Abrigo
MARCH 31, 2015
'Unlike many traditional accounting services, such as tax preparation and auditing, valuation work is often a one-and-done kind of engagement. Recurring projects with the same client aren’t very common, unless it’s an annual assessment of an Employee Stock Ownership Plan (ESOP) or something similar. As a result, bringing in new clients is a top priority for valuation and forensic accountants.
South State Correspondent
MARCH 31, 2015
'One problem with training bank staff is the proverbial “Man with a hammer syndrome.” If you only have a hammer, then every problem appears to be a nail. In other words, if your bank has only solved problems one way, then it is a fair bet to say that they will keep on solving problems the same way.
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Celent Banking
MARCH 31, 2015
'Last week was busy for Celent: on Monday we hosted our annual Innovation and Insight Day at Carnegie Hall (more on that later). Tuesday we assembled the Celent team from around the globe for our annual in-person meeting. We find that even in this age of virtual teams and instant connectivity, there’s no substitute for face-to-face interaction; our gathering confirmed that.
Finer Points
MARCH 29, 2015
'The House Financial Services Committee last week advanced five ICBA-advocated bills to provide regulatory relief to community banks. The bills, which are inspired by ICBA’s Plan for Prosperity platform, would rein in community bank overregulation on several fronts. The package of bills—the first in what we expect to be a series of volleys against regulatory […].
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Independent Banker
MARCH 30, 2015
'I’ve Enjoyed the Ride! By John H. Buhrmaster, Chairman of ICBA. A dozen years ago when I attended my first ICBA convention in Orlando, I never could have imagined that I would be sitting here today as chairman of your great national association, writing my 12th and final chairman’s column for Independent Banker. Yet here I am, reminiscing about the past year—one that has been so many things and has meant so much to me and my family.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
MARCH 26, 2015
'So meecard created by Whitney2327585 If you’re an accountant, a CPA or an auditor, March may very well be the most grueling month of the year. You’re probably up to your ears in #busyseasonproblems like being overloaded on caffeine, working on little sleep, and jealousy for missing out on the college basketball viewing parties happening in the outside world.
South State Correspondent
MARCH 30, 2015
'Why do some banks grind it out and struggle to produce a 9% return on equity ("ROE"), while other banks such as Bank of America and Chase produce 30% plus ROE for the same business segment? One answer is that banks that produce an above average ROE either have a more profitable customer segment focus, more profitable products or a more profitable business model.
Celent Banking
MARCH 16, 2015
'This last week the American Banker Retail Banking Conference 2015 was going on in Austin, TX. As expected, it was a great way to read the temperature of the banking industry. The conference was well attended, with broad representation from all institution sizes and markets. There were a couple of overarching themes throughout the event. Competitive pressures on smaller institutions were top of many bankers´ minds.
Finer Points
MARCH 11, 2015
'ICBA’s national convention is always an incredible experience. If you haven’t witnessed nearly 3,000 members of the community banking industry in the same place at the same time, you should make a point to do so at least once in your career. But there was something special about this year’s convention. There was a feeling, […].
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
Independent Banker
MARCH 18, 2015
'The 2014 ICBA Community Banker of the Year Awards are sponsored by D+H. [link]. Community bankers rarely work alone but instead are members of dynamic teams of entrepreneurs and visionaries. ICBA received more than 400 total nomination entries for the Community Banker of the Year Awards from co-workers, community members, directors and retirees. National Award Recipient.
CFPB Monitor
MARCH 30, 2015
'Barbara S. Mishkin. The CFPB has issued its fourth annual FDCPA report covering the CFPB’s activities in 2014. The section of the report that reviews consumer complaints about debt collection received by the CFPB in 2014 recycles information contained in the CFPB’s latest Consumer Response Annual Report. In the section of the report about the CFPB’s supervision of debt collectors that qualify as “larger participants,” the CFPB describes FDCPA violations found by i
Abrigo
MARCH 25, 2015
'By Brad Spence, Director of Valuation Solutions, Sageworks Accountants considering adding or expanding valuation services in their practice may wonder about the demand for valuation services and what kind of clients can benefit from a valuation or calculation engagement. According to valuation and forensic specialists queried in the 2014 AICPA Survey on International Trends in Forensic and Valuation Services , two recent and potential sources of business-valuation demand are shareholder/partner
South State Correspondent
MARCH 26, 2015
'Comedy may run headlong into drama for banks as asset-liability management (ALM) risk may bare its fangs for banks that aren’t careful. It is almost a joke on how much liquidity there is in the system and it would be funnier if banks were not potentially at the butt of the punchline. Unfortunately, for ALM practitioners, this environment is one that we have never seen so its lessons are likely to stick to the ribs of experience for some time.
