Latest Capital, Accounting and Liquidity FAQs

  • F07) Did the banking agencies extend the deadline for filing call reports for the first quarter of 2020?

    Guidance released by the FFIEC on March 25, 2020 indicate that the federal banking agencies will not take action against any institution for submitting its March 31, 2020, Reports of Condition and Income (Call Report) after the respective filing deadline, as long as the report is submitted within 30 days of the official filing date. Institutions are encouraged to contact their primary federal regulator in advance of the official filing date if they anticipate a delayed submission.

    In addition the Federal Reserve has indicated that it will not take action against a bank holding company with $5 billion or less in assets for submitting March 31, 2020, bank holding company reports (FR Y-9C or FR Y-11) after the filing deadline, as long as the report is submitted within 30 days of the filing date.

    Institutions are encouraged to contact their Reserve Bank in advance of the normal filing deadline if they anticipate a delayed submission. Institutions anticipating difficulty submitting their reports within the 30 days following the official filing due date, or experiencing challenges in obtaining director attestations, should likewise contact their Reserve Bank.


  • L12) Can an employer that is deemed an “essential business” claim the employee retention tax credit?

    • An “essential business” that fully or partially suspends operations is generally not eligible for the tax credit.
    • An employer that operates an essential business is not considered to have a full or partial suspension of operations if the governmental order allows the employer’s operations to remain open. However, an employer that operates an essential business may be considered to have a partial suspension of operations if, under the facts and circumstances, more than a nominal portion of its business operations are suspended by a governmental order. In addition, an essential business that is permitted to continue its operations may, nonetheless, be considered to have a partial suspension of its operations if a governmental order requires the business to close for a period of time during normal working hours.

  • L13) Can a bank that has closed a branch or lobby and reduced staff hours claim the employee retention tax credit?

    • Circumstances will vary for different banks and different legal jurisdictions. A bank that believes it may qualify for the credit should consult with its tax accountant. 

  • L02) What happens to payroll tax deferral in 2021?

    • An employer will resume payment of payroll taxes incurred after January 1, 2021. But payroll taxes deferred in 2020 are not yet due.
    • 50 percent of deferred taxes are due December 31, 2021. The remaining 50 percent is due December 31, 2022.
    • No interest accrues on deferred amounts.

Community Bankers, Tell Congress to Approve PPP Funding

ICBA is recommending to Congress enhancements to the Paycheck Protection Program that would facilitate small businesses' access to credit. But, to make these reforms a reality, you need to let your elected officials know.

Take Action Now

Small Business Owners, Tell Congress to Approve PPP Funding

The current funding of the Paycheck Protection Program has run out. In order for Congress to provide more, give you flexibility with how you spend it and ensure all small businesses have access, your elected officials need to hear from you.

Take Action Now

Industry Updates

Service Providers Are Here To Help

    MK Decision

    MK Decision helps community banks to offer banking services digitally via remote implementation.

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    FINSYNC

    Members of ICBA can use FINSYNC's online loan application to support the PPP Loan with no upfront costs and same day implementation, which comes complete with a portal for processing PPP loans more efficiently and tools to help you track loan forgiveness eligibility, among other benefits.

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    NXTSoft

    NXTsoft Launches solution to resolve the many headaches associated with SBA E-Tran system: OmniConnect CARES Queue Streamlines the PPP Loan Submission Process for Financial Institutions

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    Abrigo

    With two-day implementation, Abrigo enables banks to serve their communities using our automated PPP loan origination system that is integrated into E-Tran, providing them with software to handle the inundation of loan requests and help small businesses and the self-employed pay their employees during the coronavirus crisis.

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    ProfitStars Lending Network

    The Jack Henry Lending Paycheck Protection Program Portal is a quick and easy solution for connecting Small Business borrowers to SBA certified banks.

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    Wolters Kluwer

    With Paycheck Protection Program supported by TSoftPlus, you can immediately start processing compliant PPP loans, with no upfront costs.

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    NewTek

    Newtek Business Finance Solutions is now offering Paycheck Protection Program loans to small business owners.

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    Lendsmart

    At this time we are happy to offer our solution free of charge for 3 months and deferred payments, and we will also offer our solution at a substantially discounted rate.

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    Q2

    Help small businesses get the loan assistance they need with a fast, easy, mobile-first application.

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    Holtmeyer & Monson

    H&M will submit the completed loan application to the SBA for approval and guarantee issuance and provide loan closing services with detailed documentation instructions.

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    Teslar

    The free Teslar Unite – PPP module assists community bankers with the SBA CARES Act PPP loan application process via an integrated web portal that allows small business customers to easily download the PPP loan application, fill it out, upload it and track the status of the loan.

