FASB Reforms to CECL Standard Supporting Community Bank Accounting Methods
The Financial Accounting Standards Board recently made important, ICBSD supported revisions to its proposed accounting update.
The revised Current Expected Credit Loss (CECL) proposal is more flexible and scalable for community banks, which will allow them to continue using their personal understanding of their local markets, instead of complex modeling systems to determine their loan-loss reserves. By allowing community banks to evaluate and adjust their loan-loss amounts using qualitative factors, historical losses, and current systems (such as spreadsheets and narratives), FASB has made important changes to its proposed accounting standard.
"The ICBSD and our member community banks are very pleased to see changes being made," said Greg D. McCurry, ICBSD President & CEO. "These changes will significantly reduce the burden on community banks in South Dakota and across our nation."
"FASB has clearly listened to the concerns of ICBA and the nation's community banks," said Timothy Zimmerman, ICBA Vice Chairman. "The revised standard includes important changes that address concerns with the irreversible damage the CECL model would have had on community bank lending to local consumers."
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CELEBRATE COMMUNITY BANKING MONTH 2016! 
April is Community Banking Month, and we are excited to celebrate the nation's more than 6,000 community banks, hundreds of thousands of community bankers and the vital role they have in strengthening local communities.
Community bankers, state and regional partners, along with consumers, entrepreneurs, farmers and thought leaders can participate in the festivities by showing support for community banks across the nation.
Check out a list of ways to participate and get involved. Share your celebrations on social media with the Official Hashtag: #BankLocally.
This is your month, share your story and reach out to your communities.
- Customize a news release and send it to your local media to share the positive story of community banks, while telling your bank's unique story.
- Send an op-ed to local media to educate your community about the importance of banking locally and how your bank is unique in serving the needs of your community.
- Share ICBA's "Community Banks Across America" infographic on your website and on your social media channels.
- Take time to tweet and share on your social media channels: here are some ideas to get started.
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SAVE THE DATE
Mark your calendars for the FDIC Directors' College to be held May 2, 2017, in Sioux Falls at the Sioux Falls Convention Center.
The College will be sponsored by Independent Community Bankers of South Dakota and the South Dakota Bankers Association.
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ICBSD members can take advantage of the following price breaks!
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| Exclusive Offers |
Coupon Code |
| Save 35% off OptiPlex/Latitude |
SAVE35% |
| Save an extra 10% off select XPS & Inspiron PCs |
SAVE10%PC |
| Save 40% off select PowerEdge Servers $1,299 & up |
SAVE40%SERVERS |
| Save 40% off Dell Precision Workstations |
SAVE40%WKS |
| Save an extra 5% off select Dell electronics & accessories |
STACK5% |
More Information: Place your order through the ICBA/Dell page to receive these discounts!
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BankWest is growing 
BankWest is growing. We're looking for people to join our team. If you have a passion for customer service and a sincere interest in helping customers succeed, visit the careers page on our website to learn more about the following positions.
https://www.bankwest-sd.com/careers.htm
eBanker - located in Rapid City or Pierre
Teller - located in Pierre
Credit Analyst - located in Pierre
Financial Services Specialist - located in Pierre
Mortgage Processor - located in Pierre
Platform Processor - located in Pierre
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Customer Service Representative/Teller
Sioux Falls, SD - Provide prompt, efficient, and friendly service
to customers, involving receipt and disbursement of cash, and to
recognize customers' needs and make suggestions approp
riate to the Bank's services. Follow the established policies and procedures for this area in accordance with the Bank and the supervisor's direction.
Apply Here!
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NIST Cybersecurity seminar is a big opportunity for businesses
Hosted by SDN Communications, South Dakota Telecomuntaions Assocations and Dakota State
Some industries used to shoulder more risk than others as potential victims of cyberattacks. That's no longer the case. Because of the linked nature of commercial enterprises today, nearly all businesses and organizations must be aware of cyber threats and protect themselves.
"There used to be industries that could kind of ignore it. If you look at the attacks now, they're hitting virtually every industry." says John Pauli, who teacher cyber security courses at
Dakota State University.
"We're all interconnected now."
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Complimentary Webinar: Defending Your Institution from Spear Phishing Attacks
As cyber criminals become more and more sophisticated, gone are the days of traditional security protecting your organization from cyber attacks.
This webinar will discuss a three-pronged strategy to defend your financial institution from spear phishing attacks, including malicious emails, pre-text phone calls, or hacked websites with malicious software. It will also provide advice on the appropriate steps to take if you become a victim of phishing.
Thursday, April 21st
2 - 3 PM Central Time
To register, click here by April 20th.
