DBA Digest for April 22, 2022
Volunteers Get Ready!
2022Teach Children to Save is All Next Week!
The 2022 Teach Children to Save Day effort starts Monday! If you've volunteered, make sure you review your lesson plan, practice reading the book, and watch the instructional video! Thank you for making a difference by teaching elementary school students how to develop good savings habits today for a financially strong future!

And thank you to all of the sponsors of this year's event: Discover Bank; Barclays; Capital One; TD Bank; WSFS Bank; Bank of America; Fulton Bank; M&T Bank; Wells Fargo; Artisans' Bank; Comenity; First Citizens Community Bank; and, Shore United Bank!
2022 DBA Annual Meeting and Dinner - May 12th - DuPont Country Club!
Registration Now Open!
Don't miss the Delaware Bankers Association's 127th Annual Dinner, May 12th, at the DuPont Country Club, 1001 Rockland Road, Wilmington.

Hear keynote speaker Mark Lally, the CEO of First State Compassion. After a 20 year career in law enforcement, Mark trailblazed Delaware’s medical cannabis industry, creating industry-leading procedures and policies while focusing on delivering the best products and services to thousands of patients every month.
Women Connect Retreat - May 26th!
Kickoff the Memorial Day weekend at the Hyatt Place in Dewey Beach and enjoy a refreshing mind and body morning, inspirational keynote, sit down lunch, and early happy hour! The Women Connect Network serves as a catalyst to engage, empower and connect women in the Financial Services Industry.

Sponsorships are available! Join these prestigious sponsors: Wilmington Trust; M&T Bank; Bank of America; The Bryn Mawr Trust Company of Delaware; Delaware Community Foundation; Pinion; County Bank; U.S. Trust Company of Delaware; and, Wilmington University! Email Corinne Stayton for sponsorship information.
Business Writing Workshop - On-Line - May 25th
Corporate communicators value this highly interactive workshop designed to resolve two of the biggest written communication challenges: writing more effective documents while following a more efficient process. Practical, lively exercises help increase skills in Paragraph Performance from introductions to conclusions, Sentence Sense, Word Wisdom, and Format Force. A review of practical grammar and punctuation rules is included. Documents and messages will look, sound, and feel more professional!

Workshop Objectives: 
• Identify varied audiences and purposes for writing;
• Polish rough edges of writing style in paragraphs, sentences, words, and format;
• Write more effective documents while following a more efficient writing process; and
• Apply course concepts to actual writing samples.

Cost: $199/per person ($249/non-members)
Fulton Financial Announces First Quarter 2022 Results
Fulton Financial Corporation reported net income available to common shareholders of $61.7 million, or $0.38 per diluted share, for the first quarter of 2022, an increase of $2.4 million, or 4.0%, in comparison to the fourth quarter of 2021.

"Overall, we are pleased with our first quarter results. Our consumer and commercial businesses had solid loan growth during the quarter despite the volatile rate environment. We again saw record income in our wealth management business. Our asset quality remained stable, and we saw a decline in operating expenses linked quarter," said E. Phillip Wenger, Chairman and CEO. "On the corporate front, we were pleased to be able to raise our quarterly dividend. And our announcement of our intent to acquire Prudential Bancorp, Inc. later this year will help grow Fulton's presence in Philadelphia, which is a strategically important market for us."
Ask the Regulators Webinar: Computer-Security Incident Notification Rule - April 28
On November 23, 2021, the Federal Reserve, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency (the Agencies) announced the approval of a final rule on computer-security incident notification to improve the sharing of information about cyber incidents that may affect the U.S. banking system. Compliance with the final rule is required by May 1, 2022.

On Thursday, April 28, 2022, at 2:00 ET, the Agencies will jointly host an Ask the Regulators webinar regarding this rule. The program is intended for banking organizations and their bank service providers, as defined in the computer-security incident notification final rule. During the webinar, the Agencies will respond to questions submitted in advance from banking organizations and bank service providers.

Please email questions in advance of the webinar to [email protected]. Questions received by April 20 will receive priority for responses from the panelists.
FDIC National Webinar:
Empowering Banks to Offer Affordable Accounts Using Core Technology - April 26
This webinar is for community banks to learn more about how to offer affordable accounts through core technology. Community bankers will share testimonies about how utilizing technical assistance provided by core providers increased their ability to offer affordable accounts and maintain competitiveness in a market where accounts with affordable features are becoming more prevalent. The core providers will discuss their experience working with community bank clients on this effort. Cities for Financial Empowerment Fund and American Bankers Association will discuss how their continued partnership has led to 200+ certified Bank On accounts to date. Event Date: April 26, 2022. Event Time: 1:00-2:30pm ET
McCollom D’Emilio Smith Uebler Partner Elected ACTEC Fellow 
Matthew P. D’Emilio, Managing Member of McCollom D’Emilio Smith Uebler LLC, has been elected a Fellow of the American College of Trust and Estate Counsel(ACTEC). Matt practices in the areas of estate planning and wealth transfer, estate and trust litigation, estate and trust administration, business transactions, and tax law. He routinely counsels both individual and corporate trustees in all matters related to estates and trusts, including providing representation in the Delaware Court of Chancery and the Pennsylvania Orphans’ Court.
 
ACTEC is a professional association of trusts and estates lawyers and law professors elected based on their outstanding reputation, exceptional skill, and substantial contributions to the field by lecturing, writing, teaching and participating in bar activities. With more than 2,400 Fellows practicing throughout the United States, Canada and other foreign countries, it is their aim to improve and reform probate, trust and tax laws, procedures, and professional responsibility. 
 
