South State Correspondent

SEPTEMBER 22, 2015

Seeing that we are in the heart of bank strategic planning season one major difference between average and high performing banks are the use of “lead measures.” Most banks come out of their planning effort with a series of lagging metrics such as “Achieve 12% ROE,” or “Reduce efficiency below 65%.” These measures are good because they measure achievement of a goal but they are not optimal because they are not instructive in helping you achieve those goals.

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Finer Points

SEPTEMBER 22, 2015

When most people want a tissue, they say they need a Kleenex. When you cut your finger, you don’t say you need an adhesive bandage—you need a Band-Aid! When you need to make a photocopy, regardless of the brand of the machine, you make a Xerox copy. Many marketers would consider this a compliment, especially […].

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Branding Marketing Washington Community Bank 217

Abrigo

SEPTEMBER 24, 2015

The Financial Accounting Standard Board’s proposed move to the current expected credit loss, or CECL, is top of mind for many of the bankers and industry experts attending the 2015 Risk Management Summit presented by Sageworks. Presentations at the conference, which kicked off Wednesday in Chicago and runs through Friday, have focused on how financial institutions will be impacted by the transition from the existing incurred-loss model, as well as what banks and credit unions can do now to bette

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Risk Management Management Conference Data 190

Celent Banking

SEPTEMBER 22, 2015

Last week I had the pleasure of going to Finovate, a biannual event (at least in NA) where start-ups and established vendors show off their newest creations. My colleague Dan Latimore wrote an in-depth piece about it last week. It’s usually a good temperature read of where the market is and what banks are thinking about. PFM used to be hot, now it barely makes an appearance.

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Trends Mobile Tools Retail 177

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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

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South State Correspondent

SEPTEMBER 21, 2015

The future in banking looks like fewer, but more experienced bankers. Consolidation of banks will continue, but more digital-based alternative lenders will appear. The banker that can deliver solid financial advice to their client will always be in demand and will be able to garner a premium price for his or her services.

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Abrigo

SEPTEMBER 22, 2015

Earlier this month the Federal Financial Institutions Examinations Council (FFIEC) announced that it plans to lighten the regulatory load for small financial institutions by cutting back on data required for an institution’s quarterly call reports. By eliminating or revising some of the items that banks must include in their call reports the FFIEC hopes to streamline the reporting and decrease the amount of time spent on them.

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Community Bank Community FDIC Survey 174

SWBC's LenderHub

SEPTEMBER 22, 2015

How often do we spend time with a customer and only complete their requested transaction? Have you considered that you could be missing out on offering additional financial solutions? Having a conversation may lead to additional financial success for your customer; however, I'm not suggesting that you just “talk” without truly having a two-way conversation.

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Management 87

South State Correspondent

SEPTEMBER 24, 2015

This isn’t a personal question, but it is a question that is growing in popularity. Knowing that efficiency is highly correlated to return, many banks, including us, are taking a look at their largest processes (like lending) and going to their Gemba to do it. With more banks adopting a Six Sigma approach ( HERE ) and with banks cutting obvious costs, now is time to reassess your banks production of credit, deposits and services.

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Lending US 216

Accenture

SEPTEMBER 25, 2015

In my previous post we looked at the importance of crafting the right digitally-enabled risk management approach—a forward-looking strategy that helps encompass the rapid pace of technology change. But just how do we get there? At RiskMinds International, I offered. Read more.

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Risk Management Strategy Management Technology 150

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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

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Abrigo

SEPTEMBER 25, 2015

It will come as no surprise that one of the largest concerns facing accounting firms today is staffing. For some firms, the way to solve this is by ensuring there is a greater gender balance among the staff. Although women are entering the profession in higher numbers than ever before, they are dramatically underrepresented in terms of partners. According to the AICPA , 48 percent of employees in CPA firms are women, yet only a mere 24 percent are partners and principals.

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Mississippi Leadership Millennials Taxes 150

Independent Banker

SEPTEMBER 22, 2015

Avoiding potential lending hazards from regulatory flood-insurance requirements. By Lindsay LaNore. These days, it takes a pair of rubber rain boots or waders to walk through the flood of proposed rules, final rules, amendments and effective dates for flood insurance requirements. Recently Congress passed the Biggert-Waters Flood Insurance Reform Act of 2012, followed by the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA).

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Regulation Policies Community Bank Taxes 81

South State Correspondent

SEPTEMBER 23, 2015

We visit hundreds of bankers each quarter, and we note some of the following industry pressures: margin compression, decreasing credit standards and lack of earning assets. To combat these challenges, bankers are deploying various strategies, which include, adding business lines, hiring better talent, consolidating assets, streamlining some long-held processes and upgrading systems.

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Strategy System Industry 214

Accenture

SEPTEMBER 21, 2015

For the year-to-date at the end of August 2015, the total number of bitcoin transactions has increased by 70% over the same eight-month period in 2014. For the month of August 2015, the average daily volume of Bitcoin transactions was. Read more.

