DBA Digest for February 18, 2022 |
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Save the Date #1:
2022 Teach Children to Save - April 25th - 29th
IN-PERSON and Virtual!
Sponsorships Available!
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Save the date for 2022 Teach Children to Save Day, April 25th through 29th. Classrooms are now signing up for Delaware's 24th Annual Teach Children to Save event... with the majority being in-person! Over the years Delaware’s bankers have taught an important lesson on saving to over 225,000 kids. Bank volunteer registration opens in early March.
The list of Delaware banks sponsoring this year's Teach Children to Save Day keeps growing!
Discover Bank
Barclays
TD Bank
WSFS Bank
Bank of America
Fulton Bank
M&T Bank
Wells Fargo
Artisans' Bank
Comenity Bank
First Citizens Community Bank
Shore United Bank.
The Delaware Bankers Association and the Delaware Financial Education Alliance are proud to announce a new book – The Lonely Bill - created especially for this year. The Lonely Bill tells the story of a ten-dollar bill that a boy receives from his grandmother, and what happens to money when it is squandered. The book reinforces the concept of the value of saving in a local bank for the depositor and for the community as a whole.
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Save the Date #2:
2022 DBA Annual Meeting and Dinner - May 12th
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Be there in-person for the Delaware Bankers Association 127th Annual Dinner, May 12 at the DuPont Country Club, 1001 Rockland Road, Wilmington. Hear keynote speaker Mark Lally, the CEO of First State Compassion. After a 20 year career in law enforcement, Mark trailblazed Delaware’s medical cannabis industry, creating industry-leading procedures and policies while focusing on delivering the best products and service to
thousands of patients every month.
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Save the Date #3:
Women Connect Retreat - May 26th!
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Kickoff the Memorial Day weekend at the Hyatt Place in Dewey Beach and enjoy a refreshing mind and body morning, inspirational keynote, sit down lunch, and early happy hour! The Women Connect Network serves as a catalyst to engage, empower and connect women in the Financial Services Industry. Sponsorships are available: email Corinne Stayton. |
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Nevada Virtual Trust Conference - March 1st & 2nd
DBA Members Receive Discounted Price!
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Shore United Bank donated $1,000 to Caroline County YMCA for Event Funding |
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Shore United Bank has donated $1,000 to the Caroline County Family YMCA to help continue community events such as Early Learning Readiness, the YMCA Caroline Mentoring Project, Open Doors Program, and LiveStrong Program. |
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Northern Trust Economic Outlook: Inflated Expectations |
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Inflation remains the primary point of discussion in the economic outlook. Data for January found consumer prices 7.5% higher than one year prior, the highest escalation since 1982. Forecasters, including ourselves, have persistently underestimated the pace of the price level; there may be more unpleasant surprises ahead.
This has prompted a rapid change in posture from the Federal Reserve. Rate increases are imminent, to be followed by balance sheet reduction. All of this has had a profound impact on the bond market.
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Jenifer Jurden is a Cartoonist from Wilmington who has graciously provided her Planet Jurdy cartoons for the DBA Digest. Jurdy® is her other-worldly "Hero of Happyness" whose cartoons bring levity to humans worldwide. |
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Richards, Layton & Finger Keeps the Top Spot as Delaware Counsel in High-Dollar M&A Deals
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Richards, Layton & Finger again tops the chart in Corporate Control Alert’s annual Delaware rankings of M&A transactions valued at $100 million or more. Serving as counsel on 42 of these high-value deals in 2021, more than any other Delaware firm, Richards Layton has held this top ranking for nearly 30 years.
“We’re very proud to consistently lead the state as Delaware deal counsel,” said Doneene Damon, president of the firm. “We know our clients count on us to handle their most challenging, high-stakes matters, and we work hard every day to uphold their trust in our skill, our outstanding service, and our commitment to excellence.”
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Bank TalentHQ FIFTH ANNIVERSARY B2GO SALE!
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BankTalentHQ is celebrating its 5th Anniversary and that means savings for YOU! Through March 31, 2022, select the three 30-day Online Job Posting Package for $799 and enter the code BUY2GET1 to receive savings at checkout.
The Delaware Bankers Association has partnered with BankTalentHQ to provide our members with the premier talent management site for financial industry careers. When you post on BankTalentHQ, through our partnership with Circa, your open position is also posted on a combination of 15,500+ employment offices, community-based organizations and other specific diversity hiring sites.
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OCC Virtual Innovation Office Hours - March 16 & 17 -
Last Day to Sign Up, Today, February 18!
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The Office of the Comptroller of the Currency (OCC) announced that it will host virtual Innovation Office Hours on March 16-17, to promote responsible innovation in the federal banking system.
Office hours are one-on-one meetings with representatives from the OCC Office of Innovation to discuss financial technology (fintech), new products or services, partnering with a bank or fintech company, or other matters related to responsible innovation in financial services. Each meeting will last no longer than one hour.
Interested parties should request a virtual office hours session by February 18, and are asked to provide information on the topic(s) they are interested in discussing with the Office of Innovation. Specific meeting times and arrangements will be determined after the OCC receives and accepts the request.
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Troutman Pepper Insights: FDIC Makes Bank Merger Policy a Priority This Year |
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On February 7, Acting Chairman Martin J. Gruenberg announced the Federal Deposit Insurance Corporation’s (FDIC) priorities for 2022, including undertaking a comprehensive review of the process of considering and evaluating bank mergers — a key priority since it has been over 25 years since such a review occurred.
Under the Bank Merger Act (Act), a bank seeking to merge with another must do so with the approval of a federal regulatory agency, including the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, or the FDIC. The Act requires federal regulators to consider a number of factors, including: (1) the merger’s effects on competition; (2) the convenience and needs of the communities to be served; (3) the financial and managerial resources and future prospects of the existing and proposed institutions; and (4) the risk to the stability of the financial system. The Department of Justice plays a key role in the process, performing an independent review of bank mergers to report potential violations of antitrust laws.
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Daria Placitella Joins Kaplan Partners as Principal
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Kaplan Partners, a nationally recognized retained executive search and board advisory firm, announces that Daria Placitella has joined the firm as a Principal. Placitella has over 25 years of experience in the financial services industry including significant leadership roles in asset management, commercial banking and asset recovery. She was the Managing Executive for PNC Wealth Management’s Eastern Region, leading the activities of over 1,000 employees and 35 teams with AUM of over $20 Billion. Placitella also served as PNC’s Regional President of the New Jersey market. Most recently, she combined her entrepreneurial spirit and passion as co-founder of Hope Trust, a fintech company helping special needs families plan for the future via innovative technology-driven solutions. |
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