News

| Thursday, February 14, 2013

CDBANewsflash - Low Rez For Email 2

February 14, 2013
 


Member News

First American International Bank 
(2-8-13)

First American International Bank (FAIB) announced today the planned retirement of its President and CEO, Alfonso Lau. Mr. Lau will remain with the bank until March 2013 to manage an orderly transition to his successor. Mr. Lau will continue as a Director of FAIB and the holding company, First American International Corporation (FAIC). FAIB also announced that Mark Ricca will become its new President and CEO in March 2013. Mr. Ricca joins the bank from Carver Bancorp, Inc., the bank holding company for Carver Federal Savings Bank in New York City, where he was Executive Vice President. Raymond Yu, Chairman of the Board of both FAIB and FAIC, said, "We would like to thank Al for leading us for the past 13 years as we have grown our bank from one branch in Brooklyn to nine branches in three boroughs. We look forward to continuing to successfully serve our depositors and clients as we complete our transition and Mark assumes the helm."

Carver Bancorp Returns to Profitability
American Banker 
(2-8-13) 

Carver Bancorp (CARV) in New York ended a drought by posting a profitable fiscal third quarter. The $640.6 million-asset company earned $474,000 in the quarter after losing $680,000 a year earlier. "We are pleased to report our first quarterly profit since our real estate loan portfolio was severely impacted by the economic downturn," Deborah Wright, Carver's chief executive, said in a press release. "Our positive net income results for the quarter bring Carver's year-to-date results close to break-even. Our loan performance also continued to improve, with nonperforming assets declining 5% from the prior quarter and 30% year-to-date."

Community Bank of the Bay Announces Unaudited 2012 Fourth Quarter and Full Year Earnings
Community Bank of the Bay 
(2-6-13) 

Highlights include: Net income for 2012 totaled $1,389 thousand, or $0.19 earnings per share, versus a loss of $6 thousand for 2011. Total assets at December 31, 2012 were $155.1 million compared to $128.5 million at December 31, 2011. Net Interest Margin increased five basis points to 4.50 percent, compared with 4.45 percent for the 2012 Third Quarter and decreased eighteen basis points from 4.68 percent for the 2011 Fourth Quarter. "We are pleased with the Bank's progress in 2012. We have taken important steps in assuring that the Bank has a solid foundation from which to continue its growth. As we look to 2013 we expect to benefit from the increased earning asset base and anticipated cost savings from our new Oakland headquarters while we continue to make investments in personnel, especially in the important San Jose and Mid-Peninsula market areas," stated William S. Keller, President and Chief Executive Officer of Community Bank of the Bay.
 


Of Interest

FDIC's Hoenig Proposes "Full Scope" Big Bank Exams
American Banker 
(2-11-13) 

Thomas Hoenig, already well known for demanding that Wall Street banks should get back to basics, is proposing the same mantra for their examiners. The Federal Deposit Insurance Corp.'s Vice Chairman has stepped up calls for examiners to do a better job verifying a big bank's safety and soundness through a more "systematic review" of its nuts and bolts. While it would not be possible to cover as much material relative to the size of the bank as examiners see at smaller institutions, Hoenig says, the idea is to move large-bank reviews "in the direction of a community bank exam." "You can't necessarily anticipate where the risks are emerging and therefore it becomes more difficult for a targeted exam process to really work, because then it almost becomes random," he said. "What I'm advocating is you go and reassert what I call a 'systematic review' and that will give you a fundamental understanding of the risk."

MassLive
(2-9-11)

As newly-elected U.S. Sen. Elizabeth Warren, a Massachusetts Democrat, takes her seat as a member of the Senate Banking Committee, she says defining and enforcing existing rules is as important as new legislation. Asked about her priorities on the banking committee, Warren cited the need to bring “real transparency and accountability” to Wall Street and Washington. “It’s about transparency throughout the financial system. That’s all the way from how the largest financial institutions operate through the…visibility of the terms of a credit card,” she said. Warren said Basel III should be applied to large financial institutions, not small banks. “There’s no reason to believe that current regulations are not completely adequate for managing the risks posed by small banks,” Warren said. “Basel III is about risks posed to the American economy, and that means how to reduce the risks posed by the large financial institutions. Small financial institutions do not pose the same risk.”
 

OCC Newsletter Highlights State Small Business Credit Initiative
OCC Public Affairs 
(2-7-13)

The Office of the Comptroller of the Currency (OCC) published the latest edition of its Community Development Investments electronic newsletter, titled “The State Small Business Credit Initiative.” The newsletter describes how national banks and federal savings associations can implement the U.S. Department of Treasury’s State Small Business Credit Initiative (SSBCI) to increase the amount of credit available for small businesses. In addition to an overview of the SSBCI program, the newsletter discusses innovative ways states are leveraging SSBCI to meet the needs of small businesses. One case study explains how the state of Idaho engaged local leaders and benchmarked successful programs in other states to design an SSBCI program that could be used by all banks, regardless of size. Other case studies highlight two credit enhancement products – a collateral support program and loan participation program.

<nyt_headline type=" " version="1.0">New Standards for ‘Safe’ Loans
The New York Times 
(2-7-13)

An “ability-to-repay” rule, adopted last month by the Consumer Financial Protection Bureau and effective January 2014, is intended to protect borrowers from again falling victim to risky lending. But, the rule does include some accommodations for lenders that serve low- to moderate-income households, in order to encourage such households’ continued access to credit. For example, loans that don’t meet the 43 percent debt-to-income cutoff but do meet affordability standards set by Fannie Mae and Freddie Mac will still be considered qualified mortgages. In addition, balloon-payment mortgages — in which a large balance is due at the end of the loan’s term — will be treated as qualified mortgages when they are originated and held in portfolio by community-based lenders in underserved areas.


Jobs

Federal Reserve Bank of Boston - Senior Financial Instition Relationship Manager in the Regional & Community Development Department (Boston, MA)
This senior position is responsible for developing and implementing a comprehensive plan for building partnerships with New England financial institutions (FIs), including community banks, credit unions, and community development financial institutions (CDFIs), for the purpose of increasing economic and community development lending, investments, and services across the region. The incumbent builds relationships with senior FI representatives to identify industry trends and launch initiatives that lead to increased economic and community development activities. The position requires strong relationship management experience in the financial services or banking industries as well as experience underwriting community development or small business lending or providing financial services to underserved customers.

