Pub. 14 2023 Issue 2

For more information on WVBankers Professional Development opportunities or to register for an event, visit us at www.wvbankers.org. JULY 2023 WVBankers Annual ConventionJuly 23–26The Greenbrier – White Sulphur Springs, WV AUGUST Commercial Lending Development Program (CLDP): Virtual Session 1: August 7Presented by Jeffery JohnsonMarketing/Business Development/Negotiations Session 2: August 8Presented by Jeffery JohnsonIn-Depth Financial Analysis Branch […]

With the rampant rise of cybercrime worldwide, you want to protect your bank’s data security. Not only is it necessary for compliance reasons, but it also helps to improve your customers’ trust in your institution. You may believe you’re protected with a traditional cybersecurity model, but that cyber strategy has many gaps. To bridge those

As digital payments and online transactions increase, the risk of bad actors fraudulently using these channels is growing as well. The United Nations estimates that 3% to 5% of the global GDP — around $5 trillion — is laundered each year across the world. Fraudsters steal billions of dollars annually from organizations and individuals in

May 2023 celebrated the WVBankers 76th Annual West Virginia School of Banking. Held at the University of Charleston, bankers were given the opportunity to expand their knowledge and understanding of day-to-day banking operations, economic and monetary issues and the industry as a whole. Since 1944, the WV School of Banking has provided a challenging curriculum

As the former Chair of the Future Leaders Council and CFO of Pleasants County Bank, I am proud to highlight the recent involvement of the Future Leaders Council at the ABA Government Relations Summit held in Washington, D.C., from March 20-22, 2023. The Summit is a great platform to advocate for the banking industry, and

In March of 2022, the Financial Accounting Standards Board (FASB) issued a follow-up standard to ASU 2016-13 — Measurement of Credit Losses on Financial Instruments (CECL) to address recommendations from a post-implementation review of CECL. This new standard, ASU 2022-02 — Troubled Debt Restructurings and Vintage Disclosures, introduces concepts deemed useful to users of public

Home Equity Line of Credit (HELOC) scams continue to be a costly and challenging issue for financial institutions. Wire transfer fraud can easily reach millions of dollars, and with advancements in technology such as online databases for county clerk records, online banking and online title searching, data commonly used by financial institutions to verify customer

On June 6, 2023, the federal banking regulators issued final joint guidance to assist all banking organizations in managing risks with third-party relationships. The guidance replaces each federal banking regulator’s existing general third-party guidance to promote consistency in the supervisory review of third-party relationships. The proposed interagency guidance issued in July 2021 was revised to

Jared Moncman CFO/SVP, Pleasants County Bank Jared Moncman embarked on his banking career over 15 years ago, working as a part-time teller at First Neighborhood Bank while completing his college degree. In the years that followed, he gained valuable experience as an external auditor at Suttle & Stalnaker, PLLC, where he conducted year-end financial statement

In 2022, the West Virginia Bankers Association established a Young Banker of the Year Award. This award recognizes the achievement, performance and community and industry involvement of a West Virginia banker who is 40 years of age or younger. Each candidate is nominated by a sponsor within their bank, supported by the application process highlighting