St Paul, MN – Community bankers around the country gathered in Washington this past week to discuss the latest challenges currently facing community banks across the country, according to Troy Rosenbrook, President of Highland Bank.
Rosenbrook, who attended the ABA Community Bankers Council meeting November 13-15, 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 a vital part of our financial industry’s infrastructure,” said Rosenbrook. “The strength and success of these banks have a great impact on the vitality of the communities they serve.”
Bankers had discussions on legislative priorities including the ACRE Act, Credit Card Competition Act and SAFER Banking Act; and regulatory issues, including Section 1033 of the Dodd-Frank act, debit card interchange fees and the Administration’s executive order on artificial intelligence. Council members also had a chance to share ways high interest rates have affected the business of banking, and exchange ideas on deposit generation, loan growth, talent recruitment and retention, and other business and operational 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.
Troy Rosenbrook joined Highland Bank as President in October 2017, bringing 3 decades of bank leadership experience. Troy is active in the industry, holding a board position with the Minnesota Bankers Association, in addition to representing Minnesota on the ABA Community Bankers Council. Troy also served as past Director and Treasurer for St Paul-based non-profit Conservation Corp of Minnesota and Iowa (an AmeriCorps funded organization.
About Highland Bank
As of September 30, 2023 Highland Bank reported nearly $783 million in assets. Founded in 1943, Highland Bank is an independent, privately held bank serving eight Minnesota communities including Blaine, Bloomington, Ely, Minnetonka, Maple Grove, St Michael, St Paul and Woodbury. Highland Bank’s expertise is commercial lending, with an emphasis in real estate lending, commercial/industrial loans, and SBA-backed loan solutions. The bank is also a local leader in home mortgage lending, specializing in lines of credit secured by personal residences.