Skip to content

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.)

FDIC hosts Minority Depository Institutions Conference

The 2019 Interagency Minority Depository Institution and CDFI Bank Conference was hosted by the FDIC in partnership with the Federal Reserve Board and the Office of the Comptroller of the Currency. The two-day conference, held June 25–26, 2019, included discussions on a wide range of topics related to minority depository institutions (MDIs), such as innovation, supervision, cybersecurity, and federal programs supporting MDIs.

A new research study of Minority Depository Institutions was also released. A key conclusion of this study is that MDI financial performance has significantly improved over the past five years, particularly in terms of revenue generation and loan performance. Between 2001 and 2018, the number of Asian-American, Hispanic-American, and Native-American MDIs increased; the number of African-American MDIs declined by more than half to 15 percent of all MDIs at year-end 2018. Reflecting an overall industry trend in consolidation, the number of MDIs declined 31 percent, but consolidated more gradually overall compared to community banks, which declined by 33 percent.

The study also found that, despite this consolidation, more than three-fourths of the assets of merged MDIs and 86 percent of the assets of failed MDIs, remained with surviving MDIs. In addition, the study concludes that MDIs originate a greater share of mortgages than non-MDIs to borrowers in low- and moderate-income census tracts and in census tracts with larger shares of minority populations. The same is true for MDI origination of guaranteed Small Business Administration 7(a) loans.

Filed under: 

Training View All

Penalties View All

Search Top Stories