| | 2025 Farmers Protection Act |
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| | The House Judiciary 1 Committee met on Tuesday to consider H 62 – the Farmers Protection Act. Three of the bill’s sponsors spoke about the legislation, which is focused on North Carolina state-chartered banks and would make it “unlawful for a bank to deny or cancel its service to an agriculture producer based, in whole or in part, upon the agriculture producer's greenhouse gas emissions, use of fossil-fuel derived fertilizer, or use of fossil-fuel powered machinery.” |
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| | The sponsors expressed their concerns about international initiatives in the environmental, social, and governance (ESG) context, including the Net-Zero Banking Alliance. |
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| Upcoming Professional Development Events: |
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| | | | Upcoming Annual Conferences: |
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| | | | | Earn Professional Credits at the 2025 American Mortgage Conference! | May 13-14 |
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| | | Join us May 13-14, 2025, at the Francis Marion Hotel for the American Mortgage Conference. This year's event offers the unique opportunity to earn CRCM, CERP, CFMP, and CPE credits while immersed in the rich history and vibrant culture of downtown Charleston, S.C. Network with industry leaders, gain insights into key mortgage issues, and enjoy all that this iconic city has to offer. | | Early bird registration is available through April 22, so sign up today to catch the discounted rates! |
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| | | State Legislative & Regulatory Update |
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| | New Legislative Filings and 2025 Bill Tracker |
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| | A series of new bills were filed over the past week, including H 187 – “the Credit Union Update.” It appears substantially similar to a bill from the last session – H 410 – which the NCBA opposed. Also notable is a bill – H 188 – addressing automatic renewal of consumer contracts. The bill as filed proposes to remove an exemption for contracts involving banks. We are reviewing both bills. |
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| | For these and the other bills we are following, please see the Bill Tracker included with this Bulletin. |
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| | Merchant Category Codes in Focus |
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| | On Tuesday, the House Commerce and Economic Development Committee met to review House Bill 38 (Second Amendment Financial Privacy Act). In the context of payment card networks, the bill bars the use of a merchant category code to track firearms transactions in North Carolina. A number of other states have passed similar laws. The bill is directed at card networks and exempts banks holding federally insured deposits from individuals. |
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| | The bankers association has suggested a series of potential amendments to the primary bill sponsor to fine-tune the bill. The sponsor has indicated that the bill will likely change further based upon our recommendations. The bill passed the committee and has been referred to the House Judiciary 1 committee for further action. |
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| | | Federal Legislative & Regulatory Update |
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| | | Following a federal court decision to lift the nationwide injunction against the Corporate Transparency Act and the beneficial ownership information (BOI) reporting rule, FinCEN has published a notice stating that the new deadline to file an initial, updated, or corrected BOI report is now March 21, 2025, for most filers. During this 30-day period, FinCEN will assess its options to further modify deadlines. |
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| | As noted previously in the Bulletin, there is a bill (H.R. 736) , which passed the House and is awaiting action in the Senate. It proposes to delay the reporting deadline to January 1, 2026, for existing companies. |
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| | Quarterly Banking Profile |
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| | The FDIC has published its latest Quarterly Banking Profile. The banking industry reported an aggregate net income of $66.8 billion in the fourth quarter of 2024. The FDIC has also ended reporting of the aggregate assets of institutions on the problem bank list. |
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| | FCC Vote on Rules to Curb Illegal Calls |
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| | On February 27, 2025, the Federal Communications Commission is scheduled to vote on new rules designed to cut down on the volume of illegal calls that consumers receive. The FCC fact sheet related to the rules includes an estimate that the average consumer receives 13 spam or fraud calls per month, with a median loss of $1,480 for fraud by phone call. |
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| | These rules would require voice service providers to block calls that are highly likely to be illegal based on a reasonable do-not-originate list. A do-not-originate list may include unused, unallocated, or invalid numbers, as well as numbers for which a subscriber has requested blocking. |