City of Columbus, Indiana - Director of Community Development (Columbus, Indiana)
The Director of Community Development plans, organizes, and directs the operations and activities of the Department of Community Development for the City of Columbus, Indiana. The Director of Community Development receives direction from the Mayor of the City of Columbus and reports directly to the Mayor. This position hires and manages staff for the Department of Community Development, consistent with relevant city civilian personnel policies and ordinances; directs the preparation of the annual budget for the department, and establishes and maintains effective working relationships with various government and private entities.

Post-Graduate Center for Mental Health - Deputy Director (New York, New York)
In this newly created role the Director will work closely with the CEO and senior management team to oversee and advance PCMH’s permanent low income housing tax credit and supportive housing portfolio, ensuring effective performance of all related operations. He/She will oversee transactions and property management, as well as participate in project development decisions and coordinate relationships between Real Estate, Finance, Legal, Social Service, and external agencies and partners. The agency seeks a seasoned professional who is highly motivated, energetic, and dedicated to helping NYC’s vulnerable populace and who has the experience and knowledge to facilitate the agency’s continued success. The incoming Director should be a sharp, hard working self-starter who is entrepreneurial in nature. This role requires an individual who has both business and politically savvy, as interaction with community and city/government officials will be another core component of the Director’s responsibilities. 

 


                             
The CDBA Newsflash is a service of the Community Development Bankers Association (CDBA). For more information on other members and the work of CDBA please visit www.cdbanks.org. Or write to us at: 1444 I. Street NW, Suite 201, Washington D.C., 20005 or info@cdbanks.org.

Contact Name: Dana Weinstein; weinsteind@pcgloanfund.org; 202-689-8935 x32

| Thursday, February 7, 2013

CDBANewsflash - Low Rez For Email 2

February 7, 2013
 


Member News

 

How Shorebank's Successor is Digging Out
Crain's Chicago Business 
(2-6-13)

The successor to ShoreBank, the high-profile urban community lender that failed in August 2010, finally got its loan machine working last year. Urban Partnership Bank, based on Chicago's South Side, blew through its $26 million loan-origination goal for 2012, lending $35 million to small businesses and real estate investors on the city's South and West sides. The $1.1 billion-asset bank, which employs 311, has set a $42 million lending goal for 2013. Bank executives said they continue to be cautious yet are finding opportunities in neighborhoods that have been devastated economically and are suffering through a rash of gun violence that has made national headlines. The good news: “We think fundamentals are stabilizing in our neighborhoods,” CEO William Farrow said in an interview. But Mr. Farrow's isn't sugarcoating the situation: “As a friend recently said, he could buy his parents' house for the same price they paid in 1963.”

Center for Financial Services Features Case Study on CDBA Member Sunrise Community Bank
Center for Financial Services 
(2-6-13)

The Center for Financial Services Innovation has launched an "Impact of Innovation" series, profiling enterprises and executives who are driving positive change across the financial services landscape. CFSI aims to highlight why innovation is beneficial to both consumers and the marketplace by providing examples of organizations leading the way on innovation and impact. As part of this series CSFI profiled CDBA member Sunrise Community Bank, located in the Twin Cities, recognizing them for their innovation in providing general purpose reloadable prepaid debit cards. As Chief Executive David Reiling stated, "The prepaid card is the only model that I’ve been able to find that can facilitate a sustainable method to provide [financial] access to low-balance, high transaction consumers and do it in a convenient and transparent way with fair pricing."
 

Debit ID Card Raises Concern of Fraud
SFGate 
(2-6-13)

Oakland officials on Friday are expected to introduce the nation's first dual purpose identification and debit card, functions intended to help the undocumented and the urban poor alike. But the cards are raising serious questions about whether they could expose users to fraud because, unlike regular debit cards, these are inscribed with identifying personal information about the card holder: a date of birth and address. "The city of Oakland is creating a debit card that violates the privacy of the users, and that's outrageous," said Paul Stephens, director of Policy and Advocacy for the Privacy Rights Clearinghouse in San Diego. A lost, stolen, or misplaced card would give strangers or thieves the very security information they would need to drain the bank account, Stephens said. MasterCard as well as the issuing bank, University National Bank, confirmed they would be involved in the card. But their respective representatives declined to provide anyone for interviews about debit card security.

Thomas Ogaard Named President and CEO of Native American Bank
Reuters 
(2-1-13)

Veteran banker Thomas Ogaard has been appointed as President and Chief Executive Officer of Native American Bank, N.A. "Tom Ogaard brings a wealth of banking knowledge and experience. We believe his background is critical at this time in our history and look forward to working under his leadership and direction," stated Lew Anderson, Chairman of the bank's Board of Directors. "We are very pleased to have Mr. Ogaard join us as President and CEO." Ogaard comes to Native American Bank from Citizens First National Bank in Princeton, Illinois, where he served as President and Chief Executive Officer for the bank and the bank's holding company. Ogaard also held executive positions at State Bank of Park Rapids, Eagle Valley Bank, Associated Bank/Signal Bank, and TCF Bank in Minnesota.  
 


Of Interest

Federal Reserve's Duke Says Small Banks Poised for Rise in Profits
Bloomberg 
(2-5-13)

Federal Reserve Governor Elizabeth Duke said U.S. community banks are poised to benefit from stronger loan demand and an eventual rise in interest rates as the U.S. expansion gains strength. Reduced interest income and weak loan demand are “consequences of a sluggish economy,” Duke said in the text of remarks for a speech in Duluth, Georgia. “As the economic recovery gains momentum, however, both of these conditions should reverse and give bankers the opportunity to deploy the liquidity and capital they have amassed to the benefit of their shareholders and their local economies.” “Credit metrics are now improving in most banks as problem loans have been addressed and resolved and new credit underwriting has been quite restrictive for a number of years,” Duke, a former community banker, said to the Southeastern Bank Management and Directors Conference.

CDFI Fund Releases Mandatory Recertification Guidelines for CDFIs
CDFI Fund 
(2-4-13)

The Community Development Financial Institutions Fund (CDFI Fund) announced details regarding the requirement that all Community Development Financial Institutions (CDFIs) originally or most recently certified prior to February 1, 2010 must apply to the CDFI Fund for recertification no later than 11:59 PM EST April 1, 2013. The recertification requirement includes but is not limited to CDFIs currently in the process of submitting an application under the FY 2013 rounds of the Community Development Financial Institutions Program or Native American CDFI Assistance Program, as required in the Notice of Funding Availability released on December 28, 2012. CDFIs that were originally certified after February 1, 2010 are not required to apply for recertification by the April 1, 2013, deadline; however any such CDFI must apply for recertification no later than 60 days after its three-year certification expires.

