Annie Liao

Five Star Bank's President and CEO, James Beckwith, will be speaking on a panel at the California Bankers Association's Membership Update Banking Roundtable this morning. The panel will discuss the latest opportunities and challenges facing the banking industry today. Five Star Bank is proud to have James be a part of this important discussion. . . . #CaliforniaBankersAssociation #CBA #CaliforniaBankers #Banking #BankingIndustry #FiveStarBank #BankingPanel #BankingOpportunities #BankingChallenges #BankingCommunity #IndustryInsights #CaliforniaBanking

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Making an impact! 18 California credit unions were awarded CDFI Technical Assistance Grants to provide financial products and services to low-income and underserved individuals and communities. Read more here: https://lnkd.in/eMcis_qH #CANVLeagues #California #CreditUnions

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As mortgage servicers navigate the complexities of the VASP program, choosing the right loss mitigation platform is critical. Our loss mitigation platform, WaterfallCalc, ensures compliance and accuracy, helping you avoid the pitfalls of miscalculations. See why our clients choose us for their loss mitigation needs! Reach out today to learn more about our reliable solutions. Message us on LinkedIn or visit waterfallcalc.com to learn more. #LossMitigation #VASP #MortgageServicing

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Pacific Premier Bancorp, Inc., the Holding Company of Pacific Premier Bank, released its 2023 Annual Report. The Pacific Premier Bancorp, Inc. 2023 Annual Report tells a story of continued performance and expert navigation of a profoundly challenging economic environment while maintaining a position of strength as it enters 2024. “As you know well, 2023 was an extraordinary year for the banking industry. Rising interest rates, high-profile bank failures in rapid succession, and heightened regulatory expectations coalesced into a dynamic operating environment unique in its velocity and volatility. Our steadfast commitment to prudent and proactive risk management, client retention and development, and creating long-term value generated positive results for our stockholders, clients, employees, and the diverse communities we serve,” said Steven R. Gardner, Chairman, CEO, and President of Pacific Premier. To view the full Pacific Premier Bancorp, Inc. 2023 Annual Report, visit: https://lnkd.in/gWmKEfyp

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The Current Expected Credit Loss (CECL) validation is a critical process that demands a shift towards a more individualized and dynamic approach to loan loss provisioning. Implementation of this model presents challenges for smaller financial institutions, which can be aided with a thorough understanding of CECL and its key components. In this article, our Partner, Matthew Jensen, and our Consulting Manager, Chad Scott, detail qualitative factors, economic forecasts, individual loan reviews, and documentation and governance involved in implementing the CECL model. Take a look: https://ow.ly/FeU150SJgyO #CECL #financialinstitutions #financialservices #loans

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The Current Expected Credit Loss (CECL) validation is a critical process that demands a shift towards a more individualized and dynamic approach to loan loss provisioning. Implementation of this model presents challenges for smaller financial institutions, which can be aided with a thorough understanding of CECL and its key components. In this article, our Partner, Matthew Jensen, and our Consulting Manager, Chad Scott, detail qualitative factors, economic forecasts, individual loan reviews, and documentation and governance involved in implementing the CECL model. Take a look: https://ow.ly/Pu3P50TIkvG #CECL #financialinstitutions #financialservices #loans

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If your institution is facing any of the following, it may be time to consider a more effective securities lending solution:  Read More: https://lnkd.in/eYE8QF8y

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Automating BSA/AML compliance has not always been a priority for high-growth digital banks. However, factors like penalties, stricter enforcement regimes and staffing challenges are forcing compliance leaders to find ways to scale their efforts without more headcount. One of our customers needed to ensure speed for real-time payments while providing a positive customer experience. They decided to ‘hire’ our AI Digital Worker Tara for payments sanctions screening to make sure there were no delays in the screening alert review process. Click here if you’re ready to speed things up with Tara: https://bit.ly/3SGoOy3 #digitalworkers #futureofwork #automation #intelligentautomation #artificialintelligence #fintech #regtech #sanctions #aml #kyc

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OCMBC and its DBAs are #1 in Non-QM Originations in CA! According to the Forecasa Non-QM Pulse Report 2024. #ocmbc #wholesalelending Intended for use by real estate and lending professionals only and not for distribution to consumers.

