Pub. 15 2020-2021 Issue 1

NEBRASKA BANKERS ASSOCIATION 9 Contact Richard J. Baier at (402) 474-1555 or richard.baier@nebankers.org . BANKING - FINANCE - CREDITORS’ RIGHTS LEGAL SOLUTIONS FOR FINANCIAL INSTITUTIONS I LOANS – TIF/BOND FINANCING DIP FINANCING – BANKRUPTCY/CREDITORS’ RIGHTS BANK ACQUISITIONS/DIVESTITURES REGULATORY COMPLIANCE – GENERAL CORPORATE KOLEYJESSEN.COM 402.390.9500 This recognition is truly a testament to the commitment of our Nebraska banks and bankers! As the PPP loan process and other provisions of the CARES Act play out over the next few months, we know that there will be continued questions and concerns. I would encourage you to reach out to an NBA staff member to discuss these issues. Our team is working directly with representatives from the SBA District Office, the American Bankers Association, various bank regulatory bodies and members of our Nebraska Congressional Delegation to actively raise awareness and seek solutions. With that said, I want to offer a special thanks to our regional SBA staff and our Nebraska Congressional offices for maintaining clear and direct lines of communication throughout this turbu- lent time. Personally, I can confirm that I and members of our legal/compliance teamwere on the phone or communicating via email with SBA leadership and our Congressional liaisons almost hourly as the PPP rolled out. However, PPP is not the only issue where your NBA staff committed time and energy throughout the early stages of the pandemic. Our marketing team constructed a coronavirus web- page for NBAmembers and managed media relations and inter- views, our legal teamworked closely on creation of a Governor’s Executive Order to expedite remote notary services, the NBISCO and VEBA staffmembers continued to sell and service bank and health insurance products and our education teammanaged the cancellation, postponement and rebooking of multiple programs. I want to offer my personal thanks to each of our staff for helping to navigate these unchartered waters. On an important but non-coronavirus update, the Nebraska Department of Banking and Finance recently announced its intention to designate the Nebraska Bankers Insurance Services Company (NBISCO, the for-profit armof the NBA) as the Admin- istrator of the Single Bank Pooled Collateral Program (SBPCP) effective July 1, 2020. The SBPCP allows participating banks to aggregate their total public deposits and to pledge collateral against its entire portfolio of public deposits rather than pledging per public entity, thus saving the bank time and money. As the programadministrator, NBISCOwill collect, confirmand report bank compliance with themandated pledging requirement, thus streamlining administration for public depositors on a monthly basis. Collateral is pledged to NBISCO. In the event of a bank closure, the pledged collateral would be assigned to NDBF for liquidation and payment to impacted political subdivisions. To learn more about this program, please contact Misty Stoner at misty.stoner@nebankers.org or (402) 474-1555. Finally, as we begin to return to business as usual, nothing will be like it was before. We are all working in very unique circumstances. Please let our NBA team know how we can help navigate this new normal. Stay safe! 