Munis Find Favor with Small Banks
American Banker 
(2-1-13)

The banking industry's appetite for municipal debt has been on the rise, but it's mostly small institutions that are doing the splurging, leaving the typical small bank with a far bigger allocation to munis then the typical large bank. Since 2008, when the Federal Reserve lowered its policy rate to close to zero, munis have grown by a percentage point to make up about 8.4 percent of total securities owned by banks. That's still just a small slice of the aggregate bond portfolio for an industry that has traditionally favored securities with federal backing-particularly mortgage bonds-but the median ratio of munis to total securities has nearly doubled, to 20.6 percent, reflecting the fact that many banks are piling in. Reflecting the structure of an industry populated mostly by little institutions but where assets are heavily concentrated among the largest, the median ratio for banks with less than $10 billion of assets tracks closely with the median ratio for the industry as a whole.

Deposit Pricing Linked to States' Economic Health
American Banker 
(1-31-13)

Banks in some states are paying deposit rates that are much higher than the national average, but bankers in those states shouldn't agonize too much about paying up for the funds. Louisiana, Texas, and Virginia are among the states with the highest deposits rates, but they also have relatively healthy economies, says Dan Geller, Executive Vice President at Market Rates Insight, a firm that provides pricing data and analysis to financial firms. Banks that are operating in those states should focus on lending "because it's a sign there is an increase in economic activity," Geller says. Those banks must also monitor and stay competitive with deposit pricing "to make sure they are attracting the right amount of liquidity."

Interim Rule Released for CDFI Bond Guarantee Program
CDFI Fund 
(1-31-13)

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released the interim rule for the CDFI Bond Guarantee Program. Through the CDFI Bond Guarantee Program, eligible Community Development Financial Institutions (CDFIs) or their designees will issue bonds that are guaranteed by the Federal government and use the bond proceeds to extend credit to the broader CDFI industry for community development purposes and for long-term community investments. Treasury may guarantee up to 10 bonds per year, each at a minimum of $100 million, with a total of up to $1 billion in bonds guaranteed per year. Prospective CDFI Bond Guarantee Program applicants, community and housing development trade groups, and members of the general public are invited to provide written comments on the CDFI Bond Guarantee Program’s interim rule. The interim rule describes the requirements and parameters for the program’s implementation and administration including among others: application eligibility, application review, guarantee approval, eligible uses of bond loan proceeds, reporting, and compliance monitoring.
 


Jobs

Opportunity Finance Network (Philadelphia, PA)
1) SVP, Public Relations
The SVP, Public Relations will maintain, protect, and grow OFN's reputation by developing positive story ideas demonstrating the leadership of Opportunity Finance Network and the critical contribution of CDFIs to the economy. The SVP, Public Relations will explore and guide how we can position and expand awareness and support for our work aligning capital with social, economic, and political justice. Stories will highlight opportunity finance issues, facts, OFN Member success story examples, partners, and executive spokespeople. A consistent brand voice will be reflected in all work. The SVP, Public Relations will successfully secure extensive and favorable news coverage by effectively presenting these ideas to news media writers and editors-across mainstream, business, and philanthropic outlets. The SVP, Public Relations will develop and manage processes to collect information about OFN's diverse activities throughout our lines of business and will work with lines of business to develop strategic plans that align with and support overall business objectives.

2) VP, Strategic Communications (Campaigns)
The VP, Strategic Communications will be responsible for implementing multiple integrated marketing campaigns that deliver on brand and drive business communication objectives. This position will work with appropriate departments within the organization to develop, schedule, and implement integrated marketing outreach plans and ensure that those plans are effectively targeted, on budget, and on deadline. The VP, Strategic Communications is also responsible for keeping informed about new strategies and what tactics are most effective to reach our current and potential audiences, including email best practices and internet technologies.

3) Business Analayst

OFN is one of the primary sources of financial and impact performance data on the CDFI industry. OFN collects financial and outcomes data from hundreds of CDFIs annually. CDFIs include nonprofit and for-profit, unregulated and regulated financial institutions (e.g., community development loan funds, credit unions, banks, and venture funds). We verify, manage, and analyze these data, and use them to produce multiple publications on CDFI industry performance. The Business Analyst responsibilities also include quantitative and qualitative research and studies on issues of importance to CDFIs and other stakeholders in the CDFI industry. The primary responsibilities of this position are to develop and manage OFN's CDFI performance data collection and analysis process ensuring maintenance of OFN's leadership role in CDFI performance analysis. The essential functions of the position are to design methods to collect primary data, manage the collection of data, conduct data analyses, develop and undertake issue-focused research, and disseminate findings to broad audiences.

Full details about the positions available here

The Housing Fund - Lending Officer (Nashville, TN)
The purpose of the Lending Officer is to help develop and originate The Housing Fund's lending activities in such a way that makes effective use of the agency's resources and creates a positive impact on the housing and community development needs of low and moderate income persons and neighborhoods. Full details available here.

City First Homes - President & CEO (Washington, D.C.)

City First Homes (CFHomes) seeks a dynamic and experienced community development and housing leader as President & CEO of a growing organization that is part of one of the nation’s leading community development financial institutions, located in Washington, DC. CFHomes is committed to maximizing the number of well-stewarded, permanently affordable homes in the DC region. During 2013, CFHomes plans to develop and refine lines of business that allow it to best achieve its mission. At present CFHomes stewards and protects the permanent affordability of approximately 75 DC homes, affordable on average to families at 56% of the Area Median Income. CFHomes seeks to gain scale by growing our portfolio in Washington, D.C., and expanding to the greater DC metro area. In particular we seek a President who can create new partnerships, attract new resources, and nurture opportunities. Full details available here.

Florida Community Loan Fund - Communty Development Officer (Jacksonville, FL)

The Florida Community Loan Fund (FCLF) seeks a candidate with community development experience for a newly created loan officer position. Founded in 1994, FCLF is a statewide nonprofit financial intermediary with a mission of directing financing capital to benefit low-income communities. To date, it has provided financing for affordable/supportive housing, community facilities, and economic development projects totaling approximately $100 million. This Loan Officer is responsible for carrying out lending activities in North Florida with a special focus on Duval County, sourcing community development projects for each of FCLF’s programs. Responsibilities include preparing and processing loan applications, conducting regional marketing and outreach, coordinating technical assistance to prospective borrowers, and performing due diligence and credit analysis. This position reports to the Director of Lending and is based in Jacksonville. It requires frequent travel within North East and North West Florida and occasional travel to the Loan Fund’s main office in Orlando. Additional travel to statewide and national conferences is also expected. Full details available here

 


                             
The CDBA Newsflash is a service of the Community Development Bankers Association (CDBA). For more information on other members and the work of CDBA please visit www.cdbanks.org. Or write to us at: 1444 I. Street NW, Suite 201, Washington D.C., 20005 or info@cdbanks.org.

