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Financial Institutions

Aggregated Transactions

Clarity for Marking the Aggregated vs. Multiple Transactions Box

By K·Coe Editorial | July 17, 2019
Reading Time: < 1 minute
By Heather Campbell, CIA While we are told to “aggregate” transactions on a Currency Transaction Report (CTR), that does not mean we are to mark the aggregated transactions box.  The “multiple transactions” box (Part I Box 3) is marked any time there are multiple cash-in or cash-out transactions of any …

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Updates to ACH Rules

Updates to ACH Rules

By K·Coe Editorial | July 15, 2019
Reading Time: 2 minutes
By Rhonda Broekemeier In the world of payment processing the rules are in constant evolution. Are you aware of the recent changes that impact financial institutions? NACHA has new rules and amendments in 2019 your bank must know to remain ACH compliant.   Effective Jan. 1, 2019:   Automated Clearing …

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Adoption of ASU 2016-01 – Financial Instruments

Adoption of ASU 2016-01 – Financial Instruments

By K·Coe Editorial | June 5, 2019
Reading Time: 2 minutes
By Kati Barnhill Many community banks have early adopted ASU 2016-01 – Financial Instruments – in which equity securities, with readily determinable fair values, are marked to fair value each quarter. While the ASU does not become effective until December 15, 2019, it can be advantageous to early adopt as …

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Family Business Coaching small business

IRS Issues Small Business Reminders

By K·Coe Editorial | May 13, 2019
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Reading Time: < 1 minute
‘Small Business Week’ prompted the IRS to publish reminders for entrepreneurs and businesses on how they can better estimate their tax situation and plan ahead.  There are some new credits available, and new guidelines as a result of the Tax Cuts and Jobs Act of 2017 that can help generate …

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Loan Origination Fees: to Recognize Immediately or Amortize?

Loan Origination Fees: to Recognize Immediately or Amortize?

By K·Coe Editorial | May 8, 2019
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Reading Time: 2 minutes
If your bank immediately recognizes loan origination fees and costs directly to your income statement, you are not alone. This is a common practice among many community banks. However, this practice is not in accordance with Generally Accepted Accounting Principles (GAAP). Watch this video to see Kati Barnhill explain the misconception …

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Family Farm

Transitioning the Family Farm – a Bountiful and Satisfying Harvest for All

By K·Coe Editorial | May 8, 2019
Reading Time: 4 minutes
The family farm business is more than a job, it’s a lifestyle choice for millions of Americans. Most farmers or ranchers spend 50 years or more on their farms, where land is taught to be both a lifestyle and legacy. Farming is idealized, romanticized, and who these individuals choose to …

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