DBA Digest for September 23, 2022

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

The Chase Center on the Riverfront is filling up, but there's still room for you! The 2022 Delaware Trust Conference is 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.

Sponsorships and Exhibition Space still available!


DE Trust Conference Webpage

 Last Call to Register for the 2022 J.P. Morgan Corporate Challenge Philadelphia

This is the last call to register for the J.P. Morgan Corporate Challenge Philadelphia! Company Team and Participant registration will now close on Friday, September 23, 2022.   If you have already registered your Company Team, share your exclusive Team Registration link with your colleagues, along with the Participant Registration infographic below, so they can join your Company Team.


Date: October 6, 2022

Time: 6:45 p.m.

Location: Philadelphia Museum of Art

Registration Fee: $59 per person

If you have not yet registered your Company Team, follow the steps below to grab your team’s spot while you still can!

Our Customer Service Team is here to support you with any registration questions. Please reach out to them at philadelphia@corpchallenge.jpmorgan.com or 302.276.8184


Fulton Financial Corporation Declares Quarterly Common and Preferred Dividends

The Board of Directors of Fulton Financial Corporation has declared a quarterly cash dividend of fifteen cents per share on its common stock, payable on October 17, 2022, to shareholders of record as of October 3, 2022.

The Board of Directors also 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 October 17, 2022, to holders of record of the preferred stock as of October 2, 2022, for the period from and including July 15, 2022, to but excluding, October 15, 2022.

Full Story


New York Fed Web Series on Culture: Culture and the New Workplace - October 4th

On Tuesday, October 4, the Federal Reserve Bank of New York will host the next installment in its webinar series on culture. This virtual event, “Culture and the New Workplace,” is part of the New York Fed's initiative to spur reform of culture and conduct in the financial services industry and encourage the industry to raise standards. This panel will consider a range of questions about the evolution of the workplace and its influence on organizational culture.

Panelists will explore whether new norms or identities have developed among the hybrid workforce; where our relationships with technology are headed and how this may impact behavior; how physical space influences behavior; how we respond to monitoring and surveillance; and how perceptions of peer preferences can influence behavior in the new workplace.


New- Ask the Fed®:  Residential Real Estate- Tuesday, October 11, 2022, at 2:00 p.m. ET

Since the beginning of the year, home ownership affordability has declined to historically low levels across the nation as both home prices and interest rates have been on the rise. As a result, housing demand in recent months has weakened and there is a growing uncertainty about what lies ahead.

On October 11, 2022, Domonic Purviance from the Federal Reserve Bank of Atlanta will host a webinar that addresses current housing market conditions and future risks and expectations over the next year.

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.


Jenifer Jurden is a Cartoonist from Wilmington who has graciously provided her Planet Jurdy cartoons for the DBA Digest. Jurdy® is her other-worldly "Hero of Happyness" whose cartoons bring levity to humans worldwide.

Troutman Pepper Insights: AOCI Losses: What the Big Hit to Banks’ Bond Portfolios Means Going Forward

Banks with available-for-sale (AFS) securities have seen significant unrealized losses on their bond portfolios as interest rates have risen. While not an immediate cause for regulatory concern, the change in bond portfolios has shaken up investors and the bank M&A market.

Generally accepted accounting principles (GAAP) require unrealized losses (or unrealized gain in a different environment) on AFS securities to be reflected on the balance sheet as accumulated other comprehensive income (AOCI). The drastic change in the interest rate environment in 2022 has created the perfect storm for AOCI losses to balloon: Interest rate increases, coupled with soft loan demand and desire for yields, has led to banks holding large investment portfolios comprised of securities with longer maturities, which in turn means significant, albeit unrealized, losses. One real impact of the AOCI issue is with M&A participants where tangible book value (which, according to GAAP, reflects these unrealized losses) is a significant determinant of pricing and overall deal attractiveness. Bank M&A activity in early 2022 was significantly impacted by buyers and sellers needing to understand the impacts on their balance sheets, and likely, more than one deal fell through due to these unexpected (unrealized) losses.

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