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Many banking organizations had a record year in 2020 and are wondering how to obtain a return on increased capital to best benefit the long-term strategic goals of the bank. This has resulted in an uptick in M&A activity and an analysis of new lending and investment opportunities. One area that many banks overlook, however, is the ability to return capital to shareholders via a tender offer. [Continue]
The USDA issued a press release in which they indicated that the transfer tax proposed in the American Families Plan will not affect 98 percent of farm estates. However, the details are lacking and most farm families that keep the farm in the family may not owe any transfer tax — but they will owe a lot more income tax under the proposal. [Continue]
Despite the boom-bust cycles of the ag economy, a Walmart-driven retail migration from Main Street to the edge of town, factory closings and a devastating fire in the dead of winter, Maquoketa and DeWitt remain vibrant towns in eastern Iowa, largely due to engaged community leadership, including the bankers at Ohnward Bancshares. Leveraging local expertise and resources, the 11,000-some area residents sustain a hopeful future. [Continue]
Now as we step fully into an age of remote work, digital transformation within the industry has accelerated and customers’ demands and expectations for digital banking services have increased. While implementing digitalization through internal technology sounds straightforward enough, bringing it to the consumer-facing level involves more of a balancing act. [Continue]
Robert Fisher was elevated to chair of the Independent Community Bankers of America today in a virtual event; the association’s annual convention originally was planned to take place in Hawaii. Fisher, a fifth generation banker, is president and CEO of Tioga Bank in Spencer, N.Y. [Continue]
Despite the pandemic, banks are flush with deposits, and loan demand, including a Paycheck Protection Program, that has kept bankers busy. Liquidity isn’t a problem. But as conditions change as a result of the pandemic, bankers must ask themselves: How can I capitalize on what I already have? [Continue]
From weather disasters and a pandemic to an increased use of technology that is helping farmers control their own destinies, ag bankers in central states experienced a lot in 2020. Now they look ahead to what 2021 holds, expecting more of the same challenges and uncertainty. [Continue]
As a director serving two boards, I can tell you that 2020 reinforced its no-star rating by the challenges it afforded leadership in banks large and small. In both cases, for me, dealing with substantive and emotional issues under significant time constraints made me grateful that both of my boards are strategically focused and functionally practical. But that’s not always the case. [Continue]
Partnerships with community organizations are critical for banks to meet their CRA responsibilities. Working on their own, banks can spend days just vetting organizations for CRA-eligible funds, and community groups often struggle to get banks to bite. Through a program called Investment Connection, eight Federal Reserve Banks are taking a “shark tank,” or speed-dating approach to the set-up, assembling a neighborhood of options. [Continue]
When an organization is the victim of a cybersecurity breach, the immediate concern is the compromised data. The damage to brand reputation, potential lawsuits, regulatory fines and stringent compliance oversight are sure to follow — carrying a hefty price tag — all of which is a sober reminder that the breach itself is only the beginning of a long road ahead. [Continue]