All Episodes ⬇︎
Episode 1
Welcome to Banking!
Introduction video to the BND podcast. BND is a podcast that covers the world of banking and how economics, finance, and technology all intersect within that world.
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Episode 2
Commercial Lending
This episode discusses the documentation a small business owner or real estate investor will need to gather before going to apply at a bank for a commercial mortgage. Insight is also provided into the overall process of getting a commercial loan and the bankers perspective on different aspects.
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Episode 3
Technology
This episode is a high level overview of the technology banks currently utilize including a core system, technology service providers or technology vendors, payment systems, and cyber security.
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Episode 4
First Bank of the U.S.
This episode is an interview with Jon Burton, Director of Development for Independence Historical Trust, about the fund raising and restoration of the First Bank of The United States. This building holds major historical significance for the city of Philadelphia. It was home to the first central bank in U.S. history. The bank was chartered in 1791 under the leadership of Alexander Hamilton.
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Episode 5
BRICS
This week the BRICS nations gathered in Africa. Six additional nations agreed to join BRICS. What does this mean for the U.S. dollar as the global reserve currency?
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Episode 6
Personal Financial Statement
This episode describes what a personal financial statement is, how to get one, and how best to use it.
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Episode 7
Credit Cards and Auto loans
Update on credit card debt and auto loans
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Episode 8
Credit Unions Buying Banks
This episode explores the trend of credit unions buying community banks.
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Episode 9
Bank Merger and Acquisition Update
Update on M&A activity in the U.S. banking industry. This episode is specifically focused on merger of equal (MOE) activity and industrial loan company (ILC) banking charter activity.
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Episode 10
The Best Business Related Movies
I present my list of best business related movies.
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Episode 11
The Corporate Athlete
Physical, mental, and spiritual fitness is critical, if your goal is to maintain peak performance throughout a long career.
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Episode 12
Interview with Rob Titterington Executive Recruiter
Interview with executive recruiter discussing why banks and individuals should work with recruiters.
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Episode 13
Student Loans
This episode explores the history of student loan debt, the current situation, and pointers on how to deal with student loans.
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Episode 14
Commercial Real Estate Update
This episode provides and update on the commercial real estate market.
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Episode 15
Book Review: The Richest Man in Babylon
This episode is the first in the book review series. The first book being reviewed is the business classic The Richest Man in Babylon.
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Episode 16
Book Review: Chip War
This episode is part of the book review series. The book being reviewed is Chip War.
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Episode 17
Banking and Economic Update
This episode provides and update on current banking and economic topics.
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Episode 18
Unrealized Losses in Bank Bond Portfolios
This episode examines the issue of unrealized losses in bank bond portfolios.
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Episode 19
Interview with Alex Blom Creates
Interview with Alex Blomstrom owner of Alex Blom Creates. This is the first in the entrepreneur’s interview series. Be sure to check out Alex at www.alexblomcreates.com.
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Episode 20
Loan Participations and Syndications
This episode explores loan participation’s and syndication’s.
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Episode 21
Interview with Omar Jordan CEO of Coviance
This episode is an interview with Omar Jordan, CEO and Founder of Coviance. Please check out Coviance’s products at www.coviance.com.
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Episode 22
Book Review: The Dark Net (Crypto Series Part I)
This episode is a book review of The Dark Net. It is also part I of a Crypto series. This book explores the genesis of Bitcoin and cryptocurrencies. How did Bitcoin start? Why did it start? How did it tie into a larger transformation that was occurring as part of the Crypto Wars?
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Episode 23
Book Review: Going Infinite (Crypto Series Part II)
This episode is a book review of Going Infinite. It is also part II of the crypto series. This book explores the rise and fall of Sam Bankman-Fried and his companies FTX and Alameda Research. For the series we take a close look at the period between 2016 to 2022.
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Episode 24
Movie Review: Blackberry
This episode is a movie review for Blackberry.
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Episode 25
Review of Big Vape: The Rise and Fall of Juul
This episode is a review of the Netflix documentary Big Vape: The Rise and Fall of Juul. This documentary is based on the book Big Vape by Jamie Dusharme. The story details the founding of the company Juul, which designed a vaping product that became an online phenomenon. The company ran into issues with the way that it marketed the product to kids, created nicotine addiction, and led to health problems. This story makes for an excellent business case study.
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Episode 26
Loan Workouts
This episode looks at an article from Bank Director, which discusses the current banking outlook as it relates to a bank’s loan portfolio and how potential issues could lead to loan workout situations. In addition, banks have a lack of workout professionals, lenders experienced in workout situations, and a potential dearth of underwriting talent. Please make sure to check out Bank Director at their website www.bankdirector.com.
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Episode 27
Crypto Crash of 2022 (Crypto Series Part III)
This episode examines the crypto market collapse of 2022, looking at key events, companies, and timelines. cryptocurrency-executive-brief.pdf (icba.org)
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Episode 28
Banking Crash of 2023 (Crypto Series Part IV)
This episode examines how the crypto market collapse of 2022 led directly into the banking crisis in the spring of 2023, looking at key events, companies, and timelines. A Retrospective on the Crypto Runs of 2022 – Federal Reserve Bank of Chicago (chicagofed.org)
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Episode 29
Millionaires, Billionaires, UHNWI, oh my!
This episode looks at interesting statistics and information around millionaires, billionaires, and ultra-high-net-worth-individuals (UHNWI). We also look at the state of Pennsylvania as a specific example and see how that state matches up with its neighboring states and nationally.
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Episode 30
Check Fraud
This episode looks at the explosion in check fraud that banks have been facing for the last two years.
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Episode 31
Financial Advice from Millennials and Gen Z
This episode discusses a recent article in the Wall Street Journal that focuses on Millennial and Gen Z’s attitudes about finance.
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Episode 32
Movie Review: Dumb Money the Gamestop Story
This episode is a review of the movie Dumb Money, which looks at the stock craze during the pandemic and how this affected retail investors, hedge funds, wall street, trading platforms, and social media.
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Episode 33
Identity theft & Scams
Just in time for the holiday season, this episode explores identity theft and scams that can cause you serious financial troubles. We look at signs of identity theft, how to deal with identity theft when it happens, and I provide some helpful tips and websites. Equifax.com, Experian.com, TransUnion.com, Better Business Bureau – bbb.org, Consumer.ftc.gov, Identitytheft.gov, Irs.gov/individuals/identity-protection, Ic3.gov, StaySafeOnline.org, Dhs.gov, Cisa.gov
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Episode 34
Interest Rates
This episode examines interest rates with a look at the Federal Funds rate, treasury rates, and various consumer and business rates.
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Episode 35
Yield Curve
This episode examines the yield curve, specifically the inversion that has occurred since July of 2022 and what the ramifications are on consumers and fixed income investors. A normal sloping yield curve is displayed along with an inverted yield curve. What does this ultimately mean for the general economy in 2024?
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Episode 36
Interview with Kent Kirby from ABRIGO
This episode features an interview with Kent Kirby. ABRIGO is a fintech company that focuses on financial solutions for banks across the U.S. One of the areas they specialize in is loan automation. The conversation with Mr. Kirby focuses on why a bank would want to automate their loan process and what are some of the challenges with automating. www.abrigo.com
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Episode 37
U.S. National Debt
This episode discusses the current situation with the national debt, which is about to hit $34 Trillion. Some of the things that are discussed include unfunded liabilities, derivatives, the benefits of being the world reserve currency and why having a debt to GDP ratio of 120% is a very bad thing.
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Episode 38
2023 Year End Recap
This episode is a recap of the podcast episodes from 2023, documenting my first four months in the podcast world. I discuss the different sections of content on the YouTube channel and what is to come in 2024.
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Episode 39
Inflation
This episode looks at inflation in the U.S. from the 1970’s to today. It specifically examines the stagflationary periods in the 1970’s and how that relates to today’s economic environment. We consider the Fed’s coming interest rate decisions and wonder if the Fed is about to repeat past mistakes.
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Episode 40
Beneficial Ownership Information
This episode examines Beneficial Ownership Information (BOI), which has been rolled out by FINCEN based on the Corporate Transparency Act. BOI is being rolled out in three parts. The first part, which is the collection of information, is already live. The second part is about to be put into effect and the third party is yet to be rolled out. Existing companies must register by January 1, 2025. Companies that are created in 2024 have 90 days to register. Please reach out to your local U.S. congressional representative and inquire about BOI.
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Episode 41
Open Banking
This episode explores the coming financial regulation known as Open Banking. This is being rolled out through the Consumer Financial Protection Bureau (CFPB). Specifically, section 1033 of the Dodd-Frank Act requires banks to make available to consumers and authorized third parties’ certain data relating to consumers’ transactions and accounts. Everyone needs to ask themselves: do you want big tech getting all your banking data? Please reach out to your local U.S. congressional representative and inquire about Open Banking.
https://www.federalregister.gov/documents/2020/11/06/2020-23723/consumer-access-to-financial-records
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Episode 42
Interview with Bob Newman from Chatham Financial
his episode is an interview with Bob Newman from Chatham Financial. Chatham is a global advisory and technology firm focused exclusively on financial risk management. Chatham has expertise in the debt and derivatives markets. The conversation focuses on derivatives and how banks can effectively use them to hedge the risk on their balance sheet.
https://www.chathamfinancial.com/
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Episode 43
Commercial Real Estate Update
This episode provides an update on the commercial real estate market with a focus on commercial office space. Office properties continue to experience deteriorating rent rolls, which is leading to a decrease in property values, and thus delinquencies on their existing mortgage debt.
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Episode 44
Is the Fed going to cut interest rates?
This episode examines dissent at the Fed or a lack there of and what that means for long term decision making. What one of the Fed governors thinks about the current economic situation. Additionally, we look at some articles exploring how the reduction of interest rates could affect the market in 2024.
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Episode 45
Banks dumping loans?
This episode looks at why big banks are selling off segments of their loan portfolios to private lenders and what some of the potential consequences could be.
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Episode 46
Bank M&A Update
This episode provides an update on the merger and acquisition environment in the U.S. banking industry for 2023 and discusses possible paths for M&A in 2024.
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Episode 47
General Banking Industry Update
This episode provides a general update on the U.S. banking industry by looking at various articles depicting information on regulation, profitability, deposits, lending, interest rates, etc.
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Episode 48
Review Skandal! Bringing Down Wirecard
This episode reviews the Netflix documentary on the rise and fall of Wirecard. In addition, we examine the aftermath and provide an update on the current situation. Below is a link to the article referenced in the episode from the Wall Street Journal.
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Episode 49
Banking Update 1-21-2024
This episode provides a general update on the U.S. banking industry.
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Episode 50
Credit Card Debt Update
This episode provides an update on credit card delinquency at the six major credit card banks and looks at the affects of this debt on the U.S. consumer.
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Episode 51
Change in Control Agreements
This episode provides an overview of change in control (CIC) agreements for bank executives. Particularly how it relates to merger and acquisition transactions.
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Episode 52
Managing Your Regulator
This episode looks at what it means to “manage the relationship with your regulator.” Looking at the current regulatory environment and what bank executives are currently experiencing. It is critical that your bank appropriately manages their regulatory relationship.
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Episode 53
US Population Growth
This episode examined projected U.S. population growth and median income for 2024-2029. Will U.S. population growth continue to grow over the next five years? Will median household income continue to increase over the next five years? What does this mean for the overall economy and the future of the country?
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Episode 54
Fed Presidents Escape and Feb Balance Sheet Update
This episode looks at the investigation into two Federal Reserve Bank Presidents who were accused of inappropriate trading in their personal portfolio’s during the Covid pandemic (I.e. insider trading). We also look at the continued runoff in the Federal Reserve’s balance sheet and the effects that is having on the REPO market.
