DBA Digest for April 21, 2023

DBA 128th Annual Meeting & Dinner - May 11 -

DuPont County Club - Philadelphia Union's David Debusschere Keynote Speaker!

Register today for the DBA's 128th Annual Meeting and Dinner, May 11, at the DuPont County Club. The keynote speaker for the evening will be David Debusschere,

EVP and COO/CFO with the Philadelphia Union.

Last call for sponsorships! Join these prestigious sponsors: The Federal Home Loan Bank of Pittsburgh; Young Conaway Stargatt & Taylor; Delaware Community Foundation; Richards, Layton & Finger; McCollom D'Emilio Smith Uebler; Santora CPA Group; Belfint, Lyons & Shuman; CAPCO; Potter Anderson & Corroon; RKL; and Weiner Benefits Group. Click on the link below for sponsorship information.

Sponsorship Information

2023 Teach Children to Save Day!

April 24th - 28th

Volunteers: Instructional Video Online!

Teach Children to Save Day is next week! Volunteers, make sure you review the instructional video and lesson materials now available on the Teach Children to Save Day webpage at debankers.com. The example lesson, taught by Judy Austin of the Center for Economic Education and Entrepreneurship, is filled with helpful tips to guide you through this year's Teach Children to Save Day visit.

Teach Children to Save Day

Fulton Financial Corporation Announces

First Quarter 2023 Results

Fulton Financial Corporation reported net income available to common shareholders of $65.8 million, or $0.39 per diluted share, for the first quarter of 2023, a decrease of $13.5 million, or 17.1%, in comparison to the fourth quarter of 2022.

“Our focus remains the same - the long-term financial wellbeing of our company, our customers and our communities,” said Curtis J. Myers, Chairman and CEO of Fulton. “During the quarter, we took actions to fortify our balance sheet, increase our liquidity, diversify our funding and enhance our reserves. By taking these actions, monitoring capital and communicating with customers, we’ve positioned ourselves to continue serving our stakeholders and growing our company.”

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Northern Trust Wealth Planning Symposium: The Power of Resilience - April 27

Join Northern Trust for their third annual Wealth Planning Symposium on April 27 as they collaborate with some of the best minds from legal, tax, behavioral science, family law, philanthropy and academia to tackle issues facing wealthy families today.

Some of the questions addressed include:

  • What are the secrets of successful families?
  • How does it feel to be impacted by sudden wealth?
  • What modern strategies can we put in place to complement a positive approach?
  • What have we learned from being in the trenches?
  • How can we motivate families to embrace these strategies without relying on fear?


JPMorgan Chase & Co. - Carry The Load Event - Thursday, May 4th, 2:30pm

Carry The Load is a non-profit organization that provides active ways to connect Americans to the sacrifices made daily by our military, veterans, first responders, and their families. What started in 2011 as a grassroots effort by two veteran U.S. Navy SEALs to restore the true meaning of Memorial Day has now grown into honoring our nation’s heroes 365 days a year. Their mission is to provide active ways to honor and remember our nation’s heroes by connecting Americans to the sacrifices made by our military, veterans, first responders and their families. Since 2011, they have raised over $38,058,334.


Memorial Day is dedicated to honor and remember the men and women who died while serving in the U.S. military. Although it is observed on the last Monday of May, Carry The Load’s Memorial May campaign takes place all month long to raise awareness and provide active ways to connect Americans to the sacrifices made by our military, veterans, first responders and their families.


We hope you will join us by participating in the East Coast Leg on Thursday, May 4th @ the Daniel S. Frawley Stadium (home of the Blue Rocks). Please see the link with all the information needed to register.  


 DEBCC Small Business Week Networking & Breakfast - May 3rd - 9:00 a.m. - Wilmington

We recognize the resiliency and tenacity of entrepreneurs, who contribute to economic growth in our community, and in honor of Small Business Week, the DEBCC would like to say thank you! Join us for complimentary breakfast Wednesday, May 3rd, from 9am-11:30am at the DEBCC headquarters, 1105 N Market Street Wilmington, DE

For more information or to register click on the link below.


U.S. Treasury Releases Report and Recommendations Regarding Vulnerabilities in Decentralized Finance

The U.S. Department of the Treasury released a report on April 6, 2023, examining vulnerabilities in decentralized finance (DeFi), including potential gaps in the United States’ anti-money laundering (AML) and countering the financing of terrorism (CFT) regulatory, supervisory, and enforcement regimes for DeFi.

The report concludes by making a series of recommendations, including the closing of “gaps” in the application of the Bank Secrecy Act (BSA) to the extent that certain DeFi services currently fall outside the scope of the BSA’s definition of a “financial institution” covered by the BSA.

The report also takes a skeptical view regarding what type of DeFi services truly qualify as "decentralized," describing many such industry claims as "marketing" rather than accurate descriptions of the applicable regulations.

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Greg Koseluk at greg.koseluk@debankers.com