 it was not done with us. Traditionally bankers are methodical in making changes to operations or products. We did not have that luxury in dealing with the pandemic — things moved fast.
Banks, like most other business, implemented new operating procedures on the fly. We sent people home to work, restricted access and on occasion closed branches. We geared up our drive-thrus and pushed electronic signatures to the front of the line, all in an effort to meet the needs of our customers and communities. We geared up once again for another round of Payroll Protection Payment loans while still holding significant loans on our books from the first round of PPP.
We viewed most of these changes as temporary, short-term methods to get through a perceived short-term event. That short-term event waned, but came back with a new variant that continues to impact our lives and daily operations of our banks.
During these fast moving times, our association continued to be a source of information as each of us worked through the events unfolding before us.
Open communications
The CEO Update from Chris Furlow and the CEO Network are just two examples of TBA meeting the needs of our members by keeping us informed and our communications open as each of us continued our efforts to be a source of strength for our communities.
PPP forgiveness
The year also saw forgiveness of the PPP loans pick up steam with very positive results. We all lived through the frustrations of the Small Business Administration’s efforts to get the PPP process ramped up, which eventually happened. I believe in giving credit where credit is due. The forgiveness of the PPP loans was a much smoother process. This year the SBA has promptly processed forgiveness applications in a timely manner so that most PPP loans from 2020 have been forgiven.
Texas Tour
The TBA team covered the state with the Texas Tour. They visited 19 cities in 14 days, meeting with bankers in their communities to discuss the 87th Texas Legislature, TBA priorities and upcoming programs.
Annual Convention
We pushed our Annual Convention from May to August. The turnout was spectacular and provided an excellent opportunity for us to rekindle friendships and get up to speed on many topics that are important to our business operations. In addition, TBA engaged with our elected leaders at the state and federal level to make sure our positions were clear as they passed legislation that directly impacted our businesses. In short, TBA stayed fully engaged during these trying times.
Looking forward to 2022
As we move into 2022, TBA will continue with its mission — to provide resources, education and information to our membership in line with the fast moving times, such as the overwhelming attention from seemingly everywhere on crypto currencies and what it means for banks.
The change of leadership in Washington, D.C. will continue to be a focused concern, especially with elections on the horizon that will dominate the discussion in the coming new year.
Most importantly though, TBA will continue its efforts to keep you advised as regulators seek to implement new policies while we focus on delivering initiatives such as the Magnet and CREATE programs that drive our industry and community bankers forward, regardless of the tide’s direction.
The new year continues to raise many questions on old concerns, but with it comes an optimistic outlook for our bankers and the communities we serve.