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ICBSD Blog
Our blog features the latest news, updates, and insights from the community banking industry.
[vc_row][vc_column][vc_column_text] April 15, 2020, Yankton, S.D. – First Dakota National Bank is playing an important role in securing millions of dollars in low-interest federal loans to hundreds of South Dakota businesses and farms. In its ongoing effort to help employers weather the financial storm caused by COVID, First Dakota has already funded more than $100 […]
[vc_row][vc_column][vc_custom_heading text=”Federal Banking Agencies to Defer Appraisals and Evaluations for Real Estate Transactions Affected by COVID-19″ google_fonts=”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal”][vc_column_text] The federal banking agencies today issued an interim final rule to temporarily defer real estate-related appraisals and evaluations under the agencies’ interagency appraisal regulations. The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the […]
[vc_row][vc_column][vc_custom_heading text=\”Treasury and SBA Issued Clarifying Information to the Interim Final Rule\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]On April 14, the Treasury and SBA issued clarifying information to the interim final rule. Page 14, of the rule Clarification regarding Eligible Businesses answers the questions: Are eligible businesses owned by directors or shareholders of a PPP Lender permitted to apply for a […]
[vc_row][vc_column][vc_custom_heading text=\”SBA Publishes PPP Statistics \” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][/vc_column][/vc_row][vc_row][vc_column width=\”5/6\”][vc_column_text]The Small Business Administration published statistics regarding the number of approved loans as of April 13, 2020. The data is broken out by state.[/vc_column_text][/vc_column][vc_column width=\”1/6\”][vc_btn title=\”View Stats\” color=\”green\” link=\”url:https%3A%2F%2Fcontent.sba.gov%2Fsites%2Fdefault%2Ffiles%2F2020-04%2FPPP%2520Report%2520SBA%25204.14.20%2520%2520-%2520%2520Read-Only.pdf||target:%20_blank|\”][/vc_column][/vc_row]
[vc_row][vc_column width=\”5/6\”][vc_custom_heading text=\”PPP Sign on Letter\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text]The ICBSD, alongside ICBA and 28 other state banking associations, sent the attached letter to Steven Mnuchin, Secretary of the U.S. Department of the Treasury and Jovita Carranza Administrator of the Small Business Administration this past week. The letter urges Secretary Mnuchin and Administrator Carranza for urgent, clear and […]
[vc_row][vc_column][vc_custom_heading text=\”Federal Bank Regulators Issue Interim Final Rule for Paycheck Protection Program Facility\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][/vc_column][/vc_row][vc_row][vc_column width=\”5/6\”][vc_column_text]The federal bank regulatory agencies today announced an interim final rule to encourage lending to small businesses through the Small Business Administration\’s Paycheck Protection Program, or PPP. The PPP was established by the Coronavirus Aid, Relief, and Economic Security Act, or […]
[vc_row][vc_column][vc_custom_heading text=\”Changes to the Regulatory Capital Rule to Accommodate the Paycheck Protection Program\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text] Summary: The Federal Deposit Insurance Corporation, Board of Governors of the Federal Reserve System (Federal Reserve), and Office of the Comptroller of the Currency (together, the agencies) issued an interim final rule on April 7, 2020, that allows banking organizations to […]
[vc_row][vc_column width=\”5/6\”][vc_custom_heading text=\”Opportunities for selling Held-to-Maturity securities\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text] ICBSD Preferred Partner, ICBA Securities and Vining Sparks, has published a Strategic Insight regarding banks’ ability to sell certain of its bonds. The report suggests that conditions may have been met for banks to sell HTM securities without tainting the remainder of the portfolio. It also says […]
[vc_row][vc_column][vc_custom_heading text=\”Considerations for a PPP Note \” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][/vc_column][/vc_row][vc_row][vc_column width=\”5/6\”][vc_column_text]You should always consult with your bank attorney when preparing loan documents. We have put together some information for your consideration when utilizing your own note forms. We are also advised that forms vendors have either prepared a note or are in the process of preparing notes […]
[vc_row][vc_column][vc_cta h2=”Paycheck Protection Program ” h2_google_fonts=”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal” h4=”Frequently Asked Questions ” color=”green” add_button=”bottom” btn_title=”View FAQs” use_custom_fonts_h2=”true” btn_link=”url:https%3A%2F%2Fhome.treasury.gov%2Fsystem%2Ffiles%2F136%2FPaycheck-Protection-Program-Frequenty-Asked-Questions.pdf||target:%20_blank|”]The U.S. Treasury has released a FAQ document regarding the Paycheck Protection Program to provide you with additional guidance.[/vc_cta][/vc_column][/vc_row]