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South Dakota
Golf Classic
Start the morning off with breakfast and a host of educational speakers at Callaway's Event Center, next door to Prairie Green. After the morning sessions, attendees will be treated to lunch and an 18 hole golf scramble. Following the scramble, there will be hors d' oeuvres, refreshments, and prizes awarded back at Callaway's.
The cost to attend this fun and educational outing is only
$35
per person!
View Agenda and Featured Speakers
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ICBA Securities, the institutional broker/dealer of the ICBA, will present a webinar on April 12 exclusively for the state associations which endorse ICBA Securities, as well as other community banks. This is the second in the 2016 webinar series.
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Greg Roll, CFA
Senior Vice President, Vining Sparks |
Although we have achieved lift-off for the FOMC's rate hike, it remains totally unclear exactly how aggressively the Committee will continue to remove the monetary accommodation. The bond market has responded by causing the interest rate curve to flatten, and further flattening is being widely debated by market forecasters, analysts, and investors. This webinar will discuss some strategies being employed by community banks to create improved results from both net income and risk aversion standpoints, while allowing institutions to be well-positioned for the near future.
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Holding Your Data Ransom
What is Ransomware?
It's a day that starts just like every other day. You
walk into the office, grab some coffee, and power up your computer
. Only instead of being able to access your data, you see an image demanding you to pay $10,000 in the next 48 hours for the return of your data, or the price goes up. Today, it seems, won't be just like every other day; you've been victimized by ransomware.
Ransomware is one of the fastest growing methods of attack currently being deployed by hackers. From large organizations, like banks and hospitals, to medium sized retailers, all the way down to individual devices, such as personal cell phones, everyone is at risk.
Read More...
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| Community Bankers Webinar Network Courses |
Printable 2016 Webinar Schedule
April 6 - Completing the SAR Line-by-Line
April 7 - Audit Compliance Series: Auditing Basel III & the New Capital Planning Guidelines
April 12 - The Top 10 Credit Risk Considerations in Agricultural Lending
April 13 - ACH Rules Update 2016
April 14 - Your Depositor Has Died: Actions to Take, Mistakes to Avoid
April 19 - New Federal Regulations Targeting Student Accounts, Including Debit & Prepaid Cards: Effective July 1, 2016
April 20 - HR Series: Managing Absenteeism & Leaves of Absence
April 21 - Effective Management of Credit Report Disputes
April 26 - Call Report Series: Examining Bank Assets, Liabilities & Income in Call Report Preparation
April 27 - Examining Complex TRID Issues, Part 1: Application Through Loan Estimate & Revised Loan Estimate
April 28 - Regulator Expectations for Risk Assessment: Policies, Procedures & Steps in Obtaining Board Approval
May 3 - Loan Participation Due Diligence: Practices, Documentation, Servicing & Risks
May 5 - Conducting the Annual Physical Security Review
May 10 - Quarterly Emerging Leader Series: Effective Branch Administration Monitoring
May 11 - Fee Income Strategies 2016: Challenges, Issues & a Look Ahead
May 12 - Regulator Issues for the Credit Analyst
May 13 - Line-by-Line Review of New Bankruptcy Forms, Including Major Changes Effective December 2015 |
| SBS Institute Certifications |
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Fed Will Likely Hike Rates in June in Wake of Jobs Report, Economists Say
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Fresh data from the Labor Department Friday has given the Federal Reserve the green light to raise interest rates in June.
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Pew's Call for Overdraft Reform Is Off-Base
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When it comes to determining the need for more regulations on overdrafts, there seems to be an ideological divide, with the consumer advocates on one side and some banking industry organizations on the other side.
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EMV: Not Ready for Prime Time?
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Dave Matthews, executive vice president and general counsel of the National Restaurant Association, which represents more than 500,000 restaurants throughout the country, says the group questions whether EMV is really ready for "prime time."
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Loose Lips Sink Customers--and Bankers
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In this age of information security, we are regularly confounded by a combination of our own carelessness and an occasional obsession to share a tidbit of information with one another.
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Three Ways to Make Your Bank Customer-Centric
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In today's digital economy, banking, like other industries, faces "disruptive" expectations from customers.
*Note: You can access this article by creating your free account.
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Bankers: How Should it Be?
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In banking, do we ask ourselves how it should be?
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Bank Holding Company Act of 1956
The Federal Reserve's supervision of banks expanded when President Dwight Eisenhower signed the Bank Holding Act in May 1956. It expanded again when the act was amended in 1970. Learn more here.
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Register Now for the Washington Policy Conference
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2016 Series - 6 for the price of 5
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What's happening at your bank? Events? Promotions? New hires? Retirements? Awards? Community projects? Charitable activities?
Contact Summer at [email protected]. If you don't have time to write an article, send a description of what happened, and we'll put it together for you. |
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