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[Music] [Music] good<00:00:07.560><c> afternoon</c><00:00:08.320><c> and</c><00:00:08.480><c> welcome</c><00:00:08.719><c> to</c><00:00:08.880><c> connecting</c>

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good afternoon and welcome to connecting good afternoon and welcome to connecting communities<00:00:10.519><c> thank</c><00:00:10.679><c> you</c><00:00:10.800><c> for</c><00:00:10.960><c> joining</c><00:00:11.240><c> us</c><00:00:11.400><c> for</c>

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communities thank you for joining us for communities thank you for joining us for today's<00:00:12.000><c> webinar</c><00:00:12.639><c> the</c><00:00:12.799><c> changing</c><00:00:13.200><c> landscape</c>

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today's webinar the changing landscape today's webinar the changing landscape of<00:00:13.839><c> inperson</c><00:00:14.360><c> banking</c><00:00:15.200><c> implications</c><00:00:15.799><c> for</c>

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of inperson banking implications for of inperson banking implications for financial<00:00:16.560><c> institutions</c><00:00:17.400><c> regulators</c><00:00:18.320><c> and</c>

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financial institutions regulators and financial institutions regulators and communities<00:00:19.800><c> I'm</c><00:00:19.960><c> Sydney</c><00:00:20.439><c> diava</c><00:00:21.439><c> assistant</c>

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communities I'm Sydney diava assistant communities I'm Sydney diava assistant vice<00:00:22.080><c> president</c><00:00:22.439><c> of</c><00:00:22.600><c> Community</c><00:00:23.000><c> Development</c> vice president of Community Development vice president of Community Development at<00:00:23.599><c> the</c><00:00:23.680><c> Federal</c><00:00:24.000><c> Reserve</c><00:00:24.240><c> Bank</c><00:00:24.400><c> of</c><00:00:24.519><c> St</c><00:00:24.720><c> Louis</c>

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at the Federal Reserve Bank of St Louis at the Federal Reserve Bank of St Louis and<00:00:25.480><c> I</c><00:00:25.599><c> will</c><00:00:25.720><c> serve</c><00:00:25.920><c> as</c><00:00:26.039><c> your</c><00:00:26.160><c> moderator</c><00:00:26.599><c> for</c> and I will serve as your moderator for and I will serve as your moderator for today's<00:00:27.199><c> session</c><00:00:28.199><c> I</c><00:00:28.279><c> would</c><00:00:28.439><c> now</c><00:00:28.640><c> like</c><00:00:28.760><c> to</c><00:00:28.920><c> take</c>

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today's session I would now like to take today's session I would now like to take the<00:00:29.240><c> time</c><00:00:29.359><c> to</c><00:00:29.519><c> introduce</c><00:00:29.840><c> our</c><00:00:30.080><c> speakers</c><00:00:30.359><c> for</c> the time to introduce our speakers for the time to introduce our speakers for today<00:00:31.599><c> Mike</c><00:00:31.880><c> Anderson</c><00:00:32.520><c> senior</c><00:00:32.920><c> vice</c>

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today Mike Anderson senior vice today Mike Anderson senior vice president<00:00:33.480><c> for</c><00:00:33.640><c> Bank</c><00:00:33.879><c> on</c><00:00:34.079><c> Buffalo</c><00:00:34.760><c> a</c><00:00:34.920><c> division</c>

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president for Bank on Buffalo a division president for Bank on Buffalo a division of<00:00:35.399><c> CNB</c><00:00:35.960><c> bank</c><00:00:36.719><c> Mike</c><00:00:36.960><c> leads</c><00:00:37.239><c> office</c><00:00:37.640><c> operations</c>

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of CNB bank Mike leads office operations of CNB bank Mike leads office operations for<00:00:38.320><c> the</c><00:00:38.440><c> Tim</c><00:00:38.680><c> Branch</c><00:00:39.000><c> Network</c><00:00:39.600><c> and</c><00:00:39.760><c> has</c> for the Tim Branch Network and has for the Tim Branch Network and has played<00:00:40.120><c> a</c><00:00:40.280><c> critical</c><00:00:40.640><c> role</c><00:00:40.960><c> in</c><00:00:41.079><c> the</c><00:00:41.200><c> growth</c><00:00:41.440><c> of</c>

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played a critical role in the growth of played a critical role in the growth of Bank<00:00:41.800><c> on</c><00:00:42.000><c> Buffalo</c><00:00:42.480><c> in</c><00:00:42.640><c> the</c><00:00:42.719><c> Western</c><00:00:43.039><c> New</c><00:00:43.200><c> York</c> Bank on Buffalo in the Western New York Bank on Buffalo in the Western New York Market<00:00:44.520><c> Elena</c><00:00:44.920><c> Barka</c><00:00:45.600><c> Community</c><00:00:46.079><c> Development</c>

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Market Elena Barka Community Development Market Elena Barka Community Development research<00:00:46.960><c> analyst</c><00:00:47.440><c> at</c><00:00:47.559><c> the</c><00:00:47.680><c> Federal</c><00:00:47.960><c> Reserve</c> research analyst at the Federal Reserve research analyst at the Federal Reserve Bank<00:00:48.520><c> of</c><00:00:48.920><c> Philadelphia</c><00:00:49.920><c> Elena</c><00:00:50.360><c> supports</c>

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Bank of Philadelphia Elena supports Bank of Philadelphia Elena supports research<00:00:51.199><c> in</c><00:00:51.440><c> topics</c><00:00:51.879><c> that</c><00:00:52.079><c> impact</c><00:00:52.440><c> how</c> research in topics that impact how research in topics that impact how communities<00:00:53.399><c> develop</c><00:00:53.960><c> and</c><00:00:54.559><c> grow</c><00:00:55.559><c> Caleb</c><00:00:55.920><c> Bobo</c>

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communities develop and grow Caleb Bobo communities develop and grow Caleb Bobo supervisory<00:00:57.559><c> examiner</c><00:00:58.079><c> at</c><00:00:58.239><c> the</c><00:00:58.320><c> Federal</c> supervisory examiner at the Federal supervisory examiner at the Federal Reserve<00:00:58.960><c> Bank</c><00:00:59.120><c> of</c><00:00:59.239><c> St</c><00:00:59.440><c> Louis</c><00:01:00.079><c> where</c><00:01:00.280><c> he</c>

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Reserve Bank of St Louis where he Reserve Bank of St Louis where he manages<00:01:00.879><c> the</c><00:01:01.079><c> CRA</c><00:01:01.680><c> examination</c><00:01:02.320><c> function</c>

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manages the CRA examination function manages the CRA examination function he's<00:01:03.440><c> also</c><00:01:03.680><c> a</c><00:01:03.840><c> doctoral</c><00:01:04.320><c> student</c><00:01:04.680><c> at</c><00:01:04.839><c> St</c><00:01:05.080><c> Louis</c>

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he's also a doctoral student at St Louis he's also a doctoral student at St Louis University<00:01:06.320><c> studying</c><00:01:06.840><c> consumer</c><00:01:07.320><c> behavior</c>

1:07

University studying consumer behavior University studying consumer behavior and<00:01:08.000><c> Retail</c> and Retail and Retail banking<00:01:10.080><c> West</c><00:01:10.400><c> Burns</c><00:01:11.360><c> Executive</c><00:01:11.840><c> Vice</c>

1:12

banking West Burns Executive Vice banking West Burns Executive Vice President<00:01:12.560><c> at</c><00:01:12.720><c> Midwest</c><00:01:13.200><c> Bank</c><00:01:13.479><c> Center</c><00:01:14.360><c> West</c>

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President at Midwest Bank Center West President at Midwest Bank Center West leads<00:01:15.040><c> and</c><00:01:15.200><c> implements</c><00:01:15.640><c> the</c><00:01:15.759><c> institutions</c> leads and implements the institutions leads and implements the institutions activities<00:01:17.200><c> to</c><00:01:17.439><c> expand</c><00:01:18.000><c> access</c><00:01:18.520><c> to</c>

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activities to expand access to activities to expand access to opportunity<00:01:19.680><c> and</c><00:01:19.920><c> capital</c><00:01:20.280><c> for</c> opportunity and capital for opportunity and capital for traditionally<00:01:21.079><c> underserved</c><00:01:21.799><c> groups</c><00:01:22.799><c> and</c>

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traditionally underserved groups and traditionally underserved groups and Miguel<00:01:23.320><c> Lopez</c><00:01:24.119><c> marketing</c><00:01:24.600><c> strategy</c>

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Miguel Lopez marketing strategy Miguel Lopez marketing strategy executive<00:01:25.520><c> for</c><00:01:25.680><c> southern</c><00:01:26.040><c> bcor</c><00:01:27.040><c> Miguel</c><00:01:27.360><c> leads</c>

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executive for southern bcor Miguel leads executive for southern bcor Miguel leads the<00:01:27.759><c> strategy</c><00:01:28.119><c> and</c><00:01:28.240><c> Outreach</c><00:01:29.040><c> behind</c><00:01:29.280><c> the</c> the strategy and Outreach behind the the strategy and Outreach behind the cdfi<00:01:30.159><c> expansion</c><00:01:30.720><c> of</c><00:01:30.920><c> services</c><00:01:31.320><c> for</c><00:01:31.600><c> Hispanic</c>

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cdfi expansion of services for Hispanic cdfi expansion of services for Hispanic and<00:01:32.119><c> Latino</c><00:01:32.600><c> customers</c><00:01:33.399><c> and</c><00:01:33.600><c> prospective</c>

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and Latino customers and prospective and Latino customers and prospective customers<00:01:34.920><c> within</c><00:01:35.159><c> its</c><00:01:35.360><c> current</c><00:01:35.680><c> banking</c> customers within its current banking customers within its current banking footprint<00:01:36.640><c> and</c>

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footprint and footprint and Beyond<00:01:38.360><c> before</c><00:01:38.600><c> we</c><00:01:38.759><c> get</c><00:01:38.960><c> started</c><00:01:39.439><c> let's</c><00:01:39.640><c> move</c>

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Beyond before we get started let's move Beyond before we get started let's move to<00:01:40.000><c> slide</c><00:01:40.240><c> four</c><00:01:40.600><c> where</c><00:01:40.759><c> we</c><00:01:40.840><c> can</c><00:01:41.000><c> take</c><00:01:41.159><c> care</c><00:01:41.320><c> of</c> to slide four where we can take care of to slide four where we can take care of a<00:01:41.520><c> few</c><00:01:41.759><c> housekeeping</c>

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a few housekeeping a few housekeeping items<00:01:44.240><c> views</c><00:01:44.600><c> expressed</c><00:01:44.960><c> during</c><00:01:45.200><c> this</c>

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items views expressed during this items views expressed during this session<00:01:45.640><c> are</c><00:01:45.920><c> those</c><00:01:46.079><c> of</c><00:01:46.240><c> the</c><00:01:46.399><c> speakers</c><00:01:47.079><c> and</c> session are those of the speakers and session are those of the speakers and are<00:01:47.439><c> intended</c><00:01:47.840><c> for</c><00:01:48.119><c> informational</c><00:01:49.000><c> purposes</c>

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are intended for informational purposes are intended for informational purposes they<00:01:50.119><c> do</c><00:01:50.280><c> not</c><00:01:50.560><c> necessarily</c><00:01:51.159><c> represent</c><00:01:51.560><c> the</c> they do not necessarily represent the they do not necessarily represent the views<00:01:51.920><c> of</c><00:01:52.119><c> the</c><00:01:52.320><c> of</c><00:01:52.520><c> fed</c><00:01:52.719><c> communities</c><00:01:53.240><c> or</c><00:01:53.360><c> the</c>

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views of the of fed communities or the views of the of fed communities or the Federal<00:01:53.799><c> Reserve</c><00:01:54.439><c> System</c><00:01:55.439><c> today's</c><00:01:55.840><c> session</c>

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Federal Reserve System today's session Federal Reserve System today's session will<00:01:56.439><c> include</c><00:01:56.799><c> information</c><00:01:57.200><c> on</c><00:01:57.360><c> the</c> will include information on the will include information on the community<00:01:57.880><c> reinvestment</c><00:01:58.600><c> Act</c><00:01:59.039><c> only</c><00:01:59.320><c> as</c><00:01:59.439><c> it</c>

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community reinvestment Act only as it community reinvestment Act only as it stand stand stand today<00:02:01.520><c> microphones</c><00:02:02.039><c> have</c><00:02:02.159><c> been</c><00:02:02.320><c> muted</c><00:02:03.119><c> please</c>

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today microphones have been muted please today microphones have been muted please use<00:02:03.520><c> the</c><00:02:03.719><c> Q&amp;A</c><00:02:04.159><c> feature</c><00:02:04.520><c> throughout</c><00:02:04.840><c> the</c> use the Q&amp;A feature throughout the use the Q&amp;A feature throughout the session<00:02:05.280><c> to</c><00:02:05.439><c> submit</c><00:02:05.880><c> questions</c><00:02:06.880><c> we</c><00:02:07.119><c> promise</c>

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session to submit questions we promise session to submit questions we promise to<00:02:07.520><c> get</c><00:02:07.640><c> to</c><00:02:07.799><c> as</c><00:02:07.960><c> many</c><00:02:08.200><c> of</c><00:02:08.440><c> them</c><00:02:08.759><c> as</c><00:02:09.039><c> possible</c> to get to as many of them as possible to get to as many of them as possible during<00:02:09.599><c> the</c><00:02:09.759><c> Q&amp;A</c><00:02:10.239><c> portion</c><00:02:10.520><c> of</c><00:02:10.640><c> the</c>

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during the Q&amp;A portion of the during the Q&amp;A portion of the presentation<00:02:12.840><c> keep</c><00:02:13.080><c> the</c><00:02:13.239><c> conversation</c><00:02:13.840><c> going</c>

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presentation keep the conversation going presentation keep the conversation going and<00:02:14.360><c> engage</c><00:02:14.720><c> with</c><00:02:14.879><c> us</c><00:02:15.000><c> on</c><00:02:15.200><c> X</c><00:02:15.640><c> formally</c><00:02:16.080><c> known</c>

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and engage with us on X formally known and engage with us on X formally known as<00:02:16.440><c> Twitter</c><00:02:17.080><c> using</c><00:02:17.400><c> the</c><00:02:17.560><c> hashtag</c><00:02:18.400><c> connecting</c>

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as Twitter using the hashtag connecting as Twitter using the hashtag connecting communities<00:02:19.879><c> and</c><00:02:20.080><c> visit</c><00:02:20.400><c> fed</c><00:02:20.720><c> communities.</c>

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communities and visit fed communities. communities and visit fed communities. org<00:02:22.040><c> for</c><00:02:22.239><c> a</c><00:02:22.400><c> variety</c><00:02:22.879><c> of</c><00:02:23.000><c> CD</c><00:02:23.440><c> articles</c>

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org for a variety of CD articles org for a variety of CD articles resources<00:02:24.879><c> and</c><00:02:25.080><c> data</c><00:02:25.440><c> across</c><00:02:25.680><c> the</c><00:02:25.840><c> Federal</c> resources and data across the Federal resources and data across the Federal Reserve

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Reserve Reserve System<00:02:28.080><c> and</c><00:02:28.280><c> finally</c><00:02:29.120><c> this</c><00:02:29.280><c> session</c><00:02:29.519><c> will</c><00:02:29.680><c> be</c>

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System and finally this session will be System and finally this session will be recorded<00:02:30.760><c> and</c><00:02:30.879><c> the</c><00:02:31.080><c> presentation</c><00:02:31.920><c> video</c><00:02:32.280><c> and</c>

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recorded and the presentation video and recorded and the presentation video and podcasts<00:02:33.400><c> will</c><00:02:33.599><c> be</c><00:02:33.800><c> available</c><00:02:34.200><c> on</c><00:02:34.400><c> fed</c>

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podcasts will be available on fed podcasts will be available on fed communities.<00:02:35.519><c> org</c><00:02:36.040><c> within</c><00:02:36.280><c> two</c><00:02:36.440><c> weeks</c><00:02:36.640><c> of</c>

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communities. org within two weeks of communities. org within two weeks of this<00:02:37.040><c> event</c><00:02:38.040><c> I</c><00:02:38.120><c> would</c><00:02:38.280><c> now</c><00:02:38.440><c> like</c><00:02:38.599><c> to</c><00:02:38.720><c> turn</c><00:02:38.920><c> the</c>

2:39

this event I would now like to turn the this event I would now like to turn the presentation<00:02:39.640><c> over</c><00:02:39.959><c> to</c><00:02:40.120><c> my</c><00:02:40.280><c> Philadelphia</c><00:02:40.879><c> fet</c>

2:41

presentation over to my Philadelphia fet presentation over to my Philadelphia fet colleague<00:02:41.760><c> Elena</c><00:02:42.120><c> Barka</c><00:02:42.879><c> Elena</c><00:02:43.400><c> the</c><00:02:43.480><c> floor</c><00:02:43.720><c> is</c>

2:45

colleague Elena Barka Elena the floor is colleague Elena Barka Elena the floor is yours<00:02:46.800><c> thanks</c><00:02:47.040><c> Sydney</c><00:02:47.400><c> for</c><00:02:47.560><c> the</c><00:02:47.680><c> introduction</c>

2:48

yours thanks Sydney for the introduction yours thanks Sydney for the introduction and<00:02:48.879><c> thanks</c><00:02:49.200><c> to</c><00:02:49.519><c> the</c><00:02:49.760><c> connecting</c><00:02:50.200><c> communities</c>

2:50

and thanks to the connecting communities and thanks to the connecting communities event<00:02:51.000><c> team</c><00:02:51.239><c> for</c><00:02:51.440><c> having</c><00:02:51.720><c> us</c><00:02:52.519><c> and</c><00:02:52.680><c> to</c><00:02:52.920><c> everyone</c>

2:53

event team for having us and to everyone event team for having us and to everyone joining<00:02:53.640><c> us</c><00:02:53.879><c> online</c><00:02:54.200><c> today</c><00:02:55.200><c> in</c><00:02:55.319><c> today's</c>

2:55

joining us online today in today's joining us online today in today's webinar<00:02:56.120><c> we're</c><00:02:56.280><c> going</c><00:02:56.440><c> to</c><00:02:56.640><c> discuss</c><00:02:57.120><c> recent</c> webinar we're going to discuss recent webinar we're going to discuss recent changes<00:02:57.959><c> in</c><00:02:58.080><c> the</c><00:02:58.239><c> landscape</c><00:02:58.800><c> of</c><00:02:58.959><c> Bank</c>

2:59

changes in the landscape of Bank changes in the landscape of Bank branches<00:02:59.599><c> AC</c><00:02:59.840><c> across</c><00:03:00.120><c> the</c><00:03:00.239><c> country</c><00:03:01.159><c> what</c><00:03:01.360><c> that</c>

3:01

branches AC across the country what that branches AC across the country what that could<00:03:01.680><c> mean</c><00:03:01.920><c> for</c><00:03:02.200><c> consumers</c><00:03:03.200><c> and</c><00:03:03.400><c> how</c><00:03:03.560><c> some</c>

3:03

could mean for consumers and how some could mean for consumers and how some financial<00:03:04.280><c> institutions</c><00:03:04.879><c> and</c><00:03:05.080><c> Regulators</c> financial institutions and Regulators financial institutions and Regulators are<00:03:05.920><c> thinking</c><00:03:06.280><c> about</c><00:03:06.480><c> it</c><00:03:06.720><c> and</c><00:03:06.879><c> responding</c><00:03:07.319><c> to</c>

3:07

are thinking about it and responding to are thinking about it and responding to it<00:03:08.319><c> I'm</c><00:03:08.440><c> going</c><00:03:08.560><c> to</c><00:03:08.680><c> kick</c><00:03:08.879><c> us</c><00:03:09.040><c> off</c><00:03:09.319><c> by</c><00:03:09.480><c> setting</c>

3:09

it I'm going to kick us off by setting it I'm going to kick us off by setting the<00:03:09.920><c> stage</c><00:03:10.319><c> of</c><00:03:10.519><c> what</c><00:03:10.640><c> we</c><00:03:10.799><c> know</c><00:03:11.159><c> about</c><00:03:11.400><c> bank</c> the stage of what we know about bank the stage of what we know about bank branch<00:03:12.080><c> Trends</c><00:03:13.080><c> on</c><00:03:13.239><c> the</c><00:03:13.400><c> next</c><00:03:13.640><c> slide</c><00:03:14.360><c> we</c><00:03:14.480><c> show</c>

3:14

branch Trends on the next slide we show branch Trends on the next slide we show the<00:03:14.920><c> number</c><00:03:15.159><c> of</c><00:03:15.319><c> Bank</c><00:03:15.560><c> branches</c><00:03:16.159><c> across</c><00:03:16.480><c> the</c> the number of Bank branches across the the number of Bank branches across the US<00:03:17.000><c> for</c><00:03:17.200><c> the</c><00:03:17.400><c> last</c><00:03:17.680><c> 15</c><00:03:18.040><c> or</c><00:03:18.200><c> so</c><00:03:18.519><c> years</c><00:03:19.519><c> and</c><00:03:19.720><c> what</c>

3:19

US for the last 15 or so years and what US for the last 15 or so years and what the<00:03:19.959><c> chart</c><00:03:20.280><c> shows</c><00:03:20.720><c> is</c><00:03:20.840><c> that</c><00:03:21.000><c> the</c><00:03:21.159><c> number</c><00:03:21.560><c> of</c>

3:21

the chart shows is that the number of the chart shows is that the number of active<00:03:22.319><c> Bank</c><00:03:22.640><c> branches</c><00:03:23.360><c> across</c><00:03:23.640><c> the</c><00:03:23.840><c> country</c>

3:24

active Bank branches across the country active Bank branches across the country was<00:03:24.799><c> on</c><00:03:24.920><c> the</c><00:03:25.120><c> rise</c><00:03:25.560><c> for</c><00:03:25.799><c> most</c><00:03:26.000><c> of</c><00:03:26.159><c> the</c><00:03:26.599><c> 2000s</c>

3:27

was on the rise for most of the 2000s was on the rise for most of the 2000s but<00:03:27.840><c> around</c><00:03:28.560><c> 2009</c><00:03:29.560><c> the</c><00:03:30.080><c> after</c><00:03:30.239><c> the</c><00:03:30.360><c> Great</c>

3:30

but around 2009 the after the Great but around 2009 the after the Great Recession<00:03:31.400><c> the</c><00:03:31.519><c> number</c><00:03:31.720><c> of</c><00:03:31.879><c> branches</c><00:03:32.480><c> began</c>

3:32

Recession the number of branches began Recession the number of branches began to<00:03:33.239><c> steadily</c><00:03:33.840><c> Decline</c><00:03:34.840><c> and</c><00:03:35.040><c> during</c><00:03:35.319><c> the</c>

3:35

to steadily Decline and during the to steadily Decline and during the pandemic<00:03:36.159><c> the</c><00:03:36.360><c> rate</c><00:03:36.720><c> at</c><00:03:36.879><c> which</c><00:03:37.080><c> branches</c><00:03:37.400><c> were</c>

3:37

pandemic the rate at which branches were pandemic the rate at which branches were closing<00:03:38.280><c> accelerated</c><00:03:39.040><c> even</c>

3:39

closing accelerated even closing accelerated even more<00:03:40.799><c> we</c><00:03:40.920><c> don't</c><00:03:41.080><c> know</c><00:03:41.439><c> exactly</c><00:03:41.959><c> what</c><00:03:42.080><c> the</c>

3:42

more we don't know exactly what the more we don't know exactly what the impact<00:03:42.640><c> of</c><00:03:42.799><c> these</c><00:03:43.000><c> closures</c><00:03:43.560><c> is</c><00:03:43.879><c> on</c><00:03:44.120><c> consumers</c>

3:44

impact of these closures is on consumers impact of these closures is on consumers access<00:03:44.959><c> to</c><00:03:45.120><c> banking</c><00:03:46.120><c> but</c><00:03:46.280><c> we</c><00:03:46.400><c> do</c><00:03:46.560><c> know</c><00:03:46.720><c> that</c>

3:46

access to banking but we do know that access to banking but we do know that certain<00:03:47.159><c> consumers</c><00:03:47.680><c> have</c><00:03:48.040><c> stronger</c> certain consumers have stronger certain consumers have stronger preferences<00:03:49.000><c> for</c><00:03:49.200><c> banking</c><00:03:49.519><c> in</c><00:03:49.720><c> person</c>

3:50

preferences for banking in person preferences for banking in person including<00:03:50.840><c> lower</c><00:03:51.159><c> income</c><00:03:51.720><c> rural</c><00:03:52.239><c> older</c><00:03:52.760><c> and</c>

3:52

including lower income rural older and including lower income rural older and disabled<00:03:53.680><c> Consumers</c><00:03:54.680><c> Plus</c><00:03:55.079><c> if</c><00:03:55.239><c> someone</c>

3:55

disabled Consumers Plus if someone disabled Consumers Plus if someone doesn't<00:03:55.840><c> have</c><00:03:56.040><c> full</c><00:03:56.400><c> access</c><00:03:56.640><c> to</c><00:03:56.879><c> digital</c> doesn't have full access to digital doesn't have full access to digital connectivity<00:03:58.239><c> including</c><00:03:58.799><c> access</c><00:03:59.079><c> to</c>

3:59

connectivity including access to connectivity including access to broadband<00:04:00.079><c> a</c><00:04:00.280><c> device</c><00:04:01.000><c> and</c><00:04:01.319><c> digital</c><00:04:01.720><c> skills</c>

4:02

broadband a device and digital skills broadband a device and digital skills they<00:04:02.760><c> might</c><00:04:02.920><c> not</c><00:04:03.079><c> be</c><00:04:03.239><c> able</c><00:04:03.480><c> to</c><00:04:03.680><c> Bank</c><00:04:03.959><c> online</c><00:04:04.680><c> as</c>

4:04

they might not be able to Bank online as they might not be able to Bank online as easily<00:04:05.159><c> as</c><00:04:05.319><c> consumers</c><00:04:05.799><c> that</c><00:04:05.959><c> have</c><00:04:06.120><c> all</c><00:04:06.239><c> of</c> easily as consumers that have all of easily as consumers that have all of those<00:04:06.760><c> tools</c><00:04:07.760><c> so</c><00:04:08.159><c> this</c><00:04:08.360><c> trend</c><00:04:08.720><c> of</c><00:04:08.879><c> bank</c><00:04:09.120><c> branch</c>

4:09

those tools so this trend of bank branch those tools so this trend of bank branch closures<00:04:10.760><c> particularly</c><00:04:11.599><c> its</c><00:04:11.840><c> acceleration</c>

4:12

closures particularly its acceleration closures particularly its acceleration in<00:04:12.680><c> recent</c><00:04:13.000><c> years</c><00:04:13.720><c> could</c><00:04:13.959><c> have</c><00:04:14.120><c> some</c><00:04:14.439><c> serious</c>

4:14

in recent years could have some serious in recent years could have some serious Financial<00:04:15.400><c> inclusion</c><00:04:16.199><c> implications</c><00:04:17.199><c> and</c><00:04:17.359><c> in</c>

4:17

Financial inclusion implications and in Financial inclusion implications and in order<00:04:17.720><c> to</c><00:04:17.880><c> better</c><00:04:18.440><c> understand</c><00:04:18.799><c> how</c><00:04:19.000><c> this</c> order to better understand how this order to better understand how this trend<00:04:19.680><c> is</c><00:04:19.840><c> showing</c><00:04:20.199><c> up</c><00:04:20.440><c> across</c><00:04:21.120><c> communities</c>

4:22

trend is showing up across communities trend is showing up across communities it<00:04:22.240><c> helps</c><00:04:22.520><c> to</c><00:04:22.680><c> use</c><00:04:23.000><c> a</c><00:04:23.160><c> standardized</c><00:04:23.800><c> measure</c>

4:24

it helps to use a standardized measure it helps to use a standardized measure of<00:04:24.479><c> bank</c><00:04:24.759><c> branch</c><00:04:25.479><c> access</c><00:04:26.479><c> at</c><00:04:26.600><c> the</c>

4:26

of bank branch access at the of bank branch access at the Philadelphia<00:04:27.320><c> fed</c><00:04:28.040><c> we've</c><00:04:28.320><c> been</c><00:04:28.560><c> conducting</c>

4:28

Philadelphia fed we've been conducting Philadelphia fed we've been conducting research<00:04:29.400><c> about</c><00:04:29.840><c> banking</c><00:04:30.160><c> deserts</c><00:04:31.039><c> where</c>

4:31

research about banking deserts where research about banking deserts where we're<00:04:31.440><c> doing</c><00:04:31.800><c> just</c><00:04:32.120><c> that</c><00:04:32.639><c> we're</c><00:04:32.840><c> using</c><00:04:33.080><c> a</c> we're doing just that we're using a we're doing just that we're using a measure<00:04:33.560><c> of</c><00:04:33.759><c> bank</c><00:04:33.960><c> branch</c><00:04:34.440><c> access</c><00:04:35.160><c> which</c><00:04:35.320><c> in</c>

4:35

measure of bank branch access which in measure of bank branch access which in our<00:04:35.680><c> case</c><00:04:35.960><c> is</c><00:04:36.160><c> banking</c><00:04:36.560><c> deserts</c><00:04:37.360><c> to</c><00:04:37.680><c> study</c>

4:37

our case is banking deserts to study our case is banking deserts to study where<00:04:38.199><c> bank</c><00:04:38.479><c> branch</c><00:04:38.880><c> closures</c><00:04:39.400><c> are</c><00:04:39.560><c> leaving</c>

4:40

where bank branch closures are leaving where bank branch closures are leaving Geographic<00:04:40.960><c> gaps</c><00:04:41.840><c> and</c><00:04:41.960><c> we're</c><00:04:42.120><c> studying</c>

4:42

Geographic gaps and we're studying Geographic gaps and we're studying whether<00:04:42.840><c> those</c><00:04:43.120><c> gaps</c><00:04:43.520><c> differ</c><00:04:44.039><c> for</c><00:04:44.240><c> the</c><00:04:44.360><c> groups</c>

4:44

whether those gaps differ for the groups whether those gaps differ for the groups I<00:04:44.759><c> mentioned</c><00:04:45.160><c> earlier</c><00:04:46.039><c> who</c><00:04:46.199><c> may</c><00:04:46.600><c> prefer</c><00:04:47.039><c> or</c>

4:47

I mentioned earlier who may prefer or I mentioned earlier who may prefer or need<00:04:47.600><c> to</c><00:04:47.800><c> Bank</c><00:04:48.039><c> in</c><00:04:48.240><c> person</c><00:04:49.199><c> as</c><00:04:49.360><c> well</c><00:04:49.680><c> as</c><00:04:50.000><c> more</c>

4:50

need to Bank in person as well as more need to Bank in person as well as more generally<00:04:51.199><c> whether</c><00:04:51.440><c> they</c><00:04:51.600><c> differ</c><00:04:51.919><c> in</c><00:04:52.080><c> places</c>

4:52

generally whether they differ in places generally whether they differ in places with<00:04:52.680><c> more</c><00:04:53.039><c> unbanked</c><00:04:53.520><c> and</c><00:04:53.680><c> underbanked</c>

4:55

with more unbanked and underbanked with more unbanked and underbanked populations<00:04:56.080><c> so</c><00:04:56.400><c> on</c><00:04:56.560><c> the</c><00:04:56.720><c> next</c><00:04:56.960><c> slide</c><00:04:57.880><c> we</c><00:04:58.039><c> show</c>

4:58

populations so on the next slide we show populations so on the next slide we show how<00:04:58.479><c> we're</c><00:04:58.720><c> defining</c><00:04:59.199><c> banking</c><00:04:59.720><c> deserts</c><00:05:00.080><c> in</c> how we're defining banking deserts in how we're defining banking deserts in this<00:05:00.360><c> work</c><00:05:01.240><c> we</c><00:05:01.400><c> use</c><00:05:01.680><c> a</c><00:05:01.840><c> measure</c><00:05:02.199><c> of</c><00:05:02.360><c> banking</c>

5:02

this work we use a measure of banking this work we use a measure of banking deserts<00:05:03.199><c> by</c><00:05:03.360><c> census</c><00:05:03.800><c> tract</c><00:05:04.440><c> a</c><00:05:04.560><c> census</c><00:05:04.960><c> tract</c>

5:05

deserts by census tract a census tract deserts by census tract a census tract is<00:05:05.720><c> an</c><00:05:05.960><c> area</c><00:05:06.320><c> with</c><00:05:06.520><c> about</c><00:05:06.759><c> 4,000</c><00:05:07.400><c> people</c><00:05:07.720><c> in</c><00:05:07.840><c> it</c>

5:08

is an area with about 4,000 people in it is an area with about 4,000 people in it you<00:05:08.160><c> can</c><00:05:08.320><c> think</c><00:05:08.479><c> of</c><00:05:08.600><c> it</c><00:05:08.840><c> kind</c><00:05:09.000><c> of</c><00:05:09.160><c> like</c><00:05:09.240><c> a</c> you can think of it kind of like a you can think of it kind of like a neighborhood<00:05:10.840><c> so</c><00:05:11.320><c> a</c><00:05:11.479><c> banking</c><00:05:11.840><c> desert</c><00:05:12.240><c> is</c><00:05:12.360><c> a</c>

5:12

neighborhood so a banking desert is a neighborhood so a banking desert is a census<00:05:12.919><c> tract</c><00:05:13.440><c> without</c><00:05:13.639><c> a</c><00:05:13.800><c> bank</c><00:05:14.080><c> branch</c>

5:14

census tract without a bank branch census tract without a bank branch within<00:05:14.840><c> it</c><00:05:15.400><c> or</c><00:05:15.720><c> within</c><00:05:16.120><c> a</c><00:05:16.240><c> certain</c><00:05:16.639><c> radius</c>

5:17

within it or within a certain radius within it or within a certain radius from<00:05:17.320><c> its</c><00:05:17.600><c> population</c><00:05:18.160><c> Center</c><00:05:19.080><c> and</c><00:05:19.240><c> that</c>

5:19

from its population Center and that from its population Center and that radius<00:05:20.199><c> varies</c><00:05:20.759><c> based</c><00:05:21.000><c> on</c><00:05:21.120><c> the</c><00:05:21.240><c> type</c><00:05:21.440><c> of</c><00:05:21.560><c> tract</c>

5:22

radius varies based on the type of tract radius varies based on the type of tract since<00:05:22.520><c> Transit</c><00:05:23.000><c> and</c><00:05:23.199><c> travel</c><00:05:23.520><c> distances</c><00:05:24.440><c> can</c>

5:24

since Transit and travel distances can since Transit and travel distances can differ<00:05:25.120><c> a</c><00:05:25.280><c> lot</c><00:05:25.680><c> across</c><00:05:26.280><c> different</c>

5:26

differ a lot across different differ a lot across different geographies<00:05:28.000><c> so</c><00:05:28.520><c> if</c><00:05:28.639><c> the</c><00:05:28.759><c> census</c><00:05:29.160><c> track</c><00:05:29.520><c> is</c><00:05:29.800><c> in</c>

5:29

geographies so if the census track is in geographies so if the census track is in an<00:05:30.080><c> urban</c><00:05:30.479><c> area</c><00:05:31.360><c> the</c><00:05:31.479><c> radius</c><00:05:31.800><c> we</c><00:05:31.960><c> draw</c><00:05:32.160><c> around</c>

5:32

an urban area the radius we draw around an urban area the radius we draw around it<00:05:32.560><c> is</c><00:05:32.720><c> 2</c><00:05:33.000><c> miles</c><00:05:33.880><c> if</c><00:05:34.000><c> it's</c><00:05:34.199><c> Suburban</c><00:05:34.840><c> we</c><00:05:34.960><c> use</c><00:05:35.120><c> a</c>

5:35

it is 2 miles if it's Suburban we use a it is 2 miles if it's Suburban we use a 5<00:05:35.639><c> mile</c><00:05:36.000><c> radius</c><00:05:36.960><c> and</c><00:05:37.080><c> if</c><00:05:37.199><c> it's</c><00:05:37.319><c> a</c><00:05:37.440><c> rural</c><00:05:37.880><c> tra</c><00:05:38.240><c> we</c>

5:38

5 mile radius and if it's a rural tra we 5 mile radius and if it's a rural tra we use<00:05:38.520><c> a</c><00:05:38.639><c> 10</c><00:05:38.919><c> mile</c><00:05:39.479><c> radius</c><00:05:40.479><c> we</c><00:05:40.600><c> also</c><00:05:40.800><c> use</c><00:05:41.000><c> the</c>

5:41

use a 10 mile radius we also use the use a 10 mile radius we also use the term<00:05:41.440><c> potential</c><00:05:41.840><c> banking</c><00:05:42.199><c> desert</c><00:05:42.919><c> to</c>

5:43

term potential banking desert to term potential banking desert to identify<00:05:43.759><c> tracks</c><00:05:44.199><c> at</c><00:05:44.400><c> risk</c><00:05:44.680><c> of</c><00:05:44.880><c> becoming</c><00:05:45.199><c> a</c>

5:45

identify tracks at risk of becoming a identify tracks at risk of becoming a banking<00:05:45.680><c> desert</c><00:05:46.440><c> and</c><00:05:46.560><c> those</c><00:05:46.720><c> are</c><00:05:46.880><c> tracks</c><00:05:47.280><c> with</c>

5:47

banking desert and those are tracks with banking desert and those are tracks with only<00:05:47.759><c> one</c><00:05:48.080><c> bank</c><00:05:48.400><c> branch</c><00:05:49.000><c> within</c><00:05:49.360><c> them</c><00:05:49.600><c> or</c>

5:49

only one bank branch within them or only one bank branch within them or within<00:05:50.080><c> that</c><00:05:50.280><c> same</c><00:05:50.919><c> radius</c><00:05:51.919><c> you</c><00:05:52.039><c> should</c><00:05:52.240><c> see</c>

5:52

within that same radius you should see within that same radius you should see an<00:05:52.639><c> option</c><00:05:53.039><c> to</c><00:05:53.319><c> complete</c><00:05:53.720><c> our</c><00:05:53.880><c> first</c><00:05:54.080><c> polling</c>

5:54

an option to complete our first polling an option to complete our first polling question<00:05:55.400><c> which</c><00:05:55.639><c> asks</c><00:05:56.080><c> how</c><00:05:56.360><c> far</c><00:05:56.639><c> the</c><00:05:56.800><c> nearest</c>

5:57

question which asks how far the nearest question which asks how far the nearest bank<00:05:57.400><c> branch</c><00:05:57.840><c> is</c><00:05:58.080><c> from</c><00:05:58.199><c> the</c><00:05:58.360><c> neighborhoods</c> bank branch is from the neighborhoods bank branch is from the neighborhoods that<00:05:59.080><c> your</c><00:05:59.319><c> organ</c><00:05:59.600><c> organization</c><00:06:00.280><c> serves</c><00:06:01.280><c> if</c>

6:01

that your organ organization serves if that your organ organization serves if residents<00:06:01.919><c> in</c><00:06:02.039><c> the</c><00:06:02.199><c> communities</c><00:06:02.680><c> you</c><00:06:02.840><c> serve</c> residents in the communities you serve residents in the communities you serve need<00:06:03.560><c> to</c><00:06:03.759><c> travel</c><00:06:04.360><c> further</c><00:06:05.039><c> than</c><00:06:05.400><c> 2</c><00:06:05.960><c> five</c><00:06:06.319><c> or</c><00:06:06.520><c> 10</c>

6:06

need to travel further than 2 five or 10 need to travel further than 2 five or 10 miles<00:06:07.599><c> to</c><00:06:07.720><c> a</c><00:06:07.840><c> bank</c><00:06:08.080><c> branch</c><00:06:08.800><c> depending</c><00:06:09.120><c> on</c>

6:09

miles to a bank branch depending on miles to a bank branch depending on whether<00:06:09.520><c> they</c><00:06:09.680><c> live</c><00:06:09.880><c> in</c><00:06:10.000><c> an</c><00:06:10.160><c> urban</c><00:06:10.560><c> Suburban</c> whether they live in an urban Suburban whether they live in an urban Suburban or<00:06:11.199><c> rural</c><00:06:11.560><c> community</c><00:06:12.440><c> they</c><00:06:12.639><c> might</c><00:06:12.800><c> live</c><00:06:12.960><c> in</c><00:06:13.039><c> a</c>

6:13

or rural community they might live in a or rural community they might live in a banking<00:06:13.759><c> desert</c><00:06:14.759><c> while</c><00:06:14.919><c> folks</c><00:06:15.240><c> still</c><00:06:15.479><c> at</c><00:06:15.720><c> that</c>

6:15

banking desert while folks still at that banking desert while folks still at that poll<00:06:16.280><c> I'll</c><00:06:16.479><c> jump</c><00:06:16.680><c> to</c><00:06:16.800><c> the</c><00:06:16.960><c> next</c>

6:18

poll I'll jump to the next poll I'll jump to the next slide<00:06:19.160><c> so</c><00:06:20.160><c> using</c><00:06:20.520><c> this</c><00:06:20.759><c> definition</c><00:06:21.360><c> of</c>

6:21

slide so using this definition of slide so using this definition of banking<00:06:21.919><c> deserts</c><00:06:22.919><c> findings</c><00:06:23.520><c> from</c><00:06:23.960><c> our</c><00:06:24.280><c> recent</c>

6:24

banking deserts findings from our recent banking deserts findings from our recent research<00:06:25.280><c> showed</c><00:06:25.960><c> that</c><00:06:26.199><c> since</c><00:06:26.479><c> the</c><00:06:26.680><c> onset</c><00:06:27.120><c> of</c>

6:27

research showed that since the onset of research showed that since the onset of the<00:06:27.479><c> pandemic</c><00:06:28.479><c> the</c><00:06:28.639><c> total</c><00:06:28.960><c> number</c><00:06:29.199><c> of</c><00:06:29.360><c> Bank</c>

6:29

the pandemic the total number of Bank the pandemic the total number of Bank branches<00:06:30.199><c> in</c><00:06:30.319><c> the</c><00:06:30.479><c> US</c><00:06:31.000><c> declined</c><00:06:31.560><c> by</c>

6:32

branches in the US declined by branches in the US declined by 5.6%<00:06:34.000><c> the</c><00:06:34.120><c> number</c><00:06:34.400><c> of</c><00:06:34.560><c> banking</c><00:06:34.919><c> deserts</c>

6:35

5.6% the number of banking deserts 5.6% the number of banking deserts increased<00:06:36.000><c> by</c> increased by increased by 2117<00:06:37.960><c> up</c><00:06:38.120><c> to</c><00:06:38.360><c> about</c><00:06:38.880><c> 3600</c><00:06:39.960><c> tracks</c><00:06:40.960><c> and</c><00:06:41.120><c> the</c>

6:41

2117 up to about 3600 tracks and the 2117 up to about 3600 tracks and the population<00:06:41.800><c> living</c><00:06:42.080><c> in</c><00:06:42.240><c> deserts</c><00:06:42.759><c> increased</c>

6:43

population living in deserts increased population living in deserts increased by<00:06:43.560><c> over</c> by over by over 760,000<00:06:46.120><c> up</c><00:06:46.280><c> to</c><00:06:46.520><c> about</c><00:06:46.800><c> 12.3</c><00:06:47.720><c> million</c><00:06:48.199><c> people</c>

6:48

760,000 up to about 12.3 million people 760,000 up to about 12.3 million people living<00:06:48.880><c> in</c><00:06:49.000><c> a</c><00:06:49.080><c> banking</c><00:06:49.639><c> desert</c><00:06:50.639><c> we</c><00:06:50.800><c> also</c><00:06:51.039><c> show</c>

6:51

living in a banking desert we also show living in a banking desert we also show in<00:06:51.639><c> our</c><00:06:51.880><c> research</c><00:06:52.599><c> how</c><00:06:52.800><c> these</c><00:06:53.000><c> results</c><00:06:53.440><c> differ</c>

6:53

in our research how these results differ in our research how these results differ across<00:06:54.360><c> different</c><00:06:54.720><c> communities</c><00:06:55.720><c> and</c><00:06:55.960><c> that</c>

6:56

across different communities and that across different communities and that there's<00:06:56.720><c> quite</c><00:06:56.919><c> a</c><00:06:57.039><c> bit</c><00:06:57.160><c> of</c><00:06:57.360><c> nuance</c><00:06:57.840><c> in</c><00:06:57.960><c> the</c> there's quite a bit of nuance in the there's quite a bit of nuance in the trends<00:06:59.039><c> for</c><00:06:59.199><c> example</c><00:06:59.759><c> Le</c><00:07:00.360><c> most</c><00:07:00.599><c> deserts</c><00:07:01.000><c> have</c>

7:01

trends for example Le most deserts have trends for example Le most deserts have been<00:07:01.280><c> forming</c><00:07:01.960><c> in</c><00:07:02.280><c> higher</c><00:07:02.599><c> inome</c><00:07:03.199><c> suburban</c>

7:03

been forming in higher inome suburban been forming in higher inome suburban and<00:07:04.080><c> predominantly</c><00:07:04.759><c> white</c><00:07:05.039><c> areas</c><00:07:06.000><c> but</c><00:07:06.680><c> the</c>

7:06

and predominantly white areas but the and predominantly white areas but the pace<00:07:07.080><c> of</c><00:07:07.280><c> desert</c><00:07:07.720><c> growth</c><00:07:08.160><c> in</c><00:07:08.400><c> predominantly</c>

7:08

pace of desert growth in predominantly pace of desert growth in predominantly black<00:07:09.319><c> communities</c><00:07:10.000><c> was</c><00:07:10.280><c> faster</c><00:07:10.840><c> than</c><00:07:10.960><c> the</c>

7:11

black communities was faster than the black communities was faster than the national national national average<00:07:13.240><c> residents</c><00:07:13.720><c> of</c><00:07:13.919><c> majority</c><00:07:14.560><c> American</c>

7:14

average residents of majority American average residents of majority American Indian<00:07:15.599><c> and</c><00:07:15.720><c> Alaskan</c><00:07:16.199><c> native</c><00:07:16.560><c> communities</c>

7:17

Indian and Alaskan native communities Indian and Alaskan native communities were<00:07:17.440><c> 12</c><00:07:17.960><c> times</c><00:07:18.440><c> more</c><00:07:18.720><c> likely</c><00:07:19.160><c> to</c><00:07:19.319><c> live</c><00:07:19.560><c> in</c><00:07:19.639><c> a</c>

7:19

were 12 times more likely to live in a were 12 times more likely to live in a banking<00:07:20.120><c> desert</c><00:07:20.599><c> in</c><00:07:20.960><c> 2023</c><00:07:21.960><c> compared</c><00:07:22.319><c> to</c><00:07:22.440><c> the</c>

7:22

banking desert in 2023 compared to the banking desert in 2023 compared to the national<00:07:23.039><c> average</c><00:07:24.039><c> and</c><00:07:24.800><c> populations</c><00:07:25.360><c> living</c>

7:25

national average and populations living national average and populations living in<00:07:25.800><c> areas</c><00:07:26.199><c> with</c><00:07:26.360><c> low</c><00:07:26.680><c> device</c><00:07:27.039><c> or</c><00:07:27.240><c> Broadband</c>

7:27

in areas with low device or Broadband in areas with low device or Broadband access<00:07:28.680><c> as</c><00:07:28.879><c> well</c><00:07:29.120><c> as</c><00:07:29.560><c> areas</c><00:07:29.879><c> with</c><00:07:30.160><c> high</c>

7:30

access as well as areas with high access as well as areas with high concentrations<00:07:31.280><c> of</c><00:07:31.479><c> older</c><00:07:32.039><c> or</c><00:07:32.280><c> disabled</c>

7:32

concentrations of older or disabled concentrations of older or disabled residents<00:07:33.680><c> were</c><00:07:33.960><c> all</c><00:07:34.199><c> more</c><00:07:34.479><c> likely</c><00:07:34.759><c> to</c><00:07:34.960><c> live</c>

7:35

residents were all more likely to live residents were all more likely to live in<00:07:35.280><c> a</c><00:07:35.400><c> banking</c><00:07:35.720><c> desert</c><00:07:36.039><c> too</c><00:07:36.879><c> next</c><00:07:37.080><c> slide</c>

7:39

in a banking desert too next slide in a banking desert too next slide please<00:07:40.080><c> so</c><00:07:40.759><c> big</c><00:07:41.120><c> picture</c><00:07:42.120><c> the</c><00:07:42.280><c> research</c><00:07:42.680><c> shows</c>

7:43

please so big picture the research shows please so big picture the research shows that<00:07:43.599><c> banking</c><00:07:44.000><c> deserts</c><00:07:44.560><c> are</c><00:07:44.759><c> on</c><00:07:44.960><c> the</c><00:07:45.120><c> rise</c><00:07:46.039><c> and</c>

7:46

that banking deserts are on the rise and that banking deserts are on the rise and how<00:07:46.520><c> they</c><00:07:46.639><c> show</c><00:07:46.919><c> up</c><00:07:47.240><c> across</c><00:07:47.680><c> communities</c><00:07:48.440><c> is</c>

7:49

how they show up across communities is how they show up across communities is localized<00:07:50.199><c> we</c><00:07:50.319><c> wanted</c><00:07:50.599><c> to</c><00:07:50.759><c> give</c><00:07:51.000><c> stakeholders</c>

7:51

localized we wanted to give stakeholders localized we wanted to give stakeholders of<00:07:51.800><c> this</c><00:07:51.960><c> work</c><00:07:52.319><c> the</c><00:07:52.479><c> ability</c><00:07:52.840><c> to</c><00:07:53.039><c> explore</c>

7:53

of this work the ability to explore of this work the ability to explore their<00:07:53.879><c> community's</c><00:07:54.400><c> banking</c><00:07:54.720><c> deserts</c><00:07:55.199><c> for</c>

7:55

their community's banking deserts for their community's banking deserts for themselves<00:07:56.680><c> so</c><00:07:56.840><c> we</c><00:07:57.039><c> partnered</c><00:07:57.520><c> with</c><00:07:57.720><c> fed</c>

7:58

themselves so we partnered with fed themselves so we partnered with fed communities<00:07:58.800><c> and</c><00:07:59.000><c> fed</c><00:07:59.520><c> system</c><00:07:59.919><c> colleagues</c><00:08:00.759><c> to</c>

8:01

communities and fed system colleagues to communities and fed system colleagues to create<00:08:01.520><c> an</c><00:08:01.759><c> interactive</c><00:08:02.440><c> mapping</c><00:08:02.960><c> dashboard</c>

8:03

create an interactive mapping dashboard create an interactive mapping dashboard of<00:08:04.000><c> banking</c><00:08:04.400><c> deserts</c><00:08:04.919><c> across</c><00:08:05.240><c> the</c><00:08:05.599><c> country</c>

8:06

of banking deserts across the country of banking deserts across the country I'm<00:08:06.759><c> going</c><00:08:06.960><c> to</c><00:08:07.280><c> jump</c><00:08:07.639><c> over</c><00:08:07.759><c> to</c><00:08:07.919><c> the</c><00:08:08.159><c> dashboard</c>

8:08

I'm going to jump over to the dashboard I'm going to jump over to the dashboard to<00:08:08.840><c> do</c><00:08:09.039><c> a</c><00:08:09.240><c> quick</c><00:08:09.520><c> demo</c><00:08:09.919><c> of</c><00:08:10.080><c> its</c>