Contact Name: Dana Weinstein; weinsteind@pcgloanfund.org; 202-689-8935 x32

| Wednesday, February 6, 2013

The Center for Financial Services Innovation has launched an "Impact of Innovation" series, profiling "enterprises and executives who are driving positive change across the financial services landscape." CFSI aims to highlight "why innovation is beneficial to both consumers and the marketplace" by providing examples of organizations leading the way on innovation and impact.

As part of this series CSFI profiled CDBA member Sunrise Community Banks, located in the Twin Cities, recognizing them for their innovation in providing general purpose reloadable prepaid debit cards. As Chief Executive David Reiling stated, "The prepaid card 'is the only model that I’ve been able to find that can facilitate a sustainable method to provide [financial] access to low-balance, high transaction consumers and do it in a convenient and transparent way with fair pricing.'" “'The fact is there are a lot of different uses and flexibilities that can happen. In and of itself, a prepaid platform can be a very convenient access point for underserved consumers.'”

Read more about CSFI's case study on how Sunrise Bank has served consumers with new prepaid offerings at their website

| Wednesday, January 30, 2013

CDBANewsflash - Low Rez For Email 2

January 30, 2013
 


Member News

Albina Community Bank Enters Into Investment Agreement with One PacificCoast Bancorp, Inc.
Albina Community Bank 
(1-30-13)

Albina Community Bank announced today that it has entered into an investment agreement with One PacificCoast Bancorp, Inc. (OPCB). The agreement, which involves a stock purchase by OPCB, will make OPCB the majority owner of the bank. The transaction is structured to raise sufficient capital to bring Albina’s regulatory capital ratios to the level required by its regulators.

Urban Partnership Bank Names Kimberly Jones to Lead Government Relations
Urban Partnership Bank 
(1-24-13)

William Farrow, President and CEO of Urban Partnership Bank, announced that Kimberly Jones, formerly Manager, Socially Responsible Banking in the Nonprofit and Foundation Banking Group, has been named as Urban Partnership Bank’s Director of Government Relations. In this role, Jones will manage relationships with national and municipal officials, government agencies, and other Community Development Financial Institutions (CDFIs) in support of the bank's mission. “Kim Jones brings a great deal of experience and commitment to her new position,” said Farrow. “She understands the role government agencies play in the success of our mission and will work hard to strengthen those relationships as we focus on building better lives and more vibrant communities,” added Farrow.
 


Of Interest

US SIF 2012 Report on Sustainable and Responsible Investing Trends in the US 
US SIF - The Forum for Sustainable and Reponsible Investment 
(1-30-13)

The report finds that $3.31 trillion in US-domiciled assets at year-end 2011 are held by 443 institutional investors, 272 money managers, and 1,043 community investment institutions that apply various environmental, social, and governance (ESG) criteria in their investment analysis and portfolio selection. $1.54 trillion in US-domiciled assets at year-end 2011 are held by more than 200 institutional investors or money managers that filed or co-filed shareholder resolutions on ESG issues at publicly traded companies from 2010 through 2012. After eliminating double-counting for assets involved in both strategies, the overall total of SRI assets is $3.74 trillion, a 22-percent increase since year-end 2009. The assets engaged in sustainable and responsible investing practice currently represent 11.3 percent of the $33.3 trillion in total assets under management tracked by Thomson Reuters Nelson. From 1995, when US SIF Foundation first measured the size of the US sustainable and responsible investing market, to 2012, the SRI universe has increased 486 percent, while the broader universe of assets under professional management in the United States, according to estimates from Thomson Reuters Nelson, has grown 376 percent.

Why Chicago's Neighborhood Banks Are Struggling 
Crian's Chicago Business
(1-28-13)

Regulators have closed 41 area banks since 2009, and virtually no new ones are taking their place. But the hits will keep coming. Industry experts predict that about 10 more community banks — small lenders identified with distinct city neighborhoods or suburbs — will fail as this economic cycle plays out. Harder to forecast is the number of small banks that will sell to bigger institutions over the next five years. But bankers and industry observers say there will be many. That's because the bankers who stuck it out are struggling to generate new loans and contending with narrower profit margins due to ultra-low interest rates and regulatory demands for more capital. "Who the hell wants to get into a high-risk, heavily regulated industry with relatively poor liquidity at single-digit returns?" says Harrison Steans, who made a fortune worth hundreds of millions of dollars over 45 years in Chicago-area community banking and now is chairman of the executive committee at the parent of Rosemont-based Cole Taylor Bank. Given that harsh reality, Chicago's community bankers must forge a new reason for being.

Stop Making Excuses for the CRA
American Banker (Opinion) 
(1-28-13) 

CRA remains a point of contention. Its proponents, most recently Ellen Seidman and Mark Willis in American Banker, attack research purporting to find a link between the CRA loans and ultimate credit loss. CRA supporters implicitly share the official explanation that greed got the better of lenders and regulators were powerless to stop them. CRA purportedly reflected a concern that local bankers were not lending "enough” to good borrowers in their communities or neighborhoods, which were typically characterized by ethnic and/or racial concentrations. This systemic market discrimination supposedly persisted throughout the last century. During the last decade, while greedy mortgage lenders were originating about 20 million subprime loans to borrowers of dubious credit, CRA proponents implicitly argue that lenders would still have discriminated systemically against profitable CRA-qualifying borrowers but for the requirement. Is any of this credible? In this opinion piece, Kevin Villani argues no.

How Banks Should Finance the Social Sector
Harvard Business Review
(1-22-13)

In this Harvard Business Review blog post, author John Canady argues that banks have a role to play in the social sector, but not the one commonly thought of. Instead of trying to develop a convincing business case to provide unsecured lending to higher-risk charities, banks should use their own philanthropic capital to implement the new models that others have developed to address this market failure. Banks' philanthropic capital can be "recycled" in the form of loans to different charities over and over again, thereby achieving exponential impact over a one-off donation. Bank CEOs are under increasing scrutiny to demonstrate the "good side" of banking. Innovation in social finance should be an integral part of that story. Banks already have the necessary evaluation processes, highly skilled talent, and global reach. And they also have sophisticated corporate philanthropy and CSR programs. By combining the two in a new unsecured-lending-to-charities model, banks could achieve much more social impact than they are today.
 


