Pub. 9 2018 Issue 2

www.wvbankers.org 6 West Virginia Banker A Message from the President & CEO By Sally Cline Providing Value in a Shrinking Environment A ccording to most predictions, merger and acquisition activity is expected to increase. Here in West Virginia, we have lost eight bank charters since I joined the association in September 2015, and we know that we will lose at least one more by the end of the year. Between the mergers that have been closed or announced, the number of bank charters in West Virginia has declined by 15% in less than three years. Moreover, as of June 30, 1994, the most recent data available online, there were 151 banks doing business in West Virginia, today there are 74. Given these facts, it is imperative that the association serve a reduced number of banks while remain- ing financially healthy. Since my first day with the associa- tion, I made a commitment to you, our members, to lead us into the future and prepare us for whatever challenges we face. I strongly believe that in order to sustain a vibrant association, we must provide increased value through meaningful products and services to member bank. The board of our for-profit subsidiary, West Virginia Prod- ucts & Services Corporation (ProServ), is committed to identifying providers of the best products, services and solu- tions with favorable pricing and delivery options for member banks. Importantly, ProServ receives financial support from these endorsed arrangements, and the non-dues revenue generated helps mitigate the need for member dues. It is worth noting that member banks, with the exception of those at the dues cap, received a 7% reduction in the assessment rate for membership dues for FY18-19. The board of directors of ProServ con- tinues to improve its offerings. Most recently, ProServ endorsed Stationers, Inc., who have been highly regarded in West Virginia for over 50 years for quality office products and exceptional customer service. Stationers, Inc., a subsidiary of Champion Industries, Inc., is headquartered in Huntington, West Virginia. With over 500 employees statewide and an extensive network, Stationers has the resources to prompt- ly meet the needs of all our members. The company has the products you need to keep your business running, including a broad range of office supply items, computer supplies and accesso- ries, breakroom and janitorial supplies, and an extensive line of office furniture. Our associate members also provide excellent service and unique offerings to member banks of all sizes, includ- ing compliance, risk management, operations/IT, investment, insurance, accounting, legal, marketing and more. They provide products and services to help create a better experience for your customers and employees. Further- more, WVBanker’s nearly 75 associate members contribute to the success of the association through their dues, sponsorships and expertise. If you are looking for a service that ProServ doesn’t provide, I encourage you to first look to our associate members who support the association. For those of you who support our products and services, thank you! Our for-profit subsidiary exists to benefit your organizations. As you consider vendors and services for your bank, please keep in mind that with a prof- it-sharing agreement in place, each time you use a product or service endorsed by ProServ, you are directly supporting the non-dues side of the association. Non-dues revenue helps keep member costs down for training and develop- ment, put more time and resources into advocacy, and allows the association to thrive in an ever-consolidating industry. The staff and I remain committed to providing for you, our members, the most value for your membership. We appreciate your thoughts and ideas. 