eNews
September 2020
 

The Virginia Banking eNewsletter is a monthly supplement to Virginia Banking magazine, intended to help you stay on top of industry knowledge via current trends data and insights.

From the VBA

Did you know that since its inception, the VBA Education Foundation has contributed more than $1.16 million to deserving students and financial literacy based organizations? More than $84,000 was distributed in the last year alone!

Please consider supporting this year’s VBA Education Foundation Annual Fund Campaign, with a goal to raise a minimum of $48,000. This will ensure that we can continue to grow the VBA Bank Day Scholarship Program and support organizations whose missions align with ours — to improve financial literacy and economic education in all public and private schools in the Commonwealth.

You can learn more about the Foundation and the programs and organizations we support here. You can contribute to the campaign online here — personal and bank contributions accepted! Your support of the fund is integral to the success of the Foundation’s programs, not just this year, but every year. On behalf of the VBA Education Foundation, thank you for your consideration.

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Bankers On The Move & Recent Promotions

C&F Financial Corp.
Jeffery Smith – Board of Directors

Community Bank of the Chesapeake
Samuel Kessler – Vice President, Commercial Loan Officer

First Bank & Trust Co.
Melissa Coffey – Assistant Vice President, Branch Manager
Jonathan Comer – Commercial Loan Officer
Cathy Hawkins – Vice President, Commercial Lender

MainStreet Bank
Thomas Cary – Business Banking Division Head
Lisa Kilgour – Executive Vice President, Chief Operating Officer

Pendleton Community Bank
Aaron Green – Senior Vice President, Market Leader
Neil Hayslett – Chief Banking Officer

Pinnacle Financial Partners
Eddie Alford – Diversity and Inclusion Officer

Village Bank
Roy Barzel – Executive Vice President, Chief Credit Officer
Donnie Kaloski Jr. – Executive Vice President, Chief Financial Officer
Christy Quesenbery – Executive Vice President, Operations

Delta Dental of Virginia
Computer Services Inc
Robust Analytics Meets Expert Guidance
PCBB
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Industry News & Trends
ABA President and CEO Rob Nichols discusses the importance of financial education lessons learned from the COVID-19 pandemic for both businesses and households. (American Bankers Association)
In recent months, human resource departments have helped employees navigate a rapidly changing workplace, working around the clock to keep them safe and ensure that their organizations survive. (Harvard Business Review)
Virginia Small Business Financing Authority
SalesSource International
"The Interagency Examiner Guidance for Assessing Safety and Soundness Considering the Effect of the COVID-19 Pandemic on Institutions" is one of several interagency statements issued since the start of the pandemic to guide regulators. (Compliance Guru)
From VBA Partners
Recreational marijuana is now legal in 11 states and 22 have approved the use of medical marijuana. While business may be booming in the sector, Nicole Booth with VBA Associate Member Elliott Davis explains that the banking industry has been left with more questions than answers because of a lack of regulatory guidance.
There are many new practices and norms as a result of the COVID-19 pandemic and shutdowns across the country. VBA Endorsed Provider PWCampbell's James Caliendo shares that one of the lasting effects could be the increased rise in technology, including online and mobile banking, so branches should ready themselves to seamlessly blend with a high-tech world.
How can banks and other financial institutions prepare now to handle increased defaults and delinquencies as consumers face greater hardship brought on by the coronavirus crisis? Though no one has experienced this exact crisis before, looking at reactions to the 2008 recession is a helpful frame of reference. In this ebook, VBA Associate Member Info-Pro Lender Services will explore best practices for effectively managing increased defaults and delinquencies as a bank during the coronavirus crisis and beyond.
VBA Associate Member Troutman Sanders and Pepper Hamilton officially became Troutman Pepper (Troutman Pepper Hamilton Sanders LLP) recently, a national law firm with 1,100 attorneys in 23 U.S. cities. The new firm offers clients greater resources and bench strength, enhanced practices, and expanded geographical reach. Read the announcement and learn more about Troutman Pepper’s services.
Many believe that banks and non-bank lenders are competitors. Here, VBA Associate Member Star Mountain Capital shares some of the many flexible capital non-bank lenders that can be great strategic partners for banks.