DBA Digest for August 5, 2022

The Early Bird Flies Today! August 5th!


Discounted Early-Bird Registration ends August 5th. Save $200 on full access registration to the 2022 Delaware Trust Conference 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:

BNY Mellon Wealth Mangement

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

Registration Now Open!

FDIC Directors' College -

September 23rd, Hyatt Place, Dewey, DE

Registration is now open for 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.


Bank of America Market Minute

Clawing back some losses from the first half of the year, the S&P 500 gained 9.1% over July while the Dow Jones Industrial Average rose 6.7%, capping the strongest monthly gains for each index since November 2020. The NASDAQ climbed 12.3% for its best month since April 2020. As expected, the Federal Reserve (Fed) raised rates last Wednesday by 75 basis points (bps) for a second straight meeting. The cumulative 150 bps interest hike in June and July marks the highest increase since the Volcker days. The yield on the benchmark 10-year U.S. Treasury note edged down to 2.64% by last Friday from 2.80% earlier in that week. U.S. employment costs rose in Q2 by more than forecast—the employment cost index, a broad gauge of wages and benefits increased 1.3% in the April to June period. Data last Thursday showed the U.S. economy shrank for a second quarter in a row at an annual rate of 0.9% following a 1.6% decline in Q1 of the year. Data earlier in the week from the Conference Board reported the Consumer Confidence Index at 95.7 for July compared to 98.4 in June, marking the third consecutive fall of the index. A parade of Q2 earnings results from over 56% of S&P 500 companies have been generally better than feared, as analysts continue to lower earnings per share estimates for Q3. This week expect another busy week for earnings season while July’s Institute for Supply Management (ISM) Purchasing Managers’ Index (PMI) will be reported Wednesday and the Bureau of Labor Statistics’ July jobs report is due Friday.

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Robin O’Brien celebrates 40 years with

Shore United Bank

Shore United Bank is happy to congratulate Robin O’Brien on 40 years of service. Robin began her career with the bank in August of 1982 at the Dover Street branch in Easton, Maryland, just two months after graduating high school. Her first position was on the front line, then moving to become a Customer Service Representative, followed by the role as Assistant Branch Manager and then Branch Manager.  Currently, she holds the position of Vice President, Loan Officer & Relationship Manager, assisting clients with new loan requests, managing a large loan portfolio, business development, and tackling personal banking responsibilities that includes assisting clients to help them with their financial goals.

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Whisman Giordano & Associates, LLC Ranks Nationally as “Best Accounting Firms to Work For” 

Whisman Giordano and Associates, LLC is pleased to announce that it has been recognized nationally as one of the 2020 Accounting Today’s Best Accounting Firms to Work for. Accounting Today partnered with Best Companies Group to identify companies that have excelled in creating quality workplaces for employees.


This survey and awards program identifies, recognizes and honors the best employers in the accounting profession, benefiting its economy, workforce and businesses. The list is made up of 100 firms.


President and Managing Partner, Joseph V. Giordano says, "We're honored to win this award. We're often heard saying that "we're not your ordinary accounting firm," and we're proud of that. Our team approach is the key to our success. It's gratifying to see that our employees, across all levels, feel positive and proud about working at Whisman Giordano. We encourage others in the accounting field to take a look at a career with us."


Troutman Pepper Insights:

Whose Crypto Is It, Anyway?

On July 18, the maxim “not your keys, not your coin” took on a whole new meaning for customers of the bankrupt cryptocurrency exchange Celsius Network LLC, which had filed Chapter 11 in the Bankruptcy Court for the Southern District of New York. At the first day hearing, attorneys explained the debtor’s view that cryptocurrency deposited on the exchange belonged to Celsius, not the depositors. They cited the terms of use for Celsius’ “Earn Rewards” program (Earn Program) where retail customers could place cryptocurrency into interest-bearing accounts, which Celsius then pooled to fund its lending, trading, and other operations. Under Celsius’ terms of use, “all rights and title” to coins in the Earn Program are transferred to Celsius, and Celsius is free to use, sell, pledge, and rehypothecate those coins.


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