DBA Digest for October 20, 2023

18th Annual Delaware Trust Conference!

Employees from Platinum Sponsor, The Bryn Mawr Trust Company, pose in from of the WSFS Ice Cream Truck.

The 2023 Delaware Trust Conference kicked off this week at the Chase Center on the Riverfront in Wilmington. Over 450 Wealth Professionals attended the two-day event that featured both in-person and live-streaming capabilities. All the sessions, including three on-demand sessions, are now available via the conference site. Attendees can earn up to 18.0 CLE Credits, Including 2.0 Ethics Credits! Visit the conference webpage (link below) for credit forms. All the sessions feature the stellar line-up of the nation’s top trust, legal, and wealth management experts for which the Delaware Trust Conference is known. 

Thank you to all the Sponsors, Exhibitors, Speakers, In-Person Attendees, and Live-Streamers for making the 2023 Delaware Trust Conference a memorable event!

Richard W. Nenno Receives Delaware Trust and Wealth Management Lifetime Achievement Award

DE Trust Conference Chair, Elizabeth Luk, presents the Delaware Trust Lifetime Achievement Award to Dick Nenno.

Richard W. Nenno, with Young Conaway Stargatt & Taylor, LLP, was the recipient of the 2nd Annual Delaware Trust and Wealth Management Lifetime Achievement Award presented by the Delaware Bankers Association at the 2023 Delaware Trust Conference this week. 

Dick Nenno is known nationally for his expertise in Delaware Trusts. After starting his career at Ballard, Spahr, Andrews and Ingersoll in Philadelphia, Dick worked for Wilmington Trust Company from 1982 to 2021 as Senior Trust Counsel before joining Young Conaway. Dick previously chaired the committee of the Delaware State Bar Association that updates the Delaware trust legislation and still participates in that committee's deliberations. Dick has worked tirelessly to promote the advantages of Delaware trusts. he is always eager to speak to attorneys around the country on Delaware law and how it will benefit their clients. he's gone "toe to toe" with experts from other states on comparing Delaware advantages to theirs and always comes out on top.

The award recognizes an individual who has made a significant impact on the Delaware Trust & Estate field. Nominations for the award were made by members of the DBA Trust Committee and reviewed by the Delaware Trust Conference planning committee.

2023 DE Trust Conference Sets Sail with Gala Reception on the Kalmar Nyckel!

A full crew of speakers, sponsors, and staff met aboard the Kalmar Nyckel Monday night for the kickoff reception of the 2023 Delaware Trust Conference.

Women Connect - November 2nd - 9:00 to 4:30

University & Whist Club, Wilmington

Don't miss the next Women Connect event, Thursday, November 2, 9:00 a.m. to 4:30 p.m., at the University & Whist Club in Wilmington. Topics include: “The Return to Work” Post-Pandemic Challenges and Silver Linings; The 6 Pillars of Self Care, Building Self Care into Your Life; and Emotional Intelligence. There will also be plenty of networking opportunities. Only $149 for the full-day pass ($99 for a half-day pass). Register today for this exciting day of Engagement, Empowerment, and Networking!

Business Writing Workshop

November 1, 2023, 9:00 am - 4:00 pm

Time equals money in the work world, so creating clear documents quickly that can be understood easily is crucial. Join Linda Comerford, Comerford Consulting for this rewarding on-line course via Zoom, Just $199 per person for DBA members! ($249 for non-members)

Workshop Objectives: After attending this course, participants will benefit from an increased ability to:

• Identify varied audiences and purposes for writing;
• Polish rough edges of their writing style in paragraphs, sentences, words, and format;
• Write more effective documents while following a more efficient writing process; and,
• Apply course concepts to their actual writing samples.

Taking the Grr out of Grammar

November 8, 2023, 9:00 am - 12:30 pm

Surveys show that 80% of those in the business world tend to say, “Grr!” a lot when editing a document. Join Linda Comerford, Comerford Consulting for this valuable on-line course. Just $99 per person for DBA members! ($149 for non-members)

Workshop Objectives:  This half-day course helps participants do the following when writing and editing:  

• Analyze why correct documents are so important;
• Identify the errors that tarnish a writer’s image;
• Learn practical, current grammar and punctuation rules;
• Practice correcting grammar glitches and punctuation pitfalls; and,
• Demonstrate understanding of the rules through a pre- and post-quiz.

Fulton Financial Corporation Announces Third Quarter 2023 Results

Fulton Financial Corporation reported net income available to common shareholders of $69.5 million, or $0.42 per diluted share, for the third quarter of 2023, a decrease of $7.5 million, or 9.7%, in comparison to the second quarter of 2023. Operating net income available to common shareholders for the three months ended September 30, 2023 was $72.2 million, or $0.43 per diluted share.

"We were pleased with our third quarter results; operating earnings were solid, we generated deposit and loan growth, we maintained our net interest margin and net interest income grew," said Curtis J. Myers, Chairman and CEO of Fulton Financial Corporation. "Our results reflect solid core business trends, stable credit metrics, and modest growth in our core lines of business."

