REGISTRATION OPEN: Breaking Into Banking 101 & 201 | February 22 & March 27

The SDBA is pleased to once again host the virtual Breaking Into Banking 101 & 201, Thursday, February 22, and Wednesday, March 27, respectively, and registration for both webinars is OPEN NOW!

Breaking Into Banking 101: Fundamentals of Commercial Banking - Thursday, February 22
Commercial banking can be intimidating because of its complexity and the risk-oriented nature of the work. This course is a clear and thorough introduction to the key concepts, terminology, and processes involved in credit and lending. It doesn’t assume much prior knowledge of the topic, so it’s ideal for those in their first year in the industry. Learners will walk away with a clear understanding of their job and how their specific role fits into the bank’s overall profitability goals. Click here to review the full curriculum and register.

Breaking Into Banking 201: Analyzing Repayment Sources - Wednesday, March 27
This 9-module online course is a “sequel” to the 101 course and is best taken after completion of that course, though it is not a prerequisite. The 201 course includes a case study and dives deeper into topics covered in modules 4, 6, and 8 of the 101 course: analyzing a borrower’s balance sheet, income statement, collateral, and risk ratings. Click here to review the full curriculum and register.

Both courses are beneficial for credit analysts, lenders, portfolio managers, branch managers, and others who need skills in financial statement analysis and writing credit documents. Prices are based on a single, individual viewing/attendance. If you have questions, please don't hesitate to contact the SDBA at [email protected] or 605.224.1653.

2024 SDBA Bank Directories Still Available

The South Dakota Bank Directory provides detailed information on all South Dakota banks including addresses, telephone numbers, important contact names and additional pertinent information. The directory also contains information on the SDBA, banking associations, regulatory agencies, endorsed vendors, associate members and South Dakota officials.

SDBA member banks, branches and associate members each receive one complimentary copy of the annual bank directory. Additional copies may be purchased while supplies last.

Member Cost

Single Copy: $35 plus tax
Multiple Copies: $30 each plus tax

Non-Member Cost

Single Copy: $50 plus tax
Multiple Copies: $45 each plus tax

Place your order.

SDBA Now Accepting 2024 Women of Impact Award Nominations

The SDBA Women of Impact Award has been established to celebrate South Dakota Bankers Association members who have made significant contributions and positive impacts in their organizations, communities and industry. These awards will be presented at the 2024 Lead Strong: Women in Banking event on September 26 in Sioux Falls, SD. In 500 words or less, please share why this nominee should be considered for the Women of Impact Award. Eligibility Requirements: Nominee must be a member of the SDBA. Nomination Deadline: Nominations must be received by August 2, 2024 to be considered. Click here to make your nomination! For questions or clarifications, contact the SDBA at [email protected] or 605.224.1653.

GSB HR School Scholarship Available | Due Friday, February 9, 2024

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.

To apply for consideration of the GSB HR School Scholarship, click here for the application. Apps are due back to SDBA by Friday, Feb. 9, 2024. Contact Halley Lee for questions or clarifications.

Federal Bank Regulatory Agencies Release Webinar of New Community Reinvestment Act Regulations

The federal bank regulatory agencies today jointly issued a pre-recorded webinar on the interagency final rule to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA).

The nearly one-hour video provides an overview of the new CRA rule issued on October 24, 2023, and its objectives. Additional topics in the recording include assessment areas, community development, evaluation framework, performance tests, ratings, data collection and reporting, and applicability dates.

The CRA is a landmark law enacted nearly 50 years ago to encourage banks to help meet the credit needs of their local communities, with a focus on low- and moderate-income neighborhoods, in a safe and sound manner.

View the webinar of the new CRA rule here.

Find Your Legislators & Prepare to Engage!

With the 99th Session of the South Dakota Legislature underway, now is a great time to get to know your legislators in your district! Browse bills, view the calendar and tune into committee meetings that may be of interest to you, all right here: https://sdlegislature.gov/. Finally, keep a pulse on this year's session with the SDBA by subscribing to SDBA President, Karl Adam's, weekly Legislative Updates. Those will start appearing in inboxes in the coming days. If you'd like to subscribe or confirm your subscription, contact [email protected], or login to your profile here. Archived editions can also be found here. And better yet, attend the SDBA State Legislative Day on Wednesday, February 14, 2024, at the Ramkota Hotel & Conference Center in Pierre. Details and registration information are linked here.

CISA News: Android Malware

Some infected apps discovered on Google Play include Step Keeper: Easy Pedometer; Track Your Sleep; Essential Horoscope for Android; 3D Skin Editor for PE Minecraft; Logo Maker Pro; Auto Click Repeater; Count Easy Calorie Calculator; Sound Volume Extender; LetterLink; Numerology: Personal Horoscope & Number Predictions; Sound Volume Booster; Astrological Navigator: Daily Horoscope & Tarot; Universal Calculator. Click here for more.

QUESTION OF THE WEEK

Q: We have a customer that died in November, and they are set to receive social security benefits in December. Do we need to send this back?

A: The benefits will need to be returned. You must return the benefits received for the month of death and any later months so with the month of death being November, any benefits received in December on would need to be returned, including this one. It is important to note that SSA pays benefits in the month following when they are due. So, for example, the November benefit would be paid in December. The SSA policy is that they do not pay benefits for the month of death, meaning that the SSA would require the benefit received in December (payment for November, the month of death) to be returned.

References:
"We pay Social Security benefits monthly. The benefits are paid in the month following the month for which they are due. For example, you would receive your July benefit in August." p. 1 https://www.ssa.gov/pubs/EN-05-10077.pdf

"We can’t pay benefits for the month of death. That means if the person died in July, the check received in August (which is payment for July) must be returned.", p.11 https://www.ssa.gov/pubs/EN-05-10077.pdf

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.
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