DBA Digest for May 10, 2024

Delaware Bankers Association 129th Annual Meeting

Outgoing Chair, Tarrie Miller, President and COO County Bank, passes the gavel to incoming Chair Matthew Parks, Director, Investments, CRA & Retail Banking, Discover Bank, at the 129th DBA Annual Meeting.

Rene Perez, Financial Crimes Consultant & Director of Financial Crimes Solution Sales with Jack Henrysm, delivers the keynote address.

Matthew Parks, Director, Investments, CRA & Retail Banking, Discover Bank, was elected the Chair of the Delaware Bankers Association (DBA) on May 9th at the DBA’s 129th Annual Meeting in Wilmington. The DBA also elected and installed Caroline Dickerson, Chief Executive Officer & Treasurer, Commonwealth Trust Company, to the position of Chair-Elect. 

 

Other Members of the DBA Board of Directors are Past Chair: Tarrie Miller, President and COO County Bank; Directors at Large: Diana Clift, Head of Legal, Barclays; Nicolas Jafarieh, EVP and Chief Legal, Government Affairs & Communication Officer, Sallie Mae. Directors: Isabel Araújo, Sr. Manager, Trust Services Consulting, Charles Schwab Trust Company of Delaware; Michael Dameron, SVP, Head of State and Local Government Relations, TD Bank; Christine Davis, EVP, Chief Risk Officer, WSFS Bank; Jason Gaughan, Consumer Card Product Executive, Bank of America; Jennifer Golek, Head of Bank Operations, Managing Vice President, Capital One; George Kern, Regional Director, Besssemer Trust Company of Delaware; William LaFond, Wealth Area Executive and Head Of Family Wealth, Wilmington Trust; Don Mell, Executive Director, Site Lead Delaware Market, JPMorgan Chase; Greg Miraglia, SVP, Delaware Market Executive and Wealth Director, PNC Private Bank; Joel Schiller, SVP CRO: Compliance & CRA Officer, Artisans' Bank; Katie Wilkinson, SVP & Delaware Commercial Market Executive, Fulton Bank.


Thank you to our sponsors for their generous support...

Platinum Sponsor: Federal Home Loan Bank of Pittsburgh. Gold Sponsor: Young Conaway Stargatt & Taylor. Silver Sponsors: Delaware Community Foundation; Richards, Layton & Finger, P.A.; S&P Global; Visa. Bronze Sponsors: McCollom D’Emilio Smith Uebler LLC; Pinion, Santora CPA Group. Wine at Dinner Sponsor: Belfint, Lyons & Shuman, P.A. Reception Sponsors: Bayard, P.A.; Mayer Brown LLP; Potter Anderson & Corroon LLP; RKL; Troutman Pepper Hamilton Sanders LLP; Weiner Benefits Group. Bank Sponsors: Bank of America; Barclays; Capital One; County Bank; Discover Bank; First Citizens Community Bank; JPMorgan Chase & Company; M&T Bank; PNC Bank; Sallie Mae; US Trust Company of Delaware; Wilmington Trust; WSFS Bank.

Breaking Bad Habits - May 14th

Bad habits—everyone has them. But unlike biting fingernails or a leaving cap off the toothpaste, bad writing and communication habits can be especially problematic in the business world. Why? Because those writing, speaking, and interpersonal communication habits are seen and heard by so many others, often daily. The result is that aware of it or not, everyone develops a communication reputation. Join Linda Comerford, Comerford Consulting for this valuable on-line course via Zoom, May 14, 2024: 9:00 a.m. to 12:30 p.m. Just $99 per person for DBA members/$149 per person for non-members.


Register

Delaware Bankers Partners with OnCourse Learning

The DBA has partnered with OnCourse Learning. At the heart of this partnership lies a shared vision to elevate the standards of banking education and to forge a future where banking professionals are not just prepared but are ahead of the curve, equipped with the knowledge and skills required to navigate the complexities of today’s financial landscape. Delaware banking professionals gain access to an unprecedented suite of educational resources:


Over 450 Live Webinars - Spanning a broad spectrum of topics, these webinars are designed to cater to the diverse educational needs of bankers, from regulatory compliance to cutting-edge fintech trends.


Immersive Learning Experiences - OnCourse Learning’s dedication to creating engaging, practical learning experiences aligns perfectly with the practical needs of today’s banking professionals. It’s not just about learning; it’s about applying what you learn in real-world scenarios.


A Step Ahead - This partnership is more than an education platform; it’s a commitment to fostering innovation in banking education. Together, we are setting new benchmarks for excellence and transforming the way banking education is perceived and delivered.


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

Learn More

Support House Bill 203 for Comprehensive Financial Education in Delaware!

House Bill 203, championed by Rep. Jeff Hilovsky, R-Millsboro, is a vital step towards bridging the financial education gap in Delaware. This legislation mandates that high school students, starting with those entering 9th Grade in the 2025-2026 academic year, complete a half-credit course in financial literacy for graduation.


Financial illiteracy can lead to unemployment, stress, and economic hardship. By ensuring every Delaware student has equal and guaranteed access to a personal finance course in high school, we can empower them to make informed financial decisions and secure their futures. Visit the link below for more information on the Bill and how you can support it.

House Bill 203

Bank of America Private Bank Market Minute

April was a choppy month for major U.S. Indexes, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite down 4.2%, 5.0%, and 4.4% respectively. Last week marked a second straight week of clawing back those losses. Rising 1.3% last Friday alone, the S&P 500 ended last week up 0.6% while the Dow and Nasdaq rose 1.1% and 1.4%. The yield on the 10-year U.S. Treasury ended the week around 4.50%, down from 4.67% at the close of the previous week. Oil prices fell nearly 7% over the week, finishing near $78 per barrel according to the West Texas Intermediate benchmark. Friday’s employment report revealed slower-than-expected job growth in April, with 175,000 jobs added compared to the 240,000 expected. The unemployment ticked up from 3.8% to 3.9%. Wages rose, as measured by average hourly earnings, at a 3.9% annual rate versus 4.1% in March. Meanwhile, the employment cost index came in hotter, up 1.2% in Q1 2024 versus 0.9% anticipated. Job openings fell to 8.5 million in March according to the Job Openings and Labor Turnover Survey (JOLTS), the lowest level since February 2021. The quits rate edged lower to 2.1%. Citing inflation and labor market concerns, the Conference Board’s measure of consumer confidence fell to 97.0 in March, its lowest level since July 2022. Unsurprisingly, the Federal Open Market Committee (FOMC) held interest rates steady at its May meeting, where the committee acknowledged a recent “lack of further progress” toward its 2% inflation target, as fed fund futures increased the probability for a September cut.

Full Story

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.

Register

 Whisman Giordano & Associates Wins

Thrive Award from Better Business Bureau

Whisman Giordano & Associates, LLC, is honored to announce that they have won the 2024 Thrive Award for Community Impact from the Better Business Bureau Delaware. The Thrive Award for Community Impact recognizes companies that have made a deliberate effort to improve the communities they serve.


Now in its 51st year, WGA has long provided professional services to various entities, including closely-held businesses, contractors, and numerous non-profit organizations. The firm has shown its support by sponsoring and participating in many community events. In 2023, to celebrate the firm's 50th Anniversary, WGA chose to thank the community through its 50 Acts of Kindness initiative. The goal was to complete the 50 Acts of Kindness by the year's close. The WGA team exceeded that number by completing 65 Acts.

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Greg Koseluk at greg.koseluk@debankers.com