Special thanks to the more than 550 bankers, spouses and guests who helped celebrate the NBA’s 2019 NBA Annual Convention, May 1-3 at the Embassy Suites in La Vista. The Convention is an energizing opportunity to highlight the activities of the NBA, connect/reconnect with fellow Nebraska bankers and friends, and to celebrate banking in Nebraska. The 2018-19 NBA Annual Report was presented to the membership at the Annual Convention which showcases many of the NBA’s recent accomplishments and successes. The report can be viewed on the NBA website (www.nebankers.org) under “About” the NBA menu item.
Thanks, are also due to continued strength within the banking industry, strong member support of NBA programs and services, and proactive financial management, I am pleased to report that your NBA experienced another strong fiscal year. Year-end fiscal estimates indicate total organizational assets were $3,634,046 while total liabilities were $388,132. Member equity is approximately $3.2 million.
Total revenues during the past year were almost $3.39 million while expenses were $3.2 million. These numbers resulted in an estimated net change in the organization’s cash reserves of approximately $150,000. This increase occurred even as the NBA provided a recent 5% membership dues refund and a sizable contribution toward flood disaster recovery. In addition, we were able to increase our principal balances in both the Nebraska Bankers Educational Foundation and the NBA fund at the University of Nebraska Foundation to grow our NBA scholarship programs.
Here are a few important highlights I wanted to share as the NBA wraps up 2018-19 and eagerly moves into our next fiscal year:
Finally, I would be remiss if I did not extend a special thank you to our members institutions, board members, volunteers, partners and our amazing staff who help the NBA retains its role as the leading financial services trade association in the state of Nebraska. Together, we successfully speak as the leading advocate for Nebraska’s banking industry.
Until next time,
Richard J. Baier
If you have read my magazine columns or attended one of my membership updates over the past several years, you have probably heard me discuss the importance of recruiting and retaining the next generation of Nebraska bankers. As I travel the state, talent recruitment and development remain top concerns for almost every member institution in our state; urban and rural locations, small and large banks.
One of the key strategies utilized through your NBA to help nurture future bankers are scholarships offered through the Nebraska Bankers Educational Foundation (NBEF) and the Nebraska Bankers University of Nebraska Foundation Allocation Committee (UFAC). Thanks to very generous donations from our Nebraska bankers, the NBA provides nearly $150,000 in scholarships annually, to students attending various higher education institutions across Nebraska.
Founded in 1997, the NBEF is a 501(c)(3) foundation managed independently by your NBA with the purpose of using investment income to provide scholarships to business students with an interest in banking who attend one of Nebraska’s state or privately funded colleges or universities. NBA staff and volunteer bankers who meet semiannually. Many of the involved bankers are active contributors to the NBEF. The NBEF board provided eleven-$2,000 scholarships for the 2019-20 school year to deserving Nebraskans from the following institutions: Nebraska Wesleyan; Wayne State College; Midland University; and Concordia University.
During the 1970s, the NBA conducted a fund drive to establish the Nebraska Bankers fund within the University of Nebraska Foundation. The campaign raised approximately $1 million, forming the foundation’s largest single-industry fund. Again, NBA staff and volunteer bankers comprise the University Foundation Allocation Committee to oversee the four different donor-directed accounts based at the University of Nebraska Foundation. Investment income from these funds provide substantial support at each of the four University of Nebraska bachelorette campuses. During the current year, UFAC funds provided the following levels of support:
Until next time,
Richard J. Baier
Richard Baier, a proud husband, father of two, and the president/CEO of the Nebraska Bankers Association (NBA). Avid about growing the Cornhusker State's banking industry.