8:18

features the banking deserts dashboard features the banking deserts dashboard is<00:08:18.440><c> publicly</c><00:08:19.039><c> available</c><00:08:19.800><c> on</c><00:08:20.039><c> fed</c><00:08:20.360><c> community's</c>

8:20

is publicly available on fed community's is publicly available on fed community's website<00:08:22.000><c> and</c><00:08:22.159><c> when</c><00:08:22.280><c> you</c><00:08:22.440><c> get</c><00:08:22.520><c> to</c><00:08:22.680><c> the</c><00:08:22.879><c> page</c>

8:23

website and when you get to the page website and when you get to the page you're<00:08:23.240><c> greeted</c><00:08:23.720><c> with</c><00:08:23.840><c> some</c><00:08:24.080><c> background</c> you're greeted with some background you're greeted with some background information<00:08:25.039><c> on</c><00:08:25.199><c> banking</c><00:08:25.720><c> deserts</c><00:08:26.720><c> when</c><00:08:26.879><c> you</c>

8:26

information on banking deserts when you information on banking deserts when you scroll<00:08:27.400><c> down</c><00:08:27.800><c> you</c><00:08:27.919><c> can</c><00:08:28.039><c> see</c><00:08:28.240><c> the</c><00:08:28.440><c> dashboard</c>

8:29

scroll down you can see the dashboard scroll down you can see the dashboard and<00:08:29.960><c> you</c><00:08:30.080><c> can</c><00:08:30.240><c> make</c><00:08:30.360><c> it</c><00:08:30.520><c> full</c>

8:32

and you can make it full and you can make it full screen<00:08:33.279><c> we</c><00:08:33.599><c> prioritize</c><00:08:34.360><c> accessibility</c><00:08:35.159><c> in</c>

8:35

screen we prioritize accessibility in screen we prioritize accessibility in our<00:08:35.479><c> color</c><00:08:35.800><c> palettes</c><00:08:36.599><c> so</c><00:08:36.880><c> the</c><00:08:37.039><c> dashboard</c><00:08:37.680><c> Maps</c>

8:38

our color palettes so the dashboard Maps our color palettes so the dashboard Maps banking<00:08:38.599><c> deserts</c><00:08:39.039><c> in</c><00:08:39.240><c> red</c><00:08:40.200><c> potential</c><00:08:40.640><c> deserts</c>

8:41

banking deserts in red potential deserts banking deserts in red potential deserts in<00:08:41.200><c> blue</c><00:08:41.680><c> and</c><00:08:41.919><c> areas</c><00:08:42.240><c> that</c><00:08:42.360><c> are</c><00:08:42.560><c> neither</c><00:08:43.039><c> in</c>

8:43

in blue and areas that are neither in in blue and areas that are neither in Gray<00:08:44.440><c> there's</c><00:08:44.800><c> Dynamic</c><00:08:45.279><c> text</c><00:08:45.680><c> at</c><00:08:45.800><c> the</c><00:08:46.000><c> top</c>

8:46

Gray there's Dynamic text at the top Gray there's Dynamic text at the top that<00:08:46.480><c> changes</c><00:08:46.920><c> when</c><00:08:47.080><c> we</c><00:08:47.240><c> filter</c><00:08:47.640><c> for</c><00:08:47.880><c> state</c> that changes when we filter for state that changes when we filter for state and<00:08:48.440><c> year</c><00:08:49.160><c> that</c><00:08:49.320><c> tells</c><00:08:49.600><c> us</c><00:08:49.839><c> the</c><00:08:50.000><c> proportion</c><00:08:50.440><c> of</c>

8:50

and year that tells us the proportion of and year that tells us the proportion of census<00:08:50.959><c> tracks</c><00:08:51.279><c> in</c><00:08:51.399><c> a</c><00:08:51.600><c> geography</c><00:08:52.200><c> that</c><00:08:52.320><c> are</c> census tracks in a geography that are census tracks in a geography that are deserts<00:08:53.040><c> and</c><00:08:53.240><c> potential</c><00:08:53.680><c> deserts</c><00:08:54.560><c> the</c><00:08:54.760><c> rural</c>

8:55

deserts and potential deserts the rural deserts and potential deserts the rural urban<00:08:55.480><c> breakdown</c><00:08:56.480><c> the</c><00:08:56.640><c> percent</c><00:08:57.040><c> with</c><00:08:57.200><c> limited</c>

8:57

urban breakdown the percent with limited urban breakdown the percent with limited Broadband<00:08:58.120><c> access</c><00:08:58.959><c> and</c><00:08:59.160><c> a</c><00:08:59.640><c> ethnicity</c>

9:00

Broadband access and a ethnicity Broadband access and a ethnicity breakdown<00:09:00.560><c> as</c><00:09:01.079><c> well</c><00:09:02.079><c> we</c><00:09:02.200><c> can</c><00:09:02.399><c> filter</c><00:09:02.800><c> by</c><00:09:03.000><c> state</c>

9:03

breakdown as well we can filter by state breakdown as well we can filter by state so<00:09:04.079><c> I'm</c><00:09:04.240><c> going</c><00:09:04.399><c> to</c><00:09:04.560><c> filter</c><00:09:05.079><c> for</c>

9:11

Indiana we can highlight a county so I'm Indiana we can highlight a county so I'm going<00:09:12.360><c> to</c><00:09:13.040><c> highlight</c><00:09:13.480><c> Marian</c>

9:15

going to highlight Marian going to highlight Marian County<00:09:16.079><c> and</c><00:09:16.320><c> we</c><00:09:16.399><c> can</c><00:09:16.600><c> zoom</c><00:09:16.920><c> in</c><00:09:17.200><c> to</c><00:09:17.560><c> identify</c>

9:18

County and we can zoom in to identify County and we can zoom in to identify the<00:09:18.240><c> communities</c><00:09:18.800><c> that</c><00:09:18.920><c> we're</c><00:09:19.120><c> interested</c><00:09:19.519><c> in</c>

9:20

the communities that we're interested in the communities that we're interested in so<00:09:20.519><c> I'm</c><00:09:20.640><c> going</c><00:09:20.800><c> to</c><00:09:21.000><c> zoom</c><00:09:21.360><c> in</c><00:09:21.760><c> to</c><00:09:22.079><c> a</c><00:09:22.240><c> census</c>

9:22

so I'm going to zoom in to a census so I'm going to zoom in to a census tract<00:09:23.000><c> in</c><00:09:23.160><c> North</c><00:09:23.519><c> Indianapolis</c><00:09:24.279><c> Indiana</c>

9:33

and when I hover over the tract we can and when I hover over the tract we can see<00:09:33.399><c> that</c><00:09:33.519><c> in</c><00:09:34.120><c> 2023</c><00:09:35.120><c> this</c><00:09:35.279><c> census</c><00:09:35.720><c> tract</c><00:09:36.000><c> is</c><00:09:36.120><c> a</c>

9:36

see that in 2023 this census tract is a see that in 2023 this census tract is a banking<00:09:36.560><c> desert</c><00:09:37.560><c> that</c><00:09:37.720><c> the</c><00:09:38.040><c> closest</c><00:09:38.480><c> branch</c>

9:38

banking desert that the closest branch banking desert that the closest branch is<00:09:39.000><c> 2</c><00:09:39.240><c> miles</c><00:09:39.600><c> away</c><00:09:40.360><c> and</c><00:09:40.480><c> we</c><00:09:40.600><c> can</c><00:09:40.720><c> also</c><00:09:40.920><c> see</c>

9:41

is 2 miles away and we can also see is 2 miles away and we can also see demographic<00:09:41.839><c> information</c><00:09:42.279><c> about</c><00:09:42.440><c> the</c><00:09:42.560><c> tracks</c> demographic information about the tracks demographic information about the tracks including<00:09:43.560><c> its</c><00:09:43.880><c> population</c><00:09:44.880><c> majority</c><00:09:45.360><c> race</c>

9:46

including its population majority race including its population majority race whether<00:09:46.360><c> it's</c><00:09:46.480><c> a</c><00:09:46.600><c> low</c><00:09:46.839><c> to</c><00:09:47.000><c> moderate</c><00:09:47.360><c> income</c> whether it's a low to moderate income whether it's a low to moderate income tract<00:09:48.640><c> and</c><00:09:48.880><c> the</c><00:09:49.079><c> percentage</c><00:09:49.440><c> of</c><00:09:49.600><c> residents</c>

9:50

tract and the percentage of residents tract and the percentage of residents without<00:09:50.399><c> access</c><00:09:50.640><c> to</c><00:09:51.240><c> broadband</c><00:09:52.240><c> if</c><00:09:52.360><c> I</c><00:09:52.480><c> wanted</c>

9:52

without access to broadband if I wanted without access to broadband if I wanted to<00:09:52.839><c> know</c><00:09:53.040><c> when</c><00:09:53.200><c> this</c><00:09:53.399><c> tract</c><00:09:53.800><c> became</c><00:09:54.079><c> a</c><00:09:54.240><c> desert</c>

9:54

to know when this tract became a desert to know when this tract became a desert I<00:09:55.079><c> could</c><00:09:55.240><c> go</c><00:09:55.440><c> back</c><00:09:55.720><c> as</c><00:09:55.959><c> far</c><00:09:56.240><c> as</c><00:09:56.480><c> 2019</c>

10:02

and when I do that you'll see that in and when I do that you'll see that in 2019<00:10:03.279><c> this</c><00:10:03.440><c> tract</c><00:10:03.800><c> wasn't</c><00:10:04.079><c> a</c><00:10:04.240><c> desert</c><00:10:04.600><c> or</c><00:10:04.800><c> a</c>

10:04

2019 this tract wasn't a desert or a 2019 this tract wasn't a desert or a potential<00:10:05.360><c> desert</c><00:10:06.040><c> it</c><00:10:06.240><c> actually</c><00:10:06.519><c> had</c><00:10:06.800><c> three</c>

10:07

potential desert it actually had three potential desert it actually had three branches<00:10:07.640><c> within</c><00:10:07.880><c> its</c><00:10:08.519><c> radius</c><00:10:09.519><c> if</c><00:10:09.640><c> we</c><00:10:09.800><c> change</c>

10:10

branches within its radius if we change branches within its radius if we change our<00:10:10.399><c> year</c><00:10:10.640><c> to</c>

10:16

2020 we can see that by the end of 2020 2020 we can see that by the end of 2020 two<00:10:16.920><c> of</c><00:10:17.120><c> those</c><00:10:17.320><c> three</c><00:10:17.560><c> branches</c><00:10:18.000><c> had</c><00:10:18.200><c> closed</c>

10:18

two of those three branches had closed two of those three branches had closed and<00:10:19.079><c> the</c><00:10:19.200><c> tract</c><00:10:19.560><c> became</c><00:10:19.880><c> a</c><00:10:20.000><c> potential</c><00:10:20.839><c> desert</c>

10:21

and the tract became a potential desert and the tract became a potential desert and<00:10:22.120><c> finally</c><00:10:22.720><c> when</c><00:10:22.839><c> we</c><00:10:22.959><c> jumped</c><00:10:23.240><c> to</c>

10:28

2021 we can see that this tract became a 2021 we can see that this tract became a desert<00:10:29.000><c> by</c><00:10:29.120><c> the</c><00:10:29.399><c> end</c><00:10:29.560><c> of</c><00:10:29.760><c> 2021</c><00:10:30.760><c> so</c><00:10:30.959><c> that</c><00:10:31.160><c> last</c>

10:31

desert by the end of 2021 so that last desert by the end of 2021 so that last branch<00:10:31.839><c> has</c><00:10:32.040><c> now</c><00:10:32.240><c> closed</c><00:10:32.920><c> and</c><00:10:33.120><c> residents</c><00:10:33.480><c> of</c>

10:33

branch has now closed and residents of branch has now closed and residents of this<00:10:33.880><c> community</c><00:10:34.720><c> have</c><00:10:34.839><c> to</c><00:10:35.040><c> travel</c><00:10:35.360><c> more</c><00:10:35.519><c> than</c>

10:35

this community have to travel more than this community have to travel more than two<00:10:35.959><c> miles</c><00:10:36.399><c> to</c><00:10:36.560><c> get</c><00:10:36.680><c> to</c><00:10:36.800><c> the</c><00:10:36.920><c> closest</c><00:10:37.320><c> bank</c> two miles to get to the closest bank two miles to get to the closest bank branch<00:10:38.560><c> so</c><00:10:38.760><c> that's</c><00:10:38.880><c> a</c><00:10:39.079><c> highlevel</c><00:10:39.639><c> overview</c><00:10:40.240><c> of</c>

10:40

branch so that's a highlevel overview of branch so that's a highlevel overview of the<00:10:40.519><c> functionalities</c><00:10:41.160><c> of</c><00:10:41.279><c> the</c><00:10:41.480><c> dashboard</c><00:10:42.480><c> we</c>

10:42

the functionalities of the dashboard we the functionalities of the dashboard we also<00:10:42.839><c> have</c><00:10:43.040><c> resources</c><00:10:43.560><c> on</c><00:10:43.680><c> the</c><00:10:43.839><c> web</c><00:10:44.079><c> page</c> also have resources on the web page also have resources on the web page about<00:10:44.720><c> Trends</c><00:10:45.440><c> definitions</c><00:10:46.399><c> and</c><00:10:46.600><c> related</c>

10:47

about Trends definitions and related about Trends definitions and related Publications<00:10:48.360><c> as</c><00:10:48.519><c> well</c><00:10:48.839><c> as</c><00:10:49.160><c> a</c><00:10:49.360><c> fully</c><00:10:49.880><c> public</c>

10:50

Publications as well as a fully public Publications as well as a fully public supplemental<00:10:51.440><c> data</c><00:10:51.800><c> appendix</c><00:10:52.720><c> available</c><00:10:53.160><c> for</c>

10:53

supplemental data appendix available for supplemental data appendix available for download<00:10:53.880><c> at</c><00:10:54.000><c> the</c><00:10:54.120><c> very</c><00:10:54.320><c> bottom</c><00:10:54.560><c> of</c><00:10:54.680><c> the</c><00:10:54.920><c> page</c>

10:55

download at the very bottom of the page download at the very bottom of the page I'm<00:10:56.079><c> now</c><00:10:56.200><c> going</c><00:10:56.279><c> to</c><00:10:56.480><c> pass</c><00:10:56.680><c> things</c><00:10:56.959><c> over</c><00:10:57.160><c> to</c> I'm now going to pass things over to I'm now going to pass things over to Caleb<00:10:58.040><c> to</c><00:10:58.279><c> talk</c><00:10:58.519><c> more</c><00:10:58.800><c> about</c><00:10:59.279><c> resarch</c><00:10:59.600><c> on</c><00:10:59.720><c> the</c>

10:59

Caleb to talk more about resarch on the Caleb to talk more about resarch on the importance<00:11:00.240><c> of</c><00:11:00.399><c> Bank</c>

11:05

branches Thanks Elena and thanks branches Thanks Elena and thanks everyone<00:11:06.160><c> for</c><00:11:06.320><c> spending</c><00:11:06.680><c> your</c><00:11:06.920><c> afternoon</c>

11:07

everyone for spending your afternoon everyone for spending your afternoon with<00:11:08.120><c> us</c><00:11:08.440><c> today</c><00:11:08.920><c> I'm</c><00:11:09.079><c> really</c><00:11:09.279><c> excited</c><00:11:09.600><c> to</c><00:11:09.720><c> be</c>

11:09

with us today I'm really excited to be with us today I'm really excited to be here<00:11:10.040><c> to</c><00:11:10.240><c> be</c><00:11:10.480><c> talking</c><00:11:11.440><c> about</c><00:11:11.680><c> Bank</c><00:11:11.920><c> branches</c>

11:12

here to be talking about Bank branches here to be talking about Bank branches and<00:11:12.480><c> their</c><00:11:12.680><c> importance</c><00:11:13.440><c> to</c><00:11:14.279><c> communities</c><00:11:15.279><c> uh</c><00:11:15.480><c> I</c>

11:15

and their importance to communities uh I and their importance to communities uh I want<00:11:15.639><c> to</c><00:11:15.839><c> reiterate</c><00:11:16.680><c> that</c><00:11:17.079><c> uh</c><00:11:17.240><c> while</c><00:11:17.440><c> I</c><00:11:17.639><c> have</c>

11:17

want to reiterate that uh while I have want to reiterate that uh while I have the<00:11:18.000><c> privilege</c><00:11:18.399><c> of</c><00:11:18.519><c> serving</c><00:11:18.800><c> as</c><00:11:18.920><c> a</c> the privilege of serving as a the privilege of serving as a supervisory<00:11:19.600><c> examiner</c><00:11:20.120><c> here</c><00:11:20.279><c> at</c><00:11:20.399><c> the</c><00:11:20.480><c> Federal</c>

11:20

supervisory examiner here at the Federal supervisory examiner here at the Federal Reserve<00:11:21.120><c> Bank</c><00:11:21.320><c> of</c><00:11:21.440><c> St</c><00:11:21.680><c> Louis</c><00:11:22.440><c> in</c><00:11:22.600><c> our</c><00:11:22.760><c> consumer</c>

11:23

Reserve Bank of St Louis in our consumer Reserve Bank of St Louis in our consumer fairs<00:11:23.440><c> unit</c><00:11:23.880><c> I</c><00:11:23.959><c> will</c><00:11:24.120><c> be</c><00:11:24.279><c> speaking</c><00:11:24.760><c> first</c><00:11:25.639><c> as</c><00:11:25.760><c> a</c>

11:25

fairs unit I will be speaking first as a fairs unit I will be speaking first as a PhD<00:11:26.320><c> student</c><00:11:26.639><c> who</c><00:11:26.760><c> studies</c><00:11:27.440><c> uh</c><00:11:27.560><c> consumer</c>

11:27

PhD student who studies uh consumer PhD student who studies uh consumer behavior<00:11:28.440><c> and</c><00:11:28.600><c> Retail</c><00:11:28.959><c> banking</c><00:11:29.560><c> and</c> behavior and Retail banking and behavior and Retail banking and specifically<00:11:30.639><c> the</c><00:11:30.760><c> current</c><00:11:31.040><c> and</c><00:11:31.160><c> future</c>

11:31

specifically the current and future specifically the current and future state<00:11:31.800><c> of</c><00:11:32.079><c> Bank</c><00:11:32.880><c> branches</c><00:11:33.880><c> while</c><00:11:34.519><c> uh</c><00:11:34.720><c> I</c><00:11:34.800><c> think</c>

11:34

state of Bank branches while uh I think state of Bank branches while uh I think we<00:11:35.040><c> have</c><00:11:35.120><c> a</c><00:11:35.240><c> poll</c><00:11:35.519><c> question</c><00:11:35.800><c> so</c><00:11:35.920><c> let's</c><00:11:36.079><c> go</c> we have a poll question so let's go we have a poll question so let's go ahead<00:11:36.360><c> and</c><00:11:36.519><c> deploy</c><00:11:37.000><c> that</c><00:11:37.279><c> poll</c><00:11:37.560><c> question</c><00:11:38.440><c> and</c>

11:38

ahead and deploy that poll question and ahead and deploy that poll question and the<00:11:38.680><c> poll</c><00:11:39.000><c> question</c><00:11:39.519><c> is</c><00:11:39.880><c> related</c><00:11:40.279><c> to</c><00:11:41.079><c> how</c><00:11:41.320><c> do</c>

11:41

the poll question is related to how do the poll question is related to how do consumers<00:11:42.360><c> think</c><00:11:42.600><c> about</c><00:11:43.040><c> Bank</c><00:11:43.279><c> branches</c><00:11:43.639><c> and</c>

11:43

consumers think about Bank branches and consumers think about Bank branches and financial<00:11:44.440><c> technology</c><00:11:44.959><c> today</c><00:11:45.920><c> the</c><00:11:46.079><c> question</c>

11:46

financial technology today the question financial technology today the question is<00:11:46.440><c> trying</c><00:11:46.639><c> to</c><00:11:46.760><c> get</c><00:11:46.920><c> out</c><00:11:47.160><c> what</c><00:11:47.279><c> is</c><00:11:47.519><c> keeping</c> is trying to get out what is keeping is trying to get out what is keeping from<00:11:48.480><c> uh</c><00:11:48.600><c> keeping</c><00:11:48.959><c> consumers</c><00:11:49.480><c> from</c><00:11:49.959><c> accessing</c>

11:50

from uh keeping consumers from accessing from uh keeping consumers from accessing their<00:11:51.800><c> bank</c><00:11:52.079><c> accounts</c><00:11:52.680><c> their</c><00:11:52.959><c> financial</c>

11:53

their bank accounts their financial their bank accounts their financial statements<00:11:53.880><c> Etc</c><00:11:54.519><c> online</c><00:11:55.120><c> so</c><00:11:55.560><c> while</c><00:11:55.760><c> that</c>

11:55

statements Etc online so while that statements Etc online so while that question<00:11:56.120><c> is</c><00:11:56.279><c> up</c><00:11:56.519><c> let</c><00:11:56.639><c> me</c><00:11:57.000><c> reiterate</c><00:11:57.680><c> the</c><00:11:58.200><c> uh</c>

11:58

question is up let me reiterate the uh question is up let me reiterate the uh discl<00:11:58.880><c> disclaimer</c><00:11:59.440><c> at</c><00:11:59.519><c> the</c><00:11:59.639><c> beginning</c><00:12:00.480><c> that</c><00:12:00.839><c> I</c>

12:00

discl disclaimer at the beginning that I discl disclaimer at the beginning that I will<00:12:01.040><c> be</c><00:12:01.200><c> speaking</c><00:12:01.680><c> as</c><00:12:01.760><c> a</c><00:12:01.959><c> student</c><00:12:02.440><c> as</c><00:12:02.600><c> a</c><00:12:02.760><c> PhD</c>

12:03

will be speaking as a student as a PhD will be speaking as a student as a PhD student<00:12:03.639><c> and</c><00:12:03.839><c> not</c><00:12:04.320><c> on</c><00:12:04.519><c> behalf</c><00:12:04.880><c> of</c><00:12:05.000><c> the</c><00:12:05.079><c> Federal</c>

12:05

student and not on behalf of the Federal student and not on behalf of the Federal Reserve<00:12:05.600><c> Bank</c><00:12:05.760><c> of</c><00:12:05.839><c> St</c><00:12:06.040><c> Louis</c><00:12:06.680><c> or</c><00:12:06.839><c> the</c><00:12:06.920><c> Federal</c> Reserve Bank of St Louis or the Federal Reserve Bank of St Louis or the Federal Reserve<00:12:07.680><c> System</c><00:12:08.360><c> we</c><00:12:08.480><c> will</c><00:12:08.600><c> go</c><00:12:08.720><c> ahead</c><00:12:08.880><c> and</c>

12:08

Reserve System we will go ahead and Reserve System we will go ahead and leave<00:12:09.399><c> that</c><00:12:09.560><c> pulling</c><00:12:09.880><c> question</c><00:12:10.120><c> up</c><00:12:10.240><c> for</c><00:12:10.360><c> a</c><00:12:10.440><c> few</c> leave that pulling question up for a few leave that pulling question up for a few more<00:12:10.800><c> seconds</c><00:12:11.120><c> as</c><00:12:11.240><c> you</c><00:12:11.360><c> read</c><00:12:11.560><c> through</c><00:12:11.760><c> the</c>

12:12

more seconds as you read through the more seconds as you read through the options<00:12:13.160><c> and</c><00:12:13.519><c> we</c><00:12:13.600><c> will</c><00:12:13.760><c> go</c><00:12:13.880><c> ahead</c><00:12:14.040><c> and</c><00:12:14.199><c> close</c>

12:14

options and we will go ahead and close options and we will go ahead and close it<00:12:14.760><c> here</c><00:12:15.199><c> in</c><00:12:15.560><c> three</c><00:12:16.519><c> two</c><00:12:17.320><c> and</c><00:12:17.920><c> one</c><00:12:18.920><c> and</c><00:12:19.120><c> I</c><00:12:19.199><c> will</c>

12:19

it here in three two and one and I will it here in three two and one and I will give<00:12:19.480><c> you</c><00:12:19.600><c> the</c><00:12:19.720><c> answer</c><00:12:19.959><c> here</c><00:12:20.079><c> in</c><00:12:20.199><c> a</c><00:12:20.320><c> few</c><00:12:20.519><c> slides</c> give you the answer here in a few slides give you the answer here in a few slides so<00:12:21.000><c> a</c><00:12:21.079><c> little</c><00:12:21.199><c> bit</c><00:12:21.320><c> of</c><00:12:21.399><c> a</c><00:12:21.480><c> cliffhanger</c><00:12:22.040><c> so</c>

12:22

so a little bit of a cliffhanger so so a little bit of a cliffhanger so let's<00:12:22.320><c> go</c><00:12:22.440><c> ahead</c><00:12:22.600><c> and</c><00:12:22.680><c> move</c><00:12:22.839><c> to</c><00:12:22.959><c> the</c><00:12:23.079><c> next</c> let's go ahead and move to the next let's go ahead and move to the next slide<00:12:24.000><c> and</c><00:12:24.120><c> we</c><00:12:24.199><c> will</c><00:12:24.399><c> go</c><00:12:24.519><c> ahead</c><00:12:24.680><c> and</c><00:12:24.880><c> get</c><00:12:25.079><c> into</c>

12:25

slide and we will go ahead and get into slide and we will go ahead and get into the the the research<00:12:28.199><c> so</c><00:12:28.440><c> the</c><00:12:28.560><c> goal</c><00:12:28.839><c> of</c><00:12:29.000><c> this</c><00:12:29.560><c> of</c><00:12:29.760><c> these</c><00:12:30.160><c> of</c>

12:30

research so the goal of this of these of research so the goal of this of these of these<00:12:30.480><c> remarks</c><00:12:31.000><c> is</c><00:12:31.120><c> to</c><00:12:31.320><c> really</c><00:12:31.639><c> provide</c><00:12:32.040><c> the</c> these remarks is to really provide the these remarks is to really provide the audience<00:12:32.600><c> with</c><00:12:32.720><c> a</c><00:12:32.839><c> high</c><00:12:33.040><c> level</c><00:12:33.320><c> overview</c><00:12:34.199><c> of</c>

12:34

audience with a high level overview of audience with a high level overview of the<00:12:35.040><c> current</c><00:12:35.720><c> state</c><00:12:36.000><c> of</c><00:12:36.199><c> bank</c><00:12:36.440><c> branch</c> the current state of bank branch the current state of bank branch research<00:12:37.480><c> but</c><00:12:37.639><c> before</c><00:12:37.839><c> we</c><00:12:37.959><c> get</c><00:12:38.079><c> into</c><00:12:38.320><c> that</c><00:12:38.680><c> I'd</c>

12:38

research but before we get into that I'd research but before we get into that I'd like<00:12:38.959><c> to</c><00:12:39.040><c> tell</c><00:12:39.240><c> a</c><00:12:39.440><c> quick</c><00:12:39.800><c> a</c><00:12:39.959><c> quick</c><00:12:40.199><c> story</c><00:12:41.000><c> so</c>

12:41

like to tell a quick a quick story so like to tell a quick a quick story so you<00:12:41.440><c> should</c><00:12:41.639><c> see</c><00:12:42.000><c> a</c><00:12:42.199><c> beautiful</c><00:12:42.839><c> couple</c><00:12:43.279><c> on</c><00:12:43.440><c> the</c>

12:43

you should see a beautiful couple on the you should see a beautiful couple on the screen<00:12:44.040><c> let's</c><00:12:44.279><c> call</c><00:12:44.560><c> them</c><00:12:45.160><c> I</c><00:12:45.240><c> don't</c><00:12:45.399><c> know</c>

12:45

screen let's call them I don't know screen let's call them I don't know Caleb<00:12:46.160><c> and</c><00:12:46.320><c> Sabrina</c><00:12:46.880><c> Bobo</c><00:12:47.880><c> uh</c><00:12:48.160><c> a</c><00:12:48.240><c> pseudonym</c><00:12:48.800><c> of</c>

12:49

Caleb and Sabrina Bobo uh a pseudonym of Caleb and Sabrina Bobo uh a pseudonym of course<00:12:50.079><c> and</c><00:12:51.040><c> the</c><00:12:51.240><c> what</c><00:12:51.360><c> I</c><00:12:51.480><c> think</c><00:12:51.600><c> is</c>

12:51

course and the what I think is course and the what I think is interesting<00:12:52.160><c> about</c><00:12:52.360><c> this</c><00:12:52.560><c> couple</c><00:12:53.079><c> is</c><00:12:53.440><c> while</c> interesting about this couple is while interesting about this couple is while they<00:12:54.000><c> are</c><00:12:54.360><c> married</c><00:12:55.079><c> they</c><00:12:55.160><c> are</c><00:12:55.279><c> of</c><00:12:55.440><c> the</c><00:12:55.560><c> same</c>

12:55

they are married they are of the same they are married they are of the same race<00:12:56.120><c> they're</c><00:12:56.360><c> the</c><00:12:56.480><c> same</c><00:12:56.760><c> age</c><00:12:57.240><c> both</c><00:12:57.560><c> formally</c>

12:58

race they're the same age both formally race they're the same age both formally educated<00:12:58.839><c> they</c><00:12:58.959><c> have</c><00:12:59.360><c> vastly</c><00:12:59.800><c> different</c>

13:00

educated they have vastly different educated they have vastly different banking<00:13:00.519><c> behaviors</c><00:13:01.360><c> Caleb</c><00:13:02.120><c> is</c><00:13:02.240><c> someone</c><00:13:02.480><c> who</c>

13:02

banking behaviors Caleb is someone who banking behaviors Caleb is someone who goes<00:13:02.800><c> to</c><00:13:02.920><c> a</c><00:13:03.079><c> bank</c><00:13:03.680><c> branch</c><00:13:04.399><c> almost</c><00:13:04.720><c> once</c><00:13:04.880><c> a</c>

13:05

goes to a bank branch almost once a goes to a bank branch almost once a month<00:13:05.680><c> who</c><00:13:05.920><c> frequently</c><00:13:06.399><c> finds</c><00:13:06.959><c> himself</c><00:13:07.680><c> in</c><00:13:08.480><c> um</c>

13:08

month who frequently finds himself in um month who frequently finds himself in um in-person<00:13:09.199><c> banking</c><00:13:10.240><c> conversations</c><00:13:11.240><c> uh</c>

13:11

in-person banking conversations uh in-person banking conversations uh visiting<00:13:11.680><c> ATMs</c><00:13:12.120><c> or</c><00:13:12.320><c> Bank</c><00:13:12.519><c> branches</c><00:13:13.040><c> while</c>

13:13

visiting ATMs or Bank branches while visiting ATMs or Bank branches while Caleb's<00:13:14.079><c> wife</c><00:13:14.360><c> Sabrina</c><00:13:15.360><c> is</c><00:13:15.519><c> someone</c><00:13:15.839><c> who</c><00:13:16.000><c> has</c>

13:16

Caleb's wife Sabrina is someone who has Caleb's wife Sabrina is someone who has gone<00:13:16.279><c> to</c><00:13:16.399><c> a</c><00:13:16.519><c> bank</c><00:13:16.680><c> branch</c><00:13:17.000><c> only</c><00:13:17.279><c> twice</c><00:13:17.920><c> in</c><00:13:18.079><c> the</c>

13:18

gone to a bank branch only twice in the gone to a bank branch only twice in the last<00:13:18.600><c> year</c><00:13:19.519><c> uh</c><00:13:19.639><c> and</c><00:13:19.760><c> only</c><00:13:20.040><c> goes</c><00:13:20.279><c> to</c><00:13:20.399><c> a</c><00:13:20.480><c> bank</c>

13:20

last year uh and only goes to a bank last year uh and only goes to a bank branch<00:13:21.000><c> quote</c><00:13:21.600><c> if</c><00:13:21.720><c> she</c><00:13:22.000><c> really</c><00:13:22.399><c> has</c><00:13:22.600><c> to</c><00:13:23.519><c> and</c><00:13:23.639><c> I</c>

13:23

branch quote if she really has to and I branch quote if she really has to and I share<00:13:24.000><c> that</c><00:13:24.160><c> story</c><00:13:24.480><c> not</c><00:13:24.720><c> necessarily</c><00:13:25.480><c> because</c>

13:25

share that story not necessarily because share that story not necessarily because antidote<00:13:26.279><c> is</c><00:13:26.480><c> data</c><00:13:26.959><c> but</c><00:13:27.079><c> to</c><00:13:27.360><c> say</c><00:13:27.760><c> that</c><00:13:28.120><c> there</c>

13:28

antidote is data but to say that there antidote is data but to say that there is<00:13:28.440><c> Nuance</c><00:13:28.920><c> in</c><00:13:29.320><c> how</c><00:13:30.160><c> consumers</c><00:13:30.959><c> customers</c>

13:31

is Nuance in how consumers customers is Nuance in how consumers customers think<00:13:32.000><c> about</c><00:13:33.000><c> in-person</c><00:13:33.399><c> banking</c>

13:33

think about in-person banking think about in-person banking place-based<00:13:34.440><c> banking</c><00:13:35.240><c> and</c><00:13:35.360><c> it's</c><00:13:35.519><c> not</c><00:13:35.800><c> as</c><00:13:35.959><c> easy</c>

13:36

place-based banking and it's not as easy place-based banking and it's not as easy as<00:13:36.320><c> saying</c><00:13:36.560><c> young</c><00:13:36.800><c> people</c><00:13:37.120><c> Bank</c><00:13:37.760><c> One</c><00:13:38.000><c> Way</c><00:13:38.279><c> or</c>

13:38

as saying young people Bank One Way or as saying young people Bank One Way or black<00:13:38.800><c> people</c><00:13:39.079><c> Bank</c><00:13:39.519><c> another</c><00:13:39.839><c> way</c><00:13:40.160><c> but</c> black people Bank another way but black people Bank another way but there's<00:13:40.519><c> nuance</c><00:13:41.360><c> and</c><00:13:41.480><c> because</c><00:13:41.680><c> there</c><00:13:41.800><c> is</c>

13:41

there's nuance and because there is there's nuance and because there is Nuance<00:13:42.360><c> I</c><00:13:42.440><c> think</c><00:13:42.560><c> it</c><00:13:42.639><c> is</c><00:13:42.839><c> ripe</c><00:13:43.680><c> for</c><00:13:44.199><c> additional</c>

13:45

Nuance I think it is ripe for additional Nuance I think it is ripe for additional research<00:13:45.680><c> let's</c><00:13:45.839><c> go</c><00:13:45.959><c> ahead</c><00:13:46.120><c> and</c><00:13:46.199><c> go</c><00:13:46.320><c> to</c><00:13:46.440><c> the</c> research let's go ahead and go to the research let's go ahead and go to the next<00:13:46.839><c> slide</c><00:13:47.839><c> over</c><00:13:48.079><c> these</c><00:13:48.240><c> next</c><00:13:48.440><c> few</c><00:13:48.639><c> slides</c>

13:48

next slide over these next few slides next slide over these next few slides I'm<00:13:49.120><c> going</c><00:13:49.199><c> to</c><00:13:49.360><c> try</c><00:13:49.560><c> to</c><00:13:49.720><c> make</c><00:13:49.920><c> some</c><00:13:50.120><c> arguments</c> I'm going to try to make some arguments I'm going to try to make some arguments uh<00:13:51.120><c> by</c><00:13:51.279><c> providing</c><00:13:51.680><c> you</c><00:13:51.920><c> a</c><00:13:52.079><c> summary</c><00:13:52.920><c> of</c><00:13:53.320><c> what</c>

13:53

uh by providing you a summary of what uh by providing you a summary of what the<00:13:53.759><c> academic</c><00:13:54.240><c> research</c><00:13:54.639><c> is</c><00:13:54.800><c> saying</c><00:13:55.160><c> about</c> the academic research is saying about the academic research is saying about Bank<00:13:55.839><c> branches</c><00:13:56.839><c> the</c><00:13:57.000><c> first</c><00:13:57.320><c> thing</c><00:13:57.720><c> that</c><00:13:58.079><c> uh</c><00:13:58.199><c> I</c>

13:58

Bank branches the first thing that uh I Bank branches the first thing that uh I think<00:13:58.399><c> the</c><00:13:58.480><c> research</c><00:13:58.759><c> is</c><00:13:58.839><c> pretty</c><00:13:59.160><c> be</c><00:13:59.279><c> clear</c><00:13:59.519><c> on</c> think the research is pretty be clear on think the research is pretty be clear on is<00:14:00.079><c> that</c><00:14:00.279><c> Bank</c><00:14:00.519><c> branches</c><00:14:00.959><c> matter</c>

14:01

is that Bank branches matter is that Bank branches matter specifically<00:14:02.240><c> proximity</c><00:14:02.680><c> to</c><00:14:02.839><c> Bank</c><00:14:03.199><c> branches</c>

14:04

specifically proximity to Bank branches specifically proximity to Bank branches the<00:14:04.360><c> academic</c><00:14:04.720><c> literature</c><00:14:05.279><c> says</c><00:14:05.839><c> that</c><00:14:06.320><c> the</c>

14:06

the academic literature says that the the academic literature says that the closer<00:14:06.720><c> you</c><00:14:06.800><c> are</c><00:14:06.920><c> to</c><00:14:07.079><c> a</c><00:14:07.199><c> bank</c><00:14:07.360><c> branch</c><00:14:07.680><c> the</c><00:14:07.759><c> more</c> closer you are to a bank branch the more closer you are to a bank branch the more likely<00:14:08.320><c> you</c><00:14:08.480><c> are</c><00:14:09.240><c> to</c><00:14:09.880><c> hold</c><00:14:10.320><c> a</c><00:14:10.519><c> deposit</c><00:14:10.920><c> account</c>

14:11

likely you are to hold a deposit account likely you are to hold a deposit account at<00:14:11.399><c> an</c><00:14:11.560><c> FDIC</c><00:14:12.360><c> FDIC</c><00:14:12.959><c> insured</c><00:14:13.399><c> financial</c>

14:13

at an FDIC FDIC insured financial at an FDIC FDIC insured financial institution<00:14:14.639><c> It</c><00:14:14.800><c> also</c><00:14:15.120><c> says</c><00:14:15.440><c> that</c><00:14:15.600><c> if</c><00:14:15.720><c> a</c><00:14:15.839><c> bank</c>

14:16

institution It also says that if a bank institution It also says that if a bank branch<00:14:16.360><c> is</c><00:14:16.519><c> in</c><00:14:16.680><c> your</c><00:14:16.880><c> community</c><00:14:17.360><c> your</c> branch is in your community your branch is in your community your community<00:14:17.880><c> is</c><00:14:18.000><c> more</c><00:14:18.160><c> likely</c><00:14:18.399><c> to</c><00:14:18.560><c> have</c>

14:18

community is more likely to have community is more likely to have mortgage<00:14:19.320><c> lending</c><00:14:20.000><c> that</c><00:14:20.079><c> means</c><00:14:20.399><c> consumers</c>

14:21

mortgage lending that means consumers mortgage lending that means consumers households<00:14:21.480><c> and</c><00:14:21.680><c> individuals</c><00:14:22.639><c> benefit</c><00:14:23.240><c> from</c>

14:23

households and individuals benefit from households and individuals benefit from having<00:14:23.920><c> proximity</c><00:14:24.880><c> to</c><00:14:25.040><c> a</c><00:14:25.199><c> bank</c><00:14:25.440><c> branch</c>

14:26

having proximity to a bank branch having proximity to a bank branch commercial<00:14:26.839><c> clients</c><00:14:27.240><c> also</c><00:14:27.560><c> benefit</c><00:14:28.000><c> from</c> commercial clients also benefit from commercial clients also benefit from having<00:14:28.360><c> a</c><00:14:28.480><c> bank</c><00:14:28.680><c> branch</c><00:14:29.120><c> in</c><00:14:29.240><c> their</c><00:14:29.519><c> Community</c>

14:30

having a bank branch in their Community having a bank branch in their Community uh<00:14:30.680><c> credit</c><00:14:31.000><c> is</c><00:14:31.199><c> cheaper</c><00:14:31.680><c> and</c><00:14:31.880><c> available</c><00:14:32.240><c> for</c><00:14:32.519><c> a</c>

14:32

uh credit is cheaper and available for a uh credit is cheaper and available for a longer<00:14:33.160><c> period</c><00:14:33.560><c> of</c><00:14:33.839><c> time</c><00:14:34.800><c> if</c><00:14:35.000><c> a</c><00:14:35.160><c> bank</c><00:14:35.360><c> branch</c>

14:35

longer period of time if a bank branch longer period of time if a bank branch is<00:14:35.800><c> in</c><00:14:36.000><c> proximity</c><00:14:36.440><c> and</c><00:14:36.600><c> interestingly</c><00:14:37.279><c> the</c> is in proximity and interestingly the is in proximity and interestingly the inverse<00:14:38.000><c> is</c><00:14:38.199><c> also</c><00:14:38.560><c> true</c><00:14:38.880><c> as</c><00:14:39.040><c> well</c><00:14:39.560><c> as</c><00:14:39.759><c> distance</c>

14:41

inverse is also true as well as distance inverse is also true as well as distance increases<00:14:42.040><c> uh</c><00:14:42.120><c> from</c><00:14:42.279><c> the</c><00:14:42.360><c> nearest</c><00:14:42.680><c> bank</c> increases uh from the nearest bank increases uh from the nearest bank branch<00:14:43.320><c> or</c><00:14:43.440><c> if</c><00:14:43.519><c> a</c><00:14:43.639><c> bank</c><00:14:43.800><c> branch</c><00:14:44.120><c> closes</c>

14:44

branch or if a bank branch closes branch or if a bank branch closes Commercial<00:14:45.480><c> Credit</c><00:14:46.199><c> uh</c><00:14:46.320><c> there's</c><00:14:46.480><c> a</c><00:14:46.600><c> negative</c> Commercial Credit uh there's a negative Commercial Credit uh there's a negative effect<00:14:47.199><c> on</c><00:14:47.399><c> Commercial</c><00:14:47.839><c> Credit</c><00:14:48.480><c> so</c><00:14:48.680><c> what</c><00:14:48.839><c> that</c>

14:49

effect on Commercial Credit so what that effect on Commercial Credit so what that at<00:14:49.720><c> least</c><00:14:49.920><c> seems</c><00:14:50.160><c> to</c><00:14:50.320><c> imply</c><00:14:50.839><c> is</c><00:14:51.000><c> that</c><00:14:51.160><c> not</c><00:14:51.320><c> only</c> at least seems to imply is that not only at least seems to imply is that not only is<00:14:51.720><c> having</c><00:14:51.880><c> a</c><00:14:52.000><c> branch</c><00:14:52.440><c> important</c><00:14:52.880><c> because</c><00:14:53.199><c> it</c>

14:53

is having a branch important because it is having a branch important because it makes<00:14:53.759><c> your</c><00:14:53.959><c> cost</c><00:14:54.240><c> lower</c><00:14:54.680><c> if</c><00:14:54.800><c> you</c><00:14:54.880><c> are</c><00:14:55.040><c> a</c><00:14:55.160><c> small</c> makes your cost lower if you are a small makes your cost lower if you are a small business<00:14:55.759><c> owner</c><00:14:56.600><c> but</c><00:14:56.880><c> if</c><00:14:57.000><c> a</c><00:14:57.160><c> branch</c><00:14:57.519><c> closes</c><00:14:58.000><c> or</c>

14:58

business owner but if a branch closes or business owner but if a branch closes or becomes<00:14:59.160><c> more</c><00:14:59.360><c> distant</c><00:14:59.800><c> it</c><00:14:59.959><c> also</c><00:15:00.480><c> has</c><00:15:01.000><c> effects</c>

15:01

becomes more distant it also has effects becomes more distant it also has effects just<00:15:01.639><c> on</c><00:15:01.800><c> the</c><00:15:01.920><c> negative</c><00:15:02.320><c> side</c><00:15:02.560><c> and</c><00:15:02.639><c> then</c> just on the negative side and then just on the negative side and then lastly<00:15:03.519><c> and</c><00:15:03.720><c> arguably</c><00:15:04.240><c> most</c><00:15:04.519><c> interestingly</c>

15:05

lastly and arguably most interestingly lastly and arguably most interestingly is<00:15:05.680><c> research</c><00:15:06.040><c> has</c><00:15:06.199><c> shown</c><00:15:06.440><c> that</c><00:15:06.560><c> Banks</c><00:15:06.880><c> benefit</c> is research has shown that Banks benefit is research has shown that Banks benefit from<00:15:07.519><c> having</c><00:15:07.759><c> branches</c><00:15:08.199><c> in</c><00:15:08.680><c> communities</c>

15:09

from having branches in communities from having branches in communities deposit<00:15:10.160><c> accounts</c><00:15:10.560><c> that</c><00:15:10.680><c> are</c><00:15:10.880><c> opened</c>

15:11

deposit accounts that are opened deposit accounts that are opened online<00:15:13.000><c> uh</c><00:15:13.519><c> uh</c><00:15:13.680><c> excuse</c><00:15:13.959><c> me</c><00:15:14.759><c> deposit</c><00:15:15.120><c> accounts</c>

15:15

online uh uh excuse me deposit accounts online uh uh excuse me deposit accounts that<00:15:15.399><c> are</c><00:15:15.480><c> opened</c><00:15:15.720><c> in</c><00:15:15.880><c> person</c><00:15:16.320><c> are</c><00:15:16.720><c> more</c><00:15:17.000><c> loyal</c>

15:17

that are opened in person are more loyal that are opened in person are more loyal account<00:15:17.720><c> holders</c><00:15:18.360><c> and</c><00:15:18.519><c> they</c><00:15:18.880><c> have</c><00:15:19.040><c> more</c> account holders and they have more account holders and they have more Dynamic<00:15:20.000><c> relationships</c><00:15:20.680><c> meaning</c><00:15:21.360><c> if</c><00:15:21.480><c> I</c><00:15:21.600><c> open</c>

15:21

Dynamic relationships meaning if I open Dynamic relationships meaning if I open my<00:15:22.000><c> savings</c><00:15:22.399><c> account</c><00:15:22.680><c> in</c><00:15:22.839><c> person</c><00:15:23.360><c> at</c><00:15:23.480><c> a</c><00:15:23.639><c> bank</c>

15:24

my savings account in person at a bank my savings account in person at a bank I'm<00:15:24.639><c> more</c><00:15:24.839><c> likely</c><00:15:25.120><c> to</c><00:15:25.240><c> come</c><00:15:25.440><c> back</c><00:15:25.600><c> to</c><00:15:25.759><c> that</c> I'm more likely to come back to that I'm more likely to come back to that same<00:15:26.120><c> bank</c><00:15:26.360><c> to</c><00:15:26.560><c> open</c><00:15:27.560><c> uh</c><00:15:27.680><c> a</c><00:15:27.839><c> mortgage</c><00:15:28.800><c> uh</c><00:15:29.040><c> apply</c>

15:29

same bank to open uh a mortgage uh apply same bank to open uh a mortgage uh apply for<00:15:29.360><c> a</c><00:15:29.399><c> mortgage</c><00:15:29.720><c> loan</c><00:15:30.000><c> or</c><00:15:30.399><c> apply</c><00:15:30.639><c> for</c><00:15:30.839><c> a</c><00:15:31.000><c> car</c> for a mortgage loan or apply for a car for a mortgage loan or apply for a car loan<00:15:31.680><c> so</c><00:15:31.839><c> there</c><00:15:31.920><c> are</c><00:15:32.120><c> benefits</c><00:15:32.800><c> not</c><00:15:33.000><c> only</c><00:15:33.199><c> to</c>

15:33

loan so there are benefits not only to loan so there are benefits not only to the<00:15:33.519><c> customer</c><00:15:34.160><c> to</c><00:15:34.360><c> having</c><00:15:34.519><c> a</c><00:15:34.639><c> bank</c><00:15:34.839><c> branch</c><00:15:35.160><c> in</c>

15:35

the customer to having a bank branch in the customer to having a bank branch in proximity<00:15:36.160><c> but</c><00:15:36.279><c> there</c><00:15:36.399><c> are</c><00:15:36.560><c> also</c><00:15:36.880><c> benefits</c><00:15:37.839><c> to</c>

15:38

proximity but there are also benefits to proximity but there are also benefits to the<00:15:38.680><c> financial</c><00:15:39.120><c> institution</c><00:15:39.800><c> for</c><00:15:40.040><c> having</c><00:15:40.600><c> a</c>

15:40

the financial institution for having a the financial institution for having a bank<00:15:40.959><c> branch</c><00:15:41.240><c> in</c><00:15:41.480><c> proximity</c><00:15:42.279><c> as</c><00:15:42.440><c> well</c><00:15:42.759><c> so</c><00:15:43.639><c> what</c>

15:43

bank branch in proximity as well so what bank branch in proximity as well so what I<00:15:44.000><c> what</c><00:15:44.079><c> I</c><00:15:44.199><c> hope</c><00:15:44.399><c> this</c><00:15:44.600><c> shows</c><00:15:45.600><c> uh</c><00:15:45.839><c> at</c><00:15:45.959><c> a</c><00:15:46.079><c> very</c>

15:46

I what I hope this shows uh at a very I what I hope this shows uh at a very high<00:15:46.519><c> level</c><00:15:46.800><c> is</c><00:15:46.959><c> that</c><00:15:47.240><c> at</c><00:15:47.319><c> least</c><00:15:47.519><c> the</c><00:15:47.639><c> academic</c> high level is that at least the academic high level is that at least the academic literature<00:15:48.519><c> says</c><00:15:48.880><c> that</c><00:15:49.360><c> proximity</c><00:15:50.240><c> to</c><00:15:50.440><c> a</c><00:15:50.519><c> bank</c>

15:50

literature says that proximity to a bank literature says that proximity to a bank branch<00:15:51.079><c> matters</c><00:15:51.440><c> quite</c><00:15:51.639><c> a</c><00:15:51.720><c> bit</c><00:15:51.959><c> for</c>

15:52

branch matters quite a bit for branch matters quite a bit for households<00:15:53.519><c> individuals</c><00:15:54.199><c> as</c><00:15:54.319><c> well</c><00:15:54.440><c> as</c><00:15:54.680><c> small</c>

15:54

households individuals as well as small households individuals as well as small business<00:15:55.360><c> customers</c><00:15:56.120><c> let's</c><00:15:56.279><c> go</c><00:15:56.399><c> ahead</c><00:15:56.560><c> and</c><00:15:56.639><c> go</c> business customers let's go ahead and go business customers let's go ahead and go to<00:15:56.880><c> the</c><00:15:57.000><c> next</c><00:15:57.240><c> slide</c><00:15:58.120><c> uh</c><00:15:58.319><c> because</c><00:15:59.240><c> uh</c><00:15:59.639><c> the</c>

16:00

to the next slide uh because uh the to the next slide uh because uh the inverse<00:16:01.120><c> is</c><00:16:01.680><c> um</c><00:16:01.839><c> an</c><00:16:01.959><c> interesting</c><00:16:02.440><c> question</c><00:16:03.120><c> as</c>

16:03

inverse is um an interesting question as inverse is um an interesting question as well<00:16:03.880><c> right</c><00:16:04.120><c> so</c><00:16:04.920><c> uh</c><00:16:05.040><c> this</c><00:16:05.240><c> next</c><00:16:05.440><c> slide</c><00:16:05.959><c> should</c>

