Florida Banking December 2024-January 2025

CHAIR’S MESSAGE

YEAR-END REFLECTIONS AND 2025 PRIORITIES FOR FLORIDA’S BANKING COMMUNITY

BY DEREK JONES, FBA CHAIR

A s we approach the end of 2024, it's a perfect moment to pause and reflect on the remarkable achievements and challenges that have shaped Florida's banking community over the past year. In my role as FBA Chairman, I've had the privilege of witnessing the extraordinary resilience and innovation within our industry, as we've navigated a constantly changing landscape. Now, as we look ahead to 2025, I'm excited to share our vision and priorities for the future, building on the strengths we've cultivated this year. This year, Florida continued to grapple with economic shifts driven by rising interest rates and the lingering impacts of inflation. But, as always,

practices that are working, and advocating for the U.S. Congress and our Florida Legislature to provide strong incentives for affordable housing development. Additionally, we will press for continued property insurance reform to ensure the cost burden does not stifle the growth and resilience of our communities. Like many other states, Florida has seen a surge in fraud targeting the most vulnerable among us. Protecting customer data and preventing fraud will be a cornerstone of our focus in 2025. The FBA will work closely with the Florida Office of Financial Regulation and other stakeholders to establish industry-wide best practices and more robust information sharing, as well as provide training for all bankers. A Call for Continued Collaboration

our state’s banks rose to the challenge. The aftermath of three major hurricanes tested the resilience of our communities across the state, but particularly along Florida’s west coast. I’m proud of how our bankers have provided critical disaster recovery support — expediting loans, providing temporary relief for borrowers and partnering with local organizations to rebuild — even in the face of their own losses.

“AS WE PREPARE FOR AND BEGIN A NEW YEAR, I WANT TO EMPHASIZE THE IMPORTANCE OF UNITY WITHIN OUR BANKING COMMUNITY.”

As we prepare for and begin a new year, I want to emphasize the importance of unity within our banking community. Florida’s unique economic environment, from its rapid population growth to its vulnerability to natural disasters, requires us to work together to meet these challenges. Whether

advocating for regulatory reforms, supporting affordable housing or protecting our customers from fraud, our collective strength as an industry will ensure Florida’s banking sector remains strong, innovative and resilient. I extend my deepest gratitude to each of you for your hard work and dedication this year. Our shared successes in 2024 are a testament to your commitment to serving Florida’s diverse communities. As we look to 2025, I am confident that, together, we will continue to make Florida a place where our banking institutions can thrive and help foster sustainable growth for all. Wishing you a prosperous year ahead.

Florida continues to be one of the fastest-growing states in the U.S., attracting new residents and businesses at a rapid pace. Given our state’s exposure to hurricanes and other natural disasters, bankers must continue to play a proactive role in helping communities prepare and recover. This includes leveraging their deep relationships in the community to support disaster preparedness and response plans as well as mitigation efforts. The sharp increase in housing prices across Florida, particularly during the pandemic, has highlighted the urgent need for more affordable housing solutions. We will continue sharing community-based best

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