Federal Financial Institutions Examination Council

Harry Davis & Company CFO Joseph Joyce Named 2023 ASA Rising Star

Retrieved on: 
Wednesday, October 11, 2023

Harry Davis & Company is thrilled to announce that Joseph Joyce, Chief Financial Officer, was awarded the prestigious Rising Star Award by the American Society of Appraisers (ASA).

Key Points: 
  • Harry Davis & Company is thrilled to announce that Joseph Joyce, Chief Financial Officer, was awarded the prestigious Rising Star Award by the American Society of Appraisers (ASA).
  • View the full release here: https://www.businesswire.com/news/home/20231011921766/en/
    Joseph Joyce, CFO, Harry Davis & Company (Photo: Business Wire)
    “I had the great honor of presenting the Rising Star Award for Machinery and Technical Specialties to Joseph Joyce.
  • At Harry Davis & Company, Joyce’s expertise and leadership have transformed the appraisal division and enhanced the quality of its appraisal reports.
  • “We are extremely proud to have Joe as part of our team leading the appraisal business,” said Leonard Davis, CEO of Harry Davis & Company.

FROST INTRODUCES PROGRESS HOME EQUITY LOAN TO MAKE ACCESS TO CREDIT MORE AFFORDABLE

Retrieved on: 
Tuesday, September 26, 2023

"The Frost Progress Home Equity Loan – along with our new Progress Mortgage – will make people's lives better by providing funding at low rates and affordable terms to increase their sense of financial belonging."

Key Points: 
  • "The Frost Progress Home Equity Loan – along with our new Progress Mortgage – will make people's lives better by providing funding at low rates and affordable terms to increase their sense of financial belonging."
  • The Frost Progress Home Equity Loan is available to owners of single-family residences as well as condominiums and townhomes.
  • The Progress Home Equity Loan is available for terms of 10, 20, 25 and 30 years, and in most cases borrowers will have no closing costs.
  • The new Progress Home Equity Loan is a companion to the Frost Progress Mortgage, which the company is introducing across Texas as it expands its new mortgage lending operations.

ESQUIRE FINANCIAL HOLDINGS, INC. ANNOUNCES THE HIRING OF GARY LAX AS CHIEF LEGAL OFFICER WITH A FOCUS ON ESQUIRE'S NATIONAL STRATEGIC GROWTH PLANS

Retrieved on: 
Wednesday, September 6, 2023

JERICHO, N.Y., Sept. 6, 2023 /PRNewswire/ -- Esquire Financial Holdings, Inc. (NASDAQ: ESQ), the holding company for Esquire Bank, National Association (collectively "Esquire"), today announced the hiring of Gary Lax as its Senior Vice President, Chief Legal Officer, and Corporate Secretary.

Key Points: 
  • JERICHO, N.Y., Sept. 6, 2023 /PRNewswire/ -- Esquire Financial Holdings, Inc. (NASDAQ: ESQ), the holding company for Esquire Bank, National Association (collectively "Esquire"), today announced the hiring of Gary Lax as its Senior Vice President, Chief Legal Officer, and Corporate Secretary.
  • "Gary has been Esquire's legal, regulatory, and business advisor for over 16 years as well as a seasoned and respected leader in the banking and regulatory community for over 35 years," stated Andrew C. Sagliocca, Vice Chairman, Chief Executive Officer, and President of Esquire.
  • "Gary is a key addition to our senior management team and will be instrumental in implementing strategic growth plans as we continue to expand our footprint, resources, tailored financial solutions, and services in both national verticals and more."
  • "After 16 years as my client, I have a unique understanding of Esquire's business model, management team, strategic vision, and culture."

Salt Security Report Identifies Significant API Vulnerabilities and Attacker Activity in Financial Services and Insurance Companies

Retrieved on: 
Wednesday, July 19, 2023

PALO ALTO, Calif. , July 19, 2023 /PRNewswire/ -- Salt Security, the leading API security company, today released findings from its first industry-focused report on API security, the 2023 "State of API Security for Financial Services and Insurance." The report combines empirical data from Salt customers and findings from two separate surveys to provide an in-depth analysis of the impact of API security threats and vulnerabilities on these industries.

Key Points: 
  • Industry-focused report shows nearly 70% of financial services and insurance companies have suffered rollout delays due to API security, 92% have had security issues in production APIs
    PALO ALTO, Calif. , July 19, 2023 /PRNewswire/ -- Salt Security , the leading API security company, today released findings from its first industry-focused report on API security, the 2023 "State of API Security for Financial Services and Insurance."
  • The report combines empirical data from Salt customers and findings from two separate surveys to provide an in-depth analysis of the impact of API security threats and vulnerabilities on these industries.
  • In addition, 92% of financial/insurance respondents say they have experienced a significant security issue in production APIs over the past year, and nearly one out of five have suffered an API security breach.
  • Top findings include:
    "APIs are essential for the innovative digital services being delivered today by financial and insurance organizations," said Roey Eliyahu, CEO and co-founder of Salt Security.

Global CISO Survey Finds Digital-First Economy Introduces Unforeseen Risks for 89% of CISOs

Retrieved on: 
Wednesday, June 21, 2023

PALO ALTO, Calif., June 21, 2023 /PRNewswire/ -- Salt Security, the leading API security company, today released key findings of the new "State of the CISO 2023" report. Conducted by Global Surveyz for Salt, the global CISO survey gathered feedback from 300 CISOs/CSOs around the world on issues resulting from digital transformation and enterprise digitalization. The results highlight significant CISO challenges including the biggest security control gaps they must manage, the most significant personal struggles they face, and the impact that broader global issues are having on their ability to deliver effective cybersecurity strategies. 