16:06

well right so uh this next slide should well right so uh this next slide should be<00:16:07.199><c> uh</c><00:16:07.800><c> should</c><00:16:08.040><c> be</c><00:16:08.199><c> trying</c><00:16:08.399><c> to</c><00:16:08.519><c> make</c><00:16:08.639><c> an</c>

16:08

be uh should be trying to make an be uh should be trying to make an argument<00:16:09.120><c> about</c><00:16:09.680><c> what</c><00:16:09.880><c> can</c><00:16:10.399><c> digital</c><00:16:10.959><c> banking</c>

16:11

argument about what can digital banking argument about what can digital banking uh<00:16:12.120><c> replace</c><00:16:12.920><c> in-person</c><00:16:13.720><c> banking</c><00:16:14.720><c> uh</c><00:16:14.959><c> I'm</c><00:16:15.120><c> of</c>

16:15

uh replace in-person banking uh I'm of uh replace in-person banking uh I'm of the<00:16:15.319><c> belief</c><00:16:15.639><c> that</c><00:16:16.199><c> it</c><00:16:16.440><c> can't</c><00:16:17.000><c> but</c><00:16:17.240><c> I</c><00:16:17.319><c> think</c>

16:17

the belief that it can't but I think the belief that it can't but I think there's<00:16:17.639><c> an</c><00:16:17.759><c> argument</c><00:16:18.120><c> to</c><00:16:18.240><c> be</c><00:16:18.440><c> made</c><00:16:19.160><c> uh</c> there's an argument to be made uh there's an argument to be made uh especially<00:16:19.959><c> in</c><00:16:20.120><c> the</c><00:16:20.319><c> case</c><00:16:21.160><c> that</c><00:16:21.440><c> Elena</c><00:16:21.920><c> just</c>

16:22

especially in the case that Elena just especially in the case that Elena just so<00:16:22.600><c> well</c><00:16:22.959><c> described</c><00:16:23.360><c> and</c><00:16:23.480><c> that</c><00:16:23.600><c> Bank</c><00:16:23.800><c> branches</c>

16:24

so well described and that Bank branches so well described and that Bank branches are<00:16:24.639><c> declining</c><00:16:25.240><c> and</c><00:16:25.360><c> some</c><00:16:25.480><c> research</c><00:16:25.839><c> has</c><00:16:26.000><c> even</c>

16:26

are declining and some research has even are declining and some research has even found<00:16:27.480><c> that</c><00:16:28.480><c> uh</c>

16:29

found that uh found that uh online<00:16:29.880><c> and</c><00:16:30.040><c> digital</c><00:16:30.319><c> means</c><00:16:30.720><c> are</c><00:16:31.000><c> a</c><00:16:31.360><c> semi-</c>

16:31

online and digital means are a semi- online and digital means are a semi- effective<00:16:32.079><c> way</c><00:16:32.240><c> in</c><00:16:32.399><c> providing</c><00:16:32.800><c> Banking</c><00:16:33.120><c> and</c> effective way in providing Banking and effective way in providing Banking and Financial<00:16:33.639><c> Services</c><00:16:33.959><c> to</c><00:16:34.160><c> customers</c><00:16:35.040><c> but</c>

16:35

Financial Services to customers but Financial Services to customers but there<00:16:35.360><c> are</c><00:16:35.680><c> some</c><00:16:36.440><c> qualifiers</c><00:16:37.079><c> that</c><00:16:37.199><c> I</c><00:16:37.279><c> think</c>

16:37

there are some qualifiers that I think there are some qualifiers that I think are<00:16:37.680><c> important</c><00:16:38.680><c> those</c><00:16:38.959><c> who</c><00:16:39.240><c> do</c><00:16:39.480><c> the</c><00:16:39.600><c> majority</c>

16:39

are important those who do the majority are important those who do the majority of<00:16:40.040><c> their</c><00:16:40.240><c> Banking</c><00:16:40.560><c> online</c><00:16:41.040><c> tend</c><00:16:41.240><c> to</c><00:16:41.360><c> be</c> of their Banking online tend to be of their Banking online tend to be younger<00:16:42.360><c> more</c><00:16:42.600><c> formally</c><00:16:43.079><c> educated</c><00:16:43.959><c> and</c><00:16:44.120><c> more</c>

16:44

younger more formally educated and more younger more formally educated and more fluent<00:16:45.959><c> uh</c><00:16:46.240><c> while</c><00:16:46.639><c> those</c><00:16:47.079><c> who</c><00:16:47.759><c> uh</c><00:16:47.959><c> prefer</c><00:16:48.319><c> to</c>

16:48

fluent uh while those who uh prefer to fluent uh while those who uh prefer to Bank<00:16:48.639><c> in</c><00:16:48.800><c> portion</c><00:16:49.240><c> are</c><00:16:49.519><c> typically</c><00:16:49.920><c> older</c><00:16:50.920><c> um</c>

16:51

Bank in portion are typically older um Bank in portion are typically older um and<00:16:51.440><c> more</c><00:16:51.639><c> likely</c><00:16:51.959><c> to</c><00:16:52.120><c> live</c><00:16:52.360><c> in</c><00:16:52.519><c> rural</c><00:16:53.199><c> areas</c>

16:54

and more likely to live in rural areas and more likely to live in rural areas the<00:16:54.440><c> the</c><00:16:54.600><c> second</c><00:16:54.959><c> thing</c><00:16:55.240><c> that</c><00:16:55.360><c> I</c><00:16:55.480><c> think</c><00:16:55.639><c> is</c><00:16:56.120><c> uh</c>

16:56

the the second thing that I think is uh the the second thing that I think is uh at<00:16:56.360><c> least</c><00:16:56.560><c> a</c><00:16:56.759><c> weakness</c><00:16:57.319><c> in</c><00:16:57.480><c> the</c><00:16:57.600><c> argument</c><00:16:58.120><c> that</c>

16:58

at least a weakness in the argument that at least a weakness in the argument that bank<00:16:58.519><c> branch</c> bank branch bank branch can<00:16:59.759><c> be</c><00:16:59.920><c> replaced</c><00:17:00.360><c> by</c><00:17:00.519><c> digital</c><00:17:00.880><c> means</c><00:17:01.880><c> is</c><00:17:02.120><c> this</c>

17:02

can be replaced by digital means is this can be replaced by digital means is this idea<00:17:03.680><c> that</c><00:17:04.319><c> um</c><00:17:04.720><c> it</c><00:17:04.839><c> is</c><00:17:05.079><c> it's</c><00:17:05.280><c> just</c><00:17:05.439><c> the</c><00:17:05.559><c> perfect</c>

17:05

idea that um it is it's just the perfect idea that um it is it's just the perfect option<00:17:06.199><c> and</c><00:17:06.319><c> as</c><00:17:06.439><c> long</c><00:17:06.600><c> as</c><00:17:06.679><c> it</c><00:17:06.799><c> is</c><00:17:07.039><c> good</c><00:17:07.360><c> it</c><00:17:07.480><c> will</c> option and as long as it is good it will option and as long as it is good it will be<00:17:07.959><c> accepted</c><00:17:08.640><c> and</c><00:17:08.959><c> adopted</c><00:17:09.439><c> by</c><00:17:09.679><c> customers</c><00:17:10.600><c> but</c>

17:10

be accepted and adopted by customers but be accepted and adopted by customers but the<00:17:11.000><c> answer</c><00:17:11.199><c> to</c><00:17:11.360><c> that</c><00:17:11.520><c> poll</c><00:17:11.799><c> question</c><00:17:12.039><c> is</c><00:17:12.199><c> in</c> the answer to that poll question is in the answer to that poll question is in that<00:17:13.039><c> second</c><00:17:13.360><c> sub</c><00:17:13.640><c> bullet</c><00:17:14.360><c> that</c><00:17:14.600><c> there</c><00:17:15.079><c> is</c><00:17:15.480><c> a</c>

17:16

that second sub bullet that there is a that second sub bullet that there is a um<00:17:16.520><c> a</c><00:17:16.679><c> very</c><00:17:17.039><c> clear</c><00:17:17.520><c> sort</c><00:17:17.720><c> of</c><00:17:17.880><c> Bend</c><00:17:18.160><c> in</c><00:17:18.360><c> the</c><00:17:18.600><c> in</c>

17:18

um a very clear sort of Bend in the in um a very clear sort of Bend in the in the<00:17:18.919><c> research</c><00:17:19.919><c> that</c><00:17:20.079><c> says</c><00:17:20.919><c> a</c><00:17:21.400><c> customer's</c><00:17:22.400><c> uh</c>

17:22

the research that says a customer's uh the research that says a customer's uh belief<00:17:23.600><c> uh</c><00:17:23.839><c> that</c><00:17:24.319><c> uh</c><00:17:24.439><c> online</c><00:17:24.799><c> banking</c><00:17:25.120><c> is</c>

17:25

belief uh that uh online banking is belief uh that uh online banking is risky<00:17:25.839><c> or</c><00:17:26.079><c> their</c><00:17:26.280><c> lack</c><00:17:26.480><c> of</c><00:17:26.679><c> trust</c><00:17:27.679><c> in</c><00:17:28.160><c> the</c>

17:28

risky or their lack of trust in the risky or their lack of trust in the platform platform platform will<00:17:29.919><c> prevent</c><00:17:30.240><c> them</c><00:17:30.400><c> from</c><00:17:30.640><c> adopting</c>

17:31

will prevent them from adopting will prevent them from adopting Financial<00:17:32.000><c> technology</c><00:17:32.600><c> so</c><00:17:32.880><c> even</c><00:17:33.160><c> if</c><00:17:33.320><c> the</c>

17:56

platform hey Caleb it's Jean if you can platform hey Caleb it's Jean if you can hear<00:17:57.000><c> me</c><00:17:57.240><c> we</c><00:17:57.360><c> are</c><00:17:57.600><c> unable</c><00:17:58.080><c> to</c><00:17:58.280><c> hear</c><00:17:58.480><c> you</c><00:17:58.919><c> let's</c>

17:59

hear me we are unable to hear you let's hear me we are unable to hear you let's just<00:17:59.320><c> make</c><00:17:59.559><c> sure</c><00:18:00.120><c> that</c><00:18:00.240><c> you</c><00:18:00.400><c> are</c>

18:02

just make sure that you are just make sure that you are connected<00:18:03.200><c> um</c><00:18:03.440><c> oh</c><00:18:03.679><c> I</c><00:18:03.880><c> did</c><00:18:04.120><c> my</c><00:18:04.480><c> volume</c><00:18:05.000><c> we</c><00:18:05.080><c> can</c>

18:05

connected um oh I did my volume we can connected um oh I did my volume we can nope<00:18:05.640><c> we</c><00:18:05.720><c> can</c><00:18:05.880><c> hear</c><00:18:06.039><c> you</c><00:18:06.200><c> now</c><00:18:06.480><c> perfect</c><00:18:07.120><c> okay</c> nope we can hear you now perfect okay nope we can hear you now perfect okay sorry<00:18:07.720><c> um</c><00:18:08.280><c> okay</c><00:18:08.559><c> sorry</c><00:18:09.559><c> um</c><00:18:09.840><c> so</c><00:18:10.840><c> um</c><00:18:11.000><c> where</c><00:18:11.159><c> was</c>

18:11

sorry um okay sorry um so um where was sorry um okay sorry um so um where was it<00:18:11.440><c> okay</c><00:18:11.760><c> so</c><00:18:12.000><c> yes</c><00:18:12.280><c> um</c><00:18:12.400><c> alternative</c><00:18:12.880><c> Financial</c>

18:13

it okay so yes um alternative Financial it okay so yes um alternative Financial Services<00:18:14.039><c> providers</c><00:18:15.039><c> can</c><00:18:16.039><c> um</c><00:18:17.000><c> sort</c><00:18:17.200><c> of</c><00:18:17.280><c> fill</c>

18:17

Services providers can um sort of fill Services providers can um sort of fill in<00:18:17.559><c> the</c><00:18:17.720><c> Gap</c><00:18:17.919><c> if</c><00:18:18.080><c> branches</c><00:18:18.520><c> leave</c><00:18:18.919><c> and</c><00:18:19.120><c> that</c><00:18:19.280><c> is</c>

18:19

in the Gap if branches leave and that is in the Gap if branches leave and that is problematic<00:18:20.159><c> because</c><00:18:20.400><c> they</c><00:18:20.520><c> charge</c><00:18:20.880><c> High</c> problematic because they charge High problematic because they charge High fees<00:18:21.880><c> and</c><00:18:22.080><c> they</c><00:18:22.280><c> they</c><00:18:22.400><c> hurt</c><00:18:23.080><c> customers</c><00:18:24.320><c> so</c>

18:25

fees and they they hurt customers so fees and they they hurt customers so what<00:18:25.840><c> at</c><00:18:26.000><c> least</c><00:18:26.360><c> the</c><00:18:26.520><c> the</c><00:18:26.640><c> challenge</c><00:18:26.919><c> is</c><00:18:27.080><c> with</c> what at least the the challenge is with what at least the the challenge is with this<00:18:27.320><c> argument</c><00:18:27.799><c> is</c><00:18:28.000><c> that</c><00:18:28.240><c> Bank</c><00:18:28.440><c> branches</c>

18:28

this argument is that Bank branches this argument is that Bank branches matter<00:18:29.400><c> and</c><00:18:29.720><c> they</c><00:18:30.039><c> cannot</c><00:18:30.480><c> easily</c><00:18:31.080><c> or</c>

18:31

matter and they cannot easily or matter and they cannot easily or completely<00:18:32.120><c> be</c><00:18:32.640><c> replaced</c><00:18:33.640><c> by</c><00:18:34.120><c> sort</c><00:18:34.320><c> of</c>

18:34

completely be replaced by sort of completely be replaced by sort of digital<00:18:34.880><c> means</c><00:18:35.640><c> let's</c><00:18:35.799><c> go</c><00:18:35.880><c> ahead</c><00:18:36.039><c> and</c><00:18:36.120><c> go</c><00:18:36.200><c> to</c> digital means let's go ahead and go to digital means let's go ahead and go to the<00:18:36.440><c> next</c><00:18:36.600><c> slide</c><00:18:37.520><c> and</c><00:18:37.679><c> I'll</c><00:18:37.840><c> do</c><00:18:38.039><c> these</c><00:18:38.240><c> quick</c>

18:38

the next slide and I'll do these quick the next slide and I'll do these quick so<00:18:38.720><c> we</c><00:18:38.840><c> can</c><00:18:38.960><c> get</c><00:18:39.080><c> into</c><00:18:39.320><c> the</c><00:18:39.440><c> panel</c><00:18:39.840><c> because</c><00:18:40.080><c> I</c> so we can get into the panel because I so we can get into the panel because I know<00:18:40.360><c> we</c><00:18:40.480><c> have</c><00:18:40.799><c> great</c><00:18:41.600><c> uh</c><00:18:41.760><c> panelists</c><00:18:42.159><c> to</c><00:18:42.320><c> offer</c>

18:42

know we have great uh panelists to offer know we have great uh panelists to offer some<00:18:42.720><c> insights</c><00:18:43.120><c> to</c><00:18:43.360><c> us</c><00:18:43.640><c> but</c><00:18:44.240><c> what</c><00:18:44.360><c> I</c><00:18:44.600><c> hope</c><00:18:45.600><c> uh</c>

18:46

some insights to us but what I hope uh some insights to us but what I hope uh the<00:18:46.280><c> these</c><00:18:46.480><c> quotes</c><00:18:46.919><c> offer</c><00:18:47.320><c> you</c><00:18:47.760><c> is</c><00:18:48.440><c> a</c><00:18:48.600><c> call</c><00:18:48.840><c> to</c>

18:49

the these quotes offer you is a call to the these quotes offer you is a call to action<00:18:49.480><c> for</c><00:18:49.720><c> the</c><00:18:50.080><c> researchers</c><00:18:51.080><c> for</c><00:18:51.400><c> the</c>

18:51

action for the researchers for the action for the researchers for the policy<00:18:52.600><c> uh</c><00:18:52.840><c> thinkers</c><00:18:53.320><c> or</c><00:18:53.520><c> the</c><00:18:53.640><c> analysts</c><00:18:54.000><c> in</c>

18:54

policy uh thinkers or the analysts in policy uh thinkers or the analysts in the<00:18:54.200><c> room</c><00:18:54.480><c> that</c><00:18:54.720><c> we</c><00:18:54.919><c> need</c><00:18:55.679><c> more</c><00:18:55.960><c> research</c><00:18:56.520><c> on</c>

18:57

the room that we need more research on the room that we need more research on on<00:18:57.200><c> Bank</c><00:18:57.400><c> branches</c><00:18:57.799><c> specifically</c><00:18:58.240><c> but</c><00:18:58.360><c> the</c> on Bank branches specifically but the on Bank branches specifically but the banking<00:18:58.840><c> and</c><00:18:59.000><c> financial</c><00:18:59.400><c> services</c><00:19:00.280><c> industry</c>

19:01

banking and financial services industry banking and financial services industry more<00:19:01.280><c> generally</c><00:19:02.159><c> it's</c><00:19:02.320><c> important</c><00:19:02.720><c> to</c><00:19:02.880><c> how</c><00:19:03.000><c> we</c>

19:03

more generally it's important to how we more generally it's important to how we think<00:19:03.280><c> about</c><00:19:03.520><c> regulation</c><00:19:04.120><c> how</c><00:19:04.200><c> we</c><00:19:04.320><c> think</c> think about regulation how we think think about regulation how we think about<00:19:04.799><c> policy</c><00:19:05.559><c> as</c><00:19:05.679><c> well</c><00:19:05.799><c> as</c><00:19:05.960><c> that's</c>

19:06

about policy as well as that's about policy as well as that's development<00:19:07.440><c> but</c><00:19:07.600><c> I</c><00:19:07.720><c> may</c><00:19:08.000><c> add</c><00:19:08.320><c> and</c><00:19:08.480><c> this</c><00:19:08.600><c> is</c>

19:08

development but I may add and this is development but I may add and this is sort<00:19:08.880><c> of</c><00:19:09.000><c> the</c><00:19:09.159><c> second</c><00:19:09.480><c> quote</c><00:19:09.799><c> on</c><00:19:09.919><c> the</c><00:19:10.039><c> screen</c> sort of the second quote on the screen sort of the second quote on the screen is<00:19:10.520><c> that</c><00:19:10.720><c> qualitative</c><00:19:11.280><c> research</c><00:19:11.720><c> here</c>

19:11

is that qualitative research here is that qualitative research here matters<00:19:12.320><c> quite</c><00:19:12.520><c> a</c><00:19:12.640><c> bit</c><00:19:13.400><c> uh</c><00:19:13.559><c> banks</c><00:19:13.880><c> are</c><00:19:14.120><c> not</c>

19:14

matters quite a bit uh banks are not matters quite a bit uh banks are not only<00:19:14.480><c> in</c><00:19:14.600><c> the</c><00:19:14.799><c> business</c><00:19:15.200><c> of</c><00:19:15.400><c> numbers</c><00:19:15.799><c> but</c><00:19:15.919><c> in</c> only in the business of numbers but in only in the business of numbers but in the<00:19:16.159><c> business</c><00:19:16.559><c> of</c><00:19:16.880><c> people</c><00:19:17.640><c> and</c><00:19:17.760><c> the</c><00:19:17.880><c> best</c><00:19:18.039><c> way</c>

19:18

the business of people and the best way the business of people and the best way to<00:19:18.280><c> study</c><00:19:18.559><c> people</c><00:19:18.799><c> is</c><00:19:18.919><c> through</c><00:19:19.120><c> qualitative</c> to study people is through qualitative to study people is through qualitative means<00:19:20.120><c> whether</c><00:19:20.360><c> that's</c><00:19:20.799><c> ethnography</c>

19:21

means whether that's ethnography means whether that's ethnography grounded<00:19:22.000><c> Theory</c> grounded Theory grounded Theory phenomenology<00:19:24.200><c> the</c><00:19:24.320><c> more</c><00:19:24.600><c> we</c><00:19:24.720><c> can</c><00:19:24.960><c> get</c><00:19:25.320><c> into</c>

19:25

phenomenology the more we can get into phenomenology the more we can get into the<00:19:25.679><c> Nuance</c><00:19:26.320><c> whether</c><00:19:26.559><c> that's</c><00:19:26.720><c> through</c> the Nuance whether that's through the Nuance whether that's through interviews<00:19:27.400><c> or</c><00:19:27.600><c> observations</c><00:19:28.200><c> the</c><00:19:28.320><c> better</c>

19:28

interviews or observations the better interviews or observations the better all<00:19:28.960><c> we</c><00:19:29.039><c> will</c><00:19:29.200><c> be</c><00:19:29.360><c> as</c><00:19:29.520><c> researchers</c><00:19:30.039><c> and</c> all we will be as researchers and all we will be as researchers and ultimately<00:19:31.159><c> as</c><00:19:31.360><c> regulators</c><00:19:31.880><c> and</c><00:19:32.080><c> policy</c>

19:32

ultimately as regulators and policy ultimately as regulators and policy makers<00:19:32.679><c> if</c><00:19:32.799><c> we</c><00:19:32.960><c> have</c><00:19:33.200><c> really</c><00:19:33.400><c> good</c><00:19:33.640><c> research</c>

19:34

makers if we have really good research makers if we have really good research studying<00:19:35.200><c> these</c><00:19:35.679><c> phenomenon</c><00:19:36.679><c> let's</c><00:19:36.799><c> go</c><00:19:36.919><c> to</c>

19:37

studying these phenomenon let's go to studying these phenomenon let's go to the<00:19:37.240><c> last</c><00:19:37.720><c> slide</c><00:19:38.720><c> and</c><00:19:39.320><c> uh</c><00:19:39.559><c> I'll</c><00:19:39.720><c> make</c><00:19:39.919><c> one</c><00:19:40.039><c> more</c>

19:40

the last slide and uh I'll make one more the last slide and uh I'll make one more call<00:19:40.799><c> that</c><00:19:41.080><c> this</c><00:19:41.440><c> research</c><00:19:41.919><c> matters</c><00:19:42.559><c> not</c><00:19:42.720><c> only</c>

19:42

call that this research matters not only call that this research matters not only generally<00:19:43.400><c> but</c><00:19:43.600><c> right</c><00:19:43.760><c> now</c><00:19:44.520><c> we've</c><00:19:44.799><c> seen</c><00:19:45.120><c> a</c><00:19:45.240><c> lot</c>

19:45

generally but right now we've seen a lot generally but right now we've seen a lot of<00:19:45.520><c> Trends</c><00:19:46.159><c> again</c><00:19:46.360><c> Elena</c><00:19:46.919><c> walked</c><00:19:47.200><c> us</c><00:19:47.360><c> through</c>

19:47

of Trends again Elena walked us through of Trends again Elena walked us through several<00:19:47.919><c> of</c><00:19:48.080><c> them</c><00:19:48.640><c> Branch</c><00:19:49.559><c> Branch</c><00:19:50.159><c> uh</c><00:19:50.280><c> excuse</c>

19:50

several of them Branch Branch uh excuse several of them Branch Branch uh excuse me<00:19:50.640><c> Bank</c><00:19:50.840><c> branches</c><00:19:51.159><c> are</c><00:19:51.320><c> closing</c><00:19:52.159><c> but</c><00:19:52.320><c> that</c>

19:52

me Bank branches are closing but that me Bank branches are closing but that may<00:19:52.840><c> be</c><00:19:53.080><c> plateauing</c><00:19:53.960><c> we</c><00:19:54.080><c> see</c><00:19:54.280><c> the</c><00:19:54.360><c> largest</c>

19:54

may be plateauing we see the largest may be plateauing we see the largest bank<00:19:54.880><c> in</c><00:19:55.000><c> the</c><00:19:55.120><c> country</c><00:19:55.440><c> opening</c><00:19:55.880><c> 500</c><00:19:56.360><c> new</c> bank in the country opening 500 new bank in the country opening 500 new branches<00:19:56.960><c> across</c><00:19:57.280><c> the</c><00:19:57.440><c> country</c><00:19:58.280><c> we</c><00:19:58.400><c> see</c>

19:58

branches across the country we see branches across the country we see smaller<00:19:59.240><c> Community</c><00:19:59.640><c> Banks</c><00:20:00.039><c> maintaining</c><00:20:00.640><c> or</c> smaller Community Banks maintaining or smaller Community Banks maintaining or growing<00:20:01.159><c> their</c><00:20:01.320><c> Branch</c><00:20:01.640><c> footprint</c><00:20:02.080><c> while</c>

20:02

growing their Branch footprint while growing their Branch footprint while larger<00:20:02.640><c> institutions</c><00:20:03.200><c> are</c><00:20:03.400><c> closing</c><00:20:03.840><c> their</c> larger institutions are closing their larger institutions are closing their branches<00:20:04.760><c> there's</c><00:20:05.000><c> just</c><00:20:05.120><c> a</c><00:20:05.240><c> lot</c><00:20:05.360><c> of</c><00:20:05.559><c> their</c>

20:05

branches there's just a lot of their branches there's just a lot of their there<00:20:06.559><c> and</c><00:20:06.760><c> to</c><00:20:06.919><c> the</c><00:20:07.039><c> extent</c><00:20:07.320><c> we</c><00:20:07.440><c> can</c><00:20:07.600><c> lean</c><00:20:07.880><c> in</c>

20:08

there and to the extent we can lean in there and to the extent we can lean in and<00:20:08.559><c> do</c><00:20:08.799><c> some</c><00:20:09.000><c> more</c><00:20:09.240><c> digging</c><00:20:09.720><c> into</c><00:20:10.320><c> this</c><00:20:10.559><c> topic</c>

20:10

and do some more digging into this topic and do some more digging into this topic I<00:20:11.039><c> think</c><00:20:11.159><c> the</c><00:20:11.320><c> better</c><00:20:11.600><c> off</c><00:20:12.080><c> we</c><00:20:12.200><c> will</c><00:20:12.360><c> be</c><00:20:13.080><c> um</c><00:20:13.240><c> as</c>

20:13

I think the better off we will be um as I think the better off we will be um as a<00:20:13.480><c> community</c><00:20:14.240><c> as</c><00:20:14.360><c> well</c><00:20:14.480><c> as</c><00:20:14.679><c> the</c><00:20:14.799><c> better</c><00:20:15.000><c> off</c>

20:15

a community as well as the better off a community as well as the better off regulation<00:20:15.799><c> and</c><00:20:16.000><c> policy</c><00:20:16.400><c> will</c><00:20:16.600><c> be</c><00:20:17.039><c> as</c><00:20:17.240><c> well</c><00:20:17.520><c> so</c>

20:18

regulation and policy will be as well so regulation and policy will be as well so let<00:20:18.159><c> me</c><00:20:18.400><c> stop</c><00:20:18.760><c> there</c><00:20:19.000><c> it's</c><00:20:19.200><c> impossible</c><00:20:19.640><c> to</c><00:20:19.760><c> do</c>

20:20

let me stop there it's impossible to do let me stop there it's impossible to do such<00:20:20.240><c> a</c><00:20:20.440><c> rich</c><00:20:20.840><c> topic</c><00:20:21.320><c> justice</c><00:20:22.320><c> but</c><00:20:22.600><c> uh</c><00:20:22.760><c> I</c><00:20:22.840><c> will</c>

20:22

such a rich topic justice but uh I will such a rich topic justice but uh I will pass<00:20:23.159><c> it</c><00:20:23.360><c> back</c><00:20:23.520><c> to</c><00:20:23.679><c> Sydney</c><00:20:24.360><c> and</c><00:20:24.760><c> uh</c><00:20:24.880><c> we</c><00:20:25.000><c> can</c>

20:25

pass it back to Sydney and uh we can pass it back to Sydney and uh we can start<00:20:25.880><c> uh</c><00:20:26.280><c> through</c><00:20:26.640><c> discussing</c><00:20:27.159><c> through</c><00:20:28.159><c> uh</c>

20:28

start uh through discussing through uh start uh through discussing through uh with<00:20:28.760><c> our</c><00:20:28.880><c> great</c> with our great with our great panelist<00:20:30.760><c> thanks</c><00:20:31.039><c> so</c><00:20:31.200><c> much</c><00:20:31.440><c> Caleb</c><00:20:31.799><c> and</c><00:20:31.960><c> thank</c>

20:32

panelist thanks so much Caleb and thank panelist thanks so much Caleb and thank you<00:20:32.240><c> for</c><00:20:32.480><c> taking</c><00:20:32.799><c> us</c><00:20:33.080><c> through</c><00:20:33.559><c> your</c> you for taking us through your you for taking us through your presentation<00:20:35.080><c> now</c><00:20:35.200><c> I'd</c><00:20:35.360><c> like</c><00:20:35.520><c> to</c><00:20:35.679><c> invite</c><00:20:35.960><c> our</c>

20:36

presentation now I'd like to invite our presentation now I'd like to invite our other<00:20:36.360><c> panelist</c><00:20:36.799><c> to</c><00:20:36.919><c> join</c><00:20:37.159><c> us</c><00:20:37.320><c> on</c><00:20:37.559><c> screen</c><00:20:38.440><c> uh</c>

20:38

other panelist to join us on screen uh other panelist to join us on screen uh Wes<00:20:39.000><c> Miguel</c><00:20:39.559><c> Mike</c><00:20:40.480><c> and</c><00:20:40.640><c> as</c><00:20:40.760><c> our</c><00:20:40.960><c> panelists</c><00:20:41.360><c> are</c>

20:41

Wes Miguel Mike and as our panelists are Wes Miguel Mike and as our panelists are joining<00:20:41.760><c> us</c><00:20:41.919><c> on</c><00:20:42.120><c> screen</c><00:20:42.640><c> we'd</c><00:20:42.840><c> like</c><00:20:42.960><c> to</c><00:20:43.120><c> pull</c> joining us on screen we'd like to pull joining us on screen we'd like to pull the<00:20:43.480><c> audience</c><00:20:43.760><c> to</c><00:20:43.919><c> learn</c><00:20:44.200><c> a</c><00:20:44.320><c> little</c><00:20:44.480><c> bit</c><00:20:44.760><c> about</c>

20:45

the audience to learn a little bit about the audience to learn a little bit about you<00:20:45.919><c> you</c><00:20:46.039><c> will</c><00:20:46.240><c> see</c><00:20:46.640><c> another</c><00:20:47.000><c> poll</c><00:20:47.360><c> appear</c><00:20:47.679><c> on</c>

20:47

you you will see another poll appear on you you will see another poll appear on the<00:20:48.039><c> screen</c><00:20:48.919><c> and</c><00:20:49.039><c> we</c><00:20:49.159><c> want</c><00:20:49.320><c> to</c><00:20:49.480><c> know</c><00:20:49.919><c> what</c><00:20:50.120><c> type</c>

20:50

the screen and we want to know what type the screen and we want to know what type of<00:20:50.440><c> organization</c><00:20:51.039><c> do</c><00:20:51.200><c> you</c><00:20:51.360><c> work</c><00:20:51.600><c> for</c><00:20:52.559><c> the</c>

20:52

of organization do you work for the of organization do you work for the options<00:20:53.039><c> are</c><00:20:53.400><c> financial</c><00:20:54.080><c> institution</c>

20:55

options are financial institution options are financial institution non-bank<00:20:55.760><c> financial</c><00:20:56.400><c> institution</c>

20:57

non-bank financial institution non-bank financial institution regulatory<00:20:58.080><c> agency</c><00:20:59.039><c> Community</c><00:20:59.520><c> organization</c>

21:00

regulatory agency Community organization regulatory agency Community organization or or or other<00:21:02.720><c> and</c><00:21:02.840><c> so</c><00:21:03.000><c> we'll</c><00:21:03.200><c> give</c><00:21:03.280><c> you</c><00:21:03.440><c> all</c><00:21:03.600><c> a</c><00:21:03.760><c> moment</c>

21:04

other and so we'll give you all a moment other and so we'll give you all a moment to<00:21:04.679><c> to</c><00:21:05.039><c> fill</c><00:21:05.280><c> out</c><00:21:05.520><c> that</c><00:21:06.200><c> poll</c><00:21:07.200><c> and</c><00:21:07.440><c> just</c><00:21:07.559><c> want</c>

21:07

to to fill out that poll and just want to to fill out that poll and just want to<00:21:07.799><c> say</c><00:21:07.960><c> thanks</c><00:21:08.200><c> for</c><00:21:08.360><c> helping</c><00:21:08.679><c> us</c><00:21:08.840><c> know</c><00:21:09.120><c> who's</c> to say thanks for helping us know who's to say thanks for helping us know who's in<00:21:09.559><c> the</c><00:21:09.720><c> room</c><00:21:10.600><c> and</c><00:21:10.840><c> I'd</c><00:21:11.000><c> like</c><00:21:11.159><c> to</c><00:21:11.279><c> transition</c>

21:11

in the room and I'd like to transition in the room and I'd like to transition us<00:21:11.960><c> to</c><00:21:12.080><c> our</c><00:21:12.279><c> panel</c><00:21:12.640><c> to</c><00:21:12.760><c> hear</c><00:21:12.919><c> a</c><00:21:13.039><c> little</c><00:21:13.240><c> bit</c> us to our panel to hear a little bit us to our panel to hear a little bit more<00:21:13.919><c> about</c><00:21:14.320><c> how</c><00:21:14.600><c> this</c><00:21:14.720><c> is</c><00:21:14.960><c> happening</c><00:21:15.360><c> in</c>

21:15

more about how this is happening in more about how this is happening in practice<00:21:16.039><c> in</c><00:21:16.159><c> the</c><00:21:16.240><c> field</c><00:21:16.480><c> for</c><00:21:16.720><c> financial</c> practice in the field for financial practice in the field for financial institutions<00:21:18.559><c> and</c><00:21:18.840><c> so</c><00:21:19.840><c> um</c><00:21:20.080><c> welcome</c><00:21:20.679><c> Miguel</c>

21:21

institutions and so um welcome Miguel institutions and so um welcome Miguel welcome<00:21:21.640><c> Mike</c><00:21:22.000><c> welcome</c><00:21:22.320><c> Wes</c><00:21:23.080><c> Caleb</c><00:21:23.440><c> thanks</c>

21:23

welcome Mike welcome Wes Caleb thanks welcome Mike welcome Wes Caleb thanks for<00:21:23.799><c> sticking</c><00:21:24.080><c> around</c><00:21:24.440><c> with</c><00:21:24.640><c> us</c><00:21:25.440><c> you</c><00:21:25.600><c> all</c>

21:25

for sticking around with us you all for sticking around with us you all represent<00:21:26.600><c> a</c><00:21:26.880><c> cross-section</c><00:21:27.880><c> of</c><00:21:28.080><c> financial</c>

21:28

represent a cross-section of financial represent a cross-section of financial institutions<00:21:29.600><c> that</c><00:21:29.720><c> are</c><00:21:29.880><c> serving</c><00:21:30.279><c> a</c><00:21:30.440><c> variety</c>

21:30

institutions that are serving a variety institutions that are serving a variety of<00:21:31.120><c> markets</c><00:21:32.120><c> and</c><00:21:32.360><c> I'd</c><00:21:32.520><c> like</c><00:21:32.679><c> to</c><00:21:32.880><c> start</c><00:21:33.600><c> with</c>

21:33

of markets and I'd like to start with of markets and I'd like to start with just<00:21:34.520><c> having</c><00:21:34.760><c> you</c><00:21:34.880><c> all</c><00:21:35.080><c> tell</c><00:21:35.200><c> us</c><00:21:35.360><c> a</c><00:21:35.480><c> little</c><00:21:35.679><c> bit</c>

21:35

just having you all tell us a little bit just having you all tell us a little bit about<00:21:36.120><c> yourselves</c><00:21:37.000><c> your</c><00:21:37.480><c> institutions</c><00:21:38.480><c> and</c>

21:38

about yourselves your institutions and about yourselves your institutions and to<00:21:38.840><c> answer</c><00:21:39.320><c> this</c><00:21:39.600><c> question</c><00:21:40.600><c> um</c><00:21:40.960><c> why</c><00:21:41.320><c> and</c><00:21:41.480><c> in</c>

21:41

to answer this question um why and in to answer this question um why and in what<00:21:41.960><c> ways</c><00:21:42.480><c> does</c><00:21:42.679><c> your</c><00:21:42.960><c> institution</c> what ways does your institution what ways does your institution prioritize<00:21:44.400><c> Bank</c><00:21:44.760><c> branches</c><00:21:45.760><c> so</c><00:21:45.960><c> Mike</c><00:21:46.240><c> I'll</c>

21:46

prioritize Bank branches so Mike I'll prioritize Bank branches so Mike I'll start<00:21:46.679><c> with</c><00:21:47.320><c> you</c><00:21:48.320><c> thanks</c><00:21:48.600><c> Cindy</c><00:21:49.039><c> and</c><00:21:49.240><c> thanks</c>

21:49

start with you thanks Cindy and thanks start with you thanks Cindy and thanks for<00:21:49.760><c> allowing</c><00:21:50.080><c> me</c><00:21:50.200><c> to</c><00:21:50.360><c> be</c><00:21:50.520><c> a</c><00:21:50.679><c> part</c><00:21:50.840><c> of</c><00:21:51.240><c> this</c><00:21:51.600><c> uh</c>

21:51

for allowing me to be a part of this uh for allowing me to be a part of this uh session<00:21:52.080><c> today</c><00:21:53.000><c> um</c><00:21:53.400><c> Mike</c><00:21:53.640><c> Anderson</c><00:21:54.200><c> I</c><00:21:54.320><c> work</c>

21:54

session today um Mike Anderson I work session today um Mike Anderson I work for<00:21:54.679><c> a</c><00:21:54.840><c> bank</c><00:21:55.039><c> on</c><00:21:55.279><c> Buffalo</c><00:21:55.640><c> a</c><00:21:55.720><c> division</c><00:21:56.039><c> of</c><00:21:56.200><c> CNB</c>

21:56

for a bank on Buffalo a division of CNB for a bank on Buffalo a division of CNB bank<00:21:57.080><c> CNB</c><00:21:57.600><c> bank</c><00:21:57.880><c> is</c><00:21:58.039><c> a</c><00:21:58.799><c> five</c><00:21:59.120><c> billion</c><00:21:59.559><c> doll</c>

21:59

bank CNB bank is a five billion doll bank CNB bank is a five billion doll asset<00:22:00.279><c> Bank</c><00:22:00.520><c> in</c><00:22:00.720><c> central</c><00:22:01.120><c> Pennsylvania</c><00:22:01.840><c> that</c>

22:02

asset Bank in central Pennsylvania that asset Bank in central Pennsylvania that has<00:22:02.279><c> divisions</c><00:22:02.880><c> operating</c><00:22:03.840><c> in</c><00:22:04.000><c> four</c><00:22:04.440><c> States</c>

22:04

has divisions operating in four States has divisions operating in four States including<00:22:05.320><c> Virginia</c><00:22:05.919><c> Ohio</c><00:22:06.440><c> and</c><00:22:07.000><c> up</c><00:22:07.159><c> here</c><00:22:07.320><c> in</c>

22:07

including Virginia Ohio and up here in including Virginia Ohio and up here in Western<00:22:07.880><c> New</c><00:22:08.440><c> York</c><00:22:09.440><c> and</c><00:22:09.960><c> uh</c><00:22:10.200><c> as</c><00:22:10.640><c> my</c><00:22:10.840><c> role</c><00:22:11.200><c> as</c>

22:11

Western New York and uh as my role as Western New York and uh as my role as kind<00:22:11.799><c> of</c><00:22:11.919><c> the</c><00:22:12.039><c> head</c><00:22:12.159><c> of</c><00:22:12.279><c> retail</c><00:22:12.679><c> for</c><00:22:12.960><c> the</c><00:22:13.080><c> bank</c> kind of the head of retail for the bank kind of the head of retail for the bank on<00:22:13.480><c> Buffalo</c><00:22:14.000><c> division</c><00:22:15.000><c> we</c><00:22:15.320><c> uncovered</c><00:22:16.320><c> uh</c><00:22:16.440><c> you</c>

22:16

on Buffalo division we uncovered uh you on Buffalo division we uncovered uh you know<00:22:16.960><c> even</c><00:22:17.120><c> in</c><00:22:17.279><c> Western</c><00:22:17.559><c> New</c><00:22:17.720><c> York</c><00:22:17.919><c> we</c><00:22:18.080><c> have</c> know even in Western New York we have know even in Western New York we have the<00:22:18.480><c> City</c><00:22:18.679><c> of</c><00:22:18.840><c> Buffalo</c><00:22:19.240><c> and</c><00:22:19.360><c> the</c><00:22:19.440><c> Erie</c><00:22:19.840><c> County</c>

22:20

the City of Buffalo and the Erie County the City of Buffalo and the Erie County which<00:22:20.240><c> is</c><00:22:20.360><c> the</c><00:22:20.520><c> major</c><00:22:21.120><c> Urban</c><00:22:21.559><c> metropolitan</c>

22:22

which is the major Urban metropolitan which is the major Urban metropolitan area<00:22:22.679><c> in</c><00:22:22.880><c> this</c><00:22:23.520><c> region</c><00:22:23.880><c> of</c><00:22:24.000><c> the</c><00:22:24.200><c> country</c><00:22:24.919><c> but</c>

22:25

area in this region of the country but area in this region of the country but also<00:22:25.520><c> we</c><00:22:25.760><c> we</c><00:22:26.039><c> we</c><00:22:26.240><c> also</c><00:22:26.559><c> have</c><00:22:27.080><c> uh</c><00:22:27.279><c> rural</c><00:22:28.159><c> uh</c><00:22:28.480><c> a</c>

22:28

also we we we also have uh rural uh a also we we we also have uh rural uh a lot<00:22:28.640><c> of</c><00:22:28.720><c> rural</c><00:22:28.960><c> regions</c><00:22:29.320><c> suburban</c><00:22:29.880><c> and</c><00:22:30.440><c> urban</c>

22:31

lot of rural regions suburban and urban lot of rural regions suburban and urban and<00:22:31.679><c> included</c><00:22:32.120><c> in</c><00:22:32.320><c> those</c><00:22:32.520><c> are</c><00:22:32.960><c> several</c><00:22:33.360><c> Bank</c>

22:33

and included in those are several Bank and included in those are several Bank deserts<00:22:34.279><c> and</c><00:22:34.440><c> one</c><00:22:34.559><c> of</c><00:22:34.679><c> the</c><00:22:34.840><c> things</c><00:22:35.120><c> that</c><00:22:35.320><c> we</c>

22:35

deserts and one of the things that we deserts and one of the things that we tried<00:22:36.200><c> to</c><00:22:36.400><c> accomplish</c><00:22:36.880><c> there</c><00:22:37.039><c> was</c><00:22:37.240><c> how</c><00:22:37.400><c> can</c>

22:37

tried to accomplish there was how can tried to accomplish there was how can we're<00:22:38.400><c> as</c><00:22:38.520><c> a</c><00:22:38.679><c> small</c><00:22:39.000><c> Community</c><00:22:39.640><c> Bank</c><00:22:40.640><c> you</c><00:22:40.799><c> know</c>

22:41

we're as a small Community Bank you know we're as a small Community Bank you know we're<00:22:41.559><c> we're</c><00:22:41.679><c> not</c><00:22:41.840><c> going</c><00:22:41.960><c> to</c><00:22:42.080><c> be</c><00:22:42.240><c> that</c><00:22:42.440><c> bank</c> we're we're not going to be that bank we're we're not going to be that bank that<00:22:42.960><c> has</c><00:22:43.880><c> um</c><00:22:44.120><c> you</c><00:22:44.240><c> know</c><00:22:44.520><c> 35</c><00:22:45.240><c> brick</c><00:22:45.480><c> and</c><00:22:45.600><c> mortar</c>

22:45

that has um you know 35 brick and mortar that has um you know 35 brick and mortar locations<00:22:46.880><c> but</c><00:22:47.360><c> we</c><00:22:47.520><c> still</c><00:22:47.799><c> want</c><00:22:47.960><c> to</c><00:22:48.200><c> be</c><00:22:48.360><c> able</c>

22:48

locations but we still want to be able locations but we still want to be able to<00:22:49.799><c> um</c><00:22:50.799><c> have</c><00:22:50.960><c> Outreach</c><00:22:51.480><c> to</c><00:22:52.240><c> all</c><00:22:52.559><c> different</c>

22:52

to um have Outreach to all different to um have Outreach to all different types<00:22:53.039><c> of</c><00:22:53.200><c> communities</c><00:22:53.880><c> throughout</c><00:22:54.200><c> Western</c> types of communities throughout Western types of communities throughout Western New<00:22:54.720><c> York</c><00:22:55.559><c> and</c><00:22:55.799><c> after</c><00:22:56.320><c> several</c><00:22:56.640><c> years</c><00:22:56.840><c> of</c>

22:57

New York and after several years of New York and after several years of research<00:22:57.600><c> with</c><00:22:58.279><c> um</c><00:22:58.760><c> local</c><00:22:59.120><c> community</c>

23:00

research with um local community research with um local community organizations<00:23:01.039><c> local</c><00:23:01.559><c> religious</c>

23:02

organizations local religious organizations local religious organizations<00:23:03.799><c> um</c><00:23:04.279><c> Community</c><00:23:04.840><c> leaders</c><00:23:05.840><c> we</c>

23:05

organizations um Community leaders we organizations um Community leaders we kind<00:23:06.120><c> of</c><00:23:06.240><c> came</c><00:23:06.480><c> up</c><00:23:06.679><c> the</c><00:23:06.799><c> concept</c><00:23:07.120><c> of</c><00:23:07.240><c> like</c><00:23:07.360><c> a</c> kind of came up the concept of like a kind of came up the concept of like a food<00:23:07.720><c> truck</c><00:23:08.000><c> like</c><00:23:08.120><c> a</c><00:23:08.279><c> banking</c><00:23:09.159><c> truck</c><00:23:09.720><c> concept</c>

23:10

food truck like a banking truck concept food truck like a banking truck concept we<00:23:10.360><c> call</c><00:23:10.520><c> it</c><00:23:10.840><c> uh</c><00:23:10.960><c> Bank</c><00:23:11.240><c> on</c><00:23:11.480><c> Buffalo</c><00:23:12.120><c> uh</c><00:23:12.679><c> uh</c>

23:12

we call it uh Bank on Buffalo uh uh we call it uh Bank on Buffalo uh uh Mobile<00:23:13.279><c> Banking</c><00:23:14.279><c> and</c><00:23:14.520><c> so</c><00:23:14.720><c> our</c><00:23:14.919><c> our</c><00:23:15.120><c> bank</c><00:23:15.360><c> on</c>

23:15

Mobile Banking and so our our bank on Mobile Banking and so our our bank on Wheels<00:23:16.960><c> uh</c><00:23:17.760><c> goes</c><00:23:18.080><c> in</c><00:23:18.720><c> currently</c><00:23:19.120><c> right</c><00:23:19.279><c> now</c><00:23:19.400><c> is</c>

23:19

Wheels uh goes in currently right now is Wheels uh goes in currently right now is going<00:23:20.120><c> uh</c><00:23:20.240><c> into</c><00:23:21.000><c> several</c><00:23:22.000><c> uh</c><00:23:22.320><c> urban</c><00:23:22.840><c> areas</c>

23:23

going uh into several uh urban areas going uh into several uh urban areas that<00:23:23.360><c> we</c><00:23:23.480><c> consider</c><00:23:23.840><c> Bank</c><00:23:24.159><c> deserts</c><00:23:24.640><c> where</c><00:23:25.240><c> to</c>

23:25

that we consider Bank deserts where to that we consider Bank deserts where to Elena's<00:23:26.520><c> research</c><00:23:27.520><c> there</c><00:23:27.679><c> isn't</c><00:23:27.919><c> a</c><00:23:28.080><c> branch</c>

23:28

Elena's research there isn't a branch Elena's research there isn't a branch within<00:23:29.200><c> two</c><00:23:29.520><c> miles</c><00:23:30.200><c> of</c><00:23:30.480><c> of</c><00:23:30.640><c> that</c><00:23:30.799><c> urban</c><00:23:31.240><c> area</c>

23:32

within two miles of of that urban area within two miles of of that urban area and<00:23:32.840><c> we</c><00:23:33.039><c> are</c><00:23:33.600><c> providing</c><00:23:34.080><c> a</c><00:23:34.200><c> full-on</c><00:23:34.640><c> banking</c>

23:35

and we are providing a full-on banking and we are providing a full-on banking services<00:23:35.559><c> we</c><00:23:35.679><c> literally</c><00:23:36.039><c> are</c><00:23:36.880><c> a</c><00:23:37.120><c> a</c><00:23:37.279><c> a</c><00:23:37.440><c> bank</c><00:23:37.720><c> on</c>

23:37

services we literally are a a a bank on services we literally are a a a bank on Wheels<00:23:38.400><c> we</c><00:23:38.600><c> have</c><00:23:38.840><c> a</c><00:23:39.159><c> teller</c><00:23:39.600><c> station</c><00:23:40.039><c> with</c><00:23:40.200><c> an</c>

23:40

Wheels we have a teller station with an Wheels we have a teller station with an ATM<00:23:41.240><c> and</c><00:23:41.360><c> even</c><00:23:41.600><c> a</c><00:23:41.799><c> desk</c><00:23:42.240><c> that</c><00:23:42.960><c> um</c><00:23:43.279><c> you</c><00:23:43.400><c> could</c>

23:43

ATM and even a desk that um you could ATM and even a desk that um you could sit<00:23:43.799><c> down</c><00:23:43.960><c> and</c><00:23:44.159><c> apply</c><00:23:44.520><c> for</c><00:23:44.679><c> a</c><00:23:44.799><c> mortgage</c>

23:45

sit down and apply for a mortgage sit down and apply for a mortgage anything<00:23:46.000><c> you</c><00:23:46.120><c> can</c><00:23:46.320><c> do</c><00:23:47.000><c> in</c><00:23:47.120><c> a</c><00:23:47.279><c> branch</c><00:23:47.720><c> whether</c>

23:47

anything you can do in a branch whether anything you can do in a branch whether it's<00:23:48.080><c> wire</c><00:23:48.400><c> money</c><00:23:48.720><c> apply</c><00:23:49.039><c> for</c><00:23:49.200><c> a</c><00:23:49.320><c> mortgage</c><00:23:50.320><c> uh</c>

23:50

it's wire money apply for a mortgage uh it's wire money apply for a mortgage uh just<00:23:50.880><c> trans</c><00:23:51.440><c> withdrawing</c><00:23:51.919><c> money</c><00:23:52.200><c> from</c><00:23:52.559><c> a</c><00:23:52.880><c> um</c><00:23:53.240><c> a</c>

23:53

just trans withdrawing money from a um a just trans withdrawing money from a um a teller<00:23:54.279><c> tow</c><00:23:54.679><c> withdraw</c><00:23:55.039><c> cash</c><00:23:55.200><c> out</c><00:23:55.320><c> of</c><00:23:55.440><c> a</c>

23:55

teller tow withdraw cash out of a teller tow withdraw cash out of a savings<00:23:55.840><c> account</c><00:23:56.360><c> we</c><00:23:56.520><c> can</c><00:23:56.760><c> do</c><00:23:57.039><c> that</c><00:23:57.400><c> and</c><00:23:58.120><c> um</c><00:23:58.720><c> it</c>

