I want to begin by saying thank you. Thank you for your membership in the VACB, thank you for your attendance at the 2021 Annual Convention in Roanoke, and thank you for the opportunity to serve as your Chairman over the next 12 months.

It was truly refreshing to be back in person at the Hotel Roanoke. While video conferences and meetings can certainly be productive and efficient, I must admit that I prefer personal interactions. We had some great presentations from industry leaders and time to interact and learn from one another and our associate members. Thanks to Steve, Katharine and Kelli for a great convention. Likewise, a special thanks to Mike Thomas for his leadership, counsel and direction as Chairman in 2021.

As we plan for 2022, I suspect most of our banking companies will face similar operating challenges: excess liquidity, aggressive loan pricing and margin pressure, as well as increased competition for human capital resulting in considerable wage pressure. The operating environment may be challenging; however, community bankers in the Commonwealth have always been resilient and resourceful. Now is the perfect time to leverage your membership in the association.

I believe we share a common vision to build vibrant, local communities, promote economic growth, offer local employment and serve as community leaders. To be successful, our predecessors formed the VACB to provide a unified voice for undiluted advocacy, a source for targeted education and connections for quality collaboration. All are included in our simple yet powerful mission statement.

Undiluted Advocacy. Targeted Education. Quality Collaboration.
VACB-One Mission. Community Banks.®

I routinely remind myself the VACB is a membership-based, membership-driven organization. We, both the board and staff, serve at your pleasure. In that regard, your board members have launched a member outreach initiative to ensure we are focused on member value and mission. I have truly enjoyed my personal calls, learning from each one of you and your banks. The calls confirmed we are all facing similar operating challenges at the most basic level, as noted above. More importantly, I heard stories from you regarding the association’s important role when PPP loans were launched and when we needed support and guidance. Similarly, we discussed the role the VACB and ICBA plays at a federal advocacy level. However, I also heard some of you discuss the need and desire to become more engaged with your association.

We hope each of you will be more active with the VACB in 2022. There are some easy ways to launch that interaction and engagement. To begin:

• Ensure your bank contacts are current at the VACB, so the association sends information and educational opportunities to the right people at your bank.
• Plan to attend the ICBA Capitol Summit in Washington, D.C. (May 1-4, 2022) and be part of the Virginia delegation. It’s a great way to be part of a national ICBA event close to home and ensure our competitive position is protected inside the beltway.
• Commit to calling another member bank or associate member to share best practices or learn more about new solutions, technologies or services.
• Put the Annual Convention in Williamsburg on your calendar (Oct. 2-4, 2022).

In closing, your membership and engagement are appreciated and highly valued. Steve, his team and your board stand prepared to support you and your banking company as we navigate the challenges and opportunities in 2022.

Wishing you and yours a joyous holiday season.

Dennis