DBA Digest for October 7, 2022

ONE WEEK TO GO! Registrations Still Open!

2022 Delaware Trust Conference - In-Person, Live Stream, and On-Demand!

The 2022 Delaware Trust Conference is almost here: bigger, better, and super convenient! This year’s conference, the 17th annual, 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 link below to view the agenda and register.


DE Trust Conference Webpage

ABA Foundation Accepting Donations to Support Florida Hurricane Relief Efforts

At the request of the Florida Bankers Association, the ABA Foundation is soliciting donations from across the country to help with relief efforts in the wake of the devastation caused by Hurricane Ian.

the ABA Foundation and the Florida Bankers Association are asking members of the banking industry to step up and help as bankers always do in times of need. One hundred percent of the funds raised through ABA Foundation’s Disaster Relief Program will go to the Volunteer Florida Foundation’s “Florida Disaster Fund” which will distribute donations to service organizations aiding with disaster response and recovery in the aftermath of Hurricane Ian. While we encourage members of the banking industry to contribute to this effort, we invite anyone to donate here. Donations will be accepted until November 9, 2022, and all donations are tax deductible to the fullest extent of the law.


Fulton Bank Welcomes Kristen Welch as Senior Vice President and Director Of Healthcare Banking Group

Fulton Bank, a subsidiary of Fulton Financial Corporation, announced the addition of Kristen Welch as the new Senior Vice President and Director of its Healthcare Banking Group. In her role, she will oversee banking activities for profit and nonprofit healthcare organizations with over $20MM in revenues in the New Jersey, Delaware, Pennsylvania, Maryland, Washington DC and Virginia markets.


Kristen brings 18 years of experience to the leadership role working with healthcare providers and payors to evaluate banking solutions including taxable and tax-exempt financing, capital markets, equipment finance, treasury management, revenue cycle management, liquidity solutions, and institutional investments. Prior to joining Fulton, she served as a senior vice president in healthcare for Bank of America and PNC Financial Services.

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Bank of America Private Bank Market Minute

Closing out Q3, last week’s selloff brought the major indexes to their lowest levels of the year. The S&P 500 and Dow Jones Industrial Average (Dow) declined 2.9% for the week while the Nasdaq Composite finished the week down 2.7%. Last Monday, the Dow joined the S&P 500 and NASDAQ in bear market territory as the Dow declined more than 20% from its record high in January. In inflation news, the Federal Reserve’s (Fed) preferred inflation gauge, the core personal consumption expenditures price index (excluding food and energy) rose 4.9% in August from a year earlier, coming in hotter-than expected. Consumer prices in the Eurozone reached an annual rate of 10.0% in September driven by food and energy and up from 9.1% the month prior. Germany reported an even steeper increase with inflation climbing to 10.9% from 8.8% the prior month. European Central Bank (ECB) President Christine Lagarde stated to the European Parliament that the economic outlook “is darkening” and expects business activity to “slow substantially” in the coming months. Home prices as measured by the Case-Shiller Home Price Index fell from June to July after having increased for 41 consecutive months—the first decline since January 2019. This week, watch for the Bureau of Labor Statistics releases of the Job Openings and Labor Turnover Survey (JOLTS) and Friday’s release of the September jobs report.

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“The Energy Transition: The Growth of Renewables and Financing Risks”

Thursday, October 13, 2022, 2:00 p.m. ET

This 75-minute session will include speakers from the Federal Reserve Bank of Dallas' energy team: SungJe Byun, senior economist; Joe Kneip, senior examiner; Kunal Patel, senior business economist; and Michael Plante, senior economist. The session will discuss recent trends in U.S. offshore and onshore wind, as well as utility-scale and residential solar. The session will also summarize lending trends and key risks in renewable energy financing.

Registration is now open at www.askthefed.org. As always, we are interested in your questions. You can email your questions in advance of each session at questions@askthefed.org. We'll take questions during each session as well, but questions received in advance will receive priority.


Join Weiner Benefits Group on Tuesday, October 18th, 2022, at 10 am for a Market Update with Franklin Templeton.

Join Weiner Benefits Group on Tuesday, October 18th, 2022, at 10 am for a Market Update with Franklin Templeton's Eric Kruk, CFP, Vice President, and Senior Advisor Consultant. Limited Spaces Available, Please Register in Advance

Questions? Please Contact Stephanie Clendening at 302-658-0218 or stephanie@weinerbenefitsgroup.com.

Eric Kruk began his career in financial services in 1998 and joined Franklin Templeton in 2020. Prior to joining Franklin Templeton, he spent over 22 years as a financial professional with Legg Mason. As an advisor to financial professionals, Eric provides a valuable perspective in the areas of market insights, practice management, and portfolio construction. He consults with financial professionals to help them deliver better outcomes for their clients and grow their business. Eric has a wealth of industry knowledge and a deep understanding of Franklin Templeton investment solutions including mutual funds, ETFs, separately managed accounts, model portfolios, 529 plans, and insurance products.


Beware of Goblins, Ghouls, and Phishing Scams - Cybersecurity Awareness Month

For nearly 20 years, October has served as Cybersecurity Awareness Month. To highlight the importance of being cyber ready, we will release weekly tricks and treats as part of this four-part series to make your business more cyber savvy.

In our first installment, “Beware of Goblins, Ghouls, and Phishing Scams,” businesses can use the template email below to remind employees to stay alert as cybercriminals take advantage of the holidays, beginning with the spooky season. The template provides:

  1. An overview of “phishing.”
  2. Common scams during the holiday season.
  3. Tips on how to spot a phishing scam.
  4. Instructions on what to do if an employee receives a phishing email.

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