23:58

savings account we can do that and um it savings account we can do that and um it it<00:23:59.120><c> it</c><00:23:59.200><c> took</c><00:23:59.559><c> a</c><00:23:59.679><c> couple</c><00:24:00.000><c> years</c><00:24:00.440><c> to</c><00:24:00.840><c> research</c>

24:01

it it took a couple years to research it it took a couple years to research that<00:24:01.720><c> and</c><00:24:01.880><c> find</c><00:24:02.080><c> out</c><00:24:02.279><c> where</c><00:24:02.400><c> are</c><00:24:02.520><c> the</c><00:24:02.679><c> right</c> that and find out where are the right that and find out where are the right spots<00:24:03.480><c> where</c><00:24:03.640><c> are</c><00:24:03.760><c> the</c><00:24:03.880><c> right</c><00:24:04.080><c> locations</c><00:24:04.640><c> who</c>

24:04

spots where are the right locations who spots where are the right locations who needs<00:24:05.000><c> it</c><00:24:05.200><c> the</c><00:24:05.440><c> most</c><00:24:06.440><c> and</c><00:24:06.919><c> uh</c><00:24:07.400><c> we</c><00:24:07.600><c> thought</c><00:24:08.240><c> uh</c>

24:08

needs it the most and uh we thought uh needs it the most and uh we thought uh so<00:24:08.880><c> far</c><00:24:09.320><c> we're</c><00:24:09.559><c> very</c><00:24:09.840><c> proud</c><00:24:10.159><c> of</c><00:24:10.760><c> of</c><00:24:10.880><c> the</c><00:24:11.039><c> work</c>

24:11

so far we're very proud of of the work so far we're very proud of of the work we're<00:24:11.400><c> seeing</c><00:24:11.799><c> so</c>

24:13

we're seeing so we're seeing so far<00:24:14.679><c> thanks</c><00:24:15.159><c> Mike</c><00:24:16.159><c> what</c><00:24:16.400><c> I'll</c><00:24:16.600><c> come</c><00:24:16.760><c> to</c><00:24:17.000><c> you</c>

24:17

far thanks Mike what I'll come to you far thanks Mike what I'll come to you what's<00:24:17.880><c> happening</c><00:24:18.200><c> at</c><00:24:18.400><c> Midwest</c><00:24:18.840><c> Bank</c><00:24:19.320><c> Center</c>

24:20

what's happening at Midwest Bank Center what's happening at Midwest Bank Center well<00:24:20.520><c> good</c><00:24:20.720><c> afternoon</c><00:24:21.240><c> and</c><00:24:21.400><c> and</c><00:24:21.520><c> you</c><00:24:21.760><c> thank</c> well good afternoon and and you thank well good afternoon and and you thank you<00:24:21.960><c> for</c><00:24:22.120><c> having</c><00:24:22.440><c> us</c><00:24:22.880><c> on</c><00:24:23.200><c> as</c><00:24:23.440><c> panelists</c><00:24:24.080><c> this</c>

24:24

you for having us on as panelists this you for having us on as panelists this is<00:24:24.440><c> a</c><00:24:24.760><c> a</c><00:24:24.919><c> privilege</c><00:24:25.320><c> to</c><00:24:25.440><c> share</c><00:24:25.840><c> the</c><00:24:26.039><c> the</c> is a a privilege to share the the is a a privilege to share the the research<00:24:26.559><c> that</c><00:24:26.679><c> we</c><00:24:26.880><c> found</c><00:24:27.120><c> in</c><00:24:27.279><c> our</c><00:24:27.440><c> different</c>

24:27

research that we found in our different research that we found in our different markets<00:24:28.840><c> um</c><00:24:29.120><c> primarily</c><00:24:29.640><c> with</c><00:24:29.799><c> Midwest</c><00:24:30.240><c> Bank</c>

24:30

markets um primarily with Midwest Bank markets um primarily with Midwest Bank Center<00:24:31.360><c> um</c><00:24:32.200><c> we're</c><00:24:32.320><c> in</c><00:24:32.440><c> the</c><00:24:32.559><c> St</c><00:24:32.799><c> Louis</c><00:24:33.080><c> region</c>

24:33

Center um we're in the St Louis region Center um we're in the St Louis region St<00:24:33.640><c> Louis</c><00:24:34.000><c> Missouri</c><00:24:35.000><c> uh</c><00:24:35.159><c> which</c><00:24:35.360><c> does</c><00:24:35.720><c> have</c><00:24:36.520><c> a</c>

24:36

St Louis Missouri uh which does have a St Louis Missouri uh which does have a lot<00:24:36.720><c> of</c><00:24:37.440><c> possible</c><00:24:38.159><c> uh</c><00:24:38.279><c> banking</c><00:24:38.640><c> deserts</c><00:24:39.080><c> if</c>

24:39

lot of possible uh banking deserts if lot of possible uh banking deserts if you<00:24:39.279><c> look</c><00:24:39.399><c> at</c><00:24:39.480><c> the</c><00:24:39.640><c> research</c><00:24:40.000><c> that</c><00:24:40.159><c> Elena</c> you look at the research that Elena you look at the research that Elena provided<00:24:41.000><c> earlier</c><00:24:42.000><c> um</c><00:24:42.159><c> personally</c><00:24:42.520><c> I</c><00:24:42.600><c> grew</c><00:24:42.799><c> up</c>

24:42

provided earlier um personally I grew up provided earlier um personally I grew up in<00:24:43.000><c> a</c><00:24:43.120><c> very</c><00:24:43.279><c> rural</c><00:24:43.679><c> community</c><00:24:44.159><c> that</c><00:24:44.360><c> is</c><00:24:44.559><c> a</c><00:24:44.960><c> a</c>

24:45

in a very rural community that is a a in a very rural community that is a a possible<00:24:45.600><c> banking</c><00:24:45.919><c> desert</c><00:24:46.279><c> if</c><00:24:46.399><c> you</c><00:24:46.480><c> look</c><00:24:46.600><c> at</c> possible banking desert if you look at possible banking desert if you look at the<00:24:46.840><c> one</c><00:24:47.120><c> branch</c><00:24:47.520><c> that's</c><00:24:47.720><c> in</c><00:24:48.360><c> you</c><00:24:48.480><c> know</c><00:24:48.640><c> a</c>

24:48

the one branch that's in you know a the one branch that's in you know a close<00:24:49.240><c> proximity</c><00:24:49.760><c> to</c><00:24:50.000><c> the</c><00:24:50.240><c> the</c><00:24:50.360><c> small</c> close proximity to the the small close proximity to the the small community<00:24:51.039><c> I</c><00:24:51.159><c> grew</c><00:24:51.399><c> up</c><00:24:51.559><c> in</c><00:24:51.880><c> so</c><00:24:52.480><c> uh</c><00:24:52.600><c> this</c><00:24:52.679><c> is</c>

24:52

community I grew up in so uh this is community I grew up in so uh this is near<00:24:53.039><c> and</c><00:24:53.240><c> deer</c><00:24:53.520><c> it's</c><00:24:53.679><c> been</c><00:24:53.880><c> that</c><00:24:54.039><c> way</c><00:24:54.200><c> for</c> near and deer it's been that way for near and deer it's been that way for many<00:24:54.600><c> many</c><00:24:54.919><c> years</c><00:24:55.880><c> um</c><00:24:56.080><c> if</c><00:24:56.200><c> you</c><00:24:56.399><c> look</c><00:24:56.799><c> at</c><00:24:57.600><c> um</c>

24:58

many many years um if you look at um many many years um if you look at um if<00:24:59.000><c> you</c><00:24:59.200><c> look</c><00:24:59.640><c> at</c><00:25:00.039><c> where</c><00:25:00.279><c> we</c><00:25:00.440><c> are</c><00:25:00.840><c> in</c><00:25:01.039><c> St</c><00:25:01.320><c> Louis</c>

25:01

if you look at where we are in St Louis if you look at where we are in St Louis Midwest<00:25:02.159><c> Bank</c><00:25:02.399><c> Center</c><00:25:02.679><c> has</c><00:25:02.840><c> been</c><00:25:03.320><c> in</c><00:25:03.440><c> the</c><00:25:03.559><c> St</c>

25:03

Midwest Bank Center has been in the St Midwest Bank Center has been in the St Louis<00:25:04.080><c> region</c><00:25:04.480><c> since</c><00:25:04.760><c> 1906</c><00:25:05.760><c> we</c><00:25:05.919><c> are</c><00:25:06.600><c> really</c>

25:06

Louis region since 1906 we are really Louis region since 1906 we are really the<00:25:07.000><c> Pinnacle</c><00:25:07.440><c> of</c><00:25:07.600><c> community</c><00:25:08.039><c> banking</c><00:25:08.559><c> you</c> the Pinnacle of community banking you the Pinnacle of community banking you know<00:25:08.919><c> 100</c><00:25:09.360><c> plus</c><00:25:09.559><c> year</c><00:25:09.760><c> old</c><00:25:10.039><c> institution</c>

25:10

know 100 plus year old institution know 100 plus year old institution privately<00:25:11.080><c> owned</c><00:25:11.360><c> familyowned</c><00:25:11.880><c> and</c><00:25:12.840><c> we</c><00:25:12.960><c> have</c>

25:13

privately owned familyowned and we have privately owned familyowned and we have 16<00:25:13.840><c> Banking</c><00:25:14.159><c> locations</c><00:25:14.799><c> throughout</c><00:25:15.120><c> the</c>

25:15

16 Banking locations throughout the 16 Banking locations throughout the region<00:25:16.679><c> we're</c><00:25:16.880><c> a</c><00:25:16.919><c> $2.7</c><00:25:17.640><c> billion</c><00:25:18.039><c> dollar</c><00:25:18.279><c> bank</c>

25:18

region we're a $2.7 billion dollar bank region we're a $2.7 billion dollar bank and<00:25:18.720><c> we've</c><00:25:18.919><c> we've</c><00:25:19.080><c> grown</c><00:25:19.399><c> most</c><00:25:19.559><c> of</c><00:25:19.720><c> that</c> and we've we've grown most of that and we've we've grown most of that organically<00:25:20.520><c> over</c><00:25:20.760><c> the</c><00:25:20.919><c> years</c><00:25:21.880><c> if</c><00:25:22.000><c> we</c><00:25:22.159><c> look</c><00:25:22.679><c> at</c>

25:23

organically over the years if we look at organically over the years if we look at um<00:25:23.679><c> the</c><00:25:23.840><c> priorities</c><00:25:24.240><c> of</c><00:25:24.399><c> Midwest</c><00:25:24.799><c> Bank</c><00:25:25.000><c> Center</c>

25:25

um the priorities of Midwest Bank Center um the priorities of Midwest Bank Center specific<00:25:26.279><c> to</c><00:25:26.480><c> our</c><00:25:26.679><c> Branch</c><00:25:27.159><c> Network</c><00:25:28.000><c> you</c><00:25:28.120><c> know</c>

25:28

specific to our Branch Network you know specific to our Branch Network you know we<00:25:28.799><c> we</c><00:25:28.960><c> we</c><00:25:29.080><c> say</c><00:25:29.279><c> one</c><00:25:29.399><c> of</c><00:25:29.520><c> our</c><00:25:29.640><c> phrases</c><00:25:30.000><c> is</c><00:25:30.159><c> we</c> we we we say one of our phrases is we we we we say one of our phrases is we serve<00:25:30.559><c> the</c><00:25:30.679><c> entirety</c><00:25:31.120><c> of</c><00:25:31.240><c> our</c><00:25:31.399><c> region</c><00:25:32.039><c> and</c><00:25:32.200><c> by</c>

25:32

serve the entirety of our region and by serve the entirety of our region and by saying<00:25:32.720><c> that</c><00:25:32.919><c> we</c><00:25:33.039><c> have</c><00:25:33.159><c> to</c><00:25:33.440><c> we</c><00:25:33.559><c> have</c><00:25:33.640><c> to</c><00:25:33.799><c> do</c> saying that we have to we have to do saying that we have to we have to do that<00:25:34.200><c> that</c><00:25:34.320><c> means</c><00:25:34.520><c> we</c><00:25:34.679><c> have</c><00:25:34.760><c> to</c><00:25:34.880><c> be</c><00:25:35.080><c> part</c><00:25:35.240><c> of</c>

25:35

that that means we have to be part of that that means we have to be part of our<00:25:35.600><c> communities</c><00:25:36.080><c> that</c><00:25:36.279><c> we</c><00:25:36.399><c> say</c><00:25:36.559><c> we're</c> our communities that we say we're our communities that we say we're serving<00:25:37.760><c> regardless</c><00:25:38.320><c> of</c><00:25:38.600><c> affluence</c>

25:39

serving regardless of affluence serving regardless of affluence regardless<00:25:39.720><c> of</c><00:25:39.960><c> the</c><00:25:40.200><c> accessibility</c><00:25:40.919><c> that</c> regardless of the accessibility that regardless of the accessibility that they've<00:25:41.679><c> that</c><00:25:41.840><c> those</c><00:25:42.039><c> consumers</c><00:25:42.520><c> might</c><00:25:42.679><c> have</c>

25:42

they've that those consumers might have they've that those consumers might have had<00:25:43.880><c> uh</c><00:25:43.960><c> so</c><00:25:44.120><c> we're</c><00:25:44.320><c> proud</c><00:25:44.559><c> to</c><00:25:44.679><c> say</c><00:25:45.000><c> of</c><00:25:45.200><c> those</c><00:25:45.360><c> 16</c>

25:45

had uh so we're proud to say of those 16 had uh so we're proud to say of those 16 branches<00:25:46.520><c> roughly</c><00:25:46.919><c> half</c><00:25:47.080><c> of</c><00:25:47.240><c> those</c><00:25:47.399><c> are</c><00:25:47.520><c> in</c> branches roughly half of those are in branches roughly half of those are in low<00:25:47.799><c> and</c><00:25:47.919><c> moderate</c><00:25:48.279><c> income</c><00:25:48.880><c> communities</c><00:25:49.880><c> uh</c>

25:50

low and moderate income communities uh low and moderate income communities uh most<00:25:50.320><c> of</c><00:25:50.520><c> them</c><00:25:50.760><c> are</c><00:25:51.039><c> you</c><00:25:51.159><c> know</c><00:25:51.320><c> we</c><00:25:51.520><c> we</c><00:25:51.640><c> we</c><00:25:51.760><c> have</c> most of them are you know we we we have most of them are you know we we we have a<00:25:52.000><c> presence</c><00:25:52.360><c> in</c><00:25:52.480><c> the</c><00:25:52.600><c> north</c><00:25:52.880><c> county</c>

25:53

a presence in the north county a presence in the north county communities<00:25:54.120><c> Ferguson</c><00:25:54.640><c> Missouri</c><00:25:55.120><c> is</c><00:25:55.640><c> you</c>

25:55

communities Ferguson Missouri is you communities Ferguson Missouri is you know<00:25:56.200><c> hit</c><00:25:56.360><c> the</c><00:25:56.480><c> news</c><00:25:56.840><c> media</c><00:25:57.399><c> several</c><00:25:57.720><c> years</c>

25:57

know hit the news media several years know hit the news media several years ago<00:25:58.279><c> for</c><00:25:58.399><c> terrible</c><00:25:58.840><c> tragedies</c><00:25:59.840><c> uh</c><00:26:00.000><c> and</c><00:26:00.320><c> we</c>

26:00

ago for terrible tragedies uh and we ago for terrible tragedies uh and we just<00:26:00.640><c> recently</c><00:26:01.080><c> opened</c><00:26:01.480><c> a</c><00:26:01.640><c> location</c><00:26:02.039><c> that</c> just recently opened a location that just recently opened a location that serves<00:26:02.440><c> the</c><00:26:02.520><c> Ferguson</c><00:26:03.039><c> Community</c><00:26:03.360><c> in</c><00:26:03.480><c> the</c>

26:03

serves the Ferguson Community in the serves the Ferguson Community in the neighboring<00:26:04.000><c> community</c><00:26:04.360><c> of</c><00:26:04.600><c> Delwood</c><00:26:05.600><c> uh</c><00:26:05.720><c> so</c>

26:05

neighboring community of Delwood uh so neighboring community of Delwood uh so it's<00:26:06.000><c> been</c><00:26:06.159><c> Our</c><00:26:06.399><c> intention</c><00:26:07.240><c> uh</c><00:26:07.399><c> to</c><00:26:08.240><c> uh</c><00:26:08.520><c> to</c><00:26:08.799><c> to</c>

26:08

it's been Our intention uh to uh to to it's been Our intention uh to uh to to live<00:26:09.159><c> in</c><00:26:09.320><c> to</c><00:26:09.520><c> the</c><00:26:09.640><c> saying</c><00:26:09.960><c> that</c><00:26:10.080><c> we</c><00:26:10.200><c> serve</c><00:26:10.480><c> the</c> live in to the saying that we serve the live in to the saying that we serve the entirety<00:26:11.000><c> of</c><00:26:11.080><c> our</c><00:26:11.240><c> region</c><00:26:11.559><c> by</c><00:26:11.679><c> being</c><00:26:11.960><c> present</c>

26:12

entirety of our region by being present entirety of our region by being present being<00:26:12.840><c> part</c><00:26:13.000><c> of</c><00:26:13.120><c> our</c><00:26:13.279><c> community</c><00:26:13.720><c> Staffing</c> being part of our community Staffing being part of our community Staffing from<00:26:14.799><c> the</c><00:26:14.960><c> stakeholders</c><00:26:15.520><c> of</c><00:26:15.679><c> the</c><00:26:15.840><c> community</c>

26:16

from the stakeholders of the community from the stakeholders of the community you<00:26:16.760><c> know</c><00:26:17.159><c> the</c><00:26:17.279><c> people</c><00:26:17.520><c> that</c><00:26:17.640><c> you</c><00:26:17.720><c> would</c><00:26:17.840><c> go</c><00:26:17.960><c> to</c> you know the people that you would go to you know the people that you would go to church<00:26:18.360><c> with</c><00:26:18.559><c> that</c><00:26:18.640><c> your</c><00:26:18.799><c> kids</c><00:26:19.039><c> go</c><00:26:19.159><c> to</c><00:26:19.320><c> school</c>

26:19

church with that your kids go to school church with that your kids go to school with<00:26:20.360><c> um</c><00:26:20.520><c> Community</c><00:26:20.919><c> stakeholders</c><00:26:21.520><c> that</c><00:26:21.600><c> are</c>

26:21

with um Community stakeholders that are with um Community stakeholders that are lead<00:26:22.080><c> leaders</c><00:26:22.440><c> and</c><00:26:22.640><c> trusted</c><00:26:23.039><c> advisers</c><00:26:23.600><c> so</c> lead leaders and trusted advisers so lead leaders and trusted advisers so when<00:26:23.919><c> we</c><00:26:24.080><c> look</c><00:26:24.200><c> at</c><00:26:24.360><c> our</c><00:26:24.520><c> strategy</c><00:26:24.960><c> behind</c><00:26:25.240><c> our</c>

26:25

when we look at our strategy behind our when we look at our strategy behind our Branch<00:26:25.840><c> Network</c><00:26:26.840><c> um</c><00:26:27.080><c> we</c><00:26:27.240><c> have</c><00:26:27.360><c> to</c><00:26:27.480><c> be</c><00:26:27.640><c> by</c><00:26:27.840><c> and</c>

26:27

Branch Network um we have to be by and Branch Network um we have to be by and of<00:26:28.440><c> from</c><00:26:28.640><c> our</c><00:26:28.840><c> communities</c><00:26:29.279><c> in</c><00:26:29.399><c> order</c><00:26:29.600><c> to</c> of from our communities in order to of from our communities in order to effectively<00:26:30.240><c> serve</c>

26:31

effectively serve effectively serve them<00:26:32.360><c> thanks</c><00:26:32.720><c> Wes</c><00:26:32.960><c> and</c><00:26:33.159><c> it</c><00:26:33.360><c> feels</c><00:26:33.600><c> like</c><00:26:33.720><c> I'm</c>

26:33

them thanks Wes and it feels like I'm them thanks Wes and it feels like I'm starting<00:26:34.039><c> to</c><00:26:34.159><c> hear</c><00:26:34.320><c> a</c><00:26:34.399><c> bit</c><00:26:34.520><c> of</c><00:26:34.640><c> a</c><00:26:34.760><c> trend</c><00:26:35.120><c> here</c> starting to hear a bit of a trend here starting to hear a bit of a trend here from<00:26:35.520><c> you</c><00:26:35.720><c> and</c><00:26:35.960><c> Mike</c><00:26:36.200><c> on</c><00:26:36.520><c> serving</c><00:26:36.880><c> the</c>

26:37

from you and Mike on serving the from you and Mike on serving the entirety<00:26:37.520><c> of</c><00:26:37.679><c> the</c><00:26:37.840><c> community</c><00:26:38.760><c> I'm</c><00:26:38.919><c> Miguel</c>

26:39

entirety of the community I'm Miguel entirety of the community I'm Miguel I'll<00:26:39.399><c> come</c><00:26:39.559><c> to</c><00:26:39.799><c> you</c><00:26:40.279><c> to</c><00:26:40.480><c> talk</c><00:26:40.640><c> a</c><00:26:40.720><c> little</c><00:26:40.880><c> bit</c> I'll come to you to talk a little bit I'll come to you to talk a little bit about<00:26:41.279><c> your</c><00:26:41.480><c> work</c><00:26:41.760><c> and</c><00:26:42.080><c> about</c>

26:42

about your work and about about your work and about southern<00:26:43.960><c> thank</c><00:26:44.200><c> you</c><00:26:44.559><c> well</c><00:26:44.799><c> first</c><00:26:45.039><c> I</c><00:26:45.120><c> want</c><00:26:45.240><c> to</c>

26:45

southern thank you well first I want to southern thank you well first I want to thank<00:26:45.720><c> the</c><00:26:45.960><c> St</c><00:26:46.200><c> Louis</c><00:26:46.520><c> fed</c><00:26:46.799><c> and</c><00:26:46.919><c> the</c> thank the St Louis fed and the thank the St Louis fed and the Philadelphia<00:26:47.840><c> the</c><00:26:48.520><c> Philadelphia</c><00:26:49.080><c> fed</c><00:26:49.320><c> for</c>

26:49

Philadelphia the Philadelphia fed for Philadelphia the Philadelphia fed for this<00:26:50.200><c> this</c><00:26:50.320><c> research</c><00:26:50.720><c> is</c><00:26:50.919><c> important</c><00:26:51.360><c> it's</c>

26:51

this this research is important it's this this research is important it's vital<00:26:52.039><c> as</c><00:26:52.279><c> Caleb</c><00:26:53.000><c> eloquently</c><00:26:53.559><c> stated</c><00:26:53.960><c> it's</c>

26:54

vital as Caleb eloquently stated it's vital as Caleb eloquently stated it's also<00:26:54.360><c> near</c><00:26:54.559><c> and</c><00:26:54.679><c> dear</c><00:26:54.880><c> to</c><00:26:55.000><c> who</c><00:26:55.120><c> we</c><00:26:55.240><c> are</c><00:26:55.440><c> as</c><00:26:55.520><c> a</c> also near and dear to who we are as a also near and dear to who we are as a financial<00:26:56.159><c> institution</c><00:26:57.120><c> we</c><00:26:57.240><c> are</c><00:26:57.399><c> one</c><00:26:57.520><c> of</c><00:26:57.640><c> the</c>

26:57

financial institution we are one of the financial institution we are one of the oldest<00:26:58.039><c> and</c><00:26:58.360><c> largest</c><00:26:58.640><c> cdfi</c><00:26:59.240><c> banks</c><00:26:59.480><c> in</c><00:26:59.640><c> the</c>

26:59

oldest and largest cdfi banks in the oldest and largest cdfi banks in the nation<00:27:01.399><c> um</c><00:27:02.399><c> my</c><00:27:02.600><c> role</c><00:27:02.880><c> here</c><00:27:03.080><c> as</c><00:27:03.159><c> a</c><00:27:03.279><c> market</c>

27:03

nation um my role here as a market nation um my role here as a market strategy<00:27:04.000><c> executive</c><00:27:04.440><c> is</c><00:27:04.559><c> really</c><00:27:04.799><c> positioning</c> strategy executive is really positioning strategy executive is really positioning the<00:27:05.440><c> bank</c><00:27:05.679><c> going</c><00:27:05.919><c> into</c><00:27:06.200><c> our</c><00:27:06.360><c> expansion</c>

27:06

the bank going into our expansion the bank going into our expansion markets<00:27:07.840><c> and</c><00:27:08.279><c> helping</c><00:27:09.279><c> uh</c><00:27:09.399><c> helping</c><00:27:09.640><c> US</c><00:27:09.840><c> Bank</c>

27:10

markets and helping uh helping US Bank markets and helping uh helping US Bank the<00:27:10.240><c> Hispanic</c><00:27:10.679><c> community</c><00:27:11.679><c> in</c><00:27:11.840><c> delivering</c><00:27:12.320><c> our</c>

27:12

the Hispanic community in delivering our the Hispanic community in delivering our promise<00:27:12.880><c> to</c><00:27:13.000><c> be</c><00:27:13.159><c> Wealth</c><00:27:13.399><c> Builders</c><00:27:13.799><c> for</c><00:27:13.960><c> all</c><00:27:14.200><c> of</c> promise to be Wealth Builders for all of promise to be Wealth Builders for all of us<00:27:15.200><c> uh</c><00:27:15.559><c> this</c><00:27:15.760><c> topic</c><00:27:16.039><c> is</c><00:27:16.159><c> so</c><00:27:16.360><c> interesting</c><00:27:16.720><c> for</c>

27:16

us uh this topic is so interesting for us uh this topic is so interesting for us<00:27:17.200><c> because</c><00:27:18.200><c> in</c><00:27:19.200><c> uh</c><00:27:19.399><c> 70%</c><00:27:20.039><c> of</c><00:27:20.159><c> our</c><00:27:20.320><c> branches</c>

27:20

us because in uh 70% of our branches us because in uh 70% of our branches there's<00:27:21.120><c> in</c><00:27:21.279><c> 70%</c><00:27:21.799><c> of</c><00:27:21.880><c> our</c><00:27:22.000><c> markets</c><00:27:22.399><c> where</c> there's in 70% of our markets where there's in 70% of our markets where we're<00:27:22.679><c> in</c><00:27:22.840><c> there's</c><00:27:23.039><c> less</c><00:27:23.200><c> than</c><00:27:23.399><c> 25,000</c><00:27:24.320><c> people</c>

27:24

we're in there's less than 25,000 people we're in there's less than 25,000 people so<00:27:24.760><c> we're</c><00:27:24.919><c> in</c><00:27:25.120><c> very</c><00:27:25.360><c> rural</c><00:27:25.840><c> communities</c><00:27:26.840><c> uh</c>

27:26

so we're in very rural communities uh so we're in very rural communities uh and<00:27:27.080><c> in</c><00:27:27.320><c> fact</c><00:27:27.880><c> in</c><00:27:28.240><c> nine</c><00:27:28.559><c> communities</c><00:27:28.960><c> that</c>

27:29

and in fact in nine communities that and in fact in nine communities that we're<00:27:29.240><c> in</c><00:27:29.399><c> we're</c><00:27:29.559><c> the</c><00:27:29.679><c> only</c><00:27:29.960><c> Bank</c><00:27:30.200><c> in</c><00:27:30.399><c> town</c><00:27:30.880><c> so</c>

27:31

we're in we're the only Bank in town so we're in we're the only Bank in town so we're<00:27:31.640><c> kind</c><00:27:31.760><c> of</c><00:27:32.000><c> that</c><00:27:32.640><c> last</c><00:27:32.960><c> bank</c><00:27:33.159><c> in</c><00:27:33.320><c> town</c><00:27:33.559><c> if</c>

27:33

we're kind of that last bank in town if we're kind of that last bank in town if you<00:27:33.799><c> will</c><00:27:34.000><c> propping</c><00:27:34.360><c> up</c><00:27:34.919><c> um</c><00:27:35.720><c> the</c><00:27:35.840><c> financial</c>

27:36

you will propping up um the financial you will propping up um the financial institutions<00:27:37.480><c> and</c><00:27:38.080><c> you</c><00:27:38.200><c> know</c><00:27:38.600><c> Caleb</c><00:27:39.240><c> Caleb's</c>

27:39

institutions and you know Caleb Caleb's institutions and you know Caleb Caleb's research<00:27:40.600><c> um</c><00:27:41.360><c> does</c><00:27:41.600><c> such</c><00:27:41.760><c> a</c><00:27:41.880><c> good</c><00:27:42.039><c> job</c><00:27:42.320><c> but</c><00:27:42.600><c> we</c>

27:42

research um does such a good job but we research um does such a good job but we see<00:27:42.960><c> it</c><00:27:43.120><c> every</c><00:27:43.279><c> day</c><00:27:43.480><c> with</c><00:27:43.600><c> our</c><00:27:43.799><c> customers</c>

27:44

see it every day with our customers see it every day with our customers branches<00:27:45.240><c> are</c><00:27:45.480><c> more</c><00:27:45.760><c> than</c><00:27:45.960><c> just</c><00:27:46.120><c> a</c><00:27:46.279><c> place</c><00:27:46.440><c> to</c> branches are more than just a place to branches are more than just a place to go<00:27:46.760><c> park</c><00:27:46.960><c> your</c><00:27:47.080><c> money</c><00:27:47.399><c> at</c><00:27:47.600><c> night</c><00:27:48.279><c> they're</c>

27:48

go park your money at night they're go park your money at night they're opportunity<00:27:49.360><c> centers</c><00:27:50.360><c> um</c><00:27:50.519><c> and</c><00:27:50.679><c> they're</c>

27:50

opportunity centers um and they're opportunity centers um and they're places<00:27:51.399><c> where</c><00:27:51.600><c> you</c><00:27:51.760><c> build</c><00:27:52.159><c> relationships</c> places where you build relationships places where you build relationships with<00:27:53.039><c> your</c><00:27:53.440><c> local</c><00:27:53.880><c> Banker</c><00:27:54.880><c> um</c><00:27:55.039><c> that</c><00:27:55.200><c> really</c>

27:55

with your local Banker um that really with your local Banker um that really help<00:27:55.720><c> you</c><00:27:56.000><c> build</c><00:27:56.600><c> assets</c><00:27:57.000><c> and</c><00:27:57.200><c> get</c><00:27:57.360><c> you</c><00:27:57.519><c> on</c>

27:57

help you build assets and get you on help you build assets and get you on that<00:27:57.840><c> path</c><00:27:58.279><c> upward</c><00:27:58.640><c> Mobility</c><00:27:59.240><c> so</c><00:27:59.760><c> we're</c>

27:59

that path upward Mobility so we're that path upward Mobility so we're really<00:28:00.559><c> uh</c><00:28:00.679><c> proud</c><00:28:00.919><c> of</c><00:28:01.039><c> the</c><00:28:01.120><c> work</c><00:28:01.279><c> we're</c><00:28:01.440><c> doing</c> really uh proud of the work we're doing really uh proud of the work we're doing in<00:28:01.720><c> our</c><00:28:01.880><c> communities</c><00:28:02.720><c> we've</c><00:28:02.919><c> got</c><00:28:03.120><c> 56</c><00:28:03.679><c> branches</c>

28:04

in our communities we've got 56 branches in our communities we've got 56 branches in<00:28:04.200><c> Arkansas</c><00:28:04.720><c> and</c><00:28:04.840><c> Mississippi</c><00:28:05.760><c> over</c><00:28:06.159><c> 65,000</c>

28:06

in Arkansas and Mississippi over 65,000 in Arkansas and Mississippi over 65,000 deposit<00:28:07.279><c> customers</c><00:28:07.799><c> but</c><00:28:08.440><c> uh</c><00:28:08.640><c> really</c><00:28:08.880><c> proud</c><00:28:09.120><c> to</c>

28:09

deposit customers but uh really proud to deposit customers but uh really proud to be<00:28:09.480><c> here</c><00:28:09.760><c> and</c><00:28:09.880><c> be</c><00:28:09.960><c> a</c><00:28:10.039><c> part</c><00:28:10.159><c> of</c><00:28:10.240><c> this</c> be here and be a part of this be here and be a part of this conversation<00:28:10.760><c> because</c><00:28:11.000><c> this</c><00:28:11.080><c> is</c><00:28:11.200><c> something</c>

28:11

conversation because this is something conversation because this is something that<00:28:11.519><c> we're</c><00:28:11.679><c> fighting</c><00:28:12.440><c> with</c><00:28:12.840><c> uh</c><00:28:13.000><c> day</c><00:28:13.120><c> in</c><00:28:13.279><c> and</c>

28:13

that we're fighting with uh day in and that we're fighting with uh day in and day day day out<00:28:15.360><c> thanks</c><00:28:15.679><c> Miguel</c><00:28:16.679><c> I</c><00:28:16.960><c> want</c><00:28:17.120><c> to</c><00:28:17.240><c> know</c><00:28:17.440><c> a</c>

28:17

out thanks Miguel I want to know a out thanks Miguel I want to know a little<00:28:17.679><c> bit</c><00:28:17.880><c> more</c><00:28:18.159><c> about</c><00:28:18.440><c> who's</c><00:28:18.720><c> using</c><00:28:19.120><c> Bank</c> little bit more about who's using Bank little bit more about who's using Bank branches<00:28:20.000><c> and</c><00:28:20.120><c> so</c><00:28:20.320><c> we</c><00:28:20.519><c> heard</c><00:28:21.399><c> uh</c><00:28:21.559><c> a</c><00:28:21.640><c> little</c><00:28:21.840><c> bit</c>

28:21

branches and so we heard uh a little bit branches and so we heard uh a little bit from<00:28:22.240><c> Elena</c><00:28:22.600><c> and</c><00:28:22.760><c> Caleb</c><00:28:23.200><c> but</c><00:28:23.519><c> can</c><00:28:23.640><c> you</c><00:28:23.760><c> all</c>

28:23

from Elena and Caleb but can you all from Elena and Caleb but can you all tell<00:28:24.200><c> me</c><00:28:24.799><c> who</c><00:28:25.080><c> who's</c><00:28:25.279><c> the</c><00:28:25.440><c> typical</c><00:28:25.799><c> consumer</c>

28:26

tell me who who's the typical consumer tell me who who's the typical consumer who<00:28:26.360><c> comes</c><00:28:26.559><c> into</c><00:28:26.840><c> your</c><00:28:27.039><c> branches</c>

28:34

how about you Miguel yeah I'll go first how about you Miguel yeah I'll go first you<00:28:34.240><c> know</c><00:28:34.679><c> it</c><00:28:35.120><c> for</c><00:28:35.360><c> us</c><00:28:35.559><c> it's</c><00:28:35.760><c> really</c><00:28:36.240><c> you</c><00:28:36.320><c> know</c>

28:36

you know it for us it's really you know you know it for us it's really you know like<00:28:36.720><c> I</c><00:28:36.840><c> said</c><00:28:37.200><c> in</c><00:28:37.279><c> some</c><00:28:37.480><c> communities</c><00:28:37.840><c> we're</c> like I said in some communities we're like I said in some communities we're the<00:28:38.080><c> only</c><00:28:38.240><c> Bank</c><00:28:38.480><c> in</c><00:28:38.640><c> town</c><00:28:38.960><c> so</c><00:28:39.159><c> we</c><00:28:39.279><c> see</c><00:28:40.039><c> you</c><00:28:40.200><c> know</c>

28:40

the only Bank in town so we see you know the only Bank in town so we see you know the<00:28:40.919><c> the</c><00:28:41.080><c> pharmacist</c><00:28:41.720><c> the</c><00:28:41.880><c> doctor</c><00:28:42.279><c> the</c> the the pharmacist the doctor the the the pharmacist the doctor the affluent<00:28:42.960><c> folks</c><00:28:43.240><c> in</c><00:28:43.399><c> town</c><00:28:44.120><c> and</c><00:28:44.240><c> then</c><00:28:44.360><c> we</c><00:28:44.519><c> also</c>

28:44

affluent folks in town and then we also affluent folks in town and then we also see<00:28:45.080><c> the</c><00:28:45.200><c> single</c><00:28:45.480><c> mom</c><00:28:45.720><c> with</c><00:28:45.880><c> four</c><00:28:46.120><c> kids</c> see the single mom with four kids see the single mom with four kids walking<00:28:46.679><c> in</c><00:28:46.919><c> I</c><00:28:47.000><c> think</c><00:28:47.159><c> that's</c><00:28:47.399><c> why</c><00:28:47.519><c> it's</c><00:28:47.679><c> so</c>

28:47

walking in I think that's why it's so walking in I think that's why it's so important<00:28:48.799><c> that</c><00:28:48.919><c> we</c><00:28:49.039><c> stay</c><00:28:49.279><c> in</c><00:28:49.399><c> those</c> important that we stay in those important that we stay in those communities<00:28:50.080><c> because</c><00:28:50.360><c> we</c><00:28:50.600><c> really</c><00:28:50.840><c> are</c>

28:51

communities because we really are communities because we really are serving<00:28:52.360><c> everyone</c><00:28:52.679><c> in</c><00:28:52.840><c> those</c><00:28:53.399><c> communities</c><00:28:54.399><c> um</c>

28:54

serving everyone in those communities um serving everyone in those communities um so<00:28:54.720><c> that's</c><00:28:54.840><c> who</c><00:28:55.039><c> we</c><00:28:55.200><c> see</c><00:28:55.840><c> as</c><00:28:56.000><c> we</c><00:28:56.159><c> go</c><00:28:56.360><c> into</c><00:28:56.679><c> L</c>

28:57

so that's who we see as we go into L so that's who we see as we go into L Rock<00:28:57.279><c> and</c><00:28:57.440><c> major</c><00:28:57.720><c> Urban</c><00:28:58.120><c> markets</c><00:28:58.519><c> we've</c> Rock and major Urban markets we've Rock and major Urban markets we've realized<00:28:59.200><c> that</c><00:28:59.399><c> just</c><00:28:59.559><c> because</c><00:28:59.760><c> there's</c><00:28:59.960><c> a</c><00:29:00.600><c> a</c>

29:00

realized that just because there's a a realized that just because there's a a plethora<00:29:01.240><c> of</c><00:29:01.399><c> banks</c><00:29:01.640><c> in</c><00:29:01.799><c> those</c><00:29:02.000><c> communities</c>

29:02

plethora of banks in those communities plethora of banks in those communities that<00:29:03.000><c> doesn't</c><00:29:03.240><c> mean</c><00:29:03.399><c> that</c><00:29:03.519><c> there</c><00:29:03.640><c> aren't</c> that doesn't mean that there aren't that doesn't mean that there aren't quarters<00:29:04.399><c> or</c><00:29:04.679><c> pockets</c><00:29:05.000><c> of</c><00:29:05.200><c> the</c><00:29:05.360><c> city</c><00:29:06.279><c> that</c><00:29:06.519><c> is</c>

29:06

quarters or pockets of the city that is quarters or pockets of the city that is unbanked<00:29:07.720><c> and</c><00:29:07.919><c> that's</c><00:29:08.080><c> where</c><00:29:08.279><c> we're</c><00:29:08.559><c> wanting</c>

29:08

unbanked and that's where we're wanting unbanked and that's where we're wanting to<00:29:09.000><c> go</c><00:29:09.159><c> in</c><00:29:09.320><c> those</c><00:29:09.480><c> Niche</c><00:29:09.840><c> markets</c><00:29:10.679><c> uh</c><00:29:10.880><c> like</c><00:29:11.039><c> a</c>

29:11

to go in those Niche markets uh like a to go in those Niche markets uh like a lck<00:29:12.080><c> maybe</c><00:29:12.360><c> other</c><00:29:12.600><c> larger</c><00:29:12.960><c> cities</c><00:29:13.279><c> in</c><00:29:13.399><c> the</c>

29:13

lck maybe other larger cities in the lck maybe other larger cities in the future<00:29:14.279><c> because</c><00:29:14.480><c> we</c><00:29:14.600><c> realize</c><00:29:14.960><c> that</c><00:29:15.120><c> just</c> future because we realize that just future because we realize that just because<00:29:15.480><c> there's</c><00:29:15.640><c> a</c><00:29:15.760><c> bank</c><00:29:15.960><c> in</c><00:29:16.159><c> town</c><00:29:16.480><c> if</c><00:29:16.559><c> you</c>

29:16

because there's a bank in town if you because there's a bank in town if you don't<00:29:16.880><c> have</c><00:29:17.039><c> those</c><00:29:17.279><c> intentional</c><00:29:17.799><c> Bankers</c> don't have those intentional Bankers don't have those intentional Bankers that<00:29:18.559><c> have</c><00:29:19.279><c> responsive</c><00:29:20.279><c> and</c><00:29:20.480><c> reactive</c><00:29:21.440><c> uh</c>

29:22

that have responsive and reactive uh that have responsive and reactive uh reactive<00:29:22.919><c> uh</c><00:29:23.039><c> credit</c><00:29:23.760><c> products</c><00:29:24.120><c> for</c><00:29:24.279><c> the</c>

29:24

reactive uh credit products for the reactive uh credit products for the community<00:29:25.120><c> it's</c><00:29:25.240><c> going</c><00:29:25.360><c> to</c><00:29:25.440><c> be</c><00:29:25.600><c> really</c><00:29:25.799><c> tough</c> community it's going to be really tough community it's going to be really tough to<00:29:26.120><c> bank</c><00:29:26.440><c> them</c>

29:33

is that similar for you Mike yeah I mean is that similar for you Mike yeah I mean I<00:29:33.720><c> agree</c><00:29:34.000><c> with</c><00:29:34.279><c> Miguel</c><00:29:35.279><c> we</c><00:29:35.399><c> still</c><00:29:35.559><c> see</c><00:29:35.799><c> a</c>

29:36

I agree with Miguel we still see a I agree with Miguel we still see a cross-section<00:29:36.840><c> of</c><00:29:37.600><c> our</c><00:29:38.200><c> population</c><00:29:38.840><c> coming</c>

29:39

cross-section of our population coming cross-section of our population coming into<00:29:39.279><c> the</c><00:29:39.399><c> branches</c><00:29:40.320><c> we'll</c><00:29:40.640><c> we</c><00:29:40.760><c> still</c><00:29:41.000><c> see</c><00:29:41.480><c> the</c>

29:42

into the branches we'll we still see the into the branches we'll we still see the U<00:29:42.399><c> maybe</c><00:29:42.679><c> a</c><00:29:42.919><c> senior</c><00:29:43.279><c> citizen</c><00:29:43.720><c> that's</c><00:29:43.919><c> coming</c> U maybe a senior citizen that's coming U maybe a senior citizen that's coming in<00:29:44.399><c> once</c><00:29:44.559><c> a</c><00:29:44.720><c> month</c><00:29:44.919><c> to</c><00:29:45.320><c> withdraw</c><00:29:45.760><c> from</c><00:29:45.919><c> their</c>

29:46

in once a month to withdraw from their in once a month to withdraw from their social<00:29:46.360><c> security</c><00:29:47.000><c> uh</c><00:29:47.159><c> direct</c><00:29:47.679><c> deposit</c><00:29:48.679><c> um</c><00:29:48.799><c> we</c>

29:48

social security uh direct deposit um we social security uh direct deposit um we might<00:29:49.159><c> see</c><00:29:49.679><c> small</c><00:29:50.000><c> business</c><00:29:50.240><c> owners</c><00:29:50.600><c> have</c> might see small business owners have might see small business owners have cash<00:29:51.080><c> needs</c><00:29:51.440><c> so</c><00:29:51.600><c> we'll</c><00:29:51.760><c> see</c><00:29:52.000><c> them</c><00:29:52.240><c> on</c><00:29:52.360><c> a</c><00:29:52.480><c> weekly</c>

29:52

cash needs so we'll see them on a weekly cash needs so we'll see them on a weekly maybe<00:29:53.000><c> even</c><00:29:53.200><c> a</c><00:29:53.360><c> daily</c><00:29:53.960><c> basis</c><00:29:54.960><c> um</c><00:29:55.120><c> we</c><00:29:55.279><c> know</c><00:29:55.640><c> that</c>

29:56

maybe even a daily basis um we know that maybe even a daily basis um we know that a<00:29:56.440><c> majority</c><00:29:57.200><c> of</c><00:29:57.720><c> the</c><00:29:58.279><c> I</c><00:29:58.360><c> would</c><00:29:58.480><c> say</c><00:29:58.640><c> the</c><00:29:58.760><c> more</c>

29:59

a majority of the I would say the more a majority of the I would say the more majority<00:29:59.720><c> of</c><00:29:59.799><c> the</c><00:29:59.880><c> branch</c><00:30:00.279><c> visitors</c><00:30:00.919><c> on</c><00:30:01.039><c> a</c> majority of the branch visitors on a majority of the branch visitors on a weekly<00:30:01.519><c> basis</c><00:30:01.799><c> who</c><00:30:01.960><c> are</c><00:30:02.159><c> regular</c><00:30:02.600><c> so</c><00:30:02.760><c> to</c><00:30:02.960><c> speak</c>

30:03

weekly basis who are regular so to speak weekly basis who are regular so to speak maybe<00:30:03.760><c> are</c><00:30:03.960><c> more</c><00:30:04.200><c> elderly</c><00:30:04.799><c> because</c><00:30:05.320><c> they're</c>

30:05

maybe are more elderly because they're maybe are more elderly because they're uh<00:30:06.399><c> more</c><00:30:06.960><c> not</c><00:30:07.120><c> it's</c><00:30:07.440><c> elderly</c><00:30:07.799><c> but</c><00:30:07.919><c> an</c><00:30:08.000><c> older</c>

30:08

uh more not it's elderly but an older uh more not it's elderly but an older demographic<00:30:09.000><c> because</c><00:30:09.840><c> uh</c><00:30:10.399><c> they've</c><00:30:10.640><c> built</c>

30:10

demographic because uh they've built demographic because uh they've built those<00:30:11.200><c> connections</c><00:30:11.840><c> and</c><00:30:12.080><c> and</c><00:30:12.240><c> that's</c><00:30:12.840><c> uh</c><00:30:13.760><c> and</c>

30:13

those connections and and that's uh and those connections and and that's uh and maybe<00:30:14.120><c> they're</c><00:30:14.360><c> less</c><00:30:15.360><c> um</c><00:30:15.640><c> exposed</c><00:30:16.200><c> to</c><00:30:16.559><c> the</c>

30:16

maybe they're less um exposed to the maybe they're less um exposed to the alternative<00:30:17.279><c> delivery</c><00:30:17.679><c> channels</c><00:30:18.039><c> or</c><00:30:18.240><c> digital</c> alternative delivery channels or digital alternative delivery channels or digital banking<00:30:19.559><c> however</c><00:30:20.240><c> we</c><00:30:20.399><c> still</c><00:30:20.919><c> I</c><00:30:21.360><c> I'm</c><00:30:21.519><c> great</c><00:30:21.679><c> to</c>

30:21

banking however we still I I'm great to banking however we still I I'm great to see<00:30:22.240><c> Caleb's</c><00:30:22.799><c> research</c><00:30:23.480><c> because</c><00:30:24.200><c> we</c><00:30:24.399><c> still</c>

30:24

see Caleb's research because we still see Caleb's research because we still see<00:30:24.880><c> younger</c><00:30:25.240><c> demographics</c><00:30:26.000><c> more</c><00:30:26.159><c> than</c><00:30:26.360><c> 50%</c>

30:26

see younger demographics more than 50% see younger demographics more than 50% of<00:30:27.000><c> our</c><00:30:27.159><c> new</c><00:30:27.360><c> accounts</c><00:30:27.679><c> open</c><00:30:28.080><c> every</c><00:30:28.240><c> year</c><00:30:28.360><c> are</c> of our new accounts open every year are of our new accounts open every year are opened<00:30:28.760><c> by</c><00:30:28.919><c> people</c><00:30:29.120><c> that</c><00:30:29.200><c> are</c><00:30:29.360><c> 44</c><00:30:29.840><c> years</c><00:30:30.360><c> or</c>

30:30

opened by people that are 44 years or opened by people that are 44 years or less<00:30:31.279><c> so</c><00:30:31.480><c> they're</c><00:30:31.640><c> still</c><00:30:31.880><c> coming</c><00:30:32.120><c> in</c><00:30:32.240><c> to</c><00:30:32.440><c> open</c>

30:32

less so they're still coming in to open less so they're still coming in to open the<00:30:32.919><c> accounts</c><00:30:33.480><c> they</c><00:30:33.640><c> need</c><00:30:33.840><c> that</c><00:30:34.039><c> Personal</c> the accounts they need that Personal the accounts they need that Personal Touch<00:30:34.840><c> that</c><00:30:35.039><c> personal</c><00:30:35.440><c> connection</c><00:30:36.240><c> but</c><00:30:36.399><c> we</c>

30:36

Touch that personal connection but we Touch that personal connection but we might<00:30:37.080><c> not</c><00:30:37.240><c> see</c><00:30:37.440><c> them</c><00:30:37.600><c> as</c><00:30:37.760><c> frequently</c><00:30:38.200><c> we</c> might not see them as frequently we might not see them as frequently we might<00:30:38.480><c> see</c><00:30:38.679><c> them</c><00:30:38.840><c> maybe</c><00:30:39.080><c> a</c><00:30:39.159><c> couple</c><00:30:39.480><c> times</c><00:30:39.679><c> a</c>

30:39

might see them maybe a couple times a might see them maybe a couple times a year<00:30:40.039><c> once</c><00:30:40.240><c> they</c><00:30:40.399><c> open</c><00:30:40.679><c> their</c><00:30:40.919><c> accounts</c><00:30:41.679><c> same</c>

30:41

year once they open their accounts same year once they open their accounts same with<00:30:42.039><c> like</c><00:30:42.120><c> a</c><00:30:42.240><c> mortgage</c><00:30:42.559><c> customer</c><00:30:43.000><c> that</c> with like a mortgage customer that with like a mortgage customer that that's<00:30:43.279><c> a</c><00:30:43.480><c> transaction</c><00:30:44.399><c> where</c><00:30:45.399><c> we</c><00:30:45.519><c> help</c>

30:45

that's a transaction where we help that's a transaction where we help people<00:30:46.000><c> with</c><00:30:46.159><c> life</c><00:30:46.399><c> events</c><00:30:46.880><c> right</c><00:30:47.039><c> so</c><00:30:47.240><c> people</c> people with life events right so people people with life events right so people having<00:30:47.799><c> their</c><00:30:48.000><c> first</c><00:30:48.279><c> baby</c><00:30:48.919><c> buying</c><00:30:49.279><c> their</c>

30:49

having their first baby buying their having their first baby buying their first<00:30:49.760><c> home</c><00:30:50.360><c> marriage</c><00:30:51.240><c> divorce</c><00:30:52.240><c> uh</c><00:30:52.360><c> the</c><00:30:52.480><c> loss</c>

30:52

first home marriage divorce uh the loss first home marriage divorce uh the loss of<00:30:52.799><c> a</c><00:30:52.960><c> loved</c><00:30:53.240><c> one</c><00:30:53.919><c> like</c><00:30:54.200><c> those</c><00:30:54.360><c> are</c><00:30:55.080><c> where</c><00:30:55.720><c> they</c>

30:55

of a loved one like those are where they of a loved one like those are where they need<00:30:56.120><c> that</c><00:30:56.320><c> trusted</c><00:30:56.720><c> advisor</c><00:30:57.240><c> that</c><00:30:57.399><c> Banker</c>

