Florida Banking June/July 2025

PRESIDENT'S PERSPECTIVE

MAKING PROGRESS ON OUR PLAN

BY KATHY KRANINGER, FBA PRESIDENT AND CEO

“Ask yourself if what you’re doing today is getting you closer to where you want to be tomorrow.” – Radma Verix On July 1, we begin a new membership/fiscal year and the second year of our strategic plan. It boils down to ensuring member value and maximizing member engagement! We are on track with your guidance and support! I want to share two areas that are particularly exciting – first, our public policy priorities and second, our initiatives to recruit and retain the next generation of banking leaders. Based on discussion and feedback with members and partners across Florida, FBA is working to address these core public-policy issues affecting our bankers and communities: • Affordable housing • Property insurance • Countering fraud • Leveling the playing field, particularly when it comes to credit unions Additionally, we are facing more than credit unions as we look at competitive dynamics in the marketplace. So, incoming Chair Keith Costello has made promoting de novo formation and technology innovation priorities for the year ahead. These issues are outlined in greater detail on our new FBA website, and in Members-Only Resources section we will continue to build. As a few highlights: • Last November, FBA hosted our first Affordable Housing Summit with the Federal Home Loan Bank of Atlanta, the Florida Housing Coalition and Habitat for Humanity Florida, as well as many of our bank members and their local partners. Solutions come from bringing together stakeholders across government, the private

sector and non-profits to compare notes on barriers and share best practices. • Just last month we relaunched our property insurance task force chaired by Garrett Richter and supported by Terry Hughes. Despite tort reform and other efforts by the Legislature, this issue remains a significant challenge. Working with other partners, we hope to develop concrete proposals going beyond legislative action to improve the market dynamics. • Countering fraud is a multi-pronged initiative. A month ago, we met with Attorney General Uthmeier to promote his engagement on countering fraud to protect consumers, particularly those most vulnerable, through education and law enforcement collaboration. • Last month we wrapped up our credit union task force platform. While the House did not include any changes to credit union taxation in the tax package for reconciliation, progress has been made in seeing mega-credit unions with stadium-naming rights as unfairly tax-exempt, rather than truly non-profit entities. • Just a few weeks ago, two FBA members – 2025 26 Chair Keith Costello and Board member Mary Usategui – testified before the House Financial Services Committee on enhancing competition in banking services, including encouraging de novo formation. Several bills that would make a difference are moving through Congress. After advocacy, the second issue that has come up repeatedly with all of you is recruiting and retaining the next generation of bankers and bank leaders. FBA is supporting a number of initiatives to tackle this challenge. Bank on your Future is our first initiative under that umbrella. With particular support from Fred

President's Perspective, Continued on page 6

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