Independent Bank’s Michael M. Magee, Jr. appointed to American Bankers Association Post
December 19, 2008
The American Bankers Association has selected Michael M. Magee, Jr., president and CEO of Independent Bank, to serve on the ABA America’s Community Bankers Council.
Composed of approximately 100 bankers from all 50 states, the Council meets twice a year to advise the Association on issues affecting the nation’s community banks and their customers. The first meeting of the 2008-2009 Council was held Dec. 3-5 at the historic Mayflower Hotel in Washington, D.C.
Council members discussed how recent legislation and regulatory proposals have impacted their local communities, including Treasury’s capital purchase program, and fair value and mark-to-market accounting issues. They also weighed in on current economic concerns such as mortgage lending and issues surrounding the government conservatorship of Fannie Mae and Freddie Mac. In addition, the Council heard reports on the recent Presidential and Congressional election and its impact on banking.
“This is an opportunity to let our voice be heard on national issues that also affect us locally,” said Magee. “While we may come from many different communities, we share many common challenges.”
