DBA Digest for August 12, 2022

The Early Bird Extended!


Miss the Discounted Early-Bird Registration period? No, you didn't! Early Bird Registration for the 2022 Delaware Trust Conference has been extended through August 19th. Save $200 on full access registration! The 2022 Delaware Trust Conference will be live at The Chase Center on the Riverfront, AND live-streaming, on October 18 & 19, AND on-demand through November! The agenda is filled with a stellar lineup of speakers. 18 CLE credits are available, including 2.0 ethics credits. Follow the links below to view the agenda and register.


The List of Sponsors Keeps Growing!

(Is Your Company Represented?)

Join the prestigious Sponsors and Exhibitors for the 2022 Delaware Trust Conference Make sure your firm is represented alongside these companies.

Platinum Sponsor:

The Bryn Mawr Trust Company of Delaware (a WSFS Company)

Diamond Sponsors:

Brown Brothers Harriman Trust Co. of Delaware, N.A.

Connolly Gallagher


Gordon, Fournaris & Mammarella

McCollom D'Emilio Smith Uebler LLC

Richards, Layton & Finger, P.A.

Young Conaway Stargatt & Taylor LLP

Gold Sponsors:

BMO Delaware Trust Company

Charles Schwab Trust Company

Morris, Nichols, Arsht and Tunnell

The Northern Trust Company of Delaware

Wilmington Trust

Silver Sponsors:

BNY Mellon Wealth Management

Brown Advisory

Chilton Trust

Commonwealth Trust Company

Cover & Rossiter

Evercore Trust Company, N.A.

First StateTrust Company

Greenleaf Trust Delaware

New York Private Trust Company


PNC Delaware Trust Company

Santora CPA Group

Truist Delaware Trust Company

Bronze Sponsors:

Bank of America, Private Bank

Belfint, Lyons and Shuman, P.A.

Duane Morris LLP


Brown Brothers Harriman


National Care Advisors

Reich & Tang + Total Bank Solutions

Weiner Benefits Group

Whisman Giordano & Associates

See all the sponsorship benefits and download the Exhibitor's Book on the conference webpage.

Trust Conference Webpage

Mid-Atlantic Bank Executives Forum:

September 11-13 - Lansdowne Resort

Join bank executives from five states along with a select group of industry partners for networking and sessions with nationally recognized speakers geared specifically for bank CEOs and other senior leaders.

NEW PROGRAM: Exploring the Future of Work: Join bank executives from five states in this unique, intensive experience that allows leaders to collaborate, ideate and explore the future of the workforce landscape together.


Register for both and receive a discount on your Mid-Atlantic Bank Executives Forum registration!

Agenda & Registration

FDIC Directors' College -

September 23rd, Hyatt Place, Dewey, DE

Don't miss the 2022 FDIC Director's College, September 23, 8:30 a.m. to 1:30 p.m at the Hyatt Place Dewey. The FDIC Directors’ College provides ongoing education on current topics of bank supervision to bank directors, senior officers, corporate secretaries, and board advisors. The course is designed to help directors and trustees, both new and experienced, stay abreast of the ever-changing regulatory environment.

This year's agenda includes: Asset-Liability Committee (ALCO) Oversight, AML/CFT Risk Assessing, Third-Party and Risk Management, a conversation with regulators, and an Economic and Banking update. Registration is $299.00/per person, with a discount of 15% for ten or more registrants. To take advantage of this group rate or to register multiple attendees, please reach out to Renee Rau at Renee.Rau@debankers.com


New- Ask the Fed®: Energy Update:

Oil & Gas- August 16

High oil and gas prices have both direct and indirect effects on prices across the world’s basket of commodities, impacting consumers and businesses alike. Not surprisingly, many have asked what can be done in the U.S. and other countries to rebalance global supply with demand for oil and gas. So what does this all mean for banks?

Please join speakers Senior Business Economist Garrett Golding, Senior Business Economist Jesse Thompson, Senior Bank Examiner Thom Quint and Senior Bank Examiner Marshal Boumeester for a discussion about the oil and gas market and observations on bank lending.


Pain Relief:

The Northern Trust Economics team shares its outlook for growth, inflation, and interest rates.

The year to date has brought a series of escalating worries: Will rising energy prices derail the recovery? Will inflation ever calm? Have we entered a recession? While we can address each of those questions on their merits, it was easy to feel overcome by a pervasive sense of fear.

