February 2019
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CEO Corner

By Jon Evans

I would first like to thank our shareholders and customers for their support and business over the past year.  It is because of you that your bankers’ bank was able to grow in both size and profitability, as well as service offerings.  Our team continues to work hard in providing more value for helping you compete more effectively.  A recap of events and some of our benefits follow:


• ACBB consummated our merger with BBN. This merger provided our company with additional talent and correspondent services while enhancing our aggregation model.  In addition, it expanded our footprint in New England, where institutions have a great history in serving their communities.
• We now have over 100 professionals in three offices (Camp Hill, PA, Glastonbury, CT, and Newark, NJ) serving the needs of over 400 financial institutions.
• BITS and Compliance Anchor continue to grow nationally, each with over 100 financial institution clients.
• Through a larger loan limit and geographic expansion, loan growth exceeded 7%, which included loan participations and direct bank financing such as Holding Company Lines of Credit.
• In 2018, ACBB directed $15,000 of charitable contributions to community groups through our shareholders.
• Cumulatively, our Board of Directors has over 450+ years of experience in various aspects of the banking industry.
• Our earnings credit rate was increased to the Federal Funds rate in order to maximize the value of your deposits with us.
• Our Board of Directors increased our annual dividend $2.00 per share to $26.00 and provided a one-time matching dividend to thank shareholders for their commitment to ACBB.

The Management and Board of Directors of ACBB look forward to serving you in 2019 and building on our long-standing partnership.

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Insights from Across Our Client Community

By Joe Krzywicki, SVP, Sales and Marketing
We partner with hundreds of community-based financial institutions across multiple geographic regions. We continually engage our clients in conversations to better understand and respond to their needs. During these conversations we have become aware of a disruption in the marketplace that may have a material impact on your ability to serve both business and retail customers.

Several correspondent financial institutions have announced plans to curtail or eliminate international wire transfer services to community-based financial institutions.

Our Mission is grounded in helping you survive and thrive in an increasingly competitive market.  To that end we continue to develop new solutions and enhance existing services to meet your evolving needs.

While others are exiting this market, we are preparing to launch an exciting enhanced offing for our clients. Global Payments Solutions and international wire transfer services are a core solution to ACBB. Our enhanced platform will offer all the capabilities of our existing service and add functionality, integration, focused client support and a compelling financial value to our clients.

Please contact your Relationship Manager to arrange a discussion and to access a Solution Sheet for additional details.   We encourage you to be proactive in evaluating your alternatives and managing this and all transitions on your timeline, not your provider’s.
Click here to view the latest ACBB Financial Highlights

Loan Tombstones

New York/Long Island
• 12-Unit mixed use property
• $1.5MM acquisition loan
• $1.25MM ACBB participation

New York City/Bronx
• 3 Residential apartment buildings leased to charitable organization  
• $2.9MM refinance
• $2.1MM ACBB participation 

New England Based Bank
• 3 Bank stock loans to bank executives for the exercise of stock options
• $1 million in aggregate

• 2 Permanent loans to fund dental offices
• $8.1 million in aggregate
• $2.1 million ACBB participation

• Medical related business acquisition
• $7.2MM total loan
• $3.0MM ACBB participation
• $3.5 million in sub-participants

Having Headaches with Hemp?

I am sure you have all heard by now that on December 12, 2018, Congress passed the Farm Bill. With the passage of the Bill, hemp production will become legal once the final regulations are written and enacted. Some estimate hemp production will grow into a $20 billion industry by 2022.
But what exactly does the passage of the Farm Bill mean for your institution? To answer that question, we must look at some of the particulars of the Farm Bill.
  • Hemp is no longer listed on Schedule I of the Controlled Substance Act, and is defined as “the plant Cannabis sativa L. and any part of that plant, including the seeds thereof and all derivatives, extracts, cannabinoids, isomers, acids, salts, and salts of isomers, whether growing or not, with a delta- 9 tetrahydrocannabinol concentration of not more than 0.3 percent on a dry weight basis.” That means, any hemp plant with not more than 0.3% THC (the part that makes you high) – p. 419 of the Farm Bill
  • The Farm Bill does not prohibit interstate commerce of hemp – p.425 of the Farm Bill
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Message from the CEO

2019 is gearing up to be another bellwether year for BITS. Because of some of our expanded partnerships, we expect our growth rate to gain tremendous steam in the next couple years. BITS will spend a good portion of 2019 preparing for this growth, by optimizing our processes, improving automation, and completing the integration of our systems.

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To learn more contact:
Jerry Murphy - CEO 
Christian Ericson - CMO 
Copyright © 2017 ACBB, All rights reserved.

Phone: 717-737-9335  Fax: 717-737-7975  |

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Atlantic Community Bankers Bank · 1400 Market Street · Camp Hill, PA 17001 · USA

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