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Episode 55
Banking Update 1-28-2024
This episode provides a weekly update on U.S. banking industry news.
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Episode 56
Can AI help community banks?
In this episode we look at the efficiencies that can be created for community banks by working with AI. But is AI what it’s projected to be?
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Episode 57
Banking Regulatory Update
This episode provides an update for the 1st quarter of 2024 on the hot button regulatory issues currently being proposed in the U.S. banking industry. We use the Independent Community Bankers Association (ICBA) 2024 Advocacy in Action brief as a guide. A link to the PDF brief is provided.
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Episode 58
Regional Banks in Trouble?
This episode examines the collapse this week in regional bank stocks, which started with the disastrous earnings report from New York Community Bancorp, and then quickly spread to other regional banks and even several banks in Tokyo and Switzerland. Regional banks are facing many issues with the deterioration of the commercial real estate market.
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Episode 59
Treasury Funding
This episode examines the Treasury’s reactions to fluctuations in the markets in 2023 and what their funding plans are for the beginning of 2024.
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Episode 60
Banking Update 2-4-2024
This episode provides a weekly update on U.S. banking industry news.
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Episode 61
SCOTUS looks at Chevron Doctrine
This episode looks at two legal cases that are currently in front of the United States Supreme Court and could have a major impact on Chevron Doctrine, which was established 40 years ago. Chevron Doctrine gives tremendous power to financial regulators and government agencies to interpret laws and create regulations that can be very difficult if not impossible to fight in court. The ruling here could have a big impact on how banks are regulated.
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Episode 62
Disaster in the jobs report!
This episode examines an article from Zero Hedge that breaks down the Bureau of Labor Statistics (BLS) employment report for January of 2024. You will want to watch this to the end because the native vs foreign born workers job creation is a bomb shell! A link to the article is provided.
Inside The Most Ridiculous Jobs Report In Recent History | ZeroHedge
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Episode 63
NY Community Bancorp in Trouble!
This episode examines the roller coaster ride of a week for New York Community Bancorp. NYCB posted a huge loss for the 4th quarter of 2023 due to bad CRE loans, which led to downgrades, a slashing of their dividend, investor lawsuits, and a 70% drop in their stock price!
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Episode 64
Fed Senior Loan Officer Opinion Survey
This episode looks at the quarterly Federal Reserve Senior Loan Officer Opinion Survey on Bank Lending Practices. This survey was just released for January 2024. This survey is very important because it informs on what senior bank executives are seeing in terms of loan demand and tightening or weakening of loan standards (i.e. underwriting) across all loan products (Commercial real estate, residential mortgages, and consumer loans). A link to the survey is provided.
https://www.federalreserve.gov/data/sloos/sloos-202401.htm
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Episode 65
JPMorgan growing their branches
This episode looks at JP Morgan’s plan to increase their overall branch count by 500. They are looking to beef up around certain major cities including Boston, Philadelphia, Washington, D.C., and Charlotte. This is interesting given the current industry trend for the last decade is shuttering branches.
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Episode 66
Banking Update 2-4-2024
This episode provides a weekly update on U.S. banking industry news.
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Episode 67
Interview 2 with Bob Newman on Derivatives
This episode is the second interview with Bob Newman from Chatham Financial. Chatham is a global advisory and technology firm focused exclusively on financial risk management. Chatham has expertise in the debt and derivatives markets. The conversation here is based around an example of a “vanilla” derivative transaction, that can help a bank turn mismatches in assets and liabilities on their balance sheet into matches.
https://www.chathamfinancial.com
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Episode 68
The Lords of Easy Money Part 1
In this episode we review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? This is the first in a multi-part series.
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Episode 69
The Lords of Easy Money Part 2
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we wrap up chapter 1. This is a multi-part series.
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Episode 70
Review of Netflix documentary Bitconned (Crypto Series Part V)
This episode continues the crypto series with a review of the 2024 Netflix documentary Bitconned. The story revolves around a crypto company named Centra Tech and the three company executives: Ray, Sorbee, and Robert. These men scammed investors out of millions. It is crazy how they pulled this off and you absolutely will not believe the ending!
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Episode 71
Banking Update 2-18-2024
This episode provides a weekly update on U.S. banking industry news.
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Episode 72
The Lords of Easy Money Part 3
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review chapter 2. This is a multi-part series.
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Episode 73
Heartland Tri-State Bank Failure (Crypto Series Part VI)
This episode continues the crypto series with a look at the failure of Heartland Tri-State Bank in July of 2023. The CEO of that bank has been charged with multiple crimes and is alleged to have embezzled money to cover a cryptocurrency scam that he got involved in. This turned out to be the fourth bank failure in 2023 that was directly involved with cryptocurrency. The first three were a flight of deposits, this case was potentially good old-fashioned white-collar crime.
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Episode 74
AI in banking
This episode looks at how artificial intelligence is creepy into the banking industry. A number of banks are currently experimenting with Generative AI to create more efficiency and a better customer experience. However, there is another side to AI, a potentially darker one, that seeks to collect all employee’s bio-metric data and track all their actions. Will AI be a great benefit or a catastrophic nightmare?
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Episode 75
Risks in banking
This episode looks at some of the main risks facing banks including credit risk, marketing risk, operational risk, liquidity risk, interest rate risk, and reputational risk. We examine seven recommended tactics banks can use to manage these risks. We use the PCBB BID Daily Newsletter and the OCC Semiannual Risk Perspective Report for the fall of 2023. A link to the OCC report is listed below.
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Episode 76
Banking Update 2-25-2024
This episode provides a weekly update on U.S. banking industry news.
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Episode 77
The Lords of Easy Money Part 4
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review chapter 3. This is a multi-part series.
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Episode 78
Can Capital One pull off Discover Card Acquisition?
This episode examines the announced merger between Capital One and Discover Card, which would create the 8th largest bank in the U.S. and the largest credit card provider. This merger faces headwinds from regulators, lawmakers, and competitors. Can Capital One complete this transaction within their stated time frame, if at all?
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Episode 79
As the Republic First Turns!
This episode examines the fallout this week from a group of investors pulling out of their planned capital investment in Republic First Bank. This story has been a “soap opera” in the banking industry for the last 2 years with many twists and turns.
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Episode 80
Generational Tug-of-War in the Housing Market
This episode looks at what is transpiring in the U.S. housing market through the current circumstances of baby boomers, Gen X, and Millennials.
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Episode 81
Should your bank update its core system?
This episode gives a brief history on core banking systems, who the major core providers are, why you would or would not want to upgrade your core system, and furthermore, would using a “ghost core” be an effective strategy for future innovation.
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Episode 82
Relationship Banking
This episode delves into relationship banking and how that is at the core of every community bank business model. Do you have relationships or single purpose transactions? How do you know who your best customers are? How do you value a full banking relationship? Given current market conditions, it is critical for community banks to be laser focused on relationship banking.
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Episode 83
Banking Update 3-3-2024
This episode provides a weekly update on U.S. banking industry news.
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Episode 84
Financial Tips for Gen Z with Alex Blom Creates
This episode is an Interview with Alex Blomstrom owner of Alex Blom Creates to address financial questions she has received from social media followers. We focus on things to do, things not to do, good financial habits and building a team. We then go through specific items including credit cards, credit reports, budgeting, student loans, insurance, and getting your first apartment. Be sure to check out Alex’s website at:
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Episode 85
Beneficial Ownership Information (BOI) Update!
This episode provides an update on Beneficial Ownership Information (BOI) through the Corporate Transparency Act (CTA). Major court ruling this week!
Link to FinCen BOI website – https://www.fincen.gov/boi
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Episode 86
Review of FDIC Quarterly Banking Profile (Q4 2023)
This episode reviews the 4th quarter of 2023 FDIC quarterly banking profile report. We run through the highlights and break down what is included in the report. This is a very important report that gets released quarterly by the FDIC. It reviews the overall performance of the U.S. banking industry.
Link to FDIC Quarterly Banking Profile – Fourth Quarter 2023
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Episode 87
NYCB rollercoaster continues!
This episode examines the continuing roller coaster ride for New York Community Bancorp. NYCB was rescued this week after investors replaced the CEO and injected over $1 Billion in fresh capital. NYCB’s stock has plummeted recently as they have announced revisions to their financial statements, replaced their CEO and other executives, disclosed a lack of internal controls, in addition to stating that 40% of their office loan portfolio is currently labelled as “criticized.” Will the new CEO and injection of capital be enough to save this bank?
Link to FDIC Quarterly Banking Profile – Fourth Quarter 2023
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Episode 88
Banking Update 3-10-2024
This episode provides a weekly update on U.S. banking industry news.
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Episode 89
The Lords of Easy Money Part 5
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review chapter 4. This is a multi-part series.
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Episode 90
The Lords of Easy Money Part 6
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review chapter 5. This is a multi-part series.
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Episode 91
Confusion and chaos in the college admissions season!
This episode examines the current situation with college admissions including the revised FAFSA forms, SCOTUS decision, and optional tests such as ACT and SAT. Understanding your financial aid package is going to be very difficult right now. Please share this with anyone that you know is currently applying to college.
Link to Wall Street Journal Article: The Most Confusing, Chaotic College Admissions Season in Years – WSJ
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Episode 92
Binance in trouble, Blackrock in love? (Crypto Series Part VII)
This episode continues the crypto series with a look at two executives from Binance that were detained in Nigeria and accused of crashing the country’s currency! We also look at Blackrock’s newfound love affair with Bitcoin and ask why now?
Links to Wall Street Journal Articles:
How Bitcoin Made a Believer Out of BlackRock – WSJ
Crypto Gets Blamed for a Real-Life Currency Crisis in Nigeria – WSJ
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Episode 93
Inflation continues to run hot!
This episode examines the current inflation data from this past week and the impact that inflation is having on the overall economy. Dollar Family is closing 1,000 stores! Restaurants are struggling to stay afloat.
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Episode 94
Update on new De Novo banks and M&A news
This episode provides an update on the status of De Novo bank start-ups. In addition, we examine current merger and acquisition data and try to understand why mergers are taking so long to get completed.
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Episode 95
Banking Update 3-17-2024
This episode provides a weekly update on U.S. banking industry news.
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Episode 96
The Lords of Easy Money Part 7
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review chapter 6 and finish Part 1 of the book. This is a multi-part series.
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Episode 97
NAR settles, Realtors in crisis!
This episode looks at the resent National Association of Realtors (NAR) lawsuit settlement and what the potential consequences will be for buyers and sellers of residential real estate. The new changes are not scheduled to be enacted until July of 2024. This settlement will undoubtedly lead to many changes in the real estate sales process.
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Episode 98
Japan ends era of negative interest rates
This episode examines the actions of Japan’s central bank this week in ending their negative interest rate policy. This action ended the era of negative interest rates that swept over the global economy over the last twelve years. Did the negative interest rate policy work or was it a failure?
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Episode 99
Bank Director 2024 Risk Survey
This episode examines Bank Director’s 2024 Risk Survey. What are banker’s biggest concerns right now and for the rest of 2024? Link – www.bankdirector.com
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Episode 100
Banking Update 3-24-2024
This episode provides a weekly update on U.S. banking industry news.
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Easter Special
Personal Financial Review
This is a special episode for Easter weekend. Let’s reflect on our personal financial lives.
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Episode 101
The Lords of Easy Money Part 8
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review Part 1 of the book (Chapters 1-6) and look at several related current articles. This is a multi-part series.
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Episode 102
The Lords of Easy Money Part 9
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review chapter 7. This is a multi-part series.
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Episode 103
Vendor or Partner?
This episode asks the question are the companies banks work with vendors or partners? Regulators require that banks have a “vendor management system” and manage “third-party relationships.” Why then are vendors frequently referred to as “partners”? Is the bank really entering into a partnership? Can someone you hire to provide a service be a partner?
