DBA Digest for September 27, 2024

Cyber Security Forum! This Wednesday!

October 2, 2024 - 8:00 a.m. - 1:00 p.m.

Be there for the Cyber Security Forum, this Wednesday, October 2, 8 a.m. to 1 p.m. at the University & Whist Club Wilmington. Our panel of experts will discuss current and emerging cyber threats, artificial intelligence, regulatory requirements, and, more! Registration is $129 for DBA members ($159 for non-members). CPE, CRCM, DE & PA CLE credits applied for! Sponsorship opportunities are available: contact Corinne.Stayton@debankers.com.

Foundations of Delaware Trusts - ALL NEW!

Live and On-Demand!

Trust professionals! Don't miss the three new sessions in the Foundations of Delaware Trusts series! These sessions will be held live via Zoom, and will also be available on-demand for continued viewing. Take advantage of these great training tools to education your entire staff! The sessions are just $199 each for DBA members or order all three for just $499. 3.0 credit hours applied for!

September 27th, 9:00 a.m. - Advanced GST Tax Practices - Instructors: Cynthia D.M. Brown, President, Commonwealth Trust Company; Kimberly Gill McKinnon, Director, Gordon, Fournaris and Mammarella, P.A.

October 2nd, 9:00 a.m. - BSA/AML for Trusts - Instructors: Danielle R. Albrecht, CAMS, CFIRS, AML/BSA Vice President, Glenmede; Michael Bridgeman, CFP, CFIRS, Chief Compliance and Risk Officer at the Trust Company of the South; Mark Gray, Mark Gray Consulting Group.

Now On-Demand! - Transferring Trust Situs: Techniques and Practical Considerations. Instructors: Matthew P. D'Emilio, Managing Member, McCollom D'Emilio Smith Uebler LLC; Kerry Porter, Senior Fiduciary Director, Brown Brothers Harriman Trust Company of Delaware, N.A.

CAFE Fall Accelerator Launch Day: Networking Breakfast with Delaware Bankers Association - October 1, 9:00 - 10:30

​Center for Accelerating Financial Equity (CAFE) is excited to invite DBA members to meet the fintech companies in the Fall 2024 cohort of the CAFE Fintech Accelerator Program. During breakfast, the banking community will meet the companies, learn about innovative technologies, and mingle with the founders.Additionally, the six companies in our cohort will pitch during the event. The founders will benefit from connecting with and learning about the needs of banks and their communities.

​CAFE's cohort of companies have extraordinary financial technology products in the market that help financial institutions to advance financial health & wellness for low- to moderate- income (LMI) and other underserved communities.

Delaware Trust Conference:

Sunday Night Kickoff Reception!

The 2024 Delaware Trust Conference will kick off with a reception Sunday, October 27, 5 to 7 p.m. at the DuPont Environmental Education Center, 1400 Delmarva Lane, Wilmington. Experience the best of Delaware’s wildlife. DEEC features panoramic river and marsh views, and a 10-acre ornamental garden. Tickets to this exclusive reception event are just $150. Platinum and Diamond Sponsors receive two free registrations to the reception with their sponsorships. Space is limited! Register via the link below!

2024 Delaware Trust Conference!

18 CLE Credits Approved!

There's still time to register to this year's premiere wealth management event: The 2024 Delaware Trust Conference! You'll hear the top experts and discover how to maximize the Delaware Trust advantage for your clients! The Delaware Trust Conference is an ideal opportunity to network while obtaining continuing education credit for: Trust Professionals, Portfolio Managers, Financial Advisors, Attorneys, CPAs, CTFAs, Wealth & Asset Management Services Executives, Executive Trust Officers, Investment Officers, Investment Managers, and Trust Department Managers.  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!

Upcoming OnCourse Learning Webinars!

Loan Documentation 101 Part 1: The Basics - October 1st

Part 1 of this 2 part series covers basic loan documentation principles and practices, including loan applications, financial statements, committee memos, and presentations. It also includes lien document perfection, searches, title verification documents, promissory notes, and authorization documentation for all kinds of borrowers.

Audience: Financial institution employees at all experience levels will find this program helpful - it will include ample time for questions and answers.

Dealing with Appraisals: Regulations and Requirements - October 3rd

Because breakdowns in appraisal practices have been partly blamed for the mortgage crisis more than ten years ago, regulators raised their expectations, and lenders' appraisal and evaluation programs must include more elements than ever before. Do you know the requirements? We'll provide in-depth details of the appraisal and valuation process, from both the lender and appraiser side of the game, to provide a thorough understanding of what is required and what you need.

