SDBA eNews

February 16, 2023

SDBA to Host First Women in Banking Virtual Power Hour

The SDBA is hosting a new event: a Women in Banking POWER HOUR (and a half) to be held virtually on March 9 from 3:30 - 5:00 CST. We hope you can join us to connect, collaborate and catch up!

Melissa Eich, RN and founder of Melissa Eich Coaching is our guest speaker, and she will help us focus on changing our mindset. We'll also talk about the 2023 Women in Banking event and have the chance to network with friends and colleagues. For details and to register for this FREE event, click here.  Registration is required to help us manage our Zoom account. 


Heart Screening Events Held Throughout the Month of February

February is American Heart Month and because of that, Sanford Health has planned local screenings in multiple area communities. So far, Brookings, Viborg, Vermillion, Bowdle, and Aberdeen communities have held events to provide heart screenings. Up next are the following communities: 

Big Stone, SD
Location: Big Stone City Office
Address: 400 Washington, Big Stone, SD
Date: February 20, 2023
Time: 10-6

Huron
Location: Huron Regional Medical Center-HRMC Legacy Plaza Auditorium
Address: 110 4th Street SE, Huron, SD
Date: February 22-23, 2023
Time: Feb 22 (9-6) Feb 23 (8-4)

Pierre
Location: Sanford Pierre Clinic
Address: 521 E. Sioux Ave, Pierre, SD
Date: February 27-28, 2023
Hours: Feb 27 (11-7) Feb 28 (7-4)

Burke
Location: Burke Community Memorial
Address: 809 Jackson St, Burke, SD
Date: March 2, 2023
Time: 8-5

If you are interested in scheduling an appointment, please call 605-312-2150. *When calling to schedule, be sure to mention that you are an SDBA member on the Health Plan. 


Join the SDBA in Washington, D.C. at the Washington Summit in March

The 2023 ABA Washington Summit and Forums will be held March 20-23 at the Marriott Marquis in Washington D.C. To maximize banker participation, this will continue to be offered as a hybrid event without registration fees. To register (in-person or virtually), secure your accommodations and view the program, please visit aba.com/summit.

The SDBA is currently planning to attend the Summit and would like to invite you to participate as well. Join us as we hear from top-notch speakers, connect with our congressional delegation and dine with our friends at the NDBA. You won’t want to miss this opportunity to engage on multiple levels. 

The Washington Summit is the opportunity for you and your peers to advocate for the changes America’s banks need to better serve their customers, form and build relationships with lawmakers and unite our industry’s voice on Capitol Hill. Our collective voice is critical as we educate policymakers on the important role banks play in economic growth and job creation.

Find more information and register at www.aba.com/training-events/conferences/washington-summit


SD Bankers Foundation Offers Named Scholarships to South Dakota Students

The South Dakota Bankers Foundation annually offers five named scholarships awarded directly to students attending a South Dakota college who are pursuing a career in banking or finance. Applicants must be in their junior year, entering their senior year of college during the 2023-2024 school year. Please refer to your academic handbook if you need clarification for junior/senior credit qualifications. 

  • $4,000 Alan M. Graff Scholarship
  • $3,000 David S. Birkeland Scholarship
  • 3,000 Herman Lerdal Scholarship
  • $3,000 Joyce Hazeltine Scholarship
  • $1,500 Deb Gates Scholarship

The deadline to apply is March 31, 2023. The SDBA also provides a poster if banks would like to help promote the scholarships. 

For more information on South Dakota Bankers Foundation scholarships, contact Foundation Executive Director Halley Lee.


Parter with the SDBA/NDBA for the Annual Convention! Business Partner Information Guide Available

The South Dakota Bankers Association (SDBA), in partnership with the North Dakota Bankers Association (NDBA), will again host our joint Annual Convention in Sioux Falls, SD, June 4-6, 2023, at the Sioux Falls Convention Center. We can’t wait to explore WHERE TO NEXT? and be reunited with our friends and partners from across South Dakota and North Dakota, alike! 

Click here to access the Business Partner Information: SDBA/NDBA Sponsor-Advertise-Exhibitor Guide for the 2023 Annual Convention. This event wouldn’t be possible without the help of our partners, and we want to thank you for considering supporting our event. As additional public information becomes available, it will be posted to this site: https://www.sdba.com/convention.

In the guide, there are opportunities to sponsor, advertise, and exhibit at the 2023 SDBA/NDBA Annual Convention: Where to Next? Please utilize the following contact information for any questions or details you may require: [email protected] or 605.224.1653. 

Some deadlines are coming up quickly, so reserve your space(s) ASAP. Sponsors confirmed by Wednesday, March 8 will be included in convention registration materials sent to more than 1,000 bankers and associate members later that month. 


RMA to Host 'Cash Flow Analysis II: Applied Concepts' Course in Sioux Falls

The Risk Management Association is hosting a Cash Flow Analysis II: Applied Concepts course in Sioux Falls on April 26-27, 2023.

Gain more understanding of how to effectively review a loan request by linking financial analysis and cash flow analysis to industry, business, and management risk issues.

Course Objectives:

  • Assess Borrower performance through analysis of financial statements.
  • Construct and analyze historic and projected cash flow statements.
  • Identify and analyze the financial impact of management decisions and of business and competitive factors on loan repayment from cash flow.
  • Use the results of qualitative and quantitative analysis to make appropriate credit decisions.

Find more information and register here


Hacker Hour: Internal Network Penetration Testing 

Hacker Hour: Internal Network Penetration Testing
Thursday, February 23  |  2:00-3:00 PM CT

Sparked by continued growth in the sheer number of attacks and the sophistication of cybercriminal techniques, internal penetration testing has become a very necessary exercise to identify vulnerabilities, protect from insider threats, and strengthen the overall security posture of the business.

Join SBS as we answer many of the most common questions about internal penetration testing.

Hacker Hour webinars are a series of free webinars hosted by SBS CyberSecurity. Attendees are encouraged to join the conversation and get their questions answered. SBS will also offer products and services to help financial institutions with these specific issues.

Register Here!


  Compliance Alliance logo

QUESTION OF THE WEEK

Q: Can an LLC be a beneficiary on an account?

A: There's a restriction in the deposit insurance coverage from naming an LLC on a POD account unless it's charitable or non-profit entity:

"(c) Definition of beneficiary. For purposes of this section, a beneficiary includes a natural person as well as a charitable organization and other non-profit entity recognized as such under the Internal Revenue Code of 1986, as amended."

https://www.ecfr.gov/cgi-bin/text-idx?SID=4d17f984ec7585cce98f2661a322c289&mc=true&node=se12.5.330_110&rgn=div8

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.


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