30:58

need that trusted advisor that Banker need that trusted advisor that Banker need<00:30:58.200><c> the</c><00:30:58.399><c> place</c><00:30:58.600><c> that</c><00:30:58.760><c> they</c><00:30:58.880><c> have</c><00:30:59.039><c> that</c> need the place that they have that need the place that they have that personal<00:30:59.840><c> connection</c><00:31:00.840><c> and</c><00:31:01.480><c> like</c><00:31:01.639><c> we</c><00:31:01.760><c> saw</c><00:31:02.000><c> with</c>

31:02

personal connection and like we saw with personal connection and like we saw with Co<00:31:02.639><c> like</c><00:31:02.919><c> it</c><00:31:03.440><c> as</c><00:31:03.639><c> humans</c><00:31:04.039><c> we</c><00:31:04.159><c> need</c><00:31:04.440><c> that</c>

31:04

Co like it as humans we need that Co like it as humans we need that personal<00:31:05.039><c> connection</c><00:31:05.440><c> when</c><00:31:05.600><c> we</c><00:31:05.679><c> were</c> personal connection when we were personal connection when we were isolated<00:31:06.399><c> for</c><00:31:06.600><c> those</c><00:31:06.799><c> months</c><00:31:07.399><c> you</c><00:31:07.559><c> get</c><00:31:07.679><c> there</c>

31:07

isolated for those months you get there isolated for those months you get there was<00:31:07.919><c> so</c><00:31:08.080><c> much</c><00:31:08.279><c> research</c><00:31:08.679><c> done</c><00:31:08.880><c> so</c><00:31:09.279><c> we</c><00:31:09.440><c> need</c>

31:09

was so much research done so we need was so much research done so we need that<00:31:10.200><c> human</c><00:31:10.559><c> touch</c><00:31:11.440><c> and</c><00:31:11.600><c> so</c><00:31:12.080><c> that</c><00:31:12.320><c> that's</c><00:31:12.519><c> the</c>

31:12

that human touch and so that that's the that human touch and so that that's the same<00:31:12.880><c> with</c><00:31:13.080><c> banking</c><00:31:13.519><c> I</c><00:31:13.639><c> just</c><00:31:13.760><c> think</c><00:31:14.080><c> there's</c> same with banking I just think there's same with banking I just think there's certain<00:31:14.840><c> demographics</c><00:31:15.480><c> or</c><00:31:15.760><c> certain</c><00:31:16.080><c> Trends</c>

31:16

certain demographics or certain Trends certain demographics or certain Trends where<00:31:16.880><c> certain</c><00:31:17.200><c> people</c><00:31:17.480><c> use</c><00:31:18.080><c> branches</c><00:31:18.679><c> less</c>

31:19

where certain people use branches less where certain people use branches less than<00:31:19.720><c> others</c><00:31:20.360><c> but</c><00:31:20.559><c> still</c><00:31:20.840><c> there's</c><00:31:21.080><c> there</c><00:31:21.200><c> is</c><00:31:21.320><c> a</c>

31:21

than others but still there's there is a than others but still there's there is a need<00:31:21.639><c> for</c><00:31:21.799><c> the</c> need for the need for the branches<00:31:23.679><c> I</c><00:31:23.840><c> appreciate</c><00:31:24.360><c> what</c><00:31:24.480><c> you</c><00:31:25.080><c> what</c>

31:25

branches I appreciate what you what branches I appreciate what you what you're<00:31:25.320><c> saying</c><00:31:25.559><c> and</c><00:31:25.720><c> bringing</c><00:31:26.000><c> in</c><00:31:26.240><c> that</c><00:31:26.440><c> point</c> you're saying and bringing in that point you're saying and bringing in that point about<00:31:27.000><c> Connections</c><00:31:27.639><c> how</c><00:31:28.120><c> branches</c><00:31:28.519><c> are</c>

31:28

about Connections how branches are about Connections how branches are connecting<00:31:29.240><c> the</c><00:31:29.399><c> consumers</c><00:31:29.880><c> to</c><00:31:30.080><c> you</c><00:31:30.279><c> all</c><00:31:30.559><c> but</c>

31:30

connecting the consumers to you all but connecting the consumers to you all but also<00:31:31.480><c> it's</c><00:31:31.720><c> just</c><00:31:31.880><c> that</c><00:31:32.200><c> personal</c><00:31:32.720><c> connection</c>

31:33

also it's just that personal connection also it's just that personal connection that's<00:31:33.480><c> important</c><00:31:33.960><c> in</c><00:31:34.120><c> it</c><00:31:34.679><c> Wes</c><00:31:34.960><c> did</c><00:31:35.120><c> you</c><00:31:35.279><c> have</c>

31:35

that's important in it Wes did you have that's important in it Wes did you have any<00:31:35.639><c> other</c><00:31:36.279><c> thoughts</c><00:31:37.279><c> yeah</c><00:31:37.440><c> just</c><00:31:37.600><c> a</c><00:31:37.840><c> brief</c>

31:38

any other thoughts yeah just a brief any other thoughts yeah just a brief add-on<00:31:39.120><c> here</c><00:31:39.559><c> I</c><00:31:39.760><c> I</c><00:31:39.840><c> think</c><00:31:40.080><c> Miguel</c><00:31:40.720><c> and</c><00:31:40.840><c> Mike</c>

31:41

add-on here I I think Miguel and Mike add-on here I I think Miguel and Mike said<00:31:41.240><c> it</c><00:31:41.399><c> well</c><00:31:41.799><c> but</c><00:31:42.120><c> uh</c><00:31:42.240><c> I</c><00:31:42.320><c> would</c><00:31:42.480><c> summarize</c><00:31:42.919><c> it</c>

31:43

said it well but uh I would summarize it said it well but uh I would summarize it with<00:31:43.240><c> any</c><00:31:43.440><c> demographic</c><00:31:44.159><c> that</c><00:31:44.320><c> really</c><00:31:44.519><c> has</c> with any demographic that really has with any demographic that really has barriers<00:31:45.399><c> to</c><00:31:45.679><c> accessing</c><00:31:46.159><c> Financial</c><00:31:46.639><c> Services</c>

31:47

barriers to accessing Financial Services barriers to accessing Financial Services or<00:31:47.840><c> who</c><00:31:48.000><c> we're</c><00:31:48.159><c> seeing</c><00:31:48.840><c> uh</c><00:31:48.919><c> you</c><00:31:49.039><c> know</c><00:31:49.200><c> we</c><00:31:49.480><c> have</c>

31:50

or who we're seeing uh you know we have or who we're seeing uh you know we have uh<00:31:50.360><c> you</c><00:31:50.480><c> know</c><00:31:50.600><c> St</c><00:31:50.799><c> Louis</c><00:31:51.039><c> is</c><00:31:51.200><c> blessed</c><00:31:51.639><c> with</c><00:31:52.120><c> uh</c>

31:52

uh you know St Louis is blessed with uh uh you know St Louis is blessed with uh you<00:31:52.320><c> know</c><00:31:52.440><c> an</c><00:31:52.600><c> influx</c><00:31:53.039><c> of</c><00:31:53.279><c> Bosnian</c><00:31:53.919><c> residents</c>

31:54

you know an influx of Bosnian residents you know an influx of Bosnian residents about<00:31:54.880><c> 30</c><00:31:55.200><c> years</c><00:31:55.440><c> ago</c><00:31:55.799><c> with</c><00:31:55.919><c> the</c><00:31:56.000><c> war</c><00:31:56.240><c> torn</c> about 30 years ago with the war torn about 30 years ago with the war torn communities<00:31:57.200><c> and</c><00:31:57.919><c> you</c><00:31:57.960><c> know</c><00:31:58.080><c> they</c><00:31:58.200><c> didn't</c>

31:58

communities and you know they didn't communities and you know they didn't understand<00:31:59.080><c> the</c><00:31:59.200><c> banking</c><00:31:59.600><c> Community</c><00:32:00.159><c> here</c><00:32:00.440><c> in</c> understand the banking Community here in understand the banking Community here in St<00:32:00.960><c> Louis</c><00:32:01.679><c> um</c><00:32:01.960><c> and</c><00:32:02.120><c> we</c><00:32:02.240><c> had</c><00:32:02.480><c> very</c><00:32:03.200><c> Progressive</c>

32:03

St Louis um and we had very Progressive St Louis um and we had very Progressive leadership<00:32:04.320><c> at</c><00:32:04.440><c> that</c><00:32:04.679><c> time</c><00:32:05.039><c> that</c><00:32:05.919><c> we</c><00:32:06.120><c> we</c>

32:06

leadership at that time that we we leadership at that time that we we staffed<00:32:06.919><c> accordingly</c><00:32:07.519><c> with</c><00:32:07.720><c> bilingual</c>

32:08

staffed accordingly with bilingual staffed accordingly with bilingual Bosnian<00:32:09.039><c> speaking</c><00:32:09.799><c> employees</c><00:32:10.799><c> and</c><00:32:11.399><c> uh</c><00:32:11.519><c> and</c>

32:11

Bosnian speaking employees and uh and Bosnian speaking employees and uh and served<00:32:12.200><c> that</c><00:32:12.559><c> served</c><00:32:13.000><c> that</c><00:32:13.240><c> Community</c><00:32:13.679><c> very</c>

32:14

served that served that Community very served that served that Community very well<00:32:14.559><c> you</c><00:32:14.760><c> you</c><00:32:14.840><c> can</c><00:32:15.000><c> replicate</c><00:32:15.559><c> that</c><00:32:15.720><c> with</c><00:32:15.840><c> the</c> well you you can replicate that with the well you you can replicate that with the Hispanic<00:32:16.440><c> Community</c><00:32:16.840><c> the</c><00:32:17.000><c> Asian</c><00:32:17.360><c> Focus</c><00:32:17.840><c> you</c>

32:17

Hispanic Community the Asian Focus you Hispanic Community the Asian Focus you know<00:32:18.080><c> time</c><00:32:18.240><c> and</c><00:32:18.399><c> time</c><00:32:18.639><c> again</c><00:32:19.200><c> there</c><00:32:19.320><c> are</c> know time and time again there are know time and time again there are barriers<00:32:20.120><c> that</c><00:32:20.360><c> exist</c><00:32:21.200><c> not</c><00:32:21.480><c> just</c><00:32:21.720><c> with</c>

32:22

barriers that exist not just with barriers that exist not just with technology<00:32:23.399><c> uh</c><00:32:24.000><c> technology</c><00:32:24.639><c> issues</c><00:32:25.000><c> or</c>

32:25

technology uh technology issues or technology uh technology issues or proximity<00:32:25.760><c> to</c><00:32:25.919><c> a</c><00:32:26.039><c> bank</c><00:32:26.320><c> location</c><00:32:27.000><c> but</c><00:32:27.480><c> very</c>

32:28

proximity to a bank location but very proximity to a bank location but very that<00:32:28.279><c> are</c><00:32:28.960><c> that</c><00:32:29.039><c> are</c><00:32:29.200><c> at</c><00:32:29.360><c> times</c><00:32:29.639><c> situational</c>

32:30

that are that are at times situational that are that are at times situational and<00:32:31.159><c> what</c><00:32:31.279><c> we</c><00:32:31.399><c> have</c><00:32:31.559><c> found</c><00:32:32.039><c> that</c><00:32:32.720><c> uh</c><00:32:32.799><c> you</c>

32:33

and what we have found that uh you and what we have found that uh you Staffing<00:32:33.519><c> accordingly</c><00:32:34.120><c> with</c><00:32:34.480><c> bilingual</c>

32:35

Staffing accordingly with bilingual Staffing accordingly with bilingual employees<00:32:36.600><c> um</c><00:32:36.880><c> you</c><00:32:36.960><c> know</c><00:32:37.120><c> that</c><00:32:37.279><c> that's</c> employees um you know that that's employees um you know that that's created<00:32:38.399><c> generational</c><00:32:39.200><c> loyalty</c><00:32:39.720><c> now</c><00:32:39.919><c> in</c>

32:40

created generational loyalty now in created generational loyalty now in second<00:32:40.480><c> generation</c><00:32:40.960><c> of</c><00:32:41.120><c> the</c><00:32:41.240><c> bosan</c><00:32:41.760><c> refugees</c>

32:42

second generation of the bosan refugees second generation of the bosan refugees that<00:32:42.360><c> are</c><00:32:42.480><c> immigrants</c><00:32:42.919><c> to</c><00:32:43.080><c> our</c><00:32:43.240><c> communities</c> that are immigrants to our communities that are immigrants to our communities you<00:32:44.120><c> know</c><00:32:44.279><c> they're</c><00:32:44.480><c> coming</c><00:32:44.720><c> in</c><00:32:45.080><c> they're</c>

32:45

you know they're coming in they're you know they're coming in they're coming<00:32:45.480><c> in</c><00:32:45.639><c> Daily</c><00:32:46.000><c> they're</c><00:32:46.399><c> appreciative</c><00:32:47.399><c> uh</c>

32:47

coming in Daily they're appreciative uh coming in Daily they're appreciative uh that<00:32:47.600><c> we</c><00:32:47.720><c> were</c><00:32:47.880><c> there</c><00:32:48.039><c> to</c><00:32:48.200><c> serve</c><00:32:48.480><c> them</c><00:32:48.639><c> 30</c> that we were there to serve them 30 that we were there to serve them 30 years<00:32:49.120><c> ago</c><00:32:49.399><c> and</c><00:32:49.559><c> still</c><00:32:49.760><c> are</c><00:32:50.080><c> today</c><00:32:50.679><c> so</c><00:32:51.440><c> um</c><00:32:51.679><c> yeah</c>

32:51

years ago and still are today so um yeah years ago and still are today so um yeah just<00:32:52.000><c> in</c><00:32:52.120><c> summary</c><00:32:52.679><c> I</c><00:32:52.760><c> think</c><00:32:52.919><c> anyone</c><00:32:53.240><c> that</c><00:32:53.360><c> does</c> just in summary I think anyone that does just in summary I think anyone that does have<00:32:53.679><c> a</c><00:32:53.799><c> barrier</c><00:32:54.200><c> in</c><00:32:54.320><c> some</c><00:32:54.519><c> form</c><00:32:54.760><c> or</c><00:32:55.039><c> fashion</c>

32:55

have a barrier in some form or fashion have a barrier in some form or fashion are<00:32:55.880><c> those</c><00:32:56.080><c> that</c><00:32:56.159><c> we're</c><00:32:56.320><c> seeing</c><00:32:56.880><c> every</c><00:32:57.159><c> day</c>

32:58

are those that we're seeing every day are those that we're seeing every day Caleb<00:32:59.360><c> I</c><00:32:59.399><c> want</c><00:32:59.519><c> to</c><00:32:59.639><c> bring</c><00:32:59.799><c> you</c><00:32:59.960><c> into</c><00:33:00.200><c> the</c> Caleb I want to bring you into the Caleb I want to bring you into the conversation<00:33:01.720><c> and</c><00:33:02.080><c> just</c><00:33:02.279><c> kind</c><00:33:02.399><c> of</c><00:33:02.559><c> hear</c><00:33:02.799><c> a</c>

33:02

conversation and just kind of hear a conversation and just kind of hear a little<00:33:03.080><c> bit</c><00:33:03.240><c> about</c><00:33:03.480><c> your</c><00:33:04.000><c> perspective</c><00:33:05.000><c> as</c><00:33:05.120><c> an</c>

33:05

little bit about your perspective as an little bit about your perspective as an examiner<00:33:06.080><c> how</c><00:33:06.200><c> does</c><00:33:06.360><c> A</c><00:33:06.600><c> bank's</c><00:33:07.120><c> Branch</c>

33:07

examiner how does A bank's Branch examiner how does A bank's Branch footprint<00:33:08.399><c> or</c><00:33:08.559><c> their</c><00:33:08.760><c> Branch</c><00:33:09.159><c> distribution</c>

33:09

footprint or their Branch distribution footprint or their Branch distribution fit<00:33:10.240><c> into</c><00:33:10.440><c> a</c><00:33:10.600><c> compliance</c> fit into a compliance fit into a compliance examination<00:33:12.799><c> yeah</c><00:33:13.000><c> certainly</c><00:33:13.600><c> and</c><00:33:13.679><c> it's</c><00:33:13.840><c> a</c>

33:13

examination yeah certainly and it's a examination yeah certainly and it's a great<00:33:14.559><c> question</c><00:33:15.559><c> uh</c><00:33:15.760><c> branches</c><00:33:16.279><c> matter</c><00:33:17.159><c> in</c><00:33:17.320><c> two</c>

33:17

great question uh branches matter in two great question uh branches matter in two primary<00:33:18.080><c> ways</c><00:33:18.320><c> to</c><00:33:18.480><c> A</c><00:33:18.639><c> bank's</c><00:33:19.360><c> sort</c><00:33:19.559><c> of</c>

33:19

primary ways to A bank's sort of primary ways to A bank's sort of compliance<00:33:21.000><c> uh</c><00:33:21.240><c> risk</c><00:33:22.000><c> portfolio</c><00:33:23.000><c> if</c><00:33:23.120><c> you</c><00:33:23.240><c> will</c>

33:23

compliance uh risk portfolio if you will compliance uh risk portfolio if you will the<00:33:23.799><c> first</c><00:33:24.159><c> is</c><00:33:24.320><c> on</c><00:33:24.440><c> the</c><00:33:24.559><c> fair</c><00:33:24.799><c> lending</c><00:33:25.320><c> side</c>

33:25

the first is on the fair lending side the first is on the fair lending side where<00:33:26.240><c> we're</c><00:33:26.480><c> looking</c><00:33:26.760><c> to</c><00:33:26.960><c> ensure</c><00:33:27.320><c> Banks</c><00:33:28.039><c> are</c>

33:28

where we're looking to ensure Banks are where we're looking to ensure Banks are not<00:33:28.519><c> discriminating</c><00:33:29.519><c> against</c><00:33:29.919><c> customers</c>

33:30

not discriminating against customers not discriminating against customers based<00:33:30.639><c> off</c><00:33:30.840><c> protected</c><00:33:31.519><c> protected</c><00:33:31.919><c> classes</c> based off protected protected classes based off protected protected classes articulated<00:33:32.919><c> in</c><00:33:33.080><c> things</c><00:33:33.320><c> like</c><00:33:33.639><c> the</c><00:33:33.760><c> fair</c>

33:34

articulated in things like the fair articulated in things like the fair housing<00:33:34.360><c> act</c><00:33:34.600><c> or</c><00:33:34.720><c> the</c><00:33:34.840><c> Equal</c><00:33:35.080><c> Credit</c> housing act or the Equal Credit housing act or the Equal Credit Opportunity<00:33:36.000><c> Act</c><00:33:36.200><c> and</c><00:33:36.320><c> the</c><00:33:36.440><c> second</c><00:33:37.120><c> is</c><00:33:37.320><c> via</c>

33:37

Opportunity Act and the second is via Opportunity Act and the second is via the<00:33:37.679><c> community</c><00:33:38.080><c> reinvestment</c><00:33:38.760><c> act</c><00:33:39.120><c> in</c><00:33:39.399><c> both</c>

33:40

the community reinvestment act in both the community reinvestment act in both we<00:33:40.559><c> are</c><00:33:40.760><c> looking</c><00:33:41.000><c> at</c><00:33:41.159><c> a</c><00:33:41.320><c> bank</c><00:33:41.600><c> branches</c>

33:42

we are looking at a bank branches we are looking at a bank branches distribution<00:33:43.440><c> um</c><00:33:43.639><c> across</c><00:33:44.039><c> either</c><00:33:44.279><c> low</c>

33:44

distribution um across either low distribution um across either low moderate<00:33:45.039><c> middle</c><00:33:45.320><c> and</c><00:33:45.440><c> upper</c><00:33:45.639><c> income</c><00:33:45.960><c> census</c> moderate middle and upper income census moderate middle and upper income census tracks<00:33:47.120><c> in</c><00:33:47.240><c> the</c><00:33:47.399><c> terms</c><00:33:47.880><c> of</c><00:33:48.120><c> the</c><00:33:48.360><c> community</c>

33:48

tracks in the terms of the community tracks in the terms of the community reinvestment<00:33:49.360><c> act</c><00:33:49.919><c> or</c><00:33:50.440><c> across</c><00:33:50.919><c> majority</c>

33:51

reinvestment act or across majority reinvestment act or across majority minority<00:33:51.880><c> census</c><00:33:52.200><c> tracks</c><00:33:52.480><c> and</c><00:33:52.600><c> non-majority</c> minority census tracks and non-majority minority census tracks and non-majority minority<00:33:53.600><c> census</c><00:33:54.000><c> tracks</c><00:33:54.639><c> on</c><00:33:54.760><c> the</c><00:33:54.880><c> fair</c>

33:55

minority census tracks on the fair minority census tracks on the fair lending<00:33:55.600><c> side</c><00:33:56.200><c> and</c><00:33:56.320><c> our</c><00:33:56.480><c> examiners</c><00:33:56.919><c> are</c>

33:57

lending side and our examiners are lending side and our examiners are trained<00:33:57.440><c> to</c><00:33:57.880><c> of</c><00:33:57.960><c> look</c><00:33:58.080><c> for</c><00:33:58.279><c> disparities</c><00:33:59.080><c> that</c>

33:59

trained to of look for disparities that trained to of look for disparities that cannot<00:33:59.480><c> be</c><00:33:59.639><c> explained</c><00:34:00.120><c> by</c><00:34:00.320><c> business</c><00:34:00.679><c> model</c><00:34:01.039><c> or</c>

34:01

cannot be explained by business model or cannot be explained by business model or other<00:34:01.480><c> things</c><00:34:01.760><c> like</c><00:34:02.000><c> that</c><00:34:02.720><c> we're</c><00:34:02.880><c> also</c> other things like that we're also other things like that we're also looking<00:34:03.320><c> at</c><00:34:03.519><c> the</c><00:34:03.639><c> bank's</c><00:34:03.960><c> record</c><00:34:04.279><c> of</c><00:34:04.480><c> opening</c>

34:04

looking at the bank's record of opening looking at the bank's record of opening and<00:34:04.960><c> closing</c><00:34:05.320><c> branches</c><00:34:05.880><c> in</c><00:34:06.080><c> both</c><00:34:06.320><c> of</c><00:34:06.519><c> those</c> and closing branches in both of those and closing branches in both of those geographies<00:34:07.399><c> to</c><00:34:07.559><c> ensure</c><00:34:08.359><c> that</c><00:34:08.520><c> the</c><00:34:08.639><c> bank</c><00:34:08.919><c> is</c>

34:09

geographies to ensure that the bank is geographies to ensure that the bank is not<00:34:09.480><c> sort</c><00:34:09.679><c> of</c><00:34:10.200><c> pursuing</c><00:34:11.200><c> a</c><00:34:11.480><c> a</c><00:34:11.639><c> branch</c>

34:12

not sort of pursuing a a branch not sort of pursuing a a branch reduction<00:34:12.720><c> strategy</c><00:34:13.359><c> that</c><00:34:13.480><c> is</c><00:34:14.240><c> uh</c>

34:14

reduction strategy that is uh reduction strategy that is uh discouraging<00:34:15.480><c> access</c><00:34:15.760><c> to</c><00:34:15.919><c> Banking</c><00:34:16.240><c> and</c> discouraging access to Banking and discouraging access to Banking and Financial<00:34:16.839><c> Services</c><00:34:17.560><c> for</c><00:34:17.760><c> one</c><00:34:17.879><c> of</c><00:34:18.040><c> those</c>

34:18

Financial Services for one of those Financial Services for one of those communities<00:34:18.720><c> and</c><00:34:18.839><c> then</c><00:34:19.399><c> lastly</c><00:34:20.399><c> uh</c><00:34:20.480><c> our</c>

34:20

communities and then lastly uh our communities and then lastly uh our examiners<00:34:21.040><c> are</c><00:34:21.200><c> trained</c><00:34:21.520><c> to</c><00:34:21.760><c> look</c><00:34:21.919><c> at</c><00:34:22.119><c> the</c> examiners are trained to look at the examiners are trained to look at the availability<00:34:22.919><c> of</c><00:34:23.119><c> products</c><00:34:23.440><c> and</c><00:34:23.639><c> services</c>

34:24

availability of products and services availability of products and services offered<00:34:24.679><c> at</c><00:34:24.839><c> each</c><00:34:25.079><c> branch</c><00:34:25.839><c> across</c><00:34:26.240><c> again</c>

34:26

offered at each branch across again offered at each branch across again either<00:34:26.960><c> low</c><00:34:27.240><c> moderate</c><00:34:27.679><c> middle</c><00:34:27.879><c> and</c><00:34:28.000><c> upper</c> either low moderate middle and upper either low moderate middle and upper income<00:34:28.440><c> census</c><00:34:28.760><c> tracks</c><00:34:29.119><c> or</c><00:34:29.359><c> majority</c>

34:30

income census tracks or majority income census tracks or majority minority<00:34:30.560><c> census</c><00:34:30.879><c> tracks</c><00:34:31.159><c> versus</c><00:34:31.440><c> non</c><00:34:32.119><c> to</c>

34:32

minority census tracks versus non to minority census tracks versus non to ensure<00:34:32.760><c> that</c><00:34:32.960><c> a</c><00:34:33.079><c> bank</c><00:34:33.320><c> is</c><00:34:33.480><c> not</c><00:34:33.760><c> for</c><00:34:33.960><c> instance</c>

34:34

ensure that a bank is not for instance ensure that a bank is not for instance offering<00:34:35.079><c> loan</c><00:34:35.359><c> officers</c><00:34:36.079><c> in</c><00:34:36.440><c> middle</c><00:34:36.879><c> and</c>

34:37

offering loan officers in middle and offering loan officers in middle and upper<00:34:37.280><c> income</c><00:34:37.560><c> census</c><00:34:37.879><c> tracks</c><00:34:38.200><c> but</c><00:34:38.359><c> not</c> upper income census tracks but not upper income census tracks but not offering<00:34:38.879><c> loan</c><00:34:39.159><c> officers</c><00:34:39.839><c> in</c><00:34:40.000><c> low</c><00:34:40.280><c> and</c>

34:40

offering loan officers in low and offering loan officers in low and moderate<00:34:40.800><c> income</c><00:34:41.079><c> census</c><00:34:41.440><c> tracks</c><00:34:42.320><c> that</c><00:34:42.520><c> work</c>

34:42

moderate income census tracks that work moderate income census tracks that work is<00:34:42.960><c> done</c><00:34:43.520><c> diligently</c><00:34:44.240><c> it's</c><00:34:44.440><c> done</c><00:34:44.760><c> with</c><00:34:44.919><c> a</c><00:34:45.000><c> lot</c>

34:45

is done diligently it's done with a lot is done diligently it's done with a lot of<00:34:45.359><c> contacts</c><00:34:45.960><c> through</c><00:34:46.320><c> a</c><00:34:46.440><c> lot</c><00:34:46.599><c> of</c> of contacts through a lot of of contacts through a lot of conversation<00:34:47.399><c> with</c><00:34:47.560><c> the</c><00:34:47.679><c> financial</c>

34:48

conversation with the financial conversation with the financial institution<00:34:49.320><c> but</c><00:34:49.639><c> if</c><00:34:49.760><c> there</c><00:34:49.879><c> are</c><00:34:50.280><c> disparities</c>

34:50

institution but if there are disparities institution but if there are disparities if<00:34:51.040><c> there</c><00:34:51.159><c> are</c><00:34:51.320><c> issues</c><00:34:52.000><c> it</c><00:34:52.200><c> could</c><00:34:52.679><c> hurt</c><00:34:53.119><c> A</c>

34:53

if there are issues it could hurt A if there are issues it could hurt A bank's<00:34:53.879><c> CRA</c><00:34:54.359><c> rating</c><00:34:54.839><c> and</c><00:34:55.040><c> or</c><00:34:55.359><c> Fair</c><00:34:55.639><c> lending</c>

34:56

bank's CRA rating and or Fair lending bank's CRA rating and or Fair lending examination<00:34:57.359><c> so</c><00:34:58.079><c> uh</c><00:34:58.240><c> it's</c><00:34:58.400><c> thought</c><00:34:58.640><c> over</c><00:34:58.880><c> both</c>

34:59

examination so uh it's thought over both examination so uh it's thought over both and<00:34:59.520><c> and</c><00:34:59.640><c> they're</c><00:34:59.800><c> looked</c><00:35:00.000><c> at</c><00:35:00.119><c> from</c><00:35:00.320><c> different</c> and and they're looked at from different and and they're looked at from different perspectives<00:35:01.280><c> but</c><00:35:01.640><c> our</c><00:35:01.839><c> exam</c><00:35:02.240><c> staff</c><00:35:02.640><c> on</c><00:35:02.760><c> the</c>

35:02

perspectives but our exam staff on the perspectives but our exam staff on the compliance<00:35:03.440><c> side</c><00:35:03.599><c> are</c><00:35:03.800><c> really</c><00:35:04.040><c> intentional</c> compliance side are really intentional compliance side are really intentional about<00:35:04.800><c> ensuring</c><00:35:05.680><c> that</c><00:35:06.440><c> uh</c><00:35:06.839><c> these</c><00:35:07.119><c> are</c><00:35:07.520><c> our</c>

35:07

about ensuring that uh these are our about ensuring that uh these are our priorities<00:35:08.160><c> in</c><00:35:08.280><c> our</c><00:35:08.440><c> examinations</c><00:35:09.200><c> and</c> priorities in our examinations and priorities in our examinations and therefore<00:35:09.680><c> we</c><00:35:09.800><c> are</c><00:35:09.960><c> examining</c><00:35:10.320><c> for</c>

35:10

therefore we are examining for therefore we are examining for compliance<00:35:11.640><c> uh</c><00:35:11.760><c> in</c><00:35:11.880><c> according</c><00:35:12.359><c> with</c><00:35:12.760><c> our</c><00:35:12.920><c> exam</c>

35:13

compliance uh in according with our exam compliance uh in according with our exam procedures<00:35:13.880><c> as</c><00:35:14.000><c> well</c><00:35:14.160><c> as</c><00:35:14.320><c> sort</c><00:35:14.520><c> of</c><00:35:15.160><c> the</c><00:35:15.560><c> the</c>

35:15

procedures as well as sort of the the procedures as well as sort of the the letter<00:35:15.920><c> and</c><00:35:16.160><c> spirit</c><00:35:16.680><c> of</c><00:35:17.119><c> uh</c><00:35:17.200><c> the</c><00:35:17.320><c> community</c>

35:17

letter and spirit of uh the community letter and spirit of uh the community reinvestment<00:35:18.240><c> act</c><00:35:18.440><c> in</c><00:35:18.560><c> addition</c><00:35:18.839><c> to</c><00:35:18.960><c> Fair</c> reinvestment act in addition to Fair reinvestment act in addition to Fair lending<00:35:19.480><c> laws</c><00:35:19.760><c> and</c>

35:21

lending laws and lending laws and regulations<00:35:22.240><c> Caleb</c><00:35:22.640><c> thank</c><00:35:22.800><c> you</c><00:35:22.920><c> for</c><00:35:23.119><c> that</c>

35:23

regulations Caleb thank you for that regulations Caleb thank you for that high<00:35:23.520><c> level</c><00:35:23.800><c> overview</c><00:35:24.400><c> and</c><00:35:24.599><c> I</c><00:35:24.720><c> know</c><00:35:24.960><c> that</c><00:35:25.119><c> you</c> high level overview and I know that you high level overview and I know that you could<00:35:25.520><c> go</c><00:35:26.280><c> very</c><00:35:26.560><c> deep</c><00:35:26.920><c> into</c><00:35:27.720><c> all</c><00:35:27.800><c> of</c><00:35:27.920><c> the</c>

35:28

could go very deep into all of the could go very deep into all of the mechanics<00:35:28.520><c> of</c><00:35:28.760><c> this</c><00:35:29.000><c> and</c><00:35:29.119><c> so</c><00:35:29.359><c> I</c><00:35:29.480><c> appreciate</c> mechanics of this and so I appreciate mechanics of this and so I appreciate you<00:35:30.119><c> being</c><00:35:30.320><c> able</c><00:35:30.520><c> to</c><00:35:30.640><c> summarize</c><00:35:31.200><c> that</c><00:35:31.359><c> for</c><00:35:31.599><c> us</c>

35:32

you being able to summarize that for us you being able to summarize that for us I'm<00:35:32.359><c> wondering</c><00:35:32.760><c> how</c><00:35:32.920><c> this</c><00:35:33.079><c> plays</c><00:35:33.359><c> out</c><00:35:33.480><c> for</c><00:35:33.640><c> a</c> I'm wondering how this plays out for a I'm wondering how this plays out for a financial<00:35:34.560><c> institution</c><00:35:35.560><c> U</c><00:35:35.880><c> Wes</c><00:35:36.160><c> how</c><00:35:36.280><c> does</c>

35:36

financial institution U Wes how does financial institution U Wes how does your<00:35:37.119><c> B</c><00:35:37.440><c> how</c><00:35:37.520><c> does</c><00:35:37.680><c> your</c><00:35:37.839><c> branch</c><00:35:38.200><c> footprint</c>

35:38

your B how does your branch footprint your B how does your branch footprint and<00:35:39.200><c> strategy</c><00:35:39.760><c> intersect</c><00:35:40.400><c> with</c><00:35:40.599><c> how</c><00:35:40.760><c> your</c> and strategy intersect with how your and strategy intersect with how your institution's<00:35:41.560><c> thinking</c><00:35:41.880><c> about</c><00:35:42.119><c> Fair</c>

35:42

institution's thinking about Fair institution's thinking about Fair lending<00:35:42.839><c> and</c><00:35:43.000><c> CRA</c><00:35:43.760><c> strategy</c><00:35:44.400><c> in</c><00:35:44.560><c> CRA</c>

35:45

lending and CRA strategy in CRA lending and CRA strategy in CRA compliance<00:35:46.280><c> yeah</c><00:35:46.440><c> well</c><00:35:46.640><c> I</c><00:35:46.720><c> I</c><00:35:46.839><c> agree</c> compliance yeah well I I agree compliance yeah well I I agree wholeheartedly<00:35:47.760><c> with</c><00:35:48.040><c> Caleb's</c><00:35:48.480><c> comments</c>

35:48

wholeheartedly with Caleb's comments wholeheartedly with Caleb's comments that<00:35:49.000><c> our</c><00:35:49.119><c> Branch</c><00:35:49.440><c> network</c><00:35:49.839><c> is</c><00:35:50.200><c> essential</c><00:35:51.200><c> uh</c>

35:51

that our Branch network is essential uh that our Branch network is essential uh to<00:35:51.440><c> our</c><00:35:51.680><c> Fair</c><00:35:51.839><c> lending</c><00:35:52.359><c> C</c><00:35:52.839><c> HDA</c><00:35:53.560><c> you</c><00:35:53.680><c> know</c><00:35:53.800><c> all</c>

35:54

to our Fair lending C HDA you know all to our Fair lending C HDA you know all the<00:35:54.200><c> efforts</c><00:35:54.720><c> uh</c><00:35:54.839><c> to</c><00:35:55.000><c> ensure</c><00:35:55.240><c> that</c><00:35:55.359><c> we're</c> the efforts uh to ensure that we're the efforts uh to ensure that we're providing<00:35:55.920><c> equal</c><00:35:56.280><c> access</c><00:35:56.520><c> to</c><00:35:56.720><c> Capital</c>

35:56

providing equal access to Capital providing equal access to Capital throughout<00:35:57.280><c> our</c><00:35:57.359><c> region</c><00:35:57.800><c> and</c><00:35:58.319><c> you</c><00:35:58.440><c> know</c><00:35:58.599><c> we</c><00:35:58.760><c> we</c> throughout our region and you know we we throughout our region and you know we we found<00:35:59.079><c> that</c><00:35:59.240><c> if</c><00:35:59.359><c> if</c><00:35:59.440><c> you're</c><00:35:59.599><c> not</c><00:35:59.720><c> in</c><00:35:59.839><c> a</c><00:36:00.000><c> market</c>

36:00

found that if if you're not in a market found that if if you're not in a market it's<00:36:00.480><c> hard</c><00:36:00.599><c> to</c><00:36:00.720><c> serve</c><00:36:01.040><c> that</c><00:36:01.240><c> market</c><00:36:01.680><c> if</c><00:36:01.800><c> you're</c> it's hard to serve that market if you're it's hard to serve that market if you're not<00:36:02.160><c> physically</c><00:36:02.760><c> there</c><00:36:03.400><c> um</c><00:36:03.720><c> you're</c><00:36:03.920><c> you're</c>

36:04

not physically there um you're you're not physically there um you're you're the<00:36:04.720><c> likelihood</c><00:36:05.200><c> of</c><00:36:05.319><c> you</c><00:36:05.599><c> ending</c><00:36:05.880><c> up</c> the likelihood of you ending up the likelihood of you ending up extending<00:36:07.040><c> capital</c><00:36:07.359><c> in</c><00:36:07.440><c> a</c><00:36:07.560><c> community</c><00:36:07.960><c> that</c>

36:08

extending capital in a community that extending capital in a community that you<00:36:08.160><c> have</c><00:36:08.319><c> no</c><00:36:08.520><c> presence</c><00:36:08.839><c> in</c><00:36:09.040><c> is</c><00:36:09.240><c> very</c><00:36:09.480><c> low</c><00:36:10.240><c> so</c>

36:10

you have no presence in is very low so you have no presence in is very low so we've<00:36:10.960><c> we've</c><00:36:11.160><c> been</c><00:36:11.359><c> extremely</c><00:36:11.800><c> intentional</c> we've we've been extremely intentional we've we've been extremely intentional over<00:36:12.560><c> the</c><00:36:12.760><c> past</c><00:36:12.960><c> 12</c><00:36:13.280><c> years</c><00:36:13.640><c> we've</c><00:36:13.800><c> opened</c>

36:14

over the past 12 years we've opened over the past 12 years we've opened three<00:36:14.400><c> new</c><00:36:14.599><c> branches</c><00:36:15.119><c> all</c><00:36:15.280><c> three</c><00:36:15.520><c> within</c><00:36:15.800><c> low</c> three new branches all three within low three new branches all three within low and<00:36:16.119><c> moderate</c><00:36:16.440><c> lower</c><00:36:16.760><c> moderate</c><00:36:17.079><c> income</c>

36:17

and moderate lower moderate income and moderate lower moderate income census<00:36:17.760><c> tracks</c><00:36:18.560><c> and</c><00:36:18.720><c> we've</c><00:36:18.920><c> found</c><00:36:19.160><c> that</c><00:36:19.319><c> our</c>

36:19

census tracks and we've found that our census tracks and we've found that our you<00:36:19.760><c> know</c><00:36:19.920><c> organically</c><00:36:20.839><c> almost</c><00:36:21.079><c> as</c><00:36:21.160><c> a</c><00:36:21.319><c> by</c> you know organically almost as a by you know organically almost as a by product<00:36:22.040><c> us</c><00:36:22.280><c> being</c><00:36:22.560><c> present</c><00:36:22.880><c> in</c><00:36:23.040><c> those</c>

36:23

product us being present in those product us being present in those communities<00:36:24.119><c> our</c><00:36:24.319><c> HDA</c><00:36:24.640><c> and</c><00:36:24.760><c> CRA</c><00:36:25.200><c> numbers</c><00:36:25.640><c> are</c>

36:26

communities our HDA and CRA numbers are communities our HDA and CRA numbers are are<00:36:26.200><c> organically</c><00:36:26.720><c> higher</c><00:36:27.200><c> again</c><00:36:27.599><c> almost</c><00:36:27.800><c> as</c><00:36:27.920><c> a</c>

36:28

are organically higher again almost as a are organically higher again almost as a byproduct<00:36:28.560><c> of</c><00:36:28.680><c> doing</c><00:36:28.920><c> the</c><00:36:29.079><c> right</c><00:36:29.280><c> thing</c><00:36:29.440><c> and</c> byproduct of doing the right thing and byproduct of doing the right thing and being<00:36:29.760><c> in</c><00:36:29.880><c> the</c><00:36:30.000><c> communities</c><00:36:30.440><c> that</c><00:36:30.560><c> you</c><00:36:30.640><c> say</c>

36:30

being in the communities that you say being in the communities that you say you're<00:36:31.119><c> serving</c><00:36:31.720><c> so</c><00:36:32.560><c> um</c><00:36:32.680><c> in</c><00:36:32.800><c> summary</c><00:36:33.240><c> it's</c>

36:33

you're serving so um in summary it's you're serving so um in summary it's it's<00:36:33.599><c> essential</c><00:36:34.400><c> uh</c><00:36:34.480><c> in</c><00:36:34.599><c> order</c><00:36:34.839><c> to</c><00:36:35.000><c> achieve</c> it's essential uh in order to achieve it's essential uh in order to achieve those

36:37

those those goals<00:36:38.240><c> Mike</c><00:36:38.680><c> you</c><00:36:39.040><c> I</c><00:36:39.160><c> see</c><00:36:39.319><c> you</c><00:36:39.440><c> came</c><00:36:39.640><c> off</c><00:36:39.839><c> mute</c>

36:40

goals Mike you I see you came off mute goals Mike you I see you came off mute how<00:36:40.440><c> do</c><00:36:40.760><c> how</c><00:36:40.839><c> does</c><00:36:41.040><c> this</c><00:36:41.240><c> interact</c><00:36:41.640><c> with</c><00:36:41.760><c> your</c> how do how does this interact with your how do how does this interact with your strategy<00:36:42.920><c> yeah</c><00:36:43.079><c> I</c><00:36:43.119><c> mean</c><00:36:43.359><c> kind</c><00:36:43.560><c> of</c><00:36:43.680><c> the</c><00:36:43.800><c> same</c>

36:43

strategy yeah I mean kind of the same strategy yeah I mean kind of the same with<00:36:44.119><c> West</c><00:36:44.359><c> like</c><00:36:44.480><c> we</c><00:36:44.640><c> make</c><00:36:44.800><c> sure</c><00:36:45.000><c> from</c><00:36:45.160><c> a</c><00:36:45.319><c> HDA</c> with West like we make sure from a HDA with West like we make sure from a HDA CRA<00:36:46.319><c> standpoint</c><00:36:46.760><c> that</c><00:36:46.839><c> we're</c><00:36:47.040><c> serving</c><00:36:47.440><c> all</c>

36:47

CRA standpoint that we're serving all CRA standpoint that we're serving all communities<00:36:48.400><c> but</c><00:36:49.000><c> you</c><00:36:49.599><c> our</c><00:36:49.920><c> strategy</c><00:36:50.920><c> um</c>

36:51

communities but you our strategy um communities but you our strategy um really<00:36:51.480><c> when</c><00:36:51.640><c> we</c><00:36:51.720><c> get</c><00:36:51.800><c> into</c><00:36:52.000><c> the</c><00:36:52.480><c> LMI</c><00:36:52.920><c> areas</c><00:36:53.240><c> or</c>

36:53

really when we get into the LMI areas or really when we get into the LMI areas or the<00:36:53.760><c> and</c><00:36:53.880><c> some</c><00:36:54.000><c> of</c><00:36:54.119><c> these</c><00:36:54.240><c> census</c><00:36:54.599><c> tracks</c><00:36:55.480><c> we</c>

36:55

the and some of these census tracks we the and some of these census tracks we feel<00:36:56.040><c> we</c><00:36:56.760><c> our</c><00:36:56.920><c> strategies</c><00:36:57.680><c> to</c><00:36:57.760><c> break</c><00:36:57.960><c> the</c>

36:58

feel we our strategies to break the feel we our strategies to break the poverty<00:36:58.520><c> cycle</c><00:36:59.040><c> so</c><00:36:59.640><c> where</c><00:37:00.119><c> we</c><00:37:01.119><c> seem</c><00:37:01.359><c> to</c><00:37:01.560><c> home</c>

37:01

poverty cycle so where we seem to home poverty cycle so where we seem to home hone<00:37:02.160><c> in</c><00:37:02.319><c> on</c><00:37:02.599><c> is</c><00:37:02.920><c> home</c><00:37:03.119><c> ownership</c><00:37:03.880><c> if</c><00:37:04.040><c> we</c><00:37:04.160><c> can</c>

37:04

hone in on is home ownership if we can hone in on is home ownership if we can get<00:37:04.680><c> we</c><00:37:04.800><c> can</c><00:37:05.040><c> come</c><00:37:05.200><c> to</c><00:37:05.359><c> those</c><00:37:05.599><c> communities</c><00:37:06.040><c> and</c> get we can come to those communities and get we can come to those communities and try<00:37:06.359><c> to</c><00:37:07.119><c> uh</c><00:37:07.400><c> encourage</c><00:37:07.839><c> and</c><00:37:08.000><c> develop</c><00:37:08.400><c> home</c>

37:08

try to uh encourage and develop home try to uh encourage and develop home ownership<00:37:09.800><c> um</c><00:37:10.240><c> we</c><00:37:10.400><c> can</c><00:37:10.800><c> we</c><00:37:10.920><c> feel</c><00:37:11.160><c> like</c><00:37:11.359><c> that's</c>

37:11

ownership um we can we feel like that's ownership um we can we feel like that's one<00:37:11.880><c> of</c><00:37:12.000><c> the</c><00:37:12.200><c> best</c><00:37:12.560><c> tactics</c><00:37:12.960><c> to</c><00:37:13.119><c> try</c><00:37:13.240><c> to</c><00:37:13.359><c> break</c> one of the best tactics to try to break one of the best tactics to try to break the<00:37:13.800><c> poverty</c><00:37:14.560><c> the</c><00:37:14.800><c> poverty</c><00:37:15.200><c> cycle</c><00:37:15.560><c> and</c><00:37:15.720><c> try</c><00:37:15.880><c> to</c>

37:16

the poverty the poverty cycle and try to the poverty the poverty cycle and try to create<00:37:16.720><c> a</c><00:37:16.920><c> a</c><00:37:17.079><c> generation</c><00:37:17.599><c> of</c><00:37:17.839><c> wealth</c><00:37:18.839><c> and</c><00:37:19.160><c> and</c>

37:19

create a a generation of wealth and and create a a generation of wealth and and and<00:37:20.400><c> by</c><00:37:20.599><c> doing</c><00:37:20.920><c> that</c><00:37:21.200><c> that</c><00:37:21.359><c> is</c><00:37:22.319><c> to</c><00:37:22.599><c> what</c><00:37:22.800><c> Caleb</c>

37:23

and by doing that that is to what Caleb and by doing that that is to what Caleb said<00:37:23.359><c> and</c><00:37:23.520><c> what</c><00:37:23.680><c> Wes</c><00:37:23.920><c> said</c><00:37:24.160><c> like</c><00:37:24.560><c> we</c><00:37:24.800><c> have</c><00:37:25.119><c> full</c>

37:25

said and what Wes said like we have full said and what Wes said like we have full resources<00:37:26.119><c> in</c><00:37:26.359><c> some</c><00:37:26.640><c> of</c><00:37:26.920><c> these</c><00:37:27.680><c> uh</c><00:37:27.920><c> LMI</c><00:37:28.560><c> areas</c>

37:29

resources in some of these uh LMI areas resources in some of these uh LMI areas we<00:37:29.760><c> have</c><00:37:30.359><c> um</c><00:37:30.800><c> we've</c><00:37:31.000><c> built</c><00:37:31.280><c> to</c><00:37:31.520><c> a</c><00:37:31.720><c> branch</c><00:37:32.480><c> uh</c><00:37:32.800><c> in</c>

37:32

we have um we've built to a branch uh in we have um we've built to a branch uh in some<00:37:33.119><c> of</c><00:37:33.240><c> these</c><00:37:33.440><c> areas</c><00:37:34.319><c> uh</c><00:37:34.440><c> we</c><00:37:34.640><c> have</c><00:37:34.800><c> the</c> some of these areas uh we have the some of these areas uh we have the mobile<00:37:35.200><c> banking</c><00:37:35.599><c> unit</c><00:37:35.839><c> going</c><00:37:36.040><c> into</c><00:37:36.200><c> some</c><00:37:36.280><c> of</c>

37:36

mobile banking unit going into some of mobile banking unit going into some of these<00:37:36.520><c> areas</c><00:37:36.839><c> we're</c><00:37:37.000><c> doing</c><00:37:37.359><c> advertising</c><00:37:37.920><c> and</c> these areas we're doing advertising and these areas we're doing advertising and marketing<00:37:38.440><c> and</c><00:37:38.599><c> digital</c><00:37:38.960><c> advertising</c><00:37:39.839><c> in</c><00:37:40.040><c> all</c>

37:40

marketing and digital advertising in all marketing and digital advertising in all regions<00:37:40.720><c> whether</c><00:37:40.920><c> it's</c><00:37:41.079><c> rural</c><00:37:41.440><c> suburban</c> regions whether it's rural suburban regions whether it's rural suburban Urban<00:37:43.079><c> um</c><00:37:43.240><c> that</c><00:37:43.359><c> we</c><00:37:43.520><c> can</c><00:37:43.640><c> offer</c><00:37:43.880><c> this</c><00:37:44.040><c> product</c>

37:44

Urban um that we can offer this product Urban um that we can offer this product everywhere<00:37:44.880><c> everybody's</c><00:37:45.520><c> eligible</c><00:37:45.960><c> to</c><00:37:46.160><c> this</c>

37:46

everywhere everybody's eligible to this everywhere everybody's eligible to this regardless<00:37:46.880><c> of</c><00:37:47.119><c> what</c><00:37:47.200><c> your</c><00:37:47.359><c> ZIP</c><00:37:47.640><c> code</c><00:37:47.960><c> is</c><00:37:48.640><c> and</c>

37:48

regardless of what your ZIP code is and regardless of what your ZIP code is and I<00:37:48.960><c> think</c><00:37:49.240><c> that's</c><00:37:49.800><c> um</c><00:37:50.480><c> I</c><00:37:50.599><c> think</c><00:37:50.839><c> really</c><00:37:51.079><c> with</c>

37:51

I think that's um I think really with I think that's um I think really with the<00:37:51.319><c> focus</c><00:37:51.640><c> on</c><00:37:51.760><c> home</c><00:37:51.880><c> ownership</c><00:37:52.319><c> and</c><00:37:52.440><c> these</c><00:37:52.880><c> in</c> the focus on home ownership and these in the focus on home ownership and these in Bank<00:37:53.280><c> in</c><00:37:53.400><c> the</c><00:37:53.599><c> trend</c><00:37:53.839><c> of</c><00:37:54.000><c> Bank</c><00:37:54.240><c> on</c><00:37:54.520><c> accounts</c>

37:54

Bank in the trend of Bank on accounts Bank in the trend of Bank on accounts right<00:37:55.440><c> we</c><00:37:55.599><c> have</c><00:37:56.000><c> uh</c><00:37:56.680><c> uh</c><00:37:57.720><c> non</c><00:37:58.079><c> overdraft</c><00:37:58.800><c> no</c><00:37:59.040><c> fee</c>

37:59

right we have uh uh non overdraft no fee right we have uh uh non overdraft no fee checking<00:37:59.839><c> that</c><00:38:00.000><c> we</c><00:38:00.160><c> can</c><00:38:00.359><c> provide</c><00:38:01.040><c> so</c><00:38:01.640><c> uh</c><00:38:01.920><c> some</c>

38:02

checking that we can provide so uh some checking that we can provide so uh some of<00:38:02.560><c> uh</c><00:38:02.760><c> these</c><00:38:03.720><c> uh</c><00:38:03.880><c> citizens</c><00:38:04.319><c> and</c><00:38:04.480><c> some</c><00:38:04.599><c> of</c>

