Chairman’s Corner

The NEW YOU in the

Post-Covid19 World

2020 will be a year we will always remember because of the significant and unexpected events that impacted us all. The coronavirus and the protests across the country in response to racial injustice has affected our banks, and their employees; our customers and our communities. Our response will be the key to our future viability and success. serve, while maintaining financial strength. This will be a necessity in ance to survive. Focus on the fundamentals that have proven effective • Do your employees feel positive about your bank’s diversity ed employees or departments? How will this impact your online service to your customers? Will they feel safe and transactions? What will be the impact on the quality of your loan portfolio? Will borrowers be able to resume operations and make loan payments after deferment ends?

Do you have sufficient capital to manage through the crisis?

Significant events may change the way you do business, i.e. deliver serYour Pandemic Task Force can be the leader in this transition process. vice, but it should not “blur” or change your message! Your core values They should develop a written plan to address reopening your lobbies, should provide a solid foundation to guide you forward. coordinate implementation and develop appropriate communications. I think we can all agree that you want to provide a safe and secure work ment, approved and endorsed by the CEO and presented to the Board environment for your team members, provide a memorable and posiof Directors for approval. (This may vary from bank to bank depending tive experience for your customers and strengthen the communities you on size and complexity). the post-COVID19 environments. The plan should include actions that will enable team members and We are entering the unchartered territory of uncertainty. Managing ducting their banking transactions, whether in person or online. It through this crisis requires understanding the challenges and persevershould also identify areas for potential change and improvement. This plan should be thoroughly reviewed and vetted by senior managecustomers to feel safe, comfortable and secure in delivering and confor your bank. This process will prove to be invaluable in improving the strength, viability and profitability of your bank. Evaluating new, improved and Some key questions that must be addressed are as follows: more efficient customer service and product delivery options is essential for your bank to thrive in the future. The alternatives should address • How will it be different for your employees? Will they be all segments of your customer base. Some will want to return to your eager to return? Will they feel safe and secure? lobbies, while others prefer to do everything online. You have to satisfy and inclusion culture? Community banks that embrace change, manage adversity and proac• Will you continue the option to work from home for selectwinners in the post-COVID19 world. internal culture? The KBA, as always, will be ready to provide resources and assistance • What changes will you make in delivering in person and you as we transition to the post-COVID19 environment. secure in returning to your lobbies and/or conducting online Are you prepared? both! tively respond to unexpected events in a structured manner will be the with this process. The staff is already working hard in preparing to help • • How will you communicate to your employees, customers and the communities you serve? Regardless of the communication means, it must be clear, concise and consistent! Remember, speak with one voice. What will be the impact on your markets? How long will economic recovery take - three months, six months, one year or more? “ KENTUCKY BANKER Food for Thought Loving your neighbors is to be a family and is far beyond DNA connection. Blood may be thicker than water, but love, kindness, trust and ability to empathize with each other in the face of every adversity is what we should call ‘my family.’ Kenny Nola | 7