Banker's Toolbox Announces — ACQUISITION OF LOAN LOSS RESERVE POWERHOUSE, MAINSTREET TECHNOLOGIES
Banker's Toolbox, Inc., leaders in compliance solutions for financial institutions, announced the acquisition of Georgia-based MainStreet Technologies (MST). MST is an industry leader in the loan risk management space. This acquisition adds to a strong and growing portfolio of compliance-related solutions and will continue to enhance the value Banker's Toolbox brings to both their customers and the industry. (Read full press release here.)
First Quarter Call Report announcement
The FDIC has issued FIL-22-2018 with highlights of the information to be included in the March 31, 2019, Call Report, which generally must be filed by Tuesday, April 30. The Call Report for this quarter includes revisions that primarily address changes in the accounting for credit losses under the Financial Accounting Standards Board's Accounting Standards Update No. 2016-13 (ASU 2016-13).
Institutions should review FIL-21-2019 and the accompanying Supplemental Instructions for further information on the first quarter 2019 Call Report.
The FFIEC agencies are continuing to consider the comments received on a proposal to reduce reporting for certain institutions with less than $5 billion in total assets in the Call Report (see FIL-74-2018 dated November 19, 2018). The proposal includes revisions to the FFIEC 051 reporting requirements that, if finalized, would take effect no earlier than September 30, 2019.