Bankers discuss challenges, opportunities

The state of the economy, accounting developments and fraud prevention were some of the challenges discussed at a recent national meeting of community bankers, according to Dennis McIntosh, President and CEO of Ozarks Federal Savings and Loan Association.

McIntosh represents Missouri on America’s Community Banker Council of the American Bankers Association.  McIntosh said the bankers talked at length about these and other policy issues pending in Washington that might impact the nation’s 8,000 community banks and their communities.

“We come from different competitive markets, but the concerns of all community bankers are the same in this current economy,” said McIntosh. “Now more than ever, we need to share new ideas and insights on policy and management issues facing community banks. The banking industry will be the engine of economic recovery and we will all get there faster working together.”

Council members also had a chance to exchange information on innovative products, solutions and management strategies they have implemented recently.  The meeting took place May 2-4 in Philadelphia, Pa.

The ABA America’s Community Bankers Council, which meets twice a year, is made up of approximately 100 bankers from institutions with generally less than $1 billion in assets. Members are appointed from all 50 states by the ABA chairman.

McIntosh of Ozarks Federal has served as CEO for the last eight years. McIntosh serves on a number of local charitable and business organizations including the Mineral Area College Foundation Board and Farmington’s Industrial Development Authority.

Ozarks Federal is a mutual association that was founded in 1930 and has been a member of the Federal Home Loan Bank System since 1933. The home office is located in Farmington with branches in Festus, Fredericktown, Ironton and Potosi. Ozarks Federal has over 220 million dollars in assets, with 47 full-time employees.