South State Correspondent
NOVEMBER 12, 2014
'If you are looking for examples of how banks have to change, stop by Grow Financial Federal Credit Union the next time you are in Tampa and see Natalia Spratlen. Grow Financial FCU presents a nice, open small footprint branch space and creates an environment of high productivity. That is not unusual these days as lots of banks are now redesigning their branches.
Abrigo
NOVEMBER 5, 2014
'During a recent webinar, more than 200 banks and credit unions weighed in through various polls on how they have been managing their allowance for loan and lease losses. In particular, feedback was given on how they release reserves, use an unallocated reserve and use external Q factor(s) most heavily. The first topic of discussion was whether or not banks have released reserves in the past four quarters.
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Celent Banking
NOVEMBER 12, 2014
'Since the launch of neo-banks like Moven , Simple , and GoBank , financial institutions in the US have been avidly monitoring their popularity. Some have written them off as non-starters; others have praised them as disruptors. In recent months, however, the neo-bank model has hit a few stumbling blocks that call into question the promise of the digital-only model, and gives credence to the sceptics.
Finer Points
NOVEMBER 24, 2014
'As we look toward Thanksgiving with thoughts on all of life’s blessings, community bankers recently got a bit of good news that we can all be thankful for. Following relentless ICBA outreach, the administrator of the Libor index announced it is waiving a $16,000 annual fee for more than 6,000 community banks. That is a […].
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Independent Banker
NOVEMBER 24, 2014
'ICBA inaugurated its Community Banker of the Year award program this year to recognize the exceptional work of the individual employees of ICBA member community banks. The association accepted nominations online throughout the month of September, allowing anyone to recommend a community banker for consideration. Judging Criteria. More than 400 community bankers were nominated by their colleagues and professional associates for the Community Banker of the Year recognitions.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
South State Correspondent
NOVEMBER 4, 2014
'Once upon a time there was a bank that was close to failure. It used to be a great bank with branches filled with vibrant customers and earnings as thick as Kansas soil. However, over time customers moved on and the staff started to feel that they had little to offer compared to the largest of banks. This was a bank that was dying a slow death.
Abrigo
NOVEMBER 29, 2014
'It’s high time for a foundational shift in the resources bankers use to calculate the ALLL. Years ago, using spreadsheets was by far and away the best option – primarily because it was the only option. To those in the early 20th century, the typewriter was the most efficient way to write letters and the Model T was the latest and greatest in transportation.
Celent Banking
NOVEMBER 11, 2014
'There is a lot of hype around wearables (smartwatches, fitness bands, etc.) and they may have all kinds of interesting potential. This potential, particularly for banking is still to be determined. However, I believe that there is a great opportunity for certain wearable devices to provide strong authentication and enhance the user experience ( see this blog entry ).
CFPB Monitor
NOVEMBER 14, 2014
'Richard J. Andreano, Jr. The CFPB entered into a stipulated order and final judgment with Franklin Loan Corporation (Franklin) to settle allegations that Franklin paid its employee loan originators compensation based on the interest rates charged on mortgage loans in violation of the Regulation Z loan originator compensation rule. Without admitting or denying the allegations, Franklin agreed to pay $730,000 in connection with the settlement.
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Independent Banker
NOVEMBER 24, 2014
'“I believe that you need to get in the trenches with your people and give them a helping hand. One person cannot do it all—there’s just way, way, way too much to do.” —Jim Gowen, Merchants & Planters Bank. In Arkansas, Jim S. Gowen Sr. offers a “humanly simple” leadership style of looking out for others. Central Region Award Recipient. Jim Gowen Sr. , Merchants & Planters Bank.
Jeff For Banks
NOVEMBER 28, 2014
'As a former sailor, I take offense to the post title. As if I spent my family''s food money on alcohol while on shore leave. I only spent my food money. But the phrase is synonymous with spending money without direction or regard to consequence. And sometimes, we bankers fall into the trap of not considering our operating expenses as strategic investments.
South State Correspondent
NOVEMBER 18, 2014
'At our core, banks are risk-adverse. It’s a good thing too, as we are all more leveraged than the average hedge fund such that each decision is amplified. Every time the sun comes up it is a roll of the dice as the market forces of credit, interest rate, liquidity and a dozen of other risks assault a bank. What separates success from failure is a bank’s ability to understand what risks to avoid, what risks to broker, and what risks to exploit.
Abrigo
NOVEMBER 24, 2014
'The prevalence of stress testing within banks and credit unions has risen considerably in recent periods thanks to increased regulatory attention and the benefit of greater insight into financial institutions’ portfolios. While there aren’t set requirements in place for those under $10 billion in assets, interagency expectations have been set for stress testing by community banks.