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Bitcoin cryptocurrency 150

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Abrigo

SEPTEMBER 22, 2015

Republished with permission from Business Valuation Resources ( www.bvresources.com ). No two cases are alike, and different jurisdictions approach goodwill and noncompete agreements differently, cautions Jim Alerding (Alerding Consulting LLC), in response to the BVWire item on the Mauceri Texas divorce case, in which Bob Dohmeyer (Dohmeyer Valuation Corp.) was the prevailing expert.

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Wisconsin United States Texas Resources 150

Independent Banker

SEPTEMBER 21, 2015

Cautiously and sparingly, only a few tread non-Qualified Mortgage ground. By Howard Schneider. Under the right circumstances, providing residential mortgages that fall outside of the new federal Qualified Mortgage definition could help a community bank grow its lending, some community bankers say. Done carefully, originating so-called non-QM loans could give some community banks greater underwriting leeway to serve more homebuyers.

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Community Bank Lending Community Survey 76

CFPB Monitor

SEPTEMBER 22, 2015

Christopher J. Willis. On September 17, I had the opportunity to speak on a panel at the American Bar Association’s Consumer Financial Services Committee meeting in Chicago (which was held as a part of the ABA Business Law Section Annual Meeting), covering the topic of how financial institutions can serve consumers with limited English proficiency (LEP).

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Lending Regulation Guidelines Chicago 73

SWBC's LenderHub

SEPTEMBER 21, 2015

Well, we’ll give the Fed this, they do keep it interesting! They could have made what would have essentially been a symbolic hike of 25 basis points to the funds rate, issued a dovish statement for the future and closed a fun filled six-year chapter in their history. But they didn’t. If you thought things were confusing before last Thursday, wait until something good happens, like China announcing a massive stimulus plan, or oil stabilizes and starts rising on a production accord.

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Marketing 65

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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.

Lending

Abrigo

SEPTEMBER 19, 2015

Despite a report that two FASB board members will vote against the final version of the current expected credit loss (CECL) model, a spokeswoman told Sageworks Friday that the board continues to expect to issue the standard by year end. “FASB staff currently is drafting the final standard on impairment, which will be discussed by the Board during a public meeting in the coming months,” spokeswoman Christine Klimek said in an email.

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Resources Meeting Conference National 150

Independent Banker

SEPTEMBER 22, 2015

Consumers feel today’s overregulation—and they aren’t happy about it. By Mitch Ashlock. Arecent National Mortgage News article pointed out that “consumers complain when lenders ask for information, even suggesting such requests are a violation of their privacy.” Having worked in banking for nearly 23 years and having been preceded in executive leadership by my father and grandfather at our family’s community bank, I have repeatedly heard similar statements from our mortgage customers.

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Maine Regulation Washington Community 76

CFPB Monitor

SEPTEMBER 24, 2015

Barbara S. Mishkin. The CFPB has announced that it will hold a field hearing about arbitration in Denver, Colorado on October 7, 2015 and has asked Alan Kaplinsky, Practice Leader of Ballard Spahr’s Consumer Financial Services Group, to represent industry at the hearing. As the CFPB typically uses field hearings as the venue for announcing new developments, we expect the CFPB has scheduled this hearing in anticipation of taking the next step towards issuing a proposed arbitration rule.

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Industry New Jersey Denver Colorado 69

Jack Henry

SEPTEMBER 24, 2015

Author: Jason Schwabline, JSchwabline@jackhenry.com.

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Mobile 88

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Lending

Banking 2020

SEPTEMBER 22, 2015

Leave it to quantitative research when you want answers to questions like “where?” “what?” and “how much?”. When you want to know “why?” it’s time for qualitative. You know all about debt-to-equity ratios, discounted cash flow and option pricing—clear cut areas that you can determine through quantitative research. But what do you know about the drivers of industry cycles?

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Analysis Guidelines Training Industry 54

Independent Banker

SEPTEMBER 21, 2015

Tips on how to keep up with never-ending Bank Secrecy Act compliance. By Karen Epper Hoffman. Forewarned is forearmed. It may seem lately that complying with Bank Secrecy Act and anti-money laundering rules is a Sisyphean task. There’s always another rock to turn over somewhere. Compliance experts say that by planning ahead, reviewing current compliance status and risks, using technology when needed, and staying up-to-date with training, community banks can indeed weather the storm of regulatory

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Training Compliance Community Bank Community 70

CFPB Monitor

SEPTEMBER 22, 2015

Barbara S. Mishkin. The CFPB has published a final rule regarding various annual adjustments it is required to make under provisions of Regulation Z (TILA) that implement the CARD Act, HOEPA, and the ability to repay/qualified mortgage provisions of Dodd-Frank. The adjustments made by the final rule are effective January 1, 2016. The CARD Act requires the CFPB to calculate annual adjustments of (1) the minimum interest charge threshold that triggers disclosure of the minimum interest charge in

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Cards Regulation Payments 69

ABA Community Banking

SEPTEMBER 24, 2015

More banks going beyond compliance, but tech not up to task yet Management Duties Technology Compliance.

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Strategy Compliance Management Technology 61

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The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.

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