DBA Digest for March 17, 2023

2023 Teach Children to Save Day!

April 24th - 28th

ONLY 25 CLASSROOMS LEFT! Volunteer Today!

Only 25 classrooms, mostly in New Castle County, are still available for 2023 Teach Children to Save Day! Don't miss out on this year's event, the 25th annual, April 24th through 28th. The majority of classrooms will be in-person! Over the years, Delaware’s bankers have taught an important lesson on saving to over 230,000 kids. Teaching is fun and easy, with complete materials and training provided. Register via the link below.

Especially for our 25th Anniversary, the Delaware Bankers Association and the Delaware Financial Education Alliance have created a 20-page comic book. Featuring The Great Investo and Penny, the story illustrates the concept of scarcity and the importance of saving for a financially independent future. All students will receive their own copy of the comic book to keep.


Save the Date! DBA 128th Annual Meeting & Dinner - May 11 - du Pont County Club - Sponsorship Available

Mark your calendar 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 at Keystone Sports and Entertainment LLC (Philadelphia Union).

Sponsorships are available! Join these prestigious sponsors: The Federal Home Loan Bank of Pittsburgh: Young Conaway Stargatt & Taylor; 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

Women Connect Networking Event

May 18-19, 2023

The next Women Connect Network event will be held May 18-19, 2023, in Wilmington, DE. Join us for two days of fun, laughter, and life-long connections! May 18 will feature interactive activities in downtown Wilmington, followed by a half day program on May 19. Don't miss the excitement! Full agenda coming soon!


Pre-Register today to receive a 10% discount! Discount valid through April 14.


Bank of America Private Bank Market Volatility Update

The chain of events of the past week has created a cascading effect around the globe. Financial market stress and concerns over liquidity have increased significantly. Market volatility has spiked sharply while “stress” indicators have widened out. This has happened in a matter of days. There were numerous examples of episodes like this in the past few decades. After a period of time, volatility subsided, key indicators settled down to more normal levels, and the derisking episode ultimately ended. Below, we highlight five general steps needed, as well as key indicators to watch, for stability to eventually develop and the next upturn to begin. During this time of outsized concern, we believe it is an opportune time to reassess your investment and portfolio strategy and have plans ready for steadier times ahead.

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 New- Ask the Fed: Residential Real Estate

Housing Market Correction –

 Trends and Emerging Risks in the Year

Tuesday, March 28, 2023, at 2:00 p.m. ET - 3:00 p.m. ET

After Two and a half years of extraordinary growth spurred on by historically low mortgage rates and unprecedented levels of home prices appreciation, the housing market is in the middle of a major correction. Sales have declined, home price appreciation has slowed, and home buyer sentiment is near all-time lows. Taken together, all these factors point to a significant amount of uncertainty in the housing market as we enter the peak selling season of 2023.


On March 28, 2023, Domonic Purviance from the Federal Reserve Bank of Atlanta, will host a webinar that addresses current housing market conditions and future risks and expectations over the next year. Registration is now open at www.askthefed.org. As always, we want your questions. You can email your questions in advance of the session at questions@askthefed.org. We'll take questions during the session as well, but questions received in advance will receive priority. We strongly encourage participants to use the webinar audio on their computer for the best experience. Webinar materials will be archived for future viewing.


Jenifer Jurden is a Cartoonist from Wilmington who has graciously provided her Planet Jurdy cartoons for the DBA Digest. Jurdy® is her other-worldly "Hero of Happyness" whose cartoons bring levity to humans worldwide.

CFPB Supervision and Examination Readiness

Crossing $10 billion in assets brings CFPB supervision and examination, raising regulatory expectations and scrutiny around compliance and risk management programs and practices. Preparing for this increased scrutiny, including new regulatory requirements, takes time and experience. Capco can perform a readiness review and help you create a roadmap to ensure that your organization is prepared and positioned for success. Our experienced and credentialed professionals will partner with your Compliance and Risk Management Team to establish a customized framework, prioritize action items, and equip you to effectively communicate the action plan to your Board and Executive Management.

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Whisman Giordano & Associates, LLC

Names First Chief Operating Officer, Lisa K. DeRose, CPA, CGMA

Whisman Giordano & Associates, LLC (WGA) named Lisa K. DeRose, CPA, CGMA, its first official Chief Operating Officer. DeRose will oversee the firm’s day-to-day operations in addition to her existing roles as Director of the Tax Department, leader of the Tax Committee, and the partner in charge of human resources.


DeRose has over 30 years of experience. She joined WGA as a partner in 2013 and is a steadfast leader committed to the firm’s success. DeRose is a recognized community leader who has a strong commitment to mentoring. She helped found the Delaware chapter of the ACE Mentor Program in 2010. This program has given over $100,000 in scholarships to high school students interested in building design and construction careers. Since 2001 she has served as Treasurer to the Delaware chapter of the Construction Financial Management Association. She has received awards from both the ACE Mentor Program and Delaware Today Magazine.

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Troutman Pepper: Federal Agencies Take Unprecedented Action to Strengthen Public Confidence in Banking System

On March 10, the California Department of Financial Protection and Innovation closed Silicon Valley Bank and appointed the Federal Deposit Insurance Corporation (FDIC) as its receiver. Silicon Valley Bank had 17 branches in California and Massachusetts. The FDIC transferred all deposits and assets of the former bank to a newly created, full-service FDIC-operated bridge bank in an action designed to protect depositors. In its press release, the FDIC stated that depositors would have full access to their money beginning Monday morning when Silicon Valley Bridge Bank, N.A. would open and resume normal banking hours and activities. In the past, the FDIC only provided up to $250,000 per insured depositor, per institution, and per ownership category. However, in an unprecedented move, the FDIC announced it would make all depositors whole — both insured and uninsured — no matter the size of their deposits.

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Ballard Spahr Alert: SVB Receivership FAQ

The past four days have been a roller coaster for many investors; the events of Friday, March 10, that saw the largest failure of a bank since 2008, have put many on edge. On Sunday, the Fed, Treasury, and FDIC moved to protect uninsured depositors of Silicon Valley Bank. In this follow-up to our previous FAQ on the topic, below we discuss the further practical realities and questions regarding SVB’s receivership.

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We want to hear from you! Please send your news items to
Greg Koseluk at greg.koseluk@debankers.com