ICBSD Blog

When Your Lobby Reopens: What You Need to Know

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[vc_row][vc_column][vc_custom_heading text=\”CRITICAL INFRASTRUCTURE OPERATIONS CENTERS AND CONTROL ROOMS – A GUIDE FOR PANDEMIC RESPONSE\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text]Joel Williquette, SVP, Operational Risk Policy at ICBA joined our Covid-19 War Room Call on May 1st. Joel spoke on the topic \”When your bank lobby reopens\” and shared a wealth of information and resources to consider as you prepare to […]

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Credit Administration : Documentation of SBA Paycheck Protection Program Loans – UPDATE

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[vc_row][vc_column][vc_custom_heading text=\”Credit Administration : Documentation of SBA Paycheck Protection Program Loans – UPDATE\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text] The Office of the Comptroller of the Currency (OCC) is issuing this bulletin to clarify its statement in OCC Bulletin 2020-44, which is hereby rescinded. Loans made by banks1 under the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) are an important

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Community bank loans getting through: SBA

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[vc_row][vc_column][vc_custom_heading text=\”Community bank loans getting through: SBA\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text] Community banks under $10 billion in assets neared the $30 billion in Paycheck Protection Program funds set aside for them by the law restarting the program, according to reports of Small Business Administration data. The SBA reportedly said that as of 1 p.m. (Eastern time) Tuesday, these

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[vc_row][vc_column][vc_custom_heading text=”PPP Lending Operations Update – Tuesday, April 28, 2020″ google_fonts=”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal”][vc_column_text] SBA and Treasury value all lenders and their small business customers. For the benefit of small business customers and their employees, SBA and Treasury are working on ways to optimize the loan processing system. Starting today, Robotic Processing Automation (RPA), which are robotic systems

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Advocacy, ICBSD Blog, Press Releases / By

[vc_row][vc_column][vc_custom_heading text=”ICBSD’s Josh Hogue and Megan Olson: Now is the Time to Switch to a Community Bank, PPP Assistance & More” font_container=”tag:h3|text_align:center” google_fonts=”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal”][vc_column_text]The second round of stimulus money is set to be signed into law today by President Trump.  Josh Hogue, ICBSD Board Member and President at Reliabank, and ICBSD President and CEO Megan Olson

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[vc_row][vc_column][vc_custom_heading text=”ICBSD, ICBA and Fellow Associations Secure Carve Out For Independent Banks in Paycheck Protection Program” google_fonts=”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal”][vc_column_text]FOR IMMEDIATE RELEASE Additional Funds Dedicated for Community Banks in Round Two of PPP WATERTOWN, S.D. (April 23, 2020) – The Independent Community Bankers of South Dakota (ICBSD), alongside the Independent Community Bankers of America (ICBA), announced today their

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Fed changes director, shareholder rules for PPP loans

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[vc_row][vc_column][vc_custom_heading text=\”Fed changes director, shareholder rules for PPP loans\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text]April 20, 2020 The Federal Reserve Board announced a temporary rule change to support access to the SBA Paycheck Protection Program for certain bank directors and shareholders. The SBA recently clarified that lenders may make PPP loans to businesses owned by their directors and shareholders that own less

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The Treasury Department and Small Business Administration Answer Key Questions About the Paycheck Protection Program

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[vc_row][vc_column][vc_custom_heading text=\”The Treasury Department and Small Business Administration Answer Key Questions About the Paycheck Protection Program.\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text] This just in from Rebeca Romero Rainy, ICBA President & CEO: Dear Community Banker: The Treasury Department and Small Business Administration just answered key ICBA questions about the Paycheck Protection Program relating to bank directors, partnerships, self-employed borrowers,

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Update on Paycheck Protection Program

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[vc_row][vc_column width=\”5/6\”][vc_custom_heading text=\”SBA Expects the Amount of Processed PPP Loan Volume to Reach the Maximum\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text] In the near future, SBA expects the amount of processed PPP loan volume to reach the maximum amount authorized and appropriated by Congress. Once the authorization limit is reached, SBA will not be able to accept any new loan applications for the

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Treasury and SBA Issued Clarifying Information to the Interim Final Rule

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[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

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