Community Reinvestment Act

Wolters Kluwer to provide regulatory compliance insights at 2024 CBA LIVE conference

Retrieved on:

Wednesday, March 20, 2024

Wolters Kluwer Compliance Solutions’ Timothy Burniston , Senior Advisor, Regulatory Strategy, and Jason Keller , Director, Advisory Services, will share insights on several key U.S. regulatory banking issues at the 2024 CBA LIVE conference March 25-27 at Gaylord National Harbor in Washington, DC.

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Wolters Kluwer Compliance Solutions’ Timothy Burniston , Senior Advisor, Regulatory Strategy, and Jason Keller , Director, Advisory Services, will share insights on several key U.S. regulatory banking issues at the 2024 CBA LIVE conference March 25-27 at Gaylord National Harbor in Washington, DC.
“The complexity of changes brought about by a modernized CRA presents banks with significant interpretive and operational challenges they will have to navigate,” said Vikram Savkar , Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions.
Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks, credit unions, insurers and securities firms.
The business sits within the Wolters Kluwer Financial & Corporate Compliance (FCC) division and helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.

City National Bank Names Adey Tesfaye as Head of Community Reinvestment Act (CRA) Department

Retrieved on:

Monday, February 26, 2024

CRA, California Bank and Trust, Personal, Adey, Economic development, Investment, Community Reinvestment Act, City, Small business, Government, City National Bank, Sterling Bank, Local Initiatives Support Corporation, Organization, Community, HSBC

LOS ANGELES, Feb. 26, 2024 (GLOBE NEWSWIRE) -- City National Bank has named Adey Tesfaye as the new head of its Community Reinvestment Act (CRA) department.

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LOS ANGELES, Feb. 26, 2024 (GLOBE NEWSWIRE) -- City National Bank has named Adey Tesfaye as the new head of its Community Reinvestment Act (CRA) department.
City National is committed to investing in its communities through its CRA initiatives that include providing loans and investments for affordable housing and economic development.
“Adey’s wealth of experience in community reinvestment will help City National make a significant impact through our community development initiatives in areas that need it most,” said David Cameron, executive vice president of Personal & Business Banking, City National Bank.
Prior to City National, she worked at Sterling Bank & Trust, where she served as senior vice president and CRA officer.

Truist Charitable Fund names 17 new grant recipients

Retrieved on:

Wednesday, February 14, 2024

CHARLOTTE, N.C., Feb. 14, 2024 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced the initial recipients of its Truist Community Catalyst Initiative, a three-year Community Reinvestment Act program supporting local efforts with statewide impact. This initiative will support 17 efforts across 13 states, impacting 54 communities, allowing local nonprofit organizations to better respond to critical community needs within their state.

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The 2023-25 Truist Community Catalyst Initiative focuses on issues within four key focus areas: affordable housing, small business access to capital, workforce development and essential community services.
As each program expands, grant recipients will have the opportunity to reapply for additional funding annually through 2025.
Grant funding will expand the nonprofit's Naturally Occurring Affordable Housing Preservation Project and Housing Loan Fund to finance and secure affordable housing units.
Capital Good Fund: A CDFI with a mission to create pathways out of poverty and advance a green economy through inclusive financial services.

Greystone Housing Impact Investors LP Issues 500,000 Series B Preferred Units

Retrieved on:

Tuesday, February 6, 2024

Venture round, Community, GHI, Community Reinvestment Act, Form, Acquisition, Security (finance)

OMAHA, Neb., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced today that on February 2, 2024 the Partnership executed a Subscription Agreement to issue 500,000 Series B Preferred Units representing limited partnership interests in the Partnership (the “Series B Preferred Units”) to an institutional investor, resulting in $5,000,000 in new aggregate proceeds to the Partnership.

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OMAHA, Neb., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced today that on February 2, 2024 the Partnership executed a Subscription Agreement to issue 500,000 Series B Preferred Units representing limited partnership interests in the Partnership (the “Series B Preferred Units”) to an institutional investor, resulting in $5,000,000 in new aggregate proceeds to the Partnership.
The stated value of the newly issued Series B Preferred Units is $5,000,000.
The Series B Preferred Units were issued in accordance with the Partnership’s existing “shelf” registration statement on Form S-3 (Reg.
The earliest potential redemption date for the newly issued Series B Preferred Units is February 2030, with certain exceptions.

Independent Bank Corp. CEO Jeffrey Tengel, President Gerard Nadeau and CFO Mark J. Ruggiero to Participate in the 2024 KBW Winter Financial Services Conference

Retrieved on:

Monday, February 5, 2024

Banking, Professional Services, Finance, Employee resource group, Equal housing lender, Community Reinvestment Act, FDIC, Community, Credit, Diversity, KBW, Inclusion, Education, Rockland Trust, Culture, Bank, Insurance, Conference

Jeffrey Tengel, Chief Executive Officer, Gerard Nadeau, President, and Mark J. Ruggiero, Chief Financial Officer and Executive Vice President of Consumer Lending of Independent Bank Corp. (NASDAQ Global Select Market: INDB) will participate in the 2024 KBW Winter Financial Services Conference on February 15, 2024.

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Jeffrey Tengel, Chief Executive Officer, Gerard Nadeau, President, and Mark J. Ruggiero, Chief Financial Officer and Executive Vice President of Consumer Lending of Independent Bank Corp. (NASDAQ Global Select Market: INDB) will participate in the 2024 KBW Winter Financial Services Conference on February 15, 2024.
The conference will take place at The Boca Raton Resort, 501 E. Camino Real, Boca Raton, FL 33432.
Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts.
The Bank also offers a full suite of mobile, online, and telephone banking services.

