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| | Kevin Warsh Nominated to Serve as Chair of the Federal Reserve |
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| | President Trump has nominated former Federal Reserve Board member Kevin Warsh to be the next chair of the Federal Reserve. If confirmed by the Senate, Warsh would succeed current Fed Chairman Jerome Powell. |
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| | Warsh worked in the mergers and acquisitions department at Morgan Stanley before joining the administration of President George W. Bush, where he was special assistant to the president for economic policy and executive secretary at the National Economic Council. Bush nominated Warsh to serve on the Fed board in 2006. During his term, he served as the Fed’s representative to the G20 and as an emissary to the emerging and advanced economies in Asia. He has a law degree from Harvard Law School. |
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 | Kevin Warsh,
Federal Reserve Chair Nominee |
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| | In a post on X, Senator Thom Tillis voiced support for Kevin Warsh’s qualifications but criticized the Justice Department’s investigation into Fed Chair Jerome Powell, arguing it threatens the Federal Reserve’s independence and amounts to political or legal intimidation. |
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| | | | | | In the post, Sen. Tillis said that he would oppose the confirmation of any Federal Reserve nominee "until the DOJ's inquiry into Chairman Powell is fully and transparently resolved." |
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| | | Advocacy Opportunities: ABA Washington Summit (March 9-11) and ICBA Capital Summit (May 4-7) |
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| | NCBA partners closely with ABA and ICBA to advance pro-banking legislation and oppose harmful proposals. One of the most effective ways you can support this work is by attending the ABA Washington Summit (March 9–11) or the ICBA Capital Summit (May 4–7), both held in Washington, DC. |
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| Members of Congress want to hear directly from their constituents about how federal policy affects your bank and your community. A strong turnout from our industry reinforces the importance of our priority issues. |
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| Roxboro Savings Bank Distributes Grants to Support Financial Literacy |
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| | Roxboro Savings Bank has launched a new financial literacy grant program to support hands-on money management education for students in Person County. | | The bank’s board has allocated $25,000 for the initiative, with four grants totaling $10,031 awarded in the first round. The program encourages educators in grades 6–12 to develop practical lessons around budgeting, saving, credit, investing, and responsible money management. | | The first grants have already been distributed by Roxboro CEO Keith Epstein in Person County Schools and Roxboro Community School, where funding is supporting real-world learning experiences such as simulated budgeting exercises and student-run school businesses. |
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| | | School leaders expressed gratitude to the staff members who applied for the grants and to Roxboro Savings Bank for its continued partnership. Together, these investments are helping turn classrooms into learning environments that mirror real life—where students gain skills they can carry well beyond school walls. |
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| | Fifth Third Marks Milestone with Carolinas Branch Openings |
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| | | Fifth Third Bank recently marked an important milestone in the Carolinas with the opening of its 100th financial center in the region, celebrated with a ribbon-cutting at its Weaverville, N.C., location. | | The Weaverville financial center will be led by Almeria Waldrop, who brings more than 30 years of experience in financial services and a deep commitment to serving communities across Western North Carolina. |
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| | | Fifth Third continued the momentum with another grand opening in Steele Creek, where the new financial center will be led by Allison Cline. A longtime resident of the Steele Creek community, Cline is excited to serve her hometown and strengthen Fifth Third’s local presence. | | Together, the openings reflect Fifth Third’s continued investment in the Carolinas and its focus on community-based banking led by experienced local leaders. |
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| | Compliance is a moving target—ensure your team never misses the mark! | | We are thrilled to announce that Patti Joyner is returning on February 12-13 to lead the virtual 2026 BSA/AML/CFT Update Seminar! Patti’s deep-dive sessions are legendary for turning complex regulations into actionable expertise. This is your chance to expand your team’s understanding of BSA/AML/CFT in an engaging, high-impact environment. |
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| Federal Legislative & Regulatory Update⚖️ |
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| Letter to Senators Budd and Tillis |
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| | The NCBA has sent a letter to Senators Budd and Tillis, which outlines our industry’s concerns regarding market structure legislation. The letter highlights the loophole in federal law that allows certain crypto exchanges to offer yield-like rewards without appropriate oversight. It also provides a detailed illustration of how revenue sharing models between stablecoin issuers and exchanges can be used to circumvent or possibly violate Section 4(a)(11) of the GENIUS Act. |
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 | Left: Sen. Ted Budd
Right: Sen. Thom Tillis |
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| Finally, the letter addresses systemic implications to the financial system and credit availability when a payment stablecoin begins to resemble a deposit that yields interest. Community banks alone could see a reduction in deposits by $1.3 trillion. |
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| | Treasury Secretary Scott Bessent provided the Financial Stability Oversight Council’s annual report to the House Financial Services Committee on Wednesday. He was scheduled to provide a similar report to the Senate Banking Committee on Thursday. Also of note, the House Financial Services Committee held a hearing on Wednesday on restoring accountability to the SEC. |
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 | | Treasury Secretary Scott Bessent |
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 | REGISTRATION IS NOW OPEN!
