5Q: Anthony Botelho

 / PBN PHOTO/TRACY JENKINS
/ PBN PHOTO/TRACY JENKINS

1 What stood out to you most about the Rhode Island banking scene in 2016?

The continued growth of banks, including the expansion of the branch network in the state. Additionally, the commitment to the Rhode Island communities was steadfast with more than $7 million in donations, more than $400 million in small-business loans, nearly $2 billion in residential mortgages and most impressively, more than 90,000 hours of volunteerism.

2 What parts of the business thrived, what was challenged?

The residential mortgage business continued to thrive, given the recovery and the low fixed-rate environment that banks are working within. As I mentioned earlier, small-business lending has been an important and integral part to the banking community success. … In terms of challenges, it is well-documented and discussed within the industry and media that the heavy regulations imposed upon the industry since the recession of 2008 have added to the cost of doing business both in Rhode Island and on a national level. … It may be some time until we see the positive effects of any relief on the regulatory front.

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3 Is there any line of business you expect to pick up for banks in 2017?

I feel wealth management will continue to be a growth engine for financial institutions, including banks. As the demographics continue to move toward an “aging” population and the transition of wealth from generation to generation continues, it is evident this is a growth opportunity.

4 Overall, what should the banking industry be keeping an eye on for 2017?

Banking has always had a wide lens. We should continue to keep an eye on both national and local economic trends, interest-rate movement and foremost, the needs of our clients, communities and colleagues.

5 Can you discuss the leadership changes at R.I. Bankers Association this year?

My term will be coming to an end later this year. We are presently in a strategic-planning mode, as we look to build toward the future. RIBA has a strong executive committee and structure for both continuity and sustainability of our association’s objectives. I’m looking forward to handing the gavel over to Brian Murphy, of Home Loan & Investment Corp., at our annual meeting come September and plan to stay active in RIBA. •

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