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June 15, 2017

A publication of Fortner, Bayens, Levkulich & Garrison, P.C.

 Upcoming Events 

IBA/NBA 2017 Annual Convention
McCall, ID
Jun 20-23, 2017

TX IBAT 32nd Annual Leadership Conference
Horseshoe Bay, TX
Jun 22-24, 2017

UT UBA 109th Annual Convention
Sun Valley, ID
Jun 25-28, 2017

 OBA & WBA Annual Convention
Sunriver, OR
Jul 12-14, 2017

TX TBA 23rd Annual Senior Management Summit
Lost Pines, TX
Jul 12-14, 2017

  IA CBI's 46th Annual Convention
Okoboji, IA
Jul 19-21, 2017

 KS CBA 2017 Convention and Tradeshow
Overland Park, KS
Jul 19-21, 2017

 MT 2017 MIB Convention
Helena, MT
Jul 27-29, 2017

 ICBA/NM Annual Meeting
Santa Ana Pueblo, NM
Jul 27-30, 2017

 KS KBA 2017 CEO Forum and Annual Meeting
Colorado Springs, CO
Aug 3-5, 2017

TX TBA 5th Annual Compliance Management School
Austin, TX
Aug 7-9, 2017

Coming June 20th - 2017 Independent Bank Compensation Survey

Coming June 20th!   We have been conducting our annual survey for 29 consecutive years.  Many of you are long-time participants and we welcome your participation again this year.  Our survey will include bankers from all over the country. 

In our survey we compile compensation information for key bank positions as well as data on bonus and benefit plans.  Our survey form is brief and concise and doesn’t take a lot of time to complete.

We publish a comprehensive report with our findings and lots of information.  Just as important, you may request customized survey results that compare you to your peer group.  All of our reports are free of charge.

We’re also having a drawing of survey responses.  The winner receives a $500 Amazon gift card!

On June 20th, you will receive an email with all of the information for your bank to participate in this valuable survey. 

Benefits of Switching to a Dot-Bank Domain

By Bradley Ullrich

As more and more banking occurs online, financial institutions are consistently focusing on website security, and are also evaluating the website address itself. Historically banks registered a subdomain name and were stuck with .com (.com is for commercial entities) as the top-level domain. In 2015, fTLD Registry Service, LLC, a financial industry consortium, helped create a dot-bank top-level domain as a choice for legitimate financial institutions. We have seen an increase in the use of the dot-bank domain, and it appears to be a beneficial move for both banks and bank customers.

To read more, click here.

Placing Nonaccrual and TDR Loans Back on Accruing Status

By Ryan Pospeck, CPA 

In light of many community banks having strong, performing loan portfolios over the past several years, we often receive calls with questions regarding loans that have been placed on nonaccrual status, or have been labeled as Troubled Debt Restructurings (TDS’s), that have become current and now warrant being placed back on accrual status. Accounting rules and Call Report instructions currently require a loan to be placed on a nonaccrual status and to be maintained on a cash basis, if full payment of principal or interest is not expected or if the principal or interest has been in default for more than 90 days unless the asset is both well secured and in process of collection. However, when a loan subsequently becomes current and demonstrates an ability to meet all contractual obligations, restoration to an accrual status may be deemed appropriate.

To read more, click here.

IRS Loses Class-Action Law Suit

By Joseph M. Press, CPA, CFE

2017’s feel good news story comes to us from a federal court ruling that held that while the IRS had the authority to require tax return preparers to obtain preparer tax identification numbers (PTIN’s), it did not have the authority to charge a fee for issuing the PTIN. The court further ruled that the IRS was to “provide…a full refund of all PTIN fees paid.”

To read more click here. 

OCC Issues Revised Procedures for Termination of Federal Charter

By Andrew Marshall, CPA

In early June, the Office of the Comptroller of Currency (OCC) issued the “Termination of Federal Charter” booklet. This booklet includes additional procedures and requirements that have resulted from the integration of the OCC and the Office of Thrift Supervision, as well as revised regulations (12 CFR 5) that became effective in July 2015. The new booklet replaces the previous procedures booklet issued in 1998 (“Termination of National Bank Status”).

Below is a link to the new booklet:
https://www.occ.gov/publications/publications-by-type/licensing-manuals/termination-of-federal-charter.pdf

To read more, click here.