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With consumer expectations seeming to evolve faster every year, communitybanks could consider partnering with a fintech to keep up with technological innovation. Those conversations, he says, centered around whether communitybanks could compete against this brash group of newcomers. Photo by Pogonici/iStock. Quick Stat.
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An event at EMS in June brought together (L–R) Clear Mountain Bank president/CEO Dave Thomas, ICBA president Rebeca Romero Rainey, FHLBank Pittsburgh president/CEO Winthrop Watson, and Tim Critchfield, EMS owner/president. Name: Clear Mountain Bank. Consider, for example, its commercial lending approach. By Mindy Charski.
Ours, who is Senior Vice President and Director of Credit Administration of Summit and its 32-location bank subsidiary, Summit CommunityBank Inc., Lending & Credit Risk. During the webinar, Felicity Ours, CPA, CRC, of Summit Financial Group (NASDAQ: SMMF), a $2.2 Transition to CECL with confidence. Get started.
New Military Lending Act regulations kick in next fall. Following a three-year study on predatory lending, the U.S. Department of Defense has now issued the final rule to implement the Military Lending Act. Mary Thorson Wright , a former Federal Reserve managing examiner, is a financial writer in Virginia.
This is particularly true for communitybanks preparing to undergo their next regulatory safety and soundness or compliance examination. Regulators and industry consultants agree that communitybanks are generally doing a great job handling their regulatory oversight and requirements. increased operational risks.
IB: Who should use LinkedIn at your communitybank and why? Gemmill: The way I look at it, every employee is a bank ambassador. Pulse is an excellent way to keep abreast with topics of interest to the bank and individual, whether operations, lending or business development.
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Cordia Bancorp recently sold its student lending platform due to concerns about loan concentrations. In doing so, the Virginia company provided another example of why it is difficult for smaller institutions to gain traction in marketplace lending.
To make the CMS framework effective, every communitybank needs to customize it in the context of its profile and performance. Just how can your communitybank do all of those things? Here are sets of relevant CMS questions your communitybank should ask: Does HMDA (or the MLA) apply to our bank?
Union Bankshares in Virginia is among the ranks of banks nearing $10 billion in assets. Unlike many banks of its size, Union feels no pressure to pursue a transformational deal to offset increased regulatory costs.
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billion-asset bank in northern Virginia with strong mortgage originations and a growing wealth management business. The acquisition of Middleburg Financial would create a nearly $2.5 It would provide an endgame for Middleburg while also making Access more appealing to potential buyers.
Jim Justice alleges that Carter Bancorp engineered a technical default on a multi-million lending relationship and has blocked his company's efforts to refinance with other lenders. The lawsuit extends a dispute that started after the death of the bank's founder in 2017.
million gets the vaunted consumer lender a much-prized bank charter, low-cost deposits to juice current earnings, and a business lending capability to drive future growth. The Bank That Gets Fintech. Goes to Larry Mazza and the crew at MVB Bank in West Virginia. This is the age of digital lending.
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