Crawl, Walk, Run Toward a Compliant Cannabis Banking Program

Wednesday, March 8, 2023 via Zoom, hosted by Montana Bankers Association

10:00 a.m. to 12:00 p.m. CT | 9:00 a.m. to 11:00 a.m. MT

Register Online

REGISTRATION FEE

Free

WHAT TO EXPECT

The U.S. cannabis market is expected to continue its growth in 2023 with projected sales of $72 billion per year by 2030, more than double the current market estimation of $32 billion annually. Although 21 states and the District of Columbia allow adult-use cannabis, ongoing conflict with federal law on cannabis – on top of a complex regulatory landscape – has left much of this industry unbanked.

Montana, which launched its adult-use cannabis program in January 2021, reported over $200 million in sales in the first year. Providing financial services to this market can help banks find new growth with low-cost deposits, new lending opportunities, and non-interest income revenue streams.

Taking a crawl, walk, run approach to cannabis banking can help ensure banks are in the best possible position to build a strong foundation, scale their programs while managing costs, and pass compliance exams. This event will help Montana bankers understand what is involved at each step of the process.

Specifically, attendees will gain a deeper understanding of how to:
· Identify and mitigate risk.
· Develop a financial model to understand the income/costs of this line of business and its potential profitability.
· Create a cost structure that allows them to remain competitive as competition grows.
· Institute best practices for ensuring compliance and business development teams operate in lockstep with one another.

WHO SHOULD ATTEND?

• Chief Banking Officer
• Chief Lending Officer
• Chief Operating Officer
• Chief Financial Officer
• Chief Executive Officer
• Board of Directors
• Compliance, Risk, and BSA/AML Officers
• Business Development Teams

ABOUT THE PRESENTER

Tony Repanich, President and Chief Executive Officer, Shield Compliance - As president and CEO of Shield Compliance, Tony leads day-to-day operations and serves as the company’s principal product architect. Having served as a senior executive at a Washington state-based community bank for over 20 years, Tony has in-depth knowledge of the banking industry and banking requirements for high-risk industries. Today he brings that knowledge to financial institutions serving and considering serving the legal cannabis industry.

CONTACT INFORMATION

Pam O'Reilly, VP of Operations and Member Services, 406-443-4121 or [email protected].