Academy Bank’s Post

You see it with banks all the time – Member FDIC But what does FDIC stand for? What is it? And what does it do? FDIC stands for the Federal Deposit Insurance Corporation. The FDIC is an independent federal agency insuring deposits in U.S. banks and thrifts in the event of bank failures. The primary purpose of the FDIC is to prevent "run on the bank" scenarios, which devastated many banks during the Great Depression. In case of bank failure, the FDIC insures deposits up to $250,000 per depositor as long as the institution is a member firm. Meaning, if you have $200k in a savings account and $100k in a CD, you have $50k that is uninsured. #communitybank #memberfdic #fdic #financialiteracy #themoreyouknow #banklocal

Bank of America

🌟 Exciting news from Lloyds Banking Group! Despite challenges in the mortgage market and savers seeking better rates, the company has hiked its dividend. This demonstrates their commitment to shareholders and steadfastness in navigating tough economic conditions. Check out the full article on "This is Money" for more insights on Lloyds' financial report. #LloydsBanking #DividendHike #FinancialNews https://ift.tt/xVzlG9g

🫠JAMIE'S HAIR ON 🔥: HERE IS WHY😭 👱JPM FACES AN FDIC assessment of THREE BILLION DOLLARS to replenish its fair share of FDIC funding > March-April bailouts starting w SVB. Mr. Dimon not happy. 😾MISERY LOVES COMPANY: BAC has assessments approaching TWO BILLION. 🤌GOLDMAN SACHS HAS the 7th largest FDIC insured "bank" (use the term loosely). Great "back of the house" bail mechanism right? Not happy either. 👱♂️FDIC ESTIMATES THAT ONLY 114 banks will be subject to the special assessment. Majority of USA banks honor the concept of being a federally-insured bank and keep most deposits < FDIC insurance cap of $250,000 per depositor. 🐶DOGS WILL BE BARKING, the FDIC caravan shall keep rolling along.🎪🥁 #FDIC #JPM #GS #bailout #svb #repos #banking #jamiedimon #regulatory

As we wind down the last week of #NationalHomeownershipMonth, let us leave you with a reminder about the value of FHLBank Indianapolis membership:

#sueknowsthescore sharing comments from a post 30 days ago about the #fhfa proposed AVERAGE score calculation when the BI-MERGE is implemented for #mortgagelending. 📆 My call to action 📣📣for #mortgagelenders has been to do this real-world test with loans in your pipeline and share your results. In this scenario, the HIGHER #creditscore borrower could potentially have worse pricing based on which 2 bureaus are selected. 🤯 The ⏬#score borrower could see an improvement in their costs if the 'right' two bureaus are selected. #FHFA is expected to share their data to support the move to a bi-merge in Q4 2023, and many are asking for more time to review that data before the #implementaton begins, currently scheduled for Q1 2024. 🏃♀️🏃♀️ Be sure to tune in tomorrow to learn about all the proposed changes as Brian Vieaux, CMB, Michelle Young, Samantha Markwood and I share our 100+ years combined #mortgageindustry #experience and insights with you! Register here: https://lnkd.in/gdkanmmh #loanofficers #mortgagebrokers #mortgagelenders #knowledgeispower #mortgageunderwriting #creditandlending #creditunions #changeispossible #mortgagebankers #realestateagent #pmi Michael Hammond JD, CMT Kevin Peranio Suzy Lindblom Kim Hoffman, CMB, AMP Wanda Pearson Shelly Cole Drew Knapp Monica A. Pastrana Ben Derouchie Kayla Kallander Katrina Cummins Scott Weintraub Tom Knapp Ramin Ekhtiar Pat Peters Lily Savage Semah Kirmizikaya Rodriguez Bill Bodnar Craig Arias, MBA Lindsey Kuhnle Roy George, CMB® Sharon Geib Jill Black Will Shipp Mohamed Elsawah Molly Dowdy Vanessa Williams Joanne Landry Morgun Hall

"Has the market gone mad?" Those were my thoughts this morning as Lloyds Banking Group shares opened in the red despite pre-tax profits beating City consensus while reiterating its outlook. I've long made the case that Lloyds would hold up due to its strong hedges and more affluent base, so I'm glad to have gotten another one of my calls right! So, is it time to buy Lloyds shares? 🧐 Full article and analysis to follow. But in the meantime, you can read my feature on Mortgage Introducer (link in the comments) 📰 #Lloyds #FTSE100 #StockMarket

Could we be on the verge of a “slow-moving train wreck” as waves of commercial real estate loans mature over next few years? https://lnkd.in/gpFWiUEQ Refinancing has to take place of course, but at MUCH higher rates, which makes these companies that hold commercial real estate largely insolvent, especially given the lack of occupancy (WFH baby!). Mr. Rechler also goes on to say that over next two years, there will be 500 or more regional banks that cease to exist or they will be forced into consolidation. I previously posted about NYCB. I venture to say that there are plenty of reasons to doubt the safety of our money. But some may say that the FDIC is the ultimate backstop. Well, the FDIC has HOW MUCH money on hand to insure depositors?! I have heard that it is enough to cover something like 110th of 1% of all the deposits?! (WTH!)

🔖 Title: Lloyds announces dividend hike despite profit slump Great news, everyone! Despite a dip in profits due to struggles in the mortgage sector and savers seeking better rates, Lloyds Banking Group has taken a positive step forward by increasing its dividend. This demonstrates the company's commitment to its shareholders, even in the face of challenges. The decision to enhance the dividend underlines the resilience and long-term outlook of the organization. Check out the full story on 'This is Money' to delve deeper into the details. #LloydsBankingGroup #DividendHike #FinancialNews https://ift.tt/xVzlG9g

BY THE NUMBERS (NWA edition!): At 6/30/23...The FDIC reported in Benton, Madison, and Washington Counties in AR that there were 39 banks with over 200 branches and $16.4 billion in total deposits. The top five banks owned over 66% of the total deposit market share and 41% of the total branch count. They are listed below (market share %): 1) Arvest Bank (42.69%) 2) First Security Bank (8.47%) 3) Bank of America (5.26%) 4) Legacy National Bank (5.11%) 5) Signature Bank of Arkansas (4.48%) Arvest Bank completely dominates the region in terms of deposit market share and has 2.5x the branch network of the #2 bank First Security Bank and over 10x the branch network of the #3 bank Bank of America. Deposit growth in the three counties in the last five years has been north of $5.3 BILLION and there have been six new banks enter the market during that period - up to 39 from 33. Over half (20 of 39) of the banks on the list have just one or two branches in NWA, which makes it feel like there's a different bank on every corner. Living in the #Ozarks, we hear a lot about why everyone loves NWA and either wants to move there, develop/invest in real estate there, or expand/start a business there. It's an amazing place to work, live, and play and it has experienced substantial growth in the last decade. To keep an eye on what's all happening down in this great part of the world, make sure to follow Paul Gatling and the NWA Business Journal. When are you headed there next? Redmon Capital, Inc, Kevin, Anne, Robert, Brad, Brian, Ladd, Gary, Matt, Mindy, David, Jim, Aaron, John, Blake, Richard, Nabholz Corporation, Splash Car Wash & Oil Change, Monty, Eric, Greater Bentonville Area Chamber of Commerce, Brad