Banking on Growth
What do customers get from their financial institution? “Money” is one answer. Another? “Relationship.” As contributors to this month’s cover story make clear, understanding their customer’s situation and needs is the foundation for (providing) an appropriate solution.
I am happy to report that the banking industry in Arizona continues to strive to be part of that solution. The sector in Arizona reflects the industry writ large for the entire country. The industry here is diverse, robust and very well capitalized. It is resilient enough to navigate the uncertainty that has come with the new administration. And it is poised to take on the challenges of a revolution in payments, and the evolving digital-asset economy.
We at the Arizona Bankers Association have been working hard to react to the needs of our member banks by mitigating threats to the state’s banking industry so that it can better serve our customers. Whether those threats come from misguided politicians who want to force businesses into ill-advised courses of action, or other business sectors who want to feather their nests at the expense of Arizona bank customers, the AzBA is proud to also be part of the solution.
Looking to offer a broad perspective, In Business Magazine reached out to major and community banks and credit unions. In this month’s cover story, “Bank on It: Arizona’s Banks Funding Our Future,” they speak to economic challenges and an evolving functional landscape as they discuss the products and services available to other businesses.
Challenges, of course, are universal. And inevitable. Gerald J. Leonard addresses this in feature article “When the Roadblocks Become the Road.” Pointing out, “What feels like a crisis is often the catalyst for long-term transformation,” he explores three strategies to turn obstacles into opportunities.
In this month’s Economy feature, “From Check Out to Cash Flow,” Karah Gagnon presents a business guide to merchant services that also addresses issues of fraud and user satisfaction.
Fair pay is essential but insufficient as a driver of satisfaction — this is among surprising insights from David Kolbe in his article “Study Finds Hidden Cause behind Employee Turnover and Burnout.” He examines a motivational factor that is harder to quantify, but with enormous influence.
Haley Harrigan delves into another important HR issue in this month’s Legal feature, “Employees: Exempt or Non-Exempt?” as she discusses ways businesses can avoid costly classification errors – and the consequences if they don’t.
As much as Phoenix — and Arizona as a whole — is known as a hub of innovation, there are some critical barriers. Mike Madsen went to businesses “in the trenches” and surveyed top executives from Arizona’s legacy companies and more recent arrivals, and he shares his findings in this month’s Roundtable feature.
Franchise growth, hiring strategies, trends in commercial real estate and development, and evaluating the efficacy of corporate wellness programs are among the articles populating the other varied editorial departments this month.
And this month’s edition also presents the 2025 “Excellence in Banking” special section, profiles of some of the Valley’s top leaders at our community banks and credit unions.
It’s my pleasure to help bring you this November edition of In Business Magazine. I hope you enjoy the read.
Sincerely,
Paul Hickman
President & CEO
Arizona Bankers Association
Paul Hickman is the president and CEO of the Arizona Bankers Association, which represents the banking industry in the state. The industry is comprised of 62 banking institutions employing more than 100,000 Arizonans and managing close to $221 billion in insured deposits. Hickman holds a Bachelor of Science in political science, a Bachelor of Arts in history, and a law degree — all from Arizona State University.
