October 28, 2022

Since the effective date for the incident notification rule for banks, we have received several questions asking about whether an incident would be classified as a “notification incident” or not.

An “equity cure” is a type of legal provision often found in credit agreements governing loans that finance acquisitions by private equity sponsors. In an alignment of interests between lenders, private equity sponsors, and their portfolio company borrowers, these provisions allow sponsors to retroactively cure their portfolio companies’ financial covenant defaults by making a cash equity contribution typically treated as a dollar-for-dollar increase to the company’s adjusted EBITDA in the amount necessary to cause compliance with the company’s financial covenants for the applicable measurement period. Equity cure provisions benefit all parties involved by providing a clear protocol for navigating economic downturns or other periods of financial difficulty in a manner that prioritizes de-risking the lender’s credit exposure while protecting the company’s viability and sustaining the sponsor’s commitment to the success of the business.

For more than a decade, large financial institutions nationwide, joined by Fortune 500 giants like Apple and Google, have been the dominant players in solar investment tax credits (ITCs). Driven by federal incentives, these companies have provided funding for the largest solar projects in the country, collecting healthy returns while raising their corporate profiles as environmental/social/governance (ESG) leaders.

As summer comes to a close, employers are in the midst of selecting next year’s benefit options for both themselves and their employees. They’re deciding whether to offer retirement plans, health insurance plans, and other benefits, such as flexible savings accounts and health savings accounts (HSAs).

The Biden Administration’s March executive order seeking information on digital asset usage and security set a flurry of activity into motion. This included a mandate for the Treasury Department to deliver a report on the future of money and payments systems. The agency issued a public request for comment in July, and SRM quickly responded, drawing from our detailed and ongoing coverage of cryptocurrency and other digital assets.

The August edition of Colorado Banker shined a light on the power of Community Development Financial Institutions (CDFI) to make big impacts in partnership with the people in the communities they serve. It explained the origins of CDFIs and what has become a social and economic justice movement within the community development finance field.

The banking community lost a true ally, an advocate, and mentor. Dennis King, with Home Loan State Bank, passed away on August 31, 2022. Anyone who had the pleasure of visiting with Dennis knew his passion for the community and banking. He cared deeply about people and serving the community.
His political prowess benefited the industry.

On September 12-13, Colorado bankers visited Washington, D.C. It was a successful and productive week in our nation’s capital, and it was good to be back to in-person meetings after the restrictions and machinations of COVID protocols. Bankers from Arizona, Montana, Utah, and Wyoming joined our Colorado bankers in D.C. The partnership made the event all the richer.