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Episode 104
Can you be all things to all people?
This episode asks the question can you be all things to all people? In the early 2000’s, after the repeal of the Glass-Steagall Act, banks sought to create a “universal” banking model by getting into investment banking, commercial banking, insurance, wealth management, leasing, etc. Did this strategy actually work? We look at a comparison between investment banking and wealth management services.
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Episode 105
Update on bank bond portfolios
This episode provides an update on how bank bond portfolios are faring so far in the first quarter of 2024.
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Episode 106
Update on bank M&A news
This episode provides an update on bank merger and acquisition news. Will the anticipated wave of bank M&A deals materialize or is M&A activity dead for 2024?
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Episode 107
Banking Update 4-7-2024
This episode provides a weekly update on U.S. banking industry news.
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Episode 108
Interview with Greg Smith from Stonier
This episode is an Interview with Greg Smith, who is the Curriculum Director for the Stonier Graduate School of Banking. Stonier is a banking school, which is run through the American Bankers Association (ABA) and has a partnership with the Wharton School of Business at the University of Pennsylvania. Stonier has been around for 89 years and was originally founded by Dr. Harold Stonier in 1935. Listed below is a link to the Stonier website with information about the program.
Link: https://www.aba.com/training-events/schools/stonier-graduate-school-of-banking/about-stonier
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Episode 109
The Lords of Easy Money Part 10
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review chapter 8. This is a multi-part series.
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Episode 110
Banking Update 4-14-2024
This episode provides a weekly update on U.S. banking industry news.
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Episode 111
What is Pig Butchering? (Crypto Series Part VIII)
This episode continues the crypto series with a look at a new crypto related fraud called Pig Butchering. You will not want to miss how this fraud is carried out.
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Episode 112
Will OCC & FDIC policy changes help M&A?
This episode examines recent policy changes from the OCC and FDIC around bank mergers and acquisitions. Both regulatory agencies are seeking to make changes to The Bank Merger Act. While both regulatory agencies state these changes will benefit M&A transactions is that ultimately what the actual effects will be?
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Episode 113
Do the clothes make the man?
This episode examines how men dress in today’s financial services industry. What does your dress say about you? Are you fully utilizing the “halo effect”? In today’s laid back “business casual” world, do you still need to “dress to the nines”? What does dress mean for men in terms of maturity, leadership, providing, generosity, and gentlemanliness? As the proverb says, “the clothes make the man.”
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Episode 114
Provident-Lakeland M&A deal unusual conditions?
This episode examines the recent M&A deal between Provident and Lakeland banks in which regulators imposed unusual conditions for their approval of the transaction. The areas highlighted include commercial real estate (CRE), capital, and residential mortgages. Could these conditions become the norm in M&A transactions? If so, what does that mean for M&A activity?
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Episode 115
ICBA 2nd Quarter Regulatory Update
This episode provides an update for the 2nd quarter of 2024 on the hot button regulatory issues currently being proposed in the U.S. banking industry. We use the Independent Community Bankers Association (ICBA) 2024 Advocacy in Action brief as a guide. A link to the PDF brief is provided. Also included are links to associates episodes on Beneficial Ownership Information (BOI) and Dodd-Frank Act 1033 or Open Banking.
Links:
Episode 40: BOI – YouTube – https://youtu.be/LgNY199MNo0
Episode 85: BOI Update – YouTube – https://youtu.be/P0BdNXMPgkk
Episode 41: Open Banking – YouTube – https://youtu.be/7CrNxeg5sy8
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Episode 116
Banking Update 4-21-2024
This episode provides a weekly update on U.S. banking industry news.
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Episode 117
World’s Largest Banks (by assets)
This episode looks at the world’s largest banks by assets as of April 2024. The four largest banks in the world continue to be Chinese. The U.S. big four all continue to remain in the top 15. JP Morgan continues to remain in the 5th spot.
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Episode 118
Interview with Bryan Nester, CEO of Nester Insurance
This episode is an Interview with Bryan Nester, CEO of Nester Insurance. We discuss the current health insurance environment for business. Nester Insurance is an independent insurance and financial services firm with offices in Pennsylvania and New Jersey. They specialize in providing employers with personal uncomplicated solutions to group health benefits plans, administration, and compliance management.
Link: Bryan Nester | Nester Insurance Agency (ebadvisor.com)
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Episode 119
Interview with Robert White, CEO of 1st Colonial Bank
This episode is an Interview with Robert “Bob” White, CEO of 1st Colonial Community Bank. We discuss Bob’s career, what it is like being the CEO of a community bank, the background of the bank, and his thoughts on the regulatory environment and overall economy. 1st Colonial is a community bank based in Pennsylvania and New Jersey that seeks to provide relationship banking and excellent service to all its customers.
Link: 1st Colonial Community Bank | South NJ & Southeast PA
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Episode 120
Republic First Bank Fails!
This episode examines the seizure of Republic First Bank by regulators and the subsequent sale to Fulton Bank. Republic Bank is the first bank failure of 2024 and the 6th largest bank failure since 2010. Republic bank had approximately $6 Billion in assets at the time of its failure on Friday, April 26, 2024. A truly crazy end to an epic bank soap opera!
Link: Episode 79: As the Republic First Turns! https://youtu.be/oPOefMW4Jco
Episode 121
Banking Update 4-28-2024
This episode provides a weekly update on U.S. banking industry news.
Episode 122
Banking The Lords of Easy Money Part 11
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review chapter 9. This is a multi-part series.
Episode 123
Banking The Lords of Easy Money Part 12
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review chapter 10. This is a multi-part series.
Episode 124
Conversation with Allan Burkley
This episode is a discussion of the current banking environment focusing on the failure of Republic Bank, what will the Fed do with interest rates, and how accurate are the Jobs and GDP data. Allan Burkley is a highly experienced commercial banker. He currently works for Tompkins Bank.
Episode 125
NYCB, Republic Bank, and Blue Foundry Bancorp
This episode provides an update on the ongoing struggles for New York Community Bank, the continued unfolding of the Republic Bank acquisition by Fulton Bank, and the activist actions at Blue Foundry Bancorp.
Episode 126
Should banks be concerned about higher efficiency ratios?
This episode examines a recent article from Bank Director Magazine titled: “The Efficiency Toolkit.” The article looks at how bank efficiency ratios have worsened since 2023 due to rising costs and a challenging revenue environment. A link to the article is included below.
Link: Magazine Exclusive: The Efficiency Toolkit | Bank Director
Episode 127
How does ‘higher for longer’ affect bank strategies?
This episode examine a recent article in Bank Director titled: “Higher for longer’ forces rethink of deposit strategies.” As deposit costs continue to rise and interest rates remain elevated, this rate environment is putting pressure on bankers to balance deposit growth against competitive pricing.
Link: ‘Higher for Longer’ Forces Rethink of Deposit Strategies | Bank Director
Episode 128
Banking Update 5-5-2024
This episode provides a weekly update on U.S. banking industry news.
Episode 129
The Lords of Easy Money Part 13
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review chapter 11. This is a multi-part series.
Episode 130
The Lords of Easy Money Part 14
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review chapter 12. This is a multi-part series.
Episode 131
The Lords of Easy Money Part 15
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review Part 2 of the book (Chapters 7-12). This is a multi-part series.
Episode 132
Banking Update 5-10-2024
This episode provides a weekly update on U.S. banking industry news.
Episode 133
The Lords of Easy Money Part 16
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we start Part 3 and review chapter 13. This is a multi-part series.
Episode 134
The Lords of Easy Money Part 17
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review chapter 14. This is a multi-part series.
Episode 135
Banking Update 5-19-2024
This episode provides a weekly update on U.S. banking industry news.
Episode 136
Public vs Private Bank Executive Compensation
This episode reviews an article from Bank Director titled: “Do top executives at public banks get paid more than those at private banks?” The study specifically looked at compensation for four executive positions, which included CEO, CFO, CLO, and CCO. The study encompassed approximately 221 banks ranging in asset size from $1 billion to $5 billion. A link to the article is included below.
Link: Do Top Executives at Public Banks Get Paid More Than Those at Private Banks? | Bank Director
Episode 137
RIP Daniel Kahneman and Jim Simons
This episode acknowledges the passing of two legends in the financial industry, Dr. Daniel Kahneman and Jim Simons. Dr. Kahneman was a psychologist who turned finance on its head by giving rise to “behavioral economics.” Jim Simons was an innovator in finance by pioneering the use the algorithms and artificial intelligence in various trading strategies. He left academia and became one of the most successful investors of all time. His trading firm gave rise to the term “Quants.” R.I.P. Dr. Kahneman and Mr. Simons, they changed the world of finance.
Episode 138
ICBA’s best community banks for 2024
This episode looks at the Independent Community Bankers Association (ICBA) list of best performing community banks for 2024. They list banks in three categories according to asset size. They review banks under $300 million, $300 million to $1 billion, and over $1 billion. The top 25 banks for each category are provided. Banks are judged based on their return on assets (ROA). A link to the article is provided below.
Link: ICBA’s Best-Performing Banks of 2024 (independentbanker.org)
Episode 139
Should banks be worried about loan loss provisions?
This episode examines the amount of money banks put into their loan loss provisions during Q1 of 2024. Regulators want banks to put more money aside to cover potential loan losses. The question is, are banks putting themselves in jeopardy by not putting aside enough loan loss provisions to cover potential nonperforming loans? In addition, how is CECL performing?
Episode 140
The Lords of Easy Money Part 18
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review chapter 15. This is a multi-part series
Episode 141
The Lords of Easy Money Part 19
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review the last chapter 16. This is a multi-part series.
Episode 142
22 banks saw major deposit runs amid March 2023 crisis!
This episode examines an explosive new report from the Federal Reserve Bank of New York titled “Tracing Bank Runs in Real Time.” The study found that 22 banks experienced deposit runs during the March 2023 banking crisis. The findings in this report suggest that modern payment systems are adding a complexity to bank runs that is not yet fully understood. A link to the report is below.
Link – sr1104.pdf (newyorkfed.org)
Episode 143
Chaos at the FDIC!
This episode follows the evolving story of the cultural crisis at the Federal Deposit Insurance Corporation (FDIC) and its embattled Chairman Martin Gruenberg. An explosive report was released by an independent firm on the FDIC’s workplace culture, and it found sexual harassment, discrimination, and more misconduct including Mr. Gruenberg’s abhorrent attitude toward employees. Mr. Gruenberg was ready to step down but now is apparently staying, under political pressure, until a successor can be named.
Episode 144
Banking Update 5-26-2024
This episode provides a weekly update on U.S. banking industry news.
Episode 145
Can a bank’s insurance bond survive fraud losses?
This episode looks at a recent article in Bank Director titled “Will your bank be covered when fraudsters strike?” The article focuses on what a bank’s board of directors should know about the ins-and-outs of their insurance bond. Basically, as all types of bank fraud continue to rise, banks need to make sure they are properly covered from potential losses. A link to the article is below.
Link – Will Your Bank Be Covered When Fraudsters Strike? | Bank Director
Episode 146
Will credit quality be impacted by CECL?
This episode looks at a recent article in Bank Director titled “Will community banks know when their credit quality cracks?” The article focuses on the implementation of the current expected credit loss model or CECL and how the handling of troubled debt restructuring, or TDRs, has changed under it. Will banks have the proper data moving forward to recognize current trends in their loan portfolios? A link to the article is below.
Link – Will Community Banks Know When Their Credit Quality Cracks? | Bank Director
Episode 147
How can the bank’s board help in implementing AI?
This episode looks at a recent article in Bank Director titled “How bank boards can support the implementation of AI” The article provides three actions a bank board can utilize to help guide the organization. In addition, the authors consider how a board might restructure itself to better handle AI oversight. A link to the article is below.
