23 Hoosier Banker June 2016 About Compliance Connection In order to address compliance inquiries from members, the IBA provides Compliance Connection, an assistance program offering advice on Indianaspecific compliance questions. If the matter requires legal advice, IBA Compliance Connection will refer the bank to a law firm. Acting as IBA’s compliance counsel is Brett J. Ashton, partner with Krieg DeVault LLP, Indianapolis, and chair of the firm’s financial institutions practice group. Submit Compliance Connection questions to IBA’s Amber R. Van Til at avantil@ indianabankers.org or Josh Myers at jmyers@indianabankers.org. ther borrower has another source of income from which the loan (together with the borrower’s other obligations) may be fully repaid, or when loans or extensions of credit are made to borrowers who are related directly or indirectly through common control, including where one borrower is directly or indirectly controlled by another borrower and substantial financial interdependence exists between or among the borrowers. A common enterprise is also present when separate persons borrow from a national bank or savings association to acquire a business enterprise of which those borrowers will own more than 50 percent of the voting securities or voting interests.6 Additional standards apply for interpretation of the common enterprise test with respect to partnerships, joint ventures and associations.7 The DFI has authority to deem the failure of any bank or trust company to comply with the loan limitations provision, or any order related to these limitations, as an indication that the bank is conducting its business in an unauthorized or unsafe manner, and to initiate liquidation proceedings of the institution in accordance with Ind. Code § 28-13.1. It should be noted that the DFI has indicated that it attempts to maintain consistency between state lending limits and those applicable to national banks under 12 CFR § 32. t 1 Ind. Code § 28-1-13-1.5(a) 2 Ind. Code § 28-1-13-1.5(b) 3 Ind. Code § 28-1-13-13 4 12 CFR § 32.5 5 12 CFR § 32.5(b) 6 12 CFR § 32.5(c) 7 12 CFR § 32.5(e) This information is provided for general education purposes and is not intended to be legal advice. Please consult legal counsel for specific guidance as to how this information applies to your institution’s circumstances or situation. Your Community Bank, New Albany, held a ribbon-cutting ceremony on April 22 to celebrate the grand opening of its Evansville financial center, located at 727 N. Cross Pointe Blvd., Suite D. Evansville Mayor Lloyd Winnecke and Chamber of Commerce of Southwest Indiana officials were in attendance. In honor of the occasion, the bank donated $1,000 each to Ark Crisis Child Care Center, Boy Scouts of America – Buffalo Trace Region, Junior Achievement of Southwestern Indiana, YMCA of Southwestern Indiana and Youth First Inc. t new BrAnches, Buildings & openings Associates of Your Community Bank, New Albany, celebrate the grand opening of the bank’s new Evansville financial center in April. Investors Title Insurance Company, Chapel Hill, North Carolina, has been ranked as one of the top 25 best-run public companies in North Carolina by the Triangle Business Journal. The rankings are determined by a team of journal researchers and the Kenan Institute of Private Enterprise at the University of North Carolina, Chapel Hill, by evaluating stock return, employee growth, operational efficiency and revenue growth. Welcome, New Member The Indiana Bankers Association welcomes the following company to the IBA network as an associate member. For more information about the benefits of associate membership, please contact Rod Lasley at 317-387-9380, email: rlasley@indianabankers.org. United Bankers’ Bank Tyson Doke, 952-885-9479 ubb.com UBB provides community banks with a robust portfolio of operations, lending, investment and special services. UBB never competes with its customers, and it builds and maintains all customer relationships on a foundation of integrity and trust. t AssociAte MeMBers’ corner
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