South State Correspondent

JUNE 5, 2023

Community bank cost of funds is jumping up. As shown in the graph below, the net interest margin (NIM) for community banks declined 22bps in Q1’23. The question is – what will happen to community bank’s cost of funds from here? The graph below shows community bank cost of funds compared to those banks over $25B.

Community Bank 195

Community Bank Community Industry Strategy 195

ABA Community Banking

DECEMBER 8, 2023

From the Basel III endgame to Regulation II to new Community Reinvestment Act and Section 1071, 2023 has delivered a regulatory onslaught for the industry. The post Podcast: The bank policy outlook for 2024 appeared first on ABA Banking Journal. How are bankers navigating the waves of overlapping changes?

Policies 59

Policies Community Regulation Industry 59

ABA Community Banking

MARCH 15, 2024

billion in awards from the CDFI Fund in fiscal year 2024, which is more than three times the amount of available. The post CDFI Fund received $1.55B in funding requests in 2024 appeared first on ABA Banking Journal. A total of 948 organizations from across the U.S. requested a combined level of approximately $1.55

Community Bank 52

Community Bank Policies Community 52

CFPB Monitor

OCTOBER 26, 2023

On October 24, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued a final rule amending their regulations implementing the Community Reinvestment Act. Continue Reading

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Community FDIC Compliance Regulation 78

American Banker

JANUARY 3, 2024

A resilient economy and the potential for interest rate cuts could infuse further bullish sentiment into markets and bolster the shares of small lenders.

Community Bank 87

Community Bank Community Marketing Industry 87

PYMNTS

MAY 6, 2020

The Federal Reserve has formed a FedNow Community group for its upcoming instant payment offering, the FedNow Service , and needs volunteers to support it, the Fed announced Wednesday (May 6). The Fed acknowledged the challenges brought on by the coronavirus but noted the FedNow Service is still scheduled to be unveiled in 2023 or 2024.

Community 234

Community Payments Boston Groups 234

South State Correspondent

SEPTEMBER 25, 2023

Given this new signal, community banks need to analyze what this interest rate environment means for their business model and how to maximize performance. The question is how will this interest rate development affect community banks’ performance, and what must community banks do to remain profitable?

Community Bank 195

Community Bank Community Industry Marketing 195

American Banker

NOVEMBER 21, 2023

Bankers are hopeful that several factors could strengthen profits next year, including higher loan demand and more stable funding costs as the Fed holds the line on — or even lowers — interest rates.

Community Bank 85

Community Bank Community Lending 85

Perficient

FEBRUARY 15, 2024

Looking Ahead With the enforcement deadline of April 29, 2024, fast approaching, financial institutions subject to NYSDFS Part 500 amendments must accelerate their compliance initiatives.

New York 221

New York Compliance Regulation Analysis 221

South State Correspondent

APRIL 9, 2024

We estimate that the average contractual loan commitment for term credit at community banks has decreased from just under five years in 2022 to just under three years currently. Community banks should carefully consider the prudence of such a strategy from both a risk and revenue perspective. cuts through the end of the year.

How To 195

How To Community Community Bank Marketing 195

American Banker

APRIL 1, 2024

In this month's roundup of top banking news: New York Community Bancorp works through internal strife, JPMorgan Chase accuses TransUnion and others of data theft, KPMG comes under fire and more.

New York 78

New York Community Data Industry 78

Perficient

FEBRUARY 15, 2024

Embracing these changes enables entities to fortify their operations, safeguard stakeholders, and instill trust within the broader financial community. Looking Ahead With the enforcement deadline of April 29, 2024, fast approaching, financial institutions subject to the DFS500 amendments must accelerate their compliance initiatives.

Compliance 221

Compliance New York Regulation Analysis 221

South State Correspondent

JANUARY 16, 2024

Bloomberg recently announced that it will shut down its BSBY index on November 15, 2024. We published various articles comparing community bank alternatives to LIBOR (such as SOFR, Ameribor, Fed Funds, and Prime). Historically, community banks have hesitated to adopt derivatives for several reasons. No ISDA documents.

