Pub. 3 2024 Issue 3

As we’re getting into the warmer months, it’s reassuring that baseball season is well underway. Your correspondent confesses a deep and abiding passion for the sport. While I’ve been only partially successful in getting my wife engaged in watching live baseball, she has gamely accompanied me to over two dozen major league stadiums. Nothing says “springtime” to me quite like the crack of a wooden bat on horsehide and the roar of a crowd. Might I add a beer and a hot dog?

After years of anticipation and preparation, the Financial Accounting Standards Board’s (FASB’s) credit loss accounting standard, CECL, is now effective for all financial institutions. Larger institutions that file reports with the Securities and Exchange Commission (SEC) adopted the standard for fiscal years and interim periods beginning after Dec. 15, 2019. All other financial institutions adopted the standard for fiscal years beginning after Dec. 15, 2022. Although adoption is technically behind us, institutions can’t stop thinking about CECL now. Working through the adoption of the standard with our clients, we’ve identified several common

Community banks in search of deposits might see raising rates as their best option to gain customers, but that’s an expensive proposition, particularly as the Fed contemplates lowering rates. Luckily, your bank can choose from a multitude of less‑expensive strategies for attracting deposits. Consider one of these alternative strategies before defaulting to interest rate increases to entice new business:

As the process of protecting systems, networks and endpoints from attack, cybersecurity is critical to any organization. Since banks must protect customer data, keeping up with evolving cyber threats and concerns is vital. In its annual “Banking Priorities” survey, CSI asked bankers across the country about their views on top cybersecurity challenges. This article explores how bankers view the changing cybersecurity landscape.

When it comes to serving small businesses, community banks just get it. We understand the day-to-day situation, and we also know local businesses shouldn’t have to try to fit into a mold made by much larger institutions. If we attempt to apply a single product to all small business clients, the shoe won’t fit. So, we customize, developing options geared to their unique needs.