[Congressional Record (Bound Edition), Volume 150 (2004), Part 10]
[House]
[Pages 13176-13177]
[From the U.S. Government Publishing Office, www.gpo.gov]




                        COMMUNITY BANKING MONTH

  Mr. RENZI. Mr. Speaker, I move to suspend the rules and agree to the 
resolution (H. Res. 591) expressing the gratitude of the House of 
Representatives for the contributions made by America's community banks 
to the Nation's economic well-being and prosperity and the sense of the 
House of Representatives that a month should be designated as 
``Community Banking Month.''
  The Clerk read as follows:

                              H. Res. 591

       Whereas, since our Nation's founding, community banks have 
     supported their communities as they prospered and grew, and 
     today more than 8,700 community banks continue the tradition 
     of giving back to their local communities through nearly 
     40,000 banking offices;
       Whereas, with more than $2,275,000,000,000 in assets, 
     community banks know that when money stays in town it becomes 
     a renewable resource, creating an economic cycle that 
     constantly revitalizes and stimulates local communities;
       Whereas community banks are working citizens in their 
     communities in every sense of the word with more than 514,000 
     full-time and part-time employees;
       Whereas these banks have made significant contributions to 
     the economic well-being of our Nation through their financial 
     support, their dedication as good neighbors and, above all, 
     their service as financially sound and reliable sources of 
     economic lifeblood in our communities;
       Whereas the Nation's community banks focus on the 
     prosperity of individuals and small businesses in their 
     hometowns and have reinvested, on average, 95 percent of 
     their loan portfolio in their own communities through home 
     mortgages and small business, agricultural, and student 
     loans;
       Whereas community banks play a significant role in local 
     economic development efforts by financing new businesses and 
     stimulating the economy to produce jobs and new opportunities 
     and, as a group, they contribute an important and strong part 
     of the Nation's economic fabric;
       Whereas community banks have made nearly 3,160,000 loans to 
     small businesses, totaling over $275,500,000,000 and nearly 
     720,500 loans to small farms, totaling nearly 
     $37,500,000,000;
       Whereas community banks also enjoy the trust of their 
     customers; indeed, community banks are just neighbors are 
     helping neighbors build their homes, save for higher 
     education, plan for retirement and fulfill other dreams; and
       Whereas community banks have long helped in the development 
     of our communities and the Nation as a whole, and are fully 
     prepared to make many more contributions: Now, therefore, be 
     it
       Resolved, That--
       (1) the House of Representatives expresses its gratitude 
     for the contributions made by America's community banks to 
     the Nation's economic well-being and prosperity; and
       (2) it is the sense of the House of Representatives that--
       (A) a ``Community Banking Month'' should be designated to 
     raise public awareness of, and public appreciation for, the 
     contributions of the helpful institutions that are our 
     Nation's community banks; and
       (B) the President should issue a proclamation calling on 
     the people of the United States to observe the month with 
     appropriate programs and activities.

  The SPEAKER pro tempore. Pursuant to the rule, the gentleman from 
Arizona (Mr. Renzi) and the gentleman from Massachusetts (Mr. Capuano) 
each will control 20 minutes.
  The Chair recognizes the gentleman from Arizona (Mr. Renzi).


