Banks are increasingly going to have to consider the implications of doing business with companies that come into contact with marijuana. Cannabis is now legal for medical use in 23 states; it is legal for recreational use in another 10 states, and it is legal in Canada. [Continue]
Merger and acquisition activity in the banking industry continues to touch about 5 percent of the nation’s banks. Roughly, the industry loses a bank every business day. As some new investor groups come forward, an acquisition doesn’t always mean the loss of a charter, but usually it does.
S. 2155, the reg relief bill passed in May, is likely to mean an increase in the number of potential buyers. Karen Grandstrand of the Fredrikson & Byron law firm in Minneapolis noted at the Bank Holding Company Association Fall Seminar in early October that the new law changes the meaning of “Systemically Important Financial Institution,” a designation created by the Dodd-Frank Act. [Continue]
How do banks remain relevant in an environment of disruption and disintermediation? You can start by creating an awareness of innovation throughout the organization, said Ross Manson, chief innovation officer at Eide Bailly. [Continue]
Jeffrey M. Szyperski, head of Kilmarnock, Va.-based Chesapeake Financial Shares, Inc., was elected chair of the American Bankers Association at its annual meeting. [Continue]
The Federal Reserve Bank of Minneapolis will no longer permit small bank holding companies looking to make an acquisition to use the “hypothetical dividend” approach, some attorneys say. [Continue]
Tony Sisto, chair of the board at STC Capital Bank, St. Charles, was elected 2018-2019 chair of the Community Bankers Association of Illinois at its annual meeting, held Sep. 26-30 in St. Louis. [Continue]
While acquisitions are often driven by a desire for growth and the need to obtain local deposits, navigating data processing company escape clauses can add overwhelming cost to a dynamic process. [Continue]
Key performance metrics at Minnesota’s state chartered banks haven’t changed much in the last year, said Max Zappia, Deputy Commissioner of Commerce, speaking to a group of more than 100 bankers on Sept. 27. [Continue]
By the end of 2018, bankers should begin to see their BSA compliance burden begin to lift, promised Joseph Otting, Comptroller of the Currency. [Continue]
Andrew J. Briggs has been elected 2019 chairman of the board of directors of the Indiana Bankers Association. His term begins Jan. 1. [Continue]