Members, out of an abundance of caution WVBankers staff continues to work remotely. Please email us directly should you need anything. Thank you!
Economic Impact Payments

The Treasury Department and the IRS began issuing direct deposit  economic impact payments over the weekend with an effective date of Wednesday, April 15.  ABA has been working with the US Treasury and IRS to maximize the use of electronic disbursement methods when issuing payments rather than issuing paper checks - urging paper checks would slow the speed at which economic assistance could be provided, and may also force those without a bank account or with limited access to banking services to turn to high-fee check cashers or other lenders to access money, thereby potentially resulting in more frequent incidences of fraud or other financial crimes. 

New resources for banks have been published to help educate customers about their economic impact payments. These resources include an ABA series of commonly asked questions-which will be continually updated with the latest information from the Treasury Department-as well as consumer tips for avoiding fraud scams related to the economic impact payments.

Working with Borrowers Financially Stressed by COVID-19: Critical Issues for Commercial Lenders Webinar
Presented by  Jackson Kelly PLLC and Arnett Carbis Toothman LLP
First Session: Tuesday, April 14 (2:00pm)

FREE series of four 50-minute webinars that will cover:
·   Building your debt restructuring and workout process.
·   Managing risks of workouts including lender liability and bankruptcy.
·   Loan modifications under ASC 310-40 and COVID-19 relief measures.
·   Examiner expectations for loan workouts related to COVID-19 and beyond.  
 
This series is designed to assist decision makers involved in evaluating, underwriting, negotiating, reporting, monitoring, documenting, and managing distressed credits. For more information and registration details, click here.
WBankers Future Leaders Council Spotlight

The West Virginia Bankers Association would like to congratulate Gabby Newcomer (FNB, Inc.) and Erika Lee (Poca Valley Bank) on becoming the newest members of the Future Leaders Council. WVBankers Emerging and Future Leaders are integral voices in making sure our industry continues to grow and move-forward.  If you are interested in becoming an Emerging Leader or would like to learn more, click here.  

Gabby Newcomer is the Residential Lending Manager for FNB Bank, Inc. in Romney, WV. She manages the staff and day-to-day operations of the bank's Mortgage Department. Gabby has worked in and been involved in the banking industry for 12 years. She and her family reside on a farm in Burlington, WV.


Erika Lee  is the Treasury Management Officer at Poca Valley Bank. Before beginning her role as TMO, Erika worked as a Commercial Credit Analyst for four years. Erika has an accounting degree from West Virginia University. Prior to coming to Poca Valley Bank, she worked in public accounting. 


PROFESSIONAL DEVELOPMENT  UPDATE

 
Credit Management Conference 
May 5, 2020 (Postponed) - Reschedu led: October 7, 2020 (Register)
Stonewall Resort

Bank Security School
May 7, 2020 (Postponed) - Rescheduled: October 5, 2020 (Register)
Stonewall Resort

Financial & Estate Planning Conference
May 14, 2020 (CANCELED)

West Virginia School of Banking: Years 1 - 3
2020 Session (CANCELED)
May 17 - 22, 2020 

We apologize for any inconvenience. Once we have an update on new dates and more information, we will let you know.  
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Attention Members!!!
To receive your member rate, please make sure to use the WVBankers Member Promo Code: "wvbankers"

WVBankers Endorsed Partners & Associate Members: Tools, Webinars & Resources
Deluxe Corporation as source for PPE and Covid-19 supplies
Segra Offers Businesses Free Premium Collaboration Service During COVID-19 Crisis: Free 90-Day Service Supports Businesses Facing Remote Workforce Challenges
WVBANKERS 127th ANNUAL CONVENTION
The Greenbrier Resort, White Sulphur Springs
July 26 - 28, 2020

Currently, the WVBankers Annual Convention will be held as scheduled. Should we need to cancel at a later date, all collected registration fees will be refunded without penalty. However, if we continue to hold the convention and an attendee chooses to cancel on their own, normal cancellation fees will apply.

General Session speakers include ABA President/ CEO Rob Nichols; Jack Shaw, Innovation and Change Management Strategist; and Ron Insana, CNBC Senior Analyst, Financial Journalist. 

Monday and Tuesday morning concurrent breakout sessions will feature presentations from BKD, LLP, Bowles Rice, Nelson Mullins Riley & Scarborough, and Dixon Hughes Goodman, LLP.
 
Visit our website for more information regarding the Convention Agenda and Registration.
Also, we extend our sincere appreciation to the following companies for their early sponsorship commitments:

Platinum Sponsors: 
Investors Title Insurance/
WV Bankers Title

Gold Sponsors:
Arnett Carbis Toothman
The Baker Group
FHLBank Pittsburgh
Silver Sponsor:
Bowles Rice
FHN Financial
Bronze Level Sponsors:
CenterState Bank of Florida
Community Banker's Bank
Friend of Convention:
Bankers Bank of Kentucky
Pacific Coast Bankers Bank

ABA Seeks Info from Banks on Coronavirus Response

As the coronavirus pandemic continues to spread in the United States, with effects both on individuals' health and the U.S. economy,   ABA  is compiling a list of actions individual banks are taking to support their retail and business clients, protect their employees and support the economy. The running list will help   ABA  educate both the public and policymakers about how banks are helping customers affected by the crisis. 

Banks looking to share details on their initiatives can email information to   [email protected]   or complete this survey. The list will be updated as more information is received from banks across the country.
Attention Members:  Nationwide our hospitals are suffering from a shortage of Personal Protective Equipment (PPE) for our hardworking healthcare workers who are on the frontlines of this pandemic. Some organizations may have a supply of masks on hand as part of their Pandemic Response Plan - check your inventory and if you can, contact your local hospital to donate today.
   

Question: I thought that any time a loan balance was increased the Bank would have to run a new flood determination. Is that correct?  Learn more.

Please contact Loren Allen for more information.   
Member News
Officials: SBA loan process "overwhelmed"
Banks face rush of applications for aid
Chase CEO details coronavirus relief measures
SBA, Treasury Provide Guidance on Final Authorization of PPP Loans
CFPB Provides Remittance Rule Relief Through 2020
PAYCHECK PROTECTION PROGRAM LOANS Frequently Asked Questions (FAQs)
Do you have news to share? Please forward your press releases and photos to Allison Boyd
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