SDBA eNews

May 25, 2023

Derek Nolan Appointed to Fill Emerging Leader Position on the SDBA Board of Directors

Appointed as the Emerging Leader Board Member for the 2023-2024 term is Derek Nolan, Market President and Compliance Officer, Rivers Edge Bank, Marion. 

Derek Nolan:

Derek Nolan is currently the Compliance Officer for Rivers Edge bank and is transitioning into a new position of Marketing Director while continuing his current role. He has experience with management, consumer and residential real estate lending, retail banking, compliance, and marketing.

Nolan is the Mayor of Parker and is a board member on the Turner County Fair Board. He is involved in various church activities and is a member of the Par Mar Valley Golf Course.

Derek is married to his wife, Tarah of 14 years and they have two daughters, ages 6 and 4.

Nolan stated, “I am thankful for the opportunity to serve on the board to further my understanding of the crucial role of the SDBA in the banking industry in South Dakota and beyond. As the Emerging Leaders representative, I will take advantage of this learning experience so I can encourage other up-and-coming leaders to get involved. I will also continue to advocate and celebrate the efforts of the Emerging Leaders work group and programming provided by the

Join us at the 2023 SDBA/NDBA Annual Convention June 4-6!

The countdown is on as we are in the final days leading up to the 2023 SDBA/NDBA Annual Convention! If you can't come for the full event, that's ok. Partial registration options are available, as well. Plus, there's something for everyone: CEOs, emerging leaders, tech, banking trends and economic trends--all wrapped into a lot of fun!

From the Badlands to the Great Plains to the Missouri River, it’s no secret that the Dakotas are connected in many ways – including our respective bankers’ associations. In 1993, the SDBA hosted the first SDBA/NDBA joint convention in Rapid City, SD. Join us in Sioux Falls as we celebrate 30 years of partnership – travelling through challenges, navigating obstacles, and driving change. And we will continue to work together to move our banks, our communities, and our industry forward as we answer the question, “Where to NEXT?”

WHAT:       Where to NEXT?
                   SDBA/NDBA Annual Convention
WHEN:       June 4-6, 2023
WHERE:     Sioux Falls Convention Center, Sioux Falls, SD

Visit the convention website to view the full agenda and to register. 

Hotel information is available by clicking here

If you have any questions, please reach out to us at [email protected] or call 605.224.1653.

Understanding Bank Performance Course Being Offered in July

If there's one thing we've seen clearly in the fallout from Silicon Valley Bank and Signature Bank, it's that today's bankers need to have a deep understanding of how bank performance actually works. Washington Bankers Association’s Understanding Bank Performance curriculum, taught by a graduate of Pacific Coast Banking School, is designed to provide just that, in an engaging, relevant, and comprehensive fashion. This opportunity is being offered virtually in July in conjunction with the SDBA. 

Participants will learn how to assess and analyze a bank’s financial performance by working with data from real institutions. Using financial statements from one sample financial institution along with statements from their own banks, participants will become familiar with the ins and outs of balance sheets and income statements and learn how to apply key performance metrics to the data presented in these documents. 

To view more details and to register, click here

ACRE Act Toolkit Available for Banks

The Access to Credit for our Rural Economy Act, also known as ACRE (H.R. 3139), will help sustain and grow rural America by making it easier for farmers, ranchers, and rural homeowners to access low-cost credit. ACRE will lower the cost of making a loan backed by agricultural real estate, enhance competition between lenders for agricultural and rural housing loans, and help expand access to low-cost credit in rural America. This toolkit provides resources that bankers and state associations can use to help lawmakers understand the value and benefits of the ACRE Act. 

Access the resources here: ACRE Act Toolkit | American Bankers Association (

Graduate School of Banking Scholarship Deadline is June 2

About the Graduate School of Banking

Since 1945, the Graduate School of Banking at the University of Wisconsin-Madison (GSB) has developed banking leaders through a rigorous academic program designed especially for experienced bankers. GSB is sponsored and governed by the Central States Conference of Bankers Associations in partnership with the University of Wisconsin-Madison. By relying on its alumni, Banker Advisory Board and Academic Committee, GSB creates an unparalleled learning and networking experience that has been the school of choice for more than 23,000 
bankers. Led by GSB’s talented and knowledgeable faculty, the 25-month GSB program is held in two-week sessions over three summers and features a comprehensive core of relevant bank leadership courses across all areas of banking – finance, technology, marketing, management and more. A wide range of electives allows participants to tailor their educational program. The curriculum is enhanced by FiSim, GSB’s robust bank management simulation, and in-depth intersession assignments that allow students to use learned concepts to improve their own institutions, adding relevance and value. 