March 3-4, 2026 | UNC Charlotte Marriott |
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| | On Thursday of last week, the Senate Agriculture Committee voted to advance The Digital Commodity Intermediaries Act by a 12-11 party-line vote. Committee Democrats objected to the lack of restrictions on federal officials from issuing or endorsing digital assets, as well as concerns about insufficient safeguards to mitigate fraud and crime. |
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| Meanwhile, you will recall that the Senate Banking Committee has proposed its own cryptocurrency market structure legislation, but some prominent companies in the crypto industry have sought to block bipartisan efforts to close loopholes in federal law that are being exploited to pay yield on stablecoins. | | This Monday, the White House hosted a meeting among banking and crypto industry representatives to discuss crypto regulation. |
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| Zelle 2025 Growth Numbers |
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| | A total of 337 financial institutions went live or signed up with Zelle in 2025. Ninety-seven percent of those institutions were community banks and credit unions with assets of less than $10 billion. More than 2,300 financial institutions are on Zelle, reaching 80% of U.S. bank and credit union accounts. |
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| Registration is Now Open for the CBS Benefits Day & HR Workshop! |
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| | | This annual event offers a valuable opportunity to explore the benefits and solutions available to your employees through Community Bank Services, Inc., while connecting with peers to share insights and best practices in human resources management. |
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| 2026 Market Outlook: Strategic Insights for the Evolving Landscape |
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| Strategic decisions made in the coming months will significantly influence your organization's success in 2026. As the business landscape evolves, leaders must contend with rising healthcare costs, new regulatory shifts, emerging risks, and changing workforce dynamics. |
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| To help you navigate these challenges and seize opportunities, CBIZ has created a guide that examines six critical trends and provides actionable steps to help your organization stay ahead of the curve and identify new growth opportunities. | | Key insights include | - Smarter Healthcare Strategies: Implement cost-containment solutions to manage rising health benefit expenses.
- AI and Automation: Reshape HR strategies by balancing technological innovation with responsible governance.
- Strong Risk Management: Address the widening spectrum of risks in the property and casualty market.
- Regulatory Shifts: Adapt total rewards programs to comply with new regulations, including the SECURE 2.0 Act.
| | Download your complimentary 2026 Market Outlook: A Guide to Key Benefits, Risks, and Workforce Trends today. |
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| Need Credits? Earn CRCM, CPE, SHRM and More! |
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| | Looking to skill up? For a limited time, North Carolina Bankers Association is making it easier than ever to invest in your professional growth. Sign up for one of the upcoming webinars from our partnered providers: |
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| PB Financial Corporation Declares First Quarter 2026 Dividend |
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| | Ted E. Whitehurst, President and CEO of PB Financial Corporation (PBNC), the holding company for Providence Bank, announced the Board of Directors approved a quarterly cash dividend of $0.61 per share on common stock outstanding to shareholders of record at the close of business on February 18, 2026. The dividend is payable March 5, 2026. |
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| | This is an increase of 7.02% from the dividend paid during the 1st quarter of 2025. This represents a $2.44 dividend on an annual basis and a yield of 4.07% (based on closing price on February 2, 2026, of $60.00/share). |
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| City National Opens in the Carolinas |
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| | City National Bank (CNB), a Los Angeles-based subsidiary of Royal Bank of Canada (RBC) which serves as RBC’s primary U.S. retail and private banking unit and has $96 billion in assets, has opened new offices in the Carolinas – one in Charlotte and another in Greenville, South Carolina. CNB leased 28,000 square feet and added 120 hires across the two new offices in the Carolinas. CNB expects to see clients concentrated in manufacturing, logistics, service, health care and real estate. |
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| Nu Secures Approval to Establish US National Bank |
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| | Nu, an international digital financial services platform with 127 million customers, has received conditional approval from the OCC for the formation of a de novo national bank, Nubank, N.A. The US bank will be led by Nu’s co-founder Cristina Junqueira, who has relocated to the US to spearhead the bank’s development and long-term growth. Nu must still satisfy specific OCC conditions alongside pending required approvals from the FDIC and the Federal Reserve. NU plans to establish strategic US hubs in the North Carolina Research Triangle, in addition to Miami, the San Francisco Bay Area, and Northern Virginia. |
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| First Independence Bank (Detroit, Michigan) Assumes All Deposits of Metropolitan Capital Bank & Trust (Chicago, Illinois) |
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| | Metropolitan Capital Bank & Trust was closed at the end of last week by the Illinois Department of Financial and Professional Regulation, which appointed the FDIC as receiver. The FDIC preliminarily estimates that the failure will cost its Deposit Insurance Fund about $19.7 million. Metropolitan Capital Bank & Trust is the first bank to fail in the nation this year. |
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| | "The most important thing to remember is this: to be ready at any moment to give up what you are for what you might become." |
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| NC Bankers Association | 3601 Haworth Drive | Raleigh | NC | 27609 | US |
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