Vowing to make community banking great again, Sam Vallandingham, president of The First State Bank, joined more than 100 community bankers and staff from the Independent Community Bankers of America® (ICBA) at the White House on May 1, 2017, in a meeting with President Donald Trump and other top administration officials that included Vice President Mike Pence, NEC Director Gary Cohn and Small Business Administration Chief Linda McMahon.
In the meeting, Trump informed IBCA members that his administration is focused on helping community banks lend to small businesses and said that he is working to “roll back burdensome regulations,” such as those created by the Dodd-Frank Act.
Vallandingham, a long-time supporter and active member of the ICBA, was provided the opportunity to be included in the White House meeting as part of his responsibilities as a member of ICBA Bancard’s Total Card Management Board of Directors.
“It was an honor to be selected to participate in this unique meeting and help lend a voice to issues that community banks face,” said Vallandingham. “Across America, community banks are dedicated to fostering local economic and job growth by serving the consumers and small businesses in their communities. Unfortunately, one-size-fits-all regulations are preventing community banks from lending and promoting prosperity at the local level. I will continue to offer First State Bank’s and my full support to ICBA as they work to advance common-sense reforms that will help restore the economic power of community banks.”
Vallandingham remains in Washington this week for the ICBA Capital Summit. The Summit includes the presentation of the ICBA’s Plan for Prosperity, an industry solution and pro-growth platform to eliminate onerous and unnecessary regulatory burdens that inhibit lending and innovation. It will also feature meetings with policymakers, remarks from speakers such as Secretary Mnuchin and House Financial Services Committee Chairman Jeb Hensarling (R-Texas), and the first-ever ICBA Future of Banking Symposium, which offers insights into the future of the rapidly changing community banking industry.
