CFPB Monitor

JUNE 13, 2022

One issue raised in the RFI is “to what extent should the CFPB be consulted by the FDIC when considering the convenience and needs factor and should that consultation be formalized?”. The request for information (RFI) included questions related to the agency’s current bank merger review process, and how the process could be improved.

FDIC 78

FDIC Groups Community Meeting 78

Abrigo

SEPTEMBER 16, 2019

Community bankers are largely positive about the future, based on the first results of a new index gauging business sentiment among the financial professionals who serve a critical role in local economies. Is the current period a good time to expand your operations? Dunkelberg and Jonathan A. Grow your loan portfolio. Learn More.

Community Bank 150

Community Bank Community Policies Survey 150

Perficient

DECEMBER 27, 2023

Navigating AML and OFAC Compliance Risks Regarding anti-money laundering (AML) and Office of Foreign Assets Control (OFAC) compliance risks, bank executives must navigate operational and compliance challenges tied to fintech relationships. Manage third-party risks, especially for relationships involving higher-risk or critical activities.

Compliance 221

Compliance FDIC Regulation Fraud 221

Independent Banker

MARCH 31, 2022

A secure, open-loop, cost-saving, customer-accessible, multiplatform P2P payments network might sound too good to be true, but community bank consortium Alloy Labs Alliance hopes to achieve just that with the CHUCK payment rail. A different kind of peer-to-peer payment service is now available, “built by community banks for community banks.”.

Community Bank 91

Community Bank Community Payments Meeting 91

CFPB Monitor

DECEMBER 28, 2020

The FDIC has issued a final rule setting forth the conditions it will impose and the commitments it will require to approve a deposit insurance application from an industrial bank or industrial loan company (collectively, ILC) whose parent company is not subject to consolidated supervision by the Federal Reserve Board (FRB).

FDIC 78

FDIC Industry Policies Company 78

Abrigo

MARCH 2, 2023

Banking technology decisions now affect future growth With the possibility of a recession, community financial institutions may consider a delay or cut in technology spending. But a community financial institution often has different needs related to origination than those of a giant lender. Experts say that would be a mistake.

Technology 195

Technology Lending Community Software 195

Independent Banker

JUNE 30, 2022

Academy Bank COO Tom Kientz notes that the community bank was eager to expand its deposit and loan services. Today, the community bank has successful relationships with HOAs across the country. billion-asset community bank is a wholly owned subsidiary of Dickinson Financial Corporation, a $3.5 Photo by Jason Tracy.

Kansas City 91

Kansas City Kansas FDIC Community Bank 91

Jeff For Banks

AUGUST 2, 2021

2/ @Schornack The primary asset of the organization was Flagship Bank Minnesota, a Member FDIC and Equal Housing Lender with two locations in the Twin Cities Metro Area. This is not a high level of revenues to handle all the expenses involved with operating a troubled banking organization at the time. million in 2012 to $12.2

Community Bank 78

Community Bank Community Minnesota Metro 78

Independent Banker

JULY 31, 2022

Observing the gap in pandemic relief in south Florida due to a lack of local community banks, a trio of banking veterans teamed up to form a digital-first community bank—and were granted a charter in record time to support local businesses. By Katie Kuehner-Hebert. Name: Locality Bank. Assets: $55 million. Built on a solid foundation.

Florida 91

Florida Community Bank Community FDIC 91

Jeff For Banks

DECEMBER 10, 2023

Although one might argue that First Citizens BancShares of Raleigh is a SIFI as it climbed to the 19th largest in the country with its Silicon Valley Bridge Bank acquisition from the FDIC, and that the FDIC designated SVB as systemically important. Communities First Financial Corporation (Now FFB Bancorp) (OTCQX: FFBB) #2.

Fresno 103

Fresno North Carolina Raleigh FDIC 103

CFPB Monitor

SEPTEMBER 14, 2021

Last week, the Federal Reserve Board published a paper on partnerships between community banks and fintech companies, “Community Bank Access to Innovation through Partnerships.” Customer-oriented partnerships in which a community bank engages a fintech to enhance various customer-facing aspects of its business (e.g.,

Fintech 78

Fintech Community Bank Community FDIC 78

Jeff For Banks

JANUARY 12, 2019

I will say there seems to be more PE, Investment Banker, Investment Management types on the Bottom 5 boards than on the Top 5. Then, as now, my working theory is that the best boards are ones that approve strategy and hold management accountable for achieving it, and effectively dispatch their duties as described by the FDIC above.