Jobs

Greater Minnesota Housing Fund - Chief Operating Officer (St. Paul, MN)
The Chief Operating Officer (COO) is a management team member, reports to, and plays a complementary leadership role with the CEO. The COO provides a critical link to management team members and staff. The COO manages day to day operations, program, and project priorities, facilitates staff coordination, maintains accountability, and helps align various human and financial resources to achieve organizational goals. The COO ensures that efficient and effective operating systems are implemented, data and documents are maintained, organized, and accessible, that critical informational technology is in place and utilized, and essential analysis and reports are regularly produced to guide management decision making. The COO maintains general oversight of organization work plans, ensures that programs and projects are implemented according to plan and on deadline, and provides structure to personnel and work flow to ensure effective operations. The COO also assists the CEO with board relations, community relations, and interagency relations as needed given the internal dynamics that affect key outcomes and working partnerships. The COO helps to envision the future of Greater Minnesota Housing Fund by setting near term and long term goals, and/or identifying strategic opportunities, taking and inspiring action to achieve goals, and providing a strong day-to-day leadership presence that bridges all projects and all teams. In partnership with the CEO and management team, the COO will keep Greater Minnesota Housing Fund strategic plan relevant and implement new processes and approaches to achieve it. Full details available here

Pro Mujer - Chief Financial Officer (New York, New York)
Pro Mujer, an innovative global organization undergoing rapid growth, is seeking a passionate, seasoned Chief Financial Officer with strong competencies in finance, microcredit, capital markets, operations, and organizational effectiveness. Reporting to the President & CEO, the CFO is a central member of the senior leadership team and provides leadership, input, and influence across the entire organization. The CFO will directly manage a finance team of five in New York and functionally manage Finance Directors in five countries. Full details available here


                             
The CDBA Newsflash is a service of the Community Development Bankers Association (CDBA). For more information on other members and the work of CDBA please visit www.cdbanks.org. Or write to us at: 1444 I. Street NW, Suite 201, Washington D.C., 20005 or info@cdbanks.org.

Contact Name: Dana Weinstein; weinsteind@pcgloanfund.org; 202-689-8935 x32

| Wednesday, January 23, 2013

CDBANewsflash - Low Rez For Email 2

January 23, 2013
 


Member News

Southern Bancorp Community Partners Names New Community Development Officer
The Helena Arkansas Daily World
(1-23-13)

Kimberly Hall Clement recently joined the staff of Southern Bancorp Community Partners in Helena as community development officer. Clement will be responsible for supporting and promoting community development initiatives in the areas of health, education, housing, leadership, economic development, and other priorities the Strategic Community Plan defines. Southern Bancorp Community Partners works directly with its affiliate Southern Bancorp, a U.S. Treasury-certified community development bank, to revitalize underserved communities in the Mid-South. Together, they seek to reduce poverty by improving education and economic opportunities for individuals and families. 
 


Of Interest

Affordability for Renters Worsens "Across Board" in Philadelphia Area
Federal Reserve Bank of Philadelphia
(1-23-13)
 
While housing affordability challenges were greatest for extremely low-income renters, affordability indicators worsened across the board for renters in the Third Federal Reserve District between 2005 and 2010, according to a study by the Federal Reserve Bank of Philadelphia’s Community Development Studies Education Department. Of the 1.4 million renter households in the Third District in 2010, half spent more than 30 percent of their income on gross rent (including utilities), a level typically referred to as a housing cost burden. This share drifted up gradually from 44 percent in 2005. The level was highest for extremely low-income renters earning no more than 30 percent of the local median family income. However, the rates for very low-income and low-income renters grew by 5 and 10 percentage points, respectively, during the period. In total, 29 percent of renter households in the Third District had a severe housing cost burden in 2010, an increase of 5 percentage points in five years.
American Banker
(1-17-13)
 
"Force-placed insurance" appears 478 times in the Consumer Financial Protection Bureau's mortgage servicing rules released last Thursday. But the agency's proscriptions do not touch on many of the most controversial aspects about how banks buy the product. That's the broad opinion of consumer advocates, insurance market observers, and Assurant, the largest insurer in the market for the specialty product. The force-placed insurance rule generally sticks to a proposal that the CFPB floated last year and the terms of the national mortgage servicing settlement, neither of which has had a significant effect on industry practices. This may reflect at least in part the bureau's jurisdictional limits; under Dodd-Frank it is authorized to regulate mortgage servicing but not insurance — an industry that largely comes under the purview of state regulators.
 

CFPB Servicing Rules Could Force Institutions Out of the Business
American Banker 
(1-17-13)

The Consumer Financial Protection Bureau's new mortgage servicing rules may force some servicers to exit the business altogether or simply outsource servicing of defaulted loans to third-parties, experts said last Thursday. In many ways, the sweeping rules were as industry players expected, cracking down on everything from how servicers communicate with delinquent borrowers to when they can initiate a foreclosure proceeding. But some servicers said the rules, which were released Thursday and go into effect in a year, might still upend the current business model, with many lenders deciding the cost to comply with the regulations is too prohibitive.
 


Jobs

Albina Community Bank - Senior Credit Administrator (Portland, OR)
This position is responsible for administering and overseeing the Bank’s loan portfolio, including consumer, commercial, and commercial real estate loans.  Responsible for loan approvals, portfolio status, collections, and overall monitoring of loan files.  Develops and recommends loan portfolio objectives, loan policies, and lending procedures. Provides guidance and direction to officers engaged in lending activities. Plans for, coordinates, and manages directly the Bank’s loan decisioning software and oversees all incoming participations. Full details available here


                             
The CDBA Newsflash is a service of the Community Development Bankers Association (CDBA). For more information on other members and the work of CDBA please visit www.cdbanks.org. Or write to us at: 1444 I. Street NW, Suite 201, Washington D.C., 20005 or info@cdbanks.org.