Link – How Bank Boards Can Support the Implementation of AI | Bank Director
Episode 148
The Lords of Easy Money Part 20
In this episode we continue to review the book The Lords of Easy Money by Christopher Leonard. This book is about the Federal Reserve’s actions from 2008-2021. The author provides the reader a behind the scenes view on the discussions inside the Fed and ultimately, we see how their eventual actions played out in the larger economy. Did the Fed save the day or permanently destroy our economy? In this episode we review Part 3 (Chapters 13-16). This is a multi-part series.
If you would prefer the “quick” review of the book, see episodes 8 (Review Part I) and 15 (Review Part II).
Episode 149
The Lords of Easy Money Part 21
In this last episode of the series, we look at what has transpired from the end of the book in 2021 to today. I pose the question one more time, did the Fed save the day or permanently destroy our economy? What do you think?
Episode 150
Do the 5 C’s of credit still matter?
This episode looks at a recent blog post by Ken Summar from Jack Henry titled “Do the 5 C’s of credit still matter?” The blog article explains the 5 C’s of credit, how technology may be affecting or influencing them, and proposes some additional C’s that should be considered. A link to the article is below.
Link – Do the 5 C’s of Credit Still Matter? | FinTalk (jackhenry.com)
Episode 151
What is happening with office-upfit costs?
This episode looks at a recent article by Ashley Fahey from The Business Journals titled “Office-upfit costs continue to rise but have leveled off from inflation spikes.” The article examines the cost of office fit out expenses across the U.S. The article further explains that landlord tenant-improvement allowances are shifting. A link to the article is below. Link – Office-upfit costs rise amid amenities, flexible workspaces, technology – Philadelphia Business Journal (bizjournals.com)
Episode 152
What does a good board of directors look like?
This episode looks at several BID Daily Newsletters from PCBB around bank boards. The first newsletter considers what constitutes a good board of directors. The second newsletter considers age restrictions around board members. A link to both newsletters is below.
Link – The Makings of a Successful Board of Directors (pcbb.com)
Link – The Changing State of Board Age Restrictions (pcbb.com)
Episode 153
What is happening with banks in Europe?
This episode looks at several articles detailing certain actions currently being undertaken by banks in the U.K. and Europe. Investors are expecting a surge in bad commercial real estate loans at European banks. U.K. banks expect to hike loan loss provisions in the coming years and German banks are seeking to curtail potential losses from U.S. commercial real estate.
Episode 154
Banking Update 6-2-2024
This episode provides a weekly update on U.S. banking industry news.
Episode 155
Fed holds interest rates steady
This episode examines the Federal Reserve’s decision to hold interest rates steady the week of June 10-14th. There is now a 58% chance the Fed with reduce interest rates by 25bps at the September meeting. The Fed is only allowing for one interest rate reduction in 2024 and several more for 2025.
Episode 156
Banking Update 6-16-2024
This episode provides a weekly update on U.S. banking industry news.
Episode 157
Is Synapse bankruptcy going to destroy the BaaS model?
This episode examines the bankruptcy filing of Synapse and the ensuing disruption it has caused to its partner financial institutions. Currently, $85 million in customer money for over 100,000 customers is missing. The bankruptcy court judge is not sure what the court can do as this is “uncharted territory.” Synapse has laid off all its employees and pointed responsibility back to its financial partners. However, the financial institutions don’t have the customers’ funds and are claiming that Synapse misappropriated them. Perhaps more importantly, regulators are taking a hard look at third-party vendor relationships and the BaaS model.
Episode 158
FDIC state profile, great data tool!
This episode examines the FDIC’s state profile report. This is a 1-page report that is issued by the FDIC on a quarterly basis. Very useful for doing quick bench marking against other banks in your state. It has a nice breakdown between economic indicators, banking trends, and banking profile.
Link: FDIC: State Profiles
Episode 159
Saudi Arabia ends petrodollar pact after 50 years!
This episode examines the potential ramifications to the U.S. dollar’s dominance as the world reserve currency if the U.S. pact with Saudi Arabia, known as the petrodollar, comes to an end. There was a surprisingly minimal amount of news this week about Saudi Arabia not renewing the pact. The BRICS nations have a plan to move away from the U.S. dollar and getting Saudi Arabia to use their currencies is major step in that direction.
Links: Episode 5: BRICS:
Podbean – https://joeberq.podbean.com/e/episode-5-brics/,
Rumble – https://rumble.com/v3cdgro-episode-5-brics.html?mref=14elvh&mc=5en37,
YouTube – https://youtu.be/ZooGp4CHrKE
Episode 160
SBA EIDL loans are a mess!
This episode looks at the current state of SBA’s EIDL loans. The amount of charge offs for EIDL loans exploded to $52 billion in 2023. The SBA has stated that about 1.3 million EIDL loans are either past due, delinquent, in liquidation, or charged off. The SBA made a total of 4.1 million EIDL loans over a 3-year period. The SBA now finds itself in a new position as the main creditor of these loans.
Episode 161
Managing attrition in checking accounts
This episode examines an article from Bank Director titled “Give them a reason to stay: The importance of managing attrition” by Achim Griesel and Sean Payant. The article looks at the attrition rate in bank consumer and business checking accounts. Possible solutions are offered for what banks can do to make sure they are reducing attrition rates and continuing to build with organic growth. A link to the article is listed below.
Link: Give Them a Reason to Stay: The Importance of Managing Attrition | Bank Director
Episode 162
What challenges does CRE growth bring to your loan portfolio?
This episode examines an article from Bank Director titled “CRE growth brings added challenges” by David Ruffin. The article considers challenges that arise when a bank increases its commercial real estate portfolio, such as concentration risk and loan loss reserve ratio. The article goes on to recommend multiple ways to address these issues. A link to the article is listed below.
Link: CRE Growth Brings Added Challenges | Bank Director
Episode 163
Japan’s Norinchukin Bank dumps U.S. government bonds!
This episode looks at the major decision this week from Japan’s Norinchukin Bank to dump $63 billion of low-yielding U.S. and European government bonds due to major losses in its bond portfolio. Norinchukin is the 5th largest bank in Japan with $357 billion in assets. The banks decision to sell its bonds also coincides with the Japanese governments current action in reducing government bond purchases due to the higher-for-longer interest rate environment. A link to the article from Yahoo Finance is included below.
Link: Japan’s Century-Old Bank Sends Warning to World on Higher-for-Longer Rates (yahoo.com)
Episode 164
Update on U.S. bank bond portfolios
This episode provides an update on the current situation of unrealized losses in bank bond portfolios. Several articles are reviewed, which address available-for-sale (AFS) securities, held-to-maturity (HTM) securities, accumulated other comprehensive income (AOCI), and adjusted tangible common equity (TCE). The current situation is not great, and banks are beginning to consider alternative strategies such as sale leaseback transactions on their existing branches to cover the losses sustained from the sale of underwater securities.
Episode 165
2024 midyear review of U.S. bank M&A market
This episode looks at the U.S. bank merger and acquisition market for the first half of 2024. The market is very tepid through the first six months of the year as bond portfolios, regulation, higher-for-longer interest rates, higher funding costs, CRE portfolio worries, and the Presidential election cycle weigh on potential transactions. Several articles are examines reviewing global M&A, U.S. bank M&A transactions, and a spotlight on the M&A activity in the state of Georgia.
Episode 166
Banking Update 6-23-2024
This episode provides a weekly update on U.S. banking industry news.
Episode 167
Conversation with Allan Burkley
This episode is a conversation with Allan Burkley about various banking topics that include fed holding interest rates steady, Saudi Arabia and the petrodollar, the effect on the treasury market, Synapse bankruptcy, Open Banking, BOI update, and the cultural issues at the FDIC. This is the second conversation with Allan. A link to our first meeting is below.
Link: Episode 124: Conversation with Allan Burkley. Podbean: https://joeberq.podbean.com/e/episode-124-conversation-with-allan-burkley/,
Rumble: https://rumble.com/v4ta1sk-episode-124-conversation-with-allan-burkley.html,
YouTube: https://youtu.be/-POJCS-aY00
Episode 168
Review of 2024 Compensation & Talent Survey
article titled “Compensation & Talent Survey: Developing Leadership Potential” by Laura Alix. Second, we review the key findings of the survey. Links to both are below.
Link: Compensation & Talent Survey: Developing Leadership Potential | Bank Director
Link: 2024CompensationReport-Open-final.pdf (bankdirector.com)
Episode 169
Banks still relying on high-rate CDs
This episode examines an article from S&P Global titled “Depositories banking on rate cuts, but growing number marketing high-rate CDs” by Thomas Mason. The article details how banks and credit unions are positioning themselves for rate cuts from the Fed by favoring short-term deposit products. The main ones being premium money market accounts and 6-to-12-month CDs. APY’s on these products peaked in the 4th quarter of 2023 at 5% and have settled into the 4% range.
Episode 170
Banking Update 6-30-2024
This episode provides a weekly update on U.S. banking industry news.
Episode 171
Banking Update 7-7-2024
This episode provides a weekly update on U.S. banking industry news.
Episode 172
Was the SCOTUS ruling on Chevron good or bad for banks?
This episode looks at the ruling handed down by the U.S. Supreme Court on a case known as “Chevron deference.” This ruling will reduce the ability of Federal agencies and Federal regulators to interpret laws as they see fit. What does this mean for the banking industry? Is this a good thing or a bad thing?
Episode 173
FedNow is turning 1, how is it going?
This episode looks at the FedNow service as it approaches 1 year in operation. We review an article by Nick Denning titled “The FedNow Service is turning 1, what comes next?” We also take a look at the FedNow website and the FedNow instant payments website. Links to all three are below.
Link: The FedNow Service is Turning 1, What Comes Next? (icba.org)
Link: FedNow Service (frbservices.org)
Link: Find Learning and Resources With FedNow Explorer
Episode 174
Why are banks dumping their insurance units?
This episode looks at an article from Bank Director written by Lucas Parris titled “Is it time to eat the golden goose and sell your insurance business?” This article examines why banks are selling their insurance units. A link to the article is below.
Link: Is It Time to Eat the Golden Goose and Sell Your Insurance Business? | Bank Director
Episode 175
What is happening with pharmacies?
This episode looks at the recent problems with Walgreens, CVS, and Rite aid. All three companies are struggling financially and closing a large number of retail stores. Did the pharmacies problems start recently or does the genesis of these problems go back to the Affordable Care Act (Obamacare)? If the closing of these stores creates “pharmacy deserts,” what then for consumers?
Episode 176
40 banks “disappeared” in China!!!
This episode examines the “disappearance” of 40 banks this week in China. The Chinese economy has been reeling in recent years due to a massive real estate bubble. This week the existing debt problems seem to be coming to a head. 40 banks failed and another 3,800 have been identified as being in serious trouble. If the Chinese economy collapses in the next year, this can have major ramifications for the global economy and geo-politics.
Link: China’s banking turmoil: 40 banks vanish, Jiangxi leads collapse (msn.com)
Episode 177
Banking Update 7-14-2024
This episode provides a weekly update on U.S. banking industry news.
Episode 178
How to survive a Wiperware Cyberattack!
This episode looks at a recent blog post from PCBB titled “Key takeaways from a Wiperware Cyberattack Simulation.” NACHA and GRF recently hosted two exercises in April and May of 2024 using the Operational Resilience Framework to test the operational resilience of financial institutions from a Wiperware attack. Recommendations include tips for recovering after a Wiperware attack and best practices for protecting against such an attack. Links to the PCBB blog post and the Operational Resilience Framework are attached below.
Link: Key Takeaways from a Wiperware Cyberattack Simulation (pcbb.com)
Link: Enhancing_Operational_Resilience_for_ACH_Network_Participants_FINAL.pdf (nacha.org)
Episode 179
What is the new Paze digital wallet?
