DBA Digest for April 19, 2024

Delaware Celebrates 26th Annual

“Teach Children to Save” Day!

DBA President Sarah Long addresses the Delaware General Assembly, April 17, as part of the 2024 Teach Children to Save Day event

Throughout this week, April 15th to April 19th, over 100 banker volunteers will taught over 5400 students in more than 210 public, private, and parochial classrooms throughout Delaware as part of the 26th annual Teach Children to Save Day. The total is an increase of 650 student over 2023. In addition, the lesson was also shared to an additional 1000 students in Pennsylvania, New Jersey, and Nevada.  The Delaware Legislature approved a resolution honoring the effort on Wednesday, April 17, 2024. Delaware Governor John Carney also issued a proclamation recognizing the event.

This year’s lesson is taken from the new comic book The Great Investo and Penny in The Amazing Money Stalk. The book illustrates the concept of compound interest and how it can work against borrowers but for savers. The book was written and illustrated by Greg Koseluk of the Delaware Bankers Association. Each student will receive their own copy of the comic book. The book was created specifically for the 2024 Teach Children to Save Day event and was made possible with the support of Barclays, Wells Fargo, Sallie Mae, Smarty Pig, TD Bank, Wells Fargo, WSFS Bank, Artisans’ Bank, Bank of America, Capital One, Fulton Bank, M&T Bank, Visa, Comenity Bank, County Bank, First Citizens Community Bank, and Shore United Bank.

You can read the comic book on the Teach Children to Save Day webpage.

Support House Bill 203 for Comprehensive Financial Education in Delaware!

As we observe Financial Literacy Awareness Month this April, it's time to address a pressing issue: the lack of financial education among our youth in Delaware. House Bill 203, championed by Rep. Jeff Hilovsky, R-Millsboro, is a vital step towards bridging this gap. This legislation mandates that high school students, starting with those entering 9th Grade in the 2025-2026 academic year, complete a half-credit course in financial literacy for graduation.

Financial illiteracy can lead to unemployment, stress, and economic hardship. By ensuring every Delaware student has equal and guaranteed access to a personal finance course in high school, we can empower them to make informed financial decisions and secure their futures. Visit the link below for more information on the Bill and how you can support it.

Women Connect - Next Week - April 25!

There's still time to register for the next Women Connect Network event, April 25, 8 a.m. to 1 p.m. at the Wilmington University Brandywine Campus! Featured sessions include Philanthropy – Ages and Stages; Women in Business; and, special remarks from Dr. LaVerne Harmon, President of Wilmington University. In addition there will be a showcase of locally women-owned businesses and a networking breakfast!

Thank you to sponsors: Charles Schwab, Federal Home Loan Bank of Pittsburgh, Fulton Bank, Pinion, and, Wilmington Trust!

DBA 129th Annual Meeting & Dinner,

May 9th - Rene Perez, Financial Crimes Expert, Keynote Speaker!

You won't want to miss the 129th Annual DBA Meeting & Dinner, May 9th at the DuPont Country Club. The keynote speaker for the evening will be Rene Perez, the National Director of Financial Crimes Sales & Financial Crimes Consultant with Jack Henry^sm. Rene has 23+ years of experience in the financial crimes industry and subject matter expert on financial crimes. He and has spoken at many major conferences including ACAMS®, Jack Henry Connect, and SAS’s Global Financial Crimes Conference. Rene has also written many different publications on Financial Crimes matters affecting the U.S financial sector.

Today is the last day to reserve your sponsorship! Join these prestigious sponsors: Bayard; Belfint Lyons Shuman; The Delaware Community Foundation; The Federal Home Loan Bank of Pittsburgh; Mayer Brown; McCollom D'Emilio Smith Uebler; Pinion; Potter Anderson Corroon; Richards Layton Finger; RKL CPA; S&P Global; Santora CPA Group; Troutman Pepper; Visa; Weiner Benefits Group; and, Young Conaway.

