The future, as they say, is here. Here being Nashville, Tenn., where on the second day of ICBA Live, the future was carried onto a stage in the form of Sophia, a robot draped in haute couture in the style of Audrey Hepburn, a female gendered artificial intelligence who listened and was capable of engaging … Read more
The problem with community banks, according to a much criticized article in the Wall Street Journal, is that their ability to deliver the tech tools customers supposedly want pales when compared to the nation’s largest banks. And though core providers and fintech startups scramble to deliver feature after feature as bankers try to compete, it’s … Read more
The economy has a lot of influence on the de novo market, which might be picking up, albeit tepidly. James LaPierre, FDIC Kansas City Regional Director, shared at a seminar hosted by the Eide Bailly accounting firm that as of Nov. 1, that the FDIC has approved nine applications for FDIC insurance so far this year and the agency currently is considering 12 pending applications. [Continue]
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]