This episode explains what the new Paze digital wallet is. This new app is aiming to compete with PayPal and Apple Pay. Paze has been developed and will be operated by bank-owned financial technology company Early Warning Services, LLC, which also operates the Zelle app. Early Warning Services, LLC is owned by JP Morgan Chase & Co, Bank of America Corp, Capital One Financial Corp, PNC Financial Services Group, Truist Financial Corp, U.S. Bancorp, and Wells Fargo & Co.
Episode 180
Mid-year economic outlook for 2024
This episode looks at a recent blog post from PCBB titled “Are we there yet?”: The saga of the economy so far in 2024.” This blog post provides an overview of consumer & business sentiment, an economic overview, the banking landscape, and housing trends. A link to the PCBB blog post is attached below.
Link: “Are We There Yet?”: The Saga of the Economy So Far in 2024 (pcbb.com)
Episode 181
Interview with Chad Hull from Janney
This episode is an interview with Investment Banker Chad Hull from Janney. We discussed his role as an investment banker, his career, the history of Janney and the company’s products. We get into the current bank merger and acquisition environment. As always, we get into his favorite business book and business related movie. If you would like to learn more about Janney, a link to the company’s website is listed below.
Link: Janney Montgomery Scott | Beyond Investing – Connecting
Episode 182
CrowdStrike cybersecurity debacle!
This episode examines the major cyber outage that affected companies across the globe on Friday, July 19, 2024. A software update from a company called CrowdStrike, which pushed its update through Microsoft Windows caused networks and devices to go down as users saw “the blue screen of death.” CrowdStrike and Microsoft have found a fix for the problem, but it is cumbersome and can lead to additional vulnerabilities. Links to multiple articles are included below.
Link: The CrowdStrike fail and next global IT meltdown already in the making (cnbc.com)
Link: What Is CrowdStrike and How Did Its Update Cause a Global Tech Outage? (investopedia.com)
Links: Episode 178: How to survive a Wiperware Cyberattack!
Episode 183
Update on Synapse failure
This episode looks at the fallout for Evolve Bank & Trust from the Synapse Financial Technologies, Inc. bankruptcy and a recent cybersecurity attack. Regulators are starting to weigh in. What does this mean for the banking as a service model? What does this mean for fintech’s working with banks?
Links: Episode 157: Is Synapse bankruptcy going to destroy the BaaS model?
YouTube – https://youtu.be/PZUB7YK2JBY,
Rumble – https://rumble.com/v51ou5i-episode-157-is-synapse-bankruptcy-going-to-destroy-the-baas-model.html
Episode 184
Banking Update 7-21-2024
This episode provides a weekly update on U.S. banking industry news.
Episode 185
Interview with commercial banker Owen LaFave
This episode is an interview with Pinellas County Market President at Bank of Tampa Owen LaFave. We discuss Owen’s career, the Bank of Tampa, current market conditions, the commercial real estate market, and what might occur over the next year. As always, we go over Owen’s favorite book and business-related movie. A link to the Bank of Tampa’s website and Owen’s podcast, Money Market Podcast, are included below.
Link: https://www.bankoftampa.com/
Link: https://moneymarketpodcast.com/
Episode 186
Why are banks struggling to find compliance officers?
This episode examines a recent article in bank director titled “Banks are struggling to find compliance officers” by Paul Davis. Compliance is considered one of the hardest jobs in the banking industry and it appears to be getting harder. This article looks at the demands of the role and how to best fill positions.
Link: Banks Are Struggling to Find Compliance Officers | Bank Director
Episode 187
Have all the buyers in banking disappeared?
This episode examines a recent article in bank director titled “Where have all the buyers gone?” by John Engen. Banks that are interested in selling in the current environment are finding it difficult. This article states that selling a bank is like selling a house. You have fewer, pickier buyers, and you must consider what compromises and concessions to make. Is the current market a trend or a mirage? A link to the article is included below.
Link: Where Have All the Buyers Gone? | Bank Director
Episode 188
How is “higher-for-longer” affecting bank margins?
This episode examines a research article from S&P Global Market Intelligence titled “Higher-for-longer” rates keep bank margins, commercial real estate in spotlight. What are industry trends for Net Interest Margin compression? Are deposits growing? CDs are maturing soon, what does that mean? Will deposit costs remain sticky?
Episode 189
How are things in private equity?
This episode looks at how things are going in the global private equity market. How are deal values so far in 2024? How are exit values looking in 2024? How much dry powder is in the market? We looked at several articles from S&P Global Market Intelligence.
Episode 190
Banking Update 7-28-2024
This episode provides a weekly update on U.S. banking industry news.
Episode 191
What does generative AI mean for the future of banking?
This episode examines the potential benefits of generative AI for the banking industry. We discussed several articles, examined the emerging technology maturity curve, and talked about several books including Dark Aeon, The Singularity is Nearer, and Rewired.
Episode 192
Documentary Review: How to Rob a Bank
This episode is a review of the Netflix documentary How to Rob a Bank. This documentary focuses on a bank robber nicknamed “Hollywood,” that robbed 19 banks in Seattle during the 1990’s. How did this bank robber evade the police for 4 years? Did he have help? What new technology and procedures ultimately led to his downfall?
Episode 193
Book Review: The War on Cash
This episode is a review of the book The War on Cash by David McRee. This book covers a lot of territory, everything from a cashless society to theft by inflation, civil asset forfeiture, the IRS, shadow banking, and The Patriot Act. It is a very interesting read and makes you think about the purpose of cash in a free society. The point of the book is clear, NEVER EVER GIVE UP YOUR CASH!
Episode 194
July 2024 jobs report, OH MY!
This episode examines the July 2024 jobs report and what effects it is having on the overall economy and stock market. What do the numbers project for the rest of the year? Below are links to a related CNBC article, WSJ article, Bureau of Labor Statistics data, and FRED data.
Link: July Jobs Report: How Markets Are Reacting, in Five Charts (wsj.com)
Link: Bureau of Labor Statistics Data (bls.gov)
Link to Episode 62: Disaster in the jobs report! https://youtu.be/apYngDt8QQM
Episode 195
Banking Update 8-4-2024
This episode provides a weekly update on U.S. banking industry news.
Episode 196
Japan Meltdown!
This episode examines the meltdown in Japan’s stock market, which started on Sunday, August 4th. What is the YEN carry trade? Why did the Bank of Japan raise interest rates? Did the Federal Reserve play a role in this? And what is up with Warren Buffet? A link to related Episode 163 is below.
Episode 163: Japan’s Norinchukin Bank dumps U.S. government bonds!
Episode 197
How to handle a superstar employee?
This episode reviews an article from The Wall Street Journal titled “Are Superstar Employees Worth It?” by Matthew Call. This article looks at the effects of having a superstar employee and how that can be a good and bad thing. What do you have to do to acquire and retain these talented people? Is the price worth it? Can these employees be a long-term benefit? A link to the article is below.
Link: How the Value of High-Performing Employees Evolves Over Time – WSJ
Episode 198
Update on banks stocks
This episode reviews a series of articles from July through August of 2024 to check in on how banks stocks are performing. Bank stocks continue to be impacted by commercial real estate loans and portfolio concentrations, compressing net interest income, regulatory burden, presidential election cycle, mixed earnings between the big 4 and regional banks, and enthusiasm over AI. Bank stocks are up on the year but had a rough couple of weeks. The hope right now is that rate cuts will help the industry and ignite an increase in M&A activity toward the end of the year.
Episode 199
Banks continue to reduce CRE exposure
This episode reviews an article from bank director titled “Banks start to take their lumps to address CRE exposure” by Paul Davis and an article from S&P Global Market Intelligence titled “Many top office lenders continue to dial back exposure” by Claire Lawson and Robert Clark. These articles highlight how banks are still struggling with commercial real estate concerns and how they are addressing those concerns by reducing overall exposure.
Link: Banks Start to Take Their Lumps to Address CRE Exposure | Bank Director
Episode 200
Check fraud is a BIG problem!
This episode reviews an article from the ABA banking journal titled “Is it time to kill the paper check?” by Evan Sparks and an article from The Business Journals titled “Big brands are ditching paper checks. Small-business owners might not be able to do the same” by Andy Medici. These articles detail the current usage of checks in the banking system and why fraud with bank checks is so prevalent. Is it time to replace paper checks? Are the alternatives really that great? Is getting rid of checks even feasible? Links to both articles are included below.
Link: Is it time to kill the paper check? | ABA Banking Journal
Episode 201
Is the FDIC proposal on brokered deposits a problem?
This episode reviews several articles from S&P Global Market Intelligence. The first article titled “FDIC proposal would classify more BaaS deposits as brokered, not core.” The second article is titled “US elections have potential to reshape fintech regulatory landscape.” Both articles were written by Yizhu Wang. The first article addresses the proposed rule from the FDIC that would end a BaaS practice that allows banks to count deposits originated by fintech partners as core and require them to classify the funds as brokered. The second article points out how the outcome of this year’s Presidential election can have massive consequences on the regulatory landscape particularly regarding fintech companies.
Episode 202
How can small banks level the playing field?
This episode reviews an article from Bank Director titled “Three ways smaller banks are leveling the playing field” by Cetin Duransoy. This article lays out three ways that smaller banks and credit unions can effectively compete against the industry behemoths. The three potential solutions include 1) highlight their impact to build consumer confidence, 2) Solutions to combat high compliance and cybersecurity costs, and 3) agility in pricing.
Link: Three Ways Smaller Banks Are Leveling the Playing Field | Bank Director
Episode 203
What is happening in the U.S. labor market?
This episode reviews four articles to get a better understanding of the current U.S. labor market. Is there a white-collar job squeeze? Are half the U.S. online job postings fake? What is the new normal for pay raises? Are the lowest-paid workers the hardest hit as unemployment rises? These are some of the questions we try to address. Links to the articles are included below.
Link: The White-Collar Job Squeeze | The Epoch Times
Link: Why Nearly Half of US Online Job Postings Are Fake | The Epoch Times
Episode 204
Review of Bank Director 2024 Governance Best Practice Survey
This episode reviews Bank Director’s 2024 Governance Best Practices Survey and a related Bank Director article titled “2024 Governance Best Practices Survey: Exercising Independence” by Emily McCormick. This annual survey examines board responsibilities, risk oversight, composition, engagement and governance practices. The question is asked can a dominant CEO or board member have a negative impact on their bank? A link to the article and survey are included below.
Link: 2024 Governance Best Practices Survey: Exercising Independence | Bank Director
Link: 2024GovernanceReport-Open-Version.pdf (bankdirector.com)
Episode 205
FHFA’s new credit scoring requirements
This episode reviews an article from ICBA titled “Ron Haynie & Tim Roy: Deciphering FHFA’s Credit Score Transition.” The Federal Housing Finance Agency (FHFA) has issued new credit scoring requirements for Fannie Mae and Freddie Mac by transitioning from the classic FICO to the FICO Score 10 T and VantageScore 4.0 credit scoring models. Is this a good or bad change? How will this affect you as a consumer trying to get a residential mortgage? A link to the article is included below.
Link: Ron Haynie & Tim Roy: Deciphering FHFA’s Credit Score Transition (independentbanker.org)
Episode 206
What is The Jackson Hole Economic Symposium?
This episode looks at The Jackson Hole Economic Symposium that takes place every year in August in Jackson Hole, Wyoming by the mountains of Grand Teton National Park. This year’s symposium will take place between Thursday, August 22nd and Saturday, August 24th. For over 50 years, The Jackson Hole Economic Symposium has been a major gathering for Federal Reserve officials, economists, academics, and policy makers from around the world. Market watchers always pay close attention to this conference to see what the Federal Reserve is planning for future meetings and monetary policy. What is expected this year? A link to the featured articles is included below.
