Thank You

It is not a secret - indeed we have widely advertised - that this newsletter is meant for the community banks. Megabanks and larger institutions write their own newsletters. Our aim has always been the mid-size to small financial institution. Therefore, we were delighted to see the news that last quarter 2004 earnings for community banks were exceptional, according to the FDIC. As a matter of fact, ICBA in their e-news said the last quarterly ROA for banks under $1 billion was the highest since the third quarter seven years ago, in 1998. Part of the reason for this gain, according to the FDIC, is when short term rates are low, larger banks can pass on costs to consumers more easily than smaller banks. But now that rates are rising, costs for large institutions are going up while those for smaller ones are more stable.

Whatever the reason, it's good to see the community banks prosper.

And they aren't the only ones to realize 2004 was a good year. BANKERS' HOTLINE has now been around for fifteen years, and we also had a great year last year. It would be an unforgivable oversight if we didn't step up and acknowledge the people responsible. That would be you - reading this editorial right at this minute. We'd like to thank you for your continued support, and your frequent contacts during the year. I've been where you are - working for a financial institution - and sometimes feeling overwhelmed and frustrated. We hear it in the questions you ask, the problems you're wrestling with, and the complaints you pass on! Been there - done that! It is all the more gratifying to feel that we're making a small difference, and perhaps making life just a little bit easier for you. That's what you tell us.

It's also gratifying to get the calls from the regulatory and government people who would like to be put on our mailing list. We comp all who ask for us to do so, because we feel it's a good way to keep them up to date on where to locate the trouble spots and what the most pressing questions are. We get calls from them too, and in return we reap the contacts that we need to help answer your questions.

BankersOnline.com is incredibly informative, efficient, and timely - and webinars, seminars, conferences, workshops, computer classes - all have their place in the scheme of communication and training. Evidently the BANKERS' HOTLINE also has a place - for your support and renewals are keeping it alive and healthy. That makes us feel wonderful!Thank you.

Correction: In last issue's article, "Free Credit Reports Now Available", Mississippi (MS) was incorrectly listed under Midwestern States and also under Southern States. Credit reports are available in MS on June 1, 2005. Missouri (MO) should have been listed with Midwestern States. Free Credit reports can be obtained there starting March 1, 2005. Thanks to all our readers in MO and MS who let us know!

Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 11, 1/05