Community Bank 60

Community Bank Community FDIC Dallas 60

Jeff For Banks

JANUARY 12, 2019

I will say there seems to be more PE, Investment Banker, Investment Management types on the Bottom 5 boards than on the Top 5. Then, as now, my working theory is that the best boards are ones that approve strategy and hold management accountable for achieving it, and effectively dispatch their duties as described by the FDIC above.

Community Bank 60

Community Bank Community FDIC Dallas 60

Abrigo

MAY 5, 2022

Thankfully for bank and credit union executives, lenders, risk managers, and Bank Secrecy Act (BSA) Officers, banking podcasts and podcasts for credit unions are plentiful, and options are growing. Other podcasts might be internationally based and of little interest to community financial institutions or credit unions based in the U.S.

Community 195

Community Lending Maine Resources 195

Abrigo

JULY 10, 2023

Get more tips for managing the AML program from this webinar: "Conquering BSA challenges: Best practices for managing a successful AML program" DOWNLOAD Takeaway 1 AI can enhance our efficiency, but financial institutions must be on guard against AI fraud. Here are several suggestions for tightening security.

Fraud 150

Fraud How To social media Security 150

Abrigo

MARCH 25, 2020

Working with borrowers that are current on existing loans, either individually or as part of a program for creditworthy borrowers who are experiencing short-term financial or operational problems as a result of COVID-19, generally would not be considered TDRs,” the agencies said. Modifications not automatically TDRs. speak to a specialist.

FDIC 150

FDIC Regulation Exercises Community 150

Jeff For Banks

NOVEMBER 6, 2011

First dropping the Fed Funds rate to near zero, and most recently with Operation Twist designed to guide long-term rates even lower. This has kept investment options for community financial institutions at historic lows. Community FIs are experiencing similar activity from their Main Street customers. a highly unusual situation.

Community 66

Community New York FDIC Philadelphia 66

Abrigo

JULY 20, 2021

Even if community businesses don’t end up utilizing the federally guaranteed loans , many small businesses have heard of SBA loans and want to explore them. During Abrigo’s recent ThinkBIG Conference, credit underwriting and loan portfolio risk management trainer and consultant Michael Wear , CRC , of 39 Acres Corp.

Lending 195

Lending FDIC Capital Risk Management 195

Abrigo

JULY 20, 2021

Even if community businesses don’t end up utilizing the federally guaranteed loans , many small businesses have heard of SBA loans and want to explore them. During Abrigo’s recent ThinkBIG Conference, credit underwriting and loan portfolio risk management trainer and consultant Michael Wear , CRC , of 39 Acres Corp.

Lending 195

Lending FDIC Capital Risk Management 195

Gonzobanker

MARCH 22, 2023

Irvine Sprague, Former FDIC Director So Gonzo Bankers … how many of us have been hesitant lately to check our iPhone each morning to see what trouble may have hit the fan in the financial world during a few restless hours of slumber? “Bank confidence is a fragile reed, and a troubled bank is damaged by any rumors, true or not.”

social media 78

social media Capital Risk Management Strategy 78

Gonzobanker

MAY 4, 2020

As Cornerstone Managing Director Brad Smith put it, this deal might not get the coverage of Visa/Plaid, but it should, because Galileo is like a mashup of Plaid and Q2’s CorePro if CorePro was extended to payments, lending and investments. million fundraise including community bank participants Bank of St. SoFi/Galileo: This $1.2

Fintech 109

Fintech FDIC Capital Community Bank 109

Independent Banker

SEPTEMBER 25, 2014

Saving money by conducting inside risk management and compliance reviews. As a group, community banks spend substantial funds hiring outside consultants to help with various management functions, and a substantial share of dollars are spent to help oversee their risk management and compliance activities.

Community Bank 70

Community Bank Compliance Risk Management Community 70

CFPB Monitor

APRIL 1, 2021

In what could be an important step towards needed regulatory updating to accommodate the growing use of artificial intelligence (AI) by financial institutions, the CFPB, FDIC, OCC, Federal Reserve Board, and NCUA issued a request for information (RFI) regarding financial institutions’ use of AI, including machine learning (ML). Uses of AI.

Risk Management 78

Risk Management Training Lending FDIC 78

Independent Banker

APRIL 30, 2022

Independent Banker’s annual listing top-performing community banks of 2021 alongside interviews with some of the winners. In true community bank fashion, each has its own story to tell and its own path to success. In true community bank fashion, each has its own story to tell and its own path to success. Philadelphia.

