CFPB Monitor

JULY 15, 2020

When the OCC issued its final Community Reinvestment Act (“CRA”) rule on May 20, 2020, the agency acted alone without waiting to achieve consensus with the FDIC, the agency with which the OCC had jointly issued its proposed rule.

FDIC 78

FDIC Community Bank Community Regulation 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? Grow your loan portfolio. Learn More.

Community Bank 150

Community Bank Community Policies Survey 150

South State Correspondent

AUGUST 21, 2022

Last week we wrote about loan-level vs. balance sheet hedging for community banks and provided our loan proposal generator ( HERE ). We compared and contrasted the two strategies and sized the market for community banks. A community bank may transact one or only a few balance sheet hedges over many years.

How To 195

How To Community Bank Community FDIC 195

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

MAY 18, 2022

After moving alone in 2020 to reform its Community Reinvestment Act (CRA) regulation, the Office of the Comptroller of the Currency (OCC) has joined the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve Board in issuing a joint notice of proposed rulemaking setting forth proposed amendments to their regulations implementing the CRA.

FDIC 78

FDIC Regulation Community Lending 78

Abrigo

MARCH 9, 2015

The latest FDIC Quarterly Banking Profile was just released and the industry continues to be led by the nation’s community banks. Net income was up almost 28% over the fourth quarter of 2013 led by higher net operating revenue and lower loan loss provisions. percent of community banks were unprofitable during the quarter.

Community Bank 150

Community Bank Community FDIC Industry 150

Abrigo

MARCH 9, 2015

The latest FDIC Quarterly Banking Profile was just released and the industry continues to be led by the nation’s community banks. Net income was up almost 28% over the fourth quarter of 2013 led by higher net operating revenue and lower loan loss provisions. percent of community banks were unprofitable during the quarter.

Community Bank 150

Community Bank Community FDIC Industry 150

PYMNTS

APRIL 2, 2019

MOXY bank , preparing to be one of the first new community banks to launch in the U.S. Following approval by the Federal Deposit Insurance Corporation (FDIC) and Washington, D.C.’s ” The bank is gearing up to launch operations with a focus on under-banked customers and customer relationship building.

Community Bank 117

Community Bank Community FDIC Washington 117

PYMNTS

FEBRUARY 24, 2016

That growth, the FDIC said, came mainly from a $6.8 billion boost in net operating revenue, accompanied by a $2.7 More than half of the 6,182 institutions that reported to the FDIC showed growth year over year in earnings in the latest quarter. In reference to community banks, the 5,735 that reported said they had $5.1

FDIC 100

FDIC Community Bank Maine Community 100

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

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

Abrigo

JANUARY 22, 2015

According to a recent survey from four Federal Reserve Banks, small regional and community banks have the highest approval rate for small business loans. The 2014 Small Business Credit Survey was a joint operation conducted by the Federal Reserve Banks of New York, Atlanta, Cleveland and Philadelphia.

Community Bank 150

Community Bank Community Regional Cleveland 150

Abrigo

APRIL 12, 2016

The FDIC is offering a fresh take on how a bank’s board of directors should understand and manage risk. The regulator’s April edition of Supervisory Insights provides what the FDIC called a “refresher” on its Pocket Guide for Directors, the 1988 booklet outlining the basic duties and responsibilities of a bank’s board of directors.

Management 150

Management FDIC Risk Management Community Bank 150

CFPB Monitor

DECEMBER 19, 2019

The OCC and FDIC have issued a joint proposal to revise their regulations implementing the Community Reinvestment Act (CRA). Although the Federal Reserve, OCC and FDIC, are the primary CRA regulators, the Fed did not join the proposal and presumably will issue a separate proposal. ” Click here to register.

FDIC 78

FDIC Regulation Community Retail 78

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

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

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

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. Exciting things to come!

Community Bank 78

Community Bank Community Minnesota Metro 78

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 107

Fresno North Carolina Raleigh FDIC 107

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

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. Frequently asked. Seldom answered. Each board member is an ingredient in the effectiveness of the entire board.

