DBA Digest for March 24, 2023


2023 Teach Children to Save Day!

April 24th - 28th

Volunteer Today!

Only 13 classrooms still need volunteers 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.


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.


Fulton Financial Corporation Declares Quarterly Common and Preferred Dividends

 Fulton Financial Corporation announced that its Board of Directors declared a quarterly cash dividend of fifteen cents per share on its common stock, payable on April 14, 2023, to shareholders of record as of April 3, 2023.

In addition, Fulton announced that the Board declared a quarterly dividend of $12.81 per share (equivalent to $0.32025 per depositary share) on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, payable on April 17, 2023, to shareholders of record as of April 2, 2023, for the period from and including January 15, 2023 to, but excluding, April 15, 2023.

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Bank of America Private Bank Market Minute

Last week capped a volatile week in which concern over the Banking sector remained dominant. The S&P 500 closed with a 1.4% weekly gain as the Nasdaq Composite rose 4.4%. The Dow Jones Industrial Average fell slightly by 0.2%. S&P 500 sector returns varied widely, with Communication Services (6.9%), Technology (5.7%), and Utilities (3.9%) leading, while Energy (-7.0%), Financials (-6.1%) and Materials (-3.5%) declined the most. The Chicago Board Options Exchange Volatility Index (VIX) nearly touched 30 intraday this past week after spending much of the prior three months around 20. Bond market volatility, as measured by the MOVE Index, spiked to its second-highest reading ever this past week, only behind a 2008 reading. The yield on the benchmark 10-year note touched an intraday low of 3.37% last Thursday, its lowest level since February, and ended that week around 3.43%. The yield on the 2-year note declined by nearly 75 basis points (bps) over the week, ending around 3.84%.

Full Story

 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.


Peter S. Gordon Elected ACTEC Vice President for 2023-2024

A founding Director of Gordon, Fournaris & Mammarella, P.A., Peter S. Gordon, has been a Fellow of the American College of Trust and Estate Counsel (ACTEC) since 1989. Peter served in a number of roles within ACTEC, and at the March 2023 annual meeting in New Orleans, Peter was elected Vice President. Prior to his election, Peter served on the Board of Regents, which is the governing body of ACTEC, and he was serving on the Executive Committee at the time of his election. Peter has practiced in the areas of trusts and estate planning, as well as fiduciary litigation, for more than 40 years. For more about Peter, please click the link below.

More Information

 U.S. Bank Failures: The Emerging Regulatory Focus

On March 12, the US Department of the Treasury, Federal Reserve Board (FRB), and Federal Deposit Insurance Corporation (FDIC) announced measures to protect all deposits under an emergency lending program and for the FDIC to complete the resolutions for Silicon Valley Bank (SVB) and Signature Bank. These actions were taken in consultation with President Biden and ordered using the ‘systemic risk’ exception. In a speech at the White House, the President stated that he would do “whatever is needed” to ensure the banking system remains strong. Consequently, regulatory changes are expected, and bank management needs to be asking the right questions to be prepared. 

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Ballard Bulletin: The Government Investigates Fallout From the "First Twitter-Fueled Bank Run"

In the wake of the Silicon Valley Bank (SVB) collapse, questions loom about the role of social media in the bank’s demise. The federal government will devote significant resources to investigate what went wrong—including whether the run on the bank was a product of market manipulation and whether any bad actors illegally exploited the crisis to profit.

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