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Financial Institutions

CECL Adoption: What Financial Institutions Should Know

By Kati Barnhill | October 16, 2023
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Reading Time: 2 minutes
Now that banks are completing their third call report for the 2023 calendar year, we want to share some valuable insights and lessons learned as adoption of ASU 2016-13 (Current & Expected Credit Losses/CECL), is well underway. We have had the privilege of addressing numerous questions from clients now that …

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FinCEN Reporting Deadline Alert: What Every Business Needs to Know

By Pinion Editorial | October 3, 2023
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Reading Time: 2 minutes
Beginning January 1, 2024, the Corporate Transparency Act requires all U.S.-based entities to report to the Financial Crimes Enforcement Network (FinCEN) detailed information about the entity and its key stakeholders – called “beneficial owners.” Any business with any legal entity (including single-member LLCs with minimal activity) will be impacted.  Small …

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Kansas state capitol building.

Kansas Senate Bill 15 Overview

By Pinion Editorial | August 17, 2023
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Reading Time: 2 minutes
The Kansas Senate Bill 15 creates a new deduction for tax returns beginning in 2023. Specifically, the bill allows financial institutions to take privilege tax deductions on loans they’ve issued for agricultural real estate and single-family residences – providing a permanent tax savings for lending to ag clients and rural …

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Key Aspects of Section 1071: The Small Business Lending Final Rule

By Pinion Editorial | August 16, 2023
Reading Time: 3 minutes
I’m sure you are well aware of the beast the Consumer Financial Protection Bureau (CFPB) issued on March 30, 2023 related to Section 1071, the finalized Small Business Lending rule.  Almost every day there is a call to action from the banking industry to challenge the CFPB to provide relief …

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The FDIC was Audited. What Does that Mean for Banks?

By Melissa DeDonder | April 18, 2023
Reading Time: 6 minutes
The FDIC recently underwent an examination performed by The Office of Inspector General (OIG). The objective of the audit was to determine whether the FDIC’s Information Technology Risk Examination (InTREx) program effectively assesses and addresses IT and cyber risks at financial institutions. The audit was performed from April 2021 to …

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How the Holidays Can Shape Your Family Legacy

The Risks of Letting Your Legacy Ride: How Estate Planning Protects the Family

By Pinion Editorial | March 3, 2023
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Reading Time: 3 minutes
Ask any successful family business leader “What is your most important accomplishment?”  The overwhelming response is: ‘my legacy’.  And yet, only one in six have an estate plan.  Why work so hard to build a legacy, but do nothing to protect it?     “One of the most important things you …

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Cyber Attack

How Vulnerable Is Your Business to a Cyber Attack?

By Melissa DeDonder | March 1, 2023
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Reading Time: 2 minutes
In light of the recent cyberattack that shut down Dole’s North American production, businesses are reminded once again of the importance of cybersecurity and keeping operations secure. “While we typically only see large operations make the headlines after a cyberattack, it’s really important to understand that hackers will penetrate and …

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