Bank of America Private Bank Market Minute

Multiple crosscurrents drove investors into perceived “safe-havens” last week, while gold and oil rallied in the wake of geopolitical tensions in the Middle East. As for U.S. Equities, the S&P 500 and Dow Jones Industrial Average managed small gains for the week, while the Nasdaq Composite declined slightly. The yield on the 10-year Treasury note declined to 4.61% last Friday, down from 4.80% earlier last week, breaking a string of five consecutive weekly gains. The Chicago Board Options Exchange Volatility Index (VIX), fear gauge, spiked 15% last Friday on its strongest day for the year (hovering around the 19 level). As of last Friday, analyst estimates were for S&P 500 Q3 earnings to rise slightly. If earnings do rise, this quarter would break a string of three consecutive quarterly earnings declines. A U.S. Consumer Price Index (CPI) report showed a monthly increase of 0.4% and an unchanged annual figure of 3.7% year-over-year (YoY). Core CPI rose 0.3% for the month and 4.1% over the year. Shelter and gasoline were cited as major contributors to the increase. The Producer Price Index (PPI) for final demand rose 0.5% over the month, while growth of 2.2% YoY was the largest increase since April.

ABA Cyber Webinar: 2023 Banking Industry Cyber Trends and Claims - October 24, 2023 - 2 - 3 pm

In this session, ABA Insurance Services cyber insurance experts, Lisa Micciche and Sarah Cleves will discuss recent cyber trends—addressing topics such as cyber insurance pricing, service provider exposure, C-suite liability, and BIPA—and cyber claims, from frequently reported claims to large dollar and unusual claims. Hosted by American Bankers Association (ABA), agents and bankers are invited to attend this webinar.

Opportunity LIVES Here Symposium - Nov. 1

Inspired by the philosophy that “prosperity is something everyone can realize,” State Senator Darius Brown launched this initiative in partnership with the Riverfront Development Corporation of Delaware and the Delaware River and Bay Authority. Opportunity LIVES Here promises to transform the Three Rivers area – defined by the confluence of the Brandywine, Christina, and Delaware Rivers – into an economically, culturally, and thriving community. The agenda includes; Building an Economic Ecosystem, Investing in Our Neighborhoods, Access to Capital, and When Opportunity Presents Itself.

Opportunity LIVES Here Symposium, Wednesday, November 1, 9 a.m. – 12 p.m.

Chase Center on the Riverfront, Wilmington.

Path to Prosperity - November 1st - Bridgeville, DE

You are invited to the Atlantic “Path to Prosperity” regional economic development series in Bridgeville, DE.  The Federal Deposit Insurance Corporation (FDIC), Small Business Administration (SBA), and the United States Department of Agriculture (USDA) have partnered to provide individuals, small businesses, including agriculture enterprises (farmers and ranchers), and urban/rural communities, useful information, tools, resources, and an opportunity to engage in dynamic discussions intended to create economic progress. The no-cost series features experts in the lending industry, Federal Government, and community partners and stakeholders.

The event is scheduled for November 1, 2023, from 10:00 am until 5:00 pm, at the Bridgeville Public Library, located at 600 South Cannon Street, Bridgeville, DE 19933.  All participants must register to attend either “In Person” or “Virtually”. To register for the event, please click the link below.

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.

Richards, Layton & Finger’s Amanda Steele Named Among ABI’s “40 Under 40”

Richards, Layton & Finger director Amanda R. Steele has been selected for The American Bankruptcy Institute’s 2023 Class of 40 Under 40, the only honoree from Delaware. Each year ABI identifies 40 individuals under the age of 40 who demonstrate remarkable ability, leadership, and achievement in the bankruptcy and insolvency community. The “40 Under 40” honorees, selected by a group of experienced insolvency professionals, are distinguished by their exceptional professional achievements and service. Ms. Steele focuses her practice on corporate restructuring, bankruptcy, and other insolvency matters.

Bruce Tigani Earns Recognition as a Top Private Wealth Lawyer

Morris James is pleased to announce that Bruce Tigani earned recognition from Business Today as a "2023 Top 10 Powerhouse Private Wealth Law Lawyer" for his Tax, Estates and Business practice in Delaware.

With a law career spanning over 30 years, Bruce maintains a broad-based business, tax, healthcare and real estate practice. In providing clients an integrated focus to both transactional and planning aspects essential to their needs, Bruce delivers a coordinated and comprehensive approach to the representation of regionally based closely-held businesses, professional practices, and individuals.

Wilmington University Scholarship Gala 2023

We are thrilled to announce the return of our Green and White Scholarship Gala. You are invited to join us at our New Castle Campus on Saturday, Oct. 21, from 7 p.m. to midnight. The Green and White Scholarship Gala features themed party rooms filled with the region’s best food, cocktails, and entertainment, transforming the University into an exciting party atmosphere for an evening of fun. All proceeds from this event support the Wilmington University Scholarship Fund.

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