Community Bank 172

Community Bank Community Montana Taxes 172

Jeff For Banks

DECEMBER 16, 2022

Communities First Financial Corporation (OTCQX: CFST) Communities First Financial Corporation is the bank holding company for Fresno First Bank , which opened in December 2005 dedicated to meeting the banking needs of businesses, professionals, and successful individuals in Central California. Triumph Bancorp, Inc. Nasdaq: TBK) #4.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

Abrigo

NOVEMBER 9, 2022

How has CECL implementation impacted their operations and reserves for credit losses? Many institutions are well on their way to being ready, but others are still working through the process,” said Garver Moore, Managing Director of Abrigo’s Advisory Services. CECL's impact on operations. With months to deadline.

Survey 195

Survey Software Resources Meeting 195

Jeff For Banks

OCTOBER 29, 2016

I recently spoke at a Financial Managers' Society (FMS) breakfast meeting on this subject and thought I would share my comments with you. In 2006, when the median asset size within my firm's profitability outsourcing service was $696 million, the operating cost per business checking account was $586 per year.

Training 60

Training FDIC Community Resources 60

Celent Banking

JUNE 22, 2017

Source: FDIC, Celent analysis. In a May 2017 survey of Celent’s Branch Transformation Research Panel, we found that a significant majority of smaller institutions (those with assets less than $10 billion) are planning to increase the number of operational branches over the next two years – just the opposite among larger banks.

Study 125

Study Community Bank Trends Analysis 125

Independent Banker

SEPTEMBER 25, 2014

Anticipating what’s new for your community bank’s next field examination. This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. increased operational risks. By Karen Hoffman. Be aware of existing or emerging risk concerns.

Compliance 101

Compliance Regulation Community Bank Community 101

Independent Banker

FEBRUARY 24, 2016

Community banks cannot afford to ignore the staggering pace of lending adoption by both individuals and businesses using digital-only platforms from various nonbank technology-based specialty lending firms. But community banks should not be without hope, nor should they underestimate the significance of customer relationships.

Community Bank 70

Community Bank Community Lending FDIC 70

Independent Banker

DECEMBER 13, 2015

Even if you’re not required to use either version of the Cybersecurity Assessment, beta users say it can help your community bank gauge its cybersecurity risks and ultimately guard against cybercrime. At the Bank of Luxemburg, a $290 million-asset community bank in Luxemburg, Wis., See sidebar for details on the tool itself.).

Tools 70

Tools Community Community Bank Security 70

Independent Banker

NOVEMBER 24, 2015

Even if you’re not required to use either version of the Cybersecurity Assessment, beta users say it can help your community bank gauge its cybersecurity risks and ultimately guard against cybercrime. At the Bank of Luxemburg, a $290 million-asset community bank in Luxemburg, Wis., See sidebar for details on the tool itself.).

Tools 70

Tools Community Community Bank Security 70

Independent Banker

NOVEMBER 25, 2015

Regardless of the name, nonbank technology firms are wedging themselves between community banks and their customers by offering a slew of traditional and nontraditional banking products. This is why ICBA and community banks must continue to push consistent regulation of bank and nonbank financial service providers. Siphoning customers.

Community Bank 70

Community Bank Community Analytics Lending 70

Jeff For Banks

MAY 16, 2015

High level risk management reports (because more granular risk reports are reviewed in Committee) and trends. And most Board members have full time jobs! Financial reports for the current period, and trends. Budget variance reports 3. Financial progress towards strategic plan 4. Financial condition and performance versus peer 5.

Report 60

Report Policies Risk Management Meeting 60

Jeff For Banks

DECEMBER 26, 2012

In its latest investor presentation, BofI highlighted it''s expense ratio (operating expense as a percent of average assets) compared to peer as 1.67% versus 3.17%, respectively, and efficiency ratio (operating expense as a percent of total revenue) compared to peer as 35% versus 63%, respectively. Well done! #2. Well done! #3.

Texas 79

Texas National FDIC Capital 79

South State Correspondent

MARCH 15, 2023

While we wrote about the root cause of the failure of Silicon Valley Bank (SVB) HERE , the lessons of the current banking crisis go beyond interest rate risk management. Some form of this ratio will likely be applied to the national and regional banks, which means larger community banks will also be judged by this ratio.

social media 195

social media FDIC Branding Management 195

Jeff For Banks

SEPTEMBER 10, 2011

Bank of the Ozarks began in 1903 as a small community bank in Jasper, Arkansas, and by 1937, included an additional bank in Ozark, Arkansas. In 1979, George Gleason, a 25-year-old attorney, purchased controlling interest and assumed active management of the bank as Chairman of the Board and Chief Executive Officer.

Arkansas 66

Arkansas South Carolina FDIC North Carolina 66