Federal Delegate’s Report

Federal Delegate's Report

By: Valerie Anderson-Boudaka, President, Farmers State Bank of Canton

Hello community bankers! Representing South Dakota as the Federal Delegate is a career highlight for me. I have met some of you, but there are many of you left that I need to meet. Let me introduce myself!

My name is Valerie Anderson-Boudaka and I am the president of Farmers State Bank of Canton. I’m a third-generation banker. Some of you may remember my father, Bruce Anderson. Bruce is enjoying retirement, but he is still chairman of our board. As many of you from family-owned banks, my career started young. In middle school, I started the glamorous job of shredded paper at the bank. By high school, I had moved to the teller line. I think I enjoyed talking to people more the actual job- don’t ask for my balancing records! During college at Augustana, I began working at large banks in Sioux Falls. In 2011, I got the call from my dad- “It’s time – we need you!” and I began my career at Farmers State Bank in lending.

I hope everyone who attended the Capital Summit had productive meetings on banking legislation and successful networking with other community bankers from across the country. I am very disappointed that I couldn’t make it- but I have a great (and cute) reason that I could not be there. My husband, Moe, and I welcomed our first son, Noah, in February!


One of my goals for my time as a Federal Delegate will be to keep up with the ever-changing regulatory landscape in banking. I was recently on a call with about thirty ag bankers from across the country, all ICBA members. Ag bankers that help watermelon and popcorn farmers, to your typical ag lenders like we have in South Dakota, all chimed in on the CFPB’s blog post about financial issues that are affecting rural America. The CFPB claims there are banking deserts and discriminatory and predatory lending to farmers in rural America. It was great to hear other bankers across the country share the sentiment we have here in South Dakota. I heard so many examples of how local banks in rural America have saved farmers, small business owners, and our local homeowners from unfortunate circumstances. This made me think, as South Dakotans we are humble people – maybe too humble. I challenge all of you to share your success stories with anyone you can. Your customers, your local paper, or even a post on social media. The more we speak about the great things we do, our communities and our customers will to. Don’t be shy- the community would love a feel-good story about your bank featured in your local newspaper.

Next up is our summer Black Hills Retreat! I’m very excited about the theme, “Born to Bank”, as this is my first retreat with my son. Will he be the fourth- generation banker in my family? Time will tell- but he will always remember the fun times he has every summer in the Black Hills with the best group of people you can find- the community bankers of South Dakota!

We need to thank Emily Hofer for her years of dedication to this position, and to community banking in South Dakota. Emily’s work and her enthusiasm for our organization is not over yet; she is on the ICBPAC committee. Let’s make sure to show her and the ICBPAC our support!

Keep up the great work community bankers! See you at the retreat!