Link: The Jackson Hole Economic Symposium Starts This Week—Here’s What You Need to Know (investopedia.com)
Episode 207
U.S. Treasury is manipulating interest rates!
This episode looks at The Jackson Hole Economic Symposium that takes place every year in August in Jackson Hole, Wyoming by the mountains of Grand Teton National Park. This year’s symposium will take place between Thursday, August 22nd and Saturday, August 24th. For over 50 years, The Jackson Hole Economic Symposium has been a major gathering for Federal Reserve officials, economists, academics, and policy makers from around the world. Market watchers always pay close attention to this conference to see what the Federal Reserve is planning for future meetings and monetary policy. What is expected this year? A link to the featured articles is included below.
Link: Kelly Evans: Is Treasury manipulating interest rates? (cnbc.com)
Link: 635102_Activist_Treasury_Issuance_-_Hudson_Bay_Capital_Research.pdf (hudsonbaycapital.com)
Episode 208
Its official, BLS cooking the jobs numbers!
This episode looks at the stunning revisions this week in reported employment numbers from the Bureau of Labor Statistics (BLS). This was the largest downward revision in 15 years! And one of the largest downward revisions in history at over 800,000 jobs! This report confirms what some have been suspecting for the last 18 months, that BLS has been manipulating the employment data to make the labor force appear stronger than it actual is. Several recent articles are reviewed from Bloomberg, The Wall Street Journal, and CNBC. Links to all three are included below.
Link: Fed Confronts Up to a Million US Jobs Vanishing in Revision – Bloomberg
Link: Jobs Report Revision: U.S. Job Growth Weaker Than Initially Reported, Data Show – WSJ
Link: Nonfarm payroll growth revised down by 818,000, Labor Department says (cnbc.com)
Episode 209
Commercial Real Estate Update
This episode provides an update on the commercial real estate market. Five articles are examined from S&P Global Market Intelligence (subscription required), Bank Director, and PCBB. Topics covered include should banks prepare for potential losses, precautionary measures that banks can take, community bank earnings tested but not crushed by CRE, German bank assets being impacted by U.S. CRE, and the coming CRE maturity wall. Links to the Bank Director and PCBB articles are included below.
Link: Rising CRE Risks Loom Within the Banking Industry (pcbb.com)
Link: Bracing for a CRE Backlash | Bank Director
Episode 210
Interview with Mark Ritter, CEO of MBFS
This episode is an interview with Mark Ritter who is the CEO of Member Business Financial Services (MBFS). MBFS provides support services to Credit Unions such as underwriting, documentation, loan servicing, and SBA loan support. MBFS is considered a “CUSO,” which is a Credit Union Service Organization, meaning that the business entity is owned by credit unions and primarily serves credit unions or members of the CUSO owners or clients. Links to MBFS and Mark’s websites are included below.
Link: https://www.mbfs.org/
Link: https://markritter.com/
Episode 211
Let’s check in on CEO salaries!
This episode looks at 2023 CEO pay for banks, financial services, and S&P 500 companies. Jamie Dimon remains in the top spot for banks, but who takes the top spot for financial services and S&P 500 companies? Are CEOs paid too much?
Episode 212
How is the Chinese property market effecting their banks?
This episode examines the current state of the Chinese real estate market. Has a deterioration in property values caused problems for their banks? How is the Chinese government dealing with the issue? Can we trust the numbers coming out of China?
Episode 213
What are Chinese and Japanese Megabanks doing?
This episode examines recent actions and polices with China and Japan’s megabanks as they both struggle with different issues. China has a major real estate problem, and a surging Yen could threaten profits for Japanese banks. China and Japan are the two largest purchasers of U.S. debt, so we must keep an eye on their economies.
Episode 214
How do banks feel about loan growth?
This episode examines the potential for loan growth right now at U.S. banks. We look at the Federal Reserve Senior Loan Officer Survey for July 2024, an article from Bank Director, an Article from S&P Global, and an article from The Business Journals. Banks are not feeling that great about loan growth in the short-term and have tightened up lending standard but feel that demand will improve over the next year as the Fed decreases interest rates. Links to the articles are included below.
Link: More Banks Are Reporting Slowing Loan Growth, Raising Risk Concerns for Directors | Bank Director
Episode 215
Customers Bank hit with enforcement action over crypto! (Crypto Series Part IX)
This episode examines recent enforcement actions taken against Customers Bank by the Federal Reserve Bank of Philadelphia for their involvement with cryptocurrency and / or digital assets. The Federal Reserve Bank of Philadelphia found that Customers Bank had deficiencies in their risk management program as it related to BSA and AML compliance. Customers Bank is now under a written agreement and must submit to an independent third-party review of their digital assets business.
Episode 216
What is the discount window and how do banks get access?
This episode examines the discount window and answers how banks get access to it? The discount window is a lending facility, which works like a line of credit, that is open to all financial institutions. The main users of the discount window have historically been the “money center banks,” which are made up of the 25 largest banks in the U.S. Most of the smaller banks in the U.S. do not utilize the discount window due to the stigma related to it. We go over the five steps a bank would take to access the discount window. Links to the articles reviewed are included below.
Link: Five Steps to Discount Window Borrowing (communitybankingconnections.org)
Link: What Is a Discount Window? Why and How Do Banks Use It? (investopedia.com)
Link: Money Center Banks: Meaning, Overview, Role in Economy (investopedia.com)
Episode 217
P2P payment fraud, what you need to know!
This episode examines peer-to-peer (P2P) payment fraud. The amount of this fraud has skyrocketed over the last few years and is projected to increase in the years ahead. We look at common P2P scams, actions you can take to try and prevent this type of fraud, and we see what a new industry group is doing to try and combat these types of fraud. Links to the articles are included below.
Link: P2P Payment Fraud Is on the Rise: How To Combat It (pcbb.com)
Episode 218
Review of FDIC Quarterly Banking Profile for 2Q 2024
This episode examines the FDIC’s Quarterly Banking Profile for the second quarter of 2024. How are community banks performing? A link to the current report and a previous episode covering the fourth quarter of 2023 are included below.
Link: FDIC Quarterly Banking Profile – Second Quarter 2024
Previous Episode Link: Episode 86: Review of FDIC Quarterly Banking Profile (Q4 2023)
Episode 219
Review of Bank Director 2024 Ranking Banking Report
This episode reviews Bank Director’s 2024 Ranking Banking Report. The report ranks the largest 300 publicly traded banks by performance. They also rank the top 25 banks by each asset size category – less than $5 billion, $5 billion to $50 billion, and $50 billion and above. Let’s see who made the cut! Links to a Bank Director article and the report are included below.
Link: 2024 RankingBanking Report: Small Players Dominate the Best Banks List | Bank Director
Link: RankingBanking 24 Digital (1) – Flipbook – Page 1 (paperturn-view.com)
Episode 220
Do you know how heavily your state is regulated?
This episode examines a report from The George Mason University Mercatus Center titled “Quantifying Regulation in US states with State RegData 2.0” by James Broughel and Patrick McLaughlin. The authors try to answer the question, how regulated is your state? A link to the study is included below.
Link: Quantifying Regulation in US States with State RegData 2.0 | Mercatus Center
Episode 221
How will AI be adopted into analyzing credit risk?
This episode looks at how AI can be incorporated into analyzing credit risk within a bank. Many banking professionals in charge of credit risk at their respective financial institutions would like to see how AI can be used in client engagement, credit decision and underwriting, portfolio monitoring, and customer assistance. A link to the PCBB BID daily newsletter blog is included below.
Link: Survey: Credit Risk Leaders Plan Rapid AI Adoption (pcbb.com)
Episode 222
Can trademarks in banking hurt your financial institution?
This episode examines a study from the Federal Reserve titled “Trademarks in Banking” by Ryuichiro Izumi, Antonis Kotidis, and Paul E. Soto. The researchers found that banks that share their name with a failed bank experience a decrease in transaction deposits relative to banks with similar characteristics but different names. In other words, if you have two banks named “Citizens Bank” but one fails, that will be detrimental to the remaining bank. Guilt by association, if you will. A link to the study is included below.
Link: Trademarks in Banking (federalreserve.gov)
Episode 223
The rise of Tether! (Crypto Series Part X)
This episode examines the growth of the stablecoin Tether. We also look at what is a stablecoin. How Tether works and how Tether is different from TerraUSD, which failed in 2022. Links to several articles and sources are listed below.
Link: Tether: The Cryptocurrency Fueling the Financial Underworld – WSJ
Link: Tether (USDT): Meaning and Uses for Tethering Crypto (investopedia.com)
Link: TerraUSD Crash Shows Risks of Algorithmic Stablecoins (investopedia.com)
Link: Is Stablecoin the Answer to All Cryptocurrency Problems? (investopedia.com)
Episode 224
What do small businesses want from their bank?
This episode reviews a recent blog post from PCBB titled “What do small businesses really want from their FI?” A recent survey from BAI of small business customers is reviewed to see their comments on primacy, bank switching, channel preference, branch proximity, improving digital capabilities, and generative AI. What is real and what is perceived about banks digital capabilities, branches, and services?
Link: What Do Small Businesses Really Want From Their FI? (pcbb.com)
Episode 225
How can your bank improve digital lending?
This episode reviews a recent blog post form PCBB titled “5 tips to improve your digital lending efforts.” PCBB reviewed the Digital Banking Report 2024 on the state of digital lending in banks. Some of the key findings reviewed: types of credit that can be initiated online vs mobile, the end-to-end digital process, branch visits, time to complete an application, and restarting an interrupted application. In addition, PCBB provides 5 tips on ways that banks can improve their digital lending experience. Links to the blog post and the 2024 State of Digital Lending report are included below.
Link: 5 Tips To Improve Your Digital Lending Efforts (pcbb.com)
Link: 2024 State of Digital Lending – Digital Banking Report
Episode 226
Basel III Endgame Update!
This episode looks at multiple articles providing an update on the proposed legislation known as the Basel III Endgame. This legislation is looking to dramatically increase the amount of capital being held at the largest financial institutions, not only in the U.S. but in the U.K. and Europe. The legislation was introduced in July of 2023 and received major backlash from banks, trade groups, and politicians. The new proposal appears to be a major compromise. Will this get approved in Congress and when?
Episode 227
Is the Fed’s 2% inflation target a good mandate?
This episode examines the Fed’s 2% inflation target. First, does it make sense as a good target? Second, is it good or bad that the Fed is going to decrease rates? Third, why is the Fed always praised for fixing the problems they create?
Episode 228
What should bank board members be reading?
This episode looks at eight different books that bank board members should be reading. If you are thinking about joining a bank board, have recently joined a bank board, or even if you are a veteran board member, you should check out this list!
Episode 229
Interview with SBA lender Paul Avery
This episode is an interview with Paul Avery, who is an SVP SBA lender with Meridian Bank. Paul and I go through the various SBA loan programs. We discussed 504 loans, 7(a), Express, Export, and Microloans. We spent some time discussing the ins and outs of the 7(a) loan. Namely, how long is the process, what documents are required, can closing costs be rolled in, what approvals are needed from the bank and SBA, and why an attorney is typically used for preparing loan documents and caring out the settlement. Below is a link to a chart covering all the SBA loan programs.
Link: North_Carolina_Loan_Chart_10-2019-Final.pdf (sba.gov)
Episode 230
SBA Update
This episode provides an update on the Small Business Administration (SBA) and the programs it offers. The SBA has rolled out a new 7(a) Working Capital Pilot Program, which is a line of credit up to $5 million. The SBA is seeking out new lenders to work with in an attempt to expand access to their various loan programs. Finally, borrowers that utilized the SBA EIDL loan program continue to struggle with their debt loads.
