President Biden signed into law the American Rescue Plan Act of 2021 (ARP Act) on March 11, 2021. The $1.9 trillion economic recovery package revised the Paycheck Protection Program.
The Bank of Fincastle Announces First Quarter Earnings for 2021
News provided by
Share this article
Share this article
FINCASTLE, Va., April 29, 2021 /PRNewswire/ The Bank of Fincastle [SYMBOL: BFTL] has reported an unaudited quarterly net income of $345,680 for the first quarter of 2021, with assets of $272.1 million and total liabilities of $241.4 million.
Executive Management Team, from left:
Peter Sackett, Vice President and Chief Credit Officer
Mike Jasper, Chief Financial Officer
Scott Steele, President and CEO
Sandra Craft, Vice President of Commercial Banking As the COVID-19 pandemic continues to impact our daily lives, we are nonetheless encouraged to see local economic activity returning to more normal levels and improvement in our financial performance. The level of COVID-19 related payment deferrals decreased in the first quarter and now represent 2.92% of the loan portfolio (net of PPP loans), down 89% from their peak, said Scott Steele, President and CE
Headlines
CFPB Issues Interim Final Rule to Support CDC Moratorium on Evictions
FEMA Announces Changes to National Flood Insurance Program Pricing
Proposed Rule Would Establish Mandatory Terms for Tax Allocation Agreements
Other Developments: Paycheck Protection Program and Qualified Mortgages
1. CFPB Takes Steps to Avoid a Possible Wave of Home Mortgage Loan Foreclosures
The CFPB has issued guidance to mortgage servicers, including banks that service mortgage loans for third-party noteholders, that the CFPB expects servicers to dedicate sufficient resources and staff to reduce avoidable foreclosures in coming months. According to the guidance issued on April 1, Compliance Bulletin 2021-02, the CFPB believes consumer home mortgage borrowers needing loss mitigation assistance as the COVID-19 foreclosure moratoriums and forbearances end will face heightened risks of foreclosure. The CFPB’s guidance urges mortgage servicers to dedicate resources and staff to ensure that they can
SBA Releases New Guidance for the Restaurant Revitalization Fund's Application Process | Burr & Forman jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
BankUnited Inc (BKU) Q1 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.