Community Bank 195

Community Bank Community Compliance CA 195

Jeff For Banks

MARCH 21, 2024

2024 could exceed -$2.0 Dorothy recently retired from Penn Community Bank where she worked since 2004. High debt levels continue to harm GDP as the US Treasury issues new debt with abandon and the politicians hand out money like candy. trillion, following 2022’s deficit of -$1.4

Marketing 148

Marketing Policies Report Atlanta 148

South State Correspondent

JULY 26, 2023

The bigger risk to community banks’ business model is not a moderate recession induced by aggressive interest rate increases by the Federal Reserve. The Fed may be nearing the end of its hiking cycle, but given the high threshold for interest rate cuts, there may be no changes in the Fed Funds rate until well after 2024.

Community Bank 195

Community Bank Community Strategy Atlanta 195

Gonzobanker

JANUARY 4, 2024

In 2024, Smarter Banks will go on offense and differentiate with the customer experience. In the spirit of New Year’s resolutions, here are three ways “Smarter Banks” will flip the customer experience (CX) script in 2024. #1 2024 is an opportunity to go on offense and make CX a true point of competitive differentiation.

Customer Experience 149

Customer Experience Community Knowledge Base Tools 149

South State Correspondent

MAY 18, 2022

In two recent articles, we reviewed the banking industry’s deposit behavior with regard to cost of funding earning assets (COF) ( HERE ), and we compared how community banks’ COF behaves relative to national banks in a rising interest rate cycle ( HERE ). Deposit Behavior In This Tightening Cycle Versus Last Three.

Community Bank 195

Community Bank Community Analysis Industry 195

South State Correspondent

SEPTEMBER 12, 2022

However, as of Q2/22, the average community bank’s COF has risen only a few basis points. Community banks should be concerned about their COF because looking at current deposit conditions is like driving a car while looking at the rearview mirror. Community banks will feel the effects of these hikes over the next few quarters.

Community Bank 195

Community Bank Community Industry Online 195

American Banker

NOVEMBER 8, 2023

The National Credit Union Administration approved the Young Community Federal Credit Union to begin operations in Kentucky soon. An organization in Maryland is shooting for a 2024 opening.

Maryland 81

Maryland Kentucky Groups Community 81

The Financial Brand

JANUARY 1, 2024

This article 2024 Trends: Prepare for Disruptive Activism from a Politicized CFPB appeared first on The Financial Brand. This article 2024 Trends: Prepare for Disruptive Activism from a Politicized CFPB appeared first on The Financial Brand.

Trends 31

Trends Branding Industry Banking Trends 31

ABA Community Banking

JANUARY 3, 2024

Citing his leadership in advocacy and “his thoughtful, deliberate dedication to the essence of community banking,” BankBeat magazine has named Bryan Bruns — president and CEO of Lake Central Bank in Annandale, Minnesota — as its 2024 Banker of the Year.

Minnesota 59

Minnesota Leadership Community Bank Community 59

South State Correspondent

NOVEMBER 29, 2023

Community banks are striving to increase loan yield and maintain their cost of funding (COF). We have created and used a novel structure to take advantage of the inverted yield curve to allow community banks to increase net interest margin (NIM) and fee income on these existing fixed-rate loans.

Community Bank 195

Community Bank Community Tools Strategy 195

American Banker

JANUARY 31, 2024

In this month's roundup of popular tech news: SEC responds to successful hack on its X account, community banks get closer to fintech hubs, the Office of the Comptroller of the Currency weighs in on Blue Ridge Bancshares and more.

Fintech 60

Fintech Community Bank Community Industry 60

American Banker

JULY 12, 2023

The company said long-time chief executive Chuck Sulerzyski would retire in 2024 and be succeeded by Tyler Wilcox, Peoples' executive vice president of community banking.

Ohio 69

Ohio Community Bank Community Company 69

BankInovation

SEPTEMBER 1, 2023

As community and regional banks navigate 2023 and approach 2024, they’re setting their sights on critical priorities to chart their strategic direction – with a keen focus on: • Growing deposits • Growing loans • Retaining talent Jack Henry’s 2023 Strategic Priorities Benchmark Study found that 79% of financial institution CEOs surveyed plan to increase (..)

