The last chance to guide markets to no change was last week and the Fed passed. Fed Chairman Powell provided his semi-annual report to Congress on the condition of the U.S. economy and the outlook for monetary policy. The entire two days of testimony can be summed up by one word: uncertainty. He used this…
read article →Status: Pending Lead Advisor: Chris Hargrove
read article →Status: Pending Lead Advisor: Chris Hargrove
read article →Now what does the Fed do after a much stronger jobs report for June? The Fed finds itself with a real dilemma. Wall Street is expecting and even demanding a cut in managed rates at the next FOMC meeting at the end of July. The fear is the U.S. economy is slowing due to the…
read article →BRASELTON, June 21, 2019– The Community Bankers Association of Georgia (CBA) hosted the inaugural Compliance Officer Boot Camp, held June 18-21, 2019 at the Chateau Elan Winery & Resort in Braselton, GA. Eighteen community bankers from across the state graduated with a certificate of completion and continuing professional education (CPE) credits. The Compliance Officer Boot…
read article →The divergence in economic data is driving the bond and stock markets. The divergence in capital markets mirrors the divergence in economic data. Consumer confidence was down from above 130 on the Conference Board’s index in May and remained at the low level of 121.5 in June. At the same time, personal spending and incomes…
read article →Financial institutions continue to prepare for the transition to accounting standard ASU 2016-13, commonly known as CECL. The new accounting standard requires institutions to recognize the full life of loan expected credit loss at the time of origination. As implementation dates creep closer, most are busy gathering data, building models or selecting 3rd party partners, and…
read article →Jun 2019 by Andy Morgan Essential Concepts in Pricing Loans Imagine this scenario. You’ve purchased loan pricing software. Your team is excited to implement the model to help drive commercial relationship profitability. You install the model, login for the first time, and then the questions start popping up. Where did these assumptions come from? Why don’t…
read article →LOUISVILLE, KENTUCKY, June 2019 ProBank Austin is pleased to announce that Dennis Jessie, Senior Consultant, has earned the American Bankers Association’s Certified Regulatory Compliance Manager (CRCM) designation. The Certified Regulatory Compliance Manager (CRCM) designation is awarded to those whom have completed the approved training programs and demonstrate proven knowledge in regulatory requirements, detection, prevention, and…
read article →The Fed met last week and did exactly what investors and politicians wanted. The Fed did not disappoint last week. They did not change current monetary policy leaving the Funds rate unchanged. They did open the door for a rate cut at their July meeting. The FOMC noted an increased level of uncertainty since their…
read article →The FOMC meets this week with widespread expectations of a rate cut. The Federal Open Market Committee meets this week with the bond market already pricing in a cut in managed rates. We do not believe that will happen. The key data piece was released last Friday. Retail sales were up 0.5% for the month…
read article →Written by: Jeff Morris, ProBank Austin Financial Institutions of every size, whether public or private, are continuing to invest time, effort, and resources into their preparations for CECL, as implementation dates draw nearer for the largest single accounting standard change to hit the financial services industry in decades. Numerous individuals inside every institution, including board…
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