About the Scholarship

For the Graduate School of Banking, the scholarship amount is $1,500 for each year of the student’s attendance. 

Deadline to apply for this 2023 scholarship: June 2, 2023 

Find the scholarship application here.

For Additional Information

To learn more about the Graduate School of Banking, please visit the GSB website: or call 608-243-1945.

Please note: Scholarships are for incoming 1st year GSB students only. A separate application for the School must be completed - via the GSB website - by the published enrollment deadline in order to attend the 2023 School. 

Rob Nichols: America’s Banks are Stronger Together

The U.S. banking system has long been the envy of the world. The reasons for this are many, but at the core, it’s because our nation has cultivated a vibrant, thriving financial services sector made up of banks of all sizes, charters, business models and risk profiles.

Each one of these institutions has an important role to play in the overall economic ecosystem: from the community bank guiding a family through the purchase of a first home, to the midsize bank helping a small business manage its cashflows, to the regional bank providing commercial loans to promote the building of new retail centers and office spaces, to the large, globally active institution that supplies credit to multinational firms that provide thousands of jobs in the U.S.

The breadth and diversity of our financial services sector is something no one should ever take for granted.

That’s why ABA joined forces with the nation’s 51 state bankers associations to deliver a powerful message to members of Congress in the aftermath of the Silicon Valley Bank and Signature Bank failures in March: the U.S. banking system remains the deepest and most resilient in the world, and policymakers in Washington need to keep it that way for the good of the country. That message continues to hold true in the wake of the unfortunate failure of First Republic Bank in early May.

The sudden and swift collapse of these institutions is something that both banks and bank policymakers can and must learn from. But in recent days, there have been some in Washington who have seized this opportunity to advance misguided policy proposals—many of which have nothing to do with the failures of these banks. These include proposals that would make it significantly harder for community banks to compete, and new capital requirements for larger banks that would limit their ability to lend at a time of economic uncertainty.

The policy response to these failures should not place America’s competitive, thriving banking system at risk. Rather, we must seek solutions that preserve that competitive landscape and ensure that banks of all sizes with diverse business models are allowed to compete and succeed in serving the needs of their communities.

To achieve that goal, we all must stand together as an industry, and resist efforts to divide us.

Past experience has taught us that we are stronger and most effective in our advocacy when we speak with one voice, and that there can be harmful consequences when we don’t.

In the days to come, there will be many conversations about the future of banking regulation, about potential changes to the deposit insurance system and what we can do to preserve the depth and diversity of our banking system.

By speaking with a united voice on these and other issues, we can move our industry forward and work with policymakers to understand what happened at SVB, Signature and First Republic, but, even more importantly, we can reinforce the overwhelming strength and resilience of the U.S. banking sector and lift up the work our nation’s banks do every day to make our communities better.

CISA News: Why and How to Report a Ransomware Attack

Ransomware attacks happen every day but largely go unreported. Reporting a ransomware incident is essential for containing the attack, gathering valuable intelligence, supporting investigations, and complying with legal and regulatory obligations. In SD, if you believe a crime has been committed, call your local police or sheriff’s department. If elsewise, the SD Fusion Center, FBI & CISA are your best contacts.

View the full article here

  Compliance Alliance logo


Q: If we obtain new information on a Regulation E dispute indicating that the transaction was authorized after the bank concluded its investigation and issued final credit, can we reopen the investigation and reverse the credit?

A: Regulation E, unfortunately, does not contemplate reversing a final credit, even if new information comes to light after the disposition of the investigation. If the bank has already communicated to the consumer that the "final credit has been made” (or similar), then attempting to reverse a final credit could invite increased regulatory scrutiny during an exam and/or audit since Reg E simply does not authorize this action.

Some make the interpretation that the consumer shouldn't get a windfall and would reverse the final credit provided by the bank. However, there's nothing that expressly allows this in the regulation and it's highly questionable whether reversing credit outside of the timing requirements set out in Reg. E would be acceptable. As such, it would be most conservative to not reverse the final credit since Reg E does not specifically allow for it.

Compliance Alliance offers a comprehensive suite of compliance management solutions. To learn how to put them to work for your bank, call (888) 353-3933 or email [email protected] and ask for our Membership Team.

For timely compliance updates, subscribe to Bankers Alliance’s email newsletters.


 SDBA eNews Archive
View past issues of the SDBA eNews

Advertising Opportunity
Learn more about sponsoring the SDBA eNews.

Contact the SDBA at 605.224.1653 or via email.