Study 63

Study Regional Survey Community 63

Perficient

DECEMBER 27, 2023

Additionally, the recent rule by the OCC, the Federal Reserve, and the FDIC strengthens and modernizes Community Reinvestment Act (CRA) regulations. The effective date of the new rule is April 1, 2024, with key provisions taking effect on January 1, 2026, and January 1, 2027. Banks

Compliance 221

Compliance FDIC Regulation Fraud 221

American Banker

FEBRUARY 13, 2024

Senior loan officers recently told the Federal Reserve that loan demand weakened and underwriting tightened last quarter, but both at a slower pace than three months earlier. They anticipate demand for credit will improve, especially in the back half of the year — provided rates begin to fall.

Community Bank 87

Community Bank Community Lending 87

Abrigo

MAY 30, 2023

1, 2024, and report for the first time by June 1, 2025. 1, 2024, is the earliest compliance deadline. Earliest deadline is 2024 Three deadlines for CFPB 1071 rule compliance The earliest reporters are those that have originated at least 2,500 small business loans covered by the rule in 2022 and at least 2,500 in 2023.

Compliance 195

Compliance Lending Data Regulation 195

PopularBank

DECEMBER 7, 2022

Building inspections are required for community buildings in all 67 counties in Florida that are three or more stories in height. Effective December 31, 2024, no unit owner-controlled condominium or cooperative can vote to waive or partially fund the reserves. Florida’s new condo safety laws at-a-glance. Mandatory building inspections.

Community 52

Community Florida Study ATM 52

South State Correspondent

APRIL 22, 2024

The market and the Fed are now aligning on only one rate cut in 2024 – obviously this will change over the course of the year as the economic data evolves. Community bankers have good insight into their client’s business models and personal goals. The market, and most economists, often get interest rate predictions wrong.

Marketing 195

Marketing St. Louis Analysis Study 195

South State Correspondent

JUNE 20, 2023

The Fed’s Dot Plot now shows a 5.625% terminal fed funds rate in 2023 and a 4.75% rate at the end of 2024. Equally important are the Fed’s 2023, 2024, and 2025 projections for inflation, GDP, and unemployment – all pointing to a hotter economy for a longer period.

Policies 195

Policies Meeting Marketing Community Bank 195

American Banker

FEBRUARY 14, 2024

New regulations involving cryptocurrency and the results of key elections will impact the industry's success this year.

cryptocurrency 83

cryptocurrency Regulation Industry Cyber Security 83

ABA Community Banking

FEBRUARY 16, 2024

On the latest episode of the ABA Banking Journal Podcast, Kristiane Koontz discusses ABA's recent work on core resilience and competition, as well as the Core Platforms Committee's plans for 2024. The post Podcast: How flexible is your core? A new tool to help assess appeared first on ABA Banking Journal.

Tools 69

Tools Community Bank Community Innovation 69

ABA Community Banking

MARCH 22, 2024

The Michigan Bankers Association recently named Kenneth Kelly, chairman and CEO of First Independence Bank, as the recipient of the 2024 MBA Banker of the Year award The post First Independence Bank’s Kelly named MBA Banker of the Year appeared first on ABA Banking Journal.

Michigan 52

Michigan Community Bank Community 52

American Banker

NOVEMBER 6, 2023

Many banks tapped the brakes on mergers and acquisitions this year amid economic and regulatory challenges. But executives at banks with a history of dealmaking say conditions could be right for them to return to buying mode next year.

Community Bank 91

Community Bank Community 91

American Banker

AUGUST 8, 2023

Bankers say regulatory burden, rising costs and intensifying competition will reignite a drive for scale and spur dealmaking provided interest rates level off and the economic outlook improves.

Community Bank 69

Community Bank Industry Community 69

Abrigo

MARCH 14, 2024

Strengthening customer relationships with tangible value and personal touch Customer retention in banking can be challenging for community financial institutions. Perhaps they might aim to reduce inventory to 80 days by the end of the first quarter of 2024. Community lending software can help get you there.

Lending 195

Lending Strategy Community Software 195