Contact Name: Dana Weinstein; weinsteind@pcgloanfund.org; 202-689-8935 x32

| Thursday, January 17, 2013

CDBANewsflash - Low Rez For Email 2

January 17, 2013
 


Member News

Start Bank Sees Return On Investment
New Haven Indpendent
(1-11-13)

Start Community Bank’s efforts to foster financial literacy and work with first-time account holders have paid off - in the form of an award of nearly $300,000 from the federal government. The two-year-old local community lender announced that news recently at an event at its Whalley Avenue branch. Start was one of 59 banks awarded with a Bank Enterprise Award from the Community Development and Financial Institutions (CDFI) Fund, part of the U.S. Department of the Treasury. Start Community Bank will receive an award of $287,834, which will go toward a number of the young lender’s programs. Those include “Loot Camp,” which teaches teens how to save money, and work with Columbus House to help people who are homeless to establish bank accounts.

Nickelodeon Star and BankPlus Present Check to Friends of Children's Hospital
BankPlus
(1-11-13)

With the help of Nickelodeon star SpongeBob SquarePants, BankPlus presented a check for $148,785.40 to Friends of Children’s Hospital, representing the first year’s proceeds from the bank’s Friends of Children’s Hospital CheckCard program. “On behalf of all the physicians, nurses, staff - and most of all - on behalf of the children who are patients at Batson Children's Hospital and their families, we say thank you to BankPlus,” said Dr. Rick Barr, Suzan B. Thames Professor and Chair of Pediatrics at Batson Children’s Hospital. “Not only for the show of support demonstrated by the Friends of Children's Hospital Checkcard program, but for the many programs that BankPlus supports every day that benefit children. The funds raised will help our mission of providing the best possible health care to all the children of Mississippi.” BankPlus introduced the charitable option for consumers in November of 2011, returning  proceeds from the Friends CheckCard directly to Friends of Children’s Hospital. The Friends CheckCard program is the first of its kind for both BankPlus and Friends.  
 


Of Interest

UNC Report: Still No Evidence to Discredit CRA
UNC Center for Community Capital
(1-16-13)

A report released by the UNC Center for Community Capital details flaws in the methodology and conclusions of a new paper seeking to discredit the Community Reinvestment Act, enacted in 1977 to encourage regulated financial institutions to meet the credit needs of their communities in a safe and sound manner. Researchers urged policymakers and practitioners to resist being distracted by a widely rejected thesis promoted in a December paper issued by the National Bureau of Economic Research. The "'blame the CRA' story has been refuted by industry leaders and researchers time and time again," authors said in their report, Debunking the CRA Myth Again. "Rather than trying to place blame where none exists, we argue that the focus of the debate should be on how CRA can be modernized and improved to better reflect the current financial services landscape and meet the continuing credit needs of America's communities."

A Better Way for Banks to Monitor Credit 
McKinsey Quarterly
(1-15-13) 

When banks carefully track small, significant changes in their customers’ financial situations, a study from McKinsey finds that these institutions can improve their fortunes and compete more effectively. Much more effectively, in fact.First-Mover Matters: Building credit Monitoring for Competitive Advantage, a report from McKinsey’s risk practice, shows that one way is to tap analytics and specialists to spot quantitative and even qualitative early-warning signs of borrower trouble. Another approach is to set up formal triggers for timely intervention that can guide customers back to financial health or limit further losses when the situation isn’t likely to improve. McKinsey argues that better credit monitoring could be one of the main ways that capital-strapped banks can improve their business model.

Small Banks Turn Themselves Around and Go on the Block
American Banker
(1-14-13)

Another large community bank is eyeing an exit after a breakthrough year. The announcement by Virginia Commerce Bancorp (VCBI) that it had hired Sandler O'Neill to help it explore "strategic alternatives to enhance shareholder value" — including, of course, a sale — puzzles some, considering it was just hitting its stride. Similar questions could be asked of Hanmi Financial in Los Angeles, which hired an investment banker last week. The decisions show the temptation to sell for selective banks in the right markets — ones that are healthy enough to attract buyers, yet not so powerful that they are guaranteed to thrive. The calls are close ones to make.

 


Jobs

Local Iinitatives Support Corporation - Vice President & Chief Credit Officer (New York, New York)
LISC is seeking a qualified candidate to fill the position of Vice President and Chief Credit Officer. The Vice President and Chief Credit Officer will be a member of LISC's Lending Department, and will report to LISC's Senior Vice President for Lending. Full details available here

Sunrise Community Banks - Prepaid Database Architect (Sioux Falls, South Dakota)
In coordination with the SVP – Prepaid and Director of Prepaid Operations, the Prepaid Database Architect will maintain the prepaid database by determining structural requirements, developing and installing solutions, and consulting and developing reporting for prepaid debit card programs. Full details available here

Inter-American Development Bank - Treasury & Risk Lead/Senior Specialist-Quantitative Analysis (Washington, D.C.)
The IDB's Office of Risk Management (RMG) is in charge of managing credit, market, and operational risk within the Bank. RMG seeks to hire a talented and seasoned quantitative risk management professional to lead and implement initiatives and work programs in the Treasury risk area. The candidate will lead the development of innovative and effective risk management methodologies, models, and analytical solutions to support the Bank's treasury risk management activities in a highly complex and dynamic financial market environment. He/she will, individually or as project team leader, implement work programs and projects to strengthen the framework for analyzing, measuring, and managing risks. Full details available here

NCB Capital Impact - Project Manager, The Green House Project (Crystal City, VA)
The Project Manager works with long-term care organizations by providing the day-to-day planning and technical assistance related to implementing The Green House model of care. The Project Manager educates and advises on person-directed practices, as they relate to financial feasibility analysis, physical environment, and operational policies and procedures. Project Managers work with Green House adopters and The Green House Project team to ensure that activities promote and support best practices for sustaining the values and essential practices of the model. Full details here

CARS - Director of Ratings (Flexible location)
The Director of Ratings is responsible for the management and development of CARS Inc’s ratings activity as a line of business and oversees the quality of ratings and the integrity of the rating process. The position requires strong demonstrated skills in the following areas: strategic leadership, line of business management, development and maintenance of multi-faceted client relationships with investors and ratees with a high degree of sensitivity, as well as experience in financial underwriting and/or analysis. Because CARS™ rating work is done through a network of highly skilled, geographically dispersed professional staff and consultants, the Director of Ratings must also be highly organized and communicative to manage decentralized specialists involved in demanding and complex processes. Full details available here


                             
The CDBA Newsflash is a service of the Community Development Bankers Association (CDBA). For more information on other members and the work of CDBA please visit www.cdbanks.org. Or write to us at: 1444 I. Street NW, Suite 201, Washington D.C., 20005 or info@cdbanks.org.

