Visit us online: Website | NCBA LinkedIn | NCEL LinkedIn NCBankers On the Road! The NCBA is on the road! NCBA President & CEO Peter Gwaltney was joined by NCBA Chair Jim Marshall, President & CEO of blueharbor bank, and CBS Senior Vice President Darrell Rogers this week as the trio set out to visit with banks across North Carolina. Together, they visited with community bank leaders from Fuquay-Varina to Hertford, making stops at institutions of all sizes. Upcoming Training and Conferences Branch Manager Bootcamp - Fall Series - Next session: September 25 Bank Trainers Conference - October 7-9 Professional Women's Conference - October 23 CAVA RMA Commercial Lending School - October 20-24 NC Emerging Leaders Conference - November 3-4 NCBA Management Forum - November 4-6 The purpose of the trip was simple but vital: connect directly with bankers, hear about the challenges and successes shaping their work, and reinforce the trusted partnerships that define the NCBA and CBS relationship with our members. “Wherever you are in North Carolina, we want you to know that we’re here to help,” Gwaltney said. “Don’t hesitate to make us your first call.” It has been a pleasure getting to meet with so many of our members face-to-face, and this is just the beginning. We look forward to more banker visits as the NCBA road trip continues in the weeks and months ahead! Industry Advocacy 2025 NC BankPAC - Did You Make the Honor Roll? For more than 30 years, NC BankPAC has ensured that banking’s voice is heard by supporting candidates who understand our industry and share our policy objectives. The 2025 NC BankPAC Honor Roll recognizes bankers and businesses whose generous contributions keep our industry strong. Banker News Triangle Business Journal: “Bank Crunch?” The Triangle Business Journal has published an article entitled “Bank Crunch: Bank headquarters dwindle in North Carolina as consolidation heats up.”  Reporter Lauren Ohnesorge writes, “In just 20 years, the number of state-chartered banks has plunged by more than half, from 88 to 33, according to data from the North Carolina Commissioner of Banks.”  The article goes on, however, to note how bank assets have grown dramatically as the state’s population has also grown. “In 2005, the 88 state-chartered banks added up to just under $142 billion in assets. Today’s 33 account for more than $823 billion, led by Truist Bank (NYSE: TFC) of Charlotte and First Citizens (Nasdaq: FCNCA).” The article features numerous quotes by NC bank CEOs and also explores how bank headquarters locations influence NC employment numbers, community investments, and other matters. State Legislative & Regulatory Update General Assembly to Reconvene Legislators are laying the groundwork for a return to session next week in Raleigh. House and Senate leaders have indicated that the General Assembly’s focus will be on criminal justice reforms.  In a press conference, Senate President Pro Tem Phil Berger and House Speaker Destin Hall said that they plan to bring forward public safety legislation, motivated in part by the stabbing death of a woman on a Charlotte light rail train last month that garnered considerable national attention.  Left: NC Senate President Pro Tem Phil Berger Right: NC House Speaker Destin Hall They explained that the perpetrator had an extensive criminal history and was released from jail on only a written promise to appear after an arrest back in January.  "Over the course of the past couple of weeks, we as a General Assembly have been thinking about what we can do to prevent the tragedy that happened in Charlotte from ever happening again in this state," Hall said. Barring further changes to their legislative schedule, the session is expected to last only a few days, with session scheduled to conclude on Thursday, September 25th.  Federal Legislative & Regulatory Update SEC Looking to Eliminate Unnecessary Reg Burden On Monday, President Donald Trump said that U.S. companies should be allowed to report earnings every six months instead of on a quarterly basis. “Subject to SEC Approval, Companies and Corporations should no longer be forced to “Report” on a quarterly basis (Quarterly Reporting!), but rather to Report on a ‘Six (6) Month Basis,’” President Trump said on social media. “This will save money, and allow managers to focus on properly running their companies.” In response, the SEC said in a statement that it is pursuing a proposal to “further eliminate unnecessary regulatory burdens on companies.” The president previously called for a change in 2018, saying that it would cut costs and discourage shortsightedness on the part of publicly traded companies. Cook’s Status on Fed Board  A federal district court last week granted a temporary restraining order blocking President Donald Trump’s attempt to remove Federal Reserve Governor Lisa Cook while the court considers the case. The Trump administration appealed the decision. However, in a 2-1 decision, an appeals court said this week that – given the unique circumstances of the case and Cook’s strong likelihood of success on her claim that she was denied due process – it would not overturn the lower court decision. Federal Reserve Governor Lisa Cook #RISE at the Professional