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    OnDeck

    ODX enables banks to digitally originate business credit and deposit products - allowing business owners to open accounts and apply for loans without physically coming into a branch.

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    Fundation

    Fundation's white-labeled SBA Paycheck Protection Plan application for your community banks small business customers (use code 4242 for mobile verification).

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    StreetShares

    Community banks can now launch Business Lending-as-a-Service, in 7 days or less with all fees waived.

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    Botdoc

    Botdoc is allowing up to 15 users to use Botdoc for free for 60 days to help community bankers begin securely exchanging documents within 15 minutes, even when working remotely.

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    Finastra

    Finastra is taking action to optimize business lending platforms for the CARES Act and PPP funding.

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    Qcash Financial

    QCash Financial is waiving fees and implementation costs to get our digital small dollar lending solution broadly distributed.

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    Cirrus Secure

    Our secure loan document collection platform enables collaboration and workflow automation to support dispersed teams.

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    Botdoc

    Botdoc is allowing up to 15 users to use Botdoc for free for 60 days to help community bankers begin securely exchanging documents within 15 minutes, even when working remotely.

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    Lendsmart

    At this time we are happy to offer our solution free of charge for 3 months and deferred payments, and we will also offer our solution at a substantially discounted rate.

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    Credit Plus Inc.

    Business and personal credit reports, account monitoring, and portfolio monitoring are a few of our main services.

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    Intellicredit by QwickRate

    Now is the time to adopt aggressive new approaches to discover and monitor portfolio credit quality—both in aggregate and transactionally—including loans affected by COVID-19.

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    nCino

    The cloud-based nCino Bank Operating System incorporates government-defined requirements into loan decision workflows and provides critical insights and analytics to help institutions better understand exposure, manage risk and ensure compliance.

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    Fraud.net

    To help manage risks, Fraud.net is offering its Email Authentication tool-free for three months to community banks and their commercial banking customers.

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    Botdoc

    Botdoc is allowing up to 15 users to use Botdoc for free for 60 days to help community bankers begin securely exchanging documents within 15 minutes, even when working remotely.

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    Venminder

    COVID-19 and TPRM Consideration Resources website offers a wide range of resources including webinars, articles, checklists, and more.

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    CRiskCo

    ICBA member banks may white-label and deploy the system in under a week to support virtual meetings with free access from March 1 through June 30.

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    DefenseStorm

    Cybersecurity services provide monitoring and proactive KnowBe4 training tools to protect against phishing attempts to ensure safety and soundness is maintained.

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    Ncontracts

    Ncontracts's pandemic/business continuity resource page contains educational materials and Ncontinuity, the comprehensive Business Continuity Management tool, has been updated with workflow tools specific to the pandemic.

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    Quantivate

    Quantivate has developed a Pandemic Plan Template that includes a plan structure overview, pandemic planning phases, planning checklists for executive, operations, and more.

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    Iron Mountain

    Digital document management and timely destruction.

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    Deluxe

    Provides content from experienced community bank C-suite members to help community banks prepare for and navigate what is on the near-term horizon.

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    Griffin Technologies

    Via behavioral insights and search keyword re-targeting, Griffin Technologies provides community banks an affordable option to reach small business owners searching for small business loans and similar services.

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    In/Pact

    White labeled, our platform can be branded by the ICBA member bank and they can feature specific local charities such as food banks that are helping those most affected by COVID-19.

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    KapitalWise

    KapitalWise artificial intelligence (AI) platform analyzes data from a variety of sources with the goal of detecting changes in their financial condition, predicting their characteristics and preferences.

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    Kasasa

    Kasasa will waive monthly licensing fees on website and online account opening solutions for new banks joining through June 1, 2020.

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    Avannis

    With the COVID-19 crisis, banks currently utilizing their ICBA membership benefit receive programs including sensitive and understanding verbiage, followed by a commitment and desire to keep the lines of communication open.

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    Main Street Inc.

    Sample social post copy, downloadable imges, and resource links to communicate with account holders.

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    Dell

    Dell offers “Work From Home Bundle Specials” that include 5% discounts on commonly used telecommuting equipment.

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    VGM Forbin

    Ringcentral communication platform allows remote phone systems and video conferencing capabilities with remote roll-outs within 24-48 hours.

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    Agora Services

    To help community banks during COVID-19, we have waited our setup fee and will defer billing for three months.

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    Fintel Connect

    We work with the banks to acquire new customers for the digital account opening products on a performance basis.

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    Finzly

    Finzly is offering a free account opening solution for community banks to enable customers to continue receiving their banking services.

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