Key Points: 
  • The vast majority of CISOs admit to feeling the impact of a number of global trends.
  • Specific CISO responses regarding the impact of global trends were:
    The digital-first economy has also impacted CISOs on a personal level.
  • With several high-profile CISO lawsuits making waves recently, CISOs are fearful of being found personally liable in the event of a breach, putting their livelihood at risk.
  • On a positive note, 96% of CISOs worldwide report that their boards of directors are knowledgeable or very knowledgeable about cybersecurity issues.

SW Graduate School of Banking Foundation (SWGSB) at the SMU Cox School of Business Distinguished Award Recipients Elevate Financial Services Industry Through Service

Retrieved on: 
Monday, June 5, 2023

The award is given to a graduate of SWGSB who has served the financial services industry in a way that goes above and beyond his or her peers.

Key Points: 
  • The award is given to a graduate of SWGSB who has served the financial services industry in a way that goes above and beyond his or her peers.
  • Recipients have made meaningful contributions to banking, and their work draws honor to the school.
  • In September 2018, state banking supervisors appointed him to serve on the Financial Stability Oversight Council, and he was reappointed in 2020.
  • He is also heavily involved in promoting cybersecurity in the financial sector and serves on the Financial and Banking Information Infrastructure Committee.

SW Graduate School of Banking Foundation (SWGSB) at the SMU Cox School of Business Distinguished Award Recipients Elevate Financial Services Industry Through Service

Retrieved on: 
Saturday, June 3, 2023

TX (SMU), June 02, 2023 (GLOBE NEWSWIRE) -- The chairman of Commerce Street Holdings and the banking commissioner for the state of Texas were honored Thursday at the annual banquet hosted by the SW Graduate School of Banking (SWGSB) at the SMU Cox School of Business.

Key Points: 
  • TX (SMU), June 02, 2023 (GLOBE NEWSWIRE) -- The chairman of Commerce Street Holdings and the banking commissioner for the state of Texas were honored Thursday at the annual banquet hosted by the SW Graduate School of Banking (SWGSB) at the SMU Cox School of Business.
  • The award is given to a graduate of SWGSB who has served the financial services industry in a way that goes above and beyond his or her peers.
  • Recipients have made meaningful contributions to banking, and their work draws honor to the school.
  • He is also heavily involved in promoting cybersecurity in the financial sector and serves on the Financial and Banking Information Infrastructure Committee.

Bank Director Releases Risk Survey Results

Retrieved on: 
Tuesday, March 28, 2023

BRENTWOOD, Tenn., March 28, 2023 /PRNewswire/ -- Bank Director, the leading information resource for directors and officers of financial institutions nationwide, released its 2023 Risk Survey, sponsored by Moss Adams LLP. The survey reveals heightened concern by bank leaders around interest rates, liquidity management, credit and consumer risk.

Key Points: 
  • Bank Director's Study Reveals That Deposit Pricing, Interest Rates and Liquidity Top Bankers' Concerns
    BRENTWOOD, Tenn., March 28, 2023 /PRNewswire/ -- Bank Director, the leading information resource for directors and officers of financial institutions nationwide, released its 2023 Risk Survey , sponsored by Moss Adams LLP.
  • The survey reveals heightened concern by bank leaders around interest rates, liquidity management, credit and consumer risk.
  • This led to two sizable bank closures: $209 billion SVB Financial Corp., parent of Silicon Valley Bank, and $110 billion Signature Bank.
  • The survey includes the views of 212 directors, CEOs, chief risk officers and other senior executives of U.S. banks below $100 billion in assets.

First Foundation Provides Update on Financial Strength

Retrieved on: 
Tuesday, March 21, 2023

First Foundation Inc. (NASDAQ: FFWM) (“First Foundation” or the “Company”), a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and First Foundation Bank today issued the following updated financial information to reiterate its strong financial position as a regional bank.

Key Points: 
  • First Foundation Inc. (NASDAQ: FFWM) (“First Foundation” or the “Company”), a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and First Foundation Bank today issued the following updated financial information to reiterate its strong financial position as a regional bank.
  • First Foundation continues to have a resilient core business, with consolidated total assets valued at more than $13.9 billion as of 3/17/23.
  • First Foundation Bank remains in a strong liquidity position with available cash and cash equivalents held on balance sheet of approximately $1.3 billion as of 3/17/23.
  • “First Foundation remains in a strong financial position,” said Scott F. Kavanaugh, President and CEO.

First National Bank Alaska Announces Unaudited Results for Fourth Quarter 2022

Retrieved on: 
Friday, February 10, 2023

First National Bank Alaska’s (OTCQX:FBAK) unaudited net income for the fourth quarter of 2022 was $14.4 million, or $4.54 per share.

Key Points: 
  • First National Bank Alaska’s (OTCQX:FBAK) unaudited net income for the fourth quarter of 2022 was $14.4 million, or $4.54 per share.
  • Noninterest income for the fourth quarter 2022 of $5.9 million decreased 4.3% from the same period last year, and for the full twelve months of 2022 decreased 3.5% from 2021.
  • American Banker recognized First National in 2022 as a “Best Bank to Work For” for the fifth year running.
  • First National Bank Alaska is a Member FDIC and Equal Housing Lender.