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Celent Banking
MARCH 13, 2015
'Capgemini recently hosted a few dozen consultants and industry analysts to Chicago for their two-day Analyst and Advisor Day event. The presentations were held at the firm’s very impressive Accelerated Solutions Environment facility, with its dramatic curved glass exterior and prime views across the Chicago River to the famous Merchandise Mart. Unfortunately, it was typical Chicago winter weather with sub-zero windchills and snow flurries, but for those who braved the conditions it was a very
Jeff For Banks
MARCH 27, 2015
'The Credit Union National Association (CUNA), the credit union equivalent to the American Bankers'' Association (ABA), states that credit unions exist to serve members, returning earnings to members in the form of lower loan rates, higher interest on deposits, and lower fees. Nearly four years ago, I tested the higher interest on deposits claim in a guest post with the exact title on The Financial Brand , an industry publication geared towards marketing executives at banks and credit unions.
Independent Banker
MARCH 15, 2015
'Customer contact centers are reshaping retail service for the technology age. By Phil Britt. Sure, call me if you want. But how about using text, instant message, Twitter or email? Increasingly, more digitally connected consumers are saying yes to that question with their community bank. Some even assume their bank will interact with them however and whenever they want.
CFPB Monitor
MARCH 30, 2015
'Kim Phan. On March 26th, the Community Financial Services Association (“CFSA”) held a press call to address the CFPB’s rulemaking process for developing payday loan regulations. CFSA Chief Executive Officer Dennis Shaul offered brief opening remarks before answering questions from the press immediately prior to a CFPB field hearing on payday loans being held in Richmond, VA.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
Abrigo
MARCH 23, 2015
'It is only natural for community banks to have loan concentrations that result from the market(s) they serve and the markets they pursue. In today’s times, a high commercial real estate (CRE) concentration is often the result of community banks pursuing opportunity in the market. Consequently, interagency guidance on CRE concentration risk management , released in 2006, helps institutions pursue CRE lending with safety and soundness.
South State Correspondent
MARCH 25, 2015
'Honestly, we are not huge supporters of the opera and go there really only under special circumstances - like when we are forced to go there under gunpoint. Maybe it’s our ADD, or maybe we are too used to Game of Thrones, but in opera it can take a performer up to ten minutes to convey a simple concept such as, “She left me.
SWBC's LenderHub
MARCH 26, 2015
'Does your institution take advantage of tax season to increase auto loan promotions? If not, perhaps that is something you should consider, and for good reason. As of March 6, according to the IRS , the average tax refund is $3,034, a 3% increase from the same time last year. In addition, car sales tend to rise during tax season. According to Edumunds , car sales peaked around May for most manufacturers.
Jack Henry
MARCH 25, 2015
'Author: Rob Hudecek, RHudecek@profitstars.com. Traditionally many financial institutions offered lockbox services because they had to, not because they wanted to; and usually only to secure a high profile loan or depositor. This approach rarely works (whether it be for lockbox or any other venture). It is not by accident that many of the articles published on this blog focus on customer service as the strength of a community institution, and is often directly related to the community it helps c
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Independent Banker
MARCH 15, 2015
'Jack Hartings Photo by Michael Nemeth. Thoughtful lending and an open mind keep profits strong for incoming ICBA chairman Jack Hartings. By Kelly Pike. The Peoples Bank Co. Coldwater, Ohio. Assets: $450 million. Retail locations: Seven. Employees: 80. Shareholders: 260. Founded: 1905. Website: www.pbcbank.com. Jack Hartings may not always have been the most popular man in town during the run up to the mortgage crisis, but he was certainly one of the wisest.
CFPB Monitor
MARCH 30, 2015
'Barbara S. Mishkin. The CFPB’s Consumer Response Annual Report analyzing complaints handled in 2014 indicates that volume rose 53% from 163,700 complaints in 2013 to 250,200 in 2014. The report provides data on the most common types of complaints for each product, the handling of complaints, and median monetary relief. Of the 250,200 complaints received in 2014, approximately 67% were received through the CFPB’s website, 9% via telephone calls, 15% via referrals from other agencies and r
Abrigo
MARCH 20, 2015
'In the last several years following the Great Recession, the health of banks in the U.S. has been analyzed and debated. For the largest of American financial institutions – those that much of the public banks with for checking, mortgages and auto loans – stress testing regulations have been passed and executed to avoid a repeat of 2008. For those banks under the regulation’s asset size threshold, bank examiners encourage a variety of checks that can best help a Main Street bank from falling vic
South State Correspondent
MARCH 25, 2015
'After releasing Spanish text banking last year, Wells Fargo & Co. releases their new mobile banking app where you can set your primary language preferences to Spanish. This is key as capturing the Latino customer should be the focus of any large retail bank.
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