Bank table sponsorships are also available. Join Bank of America, Barclays, Capital One, Discover Bank, First Citizens Community Bank, JPMorgan Chase & Co.; M&T Bank, PNC Bank, Sallie Mae, US Trust Company of Delaware, Wilmington Trust, and WSFS Bank.

Dynamic Presentation Skills - April 30th

Are you aware that people can fear public speaking even more than dying? For those who want to conquer this common fear and those who already speak in front of groups but would like to do so with greater ease and effectiveness, this course can help! 

​Designed to put participants at ease while challenging them to apply concepts they’re learning (yes, by actually speaking), this course gives them essential tools for affecting others with their sales presentations, public speeches, presentations at meetings, and other speaking opportunities. Join Linda Comerford, Comerford Consulting for this valuable on-line course via Zoom Tuesday, April 30, 2024 9:00 AM - 4:00 PM. $199/per person ($249/non-members)

Get a FREE preview session - March 26 from 4:00 – 5:00 PM EST. Sign up below!

Breaking Bad Habits - May 14th

Bad habits—everyone has them. But unlike biting fingernails or a leaving cap off the toothpaste, bad writing and communication habits can be especially problematic in the business world. Why? Because those writing, speaking, and interpersonal communication habits are seen and heard by so many others, often daily. The result is that aware of it or not, everyone develops a communication reputation. Join Linda Comerford, Comerford Consulting for this valuable on-line course via Zoom, May 14, 2024: 9:00 a.m. to 12:30 p.m. Just $99 per person for DBA members/$149 per person for non-members.

Fulton Financial Corporation Announces First Quarter 2024 Results

Fulton Financial Corporation reported net income available to common shareholders of $59.4 million, or $0.36 per diluted share, for the first quarter of 2024, a decrease of $2.3 million, or 3.8%, in comparison to the fourth quarter of 2023. Operating net income available to common shareholders for the three months ended March 31, 2024 was $65.4 million, or $0.40 per diluted share⁽¹⁾, a decrease of $3.5 million, or 5.0% in comparison to the fourth quarter of 2023.



“We are pleased with our first quarter results, which are a good start to the year; operating earnings were solid, deposit growth outpaced loan growth during the quarter, net interest margin was in line with our expectations, and asset quality remained stable,” said Curtis J. Myers, Chairman and CEO of Fulton Financial Corporation. “We are focused and making progress on our strategic initiatives.”

Bank of America Private Bank Market Minute

Faced with stickier-than-expected inflation data, heightening tensions in the Middle East, and a mixed start to Q1 2024 earnings season, major U.S. Equity Indexes slumped last week. The S&P 500 and Dow Jones Industrial Average Indexes lost 1.6% and 2.4% respectively, while the Nasdaq Composite’s 0.5% decline added to a string of three consecutive weeks finishing in the red. The Russell 2000 Small-cap Index fell 3% over the week. Meanwhile, the yield on the 2-year U.S. Treasury flirted with 5% for the first time since November 2023. Rising too was the yield on the 10-year U.S. Treasury, which settled around 4.5% to end the week. The Chicago Board Options Exchange Volatility Index (VIX) jumped last Friday to its highest level since October 2023. In inflation news, the consumer price index (CPI) rose 0.4% in March and 3.5% over the year, above expectations. Its core counterpart (excluding food and energy components) rose 0.4% over the month and 3.8% compared to last March.

Jenifer Jurden is a Cartoonist from Wilmington who has graciously provided her Planet Jurdy cartoons for the DBA Digest. Jurdy® is her other-worldly "Hero of Happyness" whose cartoons bring levity to humans worldwide.

Wilmington University Open House - May 1st

Get to know Wilmington University at its Open House on Wednesday, May 1! Stop by online or in person at WilmU’s New Castle Campus to chat with faculty and staff, learn about Dual-Credit ADVANTAGE™, explore degree programs and more. Plus, join special information sessions throughout the day to learn how to get started at WilmU and to explore financial aid options available to help you offset tuition costs. The application fee will be waived at this event. RSVP at wilmu.edu/OpenHouse