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What is a document library, and why does a financial institution need one?

Kylee Wooten
Posted by Kylee Wooten

Technology continues to make common, everyday tasks easier and more efficient. Document libraries are a great example of an innovation that enhances a once monotonous task. Have you ever sent out a form or document to someone to have them edit it, send it back, and then forget which version…...

Bankers: Almost every part of the loan process takes too long

Bess Patton
Posted by Bess Patton

From prospecting through post-closing, banks are faced with a network of interdepartmental systems to process a loan. For example, the lender secures the deal and manages the relationship, the credit analyst underwrites the loan and evaluates the risk, and the portfolio manager monitors ongoing administrative checkpoints. One could imagine a…...

How to fix the 3 biggest problems with small business lending

Mary Ellen Biery
Posted by Mary Ellen Biery

Is growing the small business loan portfolio on your bank or credit union’s agenda? If so, you’re not alone. A recent survey by the American Bankers Association found that 61 percent of banks surveyed plan to moderately or aggressively grow their small business lending (loans between $3 million and $100 million)…...

Regulatory agencies approve new CECL proposal

Amanda Rousseau
Posted by Amanda Rousseau

On Friday, April 13, the federal banking agencies jointly issued a Notice of Proposed Rulemaking to amend their capital rules in response to “the biggest change yet” to bank accounting principles set forth in Accounting Standards Update ASU 2016-13, otherwise known as the current expected credit losses model, or CECL. The notice…...

How community banks can regain the small business lending market

Bess Patton
Posted by Bess Patton

In today’s banking world, community banks are focused sharply on shareholders’ expectations for growth in earnings and return on equity. So, how can community banks support earnings and ROE growth in the face of intense regulatory scrutiny and competitive pressures on profitability? By leveraging their strengths in relationship lending and…...

Marketing tips for credit unions

Marin Goodwin
Posted by Marin Goodwin

In March 2018, the Credit Union National Association (CUNA) held the 25th Annual CUNA Marketing & Business Development Council Conference in San Francisco. At this conference, they held a “Tech Talk” session that “digs into the intersection of marketing and technology.” Here are some takeaways: Embrace marketing automation During the…...

Top five resources for CECL and navigating the transition in 2018

Amanda Rousseau
Posted by Amanda Rousseau

The Current Expected Credit Loss (CECL) model, otherwise known as the “biggest change to bank accounting yet”, goes into effect in 2020 for banks that file with the Securities and Exchange Commission (SEC) filers and in 2021 for all other financial institutions. The change impacts all financial institutions, including community…...

Benefits of community banking

Kylee Wooten
Posted by Kylee Wooten

There’s a lot to celebrate in April. From National Canine Fitness Month, National Soft Pretzel Month and National Community Banking Month. As much as we love our dogs and our soft pretzels, we’re especially excited to highlight our community banks. When we began Sageworks, our mission was to help small…...

Loan pool segmentation: Standing pat or making changes for CECL?

Amanda Rousseau
Posted by Amanda Rousseau

Proper loan pool segmentation, already a critical issue in the incurred-loss method of calculating the allowance for loan and leases losses (ALLL), is expected to have even more importance under the current expected credit loss model, or CECL. Various methodologies for forecasting expected credit losses will require specific kinds of…...

Boost lending without adding staff: Sageworks client featured in American Banker

Mary Ellen Biery
Posted by Mary Ellen Biery
provide advisory services to accounting clients

Sageworks client Millennium Bank in Ooltewah, Tenn., was featured recently in American Banker for its use of technology to increase lending without hiring more lenders. “Many small banks that lack the resources to hire more lenders have made similar investments in recent years in an effort to compete with not…...