As summer concludes, some of that fearful sentiment is dissipating. Many inflationary drivers are cooling, inventories are recovering, and risk assets are appreciating. A soft landing (lower inflation, steady growth, and minimal job losses) is still possible. However, we see no reason to expect a boom; the recovery is in a delicate position, and our outlook is for low but positive growth in the year to come.

Full Story

Bank of America Market Minute

Closing out the first week of August, Equities were mixed. The S&P 500, Nasdaq Composite and Russell 2000 finished with gains, while the Dow Jones Industrial Average and S&P MidCap 400 declined. Technology continued its outperformance, while five of 11 major S&P 500 sectors declined, led by Energy and Real Estate. Several employment reads were released, with the Job Openings and Labor Turnover Survey falling to its lowest level in nine months to 10.7 million in June, down from 11.3 million in May. Hiring eased slightly to 6.4 million versus May’s 6.5 million while quits were little changed, 4.2 million versus 4.3 million. The payrolls report released Friday unexpectedly showed 528,000 jobs added in July, more than doubling estimates for 250,000. The unemployment rate dipped to 3.5% from 3.6%, matching its February 2020 level. Total nonfarm employment in the U.S. has now returned to its prepandemic level. This week, the Bureau of Labor Statistics will release the Consumer Price Index (CPI) for July on Wednesday, followed by the Producer Price Index (PPI) on Thursday as investors consider the Federal Reserve’s (Fed) pace of interest rate hikes to tamp down inflation. Capping the week, the University of Michigan will release its Consumer Sentiment Index for August on Friday

Full Story


OCC to Host Virtual Innovation Office Hours

The Office of the Comptroller of the Currency (OCC) announced that it will host virtual Innovation Office Hours on September 28–29, 2022, to promote responsible innovation in the federal banking system.

Office Hours are one-on-one meetings with representatives from the OCC Office of Innovation to discuss financial technology (fintech), new products or services, partnering with a bank or fintech company, or other matters related to responsible innovation in financial services. Each meeting lasts no longer than one hour. Interested parties should request a virtual Office Hours session by August 26, 2022, and are asked to provide information on the topic(s) they are interested in discussing with the Office of Innovation. The OCC will determine specific meeting times and arrangements after it receives and accepts the requests.


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.

BLS CPAs a Four-Time Winner of Best of Accounting for Service Excellence

Belfint Lyons & Shuman, CPAs (BLS),a leading accounting firm announced that they have earned the Best of Accounting Award for providing superior service to their clients. They are the only Delaware-based firm to have earned this award four years in a row! ClearlyRated’s Best of Accounting® Award winners have proven to be industry leaders in service quality based entirely on ratings provided by their clients. On average, clients of 2022 Best of Accounting winners are 60% more likely to be satisfied than those who work with non-winning firms. BLS received satisfaction scores of 9 or 10 out of 10 from 88.1% of their clients, significantly higher than the industry’s average of 53%.

“The entire BLS Leadership team is incredibly proud of the feedback we received through our client survey. Being client-focused and open to continuous improvement is instrumental in ensuring our service philosophy is designed to meet the expectations of the great people and organizations we serve. The testimonials and positive responses validate the tremendous efforts of the BLS Team and are motivation to keep raising the bar in the future.” BLS Director, Jonathan D. Moll, CPA said.

Full Story

Morris James Announces Nationwide Investigation into Camp Lejeune Water Contamination

Following the congressional passage of comprehensive Federal veterans' healthcare legislation, Morris James announces its nationwide representation of injured persons, predominantly former Marines and their families, who were exposed to the tainted water supply during a nearly four-decade period.

The Camp Lejeune water contamination crisis occurred at Marine Corps Base Camp Lejeune in Jacksonville, North Carolina, from 1953 to 1987. During that time, United States Marine Corps (USMC) service members and their families living and working at the base bathed in and ingested tap water that was contaminated with harmful chemicals at concentrations from 240 to 3400 times levels permitted by safety standards. An undetermined number of former base residents and workers subsequently developed cancer or other ailments.

Full Story

DEBCC 2nd Anniversary Gala - September 16!

Join the Delaware Black Chamber of Commerce as they celebrate their 2nd Year Anniversary at the DuPont Country Club.  The Fundraising Gala is a formal attire event. Open Bar!  Keynote Speaker: Dr. Randall Pinkett

Members Only $300; Non-Members $350.


We want to hear from you! Please send your news items to
Greg Koseluk at greg.koseluk@debankers.com