Partner with the SDBA/NDBA to Sponsor, Advertise, and/or Exhibit at the 2023 Annual Convention: 'Where to Next?'

SDBA Committee/Work Group Appointment Requests due April 28

The SDBA will appoint standing committee members for 2023-2024 in May. SDBA committees are: Agricultural Credit, Credit Card, Legislative and Trust committees. The SDBA is also seeking members for four work groups: Education, Emerging Leaders, Technology and Women in Banking. Committee terms are one year beginning May 1, 2023, and ending April 30, 2024. The deadline to request appointment is Friday, April 28.

Current committee members have already been contacted via email and asked if they would like to be re-appointed to their respective committee(s)/work group(s) for 2023-2024. 

If you are interested in serving on a committee or work group, please fill out the form below.

Request appointment.

SDBA to Host Emerging Leaders Power Hour (and a half)

The South Dakota Bankers Association is excited to host Billie Sutton, Investment Executive and Human Resources Manager, First Fidelity Bank in Burke, as he recharges our leadership goals and initiatives during an afternoon power hour (and a half)! Registration is required to help us manage our Zoom numbers; however, there is no cost to attend. Here are the details:

Date: Thursday, May 4, 2023
Time: 3:30-5:00 p.m. CT | 2:30-4:00 p.m. MT
Fee: Free and open to all bankers! (Registration is required, however.)
Platform: Zoom - Link will be sent out 24 hours prior to event.

While aimed at developing the emerging leaders in the banking industry, this program is open to all bankers. Click here to register!

C-SPAN Interview: Rob Nichols on Calls for Increased Regulation After Recent Bank Failures

American Bankers Association president and CEO Rob Nichols talked about calls for increased federal banking oversight and regulation after recent bank failures. View the C-SPAN Interview here. 

USDA Rolling Out Revenue Based Disaster and Pandemic Assistance Programs 

Starting Jan 23, agricultural producers can begin to apply for two new important programs for revenue losses, from 2020 and 2021 natural disasters or the COVID-19 pandemic. Both programs equitably fill gaps in earlier assistance. 

First, you may be eligible for assistance through the Emergency Relief Program (ERP) Phase Two if you experienced revenue losses from eligible natural disasters in 2020 and 2021. ERP Phase Two is for producers who didn’t receive assistance from ERP Phase One.   

You may also be eligible for the Pandemic Assistance Revenue Program (PARP) if you experienced revenue losses in calendar year 2020. PARP is addressing gaps in previous pandemic assistance, which was targeted at price loss or lack of market access, rather than overall revenue losses.     

Applications for both new programs are due June 2, 2023, and you can apply for both programs during your same appointment with USDA’s Farm Service Agency (FSA). 

Historically, FSA programs have been designed to make direct payments to producers based on a single disaster event or for a single commodity loss. For many of you, this may be the first revenue-based program that you’ve applied for with FSA. 

Why revenue-based programs?    

ERP Phase Two and PARP take a much more holistic approach to disaster assistance, ensuring that producers not just make it through a single growing season but have the financial stability to invest in the long-term well-being of their operations and employees. 

In general, ERP Phase Two payments are based on the difference in allowable gross revenue between a benchmark year, representing a typical year of revenue for the producer and the disaster year – designed to target the remaining needs of producers impacted by qualifying natural disasters and avoid duplicative payments. ERP Phase Two revenue loss is based on tax years.    

For PARP, an agricultural producer must have been in the business of farming during at least part of the 2020 calendar year and had a decrease in revenue for the 2020 calendar year, as compared to a typical year. PARP revenue loss is based on calendar years. 

How to Apply 

In preparation for enrollment, producers should gather supporting documentation including:   

• Schedule F (Form 1040); and  
• Profit or Loss from Farming or similar tax documents for tax years 2018, 2019, 2020, 2021 and 2022 for ERP and for calendar years 2018, 2019 and 2020 for PARP.    

