President's Message
Nathaniel Tagtow, Vice President City State Bank, and President of the Iowa Trust Association
 
I want to begin with a thank you to everyone who attended our annual conference at the end of September. We had record attendance at the conference with over 100 attendees. That turnout certainly speaks to the strength of our organization and to the growth of the trust business throughout the state of Iowa. We had another extremely beneficial peer group meeting on Wednesday and heard some excellent speakers from start to finish for the remainder of the week. I hope everyone who attended had an opportunity to provide feedback on the event by filling out the survey that was emailed out. If not, please don’t hesitate to email me or one of the other board members with thoughts on how next year’s conference could be improved.
 
This newsletter is my last official act as president of the Iowa Trust Association. I have appreciated the opportunity to serve and to get to know many of you better throughout my time on the board. Thank you again to Darcy for all she does to make the ITA successful and to keep the entire board organized and efficient. Many thanks to the rest of the ITA board for their continued work and feedback throughout the year. I have enjoyed my time as president and look forward to continued service on the board for the rest of my term.
 
Good luck to everyone as we wind down 2022 and work to wrap up all of the necessary year-end tasks that are important to keep our trust departments running on all cylinders. I look forward to speaking with everyone again soon at our next peer group meeting.
ITA Fall Conference with record attendance
The ITA Fall Conference had record setting numbers with over 100 trust professionals attending, as well as 24 exhibiting companies. The event started Wednesday with a peer group meeting. Over 60 trust officers discussed a variety of issues and also heard an update from the Iowa Division of Banking. The conference officially kicked off on Thursday and followed with two days of informative sessions on cryptocurrency, decision making, IRAs, ethics, a economic update and more.

Iowa Trust Association would like to thank the exhibitors and sponsors who help make this event possible each year. Their attendance and support of the event helps provide the high-quality, timely speakers the conference is known for.

Thank you to everyone who was a part of the 2022 ITA Fall Conference. The association is already planning another great event for 2023. The event will be October 2-4, 2023 in West Des Moines.
On Friday, ITA held its annual meeting. President Nathaniel Tagtow reviewed the yearly financials and provided an update for the association. Tagtow then handed off the gavel to the incoming 2023 ITA President. Brenda Heisch from Quad City Bank & Trust will chair the group in the upcoming year. Heisch addressed the group and also thanked Tagtow for his service.
Over 40 attend ITA Operations Seminar
Over 40 people attending the ITA Operations seminar in Johnston earlier this month. This two-day seminar presented by Duane Lee from Cannon Financial focuses on why trust departments do what they do. Attendees gained valuable information on the principles and rules that govern the industry, including regulatory and legal framework within which trust departments and trust companies operate today. 
A special thank you to Infovisa for their sponsorship of this event.
What Does the Change in Cost of Capital Mean for Farmland?
Reports of high inflation continue to saturate the news, and the effects of the past three years’ monetary actions and supply chain interruptions have resulted in extreme economic uncertainty. The impacts in the food production channels in particular have resonated with tighter supplies, elevated and altered demand, and escalating prices due to the combination of foreign unrest, weather events, the pandemic, a suppressed labor market, seemingly random transfer payments, and widespread transportation challenges. The country is scrambling to return to “normal” while interpreting inflation signals, interest rate hikes, and near record low unemployment. Recent market volatility has largely erased the gains from the early part of the year in equities, and political uncertainty is ramping upward in advance of the midterm elections. One thing that has remained relatively unscathed is the unyielding demand for farmland – an asset class that has emerged from a two year bull market and remains largely untouched by the unrest. Click here for complete article
Contribute to the Iowa Trust Association
As a reminder, the Iowa Trust Association welcomes contributors to its quarterly newsletter. If you would like to comment on recent activities in the industry or let us know about an upcoming event that would be of interest to our readers, please feel free to contact Darcy Burnett, at 800-987-7365. Thank you for your interest in our publication and we look forward to hearing from you.

If this message was forwarded to you and you would like to receive the ITA Newsletter, please email Darcy Burnett to subscribe.
Published by Iowa Trust Association.