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Collections with a Heartbeat 💙: The Eltropy-Lexop Revolution!  Amir Tajkarimi, has joined forces with Eltropy to flip the script on loan repayments and collections for credit unions and community banks. No more cold collection calls and transactional dread – it's will be authentic, member-first connections and smooth payment experiences. Want the inside scoop from Amir? Read it here: https://lnkd.in/gRm3PBd8 #Eltropy #Lexop #Empowerment #CollectionsReimagined #CreditUnions #CommunityBanks #MemberFirst #FinancialInnovation #TechForGood #TransformCollections #CustomerExperience #PaymentSolutions

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Freddie Mac’s 2024 Cost to Originate study finds that #loan origination costs have risen 35%, or $3,000, in the past three years. That means the average retail-only #mortgage lender loses approximately $600 per loan! 😱 What’s driving such runaway inflation? According to Freddie Mac Senior Director of Seller Strategy and Optimization for Single Family Sudamys Alfonso, technology fees — in particular, the rising cost of credit reports and other third-party verifications — are the biggest factor. Lenders can bring costs down by replacing legacy verification providers with more affordable challengers, but it takes effective #changemanagement to maximize those savings. Listen to the full story on the HousingWire Daily podcast: https://lnkd.in/g6VvBexQ

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🏛️ The Consumer Financial Protection Bureau has capped overdraft fees at $5 for large financial institutions, aiming to save consumers $5 billion a year. But institutions are pushing back, claiming the rule is an overreach that could limit access to #credit. Financial institutions argue consumers might turn to payday lenders instead. The new rule requires institutions to disclose high interest rates if they charge more than $5 for overdrafts. 📈 ➡️ Learn more: https://zurl.co/olW18 #CFPB #payments #financialregulation

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📢 Trend Tracker: Credit Union Spotlight 🔦   Mergers and Acquisitions  • Hawaii State Federal Credit Union, boasting $2.4 billion in assets, is set to merge with the $55 million HMSA EMPLOYEES FCU in Honolulu, as reported by CU Today.  • Y-12 FCU, with an $2.15 billion in assets, is set to enhance its footprint by acquiring the $415 million First State Bank of the Southeast, headquartered in Middlesboro, KY, as reported by CU Today.  • Greylock Federal Credit Union (with $1.6B in Assets) and Vantage West Credit Union ($3B in assets) are partnering with CUSOs (Credit Union Service Organizations that provide specialized services to credit unions and their members). Greylock with Member Support Services LLC in NJ and Vantage West with Rhyze Solutions in DE, as reported by CU Times.  • Premier Members Credit Union ($1.7 billion in Assets) in Colorado will merge with Meritrust Credit Union ($1.9 billion in Assets) in Wichita, KS, with completion expected by March 2025, as reported by CU Times.  • HAPO Community Credit Union ($2.3 billion in Assets) plans to acquire Community First Bank ($632 million in Assets) in Kennewick, WA, by the third quarter of next year, pending approvals, as reported by CU Times. • OneAZ Credit Union ($3.4 billion) in Phoenix announced its intention to acquire 1st Bank Yuma ($623 million) in an all-cash transaction, pending regulatory approvals.    Growth and Achievements  • According to a CUInsight.com report, Peach State Federal Credit Union has surpassed $1 billion in assets, becoming one of only eight credit unions in Georgia to achieve this significant milestone. • The World Council of Credit Unions (association of credit unions from across the globe) has recently published its 2023 statistical report, revealing that Global Credit Union assets rose by 4%, more than doubling over the last decade. Notably, Asia and Latin America are at the forefront of this growth, with their assets tripling.  • Truliant Federal Credit Union, as of June 30, originated 66 of 1,684 SBA loans (small business administration loans) totaling $104.1 million over the past year, ranking No. 1 among 167 credit unions, which collectively issued $825.8 million in SBA loans, reports CU Times. Market Trends   • Credit Unions are on track to nearly match last year's record, selling $2.10 billion in auto loan-backed securities in 2024, compared to $2.14 billion achieved in 2023, according to CU Times. • According to CU Today, smaller Credit Unions (those with assets under $20 million) are outperforming their larger counterparts (those with assets exceeding $1 billion) due to a modest 36-basis point increase in their cost of funds, while larger credit unions faced a significant 70-basis point rise in the same metric.    #CreditUnionNews #CommunityBanking #CUToday #CUTimes #MergerAnnouncement #MergerAcquistions #CreditUnionGrowth 

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