“It was the best of times.” The economy was humming along, and bank profits were stable to increasing; then, Covid-19 changed almost everything, and suddenly, “it was the worst of times.” A large part of the country and world went into shutdown, and economic turmoil ensued, followed by civil unrest. 2020 is a year of …
Are You Ready for Your Next Safety and Soundness Examination? (Spoiler alert: It Will Require you to Evaluate the Effect of the COVID-19 Pandemic on Your Bank) Did you know that, in June 2020, the federal financial institution regulatory agencies, in conjunction with the state bank and credit union regulators, jointly issued examiner guidance to …
Are You Ready for Your Next Safety and Soundness Examination? Read More »
It definitely could be, but let’s start with some not so ancient history. Back in late 2008-09, the Great Recession was beginning to cause serious headaches for many banks, even the strongest ones. Earlier that year I had committed to move forward with the business plan to start a new community bank, thanks to the …
Work out is coming back. Despite a cash infusion from the federal government designed to keep small businesses afloat, many will struggle to survive this ruthless pandemic economy. More loans will become more troubled and focus will shift from normal operations to work out. It’s inevitable. To be most effective, work out requires a trench …
Your Questions about COVID-19 and Regulators Today. Tomorrow. And Post-Pandemic By this time, you have already activated your financial institution’s Pandemic and Business Continuity plans. Your regulators are contacting you for updates. You are addressing customer service and staff needs. You are also working with your vendors to determine how COVID-19 will impact the …
It has been a month for the ages. The COVID-19 Pandemic has changed life as we know it, at least for now. I am not sure how long this pandemic will last. It will pass, but when? A stimulus package is on the way – a package designed not just to provide immediate relief, but …
Putting Your Business Continuity Plan to Work The COVID-19 crisis continues to evolve hour by hour throughout the world. The timeline for flattening the curve remains unclear. In response, federal and state governments around the country have become more aggressive in their actions to stem the spread of the virus. Clearly, we as a country …
Optimism – and a Solid Business Continuity Plan – are your Best Friends Right Now The world, the United States and, of course, the United States banking Industry have been dramatically affected by the COVID-19 (or Coronavirus) pandemic. As of the date of this posting, the Coronavirus situation remains fast-moving and confusing, and we are exposed …
