Commerce Chenango hosts Virtual Economic Outlook
NBT Bank Director of Institutional Services and Chief Investment Officer Kenneth J. Entenmann spoke at the Commerce Chenango Economic Outlook event that was held virtually last Thursday. (Screenshot by Zachary Meseck)
CHENANGO COUNTY – Commerce Chenango held its annual economic outlook session virtually, with predictions that the economic market will see a return to normalcy this year.
Commerce Chenango held the 2021 Virtual Economic Outlook Briefing on Thursday, February 25th. The event was sponsored by NBT Bank and Preferred Mutual Insurance Company.
NBT President and Chief Executive Officer John Watt spoke at the event and said early investments in technology and pandemic response helped keep the safety of NBT’s customers, employees, and communities a top priority.
“We were all plunged into a world dominated by COVID-19, and the challenges we’ve faced this past year have been significant and unprecedented,” said Watt. “In the middle of the storm we rolled out our new mobile and online banking platform and introduced a new lending platform that was completely digitized.”
“NBT entered this year with momentum on many fronts, our diversified balance sheet, our strong capital base, and the resilient performance of our credit portfolios in 2020 provides us with lots of optionality in 2021 to grow.”
NBT Bank Director of Institutional Services and Chief Investment Officer Kenneth J. Entenmann was the keynote speaker of the event, and provided a positive outlook for the United States economy due in large part to the dropping COVID-19 cases.
“What a difference a year makes,” said Entenmann. “Last year we were right on the forefront of COVID, and what a dramatic impact it's had on our work, and continues to have on our world.”
“I look at where we are today, and the title of my presentation is anticipating a return to normal.”
Entenmann said while the definition of normal may vary, from an economic perspective things should begin returning to where they were before the pandemic.
“On a macroeconomic standpoint, I think things are clearly anticipating a return to normal,” he said. “The stock market is trading at basically record high levels, interest rates are rising in anticipation of an economic recovery, and thankfully the COVID numbers are improving rather dramatically.”
“That to me is the reason why things are so optimistic.”
Commerce Chenango President and CEO Kerri Green also spoke at the event and said last year’s economic breakfast was a pivotal moment for their organization.
“I really feel like this event was a pivotal moment for me and for our area; it was this time last year, and we were talking about what was going on with COVID,” said Green.
“We spent a lot of time talking about that last year, and what it could mean for our economy, but little did we know a couple of weeks later things would explode the way that they did.”
Green said Commerce Chenango has changed several of its priorities to focus on marketing, membership, programming, advocacy, and issuing grants and loans.
She said the organization will continue working on getting broadband access to the Southern Tier, accessible and affordable childcare, promoting and improving local hotels, business development, and workforce development.
Anyone interested in watching the presentation in its entirety may visit https://www.youtube.com/watch?fbclid=IwAR0PmMKYjN1DvFrI5orLWhoRk-3uvsIxfkYygFhPNXAXhFUiQ6RW7wn4bok&v=70rWRlr0tMU&feature=youtu.be for the full video.
Commerce Chenango held the 2021 Virtual Economic Outlook Briefing on Thursday, February 25th. The event was sponsored by NBT Bank and Preferred Mutual Insurance Company.
NBT President and Chief Executive Officer John Watt spoke at the event and said early investments in technology and pandemic response helped keep the safety of NBT’s customers, employees, and communities a top priority.
“We were all plunged into a world dominated by COVID-19, and the challenges we’ve faced this past year have been significant and unprecedented,” said Watt. “In the middle of the storm we rolled out our new mobile and online banking platform and introduced a new lending platform that was completely digitized.”
“NBT entered this year with momentum on many fronts, our diversified balance sheet, our strong capital base, and the resilient performance of our credit portfolios in 2020 provides us with lots of optionality in 2021 to grow.”
NBT Bank Director of Institutional Services and Chief Investment Officer Kenneth J. Entenmann was the keynote speaker of the event, and provided a positive outlook for the United States economy due in large part to the dropping COVID-19 cases.
“What a difference a year makes,” said Entenmann. “Last year we were right on the forefront of COVID, and what a dramatic impact it's had on our work, and continues to have on our world.”
“I look at where we are today, and the title of my presentation is anticipating a return to normal.”
Entenmann said while the definition of normal may vary, from an economic perspective things should begin returning to where they were before the pandemic.
“On a macroeconomic standpoint, I think things are clearly anticipating a return to normal,” he said. “The stock market is trading at basically record high levels, interest rates are rising in anticipation of an economic recovery, and thankfully the COVID numbers are improving rather dramatically.”
“That to me is the reason why things are so optimistic.”
Commerce Chenango President and CEO Kerri Green also spoke at the event and said last year’s economic breakfast was a pivotal moment for their organization.
“I really feel like this event was a pivotal moment for me and for our area; it was this time last year, and we were talking about what was going on with COVID,” said Green.
“We spent a lot of time talking about that last year, and what it could mean for our economy, but little did we know a couple of weeks later things would explode the way that they did.”
Green said Commerce Chenango has changed several of its priorities to focus on marketing, membership, programming, advocacy, and issuing grants and loans.
She said the organization will continue working on getting broadband access to the Southern Tier, accessible and affordable childcare, promoting and improving local hotels, business development, and workforce development.
Anyone interested in watching the presentation in its entirety may visit https://www.youtube.com/watch?fbclid=IwAR0PmMKYjN1DvFrI5orLWhoRk-3uvsIxfkYygFhPNXAXhFUiQ6RW7wn4bok&v=70rWRlr0tMU&feature=youtu.be for the full video.
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