Link: The SBA’s New Working Capital Pilot Program Launches Today (pcbb.com)
Link: SBA to issue more Small Business Lending Co. licenses – The Business Journals (bizjournals.com)
Episode 231
How did Fannie Mae and Freddie Mac end up in conservatorship?
This episode focuses on the history of Fannie Mae and Freddie Mac. How did these organizations start and evolve over the years? What scandals were they involved in before the financial crisis? What was their role during the financial crisis of 2007-2009? What are the arguments for and against privatization? Finally, what is happening now?
Link: Fannie Mae and Freddie Mac: An Overview (investopedia.com)
Episode 232
Let’s talk about ‘buy now, pay later’ products!
This episode examines a recently published Frequently Asked Questions (FAQ) report from the Consumer Financial Protection Bureau (CFPB) on ‘Buy Now, Pay Later’ products. The FAQ provides a general overview of BNPL and explains ‘Pay-in-Four’ BNPL loans. A link to the FAQ on the CFPB website is included below.
Link: Buy Now, Pay Later Product FAQs | Consumer Financial Protection Bureau (consumerfinance.gov)
Episode 233
U.S. banks looking to lower CD rates!
This episode examines several articles from S&P Global (subscription required) looking at recent growth in bank deposits and banks interest in lowering CD rates as the Fed has moved into an interest rate reduction cycle. Banks would like to quickly reduce CD rates to lower their cost of funds. However, will consumers go along with this?
Episode 234
Review of Bank Director’s 2024 Technology Survey
This episode reviews Bank Director’s 2024 Technology Survey. The key findings include delayed projects, fraud concerns, tech budget increases, hiring developers, and board priorities. This is a great survey for understanding how banks are utilizing technology in the industry and what challenges they are currently facing. A link to the Bank Director article and 2024 technology survey are included below.
Link: 2024 Technology Survey: Envisioning Your Bank’s Future | Bank Director
Link: 2024TechReport-OpenVersion-v2.pdf (bankdirector.com)
Episode 235
Interview with commercial insurance provider Ryan Stillwell
This episode is an interview with Ryan Stillwell, owner of Stillwell Risk Partners. Ryan is a commercial insurance provider. Stillwell Risk Partners specializes in providing business and commercial property insurance. The focus of the interview is on commercial real estate coverage. We discuss different property types, what is happening in the marketplace, what you should expect, things you should consider when evaluating different properties, and how you can better cover loss and flood risk. A link to Stillwell Risk Partners website is included below.
Link: Professional Insurance Advisors | Stillwell Risk Partners
Episode 236
Let’s talk about deposit strategy!
This episode reviews a recent blog post from PCBB titled “Are deposit costs finally easing?” With interest rates reducing, this blog post offers five strategies banks should be considering for managing their deposits in this challenging environment. Every bank should be thinking about these deposit strategies. A link to the blog post is included below.
Link: Are Deposit Costs Finally Easing? (pcbb.com)
Episode 237
The 2Q 2024 GDP number was WHAT?
This episode reviews a recent article from Zero Hedge titled “Mystery of upward GDP revision solved: You are all $500 billion richer now according to a revised Biden admin spreadsheet.” The article highlights how the 2Q 2024 GDP numbers were “adjusted” for a more positive result. The GDP numbers are being manipulated just like the unemployment numbers. A link to the Zero Hedge article is included below.
Episode 238
What is up with men not in the work force?
This episode examines a recent article in CNBC titled “More men in their prime working years are neither working nor looking for jobs – here’s why.” We also looking at multiple charts from the St. Louis Federal Reserve Fred for unemployment, unemployment (education), and labor force participation for men. Right now, we have a disturbing economic picture of millions of men in their prime working years that are not currently in the labor market. This will become a major problem. A link to the CNBC article is included below.
Link: Why more men are dropping out of the workforce (cnbc.com)
Episode 239
Learning agility and navigating a crisis!
This episode looks at a recent article in Bank Director titled “How Western Alliance and its board navigated a crisis.” This is a good example of how a bank board of directors can work with their senior management team in a time of major crisis. Furthermore, we examine the concept of ‘learning agility.’ A link to the Bank Director article is included below.
Link: How Western Alliance and Its Board Navigated a Crisis | Bank Director
Episode 240
Interview with crisis management expert Stephanie Craig
This episode is an interview with Stephanie Craig, who is President of Kith. Stephanie has built her reputation as a crisis expert by guiding some of the world’s most prominent people and organizations through their most trying moments. Kith is an elite crisis preparation, response and recovery firm focused on one thing: your reputation. Stephanie and I discuss crisis management and things bank management should consider when doing business continuity and disaster recovery planning. A link to Kith’s website is included below.
Episode 241
Discussion with DelphX CEO, Patrick Wood, on Credit Rating Security (CRS)
This episode is an interview with Patrick Wood, who is CEO of DelphX Capital Markets. Patrick and I discussed his company’s specialty in the bond market. He introduces the company’s new product called Credit Rating Security (CRS). This product shields insurance companies from credit rating downgrades while enhancing return potential. Patrick and I also discussed his career, Bernard Baruch, and the movie Margin Call. A link to DelphX Capital Markets website is included below.
Link: Home – Building a better credit market through risk-diffusion (delphx.com)
Episode 242
Let’s talk about Treasury Services!
This episode looks at an article from Bank Director titled “the growing demand for Treasury Services in the financial sector: Economic drivers and implications for deposit growth.” Treasury Services provide a number of key products and functions for banks’ business customers. Having these products and services can be the difference between winning and losses business customers. Treasury Services can be a key part of your deposit gathering strategy. A link to the article is included below.
Episode 243
Review of FDIC 2024 Small Business Lending Survey
This episode examines the FDIC 2024 Small Business Lending Survey. We go through the report and cover the key findings. Do small businesses still prefer banks? What impact is technology having? Do customers still value relationships? These are just a couple of the topics covered in the key findings. A link to the report is included below.
Link: FDIC Small Business Lending Survey 2024
Episode 244
Fed Pivot could spur more bond restructuring!
This episode examines a recent S&P Global article (subscription required) titled “Fed’s pivot to lower rates could spur more bond restructuring.” The topic of unrealized losses in bank bond portfolios has been a big issue since the banking crisis in early 2023. Now that the Fed has embarked on a rate reduction cycle, what impact will this have on banks’ existing investment portfolio?
Episode 245
What does a successful core conversion look like?
This episode examines an article from ICBA titled “Helpful tips for streamlining the core conversion process.” What should you know about the ins and outs of going through a core conversion? The article goes through five critical stages. 1) make the decision to convert, 2) calculate conversion costs, 3) have the right internal conversations, 4) evaluate providers, and 5) listen to peers. A core conversion is one of the toughest and most difficult things any banker can go through in their career. A link to the article is included below.
Link: Helpful Tips for Streamlining the Core Conversion Process (independentbanker.org)
Episode 246
Should you be concerned about your bank board’s performance?
This episode examines an article from Bank Director titled “Addressing poor performance in the boardroom.” What should your bank do if you have a board member that is not performing? What tools are available? Should your bank consider performance evaluations, age limits, and term limits? What is the impact of having the same person hold the role of CEO and Chairman on the board? To have a high performing bank, you need a high performing board. A link to the article is included below.
Link: Addressing Poor Performance in the Boardroom | Bank Director
Episode 247
M&A update for 3Q 2024 and bank merger review
This episode examines several articles from S&P Global (subscription required). First, we go through an update on 3Q 2024 M&A activity. How are bank deals trending? What is the aggregate deal value looking like? How does the current market compare to the last four years? Second, we look at a recently announced merger between ACNB and Traditions Bancorp in Pennsylvania. We look at the merger process as the deal goes from letter of intent to competitive bid, to initial offer, through further negotiations, and then reaches culmination. In addition, we consider the third parties involved in the transaction, which include lawyers and investment bankers.
Episode 248
Is a CRE concentration a bad thing?
This episode examines an article from Bank Director titled “Capitalizing on disruption: California’s entrepreneurial Five Star Bancorp.” We ask the question is a concentration in commercial real estate (CRE) a bad thing? Five Star Bancorp has a niche in financing manufactured housing. This niche makes up 86% of their loan portfolio and resulted in a value of 682% of its risk-based capital, which is way above the regulatory guidance of 300%. However, the bank’s performance is phenomenal! They have been able to show investors, regulators, and customers that this niche is a strategic advantage, not a major concern. A link to the article is included below.
Link: Capitalizing on Disruption: California’s Entrepreneurial Five Star Bancorp | Bank Director
Episode 249
What is going on with data-centers?
This episode examines the current debate raging over data centers. This topic is at the crossroads of commercial real estate, big tech, AI, environmental issues, and energy requirements. Data-centers have become big business as big tech needs a massive amount of data to drive the development of AI. These data-centers have gotten massive and require a lot of electricity and water. While there is push back against building data-centers in certain areas, big tech is getting creative in signing deals with energy companies to reopen nuclear power plants and build new ones. Links to multiple articles are included below.
Link: Data-center development boom prompts big questions from residents, lawmakers – The Business Journals
Link: Google Backs New Nuclear Plants to Power AI – WSJ
Link: Three Mile Island’s Nuclear Plant to Reopen, Help Power Microsoft’s AI Centers – WSJ
Link: Amazon Joins Big Tech’s Foray Into Nuclear Power – WSJ
Episode 250
OpenAI wants to become a for-profit organization, how does that work?
This episode examines the case of OpenAI as it wants to change from a nonprofit company into a for profit company. OpenAI started as a nonprofit organization in 2015 that wanted to responsibly develop AI as an open-source platform. That all changed in 2019 when the company formed a for profit arm that developed ChatGPT. OpenAI is now valued at $156 billion. It also just completed a $6.6 billion fundraising round. It has two years to turn itself into a for profit company. There remain many legal and ethical hurdles in transforming this company. Links to several articles are included below.
Link: OpenAI’s Complex Path to Becoming a For-Profit Company – WSJ
Link: OpenAI Nearly Doubles Valuation to $157 Billion in Funding Round – WSJ
Episode 251
The rise of Private Credit!
This episode examines the rise of Private Credit. Private Credit has become big business on Wall Street, and they are now looking to offload this risk onto retail investors. What is Private Credit? How did it start? Why is wall street trying to offload these loans through ETF, Mutual Funds, and Bond transactions? Can they do that? This all seems eerily familiar, like we saw this movie in 2007-2009. Anyone remember the movie the Big Short? Links to several articles are included below.
Link: Wall Street Races to Bring Private Credit to the Masses – WSJ
Link: Private Credit vs. Private Equity: What’s the Difference?
Episode 252
Review of ICBA’s check fraud detection guide
This episode examines the Independent Community Bankers Association (ICBA) new check fraud detection guide. The guide provides solutions available to community banks for detecting instances of check fraud. The guide covers technology solutions, such as software and federal government systems, and operational mechanisms, such as check cashing limits and new account reviews. A link to the guide is provided below.
Link: Check Fraud: A Practical Guide to Altered, Forged, and Counterfeit Checks for Community Bankers
Episode 253
Social Security Benefits received the COLA adjustment, was it enough?
This episode examines several articles from Investopedia, which address the recent cost of living adjustment (COLA) to social security benefits. Was the adjustment enough for retirees? In addition, we look at the Social Security Administration website and an example of the Social Security online statement. Links to both Investopedia articles, the Social Security Administration website, and the online statement and provided below.
Link: Social Security Benefits Were Adjusted This Week. One Expert Said It May Not Be Enough
Link: Social Security’s 2.5% Boost: What Enrollees Need to Know Now
Link: Your Social Security Statement
Link: Online Services | SSA
Episode 254
Update on banking industry ratios and interest rate risk
This episode examines several articles from Bank Director and S&P Global to provide an update on U.S. banking industry ratios, which include efficiency ratio, net interest margin, ROAA, ROAE, and interest rate risk. We try to get an idea of how the industry is performing overall and what headwinds could be on the horizon. The S&P Global article requires a subscription. A link is provided below for the Bank Director article.
