In the latest episode of the S.R. Snodgrass podcast, Lenore Seifer is joined by Kevin Shivers, President and CEO of the Pennsylvania Association of Community Bankers (PACB), for a discussion on the critical role community banks play in local economies.
Kevin shares his early experiences growing up in a community banking household and the profound impact those formative years had on his career. He goes on to discuss the unique and essential role community banks play in providing loans, supporting local businesses, and reinvesting in the communities they serve. Kevin highlights how these banks are not just financial institutions but key drivers of economic growth, particularly in small towns and underbanked areas.
One of the key highlights of the episode is the conversation about the future of community banking, including the challenges posed by new payment systems, stablecoins, and the increasing cost of regulation. Kevin stresses the importance of establishing strong guardrails to protect community banks from structural disruptions, which could have significant consequences on the local economy. With insights into the legislative efforts at the federal and state levels, Kevin reveals what must be done to preserve the long-standing impact of community banks.
With America’s 250th birthday approaching, Kevin also shares how PACB is taking this milestone opportunity to highlight the critical role community banks have played since the nation’s founding, especially as the industry faces an ever-changing landscape.
Listen to the full conversation on YouTube to hear more about the future of community banking and its far-reaching impact.
