DBA Digest for July 22, 2022

TWO WEEKS Left to Save $200!


Save $200 on full access registration to the 2022 Delaware Trust Conference now through August 5th! 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:

Chilton Trust

CommonwealthTrust Company

Cover & Rossiter

First StateTrust Company

Greenleaf Trust Delaware

New York Private 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



National Care Advisors

Weiner Benefits Group

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

Trust Conference Webpage

Business Writing Workshop!

On-Line - August 3rd

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)


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

Fulton Financial Corporation Announces Second Quarter 2022 Results

Fulton Financial Corporation reported net income available to common shareholders of $67.4 million, or $0.42 per diluted share, for the second quarter of 2022, an increase of $5.7 million, or 9.2%, in comparison to the first quarter of 2022. The Corporation reported net income available to common shareholders of $129.2 million, or $0.80 per diluted share, for the six months ended June 30, 2022, a decrease of $3.7 million or 2.8%, in comparison to the six months ended June 30, 2021.

"Overall, we are pleased with Fulton's performance and results for the second quarter. Loan originations were strong, we began to see the positive impact of rising interest rates, and fee income was solid despite headwinds in mortgage banking and our wealth management businesses," said E. Philip Wenger, Chairman and CEO.

Full Story

Pressure Testing:

The Northern Trust Economics Team Shares Its Outlook for Growth, Inflation and Interest Rates

In the depths of the COVID downturn and recovery, we made an effort to stop using the word “unprecedented.” While it was true that the economy had never seen such a tremendous contraction and bounce back, the word did not aid anyone’s understanding of how to deal with the crisis. Two years later, as we contemplate the growth outlook, we again are in unexplored territory: Recession fear continues to rise, but the markers of a classical recession are not yet evident.

Our primary source of confidence in growth is the strong state of the labor market. As long as people are working, economic activity will carry on and recession risk is mitigated. Inflation is a growing constraint, placing the expansion at risk. Our base case remains a growth slowdown, but not an outright recession.

Full Story

Bank of America Market Minute

Stocks remained volatile last week, as inflation data and the first major Q2 corporate earnings were reported. The Consumer Price Index (CPI) rose 1.3% over the month of June, compared to a 1.0% increase in the month of May. For the 12 months-ended in June, the index rose 9.1% with Energy contributing nearly half of the total rise in the index. Core CPI (less food and energy) rose 0.7% in June and 5.9% from the past year. The University of Michigan Consumer Sentiment Index indicated that Americans felt marginally better about their financial situation than they had in June, with a preliminary reading at 51.1 for July and better than the reported 50.0 in June. The Census Bureau’s retail sales report for June topped forecasts, rising 1.0% month-over-month and 8.4% above June of last year. With the Federal Reserve (Fed) now going into a quiet period ahead of the July 27 monetary policy decision, earning season will likely be the focus with 72 companies in the S&P 500 set to report Q2 earnings. Of note, BofA Global Research is now forecasting a mild recession in the U.S. economy this year and expects Q4 2022 gross domestic product (GDP) to decline 1.4%, followed by an increase of 1.0% in 2023.

Full Story

Richards, Layton & Finger “Has a Reputation in Delaware that Is Second to None” 

Richards, Layton & Finger’s trusts and estates practice and directors have been recognized in Chambers HNW, the international guide to the world’s leading high-net-worth advisors. The firm has earned the guide’s highest Band 1 ranking. F. Peter Conaty Jr., Beth Gansen Knight, and W. Donald Sparks II are recognized for excellence in Private Wealth Law, and Chad M. Shandler is named in Private Wealth Disputes. 

Chambers HNW notes that “Richards, Layton & Finger has a reputation in Delaware that is second to none.” Considered “experts in their field” (Chambers HNW), the firm’s trusts and estates lawyers provide sophisticated, customized solutions to sensitive matters. They represent financial institutions, corporate fiduciaries, and high-net-worth individuals in complex estate planning, trust and estate administration, tax issues, and fiduciary matters, including litigation.

Full Story

McCollom D'Emilio Smith Uebler Honored

by Chambers

In its 2022 guide, Chambers High Net Worth ranked McCollom D’Emilio Smith Uebler LLC (MDSU) for Private Wealth Law in Delaware. “They have got a great practice.” remarked a source regarding the MDSU Trusts and Estates group.

MDSU partners Matthew D’Emilio and Jennifer Smith were also recognized in the Chambers High Net Worth 2022 rankings for Private Wealth Law in Delaware. 

D’Emilio was recognized in the Band 2 category. Smith was recognized in the Band 3 category. D’Emilio focuses his practice on estate planning and wealth transfer, estate and trust litigation, estate and trust administration, business transactions, and tax law. “He has a very good work ethic,” says a source, who adds: “He handles a lot of different matters and handles them well.” This is D’Emilio’s seventh year as a Chambers’ honoree.

Smith focuses her practice on estate planning, estate and trust administration, tax planning wealth preservation, and fiduciary litigation. Noted by a peer “Jennifer is a pleasure to work with.” This is Smith’s fifth year as a Chambers’ honoree.

Full Story

William Chapman of Potter Anderson & Corroon Elected to Law Firm Antiracism Alliance Board of Directors

Potter Anderson & Corroon LLP announced that Judge William Chapman has been elected to the Board of Directors of the Law Firm Antiracism Alliance (LFAA). As a member of the board, Chapman will help direct the efforts of LFAA to fulfill its mission of bringing about systemic change and racial equity in the law.

“It’s an honor to be elected to the Board of Directors for the Law Firm Antiracism Alliance where we are working to leverage the alliance’s resources for pro bono initiatives,” said Chapman, Chief Diversity Officer, Director of Pro Bono Services and Senior Counsel at Potter Anderson & Corroon. “The mission of the LFAA is consistent with our firm’s longstanding commitment to social justice. In June 2020, we joined the LFAA as the firm recognized that we could do more to support those who faced marginalization, oppression and violence.”


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Greg Koseluk at greg.koseluk@debankers.com