Florida Banking December 2022/January 2023

STRAIGHT TALK FROM THE PRESIDENT’S DESK

IT IS AN HONOR SERVING YOU AS FBA CEO

BY ALEJANDRO “ALEX” SANCHEZ, FBA PRESIDENT AND CHIEF EXECUTIVE OFFICER

A s the third CEO in the FBA’s 135 years, I have certain perspectives and observations that I want to share with you. First, to Floyd Call, our first FBA CEO, and John Milstead, our second, I want to thank these two gentlemen looking down from above for their tremendous service to our industry and the FBA. I know that if I could ask them today, they would feel the same way I do: it is a tremendous honor to sit in my chair each day as FBA CEO. In fact, I have kept the same desk, coffee table, and credenza that my two predecessors had.

In 1888, Florida had a population of 376,000 from Key West to Pensacola. Today, with a population over 23 million and growing each day, our state has become a global business, residential, and vacation destination. Florida bankers then and now have worked hard to enhance the economic vitality of the persons and communities they serve. Former FBA Chair Godfrey Smith from Capital City Bank once told me that banks are a reflection of the communities they serve. Godfrey was so right, and I share his thoughts on shows like

FOX Business’ Mornings with Maria, hosted by financial journalist Maria Bartiromo. Simply put, if our banks are doing well, so too is the local economy of the communities we serve. On a larger scale, if the nation’s economy is well, our banks will also be doing well. Our indus t ry provides the capital that makes the economy go. We recognize that a regulatory framework is necessary to help maintain a safe and sound banking industry in any nation. No one has ever argued for a system free of regulations. No one. But there are tipping points that can shift this delicate balance,

I see so many successful bankers involved in the FBA, and that of course gives me tremendous joy. There is a certain incredible satisfaction in getting involved with the FBA; I see it each day in bankers who travel to Tallahassee or Washington to attend FBA leadership events, whether for a Senator, Governor, Fed Governor, member of Congress, or other key policymakers. When bankers decide to walk the hallways of Capitol Hill in our state or national capital in Washington, they are fulfilling the spirit, intent,

“WHEN BANKERS DECIDE TO WALK THE HALLWAYS OF CAPITOL HILL... THEY ARE FULFILLING THE SPIRIT, INTENT, AND DEDICATION THAT OUR FOUNDING BANKERS HAD...”

and dedication that our founding bankers had on the early evening of February 28, 1888, when they gathered in Jacksonville for the first organizational meeting of the FBA. On that historic day in Florida, bankers wanted to ensure that we created a united voice to speak up for an industry that plays a critical role in the economy. Little did they know, their state of Florida would become the third largest state in the United States.

and I believe our nation is there today. Washington, and to some extent, our state capitals, need to stop concentrating on the FDIC banking system to implement their rules, such as treating banks like the “climate police.” When we were deputized years ago for BSA/AML reasons, it was at tremendous costs to our industry, especially our community banks. The President’s recent comments about our industry having “junk fees” were quite frankly insulting. I did

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