Link: Banking: an Industry (Partially) at Risk | Bank Director
Episode 255
ICBA Advocacy in Action update for 4Q 2024
This episode examines the Independent Community Bankers Association (ICBA) Advocacy in Action update for the 4th quarter of 2024. What are the main regulatory issues the banking industry is currently facing? How could the proposed legislation affect consumers and businesses? A link to the PDF document is provided below.
Link: top-issues-2024.pdf
Episode 256
Crypto fraud is growing! (Crypto Series Part XI)
This episode examines a recent blog post from PCBB titled “Crypto Fraud is growing rapidly.” The blog posts looks at the different types of crypto fraud including investment scams, call center fraud, romance, and cryptocurrency kiosks. Who are the likeliest targets by age, state, and country. Finally, the blog post offers six tips on how to avoid getting scammed. A link to the blog post is included below.
Link: Crypto Fraud Is Growing Rapidly
Episode 257
How was loan demand and business activity in 3Q 2024?
This episode examines the Federal Reserve Bank of New York’s Business Leaders Survey for October 2024. We also examine an article from S&P Global (subscription required) titled “Q3 bank reports to show weak loan growth and modest deposit improvement.” Business activity remained steady in the Northeast section of the U.S. for the third quarter of 2024. Loan demand remained weak in the third quarter of 2024. A link to the FRBNY Business Leaders Survey is provided below.
Link: Business Leaders Survey
Episode 258
How is CECL performing?
This episode examines a recent PCBB blog post titled “How has CECL adoption affected credit loss allowance levels?” The Current Expected Credit Loss or CECL methodology has been implemented by all banks for managing their Allowance of Credit Losses (ACL). How is this relatively new methodology performing compared to how banks historically managed loan loss reserves or loan loss provisions? What are the differences between small and large banks? A link to the blog post is included below.
Link: How Has CECL Adoption Affected Credit Loss Allowance Levels?
Episode 259
Will real-time payments lead to faster fraud?
This episode examines a recent article from ICBA titled “Can Faster Payments Lead to Faster Fraud?” As real-time payments are implemented, one of the side effects is that fraud can also be perpetrated faster. What can community banks do to combat this issue? A link to the article is included below.
Link: Can Faster Payments Lead to Faster Fraud?
Episode 260
How worried are banks about interest rate risk?
This episode examines the OCC’s semiannual Interest Rate Risk Statistics Report for fall 2024. Interest rate risk is one of the largest risks that banks of all sizes face. Fluctuation in interest rates can have massive implications for bank balance sheets and future earnings. This report includes a review of bank reported IRR data that includes exposures, risk limits, and non-maturity deposit assumptions. The data is also broken down based on bank asset sizes. A link to the report is included below.
Link: Interest Rate Risk Statistics Report | OCC
Episode 261
How is CSBS feeling about the banking industry?
This episode examines the annual 2024 Conference of State Bank Supervisors (CSBS) Survey of Community Banks. The survey highlights the views of 367 banks across 38 states. The banks included in the survey are all under $10 billion in asset size. Some of the topics covered include cybersecurity, regulatory burden, high technology costs, and the cost of funds. A link to the report is included below.
Link: CSBS Survey Highlights Top Risks and Challenges
Link: FINAL2024CSBSSurvey.pdf
Episode 262
The fintech-bank partnership is on the rocks! What can banks do?
This episode examines three recent articles from Bank Director covering different aspects of the bank-fintech relationship. What should banks be concerned about with a fintech partnership? How can a bank dissolve a problematic partnership? Finally, how can banks get these relationships right? With the bank-fintech relationship under intense regulatory scrutiny and perhaps the future of banking hanging in the balance, this is a critical topic for the banking industry. Links to all three articles are provided below.
Link: A Cautionary Tale for Bank-Fintech Partnerships | Bank Director
Link: Dismantling Problematic Partnerships | Bank Director
Episode 263
What is Extend and Pretend?
This episode examines a recent report from the Federal Reserve Bank of New York titled “Extend-and-Pretend in the U.S. CRE Market.” This report was published in October 2024. The report shows that banks “extended-and-pretended” CRE mortgages in the post-pandemic period to avoid write offs against their capital and this led to credit misallocation and a buildup of financial fragility. A link to the report is included below.
Link: Extend-and-Pretend in the U.S. CRE Market – FEDERAL RESERVE BANK of NEW YORK
Episode 264
What is going on with colleges?
This episode examines several recent articles from The Business Journals and The Wall Street Journal on what is happening with colleges in the U.S. Colleges are seeing a decline in enrollment that could threaten their business model. However, colleges in the southeastern part of the U.S. are seeing a surge in enrollment, especially from students coming from the northeastern part of the country. With colleges becoming increasingly politicized, the amount of student loan debt outstanding, and many young people questioning the value of a college degree, how long can this go on before colleges have to make some big changes? Links to the articles are included below.
Link: Colleges, universities close across the county as enrollment drops – The Business Journals
Link: Sorry, Harvard. Everyone Wants to Go to College in the South Now. – WSJ
Episode 265
Lesson time: Let’s see how quickly a good loan can go bad!
This episode examines a recent article from The Business Journals titled “Wells Fargo’s former Market Street office building is crippled. Can it survive and adapt?” This article poses a great example of how quickly good loans can go bad. If you are a lender or work in the credit or risk departments of a bank, it is critical to understand that your loans may not be as strong as you think. A link to the article is included below.
Link: Wells Fargo’s departure cripples 401 Market St. – Philadelphia Business Journal
Episode 266
A De Novo success, the story of Pinnacle Financial Partners
This episode examines a recent article from Bank Director titled “Exclusive: An interview with Pinnacle Financial Partners’ CEO and Chairman.” This article is an interview with the CEO and Chairman of Pinnacle Financial Partners which tells their story from start up bank to a successful $50 billion dollar asset financial institution. What does it take to start a bank from scratch and make it successful? A link to the article is included below.
Link: Exclusive: An Interview With Pinnacle Financial Partners’ CEO and Chairman | Bank Director
Episode 267
What is your capital plan?
This episode examines a recent article from Bank Director titled “Always have a plan in place for raising capital.” This article asks the question, what is your bank’s plan for either selling stock or issuing debt to raise capital? Having adequate capital on hand is critical for banks for several reasons. First, you need a certain amount of capital for regulatory compliance. Second, you need capital to protect against potential credit losses. Third, you need capital for future growth. Fourth, you need capital to take advantage of potential M&A opportunities as they arise. Will your bank be able to respond to opportunities when the time comes? A link to the article is included below.
Link: Always Have a Plan in Place for Raising Capital | Bank Director
Episode 268
Tether in trouble and bank crypto update (Crypto Series Part XII)
This episode examines several articles from The Wall Street Journal and S&P Global concerning recent troubles with Tether, Provident Bancorp, and Customers Bancorp. Federal investigators are probing whether Tether has possible violations of anti-money laundering and sanctions rules. We also update on previously reported situations with Provident and Customers Bancorp. A link to The Wall Street Journal article is included below.
Link: Exclusive | Federal Investigators Probe Cryptocurrency Firm Tether – WSJ
Episode 269
Yellen continues market manipulation!
This episode examines a recent article from the Epoch Times (subscription required) titled “US Treasury plans to borrower $1.37 Trillion over next 6 months.” As the shell game of moving around debt to finance the governments out of control spending continues, the Treasury is losing control of interest rates. Janet Yellen has been manipulating Treasury auctions for over a year and is going to leave a colossal mess for the next Treasury Secretary. This episode follows the events covered in episode 207: U.S. Treasury is manipulating interest rates. A link to episode 207 and a link to the article are included below.
Link: US Treasury Plans to Borrow $1.37 Trillion Over Next 6 Months | The Epoch Times
Link: Episode 207: U.S. Treasury is manipulating interest rates!
Episode 270
How are U.S. unbanked households doing?
This episode examines a recent report by the FDIC on unbanked and underbanked households in the U.S. The report shows positive trends as the number of unbanked households in the U.S. continues to decline. The report also displays some very interesting data including the usage of mobile banking, the use of various payment channels, and for the first time, the use of buy now pay later. A link to the report is included below.
Link: 2023 FDIC National Survey of Unbanked and Underbanked Households | FDIC
Episode 271
Liquidation pressures led to Republic First Bank failure!
This episode examines a recent report from the FDIC Office of the Inspector General on what caused the failure at Republic First Bank earlier this year. The main reasons stated for the failure include unrealized losses in the bank’s bond portfolio, the inability to utilize secondary credit sources, several failed capital raises, and a dysfunctional board of directors. The main take away is that having unrealized losses in your investment portfolio is a very risky situation for a bank to find itself in. One misstep can lead to a catastrophe. A link to the report is included below.
Link: EVAL-2025-01 Material Loss Review of Republic First Bank.pdf
Episode 272
New SBA Covid EIDL Servicing Center (CESC) and My SBA loan portal
This episode looks at recent announcements from the SBA on the creation of a new Covid EIDL Servicing Center (CESC) and a new website called MySBA Loan Portal. If you need help with an SBA EIDL loan you can contact the CESC by phone (833-853-5638) or by email at covidEIDLservicing@sba.gov. Borrowers can register through the MySBA Loan Portal enrollment page at https://lending.sba.gov/
Episode 273
Special Report: Federal Home Loan Banks under fire!
This episode is a special report as the Federal Home Loan Banking System (FHLB) is under fire from the Federal Housing Finance Agency (FHFA). The FHFA is seeking to radically change the FHLB system by pushing a dramatic increase in affordable housing, climate change, and DEI politics. The episode examines multiple papers and reports to explain the chain of events that have led to this moment. The episode also reviews the history of the FHLB, their members, and why the FHLB should be left alone. Links to the reports are included below.
Link: Federal Home Loan Banks and Financial Stability | Journal of Financial Regulation | Oxford Academic
Link: FHLBank-System-at-100-Report.pdf | FEDERAL HOUSING FINANCE AGENCY
Link: GAO-24-106957: Federal Home Loan Banks: Actions Related to the Spring 2023 Bank Failures
Link: summary-of-fhlb-system-at-100-report.pdf
Episode 274
Interview with Jason Lange from Chatham Financial
This episode is an interview with Jason Lange from Chatham Financial. Jason is on Chatham’s financial institutions team, helping clients install, grow, and optimize balance sheet hedging and customer hedging programs. Jason has been with Chatham for 16 years and is a veteran of the armed forces serving as a U.S. Army Aviation Officer. Jason and I discuss different strategies for banks to manage their balance sheets in a decreasing interest rate environment. Links to Chatham’s website, Jason’s profile, and links to two previous interviews with Bob Newman are included below.
Link: https://www.chathamfinancial.com
Link: https://www.chathamfinancial.com/team/jason-lange
Link: Episode 42: Interview with Bob Newman from Chatham Financial
Link: Episode 67: Interview 2 with Bob Newman on Derivatives
Episode 275
How much is your bank really worth?
This episode examines a recent blog post from PCBB titled “How much is your CFI really worth?” Recent sales data implies there is a disconnect between buyers and sellers in terms of price. The M&A market has been weak for the last two years with many potential buyers sitting on the sidelines. What factors determine a bank’s value? A link to the blog post is included below.
Link: How Much Is Your CFI Really Worth?
Episode 276
Big Picture 2025!
This episode examines six articles from S&P Global (subscription required) that cover big picture topics for 2025. The topics include commodities, capital markets, supply chain, M&A, commercial real estate, and generative AI. 2025 could be quite an interesting year!