Tingle Tapped to Represent Maryland on FOTB Banker Board

Reid Tingle, President/CEO of Bank of Ocean City, has been appointed to represent Maryland on FOTB's Nationwide Banker Board. Tingle graduated from East Carolina University with a degree in Economics and has been working in the local banking sector ever since. Prior to joining Bank of Ocean City, he served in various capacities at Atlantic Bank, the local affiliate of First Virginia. 

Reid is actively involved in the community and serves as an advocate for Community Banking. His current roles include; Board Member for the Independent Community Bankers Association (ICBA), Chairman of the ICBAPAC committee, and member of the ICBA Federal Delegate Board and Policy Development Committee. In addition, he serves as a Director for the Maryland Bankers Association, and is a Board member and former Chairman of Maryland Bank Services, Inc. His community involvement includes; Past President and current Board member of Diakonia, Inc., Past Secretary of the Ocean City Development Corporation and Past President and former Board member of The Quiet Resorts Charitable Foundation.

If you are from a state with a vacancy and interested in being considered as a Banker Board member, please contact mike@mikewinder.com

BANKER NEWS BITS:

• An ICBA analysis of publicly available data reveals that "credit union acquisitions of community banks harm the communities that can least afford it." For example, after tax-exempt credit unions acquired tax-paying banks, SBA lending fell 80% of the time in affected areas.

• "The hidden cost of Credit Union bank purchases: Louisiana communities stand to lose millions in local tax revenue" reads the headline of a column in the Natchitoches Parish Journal. Written by former FOTB Executive Committee member, Ken Hale, who is the President and CEO of BOM Bank, details how the acquisition of Louisiana banks by credit unions isn’t just a business transaction—it’s a shift with long-lasting fiscal consequences for local governments and the communities they serve. 

• The House Financial Services Committee passed the Community Bank LIFT Act (H.R.5276) this week, a bill led by Congresswoman Young Kim (CA-40). This legislation intends to reduce burdensome regulations on community banks and empower them to reinvest in Main Street. Specifically, the bill would expand the asset threshold for qualifying community banks from $10 billion to $15 billion, lower the Community Bank Leverage Ratio range from 8–10 percent to 6–8 percent, and require federal regulators to review and update the framework to simplify compliance and support new community bank formation.

• Politico reports this week that "House GOP moves to combine central bank digital currency ban with crypto bill." A spokesperson for House Financial Services Chair French Hill said in a statement that “passing both the CLARITY Act and Anti-CBDC bill were key priorities for members of the House.”