IDAHO BANKERS IN THE NEWS

FOR IMMEDIATE RELEASE                                                                                    July 23, 2019

Contact:
Idaho Bankers Association (208-342-8282)
Trent Wright, President and CEO

IDAHO BANKERS IN THE NEWS

Boise Ron Johnson, Executive Vice President & Chief Financial Officer, The Bank of Commerce in Idaho Falls, was recently elected as the 2019/2020 Chair of the Board of Directors for the Idaho Bankers Association at its Annual Business Meeting.  The meeting was held during the IBA Annual Convention. He succeeds Tracy Silver, Wealth Management Division Director, of U.S. Bank.

Ron is a native of Eastern Idaho and currently serves as Executive Vice President and Chief Financial Officer for the Bank of Commerce. He additionally served for many years as the Bank’s Chief Operating Officer. In November he completes his 33rd year with the Bank. He has served on the Board of Directors and as the Chairman of the following non-profit organizations: The Idaho Independent Bankers Association, Idaho Advertising Federation, Development Workshop Inc. and the Western Independent Bankers Service Corporation.  Prior to his election as Chair, Ron served as Vice Chair of the IBA Board of Directors.

Ron has been newly appointed by Governor Brad Little to serve on the Lava Hot Springs Foundation. He also serves on the City of Idaho Falls Board of Adjustments and as a member of the Eastern Idaho Energy, Technology and Environment Working Group. He has served on the Monticello Montessori Public Charter School Board. He also enjoys his participation as an Angel Investor for the Eastern Idaho Innovation Center. In 1995 Ron was presented the Extra Miler Award by the Grand Teton Council, Boy Scouts of America, for outstanding service to boyhood.

Other Newly Elected Officers and Directors of the 2019/2020 IBA Board of Directors include:

Chair-Elect:  Lori Dizes, Senior Vice President, Region Manager, U.S. Bank

Treasurer:  Bruce Lowry, President & Chief Executive Officer, Ireland Bank

Immediate Past Chair:  Tracy Silver, Wealth Management Division Director, U.S. Bank 

DIRECTORS

J.V. (John) Evans, III, Executive Vice President/Regional Credit Officer, D.L. Evans Bank

Harlan Levy, Senior Vice President, Government Relations & Public Policy, Wells Fargo Bank

Don Melendez, Idaho Regional President, Wells Fargo

Jason Meyerhoeffer, President & CEO, First Federal Savings Bank

Toni Nielsen, Western Idaho Regional President, Zions Bank

Kingsley Osei-Boateng, Business Sales Consultant, Wells Fargo Bank

Dan Price, Community Banking President, Mountain West Bank, Division of Glacier Bank

Justin Smith, Regional President, U.S. Bank

The Idaho Bankers Association is a statewide bankers’ trade association that represents all charter types and sizes of banks operating in Idaho.

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IDAHO COMMUNITY BANKERS IN THE NEWS

FOR IMMEDIATE RELEASE                                                                              July 23, 2019

Contact:
Idaho Community Bankers Association (208-342-8282)
Trent Wright, President and CEO

IDAHO COMMUNITY BANKERS IN THE NEWS

Boise Jason Meyerhoeffer, President and CEO of First Federal Bank in Twin Falls, was recently elected as the 2019-2020 Chair of the Board of Directors for the Idaho Community Bankers Association (“ICBA”) at its Annual Business Meeting. The meeting was held during the Idaho Bankers Association Annual Convention. He succeeds Daniel Prohaska, Chairman and CEO of Idaho Trust Bank in Boise.

Jason has been actively involved in the southern-Idaho business community for over twenty-five years and currently serves on the boards of Business Plus, Inc. and the Southern Idaho Economic Development Organization. He is a two-time recipient of the Twin Falls Area Chamber of Commerce “Small Business Financial Services Advocate of the Year” award.

Jason is also a leader within the banking industry. In addition to ICBA, he also serves on the Board of Directors of the Idaho Bankers Association, and he is a newly elected board member of the Federal Home Loan Bank of Des Moines. He is a past member of the San Francisco Federal Reserve Bank Community Depository Institutions Advisory Council and American Bankers’ Association Government Relations Council.

Other Newly Elected Officers and Directors of the ICBA Board of Directors include:

Immediate Past President: Daniel Prohaska, Chief Executive Officer, Idaho Trust Bank

DIRECTORS

Mike Morrison, Executive Vice President & Chief Credit Officer, Bank of Commerce

Dan Price, Community Banking President, Mountain West Bank, Division of Glacier Bank

Cheryl Sorensen, Senior Vice President, Chief Operating Officer, Ireland Bank

Jerry Lyon, North Idaho Market President, First Interstate Bank

Wes Veach, President and CEO, bankcda

Jeff Newgard, President and CEO, Bank of Idaho

Nathan Christensen, Vice President & Senior Commercial Lender, Citizens Community Bank, Division of Glacier Bank

The Idaho Community Bankers Association (ICBA) is organized as an affiliate of the Idaho Bankers Association (IBA) representing community banks in the state of Idaho.

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New Associate Member – IBIS

Economic Outlook by Alan Blinder

November 2017
Alan S. Blinder

Vice Chairman and Co-Founder, Promontory Interfinancial Network
Professor of Economics and Public Affairs, Princeton University

Did anyone really expect the Federal Open Market Committee (FOMC) to raise interest rates on November 1, or even to make news with its statement? If they did, they were sorely—and predictably—disappointed.

The Fed is in no rush to raise rates. (Why should they be? Inflation is still below target.) And the Committee appears to be on track to move up another 25 basis points in December. Besides, Janet Yellen, her colleagues, every Fed watcher, and anyone else who pays attention to the Fed were all eagerly awaiting President Trump’s announcement, due the next day, of his pick to lead the central bank after February. Why, at such a delicate time, would Yellen want to rock the boat?

She didn’t, of course. Almost the only words that changed from the September 20 FOMC statement to the November 1 FOMC statement pertained to the economic impacts of the hurricanes. The Committee needed to show it was awake and sentient—and knew it was November, not September.

President Trump’s expected announcement did indeed come the next day. He selected Jerome (“Jay”) Powell to succeed Yellen. There can be little doubt that Powell will be confirmed by the Senate though I, for one, would not want to predict how long this will take. What can we expect from the new Fed chair?

Regarding bank regulation, Chairman Powell will probably have a lighter touch than Chair Yellen. Everyone is saying this, but don’t exaggerate the differences. Just as she was not a fanatic regulator, he will not be a fanatic deregulator. We are talking about shades of difference, not black vs. white.

Regarding monetary policy, it will be hard to see any differences at all between the outgoing and incoming Fed chairs. As a governor for five years, Powell’s monetary policy was straight Bernanke and then straight Yellen. Expect that attitude to continue as Powell assumes the top spot. Furthermore, Yellen leaves office with the FOMC already moving along a gradual path to higher interest rates and a very gradual path to a smaller balance sheet. Expect those two trends to continue, too.

If there is going to be a difference between Yellen-led monetary policy and Powell-led monetary policy, we won’t see it until something about the economic outlook changes. Almost by definition, no such thing is on the horizon now.