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| | | The Trump administration has said it does not plan to eliminate the CFPB but instead plans to transform it into a more streamlined agency. The information appeared as part of a court filing. | | Also of note, Acting CFPB Director Russell Vought has confirmed reports that the bureau set up an account on X for companies to report CFPB employees who violate the bureau’s work stoppage order. |
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| | Recommendations from Rep. French Hill |
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| | Chairman of the House Financial Services Committee French Hill (R-AR) and a group of other Republicans on the House Financial Services Committee have provided recommendations to the FDIC on how to clarify digital asset regulation and prevent alleged debanking. The recommendations include eliminating reputational risk as a supervisory factor and subjecting all supervisory guidance to external, periodic review. |
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| | GAO Report Regarding Executive Compensation |
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| | The Government Accountability Office (GAO) has issued a report recommending that federal regulators issue regulations or guidelines to prohibit incentive-based compensation arrangements that encourage excessive risk-taking at larger financial institutions. The GAO studied the issue at the request of House Financial Services Committee Ranking Member Maxine Waters (D-CA). |
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| | Community Bank Advisory Committee Terminated |
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| | President Trump has issued an executive order that disbands federal agency advisory committees, including the FDIC’s Community Bank Advisory Committee. The executive order notes that the changes will help reduce the size of government. |
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| | | Now Accepting Applications for the 2025 NCBA Foundation Scholarship |
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| | The North Carolina Bankers Association Foundation is now accepting scholarship applications from high school seniors with a parent who is a full-time employee of an NCBA member bank. Two $16,000 scholarships will be awarded during this year’s application cycle. Each applicant must be a current high school senior who will receive their diploma during the 2024-25 school year. |
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| | Scholarship guidelines and application instructions are available online. The deadline for uploading applications and supporting documentation is Friday, March 21. | | For more information contact John Sullivan at johns@ncbankers.org. |
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| | Discover the Next Generation of Pharmacy Management at the 2025
CBS Benefits Day & HR Workshop! | March 25-26 |
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| | | | Pharmacy care is evolving, and staying informed is crucial for HR and benefits professionals. Discover innovative new approaches that enhance cost, quality, and member experience in pharmacy care at the CBS Benefits Day & HR Workshop, where benefits experts Joey Albright, BCBSNC; Allison Stanaland, First Stop Health; and Vick Ward, WorkPartners, will share best practices in specialty drug management, new weight loss medications, and other hot topics in the pharmacy world. | | CBS Benefits Day & HR Workshop is a prime opportunity to learn more about the options available to your employees through Community Bank Services and focus on human resources management with your peers. Don't miss this annual tradition! |
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| | | Together at the Homestead for the 2025 NCBA/OBL Annual Convention | June 23-26 |
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| | | | The North Carolina Bankers Association and the Ohio Bankers League are thrilled to partner for the 2025 Annual Convention! Join us June 23-26, 2025, as we come "Together at The Homestead" in Hot Springs, Virginia, to learn, network, and celebrate treasured traditions. |
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| | | Professional Development Training with our Partnered Providers |
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| | | | Be an NCBA Star Student – Get Good Grades, Get Involved, Give Back |
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| | | | Since 1984, the NC Bankers Association Foundation has awarded nearly $1.5 million in college scholarship funds to more than 120 high school seniors with a parent employed by an NCBA member bank. Last year’s recipients were Anna Holt Basinger of New Hanover High School in Wilmington, now in her freshman year at the University of Virginia; and Jefferson’s Lane Miller, an Ashe County High School graduate in his first year at Duke University. This year’s scholarship application is available online. | | As we continue with the 2025 scholarship season, we look back at the 2024 finalists in our Star Student Spotlight. This week John Sullivan, Senior Director of the Future Bank Leaders Program, spoke with Princeton High School graduate Kaydon Roberson; a freshman member of the softball team at Meredith College, planning to major in Exercise and Sports Science. She is the daughter of Doug Roberson, Commercial Credit Team Leader at Truist Bank in Smithfield. |
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| John Sullivan: In high school you had a 4.0 GPA, were ranked third in your class, played varsity volleyball, basketball and softball all four years, plus volunteered and held a job. I bet you’ve got some great time management tips.
