Members and guests experienced two informative sessions highlighting the prospective economic and banking climate for the upcoming year. They also enjoyed a full course dinner as well as the camaraderie of the cocktail hour following the afternoon mini-session.

Craig Dismuke began the dinner presentation by summarizing the economic factors experienced in 2011 and noted that we can expect more of the same for 2012. The primary factors included the “drama” of the European economy, weak domestic growth and the intervention of the central bank. Craig noted how the banking sector struggled throughout 2011, global stock prices fell while domestic stock prices were stable. He noted that although housing starts have flattened, the backlog of distressed properties and falling home prices continue to hurt consumer sentiment.

Craig summarized the key economic developments for 2012:

• Private investment will continue to be weaker than needed;
  
• Consumption will slow in the first half of 2012;
  
• Europe will continue to seek “half step” solutions;
  
• U.S. elections will have a big impact on domestic economic direction.

Justin Hoogendoorn presented strategies to mitigate risk and stabilize earnings for depository institutions at the afternoon mini-session. He began by reviewing recent economic factors. He noted that employment conditions are beginning to show improvement, but jobs recovery is still lackluster; the downside for housing remains and the European debt crisis continues.