Producers should also have, or be prepared to have, the following forms on file for both ERP and PARP program participation:   

• Form AD-2047, Customer Data Worksheet (as applicable to the program participant);   
• Form CCC-902, Farm Operating Plan for an individual or legal entity;  
• Form CCC-901, Member Information for Legal Entities (if applicable); and   
• Form AD-1026 Highly Erodible Land Conservation (HELC) and Wetland Conservation (WC) Certification.   
• Form CCC-860, Socially Disadvantaged, Limited Resource, Beginning and Veteran Farmer or Rancher Certification, as certain existing permanent and ad-hoc disaster programs provide increased benefits or reduced fees and premiums. 

Most producers, especially those who have previously participated in FSA programs, will likely have these required forms on file. However, those who are uncertain or want to confirm should contact FSA at their local USDA Service Center.   

605 Strong Offers Support for Farmers, Ranchers, and Their Families

Stressors can come from many directions including the agricultural system, farm and ranch and family finances, mental and physical health challenges, and relationship difficulties. A healthy response to these challenges involves paying attention to the stressors within all of these areas and determining coping strategies that are useful in each area. 

If you feel overwhelmed in your situation or are struggling with emotions like anxiety, depression, stress, sadness or fear, you are not alone. Your feelings are an understandable human response to frustrations such as extreme weather conditions, loss of livestock, production challenges, machinery breakdowns, price and market uncertainties, and long hours that prevent time with family. Finding a healthy way to work through these feelings is important for you and everyone around you. Help is available to farmers, ranchers, and their family members through the Agriculture Behavioral Health Voucher Program.

Please get the support you need from people who care. 605 Strong offers help 24/7.

Farm and Rural Stress Hotline: 1-800-691-4336
SDSU Extension: https://bit.ly/SDSUExtension
Call 211 or visit 605strong.com

CISA News: North Dakota First State to Pass K-12 Cybersecurity Requirements

QUESTION OF THE WEEK

Q: Can a single loan be reported on both the HMDA and CRA LAR in a given year? 

A: It depends. Generally, loans cannot be double counted for HMDA and CRA purposes. However, multifamily affordable housing loans may be reported both under HMDA as home mortgage loans and as Community Development loans.  Also, the refinance of a loan to a business where a residence is taken as collateral could be reported both under HMDA and as a Small Business or Small Farm loan.   

References: 

"Except for multifamily affordable housing loans, which may be reported by retail institutions both under HMDA as home mortgage loans and as community development loans, in order to avoid double counting, retail institutions must report loans that meet the definition of “home mortgage loan,” “small business loan,” or “small farm loan” only in those respective categories even if they also meet the definition of “community development loan.”" 

https://www.ffiec.gov/cra/pdf/2015_CRA_Guide.pdf 

"If an institution is not a wholesale or limited-purpose institution, it cannot designate a loan as a community development loan if the loan has already been reported or collected by the institution or an affiliate as a small business, small farm, consumer, or home mortgage loan (except in the case of a multifamily dwelling loan, which may be considered a community development loan as well as a home mortgage loan)." https://www.ffiec.gov/cra/pdf/2015_CRA_Guide.pdf 

“A loan of $1 million or less with a business purpose that is secured by a one-to-four family residence is considered a small business loan for CRA purposes only if the security interest in the residential property was taken as an abundance of caution and where the terms have not been made more favorable than they would have been in the absence of the lien. (See Call Report Glossary definition of “Loan Secured by Real Estate.”) If this same loan is refinanced and the new loan is also secured by a one-to-four family residence, but only through an abundance of caution, this loan is reported not only as a refinancing under HMDA, but also as a small business loan under CRA. (Note that small farm loans are similarly treated.)" 

https://www.federalregister.gov/d/2016-16693/p-451c 

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.

Questions/Comments
Contact the SDBA at 605.224.1653 or via email.