Before I was sworn in as NMBA President, a number of past presidents told me that one of the highlights of my year would be the President’s annual statewide “road trip” to meet with bankers and legislators in their hometowns. My predecessors were right and the purpose of the meetings was quite simple. We wanted to personally thank legislators for their service to the state and bankers for their continued support for the NMBA.
I have decided to treat this edition of the President’s Message as a bit of a travelogue. In November and December, John Anderson and I spent multiple weeks traveling to Carlsbad, Roswell, Clovis, Farmington, Santa Fe, Albuquerque, and Las Cruces. During each meeting, we learned of local needs and the economic situations of particular regions within the state.
In Carlsbad, we found a community that was booming: traffic jams, new hotels and restaurants, man-camps, jammed parking lots, and “Help Wanted” signs in many retail windows. Of course, prosperity brings a real strain on infrastructure, schools, and roads. Hopefully, the legislature will provide capital outlay for additional funding in 2023 to meet these needs.
Then, we were off to Roswell! We had an outstanding turnout of bankers and legislators at our stop. We had a lively debate concerning the local economy, the importance of oil and gas to our state, the general election results, and the NMBA legislative agenda – with particular emphasis on the state bank. Finally, we were treated to an evening with the recently elected Mayor of Roswell, Tim Jennings. Tim served 35 years in the New Mexico Senate and has been a board member of Pioneer Banks for 41 years. He will assist John Anderson during the 2023 session as a part-time NMBA lobbyist.
Next stop: Clovis. We had a wonderful meeting with Senator Stuart Ingle, Representative Jack Chatfield, and a host of bankers. Both legislators were concerned with how best to spend the $3.5 billion of new money. Saving at least half would be best. When I asked what would be best for the state, the Senator quipped that many legislators are against any deal they do not participate in. I then asked one of our bankers what he recommended for lunch, he humorously responded, “Anything with gravy or ranch dressing.”
Next, we traveled to another terrific community, Farmington. We had a big turnout of bankers and legislators (five of the six invitees). For our legislative dinner event, there was a spirited discussion concerning the importance of the oil and gas industry to our state, the state-wide health care crisis, crime, and how to best spend the $3.5 billion windfall for the 2023 Legislature. I want to personally thank Sheila Mathews, CEO and President of Four Corners Community Bank and an NMBA Board Member, for making our evening event a great success. She is truly remarkable.
Moving ahead, John and I made our way to Santa Fe. Representative Christine Chandler (D-Los Alamos), Chair of the House Taxation and Revenue Committee, and Senator Peter Wirth, Senate Majority Leader, briefed the bankers on matters likely to be included in the omnibus tax bill for 2023. All taxes – including gross receipts, personal income, corporate, property, and excise – may be addressed. I want to thank Century Bank CEO and President Max Myers for providing such delicious food during our stop in Santa Fe. It was a major component of making our visit to the state’s capital a huge success.
Our next lunch in Albuquerque was another success. We hosted several legislators, including two of our newly elected state Representatives. Not surprisingly, the topic that consumed much of the discussion was crime, followed by health care and the homeless crisis.
Our final lunch was held in Las Cruces at the Double Eagle Restaurant in Old Mesilla. Take it from me: the Double Eagle has to be one of the most beautiful properties in the state of New Mexico. We had as our special guest Bryan Ashenbaum, the newly appointed Dean of the New Mexico State University College of Business. It will be interesting to follow Bryan’s career at NMSU. He clearly has the energy and intellect to do an excellent job. We had the opportunity to discuss the plans for an NMSU/NMBA internship program, which we hope to get underway in 2023.
What are my takeaways from this trip? First of all, we have a beautiful state. Secondly, our potential is unlimited with abundant natural resources, two national laboratories, several military installations, a flourishing film industry, a thriving banking industry, and 112 dedicated New Mexico state legislators. Finally, the 2023 Legislature got underway on January 17 for 60 days. We will inform you of current legislative events as the session progresses.
I wish you all a happy and prosperous new year!
