Alabama Bank News

by Chris Couch, McGlinchey Boards frequently report anxiety around data security, and question whether their policies and procedures are sufficient. With the average direct cost of a security incident approaching $4 million and the indirect, reputational costs beyond calculation, it’s easy to understand why. ...Read More

Question: I have spent the afternoon looking for a simple “definition” of what a distressed and underserved community is. I have found bits and pieces, and I have found the updated lists for 2018, but we are undergoing some policy updates, and would like ...Read More

Question: By what day do we have to file the continuing activity SAR? Is it Day 90 or Day 120?   Answer: The guidance provides that “Financial institutions with SAR requirements may file SARs for continuing activity after a 90-day review with the filing ...Read More

by Richard T. Hills and Steffen Pelletier Arters, Waller In light of the recent publicity surrounding the announcement of the “merger of equals” between BB&T and SunTrust, the successful integration of the venerable southern institutions has been a topic of extensive conversation and speculation. ...Read More

by Rob Nichols While there is still a healthy — and appropriate — debate on whether cannabis should be legalized at the federal level, there is growing consensus that something must be done to address the cannabis conundrum affecting banks. The need for a ...Read More

Question: We have a potential borrower who has several buildings we will be taking as collateral. The corner of one building is in a flood zone. We have requested flood insurance covering the entire building. Our borrower stated that his previous lender allowed them ...Read More

Next week could be a busy one in the State House for the Alabama Bankers Association, as three bills ABA is tracking could start moving as early as Tuesday afternoon: House Bill 419, the Financial Institution Excise Tax Reform Act, is on the House ...Read More