Community Bank 60

Community Bank Community FDIC Dallas 60

Jeff For Banks

JANUARY 12, 2019

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. Frequently asked. Seldom answered. Each board member is an ingredient in the effectiveness of the entire board.

Community Bank 60

Community Bank Community FDIC Dallas 60

PYMNTS

JANUARY 13, 2021

All eyes are on the small business community in the commercial card world as industry players increasingly explore how card products can help Main Street recovery and stay in business. FDIC) and the Treasury Department have reportedly launched an inquiry into American Express Co. Amex Under Fed Scrutiny Over SMB Card Practices.

Cards 167

Cards Apple FDIC Samsung 167

PYMNTS

SEPTEMBER 30, 2020

House committee this week began reviewing the idea of allowing the likes of Amazon or Facebook to receive charters to operate as banks — an idea that’s already gotten plenty of pushback from traditional financial institutions (FIs). FDIC), the states and the courts.

Regulation 349

Regulation National System Industry 349

Abrigo

MAY 5, 2022

Other podcasts might be internationally based and of little interest to community financial institutions or credit unions based in the U.S. Main Street Banking: A Podcast for Community Bankers 8. It also examines how community banks are different than other types of financial institutions, along with strategies for optimal operations.

Community 195

Community Lending Maine Resources 195

PYMNTS

FEBRUARY 8, 2019

The news comes as five federal agencies spoke in October on how credit unions, as well as community banks, can share resources to make BSA compliance streamlined and bolster AML efforts. FDIC) and the Comptroller of the Currency were involved in the discussion.

FDIC 134

FDIC Community Community Bank National 134

PYMNTS

OCTOBER 17, 2017

An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956. Square already has an SMB lending arm – Square Capital – which it operates through a deal with Utah-based Celtic Bank.

Industry 108

Industry Fintech FDIC Community Bank 108

PopularBank

AUGUST 31, 2022

As a bank built on strong ties to the clients and the communities we serve, offering a competitive and a financially inclusive suite of products is a strategic priority,” said Manuel Chinea, Chief Operating Officer at Popular Bank. Committed to empowering our customers’ financial journeys. “As

New Jersey 52

New Jersey Florida FDIC New York 52

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

Abrigo

JULY 10, 2023

As we harness the power of AI to enhance operational efficiency, detect patterns, and optimize decision-making processes, financial institutions must remain vigilant. Your financial institution can help build awareness and encourage best practices for protecting personal information by providing educational materials to your community.

Fraud 150

Fraud How To social media Security 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.

Community 67

Community New York FDIC Philadelphia 67

PYMNTS

AUGUST 22, 2016

According to the FDIC, banking branches are at their lowest level in a decade with only 93,283 left open. The traditional branch costs roughly $2-4 million to set up and $200,000-400,000 per year to operate, according to Ed O’Brien, an analyst at Mercator Advisory Group. . Why don’t we close 400 or 500 branches?”

FDIC 100

FDIC ATM Community Bank Digital Banking 100

Gonzobanker

MAY 4, 2020

And businesses that deferred moving online or had no reason to operate online have made the leap practically overnight.”. million fundraise including community bank participants Bank of St. Elizabeth, Coastal Community Bank, First Financial Bank, Kearny Bank, Provident Bancorp and Sunwest Bank. customer impact.

Fintech 109

Fintech FDIC Capital Community Bank 109

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

PYMNTS

FEBRUARY 15, 2019

Those agencies include the aforementioned FinCEN, the Federal Reserve , the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA) and the Office of the Comptroller of the Currency (OCC).

Compliance 122

Compliance Fraud United States FDIC 122

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. SBA loan origination can be especially lucrative for community financial institutions now.

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. SBA lending is especially lucrative for community financial institutions now. Offering SBA lending at the institution is a good way to “get in the door” with good credits.

Lending 195

Lending FDIC Capital Risk Management 195