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Grounds for SBA Review, the SBA Loan Review Process, and Borrower Items - After the Economic Aid Act: An Updated Guide to the PPP Loan Forgiveness Review and Appeals Process, ‎Part 2‎ | Schwabe, Williamson & Wyatt PC

To embed, copy and paste the code into your website or blog: There are a few things to keep in mind in regard to the Small Business Administration (the “ SBA”) and the Paycheck Protection Program (“ PPP”) loan forgiveness review process. Adding on to the initial PPP funding, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “ Economic Aid Act” or “ PPP2 Act”) was followed by new forgiveness application forms and the Interim Final Rule on Loan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid Act (“ 2021 Forgiveness IFR”), which may create new questions. To explore the latest information, we created a four-part series that may offer some clarity around the new updates:

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WesBanco Announces Fourth Quarter 2020 Financial Results

WesBanco Announces Fourth Quarter 2020 Financial Results News provided by Share this article Share this article WHEELING, W.Va., Jan. 26, 2021 /PRNewswire/ WesBanco, Inc. ( WesBanco ) (NASDAQ: WSBC), a diversified, multi-state bank holding company, today announced net income and related earnings per share for the three and twelve months ended December 31, 2020. Net income available to common shareholders for the three months ended December 31, 2020 was $50.2 million, with diluted earnings per share of $0.75, compared to $36.4 million and $0.60 per diluted share, respectively, for the fourth quarter of 2019. For the twelve months ended December 31, 2020, reflecting the impact from the 2020 adoption of the new Current Expected Credit Losses ( CECL ) accounting standard, net income available to common shareholders was $119.4 million, or $1.77 per diluted share, compared to $158.9 million, or $2.83 per diluted share, for the 2019 period. Net income available to common shareho

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SBA and Treasury Dept issue new guidance for PPP reopening

Comments WASHINGTON – The U.S. Small Business Administration, in consultation with the Treasury Department, announced that the Paycheck Protection Program re-opened the week of January 11 for new borrowers and certain existing PPP borrowers. Updated PPP guidance outlining program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act. This round of the PPP continues to focus on millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan.

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BancorpSouth Announces Fourth Quarter 2020 and Annual Financial Results

BancorpSouth Announces Fourth Quarter 2020 and Annual Financial Results News provided by Share this article Share this article TUPELO, Miss., Jan. 25, 2021 /PRNewswire/ BancorpSouth Bank (NYSE: BXS) (the Company ) today announced financial results for the quarter and year ended December 31, 2020. Annual highlights for 2020 included: Achieved net income available to common shareholders of $218.6 million, or $2.12 per diluted common share, and net operating income available to common shareholders – excluding mortgage servicing rights ( MSR ) – of $237.3 million, or $2.30 per diluted common share. Recorded provision for credit losses of $86.0 million associated primarily with economic deterioration associated with the COVID-19 pandemic while net charge-offs totaled 0.18 percent of average loans and leases, 0.14 percent of which was related to previously acquired loans; adopted Accounting Standards Update 2016-13 Financial Instruments – Credit Losses ( CECL ) effectiv

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JD Bancshares, Inc Reports Financial Results for Three and Twelve-Month Periods Ended December 31, 2020

JD Bancshares, Inc Reports Financial Results for Three and Twelve-Month Periods Ended December 31, 2020
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