— Josh Hogue, Chairman of ICBSD, President, Reliabank Dakota

We live in an era of continuous change. Consumer behaviors, technologies, regulations, competition from fintech and non-banks, economic forces, and global politics – the banking landscape today is shifting like never before.

In the middle of all this change, it is easy to feel like we’re left to navigate the course alone. My team and I have certainly felt this way before. But, I want to remind you that as an ICBSD member, you have a network of fellow community bankers facing the same uncertainty by your side. Below are a few key principles that have guided my team and I over the years. I’ve found them enormously helpful, and I believe you will too:

FOSTER AGILITY AND RESILIENCE

The organizations best equipped to thrive are adaptable and resilient in times of crisis. Assess processes, protocols, and operating models with fresh eyes. Challenge legacy ways of working that curb innovation. Test new digital solutions, skills training and cross-functional teams built to respond quickly to new demands.

COMMIT TO CUSTOMER CENTRICITY

Major consumer shifts brought on by the pandemic makes a seamless customer experience across channels more vital than ever. Identify and eliminate pain points. Seek out customer feedback. Enhance self-service options while retaining high-touch relationship support.

SUPPORT EMPLOYEES AS CHANGE LEADERS

Engaged employees who feel valued in turbulent times are enormously powerful change agents. Over-communicate, retrain, upskill teams impacted by tech integration or altered business strategy. Embrace flexible work options. Prioritize emotional wellbeing with empathy and compassion.

Take a Balanced Risk Approach

An overly cautious stance may seem wise in volatile conditions but can cost competitiveness and growth. Conduct risk evaluations that identify disproportionate risks or weak points, while still allowing forward-thinking business ideas to move ahead cautiously.

Navigating times of change and uncertainty with balanced, forward-looking leadership is critical for the future success of our industry. It is our duty as stewards of this critical economic sector to face today’s challenges with our sights set on a stronger, more inclusive future. Thank you for all your efforts to build, day-by-day, a brighter path ahead for community banking!