Contact Name: Dana Weinstein; weinsteind@pcgloanfund.org; 202-689-8935 x32

| Wednesday, January 16, 2013

A report released by the UNC Center for Community Capital details flaws in the methodology and conclusions of a new paper seeking to discredit the Community Reinvestment Act, enacted in 1977 to encourage regulated financial institutions to meet the credit needs of their communities in a safe and sound manner.

Researchers urged policymakers and practitioners to resist being distracted by a widely rejected thesis promoted in a December paper issued by the National Bureau of Economic Research. The "'blame the CRA' story has been refuted by industry leaders and researchers time and time again," authors said in their report, Debunking the CRA Myth Again. "Rather than trying to place blame where none exists, we argue that the focus of the debate should be on how CRA can be modernized and improved to better reflect the current financial services landscape and meet the continuing credit needs of America's communities."

Read the full report for more information about the study and its conclusions. 

| Wednesday, January 16, 2013

When banks carefully track small, significant changes in their customers’ financial situations, these institutions can improve their fortunes and compete more effectively. First-Mover Matters: Building credit Monitoring for Competitive Advantage, a report from McKinsey’s risk practice, shows that one way to better monitor credit is to tap analytics and specialists to spot quantitative and even qualitative early-warning signs of borrower trouble. Another approach is to set up formal triggers for timely intervention that can guide customers back to financial health or limit further losses when the situation isn’t likely to improve. McKinsey argues that better credit monitoring could be one of the main ways that capital-strapped banks can improve their business model.

Read the full report from McKinsey to find out how banks can significantly reduce their exposure.

| Friday, January 11, 2013

Although launched only two years ago, Start Community Bank has already been recognized for its work with low- and moderate-income communities in New Haven, Connecticut. A certified community development bank and CDBA member, Start received a Bank Enterprise Award of over $285,000 from the U.S. Department of the Treasury's Community Development Financial Institution's Fund. 

Read more about Start Community Bank and its local lending work via this story from the New Haven Independent. 

| Thursday, January 10, 2013

CDBANewsflash - Low Rez For Email 2

January 10, 2013
 


Member News

Rep. Darrin Williams Named New Southern Bancorp CEO
TalkBusiness
(1-9-13)

Effective Feb. 1, 2013, Darrin Williams, a lawyer and current Democratic Arkansas State Representative, will be the new CEO of Southern Bancorp, Inc. “Darrin’s financial skills, legal experience in securities and financial regulation and history of advocating for the rights of the disadvantaged in both his law practice and his political career make him the perfect choice to lead Southern Bancorp in its mission to build communities and change lives,” said Walter Smiley, current CEO and board chairman of Southern Bancorp, Inc. Williams is a principal at the law firm of Carney Williams Bates Pulliam & Bowman PLLC, where his work focuses on protecting consumers. “My career focus of protecting consumers from the abuses of Wall Street banks has prepared me well to show how banking should and can be done to help communities and people,” said Williams. “I don’t know of a better bank to make that point than Southern.”

Bankruptcy Judge Gives Charles Street AME More Time to Submit Amended Reorganization Plan
Boston Globe
(1-4-13)

The judge in the Charles Street African Methodist Episcopal Church bankruptcy case Friday gave the congregation until Jan. 18 to file an amended reorganization plan, over the protests of bank lawyers who called the church’s proposals unrealistic and based on erroneous figures. It was the latest skirmish in what has turned into a long court battle between the church and OneUnited Bank. Charles Street AME filed for federal bankruptcy protection last March, after it fell behind on payments for nearly $5 million in OneUnited loans and the bank threatened to auction off the the historic Roxbury church. “There is no plan here that’s possibly feasible,’’ said Gayle Ehrlich, a lawyer for OneUnited, in a withering indictment of the church’s financial records in US Bankruptcy Court in Boston. “This case is way off track and can never get on track.” Ehrlich criticized the church’s proposal to repay its debts to OneUnited over 30 years as unheard of with a business loan — only home mortgages and farm equipment purchases are afforded such long pay-back periods, she said. Ehrlich also restated the bank’s position that the First Episcopal District of Philadelphia, which includes Charles Street AME, should live up to its commitment as a guarantor on the debt.

Southern Bancorp Hits Milestone of $10 Million in Community Grants
The Sacramento Bee
(1-3-13)

Southern Bancorp, the nation's 5th largest community development bank with more than $1 billion in assets, has reached the $10 million mark in grants to local communities. In addition to providing targeted grants of $10 million from bank profits for support of local community development goals, Southern has originated more than $3 billion in loans in the high-poverty rural markets it has served since 1988. Southern focuses philanthropic efforts in Clark County, Phillips County and Mississippi County in Arkansas and Coahoma County in Mississippi. "Southern Bancorp is a dynamic financial institution," said John Olaimey, leader of Southern's banking operations. "Because of our rural development focus and the partnership with our nonprofit affiliate, we can plow bank profits back with a multiplier effect into our communities, significantly improving opportunities by providing a combination of traditional and non-traditional capital to drive fundamental change."
 


Of Interest

Consumer Financial Protection Bureau Releases New Mortgage Rules
Washington Post 
(1-10-13)

The Consumer Financial Protection Bureau on Thursday released the first of several far-reaching changes to the nation’s mortgage market, limiting upfront fees and curtailing practices such as interest-only payments that can leave homeowners stuck with unsustainable loans. The agency also set standards for how much income a consumer must have to obtain a mortgage. This marks the first time the government has spelled out what constitutes a “qualified mortgage,” an effort to prevent the widespread toxic loans that hurt millions of Americans during the housing crisis. Banks that offer qualified mortgages will be protected from lawsuits if they adhere to the criteria. The consumer agency hopes that these changes will drive the entire industry to live by the tighter standards that have taken hold since the crisis, ensuring safer loans but potentially limiting the number of people who can qualify to buy a home.

See additional coverage by CNNMoney and American Banker

Small Bailed-Out Banks Still Lagging in Main Street Loans
BusinessWeek
(1-9-13)

Community banks that got government money through a Department of Treasury program to boost lending to small businesses increased loans by $740 million in the three months ended in September, according to the most recent data (PDF) released by the agency on Tuesday. But those lenders that used the money to pay off earlier government bailouts were slower to get money out the door than others. A look at the latest numbers shows the TARP banks have been lending less enthusiastically than those institutions that didn’t use the SBLF to repay bailouts. In aggregate, the TARP banks in the program have increased lending by $1.13 to small businesses for every $1 of loan fund money they got, according to a Bloomberg Businessweekanalysis. (Under the program, that’s enough to reduce the dividend a lender owes the government to just 1 percent—cheap money for banks.) The lenders who didn’t have the earlier TARP money, by contrast, boosted loans by more than $3 for every dollar of SBLF capital they got.

