Welcoming Remarks
by
Jerome H. Powell
Chair
Board of Governors of the Federal Reserve System
at the
2022 Community Banking Research Conference, sponsored by
the Federal Reserve, the Conference of State Bank Supervisors,
and the Federal Deposit Insurance Corporation
St. Louis, Missouri
(via pre-recorded video)
September 28, 2022
Good morning, and welcome to the 10th annual Community Banking Research
Conference. I have attended this conference twice before, including the first one back in
2013, and I can attest to the quality of the research and discussions. While I am coming
to you virtually today, many of you are gathering in person for the first time in three
years. I am sure it will make an excellent event even more enjoyable.
The Community Banking Research Conference brings together researchers,
regulators, policymakers, and community bankers to discuss the unique and important
role community banks play in our economy. The conference was launched in the years
following the financial crisis, in a collaboration by the Federal Reserve, the Conference
of State Bank Supervisors (CSBS), and the Federal Deposit Insurance Corporation
(FDIC). The conference was developed to deepen our understanding of the community
bank business model and to provide a forum to discuss research with academics,
policymakers, regulators, and community bankers.
The research presented over the years has informed supervisory and regulatory
policy debates and continues to challenge our thinking. It has highlighted the vital links
between community banks and small businesses, the availability of credit in low- and
moderate-income communities, how community banks support their local communities in
times of crisis, and the impact of technology.
A critical feature of the research sessions is that community bankers join
academic moderators to provide feedback from a practitioner's perspective. The
challenges facing community banks have changed significantly over the past 10 years.
Community banks have demonstrated remarkable resilience, and conferences like this
have helped regulators and supervisors to better understand those changes.
- 2 -
I want to congratulate the Federal Reserve Bank of St. Louis for a decade of
hosting an important and informative conference.
And I want to thank our colleagues at the Fed, the FDIC, and the Conference of
State Bank Supervisors. On a sadder note, I want to recognize the passing of John Ryan,
who was president of the CSBS, this past May. John's impact on the CSBS and his
contributions to the financial services sector overall were significant, and he is missed by
all who knew and worked with him.
Thanks also to the researchers and all the community banking professionals for
their insight and contributions over the years.
Thank you all, and have a great conference.