38:04

of uh these uh citizens and some of of uh these uh citizens and some of these<00:38:05.119><c> uh</c><00:38:05.200><c> sensus</c><00:38:05.640><c> trctor</c><00:38:05.960><c> LMI</c><00:38:06.319><c> areas</c><00:38:06.560><c> are</c><00:38:06.880><c> not</c>

38:07

these uh sensus trctor LMI areas are not these uh sensus trctor LMI areas are not getting<00:38:07.240><c> nickel</c><00:38:07.599><c> and</c><00:38:07.760><c> died</c><00:38:08.160><c> and</c><00:38:08.560><c> getting</c> getting nickel and died and getting getting nickel and died and getting nuisance<00:38:09.359><c> fees</c><00:38:09.880><c> that</c><00:38:10.079><c> that</c><00:38:10.200><c> we're</c><00:38:10.440><c> really</c>

38:10

nuisance fees that that we're really nuisance fees that that we're really trying<00:38:10.880><c> to</c><00:38:11.040><c> create</c><00:38:11.760><c> trust</c><00:38:12.280><c> back</c><00:38:12.480><c> in</c><00:38:12.640><c> a</c>

38:12

trying to create trust back in a trying to create trust back in a community<00:38:13.240><c> Banker</c><00:38:13.880><c> trust</c><00:38:14.240><c> back</c><00:38:14.440><c> in</c><00:38:14.680><c> financial</c>

38:15

community Banker trust back in financial community Banker trust back in financial institutions<00:38:15.800><c> so</c><00:38:15.960><c> that</c><00:38:16.119><c> we</c><00:38:16.280><c> can</c><00:38:16.880><c> develop</c><00:38:17.280><c> a</c>

38:17

institutions so that we can develop a institutions so that we can develop a relationship<00:38:18.280><c> have</c><00:38:18.440><c> them</c><00:38:18.599><c> do</c><00:38:18.720><c> their</c><00:38:18.880><c> main</c> relationship have them do their main relationship have them do their main banking<00:38:19.520><c> with</c><00:38:19.720><c> us</c><00:38:19.920><c> and</c><00:38:20.040><c> then</c><00:38:20.240><c> hopefully</c><00:38:21.079><c> help</c>

38:21

banking with us and then hopefully help banking with us and then hopefully help them<00:38:21.560><c> through</c><00:38:21.720><c> their</c><00:38:21.920><c> life</c><00:38:22.160><c> cycles</c><00:38:22.560><c> of</c><00:38:22.839><c> buying</c> them through their life cycles of buying them through their life cycles of buying a<00:38:23.319><c> home</c><00:38:23.720><c> and</c><00:38:24.040><c> and</c><00:38:24.200><c> creating</c><00:38:24.800><c> uh</c><00:38:25.160><c> creating</c>

38:25

a home and and creating uh creating a home and and creating uh creating starting<00:38:25.960><c> that</c><00:38:26.119><c> wealth</c><00:38:26.440><c> cycle</c><00:38:26.800><c> for</c><00:38:27.119><c> for</c><00:38:27.839><c> for</c>

38:28

starting that wealth cycle for for for starting that wealth cycle for for for these these these neighborhoods<00:38:30.440><c> thanks</c><00:38:30.760><c> Mike</c><00:38:31.000><c> and</c><00:38:31.119><c> you've</c>

38:31

neighborhoods thanks Mike and you've neighborhoods thanks Mike and you've already<00:38:31.520><c> started</c><00:38:31.800><c> to</c><00:38:31.880><c> share</c><00:38:32.119><c> a</c><00:38:32.240><c> little</c><00:38:32.480><c> bit</c> already started to share a little bit already started to share a little bit about<00:38:33.200><c> where</c><00:38:33.400><c> i'</c><00:38:33.640><c> love</c><00:38:33.839><c> for</c><00:38:33.960><c> our</c><00:38:34.160><c> conversation</c>

38:34

about where i' love for our conversation about where i' love for our conversation to<00:38:34.760><c> go</c><00:38:34.960><c> next</c><00:38:35.200><c> I</c><00:38:35.319><c> see</c><00:38:35.520><c> a</c><00:38:35.640><c> lot</c><00:38:35.760><c> of</c><00:38:35.920><c> questions</c> to go next I see a lot of questions to go next I see a lot of questions starting<00:38:36.640><c> to</c><00:38:36.800><c> roll</c><00:38:37.119><c> in</c><00:38:37.560><c> and</c><00:38:37.640><c> so</c><00:38:37.880><c> our</c><00:38:38.119><c> to</c><00:38:38.280><c> our</c>

38:38

starting to roll in and so our to our starting to roll in and so our to our attendees<00:38:39.200><c> please</c><00:38:39.480><c> keep</c><00:38:39.680><c> them</c><00:38:39.880><c> coming</c> attendees please keep them coming attendees please keep them coming because<00:38:40.440><c> we're</c><00:38:40.520><c> going</c><00:38:40.640><c> to</c><00:38:40.720><c> come</c><00:38:40.839><c> to</c><00:38:41.000><c> you</c><00:38:41.119><c> all</c>

38:41

because we're going to come to you all because we're going to come to you all next<00:38:42.040><c> but</c><00:38:42.160><c> you</c><00:38:42.280><c> started</c><00:38:42.599><c> to</c><00:38:42.720><c> talk</c><00:38:42.880><c> a</c><00:38:42.960><c> little</c> next but you started to talk a little next but you started to talk a little bit<00:38:43.280><c> about</c><00:38:43.560><c> the</c><00:38:43.720><c> Innovations</c><00:38:44.720><c> the</c><00:38:44.839><c> mobile</c>

38:45

bit about the Innovations the mobile bit about the Innovations the mobile banking<00:38:45.520><c> centers</c><00:38:46.440><c> Miguel</c><00:38:47.079><c> I</c><00:38:47.400><c> was</c><00:38:47.560><c> reading</c>

38:47

banking centers Miguel I was reading banking centers Miguel I was reading about<00:38:48.280><c> Southern's</c><00:38:48.800><c> Branch</c><00:38:49.160><c> resistance</c> about Southern's Branch resistance about Southern's Branch resistance strategy<00:38:50.839><c> and</c><00:38:51.240><c> I</c><00:38:51.480><c> would</c><00:38:51.599><c> love</c><00:38:51.760><c> to</c><00:38:51.880><c> hear</c><00:38:52.119><c> more</c>

38:52

strategy and I would love to hear more strategy and I would love to hear more about<00:38:52.880><c> that</c><00:38:53.160><c> especially</c><00:38:53.599><c> how</c><00:38:53.920><c> that</c><00:38:54.440><c> works</c><00:38:55.040><c> as</c>

38:55

about that especially how that works as about that especially how that works as you're<00:38:55.359><c> being</c><00:38:55.640><c> responsive</c><00:38:56.040><c> to</c><00:38:56.160><c> rural</c> you're being responsive to rural you're being responsive to rural communities

38:57

communities communities yeah<00:38:58.240><c> absolutely</c><00:38:59.240><c> well</c><00:39:00.160><c> you</c><00:39:00.319><c> know</c><00:39:01.040><c> for</c><00:39:01.280><c> us</c><00:39:01.440><c> at</c>

39:01

yeah absolutely well you know for us at yeah absolutely well you know for us at Southern<00:39:02.480><c> we</c><00:39:02.599><c> call</c><00:39:02.800><c> ourselves</c><00:39:03.160><c> Wealth</c> Southern we call ourselves Wealth Southern we call ourselves Wealth Builders<00:39:03.800><c> we're</c><00:39:03.960><c> more</c><00:39:04.079><c> than</c><00:39:04.280><c> just</c><00:39:04.440><c> bankers</c>

39:04

Builders we're more than just bankers Builders we're more than just bankers and<00:39:05.040><c> the</c><00:39:05.160><c> reality</c><00:39:05.720><c> is</c><00:39:05.839><c> the</c><00:39:06.000><c> key</c><00:39:06.200><c> to</c><00:39:06.319><c> Upward</c> and the reality is the key to Upward and the reality is the key to Upward Mobility<00:39:07.800><c> which</c><00:39:07.920><c> is</c><00:39:08.079><c> the</c><00:39:08.200><c> Quint</c><00:39:08.560><c> Central</c>

39:08

Mobility which is the Quint Central Mobility which is the Quint Central American<00:39:09.119><c> Dream</c><00:39:09.560><c> you</c><00:39:09.680><c> really</c><00:39:09.880><c> need</c><00:39:10.040><c> a</c><00:39:10.319><c> strong</c> American Dream you really need a strong American Dream you really need a strong financial<00:39:11.000><c> partner</c><00:39:11.359><c> in</c><00:39:11.480><c> your</c><00:39:11.800><c> corner</c><00:39:12.800><c> and</c><00:39:13.440><c> you</c>

39:13

financial partner in your corner and you financial partner in your corner and you know<00:39:14.040><c> some</c><00:39:14.240><c> of</c><00:39:14.359><c> our</c><00:39:14.480><c> Bankers</c><00:39:14.880><c> focus</c><00:39:15.240><c> on</c>

39:15

know some of our Bankers focus on know some of our Bankers focus on mortgage<00:39:16.000><c> lending</c><00:39:16.400><c> we've</c><00:39:16.640><c> just</c><00:39:17.000><c> hired</c><00:39:17.359><c> a</c>

39:17

mortgage lending we've just hired a mortgage lending we've just hired a mortgage<00:39:18.119><c> company</c><00:39:18.440><c> and</c><00:39:18.560><c> that's</c><00:39:18.720><c> going</c><00:39:18.800><c> to</c> mortgage company and that's going to mortgage company and that's going to drive<00:39:19.160><c> a</c><00:39:19.240><c> lot</c><00:39:19.359><c> of</c><00:39:19.440><c> our</c><00:39:19.599><c> growth</c><00:39:19.920><c> going</c><00:39:20.160><c> forward</c>

39:20

drive a lot of our growth going forward drive a lot of our growth going forward because<00:39:21.160><c> to</c><00:39:21.440><c> Mike's</c><00:39:21.720><c> Point</c><00:39:22.040><c> that's</c><00:39:22.200><c> the</c> because to Mike's Point that's the because to Mike's Point that's the fastest<00:39:22.720><c> way</c><00:39:22.839><c> to</c><00:39:23.040><c> achieve</c><00:39:23.560><c> you</c><00:39:23.680><c> know</c>

39:23

fastest way to achieve you know fastest way to achieve you know generational<00:39:24.560><c> wealth</c><00:39:25.560><c> um</c><00:39:26.359><c> but</c><00:39:26.520><c> not</c>

39:26

generational wealth um but not generational wealth um but not everyone's<00:39:27.040><c> borrowing</c><00:39:27.440><c> already</c><00:39:27.800><c> we</c><00:39:27.960><c> also</c> everyone's borrowing already we also everyone's borrowing already we also have<00:39:28.680><c> Financial</c><00:39:29.680><c> uh</c><00:39:30.280><c> financial</c><00:39:30.720><c> counselors</c>

39:31

have Financial uh financial counselors have Financial uh financial counselors that<00:39:31.560><c> we</c><00:39:31.920><c> are</c><00:39:32.240><c> you</c><00:39:32.760><c> those</c><00:39:32.880><c> are</c><00:39:33.040><c> salary</c>

39:33

that we are you those are salary that we are you those are salary employees<00:39:33.880><c> and</c><00:39:33.960><c> their</c><00:39:34.119><c> whole</c><00:39:34.359><c> job</c><00:39:34.599><c> is</c><00:39:34.760><c> to</c><00:39:35.760><c> uh</c>

39:35

employees and their whole job is to uh employees and their whole job is to uh work<00:39:36.240><c> on</c><00:39:36.359><c> people's</c><00:39:36.640><c> credit</c><00:39:36.960><c> because</c><00:39:37.119><c> that's</c> work on people's credit because that's work on people's credit because that's typically<00:39:37.680><c> the</c><00:39:37.839><c> biggest</c><00:39:38.119><c> barrier</c><00:39:39.000><c> we</c><00:39:39.200><c> also</c>

39:39

typically the biggest barrier we also typically the biggest barrier we also have<00:39:39.599><c> a</c><00:39:39.720><c> down</c><00:39:39.920><c> payment</c><00:39:40.200><c> assistance</c><00:39:40.640><c> programs</c>

39:41

have a down payment assistance programs have a down payment assistance programs uh<00:39:41.720><c> which</c><00:39:42.359><c> typically</c><00:39:42.720><c> the</c><00:39:42.839><c> biggest</c><00:39:43.040><c> barrier</c> uh which typically the biggest barrier uh which typically the biggest barrier to<00:39:43.480><c> home</c><00:39:43.599><c> ownership</c><00:39:44.040><c> is</c><00:39:44.240><c> hey</c><00:39:44.359><c> I</c><00:39:44.440><c> don't</c><00:39:44.560><c> have</c>

39:44

to home ownership is hey I don't have to home ownership is hey I don't have the<00:39:44.839><c> credit</c><00:39:45.119><c> or</c><00:39:45.280><c> I</c><00:39:45.359><c> don't</c><00:39:45.480><c> have</c><00:39:45.599><c> the</c><00:39:45.720><c> money</c> the credit or I don't have the money the credit or I don't have the money down<00:39:46.599><c> we</c><00:39:46.720><c> want</c><00:39:46.839><c> to</c><00:39:46.960><c> knock</c><00:39:47.280><c> those</c><00:39:47.440><c> barriers</c>

39:47

down we want to knock those barriers down we want to knock those barriers down<00:39:48.040><c> so</c><00:39:48.280><c> we</c><00:39:48.359><c> can</c><00:39:48.440><c> get</c><00:39:48.599><c> folks</c><00:39:48.839><c> in</c><00:39:49.040><c> homes</c><00:39:49.839><c> but</c><00:39:50.079><c> in</c>

39:50

down so we can get folks in homes but in down so we can get folks in homes but in in<00:39:50.440><c> regards</c><00:39:50.760><c> to</c><00:39:50.920><c> our</c><00:39:51.040><c> Branch</c><00:39:51.680><c> strategy</c><00:39:52.680><c> um</c>

39:53

in regards to our Branch strategy um in regards to our Branch strategy um like<00:39:53.200><c> I</c><00:39:53.280><c> said</c><00:39:53.440><c> earlier</c><00:39:53.760><c> we</c><00:39:53.839><c> have</c><00:39:54.000><c> 56</c><00:39:54.440><c> branches</c> like I said earlier we have 56 branches like I said earlier we have 56 branches in<00:39:55.079><c> very</c><00:39:55.400><c> rural</c><00:39:55.920><c> communities</c><00:39:56.920><c> and</c><00:39:57.440><c> in</c><00:39:57.640><c> those</c>

39:57

in very rural communities and in those in very rural communities and in those markets<00:39:58.240><c> we're</c><00:39:58.440><c> more</c><00:39:58.640><c> than</c><00:39:58.800><c> just</c><00:39:58.960><c> a</c><00:39:59.119><c> bank</c><00:39:59.560><c> we</c> markets we're more than just a bank we markets we're more than just a bank we have<00:40:00.160><c> a</c><00:40:00.359><c> nonprofit</c><00:40:00.960><c> Southern</c><00:40:01.280><c> Bank</c><00:40:01.640><c> Community</c>

40:02

have a nonprofit Southern Bank Community have a nonprofit Southern Bank Community Partners<00:40:02.920><c> where</c><00:40:03.079><c> we</c><00:40:03.240><c> do</c><00:40:03.480><c> things</c><00:40:03.680><c> like</c><00:40:03.839><c> buer</c>

40:04

Partners where we do things like buer Partners where we do things like buer returns<00:40:04.599><c> we</c><00:40:04.720><c> partner</c><00:40:05.000><c> with</c><00:40:05.119><c> the</c><00:40:05.240><c> IRS</c><00:40:05.720><c> to</c><00:40:05.839><c> do</c> returns we partner with the IRS to do returns we partner with the IRS to do free<00:40:06.359><c> tax</c><00:40:06.760><c> returns</c><00:40:07.079><c> this</c><00:40:07.200><c> year</c><00:40:07.400><c> we</c><00:40:07.560><c> did</c>

40:09

free tax returns this year we did free tax returns this year we did 4,719<00:40:10.280><c> and</c><00:40:10.400><c> that</c><00:40:10.560><c> was</c><00:40:10.720><c> around</c><00:40:10.880><c> $7</c><00:40:11.280><c> million</c><00:40:11.880><c> of</c>

40:12

4,719 and that was around $7 million of 4,719 and that was around $7 million of free<00:40:12.800><c> tax</c><00:40:13.160><c> returns</c><00:40:13.520><c> in</c><00:40:13.839><c> in</c><00:40:14.000><c> people's</c><00:40:14.359><c> pockets</c>

40:15

free tax returns in in people's pockets free tax returns in in people's pockets we<00:40:15.400><c> also</c><00:40:16.119><c> have</c><00:40:16.359><c> credit</c><00:40:16.640><c> Builder</c><00:40:17.000><c> CDs</c><00:40:17.880><c> so</c>

40:18

we also have credit Builder CDs so we also have credit Builder CDs so really<00:40:18.640><c> it's</c><00:40:19.359><c> you</c><00:40:19.480><c> know</c><00:40:19.920><c> it's</c><00:40:20.119><c> it's</c><00:40:20.280><c> who</c><00:40:20.440><c> we</c>

40:20

really it's you know it's it's who we really it's you know it's it's who we are<00:40:20.760><c> it's</c><00:40:20.880><c> at</c><00:40:21.040><c> to</c><00:40:21.160><c> eat</c><00:40:21.400><c> those</c><00:40:21.520><c> of</c><00:40:21.880><c> why</c><00:40:22.000><c> we</c><00:40:22.119><c> were</c> are it's at to eat those of why we were are it's at to eat those of why we were created<00:40:22.680><c> as</c><00:40:22.760><c> an</c><00:40:22.960><c> institution</c><00:40:23.520><c> as</c><00:40:23.640><c> a</c><00:40:23.720><c> cdfi</c><00:40:24.400><c> bank</c>

40:25

created as an institution as a cdfi bank created as an institution as a cdfi bank um<00:40:26.760><c> we</c><00:40:26.960><c> just</c><00:40:27.319><c> up</c><00:40:27.400><c> in</c><00:40:27.480><c> a</c><00:40:27.599><c> branch</c><00:40:27.839><c> in</c><00:40:27.960><c> 12</c><00:40:28.280><c> Street</c>

40:28

um we just up in a branch in 12 Street um we just up in a branch in 12 Street which<00:40:28.880><c> was</c><00:40:29.000><c> a</c><00:40:29.240><c> banking</c><00:40:29.599><c> desert</c><00:40:29.920><c> in</c><00:40:30.079><c> Lok</c><00:40:30.640><c> there</c>

40:30

which was a banking desert in Lok there which was a banking desert in Lok there hadn't<00:40:30.960><c> been</c><00:40:31.079><c> a</c><00:40:31.240><c> financial</c><00:40:31.680><c> institution</c><00:40:32.119><c> in</c> hadn't been a financial institution in hadn't been a financial institution in that<00:40:32.480><c> area</c><00:40:32.720><c> for</c><00:40:32.920><c> 30</c><00:40:33.280><c> years</c><00:40:34.000><c> and</c><00:40:34.160><c> instead</c><00:40:34.400><c> of</c>

40:34

that area for 30 years and instead of that area for 30 years and instead of going<00:40:34.960><c> elsewhere</c><00:40:35.400><c> we</c><00:40:35.520><c> went</c><00:40:35.760><c> right</c><00:40:35.920><c> in</c><00:40:36.040><c> the</c> going elsewhere we went right in the going elsewhere we went right in the heart<00:40:36.319><c> of</c><00:40:36.440><c> that</c><00:40:36.560><c> Community</c><00:40:36.960><c> we</c><00:40:37.040><c> said</c><00:40:37.200><c> hey</c>

40:37

heart of that Community we said hey heart of that Community we said hey there<00:40:37.400><c> needs</c><00:40:37.560><c> to</c><00:40:37.680><c> be</c><00:40:37.800><c> a</c><00:40:37.880><c> bank</c><00:40:38.160><c> there</c><00:40:38.520><c> and</c><00:40:38.640><c> if</c> there needs to be a bank there and if there needs to be a bank there and if not<00:40:39.000><c> us</c><00:40:39.319><c> who</c><00:40:40.319><c> um</c><00:40:40.599><c> so</c><00:40:40.839><c> that's</c><00:40:41.040><c> really</c><00:40:41.280><c> our</c>

40:41

not us who um so that's really our not us who um so that's really our modotto<00:40:41.960><c> is</c><00:40:42.680><c> but</c><00:40:43.000><c> it</c><00:40:43.079><c> takes</c><00:40:43.400><c> more</c><00:40:43.560><c> than</c><00:40:43.680><c> just</c>

40:43

modotto is but it takes more than just modotto is but it takes more than just building<00:40:44.160><c> that</c><00:40:44.319><c> Branch</c><00:40:44.599><c> because</c><00:40:44.720><c> then</c><00:40:44.839><c> you</c> building that Branch because then you building that Branch because then you got<00:40:45.040><c> to</c><00:40:45.240><c> staff</c><00:40:45.560><c> it</c><00:40:46.040><c> right</c><00:40:46.520><c> and</c><00:40:46.599><c> I</c><00:40:46.720><c> think</c><00:40:46.880><c> Wes</c>

40:47

got to staff it right and I think Wes got to staff it right and I think Wes had<00:40:47.280><c> a</c><00:40:47.400><c> great</c><00:40:47.680><c> Point</c><00:40:47.920><c> earlier</c><00:40:48.800><c> your</c><00:40:49.160><c> branch</c>

40:49

had a great Point earlier your branch had a great Point earlier your branch employees<00:40:50.480><c> need</c><00:40:50.640><c> to</c><00:40:50.839><c> reflect</c><00:40:51.280><c> the</c> employees need to reflect the employees need to reflect the communities<00:40:51.800><c> that</c><00:40:52.000><c> they</c><00:40:52.160><c> serve</c><00:40:52.680><c> and</c><00:40:52.880><c> and</c>

40:53

communities that they serve and and communities that they serve and and oftentimes<00:40:53.599><c> when</c><00:40:53.720><c> you're</c><00:40:53.880><c> the</c><00:40:54.000><c> only</c><00:40:54.280><c> Bank</c><00:40:54.520><c> in</c> oftentimes when you're the only Bank in oftentimes when you're the only Bank in town<00:40:55.200><c> like</c><00:40:55.359><c> we</c><00:40:55.520><c> are</c><00:40:56.400><c> it's</c><00:40:56.599><c> not</c><00:40:56.800><c> who</c><00:40:56.960><c> you're</c>

40:57

town like we are it's not who you're town like we are it's not who you're competing<00:40:57.680><c> with</c><00:40:57.920><c> because</c><00:40:58.079><c> there</c><00:40:58.200><c> is</c><00:40:58.359><c> no</c> competing with because there is no competing with because there is no competition<00:40:59.280><c> it's</c><00:40:59.599><c> what</c><00:40:59.760><c> you're</c><00:41:00.000><c> competing</c>

41:00

competition it's what you're competing competition it's what you're competing with<00:41:00.839><c> right</c><00:41:01.440><c> and</c><00:41:01.599><c> that's</c><00:41:01.960><c> cultural</c><00:41:02.520><c> nuances</c>

41:03

with right and that's cultural nuances with right and that's cultural nuances trust<00:41:04.319><c> language</c><00:41:05.160><c> barriers</c><00:41:06.160><c> um</c><00:41:06.359><c> and</c><00:41:06.520><c> for</c><00:41:06.760><c> us</c><00:41:07.040><c> as</c>

41:07

trust language barriers um and for us as trust language barriers um and for us as an<00:41:07.359><c> institution</c><00:41:07.960><c> is</c><00:41:08.640><c> we</c><00:41:08.760><c> need</c><00:41:08.880><c> to</c><00:41:09.119><c> tackle</c>

41:09

an institution is we need to tackle an institution is we need to tackle those<00:41:09.640><c> barriers</c><00:41:10.119><c> right</c><00:41:10.240><c> if</c><00:41:10.359><c> they</c><00:41:10.440><c> don't</c><00:41:10.640><c> speak</c> those barriers right if they don't speak those barriers right if they don't speak English<00:41:11.319><c> we</c><00:41:11.440><c> need</c><00:41:11.520><c> to</c><00:41:11.640><c> hire</c><00:41:11.839><c> someone</c><00:41:12.079><c> that's</c>

41:12

English we need to hire someone that's English we need to hire someone that's bilingual<00:41:13.400><c> and</c><00:41:13.560><c> not</c><00:41:13.720><c> just</c><00:41:13.839><c> the</c><00:41:14.040><c> bilingual</c>

41:14

bilingual and not just the bilingual bilingual and not just the bilingual teller<00:41:15.520><c> we</c><00:41:15.640><c> need</c><00:41:15.800><c> a</c><00:41:15.960><c> bilingual</c><00:41:16.480><c> commercial</c>

41:16

teller we need a bilingual commercial teller we need a bilingual commercial loan<00:41:17.240><c> officer</c><00:41:17.720><c> that</c><00:41:17.839><c> can</c><00:41:18.040><c> sit</c><00:41:18.280><c> down</c><00:41:18.520><c> with</c><00:41:18.640><c> the</c> loan officer that can sit down with the loan officer that can sit down with the bilingual<00:41:19.560><c> with</c><00:41:19.680><c> the</c><00:41:19.880><c> Hispanic</c><00:41:20.839><c> business</c>

41:21

bilingual with the Hispanic business bilingual with the Hispanic business customer<00:41:21.520><c> and</c><00:41:21.640><c> say</c><00:41:21.920><c> hey</c><00:41:22.560><c> here's</c><00:41:22.800><c> why</c><00:41:22.920><c> you're</c> customer and say hey here's why you're customer and say hey here's why you're not<00:41:23.240><c> borrowing</c><00:41:23.720><c> me</c><00:41:24.079><c> right</c><00:41:24.200><c> you're</c><00:41:24.319><c> showing</c>

41:24

not borrowing me right you're showing not borrowing me right you're showing loss<00:41:25.119><c> your</c><00:41:25.599><c> your</c><00:41:25.720><c> taxs</c><00:41:26.280><c> we</c><00:41:26.359><c> know</c><00:41:26.560><c> that's</c><00:41:26.720><c> not</c>

41:26

loss your your taxs we know that's not loss your your taxs we know that's not true<00:41:27.440><c> Let's</c><00:41:27.720><c> help</c><00:41:27.920><c> you</c><00:41:28.160><c> get</c><00:41:28.760><c> so</c><00:41:28.960><c> that</c><00:41:29.079><c> your</c>

41:29

true Let's help you get so that your true Let's help you get so that your cash<00:41:29.480><c> flows</c><00:41:29.760><c> are</c><00:41:30.000><c> positive</c><00:41:30.720><c> same</c><00:41:30.960><c> thing</c><00:41:31.079><c> on</c> cash flows are positive same thing on cash flows are positive same thing on the<00:41:31.319><c> mortgage</c><00:41:31.760><c> side</c><00:41:32.000><c> we're</c><00:41:32.160><c> fortunate</c><00:41:32.680><c> now</c>

41:32

the mortgage side we're fortunate now the mortgage side we're fortunate now that<00:41:33.079><c> we've</c><00:41:33.319><c> got</c><00:41:33.960><c> commercial</c><00:41:34.359><c> loan</c><00:41:34.599><c> officers</c>

41:34

that we've got commercial loan officers that we've got commercial loan officers that<00:41:35.040><c> are</c><00:41:35.280><c> bilingua</c><00:41:35.839><c> Hispanic</c><00:41:36.440><c> same</c><00:41:36.640><c> thing</c><00:41:36.760><c> on</c> that are bilingua Hispanic same thing on that are bilingua Hispanic same thing on the<00:41:36.960><c> mortgage</c><00:41:37.440><c> side</c><00:41:38.359><c> I'll</c><00:41:38.599><c> stop</c><00:41:38.960><c> because</c><00:41:39.119><c> I</c>

41:39

the mortgage side I'll stop because I the mortgage side I'll stop because I could<00:41:39.480><c> talk</c><00:41:39.680><c> about</c><00:41:39.880><c> this</c><00:41:40.040><c> for</c><00:41:40.240><c> hours</c><00:41:40.599><c> because</c> could talk about this for hours because could talk about this for hours because I'm<00:41:40.880><c> super</c><00:41:41.240><c> passionate</c><00:41:41.599><c> about</c><00:41:41.800><c> it</c><00:41:42.240><c> but</c><00:41:42.359><c> it</c>

41:42

I'm super passionate about it but it I'm super passionate about it but it really<00:41:42.680><c> boils</c><00:41:43.079><c> down</c><00:41:43.319><c> to</c><00:41:43.920><c> intentionality</c><00:41:44.920><c> and</c>

41:45

really boils down to intentionality and really boils down to intentionality and then<00:41:45.319><c> also</c><00:41:46.240><c> hiring</c><00:41:47.240><c> from</c><00:41:47.480><c> within</c><00:41:48.160><c> but</c><00:41:48.280><c> not</c>

41:48

then also hiring from within but not then also hiring from within but not just<00:41:48.599><c> hiring</c><00:41:49.040><c> you</c><00:41:49.160><c> got</c><00:41:49.280><c> to</c><00:41:49.480><c> give</c><00:41:49.640><c> your</c><00:41:49.800><c> Bankers</c> just hiring you got to give your Bankers just hiring you got to give your Bankers a<00:41:50.480><c> fighting</c><00:41:50.839><c> chance</c><00:41:51.319><c> and</c><00:41:51.520><c> give</c><00:41:51.640><c> them</c>

41:52

a fighting chance and give them a fighting chance and give them responsible<00:41:52.760><c> products</c><00:41:53.520><c> and</c><00:41:53.720><c> reactive</c>

41:54

responsible products and reactive responsible products and reactive products<00:41:54.560><c> so</c><00:41:54.680><c> that</c><00:41:54.839><c> they</c><00:41:54.920><c> can</c><00:41:55.079><c> easily</c><00:41:55.319><c> lend</c><00:41:55.560><c> in</c> products so that they can easily lend in products so that they can easily lend in these<00:41:55.920><c> communities</c>

41:58

these communities these communities Miguel<00:41:58.640><c> I</c><00:41:58.720><c> know</c><00:41:58.880><c> you</c><00:41:59.040><c> stopped</c><00:41:59.480><c> but</c><00:41:59.599><c> I'm</c><00:41:59.680><c> going</c> Miguel I know you stopped but I'm going Miguel I know you stopped but I'm going to<00:41:59.920><c> come</c><00:42:00.119><c> back</c><00:42:00.280><c> to</c><00:42:00.480><c> that</c><00:42:00.599><c> one</c><00:42:00.839><c> because</c><00:42:01.040><c> we've</c>

42:01

to come back to that one because we've to come back to that one because we've got<00:42:01.319><c> a</c><00:42:01.480><c> great</c><00:42:01.760><c> question</c><00:42:02.040><c> in</c><00:42:02.200><c> the</c><00:42:02.400><c> queue</c><00:42:02.800><c> around</c> got a great question in the queue around got a great question in the queue around that<00:42:03.760><c> Wes</c><00:42:04.240><c> I</c><00:42:04.480><c> do</c><00:42:04.599><c> want</c><00:42:04.680><c> to</c><00:42:04.800><c> come</c><00:42:04.920><c> to</c><00:42:05.040><c> you</c><00:42:05.200><c> before</c>

42:05

that Wes I do want to come to you before that Wes I do want to come to you before we<00:42:05.520><c> go</c><00:42:05.640><c> to</c><00:42:05.760><c> our</c><00:42:05.880><c> audience</c><00:42:06.359><c> questions</c><00:42:07.000><c> to</c><00:42:07.160><c> hear</c> we go to our audience questions to hear we go to our audience questions to hear a<00:42:07.440><c> little</c><00:42:07.599><c> bit</c><00:42:07.800><c> more</c><00:42:08.240><c> about</c><00:42:08.480><c> the</c><00:42:08.640><c> Innovation</c>

42:09

a little bit more about the Innovation a little bit more about the Innovation Center<00:42:09.599><c> that</c><00:42:09.680><c> you</c><00:42:09.800><c> all</c><00:42:09.960><c> have</c> Center that you all have Center that you all have launched<00:42:12.079><c> yeah</c><00:42:12.240><c> so</c><00:42:12.440><c> in</c><00:42:12.720><c> in</c><00:42:12.880><c> September</c><00:42:13.520><c> of</c><00:42:13.800><c> 2023</c>

42:14

launched yeah so in in September of 2023 launched yeah so in in September of 2023 so<00:42:15.040><c> just</c><00:42:15.160><c> a</c><00:42:15.280><c> few</c><00:42:15.480><c> months</c><00:42:15.760><c> ago</c><00:42:16.680><c> Midwest</c><00:42:17.119><c> Bank</c>

42:17

so just a few months ago Midwest Bank so just a few months ago Midwest Bank Center<00:42:17.640><c> partnered</c><00:42:18.079><c> with</c><00:42:18.280><c> a</c><00:42:18.720><c> nonprofit</c><00:42:19.400><c> in</c>

42:19

Center partnered with a nonprofit in Center partnered with a nonprofit in North<00:42:19.839><c> County</c><00:42:20.160><c> St</c><00:42:20.680><c> Louis</c><00:42:21.680><c> that</c><00:42:21.880><c> was</c><00:42:22.200><c> that</c><00:42:22.319><c> had</c>

42:22

North County St Louis that was that had North County St Louis that was that had identified<00:42:22.960><c> a</c><00:42:23.160><c> blighted</c><00:42:23.680><c> property</c><00:42:24.000><c> it</c><00:42:24.119><c> was</c><00:42:24.240><c> an</c> identified a blighted property it was an identified a blighted property it was an abandoned<00:42:25.079><c> grocery</c><00:42:25.559><c> store</c><00:42:26.119><c> and</c><00:42:26.400><c> and</c><00:42:26.520><c> Retail</c>

42:26

abandoned grocery store and and Retail abandoned grocery store and and Retail Center<00:42:27.440><c> that</c><00:42:27.559><c> had</c><00:42:27.680><c> set</c><00:42:27.960><c> vacant</c><00:42:28.359><c> for</c><00:42:28.559><c> over</c><00:42:28.800><c> 20</c>

42:29

Center that had set vacant for over 20 Center that had set vacant for over 20 years<00:42:29.400><c> so</c><00:42:29.559><c> you</c><00:42:29.839><c> as</c><00:42:29.920><c> you</c><00:42:30.040><c> can</c><00:42:30.200><c> imagine</c><00:42:30.520><c> in</c><00:42:30.680><c> an</c> years so you as you can imagine in an years so you as you can imagine in an urban<00:42:31.079><c> setting</c><00:42:31.400><c> it</c><00:42:31.559><c> become</c><00:42:31.760><c> a</c><00:42:31.880><c> drug</c><00:42:32.160><c> Haven</c>

42:32

urban setting it become a drug Haven urban setting it become a drug Haven just<00:42:32.720><c> crime</c><00:42:33.240><c> ridden</c><00:42:34.240><c> uh</c><00:42:34.359><c> this</c><00:42:34.720><c> nonprofit</c><00:42:35.720><c> um</c>

42:36

just crime ridden uh this nonprofit um just crime ridden uh this nonprofit um took<00:42:36.480><c> this</c><00:42:36.720><c> property</c><00:42:37.559><c> uh</c><00:42:37.680><c> with</c><00:42:37.800><c> the</c><00:42:37.920><c> intention</c>

42:38

took this property uh with the intention took this property uh with the intention of<00:42:38.400><c> bringing</c><00:42:38.880><c> access</c><00:42:39.160><c> to</c><00:42:39.400><c> Services</c><00:42:40.240><c> kind</c><00:42:40.359><c> of</c>

42:40

of bringing access to Services kind of of bringing access to Services kind of left<00:42:40.760><c> it</c><00:42:40.920><c> at</c><00:42:41.160><c> that</c><00:42:42.040><c> and</c><00:42:42.440><c> determined</c><00:42:43.160><c> the</c><00:42:43.400><c> needs</c>

42:44

left it at that and determined the needs left it at that and determined the needs that<00:42:44.520><c> had</c><00:42:44.640><c> been</c><00:42:44.800><c> underserved</c><00:42:45.440><c> in</c><00:42:45.599><c> that</c> that had been underserved in that that had been underserved in that Community<00:42:46.400><c> for</c><00:42:46.800><c> for</c><00:42:47.119><c> decades</c><00:42:48.040><c> you</c><00:42:48.119><c> know</c><00:42:48.359><c> those</c>

42:48

Community for for decades you know those Community for for decades you know those those<00:42:48.760><c> needs</c><00:42:49.040><c> weren't</c><00:42:49.440><c> just</c><00:42:49.720><c> banking</c><00:42:50.200><c> of</c> those needs weren't just banking of those needs weren't just banking of course<00:42:50.880><c> uh</c><00:42:51.040><c> they</c><00:42:51.240><c> were</c><00:42:51.880><c> um</c><00:42:52.160><c> access</c><00:42:52.400><c> to</c>

42:52

course uh they were um access to course uh they were um access to Pharmaceuticals<00:42:53.480><c> so</c><00:42:53.640><c> the</c><00:42:53.800><c> pharmacy</c><00:42:54.240><c> is</c><00:42:54.440><c> now</c> Pharmaceuticals so the pharmacy is now Pharmaceuticals so the pharmacy is now open<00:42:54.920><c> there</c><00:42:55.520><c> access</c><00:42:55.800><c> to</c><00:42:56.079><c> job</c><00:42:56.280><c> training</c><00:42:56.680><c> and</c>

42:56

open there access to job training and open there access to job training and employ<00:42:57.319><c> m</c><00:42:57.440><c> center</c><00:42:57.720><c> is</c><00:42:57.920><c> now</c><00:42:58.240><c> there</c><00:42:58.800><c> small</c>

42:59

employ m center is now there small employ m center is now there small business<00:42:59.400><c> incubator</c><00:42:59.920><c> Center</c><00:43:00.280><c> that</c><00:43:00.520><c> most</c> business incubator Center that most business incubator Center that most affluent<00:43:01.319><c> communities</c><00:43:01.920><c> have</c><00:43:02.280><c> you</c><00:43:02.400><c> know</c><00:43:02.559><c> one</c>

43:02

affluent communities have you know one affluent communities have you know one after<00:43:03.040><c> the</c><00:43:03.240><c> next</c><00:43:04.240><c> of</c><00:43:04.400><c> course</c><00:43:04.599><c> this</c><00:43:04.720><c> community</c>

43:05

after the next of course this community after the next of course this community did<00:43:05.280><c> not</c><00:43:05.599><c> have</c><00:43:06.160><c> uh</c><00:43:06.400><c> such</c><00:43:06.680><c> such</c><00:43:06.880><c> an</c><00:43:07.359><c> such</c><00:43:07.520><c> an</c>

43:07

did not have uh such such an such an did not have uh such such an such an option<00:43:09.200><c> um</c><00:43:10.200><c> they</c><00:43:10.319><c> also</c><00:43:10.520><c> identified</c><00:43:11.000><c> the</c><00:43:11.079><c> need</c>

43:11

option um they also identified the need option um they also identified the need for<00:43:11.920><c> affordable</c><00:43:12.920><c> um</c><00:43:13.160><c> Early</c><00:43:13.440><c> Childhood</c><00:43:14.240><c> uh</c>

43:14

for affordable um Early Childhood uh for affordable um Early Childhood uh education<00:43:15.040><c> so</c><00:43:15.440><c> an</c><00:43:15.559><c> early</c><00:43:15.839><c> childhood</c><00:43:16.280><c> provider</c>

43:16

education so an early childhood provider education so an early childhood provider has<00:43:17.040><c> moved</c><00:43:17.359><c> in</c><00:43:18.359><c> and</c><00:43:18.520><c> and</c><00:43:18.640><c> of</c><00:43:18.800><c> course</c><00:43:19.000><c> we</c><00:43:19.200><c> we</c>

43:19

has moved in and and of course we we has moved in and and of course we we partnered<00:43:19.640><c> with</c><00:43:19.760><c> them</c><00:43:19.920><c> to</c><00:43:20.040><c> become</c><00:43:20.359><c> the</c> partnered with them to become the partnered with them to become the banking<00:43:21.160><c> uh</c><00:43:21.440><c> provider</c><00:43:22.440><c> and</c><00:43:22.800><c> as</c><00:43:22.920><c> far</c><00:43:23.079><c> as</c>

43:23

banking uh provider and as far as banking uh provider and as far as Innovation<00:43:23.880><c> goes</c><00:43:24.480><c> uh</c><00:43:24.800><c> we're</c><00:43:24.920><c> trying</c><00:43:25.240><c> new</c>

43:25

Innovation goes uh we're trying new Innovation goes uh we're trying new things<00:43:25.960><c> there</c><00:43:26.280><c> it's</c><00:43:26.400><c> a</c><00:43:26.599><c> it's</c><00:43:26.680><c> a</c><00:43:26.800><c> 1</c><00:43:27.119><c> th000</c><00:43:27.640><c> foot</c>

43:27

things there it's a it's a 1 th000 foot things there it's a it's a 1 th000 foot building<00:43:28.359><c> so</c><00:43:28.480><c> it's</c><00:43:28.599><c> not</c><00:43:28.720><c> an</c><00:43:28.880><c> ivory</c><00:43:29.200><c> Palace</c><00:43:29.520><c> by</c> building so it's not an ivory Palace by building so it's not an ivory Palace by any<00:43:29.800><c> stretch</c><00:43:30.040><c> of</c><00:43:30.160><c> the</c><00:43:30.359><c> imagination</c><00:43:31.359><c> but</c><00:43:31.520><c> we</c>

43:31

any stretch of the imagination but we any stretch of the imagination but we found<00:43:32.000><c> through</c><00:43:32.200><c> surveying</c><00:43:32.599><c> the</c><00:43:32.760><c> community</c> found through surveying the community found through surveying the community and<00:43:33.319><c> I</c><00:43:33.440><c> think</c><00:43:33.559><c> that's</c><00:43:33.720><c> an</c><00:43:33.880><c> important</c><00:43:34.440><c> point</c>

43:34

and I think that's an important point and I think that's an important point that<00:43:35.079><c> to</c><00:43:35.200><c> make</c><00:43:35.400><c> here</c><00:43:35.680><c> surveying</c><00:43:36.200><c> the</c> that to make here surveying the that to make here surveying the community<00:43:36.720><c> to</c><00:43:36.880><c> find</c><00:43:37.040><c> out</c><00:43:37.200><c> what</c><00:43:37.319><c> the</c><00:43:37.440><c> needs</c><00:43:37.680><c> of</c>

43:37

community to find out what the needs of community to find out what the needs of the<00:43:37.960><c> community</c><00:43:38.359><c> are</c><00:43:39.160><c> not</c><00:43:39.319><c> just</c><00:43:39.480><c> the</c><00:43:39.640><c> bank</c><00:43:39.880><c> that</c>

43:40

the community are not just the bank that the community are not just the bank that comes<00:43:40.240><c> in</c><00:43:40.480><c> with</c><00:43:40.599><c> a</c><00:43:40.839><c> product</c><00:43:41.200><c> offering</c><00:43:41.599><c> that</c> comes in with a product offering that comes in with a product offering that says<00:43:42.000><c> here's</c><00:43:42.200><c> what</c><00:43:42.359><c> you</c><00:43:42.480><c> need</c><00:43:42.720><c> that</c><00:43:42.839><c> often</c>

43:43

says here's what you need that often says here's what you need that often times<00:43:43.440><c> doesn't</c><00:43:43.800><c> work</c><00:43:44.640><c> so</c><00:43:44.800><c> we</c><00:43:44.960><c> spent</c><00:43:45.240><c> time</c>

43:45

times doesn't work so we spent time times doesn't work so we spent time serving<00:43:45.880><c> the</c><00:43:46.040><c> community</c><00:43:46.440><c> with</c><00:43:46.599><c> the</c><00:43:46.720><c> community</c> serving the community with the community serving the community with the community stakeholders<00:43:47.760><c> determining</c><00:43:48.319><c> what</c><00:43:48.480><c> their</c>

43:48

stakeholders determining what their stakeholders determining what their needs<00:43:49.040><c> were</c><00:43:50.040><c> and</c><00:43:50.200><c> we're</c><00:43:50.359><c> trying</c><00:43:50.680><c> things</c><00:43:50.920><c> out</c>

43:51

needs were and we're trying things out needs were and we're trying things out we're<00:43:51.520><c> failing</c><00:43:52.079><c> fast</c><00:43:52.400><c> if</c><00:43:52.520><c> the</c><00:43:52.680><c> hours</c><00:43:52.960><c> that</c> we're failing fast if the hours that we're failing fast if the hours that we're<00:43:53.359><c> providing</c><00:43:53.880><c> are</c><00:43:54.079><c> not</c><00:43:54.640><c> what</c><00:43:54.800><c> the</c>

43:54

we're providing are not what the we're providing are not what the community<00:43:55.319><c> needs</c><00:43:55.599><c> we're</c><00:43:55.800><c> shifting</c><00:43:56.240><c> we've</c> community needs we're shifting we've community needs we're shifting we've already<00:43:56.599><c> shifted</c><00:43:57.240><c> hours</c><00:43:57.559><c> once</c><00:43:57.920><c> it's</c><00:43:58.079><c> been</c><00:43:58.280><c> six</c>

43:58

already shifted hours once it's been six already shifted hours once it's been six months<00:43:59.400><c> we're</c><00:43:59.599><c> also</c><00:43:59.839><c> looking</c><00:44:00.079><c> at</c><00:44:00.240><c> what</c> months we're also looking at what months we're also looking at what product<00:44:00.720><c> needs</c><00:44:01.079><c> there</c><00:44:01.200><c> are</c><00:44:01.440><c> out</c><00:44:01.680><c> there</c><00:44:02.319><c> you</c>

44:02

product needs there are out there you product needs there are out there you know<00:44:02.599><c> within</c><00:44:03.119><c> within</c><00:44:03.480><c> five</c><00:44:03.760><c> miles</c><00:44:04.079><c> of</c><00:44:04.280><c> this</c>

44:04

know within within five miles of this know within within five miles of this location<00:44:05.079><c> there</c><00:44:05.160><c> were</c><00:44:05.359><c> 35</c><00:44:06.200><c> predatory</c><00:44:06.760><c> lending</c>

44:07

location there were 35 predatory lending location there were 35 predatory lending businesses<00:44:07.960><c> that</c><00:44:08.079><c> are</c><00:44:08.280><c> taking</c><00:44:08.640><c> away</c><00:44:08.960><c> as</c><00:44:09.119><c> Caleb</c>

44:09

businesses that are taking away as Caleb businesses that are taking away as Caleb said<00:44:09.599><c> earlier</c><00:44:10.000><c> just</c><00:44:10.200><c> taking</c><00:44:10.559><c> from</c><00:44:10.760><c> the</c> said earlier just taking from the said earlier just taking from the community<00:44:12.359><c> and</c><00:44:12.640><c> you</c><00:44:12.760><c> know</c><00:44:12.880><c> the</c><00:44:13.079><c> question</c><00:44:13.440><c> is</c>

44:13

community and you know the question is community and you know the question is why<00:44:13.920><c> do</c><00:44:14.119><c> people</c><00:44:14.359><c> go</c><00:44:14.640><c> to</c><00:44:15.240><c> predatory</c><00:44:15.760><c> lending</c>

44:16

why do people go to predatory lending why do people go to predatory lending businesses<00:44:17.160><c> you</c><00:44:17.240><c> know</c><00:44:17.520><c> I</c><00:44:17.599><c> think</c><00:44:17.760><c> the</c> businesses you know I think the businesses you know I think the assumption<00:44:18.400><c> would</c><00:44:18.599><c> be</c><00:44:18.839><c> or</c><00:44:18.960><c> at</c><00:44:19.079><c> least</c><00:44:19.280><c> my</c>

44:19

assumption would be or at least my assumption would be or at least my ignorance<00:44:19.920><c> at</c><00:44:20.079><c> that</c><00:44:20.280><c> time</c><00:44:20.480><c> would</c><00:44:20.640><c> have</c><00:44:20.800><c> been</c>

44:21

ignorance at that time would have been ignorance at that time would have been they<00:44:21.800><c> have</c><00:44:21.920><c> no</c><00:44:22.079><c> other</c><00:44:22.319><c> options</c><00:44:23.240><c> well</c><00:44:23.400><c> that's</c>

44:24

they have no other options well that's they have no other options well that's true<00:44:25.440><c> in</c><00:44:25.680><c> the</c><00:44:25.920><c> respect</c><00:44:26.280><c> that</c><00:44:26.440><c> there</c><00:44:26.520><c> aren't</c>

44:26

true in the respect that there aren't true in the respect that there aren't Bank<00:44:27.240><c> s</c><00:44:27.400><c> that</c><00:44:27.480><c> are</c><00:44:27.680><c> providing</c><00:44:28.119><c> that</c><00:44:28.319><c> type</c><00:44:28.520><c> of</c>

44:28

Bank s that are providing that type of Bank s that are providing that type of product<00:44:29.160><c> offering</c><00:44:29.559><c> that</c><00:44:29.760><c> that</c><00:44:30.040><c> that</c><00:44:30.160><c> can</c><00:44:30.319><c> get</c> product offering that that that can get product offering that that that can get cash<00:44:30.760><c> in</c><00:44:30.920><c> their</c><00:44:31.119><c> pockets</c><00:44:31.559><c> quickly</c><00:44:32.000><c> one</c>

44:32

cash in their pockets quickly one cash in their pockets quickly one example<00:44:32.599><c> of</c><00:44:33.040><c> a</c><00:44:33.160><c> lady</c><00:44:33.440><c> that</c><00:44:33.599><c> provided</c><00:44:33.920><c> a</c> example of a lady that provided a example of a lady that provided a response<00:44:34.680><c> was</c><00:44:35.640><c> I</c><00:44:35.720><c> had</c><00:44:35.839><c> a</c><00:44:35.880><c> $500</c><00:44:36.640><c> need</c><00:44:36.960><c> because</c>

44:37

response was I had a $500 need because response was I had a $500 need because the<00:44:37.359><c> transmission</c><00:44:37.839><c> in</c><00:44:37.960><c> my</c><00:44:38.160><c> vehicle</c><00:44:38.440><c> went</c><00:44:38.599><c> out</c> the transmission in my vehicle went out the transmission in my vehicle went out I<00:44:38.960><c> needed</c><00:44:39.400><c> cash</c><00:44:39.680><c> to</c><00:44:39.839><c> get</c><00:44:40.040><c> my</c><00:44:40.200><c> transmission</c>

44:40

I needed cash to get my transmission I needed cash to get my transmission fixed<00:44:41.079><c> to</c><00:44:41.200><c> go</c><00:44:41.400><c> back</c><00:44:41.520><c> to</c><00:44:41.720><c> work</c><00:44:42.480><c> Banks</c><00:44:42.760><c> would</c>

44:42

fixed to go back to work Banks would fixed to go back to work Banks would have<00:44:43.079><c> taken</c><00:44:43.440><c> too</c><00:44:43.680><c> long</c><00:44:44.520><c> banks</c><00:44:44.800><c> are</c><00:44:44.920><c> not</c>

