DBA Digest for June 28, 2024

2024 Delaware Trust Conference!

Discounted Early Bird Registration Starts Monday!

Discounted Early-Bird Registration for the 2024 Delaware Trust Conference begins this Monday, July 1st! Save $300 when you register between July 1st and July 31st! 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: The Bryn Mawr Trust Company of Delaware (a WSFS Company); Glenmede; Gordon, Fournaris & Mammarella; McCollom D'Emilio Smith Uebler; Young Conaway Stargatt & Taylor; Morris Nichols Arsht & Tunnell; Belfint Lyons & Shuman; and exhibitor: Delaware Community Foundation.

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.

Bank of America Private Bank Market Minute

Major U.S. indexes made moderate gains over the holiday-shortened week, with the S&P 500 and Dow Jones Industrial Average up 0.6% and 1.5% last week, respectively. Last Tuesday, the S&P 500 reached its 31st all-time high this year. Breadth in U.S. equity markets remains narrow, with S&P 500 returns year-to-date (YTD) largely driven by its top two performing sectors, Technology (+28.4%) and Communication Services (+24.5%). Oil prices climbed for the second straight week, up nearly 5% so far in June after falling 6% in May per the West Texas Intermediate benchmark. In economic data, retail sales disappointed consensus estimates, rising 0.1% in May after falling 0.2% in April per estimate revisions. Consumers continued to grapple with higher mortgage rates in May, evidenced by existing home sales falling for the third consecutive month to a seasonally adjusted annual rate of 4.1 million as the median home sales price rose to $419,300, the highest on record. Building permits and housing starts each declined in May to their lowest levels since June 2020. The Conference Board’s leading economic index fell yet again in May, down 0.5% over the month owing to weaker components such as new orders, consumer sentiment, and building permits.

The FHLB of Pittsburgh Announces Retirement of Winthrop Watson, President and Chief Executive Officer; Board Appoints David Paulson as Successor

The Federal Home Loan Bank of Pittsburgh announced the upcoming retirement of Winthrop Watson as President and Chief Executive Officer (CEO), effective Dec. 31, 2024. Watson has led FHLBank since 2011 after joining as Chief Operating Officer (COO) in 2009. Prior to FHLBank, he spent 25 years at J.P. Morgan. David G. Paulson, currently COO, has been appointed by FHLBank’s Board of Directors (Board) as Mr. Watson’s successor. He will become President and CEO on Dec. 31, 2024.

“We are sincerely grateful for Winthrop’s leadership,” said Brendan J. McGill, Chair of the FHLBank’s Board, and President and CEO of Harleysville Bank. "Winthrop has been a strong advocate for our members as well as our programs to support affordable housing and economic development. He has built a legacy of service, reliability, innovation and trust.”

A Pension Strategy that May Boost Your Income

If you participate in a traditional pension plan (also known as a defined benefit plan), your plan may offer several payout options including "qualified joint and survivor annuity" (QJSA) if you are married. A QJSA is an annuity that pays a dollar amount (usually monthly) for the rest of your life, with at least 50% of that amount continuing to your spouse after your death. However, if your spouse consents in writing, you can waive the QJSA and elect instead to receive a single-life annuity. With a single-life annuity, payments are made over your lifetime but stop upon your death. For example, if you receive just one payment after retirement and then die, the single-life annuity would end, and the plan would make no further payments.

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.