DBA Digest for June 21, 2024

2024 Delaware Trust Conference!

Discounted Early Bird Registration Starts July 1st! Sponsorships Available!

Discounted Early-Bird Registration for the 2024 Delaware Trust Conference begins July 1st. 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! Sponsorships and Exhibitor Spaces are also available! Join prestigious sponsors: The Bryn Mawr Trust Company of Delaware (a WSFS Company); Gordon, Fournaris & Mammarella; McCollom D'Emilio Smith Uebler; Morris Nichols Arsht & Tunnell; and exhibitor: Delaware Community Foundation.

Full agenda coming soon!

Upcoming OnCourse Learning Webinars!

Understanding HMDA Compliance from A to Z - All Day Streaming - July 10th

7 CRCM Credits

HMDA compliance is tough! With all the data you are required to collect and report, there are bound to be mistakes. You can’t rest easy though because too many errors can lead to civil money penalties. Join David Dickinson as he walks you through the ins and outs of HMDA compliance from A to Z. 

Audience: This webinar is for loan officers, loan processors, compliance, audit, and other loan operations personnel. 

Privacy and Information Security – Critical Rules for Bankers - July 12th

2.5 CRCM Credits

Increasingly, privacy has become an important buzzword in banking circles. Customers are concerned about the privacy of their financial and personal information, and financial institutions are worried about how to keep all this information safe from intrusions and outright thefts. But what are the legal and regulatory requirements? 

Audience: Anyone involved in the managing of information and data in the institution must be aware of the privacy requirements and will benefit from this session. This includes not only compliance and legal professionals, but also technology personnel, line of business managers, and senior leadership, who are ultimately responsible for maintaining the institution’s privacy program. 

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

ABA Women Lead Symposium - July 17

At the Women Lead Symposium, you’ll acquire critical leadership skills that will advance your career and support women aspiring to lead in the banking industry. This half-day, virtual program is designed to help women and allies become inclusive, successful leaders. You’ll learn leading practices and actionable insights to engender a diverse working environment that improves your bank’s bottom line. You’ll also walk away with resources and a strong professional network that support women in banking.

Fulton Financial Corporation Declares Common and Preferred Dividends

Fulton Financial Corporation today announced that its Board of Directors declared a quarterly cash dividend of seventeen cents per share on its common stock, payable on July 15, 2024, to shareholders of record as of July 1, 2024.

In addition, Fulton announced that the Board declared a quarterly dividend of $12.81 per share (equivalent to $0.32025 per depositary share) on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, payable on July 15, 2024, to shareholders of record as of June 30, 2024, for the period from and including April 15, 2024, to but excluding, July 15, 2024.

Bank of America Private Bank Market Minute

Finishing in the green for the seventh week out of the last eight, the S&P 500 Index and Nasdaq Composite gained 1.6% and 3.2% last week respectively. Small-cap U.S. Equities continued to underperform their large-cap counterparts, with the Russell 2000 down 1.0% both over the week and year-to-date (YTD). The yield on the 10-year U.S. Treasury fell more than 20 basis points (bps) last week to a level last seen in March, closing on Friday at 4.22%. The yield on the 2-year U.S. Treasury fell similarly. Cooler-than-expected inflation data gave markets direction last week. The headline consumer price index (CPI) rose 3.3% year-over-year (YoY) in May, a tick cooler than April’s reading of 3.4%. Its core counterpart, which excludes food and energy, rose 0.2% month-to-month, the smallest increase in seven months. On a YoY basis, core inflation fell to 3.4%, the lowest level since April 2021. Also, below expectations, the producer price index (PPI) fell 0.2% in May after rising 0.5% in April.

AHP and Voluntary Housing Grant Funding Round

Opens June 27

The Federal Home Loan Bank of Pittsburgh is pleased to announce that approximately $48.7 million in Affordable Housing Program funding and $18.0 million in voluntary housing grant initiative funding (for in-district projects only) is available this year.

The AHP Online application portal opens on June 27, and all applications are due by 5 p.m. EDT on Thursday, Aug. 8. Awards will be announced on Thursday, Dec. 12.

Jenni Fleck Jones Receives University of Delaware Mentor Award

 Belfint Lyons & Shuman, CPAs marketing & college recruiting manager, Jenni Fleck Jones, is the recipient of the 2024 Brad Scott Excellence in Mentoring Award from the University of Delaware Lerner College of Business!

The Excellence in Mentoring Award was established in honor of Brad Scott, who passed away suddenly. Brad not only played a vital role in growing the Lerner Executive Mentoring Program but mentored and coached students throughout his time at UD. The award is given to a mentor who has demonstrated consistent, high-quality mentoring and goes above and beyond in mentoring Lerner students toward meeting their professional goals. Jenni was recently honored with this prestigious award at the Lerner Alumni Awards of Excellence Ceremony during Alumni Weekend.

Santora CPA Group Announces

Two Additions to Its Team

Brian A. Tuhy, CPA has joined SCG as a Supervisor in the A&A Department. He graduated from the University of Delaware with a Bachelor of Science Degree in Accounting. Brian’s prior experience includes nonprofit and healthcare clients with two other local CPA firms. Two of his specialties are Single Audits and investments. He is a member of the American Institute and the Delaware Society of Certified Public Accountants.

Nick R. Doldan has joined SCG’s Trust Services Team as a Trust Associate, after interning with SCG during the summer of 2023 and then again during his senior year. He is a 2024 graduate of the University of Delaware with a Bachelor of Science Degree in Political Science with a minor in Trust Management. Nick volunteers with the Townsend Fire Company, where he received the 2023 Firefighter of the Year award. Nick provides much needed support to the Trust Services Team.

Wilmington University Hosts Trust-Based Relational Intervention Caregiver Training - July 22-25

Join Wilmington University (WilmU) for Trust-Based Relational Intervention (TBRI®) Caregiver Training on July 22 – 25, 2024, from 9 a.m. – 5 p.m. Hosted at WilmU’s Brandywine campus and instructed by certified TBRI® practitioner Madelyn Wright, this training will guide caregivers in understanding the impact of trauma on children and their holistic development and will offer practices that help bring healing and growth in all aspects of children’s lives.