Jacobsen added to IBA board
The Iowa Bankers Association represents 341 banks and savings institutions, which lend $41 billion to individuals and businesses, donate $35 million and 874,000 volunteer hours to community causes and employ nearly 15,000 Iowans.
At the helm of the IBA is a 15-member board, which now includes Dean Jacobsen, the president of Northwest Bank in Spencer.
Jacobsen assumed his role during the IBA national convention, which took place Sunday through Tuesday.
"The convention is a kick-off for the new fiscal year, which starts Oct. 1," Jacobsen said. "The first speaker was Sal Giunta, who received the Medal of Honor. It was very educational. The general session updated us on the happenings of IBA and there were educational speakers and breakout sessions."
While the convention marked the beginning of Jacobsen's tenure on the IBA state board, he had served as secretary of the northwest district for two years.
According to Jacobsen, "IBA is very, very comprehensive."
"Number one, we represent Iowa banks," Jacobsen said. "We have the state's best lobbyists that represent bankers in Des Moines and Washington, D.C."
Jacobsen will be joining other board members to visit Capitol Hill in June to lobby Congress about matters important to the IBA. He used the Dodd-Frank Wall Street Reform and Consumer Protection Act, which he said has grown to thousands of pages since being signed into law in July 2010, as an example.
"Our goal is to help them understand not only how that (bill) affects banks, but how it affects you as a customer," Jacobsen said. "We certainly understand the need for regulations and rules, but making sure they affect our customers positively is our mission."
IBA includes personnel who explain such regulations and assist banks with compliance questions.
Under the IBA umbrella, Iowa Bankers Insurance Services offer group health, liability and life insurance to Iowa banks.
Iowa Bankers Mortgage Corporation is another division of IBA.
"IBMC packages loans for small banks so they can provide long-term, fixed-rate mortgages to their customers," Jacobsen said.
Jacobsen is excited to address each aspect with a northwest Iowa perspective.
"I think it's very important to have local representation because I'll be able to discuss issues with my peers in northwest Iowa, learn their concerns and take them back to the IBA," Jacobsen said.
Northwest Iowa will be well represented on the board, as Bank Midwest Chairman and CEO Steve Goodenow, of Spirit Lake, will serve as chairman.
Past board chairmen include Northwest Bank CEO Dwight Conover, Northwest Financial Corp. President Jeff Plagge and Roger Claypool, the president and CEO of First National Bank, a Northwest Bank affiliate in Le Mars.
Jacobsen is pleased to follow in their footsteps as a board member.
"I'm humbled to be able to represent northwest Iowa and I'm looking forward to the quality relationships I'll form in my two years on the board," he said. "Being able to draw on those bankers for the future will be invaluable to me and Northwest Bank."