Audience: Real estate lenders, compliance officers, auditors, underwriters, appraisers (in-house or external), closing agents, management, and anyone else involved in the real estate or residential lending process with a need to understand the current state of appraisal regulation and requirements.

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

County Bank Celebrates Compliance Appreciation Day

On Thursday, September 26, County Bank celebrated Compliance Appreciation Day by recognizing Yanina Sgroppo Emerick, who plays a crucial role in ensuring County Bank runs smoothly and ethically every day. Yanina's dedication, attention to detail, and commitment to upholding the highest standards of compliance keeps County Bank on track and their customers protected. Her hard work behind the scenes helps maintain trust and transparency, and keeps County Bank a trusted and reliable partner for their community!

Fulton Bank Launches Deposit Escrow Management Platform

Fulton Bank, N.A., a subsidiary of Fulton Financial Corporation, announced the launch of Fulton Deposit Escrow Management, which allows customers to access their escrow information and tools seamlessly.

This new digital capability is provided in partnership with ZSuite Technologies, a leading digital platform for escrow account and subaccount management. The platform is geared toward clients in the real estate industry, such as landlords and property managers, and municipal and local government organizations. ZEscrow allows for bulk import capability, easy account access, interest configuration and other features that make it a powerful tool for escrow management.

ABA Foundation Elder Fraud Prevention Summit - October 7th

Older adults are a growing population in the United States — and a growing target for scams. Seniors lose billions of dollars annually from elder financial exploitation. Recognizing the challenges facing banks and customers, the ABA Foundation is hosting its inaugural Elder Fraud Prevention Summit, Monday, October 7 at the Crystal Gateway Marriott in Arlington, VA. Space is limited, so sign up to attend and hear from national experts, federal agencies, fellow bankers, academics and others to help you access resources to combat elder financial exploitation. Register today! Questions? Contact ABA Foundation’s Sam Kunjukunju.

Mid-Atlantic Bank Executives Conference –

November 3 & 4

The Mid-Atlantic Bank Executives Conference brings together bankers and industry partners for sessions with nationally recognized speakers providing relevant and timely content geared specifically to bank c-suite and other senior leaders. Sessions include: Economic Update; Keeping Pace with Rapidly Emerging Technologies; Credit Risk; and, More! Follow the link below for the full agenda and registration information.

Bank of America Private Bank Market Minute

The U.S. Federal Reserve (Fed) lowered the fed funds rate target range by 50 basis points (bps) to 4.75%-5.00% last Wednesday, the first cut in over four years. U.S. Equities traded higher on the news with the S&P 500, Nasdaq Composite, Dow Jones Industrial Average up 1.4%, 1.5%, and 1.6% over the week, respectively. The S&P 500 closed above 5,700 last Thursday, the index’s first all-time high since July 16. The Russell 2000 Small-cap benchmark spiked 2% on Thursday alone. Yields finished last week slightly higher with the yield on the 10-year U.S. Treasury closing on Friday at 3.74%. Gold prices reached yet another milestone, closing above $2,600 per troy ounce last Friday. U.S. economic news was dominated by the rate decision with Chairman Powell highlighting a still-strong economy, cooling inflation data, and greater attention toward the employment backdrop. In tandem, the Fed’s updated quarterly Summary of Economic Projections revealed that the median committee member now expects the fed funds rate to stand at 4.4% at the end of 2024, down from 5.1% in prior projections, before falling another 100 bps to 3.4% in 2025.

Santora CPA Group Announces Appointment of a New Principal

Santora CPA Group, a Newark-based Certified Public Accounting and Consulting firm, is pleased to announce that Keith A. Delaney, CPA, CMA, MBA, CVA has become a Principal in the firm. Keith is a 2011 graduate of the University of Delaware with Bachelor of Science Degrees in Accounting and Finance. 

He joined SCG in January 2015. In July 2018, Keith earned the Certified Valuation Analyst (CVA) designation from the National Association of Certified Valuators and Analysts.  With a wealth of experience in auditing, accounting, tax, and business advisory services, Keith brings a robust skill set to SCG.  

DE Dept. of Labor - Paid Leave Webinar - October 17

On Thursday, October 17, the Delaware Department of Labor’s Division of Paid Leave will host its second virtual webinar of 2024, inviting all Delaware employers to join from noon to 1:30 p.m. Chris Counihan, program director, will dive deeper into program updates, upcoming deadlines, and the employer’s role in implementing and facilitating the program. 

Important dates to remember for 2025: 

• On January 1, 2025, employees will notice payroll deductions if their employer requires them to contribute to the cost of Delaware Paid Leave.  
• April 30, 2025, is the first due date for quarterly contributions to Delaware Paid Leave. Employers must begin submitting wage and hour reports on a quarterly basis.