The Three Pillars for Success in Peer Mergers

Peer mergers still carry plenty of their own risks, but keeping the management team and operational structure mostly intact is appealing and can greatly reduce the need to cut redundancies post-merger by eliminating them at the outset. Here are three key concepts to keep in mind when considering such a merger.

Continue

Paycheck Protection Program 2.0

On Sunday, December 27, 2020, the Consolidated Appropriations Act, 2021 (the “CAA”) was signed into law, which expands certain provisions of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”).

Continue

Community Banks and the Main Street Lending Program

The Federal Reserve continues to release additional guidance relating to the Main Street Lending Program (the “MSLP”) originally announced in April 2020. Though the program is still largely in the setup phase, many community banks are contemplating whether to participate.

Continue

ECOA Implications for COVID Lending Programs

During the past month, banks have scrambled to accommodate customers—working around the clock to process emergency requests for loan modifications and thousands of applications under the Payroll Protection Program (PPP). They have done this with reduced staff, and while simultaneously overhauling delivery and workflow systems in an attempt to keep customers, employees and their families safe.

Continue