DBA Digest for July 19, 2024

Delaware Trust Conference

HURRY - Discounted Early-Bird Registration is Half Over! Save $300 through August 2nd!

Catch the Early-Bird before it flies away! Save $300 with discounted Early-Bird Registration for the 2024 Delaware Trust Conference is open through August 2nd! The 2024 Delaware Trust Conference will be live at The Chase Center on the Riverfront, AND live-streamed, October 28 and 29. The sessions will also be available on-demand through November!

Delaware Trust Conference Sponsorships Available!

Sponsorships and Exhibitor Spaces are now available for the 2024 Delaware Trust Conference! Join prestigious sponsors: 

Platinum Sponsor

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

Diamond Sponsors

Connolly Gallagher

Glenmede

Gordon, Fournaris & Mammarella

McCollom D'Emilio Smith Uebler

Richards Layton & Finger

Young Conaway Stargatt & Taylor

Gold Sponsors

BMO Delaware Trust Company

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

Morris Nichols Arsht & Tunnell

The Northern Trust Company of Delaware

Silver Sponsors

Chilton Trust

Commonwealth Trust Company

Greenleaf Trust Delaware

Pinion

Santora CPA Group

U.S. Trust Company of Delaware  

Bronze Sponsors

Belfint Lyons & Shuman

Duane Morris

Exhibitors

Delaware Community Foundation

FideliTrade Incorporated

Koplin Consulting

National Care Advisors

Pinion

2024 FDIC Directors' College - September 11

Registration is now open for the 2024 FDIC Directors' College, September 11, 8:00 to 1:00, at the Old Location – University of Delaware Virdin Center, 1155 College Drive, Lewes, DE. The FDIC Directors’ College is an interactive program that 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. Modules this year include: Identifying Redlining Risk; Liquidity Contingency Planning and Risk Mitigation; Risk Assessments - The Basics, the Benefits, and the Pitfalls; Conversation with Regulators; and an Economics/Banking Update. Lunch is also included. Please click on the link below to view the detailed agenda and to register.

Upcoming OnCourse Learning Webinars!

Commercial Lending Program - August 1 & August 12th

How sound is your commercial lending training program and how do you manage it? This unique training program will equip your lenders with the comprehensive credit skills they need to analyze a commercial lending request and prepare a highly effective credit write-up. The program emphasizes the competencies needed to identify, interpret, and analyze risk. 

Community Reinvestment Act (CRA) Deep Dive - All Day Streaming - August 6th

6 CRCM Credits

This all-day streaming session will go over the details of the new Community Reinvestment Act (CRA) and point out important differences between it and current requirements. We’ll discuss who has to do what and when, and we’ll set the stage for individual banks’ formation of working groups and stakeholder meetings, so you can understand how these changes impact your bank. We’ll pay particular attention to the timeframes involved, as implementation will be somewhat of a phased process. 

Learn more and browse all the webinars via the link below.

Fulton Financial Corporation Announces Second Quarter 2024 Results

Fulton Financial Corporation reported net income available to common shareholders of $92.4 million, or $0.52 per diluted share, for the second quarter of 2024, an increase of $33.0 million, or $0.16 per share, in comparison to the first quarter of 2024. Operating net income available to common shareholders for the three months ended June 30, 2024 was $82.5 million, or $0.47 per diluted share, an increase of $17.1 million, or $0.07 per share in comparison to the first quarter of 2024.

"The second quarter was an extraordinary quarter for Fulton. I want to personally thank both our new Republic teammates and our dedicated Fulton team for an exceptional effort," said Curtis J. Myers Chairman and CEO of Fulton Financial Corporation. "Fulton's solid performance, steady business trends and stable asset quality were supplemented by a meaningful contribution from the Republic transaction."