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Celent Banking
NOVEMBER 7, 2014
'I’m on my flight back from Las Vegas and thinking about how to encapsulate the highlights of Money 20/20. Its third year was the biggest yet, capped at 7,500 people (not counting the Fire Marshals patrolling the hallways). At many conferences I’m able to distill several distinct themes; this time, the overwhelming impression was the emphasis on …. PARTNERSHIP.
CFPB Monitor
NOVEMBER 21, 2014
'Jeremy T. Rosenblum Director Cordray’s remarks to the Clearing House yesterday should unsettle bankers and payday lenders alike. In his talk, Director Cordray challenged bankers to bow to the inevitable. He suggested that sooner, rather than later, the industry should invest the billions of dollars required to build a payment system with “faster and even real-time payments” where “the interests of consumers remain at the top of [bankers''] minds.” The system envisi
Independent Banker
NOVEMBER 24, 2014
'“From the beginning, we’ve really tried to keep things simple. We let our actions speak for the bank.” —Mark Zaback, Jonah Bank of Wyoming. Under the big Montana sky, Mark Zaback helps lead a community bank with a cowboy code. Western Region Award Recipient. Mark Zaback , Jonah Bank of Wyoming. Casper, Wyo. Title: CEO. Bank assets: $280 million. Retail locations: Three.
Jeff For Banks
NOVEMBER 19, 2014
'I posed this question to a Fed economist today. Her answer: lack of capital. The above chart is from a Federal Reserve Bank of San Francisco Economic Letter: Slow Business Start-ups and the Job Recovery published in July. But in strategic planning retreats that I moderate, community financial institutions insist that they lend to small businesses. In fact, when I recently spoke to a group of New York bankers, I opined that community FIs would lend to small businesses only if they have three yea
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South State Correspondent
NOVEMBER 25, 2014
'Since summer, there has been a wave of shared experience started by a largely unknown French economist that produced “Capital in the Twenty-First Century.” Written by Thomas Piketty, the tome has become the conversation piece du jour among bankers. In case you missed it, the book is about economic inequality. This is no Fifty Shades of Grey, as considering the book is 700 pages packed with data, French economic history and obscure references to Jane Austen, it is wonderment that it is a bestsel
Abrigo
NOVEMBER 21, 2014
'Final guidance on the Current Expected Credit Loss (CECL) model has been an anticipated event in the eyes of bankers and other financial professionals. Its release marks the end of the incurred loss model in accounting for expected losses and brings with it a slew of process changes in the way financial institutions collect data and perform their ALLL calculations.
Celent Banking
NOVEMBER 26, 2014
'Usually, during the Autumn season, I make a few trips to the United States for conferences and client visits. This year was no exception and I have recently come back from two trips to Las Vegas and San Antonio. EMV migration in the US was high on the agenda during both visits and I came back with two takeaways: 1) the US market is finally serious about EMV and preparations are going full steam ahead and 2) I am glad it is happening.
CFPB Monitor
NOVEMBER 3, 2014
'Reid F. Herlihy Six leading industry trade groups have submitted a letter commenting on the CFPB’s proposed rule amending Regulation C to expand Home Mortgage Disclosure Act data reporting requirements. The trade groups consist of the Consumer Bankers Association, Mortgage Bankers Association, American Bankers Association, Consumer Mortgage Coalition, Financial Services Roundtable and Housing Policy Council.
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Independent Banker
NOVEMBER 13, 2014
'Current Tech. By Maria Korolov. It’s called ATM cash-out fraud, and it’s a new data security threat where physical attacks and cyberattacks converge. Earlier this year, federal regulators warned financial institutions against criminal attacks on their ATM systems. But instead of breaking into the physical machines directly, some criminals are now aiming at the bank systems that control the machines.
Jeff For Banks
NOVEMBER 9, 2014
'Every strategic planning retreat has its own flavor. This one particular retreat included a parade of investment bankers conveying the virtues of deal making while the audience of senior bank executives and board members nodded their heads in unison and solidarity. One question that was unasked was whether it is better to seek acquisitions or go it alone.
South State Correspondent
NOVEMBER 24, 2014
'We think this is a brilliant calculation and sums up the current environment nicely. According to our friends over at Continuity Control (with a cool phone number of 888.We.cmply), there were 82 new regulatory changes in 3Q that took up 3,404 pages – the most since 1995. In response to those changes, community banks had to spend 653 hours (the full-time employee equivalent of 1.86 bankers) just to read, understand and comply.
Abrigo
NOVEMBER 20, 2014
'In preparing for the allowance for loan and lease losses (ALLL) calculation in 2015, bankers have a lot on their plates. The ALLL has received significantly more attention in the past few years, and the trend of examiner scrutiny does not appear to be letting up. If anything, regulatory bodies will be focusing even more on the allowance calculation in 2015 as institutions switch from an incurred loss model to an expected loss model.
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