                             General Leave

  Mr. RENZI. Mr. Speaker, I ask unanimous consent that all Members may 
have 5 legislative days within which to revise and extend their remarks 
on this legislation and insert any extraneous materials on the 
resolution.
  The SPEAKER pro tempore. Is there objection to the request of the 
gentleman from Arizona?
  There was no objection.
  Mr. RENZI. Mr. Speaker, I yield myself 5 minutes.
  Mr. Speaker, H. Res. 591 expresses the gratitude for the 
contributions made by America's community banks to the Nation's 
economic well-being and prosperity and the sense of the House of 
Representatives that a month should be designated as Community Banking 
Month. This legislation was introduced by the gentleman from Alabama 
(Mr. Bachus) to recognize community banks for their contribution to the 
very fabric of our community.
  Community banks help to shape communities into centers of commerce 
and entrepreneurship and provide for community and industrial 
development.
  Community bankers are themselves among the leading leaders of our 
community, engaging in civic and benevolent activities. Nationwide, 
there are over 8,700 community banks serving their local communities 
through almost 40,000 banking offices.
  Community banks have reinvested on average 95 percent of their loan 
portfolio in their own communities through home mortgages and small 
businesses, agricultural, and student loans. This reinvestment plays an 
important role in local economic development and in efforts to finance 
new businesses, as well as stimulating the local economy to produce 
jobs and new opportunities.
  Community banks are themselves small businesses, so they understand 
the needs of small business owners. Their core concern is lending to 
small businesses and farms. Studies have shown that they are the 
primary advisors to small businesses.
  Community banks have made nearly 3,160,000 loans to small businesses, 
and over 720,500 loans to small farms.
  Mr. Speaker, on behalf of the community banks and in recognition of 
their great contribution to our local communities and to our small 
businesses around the country.
  Mr. Speaker, I reserve the balance of my time.
  Mr. CAPUANO. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, I rise in support of H. Res. 591, a resolution 
recognizing the contributions of community banks to the Nation's 
economic well-being and prosperity and expressing the sense of the 
House that a month should be designated as Community Banking Month.
  Community banks play a vital role for our country. Of the 7,712 
commercial banks in operation today, all but 419 are community banks 
having assets of less than $1 billion. Community banks are known for 
being close to their customers and provide the leadership for many 
civic endeavors. These bankers are able to make loan decisions locally 
and reinvest local deposits into their local communities.
  Community bankers also are active in helping people understand the 
sometimes complex nature of the banking business. Many community 
bankers participate in efforts to help consumers know the dangers posed 
by identity thieves. In Georgia, for example, these bankers made 
presentations to almost 50,000 of our citizens, giving them tips on how 
to avoid becoming a victim. These same bankers also helped educate our 
citizens on how to apply for a business loan, how to choose banking as 
a career, and how to get a mortgage refinanced.
  While the total number of community banks in the United States is 
decreasing due to consolidation, new community banks are proliferating. 
In fact, 1999 witnessed the highest number of new community banks 
formed in nearly a decade, with 268 new charters reported.
  Community banks focus attention on the needs of local families, 
businesses, and farmers. They channel most of their loans in the 
neighborhoods where their depositors live and work. Community banks 
offer their customers services at attractive prices. For example, 
average rates for checking accounts

[[Page 13177]]

and other depository services on average are 15 percent lower at small 
banks than at large, multistate institutions, according to the 2001 
PIRG report.
  They can offer nimble decisionmaking on business loans, because 
decisions are made locally. And because community banks are themselves 
small businesses, they understand the needs of small business owners. 
Their core concern is lending to small businesses and farms.
  What does it mean to be a community bank? Community banking is a 
devotion to serving community customers and communities. They put 
people into homes, serve small businesses, and help them grow and 
prosper. They provide student loans and set up retirement plans for 
their customers.
  Mr. Speaker, community banks and the more than half a million people 
who work for them truly deserve our recognition for their contributions 
to the Nation's economy and well-being.
  Mr. OXLEY. Mr. Speaker, I rise today in strong support of H. Res. 
591, a resolution expressing the gratitude of the House of 
Representatives for the contributions made by America's community banks 
to the Nation's economic well-being and prosperity and the sense of the 
House of Representatives that a month should be designated as 
``Community Banking Month''. Community banks are the lifeblood of our 
local economies, and this is an appropriate way to recognize their 
contribution.
  Mr. Speaker, I am including for the record correspondence between the 
gentleman from Virginia (Mr. Davis) and myself regarding the 
jurisdictional interest of the Committee on Government Reform. I 
appreciate his efforts in permitting this resolution to reach the floor 
quickly.
                                         House of Representatives,


                               Committee on Government Reform,

                                    Washington, DC, June 21, 2004.
     Hon. Michael G. Oxley,
     Chairman, Committee on Financial Services,
     House of Representatives, Washington, DC.
       Dear Mr. Chairman: Thank you for consulting with the 
     Government Reform Committee regarding H. Res. 591, expressing 
     the gratitude of the House of Representatives for the 
     contributions made by America's community banks to the 
     Nation's economic well-being and prosperity and the sense of 
     the House of Representatives that a month should be 
     designated as ``Community Banking Month.'' As you know, the 
     Committee on Government Reform has jurisdiction over holidays 
     and celebrations.
       Because of your willingness to consult with my committee, I 
     will not seek a sequential referral of the resolution to the 
     Committee on Government Reform. By agreeing to not seek 
     sequential referral, the Government Reform Committee does not 
     waive its jurisdiction over H. Res. 591. I respectfully 
     request that you include this letter and your response in the 
     Congressional Record during consideration of this legislation 
     on the House floor. Thank you for your attention to these 
     matters.
           Sincerely,
                                                        Tom Davis,
     Chairman.
                                  ____