44:45

have taken too long banks are not have taken too long banks are not approachable<00:44:45.680><c> at</c><00:44:45.800><c> the</c><00:44:45.960><c> time</c><00:44:46.160><c> in</c><00:44:46.319><c> her</c><00:44:46.559><c> opinion</c>

44:47

approachable at the time in her opinion approachable at the time in her opinion and<00:44:47.640><c> she's</c><00:44:47.920><c> probably</c><00:44:48.359><c> right</c><00:44:49.240><c> so</c><00:44:49.440><c> Our</c>

44:49

and she's probably right so Our and she's probably right so Our intention<00:44:50.079><c> there</c><00:44:50.240><c> is</c><00:44:50.400><c> to</c><00:44:50.800><c> have</c><00:44:50.920><c> a</c><00:44:51.119><c> very</c><00:44:51.319><c> small</c>

44:51

intention there is to have a very small intention there is to have a very small footprint<00:44:52.400><c> one</c><00:44:52.599><c> that's</c><00:44:52.839><c> welcoming</c><00:44:53.400><c> when</c><00:44:53.559><c> the</c>

44:53

footprint one that's welcoming when the footprint one that's welcoming when the customer<00:44:54.079><c> walks</c><00:44:54.400><c> in</c><00:44:55.359><c> we</c><00:44:55.559><c> have</c><00:44:55.760><c> rolled</c><00:44:56.079><c> out</c><00:44:56.359><c> a</c>

44:56

customer walks in we have rolled out a customer walks in we have rolled out a predatory<00:44:57.160><c> lending</c><00:44:57.480><c> payday</c><00:44:57.839><c> alternative</c> predatory lending payday alternative predatory lending payday alternative product<00:44:58.880><c> that</c><00:44:59.000><c> tries</c><00:44:59.240><c> to</c><00:44:59.440><c> compete</c><00:44:59.800><c> with</c><00:44:59.960><c> the</c>

45:00

product that tries to compete with the product that tries to compete with the 400%<00:45:01.000><c> interest</c><00:45:01.359><c> rates</c><00:45:01.720><c> and</c><00:45:01.920><c> fees</c><00:45:02.359><c> that</c><00:45:02.520><c> Caleb</c>

45:02

400% interest rates and fees that Caleb 400% interest rates and fees that Caleb mentioned<00:45:03.280><c> earlier</c><00:45:04.280><c> and</c><00:45:04.400><c> we're</c><00:45:04.599><c> trying</c><00:45:04.839><c> it</c>

45:04

mentioned earlier and we're trying it mentioned earlier and we're trying it out<00:45:05.559><c> it</c><00:45:05.680><c> might</c><00:45:05.880><c> work</c><00:45:06.160><c> it</c><00:45:06.319><c> might</c><00:45:06.520><c> not</c><00:45:07.160><c> but</c>

45:07

out it might work it might not but out it might work it might not but unless<00:45:07.800><c> we</c><00:45:07.920><c> do</c><00:45:08.160><c> something</c><00:45:08.520><c> different</c><00:45:09.160><c> nothing</c> unless we do something different nothing unless we do something different nothing changes<00:45:09.920><c> in</c><00:45:10.119><c> these</c><00:45:10.319><c> communities</c><00:45:11.280><c> so</c><00:45:11.480><c> that's</c>

45:11

changes in these communities so that's changes in these communities so that's one<00:45:11.760><c> of</c><00:45:11.880><c> the</c><00:45:12.000><c> elements</c><00:45:12.319><c> of</c><00:45:12.440><c> innovation</c><00:45:12.920><c> that</c> one of the elements of innovation that one of the elements of innovation that we're<00:45:13.200><c> trying</c><00:45:13.480><c> is</c><00:45:13.680><c> new</c><00:45:13.960><c> product</c><00:45:14.280><c> offerings</c>

45:14

we're trying is new product offerings we're trying is new product offerings and<00:45:14.880><c> not</c><00:45:15.040><c> just</c><00:45:15.200><c> offering</c><00:45:15.559><c> the</c><00:45:15.720><c> affluent</c> and not just offering the affluent and not just offering the affluent client<00:45:16.800><c> products</c><00:45:17.200><c> that</c><00:45:17.319><c> we</c><00:45:17.440><c> have</c><00:45:17.559><c> in</c><00:45:17.720><c> other</c>

45:17

client products that we have in other client products that we have in other markets<00:45:18.680><c> but</c><00:45:18.800><c> trying</c><00:45:19.040><c> to</c><00:45:19.160><c> be</c><00:45:19.319><c> customized</c><00:45:19.920><c> to</c>

45:20

markets but trying to be customized to markets but trying to be customized to solve<00:45:20.400><c> for</c><00:45:20.599><c> the</c><00:45:20.680><c> needs</c><00:45:21.040><c> of</c><00:45:21.280><c> of</c><00:45:21.400><c> all</c> solve for the needs of of all solve for the needs of of all communities<00:45:22.960><c> and</c><00:45:23.079><c> then</c><00:45:23.240><c> as</c><00:45:23.960><c> as</c><00:45:24.079><c> it</c><00:45:24.200><c> relates</c><00:45:24.480><c> to</c>

45:24

communities and then as as it relates to communities and then as as it relates to technology<00:45:25.800><c> uh</c><00:45:25.920><c> We've</c><00:45:26.119><c> installed</c><00:45:26.520><c> our</c><00:45:26.640><c> first</c>

45:27

technology uh We've installed our first technology uh We've installed our first itm<00:45:28.000><c> with</c><00:45:28.280><c> the</c><00:45:28.440><c> intention</c><00:45:28.960><c> of</c><00:45:29.160><c> making</c><00:45:29.440><c> this</c><00:45:29.599><c> a</c>

45:29

itm with the intention of making this a itm with the intention of making this a cashless<00:45:30.839><c> Branch</c><00:45:31.839><c> the</c><00:45:32.079><c> obvious</c><00:45:32.520><c> reason</c>

45:32

cashless Branch the obvious reason cashless Branch the obvious reason behind<00:45:33.160><c> a</c><00:45:33.359><c> cashless</c><00:45:33.880><c> Branch</c><00:45:34.280><c> opportunity</c><00:45:34.800><c> is</c>

45:35

behind a cashless Branch opportunity is behind a cashless Branch opportunity is safety<00:45:35.359><c> and</c><00:45:35.520><c> soundness</c><00:45:36.000><c> and</c><00:45:36.200><c> security</c><00:45:36.520><c> for</c> safety and soundness and security for safety and soundness and security for our<00:45:36.880><c> customers</c><00:45:37.280><c> that</c><00:45:37.440><c> use</c><00:45:37.640><c> it</c><00:45:38.160><c> and</c><00:45:38.280><c> for</c><00:45:38.440><c> the</c>

45:38

our customers that use it and for the our customers that use it and for the employees<00:45:39.040><c> that</c><00:45:39.160><c> we</c><00:45:39.319><c> have</c><00:45:39.839><c> there</c><00:45:40.839><c> but</c><00:45:41.040><c> also</c>

45:41

employees that we have there but also employees that we have there but also we're<00:45:41.680><c> trying</c><00:45:41.960><c> to</c><00:45:42.119><c> test</c><00:45:42.440><c> the</c><00:45:42.559><c> market</c><00:45:42.960><c> to</c><00:45:43.119><c> see</c>

45:43

we're trying to test the market to see we're trying to test the market to see if<00:45:43.960><c> all</c><00:45:44.280><c> communities</c><00:45:45.200><c> have</c><00:45:45.480><c> the</c><00:45:46.319><c> have</c><00:45:46.480><c> the</c>

45:46

if all communities have the have the if all communities have the have the desires<00:45:47.319><c> to</c><00:45:48.079><c> uh</c><00:45:48.200><c> to</c><00:45:48.400><c> interact</c><00:45:49.240><c> digitally</c><00:45:50.240><c> and</c>

45:50

desires to uh to interact digitally and desires to uh to interact digitally and we're<00:45:50.599><c> testing</c><00:45:51.040><c> this</c><00:45:51.200><c> Market</c><00:45:51.720><c> again</c><00:45:52.040><c> this</c><00:45:52.200><c> may</c> we're testing this Market again this may we're testing this Market again this may work<00:45:52.599><c> this</c><00:45:52.760><c> may</c><00:45:52.920><c> not</c><00:45:53.119><c> but</c><00:45:53.200><c> we're</c><00:45:53.839><c> trying</c><00:45:54.839><c> it</c>

45:54

work this may not but we're trying it work this may not but we're trying it goes<00:45:55.240><c> back</c><00:45:55.359><c> to</c><00:45:55.599><c> I</c><00:45:55.720><c> think</c><00:45:56.119><c> Mike</c><00:45:56.319><c> made</c><00:45:56.440><c> a</c><00:45:56.559><c> good</c> goes back to I think Mike made a good goes back to I think Mike made a good point<00:45:57.040><c> earlier</c><00:45:57.359><c> about</c><00:45:57.680><c> about</c><00:45:57.839><c> their</c><00:45:58.000><c> mobile</c>

45:58

point earlier about about their mobile point earlier about about their mobile banking<00:45:58.760><c> location</c><00:45:59.599><c> you</c><00:45:59.720><c> know</c><00:45:59.880><c> the</c> banking location you know the banking location you know the opportunity<00:46:00.480><c> to</c><00:46:00.680><c> bring</c><00:46:01.000><c> a</c><00:46:01.319><c> mobile</c><00:46:02.079><c> location</c>

46:03

opportunity to bring a mobile location opportunity to bring a mobile location uh<00:46:03.160><c> to</c><00:46:03.319><c> underserved</c><00:46:04.119><c> communities</c><00:46:05.119><c> um</c><00:46:06.119><c> it's</c><00:46:06.440><c> h</c>

46:06

uh to underserved communities um it's h uh to underserved communities um it's h it's<00:46:06.760><c> novel</c><00:46:07.240><c> and</c><00:46:07.359><c> I</c><00:46:07.480><c> think</c><00:46:07.839><c> it's</c><00:46:08.000><c> something</c> it's novel and I think it's something it's novel and I think it's something that<00:46:08.760><c> uh</c><00:46:08.839><c> if</c><00:46:09.000><c> banks</c><00:46:09.319><c> start</c><00:46:09.599><c> doing</c><00:46:09.920><c> some</c><00:46:10.440><c> doing</c>

46:10

that uh if banks start doing some doing that uh if banks start doing some doing things<00:46:10.920><c> a</c><00:46:11.079><c> little</c><00:46:11.280><c> bit</c><00:46:11.559><c> differently</c><00:46:12.559><c> change</c>

46:12

things a little bit differently change things a little bit differently change can can can be<00:46:15.000><c> I</c><00:46:15.400><c> what</c><00:46:15.520><c> I</c><00:46:15.640><c> hear</c><00:46:15.920><c> is</c><00:46:16.079><c> you're</c><00:46:16.839><c> not</c><00:46:17.000><c> only</c>

46:17

be I what I hear is you're not only be I what I hear is you're not only engaging<00:46:17.839><c> Community</c><00:46:18.440><c> but</c><00:46:18.559><c> you're</c><00:46:18.920><c> taking</c><00:46:19.200><c> a</c>

46:19

engaging Community but you're taking a engaging Community but you're taking a risk<00:46:19.640><c> you're</c><00:46:19.880><c> testing</c><00:46:20.480><c> you're</c><00:46:20.800><c> you're</c><00:46:21.000><c> going</c> risk you're testing you're you're going risk you're testing you're you're going into<00:46:21.440><c> phases</c><00:46:21.720><c> where</c><00:46:21.839><c> you're</c><00:46:21.960><c> testing</c><00:46:22.280><c> seeing</c>

46:22

into phases where you're testing seeing into phases where you're testing seeing what<00:46:22.760><c> works</c><00:46:23.119><c> is</c><00:46:23.440><c> and</c><00:46:23.559><c> engaging</c><00:46:24.040><c> the</c><00:46:24.160><c> community</c>

46:24

what works is and engaging the community what works is and engaging the community around<00:46:25.000><c> that</c><00:46:25.640><c> and</c><00:46:25.800><c> and</c><00:46:26.040><c> that</c><00:46:26.200><c> is</c><00:46:26.520><c> really</c><00:46:27.200><c> uh</c>

46:27

around that and and that is really uh around that and and that is really uh novel<00:46:27.880><c> Miguel</c><00:46:28.200><c> you've</c><00:46:28.440><c> got</c><00:46:28.599><c> something</c><00:46:29.240><c> yeah</c>

46:29

novel Miguel you've got something yeah novel Miguel you've got something yeah Wes<00:46:30.040><c> I</c><00:46:30.160><c> commend</c><00:46:30.440><c> you</c><00:46:30.559><c> for</c><00:46:30.720><c> that</c><00:46:30.880><c> that's</c><00:46:30.960><c> a</c> Wes I commend you for that that's a Wes I commend you for that that's a great<00:46:31.440><c> opportunity</c><00:46:32.000><c> you</c><00:46:32.119><c> know</c><00:46:32.280><c> when</c><00:46:32.359><c> you</c>

46:32

great opportunity you know when you great opportunity you know when you think<00:46:32.680><c> of</c><00:46:32.920><c> when</c><00:46:33.040><c> you</c><00:46:33.160><c> hear</c><00:46:33.359><c> the</c><00:46:33.520><c> statistics</c><00:46:33.960><c> of</c> think of when you hear the statistics of think of when you hear the statistics of payday<00:46:34.440><c> lenders</c><00:46:34.760><c> and</c><00:46:34.880><c> you</c><00:46:34.960><c> hear</c><00:46:35.160><c> that</c>

46:35

payday lenders and you hear that payday lenders and you hear that interest<00:46:35.640><c> rate</c><00:46:36.440><c> it's</c><00:46:36.640><c> easy</c><00:46:36.880><c> to</c><00:46:37.040><c> think</c><00:46:37.280><c> who</c>

46:37

interest rate it's easy to think who interest rate it's easy to think who would<00:46:37.640><c> be</c><00:46:37.960><c> you</c><00:46:38.079><c> know</c><00:46:38.319><c> crazy</c><00:46:38.680><c> enough</c><00:46:38.880><c> to</c><00:46:39.040><c> take</c> would be you know crazy enough to take would be you know crazy enough to take that<00:46:39.599><c> but</c><00:46:40.079><c> you</c><00:46:40.240><c> really</c><00:46:40.520><c> have</c><00:46:40.640><c> to</c><00:46:40.800><c> empathize</c>

46:41

that but you really have to empathize that but you really have to empathize with<00:46:41.400><c> the</c><00:46:41.480><c> folks</c><00:46:41.720><c> in</c><00:46:41.880><c> those</c><00:46:42.079><c> situations</c><00:46:42.680><c> and</c> with the folks in those situations and with the folks in those situations and and<00:46:43.160><c> realize</c><00:46:44.160><c> why</c><00:46:44.280><c> are</c><00:46:44.440><c> they</c><00:46:44.599><c> doing</c><00:46:44.880><c> that</c><00:46:45.119><c> well</c>

46:45

and realize why are they doing that well and realize why are they doing that well probably<00:46:45.680><c> they</c><00:46:45.800><c> have</c><00:46:45.920><c> an</c><00:46:46.079><c> emergency</c><00:46:46.640><c> and</c> probably they have an emergency and probably they have an emergency and that's<00:46:46.920><c> their</c><00:46:47.160><c> only</c><00:46:47.880><c> chance</c><00:46:48.880><c> and</c><00:46:49.119><c> you</c><00:46:49.240><c> know</c>

46:49

that's their only chance and you know that's their only chance and you know for<00:46:49.599><c> us</c><00:46:49.800><c> in</c><00:46:49.960><c> Clark</c><00:46:50.280><c> still</c><00:46:50.480><c> Mississippi</c>

46:51

for us in Clark still Mississippi for us in Clark still Mississippi there's<00:46:51.680><c> 12</c><00:46:52.079><c> payday</c><00:46:52.440><c> lenders</c><00:46:52.760><c> in</c><00:46:52.920><c> a</c><00:46:53.040><c> on</c><00:46:53.240><c> mile</c>

46:53

there's 12 payday lenders in a on mile there's 12 payday lenders in a on mile radius<00:46:53.839><c> from</c><00:46:53.960><c> our</c><00:46:54.160><c> Branch</c><00:46:54.880><c> so</c><00:46:55.119><c> from</c><00:46:55.280><c> an</c> radius from our Branch so from an radius from our Branch so from an Innovations<00:46:56.000><c> temple</c><00:46:56.359><c> one</c><00:46:56.440><c> of</c><00:46:56.480><c> the</c><00:46:56.559><c> things</c>

46:56

Innovations temple one of the things Innovations temple one of the things we're<00:46:57.079><c> focusing</c><00:46:57.520><c> on</c><00:46:57.800><c> is</c><00:46:57.960><c> how</c><00:46:58.079><c> do</c><00:46:58.200><c> we</c><00:46:58.440><c> compete</c> we're focusing on is how do we compete we're focusing on is how do we compete with<00:46:59.000><c> them</c><00:46:59.480><c> in</c><00:46:59.599><c> a</c><00:46:59.839><c> responsive</c><00:47:00.359><c> and</c><00:47:00.520><c> a</c><00:47:00.640><c> reactive</c>

47:01

with them in a responsive and a reactive with them in a responsive and a reactive way<00:47:01.720><c> so</c><00:47:01.880><c> one</c><00:47:02.000><c> of</c><00:47:02.119><c> our</c><00:47:02.280><c> initiatives</c><00:47:02.760><c> right</c><00:47:02.880><c> now</c> way so one of our initiatives right now way so one of our initiatives right now is<00:47:03.200><c> a</c><00:47:03.359><c> money</c><00:47:03.599><c> on</c><00:47:03.839><c> demand</c><00:47:04.400><c> digital</c><00:47:04.920><c> app</c>

47:05

is a money on demand digital app is a money on demand digital app platform<00:47:06.200><c> where</c><00:47:06.800><c> we</c><00:47:06.920><c> want</c><00:47:07.040><c> to</c><00:47:07.240><c> compete</c><00:47:07.559><c> with</c>

47:07

platform where we want to compete with platform where we want to compete with those<00:47:07.839><c> paid</c><00:47:08.040><c> in</c><00:47:08.200><c> lenders</c><00:47:08.680><c> in</c><00:47:08.800><c> a</c><00:47:09.000><c> more</c> those paid in lenders in a more those paid in lenders in a more sustainable<00:47:10.079><c> way</c><00:47:10.800><c> because</c><00:47:11.200><c> going</c><00:47:11.480><c> back</c><00:47:11.640><c> to</c>

47:11

sustainable way because going back to sustainable way because going back to the<00:47:12.440><c> what</c><00:47:12.599><c> you're</c><00:47:12.880><c> competing</c><00:47:13.280><c> with</c><00:47:13.480><c> you're</c> the what you're competing with you're the what you're competing with you're competing<00:47:14.000><c> with</c><00:47:14.160><c> folks</c><00:47:14.640><c> you</c><00:47:14.800><c> know</c><00:47:15.760><c> who</c><00:47:16.319><c> I</c><00:47:16.440><c> read</c>

47:16

competing with folks you know who I read competing with folks you know who I read a<00:47:16.800><c> statistic</c><00:47:17.200><c> once</c><00:47:17.480><c> that</c><00:47:18.160><c> half</c><00:47:18.319><c> of</c><00:47:18.520><c> Americans</c>

47:18

a statistic once that half of Americans a statistic once that half of Americans are<00:47:19.079><c> a</c><00:47:19.119><c> $400</c><00:47:19.880><c> emergency</c><00:47:20.400><c> away</c><00:47:20.640><c> from</c> are a $400 emergency away from are a $400 emergency away from bankruptcy<00:47:21.880><c> right</c><00:47:22.680><c> and</c><00:47:23.200><c> when</c><00:47:23.400><c> that</c><00:47:23.559><c> happens</c>

47:23

bankruptcy right and when that happens bankruptcy right and when that happens to<00:47:24.040><c> someone</c><00:47:24.520><c> and</c><00:47:24.680><c> the</c><00:47:24.800><c> only</c><00:47:25.079><c> person</c><00:47:25.319><c> in</c><00:47:25.480><c> town</c> to someone and the only person in town to someone and the only person in town is<00:47:25.839><c> one</c><00:47:25.960><c> of</c><00:47:26.040><c> those</c><00:47:26.200><c> 12</c><00:47:26.440><c> payday</c><00:47:27.079><c> that</c><00:47:27.200><c> say</c><00:47:27.400><c> yeah</c>

47:27

is one of those 12 payday that say yeah is one of those 12 payday that say yeah we'll<00:47:27.680><c> give</c><00:47:27.760><c> you</c><00:47:27.800><c> $400</c><00:47:28.440><c> right</c><00:47:28.559><c> now</c><00:47:28.720><c> out</c><00:47:28.880><c> the</c> we'll give you $400 right now out the we'll give you $400 right now out the door<00:47:29.720><c> we</c><00:47:29.920><c> as</c><00:47:30.119><c> Banks</c><00:47:30.440><c> can't</c><00:47:30.640><c> sit</c><00:47:30.800><c> on</c><00:47:30.920><c> the</c>

47:31

door we as Banks can't sit on the door we as Banks can't sit on the sideline<00:47:31.480><c> and</c><00:47:31.680><c> say</c><00:47:32.319><c> well</c><00:47:32.559><c> why</c><00:47:32.640><c> are</c><00:47:32.839><c> people</c>

47:33

sideline and say well why are people sideline and say well why are people taking<00:47:33.400><c> this</c><00:47:33.559><c> High</c><00:47:33.839><c> expensive</c><00:47:34.280><c> money</c><00:47:34.880><c> we</c><00:47:35.000><c> got</c>

47:35

taking this High expensive money we got taking this High expensive money we got to<00:47:35.200><c> be</c><00:47:35.319><c> part</c><00:47:35.480><c> of</c><00:47:35.559><c> the</c><00:47:35.680><c> solution</c><00:47:36.040><c> and</c><00:47:36.200><c> not</c><00:47:36.400><c> part</c> to be part of the solution and not part to be part of the solution and not part of<00:47:36.640><c> the</c>

47:37

of the of the problem<00:47:38.880><c> thanks</c><00:47:39.480><c> Miguel</c><00:47:40.480><c> uh</c><00:47:40.720><c> so</c><00:47:41.200><c> I've</c><00:47:41.400><c> got</c><00:47:41.559><c> a</c>

47:41

problem thanks Miguel uh so I've got a problem thanks Miguel uh so I've got a question<00:47:42.119><c> from</c><00:47:42.280><c> our</c><00:47:42.599><c> audience</c><00:47:43.599><c> and</c><00:47:43.760><c> it's</c>

47:44

question from our audience and it's question from our audience and it's about<00:47:44.520><c> just</c><00:47:44.680><c> the</c><00:47:44.920><c> relationship</c><00:47:45.599><c> with</c><00:47:45.720><c> your</c> about just the relationship with your about just the relationship with your customers<00:47:46.640><c> because</c><00:47:46.839><c> you</c><00:47:47.000><c> all</c><00:47:47.440><c> seem</c><00:47:47.680><c> to</c><00:47:47.839><c> have</c>

47:47

customers because you all seem to have customers because you all seem to have really<00:47:48.240><c> built</c><00:47:48.760><c> strong</c><00:47:48.960><c> relationships</c> really built strong relationships really built strong relationships between<00:47:49.839><c> those</c><00:47:50.040><c> consumers</c><00:47:50.440><c> who</c><00:47:50.559><c> are</c>

47:50

between those consumers who are between those consumers who are utilizing<00:47:51.160><c> your</c><00:47:51.319><c> branches</c><00:47:52.319><c> so</c><00:47:52.599><c> how</c><00:47:52.760><c> does</c><00:47:53.000><c> the</c>

47:53

utilizing your branches so how does the utilizing your branches so how does the branch<00:47:53.480><c> relationship</c><00:47:54.040><c> hold</c><00:47:54.280><c> up</c><00:47:54.680><c> when</c><00:47:54.839><c> a</c> branch relationship hold up when a branch relationship hold up when a customer<00:47:55.440><c> moves</c><00:47:55.760><c> away</c><00:47:56.079><c> from</c><00:47:56.240><c> your</c><00:47:56.400><c> Market</c>

47:57

customer moves away from your Market customer moves away from your Market do<00:47:57.599><c> they</c><00:47:57.760><c> still</c><00:47:58.040><c> reach</c><00:47:58.240><c> out</c><00:47:58.440><c> to</c><00:47:58.559><c> you</c><00:47:58.680><c> for</c> do they still reach out to you for do they still reach out to you for Capital<00:47:59.359><c> needs</c><00:47:59.800><c> when</c><00:47:59.960><c> they're</c><00:48:00.160><c> outside</c><00:48:00.559><c> of</c>

48:00

Capital needs when they're outside of Capital needs when they're outside of your<00:48:00.920><c> market</c><00:48:01.680><c> so</c><00:48:01.920><c> I'll</c><00:48:02.079><c> open</c><00:48:02.400><c> up</c><00:48:02.599><c> to</c><00:48:02.880><c> anyone</c>

48:03

your market so I'll open up to anyone your market so I'll open up to anyone who<00:48:03.240><c> wants</c><00:48:03.440><c> to</c><00:48:03.640><c> jump</c>

48:10

in Mike you look like you I would say I in Mike you look like you I would say I mean<00:48:11.520><c> we</c><00:48:12.520><c> we're</c><00:48:12.720><c> in</c><00:48:12.839><c> a</c><00:48:12.960><c> situation</c><00:48:13.280><c> where</c><00:48:13.400><c> we're</c>

48:13

mean we we're in a situation where we're mean we we're in a situation where we're kind<00:48:13.640><c> of</c><00:48:13.720><c> growing</c><00:48:14.000><c> we're</c><00:48:14.160><c> like</c><00:48:14.319><c> seven</c><00:48:14.599><c> years</c> kind of growing we're like seven years kind of growing we're like seven years in<00:48:15.000><c> this</c><00:48:15.160><c> market</c><00:48:15.480><c> so</c><00:48:15.640><c> we're</c><00:48:15.800><c> still</c><00:48:16.160><c> growing</c>

48:17

in this market so we're still growing in this market so we're still growing but<00:48:17.280><c> in</c><00:48:17.440><c> my</c><00:48:17.680><c> prior</c><00:48:18.079><c> life</c><00:48:18.559><c> yeah</c><00:48:18.800><c> I</c><00:48:18.839><c> mean</c><00:48:19.640><c> if</c>

48:20

but in my prior life yeah I mean if but in my prior life yeah I mean if people<00:48:20.359><c> bank</c><00:48:20.599><c> with</c><00:48:20.839><c> people</c><00:48:21.400><c> so</c><00:48:21.880><c> I</c><00:48:22.240><c> if</c><00:48:22.480><c> there</c><00:48:22.800><c> is</c>

48:23

people bank with people so I if there is people bank with people so I if there is uh<00:48:23.720><c> a</c><00:48:23.920><c> situation</c><00:48:24.520><c> where</c><00:48:24.800><c> some</c><00:48:25.200><c> uh</c><00:48:25.359><c> in</c><00:48:25.480><c> this</c>

48:25

uh a situation where some uh in this uh a situation where some uh in this mobile<00:48:26.000><c> Society</c><00:48:26.359><c> especially</c><00:48:26.800><c> you're</c><00:48:26.920><c> looking</c> mobile Society especially you're looking mobile Society especially you're looking for<00:48:27.240><c> a</c><00:48:27.319><c> larger</c><00:48:27.800><c> Regional</c><00:48:28.319><c> or</c><00:48:28.760><c> National</c><00:48:29.280><c> Bank</c>

48:30

for a larger Regional or National Bank for a larger Regional or National Bank you<00:48:30.280><c> know</c><00:48:30.800><c> you</c><00:48:30.920><c> could</c><00:48:31.119><c> live</c><00:48:31.319><c> in</c><00:48:31.920><c> um</c><00:48:32.160><c> you</c><00:48:32.280><c> know</c>

48:32

you know you could live in um you know you know you could live in um you know Seattle<00:48:33.000><c> Washington</c><00:48:33.920><c> and</c><00:48:34.160><c> live</c><00:48:34.400><c> in</c><00:48:34.960><c> uh</c>

48:35

Seattle Washington and live in uh Seattle Washington and live in uh Florida<00:48:35.520><c> in</c><00:48:35.599><c> the</c><00:48:35.960><c> in</c><00:48:36.040><c> the</c><00:48:36.119><c> winter</c><00:48:36.400><c> months</c><00:48:36.800><c> and</c>

48:37

Florida in the in the winter months and Florida in the in the winter months and you<00:48:37.359><c> can</c><00:48:37.520><c> still</c><00:48:37.680><c> deal</c><00:48:37.880><c> with</c><00:48:37.960><c> your</c><00:48:38.119><c> Banker</c><00:48:38.440><c> up</c> you can still deal with your Banker up you can still deal with your Banker up in<00:48:38.760><c> Seattle</c><00:48:39.480><c> uh</c><00:48:39.760><c> with</c><00:48:40.200><c> uh</c><00:48:40.640><c> Bank</c><00:48:40.960><c> Technologies</c>

48:41

in Seattle uh with uh Bank Technologies in Seattle uh with uh Bank Technologies these<00:48:41.800><c> days</c><00:48:42.200><c> but</c><00:48:42.800><c> so</c><00:48:43.079><c> I</c><00:48:43.200><c> still</c><00:48:43.359><c> think</c><00:48:43.559><c> people</c>

48:43

these days but so I still think people these days but so I still think people stay<00:48:44.040><c> connected</c><00:48:44.640><c> but</c><00:48:45.240><c> yeah</c><00:48:45.400><c> the</c><00:48:45.520><c> people</c><00:48:45.680><c> that</c>

48:45

stay connected but yeah the people that stay connected but yeah the people that tend<00:48:45.960><c> to</c><00:48:46.079><c> rely</c><00:48:46.319><c> on</c><00:48:46.480><c> branches</c><00:48:46.960><c> like</c><00:48:47.680><c> they</c><00:48:47.800><c> Bank</c>

48:48

tend to rely on branches like they Bank tend to rely on branches like they Bank there<00:48:48.240><c> for</c><00:48:48.359><c> a</c><00:48:48.520><c> reason</c><00:48:48.920><c> like</c><00:48:49.440><c> uh</c><00:48:49.640><c> they</c><00:48:49.799><c> Bank</c> there for a reason like uh they Bank there for a reason like uh they Bank there<00:48:50.280><c> because</c><00:48:50.520><c> they</c><00:48:50.760><c> that's</c><00:48:50.920><c> where</c><00:48:51.079><c> their</c>

48:51

there because they that's where their there because they that's where their people<00:48:51.520><c> are</c><00:48:51.839><c> that's</c><00:48:52.000><c> where</c><00:48:52.160><c> their</c><00:48:52.359><c> person</c><00:48:52.720><c> is</c> people are that's where their person is people are that's where their person is and<00:48:53.839><c> um</c><00:48:54.040><c> for</c><00:48:54.240><c> somebody</c><00:48:54.520><c> that's</c><00:48:54.680><c> gone</c><00:48:54.880><c> through</c>

48:55

and um for somebody that's gone through and um for somebody that's gone through a<00:48:55.119><c> number</c><00:48:55.319><c> of</c><00:48:55.440><c> mergers</c><00:48:56.319><c> in</c><00:48:56.520><c> West</c><00:48:56.960><c> New</c><00:48:57.079><c> York</c>

48:57

a number of mergers in West New York a number of mergers in West New York over<00:48:57.400><c> the</c><00:48:57.559><c> last</c><00:48:57.760><c> 15</c><00:48:58.079><c> years</c><00:48:58.240><c> in</c><00:48:58.400><c> this</c><00:48:58.559><c> banking</c> over the last 15 years in this banking over the last 15 years in this banking environment<00:49:00.240><c> um</c><00:49:00.680><c> you</c><00:49:00.799><c> know</c><00:49:01.520><c> you</c><00:49:01.640><c> don't</c><00:49:01.799><c> see</c><00:49:01.960><c> a</c>

49:02

environment um you know you don't see a environment um you know you don't see a lot<00:49:02.200><c> of</c><00:49:02.400><c> people</c><00:49:02.680><c> moving</c><00:49:03.319><c> from</c><00:49:04.319><c> uh</c><00:49:04.599><c> different</c>

49:05

lot of people moving from uh different lot of people moving from uh different uh<00:49:05.559><c> Banks</c><00:49:06.160><c> because</c><00:49:06.720><c> of</c><00:49:07.200><c> just</c><00:49:07.400><c> what</c><00:49:07.559><c> the</c><00:49:07.680><c> name</c>

49:07

uh Banks because of just what the name uh Banks because of just what the name of<00:49:08.000><c> the</c><00:49:08.119><c> bank</c><00:49:08.400><c> is</c><00:49:08.559><c> on</c><00:49:09.040><c> on</c><00:49:09.200><c> the</c><00:49:09.280><c> front</c><00:49:09.480><c> of</c><00:49:09.599><c> the</c> of the bank is on on the front of the of the bank is on on the front of the building<00:49:10.119><c> they</c><00:49:10.280><c> they're</c><00:49:10.440><c> banking</c><00:49:10.799><c> there</c>

49:11

building they they're banking there building they they're banking there probably<00:49:12.040><c> most</c><00:49:12.240><c> likely</c><00:49:12.520><c> based</c><00:49:12.839><c> on</c><00:49:13.000><c> Caleb's</c> probably most likely based on Caleb's probably most likely based on Caleb's data<00:49:13.880><c> that</c><00:49:14.280><c> it's</c><00:49:14.559><c> with</c><00:49:14.720><c> it's</c><00:49:15.200><c> it's</c><00:49:15.400><c> convenient</c>

49:15

data that it's with it's it's convenient data that it's with it's it's convenient because<00:49:16.079><c> it's</c><00:49:16.200><c> in</c><00:49:16.319><c> a</c><00:49:16.440><c> close</c><00:49:16.839><c> proximity</c><00:49:17.839><c> but</c><00:49:18.119><c> I</c>

49:18

because it's in a close proximity but I because it's in a close proximity but I I<00:49:19.000><c> would</c><00:49:19.160><c> bet</c><00:49:19.640><c> number</c><00:49:19.880><c> two</c><00:49:20.079><c> is</c><00:49:20.280><c> because</c><00:49:20.520><c> they</c> I would bet number two is because they I would bet number two is because they have<00:49:20.880><c> a</c><00:49:21.000><c> person</c><00:49:21.280><c> there</c><00:49:21.440><c> that</c><00:49:21.599><c> they</c><00:49:21.799><c> trust</c><00:49:22.480><c> and</c>

49:22

have a person there that they trust and have a person there that they trust and they've<00:49:22.799><c> built</c><00:49:23.079><c> that</c><00:49:23.280><c> relationship</c><00:49:23.920><c> with</c><00:49:24.119><c> and</c> they've built that relationship with and they've built that relationship with and that's<00:49:24.480><c> why</c><00:49:24.599><c> they</c><00:49:24.760><c> do</c>

49:25

that's why they do that's why they do that<00:49:26.799><c> so</c><00:49:27.400><c> uh</c><00:49:27.520><c> I'm</c><00:49:27.640><c> going</c><00:49:27.760><c> to</c><00:49:27.920><c> come</c><00:49:28.240><c> back</c><00:49:28.520><c> to</c><00:49:29.079><c> a</c>

49:29

that so uh I'm going to come back to a that so uh I'm going to come back to a question<00:49:29.720><c> that</c><00:49:29.839><c> I</c><00:49:29.960><c> said</c><00:49:30.119><c> I</c><00:49:30.280><c> put</c><00:49:30.400><c> a</c><00:49:30.520><c> pin</c><00:49:30.680><c> in</c> question that I said I put a pin in question that I said I put a pin in earlier<00:49:31.160><c> around</c><00:49:31.480><c> Workforce</c><00:49:32.040><c> and</c><00:49:32.480><c> who's</c>

49:32

earlier around Workforce and who's earlier around Workforce and who's serving<00:49:33.240><c> the</c><00:49:33.480><c> the</c><00:49:33.640><c> customers</c><00:49:34.079><c> and</c><00:49:34.240><c> the</c> serving the the customers and the serving the the customers and the consumers<00:49:35.319><c> and</c><00:49:35.440><c> so</c><00:49:35.559><c> Miguel</c><00:49:35.880><c> I'll</c><00:49:36.000><c> go</c><00:49:36.119><c> to</c><00:49:36.240><c> you</c>

49:36

consumers and so Miguel I'll go to you consumers and so Miguel I'll go to you with<00:49:36.599><c> this</c><00:49:36.760><c> one</c><00:49:37.240><c> how</c><00:49:37.359><c> do</c><00:49:37.480><c> you</c><00:49:37.599><c> see</c><00:49:37.920><c> these</c> with this one how do you see these with this one how do you see these Trends<00:49:38.680><c> affecting</c><00:49:39.119><c> the</c><00:49:39.240><c> financial</c>

49:39

Trends affecting the financial Trends affecting the financial industry's<00:49:40.680><c> Workforce</c><00:49:41.680><c> and</c><00:49:42.119><c> how</c><00:49:42.280><c> can</c>

49:42

industry's Workforce and how can industry's Workforce and how can Workforce<00:49:43.280><c> Development</c><00:49:44.280><c> um</c><00:49:44.839><c> Services</c><00:49:45.839><c> better</c>

49:46

Workforce Development um Services better Workforce Development um Services better serve<00:49:46.720><c> clients</c><00:49:47.200><c> and</c><00:49:47.400><c> better</c><00:49:47.680><c> serve</c><00:49:48.599><c> um</c><00:49:49.079><c> how</c>

49:49

serve clients and better serve um how serve clients and better serve um how can<00:49:49.599><c> they</c><00:49:49.799><c> better</c><00:49:50.079><c> prepare</c><00:49:50.720><c> uh</c><00:49:50.880><c> Workforce</c><00:49:51.520><c> for</c>

49:51

can they better prepare uh Workforce for can they better prepare uh Workforce for these<00:49:52.280><c> uh</c><00:49:52.400><c> shifts</c><00:49:52.760><c> in</c><00:49:52.839><c> the</c><00:49:53.000><c> financial</c> these uh shifts in the financial these uh shifts in the financial institutions<00:49:54.680><c> so</c><00:49:54.960><c> you're</c><00:49:55.119><c> talking</c><00:49:55.400><c> about</c>

49:56

institutions so you're talking about institutions so you're talking about jobs<00:49:56.760><c> within</c><00:49:57.119><c> banking</c><00:49:58.119><c> yes</c><00:49:59.040><c> oh</c><00:49:59.200><c> I</c><00:49:59.359><c> love</c><00:49:59.559><c> that</c>

49:59

jobs within banking yes oh I love that jobs within banking yes oh I love that question<00:50:00.119><c> you</c> question you question you know<00:50:02.000><c> as</c><00:50:02.359><c> as</c><00:50:02.520><c> someone</c><00:50:02.839><c> that's</c><00:50:02.960><c> a</c><00:50:03.119><c> person</c><00:50:03.319><c> of</c>

50:03

know as as someone that's a person of know as as someone that's a person of color<00:50:04.200><c> and</c><00:50:04.440><c> and</c><00:50:04.559><c> an</c><00:50:04.720><c> immigrant</c><00:50:05.200><c> and</c><00:50:05.319><c> work</c><00:50:05.520><c> in</c>

50:05

color and and an immigrant and work in color and and an immigrant and work in the<00:50:05.760><c> financial</c><00:50:06.200><c> industry</c><00:50:06.599><c> kind</c><00:50:06.720><c> of</c><00:50:06.799><c> one</c><00:50:06.920><c> of</c><00:50:07.000><c> my</c> the financial industry kind of one of my the financial industry kind of one of my life's<00:50:07.520><c> passions</c><00:50:07.839><c> is</c><00:50:07.960><c> to</c><00:50:08.119><c> get</c><00:50:08.280><c> more</c><00:50:08.680><c> folks</c>

50:08

life's passions is to get more folks life's passions is to get more folks that<00:50:09.079><c> look</c><00:50:09.280><c> like</c><00:50:09.440><c> me</c><00:50:09.839><c> in</c><00:50:10.160><c> in</c><00:50:10.319><c> banking</c> that look like me in in banking that look like me in in banking especially<00:50:11.280><c> when</c><00:50:11.400><c> you're</c><00:50:11.720><c> a</c><00:50:11.880><c> banker</c><00:50:12.520><c> in</c><00:50:12.680><c> the</c>

50:12

especially when you're a banker in the especially when you're a banker in the Deep<00:50:13.200><c> South</c><00:50:14.200><c> um</c><00:50:14.880><c> and</c><00:50:15.000><c> it's</c><00:50:15.200><c> important</c><00:50:15.680><c> because</c>

50:16

Deep South um and it's important because Deep South um and it's important because as<00:50:16.799><c> our</c><00:50:17.480><c> as</c><00:50:17.559><c> our</c><00:50:17.799><c> population</c><00:50:18.200><c> gets</c><00:50:18.400><c> more</c>

50:19

as our as our population gets more as our as our population gets more diverse<00:50:20.280><c> if</c><00:50:20.480><c> if</c><00:50:20.680><c> if</c><00:50:20.760><c> your</c><00:50:20.880><c> bank</c><00:50:21.119><c> doesn't</c>

50:21

diverse if if if your bank doesn't diverse if if if your bank doesn't reflect<00:50:21.720><c> the</c><00:50:21.799><c> community</c><00:50:22.119><c> that</c><00:50:22.240><c> you</c><00:50:22.359><c> serve</c> reflect the community that you serve reflect the community that you serve you're<00:50:22.720><c> going</c><00:50:22.799><c> to</c><00:50:22.920><c> struggle</c><00:50:23.240><c> getting</c><00:50:23.559><c> those</c>

50:24

you're going to struggle getting those you're going to struggle getting those customers<00:50:25.079><c> um</c><00:50:25.480><c> so</c><00:50:26.200><c> you</c><00:50:26.319><c> know</c>

50:27

customers um so you know customers um so you know I've<00:50:27.280><c> heard</c><00:50:27.520><c> this</c><00:50:27.640><c> from</c><00:50:27.799><c> some</c><00:50:27.920><c> of</c><00:50:28.040><c> my</c><00:50:28.160><c> other</c> I've heard this from some of my other I've heard this from some of my other Banker<00:50:28.799><c> friends</c><00:50:29.000><c> and</c><00:50:29.119><c> they</c><00:50:29.240><c> say</c><00:50:29.400><c> well</c><00:50:29.520><c> it's</c>

50:29

Banker friends and they say well it's Banker friends and they say well it's really<00:50:29.960><c> tough</c><00:50:30.319><c> for</c><00:50:30.559><c> X</c><00:50:30.720><c> and</c><00:50:30.920><c> Y</c><00:50:31.160><c> reason</c><00:50:31.960><c> and</c><00:50:32.079><c> what</c>

50:32

really tough for X and Y reason and what really tough for X and Y reason and what I<00:50:32.359><c> always</c><00:50:32.559><c> say</c><00:50:32.720><c> to</c><00:50:32.880><c> them</c><00:50:33.119><c> it's</c><00:50:33.280><c> not</c><00:50:33.440><c> a</c><00:50:33.680><c> talent</c>

50:34

I always say to them it's not a talent I always say to them it's not a talent acquisition<00:50:35.119><c> problem</c><00:50:35.520><c> it's</c><00:50:35.640><c> a</c><00:50:35.880><c> talent</c>

50:36

acquisition problem it's a talent acquisition problem it's a talent recognition<00:50:37.200><c> problem</c><00:50:37.880><c> and</c><00:50:38.000><c> what</c><00:50:38.119><c> I</c><00:50:38.200><c> mean</c><00:50:38.480><c> by</c>

50:38

recognition problem and what I mean by recognition problem and what I mean by that<00:50:38.960><c> is</c><00:50:39.960><c> there</c><00:50:40.839><c> the</c><00:50:40.960><c> reason</c><00:50:41.240><c> Miguel</c><00:50:41.559><c> Lopez</c><00:50:41.920><c> is</c>

50:41

that is there the reason Miguel Lopez is that is there the reason Miguel Lopez is on<00:50:42.079><c> the</c><00:50:42.240><c> zoom</c><00:50:42.480><c> call</c><00:50:42.720><c> today</c><00:50:42.920><c> is</c><00:50:43.079><c> because</c> on the zoom call today is because on the zoom call today is because someone<00:50:43.480><c> took</c><00:50:43.640><c> a</c><00:50:43.760><c> chance</c><00:50:44.040><c> on</c><00:50:44.200><c> me</c><00:50:44.640><c> 10</c><00:50:44.920><c> years</c><00:50:45.119><c> ago</c>

50:45

someone took a chance on me 10 years ago someone took a chance on me 10 years ago and<00:50:45.480><c> gave</c><00:50:45.599><c> me</c><00:50:45.720><c> my</c><00:50:45.839><c> first</c><00:50:46.040><c> banking</c><00:50:46.440><c> job</c><00:50:47.119><c> I</c> and gave me my first banking job I and gave me my first banking job I didn't<00:50:47.400><c> have</c><00:50:47.559><c> any</c><00:50:47.799><c> qualification</c><00:50:48.319><c> to</c><00:50:48.440><c> be</c><00:50:48.559><c> a</c>

50:48

didn't have any qualification to be a didn't have any qualification to be a banker<00:50:49.000><c> but</c><00:50:49.119><c> someone</c><00:50:49.400><c> took</c><00:50:49.520><c> a</c><00:50:49.640><c> chance</c><00:50:49.880><c> on</c><00:50:50.000><c> me</c> banker but someone took a chance on me banker but someone took a chance on me important<00:50:50.839><c> into</c><00:50:51.000><c> me</c><00:50:51.880><c> and</c><00:50:52.240><c> you</c><00:50:52.400><c> know</c><00:50:52.760><c> I</c><00:50:53.000><c> I'll</c>

50:53

important into me and you know I I'll important into me and you know I I'll follow<00:50:53.520><c> through</c><00:50:53.720><c> with</c><00:50:53.920><c> that</c><00:50:54.799><c> so</c><00:50:55.160><c> really</c><00:50:55.559><c> I</c>

50:55

follow through with that so really I follow through with that so really I don't<00:50:55.799><c> think</c><00:50:55.960><c> it's</c><00:50:56.079><c> a</c><00:50:56.240><c> talent</c><00:50:56.799><c> because</c><00:50:57.319><c> you</c> don't think it's a talent because you don't think it's a talent because you know<00:50:57.760><c> we</c><00:50:57.920><c> we</c><00:50:58.040><c> had</c><00:50:58.240><c> that</c><00:50:58.359><c> challenge</c><00:50:58.720><c> here</c><00:50:58.920><c> when</c>

50:59

know we we had that challenge here when know we we had that challenge here when I<00:50:59.200><c> came</c><00:50:59.440><c> to</c><00:50:59.640><c> on</c><00:51:00.160><c> to</c><00:51:00.520><c> Southern</c><00:51:01.200><c> they</c><00:51:01.319><c> said</c><00:51:01.559><c> hey</c>

51:01

I came to on to Southern they said hey I came to on to Southern they said hey let's<00:51:01.839><c> go</c><00:51:02.040><c> hire</c><00:51:02.480><c> commercial</c><00:51:02.920><c> loan</c><00:51:03.200><c> officers</c>

51:03

let's go hire commercial loan officers let's go hire commercial loan officers well<00:51:04.079><c> the</c><00:51:04.280><c> re</c><00:51:04.480><c> that</c><00:51:04.599><c> are</c><00:51:04.880><c> Hispanic</c><00:51:05.240><c> and</c> well the re that are Hispanic and well the re that are Hispanic and bilingual<00:51:05.960><c> there's</c><00:51:06.200><c> less</c><00:51:06.400><c> than</c><00:51:06.559><c> 10</c><00:51:06.880><c> bilingual</c>

51:07

bilingual there's less than 10 bilingual bilingual there's less than 10 bilingual Comm<00:51:07.720><c> commercial</c><00:51:08.079><c> loan</c><00:51:08.359><c> officers</c><00:51:08.680><c> in</c><00:51:08.839><c> the</c> Comm commercial loan officers in the Comm commercial loan officers in the State<00:51:10.079><c> uh</c><00:51:10.680><c> what</c><00:51:10.839><c> I</c><00:51:10.960><c> told</c><00:51:11.160><c> the</c><00:51:11.280><c> leadership</c><00:51:11.680><c> team</c>

51:11

State uh what I told the leadership team State uh what I told the leadership team is<00:51:12.079><c> what</c><00:51:12.200><c> we're</c><00:51:12.319><c> going</c><00:51:12.440><c> to</c><00:51:12.599><c> have</c><00:51:12.720><c> to</c><00:51:12.839><c> do</c><00:51:13.000><c> is</c> is what we're going to have to do is is what we're going to have to do is we're<00:51:13.240><c> going</c><00:51:13.359><c> to</c><00:51:13.520><c> have</c><00:51:13.640><c> to</c><00:51:14.200><c> hire</c><00:51:14.559><c> and</c><00:51:14.799><c> develop</c>

51:15

we're going to have to hire and develop we're going to have to hire and develop right<00:51:15.960><c> start</c><00:51:16.559><c> go</c><00:51:16.720><c> let's</c><00:51:16.839><c> go</c><00:51:16.960><c> to</c><00:51:17.079><c> our</c><00:51:17.200><c> teller</c>

51:17

right start go let's go to our teller right start go let's go to our teller line<00:51:17.839><c> where</c><00:51:17.960><c> are</c><00:51:18.079><c> our</c><00:51:18.280><c> bilingual</c><00:51:18.720><c> tellers</c><00:51:19.160><c> and</c> line where are our bilingual tellers and line where are our bilingual tellers and ask<00:51:19.599><c> them</c><00:51:20.079><c> hey</c><00:51:20.200><c> what</c><00:51:20.280><c> do</c><00:51:20.359><c> you</c><00:51:20.440><c> want</c><00:51:20.520><c> to</c><00:51:20.680><c> do</c><00:51:20.839><c> in</c>

51:20

ask them hey what do you want to do in ask them hey what do you want to do in five<00:51:21.240><c> years</c><00:51:21.640><c> right</c><00:51:21.799><c> do</c><00:51:21.960><c> you</c><00:51:22.240><c> have</c><00:51:22.839><c> the</c>

51:23

five years right do you have the five years right do you have the interest<00:51:24.040><c> and</c><00:51:24.359><c> the</c><00:51:25.000><c> the</c><00:51:25.720><c> the</c><00:51:25.880><c> desire</c><00:51:26.160><c> to</c><00:51:26.240><c> be</c>

51:26

interest and the the the desire to be interest and the the the desire to be officer<00:51:27.079><c> and</c><00:51:27.200><c> if</c><00:51:27.359><c> so</c><00:51:27.599><c> let's</c><00:51:27.839><c> get</c><00:51:28.000><c> you</c><00:51:28.200><c> on</c><00:51:28.359><c> that</c> officer and if so let's get you on that officer and if so let's get you on that platform<00:51:29.640><c> uh</c><00:51:29.760><c> we</c><00:51:29.880><c> have</c><00:51:30.000><c> a</c><00:51:30.119><c> lending</c><00:51:30.559><c> Academy</c>