Santora CPA Group Announces
Four Additions to its Team
Santora CPA Group, a Newark-based Certified Public Accounting and Consulting firm, is pleased to announce the following additions to its team:
 
Joseph R. Meyer has joined SCG as a Staff Accountant. He is a graduate of Fairfield University in Connecticut with a Bachelor of Science degree in Accounting and a Master of Science degree in Accounting. Joey works on a variety of tax and audit engagements, and he is currently studying for the CPA Exam. He is a member of the AICPA and the DSCPA.
 
Michele J. Camponelli has joined SCG’s Small Business Services Department. She is a graduate of Wilmington University with a Bachelor of Science degree in Accounting. Michele provides much-needed bookkeeping support to SCG’s clients. She is currently working towards becoming a Certified QuickBooks ProAdvisor.
 
Justin A. Kemmerer, CPA has joined SCG as a Senior Accountant. He is a graduate of West Chester University with a Bachelor of Science degree in Accounting and Finance. With Justin’s prior experience working at other local CPA firms, he is a welcome addition to SCG’s team. He is a member of the AICPA and the DSCPA.
 
Andrea E. Mattson has joined SCG’s Small Business Services Department. She is a graduate of the University of Delaware with a Bachelor of Science degree in Business Administration. Andrea provides much-needed bookkeeping support to both SCG and its clients. She is currently working towards becoming a Certified QuickBooks ProAdvisor.
Jonathan Patterson Receives National Recognition as a 40 Under Forty by the NACVA and CTI
Belfint, Lyons & Shuman, CPAs (BLS) congratulates Jonathan A. Patterson, CPA, CVA for being recognized as a 2021 40 Under Forty honoree by the National Association of Certified Valuators and Analysts (NACVA) and the Consultants Training Institute (CTI).
 
Patterson is a principal and co-leader of the firm’s Litigation Support & Valuation Practice Group. His areas of expertise include business valuations, litigation, tax, and consulting. He is the firm’s go-to team member for providing expert testimony in court, when needed, and has extensive experience in marital law consulting and business valuations. He also serves on the firm’s engagements relating to law firm IOLTA pre-certifications and enjoys working with law firms. As a Certified Valuation Analyst (CVA), along with his experience and commitment, Patterson has been recognized in both New Castle and Sussex County Delaware as an expert in Family Court related to tax compliance and business valuations.
Cinnaire Closes $145 Million in Committed Capital for Development of Affordable Housing in Five States
Cinnaire has announced the closing of a $145 million Low Income Housing Tax Credit (LIHTC) equity fund that will finance the development or preservation of more than 1,600 affordable homes in five states. Nineteen investors, many of them repeat investors, are participating in the fund. 

Cinnaire’s Fund for Housing Limited Partner 37 (Cinnaire F37) will support 22 properties in Illinois, Indiana, Michigan, Minnesota, and Wisconsin. Ten percent of the overall investment support residents with special needs, including Prominence Commons which includes the acquisition and rehabilitation of several scattered sites in Portage, Indiana, totaling 38 affordable units, and the new construction of a 12-unit building totaling 50 units. Thirty of these units will serve those who are homeless or at risk of becoming homeless. The fund will also support Red Caboose Apartments, the new construction of 38 affordable homes for families in Madison, WI. Eight of these units will be held for households that include a family member with a disability. Movin’ Out, the project developer, will also be constructing a 28,000 square foot daycare facility for low- and moderate-income families. 
 
Troutman Pepper Insight: Comptroller of the Currency Cites TBTF Risks at Large Regional Banks
On April 1, Acting Comptroller of the Currency Michael J. Hsu stated that the OCC, under the “significant role” it plays in national bank mergers, is considering certain “resolvability safeguards” with its review of larger bank merger transactions. He expressed concern about a gap in the resolvability expectations of the eight U.S. global systemically important banks (GSIBs) and the largest non-GSIBs, what he calls “large regionals.” Hsu suggested that this gap may present a new too big to fail (TBTF) risk and indicated that new standards for the potential failure of large regionals may be on the horizon.

According to Hsu, the traditional purchase and assumption (P&A) transactions with FDIC loss-share provisions, if used by GSIBs to acquire failed large regionals, would result in “shotgun marriages” with multiple drawbacks, including: GSIBs would be made “significantly more systemic”; GSIBs would only be able to conduct minimal due diligence; There would be limited identification of integration challenges; and, Trust in the process, and the government’s involvement, would likely erode.
Wilmington University's Annual Golf Classic is BACK!
Wilmington University will be hosting the Annual Scholarship Golf Classic at Deerfield on Thursday, May 5, 2022. As a valued partner of Wilmington University, we invite you to participate by considering one of the many sponsorship opportunities we have available. We’re excited to be back on the green for 2022, and look forward to hosting an enjoyable event with game-day challenges, golfer gift packs, dinner with a silent auction, and live music. Participants will also have a chance to win a car through the Hole-in-One competition!
 
Every donation goes directly toward student scholarships. By sponsoring, be assured that you and your business will receive exposure from over 120 golfers, special guests, and fellow sponsors. We have enclosed an event prospectus we hope you’ll find helpful.
 
Thank you in advance for your generosity. If you’d like to save time, simply register online via the link below...
We want to hear from you! Please send your news items to
Greg Koseluk at [email protected]
‌