Washington, D.C.—Congressman John L. Mica (FL-07) announced that community bank President David Bridgeman of Pinnacle Bank in Orange City will testify before a Congressional Panel on the plight of community banks.  This hearing will address the difficulties faced by community banks as they have been stymied by federal regulators nationally and locally in the Seventh District of Florida.  Ben Flowers President of Main Street Community Bank in Deland joined a group of Florida community bankers in getting Congress’s attention to address lending obstacles that community banks face today.
         Flowers joined David Bridgeman in a group of community bankers who spearheaded an effort to bring their concerns to Rep. Mica who then urged Chairman Barney Frank, Ranking Member Spencer Bachus and the House Financial Services Committee to convene a panel to focus attention on the frozen community banking industry.  That hearing has been scheduled jointly with the House Small Business Committee for Friday, February 26, 2010 to listen to concerns relating to the federal intervention and regulatory actions that have crippled community banks and negatively impacted lending.
         At Congressman Mica’s request, David Bridgeman, has been selected to represent Florida’s community bank leaders at the hearing.  Other witnesses at the hearing will include federal regulators, banking representatives, small businesses and other authorities in this field.
         Mica said, “Getting community banks back into the lending business and allowing them to make responsible investments is key to economic recovery and job expansion.”
         Mr. Bridgeman is part of a community bankers group that has worked with Congressman Mica to get the attention of national lawmakers to help our financial institutions and economy get back on track.  Bridgeman has 27 years of community banking experience and has been President of Pinnacle Bank since 1999.
         Further information on the February 26th hearing will be provided as it becomes available.