Community Banks

FDIC: First-Ever FDIC Academic Challenge Launched

Teams from universities and colleges throughout the country will examine effects of community banks on local economic development  The Federal Deposit Insurance Corporation (FDIC) today announced the launch of the agency’s first-ever Academic Challenge, a competition among teams of university and college students to address questions concerning the U.S. banking sector. The topic for this inaugural…

FDIC: Final Rule Issued Revising and Codifying Section 19 to Allow Greater Employment Opportunities for Individuals with Certain Minor Criminal Offenses

The Federal Deposit Insurance Corporation (FDIC) approved a final rule to revise and incorporate into the FDIC’s regulations a longstanding Statement of Policy (SOP) related to individuals with certain criminal offenses on their records who seek employment in the banking industry.  Section 19 of the Federal Deposit Insurance Act (Section 19) prohibits any person from…

FDI: New Members to Advisory Committee on Community Banking Named

The Federal Deposit Insurance Corporation (FDIC) today announced three new members to its Advisory Committee on Community Banking, which has been sharing input with the FDIC on a broad range of community bank policy and regulatory matters since it was established in 2009. The Advisory Committee members represent a cross-section of community bankers from around…

ABA: America’s Banks Urged to Adopt Mask Policy

In light of the continuing health threat posed by the COVID-19 pandemic, the American Bankers Association is urging banks across the nation to adopt a policy requiring anyone who enters a branch to wear a mask or face covering to protect the health of bank employees and customers. Requiring the use of masks and face…

FDIC: MVB Bank, Inc. of Fairmont, West Virginia, Acquires The First State Bank, Barboursville, West Virginia

The First State Bank, based in Barboursville, West Virginia, was closed today by the West Virginia Division of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with MVB Bank, Inc. (MVB Bank) of Fairmont, West Virginia, to assume all…

Federal Reserve: Community Depository Institutions Advisory Council Members Announced for 2020

The Federal Reserve Board on Tuesday announced the members of its Community Depository Institutions Advisory Council (CDIAC) and the president of the council for 2020. The CDIAC advises the Board on the economy, lending conditions, and other issues of interest to community depository institutions. Members are selected from representatives of commercial banks, thrift institutions, and…

ABA: US Chamber Foundation and ABA Partner to Expand Bank Hiring Opportunities for Veterans

Community Banks Encouraged to Participate in Hiring Our Heroes Program A new partnership between the American Bankers Association and the US Chamber of Commerce Foundation will expand veteran hiring opportunities at banks across the nation. The partnership, announced at the ABA’s annual convention in Seattle, will enable more community banks to participate in the Foundation’s…

ABA: Seattle Banker Elected as New ABA Chair

Today the American Bankers Association elected Laura Lee “Laurie” Stewart as its chair for the 2019-2020 association year. The election took place during ABA’s annual convention in Seattle. Stewart is also president and CEO of Sound Financial Bancorp, Inc., and Sound Community Bank, a $717 million institution based in Seattle. Sound Community Bank is recognized…

ABA: 2019-2020 Officers Board Elected

Members attending the American Bankers Association’s annual convention in Seattle have elected new ABA officers and directors to serve on ABA’s board for the 2019–2020 association year. The new officers are: CHAIR: Laura Lee (Laurie) Stewart, president and CEO, Sound Community Bank, Seattle; CHAIRMAN-ELECT: James J. Edwards, Jr., CEO, United Bank, Griffin, Ga.; VICE CHAIRMAN:…

ABA: New Survey Shows Americans Remain Highly Satisfied with Their Bank

Nearly 9 in 10 Americans with a bank account (88 percent) say they are “very satisfied” or “satisfied” with their primary bank, and 96 percent rate their bank’s customer service as “excellent,” “very good” or “good,” according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The survey, unveiled…