51:30

platform uh we have a lending Academy platform uh we have a lending Academy here<00:51:31.280><c> at</c><00:51:31.760><c> at</c><00:51:31.880><c> Southern</c><00:51:32.280><c> where</c><00:51:32.400><c> we</c><00:51:32.480><c> want</c><00:51:32.599><c> to</c> here at at Southern where we want to here at at Southern where we want to coach<00:51:33.720><c> um</c><00:51:34.720><c> you</c><00:51:34.839><c> know</c><00:51:35.240><c> I</c><00:51:35.599><c> I'll</c><00:51:35.720><c> summarize</c><00:51:36.160><c> it</c>

51:36

coach um you know I I'll summarize it coach um you know I I'll summarize it this<00:51:36.480><c> way</c><00:51:36.640><c> because</c><00:51:36.799><c> I</c><00:51:36.839><c> can</c><00:51:36.960><c> talk</c><00:51:37.079><c> about</c><00:51:37.240><c> this</c> this way because I can talk about this this way because I can talk about this for<00:51:37.440><c> a</c><00:51:37.559><c> while</c><00:51:37.760><c> but</c><00:51:38.040><c> if</c><00:51:38.119><c> you</c><00:51:38.280><c> picture</c><00:51:38.599><c> a</c><00:51:38.720><c> glass</c>

51:38

for a while but if you picture a glass for a while but if you picture a glass of<00:51:39.200><c> milk</c><00:51:39.880><c> you</c><00:51:40.000><c> pour</c><00:51:40.400><c> chocolate</c><00:51:40.839><c> in</c><00:51:41.000><c> it</c><00:51:41.680><c> right</c>

51:42

of milk you pour chocolate in it right of milk you pour chocolate in it right now<00:51:42.559><c> it's</c><00:51:42.760><c> diverse</c><00:51:43.200><c> you</c><00:51:43.319><c> got</c><00:51:43.520><c> the</c><00:51:43.680><c> chocolate</c> now it's diverse you got the chocolate now it's diverse you got the chocolate at<00:51:44.160><c> the</c><00:51:44.240><c> bottom</c><00:51:44.440><c> and</c><00:51:44.559><c> the</c><00:51:44.640><c> white</c><00:51:44.839><c> on</c><00:51:45.040><c> top</c><00:51:45.799><c> but</c>

51:45

at the bottom and the white on top but at the bottom and the white on top but you<00:51:46.040><c> don't</c><00:51:46.240><c> get</c><00:51:46.440><c> inclusion</c><00:51:46.920><c> until</c><00:51:47.160><c> you</c><00:51:47.240><c> stick</c> you don't get inclusion until you stick you don't get inclusion until you stick the<00:51:47.559><c> spoon</c><00:51:47.799><c> in</c><00:51:47.960><c> there</c><00:51:48.079><c> and</c><00:51:48.240><c> Stir</c><00:51:48.559><c> It</c><00:51:48.680><c> Up</c><00:51:49.040><c> and</c>

51:49

the spoon in there and Stir It Up and the spoon in there and Stir It Up and that's<00:51:49.400><c> what</c><00:51:49.559><c> we</c><00:51:49.720><c> as</c><00:51:49.920><c> financial</c><00:51:50.319><c> institutions</c> that's what we as financial institutions that's what we as financial institutions need<00:51:50.960><c> to</c><00:51:51.119><c> do</c><00:51:51.240><c> is</c><00:51:51.400><c> we</c><00:51:51.520><c> can't</c><00:51:51.760><c> just</c><00:51:51.960><c> hire</c>

51:52

need to do is we can't just hire need to do is we can't just hire Hispanic<00:51:53.200><c> and</c><00:51:53.359><c> African-American</c><00:51:53.960><c> folks</c><00:51:54.200><c> and</c> Hispanic and African-American folks and Hispanic and African-American folks and keep<00:51:54.480><c> them</c><00:51:54.599><c> at</c><00:51:54.720><c> the</c><00:51:54.839><c> teller</c><00:51:55.160><c> line</c><00:51:55.680><c> we</c><00:51:55.799><c> need</c><00:51:55.960><c> a</c>

51:56

keep them at the teller line we need a keep them at the teller line we need a hire<00:51:56.680><c> them</c><00:51:56.839><c> to</c><00:51:57.000><c> get</c><00:51:57.160><c> them</c><00:51:57.280><c> in</c><00:51:57.400><c> the</c><00:51:57.559><c> door</c><00:51:58.119><c> but</c>

51:58

hire them to get them in the door but hire them to get them in the door but also<00:51:58.599><c> put</c><00:51:58.799><c> them</c><00:51:58.920><c> on</c><00:51:59.040><c> a</c><00:51:59.240><c> path</c><00:51:59.520><c> based</c><00:51:59.720><c> on</c><00:51:59.880><c> their</c> also put them on a path based on their also put them on a path based on their interest<00:52:00.599><c> and</c><00:52:00.760><c> the</c><00:52:00.920><c> and</c><00:52:01.040><c> the</c><00:52:01.160><c> company's</c><00:52:01.640><c> goals</c>

52:02

interest and the and the company's goals interest and the and the company's goals so<00:52:02.640><c> that</c><00:52:02.760><c> they</c><00:52:02.880><c> can</c><00:52:03.000><c> move</c><00:52:03.280><c> up</c><00:52:03.680><c> to</c><00:52:04.599><c> lenders</c>

52:05

so that they can move up to lenders so that they can move up to lenders Market<00:52:06.079><c> presidents</c><00:52:07.000><c> compliance</c><00:52:07.839><c> officers</c>

52:08

Market presidents compliance officers Market presidents compliance officers what<00:52:09.040><c> have</c><00:52:09.240><c> you</c><00:52:09.440><c> and</c><00:52:09.640><c> really</c><00:52:10.000><c> have</c><00:52:10.280><c> that</c> what have you and really have that what have you and really have that inclusive<00:52:11.160><c> banking</c><00:52:11.880><c> uh</c><00:52:12.440><c> Community</c><00:52:13.440><c> thanks</c>

52:13

inclusive banking uh Community thanks inclusive banking uh Community thanks Miguel<00:52:14.599><c> so</c><00:52:14.760><c> I</c><00:52:14.839><c> have</c><00:52:15.040><c> one</c><00:52:15.280><c> La</c><00:52:15.720><c> last</c><00:52:15.920><c> question</c>

52:16

Miguel so I have one La last question Miguel so I have one La last question for<00:52:16.400><c> the</c><00:52:16.520><c> group</c><00:52:16.880><c> before</c><00:52:17.240><c> we</c><00:52:17.839><c> uh</c><00:52:17.960><c> end</c><00:52:18.160><c> our</c>

52:18

for the group before we uh end our for the group before we uh end our conversation<00:52:19.799><c> and</c><00:52:20.160><c> I'm</c><00:52:20.280><c> gonna</c><00:52:20.559><c> go</c><00:52:20.720><c> around</c><00:52:20.960><c> the</c>

52:21

conversation and I'm gonna go around the conversation and I'm gonna go around the room<00:52:21.480><c> and</c><00:52:21.680><c> and</c><00:52:21.839><c> Caleb</c><00:52:22.160><c> I</c><00:52:22.240><c> want</c><00:52:22.400><c> you</c><00:52:22.520><c> to</c><00:52:22.640><c> come</c><00:52:22.799><c> in</c> room and and Caleb I want you to come in room and and Caleb I want you to come in here<00:52:23.200><c> too</c><00:52:24.160><c> what</c><00:52:24.280><c> do</c><00:52:24.400><c> you</c><00:52:24.559><c> think</c><00:52:24.760><c> the</c><00:52:24.880><c> future</c>

52:25

here too what do you think the future here too what do you think the future holds<00:52:25.640><c> for</c><00:52:25.880><c> Bank</c><00:52:26.119><c> branch</c><00:52:26.720><c> es</c><00:52:27.000><c> and</c><00:52:27.119><c> so</c><00:52:27.359><c> Caleb</c>

52:27

holds for Bank branch es and so Caleb holds for Bank branch es and so Caleb I'll<00:52:27.839><c> start</c><00:52:28.079><c> with</c><00:52:28.240><c> you</c><00:52:28.400><c> if</c><00:52:28.760><c> in</c><00:52:28.960><c> 30</c><00:52:29.280><c> seconds</c>

52:29

I'll start with you if in 30 seconds I'll start with you if in 30 seconds each<00:52:29.839><c> of</c><00:52:30.000><c> you</c><00:52:30.160><c> all</c><00:52:30.359><c> can</c><00:52:30.480><c> tell</c><00:52:30.640><c> me</c><00:52:30.839><c> what</c><00:52:30.920><c> do</c><00:52:31.000><c> you</c> each of you all can tell me what do you each of you all can tell me what do you think<00:52:31.440><c> the</c><00:52:31.640><c> the</c><00:52:31.760><c> future</c><00:52:32.040><c> holes</c><00:52:32.319><c> for</c><00:52:32.480><c> Bank</c>

52:33

think the the future holes for Bank think the the future holes for Bank branches<00:52:34.359><c> it's</c><00:52:34.520><c> a</c><00:52:34.680><c> great</c><00:52:34.960><c> question</c><00:52:35.359><c> and</c><00:52:35.520><c> it's</c>

52:35

branches it's a great question and it's branches it's a great question and it's one<00:52:36.200><c> academically</c><00:52:36.760><c> I</c><00:52:36.880><c> think</c><00:52:37.079><c> about</c><00:52:37.319><c> a</c><00:52:37.440><c> lot</c><00:52:37.720><c> but</c>

52:37

one academically I think about a lot but one academically I think about a lot but I'm<00:52:38.000><c> going</c><00:52:38.119><c> to</c><00:52:38.240><c> put</c><00:52:38.440><c> back</c><00:52:38.599><c> on</c><00:52:38.880><c> my</c><00:52:39.240><c> my</c><00:52:39.559><c> examiner</c>

52:40

I'm going to put back on my my examiner I'm going to put back on my my examiner hat<00:52:40.400><c> and</c><00:52:41.079><c> and</c><00:52:41.240><c> say</c><00:52:41.960><c> I</c><00:52:42.040><c> think</c><00:52:42.200><c> a</c><00:52:42.480><c> lot</c><00:52:43.240><c> we're</c>

52:43

hat and and say I think a lot we're hat and and say I think a lot we're going<00:52:43.559><c> to</c><00:52:43.680><c> see</c><00:52:43.880><c> a</c><00:52:44.040><c> lot</c><00:52:44.240><c> more</c><00:52:44.599><c> innovation</c><00:52:45.200><c> in</c> going to see a lot more innovation in going to see a lot more innovation in Bank<00:52:45.640><c> branches</c><00:52:46.119><c> we're</c><00:52:46.280><c> going</c><00:52:46.480><c> to</c><00:52:46.599><c> see</c>

52:46

Bank branches we're going to see Bank branches we're going to see Partnerships<00:52:47.440><c> with</c><00:52:47.599><c> Community</c> Partnerships with Community Partnerships with Community organizations<00:52:49.200><c> we're</c><00:52:49.359><c> going</c><00:52:49.480><c> to</c><00:52:49.640><c> see</c><00:52:50.480><c> a</c>

52:50

organizations we're going to see a organizations we're going to see a product<00:52:51.160><c> specific</c><00:52:51.559><c> to</c><00:52:51.760><c> markets</c><00:52:52.520><c> because</c><00:52:53.520><c> uh</c>

52:53

product specific to markets because uh product specific to markets because uh people<00:52:53.839><c> are</c><00:52:54.000><c> busy</c><00:52:54.599><c> and</c><00:52:54.760><c> to</c><00:52:55.079><c> ensure</c><00:52:55.640><c> that</c><00:52:55.799><c> that</c>

52:55

people are busy and to ensure that that people are busy and to ensure that that branch<00:52:56.799><c> profitable</c><00:52:57.200><c> you</c><00:52:57.319><c> need</c><00:52:57.599><c> footsteps</c><00:52:58.119><c> you</c>

52:58

branch profitable you need footsteps you branch profitable you need footsteps you need<00:52:59.119><c> uh</c><00:52:59.319><c> people</c><00:52:59.680><c> in</c><00:53:00.000><c> those</c><00:53:00.240><c> branches</c><00:53:00.720><c> and</c><00:53:00.839><c> to</c>

53:01

need uh people in those branches and to need uh people in those branches and to have<00:53:01.240><c> people</c><00:53:01.480><c> in</c><00:53:01.640><c> them</c><00:53:01.839><c> you're</c><00:53:02.000><c> going</c><00:53:02.200><c> to</c><00:53:02.319><c> need</c> have people in them you're going to need have people in them you're going to need to<00:53:02.599><c> be</c><00:53:02.799><c> Innovative</c><00:53:03.799><c> and</c><00:53:04.040><c> I'm</c><00:53:04.160><c> just</c><00:53:04.319><c> really</c>

53:04

to be Innovative and I'm just really to be Innovative and I'm just really excited<00:53:05.000><c> and</c><00:53:05.160><c> curious</c><00:53:05.480><c> to</c><00:53:05.599><c> see</c><00:53:05.760><c> what</c><00:53:05.880><c> that</c> excited and curious to see what that excited and curious to see what that Innovation<00:53:06.440><c> looks</c><00:53:06.680><c> like</c><00:53:06.799><c> we've</c><00:53:06.960><c> heard</c><00:53:07.119><c> a</c>

53:07

Innovation looks like we've heard a Innovation looks like we've heard a little<00:53:07.319><c> bit</c><00:53:07.480><c> about</c><00:53:07.599><c> it</c><00:53:07.720><c> on</c><00:53:07.839><c> the</c><00:53:08.160><c> call</c><00:53:09.160><c> uh</c><00:53:09.359><c> and</c>

53:09

little bit about it on the call uh and little bit about it on the call uh and there<00:53:09.839><c> are</c><00:53:10.040><c> certainly</c><00:53:10.480><c> CRA</c><00:53:10.920><c> and</c><00:53:11.079><c> fair</c><00:53:11.280><c> lending</c> there are certainly CRA and fair lending there are certainly CRA and fair lending benefits<00:53:11.920><c> to</c><00:53:12.079><c> that</c><00:53:12.200><c> Innovation</c><00:53:12.880><c> but</c><00:53:13.240><c> I</c><00:53:13.319><c> think</c>

53:13

benefits to that Innovation but I think benefits to that Innovation but I think we're<00:53:13.599><c> going</c><00:53:13.760><c> to</c><00:53:13.880><c> see</c><00:53:14.079><c> more</c><00:53:14.240><c> of</c><00:53:14.359><c> that</c><00:53:14.520><c> more</c> we're going to see more of that more we're going to see more of that more partnership<00:53:15.280><c> with</c><00:53:15.440><c> nonprofits</c><00:53:16.119><c> that</c><00:53:16.319><c> build</c>

53:16

partnership with nonprofits that build partnership with nonprofits that build trust<00:53:17.000><c> get</c><00:53:17.119><c> more</c><00:53:17.319><c> people</c><00:53:17.520><c> in</c><00:53:17.680><c> the</c><00:53:17.799><c> door</c><00:53:18.599><c> and</c><00:53:18.799><c> if</c>

53:18

trust get more people in the door and if trust get more people in the door and if that's<00:53:19.160><c> done</c><00:53:19.440><c> well</c><00:53:19.880><c> I</c><00:53:19.960><c> think</c><00:53:20.119><c> it</c><00:53:20.240><c> could</c><00:53:20.400><c> have</c><00:53:20.640><c> a</c> that's done well I think it could have a that's done well I think it could have a really<00:53:21.119><c> powerful</c><00:53:21.680><c> impact</c><00:53:22.559><c> on</c><00:53:22.839><c> sort</c><00:53:23.040><c> of</c><00:53:23.280><c> the</c>

53:23

really powerful impact on sort of the really powerful impact on sort of the the<00:53:23.680><c> personal</c><00:53:24.680><c> U</c><00:53:24.880><c> balance</c><00:53:25.240><c> sheets</c><00:53:25.559><c> of</c>

53:25

the personal U balance sheets of the personal U balance sheets of households<00:53:26.119><c> and</c><00:53:26.480><c> communities</c><00:53:27.480><c> not</c><00:53:27.599><c> only</c>

53:27

households and communities not only households and communities not only through<00:53:27.920><c> our</c><00:53:28.079><c> e</c><00:53:28.319><c> District</c><00:53:28.680><c> here</c><00:53:29.040><c> in</c><00:53:29.200><c> the</c><00:53:29.400><c> in</c><00:53:29.680><c> at</c>

53:29

through our e District here in the in at through our e District here in the in at the<00:53:29.880><c> Federal</c><00:53:30.119><c> Reserve</c><00:53:30.400><c> Bank</c><00:53:30.520><c> of</c><00:53:30.599><c> St</c><00:53:30.760><c> Louis</c><00:53:31.000><c> but</c> the Federal Reserve Bank of St Louis but the Federal Reserve Bank of St Louis but across<00:53:31.359><c> the</c><00:53:31.920><c> country</c><00:53:32.920><c> thanks</c><00:53:33.319><c> Caleb</c><00:53:33.839><c> Wes</c><00:53:34.079><c> what</c>

53:34

across the country thanks Caleb Wes what across the country thanks Caleb Wes what about about about you<00:53:36.400><c> said</c><00:53:36.520><c> it</c><00:53:36.680><c> well</c><00:53:36.920><c> I</c><00:53:37.000><c> think</c><00:53:37.280><c> I</c><00:53:37.359><c> think</c><00:53:37.520><c> what</c><00:53:37.640><c> I</c>

53:37

you said it well I think I think what I you said it well I think I think what I would<00:53:37.920><c> add</c><00:53:38.119><c> is</c><00:53:38.440><c> you</c><00:53:38.520><c> know</c><00:53:38.640><c> digital</c><00:53:39.079><c> first</c><00:53:39.720><c> um</c>

53:39

would add is you know digital first um would add is you know digital first um you<00:53:39.920><c> know</c><00:53:40.160><c> we're</c><00:53:40.240><c> moving</c><00:53:40.480><c> to</c><00:53:40.599><c> a</c><00:53:40.720><c> digital</c> you know we're moving to a digital you know we're moving to a digital Society<00:53:41.520><c> if</c><00:53:41.640><c> we're</c><00:53:41.799><c> not</c><00:53:41.960><c> already</c><00:53:42.240><c> there</c><00:53:42.520><c> maybe</c>

53:42

Society if we're not already there maybe Society if we're not already there maybe I'm<00:53:42.880><c> just</c><00:53:43.000><c> a</c><00:53:43.079><c> little</c><00:53:43.280><c> slow</c><00:53:43.599><c> on</c><00:53:43.760><c> that</c><00:53:44.000><c> adopt</c> I'm just a little slow on that adopt I'm just a little slow on that adopt adoption<00:53:45.079><c> but</c><00:53:45.400><c> uh</c><00:53:45.799><c> yeah</c><00:53:46.079><c> smaller</c><00:53:46.680><c> efficient</c>

53:47

adoption but uh yeah smaller efficient adoption but uh yeah smaller efficient location<00:53:48.119><c> you</c><00:53:48.240><c> know</c><00:53:49.040><c> digitally</c><00:53:49.640><c> focused</c><00:53:50.440><c> um</c><00:53:51.240><c> I</c>

53:51

location you know digitally focused um I location you know digitally focused um I I<00:53:51.480><c> think</c><00:53:51.680><c> is</c><00:53:51.960><c> is</c><00:53:52.119><c> the</c><00:53:52.280><c> model</c><00:53:52.760><c> that</c><00:53:52.880><c> that</c> I think is is the model that that I think is is the model that that everyone<00:53:53.400><c> will</c><00:53:53.559><c> be</c><00:53:53.720><c> moving</c><00:53:54.040><c> to</c><00:53:54.880><c> uh</c><00:53:55.000><c> but</c><00:53:55.119><c> I</c><00:53:55.240><c> will</c>

53:55

everyone will be moving to uh but I will everyone will be moving to uh but I will say<00:53:55.760><c> this</c><00:53:56.079><c> you</c><00:53:56.480><c> cannot</c><00:53:56.760><c> force</c><00:53:57.079><c> change</c><00:53:57.359><c> on</c>

53:57

say this you cannot force change on say this you cannot force change on consumer<00:53:58.040><c> behaviors</c><00:53:59.040><c> uh</c><00:53:59.119><c> so</c><00:53:59.319><c> although</c><00:53:59.559><c> I</c>

53:59

consumer behaviors uh so although I consumer behaviors uh so although I think<00:53:59.760><c> there</c><00:53:59.839><c> is</c><00:54:00.079><c> evolution</c><00:54:00.640><c> happening</c><00:54:00.960><c> in</c> think there is evolution happening in think there is evolution happening in the<00:54:01.160><c> banking</c><00:54:01.520><c> industry</c><00:54:02.440><c> you</c><00:54:02.559><c> know</c><00:54:02.720><c> there</c><00:54:02.839><c> is</c><00:54:02.960><c> a</c>

54:03

the banking industry you know there is a the banking industry you know there is a segment<00:54:03.559><c> of</c><00:54:03.720><c> our</c><00:54:03.920><c> community</c><00:54:04.400><c> that</c><00:54:04.599><c> will</c><00:54:04.799><c> be</c> segment of our community that will be segment of our community that will be left<00:54:05.240><c> behind</c><00:54:05.640><c> if</c><00:54:05.799><c> we</c><00:54:05.960><c> fully</c><00:54:06.359><c> adopt</c><00:54:07.359><c> um</c><00:54:07.599><c> certain</c>

54:08

left behind if we fully adopt um certain left behind if we fully adopt um certain strategies<00:54:08.520><c> and</c><00:54:08.720><c> forget</c><00:54:09.079><c> about</c><00:54:09.400><c> what</c><00:54:09.640><c> has</c> strategies and forget about what has strategies and forget about what has been<00:54:10.040><c> historically</c><00:54:10.559><c> proven</c><00:54:10.960><c> to</c><00:54:11.119><c> work</c><00:54:11.799><c> so</c><00:54:12.000><c> I</c>

54:12

been historically proven to work so I been historically proven to work so I think<00:54:12.240><c> there's</c><00:54:12.440><c> a</c><00:54:12.559><c> balance</c><00:54:12.920><c> as</c><00:54:13.040><c> we</c><00:54:13.200><c> evolve</c><00:54:13.599><c> as</c> think there's a balance as we evolve as think there's a balance as we evolve as an<00:54:13.920><c> industry</c><00:54:14.400><c> we</c><00:54:14.559><c> cannot</c><00:54:14.920><c> forget</c><00:54:15.720><c> you</c><00:54:15.839><c> know</c>

54:16

an industry we cannot forget you know an industry we cannot forget you know the<00:54:16.400><c> the</c><00:54:16.559><c> demographics</c><00:54:17.119><c> that</c><00:54:17.280><c> Caleb</c><00:54:17.599><c> outlined</c> the the demographics that Caleb outlined the the demographics that Caleb outlined earlier<00:54:18.319><c> whether</c><00:54:18.559><c> that's</c><00:54:18.720><c> the</c><00:54:18.839><c> elderly</c><00:54:19.240><c> lady</c>

54:19

earlier whether that's the elderly lady earlier whether that's the elderly lady that<00:54:19.599><c> likes</c><00:54:19.799><c> to</c><00:54:19.960><c> cash</c><00:54:20.160><c> her</c><00:54:20.599><c> 10cent</c><00:54:21.599><c> um</c>

54:21

that likes to cash her 10cent um that likes to cash her 10cent um dividend<00:54:22.440><c> check</c><00:54:22.799><c> on</c><00:54:22.960><c> on</c><00:54:23.079><c> the</c><00:54:23.200><c> Friday</c><00:54:23.559><c> when</c><00:54:23.680><c> she</c>

54:24

dividend check on on the Friday when she dividend check on on the Friday when she receives<00:54:24.240><c> it</c><00:54:24.839><c> um</c><00:54:25.119><c> if</c><00:54:25.280><c> the</c><00:54:25.440><c> bank</c><00:54:25.680><c> goes</c><00:54:25.920><c> away</c>

54:26

receives it um if the bank goes away receives it um if the bank goes away changes<00:54:26.839><c> to</c><00:54:27.000><c> be</c><00:54:27.119><c> such</c><00:54:27.280><c> a</c><00:54:27.480><c> digital</c><00:54:28.400><c> strategy</c>

54:29

changes to be such a digital strategy changes to be such a digital strategy you<00:54:29.599><c> lose</c><00:54:29.839><c> the</c><00:54:30.000><c> ability</c><00:54:30.319><c> to</c><00:54:30.440><c> serve</c><00:54:30.720><c> her</c><00:54:31.079><c> so</c><00:54:31.200><c> we</c> you lose the ability to serve her so we you lose the ability to serve her so we can't<00:54:31.520><c> lose</c><00:54:31.760><c> sight</c><00:54:31.920><c> of</c>

54:32

can't lose sight of can't lose sight of that<00:54:34.240><c> Miguel</c><00:54:35.240><c> yeah</c><00:54:35.400><c> I</c><00:54:35.480><c> think</c><00:54:35.599><c> I</c><00:54:35.680><c> would</c><00:54:35.799><c> sum</c><00:54:36.000><c> it</c>

54:36

that Miguel yeah I think I would sum it that Miguel yeah I think I would sum it up<00:54:36.240><c> with</c><00:54:36.400><c> one</c><00:54:36.599><c> word</c><00:54:36.839><c> and</c><00:54:37.000><c> that's</c> up with one word and that's up with one word and that's intentionality<00:54:38.200><c> I</c><00:54:38.280><c> think</c><00:54:38.480><c> gone</c><00:54:38.760><c> are</c><00:54:38.960><c> the</c><00:54:39.119><c> days</c>

54:39

intentionality I think gone are the days intentionality I think gone are the days where<00:54:39.480><c> a</c><00:54:39.599><c> bank</c><00:54:39.799><c> could</c><00:54:39.920><c> just</c><00:54:40.040><c> build</c><00:54:40.240><c> a</c><00:54:40.400><c> branch</c> where a bank could just build a branch where a bank could just build a branch and<00:54:41.319><c> in</c><00:54:41.520><c> three</c><00:54:41.720><c> years</c><00:54:41.920><c> it'd</c><00:54:42.119><c> be</c><00:54:42.440><c> profitable</c><00:54:43.440><c> I</c>

54:43

and in three years it'd be profitable I and in three years it'd be profitable I think<00:54:44.240><c> bankers</c><00:54:44.720><c> and</c><00:54:44.920><c> banks</c><00:54:45.160><c> are</c><00:54:45.280><c> going</c><00:54:45.400><c> to</c> think bankers and banks are going to think bankers and banks are going to have<00:54:45.640><c> to</c><00:54:45.720><c> be</c><00:54:45.880><c> more</c><00:54:46.119><c> intentional</c><00:54:46.839><c> on</c><00:54:47.079><c> who</c><00:54:47.280><c> they</c>

54:47

have to be more intentional on who they have to be more intentional on who they hire<00:54:48.440><c> what</c><00:54:48.680><c> offer</c><00:54:49.079><c> what</c><00:54:49.240><c> services</c><00:54:49.640><c> they</c><00:54:49.799><c> offer</c>

54:50

hire what offer what services they offer hire what offer what services they offer but<00:54:50.359><c> also</c><00:54:50.599><c> on</c><00:54:51.319><c> Partnerships</c><00:54:52.319><c> as</c><00:54:52.440><c> a</c><00:54:52.559><c> cdfi</c><00:54:53.240><c> we're</c>

54:53

but also on Partnerships as a cdfi we're but also on Partnerships as a cdfi we're in<00:54:53.480><c> a</c><00:54:53.599><c> unique</c><00:54:53.880><c> position</c><00:54:54.160><c> to</c><00:54:54.400><c> partner</c><00:54:54.720><c> with</c><00:54:54.880><c> non</c> in a unique position to partner with non in a unique position to partner with non cdfi<00:54:55.760><c> Banks</c><00:54:56.680><c> uh</c><00:54:56.839><c> we've</c><00:54:57.040><c> done</c><00:54:57.240><c> that</c><00:54:57.359><c> with</c><00:54:57.520><c> Bank</c>

54:57

cdfi Banks uh we've done that with Bank cdfi Banks uh we've done that with Bank of<00:54:58.000><c> America</c><00:54:59.000><c> the</c><00:54:59.240><c> some</c><00:54:59.359><c> of</c><00:54:59.480><c> the</c><00:54:59.599><c> larger</c><00:54:59.920><c> Banks</c>

55:00

of America the some of the larger Banks of America the some of the larger Banks and<00:55:00.280><c> even</c><00:55:00.440><c> some</c><00:55:00.559><c> of</c><00:55:00.640><c> the</c><00:55:00.760><c> smaller</c><00:55:01.079><c> Regional</c> and even some of the smaller Regional and even some of the smaller Regional Banks<00:55:02.559><c> um</c><00:55:03.000><c> so</c><00:55:03.200><c> I</c><00:55:03.359><c> think</c><00:55:03.720><c> really</c><00:55:03.960><c> just</c><00:55:04.160><c> being</c>

55:04

Banks um so I think really just being Banks um so I think really just being intentional<00:55:05.200><c> but</c><00:55:05.400><c> also</c><00:55:05.640><c> you're</c><00:55:05.799><c> going</c><00:55:05.920><c> to</c> intentional but also you're going to intentional but also you're going to have<00:55:06.119><c> to</c><00:55:06.319><c> drive</c><00:55:06.680><c> that</c><00:55:06.799><c> foot</c><00:55:07.119><c> traffic</c><00:55:07.440><c> to</c><00:55:07.599><c> your</c>

55:07

have to drive that foot traffic to your have to drive that foot traffic to your branch<00:55:08.119><c> you</c><00:55:08.240><c> can't</c><00:55:08.480><c> just</c><00:55:09.160><c> you</c><00:55:09.280><c> know</c><00:55:09.440><c> put</c><00:55:09.559><c> it</c><00:55:09.640><c> on</c>

55:09

branch you can't just you know put it on branch you can't just you know put it on a<00:55:09.880><c> corner</c><00:55:10.200><c> lot</c><00:55:10.400><c> and</c><00:55:10.520><c> think</c><00:55:10.799><c> people</c><00:55:11.000><c> are</c><00:55:11.119><c> going</c> a corner lot and think people are going a corner lot and think people are going to<00:55:11.359><c> walk</c><00:55:11.599><c> in</c><00:55:12.200><c> and</c><00:55:12.400><c> the</c><00:55:12.480><c> way</c><00:55:12.599><c> you</c><00:55:12.720><c> do</c><00:55:12.880><c> that</c><00:55:13.000><c> is</c>

55:13

to walk in and the way you do that is to walk in and the way you do that is through<00:55:13.319><c> intentional</c><00:55:14.040><c> hiring</c><00:55:14.839><c> programming</c>

55:15

through intentional hiring programming through intentional hiring programming we<00:55:15.880><c> have</c><00:55:16.040><c> an</c><00:55:16.200><c> opportunity</c><00:55:16.680><c> Center</c><00:55:16.960><c> in</c><00:55:17.079><c> our</c> we have an opportunity Center in our we have an opportunity Center in our branches<00:55:17.640><c> where</c><00:55:17.799><c> folks</c><00:55:18.079><c> come</c><00:55:18.280><c> in</c><00:55:18.720><c> for</c><00:55:19.000><c> non</c>

55:19

branches where folks come in for non branches where folks come in for non banking<00:55:19.720><c> related</c><00:55:20.040><c> Services</c><00:55:20.520><c> hey</c><00:55:20.680><c> fix</c><00:55:20.920><c> my</c> banking related Services hey fix my banking related Services hey fix my credit<00:55:22.160><c> uh</c><00:55:22.640><c> you</c><00:55:22.799><c> know</c><00:55:23.039><c> do</c><00:55:23.280><c> my</c><00:55:23.520><c> taxes</c><00:55:24.359><c> that</c>

55:24

credit uh you know do my taxes that credit uh you know do my taxes that helps<00:55:24.760><c> drive</c><00:55:25.039><c> a</c><00:55:25.119><c> lot</c><00:55:25.240><c> of</c><00:55:25.319><c> our</c><00:55:25.440><c> foot</c><00:55:25.720><c> traffic</c>

55:26

helps drive a lot of our foot traffic helps drive a lot of our foot traffic and<00:55:26.880><c> you</c><00:55:27.000><c> know</c><00:55:27.160><c> if</c><00:55:27.280><c> we're</c><00:55:27.400><c> doing</c><00:55:27.599><c> our</c><00:55:27.760><c> job</c> and you know if we're doing our job and you know if we're doing our job right<00:55:28.160><c> can</c><00:55:28.359><c> also</c><00:55:28.559><c> help</c><00:55:28.720><c> us</c><00:55:28.839><c> on</c><00:55:28.960><c> the</c>

55:29

right can also help us on the right can also help us on the convergence<00:55:29.559><c> side</c><00:55:29.720><c> on</c><00:55:29.839><c> the</c><00:55:29.960><c> deposits</c><00:55:30.319><c> and</c> convergence side on the deposits and convergence side on the deposits and Loan<00:55:30.839><c> side</c><00:55:31.720><c> thanks</c><00:55:31.960><c> Miguel</c><00:55:32.359><c> and</c><00:55:32.480><c> Mike</c><00:55:32.680><c> we'll</c>

55:32

Loan side thanks Miguel and Mike we'll Loan side thanks Miguel and Mike we'll end<00:55:33.039><c> with</c><00:55:33.359><c> you</c><00:55:34.359><c> yeah</c><00:55:34.559><c> I</c><00:55:34.720><c> I</c><00:55:34.839><c> think</c><00:55:35.319><c> uh</c><00:55:35.799><c> what</c><00:55:35.960><c> Wes</c>

55:36

end with you yeah I I think uh what Wes end with you yeah I I think uh what Wes said<00:55:36.400><c> like</c><00:55:36.559><c> digital</c><00:55:36.920><c> first</c><00:55:37.440><c> I</c><00:55:37.599><c> I</c><00:55:37.799><c> I</c><00:55:38.000><c> I've</c><00:55:38.160><c> seen</c>

55:38

said like digital first I I I I've seen said like digital first I I I I've seen this<00:55:39.039><c> uh</c><00:55:39.160><c> start</c><00:55:39.400><c> to</c><00:55:39.760><c> evolve</c><00:55:40.240><c> already</c><00:55:40.920><c> but</c><00:55:41.119><c> I</c>

55:41

this uh start to evolve already but I this uh start to evolve already but I think<00:55:41.359><c> you're</c><00:55:41.559><c> still</c><00:55:41.760><c> going</c><00:55:41.880><c> to</c><00:55:42.000><c> see</c><00:55:42.599><c> branches</c>

55:43

think you're still going to see branches think you're still going to see branches uh<00:55:43.799><c> more</c><00:55:44.079><c> strategically</c><00:55:44.720><c> aligned</c><00:55:45.520><c> maybe</c><00:55:45.760><c> a</c>

55:45

uh more strategically aligned maybe a uh more strategically aligned maybe a hub<00:55:46.079><c> and</c><00:55:46.280><c> spoke</c><00:55:46.960><c> uh</c><00:55:47.119><c> type</c><00:55:47.280><c> of</c><00:55:47.440><c> mentality</c><00:55:47.960><c> where</c>

55:48

hub and spoke uh type of mentality where hub and spoke uh type of mentality where you<00:55:48.200><c> might</c><00:55:48.359><c> be</c><00:55:48.440><c> in</c><00:55:48.559><c> major</c><00:55:48.839><c> metropolitan</c><00:55:49.359><c> areas</c> you might be in major metropolitan areas you might be in major metropolitan areas and<00:55:49.720><c> have</c><00:55:49.839><c> a</c><00:55:49.920><c> larger</c><00:55:50.640><c> footprint</c><00:55:51.480><c> and</c><00:55:51.599><c> then</c><00:55:51.960><c> uh</c>

55:52

and have a larger footprint and then uh and have a larger footprint and then uh smaller<00:55:52.559><c> spoke</c><00:55:52.960><c> branches</c><00:55:53.400><c> in</c><00:55:54.079><c> uh</c><00:55:54.240><c> rural</c><00:55:54.680><c> areas</c>

55:54

smaller spoke branches in uh rural areas smaller spoke branches in uh rural areas or<00:55:55.280><c> less</c><00:55:55.559><c> populated</c><00:55:56.319><c> areas</c><00:55:57.039><c> I</c><00:55:57.119><c> think</c><00:55:57.240><c> you'll</c>

55:57

or less populated areas I think you'll or less populated areas I think you'll see<00:55:57.599><c> more</c><00:55:57.880><c> digital</c><00:55:58.280><c> walls</c><00:55:59.240><c> uh</c><00:55:59.319><c> you</c><00:55:59.440><c> heard</c><00:55:59.680><c> Wes</c>

55:59

see more digital walls uh you heard Wes see more digital walls uh you heard Wes talk<00:56:00.079><c> about</c><00:56:00.319><c> itms</c><00:56:00.880><c> we've</c><00:56:01.039><c> started</c><00:56:01.480><c> those</c><00:56:01.760><c> here</c>

56:02

talk about itms we've started those here talk about itms we've started those here so<00:56:02.520><c> itms</c><00:56:03.079><c> give</c><00:56:03.240><c> you</c><00:56:03.680><c> um</c><00:56:03.799><c> longer</c><00:56:04.520><c> extended</c>

56:04

so itms give you um longer extended so itms give you um longer extended hours<00:56:05.480><c> where</c><00:56:05.640><c> you</c><00:56:05.720><c> can</c><00:56:05.839><c> do</c><00:56:06.039><c> regular</c><00:56:06.400><c> Bank</c> hours where you can do regular Bank hours where you can do regular Bank branching<00:56:07.880><c> um</c><00:56:08.559><c> so</c><00:56:08.680><c> you'll</c><00:56:08.839><c> see</c><00:56:09.039><c> more</c>

56:09

branching um so you'll see more branching um so you'll see more self-service<00:56:10.079><c> and</c><00:56:10.240><c> self-guided</c><00:56:11.000><c> digital</c>

56:11

self-service and self-guided digital self-service and self-guided digital walls<00:56:12.039><c> in</c><00:56:12.400><c> branches</c><00:56:13.400><c> the</c><00:56:13.599><c> the</c><00:56:13.720><c> days</c><00:56:13.920><c> of</c><00:56:14.079><c> having</c>

56:14

walls in branches the the days of having walls in branches the the days of having a<00:56:14.640><c> 2,000</c><00:56:15.160><c> square</c><00:56:15.559><c> foot</c><00:56:16.359><c> uh</c><00:56:16.520><c> branch</c><00:56:16.799><c> in</c><00:56:16.960><c> a</c>

56:17

a 2,000 square foot uh branch in a a 2,000 square foot uh branch in a Suburban<00:56:17.720><c> Plaza</c><00:56:18.240><c> with</c><00:56:18.359><c> this</c><00:56:18.520><c> huge</c><00:56:18.799><c> parking</c>

56:19

Suburban Plaza with this huge parking Suburban Plaza with this huge parking lot<00:56:19.440><c> and</c><00:56:19.599><c> this</c><00:56:19.799><c> huge</c><00:56:20.720><c> um</c><00:56:21.119><c> drive-thru</c>

56:21

lot and this huge um drive-thru lot and this huge um drive-thru canisters<00:56:22.599><c> you'll</c><00:56:22.799><c> see</c><00:56:23.119><c> smaller</c><00:56:23.559><c> Footprints</c>

56:24

canisters you'll see smaller Footprints canisters you'll see smaller Footprints maybe<00:56:24.920><c> uh</c><00:56:25.039><c> in</c><00:56:25.160><c> some</c><00:56:25.400><c> cases</c><00:56:25.640><c> on</c><00:56:25.760><c> a</c><00:56:25.920><c> busy</c><00:56:26.640><c> uh</c>

56:26

maybe uh in some cases on a busy uh maybe uh in some cases on a busy uh Urban<00:56:27.280><c> setting</c><00:56:27.720><c> Street</c><00:56:28.599><c> uh</c><00:56:28.720><c> maybe</c><00:56:28.960><c> a</c><00:56:29.039><c> 400</c><00:56:29.799><c> foot</c>

56:30

Urban setting Street uh maybe a 400 foot Urban setting Street uh maybe a 400 foot little<00:56:30.520><c> office</c><00:56:30.799><c> with</c><00:56:30.920><c> a</c><00:56:31.039><c> digital</c><00:56:31.359><c> wall</c><00:56:31.559><c> and</c> little office with a digital wall and little office with a digital wall and just<00:56:31.799><c> a</c><00:56:31.960><c> little</c><00:56:32.240><c> office</c><00:56:32.520><c> where</c><00:56:32.720><c> people</c><00:56:32.960><c> can</c>

56:33

just a little office where people can just a little office where people can consult<00:56:33.960><c> about</c><00:56:34.359><c> doing</c><00:56:34.599><c> a</c><00:56:34.760><c> mortgage</c><00:56:35.160><c> or</c>

56:35

consult about doing a mortgage or consult about doing a mortgage or talking<00:56:35.799><c> about</c><00:56:36.440><c> financial</c><00:56:37.079><c> planning</c><00:56:38.079><c> um</c><00:56:38.280><c> so</c>

56:38

talking about financial planning um so talking about financial planning um so it's<00:56:38.559><c> going</c><00:56:38.680><c> to</c><00:56:38.760><c> be</c><00:56:38.880><c> a</c><00:56:39.039><c> combination</c><00:56:39.599><c> of</c> it's going to be a combination of it's going to be a combination of multi-channel<00:56:40.839><c> but</c><00:56:41.359><c> also</c><00:56:41.680><c> very</c><00:56:41.920><c> strategic</c>

56:42

multi-channel but also very strategic multi-channel but also very strategic again<00:56:42.680><c> when</c><00:56:42.799><c> we</c><00:56:42.920><c> put</c><00:56:43.119><c> the</c><00:56:43.240><c> brick</c><00:56:43.480><c> and</c><00:56:43.599><c> mortars</c> again when we put the brick and mortars again when we put the brick and mortars but<00:56:44.520><c> there's</c><00:56:44.760><c> definitely</c><00:56:45.119><c> still</c><00:56:45.359><c> a</c><00:56:45.520><c> need</c><00:56:45.880><c> and</c>

56:46

but there's definitely still a need and but there's definitely still a need and Technologies<00:56:46.960><c> is</c><00:56:47.000><c> going</c><00:56:47.240><c> help</c><00:56:47.400><c> us</c><00:56:47.520><c> deliver</c><00:56:47.880><c> to</c> Technologies is going help us deliver to Technologies is going help us deliver to everyone<00:56:49.240><c> thanks</c><00:56:49.599><c> Mike</c><00:56:49.880><c> so</c><00:56:50.400><c> digital</c><00:56:50.799><c> first</c>

56:52

everyone thanks Mike so digital first everyone thanks Mike so digital first Partnerships<00:56:53.720><c> intentionality</c><00:56:54.720><c> is</c><00:56:54.960><c> what</c><00:56:55.079><c> I</c>

56:55

Partnerships intentionality is what I Partnerships intentionality is what I hear<00:56:55.440><c> from</c><00:56:55.640><c> you</c><00:56:55.839><c> all</c><00:56:56.440><c> I</c><00:56:56.680><c> I</c><00:56:56.799><c> just</c><00:56:56.920><c> want</c><00:56:57.000><c> to</c><00:56:57.200><c> thank</c>

56:57

hear from you all I I just want to thank hear from you all I I just want to thank you<00:56:57.480><c> all</c><00:56:57.680><c> again</c><00:56:58.000><c> thank</c><00:56:58.160><c> you</c><00:56:58.240><c> to</c><00:56:58.400><c> our</c><00:56:58.599><c> speakers</c>

56:59

you all again thank you to our speakers you all again thank you to our speakers for<00:56:59.720><c> providing</c><00:57:00.240><c> such</c><00:57:00.480><c> insightful</c> for providing such insightful for providing such insightful information<00:57:01.760><c> and</c><00:57:01.920><c> engaging</c><00:57:02.359><c> our</c><00:57:02.559><c> audience</c>

57:03

information and engaging our audience information and engaging our audience today<00:57:03.799><c> and</c><00:57:04.039><c> attendees</c><00:57:04.640><c> thank</c><00:57:04.799><c> you</c><00:57:04.880><c> for</c>

57:05

today and attendees thank you for today and attendees thank you for spending<00:57:05.359><c> your</c><00:57:05.599><c> valuable</c><00:57:06.039><c> time</c><00:57:06.319><c> with</c><00:57:06.480><c> us</c> spending your valuable time with us spending your valuable time with us today<00:57:07.480><c> but</c><00:57:07.680><c> before</c><00:57:07.880><c> we</c><00:57:08.039><c> end</c><00:57:08.280><c> the</c><00:57:08.480><c> session</c><00:57:09.000><c> we</c>

57:09

today but before we end the session we today but before we end the session we do<00:57:09.359><c> have</c><00:57:09.480><c> a</c><00:57:09.599><c> few</c><00:57:10.039><c> requests</c><00:57:11.039><c> please</c><00:57:11.319><c> complete</c>

57:11

do have a few requests please complete do have a few requests please complete the<00:57:11.839><c> survey</c><00:57:12.559><c> we'll</c><00:57:12.760><c> send</c><00:57:12.960><c> it</c><00:57:13.079><c> to</c><00:57:13.200><c> you</c> the survey we'll send it to you the survey we'll send it to you immediately<00:57:14.000><c> after</c><00:57:14.240><c> today's</c><00:57:14.720><c> event</c><00:57:15.319><c> so</c><00:57:15.520><c> we</c>

57:15

immediately after today's event so we immediately after today's event so we can<00:57:15.799><c> improve</c><00:57:16.200><c> and</c><00:57:16.400><c> continue</c><00:57:16.720><c> to</c><00:57:16.880><c> bring</c><00:57:17.079><c> you</c> can improve and continue to bring you can improve and continue to bring you timely<00:57:17.640><c> and</c><00:57:17.799><c> relevant</c><00:57:18.280><c> topics</c><00:57:19.240><c> today's</c>

57:19

timely and relevant topics today's timely and relevant topics today's session<00:57:19.960><c> will</c><00:57:20.280><c> also</c><00:57:20.520><c> be</c><00:57:20.760><c> available</c><00:57:21.520><c> on</c>

57:21

session will also be available on session will also be available on YouTube<00:57:22.200><c> and</c><00:57:22.359><c> the</c><00:57:22.480><c> connecting</c><00:57:22.880><c> community's</c> YouTube and the connecting community's YouTube and the connecting community's website<00:57:23.880><c> in</c><00:57:24.079><c> about</c><00:57:24.319><c> two</c><00:57:24.760><c> weeks</c><00:57:25.760><c> visit</c><00:57:26.240><c> fed</c>

57:26

website in about two weeks visit fed website in about two weeks visit fed communities<00:57:27.160><c> at</c><00:57:27.400><c> fed</c><00:57:27.640><c> communities.</c><00:57:28.319><c> org</c><00:57:28.880><c> to</c>

57:29

communities at fed communities. org to communities at fed communities. org to access<00:57:29.520><c> additional</c><00:57:29.960><c> articles</c><00:57:30.920><c> resources</c><00:57:31.599><c> and</c>

57:31

access additional articles resources and access additional articles resources and data<00:57:32.280><c> about</c><00:57:32.520><c> Community</c><00:57:32.920><c> Development</c><00:57:33.480><c> Across</c> data about Community Development Across data about Community Development Across the<00:57:33.839><c> Federal</c><00:57:34.559><c> Reserve</c><00:57:35.559><c> follow</c><00:57:35.880><c> us</c><00:57:36.000><c> on</c><00:57:36.200><c> social</c>

57:36

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57:39

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57:41

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57:43

to Fed community's net newsletter by to Fed community's net newsletter by clicking<00:57:44.280><c> the</c><00:57:44.440><c> about</c><00:57:44.720><c> us</c><00:57:45.000><c> Tab</c><00:57:45.520><c> and</c><00:57:45.680><c> then</c><00:57:45.839><c> click</c>

57:47

clicking the about us Tab and then click clicking the about us Tab and then click subscribe<00:57:48.119><c> this</c><00:57:48.319><c> session</c><00:57:49.000><c> including</c><00:57:49.520><c> this</c>

57:49

subscribe this session including this subscribe this session including this including<00:57:50.440><c> the</c><00:57:50.559><c> slides</c><00:57:51.160><c> will</c><00:57:51.359><c> be</c><00:57:51.559><c> available</c>

57:51

including the slides will be available including the slides will be available and<00:57:52.119><c> featured</c><00:57:52.480><c> in</c><00:57:52.599><c> our</c><00:57:52.799><c> next</c><00:57:53.039><c> newsletter</c><00:57:53.839><c> and</c>

57:53

and featured in our next newsletter and and featured in our next newsletter and will<00:57:54.160><c> be</c><00:57:54.359><c> available</c><00:57:54.799><c> on</c><00:57:54.920><c> our</c><00:57:55.160><c> website</c><00:57:55.520><c> within</c> will be available on our website within will be available on our website within 2<00:57:55.920><c> weeks</c><00:57:56.400><c> of</c><00:57:56.520><c> today's</c><00:57:56.960><c> event</c><00:57:57.960><c> finally</c><00:57:58.640><c> check</c>

57:58

2 weeks of today's event finally check 2 weeks of today's event finally check out<00:57:59.079><c> recordings</c><00:57:59.599><c> of</c><00:57:59.839><c> previous</c><00:58:00.200><c> connecting</c> out recordings of previous connecting out recordings of previous connecting communities<00:58:01.160><c> webinars</c><00:58:01.960><c> on</c><00:58:02.160><c> fed</c><00:58:02.440><c> communities.</c>

58:03

communities webinars on fed communities. communities webinars on fed communities. org<00:58:03.839><c> also</c><00:58:04.160><c> check</c><00:58:04.440><c> back</c><00:58:04.760><c> periodically</c><00:58:05.319><c> from</c>

58:05

org also check back periodically from org also check back periodically from more<00:58:05.839><c> connecting</c><00:58:06.240><c> communities</c><00:58:06.839><c> events</c><00:58:07.720><c> our</c>

58:07

more connecting communities events our more connecting communities events our next<00:58:08.280><c> event</c><00:58:08.559><c> will</c><00:58:08.720><c> be</c><00:58:08.880><c> held</c><00:58:09.119><c> on</c><00:58:09.280><c> June</c><00:58:09.559><c> 20th</c><00:58:10.280><c> on</c>

58:10

next event will be held on June 20th on next event will be held on June 20th on the<00:58:10.640><c> economic</c><00:58:11.160><c> well-being</c><00:58:11.720><c> of</c><00:58:11.920><c> us</c><00:58:12.319><c> households</c>

58:12

the economic well-being of us households the economic well-being of us households in<00:58:13.480><c> 2023</c><00:58:14.480><c> featuring</c><00:58:15.000><c> results</c><00:58:15.520><c> from</c><00:58:15.680><c> the</c><00:58:15.799><c> board</c>

58:15

in 2023 featuring results from the board in 2023 featuring results from the board of<00:58:16.160><c> Governor</c><00:58:16.760><c> annual</c><00:58:17.039><c> shed</c><00:58:17.559><c> survey</c><00:58:18.559><c> thanks</c>

58:18

of Governor annual shed survey thanks of Governor annual shed survey thanks again<00:58:19.119><c> for</c><00:58:19.280><c> joining</c><00:58:19.640><c> connecting</c><00:58:20.160><c> communities</c>

58:20

again for joining connecting communities again for joining connecting communities and<00:58:21.079><c> we</c><00:58:21.240><c> hope</c><00:58:21.400><c> to</c><00:58:21.520><c> see</c><00:58:21.720><c> you</c>

58:28

soon o soon o [Music]