NBA Friends,

Congratulations to Nebraska Banker and former NBA Chair Mike Jacobson on his recent appointment as the State Senator for Legislative District 42, which includes North Platte. He brings a great deal of knowledge, experience and leadership background to this position.

If you follow Nebraska’s government, politics or history, you know that the 49-member unicameral Legislature is the only single-house legislature in the country. The body’s nonpartisan structure is also unique. While not perfect, the current system allows for substantial public input, dialogue and collaboration on important public policy issues.

The banking industry is fortunate to have four bankers who hold seats and vital committee and leadership assignments within the Legislature.

Former NBA Chairs John Stinner (District 48) and Matt Williams (District 36) were elected in 2014 and reelected in 2018. Because of term limits, both are serving in their final year at the Legislature.

Sen. Stinner serves as Chair of the Appropriations Committee. He has guided the state’s budget through both periods of shortfalls and excessive revenues, including navigating the challenges of the pandemic. He is especially diligent about growing and protecting the state’s Cash Reserve Fund and questioning the long-term returns on state program expenditures.

Sen. Williams serves as Chair of the Banking, Commerce and Insurance Committee. He works closely with the banking industry and your NBA government relations team on issues like financial elder abuse protections, creating the state’s Single Bank Pooled Collateral Program, cryptocurrency bank charters, financial literacy standards and workforce housing. His banking experience has proven invaluable in navigating these complicated topics.

Another banker, Sen. Rob Clements (District 2), was appointed and subsequently elected to his position in 2018. He serves as a member of the Appropriations Committee, where his background in budgeting and actuarial science has been a valuable asset. Sen. Clements is currently running for reelection.

I am especially thankful for the past, present and future public service of these bankers. Recruiting and electing competent leaders who can process and analyze complicated issues while seeking win-win scenarios cannot be understated. Voter-implemented legislative term limits have altered the number and experience of the candidates who are willing to put their names on the ballot. Term limits have also reduced the long-term institutional knowledge within the body. In addition, the $12,000 salary for state senators makes pursuing a legislative seat financially impossible for a significant number of potential candidates.

Nebraska bankers must proactively encourage candidates to run for local, state and national elected offices. Bankers can get involved by vetting and recruiting candidates, hosting candidate coffees or fundraisers, putting up campaign signs or flyers and other activities. Your bank and its employees could also contribute to efforts like the NBA BankPAC. At the direction of the NBA BankPAC Committee, these collective banker funds support pro-banking and pro-business candidates.

Finally, as leaders in your community, I strongly encourage you and/or members of your bank’s staff to consider running for office like the four bankers currently serving in the Legislature!