Bank of America Private Bank Market Minute

U.S. Small-caps outperformed their Large-cap counterparts last week, with the Russell 2000 Index benchmark up 6% over the week to its highest level since January 2022. The S&P 500 and Nasdaq Composite saw weekly gains of 0.9% and 0.3% respectively, while the Dow Jones Industrial Average (+1.6%) closed last Friday above the 40,000 level and just short of its all-time high. The Russell 1000 Value Index (+2.7%) outperformed its growth counterpart (-0.4%) by its largest margin since mid-April. The yield on the 2-year U.S. Treasury fell 15 basis points (bps) to its lowest level in over five months. Providing markets direction, June’s Consumer Price Index (CPI) report was released last Thursday, revealing that inflation fell 0.1% in June—the first monthly decline since May 2020. CPI inflation stood at 3.0% over the last year, down from 3.3% in May. Also, cooler than expected, core CPI excluding food and energy rose 0.1% in June and 3.3% year-over-year (YoY). The Producer Price Index (PPI) climbed 0.2% in June, driving prices up a hotter-than-expected 2.6% over the year while May’s reading was upwardly revised from 2.2% to 2.4%

AHP Online Now Open for 2024 Application Input

The 2024 funding round for the Affordable Housing Program (AHP) and voluntary housing grant initiative is now open with approximately $48.7 million in available funding for AHP and $18 million for the voluntary housing grant initiative. All 2024 forms, guides and application attachments are currently available on FHLBank’s website. Forms may be downloaded, completed and then uploaded to AHP Online.

Gordon, Fournaris & Mammarella, P.A. Ranked Band 1 by 2024 Chambers High Net Worth Guide

Gordon, Fournaris & Mammarella, P.A. (GF&M) has been ranked as Band 1 in Delaware Private Wealth Law for the 2024 edition of Chambers High Net Worth (HNW) Guide, which is the guide’s highest ranking. Chambers sources define GF&M as a “high-end practice” and further provide that the firm has “grown into an incredible department” and has “market leaders…who are so willing to share their educative views.” “They are absolutely top notch for high net worth clients,” a source noted.



GF&M has consistently had at least four attorneys individually ranked in the Chambers HNW Guide since the guide’s inception. This year, five of GF&M’s directors were individually ranked in the Chambers HNW Guide for 2024. Ranked in Private Wealth Law are Peter Gordon (Band 1), Michael Gordon (Band 1), Kimberly McKinnon (Band 2) and Daniel Hayward (Band 2). William Kelleher has been ranked Band 1 in Private Wealth Disputes.

Morris Nichols Ranked Band 1 for Delaware Private Wealth Law and Private Wealth Disputes by Chambers HNW 2024

Morris Nichols has again been ranked in the 2024 edition of Chambers High Net Worth, the international guide to the world’s leading high-net-worth advisors. The firm has earned the highest Band 1 ranking for Delaware Private Wealth Law for the ninth consecutive year, since the guide’s inception. Morris Nichols is also the only firm ranked Band 1 for Delaware Private Wealth Disputes this year.

Attorneys Todd Flubacher, Matt Clark, and Zach Haupt are distinguished as leaders in their field. Todd is recognized in Band 1 for both Private Wealth Law and Private Wealth Disputes. Matt is ranked Band 1 for Private Wealth Disputes. Zach is recognized as an Up-and-Coming attorney for Private Wealth Law.

Chambers sources note, “Morris Nichols’ private client practice has the benefit of deep technical expertise.” Another source espouses the team’s “consistent clarity and quality” and their “ability to handle sophisticated matters.”

Webinar: The CFPB’s New Offenders Registry and Contract Language Warnings: Need-to-Know Information for Banks and Nonbanks

Join us, Tuesday, July 23, 2:00 - 3:00 p.m. (ET), for an in-depth discussion on the latest foray by the Consumer Financial Protection Bureau (CFPB) to enhance its supervisory and enforcement authorities through aggressive rulemaking. This webinar will cover a recently issued final rule the CFPB says will help detect and deter violators of consumer protection laws. The rule requires certain nonbank entities to register with the CFPB upon becoming subject to any order from local, state, or federal agencies or courts involving consumer protection law violations.

Wilmington University Virtual Open House - August 7th

Join Wilmington University at its Virtual Open House on Wednesday, Aug. 7 from 7 a.m. – 7 p.m. Live chat with faculty and staff, explore programs, learn about Dual-Credit ADVANTAGE™ and more. Plus, join our College of Health Professions staff at 1 p.m. to learn about our health sciences programs and at 4 p.m. to explore our nursing programs.

UD Trust Management Golf Classic - September 23!

Golf enthusiasts and supporters of the UD Trust Management Minor, On September 23, 2024, the UD Trust Management Minor is hosting the 2^nd Annual Trust Management Classic at Newark County Club. Sponsorship opportunities and golf registrations are available. Take advantage of the 10% early bird registration discount now until August 15, 2024. For questions, please contact Jennifer Zelvin McCloskey at lerner-trustmanagement@udel.edu