Kaydon Roberson: Yes. Get organized. Don’t procrastinate. Do things right away. When I have a project or assignment I lock myself in my room and knock it out. Of course, I can’t say I’ve done that every single time, but it helps to get things done as soon as you can, especially if you travel a lot for sports. | JS: If you could give your middle school self advice, what would it be?
KR: Don’t stress too much. You don’t have to be a perfectionist. It’s ok to mess up every now and then. That’s life. I used to be really hard on myself, but I’ve gotten a lot better about that. | JS: You’re now at Meredith, what’s the best part of college?
KR: I’m excited about playing softball, of course, but also really just enjoying making new friends. | JS: You suffered a knee injury playing softball in high school that changed your outlook on the future. Tell us about that experience:
KR: At first, I worried about recovering and falling behind physically, but by not playing I learned a valuable lesson: how to be a better, more supportive teammate. That’s really important. The other great thing that happened is, when I started rehabbing my knee I had a wonderful physical therapist. Not only did he help my knee get better, but we had these wonderful conversations. We talked about so much, including our faith and spirituality, the important things. That opened my eyes to what I want to do in life. | JS: That’s an awesome story. So…what do you want to do in life?
KR: Help others. Be a physical therapist. Have a family, maybe coach a youth softball team. |
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| | | Earn CPE Credit with ICBA Securities & Stifel Webcast | March 6 |
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| | ICBA Securities, a Community Bank Services-Endorsed Solution, announces its upcoming webcast to be held Thursday, March 6 at 1:00pm Eastern. |
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| | Stifel Financial, the endorsed broker-dealer of ICBA Securities, will present “Balance Sheet Management and Your Loan Portfolio.” Attendees can earn up to one hour of CPE credit! | | To register, please contact Jim Reber at jreber@icbasecurities.com or your Stifel sales representative. |
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| | | HomeTrust Bancshares, Inc. Rings the NYSE Opening Bell |
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| | HomeTrust Bancshares, Inc., the holding company of HomeTrust Bank, officially transferred the listing of its common stock from the NASDAQ Stock Market to the New York Stock Exchange on February 24, now trading under NYSE:HTB. To honor the occasion, Hunter Westbrook, President and CEO, rang The Opening Bell® along with members of HomeTrust's Board of Directors and Executive Management team. |
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| | “This day is a significant milestone in our journey. HomeTrust set a goal to continue growing as a high-performing regional community bank with the strategy of creating a ‘Best Place to Work’ for our team of dedicated professionals," said Westbrook. |
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| | | "We have achieved both in recent years which made the move to the New York Stock Exchange right for the Bank, our communities, and our employees who are all stockholders," Westbrook continued. "In joining the world’s largest stock exchange, we believe leveraging the NYSE trading platform will provide greater exposure for our Company and long-term value for our stockholders.” |
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| | | Uwharrie Capital Corp Reports Annual Earnings |
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| | Uwharrie Capital Corp and its subsidiary, Uwharrie Bank, reported consolidated total assets of $1.13 billion at December 31, 2024, versus $1.07 billion at December 31, 2023. |
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| | Net income for the twelve-month period ended December 31, 2024, was $9.9 million versus $8.6 million for the same period in 2023. For the twelve months ended December 31, 2024, net income available to common shareholders was $9.3 million, or $1.30 per diluted share, compared to $8.0 million, or $1.09 per diluted share, for December 31, 2023. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Company. | | The year-over-year improvement in net income as of December 31, 2024 is, in large part, the result of increased net interest margin earned on a substantially larger loan portfolio. |
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| | | | The function of art is to do more than tell it like it is – it’s to imagine what is possible. |
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| | | NC Bankers Association | 3601 Haworth Drive | Raleigh | NC | 27609 | US |
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