President's Message

Bank News

First Interstate President & CEO Named to Federal Reserve’s 9th District Advisory Council

Olympia Federal Savings and Pacific Crest Savings Bank Named to Seattle Business Magazine’s Top 100 Workplaces

ERM: Not Just for the ‘Bigs’

Four WBA Member Banks Named PSBJ Best Washington Workplaces

Four Generations of Stantons Have Led Washington Trust Bank for Over 100 Years

Seattle Chamber Aims to Focus Election on Business-Leaning City Council

Northwest Youth Services Receives $25,000 Impact Grant from Peoples Bank

Washington Trust Bank Donates to First Story

                                                                  

National Updates

NCUA Votes to Delay Risk-Based Capital Rules for Credit Unions: In mid-June, the NUCA voted to delay the effective date of the 2015 risk-based capital rule for credit unions until January 2022. This is the second time the NCUA has delayed the rule, which banks have been subject to since 2014.

Fed to Maintain Interest Rates but Signals Shift in Sentiment: The Federal Open Market Committee announced on June 19 that they would maintain the target range for federal funds rates at the current 2.25 to 2.5 percent. Despite remaining the same, the FOMC noted that “uncertainties around this outlook have increased”.

ABA Seeks Greater Clarity on Banks’ Ability to Serve Industrial Hemp Businesses: In a letter to agency heads, the ABA called for greater clarification on how banks may serve businesses dealing with hemp, which was removed from the Controlled Substances Act by Congress as part of the 2018 Farm Bill.

ABA Foundation Accepting Applications for Community Commitment Awards: The ABA Foundation is now accepting applications for the Community Commitment Awards, which recognizes and promotes the valuable ways banks contribute to economic growth, community development and enhancing the quality of life. Entry forms must be submitted by July 12.

 

Members in the Community

Finally, a chance for us to shine a spotlight on the many contributions our members are making in their community:

Wells Fargo Volunteers at Snohomish County Music Project

Sound Community Bank Donates to Operation Uplift

Bank of America Awards 2019 Grant to Foster Economic Mobility

Kitsap Bank Announces $25k Prize in Small Business Competition

Bank of America Sponsors Junior Achievement at Spokane Elementary School

Columbia Bank Collects Peanut Butter for Kids in Need

First Financial Northwest Bank Donates to Mari’s Place for the Arts

 

WBA News

We are now accepting registrations for our fall programs, including the Commercial Lending Development Program, Retail Branch Manager Development Program and our newest educational offering, the Compliance Development Program, which will begin in September. These programs are purposely kept small to maximize students’ time with instructors, so make sure to register early.

Registration is also open for the fall 2019 conferences, including the Northwest Compliance Conference, Women in Banking Conference and the Pacific Northwest Bank Leadership Symposium.

Today in History: In 1935, President Franklin D. Roosevelt orders a federal gold vault to be built at Fort Knox, Kentucky.

As always, if we can be of any assistance, please do not hesitate to reach out.

-Glen