JEFFERSON CITY, Mo. – The Missouri Independent Bankers Association represents 178 banks in the state.
The goal of the association is to work for the policy interests of community banks. In the current legislative session, the association is focused on bills to change the Unification Commission Code, condo foreclosure where banks have been responsible for fees in arrears, and making patent trolls illegal. The association is taking a particular interest in SB 705, which allows for the public trading of municipal bonds.
“Community bankers are very much involved with shopping bonds to school districts,” MIBA Executive Director Jerry Sage said. “It sounds great on paper but not so much in practice.”
The association was founded to keep national banks from moving into the state. It succeeded until 1996 when it was federal mandated that national banks be allowed to operate in Missouri.
“We just look out for the little guy,” Executive Director Jerry Sage said.
One of the association’s greatest legislative triumphs was a bill passed in 1983 allowing one bank to invest in another bank. This allowed for the creation of the Missouri Independent Bank, which represents 250 banks in the state.
Sage is the lead lobbyist for the association. He is retiring in June after nearly 40 years with MIBA. Matthew Rute will take over as executive director and lobbyist.