From the Board Room
News and information about the IBA Board of Directors members and the things they are accomplishing
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OFFICIAL PUBLICATION OF THE INDIANA BANKERS ASSOCIATION
September 20, 2024
Anniversary Milestones
Bath State Bank staff and directors welcome members of the community to the bank’s 100th anniversary celebration at a local fairground in June 2024. Bath State Bank celebrated its centennial anniversary in June with bank staff and more than 1,000 customers at a local fairground. A 1924 Studebaker Light Six Roadster, owned by a long-time
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16 Complete IBA Commercial Lending School
Congratulations to the 2024 graduating class of the IBA Commercial Lending School, which took place June 10-14…
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Associate Members’ Corner
Cinnaire Corporation / Lansing, MI Cinnaire Corporation and the Indiana Bankers Association closed a Low-Income Housing Tax Credit investment fund generating $23.5 million to support the development and rehabilitation of two affordable multi-family apartment communities in the state. The developments will provide 136 units of affordable housing – 50 at The Monreaux in South Bend,
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Banking Center News
We spotlight and congratulate banks for opening new branches and locations.
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Interest Rate Risk and Liquidity Risk Are Your ALCO and Board Ready for the Next Exam or Falling Rates?
At the end of the most aggressive Fed tightening cycle since the early 1980s, interest rate risk management and liquidity risk management are issues on the top of every regulator’s list when they visit your bank for an exam. While your board of directors and asset/liability committee may have discussed the issues, do you have a strategy in place regarding your investment portfolio as rates fall?
Branch Closings Requirements and Nuances
Regardless of a bank’s regulator or state jurisdiction, there are certain notice requirements that apply when a bank plans to close a branch under Section 42 of the Federal Deposit Insurance Act.* For any closure subject to Section 42, the bank must provide 90 days prior written notice of any branch closing to its primary Federal regulator as well as to all branch customers, as well as a notice physically posted at the branch site at least 30 days before the intended date of closure to be in compliance with Section 42.
Branch Closings Requirements and Nuances
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Honorable Mentions
Brock C. Goggins, senior vice president, chief retail banking officer at German American Bank, Jasper, was recognized in July by BankBeat magazine as a 2024 Rising Star in Banking. Goggins is an advisory board member and immediate past president of the IBA Future Leadership Division, a member the American Bankers Association’s Emerging Leaders Council, volunteers in several capacities…
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How CFPB’s Rule 1033 Could Affect Data Rights and Open Banking
The Consumer Financial Protection Bureau estimates that 100 million consumers have authorized third parties to access their data.1 That data drives endless business decisions and capabilities. But financial institutions and technology developers must also be aware of regulations regarding consumers and their rights over their data.
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Interest Rate Risk in 2024 Model Assumptions in a Falling Rate Environment
After a little more than two years and 525 basis points-worth of rate hikes, the Federal Reserve has started to signal that rate cuts are on the horizon. During the period of rapid rate hikes, we saw an increased focus on asset liability management/interest rate risk model assumption review and documentation. Along with rising rates, we also saw an increasingly competitive environment for deposits, which drove the cost of funds up much faster than assumed across the board.
Interest Rate Risk in 2024 Model Assumptions in a Falling Rate Environment
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