                                         House of Representatives,


                              Committee on Financial Services,

                                    Washington, DC, June 21, 2004.
     Hon. Tom Davis,
     Chairman, Committee on Government Reform,
     Washington, DC.
       Dear Chairman Davis: Thank you for your recent letter 
     regarding your Committee's jurisdictional interest in H. Res. 
     591, a resolution expressing the gratitude of the House of 
     Representatives for the contributions made by America's 
     community banks to the Nation's economic well-being and 
     prosperity and the sense of the House of Representatives that 
     a month should be designated as ``Community Banking Month''.
       I acknowledge your committee's jurisdictional interest in 
     this legislation and appreciate your cooperation in allowing 
     speedy consideration of the resolution. I agree that your 
     decision to forego further action on the bill will not 
     prejudice the Committee on the Government Reform with respect 
     to its jurisdictional prerogatives on this or similar 
     legislation.
       Finally, I will include a copy of your letter and this 
     response in the Congressional Record when the legislation is 
     considered by the House
       Thank you again for your assistance.
           Sincerely,
                                                 Michael G. Oxley,
                                                         Chairman.

  Mr. BEAUPREZ. Mr. Speaker, I rise in support of H. Res. 591, and to 
honor the significant, longstanding contribution of America's Community 
Banks.
  In hometowns all across America, Community Banks have been the anchor 
for countless generations.
  Moms and dads raising families, educating their children, planning 
for a comfortable retirement; farmers, entrepreneurs and innumerable 
small businesses that are the cornerstone of our free-market economy; 
churches, hospitals, schools, civic organizations--indeed the entire 
fabric of America's culture--all know they have a partner and friend in 
their hometown Community Bank.
  Jimmy Stewart romanticized the legacy of hometown bankers as George 
Bailey in the Christmastime classic, ``It's a Wonderful Life''.
  Mr. Speaker, while the movie's plot was fictional, in neighborhoods 
and towns all across America, there are real life George Baileys that 
work hard and nobly, extend a helping hand, help see families and 
businesses through difficulties, and make dreams come true on a daily 
basis.
  Like the other small businesses in America's hometowns, Community 
Banks are typically owned by the folks right there in the community. 
They know their neighbors, and their neighbors know them. They know a 
handshake still matters. Their kids go to school together, and they see 
each other at church.
  Community Banks depend on the people in the community for their 
success, and the community depends on the bank to be there for them--
through good times and tough times. It's a partnership that isn't drawn 
up on any contract, but it is understood and established with a bond 
far stronger than paper and ink.
  So, Mr. Speaker, I proudly support H. Res. 591, and urge all my 
colleagues in the House to join me in expressing gratitude for the 
contribution of our Nation's Community Banks, as one of our country's 
great traditions.
  Ms. JACKSON-LEE of Texas. Mr. Speaker, I rise today to support H. 
Res. 591 which recognizes the contributions made by America's community 
banks to this Nation's economic well-being and prosperity. These 
community banks are imperative to the success of any local community. 
Their recognition today is well deserved and I am in support of the 
effort to designate one month as Community Banking Month.
  Community banks, while often overlooked, offer many advantages to the 
people and areas they serve. Community banks focus attention on the 
needs of local families, businesses, and farmers. Community banks 
channel most of their loans to the neighborhoods where their depositors 
live and work. Community bank officers are typically deeply involved in 
local community affairs. Many community banks are willing to consider 
character, family history and discretionary spending in making loans. 
Finally, because community banks are themselves small businesses, they 
understand the needs of small business owners. Their core concern is 
lending to small businesses and farms. Studies show that they are the 
primary advisers of small businesses. It is fairly evident that 
community banks are truly built by the community's efforts to serve the 
community's interests.
  I am of the belief that a Community Banking Month will help truly 
reflect the necessary efforts that community banks make to serve their 
customers. Not all businesses can be large, not all banks can be 
national; there will always be a need for these services to be provided 
on the community level. I want to thank all the community banks in 
Houston and throughout the United States who on a day like today will 
help some young couple secure their first home mortgage or allow a 
young student to go to college by extending a student loan. It is 
moments like these and the opportunities they provide that truly allow 
us to realize our own piece of the American Dream.
  Mr. CAPUANO. Mr. Speaker, I yield back the balance of my time.
  Mr. RENZI. Mr. Speaker, I yield back the balance of my time.
  The SPEAKER pro tempore. The question is on the motion offered by the 
gentleman from Arizona (Mr. Renzi) that the House suspend the rules and 
agree to the resolution, H. Res. 591.
  The question was taken.
  The SPEAKER pro tempore. In the opinion of the Chair, two-thirds of 
those present have voted in the affirmative.
  Mr. RENZI. Mr. Speaker, on that I demand the yeas and nays.
  The yeas and nays were ordered.
  The SPEAKER pro tempore. Pursuant to clause 8 of rule XX and the 
Chair's prior announcement, further proceedings on this motion will be 
postponed.

                          ____________________