September | 2021
news & updates
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News You Can Use from VACB |
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From the President's Desk
Two quick points. Before our attention turned to “all convention, all the time” this month, I had the chance to spend quality time with a number of our Northern Virginia bankers. It’s great to get out and see people, and the necessary precautions are tolerable. And thank you to all of those who have contacted the Virginia delegation in Congress to register your opposition to the new IRS reporting proposal. Thanks to ICBA, more than 30,000 bankers and customers have sent more than 100,000 messages to the Hill. Your continued assistance in this difficult battle is greatly appreciated.
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Celebration of Life for Pat Satterfield
Pat Satterfield's family is holding a celebration of her life on Saturday, September 11 at 2:00 pm at Trinity United Methodist Church located at 903 Forest Avenue, Richmond, VA 23229. For those too far away, the service will be live-streamed and there will be a link on the church's website to access the service. You can find the link to the church's website here: Trinity United Methodist Church.
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Who’s the VACB Community Banker of the Year? Who’s the VACB 2021 Rising Star?
Nominations remain open, send us your candidates today!
The Community Banker of the Year and the 2021 Rising Star awards recognize the exceptional work that happens every day in our local communities through the individual employees of VACB member community banks.
Community Banker of the Year nominees are senior-level candidates within the banking industry who have demonstrated leadership, community involvement, and industry advocacy, at a level deserving recognition.
Nominees for the VACB Rising Star are mid-level candidates under the age of 35 from within the banking industry who have demonstrated leadership, community involvement, and engagement in innovative programs or initiatives.
To make a nomination or learn more, click the links below.
NOTE: All nominations are due on September 15.
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ACTION NEEDED! - FHLBank Atlanta 2021 Election of Directors
Federal Home Loan Bank of Atlanta (Bank) is conducting an election to fill two member directorships and one public interest independent directorship on its board of directors. An email inviting members to cast their ballots was delivered on Monday, August 23, 2021. Eligible institutions in Alabama and the District of Columbia will vote to fill the member directorship in their respective state, and eligible institutions across the Bank’s footprint will vote to fill the public interest independent directorship.
All elected directors will serve four-year terms that begin on January 1, 2022.
The FHLBank Atlanta board of directors has nominated the following individual for the public interest independent directorship:
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Brian McLaughlin, President, Enterprise Community Development, Inc., Baltimore, Maryland
Your institution’s vote is important and the Bank encourages you to participate in the election. An independent director nominee must receive at least 20 percent of the votes eligible to be cast to be elected.
The deadline for the Bank to receive completed ballots is 5:00 p.m. EDT, Wednesday, September 22, 2021.
If you have any questions about the 2021 director elections, please contact Tina Carew, Deputy General Counsel, at 404.888.8549 or [email protected].
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QwickAnalytics Quarterly State Performance Trends Report Now Available
Just a reminder that Virginia’s QwickAnalytics Quarterly State Performance Trends Report has been updated for Q2.
Click the logo to access QwickAnalytics Quarterly State Performance Trends to see what has changed in Virginia and the nation since the last report was created by QwickAnalytics. All analysis is based on publicly available performance data using a proprietary index of “true” community banks provided by QwickAnalytics®. Contact [email protected] for more information or to request a demo of QwickAnalytics, including its CECLSolver™ tool. Attend and learn about simpler ways to manage your bank by the numbers!
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Join VACB & Jim Rechel for our Physical Security Program on September 21
In-Person at VACB's Training Facility
We Watched… We Studied...
The Rechel Group has been studying the impact of the events over the last year (an evolution that began much earlier) and has developed an innovative new seminar to assist bankers in navigating through the rapids of the changing world of bank security.
We Reengineered...
In conjunction with the Rechel Group, Inc., which has worked with community leaders, law enforcement, and bankers after rioting related to the death of an armed suspect, and with strategic decisions in response to active shooters, we have developed a program that provides you with information to tackle the current environment.
Security Program Highlights...
- Physical Security Restructured: “Deter, Detect, Delay and Respond”
- Security Impact Analysis – (SIA)
- Security Practices in Detail
- Designing a Multi-Layered Security Program
- Understanding and Developing Mitigation Timelines
- Addressing the Current Perils and Future Adaptations
- (Robbery vs Active Shooters and Threats)
- Physical Security and Information Protection
- Understanding “Zero Trust” in Physical Security
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Lending Program for Newer Lenders!
Fundamentals of Consumer Lending,
Small Business Lending, and
Small Residential Investment Lending
September 13 & 14 | Offered via the Zoom Platform
WORKSHOP TOPICS:
- Basics of Credit Products and Product Knowledge
- Loan Structuring
- Credit Analysis and 5 C’s of Lending
- Conducting the Loan Interview
- Calculating Debt‐to‐Income, Debt Service Coverage, and Loan to Value Ratios
- Loan Documentation and Compliance Overview
- Loan Servicing and Monitoring
- Exceptional Customer Service and Growing the Bank
ATTENDEES WILL REAP THE FOLLOWING BENEFITS:
- Gain in‐depth knowledge of the basics of credit products and product knowledge
- Use real-life scenarios to calculate debt to income and loan to value ratios
- Learn the five C’s of lending and credit analysis
- Experience the “hands-on” process in a learning environment and
- Network with peers for shared experience
TARGET AUDIENCE:
Training is targeted to new Consumer Lenders (less than one year experience) who may also occasionally make small business and small investment real estate loans. Bankers interested in moving into a lending role will also benefit from this training.
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FFIEC Guidance Emphasizes the Key Role of Risk Assessments in Supporting Strong Financial Institution Authentication and Access Controls
As our colleagues from the Consumer Financial Services Group reported on August 11, the Federal Financial Institutions Examination Council (FFIEC) issued guidance titled “Authentication and Access to Financial Institution Services and Systems.” The guidance updates and replaces prior FFIEC guidance, and provides financial institutions with examples of effective risk management principles and practices for access and authentication. The guidance underscores the need for financial institutions to extend access and authentication considerations beyond consumer and business customers to include employees, particularly security administrators and senior management, and third parties, such as cloud service providers and other vendors.
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Thank You, Convention Sponsors! (as of 9/8/2021)
We are delighted by the enthusiasm of our 2021 convention sponsors. Many thanks to these VACB associate members.
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VACB | www.vacb.org | 804.673.8250 |
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