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Financial Institutions

Are You Financing OREO Property?

Are You Financing OREO Property?

By Sandy Sporleder | December 19, 2018
Reading Time: 3 minutes
Beginning in 2019, with the issuance of Accounting Standards Update 2014-09, community banks will have to change the way they account for seller financing of Other Real Estate Owned (OREO property). This supersedes the current methods used under Accounting Standards Codification (ASC) 360-20, the long-standing Statement of Financial Accounting Standards …

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GAAP Update: New Lease Standards will Affect Banks

GAAP Update: New Lease Standards will Affect Banks

By Pinion Editorial | December 19, 2018
Reading Time: 2 minutes
Understanding the Impact on Balance Sheets & Borrowers You’ve probably already heard that FASB has updated the new lease standards, but what does the new standard mean for a bank? The effective date for non-public entities is December 15, 2019 (i.e., January 1, 2020). Early adoption is permitted. Banks will …

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Loan Fraud

An Ounce of Prevention (or Inspection) will Alleviate Loan Fraud

By Sandy Sporleder | December 19, 2018
Reading Time: < 1 minute
Now is not the time to waive, omit, or procrastinate solid credit practices – such as inspections, onsite verifications, or similar procedures. An ounce of prevention or inspection will alleviate loan fraud. The last few years have been challenging for all Ag producers. Challenging commodity prices, tariffs, weather, changing consumer …

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Financial Data Protection

How Safe is Your Financial Data?

By K·Coe Editorial | October 3, 2018
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Reading Time: 2 minutes
Recent national cybercrime headlines: “Cybercriminals Obtain Employee Credentials to Conduct Payroll Diversion” “Business Email Compromises Business Data” “Increase in W-2 Phishing Campaigns” Imagine if you lost access to a year’s worth of financial information – accounting records, tax returns, audit trails – that could either never be fully recovered, or …

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