Women's Conference | October 23, 2025 Navigating the Future with Confidence and Resilience Join a powerful community of women in banking and accounting as we #RISE—Realize, Inspire, Succeed, Empower—together. You’ll experience an energizing day of learning, networking, and inspiration featuring standout voices in leadership, technology, personal finance, and wellness. From sessions on the psychology of money, AI-driven career confidence, and ethical decision-making, to deeply personal conversations around mental health and neurodiversity in the workplace—you’ll gain insights designed for both personal and professional growth. Don’t miss this opportunity to connect and recharge at a conference created for women, by women—where every detail is designed with your goals in mind. Learn More & Sign Up   Miran Confirmed to Serve on Federal Reserve Board On Monday, the Senate voted to confirm the nomination of economist Stephen Miran for an open seat on the Federal Reserve board. Miran had been serving as chair of the Council of Economic Advisers, which advises the President on economic policy. Miran fills a board seat previously held by former Fed Governor Adriana Kugler, who stepped down last month. Miran will serve out the remainder of Kugler’s term, which ends January 31, 2026.  Fed Governor Stephen Miran New Transaction Limit for FedNow The FedNow Service network transaction limit will increase from $1 million to $10 million in response to growing commercial demand, effective November 2025. Financial institutions will continue to have flexibility to set lower transaction limits based on internal risk parameters and business needs. The FedNow Service currently has more than 1,400 participating organizations across all 50 states.  Discover the Coach Approach with Thomas Greek at the NC Emerging Leaders Conference - November 3-4 Are you constantly solving problems for your team, leaving you feeling like a bottleneck instead of a leader? Do you want to develop a team that’s more self-sufficient, engaged, and innovative? At this year's NC Emerging Leaders Conference, thought leader Thomas Greek will show how shifting from director to coach can transform your leadership. ✅ Ask purposeful questions that spark insight ✅ Listen actively to uncover real issues ✅ Provide feedback that empowers growth instead of compliance Walk away with practical tools to equip your team for extraordinary results. Learn More & Sign Up   AML Compliance Costs The FDIC is seeking approval from the Office of Management and Budget to conduct a survey on the compliance costs with anti-money laundering and countering the financing of terrorism regulations. The survey will seek information on the direct compliance costs incurred by FDIC-supervised insured depository institutions and, to the extent these expenses overlap with those of other activities (such as fraud and credit card monitoring), the amount attributable to AML/CFT compliance.  OCC Monitoring Potential Impact of Stablecoins on Bank Deposits Speaking at a conference sponsored by the digital currency information group CoinDesk, Comptroller of the Currency Jonathan Gould signaled that the OCC is closely monitoring the impact of stablecoins on the banking industry.  “We’re sensitive to concerns that some have raised about deposit flight from the banking system,” Gould said. “We will be designing a regulatory and supervisory framework to address that specifically.  Jonathan Gould, Comptroller of the Currency ... If it looks like deposits are dramatically fleeing the federal banking system, that would be a source of concern at the OCC and I’m sure across other federal banking agencies too, and we would have, I think in large measure, control over whether or not that actually happened.” Talk Emerging Technology with Sultan Meghji at the NCBA Management Forum | November 4-6 Innovation moves fast — and today’s environment demands that banks not only keep up, but lead. At the NCBA Management Forum, keynote speaker Sultan Meghji, Co-Founder and CEO of Frontier Foundry, will share how banks can embrace emerging technology in a pro-innovation environment without sacrificing safety. Join Sultan at this year’s Management Forum to: ✅ Discover how innovation and risk management can work hand-in-hand ✅ Gain practical tools to adopt new technologies quickly and responsibly ✅ Position your institution for success in a fast-changing landscape Stay ahead of the curve — don’t miss this keynote session! Learn More & Sign Up   Warning about Loophole in Stablecoin Law Aaron Klein of the Brookings Institution, a DC-based nonprofit known for its nonpartisan research on public policy issues, is sounding a warning about a loophole in the Guiding and Establishing National Innovation for U.S. Stablecoins Act, or “GENIUS Act” that President Trump signed into law in July.  As Klein notes in an op-ed, “The law is premised around a simple trade-off: Stablecoins are exempt from bank-like regulation and in exchange are prohibited offering interest on their coins.”  He went on to warn: “The law’s ink is not dry and crypto firms have already found a loophole, calling interest ‘rewards.’ If we don’t close this loophole, it could cause massive problems resulting in losses by retail crypto holders, a bailout of big crypto, or a financial crisis.” Differing Court Decisions Over Fed Regulation of Debit Interchange Fees A federal judge in Kentucky has granted the Federal Reserve’s motion for summary judgment in a lawsuit seeking to overturn how the Fed calculates debit card interchange fees. The Durbin Amendment of the Dodd-Frank Act requires the Fed to set reasonable and proportional interchange fees for debit card transactions.  In 2022, Linney’s Pizza in Frankfort, Kentucky, sued the Fed over the regulation used to implement the law, alleging that the Fed exceeded its statutory authority because it included improper costs in its calculation, resulting in too high a fee cap. The judge granted the Fed’s motion for summary judgment and dismissed the lawsuit, finding that the Fed’s regulation is not contrary to law, nor is it arbitrary and capricious. However, a federal judge in North Dakota reached a different conclusion last month in a separate lawsuit brought by a group of state retailer trade associations and truck stop Corner Post.  The judge in that case ruled that the Durbin Amendment clearly prohibits the consideration of any costs except for incremental authorization, clearance or settlement costs in setting fees. Both court decisions could be further appealed.  NCBA Announcements Build Connections with the NCEL Mentorship Program | Application Deadline: October 30, 2025 The North Carolina Emerging Leaders Mentorship Program is now accepting applications for both mentors and mentees — and participation is open to all banking professionals, not just NCEL members. This six-month program (January–June 2026) is a unique opportunity to share knowledge, develop leadership skills, and build strong professional relationships. 📍 Kick-off Meet & Greet: January 7, 2026 – Greensboro, NC 💬 Monthly mentor/mentee meetings: Virtual or in-person (at least one in-person required) 📅 Application Deadline: October 30, 2025 Help shape the future of North Carolina’s banking community — apply today! Learn More & Apply   Skill Up at the Branch Manager Bootcamp | Next Session: September 25 What does your branch have that alternate branch channels and non-bank competitors lack? You and your people! The Branch Manager Bootcamp series with Jennie Mitchell returns next week, providing next generation managers with the knowledge and tools they need to maintain a dynamic and profitable branch. Learn More & Sign Up   Earn Credits through Online Professional Development ABA Bank Teller's Certificate - Self-Paced - 1.5 CAFP; 1.5 CRCM; 1.25 CFMP, CSOP; 1 CCTS, CISP, CRSP, CTFA  Accounting Basics/Refresher for Financial Professionals - September 29 - 1 CPE Credits Reg E Decoded: A Workshop on Electronic Funds Transfer Regulations - October 1 - 3 CRCM Credits Confident Delegation for Bank Managers: A Leadership Workshop - October 2 - 2 SHRM-CP Credits The State of UDAAP: Where Are We Now with All the Regulatory Changes? - October 3 - 2.5 CRCM Credits Fair Lending Essentials and Update - October 7 - 2 CRCM Credits Mastering Capital Transactions & Schedule RI-A: Elevate Your Call Report Expertise - October 8 - 1 CPE Credits Appraisal Bias, Automated Valuation Models (AVMs), and Reconsiderations of Value (ROVs): How Should We Handle This? - October 9 - 2.5 CRCM Credits Lending Compliance 101 - October 10 - 2.5 CRCM Credits Understanding the E-SIGN Act: Requirements for Deposit Staff and Lenders - October 14 - 2 CRCM Credits IRAs Part 3: Distributions to IRA Owners and Beneficiaries - October 15 - 2.5 CISP Credits Welcome to Banking - October 16 - 2 CRCM Credits Coaching Tellers to Excellence - October 16 - 2 SHRM-CP Credits Mastering CECL Model Validation: Back-Testing for Accuracy and Success - October 17 - 1 CPE Credits Director Compensation Trends and Compensation Committee Best Practices - October 21 - 1.5 SHRM-CP Credits Bank Accounting: Simplifying Complex Transactions - 4 Part Series Part 1 - October 21 - 8 CPE Credits 2025 BSA Officer Update: All-Day Streaming - October 22 - 7 CRCM Credits IRAs Part 4: Successfully Auditing your IRA Files - October 22 - 2.5 CISP Credits Bi-Monthly Compliance Briefing - October 2025 - October 23 - 2.5 CRCM Credits Best-Ever Compliance Checklists for Commercial Loans - September 23 - 2.5 CRCM Credits Bank Accounting: Simplifying Complex Transactions - 4 Part Series Part 2 - October 28 - 8 CPE Credits Marketing and Advertising Compliance - 3 Part Series- Part 1 - October 29 - 7.5 CRCM Credits Bank Accounting: Simplifying Complex Transactions - 4 Part Series Part 3 - October 30 - 8 CPE Credits Bank Accounting: Simplifying Complex Transactions - 4 Part Series Part 4 - October 31 - 8 CPE Credits Bank Lines of Business (ABA) - October 6 – 31 Commercial Lending (ABA) - October 13 – January 16 Consumer Lending (ABA) - October 27 – February 27 Managing Interest Rate Risk (ABA) - October 27 – December 29 Need credits? Earn SHRM, AAP, APRP, CRCM, CPE and more with our partnered webinars! CBS Spotlight Seizing the Data Advantage: Building a Data Lakehouse with Machias Savings Bank Join arkatechture for an inside look at how Machias Savings Bank is tapping into the power of their data with a modern data lakehouse. Discover how they selected and sequenced their data sources, built a conformed data model (including 3rd party data), and turned trusted data into actionable insights.  