TOPIC: ALLL

Whitepaper: CECL Survey - Where are financial institutions?

Abrigo CECL Survey - Results show progress, some laggards

For the third year in a row, Abrigo (formerly Farin, MST, Sageworks, and Bankers Toolbox) surveyed 125 individuals at a wide range of financial institutions to gauge CECL preparedness. The 2019 survey shows that as the Q1 2020 compliance date looms for SEC registrants, institutions of all types are making progress – but not enough, according to CECL experts. Nearly half of survey participants (and a majority of SEC filers) have already collected and validated data. This is important, because collecting and validating data for the loan loss calculation is typically one of the more significant bottlenecks and challenges in CECL implementation.

“The clock is ticking,” said Regan Camp, Senior Director of Advisory Services at Abrigo, (formerly Farin, MST, Sageworks, and Banker’s Toolbox). “While many financial institutions are taking the necessary steps to make sure they are prepared for this important change in accounting for credit losses, it’s clear that others are falling behind their peers.”

Download and read the full whitepaper.

    CECL

    SVP at a bank ($789MUSA)
    How are you filling your data gaps to calculate CECL? While a bank’s own data is always best, many banks don’t seem to have extensive historical data and in some cases, minimal losses. It is possible to fill in the gaps from external sources — as long as the data is carefully sourced and aligns well with your portfolio. We share some of our insights in this white paper: http://go.pcbb.com/2018CECL-GettingStarted-RequestPage.html. I’d also be glad to talk to you about what we’ve done.

      CECL Solution Tailored for Community Financial Institutions

      PCBB’s full-service, SaaS CECL solution includes all 7 methods, offering the flexibility to reconfigure methods, as the market conditions change. With over 20 years of experience and the only bank providing a CECL solution, PCBB brings a unique approach for a successful CECL implementation. Our Banking Experts provide you with as much or as little assistance as needed and guide you every step of the way.

      Check out our short video for more information: https://www.youtube.com/watch?v=eXSCESfeUTE&feature=youtu.be

        Having trouble keeping up with all these CECL updates?

        CECL is in the news a LOT now that we're less than a year out from the transition. Robert Ashbaugh and Chris Emery are making sure your financial institution understands all of the recent changes and the ways that those changes and proposals might affect your institution's CECL implementation. Tune in for our free webinar in two weeks -- get registered here: http://bit.ly/2GrF1mr

        Blob