In early September, the FDIC sent out a financial institution letter requesting comments from Chief Executive Officers and Chief Financial Officers of community banks on interest rate restrictions applicable to institutions that are under capitalized. This letter applies to community banks with total assets less than 1 billion dollars and are FDIC insured.
Please join us in welcoming Courtney to our sales team as the new Director of Marketing.
We are excited to be attending the Jack Henry Annual Conference (JAC) and TechConnect once again this year! Definitely looking forward to spending a few days in beautiful San Diego, California in less than 25 days!
Joe Ehrhardt, CEO and Founder of Teslar Software, participated in the 2019 Banking and Finance Symposium hosted by The University of Mississippi last week.
In June of 2019, the FDIC released their annual report on the performance of Minority Depository Institutions (MDI). This report has been produced annually since 2001 and provides an excellent outlook on how MDIs are doing across the country.
The Independent Community Bankers of America (ICBA) announced that they are starting up the second year of the ICBA ThinkTECH Accelerator program. At the beginning of 2019, Teslar participated in the inaugural class of the ThinkTECH accelerator.
Community banks are fundamental elements within communities across the country. Whether they are funding school fundraisers, creating local scholarship funds, or donating to local charitable organizations, community banks have always lent a helping hand to those in need.
Wishing you and yours a very Happy & Safe Labor Day!
We are excited to share that ICBA has invested in our company, bringing the total seed capital raised to $2 million. We plan to use the capital to add staff to support our growth while maintaining a high standard of customer support and service.
A trend on the rise in community banking is that of bank mergers and acquisitions (M&A's). The number of M&A's has increased almost every year since 2011, growing exponentially over the past few years. A staggering 4.6 percent of all banks exited the industry through mergers and acquisitions in 2018 alone.1