JP Morgan Perspectives on Progress - The Impact Investor Survey
JP Morgan
(1-7-13)

JP Morgan's third annual survey on the impact investment market sheds light on this nascent and growing market by collecting data on investors’ expectations and experiences in 2012, as well as their plans for 2013. Respondents report that they committed $8 billion (USD) to impact investments in 2012, and that they plan to commit $9 billion (USD) in 2013. Most respondents report that their portfolios’ financial and impact performance are in line with their expectations, with nearly two-thirds of the sample targeting market rate financial returns on their impact investments. Ninety-six percent of respondents measure their social and/or environmental impact, and four out of five fund managers highlight the importance of impact measurement for raising capital. While respondents believe the market continues to be challenged by a lack of appropriate capital across the risk/return spectrum and a shortage of high quality investment opportunities, they indicate progress is being made evenly across these and other indicators of market growth.

CohnReznick Releases Study on Low-Income Housing Tax Credit Program
CohnReznick LLP
(1-4-13)

The Low-Income Housing Tax Credit Program at Year 25: An Expanded Look at Its Performance offers a robust analysis of LIHTC property and portfolio performance, building upon the initial study released by Reznick Group, P.C. in August 2011. This follow-up report, now issued by CohnReznick LLP due to Reznick Group's recent merger with J.H. Cohn, delivers a comprehensive review of  portfolio operating results based on key property segments and U.S. geographies. It also provides an analysis of fund investment performance and portfolio composition.


Jobs

Opportunity Fund - Reporting and Compliance Officer (San Jose, CA)
Opportunity Fund is seeking a qualified Reporting & Compliance Officer that will take ownership and responsibility for timely and accurate reporting and compliance for government contracts and awards, corporate licenses and governance, debt and investor covenants, and other external and internal stakeholders. The Reporting & Compliance Officer will also be responsible for performance management tools, such as balance scorecards and internal compliance. This is a newly created position that reports to the CFO (with dotted reporting line to the President and COO); this position will require in-depth knowledge of program metrics, outcomes, operations/process and databases/spreadsheets, and will partner closely with Program, Development and Finance staff to ensure accurate and timely compilation of program and organizational information that enables Opportunity Fund to maintain critical funding, loan capital, licenses and/or ratings. Full details available here

Calvert Social Investment Foundation, Inc. - Director of Underwriting (Bethesda, MD)
In direct report to the Senior Director, Underwriting, the Director, Underwriting is responsible for monitoring risk and performance issues for a portfolio of borrowers, including full due diligence packages for new or updated credit requests. This portfolio is comprised primarily of Community Development Financial Institutions and affordable housing developers and lenders, as well as direct business investments in social enterprises, affordable housing projects, and community facilities.  Working closely with Business Development Loan Officers, the Director of Underwriting will also be fully involved in underwriting and structuring new transactions. Full details available here

Enterprise Community Partners - Innovation Analyst (New York, NY)
The Innovation Analyst provides project management expertise to support and advise the Senior VP, Innovation in all matters necessary for the effective operation of the Enterprise innovation platform, including supporting the broader innovation team and advancing innovation efforts throughout Enterprise. The Innovation team, which holds an evolving and expanding role within Enterprise, currently focuses on the following four priority areas: drive innovation by leading 2-3 priority efforts and support innovation efforts lead by others; spot market changing and scaling opportunities both within and outside of Enterprise; highlight, track, and disseminate innovation work happening throughout Enterprise, and ensure that Enterprise culture supports and inspires innovation internally and externally. Full details available here

City First Bank of D.C. - multiple positions (Washington, DC)
1) Chief Lending Officer - Will lead the business development/calling program of the bank which will be geared toward growth in new loan and deposit customer relationships, strengthening and expanding existing customer relationships, increasing the bank’s outstandings and profitability, and elevating the Bank’s reputation in the marketplace. The CLO will lead the lending team in developing new loans and deposits in conformity with approved policies and procedures, including underwriting and structuring of new loans and in managing existing loan and deposit relationships. This is a senior management role and will be active in strategic efforts and will lead and participate in several committees involved in the management of the bank, such as Management Loan Committee, Directors’ Loan Committee, Senior Staff Meetings, and Internal ALCO. 

2) Chief Credit Officer - Responsible for managing the credit administration and loan documentation functions of the Bank’s loan portfolio. This role will also ensure that the lending culture of the bank is effectively communicated, implemented, and reinforced within all lending areas as well as establish written loan and credit policies, practices. and procedures which meet regulatory safety and soundness standards for Board approval. The CCO will oversee the bank’s non-performing and underperforming loans and assets to ensure acceptable level of problem loans, past due loans, and loan documentation issues are managed. The CCO will provide management reports on all loan and Allowance for Loan and Lease Loss (ALLL) calculations and making recommendations to executive management and the Board of Directors for quarterly allocations to the Allowance for Loan Losses. This is a senior management role and will be active in strategic efforts and will lead and participate in several committees involved in the management of the bank, such as Directors’ Loan Committee, Management Loan Committee, Senior Staff, and Internal ALCO. 

3) Relationship Manager - Responsible for soliciting new business and managing customer relationships to real estate customers, small businesses, and not-for-profit organizations (including churches and charter schools, among others). Real estate activities generally include loans for the acquisition or renovation of nonresidential owner-occupied real estate. In addition, the prospects include office, retail, shopping strips, warehouse, industrial, facilities, and land development, primarily for investment purposes. The position reports to the Chief Lending Officer. The Relationship Manager is also responsible for all phases of loan and deposit production, including lead generation, underwriting, closing, relationship management, and portfolio monitoring and is an officer of the Bank, participating in the Directors’ Loan Committee (DLC) of the Bank, and other staff meetings as required.


                             
The CDBA Newsflash is a service of the Community Development Bankers Association (CDBA). For more information on other members and the work of CDBA please visit www.cdbanks.org. Or write to us at: 1444 I. Street NW, Suite 201, Washington D.C., 20005 or info@cdbanks.org.

Contact Name: Dana Weinstein; weinsteind@pcgloanfund.org; 202-689-8935 x32

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