SmartFinancial Announces Results for the Fourth Quarter 2023

Retrieved on:

Monday, January 22, 2024

Community, Growth, Face, Community Reinvestment Act, Bank

Thank you!”

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Thank you!”
Net interest income was $31.5 million for the fourth quarter of 2023, compared to $31.0 million for the prior quarter.
The tax equivalent net interest margin was 2.86% for the fourth quarter of 2023, compared to 2.81% for the prior quarter.
The cost of total deposits for the fourth quarter of 2023 was 2.35% compared to 2.20% in the prior quarter.
The cost of interest-bearing liabilities increased to 3.07% for the fourth quarter of 2023, compared to 2.89% for the prior quarter.

Greystone Housing Impact Investors LP Issues 1,750,000 Series B Preferred Units

Retrieved on:

Monday, January 22, 2024

Community, Form, GHI, Community Reinvestment Act, Acquisition, Exchange, Venture round, Security (finance)

OMAHA, Neb., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced today that on January 19, 2024 the Partnership executed an Exchange Agreement to issue 1,750,000 Series B Preferred Units representing limited partnership interests in the Partnership (the “Series B Preferred Units”) to a financial institution in exchange for 1,750,000 previously outstanding Series A Preferred Units representing limited partnership interests in the Partnership (the “Series A Preferred Units”) held by such financial institution.

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OMAHA, Neb., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced today that on January 19, 2024 the Partnership executed an Exchange Agreement to issue 1,750,000 Series B Preferred Units representing limited partnership interests in the Partnership (the “Series B Preferred Units”) to a financial institution in exchange for 1,750,000 previously outstanding Series A Preferred Units representing limited partnership interests in the Partnership (the “Series A Preferred Units”) held by such financial institution.
The stated value of the newly issued Series B Preferred Units is $17,500,000.
The Series B Preferred Units were issued in accordance with the Partnership’s existing “shelf” registration statement on Form S-4 (Reg.
The Series A Preferred Units and Series B Preferred Units are non-cumulative, non-convertible, and non-voting classes of limited partnership interests in the Partnership for which the holder has an option to have the units redeemed on the sixth anniversary of the acquisition date and each subsequent anniversary thereafter.

Old National, NCRC Announce Addendum to Increase Community Growth Plan to $9.5 Billion

Retrieved on:

Thursday, January 18, 2024

Community, Volksgemeinschaft, CapStar Bank, Investment, Partnership, Housing, Nitenpyram, Plan, Community Reinvestment Act, Acquisition, Old National Bank, NCRC, Old, Small business, Organization, Economic development

The Plan and addendum were developed in collaboration with the National Community Reinvestment Coalition (NCRC) and its members.

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The Plan and addendum were developed in collaboration with the National Community Reinvestment Coalition (NCRC) and its members.
The addendum is subject to the closing of Old National’s previously announced partnership with Nashville-based CapStar Financial Holdings, Inc. (“CapStar”) (NASDAQ: CSTR), the holding company for CapStar Bank.
These commitments include additional quantitative goals for mortgage lending, small business lending, community development lending and investments, philanthropic activities, and racial equity commitments.
“Supporting and strengthening the communities that Old National serves is a strategic priority and a defining characteristic of our Old National culture,” said Old National CEO Jim Ryan.

Sunflower Bank, N.A. Announces 2023 Community Impact Year in Review

Retrieved on:

Tuesday, January 23, 2024

Other Professional Services, Other Philanthropy, Finance, Banking, Professional Services, Philanthropy, Fund Raising, Foundation, Community, CRA, Investment, Common sunflower, Community Reinvestment Act, First, Community development, First National, Organization, Homelessness, Bank

recognizes the outstanding contributions of its employees and Community Affairs Office throughout 2023, marking another year of dedicated efforts towards fostering meaningful community impact .

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recognizes the outstanding contributions of its employees and Community Affairs Office throughout 2023, marking another year of dedicated efforts towards fostering meaningful community impact .
In its second year, the Community Affairs Office, led by regional community development officers, continued to play a pivotal role in advancing community volunteerism, investment, and community development lending across Arizona, Colorado, Kansas, New Mexico, Texas, and Washington.
Danny Spears, senior vice president and CRA director at Sunflower Bank, expressed, “In 2023, the collaborative community engagement initiatives of Sunflower Bank, First National 1870, and Guardian Mortgage resulted in exciting accomplishments, spanning employee volunteerism, Community Reinvestment Act (CRA)-related programs, community lending and investments, charitable giving, community partnerships, and empowering bank products.”
Key points of community achievements in 2023 include:
Volunteerism: Sunflower Bank, N.A.
Visit the Community Impact Stories pages of the Sunflower Bank and First National 1870 websites for articles highlighting notable examples of Sunflower Bank, N.A.’s volunteer and investment activities.

TD Bank Targets $20 Billion to Spark Economic Opportunities for Low- and Moderate-Income, Diverse and Underserved Communities across 15 States and Washington, D.C.

Retrieved on:

Wednesday, January 24, 2024

When they flourish, we succeed,” said Leo Salom, President and CEO of TD Bank, America's Most Convenient Bank®.

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When they flourish, we succeed,” said Leo Salom, President and CEO of TD Bank, America's Most Convenient Bank®.
“One of our primary objectives as a purpose-driven bank is to help power economic opportunities that help low- and moderate-income (LMI), diverse and underserved communities achieve their financial goals.
TD Bank will create a lending Special Purpose Credit Program for small businesses that are registered Minority Business, women-owned or veteran-owned enterprises.
Engage and support Historically Black Colleges and Universities (HBCUs) through recruitment of students and alumni and enhancement of financial access.