A Quiet Windfall For U.S. Banks

  • December 24, 2008

The financial world was fixated on Capitol Hill as Congress battled over the Bush administration's request for a $700 billion bailout of the banking industry. In the midst of this late-September drama, the Treasury Department issued a five-sentence notice that attracted almost no public attention.

Congress Passes Emergency Pension Tax Relief/Technical Corrections

  • December 19, 2008

The continuing drumbeat of bad economic news has spurred the lame-duck Congress to pass an emergency package of pension recovery provisions and pension-related technical corrections.

IRS lowers business standard mileage rate to 55 cents-per-mile for 2009; Rate for medical/moving also drops

  • December 17, 2008

The IRS has just released the 2009 optional standard mileage rates, effective beginning on January 1, 2009.

Year-end brings tax cutting opportunities for individuals and businesses

  • December 17, 2008

December is always a busy month with a flurry of holiday and year-end activities. In the rush of events, it's easy to forget that the end of the year is also a very important time for tax planning. This year is no exception. Indeed, 2008 has been one of the busiest years for federal tax legislation.

Accounting firm unveils new name, Web site

  • December 17, 2008

The latest in a series of recent changes for Whitlock, Selim & Keehn is a rebranding effort, complete with a new name and an updated Web site.

Options For Distressed Debt

  • December 15, 2008

One result at the credit crisis that has rocked this nation's financial system over the past year has been an abundance of distressed debt for sale in the commercial marketplace. Well, one man's trash may indeed be another man's treasure, since a growing number of firms are interested in purchasing this debt.

It’s Not What It Used To Be

  • December 15, 2008

The competitive landscape for community banks today looks very different than it did just a year or two ago. The fallout from the subprime mortgage collapse and ensuing credit crisis has claimed its share of nonbank credit providers, such as mortgage bankers and specialists, captive finance companies and monoline credit card companies. Many of these lenders arose because they could take their products to the secondary market, but the turmoil in securitization has dried up many of their funding sources, either putting them under severe constraints or out of business entirely.

Hiring Lenders in Today’s Environment

  • December 15, 2008

Hiring and retaining qualified commercial lenders remains one of the biggest challenges for many community banks. In the past, large commercial banks served as the “farm system” for training and developing new lenders, and community banks were often able to recruit well-trained lenders from them. But with fewer big banks now providing this kind of training, there are fewer qualified lenders - who possess both sales/relationship and technical credit and underwriting skills - for community banks to choose from.