This webinar will showcase real use cases like industry analysis dashboards, maturity reports, collections tracking, commercial customer segmentation, and the projects currently shaping Machias’ data strategy. Whether you’re exploring your own data journey or looking to maximize your existing investments, you’ll walk away with practical ideas to elevate your analytics capabilities. We'll be joined by Jamie Clisham, SVP of Analytics & Product at Machias Savings Bank as she details leading the bank through its data journey.  Learn More & Sign Up   Industry Update Bank of America Raises Minimum Hourly Wage to $25 Bank of America has announced a new minimum hourly wage of $25, effective in October. This change raises annual pay for full-time employees above $50,000 and also applies to part-time hourly roles. The increase will affect thousands of BofA’s 213,000 employees. Some full-time employees at the minimum pay level will now earn $20,000 more per year than they did eight years ago. “Our strong and rising minimum starting salary provides opportunities for our teammates to build a long-term career at Bank of America,” said Sheri Bronstein, BofA’s Chief People Officer. “Competitive compensation is one of the many ways we are helping to drive American economic growth and opportunity.” Bank of America, the nation’s second-largest bank, has grown its assets nearly 50% since 2010 to $3.4 trillion. North Carolina remains its largest employment market, with 22,000 employees statewide—19,000 of them in the Charlotte region. Carter Bank Opens Loan Production Office in Gastonia Carter Bank has opened a new Loan Production Office in Gastonia, N.C., reinforcing the bank's commitment to growth in North Carolina. This expansion follows recent openings and expansions in Winston-Salem, Raleigh, and Mooresville. “Our new location in Gastonia highlights our dedication to supporting thriving business communities,” said Brad Langs, President and Chief Strategy Officer of Carter Bank. “Over the past 18 months, we’ve successfully entered Raleigh and Winston-Salem and enhanced our presence in the Charlotte area by opening the Lake Norman branch. We look forward to building strong relationships with local businesses and providing them with tailored financial solutions for success.” Citigroup Picks Ballantyne for 785-Job Tech Hub Citigroup Technology Inc. has leased 58,000 square feet at the Gragg Building in Charlotte’s Ballantyne area for a new tech and operations hub. The $16.1 million expansion will shift Citi from WeWork uptown and create 510 new jobs by 2027, with 785 employees total. State and local grants exceed $12 million. Roxboro Savings Bank EVP Keith Epstein Named Vice Chairperson of the NC Financial Literacy Council Keith Epstein, Executive Vice President of Roxboro Savings Bank, has been named Vice Chairperson of the North Carolina Financial Literacy Council (FLC). Established by the General Assembly in 2009 and housed within the NC Department of Justice, the FLC works to strengthen financial literacy education and expand financial knowledge across the state. In his leadership role, Epstein will help guide the Council’s mission to equip North Carolinians with the tools they need to make informed financial decisions. Keith Epstein, Roxboro Savings Bank EVP  Stuart Mills, Executive Director of Partners for Children and Families, Inc. and Chairperson of the NC FLC, praised Epstein’s contributions: “It has been a great pleasure working with Keith Epstein as members of the North Carolina Financial Literacy Council where he serves as Vice-Chairperson. Keith has contributed immeasurably to the work of the Council. Keith brings a rigorously analytical and data driven approach to our work, including our recently completed strategic planning process. He also has a wealth of relationships and brings to the Council the wisdom of his community which keeps us practical and grounded. I have never heard Keith speak an unkind or judgmental word, instead he is the first to thank his fellow council members for their own particular contributions. He is an essential partner.” As recently reported in the NCBankers Bulletin, the NC Financial Literacy Council invites North Carolina students to showcase their creativity and financial smarts in the statewide “Budgeting in 2025: Plan, Save, Thrive!” contest.  Open to grades K–12 across all public, private, charter, and home schools, this competition encourages students to explore what budgeting means today through essays, visual art, videos, posters, or creative writing. Regional winners will advance to a statewide showcase, with top entries honored at a celebration event in early 2026. Prizes include scholarships and recognition on the NC Department of Public Instruction website and social media.  Submissions are due by December 19, 2025. Words of Wisdom No matter how thin you slice it, there will always be two sides. -  Baruch Spinoza NC Bankers Association | 3601 Haworth Drive | Raleigh | NC | 27609 | US If you no longer want to receive emails regarding the NCBankers Bulletin, please profile.